Selective

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.

The commercial insurer improved operating EPS by 95.7% following renewal price increases but missed Wall Street expectations.