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.
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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Selective Insurance Group (NASDAQ: SIGI) announced that its CEO, John J. Marchioni, will participate in the 'Middle Market Carrier Strategy' panel at the Bank of America 2022 Insurance Conference. The session is scheduled for February 16, 2022, from 10:15 a.m. to 10:50 a.m. E.T. Investors can listen live via the Selective website. A replay will be available until February 10, 2023. Selective is well-regarded for its property and casualty insurance services, rated 'A+' by AM Best.
Selective Insurance Group reported a 9% increase in net premiums written for Q4 2021, totaling $745.4 million. The GAAP combined ratio stood at 93.1%, while net income per diluted share was $1.59. For the full year, net income per diluted share reached $6.50, with an annualized non-GAAP operating ROE of 14.3%. The company also reported after-tax net investment income of $263 million, a 42% increase year-over-year. Looking ahead, guidance includes a target combined ratio of 91.0% for 2022.
Selective Insurance is committed to enhancing the insurance industry's talent pipeline during February's Insurance Careers Month. Initiatives include the College Competition and Ignite Internship programs, which help attract young professionals. The College Competition connects students with independent insurance agencies, allowing them to manage a simulated insurance agency. The Ignite program, recognized as a top internship, has a strong track record of internship-to-hire conversions. Selective is a leading insurance group, rated 'A+' by AM Best, and has been recognized as a Great Place to Work in 2021.
Selective Insurance Group (NASDAQ: SIGI) will announce its fourth quarter 2021 financial results after market close on February 3, 2022. A conference call to discuss these results is scheduled for February 4, 2022, at 10:00 a.m. ET. Interested parties can access a live webcast on Selective's website. A replay will be available from February 4 through March 6, 2022. Selective is rated 'A+' by AM Best and offers a range of insurance products through independent agents.
Selective Insurance Group (NASDAQ: SIGI) announced that Gregory E. Murphy will not seek re-election as Non-Executive Chairperson at the 2022 Annual Meeting. Murphy, who joined the company in 1980 and served as CEO until 2020, played a pivotal role in increasing market capitalization by over 6.5 times and tripling net premiums. The board has nominated John J. Marchioni, current President and CEO, to succeed him. The company recently received an upgraded 'A+' rating from AM Best, reflecting its strong financial position.
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