(RTTNews) - Selective Insurance Group, Inc. (SIGI) on Thursday reported a sharp increase in profit for the second quarter, driven by stronger underwriting results and higher investment income.
Net income increased to $127.1 million or $2.11 per share from $83.6 million or $1.36 per share a year earlier. Operating income rose 46% to $117.6 million or $1.95 per diluted share, compared to $80.3 million or $1.31 per share last year.
Net premiums written declined 5% to $1.22 billion, reflecting lower Standard Commercial Lines premiums, while net premiums earned increased 2% to $1.22 billion. Total revenue rose 5% to $1.39 billion.
The combined ratio improved to 98.0% from 100.2% a year earlier, as lower catastrophe and non-catastrophe property losses offset higher current-year casualty loss costs.
After-tax net investment income increased 18% to $119.2 million, supported by higher portfolio yields, while book value per common share rose 2% during the first half of 2026.
The board declared a quarterly common dividend of $0.43 per share, payable September 1, 2026, to shareholders of record on August 17, 2026.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
