Selective Insurance Group's GAAP combined ratio improved to 96.8% in the third quarter of 2026, from 98.6% a year earlier, the New Jersey-based commercial and personal lines insurer said in results filed on 22 October. Catastrophe losses rose to 5.4 points from 2.1 points, but the quarter had no prior-year casualty reserve development, against 3.3 points of adverse development in the same period of 2025.
Net premiums written fell 7% to $1,122.8m. Renewal pure price increases averaged 5.6%. Chief executive John Marchioni said the company is "maintaining underwriting and pricing rigor in a competitive marketplace" and that recent actions "have affected near-term premium growth", but that a better portfolio mix should support growth later.
Net income was $2.11 per diluted share, up from $1.85, and non-GAAP operating income was $2.37, up from $1.75. Return on equity was 15.1%, and non-GAAP operating return on equity was 16.9%.
For the full year, Selective expects a GAAP combined ratio of 96.5% to 97.5%, including 5.5 points of net catastrophe losses and assuming no prior-year casualty reserve development. It raised its forecast for after-tax net investment income to $490m from $480m.
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Selective Insurance Group ↗Company · 22 Oct 2026
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