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SIGI Selective Insurance

Selective Insurance Group, Inc. provides property and casualty insurance products. It operates through the following segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The Standard Commercial Lines segment offers insurance products and services to commercial customers, such as non-profit organizations and local government agencies. The Standard Personal Lines segment comprises of insurance products and services, including flood insurance coverage. The E&S Lines segment includes insurance products and services provided to customers who are not obtained coverage in the standard marketplace. The Investments segment invests the premiums collected by various segments; and engages in the issuance of debt and equity securities. Selective Insurance Group was founded by Daniel L. B. Smith in 1926 and is headquartered in Branchville, NJ.

Company profile

SIGI stock data

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Press releases

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Calendar

29 Apr 21
14 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 8.92M 8.92M 8.92M 8.92M 8.92M 8.92M
Cash burn (monthly) 2.11M 474.17K (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 5.2M 1.17M n/a n/a n/a n/a
Cash remaining 3.72M 7.75M n/a n/a n/a n/a
Runway (months of cash) 1.8 16.3 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
9 Jun 21 Morrissey Michael J. Common Stock Sell Dispose S No No 74.99 3,000 224.97K 20,829.255
21 May 21 Rue William M Common Stock Sell Dispose S No No 77 15,000 1.16M 334,243.322
30 Apr 21 Cavanaugh Terrence W Common Stock Grant Aquire A No No 0 2,168 0 11,109.073
30 Apr 21 Bacus Lisa R Common Stock Grant Aquire A No No 0 1,051 0 1,051
30 Apr 21 Ainar D Aijala JR Common Stock Grant Aquire A No No 0 2,168 0 2,168

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

79.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 230 237 -3.0%
Opened positions 26 36 -27.8%
Closed positions 33 30 +10.0%
Increased positions 72 72
Reduced positions 96 88 +9.1%
13F shares
Current Prev Q Change
Total value 3.45B 3.43B +0.6%
Total shares 47.49M 48.15M -1.4%
Total puts 0 13.8K EXIT
Total calls 24K 10.3K +133.0%
Total put/call ratio 1.3
Largest owners
Shares Value Change
BLK Blackrock 7.07M $513.02M +5.9%
Vanguard 5.51M $399.67M +3.1%
TROW T. Rowe Price 2.72M $197.51M +2.0%
MCQEF Macquarie 2.69M $195.46M -4.2%
STT State Street 1.86M $134.56M -1.4%
Champlain Investment Partners 1.51M $109.59M +1.7%
Dimensional Fund Advisors 1.46M $106.32M -4.4%
Alliancebernstein 1.45M $105.12M +0.7%
SAMG Silvercrest Asset Management 1.21M $88.08M -10.8%
JHG Janus Henderson 1.2M $87.14M -9.0%
Largest transactions
Shares Bought/sold Change
Atlanta Capital Management Co L L C 792.97K +792.97K NEW
Norges Bank 0 -702K EXIT
TimesSquare Capital Management 0 -637.51K EXIT
BLK Blackrock 7.07M +394.01K +5.9%
IVZ Invesco 218.22K -213.63K -49.5%
Cooke & Bieler 642.03K +211.12K +49.0%
Prospector Partners 37.57K -198.1K -84.1%
Vanguard 5.51M +168.05K +3.1%
SAMG Silvercrest Asset Management 1.21M -147.27K -10.8%
BAC Bank Of America 489.41K +143.42K +41.5%

Financial report summary

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Competition
National General
Risks
  • We are subject to losses from catastrophic events.
  • Our ability to reduce our risk exposure depends on the availability and cost of reinsurance.
  • We may be subject to potentially significant losses from acts of terrorism.
  • We are exposed to credit risk.
  • We depend on distribution partners.
  • National and global economic conditions could adversely and materially affect our business, results of operations, financial condition, and growth.
  • A downgrade or a potential downgrade in our financial strength or credit ratings could result in a loss of business and could have a material adverse effect on our financial condition and results of operations.
  • We have less loss experience data than our larger competitors.
  • We are subject to various modeling risks that could have a material adverse impact on our business results.
  • Our investments are exposed to credit risk, interest rate fluctuation, and changes in value.
  • We have securities tied to LIBOR, which may be eliminated by the end of 2021.
  • We are subject to the types of risks inherent in investing in private limited partnerships.
  • The determination of the amount of credit losses taken on our investments is highly subjective and could materially impact our results of operations or our financial position.
  • We are engaged in ordinary routine legal proceedings incidental to our insurance operations that, because litigation outcomes are inherently unpredictable, could impact our reputation and/or have a material adverse effect on our consolidated results of operations or cash flows in particular quarterly or annual periods.
  • We are a holding company, and our ability to declare dividends to our shareholders, pay indebtedness, and enter into affiliate transactions may be limited because our Insurance Subsidiaries are regulated.
  • Because we are a New Jersey corporation and an insurance holding company, we may be less attractive to potential acquirers and the value of our common stock could be adversely affected.
  • We, our distribution partners, and our vendors are subject to attempted cyber-attacks, other cybersecurity risks, and system availability risk.
  • Our long-term strategy to deploy operational leverage is dependent on the success of our risk management strategies, and their failure could have a material adverse effect on our financial condition or results of operations.
Management Discussion
  • In First Quarter 2021, NPW increased 23% from a year ago, of which 12 points were due to the COVID-19-related $75 million return audit and mid-term endorsement premium accrual that reduced First Quarter 2020 NPW. NPW growth included overall renewal pure price increases of 5.4% and higher commercial lines retention. This solid growth continues to reflect the strong relationships we have with our best-in-class distribution partners, our sophisticated underwriting and pricing tools, and excellent customer servicing capabilities.
  • For additional qualitative reserve development discussion, please refer to the insurance segment sections below in "Results of Operations and Related Information by Segment."
  • The underwriting expense ratio decreased 3.1 points in First Quarter 2021 compared to First Quarter 2020, primarily driven by a 1.6-point change related to our allowance for credit losses on premiums receivable. We increased this allowance by $10.5 million during 2020 due to heightened credit risk resulting from the COVID-19-related billing accommodations we offered customers that increased earned but uncollected premiums during the year. This credit risk returned to pre-COVID-19 levels in 2021, and the allowance did not require further adjustment in First Quarter 2021. The existing allowance is expected to be sufficient to cover anticipated write-offs that will occur over the corresponding collections cycle, which could last more than a year. In addition, our underwriting expense ratio decreased 1.1 points in First Quarter 2021, compared to the same prior-year period, due to temporary expense reductions in labor and travel expenses as a result of COVID-19.
Content analysis
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Positive
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