Selective Insurance Profit Down in Q4, Up for the Year

Selective Insurance Group has reported fourth quarter net income of $30.2 million, a 23% decrease from $39.4 million in the prior-year quarter. But for the full year, net income was $169 million, up from $158 million for all of 2016. For standard commercial lines, net premiums written were up 8% in the fourth quarter, to $424 million. Net premiums written increased 6% for the full year, to $1.86 billion. The full-year statutory combined ratio was 90.7%, compared to 89.9% in 2016.  “Favorable prior-year casualty reserve development, driven by the workers' compensation an...