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]