Selective Insurance (SIGI) 10-Q 2014 Q3 Quarterly report

Exhibit 11

SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE

Third Quarter 2014	Income		Shares	Per Share
(in thousands, except per share amounts)	(Numerator)		(Denominator)	Amount
Basic EPS:
Net income available to common stockholders	$	53,162	56,382	$	0.94
Effect of dilutive securities:
Stock compensation plans	—		1,024
Diluted EPS:
Net income available to common stockholders	$	53,162	57,406	$	0.93

Third Quarter 2013	Income		Shares	Per Share
(in thousands, except per share amounts)	(Numerator)		(Denominator)	Amount
Basic EPS:
Net income available to common stockholders	$	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

Nine Months ended September 30, 2014	Income		Shares	Per Share
(in thousands, except per share amounts)	(Numerator)		(Denominator)	Amount
Basic EPS:
Net income available to common stockholders	$	100,477	56,250	$	1.79
Effect of dilutive securities:
Stock compensation plans	—		1,036
Diluted EPS:
Net income available to common stockholders	$	100,477	57,286	$	1.75

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