Selective Insurance Group, Inc.

selective.com

What Do They Do?

Sells property and casualty insurance for businesses, non-profit organizations, local governments and individuals through independent insurance agents and wholesale brokers.

How Do They Make Money?

Insurance customers pay premiums for coverage, with most policies lasting one year and premiums earned over the coverage period. The company also earns investment income from premiums and other funds invested in securities and other assets.

revenue

Segment	Share	Revenue	How money arrives
Insurance Operations Recurring	89%		Recurring
Investments Usage-based	10% FY2022: 4.9%		Usage-based

Who Are Their Customers?

Businesses, non-profit organizations and local government agencies buy commercial coverage; individuals buy personal policies. Independent retail agents sell standard commercial and personal policies, while wholesale general agents and independent retail agents sell specialty commercial coverage.

Do Revenues Turn Into Profits?

Yes. It kept 9 cents of every revenue dollar as net income in FY2025 and turned 22 cents into free cash flow.

Net income, FY2025

9% of revenue

▲ +125% vs FY2024 ($207M, 4%)

Free cash flow, FY2025

22% of revenue

▲ +12% vs FY2024 ($1.1B, 22%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Sep 30, 2026

Revenue: ▼ −2%; vs $1.4B in Q3 FY2025
Net income: ▲ +12%; vs $115.3M in Q3 FY2025

Insurance Operations share of revenue vs 88.6% in Q3 FY2025

Growing. Revenue grew 58% in 4 years, from $3.4B in FY2021 to $5.3B in FY2025, about 12% a year.

Revenue over time

Insurance Operations Investments Standard Personal Lines Standard Commercial Lines E&S Lines

$10B$5B$0

FY2022 FY2023 FY2024 FY2025

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