Selective Insurance (SIGI) 10-Q 2013 Q3 Quarterly report

Exhibit 11

SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE

Third Quarter 2013	Income		Shares	Per Share
(in thousands, except per share amounts)	(Numerator)		(Denominator)	Amount
Basic EPS:
Net income available to common shareholders	$	32,653	55,746	$	0.59
Effect of dilutive securities:
Stock compensation plans	—		1,154
Diluted EPS:
Net income available to common stockholders	$	32,653	56,900	$	0.57

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

Nine Months ended September 30, 2013	Income			Shares	Per Share
(in thousands, except per share amounts)	(Numerator)			(Denominator)	Amount
Basic EPS:
Net income available to common stockholders	$	82,080		55,577	$	1.48
Net loss from discontinued operations	(997		)	55,577	(0.02		)
Net income available to common stockholders	$	81,083		55,577	$	1.46
Effect of dilutive securities:
Stock compensation plans	—			1,142
Diluted EPS:
Net income from continuing operations	$	82,080		56,719	$	1.45
Net loss from discontinued operations	(997		)	56,719	(0.02		)
Net income available to common stockholders	$	81,083		56,719	$	1.43

Nine Months ended September 30, 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