SELECTIVE INSURANCE GROUP INC recently released its 10-Q report. Selective Insurance Group, Inc. and its subsidiaries provide insurance products and services in the United States through four reportable segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus Lines, and Investments. Its insurance offerings include casualty, property, and flood coverage, sold through independent retail agents and wholesale general agents to businesses, nonprofit organizations, local government agencies, and individuals.
In Item 2, Management’s Discussion and Analysis, the company said second-quarter 2026 revenue rose 5% to $1.387 billion from $1.327 billion a year earlier, while six-month revenue increased 5% to $2.746 billion from $2.612 billion. After-tax net investment income climbed 18% to $119.2 million in the quarter and 18% to $232.3 million in the first half.
Underwriting improved in the quarter, with after-tax underwriting income of $19.3 million compared with a $1.9 million loss a year earlier. The combined ratio improved to 98.0% from 100.2%, helped by lower catastrophe and non-catastrophe property losses and the absence of prior-year casualty reserve development, which had reduced results by 3.8 points in the prior-year quarter.
Net income available to common stockholders increased 52% to $127.1 million, and diluted earnings per share rose to $2.11 from $1.36. Return on common equity increased to 14.8% from 10.7%, while non-GAAP operating ROE rose to 13.7% from 10.3%.
For the first six months, net income available to common stockholders rose 16% to $222.5 million, and diluted EPS increased 18% to $3.69. Non-GAAP operating income advanced to $219.6 million from $187.8 million, and operating EPS increased to $3.64 from $3.06.
Book value per share increased to $58.13 from $52.09, while adjusted book value per share rose to $60.56 from $54.48. The company also said it returned $58 million to common stockholders in the quarter through dividends and share repurchases.
Selective said it added 100 agency locations during the first half and reported that expansion states generated $242 million in premium, or about 9% of total direct premiums written. It also began writing business in Montana and Wyoming on July 1, 2026.
For full-year 2026, the company is targeting a GAAP combined ratio of 96.5% to 97.5%, after-tax net investment income of $480 million, an effective tax rate of 21.5%, and weighted average diluted shares of 60.2 million. Today the company's shares have moved -1.88% to a price of $95.95. For more information, read the company's full 10-Q submission here.
