Selective Investment Officer Departs as Insurer Begins Outsourcing

New Jersey-based insurer Selective Insurance Group Inc. says it has begun outsourcing its investment operations to third party managers and as a result, its executive vice president and chief investment officer, Kerry A. Guthrie, has left the company.

The company said the switch “does not indicate a change to the overall investment strategy, only the execution model” and believes Selective’s portfolio will “benefit from greater flexibility in trade execution, broader specific sector knowledge and advanced risk management tools.”

Guthrie has guided the company’s investment operations for the past eight years and been a Selective employee for more than 20.

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Source: Selective Insurance Group