

($ in thousands)	Deferred policy acquisition costs		Reserve for loss and loss expenses¹	Unearned premiums	Net premiums earned	Net investment income²	Losses and loss expenses incurred	Amortization of deferred policy acquisition costs³	Other operating expenses³	Net premiums written
Standard Insurance Operations Segment	$	141,551	3,948,638	917,918	1,504,890	—	1,057,787	280,700	210,852	1,553,586
E&S Insurance Operations Segment	13,972		120,303	56,788	79,229	—	63,203	17,847	17,737	113,297
Investments Segment	—		—	—	—	140,865	—	—	—	—
Total	$	155,523	4,068,941	974,706	1,584,119	140,865	1,120,990	298,547	228,589	1,666,883

¹The E&S Insurance Operations Segment amount is presented gross of the reinsurance recoverable of $53.3 million.

²Includes “Net investment income earned” and “Net realized investment gains” on the Consolidated Statements of Income.

³The total of “Amortization of deferred policy acquisition costs” of $298,547 and “Other operating expenses” of $228,589 reconciles to the Consolidated Statements of Income as follows:



Policy acquisition costs	$	526,143
Other income⁴	(8,827		)
Other expenses⁴	9,820
Total	$	527,136

⁴In addition to amounts related to the Standard and E&S Insurance Operations segments, “Other income” and “Other expenses” on the Consolidated Statements of Income includes holding company income and expense amounts of $291 and $20,642, respectively.

Year ended December 31, 2011



($ in thousands)	Deferred policy acquisition costs		Reserve for loss and loss expenses¹	Unearned premiums	Net premiums earned	Net investment income²	Losses and loss expenses incurred	Amortization of deferred policy acquisition costs³	Other operating expenses³	Net premiums written
Insurance Operations Segment	$	131,043	3,083,359	885,850	1,435,399	—	1,071,815	265,009	195,498	1,461,216
E&S Insurance Operations Segment	4,718		61,565	21,141	3,914	—	3,172	1,052	6,351	24,133
Investments Segment	—		—	—	—	149,683	—	—	—	—
Total	$	135,761	3,144,924	906,991	1,439,313	149,683	1,074,987	266,061	201,849	1,485,349

¹The E&S Insurance Operations Segment amount is presented gross of the reinsurance recoverable of $44.0 million.

²Includes “Net investment income earned” and “Net realized investment gains” on the Consolidated Statements of Income.

³ The total of “Amortization of deferred policy acquisition costs” of $266,061 and “Other operating expenses” of $201,849 reconciles to the Consolidated Statements of Income as follows:



Policy acquisition costs	$	466,404
Other income⁴	(8,069		)
Other expenses⁴	9,575
Total	$	467,910

⁴ In addition to amounts related to the Standard and E&S Insurance Operations segments, “Other income” and “Other expenses” on the Consolidated Statements of Income includes holding company income and expense amounts of $410 and $16,850, respectively.

SCHEDULE IV (continued)

SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES

SUPPLEMENTARY INSURANCE INFORMATION

Year ended December 31, 2010



($ in thousands)	Deferred policy acquisition costs		Reserve for loss and loss expenses	Unearned premiums	Net premiums earned	Net investment income¹	Losses and loss expenses incurred	Amortization of deferred policy acquisition costs²	Other operating expenses²	Net premiums written
Insurance Operations Segment	$	127,984	2,830,058	823,596	1,416,598	—	982,118	276,946	177,508	1,390,541
Investments Segment	—		—	—	—	138,625	—	—	—	—
Total	$	127,984	2,830,058	823,596	1,416,598	138,625	982,118	276,946	177,508	1,390,541

¹ Includes “Net investment income earned” and “Net realized investment gains” on the Consolidated Statements of Income.

² The total of “Amortization of deferred policy acquisition costs” of $276,946 and “Other operating expenses” of $177,508 reconciles to the Consolidated Statements of Income as follows:



Policy acquisition costs	$	455,852
Other income³	(9,230		)
Other expenses³	7,832
Total	$	454,454

³ In addition to amounts related to the Insurance Operations segment, “Other income” and “Other expenses” on the Consolidated Statements of Income includes holding company income and expense amounts of $168 and $16,054, respectively.