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 | ||||