Selective Insurance Group, Inc. (NASDAQ: SIGI) has reported its financial results for the second quarter ended June 30, 2025. The company achieved a net income per diluted common share of $1.36 and non-GAAP operating income per diluted common share of $1.31. Selective's return on common equity (ROE) was 10.7%, with non-GAAP operating ROE at 10.3%.
In the second quarter of 2025, the net premiums written (NPW) increased by 5% from the same period in 2024. The GAAP combined ratio was reported at 100.2%, a significant improvement from 116.1% in the second quarter of 2024. The commercial lines renewal pure price increases averaged 8.9%, up from 7.9% in the second quarter of 2024. After-tax net investment income saw a substantial 18% increase from the second quarter of 2024, reaching $101 million. Moreover, the book value per common share increased by 3%, reaching $52.09, and the adjusted book value per common share increased by 2% from the previous quarter, reaching $54.48.
The company's net premiums earned for the quarter amounted to $1,188.1 million, marking a 10% increase from the second quarter of 2024. The net investment income earned was $128.0 million, up 18% from the same period last year. Selective Insurance Group, Inc. reported total revenues of $1,326.7 million, an 11% increase from the second quarter of 2024.
Selective's standard commercial lines segment experienced a 6% growth in premiums from a year ago, with a combined ratio of 102.8%, down 16.0 points from a year ago. Additionally, the standard personal lines segment saw a deliberate profit improvement, resulting in a 26.5 point improvement in the combined ratio from a year ago, reaching 91.6%.
The excess and surplus lines segment also reported positive results, with premiums increasing by 9% from the prior-year period and a combined ratio of 89.8%, 4.8 points better than a year ago.
In the investments segment, after-tax net investment income saw an 18% increase from a year ago, reaching $101.4 million. The balance sheet showed an 8% increase in total assets and a 9% increase in total investments.
Looking ahead, selective's full-year expectations for 2025 include a revised GAAP combined ratio of 97% to 98%, up 1 point from prior guidance, and after-tax net investment income of $415 million.
The company's board of directors declared a quarterly cash dividend on common stock of $0.38 per common share and a quarterly cash dividend of $287.50 per share on its 4.60% non-cumulative preferred stock, series B.
Selective Insurance Group, Inc. (NASDAQ: SIGI) is a holding company for 10 property and casualty insurance companies rated "A+" (Superior) by AM Best. Through independent agents, the insurance companies offer standard insurance for commercial and personal risks and specialty insurance for commercial risks. Today the company's shares have moved -0.96% to a price of $90.035. For more information, read the company's full 8-K submission here.
