Selective Insurance stock remains poised to gain from solid retention rates, higher new business gains and renewal pure price increases.
Selective Insurance rides on solid retention rates, higher new business gains and renewal pure price increases, offset by higher expenses and exposure to cat loss.
Selective Insurance (SIGI) reported earnings 30 days ago. What's next for the stock?
Selective Insurance Group, Inc. (NASDAQ:SIGI ) Q3 2024 Results Conference Call October 22, 2024 8:30 AM ET Company Participants Brad Wilson - Senior Vice President, Investor Relations and Treasurer John Marchioni - Chairman of the Board, President and Chief Executive Officer Tony Harnett - Senior Vice President and Chief Accounting Officer Patrick Brennan - Executive Vice President and Chief Financial Officer Conference Call Participants Michael Phillips - Oppenheimer Michael Zaremski - BMO Paul Newsome - Piper Sandler Scott Heleniak - RBC Capital Markets Grace Carter - Bank of America Meyer Shields - Keefe, Bruyette & Woods Matt Carletti - Citizens JMP Operator Ladies and gentlemen, thank you for standing by. Welcome to Selective Insurance Group, Incorporated Third Quarter 2024 Earnings Call.
SIGI's Q3 results reflect average renewal pure price increases and stable retention, offset by higher catastrophe losses and expenses.
Although the revenue and EPS for Selective Insurance (SIGI) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Selective Insurance (SIGI) came out with quarterly earnings of $1.40 per share, missing the Zacks Consensus Estimate of $1.69 per share. This compares to earnings of $1.51 per share a year ago.
Besides Wall Street's top -and-bottom-line estimates for Selective Insurance (SIGI), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended September 2024.
Selective Insurance (SIGI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Selective Insurance rides on solid retention rates, higher new business gains and renewal pure price increases. Higher expenses and cat loss are major concerns.
Selective Insurance (SIGI) gains from strong renewal, fuel price increases, exposure growth, higher income earned on fixed-income securities portfolio and prudent capital deployment.
Selective Insurance Group achieved post-tax earnings of $365 million in 2023, driven by increased investment income and implemented rate changes. The company has displayed resilience and stability in the face of challenges in the insurance industry, with superior underwriting performance compared to peers. For the first six months of the year, the company has experienced weaker underwriting margins, coupled with prior year reserve strengthening in the commercial lines of business.