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# Selective Insurance Raises Dividend 12% To $0.48 And Authorizes A $200 Million Buyback
- URL: https://www.bullished.co/selective-insurance-raises-dividend-12-to-0-48-and-authorizes-a-200-million-buyback-ded4705c/
- Published: 2026-10-22T20:37:21.000Z
- Updated: 2026-10-22T20:37:21.000Z
- Description: The insurer's combined ratio improved to 96.8% in the third quarter even as net premiums written fell 7%.
- Author: Matteo Parrino
- Tags: Earnings, SIGI, Industry: Financials

Selective Insurance Group, which sells property and casualty coverage through independent agents, [raised its quarterly dividend 12% to $0.48 per share](https://www.sec.gov/Archives/edgar/data/0000230557/000023055726000024/pressreleaseexh991q32026.htm?ref=bullished.co) and authorized a new $200 million share repurchase, it said Thursday with third-quarter results. Underwriting improved while premium volume shrank.

## Better margins, smaller book

Net income was $2.11 per diluted share, up from $1.85 a year earlier. Adjusted operating income, which strips out investment gains and losses, was $2.37 per share versus $1.75, according to the [company's release](https://www.sec.gov/Archives/edgar/data/0000230557/000023055726000024/pressreleaseexh991q32026.htm?ref=bullished.co).

The combined ratio, where anything under 100% means an underwriting profit, was 96.8% against 98.6% a year ago. Catastrophe losses ran 5.4 points, and the company booked no prior-year casualty reserve development, versus 3.3 points of unfavorable development a year earlier.

Net premiums written fell 7%. Standard Commercial Lines, which accounts for 77% of the total, dropped 8% on targeted retention actions and lower new business, while renewal pure price increases averaged 5.6%. After-tax net investment income rose 16% to $127 million.

## Shrinking on purpose

CEO John Marchioni said the pricing and mix actions have hurt near-term premium growth, but that a better portfolio is the foundation for sustainable, profitable growth over time. Selective has about 1,680 distribution partners for its standard lines. Standard Commercial Lines was 71% of 2025 revenue, according to the company's annual report.

Selective also named Jacob Rothfuss, currently CEO of Velocity Risk Underwriters, as president of its standard lines businesses, [Business Wire reported](https://www.businesswire.com/news/home/20261021805196/en/Selective-Insurance-Group-Names-Jacob-E.-Rothfuss-Executive-Vice-President-and-President-Standard-Lines?ref=bullished.co) Wednesday. He is expected to start no later than April 2027.

## Capital return and the outlook

The company repurchased $55 million of stock in the quarter, 587,229 shares at an average $93.66, and returned 63% of after-tax net income including dividends. The new authorization adds to $53 million left on the existing one at September 30.

For 2026, Selective raised its after-tax net investment income forecast to $490 million from $480 million. It guided to a combined ratio of 96.5% to 97.5%, including 5.5 points of catastrophe losses.

The $0.48 dividend is payable December 1 to holders of record November 16, and management holds its analyst call at 8:00 a.m. ET Friday.

### Sources

- [8-K Filing — SELECTIVE INSURANCE GROUP INC (SIGI)](https://www.sec.gov/Archives/edgar/data/0000230557/000023055726000024/sigi-20261022.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit pressreleaseexh991q32026.htm — SELECTIVE INSURANCE GROUP INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000230557/000023055726000024/pressreleaseexh991q32026.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit pressreleasesupplementexh9.htm — SELECTIVE INSURANCE GROUP INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000230557/000023055726000024/pressreleasesupplementexh9.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit thirdquarter2026investor.htm — SELECTIVE INSURANCE GROUP INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000230557/000023055726000024/thirdquarter2026investor.htm?ref=bullished.co) — SEC EDGAR
- [Stay Ahead of the Game With Selective Insurance (SIGI) Q3 Earnings: Wall Street's Insights on Key Metrics](https://finance.yahoo.com/markets/stocks/articles/stay-ahead-game-selective-insurance-184213960.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [Selective Insurance Group Names Jacob E. Rothfuss Executive Vice President and President, Standard Lines](https://www.businesswire.com/news/home/20261021805196/en/Selective-Insurance-Group-Names-Jacob-E.-Rothfuss-Executive-Vice-President-and-President-Standard-Lines?ref=bullished.co) — businesswire.com