BRANCHVILLE, N.J. (AP) — BRANCHVILLE, N.J. (AP) — Selective Insurance Group Inc. (SIGI) on Wednesday reported first-quarter net income of $97.7 million.
On a per-share basis, the Branchville, New Jersey-based company said it had net income of $1.58. Earnings, adjusted for investment costs, came to $1.69 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.
The insurance holding company posted revenue of $1.36 billion in the period. Its adjusted revenue was $1.37 billion, matching Street forecasts.
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