UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

þ		ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2008

o		TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

A.

Full title of the plan and the address of the plan, if different from that of the issuer named below:

SELECTIVE INSURANCE RETIREMENT SAVINGS PLAN

B.

Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

 

 

SELECTIVE INSURANCE RETIREMENT SAVINGS PLAN

Financial Statements and Supplemental Schedule
December 31, 2008 and 2007
(With Report of Independent Registered Public Accounting Firm Thereon)

Selective Insurance Retirement Savings Plan

Table of Contents

		Page
Report of Independent Registered Public Accounting Firm			1
Statements of Net Assets Available for Plan Benefits as of December 31, 2008 and 2007			2
Statement of Changes in Net Assets Available for Plan Benefits Year ended December 31, 2008			3
Notes to Financial Statements			4–11
Supplemental Schedule*
Schedule H, Line 4 (i) — Schedule of Assets (Held at End of Year) December 31, 2008			12
Signature			13
Index to Exhibits			14
Exhibit 23

Report of Independent Registered Public Accounting Firm

To the Salary and Employee Benefits Committee of Selective Insurance Company of America:

We have audited the accompanying statements of net assets available for plan benefits of the Selective Insurance Retirement Savings Plan (the “Plan”) as of December 31, 2008 and 2007, and the related statement of changes in net assets available for plan benefits for the year ended December 31, 2008. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the Plan’s management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the Plan as of December 31, 2008 and 2007, and the changes in net assets available for plan benefits for the year ended December 31, 2008 in conformity with U.S. generally accepted accounting principles.

Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental Schedule H, Line 4 (i) — Schedule of Assets (Held at End of Year) as of December 31, 2008, is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements, taken as a whole.

/s/ KPMG LLP
New York, New York
May 28, 2009

Selective Insurance Retirement Savings Plan

Statements of Net Assets

Available for Plan Benefits

as of December 31, 2008 and 2007

		2008				2007
Plan Assets:
Investments, at fair value (Note 3)
Mutual funds		$	92,477,865				135,761,180
Common trust fund			24,314,519				19,096,715
Selective Insurance Group, Inc. common stock			4,014,990				4,103,543
Participant loans receivable			2,656,936				2,568,598
Participant self-directed investments			99,859				118,570
Total investments at fair value			123,564,169				161,648,606
Employer contribution receivable (Note 5)			76,281				1,334,735
Net assets available for benefits at fair value			123,640,450				162,983,341
Adjustment from fair value to contract value for fully benefit-responsive investment contracts			227,926				(112,869	)
Net assets available for plan benefits		$	123,868,376				162,870,472

See accompanying notes to financial statements.

Selective Insurance Retirement Savings Plan

Statement of Changes in Net Assets

Available for Plan Benefits

Year ended December 31, 2008

Reductions to net assets attributable to:
Investment income (loss):
Net depreciation in fair value of investments (Note 3)		$	(51,229,867	)
Dividends			4,642,859
Interest			1,684,408
Participant loan interest			193,763
Net investment loss			(44,708,837	)
Contributions:
Participants			10,397,500
Participant rollovers			844,861
Employer (net of forfeitures of $289,885)			5,588,001
Total contributions			16,830,362
Total reductions			(27,878,475	)
Deductions from net assets attributable to:
Distributions to participants			(11,123,621	)
Total deductions			(11,123,621	)
Net decrease in net assets available for plan benefits			(39,002,096	)
Net assets available for plan benefits at beginning of year			162,870,472
Net assets available for plan benefits at end of year		$	123,868,376

See accompanying notes to financial statements.

Selective Insurance Retirement Savings Plan

Notes to Financial Statements
December 31, 2008 and 2007

(1)

Plan Description

The following description of the Selective Insurance Retirement Savings Plan (the “Plan”) is provided for general information purposes only. Participants should refer to the Plan document for more complete information.

(a)

General

The Plan was originally established effective July 1, 1980 and most recently had an amendment effective January 29, 2008 that did not have a significant impact on the Plan.

The Plan is a defined contribution retirement savings plan, which covers substantially all regular full-time and part-time employees of Selective Insurance Company of America (the “Company”) who are paid on a United States payroll. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Participants direct the investment of all contributions, including the Company’s contributions, among a variety of available investment options. Eligible employees of the Company may begin participation upon commencement of employment. The Company is the Plan sponsor. T. Rowe Price Retirement Plan Services, Inc. (“T. Rowe Price”) provides the majority of the recordkeeping services for the Plan. The recordkeeping for the participant self-directed investments is provided by Pershing, LLC, a wholly owned subsidiary of The Bank of New York Mellon Corporation. The members of the Salary and Employee Benefits Committee of the Board of Directors of the Company are the Plan trustees.

(b)

Plan Participants Contributions

Participants may contribute 2% to 50% of their base pay and annual cash incentive pay to the Plan on a pre-tax and/or after-tax basis, through payroll deductions, which, in the aggregate, may not exceed 50% of their annual base pay. Total pre-tax contributions may not exceed the Internal Revenue Service (“IRS”) limit of $15,500 for 2008. Participants age 50 or over may also make additional “catch-up” contributions to their accounts on a pre-tax basis of up to $5,000 for 2008. Highly compensated employees may have their contributions limited further at the discretion of the Plan’s sponsor. Participants may also contribute amounts representing eligible rollover distributions from other qualified plans. New employees are automatically enrolled in the Plan unless they elect to opt-out.

(c)

Company Contributions

For eligible employees hired on or before December 31, 2005, the Company makes matching contributions in an amount equal to 65 cents per dollar on the first 7% of the base pay contributed by a participant (the “regular matching contribution”).

In addition to the regular matching contribution, eligible employees hired after December 31, 2005 receive, following one year of service, a Company match, dollar for dollar, of the employee’s contribution up to 2% of the employee’s base pay and a non-elective contribution to the Plan equal to 2% of the employee’s base pay effective with the first pay period following one year of service. These enhanced benefits are provided as employees hired after December 31, 2005 are not eligible to participate in the Retirement Income Plan for Selective Insurance Company of America.

The Company does not match participants’ catch-up contributions or participant contributions made from annual cash incentive pay. Company matching and non-elective contributions are invested at the direction of the participant.

Selective Insurance Retirement Savings Plan

Notes to Financial Statements
December 31, 2008 and 2007

(d)

Administrative Expenses

Expenses incurred by the Plan may be paid directly by the Company or through the use of forfeitures.

(e)

Participants’ Accounts

Each participant’s account is credited with the participant’s contributions, the appropriate amount of the Company’s contributions and investment income (or loss) arising out of the vehicles in which the participant’s account were invested, net of fund expenses.

(f)

Vesting

Participants’ contributions and earnings or losses thereon are fully vested at all times. Company contributions and earnings or losses thereon vest in accordance with the following schedules:

Matching Contributions:

Years of Vesting Service		Vesting Percentage
Less than two			0	%
Two but less than three			20
Three but less than four			40
Four but less than five			60
Five but less than six			80
Six or more			100

Non-elective Contributions:

Years of Vesting Service		Vesting Percentage
Less than three			0	%
Three or more			100

A participant’s Company contribution account balance becomes 100% vested in the case of death, total disability, or at age 65, if the employee is still in service at the time.

(g)

Forfeited Accounts

Forfeited balances were $267,500 at December 31, 2008 and $269,088 at December 31, 2007. In 2008, forfeited amounts of $289,885 were used to reduce the Company’s contributions. All forfeited amounts are used to reduce the Company contributions made and/or pay administrative expenses of the Plan.

(h)

Withdrawals

During employment, a participant may make withdrawals of all or certain portions of his or her vested account balance subject to certain restrictions as set forth in the Plan document. Certain withdrawals, such as hardship withdrawals, preclude the participant from making further contributions or withdrawals under the Plan for six months after the receipt of the distribution.

(i)

Benefit Payments

The benefit to which a participant is entitled is provided from the vested portion of a participant’s account. Upon termination of service, if a participant’s vested account balance does not exceed $1,000, the vested value is distributed in the form of a lump-sum payment. If the vested account balance exceeds $1,000, the participant may request a lump-sum payment or may elect to defer distribution up until age 65, as set forth in the Plan. Upon a participant’s death, the entire vested account balance is distributed to the participant’s beneficiary in the form of a lump-sum payment.

Selective Insurance Retirement Savings Plan

Notes to Financial Statements
December 31, 2008 and 2007

(j)

Participant Loans

Participants may borrow, from their before-tax account or rollover account, a minimum of $1,000 up to a maximum equal to the lesser of (i) $50,000, reduced for participants with prior loans by the highest outstanding balance of loans from the Plan during the one-year period ending on the day before the date the loan is made, or (ii) 50% of their vested pre-tax and rollover account balance. Loans used to purchase a primary residence can be repaid over fifteen years. Loans for all other purposes must be repaid within five years. Principal and interest is repaid through bi-weekly payroll deductions. Interest is determined at the time of the loan at a rate equal to prime plus 1%.

In recent years, the Company identified various operational errors related to the repayment of participant loans to the Plan that management does not believe are material. Errors identified in 2009 and 2008 are currently being remediated while errors identified in 2007 and 2006 have been corrected.

(2)

Summary of Significant Accounting Policies

(a)

Adoption of Accounting Pronouncement

On January 1, 2007, the Plan adopted Financial Accounting Standards Board (“FASB”) Interpretations No. 48, Accounting for Uncertainty in Income Taxes (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. FIN 48 requires evaluation of tax positions taken or expected to be taken to determine whether the tax positions will “more likely than not” be sustained by the applicable tax authority. The adoption of FIN 48 did not have an impact on the Plan’s financial statements. The IRS, the primary tax oversight body of the Plan, generally has the ability to examine activity of the Plan for up to three prior years.

On January 1, 2008, the Plan adopted FASB Statement of Financial Accounting Standards No. 157, Fair Value Measurements (“FAS 157”), which defines fair value, establishes a framework for measuring fair value, and expands disclosure about fair value measurements. This pronouncement did not require any new fair value measurements. In February 2008, the FASB issued FASB Staff Position (“FSP”) No. FAS 157-2, Effective Date of FASB Statement No. 157 (“FSP FAS 157-2”), which defers the effective date of FAS 157 for one year for non-financial assets and non-financial liabilities that are not disclosed at fair value in the consolidated financial statements on a recurring basis. FSP FAS 157-2 did not defer the recognition and disclosure requirements for financial or non-financial assets and liabilities that are measured at least annually. In February 2008, the Plan adopted FSP FAS 157-2. In October 2008, the FASB issued FSP No. FAS 157-3, Determining the Fair Value of a Financial Asset in a Market That Is Not Active (“FSP FAS 157-3). FSP FAS 157-3 was effective upon issuance, and applies to periods for which financial statements have not been issued. This FSPs guidance clarifies various application issues with respect to the objective of a fair value measurement, distressed transactions, relevance of observable data, and the use of management’s assumptions. The effect of the adoption of FAS 157, FSP FAS 157-2, and FSP FAS 157-3 did not have a material effect on the changes in net assets or the financial position of the Plan.

Selective Insurance Retirement Savings Plan

Notes to Financial Statements
December 31, 2008 and 2007

In April 2009, the FASB issued FSP FAS 157-4, Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly (“FSP FAS 157-4”). Under FSP FAS 157-4, if the reporting entity has determined that the volume and level of market activity has significantly decreased and transactions are not orderly, further analysis is required and adjustments to the quoted prices or transactions might be needed. FSP FAS 157-4 is effective for interim and annual reporting periods ending after June 15, 2009. The Company is currently evaluating the impact FSP 157-4 will have on the Plan’s financial statements.

(b)

Basis of Accounting

The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”).

(c)

Use of Estimates

The preparation of the financial statements in conformity with GAAP requires the Plan’s management to: (i) make estimates and assumptions that affect the reported amount of assets, liabilities and changes therein; and (ii) disclose contingent assets and liabilities. Actual results may differ from such estimates and assumptions.

(d)

Fair Value Measurement of Investments

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. FAS 157 establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1: Quoted prices in active markets for identical assets or liabilities.

Level 2: Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or inputs that are observable or corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3: Unobservable inputs supported by little or no market activity and that reflect the reporting entity’s own assumptions about the exit price, including assumptions that market participants would use in pricing the asset or liability.

An asset or liability’s classification within the fair value hierarchy is based on the lowest level of significant input to its valuation.

Fair value estimates are made at a specific point in time, based on available market information and other observable inputs. In some cases, the fair value estimates cannot be substantiated by comparison to independent markets. In addition, the disclosed fair value may not be realized in the immediate settlement of the financial asset and these values do not represent any premium or discount that could result from offering for sale at one time an entire holding of a particular financial asset. Potential taxes and other expenses that would be incurred in an actual sale or settlement are not reflected in the amounts disclosed.

Selective Insurance Retirement Savings Plan

Notes to Financial Statements
December 31, 2008 and 2007

(e)

Income Recognition

Purchases and sales of securities are recorded on a trade date basis. Dividends are recorded on the ex-dividend date. Interest income is recorded when earned.

(f)

Risk and Uncertainties

The Plan investment options include various investment securities, which in general, are exposed to various risks, such as interest rate, credit and overall market volatility risk. It is reasonable to expect that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances.

The Plan’s exposure to a concentration of credit risk is limited by the diversification of investments across the participant-directed fund elections. Additionally, the investments within each participant-directed fund election are further diversified into varied financial instruments, with the exception of investments in Selective Insurance Group Inc. (“SIGI”) common stock and potentially the individual investments under the participant self-directed investment option of the Plan. Investment decisions are made, and the resulting risks are borne, exclusively by the Plan participant who made such decisions.

The Plan invests indirectly in securities with contractual cash flows, such as asset-backed securities, collateralized mortgage obligations and commercial mortgage-backed securities, including securities backed by subprime mortgage loans. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, delinquencies or defaults, or both, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.

(g)

Payment of Benefits

Benefits are recorded when paid.

(3)

Investments

The following investments represent 5% or more of the Plan’s net assets:

		Fair Value				Fair Value
		2008				2007
T. Rowe Price Mutual Funds:
Equity Income Fund
1,077,198 and 1,081,366 shares, respectively		$	18,398,546				30,386,374
Small-Cap Value Fund
535,649 and 538,118 shares, respectively			12,587,743				19,329,195
Mid-Cap Growth Fund
372,059 and 350,428 shares, respectively			12,155,175				20,209,128
Growth Stock Fund
285,347 shares			*				9,604,772
Other Mutual Funds:
Julius Baer Int’l Equity II
868,065 shares			*				14,930,715
Western Asset Core Plus Bond I Fund
1,376,488 and 1,282,320 shares, respectively			11,947,919				13,066,833
Artio International Equity II I Fund
888,990 shares			8,801,001				*
T. Rowe Price Common Collective Trust Fund:
Stable Value Common Trust Fund
24,542,445 and 18,983,846 shares, respectively			24,314,519				19,096,715

Selective Insurance Retirement Savings Plan

Notes to Financial Statements
December 31, 2008 and 2007

The T. Rowe Price Stable Value Collective Trust Fund’s (the “Trust”) one-year total return was 4.52% and 4.47% for 2008 and 2007, respectively. The thirty-day effective yield, also known as the crediting interest rate, was 3.97% at December 31, 2008 and 4.57% at December 31, 2007. Both the one-year total return and the thirty-day effective yield are net of the annual trustee fees. For 2008 and 2007, the annual trustee fees were 0.32% and 0.45%, respectively. The crediting interest rate is calculated on a daily basis.

The Trust is a fully benefit-responsive fund invested primarily in synthetic investment contracts. Synthetic investment contracts are a combination of underlying assets that are held by the Trust and wrap contracts issued by financially responsible third parties, typically banks, insurance companies, or other financial services institutions. The issuer of a wrap contract provides for unscheduled withdrawals from the contract at contract value, regardless of the value of the underlying assets, in order to fund permitted participant-initiated withdrawals from the Trust. In the event that the issuer of a wrap contract is unable to fulfill its obligation, the Trust may have to recognize the fair value of the underlying assets. These values may be less than contract value and could result in a loss of principal and/or a reduction in earnings for its investors. There are currently no reserves against contract value for credit risk of these contract issuers.

The existence of certain conditions can limit the Trust’s ability to transact at contract value with the issuers of its investment contracts. Specifically, any event outside the normal operation of the Trust that causes a withdrawal from an investment contract may result in a negative market value adjustment with respect to such withdrawal. Examples of such events include, but are not limited to, partial or complete legal termination of the Trust or a unitholder, tax disqualification of the Trust or a unitholder, and certain Trust amendments if issuers’ consent is not obtained. According to the audited financial statements of the Trust as of December 31, 2008, the occurrence of an event outside the normal operation of the Trust that would cause a withdrawal from an investment contract is not considered to be probable. To the extent a unitholder suffers a tax disqualification or legal termination event, under normal circumstances it is anticipated that liquid assets would be available to satisfy the redemption of such unitholder’s interest in the Trust without the need to access investment contracts.

For 2008, the Plan’s net depreciation in fair value of investments (including investments bought and sold, as well as held during the year) is comprised of the following:

		2008
Mutual funds		$	(51,056,606	)
SIGI common stock			(5,119	)
Participant self-directed investments			(168,142	)
		$	(51,229,867	)

The following table presents the Plan’s fair value hierarchy for those investments measured at fair value as of December 31, 2008:

						Fair Value Measurements at 12/31/08 Using
						Quoted Prices				Significant
		Assets				in Active				Other				Significant
		Measured at				Markets for				Observable				Unobservable
		Fair Value at				Identical Assets				Inputs				Inputs
Description		12/31/08				(Level 1)				(Level 2)				(Level 3)
Mutual funds		$	92,477,865				92,477,865				—				—
Common trust fund			24,314,519				—				24,314,519				—
SIGI common stock			4,014,990				4,014,990				—				—
Participant loans receivable			2,656,936				—				—				2,656,936
Participant self-directed investments			99,859				99,859				—				—
		$	123,564,169				96,592,714				24,314,519				2,656,936

Selective Insurance Retirement Savings Plan

Notes to Financial Statements
December 31, 2008 and 2007

The following table presents a reconciliation of Level 3 assets measured at fair value for the period January 1, 2008 to December 31, 2008:

		Level 3 Assets
Beginning balance as of January 1, 2008		$	2,568,598
Principle repayments			(1,002,390	)
Loan withdrawals			1,356,808
Deemed Distribution			(266,080	)
Ending balance as of December 31, 2008		$	2,656,936

(4)

Plan Termination

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants would become 100% vested in their Company contributions.

(5)

Federal Income Tax Status

The IRS has determined and informed the Company by a letter dated December 13, 2002, that the Plan is designed in accordance with applicable sections of the Internal Revenue Code (“IRC”). Although the Plan has been amended since receiving the determination letter, the Plan sponsor believes that the Plan is designed and, with the exception of the immaterial items noted below, is currently being operated in compliance with the applicable requirements of the IRC.

During 2007, 2008 and 2009, various operational issues were identified that either have been corrected or are in the process of being corrected under the Voluntary Compliance or Self-Correction Programs within the IRS’s Employee Plans Compliance Resolution System (“EPCRS”). In April 2009, the Company received IRS approval of its proposed corrective actions that were filed under the IRS’s Voluntary Compliance Program (“VCP”) in 2008. These operational issues resulted in an employer contribution receivable of approximately $1.3 million as of December 31, 2007 of which $1.2 million was approved and resolved under the VCP. These items, both individually and in the aggregate, are immaterial to the Plan’s net assets and financial condition as of and for the years ended December 31, 2008 and 2007.

(6)

Party-in-Interest Transactions

Certain investments of the Plan are shares of mutual funds and a common trust fund, which are administered by an affiliate of T. Rowe Price, the recordkeeper of the Plan, and T. Rowe Price Trust Company, Inc., the custodian of the Plan. These investments represent $91,607,368 or 74% of total net assets at December 31, 2008 and $119,896,305 or 74% of total net assets at December 31, 2007. Plan investments in shares of common stock issued by SIGI were 3% of total net assets in both 2008 and 2007. The Company, a wholly-owned subsidiary of SIGI, is the Plan sponsor. Therefore, these transactions qualify as party-in-interest transactions.

Selective Insurance Retirement Savings Plan

Notes to Financial Statements
December 31, 2008 and 2007

(7)

Subsequent Events

On February 6, 2009, the Plan announced changes in the investment options available to participants. Vanguard Federal Money Market Fund, Vanguard Inflation-Protected Securities Fund and Vanguard Total Bond Market Index Fund have been added effective March 2, 2009. The SIGI common stock fund was closed to new contributions effective March 9, 2009. If participants in the SIGI common stock fund do not change their contribution election, contributions made after March 9, 2009 will be directed to the retirement date fund with the target date closest to the year in which the participant turns 65. Existing balances will remain in SIGI common stock unless directed otherwise by the participant. Also the Western Asset Core Plus Bond I Fund was closed on March 31, 2009 and future contributions, as well as existing balances, will be transferred to Vanguard Total Bond Market Index Fund unless otherwise directed by the participant.

(8)

Reconciliation of Financial Statements to Form 5500

The following is a reconciliation of the financial statements to IRS Form 5500:

		2008				2007
Net assets available for plan benefits per the financial statements		$	123,868,376				162,870,472
Adjustment from contract value to fair market value for fully benefit-responsive investment contracts			(227,926	)			112,869
Net assets per Form 5500		$	123,640,450				162,983,341

The following is a reconciliation of total reductions per the financial statements to Form 5500:

		2008
Total reductions per the financial statements		$	(27,878,475	)
Adjustment from contract value to fair market value for fully benefit-responsive investment contracts:
2007			(112,869	)
2008			(227,926	)
Total income per Form 5500		$	(28,219,270	)

Selective Insurance Retirement Savings Plan

Schedule H, Line 4 (i) — Schedule of Assets (Held at End of Year)
December 31, 2008

Identity of issue		Description				Shares				Fair Value
*Selective Insurance Group, Inc. common stock		Common Stock					175,098			$	4,014,990
*T. Rowe Price Stable Value Common Trust Fund		Common Trust Fund					24,542,445				24,314,519
*T. Rowe Price Mutual Funds
Equity Income Fund		Mutual Fund					1,077,198				18,398,546
Small-Cap Value Fund		Mutual Fund					535,649				12,587,743
Mid-Cap Growth Fund		Mutual Fund					372,059				12,155,175
Growth Stock Fund		Mutual Fund					305,939				5,886,258
Retirement 2030 Fund		Mutual Fund					324,989				3,626,881
Retirement 2020 Fund		Mutual Fund					259,573				2,883,860
Retirement 2025 Fund		Mutual Fund					321,354				2,551,548
Retirement 2015 Fund		Mutual Fund					273,395				2,269,176
Retirement 2010 Fund		Mutual Fund					180,860				2,027,445
Retirement 2035 Fund		Mutual Fund					191,255				1,489,876
Real Estate Fund		Mutual Fund					132,897				1,479,139
Retirement 2040 Fund		Mutual Fund					55,436				614,227
Retirement 2045 Fund		Mutual Fund					36,449				268,997
Retirement 2005 Fund		Mutual Fund					30,035				259,499
Retirement Income Fund		Mutual Fund					23,866				246,298
Retirement 2050 Fund		Mutual Fund					33,338				206,693
Retirement 2055 Fund		Mutual Fund					18,526				113,562
Other Mutual Funds:
Western Asset Core Plus Bond I Fund		Mutual Fund;					1,376,488				11,947,919
Artio International Equity II I Fund		Mutual Fund;					888,990				8,801,001
Vanguard Institutional Index Fund		Mutual Fund;					56,506				4,664,022
											92,477,865
*Participant self-directed investments		various									99,859
*Participant Loans Receivable		314 loans interest rates from 4.25% to 9.25% maturity through 2023									2,656,936
Total										$	123,564,169

See accompanying Report of Independent Registered Public Accounting Firm.

Signature

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the Salary and Employee Benefits Committee of Selective Insurance Company of America has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

INDEX TO EXHIBITS

Exhibit No.				Description
	23			Consent of Independent Registered Public Accounting Firm