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Midas Edge

SELECTIVE INSURANCE GROUP INC

For the period ended Dec 31, 2023. Filed Feb 9, 2024.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 9, 2024

SIGI$103.34+2.8%Stored close · as of Nov 10, 2026

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Contents

Item 15. Exhibit and Financial Statement Schedules

(a) The following documents are filed as part of this report:

(1) Financial Statements:

The Financial Statements listed below are included in Item 8. "Financial Statements and Supplementary Data."

Page
Consolidated Balance Sheets as of December 31, 2023 and 202278
Consolidated Statements of Income for the Years Ended December 31, 2023, 2022, and 202179
Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2023, 2022, and 202180
Consolidated Statements of Stockholders' Equity for the Years Ended December 31, 2023, 2022, and 202181
Consolidated Statements of Cash Flows for the Years Ended December 31, 2023, 2022, and 202182
Notes to Consolidated Financial Statements, December 31, 2023, 2022, and 202183

(2) Financial Statement Schedules:

The financial statement schedules, with Independent Auditors' Report thereon, required to be filed are listed below by page number as filed in this report. All other schedules are omitted as the information required is inapplicable, immaterial, or the information is presented in the Financial Statements or related notes.

Page
Schedule ISummary of Investments – Other than Investments in Related Parties at December 31, 2023140
Schedule IICondensed Financial Information of Registrant at December 31, 2023, 2022, and 2021 and for the Years Ended December 31, 2023, 2022, and 2021141
Schedule IIISupplementary Insurance Information for the Years Ended December 31, 2023, 2022, and 2021144
Schedule IVReinsurance for the Years Ended December 31, 2023, 2022, and 2021145
Schedule VAllowance for Credit Losses on Premiums and Other Receivables for the Years Ended December 31, 2023, 2022, and 2021145

(3) Exhibits:

The exhibits required by Item 601 of Regulation S-K are listed in the Exhibit Index, which is incorporated by reference and immediately precedes the exhibits filed with or incorporated by reference in this Form 10-K.

SCHEDULE I

SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES

December 31, 2023

Types of investment
($ in thousands) · Amortized Cost or Cost · Fair Value · Carrying Amount
Fixed income securities:
Held-to-maturity:
All other corporate securities$22,70021,92322,700
Total fixed income securities, held-to-maturity22,70021,92322,700
Available-for-sale:
U.S. government and government agencies223,157205,035205,035
Foreign government11,1409,8039,803
Obligations of states and political subdivisions612,938585,965585,965
Public utilities150,064142,425142,425
All other corporate securities2,683,9842,568,8142,568,814
Collateralized loan obligation securities and other asset-backed securities1,911,8311,834,8271,834,827
Residential mortgage-backed securities1,568,9601,477,4831,477,483
Commercial mortgage-backed securities718,623674,845674,845
Total fixed income securities, available-for-sale7,880,6977,499,1977,499,197
Equity securities:
Common stock:
Banks, trusts and insurance companies33,22432,72532,725
Industrial, miscellaneous and all other147,892152,614152,614
Nonredeemable preferred stock1,9601,8161,816
Total equity securities183,076187,155187,155
Commercial mortgage loans188,708188,417
Short-term investments309,300309,317
Alternative investments395,779395,779
Other investments91,16491,164
Total investments$9,071,4248,693,729

See accompanying Report of Independent Registered Public Accounting Firm in Item 8. "Financial Statements and Supplementary Data." of this Form 10-K

SCHEDULE II

Balance Sheets

December 31,
($ in thousands, except share amounts)20232022
Assets:
Fixed income securities, available-for-sale – at fair value (allowance for credit losses: $426 – 2023; $1,194 – 2022; amortized cost: $443,261 – 2023; $418,588 – 2022$421,089387,535
Equity securities50,92048,095
Short-term investments17,67133,008
Alternative investments18,13415,631
Cash18026
Investment in subsidiaries2,958,7462,524,448
Current federal income tax9,0068,894
Deferred federal income tax11,12814,733
Other assets10,10111,104
Total assets$3,496,9753,043,474
Liabilities:
Long-term debt$441,310440,958
Intercompany notes payable81,46556,266
Accrued long-term stock compensation10,52211,101
Other liabilities9,2977,585
Total liabilities$542,594515,910
Stockholders’ Equity:
Preferred stock of $0 par value per share:
Authorized shares: 5,000,000; Issued shares: 8,000 with $25,000 liquidation preference per share – 2023 and 2022$200,000200,000
Common stock of $2 par value per share:
Issued: 105,223,307 – 2023; 104,847,111 – 2022210,447209,694
Additional paid-in capital522,748493,488
Retained earnings3,029,3962,749,703
Accumulated other comprehensive income (loss)(373,001)(498,042)
Treasury stock – at cost (shares: 44,586,870 – 2023; 44,508,211 – 2022)(635,209)(627,279)
Total stockholders’ equity2,954,3812,527,564
Total liabilities and stockholders’ equity$3,496,9753,043,474

See accompanying Report of Independent Registered Public Accounting Firm. Information should be read in conjunction with the Notes to Consolidated Financial Statements of Selective Insurance Group, Inc. and its subsidiaries. Both items are in Item 8. “Financial Statements and Supplementary Data.” of this Form 10-K.

SCHEDULE II (continued)

Statements of Income

Year ended December 31,
($ in thousands)202320222021
Revenues:
Dividends from subsidiaries$80,005120,007140,018
Net investment income earned20,16718,62215,454
Net realized and unrealized investment gains (losses)996(17,855)1,898
Total revenues101,168120,774157,370
Expenses:
Interest expense29,82428,89728,988
Other expenses30,68631,11628,305
Total expenses60,51060,01357,293
Income before federal income tax40,65860,761100,077
Federal income tax (benefit) expense:
Current(9,618)(9,381)(6,552)
Deferred1,650(2,189)12
Total federal income tax benefit(7,968)(11,570)(6,540)
Net income before equity in undistributed income of subsidiaries48,62672,331106,617
Equity in undistributed income of subsidiaries, net of tax316,612152,555297,220
Net income$365,238224,886403,837
Preferred stock dividends9,2009,2009,353
Net income available to common stockholders$356,038215,686394,484

See accompanying Report of Independent Registered Public Accounting Firm. Information should be read in conjunction with the Notes to Consolidated Financial Statements of Selective Insurance Group, Inc. and its subsidiaries. Both items are in Item 8. “Financial Statements and Supplementary Data.” of this Form 10-K.

SCHEDULE II (continued)

Statements of Cash Flows

Year ended December 31,
($ in thousands)202320222021
Operating Activities:
Net income$365,238224,886403,837
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed income of subsidiaries, net of tax(316,612)(152,555)(297,220)
Stock-based compensation expense18,34618,42815,893
Net realized and unrealized investment (gains) losses(996)17,855(1,898)
Undistributed gains of equity method investments(279)(2,240)(1,859)
Disbursements in excess of current year income of equity method investments766——
Amortization – other(1,020)(154)1,076
Changes in assets and liabilities:
Increase (decrease) in accrued long-term stock compensation(579)1362,727
(Increase) decrease in net federal income taxes1,538(3,875)3,843
(Increase) decrease in other assets963(1,961)(7,251)
Increase (decrease) in other liabilities1,375(2,813)(1,742)
Net cash provided by (used in) operating activities68,74097,707117,406
Investing Activities:
Purchases of fixed income securities, available-for-sale(72,328)(208,512)(113,829)
Purchases of equity securities(743)(1,647)(5,676)
Purchases of short-term investments(233,129)(362,213)(330,843)
Purchases of alternative investments(53,262)(4,149)(4,949)
Redemption and maturities of fixed income securities, available-for-sale29,61935,52751,524
Sales of fixed income securities, available-for-sale20,31466,72515,713
Sales of equity securities48,96077,97131,204
Sales of short-term investments248,588385,254311,225
Proceeds from alternative investments20—959
Net cash provided by (used in) investing activities(11,961)(11,044)(44,672)
Financing Activities:
Dividends to preferred stockholders(9,200)(9,200)(9,353)
Dividends to common stockholders(73,827)(66,920)(60,136)
Acquisition of treasury stock(7,930)(18,344)(9,050)
Net proceeds from stock purchase and compensation plans9,1339,0867,976
Preferred stock issued, net of issuance costs——(479)
Proceeds from borrowings from subsidiaries27,000——
Principal payment on borrowings from subsidiaries(1,801)(1,714)(1,631)
Net cash provided by (used in) financing activities(56,625)(87,092)(72,673)
Net increase (decrease) in cash154(429)61
Cash, beginning of year26455394
Cash, end of year$18026455

See accompanying Report of Independent Registered Public Accounting Firm. Information should be read in conjunction with the Notes to Consolidated Financial Statements of Selective Insurance Group, Inc. and its subsidiaries. Both items are in Item 8. “Financial Statements and Supplementary Data.” of this Form 10-K.

SCHEDULE III

SUPPLEMENTARY INSURANCE INFORMATION

Year ended December 31, 2023

($ in thousands)Deferredpolicyacquisition costsReservefor lossand loss expenseUnearned premiumsNetpremiums earnedNetinvestment income1Lossand lossexpense incurredAmortizationof deferredpolicyacquisition costsOtheroperating expenses2Netpremiums written
Standard Commercial Lines Segment$350,1984,494,9651,722,7063,071,784—1,919,204674,374320,9003,281,319
Standard Personal Lines Segment24,759278,152399,157365,213—353,18536,00155,290414,585
E&S Lines Segment49,907563,794208,793390,609—211,89685,80738,150438,628
Investments Segment————385,098————
Total$424,8645,336,9112,330,6563,827,606385,0982,484,285796,182414,3404,134,532

2“Other operating expenses” of $414,340 reconciles to the Consolidated Statements of Income as follows:

Other insurance expenses$433,742
Other income(19,402)
Total$414,340

Year ended December 31, 2022

($ in thousands)Deferredpolicyacquisition costsReservefor lossand loss expenseUnearned premiumsNetpremiums earnedNetinvestment income1Lossand lossexpense incurredAmortizationof deferredpolicyacquisition costsOtheroperating expenses2Netpremiums written
Standard Commercial Lines Segment$311,5354,275,0021,511,4472,739,819—1,683,988605,845306,2902,901,984
Standard Personal Lines Segment17,817340,302322,668299,405—231,11327,12948,356319,059
E&S Lines Segment39,272529,517158,666334,156—196,67772,84834,332352,547
Investments Segment————173,347————
Total$368,6245,144,8211,992,7813,373,380173,3472,111,778705,822388,9783,573,590

2“Other operating expenses” of $388,978 reconciles to the Consolidated Statements of Income as follows:

Other insurance expenses$400,313
Other income(11,335)
Total$388,978

Year ended December 31, 2021

($ in thousands)Deferredpolicyacquisition costsReservefor loss and loss expenseUnearned premiumsNetpremiums earnedNetinvestment income1Lossand lossexpense incurredAmortizationof deferredpolicyacquisition costsOtheroperating expenses2Netpremiums written
Standard Commercial Lines Segment$279,8503,832,1511,346,8092,443,885—1,426,768539,606278,9152,593,018
Standard Personal Lines Segment12,911270,066317,276293,559—212,11625,91851,559292,265
E&S Lines Segment34,154478,686139,122279,809—175,10060,94527,734304,430
Investments Segment————344,188————
Total$326,9154,580,9031,803,2073,017,253344,1881,813,984626,469358,2083,189,713

2“Other operating expenses” of $358,208 reconciles to the Consolidated Statements of Income as follows:

Other insurance expenses$375,931
Other income(17,723)
Total$358,208

SCHEDULE IV

REINSURANCE

Years ended December 31, 2023, 2022, and 2021

($ thousands)Direct AmountAssumed from Other CompaniesCeded to Other CompaniesNet Amount% of Amount Assumed to Net
Premiums earned:
Accident and health insurance$—————
Property and liability insurance4,386,55625,027583,9773,827,6061%
Total premiums earned4,386,55625,027583,9773,827,6061%
Premiums earned:
Accident and health insurance$—————
Property and liability insurance3,880,52230,742537,8843,373,3801%
Total premiums earned3,880,52230,742537,8843,373,3801%
Premiums earned:
Accident and health insurance$2—2——
Property and liability insurance3,472,71321,550477,0103,017,2531%
Total premiums earned3,472,71521,550477,0123,017,2531%

SCHEDULE V

ALLOWANCE FOR CREDIT LOSSES ON PREMIUMS AND OTHER RECEIVABLES

Years ended December 31, 2023, 2022, and 2021

($ in thousands)202320222021
Balance, January$17,70015,20022,777
Additions7,9807,4781,766
Deductions(5,080)(4,978)(9,343)
Balance, December 31$20,60017,70015,200

EXHIBIT INDEX

Exhibit
Number
3.1Amended and Restated Certificate of Incorporation of Selective Insurance Group, Inc., filed May 4, 2010, as amended by Certificate of Correction thereto, dated August 17, 2020 and effective May 4, 2010 (incorporated by reference herein to Exhibit 3.1 of the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed October 29, 2020, File No. 001-33067).
3.2Certificate of Amendment of the Restated Certificate of Incorporation of Selective Insurance Group, Inc., with respect to the 4.60% Non-Cumulative Preferred Stock, Series B of Selective Insurance Group, Inc., filed with the State of New Jersey Department of Treasury and effective December 7, 2020 (incorporated by reference to Exhibit 3.2 to the Company’s Registration Statement on Form 8-A, filed December 8, 2020, File No. 001-33067).
3.3By-Laws of Selective Insurance Group, Inc., effective January 1, 2024 (incorporated by reference herein to Exhibit 3.1 of the Company's Current Report on Form 8-K, filed December 15, 2023, File No. 001-33067).
4.1Indenture, dated as of September 24, 2002, between Selective Insurance Group, Inc. and National City Bank, as Trustee, relating to the Company's 1.6155% Senior Convertible Notes due September 24, 2032 (incorporated by reference herein to Exhibit 4.1 of the Company's Registration Statement on Form S-3, filed November 26, 2002 File No. 333-101489).
4.2Indenture, dated as of November 16, 2004, between Selective Insurance Group, Inc. and Wachovia Bank, National Association, as Trustee, relating to the Company's 7.25% Senior Notes due 2034 (incorporated by reference herein to Exhibit 4.1 of the Company's Current Report on Form 8-K, filed November 18, 2004, File No. 000-08641).
4.3Indenture, dated as of November 3, 2005, between Selective Insurance Group, Inc. and Wachovia Bank, National Association, as Trustee, relating to the Company’s 6.70% Senior Notes due 2035 (incorporated by reference herein to Exhibit 4.1 of the Company’s Current Report on Form 8-K, filed November 9, 2005, File No. 000-08641).
4.4Indenture, dated as of February 8, 2013, between Selective Insurance Group, Inc. and U.S. Bank National Association, as Trustee (incorporated by reference herein to Exhibit 4.1 of the Company's Current Report on Form 8-K, filed February 8, 2013, File No. 001-33067).
4.5Second Supplemental Indenture, dated as of March 1, 2019 between Selective Insurance Group, Inc. and U.S. Bank National Association, as Trustee, relating to the Company’s 5.375% Senior Notes due 2049 (incorporated by reference herein to Exhibit 4.1 of the Company’s Current Report on Form 8-K, filed March 1, 2019 File No. 001-33067).
4.6Deposit Agreement, dated as of December 9, 2020, among the Company and Equiniti Trust Company, acting as Depositary, Registrar and Transfer Agent, and the holders from time to time of the depositary receipts described therein (incorporated by reference herein to Exhibit 4.2 of the Company’s Current Report on Form 8-K, filed December 9, 2020, File No. 001-33067).
4.7Description of the Company's Securities Registered Under Section 12 of the Securities Exchange Act of 1934, as amended (incorporated by reference herein to Exhibit 4.9 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed February 12, 2021, File No. 001-33067).
10.1+Selective Insurance Supplemental Pension Plan, As Amended and Restated Effective January 1, 2005 (incorporated by reference herein to Exhibit 10.1 of the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2008, filed October 31, 2008, File No. 001-33067).
10.1a+Amendment No. 1 to Selective Insurance Supplemental Pension Plan, As Amended and Restated Effective January 1, 2005 (incorporated by reference herein to Exhibit 10.1 of the Company's Current Report on Form 8-K, filed March 25, 2013, File No. 001-33067).
10.1b+Amendment No. 2 to Selective Insurance Supplemental Pension Plan, As Amended and Restated Effective January 1, 2005 (incorporated by reference herein to Exhibit 10.1 of the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, filed May 5, 2020, File No. 001-33067).
Exhibit
Number
10.2+Selective Insurance Company of America Deferred Compensation Plan (2005), As Amended and Restated Effective as of January 1, 2010 (incorporated by reference herein to Exhibit 10.2 of the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, filed October 27, 2011, File No. 001-33067).
10.2a+Amendment No 1. to Selective Insurance Company of America Deferred Compensation Plan (2005) (incorporated by reference herein to Exhibit 10.2a of the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, filed October 27, 2011, File No. 001-33067).
10.2b+Amendment No. 2 to Selective Insurance Company of America Deferred Compensation Plan (2005), As Amended and Restated Effective as of January 1, 2010 (incorporated by reference herein to Exhibit 10.2 of the Company's Current Report on Form 8-K, filed March 25, 2013, File No. 001-33067).
10.3+Selective Insurance Group, Inc. 2014 Omnibus Stock Plan, effective May 1, 2014 (incorporated by reference herein to Appendix A-1 to the Company’s Definitive Proxy Statement for its 2014 Annual Meeting of Stockholders, filed April 3, 2014, File No. 001-33067).
10.4+Selective Insurance Group, Inc. 2014 Omnibus Stock Plan Director Stock Option Agreement (incorporated by reference herein to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, filed April 24, 2014, File No. 001-33067).
10.5+Selective Insurance Group, Inc. 2014 Omnibus Stock Plan Stock Option Agreement (incorporated by reference herein to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, filed April 24, 2014, File No. 001-33067).
10.6+Selective Insurance Group, Inc. 2014 Omnibus Stock Plan Service-Based Restricted Stock Agreement (incorporated by reference herein to Exhibit 10.3 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, filed April 24, 2014, File No. 001-33067).
10.7+Selective Insurance Group, Inc. 2014 Omnibus Stock Plan Performance-Based Restricted Stock Agreement (incorporated by reference herein to Exhibit 10.4 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, filed April 24, 2014, File No. 001-33067).
10.8+Selective Insurance Group, Inc. 2014 Omnibus Stock Plan Service-Based Restricted Stock Unit Agreement (incorporated by reference herein to Exhibit 10.5 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, filed April 24, 2014, File No. 001-33067).
10.9+Selective Insurance Group, Inc. 2014 Omnibus Stock Plan Performance-Based Restricted Stock Unit Agreement (incorporated by reference herein to Exhibit 10.6 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, filed April 24, 2014, File No. 001-33067).
10.10+Selective Insurance Group, Inc. 2014 Omnibus Stock Plan Director Restricted Stock Unit Agreement (incorporated by reference herein to Exhibit 10.7 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, filed April 24, 2014, File No. 001-33067).
10.11+Selective Insurance Group, Inc. 2005 Omnibus Stock Plan As Amended and Restated Effective as of May 1, 2010 (incorporated by reference herein to Appendix C of the Company’s Definitive Proxy Statement for its 2010 Annual Meeting of Stockholders, filed March 25, 2010, File No. 001-33067).
10.12+Selective Insurance Group, Inc. 2014 Omnibus Stock Plan as Amended and Restated Effective as of May 2, 2018 (incorporated by reference herein to Appendix A of the Company’s Definitive Proxy Statement for its 2018 Annual Meeting of Stockholders, filed March 26, 2018, File No. 001-33067).
10.13+Selective Insurance Group, Inc. Non-Employee Directors’ Compensation and Deferral Plan, As Amended and Restated Effective as of January 1, 2017 (incorporated by reference herein to Exhibit 10.18 to the Company's Annual Report on Form 10-K for the year ended December 31, 2016, filed February 22, 2017, File No. 001-33067).
*10.14+Deferred Compensation Plan for Directors of Selective Insurance Group, Inc. and Subsidiaries, Amended and Restated as of May 8, 1996.
Exhibit
Number
10.15+Selective Insurance Group, Inc. Employee Stock Purchase Plan (2021), Amended and Restated Effective July 1, 2021 (incorporated by reference herein to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed April 29, 2021, File No. 001-33067).
10.16+Selective Insurance Group, Inc. Cash Incentive Plan As Amended and Restated as of May 1, 2014 (incorporated by reference herein to Appendix B to the Company’s Definitive Proxy Statement for its 2014 Annual Meeting of Stockholders, filed March 24, 2014, File No. 001-33067).
10.17+Selective Insurance Group, Inc. Cash Incentive Plan Service-Based Cash Incentive Unit Award Agreement (incorporated by reference herein to Exhibit 10.8 of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, filed April 24, 2014, File No. 001-33067).
10.18+Selective Insurance Group, Inc. Cash Incentive Plan Performance-Based Cash Incentive Unit Award Agreement (incorporated by reference herein to Exhibit 10.9 of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, filed April 24, 2014, File No. 001-33067).
10.19+Amended and Restated Selective Insurance Group, Inc. Stock Purchase Plan for Independent Insurance Agencies (2010), Amended and Restated as of November 1, 2020 (incorporated by reference herein to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, filed October 29, 2020, File No. 001-33067).
10.20+Employment Agreement between Selective Insurance Company of America and John J. Marchioni, dated as of February 10, 2020 (incorporated by reference herein to Exhibit 10.32 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, filed February 12, 2020, File No. 001-33067).
10.21+Employment Agreement between Selective Insurance Company of America and Mark A. Wilcox, dated as of October 28, 2016 (incorporated by reference herein to Exhibit 10.1 of the Company’s Current Report on Form 8-K, filed October 31, 2016, File No. 001-33067).
10.22+Employment Agreement between Selective Insurance Company of America and Michael H. Lanza, dated as of March 2, 2020 (incorporated by reference herein to Exhibit 10.1 of the Company's Current Report on Form 8-K, filed March 2, 2020, File No. 001-33067).
10.23+Employment Agreement between Selective Insurance Company of America and Brenda M. Hall, dated as of September 30, 2019 (incorporated by reference to Exhibit 10.1 of the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed October 28, 2021, File No. 001-33067).
10.24+Employment Agreement between Selective Insurance Company of America and Paul Kush, dated as of December 5, 2019 (incorporated by reference to Exhibit 10.2 of the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed October 28, 2021, File No. 001-33067).
10.25+Employment Agreement between Selective Insurance Company of America and Vincent M. Senia, dated as of June 6, 2017 (incorporated by reference to Exhibit 10.3 of the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed October 28, 2021, File No. 001-33067).
10.26+Employment Agreement between Selective Insurance Company of America and Anthony D. Harnett, dated as of November 1, 2023 (incorporated by reference herein to Exhibit 10.1 of the Company’s Current Report on Form 8-K/A, filed November 3, 2023, File No. 001-33067).
*10.27+Employment Agreement between Selective Insurance Company of America and Joseph Owen Eppers, dated as of February 28, 2022.
*10.28+Employment Agreement between Selective Insurance Company of America and Jeffrey F. Kamrowski, dated as of March 1, 2020.
10.29Credit Agreement among Selective Insurance Group, Inc., the Lenders Named Therein and Wells Fargo Bank, National Association, as Administrative Agent, dated as of November 7, 2022 (incorporated by reference herein to Exhibit 10.1 of the Company’s Current Report on Form 8-K, filed November 11, 2022, File No. 001-33067).
Exhibit
Number
10.30Form of Indemnification Agreement between Selective Insurance Group, Inc. and each of its directors and executive officers, as adopted on May 19, 2005 (incorporated by reference herein to Exhibit 10.1 of the Company’s Current Report on Form 8-K, filed May 20, 2005, File No. 000-08641).
*21Subsidiaries of Selective Insurance Group, Inc.
*23.1Consent of KPMG LLP.
*24.1Power of Attorney of Ainar D. Aijala, Jr.
*24.2Power of Attorney of Lisa Rojas Bacus.
*24.3Power of Attorney of Terrence W. Cavanaugh.
*24.4Power of Attorney of Wole C. Coaxum.
*24.5Power of Attorney of Robert Kelly Doherty.
*24.6Power of Attorney of Thomas A. McCarthy.
*24.7Power of Attorney of Stephen C. Mills.
*24.8Power of Attorney of H. Elizabeth Mitchell.
*24.9Power of Attorney of Cynthia S. Nicholson.
*24.10Power of Attorney of John S. Scheid.
*24.11Power of Attorney of J. Brian Thebault.
*24.12Power of Attorney of Philip H. Urban.
*31.1Certification of Chief Executive Officer in accordance with Section 302 of the Sarbanes-Oxley Act of 2002.
*31.2Certification of Chief Financial Officer in accordance with Section 302 of the Sarbanes-Oxley Act of 2002.
**32.1Certification of Chief Executive Officer in accordance with Section 906 of the Sarbanes-Oxley Act of 2002.
**32.2Certification of Chief Financial Officer in accordance with Section 906 of the Sarbanes-Oxley Act of 2002.
*97.1Selective Insurance Group, Inc. Compensation Recoupment Policy.
*99.1Glossary of Terms.
** 101The following financial statements from the Company's Annual report on Form 10-K for the year ended December 31, 2023, formatted in Inline Extensible Business Reporting Language (iXBRL): (i) Consolidated Balance Sheets, (ii) Consolidated Statements of Income, (II) Consolidated Statements of Comprehensive Income, (iv) Consolidated Statements of Stockholders' Equity, (v) Consolidated Statements of Cash Flows, and (vi) Notes to Consolidated Financial Statements.
** 104The cover page from the Company's Annual Report on Form 10-K for the year ended December 31, 2023, formatted in iXBRL.
  • Filed herewith.

** Furnished and not filed herewith.

  • Management compensation plan or arrangement.
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