Welcome to our dedicated page for Selective Insurance Group news (Ticker: SIGI), a resource for investors and traders seeking the latest updates and insights on Selective Insurance Group stock.
Selective Insurance Group, Inc. reports developments in property and casualty insurance through a holding-company structure that includes 10 insurance subsidiaries. The companies distribute standard commercial and personal insurance through independent agents, write specialty commercial insurance, and offer flood insurance through the National Flood Insurance Program's Write Your Own Program.
Recurring SIGI news centers on quarterly operating results, net premiums written, renewal pricing, retention, combined ratios, catastrophe losses, reserve development, ROE, book value, dividends and share repurchases. Updates also include AM Best credit-rating actions, executive and board changes, investor conference presentations, and strategy across Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines and Investments.
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.
Selective Insurance conducted a study revealing that only 43% of U.S. business owners have raised their insurance limits in response to inflation. The survey, conducted by The Harris Poll among 303 business owners, highlights a lack of understanding, with 38% unaware of their coverage scope and 22% without insurance. Selective's Business Owners Policy (BOP) addresses inflation-driven construction costs, potentially aiding businesses in maintaining adequate coverage. The study underscores the importance of consulting with agents for proper insurance assessment.
Selective Insurance Group (NASDAQ: SIGI) reported robust financial results for Q1 2022, with a Return on Common Equity (ROE) of 8.1% and a Non-GAAP Operating ROE of 12.8%. Net premiums written increased by 11% to $889.8 million, while the GAAP combined ratio was a profitable 93.1%. After-tax net investment income rose 4% to $59 million. Despite an 8% decline in book value per share to $42.73, the company remains confident in its growth strategy amidst financial market volatility. Strategic priorities include maintaining strong underwriting discipline and generating sustainable returns.
Selective Insurance Group, Inc. (Nasdaq: SIGI) will release its first quarter 2022 financial results after market close on May 4, 2022. A conference call is scheduled for May 5, 2022, at 10:00 a.m. (ET) to discuss these results. The call will be available via webcast on Selective's website. A press release and financial supplement will be published on the company’s Investors page post-release. A replay of the call will be accessible from May 5 through June 4, 2022.
Selective provides property and casualty insurance through a network of independent agents.
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