Selective Insurance Q1 Net Income Falls 11% to $97.7M as Revenue Climbs
Selective Insurance Group (NASDAQ: SIGI), a property and casualty insurer, posted net income of $97.7 million for the first quarter of fiscal 2026, down from $109.9 million a year earlier.
Selective Insurance Group (NASDAQ: SIGI), a property and casualty insurer, reported net income of $97.7 million for the three months ending March 31, 2026, down 11% from $109.9 million in the same period a year earlier. Diluted earnings per share came in at $1.58, compared to $1.76 in the prior-year quarter. Read more earnings reports.
Total revenue for the quarter rose to $1.36 billion from $1.29 billion in the first quarter of fiscal 2025, a 6% increase. The company's insurance revenue climbed to $1.22 billion from $1.16 billion year-over-year, while other revenue expanded to $134.1 million from $120.9 million.
Income tax expense declined to $26.5 million from $29.0 million in the year-ago period. Labor and related expenses rose to $101.4 million for the quarter, up from $95.8 million a year earlier.
Balance Sheet and Cash Position
Total assets stood at $15.32 billion as of March 31, 2026, up from $15.16 billion at the end of December 2025. Cash and restricted cash fell sharply to $10.9 million at quarter-end from $18.0 million three months prior and $108.3 million a year earlier.
Total liabilities increased to $11.73 billion from $11.55 billion at the end of the previous quarter. Stockholders' equity dipped to $3.59 billion as of March 31, 2026, compared to $3.61 billion at December 31, 2025.
Cash Flow Activity
The company generated $221.4 million in cash from operations during the quarter, down from $284.0 million in the first quarter of fiscal 2025. Cash used in investing activities totaled $166.1 million, a significant improvement from the $584.9 million used a year earlier. Financing activities consumed $62.4 million in cash, contrasting with $346.2 million provided by financing in the prior-year period.
Common shares outstanding decreased to 59.9 million as of March 31, 2026, from 60.1 million at the end of December 2025. Treasury stock holdings increased to $778.5 million from $743.4 million during the quarter.
Key Financial Metrics
| Metric | Q1 FY2026 | Q1 FY2025 |
|---|---|---|
| Total Revenue | $1.36 billion | $1.29 billion |
| Net Income | $97.7 million | $109.9 million |
| Diluted EPS | $1.58 | $1.76 |
| Operating Cash Flow | $221.4 million | $284.0 million |
| Total Assets | $15.32 billion | N/A |
| Stockholders' Equity | $3.59 billion | $3.26 billion |