Earnings Call Summary | Selective Insurance(SIGI.US) Q1 2024 Earnings Conference
Earnings Call Summary | Selective Insurance(SIGI.US) Q1 2024 Earnings Conference
The following is a summary of the Selective Insurance Group, Inc. (SIGI) Q1 2024 Earnings Call Transcript:
以下是選擇性保險集團有限公司（SIGI）2024年第一季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Selective Insurance Group reported an operating ROE of 11.7% in Q1 2024, a 16% expansion in net premiums written, and a Q1 EPS of $1.31, down 11% from a year ago.
The company's combined ratio was reported to be 98.2%, contributing to the drag in the operating ROE.
Unfavorable casualty reserve development of $35 million impacted results by reducing the annualised operating ROE by 4 points and adding 3.3 points to the combined ratio.
After-tax net investment income increased to $86 million, up 17% from last year and contributing 12.3 points to ROE.
The company maintains a strong capital position with GAAP equity exceeding $3 billion and a statutory surplus of $2.8 billion.
選擇性保險集團報告稱，2024年第一季度的營業投資回報率爲11.7％，淨保費增長16％，第一季度每股收益爲1.31美元，比去年同期下降11％。
據報道，該公司的合併比率爲98.2％，這加劇了運營投資回報率的拖累。
3,500萬美元的意外傷害準備金的不利發展使年化運營投資回報率降低了4個百分點，合併比率增加了3.3個百分點，從而影響了業績。
稅後淨投資收入增至8,600萬美元，比去年增長17％，爲投資回報率貢獻了12.3個百分點。
該公司保持強勁的資本狀況，GAAP股權超過30億美元，法定盈餘爲28億美元。
Business Progress:
業務進展：
The company has expanded its footprint to 32 states and plans to add Oregon, Washington, and Nevada in 2024.
Transitioning towards the mass affluent market in Personal Lines resulted in a 17% increase in net premiums written and a combined ratio improvement of 10.9 points from the first quarter of 2023.
The company forecasts a rise in the GAAP combined ratio to 96.5% for 2024, reflecting the impact of reserve adjustments made in Q1.
Renewal premium change for commercial lines was 12.3%, indicating a stable retention.
The company is implementing improvement strategies on the Personal Lines book and expects full-year pricing to be in excess of 20%.
The company is in the early stages of renewing its casualty reinsurance program to manage individual large loss and catastrophe exposures.
該公司已將其業務範圍擴大到32個州，並計劃在2024年增加俄勒岡州、華盛頓州和內華達州。
與2023年第一季度相比，個人保險向大衆富裕市場過渡導致淨保費增長了17％，綜合比率提高了10.9個百分點。
該公司預測，2024年的GAAP合併比率將上升至96.5％，這反映了第一季度儲備金調整的影響。
商業線路的續訂保費變化爲12.3％，表明保有率穩定。
該公司正在對個人專線賬目實施改進策略，預計全年定價將超過20％。
該公司正處於續訂意外傷害再保險計劃的初期階段，該計劃旨在管理個人的巨額損失和災難風險。
More details: Selective Insurance IR
更多詳情： 選擇性保險 IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。