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Selective Insurance Group’s E&S Breakthrough: 89.5% Combined Ratio Steals Focus!

Selective Insurance Group reported its first quarter 2026 financial results showing a continuation of disciplined underwriting amid a challenging insurance market. The company generated a 12% operating return on common equity, meeting its long-term target and marking the seventh consecutive quarter with double-digit operating returns. Selective emphasized its commitment to underwriting margins over premium growth, reflected in a 1% decline in standard commercial lines premiums partially offset by 1% growth in excess and surplus (E&S) lines, and a 6% decrease in personal lines premiums, though its targeted mass affluent market segment grew by 1%. The company’s combined ratio on a GAAP basis was 98.3% for the quarter, including 6.2 points of catastrophe losses, with an underlying combined ratio of 92.1%, consistent with typical seasonality effects. Selective experienced no prior year casualty reserve development this quarter, indicating stability in its reserving assumptions.