Selective Insurance: Q1 Earnings Snapshot
By AP News
Published - May 03, 2023, 06:03 PM ET
Last Updated - Jun 21, 2023, 11:11 PM EDT
BRANCHVILLE, N.J. (AP) — BRANCHVILLE, N.J. (AP) — Selective Insurance Group Inc. (SIGI) on Wednesday reported first-quarter profit of $92.6 million.
On a per-share basis, the Branchville, New Jersey-based company said it had profit of $1.48. Earnings, adjusted for investment gains, were $1.44 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.
The insurance holding company posted revenue of $999.8 million in the period. Its adjusted revenue was $996.4 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $999.8 million.
