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# Selective Insurance Set Aside $11.6 Million For Unpaid Premiums In One Quarter, Triple The Prior Quarter's $3.8 Million
- URL: https://www.bullished.co/selective-insurance-set-aside-11-6-million-for-unpaid-premiums-in-one-quarter-triple-the-109a7b97/
- Published: 2026-10-23T18:06:17.000Z
- Updated: 2026-10-23T18:06:17.000Z
- Description: The reserve against premiums customers owe rose to $30.8 million from $24.1 million even as gross receivables shrank.
- Author: Matteo Parrino
- Tags: SEC Filings, SIGI, Industry: Financials

[Selective Insurance Group](https://www.bullished.co/tag/sigi/), an insurance holding company that sells coverage through independent agents, took an [$11.6 million charge](https://www.sec.gov/Archives/edgar/data/0000230557/000023055726000027/sigi-20260930.htm?ref=bullished.co) for expected losses on uncollected premiums in the third quarter. The charge was about three times the $3.8 million it took in the second quarter, and it came while the amount customers owe the company was falling.

## A reserve that grew as receivables shrank

The allowance for credit losses on premiums receivable stood at $30.8 million on September 30, up from $24.1 million at the end of the [second quarter](https://www.sec.gov/Archives/edgar/data/0000230557/000023055726000020/sigi-20260630.htm?ref=bullished.co). Gross premiums receivable over the same stretch slipped from $1.66 billion to $1.58 billion.

Write-offs, meaning balances the company gave up on collecting, were $5.2 million in the quarter against $2.7 million in the third quarter of 2025\. For the first nine months, the expected-loss charge was $18.5 million, versus $7.9 million a year earlier.

The charge sits inside a quarter the company called strong. Net income available to common stockholders rose 12% to $126.4 million, or [$2.11 per diluted share](https://markets.ft.com/data/announce/detail?dockey=600-202610221615BIZWIRE%5FUSPRX%5F%5F%5F%5F20261022%5FBW777246-1&ref=bullished.co), and the combined ratio, the insurer's measure of claims and expenses against premiums, improved to 96.8% from 98.6%.

## Shrinking premiums, by design

Net premiums written fell 7% in the quarter. Management says it is deliberately pushing down retention on underperforming commercial accounts, and Standard Commercial Lines retention was 82%. Renewal price increases averaged [5.6%](https://markets.ft.com/data/announce/detail?dockey=600-202610221615BIZWIRE%5FUSPRX%5F%5F%5F%5F20261022%5FBW777246-1&ref=bullished.co), down from 9.6% a year ago.

Standard Commercial Lines, sold to businesses, non-profits and local governments, made up 71% of 2025 revenue, according to the company's annual report. After-tax net investment income rose 16% to $127 million, and the company raised its full-year outlook for that line to [$490 million](https://seekingalpha.com/news/4656671-selective-outlines-96%5F5-percentminus-97%5F5-percent-2026-combined-ratio-outlook-as-it-raises?ref=bullished.co) from $480 million.

## Buybacks and a bigger dividend

Selective repurchased $55 million of stock in the quarter. On October 22 its board authorized a new $200 million program, which takes capacity to $253.1 million alongside the $53.1 million left on the old one, and raised the quarterly dividend 12% to $0.48 a share.

Shares traded at $97.73 in Friday trading, up about 6.5% from the prior close of $91.74, for a market value of about $5.5 billion.

The fourth-quarter report will show whether the premiums-receivable charge stays above the $11.6 million taken this quarter.

### Sources

- [10-Q Filing — Selective Insurance Group (SIGI)](https://www.sec.gov/Archives/edgar/data/0000230557/000023055726000027/sigi-20260930.htm?ref=bullished.co) — SEC EDGAR
- [10-Q Filing — Selective Insurance Group (SIGI), Q2 FY2026 filed 2026-07-24 (comparison basis)](https://www.sec.gov/Archives/edgar/data/0000230557/000023055726000020/sigi-20260630.htm?ref=bullished.co) — SEC EDGAR
- [Earnings release (8-K Item 2.02, pressreleaseexh991q32026.htm) — Selective Insurance Group, filed 2026-10-22](https://www.sec.gov/Archives/edgar/data/0000230557/000023055726000024/pressreleaseexh991q32026.htm?ref=bullished.co) — SEC EDGAR
- [Selective outlines 96.5%-97.5% 2026 combined ratio outlook as it raises after-tax net investment income view to $490M (NASDAQ:SIGI) | Seeking Alpha](https://seekingalpha.com/news/4656671-selective-outlines-96%5F5-percentminus-97%5F5-percent-2026-combined-ratio-outlook-as-it-raises?ref=bullished.co) — seekingalpha.com
- [Selective Reports Third Quarter 2026 Results – Company Announcement - FT.com](https://markets.ft.com/data/announce/detail?dockey=600-202610221615BIZWIRE%5FUSPRX%5F%5F%5F%5F20261022%5FBW777246-1&ref=bullished.co) — Financial Times
- [Selective Insurance Group (SIGI) To Report Earnings Tomorrow: Here Is What To Expect](https://finance.yahoo.com/markets/stocks/articles/selective-insurance-group-sigi-report-072639102.html?ref=bullished.co) — Yahoo Finance
- [Selective Insurance (SIGI) Q3 Earnings Top Estimates](https://finance.yahoo.com/markets/stocks/articles/selective-insurance-sigi-q3-earnings-210007524.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [Here's What Key Metrics Tell Us About Selective Insurance (SIGI) Q3 Earnings](https://finance.yahoo.com/markets/stocks/articles/heres-key-metrics-tell-us-220002471.html?ref=bullished.co) — Yahoo Finance

### More on Selective Insurance Group

- [Selective Adds $200 Million Buyback Authorization, But CFO Won't Say How Much It Will Use](https://www.bullished.co/selective-adds-200-million-buyback-authorization-but-cfo-wont-say-how-much-it-will-use-63377033/)
- [Selective Is Letting Its Weakest Commercial Accounts Walk — Retention In That 10% Slice Fell To 52%](https://www.bullished.co/selective-is-letting-its-weakest-commercial-accounts-walk-retention-in-that-10-slice-fell-e4ec1c12/)
- [Selective Insurance Raises Dividend 12% To $0.48 And Authorizes A $200 Million Buyback](https://www.bullished.co/selective-insurance-raises-dividend-12-to-0-48-and-authorizes-a-200-million-buyback-ded4705c/)

[All Selective Insurance Group (SIGI) coverage →](https://www.bullished.co/tag/sigi/)