SELECTIVE INSURANCE GROUP INC
For the period ended Jun 30, 2025. Filed Jul 25, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Jul 25, 2025
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Federal Income Taxes
The following table provides information about federal income taxes and reconciles federal income tax at the corporate rate to the effective tax rate:
| Quarter ended June 30, | Six Months endedJune 30, | |||
|---|---|---|---|---|
| ($ in thousands) | 2025 | 2024 | 2025 | 2024 |
| Tax at statutory rate | $22,870 | (16,821) | $52,036 | 4,718 |
| Tax-advantaged interest | (275) | (354) | (500) | (756) |
| Dividends received deduction | (53) | (79) | (103) | (117) |
| Executive compensation | 251 | 634 | 1,425 | 1,957 |
| Stock-based compensation | 8 | (15) | (487) | (1,454) |
| Other | 161 | (144) | (419) | (1,079) |
| Federal income tax expense (benefit) | $22,962 | (16,779) | $51,952 | 3,269 |
| Income before federal income tax, less preferred stock dividends | $106,605 | (82,398) | $243,191 | 17,868 |
| Effective tax rate | 21.5% | 20.4 | 21.4% | 18.3 |
On July 4, 2025, the One Big Beautiful Bill Act (the "Act") became law. The legislation extends and modifies multiple tax provisions, some affecting current and future years. By rule, we must reflect tax changes in the enactment period, which was July 2025. Accordingly, we are analyzing the Act's impact, including provisions that allow 100% bonus depreciation and full expensing of domestic research and development expenses.
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