Selective Insurance Group (SIGI) Tops Q1 EPS by 4c

Selective Insurance Group (NASDAQ: SIGI) reported Q1 EPS of $0.23, $0.04 better than the analyst estimate of $0.19.

Balance Sheet and Guidance At March 31, 2014, Selective's assets were $6.4 billion and the investment portfolio was $4.6 billion. Statutory surplus was $1.3 billion, up 1% compared to December 31, 2013. Stockholders' equity was $1.2 billion. Book value per share was $21.09, up slightly from $20.63 at year end 2013. This increase reflects $0.32 in net income coupled with $0.29 in unrealized investment gains on our investment portfolio, partially offset by $0.13 in shareholders' dividends.

Selective's Board of Directors declared a $0.13 per share quarterly cash dividend on common stock payable June 2, 2014 to stockholders of record as of May 15, 2014.

In 2014, Selective expects to generate a full-year statutory combined ratio of 92%, excluding catastrophes losses and no expectation of any additional prior year casualty reserve development. Selective estimates four points of catastrophe losses. After-tax investment income will be approximately $100 million and weighted average shares at year end are anticipated to be approximately 57 million.

The supplemental investor package, including financial information that is not part of this press release, is available on the Investor Relations' page of Selective's public website at www.selective.com. Selective's quarterly analyst conference call will be simulcast at 8:30 a.m. ET, on April 24, 2014 atwww.selective.com. The webcast will be available for rebroadcast until the close of business on May 27, 2014.

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

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