Selective Ins Stock Price, News & Analysis

Selective Insurance Group will present at the 2021 Keefe, Bruyette & Woods Virtual Insurance Conference on September 10, 2021, at 8:50 a.m. (ET). Executives John J. Marchioni and Mark A. Wilcox will lead the presentation, which will be available for live streaming on the company’s website. A replay will be accessible until October 10, 2021. Selective Insurance Group, rated "A" (Excellent) by AM Best, is recognized in various awards, including the Fortune 1000 and as a Great Place to Work® in 2021.

Selective Insurance has launched a new brand campaign titled 'Your Passion, Our Purpose', focusing on customized insurance solutions for business clients. The campaign emphasizes collaboration between Selective's skilled employees and independent agents. Set to debut on August 21, the campaign includes a television commercial featuring various market segments, reflecting the diversity of Selective's clientele. It will be promoted through TV, print, online, and radio, targeting employees, customers, and prospects across the New York tri-state market.

The Selective Insurance Group study reveals a significant 25% increase in major home renovation projects in the first half of 2021 compared to December 2020, with 55% of U.S. homeowners undertaking substantial improvements. The South leads with 57% reporting renovations, followed by the West at 55%, the Midwest at 52%, and the Northeast at 54%. Despite challenges like supply chain delays and rising costs, home improvement activity is strong, with 36% focusing on room renovations and 12% adding new rooms. The study indicates a need for homeowners to update insurance coverage to reflect their property’s enhanced value.

Selective Insurance Group (NASDAQ: SIGI) reported strong Q2 2021 results, with net income per diluted share at $1.98, up 247% year-over-year. Non-GAAP operating income was $1.85, a 363% increase. The annualized non-GAAP operating ROE was 17.1% for the quarter. Net premiums written (NPW) rose 15% to $833.2 million, driven by new business growth and renewal price increases. The combined ratio improved to 89.8%, down 8.6 points. The investments segment contributed significantly to ROE with strong performance. The company is well-positioned for continued growth.

Selective Insurance has launched a new podcast series called Uniquely Small Biz, aimed at small business owners. The podcast features stories from successful entrepreneurs sharing their challenges and achievements. Hosted by Carolyn McArdle, the series encompasses unique insights gathered over 95 years of specializing in small business insurance. The first two episodes spotlight Adam Shapiro, who started Shappy Pretzel Co., and Tobore Oweh, owner of The Petal Effect. The podcast is accessible on major platforms like Apple Podcasts and Spotify.

Selective Insurance Group (NASDAQ: SIGI) is set to release its second quarter 2021 financial results on July 28, 2021, after market close. Following this, a conference call will be held on July 29, 2021, at 10:00 a.m. ET to discuss the results. The call will be available via webcast on Selective's website, along with a press release and financial supplement. A replay will be accessible from July 29 to August 28, 2021. Selective is a leading holding company with an "A" rating from AM Best for its insurance subsidiaries.

Selective Insurance Group reported strong Q1 2021 results, with net income per diluted share of $1.77 and non-GAAP operating income of $1.70. Net premiums written rose 23% to $798.2 million, driven by a 28% increase in commercial lines. The combined ratio improved to 89.3%, reflecting favorable reserve development. The company's robust capital position supports ongoing growth. Full-year guidance was revised, anticipating a GAAP combined ratio of 90% and after-tax net investment income of $195 million.

Selective Insurance announced that 24 employees have received the Certified Praesidium Guardian designation, the largest group in the insurance industry. The certification underscores a commitment to sexual abuse prevention, with an additional 21 employees in training. Since partnering with Praesidium in 2018, Selective has developed a risk management program aimed at preventing abuse in community and public service organizations. The program includes tools and training resources for customers to implement best practices for safeguarding vulnerable populations.