Selective Insurance Group has reported net premiums written of $1.21 billion for Q3 2025, a 4% increase from $1.16 billion in the same period of 2024.
The firm’s combined ratio also improved to 98.6%, reflecting a stronger underwriting performance.
According to Selective, the growth in net premiums written was driven by renewal pure price increases averaging 9.6%.
On the combined ratio, the company noted that catastrophe losses contributed 2.1 points, while net unfavourable prior-year casualty reserve development added 3.3 points, stemming from approximately $40 million in reserve strengthening, primarily within standard commercial lines.
Selective’s underwriting income reached $13.2 million in Q3 2025, a considerable increase from $4.1 million in Q3 2024.
The firm’s total revenues were also up, hitting $1.36 billion in the quarter, with a return on common equity of 14%.
Notably, Selective’s after-tax net investment income was $110 million in Q3 2025, up 18% from Q3 2024.
John J. Marchioni, Chairman, President and Chief Executive Officer of Selective, commented, “Our full-year combined ratio outlook remains at 97 to 98%. We believe our focus on improving underwriting margins and investing in areas that support long-term, profitable growth positions us for stronger, more sustainable performance.
“This quarter, we expanded our Standard Commercial Lines footprint into Kansas, and we plan to enter Montana and Wyoming in 2026.
“We’ve strategically added 14 states over the last 8 years, significantly growing our market and advancing our stated goal of operating our Standard Commercial Lines business with a near-national footprint.”
Marchioni continued, “We remain committed to our long-term capital management strategy – prioritising investments in insurance operations that drive profitable growth, targeting 20% to 25% of our earnings returned through dividends over time, and opportunistically repurchasing shares.
“This quarter, we are pleased to announce a 13% increase in our quarterly dividend – our twelfth consecutive annual increase – and a new $200 million share repurchase program authorisation, replacing the prior program.
“We repurchased $36 million of common stock in the quarter under our prior authorisation. Together, these actions underscore our unwavering commitment to delivering long-term value to shareholders.”
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