Selective Insurance Group Inc. Declares Cash Dividend, Payable on March 2, 2015; Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for 2015
January 30, 2015 at 03:11 am IST
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Selective Insurance Group Inc. Board of Directors declared a $0.14 per share quarterly cash dividend on common stock payable March 2, 2015 to stockholders of record as of February 13, 2015.
The company reported unaudited consolidated financial results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported total revenues of $503,583,000 against $488,034,000 for the same period in the last year. Income from continuing operations, before federal income tax was $57,200,000 against $34,248,000 for the same period in the last year. Net income from continuing operations was $41,350,000 or $0.72 per diluted share against $25,335,000 or $0.44 per diluted share for the same period in the last year. Net income was $41,350,000 or $0.72 per diluted share against $25,335,000 or $0.44 per diluted share for the same period in the last year. Operating income was $41,603,000 or $0.72 per diluted share against $21,120,000 or $0.44 per diluted share for the same period in the last year. Net premiums written were $433,586,000 against $405,110,000 for the same period in the last year. Book value per share was $22.54 as at December 31, 2014 against $20.63 as at December 31, 2013. Net investment income, after tax, was $24.5 million or $0.43 per diluted share compared to $26.4 million or $0.46 per diluted share for the same period in the last year.
For the year, the company reported total revenues of $2,034,861,000 against $1,903,741,000 for the same period in the last year. Income from continuing operations, before federal income tax was $197,131,000 against $143,802,000 for the same period in the last year. Net income from continuing operations was $141,827,000 or $2.52 per diluted share against $107,415,000 or $1.89 per diluted share for the same period in the last year. Net income was $141,827,000 or $2.47 per diluted share against $106,418,000 or $1.87 per diluted share for the same period in the last year. Net cash provided by operating activities was $232,763,000 against $336,124,000 for the same period in the last year. Purchase of property and equipment was $15,510,000 against $14,023,000 for the same period in the last year. Operating income was $124,538,000 or $2.47 per diluted share against $93,939,000 or $1.65 per diluted share for the same period in the last year. Net premiums written were $1,885,280,000 against $1810,159,000 for the same period in the last year. Net investment income, after tax, was $104.2 million or $1.82 per diluted share compared to $101.4 million or $1.79 per diluted share for the same period in the last year.
For 2015, the company expects to generate a full-year statutory combined ratio of 91.0%, excluding catastrophes and any prior year casualty reserve development. Selective currently estimates 4 points of catastrophe losses for 2015. After-tax investment income will be approximately $105 million and weighted average shares at year end are anticipated to be approximately 58 million.
Selective Insurance Group, Inc. is a holding company, which owns ten property and casualty insurance subsidiaries that sell products and services only in the United States. The Company's segments include Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. The Standard Commercial Lines segment includes property and casualty insurance products and services to commercial enterprises, typically businesses, non-profit organizations, and local government agencies. The Standard Personal Lines segment consists of property and casualty insurance products and services, including flood insurance coverage sold through the Write Your Own program of the National Flood Insurance Program. The E&S Lines segment consists of property and casualty insurance products and services to commercial customers unable to obtain coverage in the standard marketplace. The Investment segment invests insurance premiums and amounts generated through its capital management strategies.
Selective Insurance Group Inc. Declares Cash Dividend, Payable on March 2, 2015; Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for 2015
SELECTIVE INSURANCE GROUP, INC. 
