Selective Insurance Group, Inc. (SIGI) Earnings
Selective Insurance Group, Inc. is expected to report next earnings on July 24, 2026 (in NaN days), with a consensus EPS estimate of $1.66. SIGI has beaten EPS estimates in 1 of its last 12 reported quarters (average surprise -3.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $1.80 | $1.69 | -6.1% | $1.2B | -5.1% |
| Jan 29, 2026 | $2.24 | $2.57 | +14.7% | $1.4B | -0.8% |
| Oct 22, 2025 | $1.85 | $1.75 | -5.4% | $1.4B | +0.8% |
| Jul 23, 2025 | $1.55 | $1.31 | -15.5% | $1.3B | -1.5% |
| Apr 23, 2025 | $1.89 | $1.76 | -6.9% | $1.3B | -1.7% |
| Jan 29, 2025 | $1.99 | $1.62 | -18.6% | $1.3B | -1.2% |
| Jul 18, 2024 | $1.56 | $-1.10 | -170.5% | $1.2B | +2.2% |
| May 1, 2024 | $1.86 | $1.33 | -28.5% | $1.2B | +3.9% |
| Jan 31, 2024 | $1.94 | $1.94 | +0.0% | $1.1B | +1.0% |
| Nov 1, 2023 | $1.58 | $1.51 | -4.4% | $1.1B | +7.3% |
| Aug 2, 2023 | $0.99 | $0.99 | +0.0% | $1.0B | +0.6% |
| May 3, 2023 | $1.59 | $1.44 | -9.4% | $1000M | +2.6% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Generated an operating ROE of 12%, seventh consecutive quarter of double-digit operating returns. - Prioritize underwriting margins over top-line growth. - Pricing posture on commercial casualty reflects view on loss trends. - Invest in AI for claims underwriting, risk management, improving risk selection, pricing accuracy, and productivity. AI claims ingestion tool processed over half a million documents. Automation supports evaluation of contractual risk transfer adequacy for contractors. - Expand standard lines geographic footprint, grow with existing agency partners and appoint new agency locations. - Portfolio mix shift: Relative exposure to contractors declined in new business mix, but maintain expertise in serving them; more diversified portfolio for long-term performance. - On renewals, tools and operating model to improve portfolio quality, resulting in lower retention on underperforming cohorts and stronger retention on well-performing accounts.
Guidance
Reaffirm guidance communicated in January. Expect GAAP combined ratio between 96.5 and 97.5 assuming six points of catastrophe losses. Expect after-tax net investment income of $465 million. Guidance assumes effective tax rate of approximately 21.5% and fully diluted weighted average share count of approximately 60.5 million.
Segment performance
Standard commercial lines: Net premiums written declined 1% year over year. General liability renewal pure price increases in the 10% range over past seven quarters. Commercial auto liability renewal pure price approached 12%. Excess and surplus lines: Premiums grew 1% in the quarter, average renewal pure price increases 4.1%, ENS combined ratio 89.5%, 3 points better than a year ago. Personal lines: Combined ratio improved to 92.8% for the quarter, net premiums written declined 6% year over year, target business up 1%, renewal pure price 10.6%.
Risks & headwinds
- Industry-wide elevated commercial casualty loss trends. - Social inflation continues to pressure recent accident years, particularly in general liability, commercial auto liability, and umbrella. - Market pricing in commercial casualty segment, especially other liability occurrence, has not adjusted upward despite ongoing reserve pressure.
Analyst Q&A
Q: Michael Phillips asked about downturn in premium growth and retention cohorts change.
A: John responded new business hit ratios down led to premium drop, retention cohorts change is result of granular pricing strategy execution.
Q: Michael Zaremski asked if would continue pulling back and operating leverage on expense ratio.
A: John said would mitigate top-line impact via renewal portfolio segmentation, technology investments will positively impact expense ratio.
Q: Roland Mayer asked on capital return strategy and difference in combined ratio guide.
A: John said capital management prioritizes profitable business, combined ratio difference mainly due to normal variability in non-CAT property.
Q: Meyer Shields asked on workers' comp development, loss trend consistency across cohorts, and impact of moving away from contractors on surety book.
A: John said favorable emergence in workers' comp from end-of-year health study, severity trend consistent across cohorts with some frequency improvement in preferred bucket, move away from contractors not significant impact on surety book.
Q: Paul Newsom asked on differences within contractors and state-by-state business advantage.
A: John said differences in contractors mainly geographic, New Jersey and other places have elevated loss trends in commercial auto, underwriting construction is consistent considering safety practices and contract risks.