Selective Insurance Group, Inc. (NASDAQ: SIGI) released its third-quarter 2025 financial results, reporting a net income per diluted common share of $1.85 and non-GAAP operating income per diluted common share of $1.75. Return on common equity ("ROE") was 14.0%, and non-GAAP operating ROE was 13.2%. The quarterly dividend was increased by 13% to $0.43 per common share, and a new $200 million share repurchase program was authorized to replace the prior program.
In the third quarter of 2025, net premiums written (NPW) increased by 4% from the third quarter of 2024. The GAAP combined ratio improved to 98.6% from 99.5% in the third quarter of 2024. Commercial lines renewal pure price increases averaged 8.9%, slightly lower than the 9.1% in the third quarter of 2024. After-tax net investment income also saw a significant increase of 18% from the third quarter of 2024, reaching $110 million.
Book value per common share increased by 5% from the previous quarter to $54.46, and adjusted book value per common share was up by 2% to $55.83.
Selective Insurance Group, Inc. also highlighted its growth in the standard commercial lines footprint, expanding into Kansas and planning to enter Montana and Wyoming in 2026. The company strategically added 14 states over the last 8 years, significantly growing its market and advancing its goal of operating the standard commercial lines business with a near-national footprint.
The company's board of directors authorized a new share repurchase program under which it may repurchase up to $200 million of its outstanding shares, effective from October 27, 2025, with no expiration date. The existing share repurchase program, which had $19.9 million of shares remaining as of September 30, 2025, will remain effective through October 24, 2025.
Following these announcements, the company's shares moved 0.45%, and are now trading at a price of $83.975. Check out the company's full 8-K submission here.
