Selective Insurance Group, Inc. has reported a 124% increase in after-tax net underwriting income to $29.5 million for Q3 2026, up from $13.2 million a year earlier, as its combined ratio improved despite higher catastrophe losses.
The firm’s combined ratio fell to 96.8% for Q3 2026, compared with 98.6% in the same period last year, an improvement of 1.8 percentage points.
As mentioned, net catastrophe losses increased to 5.4 points, from 2.1 points in Q3 2025, adding 3.3 points to the loss ratio comparison.
However, the loss and loss expense ratio improved by 3.3 percentage points to 64.6% in Q3 2026, from 67.9%.
Non-catastrophe property losses and loss expenses also declined to 13.1 points from 14.1 points a year earlier, while current-year casualty loss costs fell to 46.1 points from 48.4 points.
Selective’s underwriting expense ratio moved in the opposite direction, rising to 32.1% in Q3 2026 from 30.6%, an increase of 1.5 percentage points.
The firm’s net premiums written declined 7% year on year to $1.12 billion in Q3 2026, while net premiums earned fell 2% to $1.18 billion.
Elsewhere, Selective’s in Q3 2026net investment income earned increased 16% to $160.5 million, from $138.7 million in Q3 2025, though total revenues consequently slipped 2% to $1.33 billion from $1.36 billion.
Despite the lower revenue and higher catastrophe loss burden, net income available to common shareholders rose 12% to $126.4 million in Q3 2026, compared with $113 million a year earlier.
John J. Marchioni, Chairman, President and Chief Executive Officer of Selective, commented, “These results reflect our disciplined underwriting approach and continued progress to improve profitability.
“We remain focused on maintaining underwriting and pricing rigor in a competitive marketplace. This includes executing targeted pricing actions, improving the quality and mix of our portfolio, and remaining disciplined in our approach to new business growth.
“These actions have affected near-term premium growth, but we believe improving our portfolio’s mix and profitability are the foundation for sustainable, profitable growth over time.
“We are increasingly leveraging data and technology to enhance underwriting and claims decision-making, increase operational effectiveness, and amplify the expertise of our employees.
“These investments strengthen our ability to consistently deliver value to customers, distribution partners, shareholders, and employees.”
