Core Viewpoint - Selective Insurance reported mixed results for Q3 2025, missing earnings estimates but showing strong year-over-year growth in operating income and total revenues [2][3]. Financial Performance - Operating income for Q3 2025 was $1.75 per share, missing the Zacks Consensus Estimate by 4.9%, but increased by 25% year over year [2]. - Total revenues reached $1.4 billion, an 8.9% increase from the previous year, driven by higher net premiums written and net investment income [3]. - Net premiums written increased by 4% year over year to $1.2 billion, with average renewal pure price decreasing by 90 basis points to 9.6% [3]. - Net investment income rose by 18% year over year to $110 million [4]. - Net catastrophe losses were $24.9 million, significantly lower than the previous year's loss of $148.8 million [4]. - Total expenses increased by 7.7% year over year to $1.2 billion, primarily due to higher loss and loss expenses [5]. Segmental Results - Standard Commercial Lines' net premiums written increased by 4% year over year to $940.8 million, with a combined ratio of 101.1 [6]. - Standard Personal Lines' net premiums written decreased by 6% year over year to $104.2 million, with a combined ratio improving to 110.1 [7]. - Excess & Surplus Lines' net premiums written increased by 14% year over year to $162.9 million, with a combined ratio improving to 76.2 [8]. Financial Update - Total assets at the end of Q3 2025 were $15 billion, an 11% increase from December 2024 [10]. - Long-term debt surged by 78% to $902.3 million, with a debt-to-total capitalization ratio of 20.5% [10]. - Adjusted book value per share increased by 12% year over year to $54.46 [10]. - Operating return on common equity was 13.2%, up 110 basis points year over year [10]. Shareholder Returns - The company repurchased $36 million worth of shares in Q3 2025 [11]. - A quarterly cash dividend of 43 cents per share was authorized, marking a 13% increase and the 12th consecutive annual increase [11]. - A new share repurchase program was authorized for up to $200 million, effective from October 27, 2025 [12]. Guidance - The company estimates a GAAP combined ratio of 97% to 98% for 2025 [13]. - After-tax net investment income is estimated at $420 million, up from previous guidance of $415 million [13]. Market Position - Selective Insurance has a Zacks Rank 3 (Hold), indicating an expectation of an in-line return in the coming months [16]. - The stock has a Growth Score of B, a Momentum Score of F, and a Value Score of A, placing it in the top 20% for value investors [15].

Core Insights - Selective Insurance has announced the retirement of Vincent Senia from his position as Executive Vice President & Chief Actuary [1] Company Summary - Vincent Senia has been a key figure in the company, serving as Executive Vice President & Chief Actuary [1] - The retirement announcement indicates a transition in leadership within Selective Insurance, which may impact its actuarial strategies and overall operations [1]

Core Viewpoint - Selective Insurance Group, Inc. has appointed Julie Parsons as an Independent Director to its Board, effective November 3rd, 2025, enhancing the board's expertise in the insurance sector [1][2]. Group 1: Board Composition - The Board of Directors now consists of 12 members, with 11 being independent directors following the appointment of Parsons [2]. Group 2: Julie Parsons' Background - Julie Parsons is an industry veteran with over 30 years of experience at Allstate Corporation, where she held various senior roles, including Executive Vice President and Chief Operating Officer for Property and Liability Insurance [2][3]. - Her career began as an actuarial analyst, and she progressed through multiple senior product management positions, ultimately becoming Allstate's first VP, Chief Actuary [3]. Group 3: Strategic Impact - John J. Marchioni, Chairman, President, and CEO of Selective, expressed that Parsons' operational experience in both commercial and personal lines, along with her product and actuarial expertise, will significantly benefit the company as it pursues its long-term objectives [4]. - Parsons emphasized her excitement about joining the Board and her commitment to guiding Selective's growth and delivering sustainable value for shareholders and stakeholders [5].

Core Insights - Brennan Patrick Sean, the Executive Vice President and CFO of Selective Insurance Group, purchased 2,700 shares valued at approximately $205,700 on October 24, 2025, increasing his direct ownership to 17,948 shares, valued at around $1.39 million [1][2][3] Transaction Summary - The transaction involved 2,700 shares traded at a price of $76.17 per share, resulting in a total transaction value of approximately $205,700 [2] - Post-transaction, Sean's direct ownership represents about 0.03% of the outstanding shares [3] Historical Activity - Between October 3, 2024, and October 24, 2025, Sean completed four reportable transactions, all net purchases, accumulating an additional 5,700 shares, which is a 46.54% increase in direct holdings over that period [4] Market Context - The shares were purchased at approximately $76.17, which is about 0.7% above the market price of $75.61 as of October 28, 2025. The shares have seen a total return decline of 16.0% over the year ending October 28, 2025 [5] Company Overview - Selective Insurance Group reported a total revenue of $5.22 billion and a net income of $406.67 million for the trailing twelve months (TTM) [7] - The company has a dividend yield of 1.65% and experienced a 1-year price change of -15.95% as of October 24, 2025 [7] Business Operations - Selective Insurance Group provides property, casualty, and flood insurance products, along with investment management services, targeting commercial, personal, and excess & surplus lines [8][9] - The company generates revenue primarily from insurance premiums and investment income from its portfolio [8] Recent Performance - In the third quarter of 2025, Selective Insurance Group reported a 4% year-over-year increase in net premiums written, with an improvement in the combined ratio from 99.5% to 98.6% [10] - Management anticipates further improvement in the combined ratio, projecting a midpoint of 97.5% and a return on equity of approximately 14% for the full year [11] Dividend Growth - Selective Insurance has increased its quarterly dividend by 13% this year, with long-term investors seeing a 72% rise in quarterly payouts over the past five years [12]

Financial Performance - Revenues for Q3 2025 reached $1,360,110, a 9% increase from $1,244,306 in Q3 2024[85] - After-tax net investment income rose to $109,967, an 18% increase compared to $93,379 in Q3 2024[85] - Net income available to common stockholders for Q3 2025 was $113,040, up 26% from $89,978 in Q3 2024[85] - The company reported a net income of $115,340 for Q3 2025, a 25% increase from $92,278 in Q3 2024[85] - Diluted net income per share for Q3 2025 was $1.85, a 26% increase from $1.47 in Q3 2024[85] - Non-GAAP operating income for Q3 2025 was $106,675, a 24% increase from $85,720 in Q3 2024[86] - For the first nine months of 2025, the company reported an ROE of 13.0% and a non-GAAP operating ROE of 12.6%, exceeding the 12% target[88] Underwriting Performance - The combined ratio improved to 98.6% in Q3 2025 from 99.5% in Q3 2024, reflecting better underwriting performance[85] - The combined ratio improved to 98.6% in Q3 2025, down from 99.5% in Q3 2024, primarily due to lower catastrophe losses and improved underwriting results[91] - The company expects a GAAP combined ratio between 97% and 98% for the full year 2025, including net catastrophe losses of four points[90] - The combined ratio for Q3 2025 was 101.1%, an increase of 1.9 points compared to 99.2% in Q3 2024[101] - The combined ratio improved to 110.1 in Q3 2025 from 122.1 in Q3 2024, and to 99.9 from 115.2 for the first nine months[124] Premiums and Growth - The net premiums written (NPW) grew by 4% in Q3 2025 and 6% in the first nine months of 2025, supported by renewal pure price increases of 9.9%[91] - Direct new business premiums for Q3 2025 were $146.6 million, a 5% increase from $139.2 million in Q3 2024[102] - NPW for Commercial Automobile increased by 4% in Third Quarter 2025 and 6% in Nine Months 2025, driven by renewal price increases and lower retention[115] - NPW for Commercial Property grew by 7% in Third Quarter 2025 and 8% in Nine Months 2025, benefiting from renewal price increases and exposure growth[119] - NPW for Workers Compensation decreased by 7% in Third Quarter 2025 and 8% in Nine Months 2025, attributed to declines in renewal pure price and direct new business[121] Investment Performance - Total invested assets increased by $1.4 billion to $11,051,525, reflecting a 15% growth compared to December 31, 2024[141] - Net unrealized losses on fixed income securities decreased by 67% to $(104,853) from $(316,796) year-over-year[141] - Net investment income earned after tax rose by 18% to $109,967 for Q3 2025 compared to $93,379 in Q3 2024[142] - The annualized after-tax yield on the investment portfolio improved to 4.1% for Q3 2025, up from 4.0% in Q3 2024[142] - Net unrealized gains on equity securities increased by 224% to $7,802 in the third quarter of 2025[143] Capital Management - As of September 30, 2025, the company reported GAAP stockholders' equity of $3.5 billion and statutory surplus of $3.4 billion, with total debt of $902.3 million, resulting in a debt-to-capital ratio of 20.5%[164] - The company issued $400 million of 5.90% Senior Notes due 2035, generating net proceeds of $395.9 million, which includes a $200 million capital contribution to the Insurance Subsidiaries[159] - The company repurchased 698,312 shares of common stock for $55.6 million at an average price of $79.60 per share, with $19.9 million remaining under the share repurchase program as of September 30, 2025[160] - A quarterly cash dividend of $0.43 per common share was declared, representing a 13% increase, payable on December 1, 2025[161] Loss and Expense Management - Current year casualty loss costs increased by 24% in Q3 2025 compared to Q3 2024, totaling $584.5 million[93] - The loss and loss expense incurred increased by 11% to $657.9 million in Q3 2025, with a total of $1.91 billion for the nine months ended September 30, 2025[103] - Current year casualty loss costs increased by 30% in Q3 2025 compared to Q3 2024, driven by higher loss trend expectations[132] - The underwriting expense ratio increased by 0.4 points for the nine months ended September 30, 2025, primarily due to higher profit-based compensation[100] Technology and Innovation - The company is actively investing in technology to enhance underwriting scalability and claims outcomes, including the development of artificial intelligence use cases[90] Market Conditions - The company maintains strong ratings from major agencies, including an A+ from AM Best and Fitch, with a stable outlook[175]

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Core Insights - Selective Insurance Group (SIGI) reported third-quarter 2025 operating income of $1.75 per share, missing the Zacks Consensus Estimate by 4.9%, but reflecting a 25% year-over-year increase [1][9] - The company's total revenues reached $1.4 billion, an 8.9% increase from the previous year, driven by higher net premiums written and net investment income, surpassing the Zacks Consensus Estimate by 0.4% [2][9] Financial Performance - Net premiums written (NPW) increased 4% year-over-year to $1.2 billion, supported by renewal pure price increases, although the average renewal pure price contracted by 90 basis points to 9.6% [2][3] - Net investment income rose 18% year-over-year to $110 million, while net catastrophe losses narrowed to $24.9 million from $148.8 million in the prior year [3][9] - Underwriting income surged more than threefold year-over-year to $16.7 million, with a combined ratio of 98.6, improving by 90 basis points from the previous year [3] Expense Overview - Total expenses increased 7.7% year-over-year to $1.2 billion, primarily due to higher loss and loss expenses incurred [4] Segment Analysis - Standard Commercial Lines' NPW rose 4% year-over-year to $940.8 million, with a combined ratio deteriorating by 190 basis points to 101.1 [5] - Standard Personal Lines' NPW decreased 6% year-over-year to $104.2 million, with a significant improvement in the combined ratio by 1200 basis points to 110.1 [6] - Excess & Surplus Lines' NPW increased 14% year-over-year to $162.9 million, with a combined ratio improving by 700 basis points to 76.2 [7] Shareholder Returns - The board raised the dividend by 13% to 43 cents per share, marking the 12th consecutive annual increase, with a new $200 million share repurchase program authorized [9][11][12] Financial Position - As of the end of Q3 2025, total assets stood at $15 billion, an 11% increase from December 2024, while long-term debt surged 78% to $902.3 million [10] - Adjusted book value per share increased 12% year-over-year to $54.46, with an operating return on common equity of 13.2%, up 110 basis points [10] Future Guidance - SIGI estimates a GAAP combined ratio of 97% to 98% and an after-tax net investment income of $420 million for the upcoming period [13]

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Core Insights - Selective Insurance Group, Inc. (SIGI) is a significant player in the property and casualty insurance sector, offering a variety of insurance products and services to individual and commercial clients [1] Financial Performance - For the quarter ending October 22, 2025, SIGI reported an earnings per share (EPS) of $1.75, which was below the estimated $1.85, resulting in a negative surprise of 4.89% [2][5] - The company's revenue for the quarter was approximately $1.21 billion, which is a 9.1% increase from the previous year's revenue of $1.35 billion, although it fell short of the estimated $1.35 billion [3][5] Financial Ratios - SIGI has a price-to-earnings (P/E) ratio of 12.97, indicating a moderate market valuation of its earnings [4][5] - The price-to-sales ratio stands at 0.97, and the enterprise value to sales ratio is 1.14, suggesting a balanced valuation relative to revenue [4] - The enterprise value to operating cash flow ratio is 4.99, reflecting a reasonable valuation compared to cash flow [4] - The company maintains a conservative approach to leverage, as indicated by a debt-to-equity ratio of 0.27 [4][5]

Core Insights - Selective Insurance reported revenue of $1.35 billion for the quarter ended September 2025, reflecting a year-over-year increase of 9.1% and a slight revenue surprise of +0.42% over the Zacks Consensus Estimate [1] - The company's EPS for the quarter was $1.75, up from $1.40 in the same quarter last year, although it fell short of the consensus estimate of $1.84, resulting in an EPS surprise of -4.89% [1] Financial Performance Metrics - Underwriting expense ratio was reported at 30.6%, better than the average estimate of 31.1% from four analysts [4] - Combined ratio stood at 98.6%, slightly worse than the average estimate of 97.7% from four analysts [4] - Loss and loss expense ratio was 67.9%, compared to the estimated 67.1% by four analysts [4] - Standard Commercial Lines reported a combined ratio of 101.1%, worse than the estimated 98.8% [4] - Standard Personal Lines had a combined ratio of 110.1%, better than the estimated 110.8% [4] - Excess and Surplus Lines reported a combined ratio of 76.2%, significantly better than the estimated 86.3% [4] Revenue Breakdown - Net premiums earned in Standard Personal Lines were $101.5 million, below the average estimate of $103.98 million, representing a year-over-year decline of -5.6% [4] - Net premiums earned in Standard Commercial Lines were $947.3 million, exceeding the average estimate of $940.84 million, with an increase of +8.2% year-over-year [4] - Net investment income earned was $138.7 million, slightly above the average estimate of $137.71 million, reflecting a year-over-year increase of +17.7% [4] - Net premiums earned in Excess and Surplus Lines were $155.9 million, slightly below the average estimate of $156.68 million, with a year-over-year increase of +20.6% [4] - Total net premiums earned were reported at $1.2 billion, matching the average estimate, with a year-over-year increase of +8.3% [4] - Other income was reported at $8.7 million, below the average estimate of $9.67 million, representing a year-over-year decline of -2.3% [4] Stock Performance - Shares of Selective Insurance have returned +7.2% over the past month, outperforming the Zacks S&P 500 composite, which changed by +1.1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]