SIGI Latest Report

Performance Review

Selective Insurance's total operating revenue reached Rmb1,256,394,000 as of December 31, 2024, up 13.11% from Rmb1,110,681,000 as of December 31, 2023. This growth reflects the company's strong performance in market expansion and sales capacity, possibly related to increased market demand, optimized product portfolio, and effective marketing strategies.

Key Financial Data

1. A 13.11% increase in total operating revenue indicates the company's success in sales and market expansion.

2. A 9% increase in net premium income suggests good performance in renewal and customer retention.

3. The combined ratio of 99.5% despite the impact of disaster losses reflects the company's continuous efforts in risk management.

4. New product launches, including catastrophe insurance and environmental pollution liability insurance, meet market demand and expand into new areas.

Peer Comparison

1. Industry-wide analysis: The overall revenue growth of the insurance industry is related to the improvement of the economic environment, policy support, and market competition. In 2024, the industry's overall revenue generally increased, showing a recovery trend.

2. Peer evaluation analysis: Selective Insurance's 13.11% revenue growth is higher than the industry average, demonstrating its competitiveness in the market and good management capabilities. Its revenue growth performance is noteworthy compared to other companies.

Summary

Selective Insurance's total operating revenue significantly increased in 2024, indicating its ability to maintain a certain advantage in the market competition. The company achieved more customers through optimized product portfolio, effective marketing strategies, and market expansion, driving revenue growth.

Opportunities

1. Continue to expand market share, especially in newly opened states, to further boost revenue.

2. Utilize new products (such as catastrophe insurance and environmental pollution liability insurance) to meet market demand and expand the customer base.

3. Further explore the potential of the small business market through enhanced small business platforms.

4. Continue to optimize marketing strategies and deepen relationships with distribution partners to enhance market position.

Risks

1. Increased market competition may affect the sustainability of revenue growth.

2. Disaster losses may affect the company's combined ratio and increase financial risk.

3. Changes in the economic environment and policy uncertainties may affect the overall profitability of the insurance industry.

4. The market acceptance of new products is uncertain, which may affect expected revenue growth.