--- title: "Selective Insurance Pref Share SIGIP 4.6 Perp 12/15/25 B | 8-K: FY2025 Q3 Revenue: USD 1.36 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/262298543.md" datetime: "2025-10-22T20:22:57.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/262298543.md) - [en](https://longbridge.com/en/news/262298543.md) - [zh-HK](https://longbridge.com/zh-HK/news/262298543.md) generator: "portal-rs" --- # Selective Insurance Pref Share SIGIP 4.6 Perp 12/15/25 B | 8-K: FY2025 Q3 Revenue: USD 1.36 B Revenue: As of FY2025 Q3, the actual value is USD 1.36 B. EPS: As of FY2025 Q3, the actual value is USD 1.85. ### Consolidated Financial Results - **Net premiums written**: $1,207.9 million, up 4% from $1,157.6 million in Q3 2024. - **Net premiums earned**: $1,204.7 million, up 8% from $1,112.2 million in Q3 2024. - **Net investment income earned**: $138.7 million, up 18% from $117.8 million in Q3 2024. - **Net realized and unrealized gains (losses), pre-tax**: $8.1 million, up 50% from $5.4 million in Q3 2024. - **Total revenues**: $1,360.1 million, up 9% from $1,244.3 million in Q3 2024. - **Net underwriting income (loss), after-tax**: $13.2 million, up 218% from $4.1 million in Q3 2024. - **Net income (loss) available to common stockholders**: $113.0 million, up 26% from $90.0 million in Q3 2024. - **Non-GAAP operating income (loss)**: $106.7 million, up 24% from $85.7 million in Q3 2024. - **Combined ratio**: 98.6%, improved from 99.5% in Q3 2024. - **Loss and loss expense ratio**: 67.9%, improved from 68.8% in Q3 2024. - **Underwriting expense ratio**: 30.6%, unchanged from Q3 2024. - **Net catastrophe losses**: 2.1 points, down from 13.4 points in Q3 2024. - **Book value per common share**: $54.46, up 12% from $48.82 in Q3 2024. - **Adjusted book value per common share**: $55.83, up 10% from $50.80 in Q3 2024. ### Standard Commercial Lines Segment - **Net premiums written**: $940.8 million, up 4% from $903.9 million in Q3 2024. - **Net premiums earned**: $947.3 million, up 8% from $875.4 million in Q3 2024. - **Combined ratio**: 101.1%, up from 99.2% in Q3 2024. - **Loss and loss expense ratio**: 69.5%, up from 67.6% in Q3 2024. - **Underwriting expense ratio**: 31.5%, up from 31.4% in Q3 2024. - **Net catastrophe losses**: 1.6 points, down from 11.5 points in Q3 2024. ### Standard Personal Lines Segment - **Net premiums written**: $104.2 million, down 6% from $111.0 million in Q3 2024. - **Net premiums earned**: $101.5 million, down 6% from $107.5 million in Q3 2024. - **Combined ratio**: 110.1%, improved from 122.1% in Q3 2024. - **Loss and loss expense ratio**: 88.0%, improved from 98.7% in Q3 2024. - **Underwriting expense ratio**: 22.1%, improved from 23.4% in Q3 2024. - **Net catastrophe losses**: 12.0 points, down from 38.8 points in Q3 2024. ### Excess and Surplus Lines Segment - **Net premiums written**: $162.9 million, up 14% from $142.7 million in Q3 2024. - **Net premiums earned**: $155.9 million, up 21% from $129.3 million in Q3 2024. - **Combined ratio**: 76.2%, improved from 83.2% in Q3 2024. - **Loss and loss expense ratio**: 46.1%, improved from 52.5% in Q3 2024. - **Underwriting expense ratio**: 30.1%, improved from 30.7% in Q3 2024. - **Net catastrophe losses**: -1.5 points, down from 5.2 points in Q3 2024. ### Investments Segment - **Net investment income earned, after-tax**: $110.0 million, up 18% from $93.4 million in Q3 2024. - **Net investment income per common share**: $1.80, up 18% from $1.52 in Q3 2024. - **Annualized ROE contribution**: 13.6%, up from 13.1% in Q3 2024. ### Balance Sheet - **Total assets**: $14,980.4 million, up 11% from $13,514.2 million as of December 31, 2024. - **Total investments**: $11,051.5 million, up 15% from $9,651.3 million as of December 31, 2024. - **Long-term debt**: $902.3 million, up 78% from $507.9 million as of December 31, 2024. - **Stockholders’ equity**: $3,490.0 million, up 12% from $3,120.1 million as of December 31, 2024. - **Common stockholders’ equity**: $3,290.0 million, up 13% from $2,920.1 million as of December 31, 2024. - **Book value per common share**: $54.46, up 13% from $47.99 as of December 31, 2024. - **Adjusted book value per common share**: $55.83, up 7% from $52.10 as of December 31, 2024. - **Debt to total capitalization**: 20.5%, up from 14.0% as of December 31, 2024. ### Outlook / Guidance - **GAAP combined ratio**: 97% to 98%, including net catastrophe losses of 4 points and the impact of prior year casualty reserve development reported through the third quarter. - **After-tax net investment income**: $420 million, up from prior guidance of $415 million. - **Overall effective tax rate**: 21.5%. - **Weighted average shares**: 61.1 million on a fully diluted basis, reflecting the shares repurchased in the first nine months of 2025 and assuming no additional repurchases under the share repurchase authorization. ### Additional Outlook / Guidance - The company anticipates challenging conditions in the economy, global capital markets, and commercial real estate, which could increase loss costs and negatively impact investment portfolios. - There is a potential impact from ongoing wars and conflicts on global economic, banking, commodity, and financial markets, which could exacerbate economic challenges, including inflation and supply chain disruption. - The company is focused on maintaining favorable financial ratings from agencies such as AM Best, Standard & Poor’s, Moody’s, and Fitch. ### Related Stocks - [SIGIP.US](https://longbridge.com/en/quote/SIGIP.US.md) ## Related News & Research - [ROI-Oil markets survived the Iran war sprint. 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