SELECTIVE INSURANCE GROUP INC
For the period ended Sep 30, 2025. Filed Oct 24, 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.
Sep 30, 2025 · Filed Oct 24, 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 September 30, | Nine Months endedSeptember 30, | |||
|---|---|---|---|---|
| ($ in thousands) | 2025 | 2024 | 2025 | 2024 |
| Tax at statutory rate | $30,599 | 24,463 | $82,636 | 29,181 |
| Tax-advantaged interest | (385) | (306) | (886) | (1,062) |
| Dividends received deduction | (27) | (44) | (130) | (161) |
| Executive compensation | 181 | 203 | 1,606 | 2,160 |
| Stock-based compensation | (1) | (4) | (488) | (1,458) |
| Other | 4 | (103) | (415) | (1,182) |
| Federal income tax expense (benefit) | $30,371 | 24,209 | $82,323 | 27,478 |
| Income before federal income tax, less preferred stock dividends | $143,411 | 114,187 | $386,602 | 132,055 |
| Effective tax rate | 21.2% | 21.2 | 21.3% | 20.8 |
On July 4, 2025, the One Big Beautiful Bill Act (the "Act") became law. The legislation is extensive, and some changes will affect current and future years. The tax law changes are reflected in the enactment period, which is Third Quarter 2025. Accordingly, we have analyzed the Act's major impacts, which include provisions that allow 100% bonus depreciation for certain qualified assets and full deduction of domestic research and development expenditures. Both are temporary differences and do not impact total tax expense but provide a cash tax benefit that is estimated at $6.4 million, for the 2025 tax year.
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