Selective Insurance Group Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Provides Earnings Guidance for the Year 2019
January 31, 2019 at 04:15 pm
Share
Selective Insurance Group Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2018. For the quarter, the company reported net premiums written of $582.8 million against $553.8 million a year ago. Total revenues were $643 million against $633.7 million a year ago. Net income was $45.8 million against $30.2 million a year ago. Net income per diluted share was $0.76 against $0.51 a year ago.
For the year, the company reported net premiums written of $2,514.3 million against $2,370.6 million a year ago. Total revenues were $2,586.1 million against $2,470 million a year ago. Net income was $178.9 million against $168.8 million a year ago. Net income per diluted share was $3.00 against $2.84 a year ago.
For the year 2019, the company expects after-tax net investment income of $175 million, which includes $8 million of after-tax net investment income from alternative investments.
Selective Insurance Group, Inc. is a holding company, which owns ten property and casualty insurance subsidiaries that sell products and services only in the United States. The Company's segments include Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. The Standard Commercial Lines segment includes property and casualty insurance products and services to commercial enterprises, typically businesses, non-profit organizations, and local government agencies. The Standard Personal Lines segment consists of property and casualty insurance products and services, including flood insurance coverage sold through the Write Your Own program of the National Flood Insurance Program. The E&S Lines segment consists of property and casualty insurance products and services to commercial customers unable to obtain coverage in the standard marketplace. The Investment segment invests insurance premiums and amounts generated through its capital management strategies.
Selective Insurance Group Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Provides Earnings Guidance for the Year 2019