Selective Insurance Group Q4 Profit Soars

(RTTNews) - Selective Insurance Group Inc. (SIGI) Thursday reported fourth-quarter profit of $25.3 million or $0.44 per share, compared to $1.3 million or $0.02 per share in the same period last year.

Operating income was $26.12 million or $0.45 per share, compared to operating loss of $2.3 million, or $0.04 per share in the year-ago period. On average, six analysts polled by Thomson Reuters expected the company to earn $0.44 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $488.03 million from $448.98 million last year.

Net premiums written increased to $405.11 million from $370.63 million last year. Net investment income totaled $35.31 million, up from $34.59 million last year.

Analysts expected revenues of $397.06 million.

Selective's Board of Directors declared a $0.13 per share quarterly cash dividend on common stock payable March 3, 2014 to stockholders of record as of February 14, 2014.