Selective Insurance Group Sees FY24 GAAP Combined Ratio Of 101.5%; After-Tax Net Investment Income Of $360M
Portfolio Pulse from Benzinga Newsdesk
Selective Insurance Group has projected a FY24 GAAP combined ratio of 101.5% and expects after-tax net investment income to be $360 million.
July 18, 2024 | 8:23 pm
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Selective Insurance Group has projected a FY24 GAAP combined ratio of 101.5%, indicating potential challenges in underwriting profitability. However, the company expects after-tax net investment income to be $360 million, which could provide some financial stability.
The projected GAAP combined ratio of 101.5% suggests that Selective Insurance Group may face underwriting challenges, as a ratio above 100% indicates that the company is paying out more in claims and expenses than it is earning in premiums. However, the expected after-tax net investment income of $360 million could help offset some of these challenges, providing a mixed outlook for investors.
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