Selective Insurance Group, Inc.: Initiation of Coverage –  Focus on Investment Strategy and Asset Allocation! 

Selective Insurance Group recently disclosed its financial results for the first quarter of 2024, providing a mixed picture of achievements and challenges that offer a nuanced view for investors. The company posted an operating return on equity (ROE) of 11.7% and reported a 16% growth in net premiums written, driven primarily by strong pricing, steady retention, and continued exposure increases. However, these positive developments were somewhat overshadowed by a combined ratio of 98.2%, which was above the target of 95%, largely due to increased reserving actions.