Selective Insurance Group Shares Up 7% Since Q4 Earnings Release

Selective Insurance Group (NASDAQ:SIGI) shares gained more than 7% since the company’s reported Q4 results on Thursday, with EPS of $1.46 coming in better than the Street estimate of $1.45 and in line with the recently pre-announced figure. Revenue was $952.2 million, beating the Street estimate of $820.32 million.

Better-than-anticipated Personal Lines and E&S results were offset by weaker-than-anticipated Commercial Lines results.

Other positives from the results include Double-digit premium growth in all units, rising new money yields and strong NIl guidance for 2023, and a sizable uptick in reserve release vs. recent run rates.