Selective(US:SIGI)2025-10-22 20:20Financial Performance - Gross premiums written for Q3 2025 were $1,419.3 million, a decrease of 5.2% from Q2 2025 and an increase of 5.7% year-over-year[8]. - Net premiums written for Q3 2025 were $1,207.9 million, reflecting a 6% increase compared to the same period last year[8]. - Underwriting income for Q3 2025 was $16.7 million, a significant recovery from a loss of $2.4 million in Q2 2025[8]. - Net investment income earned before tax was $138.7 million in Q3 2025, up from $128.0 million in Q2 2025[8]. - Net income available to common stockholders for Q3 2025 was $113.0 million, compared to $83.6 million in Q2 2025, representing a 35.3% increase[8]. - Total revenues for Q3 2025 were $1,360.1 million, up 9.3% from $1,244.3 million in Q3 2024[10]. - Net income available to common stockholders for Q3 2025 was $113.0 million, representing a 25.6% increase compared to $90.0 million in Q3 2024[10]. - Non-GAAP operating income for Q3 2025 was $106.7 million, a 24.5% increase from $85.7 million in Q3 2024[10]. - Total assets at the end of Q3 2025 reached $14,980.4 million, an increase from $14,468.4 million in Q2 2025[8]. - Total liabilities as of September 30, 2025, were $11,490.4 million, compared to $10,305.3 million in Q3 2024, indicating an increase of 11.5%[12]. Underwriting Performance - The GAAP combined ratio improved to 98.6% in Q3 2025, down from 100.2% in Q2 2025, indicating better underwriting performance[8]. - The loss and loss expense ratio decreased to 67.9% in Q3 2025, compared to 69.3% in Q2 2025, reflecting improved claims management[8]. - The combined ratio improved to 98.6% in Q3 2025 from 100.2% in Q2 2025, indicating better underwriting performance[18]. - The combined ratio for Q3 2025 was 101.1%, compared to 99.2% in Q3 2024, indicating a deterioration in underwriting performance[21]. - The underwriting income for the quarter ended September 30, 2025, showed a loss of $20.7 million, an improvement from a loss of $51.8 million in the same quarter of 2024[24]. - The combined ratio for the quarter ended September 30, 2025, was 106.6%, down from 117.6% in the prior year, indicating improved operational efficiency[24]. - The loss and loss expense ratio for the quarter was 76.3%, a decrease from 88.1% in the same quarter of 2024, suggesting better claims management[24]. Investment Performance - Net investment income for Q3 2025 was $110.0 million, up from $93.4 million in Q3 2024, reflecting an increase of 17.7%[15]. - The company reported net realized and unrealized gains of $8.1 million in Q3 2025, compared to losses of $5.4 million in Q3 2024[10]. - Total net investment income after-tax for the quarter ended September 30, 2025, was $110.0 million, up from $93.4 million in the same quarter of 2024, marking an increase of 17.7%[38]. - The total investment income for the year-to-date period ending September 30, 2025, was $403.7 million, compared to $349.5 million for the same period in 2024, reflecting a growth of 15.5%[38]. - The average investment yield for total portfolio after-tax was 4.1% for the quarter ended September 30, 2025, compared to 4.0% in the same quarter of 2024, showing stable investment performance[38]. Shareholder Returns - Dividends paid per common share remained stable at $0.38 for Q3 2025, consistent with the previous quarter[8]. - Book value per common share increased to $54.46 as of September 30, 2025, from $52.09 in Q2 2025[48]. - Adjusted book value per common share rose to $55.83, up from $54.48 in Q2 2025[48]. - The company reported a return on equity (ROE) of 14.0% for Q3 2025, up from 10.7% in Q2 2025[48]. Business Growth and Market Position - User base grew to 10 million active users, a 20% increase compared to the previous quarter[54]. - The company expects Q4 2023 revenue guidance of $2.8 billion, indicating a 12% growth from Q3 2023[54]. - New product launch contributed $300 million in revenue, accounting for 12% of total sales in the quarter[54]. - Market expansion efforts in Europe resulted in a 25% increase in sales, contributing an additional $500 million[54]. - The company completed a strategic acquisition for $1 billion, expected to enhance market share by 5%[54]. - Customer retention rate improved to 85%, up from 80% in the previous quarter[54].