earnings
confidence high
sentiment neutral
materiality 0.75
Selective Q1 net income $0.89/diluted share; non-GAAP op. income $1.41; combined ratio 93.1%
SELECTIVE INSURANCE GROUP INC
2022-Q1 EPS reported
$0.89
revenue$846,062,000
- NPW up 11% to $889.8M; E&S segment NPW rose 29%, Standard Commercial Lines up 11%.
- GAAP combined ratio of 93.1% vs. 89.3% a year ago; net catastrophe losses 2.5 pts.
- After-tax net investment income $58.5M, up 4% YoY; alternative investments contributed $15M after-tax.
- Book value per share fell 8% to $42.73; adjusted book value per share up 1% to $43.80.
- Full-year guidance: combined ratio ex-cat 91.0%, after-tax net investment income raised to $205M.