Selective Insurance Q1 net income $1.31/sh, combined ratio 98.2%; raises full-year guidance to 96.5%

SELECTIVE INSURANCE GROUP INC

2024-Q1 EPS reported $1.31 revenue$1,164,959,000

Net income $80.2M ($1.31 diluted EPS); non-GAAP operating income $81.5M ($1.33).
Combined ratio 98.2%, worsened 2.5 pts YoY due to $35M unfavorable prior year casualty reserve development.
NPW up 16% to $1.16B; Standard Commercial renewal pure price +7.6%, stable retention 86%.
After-tax net investment income $85.6M, up 17% YoY; book value per share $46.17 (+2% QoQ).
Raised 2024 GAAP combined ratio guidance to 96.5% from 95.5%; net investment income estimate unchanged at $360M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

SELECTIVE INSURANCE GROUP INC reported the first quarter ended March 31, 2024 results: net income $1.31 per diluted common share.

Period: the first quarter ended March 31, 2024
Net income: $1.31 per diluted common share
Result: reported results

Exact text from the filing

On May 1, 2024, Selective Insurance Group, Inc. (the “Company”) issued a press release announcing results for the first quarter ended March 31, 2024.

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Source: SEC EDGAR

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