SELECTIVE INSURANCE GROUP INC - FORM 8-K - EX-99.2 - January 28, 2021

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EX-99.1 - EX-99.1 - SELECTIVE INSURANCE GROUP INCq42020pressreleaseexh991.htm
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Exhibit 99.2














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FINANCIAL SUPPLEMENT
FOURTH QUARTER AND FULL YEAR 2020


Forward-Looking Statements

Certain statements in this report, including information incorporated by reference, are “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995 ("PSLRA"). The PSLRA provides a safe harbor under the Securities Act of 1933 and the Securities Exchange Act of 1934 for forward-looking statements. These statements relate to our intentions, beliefs, projections, estimations, or forecasts of future events or our future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels of activity, or performance to be materially different from those expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by use of words such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “target,” “project,” “intend,” “believe,” “estimate,” “predict,” “potential,” “pro forma,” “seek,” “likely,” or “continue” or other comparable terminology. These statements are only predictions, and we can give no assurance that such expectations will prove to be correct. We undertake no obligation, other than as may be required under the federal securities laws, to publicly update or revise any forward-looking statements for any reason.

Factors that could cause our actual results to differ materially from what we project, forecast, or estimate in forward-looking statements, include without limitation:
•Related to COVID-19:
◦Governmental directives to contain or delay the spread of the COVID-19 pandemic have disrupted ordinary business commerce and impacted financial markets. These governmental actions, the extent, duration, and possible alteration based on future COVID-19-related developments that we cannot predict, could materially and adversely affect our results of operations, net investment income, financial position, and liquidity.
◦The amount of premium we record may be reduced and our underwriting results may be adversely impacted by (i) voluntary premium credits on in-force commercial and personal automobile policies, (ii) state insurance commissioner or other regulatory directives to implement premium-based credit in lines other than commercial and personal automobile, and we may be required to return more premium than warranted by our filed rating plans and actual loss experience, (iii) the effects of our voluntary efforts or the directives from various state insurance regulators to extend individualized payment flexibility and suspend policy cancellations, late payment notices, and late or reinstatement fees, (iv) return premiums that could be significant because our general liability and workers compensation policies provide for premium audit of revenues and payrolls, and (v) collectability of premiums, which may be impacted by policyholder financial distress and insolvency.
◦Our loss and loss expenses may increase, our related reserves may not be adequate, and our financial condition and liquidity may be materially impacted if litigation or changes in statutory or common law (i) require payment of COVID-19-related business interruption losses despite contrary terms, conditions, and exclusions in our policies or (ii) presume that COVID-19 is a work-related illness compensable under workers compensation policies for employees who contract the virus, regardless of whether they worked in industries defined as essential in various COVID-19-related governmental directives or interacted with the public as part of their job duties.
◦Our net investment income may be impacted by the significant equity and debt financial market volatility resulting from the COVID-19 pandemic and the related governmental orders because (i) financial market volatility is reflected in our alternative investments’ performance, (ii) increased spreads on fixed income securities may create mark-to-market investment valuation losses that reduce unrealized capital gains and impact GAAP equity, and (iii) net realized losses may increase if we intend to sell more securities, particularly in asset classes that are more significantly impacted by COVID-19-related governmental directives and to which the Federal Reserve Board is providing liquidity and structural support.
•Difficult conditions in global capital markets and the economy;
•Deterioration in the public debt and equity markets and private investment marketplace that could lead to investment losses and interest rate fluctuations;
•Ratings downgrades on individual securities we own could affect investment values and, therefore, statutory surplus;
•The adequacy of our loss reserves and loss expense reserves;
•Frequency and severity of natural and man-made catastrophic events, including without limitation hurricanes, tornadoes, windstorms, earthquakes, hail, terrorism, including cyber-attacks, explosions, severe winter weather, floods, and fires;
•Adverse market, governmental, regulatory, legal, or judicial conditions or actions;
•The geographic concentration of our business in the eastern portion of the United States;
•The cost, terms and conditions, and availability of reinsurance;
•Our ability to collect on reinsurance and the solvency of our reinsurers;
•The impact of changes in U.S. trade policies and imposition of tariffs on imports that may lead to higher than anticipated inflationary trends for our loss and loss expenses;
•Uncertainties related to insurance premium rate increases and business retention;
•Changes in insurance regulations that impact our ability to write and/or cease writing insurance policies in one or more states;
•The effects of data privacy or cyber security laws and regulations on our operations;
•Major defect or failure in our internal controls or information technology and application systems that result in harm to our brand in the marketplace, increased senior executive focus on crisis and reputational management issues and/or increased expenses, particularly if we experience a significant privacy breach;
•Recent federal financial regulatory reform provisions that could pose certain risks to our operations;
•Our ability to maintain favorable ratings from rating agencies, including AM Best, Standard & Poor’s, Moody’s, and Fitch;
•Our entry into new markets and businesses; and
•Other risks and uncertainties we identify in filings with the United States Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K and other periodic reports.

These risk factors may not be exhaustive. We operate in a continually changing business environment, and new risk factors that we cannot predict or assess may emerge from time-to-time.

Selective’s SEC filings can be accessed through the Investors page of Selective’s website, www.Selective.com, or through the SEC’s EDGAR Database at www.sec.gov (Selective EDGAR CIK No. 0000230557).


Selective Insurance Group, Inc. & Consolidated Subsidiaries

TABLE OF CONTENTS
Page
Consolidated Financial Highlights
Consolidated Statements of Operations
Consolidated Balance Sheets
Financial Metrics
Consolidated Insurance Operations Statement of Operations
Standard Commercial Lines Statement of Operations and Supplemental Data
Standard Commercial Lines GAAP Line of Business Results
Standard Personal Lines Statement of Operations and Supplemental Data
Standard Personal Lines GAAP Line of Business Results
Excess and Surplus Lines Statement of Operations and Supplemental Data
Excess and Surplus Lines GAAP Line of Business Results
Consolidated Investment Income
Consolidated Composition of Invested Assets
Credit Quality of Invested Assets
Reconciliation of Net Income Available to Common Stockholders to Non-GAAP Operating Income and Certain Other Non-GAAP Measures
Ratings and Contact Information




Selective Insurance Group, Inc. & Consolidated Subsidiaries

CONSOLIDATED FINANCIAL HIGHLIGHTS
(Unaudited)
Quarter endedYear-to-date
Dec. 31,Sept. 30,June 30,Mar. 31,Dec. 31,Dec. 31,Dec. 31,
($ and shares in millions, except per share data)2020202020202020201920202019
For Period Ended
Gross premiums written$790.5 844.7 841.1 752.5 730.6 3,228.8 3,108.8 
Net premiums written681.5 719.5 724.8 647.3 628.2 2,773.1 2,679.4 
Change in net premiums written, from comparable prior year period8 %6 3 (4)8 3 7 
Underwriting income, before-tax$84.1 21.0 9.9 21.4 54.5 136.3 164.0 
Net investment income earned, before-tax68.5 68.2 34.4 56.0 57.6 227.1 222.5 
Net realized and unrealized investment gains (losses), before-tax20.1 7.7 12.6 (44.7)(0.9)(4.2)14.4 
Net income available to common stockholders(1)
127.1 69.9 34.2 15.2 81.9 246.4 271.6 
Non-GAAP operating income(2)
111.2 63.8 24.2 50.5 82.5 249.7 264.4 
At Period End
Total assets9,687.9 9,514.9 9,306.0 8,975.1 8,797.2 9,687.9 8,797.2 
Total invested assets7,505.6 7,277.5 7,130.3 6,842.1 6,688.7 7,505.6 6,688.7 
Stockholders' equity2,738.9 2,393.6 2,298.7 2,096.5 2,194.9 2,738.9 2,194.9 
Common stockholders' equity(3)
2,538.9 2,393.6 2,298.7 2,096.5 2,194.9 2,538.9 2,194.9 
Common shares outstanding59.9 59.8 59.8 59.7 59.5 59.9 59.5 
Per Share and Share Data
Net income available to common stockholders per common share (diluted)$2.10 1.16 0.57 0.25 1.36 4.09 4.53 
Non-GAAP operating income per common share (diluted)(2)
1.84 1.06 0.40 0.84 1.37 4.15 4.40 
Weighted average common shares outstanding (diluted)60.4 60.4 60.2 60.2 60.1 60.3 60.0 
Book value per common share$42.38 40.00 38.43 35.11 36.91 42.38 36.91 
Dividends paid per common share0.25 0.23 0.23 0.23 0.23 0.94 0.83 
Financial Ratios
Loss and loss expense ratio54.4 %64.5 64.0 61.4 57.6 61.0 59.7 
Underwriting expense ratio33.4 32.4 34.3 35.2 34.1 33.8 33.8 
Dividends to policyholders ratio0.3 0.1 0.1 0.1 0.1 0.1 0.2 
GAAP combined ratio88.1 %97.0 98.4 96.7 91.8 94.9 93.7 
Annualized return on common stockholders' equity ("ROE")20.6 11.9 6.2 2.8 15.1 10.4 13.6 
Annualized non-GAAP operating ROE(2)
18.0 10.9 4.4 9.4 15.2 10.5 13.3 
Debt to total capitalization16.7 23.1 25.9 28.9 20.1 16.7 20.1 
Long-term debt to total capitalization16.7 18.7 19.3 20.8 20.1 16.7 20.1 
Net premiums written to policyholders' surplus 1.30x 1.39x  1.39x  1.38x  1.39x 1.30x1.39x
Invested assets per dollar of common stockholders' equity$2.96 3.04 3.10 3.26 3.05 2.96 3.05 
(1)
Net income available to common stockholders is net income reduced by preferred stock dividends.
(2)
Non-GAAP measure. Refer to Page 15 for definition.
(3)
Excludes equity related to preferred stock.
Page 1

Selective Insurance Group, Inc. & Consolidated Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Quarter endedYear-to-date
Dec. 31,Sept. 30,June 30,Mar. 31,Dec. 31,Dec. 31,Dec. 31,
($ and shares in millions, except per share data)2020202020202020201920202019
Revenues
Net premiums earned$704.9 694.5 630.7 651.7 668.4 2,681.8 2,597.2 
Net investment income earned68.568.2 34.4 56.0 57.6 227.1 222.5 
Net realized and unrealized gains (losses) 20.1 7.7 12.6 (44.7)(0.9)(4.2)14.4 
Other income4.9 6.1 4.7 1.8 3.8 17.6 12.4 
Total revenues798.4 776.6 682.4 664.8 728.9 2,922.3 2,846.5 
Expenses
Loss and loss expense incurred383.7447.8 403.9 400.3 385.3 1,635.8 1,551.5 
Amortization of deferred policy acquisition costs144.5142.3 136.9 136.5 136.3 560.3 536.0 
Other insurance expenses97.589.5 84.6 95.3 96.1 366.9 358.1 
Interest expense7.57.8 7.9 7.6 7.4 30.8 33.7 
Corporate expenses6.13.9 6.3 9.1 2.6 25.4 30.9 
Total expenses639.4691.3 639.8 648.8 627.6 2,619.3 2,510.1 
Income before federal income tax159.085.3 42.7 16.0 101.3 303.0 336.4 
Federal income tax expense32.0 15.4 8.5 0.8 19.4 56.6 64.8 
Net Income$127.1 69.9 34.2 15.2 81.9 246.4 271.6 
Preferred stock dividends— — — — — — — 
Net income available to common stockholders127.169.934.215.281.9246.4271.6
Net realized and unrealized investment (gains) losses, after tax(1)
(15.9)(6.1)(10.0)35.3 0.7 3.3 (10.5)
Debt retirement costs, after tax(1)
— — — — — — 3.3 
Non-GAAP operating income(2)
$111.2 63.8 24.2 50.5 82.5 249.7 264.4 
Weighted average common shares outstanding (diluted)60.460.4 60.2 60.2 60.1 60.3 60.0 
Net income available to common stockholders per common share (diluted)$2.10 1.16 0.57 0.25 1.36 4.09 4.53 
Non-GAAP operating income per common share (diluted)(2)
$1.84 1.06 0.40 0.84 1.37 4.15 4.40 
(1)
Amounts are provided to reconcile net income available to common stockholders to non-GAAP operating income.
(2)
Non-GAAP measure. Refer to Page 15 for definition.
Note: Amounts may not foot due to rounding.
Page 2

Selective Insurance Group, Inc. & Consolidated Subsidiaries

CONSOLIDATED BALANCE SHEETS
(Unaudited)
Dec. 31,Sept. 30,June 30,Mar. 31,Dec. 31,
($ in millions, except per share data)20202020202020202019
ASSETS
Investments
Fixed income securities, held-to-maturity, net of allowance for credit losses$16.8 19.1 19.5 20.4 20.8 
Fixed income securities, available-for-sale, at fair value, net of allowance for credit losses6,455.9 6,437.5 6,358.2 5,945.4 6,095.6 
Commercial mortgage loans, net of allowance for credit losses46.3 29.5 17.7 13.9 — 
Equity securities, at fair value310.4 151.8 134.1 100.0 72.9 
Short-term investments409.9 380.9 370.4 517.6 282.5 
Other investments266.3 258.6 230.5 244.9 216.8 
Total investments7,505.6 7,277.5 7,130.3 6,842.1 6,688.7 
Cash0.4 0.8 0.7 9.4 0.3 
Restricted cash14.8 15.1 5.0 5.2 7.7 
Interest and dividends due or accrued45.0 46.4 45.8 43.9 44.8 
Premiums receivable, net of allowance for credit losses836.0 851.1 866.9 797.3 823.9 
Reinsurance recoverable, net of allowance for credit losses587.5 611.5 584.7 563.5 573.2 
Prepaid reinsurance premiums170.5 179.4 169.8 162.5 166.7 
Current federal income tax— 6.6 — — — 
Deferred federal income tax— — — 43.1 6.8 
Property and equipment, net of accumulated depreciation and amortization77.7 78.4 78.8 80.1 77.4 
Deferred policy acquisition costs288.6 292.7 285.5 269.6 271.2 
Goodwill7.8 7.8 7.8 7.8 7.8 
Other assets153.9 147.7 130.7 150.6 128.6 
Total assets$9,687.9 9,514.9 9,306.0 8,975.1 8,797.2 
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Reserve for loss and loss expense$4,260.4 4,293.3 4,176.9 4,103.6 4,067.2 
Unearned premiums1,618.3 1,650.5 1,615.9 1,514.6 1,523.2 
Short-term debt— 167.0 252.0 302.0 — 
Long-term debt550.7 550.6 550.6 550.6 550.6 
Current federal income tax14.0 — 10.6 12.4 3.0 
Deferred federal income tax27.1 20.4 13.1 — — 
Accrued salaries and benefits114.9 93.1 82.7 74.0 126.8 
Other liabilities363.7 346.4 305.6 321.4 331.5 
Total liabilities$6,949.0 7,121.3 7,007.3 6,878.6 6,602.2 
Stockholders' Equity
Preferred stock of $0 par value per share$200.0 — — — — 
Common stock of $2 par value per share208.1 207.9 207.9 207.7 207.0 
Additional paid-in capital439.0 438.9 435.0 427.3 418.5 
Retained earnings2,271.5 2,159.6 2,103.6 2,083.3 2,080.5 
Accumulated other comprehensive income (loss) 220.2 187.1 152.0 (22.1)81.8 
Treasury stock, at cost(599.9)(599.9)(599.8)(599.8)(592.8)
Total stockholders' equity$2,738.9 2,393.6 2,298.7 2,096.5 2,194.9 
Commitments and contingencies
Total liabilities and stockholders' equity$9,687.9 9,514.9 9,306.0 8,975.1 8,797.2 
Note: Amounts may not foot due to rounding.
Page 3

Selective Insurance Group, Inc. & Consolidated Subsidiaries
FINANCIAL METRICS
(Unaudited)
Quarter endedYear-to-date
Dec. 31,Sept. 30,June 30,Mar. 31,Dec. 31,Dec. 31,Dec. 31,
($ and shares in millions, except per share data)2020202020202020201920202019
Book value per common share
Common stockholders' equity$2,538.9 2,393.6 2,298.7 2,096.5 2,194.9 2,538.9 2,194.9 
Common shares issued and outstanding, at period end59.9 59.8 59.8 59.7 59.5 59.9 59.5 
Book value per common share$42.38 40.00 38.43 35.11 36.91 42.38 36.91 
Book value per common share excluding unrealized gain or loss on fixed income securities37.29 35.43 34.43 34.01 34.05 37.29 34.05 
Financial results (after-tax)
Underwriting income66.4 16.6 7.8 16.9 43.1 107.7 129.6 
Net investment income55.5 55.1 28.5 45.5 46.8 184.6 181.2 
Interest expense and preferred stock dividends(5.9)(6.1)(6.3)(6.0)(5.8)(24.4)(23.3)
Corporate expense(4.7)(1.8)(5.9)(5.8)(1.5)(18.3)(23.0)
Net realized and unrealized investment gains (losses)15.9 6.1 10.0 (35.3)(0.7)(3.3)10.5 
Debt retirement costs— — — — — — (3.3)
Total after-tax net income127.1 69.9 34.2 15.2 81.9 246.4 271.6 
Preferred stock dividends— — — — — — — 
Total after-tax net income available to common stockholders127.169.934.215.281.9246.4271.6
Return on average equity
Insurance segments10.8 %2.8 1.4 3.1 8.0 4.6 6.5 
Net investment income9.0 9.4 5.2 8.5 8.6 7.8 9.1 
Interest expense and preferred stock dividends(1.0)(1.0)(1.1)(1.1)(1.1)(1.0)(1.2)
Corporate expense(0.8)(0.3)(1.1)(1.1)(0.3)(0.9)(1.1)
Net realized and unrealized investment gains (losses) 2.6 1.0 1.8 (6.6)(0.1)(0.1)0.5 
Debt retirement costs— — — — — — (0.2)
Annualized ROE20.6 11.9 6.2 2.8 15.1 10.4 13.6 
Net realized and unrealized (gains) losses(1)
(2.6)(1.0)(1.8)6.6 0.1 0.1 (0.5)
Debt retirement costs(1)
— — — — — — 0.2 
Annualized Non-GAAP Operating ROE(2)
18.0 %10.9 4.4 9.4 15.2 10.5 13.3 
Debt and total capitalization
Notes payable:
1.61% Borrowings from FHLBNY$25.0 25.0 25.0 25.0 25.0 25.0 25.0 
1.56% Borrowings from FHLBNY25.0 25.0 25.0 25.0 25.0 25.0 25.0 
3.03% Borrowings from FHLBI60.0 60.0 60.0 60.0 60.0 60.0 60.0 
0.78% Borrowings from FHLBNY— — 100.0 100.0 — — — 
0.68% Borrowings from FHLBNY— — 85.0 85.0 — — — 
0.58% Borrowings from FHLBI— 67.0 67.0 67.0 — — — 
0.36% Borrowings from FHLBNY— 100.0 — — — — — 
2.244% Borrowings on Line of Credit— — — 50.0 — — — 
7.25% Senior Notes49.7 49.7 49.7 49.7 49.7 49.7 49.7 
6.70% Senior Notes99.2 99.2 99.2 99.1 99.1 99.2 99.1 
5.375% Senior Notes291.3 291.2 291.2 291.1 291.0 291.3 291.0 
Finance Lease Obligations0.5 0.4 0.5 0.6 0.7 0.5 0.7 
Total debt550.7 717.6 802.6 852.6 550.6 550.7 550.6 
Stockholders' equity2,738.9 2,393.6 2,298.7 2,096.5 2,194.9 2,738.9 2,194.9 
Total capitalization$3,289.6 3,111.2 3,101.3 2,949.1 2,745.5 3,289.6 2,745.5 
Ratio of debt to total capitalization16.7 %23.1 25.9 28.9 20.1 16.7 20.1 
Ratio of long-term debt to total capitalization16.7 18.7 19.3 20.8 20.1 16.7 20.1 
Policyholders' surplus$2,124.7 1,962.3 1,922.5 1,924.9 1,932.4 2,124.7 1,932.4 
(1)
Amounts are provided to reconcile annualized ROE to annualized non-GAAP operating ROE.
(2)
Non-GAAP measure. Refer to Page 15 for definition.
Note: Amounts may not foot due to rounding.
Page 4

Selective Insurance Group, Inc. & Consolidated Subsidiaries

CONSOLIDATED INSURANCE OPERATIONS
STATEMENT OF OPERATIONS
(Unaudited)
Quarter endedYear-to-date
Dec. 31,Sept. 30,June 30,Mar. 31,Dec. 31,Dec. 31,Dec. 31,
($ in millions)2020202020202020201920202019
Underwriting results
Net premiums written$681.5 719.5 724.8 647.3 628.2 2,773.1 2,679.4 
Change in net premiums written, from comparable prior year period8 %6 3 (4)8 3 7 
Net premiums earned$704.9 694.5 630.7 651.7 668.4 2,681.8 2,597.2 
Losses and loss expenses incurred383.7 447.8 403.9 400.3 385.3 1,635.8 1,551.5 
Net underwriting expenses incurred235.3 225.1 216.2 229.2 227.9 905.8 876.6 
Dividends to policyholders1.8 0.6 0.7 0.8 0.7 3.8 5.1 
GAAP underwriting gain$84.1 21.0 9.9 21.4 54.5 136.3 164.0 
Catastrophe losses$19.5 79.5 83.2 33.2 6.5 215.4 81.0 
(Favorable) prior year casualty reserve development(35.0)(25.0)(15.0)(10.0)(20.0)(85.0)(61.0)
Underwriting ratios
Loss and loss expense ratio54.4 %64.5 64.0 61.4 57.6 61.0 59.7 
Underwriting expense ratio33.4 32.4 34.3 35.2 34.1 33.8 33.8 
Dividends to policyholders ratio0.3 0.1 0.1 0.1 0.1 0.1 0.2 
Combined ratio88.1 %97.0 98.4 96.7 91.8 94.9 93.7 
Catastrophe losses2.8 pts11.4 13.2 5.1 1.0 8.0 3.1 
(Favorable) prior year casualty reserve development(5.0)pts(3.6)(2.4)(1.5)(3.0)(3.2)(2.3)
Combined ratio before catastrophe losses85.3 %85.6 85.2 91.6 90.8 86.9 90.6 
Combined ratio before catastrophe losses and prior year casualty development90.3 89.2 87.6 93.1 93.8 90.1 92.9 
Other Statistics
Non-catastrophe property loss and loss expenses$114.5 105.6 81.8 108.1 100.9 410.0 410.5 
Non-catastrophe property loss and loss expenses16.2 pts15.2 13.0 16.6 15.1 15.3 15.8 
Direct new business$136.1 140.8 150.1 152.8 127.7 579.7 548.7 
Renewal pure price increases4.8%4.4 3.9 4.0 4.2 4.3 3.7 
Note: Amounts may not foot due to rounding.

Page 5

Selective Insurance Group, Inc. & Consolidated Subsidiaries

STANDARD COMMERCIAL LINES
STATEMENT OF OPERATIONS AND SUPPLEMENTAL DATA
(Unaudited)
Quarter endedYear-to-date
Dec. 31,Sept. 30,June 30,Mar. 31,Dec. 31,Dec. 31,Dec. 31,
($ in millions)2020202020202020201920202019
Underwriting results
Net premiums written$551.1 577.8 583.3 518.4 500.1 2,230.6 2,137.1 
Change in net premiums written, from comparable prior year period10 %8 5 (5)11 4 8 
Net premiums earned$567.5 558.1 501.0 516.6 530.6 2,143.2 2,049.6 
Losses and loss expenses incurred295.4 331.0 307.0 312.2 291.9 1,245.6 1,187.9 
Net underwriting expenses incurred195.2 183.7 176.6 186.5 185.0 742.0 710.6 
Dividends to policyholders1.8 0.6 0.7 0.8 0.7 3.8 5.1 
GAAP underwriting gain$75.2 42.7 16.7 17.1 53.0 151.7 146.0 
Catastrophe losses$7.1 39.3 50.7 20.7 2.1 117.8 54.2 
(Favorable) prior year casualty reserve development(35.0)(25.0)(15.0)(10.0)(26.0)(85.0)(69.0)
Underwriting ratios
Loss and loss expense ratio52.1 %59.3 61.4 60.4 55.0 58.1 58.0 
Underwriting expense ratio34.4 32.9 35.2 36.1 34.9 34.6 34.7 
Dividends to policyholders ratio0.3 0.1 0.1 0.2 0.1 0.2 0.2 
Combined ratio86.8 %92.3 96.7 96.7 90.0 92.9 92.9 
Catastrophe losses1.3 pts7.0 10.1 4.0 0.4 5.5 2.6 
(Favorable) prior year casualty reserve development(6.2)(4.5)(3.0)(1.9)(4.9)(4.0)(3.4)
Combined ratio before catastrophe losses85.5 %85.3 86.6 92.7 89.6 87.4 90.3 
Combined ratio before catastrophe losses and prior year casualty development91.7 89.8 89.6 94.6 94.5 91.4 93.7 
Other Statistics
Non-catastrophe property loss and loss expenses$80.5 75.3 60.9 79.6 69.8 296.2 283.6 
Non-catastrophe property loss and loss expenses14.2 pts13.5 12.2 15.4 13.2 13.8 13.8 
Direct new business$96.8 99.0 109.9 115.4 95.0 421.1 411.2 
Renewal pure price increases5.1 %4.6 3.9 4.0 3.8 4.4 3.4 
Retention86 %86 86 85 84 85 83 
Note: Amounts may not foot due to rounding.

Page 6

Selective Insurance Group, Inc. & Consolidated Subsidiaries

STANDARD COMMERCIAL LINES
GAAP LINE OF BUSINESS RESULTS
(Unaudited)
Quarter ended December 31, 2020Quarter ended December 31, 2019
CommercialWorkersGeneralCommercialCommercialWorkersGeneralCommercial
($ in millions)PropertyCompensationLiabilityAutoBOPBondsOtherTotalPropertyCompensationLiabilityAutoBOPBondsOtherTotal
Net premiums written$99.8 71.0 177.5 160.0 30.3 7.1 5.5 551.1 88.9 71.3 162.8 136.8 28.0 7.3 4.9 500.1 
Net premiums earned100.8 73.9 184.7 166.0 28.1 8.7 5.4 567.5 91.4 78.7 174.5 145.6 26.6 8.9 5.0 530.6 
Loss and loss expense ratio47.0 %39.5 47.7 66.3 61.0 40.6 0.1 52.1 39.8 22.1 60.9 77.8 60.5 27.5 — 55.0 
Underwriting expense ratio39.3 28.4 34.4 31.9 39.7 53.8 41.4 34.4 39.7 28.6 34.7 32.4 40.1 56.9 57.1 34.9 
Dividend ratio0.3 1.5 0.1 0.1 — — 0.1 0.3 — 0.9 — — — — — 0.1 
Combined ratio86.6 %69.4 82.2 98.3 100.7 94.4 41.6 86.8 79.5 51.6 95.6 110.2 100.6 84.4 57.1 90.0 
Underwriting gain (loss)$13.5 22.6 32.9 2.8 (0.2)0.5 3.1 75.2 18.8 38.1 7.7 (14.9)(0.2)1.4 2.1 53.0 
Year-to-Date December 31, 2020Year-to-Date December 31, 2019
CommercialWorkersGeneralCommercialCommercialWorkersGeneralCommercial
($ in millions)PropertyCompensationLiabilityAutoBOPBondsOtherTotalPropertyCompensationLiabilityAutoBOPBondsOtherTotal
Net premiums written$413.2 270.2 716.1 658.9 114.6 35.9 21.8 2,230.6 373.8 309.3 699.3 590.0 107.3 37.3 20.0 2,137.1 
Net premiums earned388.1 278.1 694.0 615.2 110.2 36.7 20.9 2,143.2 353.8 311.4 669.9 554.3 105.3 35.7 19.3 2,049.6 
Loss and loss expense ratio66.7 %45.2 50.4 67.4 74.8 39.1 0.2 58.1 55.1 44.6 54.8 75.0 59.0 27.0 0.5 58.0 
Underwriting expense ratio38.7 28.3 34.7 33.1 37.0 54.9 38.5 34.6 38.8 27.9 34.8 32.9 37.5 57.3 56.5 34.7 
Dividend ratio0.1 1.0 — — — — — 0.2 — 1.6 — — — — — 0.2 
Combined ratio105.5 %74.5 85.1 100.5 111.8 94.0 38.7 92.9 93.9 74.1 89.6 107.9 96.5 84.3 57.0 92.9 
Underwriting (loss) gain$(21.3)70.9 103.3 (3.1)(13.0)2.2 12.8 151.7 21.6 80.6 69.9 (43.8)3.7 5.6 8.3 146.0 
Note: Amounts may not foot due to rounding.

Page 7

Selective Insurance Group, Inc. & Consolidated Subsidiaries

STANDARD PERSONAL LINES
STATEMENT OF OPERATIONS AND SUPPLEMENTAL DATA
(Unaudited)
Quarter endedYear-to-date
Dec. 31,Sept. 30,June 30,Mar. 31,Dec. 31,Dec. 31,Dec. 31,
($ in millions)2020202020202020201920202019
Underwriting results
Net premiums written$69.7 79.7 78.2 67.6 70.9 295.2 304.6 
Change in net premiums written, from comparable prior year period(2)%(2)(5)(2)(3)(3)(2)
Net premiums earned$75.4 76.0 71.6 76.1 76.6 299.1 307.7 
Losses and loss expenses incurred51.1 69.7 58.2 54.3 52.8 233.3 211.3 
Net underwriting expenses incurred19.5 20.7 19.8 21.4 22.6 81.4 88.2 
GAAP underwriting (loss) gain$4.8 (14.4)(6.3)0.4 1.2 (15.5)8.3 
Catastrophe losses$11.2 28.4 26.0 12.0 3.0 77.5 21.1 
Unfavorable prior year casualty reserve development— — — — 4.0 — 6.0 
Underwriting ratios
Loss and loss expense ratio67.8 %91.7 81.1 71.4 69.0 78.0 68.6 
Underwriting expense ratio25.8 27.3 27.7 28.1 29.5 27.2 28.7 
Combined ratio93.6 %119.0 108.8 99.5 98.5 105.2 97.3 
Catastrophe losses14.8 pts37.4 36.2 15.7 3.9 25.9 6.8 
Unfavorable prior year casualty reserve development— — — — 5.2 — 1.9 
Combined ratio before catastrophe losses78.8 %81.6 72.6 83.8 94.6 79.3 90.5 
Combined ratio before catastrophe losses and prior year casualty development78.8 81.6 72.6 83.8 89.4 79.3 88.6 
Other Statistics
Non-catastrophe property loss and loss expenses$25.4 22.4 15.3 22.8 25.9 86.0 104.7 
Non-catastrophe property loss and loss expenses33.7 pts29.5 21.4 30.0 33.9 28.7 34.0 
Direct new business$10.9 12.1 11.8 9.9 9.7 44.7 40.7 
Renewal pure price increases1.1 %1.8 3.1 3.7 4.2 2.5 5.0 
Retention84 %83 84 83 83 83 83 
Note: Amounts may not foot due to rounding.

Page 8


Selective Insurance Group, Inc. & Consolidated Subsidiaries

STANDARD PERSONAL LINES
GAAP LINE OF BUSINESS RESULTS
(Unaudited)
Quarter ended December 31, 2020Quarter ended December 31, 2019
PersonalPersonal
($ in millions)AutoHomeownersOtherTotalAutoHomeownersOtherTotal
Net premiums written$37.7 29.4 2.5 69.7 39.1 30.0 1.8 70.9 
Net premiums earned41.9 30.9 2.6 75.4 42.8 31.9 1.9 76.6 
Loss and loss expense ratio59.4 %81.6 40.6 67.8 83.2 52.8 21.2 69.0 
Underwriting expense ratio29.9 30.8 (98.2)25.8 33.4 34.9 (153.2)29.5 
Combined ratio89.3 %112.4 (57.6)93.6 116.6 87.7 (132.0)98.5 
Underwriting gain (loss)$4.5 (3.8)4.2 4.8 (7.1)3.9 4.4 1.2 
Year-to-Date December 31, 2020Year-to-Date December 31, 2019
PersonalPersonal
($ in millions)AutoHomeownersOtherTotalAutoHomeownersOtherTotal
Net premiums written$163.0 123.4 8.8 295.2 170.9 126.0 7.7 304.6 
Net premiums earned165.0 125.4 8.7 299.1 172.6 127.5 7.6 307.7 
Loss and loss expense ratio61.9 %101.3 46.2 78.0 74.2 63.5 29.8 68.6 
Underwriting expense ratio32.2 31.2 (124.1)27.2 32.2 33.0 (125.6)28.7 
Combined ratio94.1 %132.5 (77.9)105.2 106.4 96.5 (95.8)97.3 
Underwriting gain (loss)$9.8 (40.8)15.5 (15.5)(11.0)4.4 14.9 8.3 
Note: Amounts may not foot due to rounding.

Page 9

Selective Insurance Group, Inc. & Consolidated Subsidiaries

EXCESS AND SURPLUS LINES
STATEMENT OF OPERATIONS AND SUPPLEMENTAL DATA
(Unaudited)
Quarter endedYear-to-date
Dec. 31,Sept. 30,June 30,Mar. 31,Dec. 31,Dec. 31,Dec. 31,
($ in millions)2020202020202020201920202019
Underwriting results
Net premiums written$60.7 62.1 63.2 61.3 57.2 247.3 237.8 
Change in net premiums written, from comparable prior year period6 %— 3 8 (6)4 4 
Net premiums earned$62.0 60.5 58.0 59.0 61.2 239.5 239.8 
Losses and loss expenses incurred37.3 47.1 38.8 33.8 40.6 156.9 152.3 
Net underwriting expenses incurred20.6 20.7 19.8 21.3 20.3 82.4 77.7 
GAAP underwriting (loss) gain$4.1 (7.3)(0.5)3.8 0.3 0.1 9.7 
Catastrophe losses$1.2 11.8 6.5 0.5 1.4 20.0 5.7 
Unfavorable prior year casualty reserve development— — — — 2.0 — 2.0 
Underwriting ratios
Loss and loss expense ratio60.1 %77.8 66.8 57.4 66.3 65.5 63.5 
Underwriting expense ratio33.3 34.2 34.1 36.1 33.2 34.4 32.4 
Combined ratio93.4 %112.0 100.9 93.5 99.5 99.9 95.9 
Catastrophe losses1.9 pts19.5 11.3 0.8 2.3 8.4 2.4 
Unfavorable prior year casualty reserve development— — — — 3.3 — 0.8 
Combined ratio before catastrophe losses91.5 %92.5 89.6 92.7 97.2 91.5 93.5 
Combined ratio before catastrophe losses and prior year casualty development91.5 92.5 89.6 92.7 93.9 91.5 92.7 
Other Statistics
Non-catastrophe property loss and loss expenses$8.6 8.0 5.6 5.7 5.1 27.9 22.2 
Non-catastrophe property loss and loss expenses13.8 pts13.2 9.6 9.7 8.4 11.6 9.3 
Direct new business$28.4 29.7 28.3 27.5 23.0 113.9 96.8 
Renewal pure price increases7.4 %7.0 5.5 3.9 9.4 6.2 6.0 
Note: Amounts may not foot due to rounding.

Page 10

Selective Insurance Group, Inc. & Consolidated Subsidiaries

EXCESS & SURPLUS LINES
GAAP LINE OF BUSINESS RESULTS
(Unaudited)
Quarter ended December 31, 2020Quarter ended December 31, 2019
($ in millions)CasualtyPropertyTotalCasualtyPropertyTotal
Net premiums written$41.3 19.4 60.7 42.4 14.8 57.2 
Net premiums earned44.0 18.0 62.0 46.4 14.7 61.2 
Loss and loss expense ratio62.6 %54.2 60.1 73.3 44.2 66.3 
Underwriting expense ratio32.8 34.4 33.3 32.8 34.4 33.2 
Combined ratio95.4 %88.6 93.4 106.1 78.6 99.5 
Underwriting gain (loss)$2.0 2.1 4.1 (2.8)3.2 0.3 
Year-to-Date December 31, 2020Year-to-Date December 31, 2019
($ in millions)CasualtyPropertyTotalCasualtyPropertyTotal
Net premiums written$174.8 72.5 247.3 178.4 59.3 237.8 
Net premiums earned174.4 65.1 239.5 182.9 57.0 239.8 
Loss and loss expense ratio62.5 %73.6 65.5 68.1 49.0 63.5 
Underwriting expense ratio34.1 35.3 34.4 32.0 33.7 32.4 
Combined ratio96.6 %108.9 99.9 100.1 82.7 95.9 
Underwriting gain (loss)$5.9 (5.8)0.1 (0.1)9.9 9.7 
Note: Amounts may not foot due to rounding.


Page 11

Selective Insurance Group, Inc. & Consolidated Subsidiaries

CONSOLIDATED INVESTMENT INCOME
(Unaudited)
Quarter endedYear-to-date
Dec. 31,Sept. 30,June 30,Mar. 31,Dec. 31,Dec. 31,Dec. 31,
($ in millions)2020202020202020201920202019
Net investment income
Fixed income securities
Taxable$43.9 43.7 43.6 42.5 44.7 173.6 171.9 
Tax-exempt7.4 7.6 7.5 7.8 7.8 30.3 31.4 
Total fixed income securities51.3 51.3 51.1 50.3 52.6 203.9 203.3 
Commercial mortgage loans0.4 0.2 0.2 0.1 — 0.8 — 
Equity securities3.8 1.9 2.0 1.6 1.7 9.3 7.0 
Other investments17.8 18.7 (15.8)6.3 5.4 26.9 18.8 
Short-term investments— 0.2 0.4 1.2 1.4 1.8 6.7 
Investment income73.2 72.4 37.8 59.4 61.1 242.8 235.7 
Investment expenses(4.7)(4.2)(3.4)(3.4)(3.5)(15.7)(13.1)
Investment tax expense(13.1)(13.1)(5.9)(10.5)(10.8)(42.5)(41.4)
Total net investment income, after-tax$55.5 55.1 28.5 45.5 46.8 184.6 181.2 
Net realized and unrealized investment gains (losses), pre-tax$20.1 7.7 12.6 (44.7)(0.9)(4.2)14.4 
Change in unrealized gains (losses) recognized in other comprehensive income, pre-tax$39.6 43.7 219.6 (132.2)(8.0)170.7 213.3 
Average investment yields
Fixed income securities, pre-tax3.2 %3.2 3.3 3.3 3.5 3.2 3.6 
Fixed income securities, after-tax2.6 2.6 2.7 2.7 2.8 2.6 2.9 
Total portfolio, pre-tax3.7 %3.8 2.0 3.3 3.5 3.2 3.5 
Total portfolio, after-tax3.0 3.1 1.6 2.7 2.8 2.6 2.9 
Effective tax rate on net investment income19.1 %19.1 17.1 18.7 18.7 18.7 18.6 
New money purchase rates for fixed income securities, pre-tax2.7 2.8 3.5 3.1 3.1 3.0 3.3 
New money purchase rates for fixed income securities, after-tax2.1 2.2 2.7 2.5 2.4 2.2 2.7 
Effective duration of fixed income portfolio including short-term (in years)3.8 3.7 3.6 3.3 3.6 3.8 3.6 
Note: Amounts may not foot due to rounding.
Page 12

Selective Insurance Group, Inc. & Consolidated Subsidiaries

CONSOLIDATED COMPOSITION OF INVESTED ASSETS
(Unaudited)
Dec. 31,Sept. 30,June 30,Mar. 31,Dec. 31,
20202020202020202019
($ in millions)AmountPercentAmountPercentAmountPercentAmountPercentAmountPercent
Fixed income securities, at fair value$6,473.9 86 %6,457.8 89 6,378.9 89 5,967.3 87 6,117.6 91 
Commercial mortgage loans, at fair value47.3 1 30.6 — 17.9 — 13.9 — — — 
Equity securities, at fair value310.4 4 151.8 2 134.1 2 100.0 1 72.9 1 
Other investments266.3 4 258.6 4 230.5 4 244.9 4 216.8 3 
Short-term investments409.9 5 380.9 5 370.4 5 517.6 8 282.5 4 
Total investments$7,507.8 100  %7,279.7 100 7,131.8 100 6,843.6 100 6,689.8 100 
Fixed income portfolio, at carry value
U.S. government obligations$116.1 2 %117.5 2 119.7 2 142.2 2 116.2 2 
Foreign government obligations18.4 — 17.0 — 17.9 — 12.9 — 18.5 — 
Obligations of state and political subdivisions1,251.6 20 1,236.0 19 1,207.9 19 1,201.8 20 1,234.7 20 
Corporate securities2,340.4 36 2,313.4 36 2,271.0 36 1,925.3 32 1,963.7 32 
Collateralized loan obligations and other asset-backed securities1,026.6 16 945.6 15 839.5 13 722.3 12 793.0 13 
Residential mortgage-backed securities 1,051.8 16 1,183.0 18 1,318.4 21 1,430.2 24 1,452.0 24 
Commercial mortgage-backed securities 667.9 10 644.2 10 603.2 9 531.0 9 538.3 9 
Total fixed income securities$6,472.8 100  %6,456.6 100 6,377.7 100 5,965.7 100 6,116.4 100 
Weighted average credit quality
Investment grade credit quality$6,178.4 95 %6,183.4 96 6,101.9 96 5,760.3 97 5,899.0 96 
Non-investment grade credit quality295.5 5 274.4 4 277.0 4 207.0 3 218.6 4 
Total fixed income securities, at fair value$6,473.9 100  %6,457.8 100 6,378.9 100 5,967.3 100 6,117.6 100 
Weighted average credit quality of fixed income portfolio AA-  AA-  AA-  AA-  AA-
Expected maturities of fixed income securities at carry value
Due in one year or less$434.4 7 %337.6 5 315.8 5 296.8 5 395.2 6 
Due after one year through five years3,655.4 56 3,729.6 58 3,656.1 57 3,485.4 58 3,015.5 49 
Due after five years through 10 years1,910.5 30 1,962.6 30 2,055.6 32 1,931.5 32 2,536.9 41 
Due after 10 years472.5 7 426.8 7 350.3 6 252.0 4 168.8 3 
Total fixed income securities$6,472.8 100  %6,456.6 100 6,377.7 100 5,965.7 100 6,116.4 100 
Alternative investmentsDec. 31, 2020
Current
Number ofOriginalRemainingMarket
StrategyFundsCommitmentCommitmentValue
Private equity42 $253.9 100.9 157.3 
Private credit15 189.3 98.3 54.0 
Real assets7 37.5 16.5 19.7 
Total64 $480.7 215.7 230.9 
Note: Amounts may not foot due to rounding.

Page 13

Selective Insurance Group, Inc. & Consolidated Subsidiaries

CREDIT QUALITY OF INVESTED ASSETS
(Unaudited)

At December 31, 2020Credit Rating
($ in millions)Amortized CostFair
Value		% of Invested AssetsYield to WorstEffective Duration in YearsAverage Life in YearsAAAAAABBBNon-Investment GradeNot Rated
Short-term investments$410 $410 5.5 %0.1 %0.00.0$382 $27 $— $1 $1 $— 
Fixed income securities:
U.S. government obligations110 116 1.5 0.7 4.5 6.3 113 3 — — — — 
Foreign government obligations17 18 0.2 1.3 5.0 5.8 — 2 9 7 — — 
State and municipal obligations1,164 1,252 16.7 1.0 5.4 5.0 225 613 354 60 — — 
Corporate securities2,165 2,341 31.2 1.7 4.7 6.2 14 123 881 1,092 232 — 
Mortgage-backed securities:
Residential mortgage-backed securities ("RMBS"):
Agency RMBS904 954 12.7 1.0 2.5 3.2 954 — — — — — 
Non-agency RMBS95 98 1.3 1.7 1.0 2.7 44 5 47 1 — — 
Total RMBS999 1,052 14.0 1.0 2.3 3.2 998 5 47 1 — — 
Commercial mortgage-backed securities621 668 8.9 1.6 4.6 5.9 586 40 31 11 — — 
Total mortgage-backed securities1,620 1,720 22.9 1.3 3.2 4.2 1,584 45 78 12 — — 
Collateralized loan obligations ("CLO") and other asset-backed securities ("ABS"):
Auto43 45 0.6 0.5 2.4 2.3 35 6 3 — 1 — 
Aircraft53 51 0.7 6.0 3.2 3.6 — 1 16 31 3 — 
CLOs659 661 8.8 3.0 1.1 4.5 357 206 32 16 48 1 
Credit cards17 17 0.2 0.3 1.4 1.4 17 — — — — — 
Other ABS243 253 3.4 2.4 3.4 5.3 68 9 139 28 9 1 
Total CLOs and ABS1,015 1,027 13.7 2.8 1.8 4.5 477 222 190 75 62 2 
Total securitized assets2,635 2,746 36.6 1.8 2.7 4.3 2,062 267 268 87 62 2 
Total fixed income securities and short-term investments6,500 6,884 91.7 1.5 3.8 4.9 2,795 1,034 1,512 1,247 295 2 
Total fixed income securities and short-term investments by credit rating percentage40.6 %15.0 %22.0 %18.1 %4.3 %— %
Commercial mortgage loans46 47 0.6 3.8 2.8 7.0 — — 27 20 — — 
Equity Securities:
Common Stock(1)
300 309 4.1 — — — — — — — — 309 
Preferred stock2 2 — — — — — — — 1 1 — 
Total equity securities302 310 4.1 — — — — — — 1 1 309 
Other investments:
Alternative investments
Private equity157 157 2.1 — — — — — — — — 157 
Private credit54 54 0.7 — — — — — — — — 54 
Real assets20 20 0.3 — — — — — — — — 20 
Total alternative investments231 231 3.1 — — — — — — — — 231 
Other investments 35 35 0.5 — — — — — — — — 35 
Total other investments266 266 3.5 — — — — — — — — 266 
Total invested assets$7,114 $7,508 100.0 %— — — $2,795 $1,034 $1,539 $1,268 $295 $576 
(1) Includes investments in exchange traded funds, mutual funds, business development corporations, and real estate investment trusts.
Note: Amounts may not foot due to rounding.
Page 14

Selective Insurance Group, Inc. & Consolidated Subsidiaries

RECONCILIATION OF NET INCOME AVAILABLE TO COMMON STOCKHOLDERS TO NON-GAAP OPERATING INCOME AND CERTAIN OTHER NON-GAAP MEASURES
(Unaudited)
Quarter endedYear-to-date
Dec. 31,Sept. 30,June 30,Mar. 31,Dec. 31,Dec. 31,Dec. 31,
($ in millions, except per share data)2020202020202020201920202019
Reconciliation of net income available to common stockholders to non-GAAP operating income
Net income available to common stockholders$127.1 69.9 34.2 15.2 81.9 246.4 271.6 
Net realized and unrealized (gains) losses, before tax(20.1)(7.7)(12.6)44.7 0.9 4.2 (14.4)
Debt retirement costs, before tax— — — — — — 4.2 
Tax on reconciling items4.2 1.6 2.7 (9.4)(0.2)(0.9)3.0 
Non-GAAP operating income $111.2 63.8 24.2 50.5 82.5 249.7 264.4 
Reconciliation of net income available to common stockholders per diluted common share to non-GAAP operating income per diluted common share
Net income available to common stockholders per diluted common share$2.10 1.16 0.57 0.25 1.36 4.09 4.53 
Net realized and unrealized (gains) losses, before tax(0.33)(0.13)(0.21)0.74 0.01 0.07 (0.24)
Debt retirement costs, before tax— — — — — — 0.07 
Tax on reconciling items0.07 0.03 0.04 (0.15)— (0.01)0.04 
Non-GAAP operating income per diluted common share $1.84 1.06 0.40 0.84 1.37 4.15 4.40 
Reconciliation of annualized ROE to annualized non-GAAP operating ROE
Annualized ROE20.6 %11.9 6.2 2.8 15.1 10.4 13.6 
Net realized and unrealized (gains) losses, before tax(3.3)(1.3)(2.3)8.3 0.2 0.2 (0.7)
Debt retirement costs, before tax— — — — — — 0.2 
Tax on reconciling items0.7 0.3 0.5 (1.7)(0.1)(0.1)0.2 
Annualized non-GAAP operating ROE18.0 %10.9 4.4 9.4 15.2 10.5 13.3 
Non-GAAP operating income, non-GAAP operating income per diluted common share, and non-GAAP operating return on common equity differ from net income available to common stockholders, net income available to common stockholders per diluted common share, and return on common equity, respectively, by the exclusion of: (i) after-tax net realized and unrealized gains and losses on investments; and (ii) after-tax debt retirement costs. They are used as important financial measures by management, analysts, and investors, because the realization of investment gains and losses on sales of securities in any given period is largely discretionary as to timing. In addition, net realized and unrealized gains and losses on investments that are charged to earnings and the debt retirement costs could distort the analysis of trends. These operating measurements are not intended as a substitute for net income available to common stockholders, net income available to common stockholders per diluted common share, and return on common equity prepared in accordance with U.S. generally accepted accounting principles (GAAP). Reconciliations of net income available to common stockholders, net income available to common stockholders per diluted common share, and return on common equity to non-GAAP operating income, non-GAAP operating income per diluted common share, and non-GAAP operating return on common equity, respectively, are provided in the tables above.
Note: Amounts may not foot due to rounding.

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Selective Insurance Group, Inc. & Consolidated Subsidiaries

RATINGS AND CONTACT INFORMATION
Address:As of December 31, 2020
40 Wantage AvenueAM BestStandard & Poor'sMoody'sFitch
Branchville, NJ 07890Financial Strength Ratings:AAA2A+
Preferred Stock Rating:n/aBB+Ba1BBB-
Corporate Website:Long-Term Debt Credit Rating:bbb+BBBBaa2BBB+
www.Selective.com
Investor Contact:REGISTRAR AND TRANSFER AGENT
Rohan PaiEQ Shareowner Services
Senior Vice PresidentP.O. Box 64854
Investor Relations & TreasurerSt. Paul, MN 55164
Phone: 973-948-1364866-877-6351
Rohan.Pai@Selective.com
Media Contact:
Jamie M. Beal
Vice President
Director of Communications
Phone: 973-948-1234
Jamie.Beal@Selective.com

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