Selective Insurance dips after Q3 profit miss

Selective Insurance

02/11/2023 17:07

** Shares of Selective Insurance Group  SIGI.O  fall 2.5% to
$103.90 
    ** After market close on Wednesday, the New Jersey-based
property and casualty insurer reported Q3 adjusted profit of
$1.51/shr vs avg analysts' estimates of $1.58/shr, according to
LSEG data
    ** Q3 net premiums written jumped 17% to $1.06 bln on stable
customer retention and strong new business
    ** Co expects to extend its standard commercial lines
business to West Virginia and Maine in early 2024 followed by
Washington, Oregon, and Nevada later in the year
    ** Up to last close, SIGI stock up ~17.5% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))