Selective Insurance reports Q4 non-GAAP EPS $1.94, consensus $1.94

Reports Q4 revenue $1.11B, consensus $958.13M. Adjusted book value per common share was $50.03, up 3% from last quarter. “2023 marked a significant milestone for Selective as we achieved our 10th consecutive year of double-digit operating ROE and exceeded $4B of net premiums written for the first time in our nearly 100-year history,” said CEO John Marchioni. “Our annual operating ROE of 14.4% exceeded our 12% target, and net premiums written increased 16%…”Selective’s consistent ROE, averaging 12.2% over the past decade, is a significant accomplishment. During this time, we more than doubled NPW and book value per share, nearly tripled operating income, and advanced key strategic initiatives. Our talented employees and close relationships with distribution partners are two core competitive advantages enabling us to uniquely serve our customers and generate profitable growth. We are very well-positioned heading into 2024”.