Exhibit 99.2

FINANCIAL SUPPLEMENT

FIRST QUARTER 2018

Forward-Looking Statements

Certain statements in this report, including information incorporated by reference, are “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995 ("PSLRA"). The PSLRA provides a safe harbor under the Securities Act of 1933 and the Securities Exchange Act of 1934 for forward-looking statements. These statements relate to our intentions, beliefs, projections, estimations, or forecasts of future events or our future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels of activity, or performance to be materially different from those expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by use of words such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “target,” “project,” “intend,” “believe,” “estimate,” “predict,” “potential,” “pro forma,” “seek,” “likely,” or “continue” or other comparable terminology. These statements are only predictions, and we can give no assurance that such expectations will prove to be correct. We undertake no obligation, other than as may be required under the federal securities laws, to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Factors that could cause our actual results to differ materially from those projected, forecasted, or estimated by us in forward-looking statements, include, but are not limited to:

▪ difficult conditions in global capital markets and the economy;

▪ deterioration in the public debt and equity markets and private investment marketplace that could lead to investment losses and fluctuations in interest rates;

▪ ratings downgrades could affect investment values and, therefore, statutory surplus;

▪ the adequacy of our loss reserves and loss expense reserves;

▪ the frequency and severity of natural and man-made catastrophic events, including, but not limited to, hurricanes, tornadoes, windstorms, earthquakes, hail, terrorism, explosions, severe winter weather, floods, and fires;

▪ adverse market, governmental, regulatory, legal, or judicial conditions or actions;

▪ the concentration of our business in the Eastern Region;

▪ the cost and availability of reinsurance;

▪ our ability to collect on reinsurance and the solvency of our reinsurers;

▪ uncertainties related to insurance premium rate increases and business retention;

▪ changes in insurance regulations that impact our ability to write and/or cease writing insurance policies in one or more states;

▪ recent federal financial regulatory reform provisions that could pose certain risks to our operations;

▪ our ability to maintain favorable ratings from rating agencies, including A.M. Best, Standard & Poor’s, Moody’s, and Fitch;

▪ our entry into new markets and businesses; and

▪ other risks and uncertainties we identify in filings with the United States Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K and other periodic reports.

These risk factors may not be exhaustive. We operate in a continually changing business environment, and new risk factors emerge from time-to-time. We can neither predict such new risk factors nor can we assess the impact, if any, of such new risk factors on our businesses or the extent to which any factor or combination of factors may cause actual results to differ materially from those expressed or implied in any forward-looking statements in this report. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this report might not occur.

Selective’s SEC filings can be accessed through the Investors page of Selective’s website, www.Selective.com, or through the SEC’s EDGAR Database at www.sec.gov (Selective EDGAR CIK No. 0000230557).

Selective Insurance Group, Inc. & Consolidated Subsidiaries

TABLE OF CONTENTS

	Page
Consolidated Financial Highlights	1
Consolidated Statements of Operations	2
Consolidated Balance Sheets	3
Financial Metrics	4
Consolidated Insurance Operations Statement of Operations	5
Standard Commercial Lines Statement of Operations and Supplemental Data	6
Standard Commercial Lines GAAP Line of Business Results	7
Standard Personal Lines Statement of Operations and Supplemental Data	8
Standard Personal Lines GAAP Line of Business Results	9
Excess and Surplus Lines Statement of Operations and Supplemental Data	10
Excess and Surplus Lines GAAP Line of Business Results	11
Consolidated Investment Income	12
Consolidated Composition of Invested Assets	13
Reconciliation of Net Income to Non-GAAP Operating Income and Certain Other Non-GAAP Measures	14
Ratings and Contact Information	15

Selective Insurance Group, Inc. & Consolidated Subsidiaries

CONSOLIDATED FINANCIAL HIGHLIGHTS

(Unaudited)

		Quarter ended
		Mar. 31,				Dec. 31,		Sept. 30,	June 30,	Mar. 31,
($ and shares in millions, except per share data)		2018				2017		2017	2017	2017
For Period Ended
	Gross premiums written	$	720.5			642.3		715.4	712.9	689.5
	Net premiums written	624.6				553.8		604.3	613.8	598.7
	Change in net premiums written, from comparable prior year period	4			%	8		4	6	6
	Underwriting income, before-tax	$	4.7			42.4		32.4	30.3	49.2
	Net investment income earned, before-tax	43.2				42.6		40.4	41.4	37.4
	Net realized and unrealized investment (losses) gains, before-tax*	(10.5		)		(1.1	)	6.8	1.7	(1.0	)
	Net income	$	18.9			30.2		46.7	41.4	50.4
	Non-GAAP operating income**	27.3				51.2		42.3	40.3	51.1
At Period End
	Total assets	7,659.9				7,686.4		7,812.1	7,528.2	7,404.1
	Total invested assets	5,678.6				5,685.2		5,710.8	5,503.0	5,460.8
	Stockholders' equity	1,659.8				1,713.0		1,699.4	1,652.6	1,592.6
	Shares outstanding	58.7				58.5		58.4	58.4	58.2
Per Share and Share Data
	Net income per diluted share	$	0.32			0.51		0.79	0.70	0.85
	Non-GAAP operating income per diluted share**	0.46				0.86		0.72	0.68	0.86
	Weighted average diluted shares outstanding	59.6				59.5		59.3	59.2	59.1
	Book value per share	$	28.25			29.28		29.10	28.32	27.34
	Dividends paid per share	0.18				0.18		0.16	0.16	0.16
Financial Ratios
	Loss and loss expense ratio	65.0			%	57.8		60.2	60.2	56.6
	Underwriting expense ratio	33.8				34.7		33.9	34.2	34.6
	Dividends to policyholders ratio	0.4				0.3		0.2	0.3	—
	GAAP combined ratio	99.2			%	92.8		94.3	94.7	91.2
	Annualized ROE	4.5				7.1		11.2	10.2	12.9
	Annualized non-GAAP operating ROE**	6.5				12.0		10.1	9.9	13.1
	Debt to total capitalization	22.9				20.4		20.5	21.0	21.6
	Net premiums written to policyholders' surplus	1.4			x	1.4x		1.4x	1.4x	1.4x
	Invested assets per dollar of stockholders' equity	$	3.42			3.32		3.36	3.33	3.43
*	Refer to Page 2 for components of realized and unrealized investment losses and gains.
**	Non-GAAP measure. Refer to Page 14 for definition.

Page 1

Selective Insurance Group, Inc. & Consolidated Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

		Quarter ended
		Mar. 31,			Dec. 31,		Sept. 30,		June 30,		Mar. 31,
($ and shares in millions, except per share data)		2018			2017		2017		2017		2017
Revenues
	Net premiums earned	$	591.8		590.1		572.1		568.0		560.9
	Net investment income earned	43.2			42.6		40.4		41.4		37.4
	Net realized and unrealized (losses) gains:
	Net realized investment gains (losses) on disposals	4.7			(1.0	)	6.9		3.0		2.4
	Other-than-temporary impairments	(1.2		)	(0.1	)	(0.1	)	(1.2	)	(3.5	)
	Unrealized losses on equity securities	(14.1		)	—		—		—		—
	Total net realized and unrealized (losses) gains	(10.5		)	(1.1	)	6.8		1.7		(1.0	)
	Other income	2.2			2.2		2.0		3.3		3.2
	Total revenues	626.7			633.7		621.3		614.5		600.5
Expenses
	Loss and loss expenses incurred	384.9			341.5		344.6		341.6		317.5
	Amortization of deferred policy acquisition costs	121.1			119.2		118.1		116.6		115.4
	Other insurance expenses	83.2			89.3		78.9		82.9		82.1
	Interest expense	6.2			6.1		6.1		6.1		6.1
	Corporate expenses	11.3			9.6		6.3		8.5		11.9
	Total expenses	606.8			565.6		554.0		555.6		532.9
Income before federal income taxes		19.9			68.2		67.3		58.9		67.6
Federal income tax expense		1.0			37.9		20.6		17.5		17.1
Net Income		$	18.9		30.2		46.7		41.4		50.4
Exclude: Net realized investment losses (gains), after tax		8.3			0.7		(4.4	)	(1.1	)	0.7
Exclude: Tax reform impact - deferred tax write-off		—			20.2		—		—		—
Non-GAAP operating income*		$	27.3		51.2		42.3		40.3		51.1
Weighted average shares outstanding (diluted)		59.6			59.5		59.3		59.2		59.1
	Net income per share (diluted)	$	0.32		0.51		0.79		0.70		0.85
	Non-GAAP operating income per share (diluted)*	$	0.46		0.86		0.72		0.68		0.86
*	Non-GAAP measure. Refer to Page 14 for definition.
	Note: Amounts may not foot due to rounding.

Page 2

Selective Insurance Group, Inc. & Consolidated Subsidiaries

CONSOLIDATED BALANCE SHEETS

(Unaudited)

			Mar. 31,			Dec. 31,		Sept. 30,		June 30,		Mar. 31,
($ in millions, except per share data)			2018			2017		2017		2017		2017
ASSETS
Investments
	Fixed income securities, held-to-maturity, at carrying value		$	41.6		42.1		65.0		72.5		84.8
	Fixed income securities, available-for-sale, at fair value		5,141.6			5,162.5		5,133.4		5,018.7		4,867.0
	Equity securities, at fair value		168.8			182.7		175.3		161.7		154.9
	Short-term investments		183.0			165.6		216.3		133.7		247.2
	Other investments		143.6			132.3		120.8		116.4		106.8
		Total investments	5,678.6			5,685.2		5,710.8		5,503.0		5,460.8
Cash			0.7			0.5		0.7		8.6		0.5
Restricted cash			16.3			44.2		18.0		8.1		14.4
Interest and dividends due or accrued			42.0			40.9		40.8		40.2		40.2
Premiums receivable, net of allowance			766.3			747.0		769.8		764.3		707.7
Reinsurance recoverable, net of allowance			560.9			594.8		661.2		601.9		580.4
Prepaid reinsurance premiums			151.4			153.5		161.4		151.9		145.4
Current federal income tax			0.2			3.2		—		—		—
Deferred federal income tax			48.2			32.0		52.9		60.4		72.2
Property and equipment, net of accumulated depreciation and amortization			62.0			64.0		66.3		66.3		68.5
Deferred policy acquisition costs			239.3			235.1		242.2		234.9		227.6
Goodwill			7.8			7.8		7.8		7.8		7.8
Other assets			86.2			78.2		80.2		80.6		78.5
		Total assets	$	7,659.9		7,686.4		7,812.1		7,528.2		7,404.1
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Reserve for loss and loss expense			$	3,792.1		3,771.2		3,835.8		3,731.2		3,679.5
Unearned premiums			1,380.3			1,349.6		1,393.8		1,352.1		1,299.8
Short-term debt			55.0			—		—		—		—
Long-term debt			439.2			439.1		439.0		438.9		438.8
Current federal income tax			—			—		6.7		2.1		11.6
Accrued salaries and benefits			90.5			131.9		113.1		103.2		96.3
Other liabilities			243.1			281.6		324.3		248.2		285.6
		Total liabilities	$	6,000.2		5,973.5		6,112.8		5,875.6		5,811.5
Stockholder's Equity
Preferred stock of $0 par value per share			$	—		—		—		—		—
Common stock of $2 par value per share			205.3			204.6		204.4		204.3		204.1
Additional paid-in capital			375.2			367.7		362.7		360.0		354.2
Retained earnings			1,731.8			1,698.6		1,679.0		1,641.8		1,609.9
Accumulated other comprehensive (loss) income			(68.2		)	20.2		31.3		24.5		2.1
Treasury stock, at cost			(584.2		)	(578.1	)	(578.1	)	(578.0	)	(577.7	)
		Total stockholders' equity	$	1,659.8		1,713.0		1,699.4		1,652.6		1,592.6
Commitments and contingencies
		Total liabilities and stockholders' equity	$	7,659.9		7,686.4		7,812.1		7,528.2		7,404.1
Note: Amounts may not foot due to rounding.

Page 3

Selective Insurance Group, Inc. & Consolidated Subsidiaries

FINANCIAL METRICS

(Unaudited)

			Quarter ended
			Mar. 31,				Dec. 31,		Sept. 30,		June 30,		Mar. 31,
($ and shares in millions, except per share data)			2018				2017		2017		2017		2017
Book value per share
		Stockholders' equity	$	1,659.8			1,713.0		1,699.4		1,652.6		1,592.6
		Common shares issued and outstanding, at period end	58.7				58.5		58.4		58.4		58.2
		Book value per share	$	28.25			29.28		29.10		28.32		27.34
		Book value per share excluding unrealized gain or loss on fixed income securities	28.19				28.34		27.92		27.25		26.65
Financial results (after-tax)
		Underwriting income	3.7				27.5		21.1		19.7		32.0
		Net investment income	35.8				31.2		29.6		30.3		27.5
		Interest expense	(4.9		)		(4.0	)	(4.0	)	(4.0	)	(4.0	)
		Corporate expense	(7.4		)		(3.6	)	(4.4	)	(5.8	)	(4.4	)
		Net realized and unrealized investment (losses) gains*	(8.3		)		(0.7	)	4.4		1.1		(0.7	)
		Tax reform impact - deferred tax write-off	—				(20.2	)	—		—		—
		Total after-tax net income	18.9				30.2		46.7		41.4		50.4
Return on average equity
		Insurance segments	0.9			%	6.5		5.0		4.9		8.2
		Net investment income	8.5				7.3		7.1		7.5		7.0
		Interest expense	(1.2		)		(0.9	)	(0.9	)	(1.0	)	(1.0	)
		Corporate expense	(1.7		)		(0.9	)	(1.1	)	(1.5	)	(1.1	)
		Net realized and unrealized investment (losses) gains, net of tax	(2.0		)		(0.2	)	1.1		0.3		(0.2	)
		Tax reform impact - deferred tax write-off	—				(4.7	)	—		—		—
		Annualized ROE	4.5				7.1		11.2		10.2		12.9
		Exclude: Net realized and unrealized losses (gains), net of tax	2.0				0.2		(1.1	)	(0.3	)	0.2
		Exclude: Tax reform impact - deferred tax write-off	—				4.7		—		—		—
		Annualized Non-GAAP Operating ROE**	6.5			%	12.0		10.1		9.9		13.1
Debt and total capitalization
	Notes payable:
		1.61% Borrowings from FHLBNY	$	25.0			25.0		25.0		25.0		25.0
		1.56% Borrowings from FHLBNY	25.0				25.0		25.0		25.0		25.0
		1.98% Borrowings from FHLBNY	55.0				—		—		—		—
		3.03% Borrowings from FHLBI	60.0				60.0		60.0		60.0		60.0
		7.25% Senior Notes	49.7				49.7		49.7		49.7		49.7
		6.70% Senior Notes	99.0				99.0		99.0		99.0		99.0
		5.875% Senior Notes	180.5				180.4		180.3		180.2		180.2
	Total debt		494.2				439.1		439.0		438.9		438.8
	Stockholders' equity		1,659.8				1,713.0		1,699.4		1,652.6		1,592.6
	Total capitalization		$	2,154.0			2,152.1		2,138.4		2,091.5		2,031.4
	Ratio of debt to total capitalization		22.9			%	20.4		20.5		21.0		21.6
Policyholders' surplus			$	1,673.8			1,672.9		1,684.4		1,653.2		1,622.3
*		Refer to Page 2 for components of realized and unrealized investment losses and gains.
**		Non-GAAP measure. Refer to Page 14 for definition.
		Note: Amounts may not foot due to rounding.

Page 4

Selective Insurance Group, Inc. & Consolidated Subsidiaries

CONSOLIDATED INSURANCE OPERATIONS

STATEMENT OF OPERATIONS

(Unaudited)

		Quarter ended
		Mar. 31,				Dec. 31,		Sept. 30,		June 30,		Mar. 31,
($ in millions)		2018				2017		2017		2017		2017
Underwriting results
Net premiums written		$	624.6			553.8		604.3		613.8		598.7
Change in net premiums written, from comparable prior year period		4			%	8		4		6		6
Net premiums earned		$	591.8			590.1		572.1		568.0		560.9
Losses and loss expenses incurred		384.9				341.5		344.6		341.6		317.5
Net underwriting expenses incurred		199.7				204.5		194.0		194.2		194.3
Dividends to policyholders		2.4				1.8		1.0		1.9		(0.1	)
GAAP underwriting gain		$	4.7			42.4		32.4		30.3		49.2
Catastrophe losses		$	26.0			2.0		23.7		29.3		12.2
(Favorable) prior year casualty reserve development		(8.0		)		(10.0	)	(9.9	)	(14.3	)	(14.4	)
Underwriting ratios
Loss and loss expense ratio		65.0			%	57.8		60.2		60.2		56.6
Underwriting expense ratio		33.8				34.7		33.9		34.2		34.6
Dividends to policyholders ratio		0.4				0.3		0.2		0.3		—
	Combined ratio	99.2			%	92.8		94.3		94.7		91.2
Catastrophe losses		4.4			pts	0.3		4.1		5.2		2.2
(Favorable) prior year casualty reserve development		(1.4		)	pts	(1.7	)	(1.7	)	(2.5	)	(2.6	)
	Combined ratio before catastrophe losses	94.8			%	92.5		90.2		89.5		89.0
	Combined ratio before catastrophe losses and prior year casualty development	96.2				94.2		91.9		92.0		91.6
Other Statistics
Non-catastrophe property losses		$	105.7			87.1		71.8		73.3		71.4
Non-catastrophe property losses		17.9			pts	14.8		12.6		12.9		12.7
Direct new business		$	128.1			117.6		131.1		136.1		124.7
Note: Amounts may not foot due to rounding.

Page 5

Selective Insurance Group, Inc. & Consolidated Subsidiaries

STANDARD COMMERCIAL LINES

STATEMENT OF OPERATIONS AND SUPPLEMENTAL DATA

(Unaudited)

		Quarter ended
		Mar. 31,				Dec. 31,		Sept. 30,		June 30,		Mar. 31,
($ in millions)		2018				2017		2017		2017		2017
Underwriting results
Net premiums written		$	509.1			424.2		472.1		478.9		483.5
Change in net premiums written, from comparable prior year period		5			%	8		5		7		6
Net premiums earned		$	465.4			461.2		445.3		443.6		438.4
Losses and loss expenses incurred		293.5				258.8		254.9		252.9		241.6
Net underwriting expenses incurred		162.6				163.8		154.0		154.0		154.4
Dividends to policyholders		2.4				1.8		1.0		1.9		(0.1	)
GAAP underwriting gain		$	6.8			36.9		35.3		34.8		42.5
Catastrophe losses		$	19.8			1.9		14.3		17.0		6.9
(Favorable) prior year casualty reserve development		(8.0		)		(13.0	)	(19.9	)	(17.3	)	(16.4	)
Underwriting ratios
Loss and loss expense ratio		63.0			%	56.1		57.3		57.1		55.1
Underwriting expense ratio		35.0				35.5		34.6		34.7		35.2
Dividends to policyholders ratio		0.5				0.4		0.2		0.4		—
	Combined ratio	98.5			%	92.0		92.1		92.2		90.3
Catastrophe losses		4.3			pts	0.4		3.2		3.8		1.6
(Favorable) prior year casualty reserve development		(1.7		)	pts	(2.8	)	(4.5	)	(3.9	)	(3.7	)
	Combined ratio before catastrophe losses	94.2			%	91.6		88.9		88.4		88.7
	Combined ratio before catastrophe losses and prior year casualty development	95.9				94.4		93.4		92.3		92.4
Other Statistics
Non-catastrophe property losses		$	70.8			57.9		49.1		48.2		49.8
Non-catastrophe property losses		15.2			pts	12.5		11.0		10.9		11.4
Direct new business		$	97.9			83.8		96.9		98		89.5
Renewal pure price increases		3.2			%	2.9		2.7		3.1		3.0
Retention		85			%	84		85		83		85
Note: Amounts may not foot due to rounding.

Page 6

Selective Insurance Group, Inc. & Consolidated Subsidiaries

STANDARD COMMERCIAL LINES

GAAP LINE OF BUSINESS RESULTS

(Unaudited)

	Quarter Ended March 31, 2018													Quarter Ended March 31, 2017
	Commercial			Workers	General	Commercial								Commercial		Workers	General		Commercial
($ in millions)	Property			Compensation	Liability	Auto		BOP		Bonds	Other		Total	Property		Compensation	Liability		Auto		BOP	Bonds	Other	Total
Net premiums written	$	85.2		88.9	164.5	129.8		26.7		8.8	5.1		509.1	80.5		91.8	155.1		117.4		26.2	7.8	4.7	483.5
Net premiums earned	80.3			78.8	149.8	118.2		25.6		8.1	4.4		465.4	76.4		79.3	140.0		107.1		24.8	6.5	4.2	438.4
Loss and loss expense ratio	77.1		%	47.9	55.3	78.0		69.5		13.6	(0.4	)	63.0	48.5		68.7	39.4		74.2		57.4	17.5	0.2	55.1
Underwriting expense ratio	38.1			29.3	35.2	33.1		36.4		62.7	59.1		35.0	37.9		28.7	36.1		33.7		38.2	60.7	57.7	35.2
Dividend ratio	0.3			2.0	0.2	0.2		—		—	—		0.5	(0.4	)	1.1	(0.2	)	(0.3	)	—	—	—	—
Combined ratio	115.5		%	79.2	90.7	111.3		105.9		76.3	58.7		98.5	86.0		98.5	75.3		107.6		95.6	78.2	57.9	90.3
Underwriting gain (loss)	$	(12.4	)	16.4	13.9	(13.4	)	(1.5	)	1.9	1.8		6.8	10.7		1.2	34.6		(8.2	)	1.1	1.4	1.8	42.5
Note: Amounts may not foot due to rounding.

Page 7

Selective Insurance Group, Inc. & Consolidated Subsidiaries

STANDARD PERSONAL LINES

STATEMENT OF OPERATIONS AND SUPPLEMENTAL DATA

(Unaudited)

		Quarter ended
		Mar. 31,				Dec. 31,	Sept. 30,	June 30,		Mar. 31,
($ in millions)		2018				2017	2017	2017		2017
Underwriting results
Net premiums written		$	67.9			72.8	81.2	78.1		64.7
Change in net premiums written, from comparable prior year period		5			%	7	7	3		4
Net premiums earned		$	74.3			74.2	72.6	71.7		71.2
Losses and loss expenses incurred		55.4				48.2	42.1	54.7		44.3
Net underwriting expenses incurred		20.3				22.5	22.3	22.7		21.8
GAAP underwriting gain (loss)		$	(1.5	)		3.6	8.2	(5.8	)	5.1
Catastrophe losses		$	6.8			0.7	2.2	9.4		3.9
Unfavorable prior year casualty reserve development		—				3.0	—	3.0		2.0
Underwriting ratios
Loss and loss expense ratio		74.6			%	64.9	58.0	76.3		62.2
Underwriting expense ratio		27.4				30.3	30.7	31.7		30.6
	Combined ratio	102.0			%	95.2	88.7	108.0		92.8
Catastrophe losses		9.2			pts	1.0	3.0	13.0		5.5
Unfavorable prior year casualty reserve development		—			pts	4.0	—	4.2		2.8
	Combined ratio before catastrophe losses	92.8			%	94.2	85.7	95.0		87.3
	Combined ratio before catastrophe losses and prior year casualty development	92.8				90.2	85.7	90.8		84.5
Other Statistics
Non-catastrophe property losses		$	25.6			20.8	19.1	20.0		16.3
Non-catastrophe property losses		34.5			pts	28.0	26.3	27.9		22.9
Direct new business		$	11.8			12.7	13.6	13.2		11.4
Renewal pure price increases		3.8			%	3.7	3.1	2.6		2.7
Retention		85			%	84	84	84		84
Note: Amounts may not foot due to rounding.

Page 8

Selective Insurance Group, Inc. & Consolidated Subsidiaries

STANDARD PERSONAL LINES

GAAP LINE OF BUSINESS RESULTS

(Unaudited)

	Quarter Ended March 31, 2018									Quarter Ended March 31, 2017
	Personal									Personal
($ in millions)	Auto			Homeowners		Other		Total		Auto		Homeowners	Other		Total
Net premiums written	$	40.1		26.3		1.5		67.9		36.7		26.5	1.4		64.7
Net premiums earned	40.4			32.2		1.6		74.3		37.0		32.7	1.6		71.2
Loss and loss expense ratio	71.7		%	81.5		13.2		74.6		76.7		47.4	30.3		62.2
Underwriting expense ratio	34.9			30.0		(213.8	)	27.4		37.0		35.1	(217.6	)	30.6
Combined ratio	106.6		%	111.5		(200.6	)	102.0		113.7		82.5	(187.3	)	92.8
Underwriting (loss) gain	$	(2.7	)	(3.7	)	4.8		(1.5	)	(5.1	)	5.7	4.5		5.1
Note: Amounts may not foot due to rounding.

Page 9

Selective Insurance Group, Inc. & Consolidated Subsidiaries

EXCESS AND SURPLUS LINES

STATEMENT OF OPERATIONS AND SUPPLEMENTAL DATA

(Unaudited)

		Quarter ended
		Mar. 31,				Dec. 31,		Sept. 30,		June 30,	Mar. 31,
($ in millions)		2018				2017		2017		2017	2017
Underwriting results
Net premiums written		$	47.6			56.9		51.0		56.8	50.5
Change in net premiums written, from comparable prior year period		(6		)	%	4		(4	)	6	4
Net premiums earned		$	52.2			54.6		54.2		52.8	51.2
Losses and loss expenses incurred		36.0				34.5		47.6		34.0	31.6
Net underwriting expenses incurred		16.8				18.3		17.7		17.5	18.1
GAAP underwriting gain (loss)		$	(0.6	)		1.9		(11.1	)	1.3	1.6
Catastrophe losses		$	(0.6	)		(0.6	)	7.3		3.0	1.4
Unfavorable prior year casualty reserve development		—				—		10.0		—	—
Underwriting ratios
Loss and loss expense ratio		69.0			%	63.0		87.8		64.4	61.7
Underwriting expense ratio		32.1				33.5		32.6		33.1	35.2
	Combined ratio	101.1			%	96.5		120.4		97.5	96.9
Catastrophe losses		(1.2		)	pts	(1.0	)	13.5		5.7	2.7
Unfavorable prior year casualty reserve development		—			pts	—		18.4		—	—
	Combined ratio before catastrophe losses	102.3			%	97.5		106.9		91.8	94.2
	Combined ratio before catastrophe losses and prior year casualty development	102.3				97.5		88.5		91.8	94.2
Other Statistics
Non-catastrophe property losses		$	9.3			8.5		3.7		5.1	5.3
Non-catastrophe property losses		17.8			pts	15.5		6.8		9.7	10.3
Direct new business		$	18.3			21.2		20.6		24.9	23.8
Overall new/renewal price increases		4.4			%	3.3		3.2		3.7	7.1
Note: Amounts may not foot due to rounding.

Page 10

Selective Insurance Group, Inc. & Consolidated Subsidiaries

EXCESS & SURPLUS LINES

GAAP LINE OF BUSINESS RESULTS

(Unaudited)

	Quarter Ended March 31, 2018							Quarter Ended March 31, 2017
($ in millions)	Casualty			Property		Total		Casualty	Property	Total
Net premiums written	$	34.7		12.9		47.6		36.9	13.6	50.5
Net premiums earned	38.5			13.7		52.2		37.9	13.3	51.2
Loss and loss expense ratio	69.5		%	67.4		69.0		63.8	55.9	61.7
Underwriting expense ratio	31.6			33.7		32.1		34.6	36.9	35.2
Combined ratio	101.1		%	101.1		101.1		98.4	92.8	96.9
Underwriting gain (loss)	$	(0.4	)	(0.2	)	(0.6	)	0.6	1.0	1.6
Note: Amounts may not foot due to rounding.

Page 11

Selective Insurance Group, Inc. & Consolidated Subsidiaries

CONSOLIDATED INVESTMENT INCOME

(Unaudited)

		Quarter ended
		Mar. 31,				Dec. 31,		Sept. 30,		June 30,		Mar. 31,
($ in millions)		2018				2017		2017		2017		2017
Net investment income
Fixed income securities
	Taxable	$	32.4			29.6		29.1		28.4		27.5
	Tax-exempt	9.6				10.2		9.8		9.3		9.4
Total fixed income securities		42.0				39.8		38.9		37.7		36.9
Equity securities		2.0				2.0		1.6		1.4		1.5
Other investments		1.6				3.4		2.7		5.2		1.6
Short-term investments		0.5				0.5		0.4		0.4		0.3
Investment income		46.1				45.6		43.5		44.7		40.2
Investment expenses		(2.9		)		(3.1	)	(3.1	)	(3.3	)	(2.8	)
Investment tax expense		(7.4		)		(11.4	)	(10.9	)	(11.1	)	(10.0	)
Total net investment income, after-tax		$	35.8			31.2		29.6		30.3		27.5
Net realized and unrealized capital (losses) gains
	Fixed income securities	$	(3.3	)		0.4		2.0		2.6		2.0
	Equity securities	8.0				(0.6	)	4.9		0.3		—
	Short-term investments	—				—		—		—		—
	Other investments	—				(0.8	)	—		—		0.5
Realized net gains (losses) on the disposal of securities		4.7				(1.0	)	6.9		3.0		2.4
Other-than-temporary impairment losses		(1.2		)		(0.1	)	(0.1	)	(1.2	)	(3.5	)
Unrealized (losses) gains on equity securities		(14.1		)		—		—		—		—
Total net realized and unrealized capital (losses) gains recognized in net income, before-tax		$	(10.5	)		(1.1	)	6.8		1.7		(1.0	)
Change in unrealized (losses) gains recognized in other comprehensive income, before-tax		$	(80.8	)		(11.3	)	10.0		34.0		27.2
Average investment yields
	Fixed income securities, before-tax	3.2			%	3.1		3.0		3.0		3.0
	Fixed income securities, after-tax	2.7				2.2		2.2		2.2		2.2
	Total portfolio, before-tax	3.0			%	3.0		2.9		3.0		2.8
	Total portfolio, after-tax	2.5				2.2		2.1		2.2		2.0
Effective tax rate on net investment income		17.2			%	26.8		26.8		26.9		26.6
New money purchase rates for fixed income securities, before-tax		3.3				2.9		3.2		3.0		3.1
New money purchase rates for fixed income securities, after-tax		2.6				2.1		2.3		2.2		2.1
Effective duration of fixed income portfolio including short-term (in years)		3.8				3.7		3.6		3.7		3.6
Note: Amounts may not foot due to rounding.

Page 12

Selective Insurance Group, Inc. & Consolidated Subsidiaries

CONSOLIDATED COMPOSITION OF INVESTED ASSETS

(Unaudited)

	Mar. 31,					Dec. 31,		Sept. 30,		June 30,		Mar. 31,
	2018					2017		2017		2017		2017
($ in millions)	Amount		Percent			Amount	Percent	Amount	Percent	Amount	Percent	Amount	Percent
Fixed income securities, at fair value	$	5,184.9	92		%	5,206.6	92	5,201.1	91	5,094.3	93	4,955.4	91
Equity securities, at fair value	168.8		3			182.7	3	175.3	3	161.7	3	154.9	3
Other investments	143.6		2			132.3	2	120.8	2	116.4	2	106.8	2
Short-term investments	183.0		3			165.6	3	216.3	4	133.7	2	247.2	5
Total investments	$	5,680.3	100		%	5,687.1	100	5,713.6	100	5,506.1	100	5,464.3	100
Fixed income portfolio, at carry value
U.S. government obligations	$	50.9	1		%	49.7	1	59.6	1	68.0	1	88.3	2
Foreign government obligations	18.2		—			18.6	—	18.8	—	18.7	—	32.6	1
Obligations of state and political subdivisions	1,343.3		26			1,608.2	31	1,526.6	29	1,458.7	29	1,349.9	27
Corporate securities	1,638.2		32			1,634.4	31	1,812.1	35	1,840.1	36	1,850.2	37
Collateralized loan obligations and other asset-backed securities	794.5		15			795.5	15	754.0	15	702.5	14	678.4	14
Residential mortgage-backed securities	911.5		18			714.9	14	719.2	14	724.0	14	688.6	14
Commercial mortgage-backed securities	426.6		8			383.4	7	308.1	6	279.2	6	263.8	5
Total fixed income securities	$	5,183.2	100		%	5,204.7	100	5,198.4	100	5,091.2	100	4,951.8	100
Weighted average credit quality
Investment grade credit quality	$	5,033.1	97		%	5,055.6	97	5,047.1	97	4,944.2	97	4,807.3	97
Non-investment grade credit quality	151.8		3			151.0	3	154.0	3	150.1	3	148.1	3
Total fixed income securities, at fair value	$	5,184.9	100		%	5,206.6	100	5,201.1	100	5,094.3	100	4,955.4	100
Weighted average credit quality of fixed income portfolio	AA-					AA-		AA-		AA-		AA-
Expected maturities of fixed income securities at carry value
Due in one year or less	$	242.8	5		%	326.9	6	364.9	7	341.0	7	371.4	8
Due after one year through five years	1,958.7		38			2,122.6	41	2,178.3	42	2,124.7	42	2,026.9	41
Due after five years through 10 years	2,745.7		53			2,518.4	48	2,386.0	46	2,388.0	47	2,302.5	47
Due after 10 years	236.0		5			236.8	5	269.3	5	237.6	5	251.0	5
Total fixed income securities	$	5,183.2	100		%	5,204.7	100	5,198.4	100	5,091.2	100	4,951.8	100
Alternative investments	March 31, 2018
							Current
	Number of		Original			Remaining	Market
Strategy	Funds		Commitment			Commitment	Value
Private equity	29		$	210.5		102.9	54.9
Private credit	13		172.3			94.3	38.2
Real assets	10		111.0			35.5	26.1
Total	52		$	493.7		232.7	119.2
Note: Amounts may not foot due to rounding.

Page 13

Selective Insurance Group, Inc. & Consolidated Subsidiaries

RECONCILIATION OF NET INCOME TO NON-GAAP OPERATING INCOME AND CERTAIN OTHER NON-GAAP MEASURES

(Unaudited)

	Quarter ended
	Mar. 31,				Dec. 31,		Sept. 30,		June 30,		Mar. 31,
($ in millions, except per share data)	2018				2017		2017		2017		2017
Reconciliation of net income to non-GAAP operating income
Net income	$	18.9			30.2		46.7		41.4		50.4
Exclude: Net realized (gains) losses and OTTI*	(3.5		)		1.1		(6.8	)	(1.7	)	1.0
Exclude: Net unrealized losses*	14.1				—		—		—		—
Net realized losses (gains), OTTI, and unrealized losses*	10.5				1.1		(6.8	)	(1.7	)	1.0
Exclude: Tax on net realized (losses) gains, OTTI, and unrealized (losses) gains	(2.2		)		(0.3	)	2.4		0.6		(0.4	)
Exclude: Tax reform impact - deferred tax write-off	—				20.2		—		—		—
Non-GAAP operating income	$	27.3			51.2		42.3		40.3		51.1
Reconciliation of net income per diluted share to non-GAAP operating income per diluted share
Net income per diluted share	$	0.32			0.51		0.79		0.70		0.85
Exclude: Net realized (gains) losses and OTTI	(0.06		)		0.02		(0.11	)	(0.03	)	0.02
Exclude: Net unrealized losses	0.24				—		—		—		—
Net realized losses (gains), OTTI, and unrealized losses	0.18				0.02		(0.11	)	(0.03	)	0.02
Exclude: Tax on net realized (losses) gains, OTTI, and unrealized (losses) gains	(0.04		)		(0.01	)	0.04		0.01		(0.01	)
Exclude: Tax reform impact - deferred tax write-off	—				0.34		—		—		—
Non-GAAP operating income per diluted share	$	0.46			0.86		0.72		0.68		0.86
Reconciliation of annualized ROE to annualized non-GAAP operating ROE
Annualized ROE	4.5			%	7.1		11.2		10.2		12.9
Exclude: Net realized (gains) losses and OTTI	(0.8		)		0.3		(1.6	)	(0.4	)	0.3
Exclude: Net unrealized losses	3.3				—		—		—		—
Net realized losses (gains), OTTI, and unrealized losses	2.5				0.3		(1.6	)	(0.4	)	0.3
Exclude: Tax on net realized (losses) gains, OTTI, and unrealized (losses) gains	(0.5		)		(0.1	)	0.5		0.1		(0.1	)
Exclude: Tax reform impact - deferred tax write-off	—				4.7		—		—		—
Annualized non-GAAP operating ROE	6.5			%	12.0		10.1		9.9		13.1
Non-GAAP operating income, non-GAAP operating earnings per diluted share, and non-GAAP operating return on average equity differ from net income, earnings per share, and return on equity, respectively, by the exclusion of after-tax net realized and unrealized gains and losses on investments, if any, and the deferred tax write-off that was recognized in 2017 in relation to tax reform. They are used as important financial measures by management, analysts, and investors, because the realization of investment gains and losses on sales of securities in any given period is largely discretionary as to timing. In addition, these net realized investment gains and losses, the deferred tax write-off, as well as other-than-temporary investment impairments that are charged to earnings, and unrealized gains and losses on equity securities, could distort the analysis of trends. These operating measurements are not intended as a substitute for net income, earnings per share, or return on equity prepared in accordance with U.S. generally accepted accounting principles (GAAP). Reconciliations of net income, earnings per share, and return on equity to non-GAAP operating income, non-GAAP operating earnings per diluted share, and non-GAAP operating return on average equity, respectively, are provided in the tables above.
* Refer to Page 2 for components of realized and unrealized investment losses and gains.
Note: Amounts may not foot due to rounding.

Page 14

Selective Insurance Group, Inc. & Consolidated Subsidiaries

RATINGS AND CONTACT INFORMATION

Address:	As of March 31, 2018
40 Wantage Avenue		A.M. Best	Standard & Poor's	Moody's	Fitch
Branchville, NJ 07890	Financial Strength Ratings:	A	A	A2	A+
Corporate Website:	Long-Term Debt Credit Rating:	bbb+	BBB	Baa2	BBB+
www.Selective.com
Investor Contact:	REGISTRAR AND TRANSFER AGENT
Rohan Pai	EQ Shareowner Services
Senior Vice President	P.O. Box 64854
Investor Relations & Treasurer	St. Paul, MN 55164
Phone: 973-948-1364	866-877-6351
Rohan.Pai@Selective.com
Media Contact:
Jamie M. Beal
Vice President
Director of Communications
Phone: 973-948-1234
Jamie.Beal@Selective.com

Page 15