Untitled Document

Fundamentals

Income Statement

Selective Insurance Group, Inc. & Consolidated Subsidiaries
Consolidated Statements of Income

Unaudited Quarter Ended
December 31,
  Year Ended
December 31,
($ in thousands, except per share amounts)   2016   2015   Unaudited
2016

2015
Revenues:                
Net premiums earned $ 552,753   516,087    2,149,572    1,989,909
Net investment income earned   35,428   30,108    130,754    121,316
Net realized (losses) gains:                
Net realized investment (losses) gains   (3,671)   7,939    3,562    31,537
Other-than-temporary impairments   (4,015)   (10,539)    (8,509)    (18,366)
Other-than-temporary impairments on fixed income securities recognized in other comprehensive income    --   --   10    --
Total net realized (losses) gains   (7,686)   (2,600)    (4,937)    13,171
Other income   1,863   1,935    8,881    7,456
Total revenues   582,358   545,530    2,284,270    2,131,852
                 
Expenses:                
Losses and loss expenses incurred   322,916   286,820    1,234,797    1,148,541
Policy acquisition costs   195,965   180,525    763,758    689,820
Interest expense   5,831   5,603    22,771    22,428
Other expenses   7,320   8,784    42,989    38,371
Total expenses   532,032   481,732    2,064,315    1,899,160
                 
Income before federal income tax   50,326   63,798    219,955    232,692
                 
Federal income tax expense:                
Current   10,554   16,219    48,581    45,347
Deferred   412   2,190    12,879    21,484
Total federal income tax expense   10,966   18,409    61,460    66,831
                 
Net income  $ 39,360   45,389    158,495    165,861
                 
Earnings per share:                
Basic net income $ 0.68   0.79    2.74    2.90
                 
Diluted net income  $ 0.67   0.78    2.70    2.85
                 
Dividends to stockholders $ 0.16   0.15    0.61    0.57