• Selective Insurance average return on tangible equity for 2023 was 11.38, a 20.17% decline from 2022.
• Selective Insurance average return on tangible equity for 2022 was 9.47, a 34.64% increase from 2021.
• Selective Insurance average return on tangible equity for 2021 was 14.49, a 50.16% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.