Selective

Need to Know

The company booked pre-tax net cat losses of $45.7mn, which included $46.1mn of net losses from Winter Storm Elliott.

In its preliminary Q4 earnings announcement, the carrier estimated a combined ratio of 94.7% for the quarter.

The regionals continue to find success in small and middle market business, as their pivot to a commercial focus has benefitted them.

In the third quarter, the company's underlying combined ratio, stripped of catastrophe losses and reserve development, totaled 94.7%, compared to 90.4% in the corresponding period.

The company posted lower cat losses despite a $10mn net loss attributed to Hurricane Ian.

With pricing decelerating and loss-cost trends potentially reversing, regionals should continue to execute on their present strategy.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

In Q2, Selective's headline combined ratio deteriorated 5.7 points to 95.5%, driven by higher catastrophe losses and lower favorable casualty reserve development.

The firm’s specialty pivot seems to be paying off in premium growth and value creation.

The underlying combined ratio was 91.4% this quarter, compared to 89% a year ago.

Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends.