EX-11 3 v310379_ex11.htm EXHIBIT 11

EXHIBIT 11

SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE

First Quarter 2012		Income				Shares				Per Share
(in thousands, except per share amounts)		(Numerator)				(Denominator)				Amount
Basic EPS:
Net income available to common shareholders		$	18,093				54,659			$	0.33
Effect of dilutive securities:
Stock compensation plans			-				946
Diluted EPS:
Net income available to common stockholders		$	18,093				55,605			$	0.33

First Quarter 2011		Income				Shares				Per Share
(in thousands, except per share amounts)		(Numerator)				(Denominator)				Amount
Basic EPS:
Net income available to common shareholders		$	20,500				53,863			$	0.38
Effect of dilutive securities:
Stock compensation plans			-				1,191
Diluted EPS:
Net income available to common stockholders		$	20,500				55,054			$	0.37