Selective

Normalized growth and peak multiples confirm we are headed towards a Darwinian race.

Selective’s CEO earlier attributed Q3 adverse development to the NJ market.

By line of business, $35mn of the charge relates to commercial auto and $5mn to personal auto.

The Insurance Insider US news team runs you through the earnings results for the day.

The regional insurer has increased its weighting to OLO and commercial auto, versus comp.

Loss trend concerns persist, but insurers are vouching on the opportunity to push for more rate increases.

The carrier has been steadily increasing loss trend estimates.

The Insurance Insider US news team runs you through the earnings results for the day.

During first quarter earnings calls, insurers argued that they can mitigate volatility.

CEO Marchioni said the overall hit would likely be “in the low single digits”.

The Insurance Insider US news team runs you through the earnings results for the day.

Regionals and smaller carriers need to exercise vigilance when expanding commercial casualty lines.

The company’s combined ratio rose 6.5 points from 2023.

The Insurance Insider US news team runs you through the earnings results for the day.

Worrisome trends in the line may be warning signs of worse to come.

Modeling misses may have undervalued the storm’s inland wind impacts.

The Insurance Insider US news team runs you through the earnings results for the day.

The executive joins Selective after 19 years at Progressive.

Regionals may be particularly vulnerable to problematic loss cost trends and volatile cat losses.

Travelers and Selective’s releases point to ongoing reserving challenges this earnings season.

A quick round-up of today’s need-to-know news, including the Microsoft outage and Travelers' results.

The carrier’s CoR increased 15.9 points YoY to 116.1% on unfavorable GL development.

The Insurance Insider US news team runs you through the earnings results for the day.

The action comes in addition to a $55mn unfavorable development in GL in Q4 2023.

Commercial carrier earnings continue to show mixed prior-year development.

The $55mn hit is about 3% of the carrier’s general liability net reserves.

Markel, Axis and Selective booked sizeable reserve charges in their liability segments.

Insurance Insider US runs you through the earnings results for the day.

The company pegged its overall written renewal rate in Q4 at 9% and expects it to be in the range of 20% to 25% in 2024.

The Inside P&C news team runs you through the earnings results for the day.

Chief accounting officer Anthony Harnett will step in as interim, while Selective conducts a global search process to identify a new CFO.

Executives have pointed out that it is becoming increasingly difficult to talk about broader trends as micro-cycles are developing for each line.

After launching in West Virginia and Maine in early 2024, the New Jersey-based firm will target expansion in the western half of the country.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The Inside P&C news team runs you through the earnings results for the day.

Most storms affecting Selective’s results were in the Midwest and on the East Coast, and none were large enough to attach to its catastrophe reinsurance treaty.

The firm reported $55.3mn cat losses in Q1, of which $35.1mn were recorded in the standard commercial lines segment and $14.6mn in personal lines.

The carrier also increased its casualty loss cost assumption to 6% from 5.5%, driven by increased economic and social inflation.

Need to Know

The company booked pre-tax net cat losses of $45.7mn, which included $46.1mn of net losses from Winter Storm Elliott.

In its preliminary Q4 earnings announcement, the carrier estimated a combined ratio of 94.7% for the quarter.

The regionals continue to find success in small and middle market business, as their pivot to a commercial focus has benefitted them.

In the third quarter, the company's underlying combined ratio, stripped of catastrophe losses and reserve development, totaled 94.7%, compared to 90.4% in the corresponding period.

The company posted lower cat losses despite a $10mn net loss attributed to Hurricane Ian.

With pricing decelerating and loss-cost trends potentially reversing, regionals should continue to execute on their present strategy.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

In Q2, Selective's headline combined ratio deteriorated 5.7 points to 95.5%, driven by higher catastrophe losses and lower favorable casualty reserve development.

The firm’s specialty pivot seems to be paying off in premium growth and value creation.

The underlying combined ratio was 91.4% this quarter, compared to 89% a year ago.

Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends.

Selective Insurance's rate increases buck the industry trend of moderation as they continue to rise into Q2.

The results were driven primarily by higher non-catastrophe property losses and less favorable prior year casualty reserve development.

March’s CPI report shows elevated inflation levels, including vehicle CPI of 10.5% and average used car price increase of 24.7%.

Insurance stocks mixed following swath of earnings results; Aon gains nearly 7% in Friday trading.

Despite decreasing underwriting income, the company’s Q4 2021 performance was above the $1.41 earnings per share that analysts had estimated for the period.

The latest report shows even higher inflation pushing up severity, forcing carriers to take rate.

The monthly CPI report shows that inflation continues to push severity higher as carriers take rate in response.

The board intends to maintain lead independent director and chairperson elect John Marchioni following the meeting.

Supply chain disruptions are impacting material costs and timelines, but the Biden administration’s legislation promises growth.

The ratings agency praised the insurer’s strong balance sheet and operating performance as well as its adequate risk management.

The carrier’s results during the quarter were driven by lower underwriting gains in its commercial lines segment.

Ida soaks the tri-state – and has the potential to affect personal auto carriers more than comparable storms of the past.

Employment data indicates that easy growth and margin expansion may slow soon.

CEO John Marchioni also said he expected increases in social inflation trends to return as the economy reopens.

The New Jersey-based insurance group has rebounded from prior-year Covid-19-related challenges, calling this its "strongest capital position in history".

Management at Selective Insurance has updated the carrier’s profit guidance for 2021, saying it now expects the company to report a combined ratio of 90% for the full year.

Selective’s operating profits more than doubled year on year to $102.8mn for the first quarter of 2021, as the carrier benefitted from a $30mn prior-year reserve release and a 24% rise in investment income during the period.

Insurers face the difficult balancing act of signaling optimism to investors as they seek to push rate rises.

The first week’s reporters present a conundrum around whether or not we will see ROE expansion in 2021.

The executive says pricing increases in lines such as property and GL during the quarter were less pronounced.

Despite the continuing impact of Covid-19, the insurer’s combined ratio for the period improved by 3.7 points to 88.1%.

Inside P&C’s research team examines some of the areas that will be closely watched during the results season.

Strong rate rises bolstered premium growth despite the carrier taking a 11.4-point hit from cat losses.

John Marchioni said the increase in business written was a result of upward pricing and policyholder retention.

The results included $83mn cat losses, largely from April storms and civil unrest, in line with the pre-announced figures.

The carrier is expecting to report a combined ratio of between 98% and 99% for the second quarter.

The New Jersey-based carrier lowered full-year 2020 guidance on both underwriting and net investment income based on expectations of top-line and alternative investment income pressures.

Selective reported strong earnings in Q4, but with results partially offset by remediation work in its smaller E&S segment and a more competitive personal insurance market.

AM Best upgrades the outlook of the A rated company from stable to positive.

Selective reported operating EPS of $0.97/sh, down 2% versus $0.99/sh in the prior year period and modest miss against consensus of $1.06/sh.

Differing views on the impact of a lower rate environment emerged as a key controversy from company presentations Thursday.

Better E&S underwriting results and NII boost partially offset by offset by higher cats and expenses.

Gregory Murphy said there needs to be greater understanding of reinsurers’ credit risk.

Selective achieved renewal pure price increases that, on average, were in line with expected loss trends.