EX-11 2 sigi-ex11_9302012xq3.htm EXHIBIT
Exhibit 11
SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE

Third Quarter 2012 |  | Income |  | Shares |  | Per Share
(in thousands, except per share amounts) |  | (Numerator) |  | (Denominator) |  | Amount
Basic EPS: |  |  |  |  |  |
Net income available to common shareholders | $ | 18,274 |  |  | 54,969 |  | $ | 0.33 |
Effect of dilutive securities: |  |  |  |  |  |
Stock compensation plans |  | — |  |  | 893 |  |  |
Diluted EPS: |  |  |  |  |  |
Net income available to common stockholders | $ | 18,274 |  |  | 55,862 |  | $ | 0.33 |

Third Quarter 2011 |  | Income |  | Shares |  | Per Share
(in thousands, except per share amounts) |  | (Numerator) |  | (Denominator) |  | Amount
Basic EPS: |  |  |  |  |  |
Net loss from continuing operations | $ | (17,318 | ) |  | 54,183 |  | $ | (0.32 | )
Net loss from discontinued operations |  | (650 | ) |  | 54,183 |  |  | (0.01 | )
Net loss available to common shareholders |  | (17,968 | ) |  | 54,183 |  |  | (0.33 | )
Effect of dilutive securities: |  |  |  |  |  |
Stock compensation plans |  | — |  |  | — |  |  |
Diluted EPS: |  |  |  |  |  |
Net loss from continuing operations |  | (17,318 | ) |  | 54,183 |  |  | (0.32 | )
Net loss from discontinued operations |  | (650 | ) |  | 54,183 |  |  | (0.01 | )
Net loss available to common stockholders | $ | (17,968 | ) |  | 54,183 |  | $ | (0.33 | )

There was no effect of dilutive securities for Third Quarter 2011 since the quarter was in a loss position and the effect of common stock equivalents would be anti-dilutive to our earnings per share calculation.

Nine Months 2012 |  | Income |  | Shares |  | Per Share
(in thousands, except per share amounts) |  | (Numerator) |  | (Denominator) |  | Amount
Basic EPS: |  |  |  |  |  |
Net income available to common shareholders | $ | 36,655 |  |  | 54,825 |  | $ | 0.67 |
Effect of dilutive securities: |  |  |  |  |  |
Stock compensation plans |  | — |  |  | 892 |  |  |
Diluted EPS: |  |  |  |  |  |
Net income available to common stockholders | $ | 36,655 |  |  | 55,717 |  | $ | 0.66 |

Nine Months 2011 |  | Income |  | Shares |  | Per Share
(in thousands, except per share amounts) |  | (Numerator) |  | (Denominator) |  | Amount
Basic EPS: |  |  |  |  |  |
Net income from continuing operations | $ | 4,649 |  |  | 54,033 |  | $ | 0.08 |
Net loss from discontinued operations |  | (650 | ) |  | 54,033 |  |  | (0.01 | )
Net income available to common shareholders |  | 3,999 |  |  | 54,033 |  |  | 0.07 |
Effect of dilutive securities: |  |  |  |  |  |
Stock compensation plans |  | — |  |  | 1,139 |  |  |
Diluted EPS: |  |  |  |  |  |
Net income from continuing operations |  | 4,649 |  |  | 55,172 |  |  | 0.08 |
Net loss from discontinued operations |  | (650 | ) |  | 55,172 |  |  | (0.01 | )
Net income available to common stockholders | $ | 3,999 |  |  | 55,172 |  | $ | 0.07 |