Selective Insurance Group

BofA, KBW: Personal lines growth, strong reinsurance results expected in Q1 earnings

Analysts at Bank of America and KBW are predicting strong first quarter results for reinsurers and improving personal lines results driven by a mild quarter for cat losses, but anticipate commentary among CEOs about weakening casualty trends.

CEO Marchioni: Selective’s expected casualty loss cost trend up 2 pts from a year ago to 8%

The CEO of Selective Insurance has revealed that its overall expected loss trend is now 7 percent compared with 6.5 percent a year ago, while for casualty it has increased 2 points to 8 percent.

Selective share price falls on Q4 $55mn GL reserve strengthening

Investors sent Selective Insurance Group’s share price down 7 percent on Thursday morning after the insurer reported Q4 results that met analysts' expectations but included $55mn of general liability reserve strengthening.

Selective targets E&S growth as it looks to broaden sector distribution

Selective Insurance Group is looking to build upon the recent success of its growing E&S portfolio by expanding distribution, CEO John Marchioni has declared.

Selective eyes further E&S growth after 20% NPW rise in Q2

Selective remains well positioned to take advantage of continued improvements in the E&S market, with the company seeing “strong opportunities” to add to the 20 percent net premium written (NPW) growth in the segment during Q2 2023.

Cats costing $100mn send Selective Q2 CR north of 100%

Selective Insurance Group has told investors its Q2 2023 results will include some $100mn of pre-tax net catastrophe losses, with exposure to those events pushing its combined ratio for the period up to 100.2 percent.

WRB’s Rob Berkley questions regulatory system’s ability to keep up with change

The CEOs of WR Berkley, Selective and USAA at S&P Global Ratings’ Insurance Conference have expressed reservations over the regulatory system’s ability to keep up with the pace of change and allow carriers to make adequate returns on capital, although they also expressed optimism regarding progress in California in recent weeks.

Selective Q1 CR up 2.6 points to 95.7 on increased cats and lower reserve releases

Selective Insurance Group’s combined ratio increased 2.6 points in Q1 2023 to 95.7 percent as it digested increased catastrophe losses and lower prior year favorable casualty reserve development while its operating income went up by 2 percent to $87.6mn.

Selective shares rise after Q4 results, reveals higher cat cover excess and limit

Selective Insurance Group’s share price closed up 6.5 percent on Friday afternoon as investors responded positively to the carrier’s Q4 2022 results, while CFO Mark Wilcox on an analyst call revealed the carrier raised the attachment point and increased the limit on its main property catastrophe reinsurance program at 1 January.

Selective Q4 operating income dips to $89mn while NPW grows 14%

Selective’s Q4 2022 operating income fell $6.0mn year on year to $88.9mn while its net premiums written (NPW) increased 14 percent to $849.7mn as the company also confirmed its previously forecast combined ratio of 94.7 percent.

Selective estimates $47mn cat losses and $11.7mn reinstatement premium in Q4

Selective Insurance Group has announced preliminary fourth quarter 2022 that include $46.7mn of pre-tax catastrophe losses and a 94.7 percent combined ratio that had a 5.2 points hit from cats and a 4.4 point positive benefit from casualty reserve releases.

Selective UW income halves to $30mn as inflation drives non-cat property losses higher

Selective Insurance’s underwriting profits fell to $30mn in the second quarter from $60mn in the prior period, as higher severity on non-cat property losses driven by inflation on car prices, auto repair costs, building materials, and labor, along with a pickup in catastrophe losses, weighed on the insurer’s results.

Selective posts narrow earnings miss as CR increases 3.8 points in Q1

Selective Insurance Group’s Q1 2022 combined ratio increased 3.8 points to 93.1 percent from higher non-catastrophe losses and less favourable prior year casualty reserve development, while operating income dipped by 16.4 percent as the carrier reported earnings that were just short of analysts’ consensus estimate.

Selective ups loss trend to 5% as CEO highlights “less certainty”

Selective Insurance Group has increased the loss cost change it expects by one point to 5 percent, with its president and CEO John Marchioni noting the impact of economic inflation and social inflation.

Selective grows NPW 9% to $745mn in Q4 earnings beat

Selective Insurance Group has reported fourth quarter operating earnings that were down from the prior period but beat analysts’ expectations, in results that included 9 percent growth in net premiums written (NPW) and a 5 point deterioration in the combined ratio.

Selective chair Murphy to depart with CEO Marchioni nominated as successor

Selective Insurance Group veteran Gregory Murphy will not stand for re-election as non-executive chairman next year bringing an end to his 42-year association with the carrier, with the company’s board nominating president and CEO John Marchioni as his successor.

AM Best upgrades Selective to A+ on “strong” profitability

AM Best has upgraded US insurer Selective’s financial strength from A to A+ as it highlighted the “strong profitability” and improved underwriting performance the carrier has reported over the past five years.

Selective beats Wall Street estimates as Q3 operating income increases 12%

Selective Insurance Group finished Q3 2021 with results that comfortably beat Wall Street estimates as operating income increased by 12 percent year on year despite its combined ratio for the period ticking up.

Argo sells contract binding P&C renewal rights to Selective’s E&S unit

Argo Group International Holdings has continued the refocus of its business with a deal to sell the renewal rights of its contract binding P&C business to Mesa Underwriters Specialty Insurance Company (Music), the E&S subsidiary of Selective Insurance Group.

Selective Q2 UW income soars as cat losses drop and NPW increases

Selective Insurance Group posted a significant improvement in its underwriting income in 2021’s second quarter off the back of a significant drop in catastrophe losses and increased net premiums written (NPW).

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