Net Income Dips at Selective Insurance for Q4, Full Year

Selective Insurance Group Inc. has reported a net income of $39.4 million for the fourth quarter, a 13% decrease from $45.4 million in the prior-year quarter. For the full year, net income was $158.5 million, down 4% from $165.9 million in 2015. Net premiums written for standard commercial lines were $392.2 million, up 10% from $356.9 million in the prior-year quarter. For the full year, net premiums written for commercial lines were $1.74 billion, a 9% increase from 2015. The company said it saw favorable prior-year casualty reserve development, driven by the workers' compensation and ...