Selective Insurance Group, Inc. reported strong first quarter 2025 financial results, with net income per diluted common share and non-GAAP operating income per diluted common share both at $1.76. The company achieved a return on common equity and non-GAAP operating ROE of 14.4%.
The combined ratio improved by 2.1 points from a year ago to 96.1%, reflecting lower unfavorable prior year casualty reserve development, reduced net catastrophe losses, and decreased non-catastrophe property losses. Net premiums written grew 7% from a year ago, driven by a 10.3% increase in overall renewal pure price.
After-tax net investment income increased 12% from the prior year to $96 million, contributing 12.8 points to annualized ROE. General Liability pricing accelerated further to 12.0%, up from 10.6% in the fourth quarter of 2024.
The company repurchased 233,611 shares of common stock for $19.4 million during the first quarter, with $56.1 million remaining under its existing authorization. Selective's full-year combined ratio guidance for 2025 remains at 96% to 97%.
In February, Selective completed a $400 million senior note issuance, which enhanced its financial flexibility. These proceeds are being used for general corporate purposes, including supporting organic growth, which is a primary method for long-term value creation.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.