• Selective Insurance average operating margin for 2023 was 10.38%, a 1.89% decline from 2022.
• Selective Insurance average operating margin for 2022 was 10.58%, a 35.33% decline from 2021.
• Selective Insurance average operating margin for 2021 was 16.36%, a 57.16% decline from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.