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On February 27, 2023, Selective Insurance announced the winner of its 2023 College Competition, held at the University of North Carolina at Charlotte, where students gained practical experience in simulated insurance operations. Indiana State University and Illinois State University secured second and third places, respectively. The competition, which aims to prepare the next generation of insurance professionals, provides monetary donations to the chapters of Gamma Iota Sigma for the top three teams. Selective, a leading provider of property and casualty insurance, is recognized for its commitment to fostering talent within the insurance industry.
Selective Insurance Group reported Q3 2022 results with a Return on Common Equity (ROE) of 7.0% and Non-GAAP Operating ROE at 10.5%. Key highlights include an 11% increase in Net Premiums Written (NPW) to $903.4 million, and an improved GAAP combined ratio of 96.8%. Despite strong premiums, after-tax net investment income fell 31% to $52 million, contributing to a 44% drop in net income per share to $0.66. Book value per share decreased 20% to $36.96. The company remains on track to meet its 2022 ROE target of 11%.
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