Selective Insurance reports Q2 EPS $1.31, consensus $1.51

Reports Q2 revenue $1.327B, consensus $1.32B. “The combined ratio of 100.2% reflects continued pressures from elevated severities due to social inflation, which drove unfavorable prior year casualty reserve development in the quarter,” said John J. Marchioni, Chairman, President and Chief Executive Officer. “To address the continued elevated level of loss costs, we are diligently working to improve profitability through pricing and underwriting actions. Our unique operating model and franchise value distribution enable us to focus on appropriate risk selection and granular pricing. This quarter, our disciplined approach contributed to slowing top-line growth.”