BRANCHVILLE, N.J. (AP) _ Selective Insurance Group Inc. (SIGI) on Wednesday reported second-quarter net income of $34.2 million.
On a per-share basis, the Branchville, New Jersey-based company said it had net income of 57 cents. Earnings, adjusted for investment gains, came to 40 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The insurance holding company posted revenue of $682.4 million in the period. Its adjusted revenue was $669.8 million.
Selective Insurance shares have fallen 11% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $58.20, a decrease of 22% in the last 12 months.