Selective Ins (SIGI) Stock News

Selective Insurance Group, Inc. (NASDAQ: SIGI) reported third quarter 2024 results with net income of $1.47 per diluted common share and non-GAAP operating income of $1.40 per diluted common share. The company achieved a Return on Common Equity (ROE) of 12.6% and a non-GAAP Operating ROE of 12.1%. Key highlights include:

- Net premiums written (NPW) increased 9% from Q3 2023
- GAAP combined ratio was 99.5%, up from 96.8% in Q3 2023
- Net catastrophe losses increased the combined ratio by 13.4 points
- Commercial Lines renewal pure price increases averaged 9.1%
- After-tax net investment income was $93 million, up 16% year-over-year
- Book value per common share increased 9% to $48.82
- Quarterly dividend increased 9% to $0.38 per common share

The company maintained a strong capital position and expanded its Standard Commercial Lines footprint to 35 states. Despite elevated catastrophe losses, Selective reported solid underlying performance, reflecting disciplined underwriting and pricing actions.

Selective Insurance Group, Inc. (Nasdaq: SIGI) has announced its schedule for releasing third quarter 2024 financial results. The company will disclose its earnings on Monday, October 21, 2024, after market close. Following the release, Selective will host a conference call on Tuesday, October 22, 2024, at 8:30 AM ET to discuss the results.

Investors and interested parties can access the press release and financial supplement on the Investors page of Selective's website. The conference call will be webcast live and accessible through www.Selective.com. For those unable to attend the live event, a replay will be available on the website from October 22 to November 21, 2024.

Selective Insurance Group, Inc. (NASDAQ: SIGI) has announced the appointment of Patrick S. Brennan as Chief Financial Officer, effective October 1, 2024. Brennan brings nearly two decades of insurance industry and public company executive experience, most recently serving as Treasurer of The Progressive In his previous role, he oversaw treasury, capital strategy, risk management, and investor relations functions.

John J. Marchioni, Selective's Chairman, President and CEO, expressed excitement about Brennan joining the company, citing his significant experience in insurance and corporate finance as ideal for overseeing the execution of financial priorities supporting long-term strategic objectives. Brennan expressed his honor in joining Selective and his excitement to work with the leadership team to build on the company's strong foundation for continued profitability, growth, and value creation.

With Brennan's appointment, Tony Harnett will continue as Selective's Senior Vice President, Chief Accounting Officer. Marchioni thanked Harnett for his service as interim CFO and his continued leadership.

Selective Insurance Group (Nasdaq: SIGI) has announced that its Chairman, President, and CEO, John J. Marchioni, will present at the 2024 Keefe, Bruyette & Woods Insurance Conference on September 4, 2024, at 11:35 AM ET. This presentation offers investors a valuable opportunity to gain insights into Selective's strategies and performance.

Interested parties can access the live presentation or a recording through the Investors page on www.Selective.com. The recording will be available until October 4, 2024, providing an extended window for stakeholders to review the content. This event underscores Selective's commitment to transparent communication with investors and industry analysts.

Selective Insurance Group (NASDAQ: SIGI) reported challenging Q2 2024 results with a net loss of $1.08 per diluted share and a non-GAAP operating loss of $1.10 per share. The company faced a combined ratio of 116.1%, up 15.9 points year-over-year, primarily due to $176 million in unfavorable prior year casualty reserve development. Despite challenges, net premiums written increased 13% to $1.23 billion, and after-tax net investment income grew 11% to $86 million. Selective is responding with additional price increases, with renewal pure price across all segments at 9.1% in Q2. The company maintains a strong capital position but has revised its 2024 GAAP combined ratio expectation to 101.5%, up from 96.5% previously.

Selective Insurance Group (Nasdaq: SIGI) is set to release its second quarter 2024 financial results on July 25, 2024, after market close. Following the release, a conference call will be held on July 26, 2024, at 8:00 AM ET to discuss the results. Both the press release and the financial supplement will be available on Selective's Investors page. The conference call will be webcast live on the company's website, with a replay available from July 26 to August 23, 2024.

Selective Insurance Group (NASDAQ: SIGI) has appointed Kate Sampson to its Board of Directors, effective July 1, 2024. Ms. Sampson, with over 25 years of experience in insurance, risk management, and technology, has held significant roles at companies like Marsh McLennan, Lyft, and Anthemis Group. She is also the founder of Merinn Advisors and serves on multiple technology firm boards. This move expands Selective's board from 12 to 13 members and aligns with the company's commitment to innovation and strategic growth. Key executives expressed optimism about her contributions to the company's long-term objectives.

Selective Insurance Group, Inc. (NASDAQ: SIGI) reported strong first-quarter results with net income of $1.31 per diluted common share and non-GAAP operating income of $1.33 per diluted common share. The Return on Common Equity (ROE) was 11.5%, and non-GAAP operating ROE was 11.7%. NPW increased by 16%, GAAP combined ratio was 98.2%, after-tax net investment income rose by 17%, and book value per common share increased by 2% to $46.17. Selective demonstrated disciplined underwriting and enterprise risk management, attributing elevated loss trends to social inflation impacts. Despite challenging market conditions, the company remains stable, with profitable growth strategies across insurance segments.

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