Selective Ins Stock Price, News & Analysis

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.

Seventy-seven percent of U.S. homeowners plan to vacation between July and December 2022, with 44% traveling for a week or longer, according to a Selective Insurance study. Despite 59% having security systems, only 49% use them when away. Key findings include 68% locking windows, while 61% ask others to check their homes. Younger homeowners (18-44) are more likely to use security systems. The study shows regional differences in vacation plans and security system usage, with a partnership between Selective and SimpliSafe offering security packages to eligible policyholders.

Selective Insurance has partnered with SimpliSafe to enhance home security for its eligible homeowner policyholders. This collaboration allows policyholders in approved states to request a complimentary 7-piece security system, which includes a base station, indoor camera, and sensors for safety. Those who activate monitoring within sixty days will receive a policy discount. This initiative aims to improve customer satisfaction while offering comprehensive protection against common home hazards like theft and fire.

Selective Insurance Group (Nasdaq: SIGI) will release its second quarter 2022 financial results on August 3, 2022, after market close. A conference call to discuss the results is scheduled for August 4, 2022, at 10:00 a.m. ET. This call will be accessible via webcast on Selective's website, where a press release and financial supplement will also be posted. A replay of the call will be available from August 4 through September 3, 2022.

On June 30, 2022, The Institutes announced the appointment of four new members to its Board of Trustees, effective June 15. The appointees are J. Powell Brown, Carl Hess, John J. Marchioni, and Leonid Rasin, each bringing extensive experience in insurance and risk management. Peter Miller, president and CEO, expressed that these members will enhance The Institutes' mission and strategic capabilities. Notably, Marchioni is linked with Selective Insurance Group (NASDAQ: SIGI), Hess with WTW (NASDAQ: WTW), and Brown with Brown & Brown (NYSE: BRO).

According to a survey by Selective Insurance and The Harris Poll, 22% of business owners lack insurance, and 49% of those insured do not understand their coverage. June 28, National Insurance Awareness Day, encourages business owners to review their policies. Key recommendations include working with independent agents, performing annual policy reviews, understanding business exposures, and considering Business Owners Policies (BOPs). Selective Insurance Group, Inc. (Nasdaq: SIGI) offers comprehensive coverage and has received A+ ratings from AM Best.