Selective Reports Third Quarter 2022 Results, Including Net Income of $0.66 per Diluted Common Share and Non-GAAP Operating Income(1) of $0.99 per Diluted Common Share

Third Quarter Return on Common Equity ("ROE") of 7.0% and Non-GAAP Operating ROE¹ of 10.5%

In the third quarter of 2022, we reported:

BRANCHVILLE, N.J., Nov. 2, 2022 /PRNewswire/ -- Selective Insurance Group, Inc. (NASDAQ: SIGI) reported financial results for the third quarter ended September 30, 2022, with net income per diluted common share of $0.66 and non-GAAP operating income¹ per diluted common share of $0.99. The third quarter combined ratio was a profitable 96.8%, with 4.0% points of catastrophe losses, including a $10 million ultimate net loss for Hurricane Ian. Non-catastrophe property losses were 3.5 points above the prior-year period. The non-GAAP operating ROE was 10.5%, and NPW increased 11% from a year ago. NPW growth was strong across our Standard Commercial Lines, Standard Personal Lines, and Excess & Surplus segments, driven by renewal pure price increases, solid retention, and exposure growth.  For the quarter, the Investments segment contributed 8.9 points of annualized ROE.