Selective Insurance Group Q4 Earnings Call Highlights

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MarketBeat

Fri, January 30, 2026 astatine 9:13 AM CST 8 min read

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Selective delivered beardown 2025 results — ROE 14.4%, fourth‑quarter operating EPS up 59% and publication worth per stock up 18%, returning $182 cardinal to shareholders via dividends and buybacks.
Underwriting and reserve actions tightened results: GAAP combined ratio improved to 97.2% for 2025 and absorption strengthened commercialized car reserves by astir $190 million, portion implementing tighter fleet underwriting, state‑specific tactics and targeted telematics; Personal Lines weakness was concentrated successful New Jersey.
2026 guidance targets further borderline betterment with a GAAP combined ratio of 96.5%–97.5% (underlying 90.5%–91.5%), expects after‑tax concern income of ~$465 cardinal (up ~10%) and implies an operating ROE astir 14%, supported by a conservatively positioned portfolio and a reinsurance renewal with improved terms.
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Selective Insurance Group (NASDAQ:SIGI) executives highlighted improved profitability, beardown concern results, and continued underwriting actions during the company’s fourth-quarter and full-year 2025 net call, portion besides outlining expectations for further borderline betterment successful 2026 and beyond.

Chairman, President and CEO John Marchioni said the institution “delivered an ROE of 14.4% and an operating ROE of 14.2%” for 2025, exceeding Selective’s 10-year mean operating ROE of 12.1% and five-year mean of 12.5%. Marchioni said publication worth per stock grew 18% successful 2025 and the institution returned $182 cardinal to shareholders done dividends and stock repurchases.

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CFO Patrick Brennan reported fourth-quarter afloat diluted EPS of $2.52, up 66% twelvemonth implicit year, and operating EPS of $2.57, up 59%. Fourth-quarter ROE was 18.3% and operating ROE was 18.7%, which Brennan attributed to “continued beardown concern performance.”

Selective posted a fourth-quarter GAAP combined ratio of 93.8%, which Brennan said was a 4.7-point betterment from the prior-year 4th “mainly due to the fact that this 4th had nary nett anterior twelvemonth reserve development.” For full-year 2025, the combined ratio improved to 97.2% from 103% successful 2024, which absorption attributed chiefly to little prior-year casualty reserve improvement and little catastrophe losses.

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Marchioni said nett premiums written grew 5% for the twelvemonth arsenic the institution took “deliberate actions to amended underwriting profitability,” portion besides investing successful aboriginal maturation initiatives specified arsenic geographic enlargement and broadening excess and surplus (E&S) organisation with retail access.