Selective Insurance Group stunned markets with a Q2 report that crushed revenue and profit forecasts—but investors stayed cool. The insurer credits smart underwriting and portfolio tweaks for soaring 11.7% operating margins, even as net premiums dipped. Revenue hit $1.39B, EPS reached $1.95, and analysts praised efficiency gains. Yet, tort reform’s modest impact and cautious pricing kept growth restrained. Management clarified declining commercial property premiums stem from broad underwriting discipline, not specific risks. They’re watching tech-driven improvements and competitive shifts in auto and liability lines, all while boosting investment income. It’s a tightrope walk: growing profitably without overextending in a volatile market.
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