Selective Ins Stock Price, News & Analysis

Selective Insurance Group, Inc. (Nasdaq: SIGI) will release its fourth quarter 2022 financial results on February 2, 2023, after market close. A press release and financial supplement will be available on their website. Additionally, a conference call to discuss these results is scheduled for February 3, 2023, at 10:00 a.m. ET, accessible via webcast on Selective's site, with a replay option available until March 5, 2023.

Selective Insurance highlights the risks associated with holiday decorations in a survey conducted by The Harris Poll, revealing that 97% of Americans who decorate their homes introduce at least one fire hazard. Key hazards include natural Christmas trees (28%), real candles (24%), and tinsel (28%). Additionally, 66% of respondents leave holiday lights on in unoccupied homes, increasing fire risks. The survey was conducted from November 9-11, 2022, among 2,069 U.S. adults, with a margin of error of +/- 2.8 percentage points.

Selective Insurance Group has partnered with One Warm Coat to support the Giving Tuesday movement by providing free winter coats to those in need. Employees will collect coats across the country, and the Selective Insurance Group Foundation is donating $20,000 for this initiative. Since its establishment in 2005, the Foundation has contributed over $6.6 million to various charities, with a focus on local communities. Selective Insurance, a leading insurer rated 'A+' by AM Best, emphasizes community support and volunteerism among its employees.

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” for Selective Insurance Group. The outlook of these ratings is stable, reflecting Selective's strongest balance sheet strength, strong operating performance, and favorable business profile. Profitability has improved due to conservative underwriting and risk mitigation initiatives. Significant credit ratings affirmed include Long-Term IRs on senior unsecured notes, indicating a stable financial outlook for Selective.

Selective Insurance Group reported Q3 2022 results with a Return on Common Equity (ROE) of 7.0% and Non-GAAP Operating ROE at 10.5%. Key highlights include an 11% increase in Net Premiums Written (NPW) to $903.4 million, and an improved GAAP combined ratio of 96.8%. Despite strong premiums, after-tax net investment income fell 31% to $52 million, contributing to a 44% drop in net income per share to $0.66. Book value per share decreased 20% to $36.96. The company remains on track to meet its 2022 ROE target of 11%.

Selective Insurance Group, Inc. (NASDAQ: SIGI) will release its third quarter 2022 financial results on November 2, 2022, after market close. A press release and financial supplement will be available on the Investors page of the company’s website. A conference call to discuss these results is scheduled for November 3, 2022, at 10:00 a.m. ET, which will be webcast live and available for replay until December 2, 2022. Selective operates 10 insurance companies, rated 'A+' by AM Best, offering a range of insurance products through independent agents.

Selective Insurance has announced a new service that will remove personally identifiable information from eligible private passenger vehicles and light-duty trucks after they are declared a total loss. This initiative, introduced during Cybersecurity Awareness Month, aims to protect sensitive data such as GPS addresses and contact information. Vehicles from model year 2012 and newer qualify for this privacy solution. Customers can access a vehicle data removal report through their claims file, reinforcing Selective's commitment to customer data security.

Select Insurance Group, Inc. (Nasdaq: SIGI) will present at the 2022 Keefe, Bruyette & Woods Insurance Conference on September 8, 2022, at 9:50 a.m. (ET). Executives John J. Marchioni and Mark A. Wilcox will lead the presentation, which will be available for live viewing on the company's website. A replay will be accessible until October 8, 2022. Selective Insurance, rated "A+" by AM Best, is known for its property and casualty insurance services and has received multiple accolades for being a top employer.

Selective Insurance Group (NASDAQ: SIGI) reported a net income of $0.61 per diluted share for Q2 2022, down 69% from the previous year, amid a 12% increase in net premiums written to $930.7 million. The GAAP combined ratio was 95.5%, increasing 5.7 points year-over-year due to higher catastrophe losses. After-tax net investment income decreased 16% to $57 million. The book value per share declined 7% to $39.68. Full-year guidance indicates a GAAP combined ratio of 90.5% and after-tax net investment income of $215 million.