Dividends & Buybacks ·
Selective raises quarterly dividend 12% to $0.48 per share and authorizes new $200M buyback
SIGISelective Insurance Group Inc
Selective Insurance Group reported third-quarter net income of $126.4 million, or $2.11 per diluted share, driven by a lower combined ratio of 96.8% and after-tax investment income of $127 million. The Board increased the quarterly common stock dividend by 12% to $0.48 per share and approved a new $200 million share repurchase authorization. Selective Insurance Group is a property and casualty insurance company offering standard and specialty coverage through independent agents.