Item 2.02. Results of Operations and Financial Condition.
On January 28, 2021, Selective Insurance Group, Inc. (the "Company") issued a
press release announcing results for the fourth quarter ended December 31, 2020.
The press release is attached hereto as Exhibit 99.1.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 28, 2021, the Company's Board of Directors (the "Board") appointed
Gregory E. Murphy as Non-Executive Chairperson of the Board, effective February
2, 2021. Mr. Murphy, 65, has been Executive Chairman since February 1, 2020, and
previously was Chairman and Chief Executive Officer of the Company from 2013
until January 31, 2020. He served as Chairman, President, and Chief Executive
Officer of the Company from 2000 to 2013, President and Chief Executive Officer
from 1999 to 2000, President and Chief Operating Officer from 1997 to 1999, and
in other senior executive, management, and operational positions of the Company
from 1980 to 1997. Mr. Murphy is a graduate of Boston College and the Harvard
Business School Advanced Management Program. Mr. Murphy will continue as
Non-Executive Chairperson through the date of the Company's 2021 Annual Meeting
of Stockholders, when he is expected to stand for election by a vote of the
Company's stockholders.
As Non-Executive Chairperson, Mr. Murphy will participate in the Company's
publicly disclosed director compensation plans, receiving (i) an annual $85,000
retainer and an annual $80,000 equity grant on the same terms as other
non-employee directors and (ii) an annual Non-Executive Chairperson fee of
$150,000. Such director compensation plans are described in more detail under
"Director Compensation" in the Company's Definitive Proxy Statement on Schedule
14A filed with the U.S. Securities and Exchange Commission on March 25, 2020.
Item 7.01. Regulation FD Disclosure.
Attached as Exhibit 99.2 is supplemental financial information about the
Company.
The information contained in Item 2.02 and Item 7.01 of this report on Form 8-K,
including the exhibits attached hereto, is being furnished and shall not be
deemed "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that section, nor
shall it be deemed incorporated by reference in any filing under the Securities
Act of 1933, as amended, except as shall be expressly set forth by specific
reference in such filing. The Company makes no admission as to the materiality
of any information in this report or the exhibits attached hereto.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description of Exhibit
99.1 Press Release of Selective Insurance Group, Inc. dated January 28,
2021
99.2 Financial Supplement, Fourth Quarter 2020 and Full Year 2020
104 The cover page from this Current Report on Form 8-K, formatted in Inline
XBRL
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