Selective Insurance Boosts 3Q Profit by 19%

Selective Insurance Group has reported net income for the third quarter of $55.4 million, a 19% increase from $46.7 million in last year’s third quarter. For the first nine months of the year, net income was $133 million, down 4% from $139 million in the prior-year period. The super-regional property and casualty insurance carrier, based in Branchville, New Jersey, reported that its combined ratio was 94.6% in the third quarter, up slightly from 94.3% in the same quarter last year. In standard commercial lines, net premiums written grew by 6% in the third quarter, to $502 million. A ...