Form 8-K
8-K — SELECTIVE INSURANCE GROUP INC
Accession: 0000230557-26-000018
Filed: 2026-07-23
Period: 2026-07-23
CIK: 0000230557
SIC: 6331 (FIRE, MARINE & CASUALTY INSURANCE)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — sigi-20260723.htm (Primary)
EX-99.1 (q22026pressreleaseexh991.htm)
EX-99.2 (q22026pressreleasesuppleme.htm)
EX-99.3 (sigisecondquarter2026inv.htm)
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8-K
8-K (Primary)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) July 23, 2026
SELECTIVE INSURANCE GROUP, INC.
(Exact name of registrant as specified in its charter)
New Jersey 001-33067 22-2168890
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.)
40 Wantage Avenue, Branchville, New Jersey 07890
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (973) 948-3000
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol (s) Name of each exchange on which registered
Common Stock, par value $2 per share SIGI The Nasdaq Stock Market LLC
Depositary Shares, each representing a 1/1,000th interest in a share of 4.60% Non-Cumulative Preferred Stock, Series B, without par value SIGIP The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Section 2 – Financial Information
Item 2.02. Results of Operations and Financial Condition.
On July 23, 2026, Selective Insurance Group, Inc. (the “Company”) issued a press release announcing results for the second quarter ended June 30, 2026. The press release is attached hereto as Exhibit 99.1.
Section 7 – Regulation FD
Item 7.01. Regulation FD Disclosure.
Attached as Exhibit 99.2 is supplemental financial information about the Company.
The Company may present to various investors and stockholders using the presentation materials, which include supplemental financial information about the Company, that are furnished as Exhibit 99.3 hereto and incorporated herein by reference.
The information contained in Item 2.02 and Item 7.01 of this Current Report on Form 8-K, including the exhibits attached hereto, is being furnished and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. The Company makes no admission as to the materiality of any information in this report or the exhibits attached hereto.
Important information may be disseminated initially or exclusively via the Company’s corporate website, www.selective.com/investors. Investors should consult the site to access this information. Any website addresses included herein are inactive textual references only. The information contained on any such website referenced herein is not incorporated into this Current Report on Form 8-K.
Section 9 – Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description of Exhibit
99.1 Press Release of Selective Insurance Group, Inc. dated July 23, 2026
99.2 Financial Supplement, Second Quarter 2026
99.3 Selective Insurance Group, Inc. Second Quarter 2026 Investor Presentation
104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SELECTIVE INSURANCE GROUP, INC.
Date: July 23, 2026 By: /s/ Michael H. Lanza
Michael H. Lanza
Executive Vice President and General Counsel
EX-99.1
EX-99.1
Filename: q22026pressreleaseexh991.htm · Sequence: 2
Document
Exhibit 99.1
Selective Reports Second Quarter 2026 Results
Net Income per Diluted Common Share of $2.11 and Non-GAAP Operating Income1 per
Diluted Common Share of $1.95;
Return on Common Equity ("ROE") of 14.8% and Non-GAAP Operating ROE1 of 13.7%
In the second quarter of 2026:
•Net premiums written ("NPW") decreased 5% from the second quarter of 2025;
•The GAAP combined ratio was 98.0%, compared to 100.2% in the second quarter of 2025;
•Commercial Lines renewal pure price increases averaged 6.5%, compared to 8.9% in the second quarter of 2025;
•After-tax net investment income was $119 million, up 18% from the second quarter of 2025;
•Book value per common share was $58.13, up 3% from last quarter; and
•Adjusted book value per common share¹ was $60.56, up 3% from last quarter.
Branchville, NJ - July 23, 2026 - Selective Insurance Group, Inc. (NASDAQ: SIGI) reported financial results for the second quarter ended June 30, 2026, with net income per diluted common share of $2.11 and non-GAAP operating income1 per diluted common share of $1.95. ROE was 14.8% and non-GAAP operating ROE1 was 13.7%.
For the quarter, Selective's combined ratio was 98.0%. Catastrophe losses were 5.6 points, and there was no net prior year casualty reserve development. NPW decreased 5% from a year ago driven by a 6% decrease in Standard Commercial Lines. Renewal pure price increases were 6.5%. Net investment income increased 18% from a year ago, to $119 million after-tax, generating 13.9 points of annualized ROE in the quarter.
“Our results reflect disciplined execution in an increasingly competitive environment. Operating ROE in the quarter was 13.7%, which marked our eighth consecutive quarter of double-digit operating returns. With our strong capital position and commitment to delivering long-term value, we returned 45% of after-tax net income through our regular dividend and $32 million of share repurchases. Even with this capital return, book value per share grew 3% in the quarter,” said John J. Marchioni, Chairman, President and Chief Executive Officer.
“Over the last two years, we have taken deliberate actions to improve the quality and long-term profitability of our underwriting portfolio. While those decisions contributed to lower premium in the quarter, they reflect the underwriting discipline that has long differentiated Selective and our commitment to pursuing growth where risk-adjusted returns are most attractive.”
“During the second quarter, we celebrated our 100th year in business and 50th year as a publicly traded company – milestones made possible by the talented employees, high-quality distribution partners, customers, and investors who have fueled our success. Having successfully navigated a century of market cycles, we remain confident in our ability to adapt, execute, and create long-term value. The actions we are taking to strengthen our portfolio reflect the same disciplined approach that has guided Selective’s success and position us well to deliver sustainable, profitable growth over the long-term,” concluded Mr. Marchioni.
1
Operating Highlights
Consolidated Financial Results Quarter Ended June 30, Change Year-to-Date June 30, Change
$ and shares in millions, except per share data 2026 2025 2026 2025
Net premiums written $ 1,220.7 1,288.6 (5) % $ 2,446.2 2,529.1 (3) %
Net premiums earned 1,215.5 1,188.1 2 2,432.7 2,346.8 4
Net investment income earned 150.2 128.0 17 292.6 248.7 18
Net realized and unrealized gains (losses), pre-tax 12.0 4.2 187 3.7 4.4 (17)
Total revenues 1,387.0 1,326.7 5 2,746.0 2,611.9 5
Net underwriting income (loss), after-tax 19.3 (1.9) (1,107) 36.1 34.1 6
Net investment income, after-tax 119.2 101.4 18 232.3 197.0 18
Net income (loss) available to common stockholders
127.1 83.6 52 222.5 191.2 16
Non-GAAP operating income (loss)1
117.6 80.3 46 219.6 187.8 17
Combined ratio 98.0 % 100.2 (2.2) pts 98.1 % 98.2 (0.1) pts
Loss and loss expense ratio 67.2 69.3 (2.1) 67.1 66.9 0.2
Underwriting expense ratio 30.8 30.8 — 31.0 31.2 (0.2)
Dividends to policyholders ratio — 0.1 (0.1) — 0.1 (0.1)
Net catastrophe losses 5.6 pts 6.7 (1.1) 5.9 pts 5.3 0.6
Non-catastrophe property losses and loss expenses 14.0 14.6 (0.6) 14.3 15.0 (0.7)
(Favorable) unfavorable prior year reserve development on casualty lines
— 3.8 (3.8) — 2.1 (2.1)
Current year casualty loss costs
47.6 44.2 3.4 46.9 44.5 2.4
Net income (loss) available to common stockholders per diluted common share $ 2.11 1.36 55 % $ 3.69 3.12 18 %
Non-GAAP operating income (loss) per diluted common share1
1.95 1.31 49 3.64 3.06 19
Weighted average diluted common shares 60.2 61.3 (2) 60.3 61.3 (2)
Book value per common share $ 58.13 52.09 12 $ 58.13 52.09 12
Adjusted book value per common share1
60.56 54.48 11 60.56 54.48 11
Overall Insurance Operations
In the second quarter, overall NPW decreased 5%, as we continued to implement rate and non-rate actions to enhance underwriting profitability. Average renewal pure price increased 6.5%, down 3.4 points from a year ago. Our combined ratio was 98.0%, 2.2 points better than a year ago, primarily due to lower catastrophe and non-catastrophe property losses. There was no prior year casualty reserve development in the second quarter in any segment or line of business, compared to 3.8 points of unfavorable prior year reserve development a year ago. This was partially offset by higher current year casualty loss costs.
Overall, insurance segment performance generated 2.3 points of ROE in the second quarter of 2026, up 2.5 points from the second quarter of 2025.
Standard Commercial Lines Segment
In the second quarter, Standard Commercial Lines premiums, which account for 79% of total NPW, decreased 6% from a year ago driven by lower new business. Average renewal pure price increases were 6.5% and retention was 81%, reflecting granular actions to improve our profitability. These actions include driving higher renewal retention on our best-performing business and meaningfully lower retention on poorer-performing business. The second quarter combined ratio was 99.3%, 3.5 points better than a year ago, primarily due to no net prior year casualty reserve development in the current year quarter and lower non-catastrophe property losses, partially offset by higher current year casualty loss costs.
2
The following table shows the variances in key quarter-to-date and year-to-date measures:
Standard Commercial Lines Segment Quarter Ended June 30, Change Year-to-Date June 30, Change
$ in millions 2026 2025 2026 2025
Net premiums written $ 961.9 1,018.0 (6) % $ 1,954.2 2,021.2 (3) %
Net premiums earned 962.0 937.6 3 1,927.8 1,849.8 4
Combined ratio 99.3 % 102.8 (3.5) pts 99.7 % 99.6 0.1 pts
Loss and loss expense ratio 67.8 71.1 (3.3) 67.8 67.5 0.3
Underwriting expense ratio 31.4 31.6 (0.2) 31.8 32.0 (0.2)
Dividends to policyholders ratio 0.1 0.1 — 0.1 0.1 —
Net catastrophe losses 5.1 pts 5.4 (0.3) 5.5 pts 3.8 1.7
Non-catastrophe property losses and loss expenses 12.8 14.1 (1.3) 13.0 14.1 (1.1)
(Favorable) unfavorable prior year reserve development on casualty lines
— 4.8 (4.8) — 2.4 (2.4)
Current year casualty loss costs
49.9 46.8 3.1 49.3 47.2 2.1
Standard Personal Lines Segment
In the second quarter, Standard Personal Lines premiums, which represent 8% of total NPW, declined 8% and new business decreased 36% from a year ago. Renewal pure price was 8.9% and retention was 79%. The second quarter 2026 combined ratio increased 3.9 points from a year ago, to 95.5%, driven by higher non-catastrophe losses and a higher expense ratio, partially offset by lower catastrophe losses.
The following table shows the variances in key quarter-to-date and year-to-date measures:
Standard Personal Lines Segment Quarter Ended June 30, Change Year-to-Date June 30, Change
$ in millions 2026 2025 2026 2025
Net premiums written $ 101.5 110.5 (8) % $ 184.0 198.0 (7) %
Net premiums earned 97.6 102.4 (5) 197.7 206.0 (4)
Combined ratio 95.5 % 91.6 3.9 pts 94.1 % 94.9 (0.8) pts
Loss and loss expense ratio 70.7 68.3 2.4 69.9 71.2 (1.3)
Underwriting expense ratio 24.8 23.3 1.5 24.2 23.7 0.5
Net catastrophe losses 12.2 pts 14.3 (2.1) 12.7 pts 10.5 2.2
Non-catastrophe property losses and loss expenses 31.9 27.6 4.3 30.6 31.4 (0.8)
Unfavorable prior year reserve development on casualty lines
— — — — 2.4 (2.4)
Current year casualty loss costs
26.6 26.4 0.2 26.6 26.9 (0.3)
Excess and Surplus Lines Segment
For the second quarter, Excess and Surplus Lines premiums, which represent 13% of total NPW, declined 2% from the prior-year period, with average renewal pure price increases of 3.4%. The second quarter 2026 combined ratio was 91.8%, 2.0 points higher than a year ago. The increase was due to higher current year casualty loss costs and non-catastrophe property losses, partially offset by lower catastrophe losses.
The following table shows the variances in key quarter-to-date and year-to-date measures:
Excess and Surplus Lines Segment Quarter Ended June 30, Change Year-to-Date June 30, Change
$ in millions 2026 2025 2026 2025
Net premiums written $ 157.3 160.2 (2) % $ 308.0 309.9 (1) %
Net premiums earned 155.8 148.0 5 307.2 290.9 6
Combined ratio 91.8 % 89.8 2.0 pts 90.7 % 91.1 (0.4) pts
Loss and loss expense ratio 61.0 58.9 2.1 60.0 60.2 (0.2)
Underwriting expense ratio 30.8 30.9 (0.1) 30.7 30.9 (0.2)
Net catastrophe losses 5.1 pts 9.8 (4.7) 4.2 pts 10.6 (6.4)
Non-catastrophe property losses and loss expenses 10.5 8.8 1.7 12.2 9.1 3.1
(Favorable) prior year reserve development on casualty lines
— — — — — —
Current year casualty loss costs
45.4 40.3 5.1 43.6 40.5 3.1
3
Investments Segment
For the second quarter, after-tax net investment income was $119 million, up 18% from a year ago. The after-tax income yield averaged 4.4% for the fixed income securities portfolio and 4.2% for the overall portfolio. With invested assets per dollar of common stockholders' equity of $3.34 as of June 30, 2026, net investment income generated 13.9 points of annualized ROE.
Investments Segment Quarter Ended June 30, Change Year-to-Date June 30, Change
$ in millions, except per share data 2026 2025 2026 2025
Net investment income earned, after-tax $ 119.2 101.4 18 % $ 232.3 197.0 18 %
Net investment income per common share 1.98 1.65 20 3.85 3.22 20
Effective tax rate 20.6 % 20.7 (0.1) pts 20.6 % 20.8 (0.2) pts
Average yields:
Portfolio:
Pre-tax 5.2 4.9 0.3 5.2 4.9 0.3
After-tax 4.2 3.9 0.3 4.1 3.9 0.2
Fixed income securities:
Pre-tax 5.5 % 5.3 0.2 pts 5.4 % 5.2 0.2 pts
After-tax 4.4 4.2 0.2 4.3 4.1 0.2
Annualized ROE contribution 13.9 13.0 0.9 13.6 12.9 0.7
Balance Sheet
$ in millions, except per share data June 30, 2026 December 31, 2025 Change
Total assets $ 15,615.9 15,155.7 3 %
Total investments 11,576.9 11,302.4 2
Long-term debt 901.0 901.9 —
Stockholders’ equity 3,663.0 3,609.0 1
Common stockholders' equity 3,463.0 3,409.0 2
Invested assets per dollar of common stockholders’ equity 3.34 3.32 1
Net premiums written to policyholders' surplus 1.30 1.36 (4)
Book value per common share 58.13 56.74 2
Adjusted book value per common share1
60.56 57.91 5
Debt to total capitalization 19.7 % 20.0 % (0.3) pts
Book value per common share increased by $1.39, or 2%, during the first half of 2026. The increase was primarily attributable to $3.69 of net income per diluted common share, partially offset by $1.25 increase in after-tax net unrealized losses on our fixed income securities portfolio and $0.86 in common stockholder dividends. The increase in after-tax net unrealized losses on our fixed income securities portfolio was primarily driven by higher interest rates. In the second quarter of 2026, the Company repurchased $32 million, or 376,131 shares, of common stock at an average price of $84.72.
Selective's Board of Directors also declared:
• A quarterly cash dividend on common stock of $0.43 per common share payable on September 1, 2026, to holders of record as of August 17, 2026; and
• A quarterly cash dividend of $287.50 per share on our 4.60% Non-Cumulative Preferred Stock, Series B (equivalent to $0.28750 per depositary share) payable on September 15, 2026, to holders of record as of August 31, 2026.
Guidance
For 2026, our full-year expectations are as follows:
•A GAAP combined ratio of 96.5% to 97.5%, including net catastrophe losses of 6.0 points. Our combined ratio estimate assumes no prior year casualty reserve development, as we record our best estimate each quarter. We do not make assumptions about future reserve development;
•After-tax net investment income of $480 million, up from our initial guidance of $465 million;
•An overall effective tax rate of 21.5%; and
•Weighted average shares of 60.2 million on a fully diluted basis, reflecting the shares repurchased in Six Months 2026 and assuming no additional repurchases under our share repurchase authorization.
4
The supplemental investor package, with financial information not included in this press release, is available on the Investors page of Selective’s website at www.Selective.com.
Selective’s quarterly analyst conference call will be simulcast at 8:00 AM ET, on Friday, July 24, 2026, on www.Selective.com. The webcast will be available for rebroadcast until the close of business on August 21, 2026.
About Selective Insurance Group, Inc.
Selective Insurance Group, Inc. (Nasdaq: SIGI) is a holding company for 10 property and casualty insurance companies rated "A+" (Superior) by AM Best. Through independent agents, the insurance companies offer standard insurance for commercial and personal risks and specialty insurance for commercial risks. Selective also offers flood insurance through the National Flood Insurance Program's Write Your Own Program. Selective's unique position as both a leading insurance group and employer of choice is widely recognized, with awards and honors including listing in Forbes Best Midsize Employers and certification for seven consecutive years as a Great Place to Work®.
1Reconciliation of Net Income (Loss) Available to Common Stockholders to Non-GAAP Operating Income (Loss) and Certain Other Non-GAAP Measures
Non-GAAP operating income (loss), non-GAAP operating income (loss) per diluted common share, and non-GAAP operating return on common equity differ from net income (loss) available to common stockholders, net income (loss) available to common stockholders per diluted common share, and return on common equity, respectively, by the exclusion of after-tax net realized and unrealized gains and losses on investments included in net income (loss). Adjusted book value per common share differs from book value per common share by excluding total after-tax unrealized gains and losses on investments included in accumulated other comprehensive income (loss). These non-GAAP measures are used as important financial measures by management, analysts, and investors because the timing of realized investment gains and losses on securities in any given period is largely discretionary. In addition, net realized and unrealized gains and losses on investments could distort the analysis of trends. These operating measurements are not intended to be a substitute for net income (loss) available to common stockholders, net income (loss) available to common stockholders per diluted common share, return on common equity, and book value per common share prepared in accordance with U.S. generally accepted accounting principles (GAAP). Reconciliations of net income (loss) available to common stockholders, net income (loss) available to common stockholders per diluted common share, return on common equity, and book value per common share to non-GAAP operating income (loss), non-GAAP operating income (loss) per diluted common share, non-GAAP operating return on common equity, and adjusted book value per common share, respectively, are provided in the tables below.
Note: All amounts included in this release exclude intercompany transactions.
Reconciliation of Net Income (Loss) Available to Common Stockholders to Non-GAAP Operating Income (Loss)
$ in millions Quarter Ended June 30, Year-to-Date June 30,
2026 2025 2026 2025
Net income (loss) available to common stockholders
$ 127.1 83.6 222.5 191.2
Net realized and unrealized investment (gains) losses included in net income, before tax (12.0) (4.2) (3.7) (4.4)
Tax on reconciling items 2.5 0.9 0.8 0.9
Non-GAAP operating income (loss)
$ 117.6 80.3 219.6 187.8
Reconciliation of Net Income (Loss) Available to Common Stockholders per Diluted Common Share to Non-GAAP Operating Income (Loss) per Diluted Common Share
Quarter Ended June 30, Year-to-Date June 30,
2026 2025 2026 2025
Net income (loss) available to common stockholders per diluted common share
$ 2.11 1.36 3.69 3.12
Net realized and unrealized investment (gains) losses included in net income, before tax (0.20) (0.07) (0.06) (0.07)
Tax on reconciling items 0.04 0.02 0.01 0.01
Non-GAAP operating income (loss) per diluted common share
$ 1.95 1.31 3.64 3.06
5
Reconciliation of Return on Common Equity to Non-GAAP Operating Return on Common Equity
Quarter Ended June 30, Year-to-Date June 30,
2026 2025 2026 2025
Return on Common Equity 14.8 % 10.7 13.0 12.5
Net realized and unrealized investment (gains) losses included in net income, before tax (1.4) (0.5) (0.2) (0.3)
Tax on reconciling items 0.3 0.1 — 0.1
Non-GAAP Operating Return on Common Equity 13.7 % 10.3 12.8 12.3
Reconciliation of Book Value per Common Share to Adjusted Book Value per Common Share
Quarter Ended June 30, Year-to-Date June 30,
2026 2025 2026 2025
Book value per common share $ 58.13 52.09 58.13 52.09
Total unrealized investment (gains) losses included in accumulated other comprehensive (loss) income, before tax 3.07 3.03 3.07 3.03
Tax on reconciling items (0.64) (0.64) (0.64) (0.64)
Adjusted book value per common share $ 60.56 54.48 60.56 54.48
Note: Amounts in the tables above may not foot due to rounding.
6
Forward-Looking Statements
Certain statements in this report, including information incorporated by reference, are “forward-looking statements” defined in the Private Securities Litigation Reform Act of 1995 ("PSLRA"). The PSLRA provides a forward-looking statement safe harbor under the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements discuss our intentions, beliefs, projections, estimations, or forecasts of future events and financial performance. They involve uncertainties and known and unknown risks and other factors that may cause actual results, activity levels, or performance to materially differ from those in or implied by the forward-looking statements. In some cases, forward-looking statements include the words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “attribute,” “confident,” “strong,” “target,” “project,” “intend,” “believe,” “estimate,” “predict,” “potential,” “pro forma,” “seek,” “likely,” “continue,” or comparable terms. Our forward-looking statements are only predictions; we cannot guarantee that any stated expectation will occur or prove correct. We undertake no obligation to publicly update or revise any forward-looking statements for any reason, except as may be required by law.
Factors that could cause our actual results to differ materially from what we project, forecast, or estimate in forward-looking statements include, without limitation:
•Challenging conditions in the economy, global capital markets, the banking sector, and commercial real estate, including prolonged higher inflation, could increase loss costs and negatively impact investment portfolios;
•Deterioration in the public debt, public equity, or private investment markets that could lead to investment losses and interest rate fluctuations;
•Ratings downgrades on individual securities we own could negatively affect investment values, impacting statutory surplus;
•The development and adequacy of our loss reserves and loss expense reserves;
•Frequency and severity of catastrophic events, including natural events that climate change may impact, such as hurricanes, severe convective storms, tornadoes, windstorms, earthquakes, hail, severe winter weather, floods, and fires, and man-made events such as criminal and terrorist acts, including cyber-attacks, explosions, and civil unrest;
•Adverse market, governmental, regulatory, legal, political, or judicial rulings, conditions or actions, including the impact of social inflation;
•The significant geographic concentration of our business in the eastern portion of the United States;
•The cost, terms, 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;
•Geopolitical developments, including ongoing wars and conflicts such as the recent military conflict in the Middle East, which have contributed to volatility in global energy markets, international shipping activity, and financial markets, and may exacerbate inflationary pressures, supply chain disruption, and insurance loss costs;
•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 marketplace brand damage, increased senior executive focus on crisis and reputational management issues, and/or increased expenses, particularly if we experience a significant privacy breach;
•Potential tax or federal financial regulatory reform provisions that could pose certain risks to our operations;
•Our ability to maintain favorable financial ratings, which may include sustainability considerations, 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 our Annual Report on Form 10-K and other periodic reports.
Investor Contact:
Brad B. Wilson
973-948-1283
Brad.Wilson@Selective.com
Media Contact:
Jamie M. Beal
973-948-1234
Jamie.Beal@Selective.com
Selective Insurance Group, Inc.
40 Wantage Avenue
Branchville, New Jersey 07890
www.Selective.com
7
EX-99.2
EX-99.2
Filename: q22026pressreleasesuppleme.htm · Sequence: 3
Document
Exhibit 99.2
FINANCIAL SUPPLEMENT
SECOND QUARTER 2026
Forward-Looking Statements
Certain statements in this report, including information incorporated by reference, are “forward-looking statements” defined in the Private Securities Litigation Reform Act of 1995 ("PSLRA"). The PSLRA provides a forward-looking statement safe harbor under the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements discuss our intentions, beliefs, projections, estimations, or forecasts of future events and financial performance. They involve uncertainties and known and unknown risks and other factors that may cause actual results, activity levels, or performance to materially differ from those in or implied by the forward-looking statements. In some cases, forward-looking statements include the words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “attribute,” “confident,” “strong,” “target,” “project,” “intend,” “believe,” “estimate,” “predict,” “potential,” “pro forma,” “seek,” “likely,” “continue,” or comparable terms. Our forward-looking statements are only predictions; we cannot guarantee that any stated expectation will occur or prove correct. We undertake no obligation to publicly update or revise any forward-looking statements for any reason, except as may be required by law.
Factors that could cause our actual results to differ materially from what we project, forecast, or estimate in forward-looking statements include, without limitation:
•Challenging conditions in the economy, global capital markets, the banking sector, and commercial real estate, including prolonged higher inflation, could increase loss costs and negatively impact investment portfolios;
•Deterioration in the public debt, public equity, or private investment markets that could lead to investment losses and interest rate fluctuations;
•Ratings downgrades on individual securities we own could negatively affect investment values, impacting statutory surplus;
•The development and adequacy of our loss reserves and loss expense reserves;
•Frequency and severity of catastrophic events, including natural events that climate change may impact, such as hurricanes, severe convective storms, tornadoes, windstorms, earthquakes, hail, severe winter weather, floods, and fires, and man-made events such as criminal and terrorist acts, including cyber-attacks, explosions, and civil unrest;
•Adverse market, governmental, regulatory, legal, political, or judicial rulings, conditions or actions, including the impact of social inflation;
•The significant geographic concentration of our business in the eastern portion of the United States;
•The cost, terms, 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;
•Geopolitical developments, including ongoing wars and conflicts such as the recent military conflict in the Middle East, which have contributed to volatility in global energy markets, international shipping activity, and financial markets, and may exacerbate inflationary pressures, supply chain disruption, and insurance loss costs;
•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 marketplace brand damage, increased senior executive focus on crisis and reputational management issues, and/or increased expenses, particularly if we experience a significant privacy breach;
•Potential tax or federal financial regulatory reform provisions that could pose certain risks to our operations;
•Our ability to maintain favorable financial ratings, which may include sustainability considerations, 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 our Annual Report on Form 10-K and other periodic reports.
Selective Insurance Group, Inc. & Consolidated Subsidiaries
TABLE OF CONTENTS
Page
Consolidated Financial Highlights
1
Consolidated Statements of Operations
2
Consolidated Balance Sheets
3
Financial Metrics
4
Consolidated Insurance Operations Statement of Operations
5
Standard Commercial Lines Statement of Operations and Supplemental Data
6
Standard Commercial Lines GAAP Line of Business Results
7
Standard Personal Lines Statement of Operations and Supplemental Data
8
Standard Personal Lines GAAP Line of Business Results
9
Excess and Surplus Lines Statement of Operations and Supplemental Data
10
Excess and Surplus Lines GAAP Line of Business Results
11
Consolidated Investment Income
12
Consolidated Composition of Invested Assets
13
Credit Quality of Invested Assets
14
Reconciliation of Net Income (Loss) Available to Common Stockholders to Non-GAAP Operating Income (Loss) and Certain Other Non-GAAP Measures
15
Ratings and Contact Information
16
Selective Insurance Group, Inc. & Consolidated Subsidiaries
CONSOLIDATED FINANCIAL HIGHLIGHTS
(Unaudited)
Quarter ended Year-to-date
June 30, Mar. 31, Dec. 31, Sept. 30, June 30, June 30, June 30,
($ and shares in millions, except per share data) 2026 2026 2025 2025 2025 2026 2025
For Period Ended
Gross premiums written $ 1,421.9 1,422.5 1,318.0 1,419.3 1,496.2 2,844.4 2,925.1
Net premiums written 1,220.7 1,225.5 1,129.5 1,207.9 1,288.6 2,446.2 2,529.1
Change in net premiums written, from comparable prior year period (5) % (1) 4 4 5 (3) 6
Underwriting income (loss), before-tax $ 24.4 21.2 76.0 16.7 (2.4) 45.6 43.2
Net investment income earned, before-tax 150.2 142.4 143.8 138.7 128.0 292.6 248.7
Net realized and unrealized investment gains (losses), before-tax 12.0 (8.3) (4.1) 8.1 4.2 3.7 4.4
Net income (loss)
129.4 97.7 155.2 115.3 85.9 227.1 195.8
Net income (loss) available to common stockholders(1)
127.1 95.4 152.9 113.0 83.6 222.5 191.2
Non-GAAP operating income (loss)(2)
117.6 101.9 156.2 106.7 80.3 219.6 187.8
At Period End
Total assets $ 15,615.9 15,321.9 15,155.7 14,980.4 14,468.4 15,615.9 14,468.4
Total invested assets 11,576.9 11,391.2 11,302.4 11,051.5 10,553.6 11,576.9 10,553.6
Stockholders' equity 3,663.0 3,587.4 3,609.0 3,490.0 3,369.4 3,663.0 3,369.4
Common stockholders' equity(3)
3,463.0 3,387.4 3,409.0 3,290.0 3,169.4 3,463.0 3,169.4
Common shares outstanding 59.6 59.9 60.1 60.4 60.8 59.6 60.8
Per Share and Share Data
Net income (loss) available to common stockholders per common share (diluted)
$ 2.11 1.58 2.52 1.85 1.36 3.69 3.12
Non-GAAP operating income (loss) per common share (diluted)(2)
1.95 1.69 2.57 1.75 1.31 3.64 3.06
Weighted average common shares outstanding (diluted) 60.2 60.5 60.7 61.0 61.3 60.3 61.3
Book value per common share $ 58.13 56.58 56.74 54.46 52.09 58.13 52.09
Adjusted book value per common share(2)
60.56 58.94 57.91 55.83 54.48 60.56 54.48
Dividends paid per common share 0.43 0.43 0.43 0.38 0.38 0.86 0.76
Financial Ratios
Loss and loss expense ratio 67.2 % 67.0 63.2 67.9 69.3 67.1 66.9
Underwriting expense ratio 30.8 31.2 30.5 30.6 30.8 31.0 31.2
Dividends to policyholders ratio — 0.1 0.1 0.1 0.1 — 0.1
GAAP combined ratio 98.0 % 98.3 93.8 98.6 100.2 98.1 98.2
Return on common stockholders' equity ("ROE") 14.8 11.2 18.3 14.0 10.7 13.0 12.5
Non-GAAP operating ROE(2)
13.7 12.0 18.7 13.2 10.3 12.8 12.3
Debt to total capitalization 19.7 20.1 20.0 20.5 21.1 19.7 21.1
Net premiums written to policyholders' surplus 1.30 1.35 1.36 1.42 1.45 1.30 1.45
Invested assets per dollar of common stockholders' equity $ 3.34 3.36 3.32 3.36 3.33 3.34 3.33
(1)
Net income (loss) available to common stockholders is net income (loss) 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 ended Year-to-date
June 30, Mar. 31, Dec. 31, Sept. 30, June 30, June 30, June 30,
($ and shares in millions, except per share data) 2026 2026 2025 2025 2025 2026 2025
Revenues
Net premiums earned $ 1,215.5 1,217.2 1,216.7 1,204.7 1,188.1 2,432.7 2,346.8
Net investment income earned 150.2 142.4 143.8 138.7 128.0 292.6 248.7
Net realized and unrealized gains (losses) 12.0 (8.3) (4.1) 8.1 4.2 3.7 4.4
Other income 9.4 7.6 8.5 8.7 6.5 17.0 12.1
Total revenues 1,387.0 1,358.9 1,364.9 1,360.1 1,326.7 2,746.0 2,611.9
Expenses
Loss and loss expense incurred 816.3 815.5 768.5 819.0 823.9 1,631.8 1,570.2
Amortization of deferred policy acquisition costs 248.1 253.4 254.5 250.2 250.3 501.5 497.7
Other insurance expenses 136.2 134.7 126.3 127.5 122.8 270.9 247.7
Interest expense 13.2 13.2 13.2 13.3 13.3 26.4 22.8
Corporate expenses 10.5 17.9 6.3 4.4 7.6 28.4 25.7
Total expenses 1,224.2 1,234.7 1,168.8 1,214.4 1,217.8 2,458.9 2,364.1
Income (loss) before income tax $ 162.8 124.2 196.1 145.7 108.9 287.0 247.8
Income tax expense (benefit) 33.5 26.5 40.9 30.4 23.0 60.0 52.0
Net income (loss) $ 129.4 97.7 155.2 115.3 85.9 227.1 195.8
Preferred stock dividends 2.3 2.3 2.3 2.3 2.3 4.6 4.6
Net income (loss) available to common stockholders
$ 127.1 95.4 152.9 113.0 83.6 222.5 191.2
Net realized and unrealized investment (gains) losses, after tax(1)
(9.5) 6.6 3.3 (6.4) (3.3) (2.9) (3.5)
Non-GAAP operating income (loss)(2)
$ 117.6 101.9 156.2 106.7 80.3 219.6 187.8
Weighted average common shares outstanding (diluted) 60.2 60.5 60.7 61.0 61.3 60.3 61.3
Net income (loss) available to common stockholders per common share (diluted)
$ 2.11 1.58 2.52 1.85 1.36 3.69 3.12
Non-GAAP operating income (loss) per common share (diluted)(2)
$ 1.95 1.69 2.57 1.75 1.31 3.64 3.06
(1)
Amounts are provided to reconcile net income (loss) available to common stockholders to non-GAAP operating income (loss).
(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)
June 30, Mar. 31, Dec. 31, Sept. 30, June 30,
($ in millions, except per share data) 2026 2026 2025 2025 2025
ASSETS
Investments
Fixed income securities, held-to-maturity, net of allowance for credit losses $ 20.1 21.3 23.9 24.2 24.6
Fixed income securities, available-for-sale, at fair value, net of allowance for credit losses 9,909.8 9,727.8 9,457.2 9,275.4 8,876.7
Commercial mortgage loans, net of allowance for credit losses 269.7 273.7 277.7 273.5 271.9
Equity securities, at fair value 413.1 388.3 384.4 380.1 318.1
Short-term investments 378.9 451.8 648.5 587.9 531.4
Alternative investments 473.9 431.4 418.5 417.1 435.0
Other investments 111.4 96.9 92.2 93.3 96.0
Total investments
11,576.9 11,391.2 11,302.4 11,051.5 10,553.6
Cash 0.6 0.2 0.3 0.4 0.4
Restricted cash 10.4 10.7 17.6 23.7 37.9
Accrued investment income 101.6 93.7 92.0 86.8 86.9
Premiums receivable, net of allowance for credit losses 1,637.7 1,582.2 1,533.9 1,616.5 1,662.6
Reinsurance recoverable, net of allowance for credit losses 952.2 907.7 915.5 947.4 881.4
Prepaid reinsurance premiums 273.1 266.9 266.3 274.4 252.6
Current federal income tax 1.9 — — 0.6 13.2
Deferred federal income tax 137.9 133.7 110.9 113.0 120.7
Property and equipment, net of accumulated depreciation and amortization 116.5 109.9 106.4 102.4 100.0
Deferred policy acquisition costs 484.6 491.2 492.3 510.3 510.4
Goodwill 7.8 7.8 7.8 7.8 7.8
Other assets 314.8 326.7 310.2 245.4 241.1
Total assets $ 15,615.9 15,321.9 15,155.7 14,980.4 14,468.4
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Reserve for loss and loss expense $ 7,681.4 7,418.4 7,225.4 7,076.4 6,811.2
Unearned premiums 2,765.7 2,754.4 2,745.5 2,840.8 2,815.7
Long-term debt 901.0 901.4 901.9 902.3 902.7
Current federal income tax — 44.8 16.9 — —
Accrued salaries and benefits 122.2 115.2 140.8 131.8 107.7
Other liabilities 482.6 500.4 516.2 539.1 461.7
Total liabilities
$ 11,953.0 11,734.6 11,546.7 11,490.4 11,099.1
Stockholders' Equity
Preferred stock of $0 par value per share $ 200.0 200.0 200.0 200.0 200.0
Common stock of $2 par value per share 212.5 212.4 212.0 211.9 211.8
Additional paid-in capital 614.7 605.6 591.3 584.4 580.4
Retained earnings 3,671.6 3,570.5 3,500.8 3,373.9 3,284.0
Accumulated other comprehensive income (loss)
(225.1) (222.6) (151.7) (167.3) (230.6)
Treasury stock, at cost (810.8) (778.5) (743.4) (712.9) (676.3)
Total stockholders' equity $ 3,663.0 3,587.4 3,609.0 3,490.0 3,369.4
Commitments and contingencies
Total liabilities and stockholders' equity $ 15,615.9 15,321.9 15,155.7 14,980.4 14,468.4
Note: Amounts may not foot due to rounding.
Page 3
Selective Insurance Group, Inc. & Consolidated Subsidiaries
FINANCIAL METRICS
(Unaudited)
Quarter ended Year-to-date
June 30, Mar. 31, Dec. 31, Sept. 30, June 30, June 30, June 30,
($ and shares in millions, except per share data) 2026 2026 2025 2025 2025 2026 2025
Book value per common share
Common stockholders' equity $ 3,463.0 3,387.4 3,409.0 3,290.0 3,169.4 3,463.0 3,169.4
Common shares issued and outstanding, at period end 59.6 59.9 60.1 60.4 60.8 59.6 60.8
Book value per common share $ 58.13 56.58 56.74 54.46 52.09 58.13 52.09
Adjusted book value per common share(1)
60.56 58.94 57.91 55.83 54.48 60.56 54.48
Financial results (after-tax)
Underwriting income (loss) 19.3 16.8 60.0 13.2 (1.9) 36.1 34.1
Net investment income 119.2 113.1 114.2 110.0 101.4 232.3 197.0
Interest expense and preferred stock dividends (12.7) (12.7) (12.8) (12.8) (12.8) (25.5) (22.6)
Corporate expense (8.1) (15.2) (5.2) (3.7) (6.4) (23.3) (20.8)
Net realized and unrealized investment gains (losses) 9.5 (6.6) (3.3) 6.4 3.3 2.9 3.5
Total after-tax net income (loss) available to common stockholders
127.1 95.4 152.9 113.0 83.6 222.5 191.2
Return on average equity
Insurance segments 2.3 % 2.0 7.2 1.6 (0.2) 2.1 2.2
Net investment income 13.9 13.3 13.6 13.6 13.0 13.6 12.9
Interest expense and preferred stock dividends (1.5) (1.5) (1.5) (1.6) (1.6) (1.5) (1.5)
Corporate expense (1.0) (1.8) (0.6) (0.4) (0.9) (1.4) (1.3)
Net realized and unrealized investment gains (losses) 1.1 (0.8) (0.4) 0.8 0.4 0.2 0.2
ROE 14.8 11.2 18.3 14.0 10.7 13.0 12.5
Net realized and unrealized (gains) losses(2)
(1.1) 0.8 0.4 (0.8) (0.4) (0.2) (0.2)
Non-GAAP Operating ROE(1)
13.7 % 12.0 18.7 13.2 10.3 12.8 12.3
Debt and total capitalization
Notes payable:
3.03% Borrowings from Federal Home Loan Bank of Indianapolis $ 60.0 60.0 60.0 60.0 60.0 60.0 60.0
7.25% Senior Notes 49.9 49.9 49.8 49.8 49.8 49.9 49.8
5.90% Senior Notes 396.6 396.4 396.3 396.2 396.0 396.6 396.0
6.70% Senior Notes 99.5 99.5 99.4 99.4 99.4 99.5 99.4
5.375% Senior Notes 292.8 292.8 292.7 292.6 292.6 292.8 292.6
Finance lease obligations 2.2 2.9 3.6 4.2 4.9 2.2 4.9
Total debt 901.0 901.4 901.9 902.3 902.7 901.0 902.7
Stockholders' equity 3,663.0 3,587.4 3,609.0 3,490.0 3,369.4 3,663.0 3,369.4
Total capitalization $ 4,563.9 4,488.8 4,510.8 4,392.3 4,272.1 4,563.9 4,272.1
Ratio of debt to total capitalization 19.7 % 20.1 20.0 20.5 21.1 19.7 21.1
Policyholders' surplus $ 3,692.1 3,601.0 3,573.3 3,407.4 3,288.5 3,692.1 3,288.5
(1)
Non-GAAP measure. Refer to Page 15 for definition.
(2)
Amounts are provided to reconcile ROE to non-GAAP operating ROE.
Note: Amounts may not foot due to rounding.
Page 4
Selective Insurance Group, Inc. & Consolidated Subsidiaries
CONSOLIDATED INSURANCE OPERATIONS
STATEMENT OF OPERATIONS
(Unaudited)
Quarter ended Year-to-date
June 30, Mar. 31, Dec. 31, Sept. 30, June 30, June 30, June 30,
($ in millions) 2026 2026 2025 2025 2025 2026 2025
Underwriting results
Net premiums written $ 1,220.7 1,225.5 1,129.5 1,207.9 1,288.6 2,446.2 2,529.1
Change in net premiums written, from comparable prior year period (5) % (1) 4 4 5 (3) 6
Net premiums earned $ 1,215.5 1,217.2 1,216.7 1,204.7 1,188.1 2,432.7 2,346.8
Losses and loss expenses incurred 816.3 815.5 768.5 819.0 823.9 1,631.8 1,570.2
Net underwriting expenses incurred 374.4 379.7 371.6 368.1 365.4 754.1 731.2
Dividends to policyholders 0.5 0.7 0.6 0.9 1.2 1.2 2.1
GAAP underwriting income (loss) $ 24.4 21.2 76.0 16.7 (2.4) 45.6 43.2
Net catastrophe losses $ 68.5 75.4 21.0 24.9 79.9 143.9 123.3
(Favorable) unfavorable prior year casualty reserve development — — — 40.0 45.0 — 50.0
Underwriting ratios
Loss and loss expense ratio 67.2 % 67.0 63.2 67.9 69.3 67.1 66.9
Underwriting expense ratio 30.8 31.2 30.5 30.6 30.8 31.0 31.2
Dividends to policyholders ratio — 0.1 0.1 0.1 0.1 — 0.1
Combined ratio 98.0 % 98.3 93.8 98.6 100.2 98.1 98.2
Net catastrophe losses 5.6 pts 6.2 1.7 2.1 6.7 5.9 5.3
(Favorable) unfavorable prior year casualty reserve development — — — 3.3 3.8 — 2.1
Combined ratio before net catastrophe losses 92.4 % 92.1 92.1 96.5 93.5 92.2 92.9
Combined ratio before net catastrophe losses and prior year casualty development 92.4 % 92.1 92.1 93.2 89.7 92.2 90.8
Other Statistics
Non-catastrophe property loss and loss expenses $ 170.5 178.1 159.6 169.6 173.2 348.6 351.9
Non-catastrophe property loss and loss expenses 14.0 pts 14.6 13.1 14.1 14.6 14.3 15.0
Direct new business $ 206.1 214.0 223.7 233.2 248.1 420.0 499.4
Renewal pure price increases 6.5 % 7.2 8.3 9.6 9.9 6.8 10.1
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 ended Year-to-date
June 30, Mar. 31, Dec. 31, Sept. 30, June 30, June 30, June 30,
($ in millions) 2026 2026 2025 2025 2025 2026 2025
Underwriting results
Net premiums written $ 961.9 992.4 875.6 940.8 1,018.0 1,954.2 2,021.2
Change in net premiums written, from comparable prior year period (6) % (1) 5 4 6 (3) 7
Net premiums earned $ 962.0 965.8 956.8 947.3 937.6 1,927.8 1,849.8
Losses and loss expenses incurred 652.2 656.8 586.9 658.0 666.8 1,309.1 1,248.4
Net underwriting expenses incurred 302.1 310.0 301.2 298.6 295.9 612.1 592.5
Dividends to policyholders 0.5 0.7 0.6 0.9 1.2 1.2 2.1
GAAP underwriting income (loss) $ 7.2 (1.8) 68.0 (10.2) (26.1) 5.4 6.8
Net catastrophe losses $ 48.7 57.2 12.8 15.0 50.9 105.8 70.7
(Favorable) unfavorable prior year casualty reserve development — — (15.0) 35.0 45.0 — 45.0
Underwriting ratios
Loss and loss expense ratio 67.8 % 68.0 61.3 69.5 71.1 67.8 67.5
Underwriting expense ratio 31.4 32.1 31.5 31.5 31.6 31.8 32.0
Dividends to policyholders ratio 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Combined ratio 99.3 % 100.2 92.9 101.1 102.8 99.7 99.6
Net catastrophe losses 5.1 pts 5.9 1.3 1.6 5.4 5.5 3.8
(Favorable) unfavorable prior year casualty reserve development — — (1.6) 3.7 4.8 — 2.4
Combined ratio before net catastrophe losses 94.2 % 94.3 91.6 99.5 97.4 94.2 95.8
Combined ratio before net catastrophe losses and prior year casualty development 94.2 % 94.3 93.2 95.8 92.6 94.2 93.4
Other Statistics
Non-catastrophe property loss and loss expenses $ 122.9 127.8 110.4 118.7 131.9 250.7 260.7
Non-catastrophe property loss and loss expenses 12.8 pts 13.2 11.5 12.5 14.1 13.0 14.1
Direct new business $ 124.0 132.0 137.0 146.6 158.2 256.0 330.3
Renewal pure price increases 6.5 % 7.1 7.5 8.9 8.9 6.8 9.0
Retention 81 82 82 82 83 81 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 June 30, 2026 Quarter ended June 30, 2025
General Commercial Commercial Workers General Commercial Commercial Workers
($ in millions) Liability Auto
Property(1)
Compensation BOP Bonds Other Total Liability Auto
Property(1)
Compensation BOP Bonds Other Total
Net premiums written $ 328.1 289.9 199.0 76.6 50.1 8.7 9.4 961.9 341.6 313.0 207.9 83.0 50.3 13.6 8.6 1,018.0
Net premiums earned 318.7 291.4 198.5 81.9 52.4 9.9 9.2 962.0 305.8 288.8 191.0 82.0 48.4 13.3 8.3 937.6
Underwriting income (loss) (19.7) (5.3) 20.2 2.8 4.7 (0.4) 4.9 7.2 (31.3) (8.4) 7.4 (2.9) 2.5 2.0 4.5 (26.1)
Loss and loss expense ratio 74.8 % 72.2 55.3 71.8 58.7 40.2 — 67.8 78.7 73.3 61.4 77.1 62.7 29.1 (2.1) 71.1
Underwriting expense ratio 31.5 29.7 34.6 23.1 32.3 63.9 46.7 31.4 31.5 29.6 34.7 25.2 32.1 55.5 48.0 31.6
Dividend ratio (0.1) (0.1) (0.1) 1.6 — — — 0.1 — — — 1.2 — — — 0.1
Combined ratio 106.2 % 101.8 89.8 96.5 91.0 104.1 46.7 99.3 110.2 102.9 96.1 103.5 94.8 84.6 45.9 102.8
Net catastrophe losses — 0.8 20.9 — 9.3 — — 5.1 — 1.4 17.8 — 26.5 — — 5.4
(Favorable) unfavorable prior year casualty reserve development — — — — — — — — 6.5 8.7 — — — — — 4.8
Combined ratio before net catastrophe losses and prior year casualty development 106.2 % 101.0 68.9 96.5 81.7 104.1 46.7 94.2 103.7 92.8 78.3 103.5 68.3 84.6 45.9 92.6
Year-to-Date June 30, 2026 Year-to-Date June 30, 2025
General Commercial Commercial Workers General Commercial Commercial Workers
($ in millions) Liability Auto
Property(1)
Compensation BOP Bonds Other Total Liability Auto
Property(1)
Compensation BOP Bonds Other Total
Net premiums written $ 662.2 591.4 397.8 159.3 104.0 20.1 19.5 1,954.2 675.5 625.6 404.2 169.1 101.2 28.0 17.6 2,021.2
Net premiums earned 633.8 587.8 400.1 161.7 104.2 22.0 18.2 1,927.8 600.5 572.3 377.6 161.1 95.3 26.5 16.5 1,849.8
Underwriting income (loss) (43.5) 0.2 27.2 1.8 9.7 0.7 9.4 5.4 (47.2) (0.8) 37.5 (7.6) 12.6 3.8 8.6 6.8
Loss and loss expense ratio 74.7 % 70.2 59.1 73.5 57.6 37.0 0.6 67.8 75.7 69.9 55.7 77.5 53.6 29.1 0.5 67.5
Underwriting expense ratio 32.2 29.9 34.1 24.3 33.1 59.6 47.9 31.8 32.2 30.2 34.4 26.1 33.2 56.8 47.7 32.0
Dividend ratio — (0.1) — 1.1 — — — 0.1 — — — 1.1 — — — 0.1
Combined ratio 106.9 % 100.0 93.2 98.9 90.7 96.6 48.5 99.7 107.9 100.1 90.1 104.7 86.8 85.9 48.2 99.6
Net catastrophe losses — 0.5 22.8 — 11.3 — — 5.5 — 1.0 13.3 — 15.5 — — 3.8
(Favorable) unfavorable prior year casualty reserve development — — — — — — — — 3.3 4.4 — — — — — 2.4
Combined ratio before net catastrophe losses and prior year casualty development 106.9 % 99.5 70.4 98.9 79.4 96.6 48.5 94.2 104.6 94.7 76.8 104.7 71.3 85.9 48.2 93.4
(1) Includes Inland Marine.
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 ended Year-to-date
June 30, Mar. 31, Dec. 31, Sept. 30, June 30, June 30, June 30,
($ in millions) 2026 2026 2025 2025 2025 2026 2025
Underwriting results
Net premiums written $ 101.5 82.5 95.5 104.2 110.5 184.0 198.0
Change in net premiums written, from comparable prior year period (8) % (6) (8) (6) (5) (7) (8)
Net premiums earned $ 97.6 100.0 100.6 101.5 102.4 197.7 206.0
Losses and loss expenses incurred 69.0 69.3 79.7 89.3 70.0 138.3 146.6
Net underwriting expenses incurred 24.2 23.6 23.9 22.5 23.9 47.8 48.8
GAAP underwriting income (loss) $ 4.4 7.2 (3.0) (10.2) 8.6 11.6 10.6
Net catastrophe losses $ 11.9 13.2 7.3 12.2 14.6 25.1 21.7
(Favorable) unfavorable prior year casualty reserve development — — 5.0 5.0 — — 5.0
Underwriting ratios
Loss and loss expense ratio 70.7 % 69.2 79.3 88.0 68.3 69.9 71.2
Underwriting expense ratio 24.8 23.6 23.7 22.1 23.3 24.2 23.7
Combined ratio 95.5 % 92.8 103.0 110.1 91.6 94.1 94.9
Net catastrophe losses 12.2 pts 13.2 7.2 12.0 14.3 12.7 10.5
(Favorable) unfavorable prior year casualty reserve development — — 5.0 4.9 — — 2.4
Combined ratio before net catastrophe losses 83.3 % 79.6 95.8 98.1 77.3 81.4 84.4
Combined ratio before net catastrophe losses and prior year casualty development 83.3 % 79.6 90.8 93.2 77.3 81.4 82.0
Other Statistics
Non-catastrophe property loss and loss expenses $ 31.2 29.3 33.3 39.9 28.3 60.5 64.8
Non-catastrophe property loss and loss expenses 31.9 pts 29.2 33.1 39.3 27.6 30.6 31.4
Direct new business $ 8.3 7.6 10.9 12.8 12.9 15.8 21.8
Renewal pure price increases 8.9 % 10.6 15.1 16.9 19.0 9.6 21.3
Retention 79 78 80 79 79 79 77
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 June 30, 2026 Quarter ended June 30, 2025
Personal Personal
($ in millions) Auto Homeowners Other Total Auto Homeowners Other Total
Net premiums written $ 43.8 54.3 3.3 101.5 52.7 54.6 3.2 110.5
Net premiums earned 44.7 49.9 3.0 97.6 51.3 48.3 2.8 102.4
Underwriting income (loss) (2.6) 2.9 4.2 4.4 0.4 3.0 5.2 8.6
Loss and loss expense ratio 79.0 % 65.1 41.6 70.7 74.1 66.0 4.1 68.3
Underwriting expense ratio 26.9 29.2 (79.1) 24.8 25.1 27.8 (89.6) 23.3
Combined ratio 105.9 % 94.3 (37.5) 95.5 99.2 93.8 (85.5) 91.6
Net catastrophe losses 1.0 23.0 — 12.2 0.8 29.3 — 14.3
(Favorable) unfavorable prior year casualty reserve development — — — — — — — —
Combined ratio before net catastrophe losses and prior year casualty development 104.9 % 71.3 (37.5) 83.3 98.4 64.5 (85.5) 77.3
Year-to-Date June 30, 2026 Year-to-Date June 30, 2025
Personal Personal
($ in millions) Auto Homeowners Other Total Auto Homeowners Other Total
Net premiums written $ 81.8 95.9 6.2 184.0 98.1 94.4 5.6 198.0
Net premiums earned 91.3 100.0 6.3 197.7 104.3 96.3 5.5 206.0
Underwriting income (loss) (2.3) 5.4 8.5 11.6 (5.5) 6.4 9.7 10.6
Loss and loss expense ratio 76.2 % 66.1 40.7 69.9 79.7 65.5 9.8 71.2
Underwriting expense ratio 26.4 28.5 (75.4) 24.2 25.6 27.8 (85.0) 23.7
Combined ratio 102.6 % 94.6 (34.7) 94.1 105.3 93.3 (75.2) 94.9
Net catastrophe losses 0.8 24.4 — 12.7 0.5 22.0 — 10.5
(Favorable) unfavorable prior year casualty reserve development — — — — 4.8 — — 2.4
Combined ratio before net catastrophe losses and prior year casualty development 101.8 % 70.2 (34.7) 81.4 100.0 71.3 (75.2) 82.0
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 ended Year-to-date
June 30, Mar. 31, Dec. 31, Sept. 30, June 30, June 30, June 30,
($ in millions) 2026 2026 2025 2025 2025 2026 2025
Underwriting results
Net premiums written $ 157.3 150.7 158.4 162.9 160.2 308.0 309.9
Change in net premiums written, from comparable prior year period (2) % 1 4 14 9 (1) 14
Net premiums earned $ 155.8 151.4 159.3 155.9 148.0 307.2 290.9
Losses and loss expenses incurred 95.0 89.4 101.8 71.8 87.2 184.4 175.1
Net underwriting expenses incurred 48.1 46.1 46.5 47.0 45.7 94.2 89.9
GAAP underwriting income (loss) $ 12.8 15.9 11.0 37.1 15.2 28.6 25.9
Net catastrophe losses $ 7.9 5.0 0.9 (2.3) 14.5 12.9 30.9
(Favorable) unfavorable prior year casualty reserve development — — 10.0 — — — —
Underwriting ratios
Loss and loss expense ratio 61.0 % 59.0 63.9 46.1 58.9 60.0 60.2
Underwriting expense ratio 30.8 30.5 29.2 30.1 30.9 30.7 30.9
Combined ratio 91.8 % 89.5 93.1 76.2 89.8 90.7 91.1
Net catastrophe losses 5.1 pts 3.3 0.6 (1.5) 9.8 4.2 10.6
(Favorable) unfavorable prior year casualty reserve development — — 6.3 — — — —
Combined ratio before net catastrophe losses 86.7 % 86.2 92.5 77.7 80.0 86.5 80.5
Combined ratio before net catastrophe losses and prior year casualty development 86.7 % 86.2 86.2 77.7 80.0 86.5 80.5
Other Statistics
Non-catastrophe property loss and loss expenses $ 16.4 21.0 15.9 11.0 13.1 37.4 26.5
Non-catastrophe property loss and loss expenses 10.5 pts 13.9 10.0 7.0 8.8 12.2 9.1
Direct new business $ 73.8 74.4 75.8 73.9 77.0 148.2 147.2
Renewal pure price increases 3.4 % 4.1 7.8 8.3 9.3 3.6 9.0
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 June 30, 2026 Quarter ended June 30, 2025
($ in millions) Casualty Property Total Casualty Property Total
Net premiums written $ 93.0 64.4 157.3 93.9 66.2 160.2
Net premiums earned 92.7 63.2 155.8 87.4 60.6 148.0
Underwriting income (loss) (6.7) 19.4 12.8 0.3 14.9 15.2
Loss and loss expense ratio 76.3 % 38.6 61.0 68.2 45.5 58.9
Underwriting expense ratio 30.9 30.7 30.8 31.5 30.0 30.9
Combined ratio 107.2 % 69.3 91.8 99.7 75.5 89.8
Net catastrophe losses — 12.6 5.1 — 23.8 9.8
(Favorable) unfavorable prior year casualty reserve development — — — — — —
Combined ratio before net catastrophe losses and prior year casualty development 107.2 % 56.7 86.7 99.7 51.7 80.0
Year-to-Date June 30, 2026 Year-to-Date June 30, 2025
($ in millions) Casualty Property Total Casualty Property Total
Net premiums written $ 184.0 124.0 308.0 184.6 125.2 309.9
Net premiums earned 182.2 125.1 307.2 172.5 118.4 290.9
Underwriting income (loss) (8.3) 36.9 28.6 (0.1) 26.0 25.9
Loss and loss expense ratio 73.5 % 40.3 60.0 68.3 48.4 60.2
Underwriting expense ratio 31.0 30.2 30.7 31.8 29.6 30.9
Combined ratio 104.5 % 70.5 90.7 100.1 78.0 91.1
Net catastrophe losses — 10.3 4.2 — 26.1 10.6
(Favorable) unfavorable prior year casualty reserve development — — — — — —
Combined ratio before net catastrophe losses and prior year casualty development 104.5 % 60.2 86.5 100.1 51.9 80.5
Note: Amounts may not foot due to rounding.
Page 11
Selective Insurance Group, Inc. & Consolidated Subsidiaries
CONSOLIDATED INVESTMENT INCOME
(Unaudited)
Quarter ended Year-to-date
June 30, Mar. 31, Dec. 31, Sept. 30, June 30, June 30, June 30,
($ in millions) 2026 2026 2025 2025 2025 2026 2025
Net investment income
Fixed income securities
Taxable $ 131.3 123.1 118.1 114.7 113.9 254.4 217.5
Tax-exempt 3.3 3.5 3.2 2.5 1.8 6.8 3.3
Total fixed income securities 134.6 126.6 121.3 117.2 115.7 261.3 220.8
Commercial mortgage loans 4.1 4.2 4.1 4.0 3.8 8.3 7.4
Equity securities 5.5 4.2 10.2 5.2 4.9 9.7 8.5
Alternative investments 8.6 6.9 9.5 11.8 4.0 15.5 11.1
Other investments 0.4 — 0.2 0.2 0.2 0.5 0.4
Short-term investments 3.2 5.5 5.1 5.7 5.3 8.7 11.5
Investment income 156.5 147.5 150.4 144.1 133.8 304.0 259.6
Investment expenses (6.3) (5.1) (6.5) (5.4) (5.9) (11.4) (11.0)
Investment tax expense (31.0) (29.3) (29.7) (28.7) (26.5) (60.3) (51.6)
Total net investment income, after-tax $ 119.2 113.1 114.2 110.0 101.4 232.3 197.0
Net realized and unrealized investment gains (losses), pre-tax $ 12.0 (8.3) (4.1) 8.1 4.2 3.7 4.4
Change in unrealized gains (losses) recognized in other comprehensive income, pre-tax $ (3.9) (90.6) 16.4 79.3 51.6 (94.5) 132.7
Average investment yields
Fixed income investments, pre-tax 5.5 % 5.3 5.2 5.2 5.3 5.4 5.2
Fixed income investments, after-tax 4.4 4.2 4.1 4.1 4.2 4.3 4.1
Total portfolio, pre-tax 5.2 % 5.0 5.1 5.1 4.9 5.2 4.9
Total portfolio, after-tax 4.2 4.0 4.1 4.1 3.9 4.1 3.9
Effective tax rate on net investment income 20.6 % 20.6 20.6 20.7 20.7 20.6 20.8
New money purchase rates for fixed income investments, pre-tax 6.0 5.7 6.0 5.8 5.7 5.8 5.9
New money purchase rates for fixed income investments, after-tax 4.7 4.5 4.7 4.6 4.6 4.6 4.7
Effective duration of fixed income investments including short-term (in years) 4.3 4.3 4.1 4.1 4.2 4.3 4.2
Note: Amounts may not foot due to rounding.
Page 12
Selective Insurance Group, Inc. & Consolidated Subsidiaries
CONSOLIDATED COMPOSITION OF INVESTED ASSETS
(Unaudited)
June 30, Mar. 31, Dec. 31, Sept. 30, June 30,
2026 2026 2025 2025 2025
($ in millions) Amount Percent Amount Percent Amount Percent Amount Percent Amount Percent
Fixed income securities, at fair value $ 9,929.3 86 % 9,748.6 86 9,481.1 84 9,299.7 84 8,901.1 84
Commercial mortgage loans, at fair value 267.4 2 268.3 2 274.9 2 269.1 2 266.2 3
Total fixed income investments 10,196.7 88 10,016.8 88 9,756.0 86 9,568.8 87 9,167.3 87
Short-term investments 378.9 3 451.8 4 648.5 6 587.9 5 531.4 5
Total fixed income and short-term investments 10,575.6 91 10,468.6 92 10,404.6 92 10,156.7 92 9,698.8 92
Equity securities, at fair value 413.1 4 388.3 3 384.4 3 380.1 3 318.1 3
Alternative investments 473.9 4 431.4 4 418.5 4 417.1 4 435.0 4
Other investments 111.4 1 96.9 1 92.2 1 93.3 1 96.0 1
Total investments $ 11,574.0 100 % 11,385.2 100 11,299.7 100 11,047.2 100 10,547.8 100
Fixed income investments, at carry value
U.S. government obligations $ 159.7 2 % 176.8 2 163.2 2 143.4 1 129.4 1
Foreign government obligations 16.2 — 8.8 — 10.0 — 10.0 — 10.5 —
Obligations of state and political subdivisions 542.7 5 565.1 6 550.0 6 561.0 6 458.7 5
Corporate securities 3,662.1 36 3,554.7 35 3,428.1 35 3,383.5 35 3,338.6 36
Collateralized loan obligations and other asset-backed securities 2,615.4 26 2,571.2 26 2,550.3 26 2,478.7 26 2,276.2 25
Residential mortgage-backed securities 2,284.7 22 2,168.9 22 2,075.9 21 1,998.9 21 1,943.6 21
Commercial mortgage-backed securities 649.2 6 703.6 7 703.6 7 724.1 8 744.2 8
Commercial mortgage loans 269.7 3 273.7 3 277.7 3 273.5 3 271.9 3
Total fixed income investments $ 10,199.6 100 % 10,022.8 100 9,758.8 100 9,573.1 100 9,173.1 100
Expected maturities of fixed income investments at carry value
Due in one year or less $ 601.0 6 % 587.9 6 646.0 7 603.5 6 587.8 6
Due after one year through five years 3,775.6 37 4,093.5 41 3,963.9 41 3,811.7 40 3,802.7 41
Due after five years through 10 years 4,160.1 41 3,835.4 38 3,932.9 40 3,959.3 41 3,712.8 40
Due after 10 years 1,662.8 16 1,506.0 15 1,216.0 12 1,198.6 13 1,069.8 12
Total fixed income investments $ 10,199.6 100 % 10,022.8 100 9,758.8 100 9,573.1 100 9,173.1 100
Weighted average credit quality of fixed income and short-term investments
Investment grade credit quality $ 10,220.8 97 % 10,105.6 97 10,047.3 97 9,809.6 97 9,351.7 96
Non-investment grade credit quality 354.8 3 363.0 3 357.2 3 347.1 3 347.1 4
Total fixed income and short-term investments, at fair value $ 10,575.6 100 % 10,468.6 100 10,404.6 100 10,156.7 100 9,698.8 100
Weighted average credit quality of fixed income and short-term investments A+ A+ A+ A+ A+
Alternative investments June 30, 2026
Current
Number of Original Remaining Market
Strategy Funds Commitment Commitment Value
Private equity 72 $ 535.1 196.1 383.8
Private credit 23 144.3 89.7 40.5
Real assets 13 102.8 46.0 49.6
Total 108 $ 782.2 331.7 473.9
Note: Amounts may not foot due to rounding.
Page 13
Selective Insurance Group, Inc. & Consolidated Subsidiaries
CREDIT QUALITY OF INVESTED ASSETS
(Unaudited)
At June 30, 2026 Credit Rating
($ in millions) Amortized Cost Fair
Value % of Invested Assets Yield to Worst Effective Duration in Years Average Life in Years AAA AA A BBB Non-Investment Grade Not Rated
Fixed income investments:
U.S. government obligations $ 176 $ 160 1.4 5.0 5.5 11.5 $ — $ 160 $ — $ — $ — $ —
Foreign government obligations 17 16 0.1 5.2 5.8 7.2 1 2 4 10 — —
State and municipal obligations 559 543 4.7 4.7 7.0 8.3 77 266 189 11 — —
Corporate securities 3,719 3,662 31.6 5.4 5.0 6.8 29 427 1,661 1,379 166 —
Mortgage-backed securities:
Residential mortgage-backed securities ("RMBS"):
Agency RMBS 1,770 1,716 14.8 5.1 5.8 7.8 — 1,715 — — — —
Non-agency RMBS 591 569 4.9 5.6 3.5 4.7 473 60 29 4 2 —
Total RMBS 2,362 2,285 19.7 5.3 5.2 7.0 473 1,776 29 4 2 —
Commercial mortgage-backed securities ("CMBS")
Agency CMBS 119 113 1.0 4.9 5.0 6.5 3 110 — — — —
Non-agency CMBS 544 536 4.6 5.4 2.5 3.4 456 56 18 — 6 —
Total CMBS 663 649 5.6 5.3 2.9 3.9 459 166 18 — 6 —
Total mortgage-backed securities 3,024 2,934 25.3 5.3 4.7 6.3 932 1,942 48 4 8 —
Collateralized loan obligations ("CLO") and other asset-backed securities ("ABS"):
CLOs 896 877 7.6 6.9 1.4 3.1 460 219 92 47 19 40
Commercial ABS 699 686 5.9 3.5 2.4 3.2 104 95 425 62 1 —
Consumer ABS 431 426 3.7 2.7 1.2 1.7 253 110 59 5 — —
Other ABS 631 626 5.4 0.3 0.2 0.3 5 53 319 146 44 59
Total CLOs and ABS 2,657 2,615 22.6 7.1 2.9 4.4 821 477 895 259 65 99
Total securitized assets 5,681 5,549 47.9 6.2 3.8 5.4 1,753 2,418 943 263 72 100
Commercial mortgage loans 273 267 2.3 5.9 2.6 3.5 — 21 108 121 17 —
Total fixed income investments 10,425 10,197 88.1 5.8 4.4 6.1 1,860 3,293 2,904 1,785 255 100
Short-term investments 379 379 3.3 3.6 0.0 0.0 379 — — — — —
Total fixed income and short-term investments 10,804 10,576 91.4 5.7 4.3 5.9 2,239 3,293 2,904 1,785 255 100
Total fixed income securities and short-term investments by credit rating percentage 21.2 % 31.1 % 27.5 % 16.9 % 2.4 % 0.9 %
Equity securities:
Common stock(1)
376 411 3.6 — — — — — — — — 411
Preferred stock 2 2 — — — — — — — 2 — —
Total equity securities 377 413 3.6 — — — — — — 2 — 411
Alternative investments
Private equity 384 384 3.3 — — — — — — — — 384
Private credit 40 40 0.3 — — — — — — — — 40
Real assets 50 50 0.4 — — — — — — — — 50
Total alternative investments 474 474 4.1 — — — — — — — — 474
Other investments 111 111 1.0 — — — — — — — — 111
Total invested assets $ 11,767 $ 11,574 100.0 % — — — $ 2,239 $ 3,293 $ 2,904 $ 1,786 $ 255 $ 1,096
(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 (LOSS) AVAILABLE TO COMMON STOCKHOLDERS TO NON-GAAP OPERATING INCOME (LOSS) AND CERTAIN OTHER NON-GAAP MEASURES
(Unaudited)
Quarter ended Year-to-date
June 30, Mar. 31, Dec. 31, Sept. 30, June 30, June 30, June 30,
($ in millions, except per share data) 2026 2026 2025 2025 2025 2026 2025
Reconciliation of net income (loss) available to common stockholders to non-GAAP operating income (loss)
Net income (loss) available to common stockholders
$ 127.1 95.4 152.9 113.0 83.6 222.5 191.2
Net realized and unrealized investment (gains) losses included in net income, before tax (12.0) 8.3 4.1 (8.1) (4.2) (3.7) (4.4)
Tax on reconciling items 2.5 (1.7) (0.8) 1.7 0.9 0.8 0.9
Non-GAAP operating income (loss)
$ 117.6 101.9 156.2 106.7 80.3 219.6 187.8
Reconciliation of net income (loss) available to common stockholders per diluted common share to non-GAAP operating income (loss) per diluted common share
Net income (loss) available to common stockholders per diluted common share
$ 2.11 1.58 2.52 1.85 1.36 3.69 3.12
Net realized and unrealized investment (gains) losses included in net income, before tax (0.20) 0.14 0.07 (0.13) (0.07) (0.06) (0.07)
Tax on reconciling items 0.04 (0.03) (0.02) 0.03 0.02 0.01 0.01
Non-GAAP operating income (loss) per diluted common share
$ 1.95 1.69 2.57 1.75 1.31 3.64 3.06
Reconciliation of ROE to non-GAAP operating ROE
ROE 14.8 % 11.2 18.3 14.0 10.7 13.0 12.5
Net realized and unrealized investment (gains) losses included in net income, before tax (1.4) 1.0 0.5 (1.0) (0.5) (0.2) (0.3)
Tax on reconciling items 0.3 (0.2) (0.1) 0.2 0.1 — 0.1
Non-GAAP operating ROE 13.7 % 12.0 18.7 13.2 10.3 12.8 12.3
Reconciliation of book value per common share to adjusted book value per common share
Book value per common share $ 58.13 56.58 56.74 54.46 52.09 58.13 52.09
Total unrealized investment (gains) losses included in accumulated other comprehensive income (loss), before tax
3.07 2.99 1.47 1.73 3.03 3.07 3.03
Tax on reconciling items (0.64) (0.63) (0.30) (0.36) (0.64) (0.64) (0.64)
Adjusted book value per common share $ 60.56 58.94 57.91 55.83 54.48 60.56 54.48
Non-GAAP operating income (loss), non-GAAP operating income (loss) per diluted common share, and non-GAAP operating return on common equity are measures comparable to net income (loss) available to common stockholders, net income (loss) available to common stockholders per diluted common share, and return on common equity, respectively, but excludes after-tax net realized and unrealized gains and losses on investments included in net income (loss). Adjusted book value per common share is a measure comparable to book value per common share, but excludes total after-tax unrealized gains and losses on investments included in accumulated other comprehensive income (loss). These non-GAAP measures are used as important financial measures by management, analysts, and investors because the timing of realized investment gains and losses on securities in any given period is largely discretionary. In addition, net realized and unrealized gains and losses on investments could distort the analysis of trends. These operating measurements are not intended as a substitute for net income (loss) available to common stockholders, net income (loss) available to common stockholders per diluted common share, return on common equity, and book value per common share prepared in accordance with U.S. generally accepted accounting principles (GAAP). Reconciliations of net income (loss) available to common stockholders, net income (loss) available to common stockholders per diluted common share, return on common equity, and book value per common share to non-GAAP operating income (loss), non-GAAP operating income (loss) per diluted common share, non-GAAP operating return on common equity, and adjusted book value per common share, respectively, are provided in the tables above.
Note: Amounts may not foot due to rounding.
Page 15
Selective Insurance Group, Inc. & Consolidated Subsidiaries
RATINGS AND CONTACT INFORMATION
Address: As of June 30, 2026
40 Wantage Avenue AM Best Standard & Poor's Moody's Fitch
Branchville, NJ 07890 Financial Strength Ratings: A+ A A2 A+
Preferred Stock Rating: n/a BB+ Ba1 BBB-
Corporate Website: Long-Term Debt Credit Rating: a- BBB Baa2 BBB+
www.Selective.com
Investor Contact: REGISTRAR AND TRANSFER AGENT
Brad B. Wilson EQ Shareowner Services
Senior Vice President P.O. Box 64854
Phone: 973-948-1283 St. Paul, MN 55164
Brad.Wilson@Selective.com 866-877-6351
Media Contact:
Jamie M. Beal
Vice President
Director of Communications
Phone: 973-948-1234
Jamie.Beal@Selective.com
Page 16
EX-99.3
EX-99.3
Filename: sigisecondquarter2026inv.htm · Sequence: 4
sigisecondquarter2026inv
Copyright © 2026 Selective Insurance Group, Inc. All rights reserved. Exhibit 99.3 SECOND QUARTER
SAFE HARBOR STATEMENT We make certain statements and reference other information in this presentation that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (“PSLRA”). The PSLRA provides a forward-looking statement safe harbor under the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements discuss our intentions, beliefs, projections, estimations, or forecasts of future events and financial performance. They involve uncertainties and known and unknown risks and other factors that may cause actual results, activity levels, or performance to materially differ from those in or implied by the forward- looking statements. We discuss factors that could cause our actual results to differ materially from those we project, forecast, or estimate in forward- looking statements in further detail in Selective’s public filings with the United States Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements – whether as a result of new information, future events or otherwise – other than as the federal securities laws may require. This presentation also includes certain non-GAAP financial measures within the meaning of Regulation G, including “non-GAAP operating earnings per share,” “non-GAAP operating income,” “non-GAAP operating return on equity,” and “adjusted book value per share.” Definitions of these non-GAAP measures and a reconciliation to the most comparable GAAP figures are available in our Annual Report on Form 10-K and our Supplemental Investor Package, both found on our website www.selective.com under “Investors/Reports & Earnings.” Our commentary references non-GAAP measures we and the investment community use to make it easier to evaluate our insurance business. These non-GAAP measures, however, may not be comparable to similarly titled measures used outside of the insurance industry. Investors are cautioned not to unduly rely on these non-GAAP measures in assessing our overall financial performance. 2
Every day, our interactions with our customers and distribution partners reinforce the importance of our role in rebuilding lives and businesses, making communities safer, and supporting economic expansion. 4
A+ (Superior) rating by AM Best ROE: 1H26: 13.0% 2025: 14.4% 5-Year average: 11.9% 10-year average: 11.5% 35th largest P&C carrier in the United States* $4.9B of net premiums written in 2025 Added 100 agency locations in 1H26 Expanding geographically with the goal of a near national footprint Combined Ratio: 1H26: 98.1% 2025: 97.2% 5-Year average: 96.9% 10-year average: 95.4% Standard Commercial Lines Segment comprises 79% of Net Premiums Written 5 A LEADER IN U.S. PROPERTY & CASUALTY INSURANCE *Based on 2025 net premiums written in AM Best’s annual list of “Top 200 U.S. Property/Casualty Writers” NASDAQ: SIGI (Common Stock) NASDAQ: SIGIP (Preferred) INVESTOR.RELATIONS@SELECTIVE.COM
Diversify revenue and income by leveraging our integrated product model to deliver better end-to-end customer experience and profitable growth in priority segments. Relentlessly improve on the fundamentals. Adopt and enhance practices that drive superior individual and portfolio-level outcomes in risk selection, loss prediction, pricing, and claims. Advance our use of data and technology (including AI) to transform raw information into actionable insights that drive better decisions and increase operational efficiency. Build a more connected, accountable, and empowered organization by developing talent and aligning on prioritized goals. 6 ORGANIZATIONAL PRIORITIES
7 DIFFERENTIATED OPERATING MODEL UNIQUE FIELD MODEL • Underwriting, claims, and risk management specialists placed alongside our customers and distribution partners • Proven ability to develop and integrate actionable tools • Enables effective portfolio management in balancing rate and retention FRANCHISE VALUE DISTRIBUTION MODEL WITH HIGH-QUALITY PARTNERS • Approximately 1,680 distribution partners selling our standard lines products and services at about 2,940 office locations* o ~730 of these distribution partners sell our personal lines products o ~80 wholesale agents sell our E&S business o ~6,520 distribution partners sell National Flood Insurance Program products across 50 states 2 0 2 5 N E T P R E M I U M S W R I T T E N $4.9 BILLION 13% Excess and Surplus Lines 8% Standard Personal Lines 79% Standard Commercial Lines *Figures as of year-end 2025
8 0% 5% 10% 15% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H 2026 SIGI Peer Avg. NON-GAAP OPERATING ROE* Note: Peer Average includes CINF, CNA, HIG, THG, TRV, and UFCS Note: 10-year avg based on 2016-2025 *Refer to “Safe Harbor Statement” on page 2 of this presentation for further detail regarding certain non-GAAP financial measures **Based on average equity OPERATING ROE* 2025 2024 Investments 13.3% 12.8% Underwriting 3.4% (3.7)% Other (2.5)% (2.0)% Total 14.2% 7.1% Generating ROEs exceeding our cost of capital and peer group average over time 100 basis points of combined ratio translates to ~110 basis points of ROE** 100 basis points of pre-tax investment yield translates to ~270 basis points of ROE** SIGI 10-YEAR AVERAGE: 12.1% Peer 10-Year Average: 9.2% 12.8%
9 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 94%96%98%100%102%104%106% 1 0 - Y E A R N P W C A G R 1 0 - Y E A R A V E R A G E C O M B I N E D R A T I O 90% 95% 100% 105% 0 1 2 3 4 5 6 7 1 0 - Y E A R A V E R A G E C O M B I N E D R A T I O 1 0 - Y E A R S T A N D A R D D E V I A T I O N O F C O M B I N E D R A T I O N P W C A G R V S . A V E R A G E C O M B I N E D R A T I O Note: White dots represent P&C peers: CINF, CNA, HIG, THG, TRV, and UFCS; 10-year avg based on 2016-2025 Industry Source: © 2025 Conning, Inc. Used with permission. [Statutory data] CAGR = Compound Annual Growth Rate C O M B I N E D R A T I O ( A V E R A G E & V O L A T I L I T Y ) SUSTAINED TRACK RECORD OF PROFITABILITY SIGI Industry Industry SIGI
10 92.2% 98.1% 85% 90% 95% 100% 105% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H26 $0B $1B $2B $3B $4B $5B 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 N P W $4.9M With current market share of ~1.5% in Commercial Lines, Selective has meaningful runway to deliver above-industry growth TRACK RECORD OF DISCIPLINED, PROFITABLE GROWTH 8.9% CAGR* *Compound annual growth rate **Underlying GAAP combined ratio excludes catastrophe losses and prior year casualty reserve development N E T P R E M I U M S W R I T T E N C O M B I N E D R A T I O Underlying Combined Ratio** Reported GAAP Combined Ratio
11 PATH FOR PROFITABLE GROWTH ADVANCING DIVERSIFICATION THROUGH GEOGRAPHIC AND E&S EXPANSION, ALONG WITH PERSONAL LINES MASS AFFLUENT STRATEGY STANDARD COMMERCIAL LINES FOOTPRINT: Expansion States since 2017 Targeting 3% market share in existing footprint over the long-term • Targeting 12% share of wallet with existing distribution partners • Targeting 25% agent market share in existing markets Disciplined approach to geographic expansion • Added sixteen states to our Standard Commercial Lines footprint since 2017 • Goal of operating our Standard Commercial Lines business with a near national footprint; operating model will vary by market 100 new agency appointments in the first half of 2026 • Focused on growing with existing partners and strategically appointing new agency location in our existing footprint STANDARD COMMERCIAL LINES Transition to mass affluent well underway Better aligns our organizational capabilities with a market where we believe we can succeed over the long term STANDARD PERSONAL LINES Opportunistic, profitable growth strategy Expansion of capabilities and products EXCESS & SURPLUS LINES Core Footprint prior to 2017
2026 GUIDANCE* GAAP COMBINED RATIO: 96.5% to 97.5% • 6 points of catastrophe losses • Assumes no prior year casualty reserve development AFTER-TAX NET INVESTMENT INCOME: $480M OVERALL EFFECTIVE TAX RATE: 21.5% WEIGHTED AVERAGE DILUTED SHARES: 60.2M *as of July 23, 2026 12
14 STANDARD COMMERCIAL LINES 79% OF 2025 NET PREMIUMS WRITTEN (NPW) • Account-based approach with granular data and sophisticated tools to support underwriting decisions • Focus on maintaining underwriting discipline and achieving price adequacy • Targeting renewal pure price increases and mix improvement to drive margin improvement • Underwriting refinements focused on underperforming areas 38 STATE & DC FOOTPRINT CLIPS: Willis Towers Watson Commercial Lines Insurance Pricing Survey; 1H26 pricing is as of 1Q26 6.8% 2.5% 76% 80% 84% 88% 0% 4% 8% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H26 R E T E N T I O N P R I C I N G Retention Renewal Pure Price CLIPS Pricing 99.7% 94.2% 85% 95% 105% $0B $2B $4B $6B 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H 2026 NPW GAAP Combined Ratio Underlying Combined Ratio N P W C O M B I N E D R A T I O
15 PORTFOLIO APPROACH DRIVES BUSINESS MIX IMPROVEMENT PORTFOLIO MANAGEMENT APPROACH YIELDS HIGHER RETENTION AND RATE ACCOUNT-SPECIFIC PRICING, INCLUDING: • Predictive modeling • Relative loss frequency and severity • Pricing deviation • Hazard and segment considerations 2025 DPW MIX 1% Bonds 26% Mercantile & Services 43% Contractors 14% Manufacturing & Wholesale 16% Community & Public Services 2 Q 2 6 v s 2 Q 2 5 C O M M E R C I A L L I N E S P R I C I N G B Y R E T E N T I O N G R O U P R e t e n t i o n ( L i n e s ) a n d R e n e w a l P u r e P r i c e ( B a r s ) 50% 60% 70% 80% 90% 0% 4% 8% 12% 16% 20% Excellent Above Average Average Below Average Low & Very Low R E N E W A L P U R E P R I C E P O I N T O F R E N E W A L R E T E N T I O N RETENTION RATE % of 2Q26 Premium 22% 24% 29% 15% 11%
16 EXCESS & SURPLUS LINES 13% OF 2025 NET PREMIUMS WRITTEN • Profitable and growing portfolio of commercial risks • Small and middle market focus with $6,000 average premium per policyholder • Modernized technology platform • ~80 wholesale general agents with limited binding authority within prescribed underwriting and pricing guidelines 50 STATE & DC FOOTPRINT 3.6% 0% 3% 5% 8% 10% 2018 2019 2020 2021 2022 2023 2024 2025 1H 2026 R E N E W A L P U R E P R I C E 90.7% 86.5% 70% 80% 90% 100% 110% 120% $0M $100M $200M $300M $400M $500M $600M 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H 2026 NPW GAAP Combined Ratio Underlying Combined Ratio N P W C O M B I N E D R A T I O
17 STANDARD PERSONAL LINES 8% OF 2025 NET PREMIUMS WRITTEN • Strategic shift to mass affluent target market well underway • Strong existing product set and servicing capabilities • Profitability improvement driven by pricing and tighter terms and conditions • Expected future growth in states where pricing aligns with profitability objectives 15 STATE FOOTPRINT 9.6% 0% 5% 10% 15% 20% 25% 2021 2022 2023 2024 2025 1H 2026 R E N E W A L P U R E P R I C E 94.1% 81.4% 70% 80% 90% 100% 110% 120% $0M $100M $200M $300M $400M $500M 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H 2026 NPW GAAP Combined Ratio Underlying Combined Ratio N P W C O M B I N E D R A T I O
18 CONSERVATIVE INVESTMENT PORTFOLIO LONG-TERM INVESTMENT APPROACH SUPPORTING BALANCE SHEET STRENGTH • Disciplined, insurance-aligned portfolio designed to generate durable income, protect capital, and deliver attractive long-term returns • High credit quality, well-diversified portfolio constructed to perform across market cycles • 91% allocation to fixed income and short-term as of 6/30/26: o 97% rated investment grade o 4.3-year effective duration o A+ average credit rating • Growth in invested assets driven by profitable insurance operations and strong operating cash flows INVESTMENT PORTFOLIO, 6/30/26 $11.6 B 4.1% 0% 1% 2% 3% 4% $4B $6B $8B $10B $12B 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H 2026 Invested Assets After-Tax Portfolio Yield 13.6% 0% 3% 6% 9% 12% $0M $100M $200M $300M $400M 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H 2026 After-Tax NII NII ROE I N V E S T E D A S S E T S A F T E R - T A X P O R T F O L I O Y I E L D A F T E R - T A X N E T I N V E S T M E N T I N C O M E O P E R A T I N G R E T U R N O N E Q U I T Y 4% Equities 5% Alts & Other 3% Short-Term 88% Fixed Income
20 Industry Source: © 2026 AM Best. Used with permission. ENTERPRISE RISK MANAGEMENT STRONG BALANCE SHEET AND UNDERWRITING CONTROLS WITH PRUDENT RESERVING PRACTICES CATASTROPHE LOSS MITIGATION INITIATIVES INCLUDE: • Exposure management, including strict coastal guidelines • Focus on geographic diversification and growth that minimizes peak peril aggregations • Prudent reinsurance program 1-IN-250 PROBABLE MAXIMUM LOSS* AS A % OF GAAP EQUITY I M P A C T O F C A T A S T R O P H E L O S S E S O N C O M B I N E D R A T I O 3.5 7.6 0 2 4 6 8 10 C O M B I N E D R A T I O P O I N T S SIGI Industry Average 7% 4% 5% 0% 10% 2023 2024 2025 *Single event hurricane losses are net of reinsurance, after tax, and reinstatement premiums as of 1/1/26; GAAP equity as of 12/31/25 A V E R A G E P R E M I U M P E R P O L I C Y H O L D E R STANDARD COMMERCIAL EXCESS & SURPLUS PERSONAL LINES $20.6K $6.0K $4.1K
21 PRUDENT REINSURANCE STRUCTURE 2026 PROPERTY CATASTROPHE TREATY HIGHLIGHTS: • $1.5B exhaustion point and $100M retention • Top layer of $700M x $800M is 71% collateralized • 1-in-250 PML = 5% of GAAP equity PROPERTY EXCESS OF LOSS TREATY COVERS LOSSES UP TO $115M IN EXCESS OF $5M RETENTION ON A PER RISK BASIS CASUALTY EXCESS OF LOSS TREATY COVERS LOSSES UP TO $87M IN EXCESS OF $3M RETENTION ON A PER OCCURRENCE BASIS 2 0 2 6 P R O P E R T Y C A T A S T R O P H E P R O G R A M $700M IN EXCESS OF $800M 46% covered through Catastrophe Bond (3-year risk period ending December 2026) 93% Placed $400M IN EXCESS OF $400M 100% Placed $200M IN EXCESS OF $200M 100% Placed $100M IN EXCESS OF $100M 100% Placed RETENTION: $100M
DISCIPLINED FINANCIAL PLANNING & RESERVING PRACTICES QUARTERLY RESERVE REVIEW Strong reserve discipline facilitated by in-depth quarterly reserve reviews, semi-annual independent reviews, and independent year- end opinion DETAILED PLANNING PROCESS Detailed ground up premium, expense, and loss planning, with monthly forecasts SPECIFIC UNDERWRITING & PRICING ACTIONS Rate analyses, predictive modeling, and policy level guidance facilitate specific pricing and underwriting actions RIGOROUS RESULTS MONITORING Extensive pricing, underwriting, and claims results monitoring provides on-going feedback 22
23 OTHER LIABILITY OCCURRENCE ACCIDENT YEAR NET LOSS & DCC* RATIO (STATUTORY) 71.7% 45% 50% 55% 60% 65% 70% 75% 80% 85% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 *DCC = Defense & Cost Containment **Data sourced from Schedule P Initial: initial loss ratio booked for each accident year** @ 36 Months: loss ratio at third year-end evaluation** YE-25: loss ratio as of year-end 2025** S E L E C T I V E P & C I N D U S T R Y 67.6% 45% 50% 55% 60% 65% 70% 75% 80% 85% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 For more mature accident years, Selective’s booked loss ratio at 36 months is similar to the loss ratio at the most recent report (year-end 2025). For the industry, there has been a more meaningful amount of unfavorable development after 36 months. We believe this points to the quality of our reserving process. Based on preliminary Schedule P information
24 COMMERCIAL AUTO LIABILITY ACCIDENT YEAR NET LOSS & DCC* RATIO (STATUTORY) 74.6% 45% 50% 55% 60% 65% 70% 75% 80% 85% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 *DCC = Defense & Cost Containment **Data sourced from Schedule P Initial: initial loss ratio booked for each accident year** @ 36 Months: loss ratio at third year-end evaluation** YE-25: loss ratio as of year-end 2025** S E L E C T I V E P & C I N D U S T R Y 73.6% 45% 50% 55% 60% 65% 70% 75% 80% 85% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Similar to Other Liability Occurrence, Commercial Auto liability loss ratios in more mature accident years at 36 months are closer to the loss ratio at the most recent report (year-end 2025) for Selective versus the industry. Based on preliminary Schedule P information
25 WORKERS COMPENSATION ACCIDENT YEAR NET LOSS & DCC* RATIO (STATUTORY) 66.1% 45% 50% 55% 60% 65% 70% 75% 80% 85% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 *DCC = Defense & Cost Containment **Data sourced from Schedule P Initial: initial loss ratio booked for each accident year** @ 36 Months: loss ratio at third year-end evaluation** YE-25: loss ratio as of year-end 2025** S E L E C T I V E P & C I N D U S T R Y 71.3% 45% 50% 55% 60% 65% 70% 75% 80% 85% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 For Workers Compensation, both Selective and Industry have reported favorable development within the first 36 months of an accident year, with additional favorable development after 36 months. Based on preliminary Schedule P information
Operating cash flow of $450M in 1H26, compared to $1.2B in 2025 Issued $400M of Senior Notes in February 2025 NPW-to-Surplus ratio of 1.30x as of 6/30/26 We believe investing in profitable, organic growth is the most attractive long-term capital deployment opportunity Target 20-25% dividend payout ratio over time Quarterly dividend increased 13%, to $0.43 per common share, in 4Q 2025 Board approved a $200M share repurchase authorization in 2025 Repurchased $86M of common stock in 2025 and $62M in 1H26 $108M of remaining authorization at 6/30/26 26 STRONG CAPITAL POSITION AM BEST: A+ FITCH: A+ S&P: A MOODY’S: A2 FINANCIAL STRENGTH RATINGS
27 31.0% 28% 29% 30% 31% 32% 33% 34% 35% 36% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H 2026 G A A P E X P E N S E R A T I O BALANCING EXPENSE DISCIPLINE WITH STRATEGIC INVESTMENTS STRATEGIC INVESTMENTS INCLUDE: • Small Business and E&S platforms • Claim system modernization • Geographic expansion • Customer experience AREAS FOR OPERATIONAL ENHANCEMENTS INCLUDE: • Further leveraging our use of data, analytics, and technology, including artificial intelligence • AI claims tools • Automation of Contractual Risk Transfers
28 FOCUS ON ROE* AND GROWTH IN BOOK VALUE PER SHARE $58.13 $0 $10 $20 $30 $40 $50 $60 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 6/30/2026 B O O K V A L U E P E R S H A R E GENERATING NON-GAAP OPERATING ROE* IN LINE WITH OUR LONG-TERM TARGET SUPERIOR GROWTH IN BOOK VALUE PER SHARE EXPECT HIGHER TOTAL SHAREHOLDER RETURNS OVER TIME *Refer to “Safe Harbor Statement” on page 2 of this presentation for further detail regarding certain non-GAAP financial measures
Help our customers put their lives and businesses back together after experiencing a covered loss Help make our customers and communities safer Support economic growth by providing capital that protects against covered losses and allows businesses to invest confidently in their operations “A” rating from MSCI Solar facility generated approximately 3.3M kWh of energy in 2025 that we sell to others Continue sharing our approach to climate-related risks and opportunities through the publication of our Task Force on Climate- related Financial Disclosures 30 OUR APPROACH TO SUSTAINABILITY SUSTAINABILITY INITIATIVES ARE EMBEDDED INTO SELECTIVE’S BUSINESS. WE AIM TO DELIVER SIGNIFICANT VALUE OVER TIME TO OUR CUSTOMERS, DISTRIBUTION PARTNERS, EMPLOYEES, AND SHAREHOLDERS. OUR PRIMARY OBJECTIVES ARE TO: KEY SUSTAINABILITY ACCOMPLISHMENTS:
Copyright © 2026 Selective Insurance Group, Inc. All rights reserved. Exhibit 99.3 SECOND QUARTER
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Jul. 23, 2026
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Entity File Number
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SELECTIVE INSURANCE GROUP, INC.
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22-2168890
Entity Incorporation, State or Country Code
NJ
Entity Address, Address Line One
40 Wantage Avenue
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Document Information [Line Items]
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Trading Symbol
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Depositary Shares
Document Information [Line Items]
Title of 12(b) Security
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Name of the City or Town
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Code for the postal or zip code
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Name of the state or province.
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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Exchange Act
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Indicate if registrant meets the emerging growth company criteria.
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Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
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Two-character EDGAR code representing the state or country of incorporation.
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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
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Local phone number for entity.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
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Title of a 12(b) registered security.
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Name of the Exchange on which a security is registered.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
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Trading symbol of an instrument as listed on an exchange.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
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