Selective Insurance Group Inc 2024年度报告

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549 FORM 10-K ☐ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2024 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_______________________to_______________________ Commission file number: 001-33067 SELECTIVE INSURANCE GROUP, INC.(Exact Name of Registrant as Specified in Its Charter) 22-2168890 New Jersey (State or Other Jurisdiction of Incorporation orOrganization) (I.R.S. Employer Identification No.) 40 Wantage Avenue, Branchville, New Jersey 07890(Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, includingarea code:(973)948-3000 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.☐Yes☐No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of theAct.☐Yes☐No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2) has been subject to such filing requirements for the past 90 days.☐Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).☐Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer,""accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☐Emerging growth company☐Non-accelerated filer☐Smaller reporting company☐1 Tableof ContentsIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessmentof the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financialstatements of the registrant included in the filing reflect the correction of an error to previously issued financialstatements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis ofincentive-based compensation received by any of the registrant’s executive officers during the relevant recoveryperiod pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).☐Yes☐No The aggregate market value of the voting company common stock held by non-affiliates of the registrant, based onthe closing price on the Nasdaq Global Select Market, was $5,667,194,813 on June 30, 2024. As of January 31,2025, the registrant had outstanding 60,805,019 shares of common stock. DOCUMENTS INCORPORATED BY REFERENCEPortions of the registrant’s definitive Proxy Statement for the 2025 Annual Meeting of Stockholders to be held on April 30, 2025, are incorporated by reference into Part III of this report. 2 Tableof Contents SELECTIVE INSURANCE GROUP, INC. Table of Contents Item 2.Properties35Item 3.Legal Proceedings35Item 4.Mine Safety Disclosures35PART IIItem 5.Market For Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities35Item 6.Reserved37Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations37Forward-looking Statements37Introduction37Critical Accounting Policies and Estimates38Financial Highlights of Results for Years Ended December 31, 2024, 2023, and 202246Results of Operations and Related Information by Segment48Federal Income Taxes64Liquidity and Capital Resources65Item 7A.Quantitative and Qualitative Disclosures About Market Risk69Item 8.Financial Statements and Supplementary Data75Consolidated Balance Sheets as of December 31, 2024and 202377Consolidated Statements of Income for the Years Ended December 31, 2024, 2023, and 202278Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2024,2023, and