Selective Insurance Director Wole Coaxum Resigns, Board Size Fixed at 11.

Wole Coaxum, a director at Selective Insurance Group, has resigned from the Board of Directors effective immediately. The decision to resign relates to other professional responsibilities and not a disagreement with the company. The Board size has been fixed at 11 directors, 10 of whom are independent. Coaxum expressed his appreciation for serving on the Board and praised the company's commitment to policyholders and independent agents.

Selective Insurance Group, Inc. (Nasdaq: SIGI) announced today that Wole Coaxum, a director, has resigned from the Board of Directors effective immediately. Coaxum’s decision to step down is unrelated to any disagreements with the company, and instead stems from other professional responsibilities. With Coaxum’s resignation, the Board size has been fixed at 11 directors, 10 of whom are independent [1].

Coaxum, who has served on the Board for the past five years, expressed his appreciation for the opportunity to serve. He praised Selective’s commitment to policyholders and independent agents, and highlighted the company’s strong position with a focus on talent development and strategic execution. Coaxum is shifting his full attention to Mobility Capital Finance Inc., a company he founded, and expressed confidence in Selective’s team to continue delivering value for shareholders and positively impacting the communities it serves [1].

John J. Marchioni, Chairman, President, and Chief Executive Officer of Selective, extended his gratitude to Coaxum for his significant contributions. Marchioni noted Coaxum’s unique perspective, drawn from his experiences as an executive leader in major insurance and finance companies and as an entrepreneur addressing financially underserved communities. The company respects Coaxum’s need to focus on his own enterprise but will miss his strategic insights [1].

Selective Insurance Group, Inc. is a holding company for 10 property and casualty insurance companies rated "A+" (Superior) by AM Best. Through independent agents, the insurance companies offer standard insurance for commercial and personal risks and specialty insurance for commercial risks. Selective also provides flood insurance through the National Flood Insurance Program's Write Your Own Program. The company’s unique position as both a leading insurance group and an employer of choice is widely recognized, with awards including listing in Forbes Best Midsize Employers and certification as a Great Place to Work® for six consecutive years [1].

Forward-Looking Statements

Certain statements in this report, including information incorporated by reference, are forward-looking statements defined in the Private Securities Litigation Reform Act of 1995 (PSLRA). These statements discuss the company’s intentions, beliefs, projections, estimations, or forecasts of future events and financial performance. They involve uncertainties and known and unknown risks and other factors that may cause actual results, activity levels, or performance to materially differ from those in or implied by the forward-looking statements [1].

References:
[1] https://www.morningstar.com/news/business-wire/20250730362414/selective-director-steps-down-to-focus-on-founder-role
[2] https://www.marketscreener.com/news/selective-director-steps-down-to-focus-on-founder-role-ce7c5fdcd988ff21