Selective Insurance Group, Inc'

1
Selective Insurance Group, Inc. Annual Meeting
April 26, 2006
2
Dale A. ThatcherExecutive Vice President,Chief
Financial Officer
3
GAAP Financial Scorecard Year ending December
31, 2005
( in millions)
2005
2004
Change

Net Premiums Written Statutory Combined
Ratio DIS Revenue DIS Return on Revenue Net
A/T Investment Income A/T Yield on Invested
Assets Annualized Return on Equity Diluted Net
Income per Share
7 1.3 14 0.9 16
0.0 0.1 15
1,459 94.6 99 10.0 105
3.5 15.9 4.69
1,365 95.9 86 9.1 91 3.5
15.8 4.07
pts
pts
pts
pts
4
Statutory Combined Ratios Year ending December
31, 2005

95.9
94.6
65.3
63.5
5
Commercial Lines Statutory Combined Ratio

2003
2004
2005
Commercial lines combined ratio below 100 for
eight consecutive quarters
6
Employee Productivity
( in 000s)

7
Invested Assets as of December 31, 2005

• 3.2 billion investment portfolio
• Average AA bond quality
• Over 99 of portfolio investment grade
• 4.3 year duration
• 3.5 after-tax yield on total investment portfolio

8
GAAP Financial Scorecard Quarter ending March
31, 2006
( in millions)
1Q2006
1Q2005
Change

Net Premiums Written Statutory Combined
Ratio DIS Revenue DIS Return on Revenue Net
A/T Investment Income A/T Yield on Invested
Assets Annualized Return on Equity Diluted Net
Income per Share
8.9 0.5 16.1 2.4 14.3
0.1 0.2 11.3
397 93.5 23 6.2 25 3.4
16.3 1.15
432 93.0 27 8.6 28
3.5 16.5 1.28
pts
pts
pts
pts
9
Gregory E. MurphyChairman, President and CEO
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Recognition in the Marketplace

• External Recognition
• Goldman Sachs nationwide independent agent survey
• 1 company for quality of service
• Forbes Platinum 400 Company
• Forbes Best Managed Companies
• Forbes 100 Best Mid-Cap Stocks
• Fortune 1000 Company (no. 898)
• Wards 50 Benchmark Group
• Internal Recognition
• Agency Survey
• 8.9 out of 10 for total agent satisfaction

11
Selectives Franchise Value
Selective Does Everything Joe Harrow,
PresidentMiddle Peninsula Insurance Agency
12
The Selective Advantage

• 2005 commercial lines growth 10 times the SP
  industry estimate
• Franchise value
• 750 agents
• 2 million average premium
• 78 profitable in 2005
• Leading edge technology drives business to
  Selective
• Field model generated 252 million in commercial
  lines new business in 2005
• A.M. Best A Superior rating for 45 consecutive
  years

13
Positioned to Deliver Long-term, Profitable Growth
Selective vs. Benchmarks Total Return as of
December 31, 2005
14
Selective Insurance Group, Inc. Annual Meeting
April 26, 2006