Selective Insurance Q2 Profit Jumps
(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.
