Apr. 23 at 9:23 PM
$SIGI Selective Insurance reports Q1 adjusted EPS
$1.76, consensus
$1.86
Reports Q1 revenue
$1.29B, consensus
$1.31B. "Our operating ROE of 14.4% for the first quarter was a positive start to the year and our full-year combined ratio guidance remains at 96% to 97%. Total renewal pure price increased 10.3% in the quarter, up from 8.1% a year ago," said John J. Marchioni, Chairman, President and Chief Executive Officer. "Our underwriting portfolio remains stable, and our most profitable segments drove growth.
Excess and surplus lines net premiums written grew by 20% in the quarter, with a 92.5% combined ratio. Standard Commercial Lines, representing 81% of net premiums written, grew 8% in the quarter with a 96.4% combined ratio. In Standard Commercial Lines, quarterly renewal pure pricing was 9.1% with stable retention of 85%. General Liability pricing accelerated further to 12.0%, up from 10.6% in the fourth quarter of 2024 and 6.5% a year ago."
