Selective Insurance Group has released its financial results for the fourth quarter of 2025, reporting a net income of $152.9 million, a 64% increase from $93.2 million in the same period in 2024.
Operating income improved this quarter, growing 57%, to $156.2 million, compared to the $99.6 million in Q4 2024, signalling a highly efficient end to the fiscal year for the firm.
The company’s underwriting performance also saw improvement in Q4 2025, with the combined ratio landing at 93.8%, compared to the 98.5% CoR reported in Q4 2024.
Even with catastrophe losses accounting for 1.7 points of the CoR -with no net prior year casualty reserve development – net underwriting income in Q4 2025 increased to $60 million, compared to $13.3 million reported in the same period last year.
Selective also reported $1,129.5 million in net premiums written (NPW) for Q4 2025, a 4% increase from Q4 2024’s $1,089.6 million. The increase was driven by renewal pure price increases of 8.3%.
The firm’s total revenues reached $1,364.9 million, an increase from the $1,256.4 million reported in Q4 2024.
Net investment income also increased 17% from a year ago, to $114 million after-tax, generating 13.6 points of annualised return on equity (ROE) in the quarter.
John J. Marchioni, Chairman, President and Chief Executive Officer, said: “We are well-positioned to build on recent momentum. We delivered a double-digit operating ROE of 14.2% in 2025, reflecting the strength of our disciplined execution and resilience of our business model.
“This exceeds our ten-year average operating ROE of 12.1%. Our performance drove an 18% increase in book value per share in 2025, and we returned $182 million to common stockholders through regular dividends and opportunistic share repurchases.”
He added: “We executed key strategic initiatives across our business, delivering excellent growth and underwriting profitability in Excess and Surplus Lines.
“In Personal Lines, we improved our underwriting results as we continue to shift toward the mass affluent market. We also are executing targeted rate and underwriting actions in Standard Commercial Lines to achieve future profitability improvements.”
