SIGI · Selective Insurance Group Inc
Price & Indicators
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Metrics snapshot
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AI Brief
Q2 FY26 earnings call · Jul 24, 2026TL;DR. Selective delivered an 8th straight quarter of double-digit operating ROE (13.7%) on 18% after-tax net investment income growth, and raised its 2026 after-tax net investment income guide to $480M (from $465M), while net premiums written fell 5% as deliberate underwriting actions cut standard commercial new business 22% and worsened commercial casualty loss trends, with management signaling full-year combined ratio will track near the top of the unchanged 96.5%-97.5% range.
- + Raised 2026 after-tax net investment income guidance to $480M from prior $465M
- + E&S segment delivered a 91.8 combined ratio with 3.4% renewal pure price increase
- + Book value per share grew 3% sequentially to $58.13 with $32M of share repurchases
- − Elevated commercial auto liability frequency led to higher current year loss ratios, with year-to-date underlying commercial auto loss ratio at 69.7
- − Full-year 2026 GAAP combined ratio now expected near the top of the 96.5%-97.5% guidance range
- − Standard personal lines net premiums written fell 8% with new business down 36% as quarter combined ratio deteriorated 3.9 points to 95.5%
- − Standard commercial lines combined ratio remains elevated at 99.3%, with general liability at 106.2% and commercial auto at 101.8%
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted book value per common share non-GAAP | $60.56 | Second Quarter 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Book value per common share $58.13
+$3.07 Total unrealized investment (gains) losses included in accumulated other comprehensive income (loss), before tax
-$0.64 Tax on reconciling items
= Adjusted book value per common share $60.56
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| Annualized after-tax yield on fixed income investments | 4.4% | Quarter ended June 30, 2026 filing | — |
| Annualized after-tax yield on investment portfolio | 4.2% | Second Quarter 2026 filing | — |
| Invested assets per dollar of common stockholders' equity | 3.34 | Second Quarter 2026 filing | — |
| Loss and loss expense ratio | 61% | Quarter ended June 30, 2026 filing | — |
| Net premiums written ("NPW") to statutory surplus | 1.3 | Second Quarter 2026 filing | — |
| Non-GAAP operating income (loss) non-GAAP | $117.63M | Second Quarter 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Net income (loss) available to common stockholders 127.09M
-11.97M Net realized and unrealized investment (gains) losses included in net income (loss), before tax
+2.52M Tax on reconciling items
= Non-GAAP operating income (loss) 117.63M
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| Non-GAAP operating income (loss) per diluted common share non-GAAP | $1.95 | Second Quarter 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Net income (loss) available to common stockholders per diluted common share $2.11
-$0.2 Net realized and unrealized investment (gains) losses included in net income (loss), before tax
+$0.04 Tax on reconciling items
= Non-GAAP operating income (loss) per diluted common share $1.95
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| Non-GAAP operating ROE non-GAAP | 13.7% | Second Quarter 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP ROE 14.8%
-1.4% Net realized and unrealized investment (gains) losses included in net income (loss), before tax
+0.3% Tax on reconciling items
= Non-GAAP operating ROE 13.7%
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| ROE | 14.8% | Second Quarter 2026 filing | — |
| ROE from insurance operations | 2.3 | Second Quarter 2026 filing | — |
| Underwriting expense ratio | 30.8% | Quarter ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Insurance - Property & Casualty — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
SIGI
this stock
Selective Insurance Group Inc
|
$5.13B | +1.1% | +9.8% | 10.7 | 2.5% |
|
CB
Chubb Ltd
|
$128.80B | +6.4% | +6.5% | 11.8 | 0.9% |
|
PGR
Progressive Corp/Oh/
|
$119.47B | -7.6% | +16.3% | 10.3 | 1.1% |
|
TKOMY
Tokio Marine Holdings, Inc.
|
$100.71B | +40.6% | — | — | 0.0% |
|
TRV
Travelers Companies, Inc.
|
$75.72B | +25.2% | +5.2% | 9.8 | 3.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| SIGI | -3.5% | -7.3% | +4.0% | -7.3% | +1.2% |
| SPY | -1.2% | -0.4% | +13.1% | -0.4% | +12.1% |
| vs SPY | -2.3% | -6.9% | -9.1% | -6.9% | -10.9% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.