Selective Insurance Quarterly Profit Up Sharply
NU Online News Service, April 29, 3:36 p.m. EDT? Selective Insurance Group Inc. reported that higher prices and lower catastrophe losses pushed first-quarter net profit to $27.5 million, compared with $8 million during the corresponding period in 2003.[@@]
The Branchville, N.J-based company's operating income rose 341 percent for the quarter to $24.1 million, from $5.5 million reported one year earlier. The company said net premiums written rose 16 percent to $375.3 million in the quarter compared with the year-ago period.
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