SELECTIVE INSURANCE GROUP INC

Listed Company

SIGIPCIK 0000230557NasdaqLarge AcceleratedFire, Marine & Casualty InsuranceNew JerseyFY ends Dec 31

Period

FY 2025

Revenue

$5.34B

Net Income

$466.41M

Total Assets

$15.16B

Equity

$3.61B

Shares Out

59.87M

Op. Cash Flow

$1.23B

Business

SELECTIVE INSURANCE GROUP INC is an insurance holding company that underwrites property and casualty insurance through its insurance subsidiaries in the United States. It offers casualty and property insurance products and services, including commercial and personal lines, excess and surplus (E&S) coverage, flood through the NFIP program, risk management services, and an investments portfolio. Its operations are organized into four reportable segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It sells products primarily through independent retail agents and wholesale brokers, with personal flood coverage written nationwide.

Summary from filing dated 2025-02-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net premiums earned	4,768	4,376	3,828	3,373	—
Net investment income earned	531	457	389	288	327
Net realized and unrealized investment gains (losses)	8	−3	−4	−115	18
Other income	29	31	19	11	18
Total revenues	5,337	4,862	4,232	3,558	3,379
Loss and loss expense incurred	3,158	3,164	2,484	2,112	—
Amortization of deferred policy acquisition costs	1,002	922	796	706	626
Other insurance expenses	501	453	434	400	376
Interest expense	49	29	29	29	29
Corporate expenses	36	35	31	31	28
Total expenses	4,747	4,604	3,774	3,278	2,874
Income before income tax	590	258	458	280	505
Current	137	67	94	—	—
Deferred	−13	−16	−848,000	−23	14
Total income tax expense	123	51	93	55	101
Net income	466	207	365	225	404
Preferred stock dividends	9	9	9	9	9
Net income available to common stockholders	457	198	356	216	394
Net income available to common stockholders	457	198	356	216	—
Net income available to common stockholders - Basic (in dollars per share)	7.54	3.25	5.87	3.57	6.55
Net income available to common stockholders - Diluted (in dollars per share)	7.49	3.23	5.84	3.54	6.5

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Fixed income securities, held-to-maturity at carrying value (fair value: $23,939 2025; $24,735 2024)	24	25	23	31	29
Less: allowance for credit losses	0	0	0	0	−65,000
Fixed income securities, held-to-maturity, net of allowance for credit losses	24	25	23	31	29
Fixed income securities, available-for-sale at fair value (allowance for credit losses: $31,287 2025; $31,948 2024; amortized cost: $9,576,878 2025; $8,476,078 2024)	9,457	8,127	7,499	6,612	6,710
Commercial mortgage loans at carrying value (fair value: $274,895 2025; $224,842 2024)	278	234	189	149	—
Less: allowance for credit losses	−213,000	−66,000	−291,000	−116,000	0
Commercial mortgage loans, net of allowance for credit losses	278	234	188	149	96
Equity securities at fair value (cost: $370,104 2025; $211,486 2024)	384	214	187	162	336
Short-term investments	649	509	309	440	448
Alternative investments	419	441	396	371	360
Other investments	92	101	91	71	49
Total investments (Notes 5 and 7)	11,302	9,651	8,694	7,837	8,027
Cash	346,000	91,000	180,000	26,000	455,000
Restricted cash	18	63	13	—	—
Accrued investment income	92	77	66	59	48
Premiums receivable	1,555	1,488	1,332	1,102	959
Less: allowance for credit losses (Note 8)	−21	−20	−19	−16	−14
Premiums receivable, net of allowance for credit losses	1,534	1,468	1,313	1,086	945
Reinsurance recoverable	917	1,063	659	784	602
Less: allowance for credit losses (Note 9)	−2	−2	−2	−2	−2
Reinsurance recoverable, net of allowance for credit losses	915	1,061	657	783	600
Prepaid reinsurance premiums (Note 9)	266	235	203	172	183
Deferred federal income tax (Note 14)	111	147	140	173	0
Property and equipment at cost, net of accumulated depreciation and amortization of: $297,211 2025; $287,685 2024	106	93	83	84	82
Deferred policy acquisition costs (Note 2)	492	479	425	369	327
Goodwill (Note 12)	8	8	8	8	8
Other assets	310	231	200	202	195
Total assets	15,156	13,514	11,803	10,802	10,461
Reserve for loss and loss expense (Note 10)	7,225	6,590	5,337	5,145	4,581
Unearned premiums	2,746	2,616	2,331	1,993	1,803
Long-term debt (Note 11)	902	508	504	—	—
Current federal income tax (Note 14)	17	20	6	—	—
Accrued salaries and benefits	141	122	122	—	—
Other liabilities	516	539	548	517	454
Total liabilities	11,547	10,394	8,848	8,275	7,479
Preferred stock of $0 par value per share (Note 17): Authorized shares: 5,000,000; Issued shares: 8,000 with $25,000 liquidation preference per share 2025 and 2024	200	200	200	200	200
Common stock of $2 par value per share: Authorized shares 360,000,000 Issued: 106,006,544 2025; 105,609,364 2024	212	211	210	210	209
Additional paid-in capital	591	557	523	493	464
Retained earnings	3,501	3,139	3,029	2,750	2,603
Accumulated other comprehensive income (loss) (Note 6)	−152	−337	−373	−498	115
Treasury stock at cost (shares: 45,930,091 2025; 44,761,468 2024)	−743	−651	−635	−627	−609
Total stockholders equity	3,609	3,120	2,954	2,528	2,983
Commitments and contingencies (Notes 19 and 20)	—	—	—	—	—
Total liabilities and stockholders equity	15,156	13,514	11,803	10,802	10,461

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	33	35	30	42	55
Stock-based compensation expense	23	23	18	18	16
Undistributed gains of equity method investments	−13	−18	−17	−13	−70
Distributions in excess of current year income of equity method investments	17	17	16	43	3
Loss (gain) on disposal of fixed assets	−69,000	334,000	−6,000	172,000	50,000
Increase in reserve for loss and loss expense, net of reinsurance recoverable	781	849	318	381	308
Increase in unearned premiums, net of prepaid reinsurance	98	254	307	200	172
(Increase) decrease in net federal income taxes	−16	−3	9	−26	−542,000
Increase in premiums receivable	−66	−155	−227	−141	−109
Increase in deferred policy acquisition costs	−13	−54	−56	−42	−38
Increase in accrued investment income	−15	−11	−7	−11	−3
Increase (decrease) in accrued salaries and benefits	19	588,000	6	−3	7
Increase in other assets	−87	−34	−23	−38	−33
Increase (decrease) in other liabilities	15	−13	16	50	78
Net cash provided by (used in) operating activities	1,233	1,100	759	802	771
Purchases of fixed income securities, held-to-maturity	−2	−7	0	−7	−16
Purchases of fixed income securities, available-for-sale	−3,253	−2,492	−2,439	−2,649	−2,166
Purchases of commercial mortgage loans	−75	−57	−42	−64	−50
Purchases of equity securities	−161	−46	−24	−27	−89
Purchases of alternative investments and other investments	−110	−92	−98	−73	−85
Purchases of short-term investments	−13,379	−9,803	−4,480	−4,507	−4,345
Sales of fixed income securities, available-for-sale	920	917	1,222	1,212	503
Proceeds from commercial mortgage loans	28	12	3	10	714,000
Sales of short-term investments	13,240	9,603	4,611	4,514	4,307
Redemption and maturities of fixed income securities, held-to-maturity	4	4	8	4	4
Redemption and maturities of fixed income securities, available-for-sale	1,236	997	509	669	1,218
Sales of equity securities	21	19	53	186	99
Sales of other investments	45	0	900,000	3	5
Distributions from alternative investments and other investments	39	27	11	19	17
Purchases of property and equipment	−39	−31	−23	−26	−22
Net cash provided by (used in) investing activities	−1,486	−947	−686	−734	−619
Dividends to preferred stockholders	−9	−9	−9	−9	−9
Dividends to common stockholders	−93	−85	−74	−67	−60
Acquisition of treasury stock	−93	−16	−8	−18	−9
Net proceeds from stock purchase and compensation plans	9	10	9	9	8
Proceeds from borrowings	396	0	20	60	0
Repayment of borrowings	−100,000	0	−20	−60	−50
Repayment of finance lease obligations	−3	−3	−3	−2	−2
Net cash provided by (used in) financing activities	207	−103	−84	−88	−123
Net increase (decrease) in cash and restricted cash	−45	50	−12	−20	30

Filings

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