Selective’s CR up 2.5 points to 98.2% amid $35mn reserve charge

Published: Thu 2 May 2024

Selective Insurance Group’s combined ratio increased 2.5 points to 98.2 percent in Q1 2024 as unfavourable development on prior year casualty reserves took its toll, while its operating income fell 7 percent to $81.5mn in earnings that fell short of analysts’ consensus forecast.