Selective Insurance Group (SIGI) Posts Q3 Net Loss of $0.37/Share, Catastrophe Losses Highest Ever
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Selective Insurance Group (NASDAQ: SIGI) reported Q3 EPS of ($0.37), $0.05 worse than the analyst estimate of ($0.32).
"Catastrophe losses for the quarter were $67 million, the highest Selective has experienced in its 85-year history," said Chairman, President and Chief Executive Officer Gregory E. Murphy. "Hurricane Irene's impact in our top four premium states was the key contributor to our results. However, our Claims teams have been working tirelessly in all the states impacted by the storms to pave the road to recovery for our customers.
"Catastrophe losses for the quarter were $67 million, the highest Selective has experienced in its 85-year history," said Chairman, President and Chief Executive Officer Gregory E. Murphy. "Hurricane Irene's impact in our top four premium states was the key contributor to our results. However, our Claims teams have been working tirelessly in all the states impacted by the storms to pave the road to recovery for our customers.
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