Selective Ins Stock Price, News & Analysis

Selective Insurance Group has launched its annual College Competition, engaging students from eight universities to run virtual insurance agencies. The initiative aims to provide students hands-on experience in the insurance industry, mentorship from professionals, and insights into real-world business challenges. The competition includes teams from universities like Appalachian State and Temple University, with guidance from various independent agents. Notably, the event has expanded to include new schools and mentors, enhancing networking and career opportunities for participants.

Selective Insurance Group (NASDAQ: SIGI) reported strong financial results for Q4 2020, achieving net income of $2.10 per diluted share and a non-GAAP operating income of $1.84 per share. The company noted an 18% return on equity and a combined ratio of 88.1%. Despite challenges from COVID-19, Selective achieved 10% growth in commercial lines premiums and continued its successful relationship with distribution partners. The Board authorized a new $100 million share repurchase program following a $200 million preferred stock offering.

Selective Insurance Group, Inc. (NASDAQ: SIGI) will release its fourth quarter 2020 financial results after market close on January 28, 2021. A conference call is scheduled for January 29, 2021 at 10:00 a.m. ET to discuss these results. The call can be accessed live via Selective's website, and a press release along with a financial supplement will be available on the Investors page post-release. A recording of the call will be accessible from January 29 through February 28, 2021.

Selective Insurance Group announced a new $100 million share repurchase program aimed at enhancing shareholder value. The Board of Directors emphasizes confidence in the company's long-term financial outlook, supported by strong earnings growth. The program allows for flexibility in execution, with no set expiration date, and shares may be repurchased through various methods depending on market conditions. This initiative reflects the company's commitment to returning value to its shareholders while maintaining investment in business operations.

Selective Insurance Group has priced an underwritten public offering of 8 million depositary shares, each representing a 1/1,000th interest in its 4.60% Non-Cumulative Preferred Stock, Series B, totaling $200 million. The offering will close on approximately December 9, 2020. Proceeds from the offering are intended for general corporate purposes, including potential stock repurchases. The depositary shares will list on Nasdaq under SIGIP. Wells Fargo Securities, BofA Securities, and RBC Capital Markets serve as joint book-running managers.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of 'a+' for the pooled members of Selective Insurance Group (SIGI). The outlook for these ratings is positive, reflecting Selective's strong balance sheet and adequate operating performance. The group aims to improve underwriting results in its commercial auto and excess lines through targeted initiatives. Risk-adjusted capitalization is assessed as strongest, despite exposure to catastrophe losses.

Selective Insurance Group, Inc. (NASDAQ: SIGI) reported a strong third quarter 2020, with net premiums written (NPW) increasing by 6% to $719.5 million, driven by an 8% growth in standard commercial lines. The GAAP combined ratio remains healthy at 97.0%, despite $80 million in catastrophe losses. Net income per diluted share rose 25% to $1.16, while non-GAAP operating income per diluted share increased by 9% to $1.06. The company declared a 9% increase in quarterly cash dividends to $0.25 per share, payable December 1, 2020, reflecting positive cash flow management.