Selective Insurance Group, Inc. (SIGI) Q3 2023 Earnings Call Transcript

Selective Insurance Group, Inc. (NASDAQ:SIGI) Q3 2023 Earnings Conference Call November 2, 2023 11:00 AM ET

Company Participants

Brad Wilson - Senior Vice President, Investor Relations and Treasurer
John Marchioni - President and Chief Executive Officer
Mark Wilcox - Executive Vice President and Chief Financial Officer

Conference Call Participants

Grace Carter - Bank of America Merrill Lynch
Andrew Lambrecht - Piper Sandler
Robert Farnam - Janney Montgomery Scott LLC

Operator

Good day, everyone. Welcome to Selective Insurance Group's Third Quarter 2023 Earnings Call. At this time, for opening remarks and introductions, I would like to turn the call over to Senior Vice President, Investor Relations and Treasurer, Brad Wilson.

Brad Wilson

Thanks, and good morning. We are simulcasting this call on our website, selective.com, and a replay will be available until December 1. We use three measures to discuss our results and business operations. First, we use GAAP financial measures reported in our annual, quarterly and current reports filed with the SEC. Second, we use non-GAAP operating measures, which we believe make it easier for investors to evaluate our insurance business.

Non-GAAP operating income is net income available to common stockholders, excluding the after-tax impact of net realized gains or losses on investments and unrealized gains or losses on equity securities. Non-GAAP operating return on common equity is non-GAAP operating income divided by average common stockholders' equity.

Adjusted book value per common share differs from book value per common share by excluding total after-tax unrealized gains and losses on investments included in accumulated other comprehensive loss or income. GAAP reconciliations to any referenced non-GAAP financial measures are in our supplemental investor package found on the Investors page of our website.

Third, we make statements and projections about our future performance. These are forward-looking statements under the Private Securities Litigation Reform Act of