Selective Insurance selects Scottsdale for new office

There are 2,381 miles between Branchville, New Jersey and Scottsdale, Arizona. That’s how far Selective Insurance has traveled since its founding in 1926. What started with a couple people in Branchville has expanded to a super regional insurance agency with more than 2,000 employees and six regional offices across the country, with its newest one in Arizona. This month marks one year since Selective opened for business in the Valley of the Sun and named its Scottsdale location the company’s southwest regional headquarters.

The company has a history of financial success, expanding across the country and receiving an A rating for 85 consecutive years by A.M. Best Rating Services for its financial strength. Selective provides a mix of insurance coverage including commercial lines in 25 states, personal lines in 13 states, and excess and surplus lines in all 50 states. The majority of its business is commercial insurance coverage, especially in Arizona.

As a company that specializes in commercial insurance, it is no surprise that Selective chose Arizona’s expanding business scene for its regional headquarters.

Arizona’s economy is booming. The state ranks in the top five in the country in GDP growth, income growth, and population growth. Over 300 new businesses have expanded or relocated to Arizona in the last 3 years. “The economic trends that we’ve seen over the last few years in terms of job growth and construction growth as examples have been very favorable,” commented Shadi Albert, Senior Vice President and Regional Manager of Selective’s Southwest Region. “We also believe that over the next 10 – 20 years that those trends look very optimistic. It’s a great area to invest because you’ve got that economic momentum.”

In addition to the demand from the business community for another major insurance provider, Albert believes Arizona’s “business friendly” environment was a huge attraction. “We view this state as a very favorable regulatory environment for us and many other insurance companies that operate in the state.”

The move to Arizona spearheaded Selective’s expansion west, but they will continue to expand their services in the Southwest. Selective recently opened an office in Colorado and plans to open new offices in New Mexico and Utah in October. Selective will hire more employees to its Arizona headquarters in support of its expansion into other states.

Selective comes to Arizona at a time when the state is experiencing rapid business expansion. In the first year of Arizona operations, Selective has had great results with local contractors, schools, manufacturers, golf courses, and more. They are adding to Arizona’s business boom, insuring many local businesses and not-for-profits that invest in the community. “We are bringing a very strong, unique value proposition to the state,” said Albert. “We’re hiring local people and we’re providing a local service.” That service provides stability for those they insure and is one we can expect to see expand in the years to come.