Selective Insurance Group (SIGI) Tops Q3 EPS by 10c

Selective Insurance Group (NASDAQ: SIGI) reported Q3 EPS of $0.72, $0.10 better than the analyst estimate of $0.62. Revenue for the quarter came in at $604.3 million versus the consensus estimate of $611.71 million.

Guidance

After three quarters of results, we are increasing our full-year 2017 after-tax net investment income guidance by $2 million, to $115 million, with all other assumptions remaining the same. Our full-year expectations are as follows:

• A statutory combined ratio, excluding catastrophe losses, of approximately 89.5%. This assumes no prior year casualty reserve development in the fourth quarter;
• Catastrophe losses of 3.5 points;
• After-tax net investment income of $115 million; and
• Weighted average shares outstanding of 59.2 million.

In the third quarter of 2017:

• Net premiums written grew 4%
• GAAP combined ratio was 94.3%
• Statutory combined ratio was 93.7%
• After-tax net investment income was $29.6 million
• Annualized return on average equity (\"ROE\") was 11.2% and operating ROE1 was 10.1%

For earnings history and earnings-related data on Selective Insurance Group (SIGI) click here.

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