Selective posts cat-loss setback ahead of Q1 results

Selective Insurance Group recorded $26mn in net pre-tax catastrophe
losses in the first quarter, mainly from an early January blizzard
that hit the US Northeast and several Nor'easters that struck
the region last month.
In addition, Selective said it had higher-than-expected non-cat
property losses for the period because of freezing weather and a
large number of severe fire losses. In all, the Branchville, New
Jersey-based company said property losses were $33mn over
expectations.
The losses wil