SIGI Selective Insurance Group, Inc.

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

Ticker

SIGI

Exchange

NASDAQ

Website

www.selective.com

CEO

John J. Marchioni

Incorporated in

New Jersey

Location

New Jersey

Fiscal year end

Dec 31

Sector

Finance > Property/Casualty Insurance

Industry (SEC)

Fire, Marine & Casualty Insurance

American International • Berkshire Hathaway • The Hartford Financial Services Group, Inc. • CNA Financial • American Financial • Markel • Progressive • Everest Re • Berkley W R • Arch Capital ...

SEC CIK

0000230557

Corporate docs

Articles of Incorporation & Bylaws

IRS number

222168890

SIGI stock data

S&P 500

1M 1Y 2Y 5Y

Calendar

6 May 20

11 Jul 20

31 Dec 20

News

Company financial data Financial data

Chart SIGI financial data

Quarter (USD)	Mar 20	Dec 19	Sep 19	Jun 19
Revenue	664.83M	728.9M	710.43M	708.2M
Net income	15.24M	81.86M	56.15M	72.27M
Diluted EPS	0.25	1.36	0.93	1.21
Net profit margin	2.29%	11.23%	7.90%	10.20%
Net change in cash	9.13M	-216K	12K	-12K
Cash on hand	9.43M	300K	516K	504K

Annual (USD)	Dec 19	Dec 18	Dec 17	Dec 16
Revenue	2.85B	2.59B	2.47B	2.28B
Net income	271.62M	178.94M	168.83M	158.5M
Diluted EPS	4.53	3	2.84	2.7
Net profit margin	9.54%	6.92%	6.84%	6.94%
Net change in cash	-205K	-29K	76K	-440K
Cash on hand	300K	505K	534K	458K

Financial data from company earnings reports

Recent insider trades

SIGI insider ownership history Insider history

Date	Owner	Security	Transaction	Code	10b5-1	$Price	#Shares	$Value	#Remaining
29 May 20	Rue William M	Common Stock	Buy	Aquire P	No	52.45	25,000	1.31M	355,169.507
15 May 20	Cavanaugh Terrence W	Common Stock	Buy	Aquire P	No	46.0214	1,000	46.02K	8,918.258
7 May 20	Burville John	Common Stock	Grant	Aquire A	No	0	3,575	0	81,805.507
7 May 20	Mitchell H Elizabeth	Common Stock	Grant	Aquire A	No	0	3,575	0	7,223.901
7 May 20	McCarthy Thomas A	Common Stock	Grant	Aquire A	No	0	3,575	0	8,656.901

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q1 2020

SIGI institutional ownership history Ownership history

78.3% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	224	263	-14.8%
Opened positions	23	31	-25.8%
Closed positions	62	48	+29.2%
Increased positions	83	94	-11.7%
Reduced positions	88	102	-13.7%

13F shares	Current	Prev Q	Change
Total value	10.17B	12.82B	-20.6%
Total shares	46.49M	46.63M	-0.3%
Total puts	0	0
Total calls	19.6K	18.4K	+6.5%
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
BLK BlackRock	6.78M	$337.07M	-2.0%
Vanguard	5.71M	$284.01M	+2.8%
MCQEF Macquarie	2.65M	$131.61M	+14.3%
N Price T Rowe Associates	2.54M	$126.19M	+6.2%
STT State Street	2.16M	$107.45M	+1.8%
Dimensional Fund Advisors	2.16M	$107.21M	-14.6%
SAMG Silvercrest Asset Management	1.55M	$77.21M	+2.3%
GS The Goldman Sachs Group, Inc.	1.28M	$63.45M	+0.4%
Alliancebernstein	1.25M	$62.15M	-1.4%
NTRS Northern Trust	1.17M	$58.02M	+0.4%

Largest transactions	Shares	Bought/sold	Change
Norges Bank	0	-721.29K	EXIT
Wellington Management	446.83K	+446.83K	NEW
Champlain Investment Partners	392.37K	+392.37K	NEW
Dimensional Fund Advisors	2.16M	-369.54K	-14.6%
Cramer Rosenthal MCGLYNN	0	-338.05K	EXIT
MCQEF Macquarie	2.65M	+330.79K	+14.3%
Balyasny Asset Management	0	-262.39K	EXIT
Allianz Asset Management GmbH	107.19K	-243.51K	-69.4%
TimesSquare Capital Management	227.69K	+227.69K	NEW
Voya Investment Management	90.31K	-213.52K	-70.3%

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

Amcomp • Tower Group International • Eastern Insurance • 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 depend on distribution partners.
National and global economic conditions could materially adversely 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 a variety of modeling risks that could have a material adverse impact on our business results.
We have securities tied to LIBOR, which is being 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 impairments taken on our investments is highly subjective and could materially impact our results of operations or our financial position.
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.
We are subject to attempted cyber-attacks and other cybersecurity risks.
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

The decrease in NPW was mainly due to a $75 million increase in our return audit and mid-term endorsement premium accrual related to the COVID-19 pandemic discussed in "Current Events" above, of which $46 million was recorded in our general liability line of business and $29 million was recorded in our workers compensation line of business. This was partially offset by (i) direct new business, and (ii) renewal pure price increases.
The loss and loss expense ratio increased slightly in First Quarter 2020 compared to First Quarter 2019, driven, in part, by the following:1Non-catastrophe property loss and loss expenses included an estimate of $10 million in response to COVID-19, which is discussed in "Current Events" above.
For additional information regarding favorable prior year casualty reserve development by line of business, see the "Financial Highlights of Results for First Quarter 2020 and First Quarter 2019" section above and the line of business discussions below.

Content analysis ?

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Avg

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From filing 10-Q 2020 Q1