Table of Contents New Jersey 22-2168890 Title of each class Trading Symbol (s) Name of each exchange on which registered Common Stock, par value $2 per share SIGI The Nasdaq Stock Market LLC Depositary Shares, each representing a 1/1,000th interest in a share of 4.60% Non-Cumulative Preferred Stock, Series B, without par value SIGIP The Nasdaq Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

Selective Insurance Group, Inc. (NASDAQ:SIGI) Q2 2024 Earnings Conference Call July 19, 2024 5:00 PM ET Company Participants Brad Wilson - SVP, IR and Treasurer John Marchioni - Chairman, President and CEO Tony Harnett - SVP, CAO and Interim CFO Conference Call Participants Mike Phillips - Oppenheimer Michael Zaremski - BMO Paul Newsome - Piper Sandler Grace Carter - Bank of America Scott Heleniak - RBC Capital Markets Operator Good day, and thank you for standing by. Welcome to Selective's Second Quarter 2 ...

Selective Insurance Group, Inc. (SIGI) reported second-quarter 2024 operating loss of $1.10 per share against the Zacks Consensus Estimate for earnings of $1.56. The company had reported an operating income of 99 cents per share in the prior-year quarter. Behind the Headlines On a year-over-year basis, net premium written (NPW) increased 13% to $1.22 billion, driven by new business growth and effective management of renewal portfolio and growth across all three insurance segments. The figure matched our est ...

Exhibit 99.2 Forward-Looking Statements Factors that could cause our actual results to differ materially from what we project, forecast, or estimate in forward-looking statements include, without limitation: • Challenging conditions in the economy, global capital markets, the banking sector, and commercial real estate, including prolonged higher inflation, could increase loss costs and negatively impact investment portfolios; • Deterioration in the public debt, public equity, or private investment markets t ...

Selective's Board of Directors declared: A GAAP combined ratio of 101.5%, up five points from our prior guidance of 96.5%. Our combined ratio estimate includes net catastrophe losses of 5.5 points, up from prior guidance of 5.0 points. Our combined ratio estimate assumes no additional prior year casualty reserve development; After-tax net investment income of $360 million that includes $32 million from alternative investments; An overall effective tax rate of approximately 21.0%, which assumes an effective ...

BRANCHVILLE, N.J., July 2, 2024 /PRNewswire/ -- Selective Insurance Group, Inc. (Nasdaq: SIGI) will announce its second quarter financial results on Thursday, July 25, 2024, after market close. The press release and financial supplement will be available on the Investors page of Selective's website. A conference call to discuss the results will be held on Friday, July 26, 2024, at 8:00 AM ET. This call will be webcast live and accessible on Selective's website at www.Selective.com. A replay will be availabl ...

With Ms. Sampson's appointment, Selective's Board of Directors will expand from 12 to 13 members before expected retirements. BRANCHVILLE, N.J., July 1, 2024 /PRNewswire/ -- Selective Insurance Group, Inc. (NASDAQ: SIGI) today announced the appointment of Kate Sampson to the Board of Directors, effective July 1, 2024. Brings Over 25 Years of Insurance, Risk Management, and Technology Experience Kate Sampson Named as New Independent DirectorKate Sampson Named as New Independent Director She has served on the ...

Growth Projections The expected long-term earnings growth rate is 16.2%, outperforming the industry average of 10.2%. Image Source: Zacks Investment Research Steady betterment of premiums, improved net investment income and higher other income have resulted in topline improvement. Over the past seven years (2017-2023), total revenues witnessed a CAGR of 8%. Riding on a solid capital position, the company has been hiking dividends, which registered a nine-year (2015- 2023) CAGR of nearly 8.8%. It had $84.2 m ...

Financial Data and Key Metrics Changes - The company reported an operating return on equity (ROE) of 11.7% and a net premium written growth of 16% in the first quarter [25] - The combined ratio was elevated at 98.2%, above the target of 95%, primarily due to $35 million in net unfavorable prior year casualty reserve development [25][47] - Catastrophe losses contributed 5.3 points to the combined ratio, which was 0.8 points better than the first quarter of 2023 [47] - The company experienced a decrease in fully diluted EPS to $1.31, down 11% year-over-year, while non-GAAP operating EPS was $1.33, down 8% [47] Business Line Data and Key Metrics Changes - The Standard Commercial Lines experienced $50 million of unfavorable general liability reserve development, partially offset by $15 million of favorable workers' compensation development [25][47] - The combined ratio for the Excess and Surplus lines was reported at 87.6%, with net premiums written growth of 24% [45] - Personal Lines saw a 17% increase in net premiums written, driven by strong rate increases and larger average policy sizes, although new business premiums declined by 19% [74] Market Data and Key Metrics Changes - Renewal pure pricing for general liability and umbrella increased to 6.5%, up from 5.7% in the previous quarter [26] - Overall renewal pure price was 8.1% in the quarter, up from 7.4% in the fourth quarter of 2023 [45] - The company expects full-year 2024 personalized renewal pure pricing to exceed 20% [74] Company Strategy and Development Direction - The company emphasizes a unique field model that empowers underwriting staff to maintain strong relationships with distribution partners, which is seen as a competitive advantage [27] - Geographic expansion continues to be a strategic focus, with plans to launch in additional states in the coming years [46] - The company aims to achieve a combined ratio target of 95% across its insurance segments while responding to adverse trends in a disciplined manner [25][45] Management's Comments on Operating Environment and Future Outlook - Management highlighted the impact of social inflation on claims severity, indicating that this trend is expected to continue affecting the industry [26][18] - The company acknowledged elevated uncertainty in the loss trend environment but remains confident in its ability to manage pricing and underwriting actions effectively [30][45] - The management anticipates that the general liability pricing will accelerate further in the coming months due to ongoing social inflationary pressures [26] Other Important Information - The company reported a debt-to-capital ratio of 14.3%, well below the internal threshold of 25%, providing financial flexibility for growth initiatives [48] - After-tax net investment income was $86 million, up 17% from the previous year, contributing significantly to ROE [64] Q&A Session Summary Question: Can you break out the cat losses within Standard Commercial? - The company reported $38.5 million of cat losses, with $32.9 million from commercial property, $4.2 million from BOP, and $1.4 million from commercial auto [4] Question: How are you thinking about casualty reinsurance renewals? - Management indicated that they are early in the renewal process and will evaluate pricing and terms before making structural changes [12][14] Question: Is litigation funding impacting claims? - Management acknowledged that while litigation funding is not the primary driver, it does have an impact across various accounts, particularly in states with challenging litigation environments [5][16] Question: What is the outlook for general liability pricing? - Management expects general liability pricing to accelerate further, driven by social inflation and increased claims severity [26][45] Question: How does the company view the current accident year reserves? - The company is reacting to paid data and adjusting reserves based on historical development factors, indicating a proactive approach to reserve management [36][37]

Table of Contents or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____________________________to_____________________________ Commission File Number: 001-33067 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 SELECTIVE INSURANCE GROUP, INC. For the quarterly period ended: March 31, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Exact Name of Registrant ...