vs
Side-by-side financial comparison of SELECTIVE INSURANCE GROUP INC (SIGI) and HANOVER INSURANCE GROUP, INC. (THG). Click either name above to swap in a different company.
HANOVER INSURANCE GROUP, INC. is the larger business by last-quarter revenue ($1.7B vs $1.4B, roughly 1.2× SELECTIVE INSURANCE GROUP INC). HANOVER INSURANCE GROUP, INC. runs the higher net margin — 11.9% vs 7.2%, a 4.7% gap on every dollar of revenue. On growth, SELECTIVE INSURANCE GROUP INC posted the faster year-over-year revenue change (5.7% vs 5.5%). Over the past eight quarters, SELECTIVE INSURANCE GROUP INC's revenue compounded faster (6.6% CAGR vs 3.8%).
Selective Insurance Group Inc. is a U.S.-based insurance holding company that provides a comprehensive portfolio of property and casualty insurance products, including personal auto, home insurance, commercial property, liability, and workers' compensation coverage. It primarily serves small and medium-sized businesses, individual consumers, and nonprofits across the U.S., distributing offerings via a network of independent insurance agents.
The Hanover Insurance Group, Inc. is an insurance company based in Worcester, Massachusetts. It was the original name of a property-liability insurance firm established in 1852, and it remained a publicly traded company under that name until the early 1990s, when it changed its name to Allmerica Property & Casualty Companies.
SIGI vs THG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.7B |
| Net Profit | $97.7M | $198.5M |
| Gross Margin | — | — |
| Operating Margin | — | 17.3% |
| Net Margin | 7.2% | 11.9% |
| Revenue YoY | 5.7% | 5.5% |
| Net Profit YoY | -37.0% | 18.2% |
| EPS (diluted) | $1.58 | $5.46 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.4B | $1.7B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $1.3B | $1.7B | ||
| Q1 25 | $1.3B | $1.6B | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $1.2B | $1.6B | ||
| Q2 24 | $1.2B | $1.5B |
| Q1 26 | $97.7M | — | ||
| Q4 25 | $155.2M | $198.5M | ||
| Q3 25 | $115.3M | $178.7M | ||
| Q2 25 | $85.9M | $157.1M | ||
| Q1 25 | $109.9M | $128.2M | ||
| Q4 24 | $95.5M | $167.9M | ||
| Q3 24 | $92.3M | $102.1M | ||
| Q2 24 | $-63.3M | $40.5M |
| Q1 26 | — | — | ||
| Q4 25 | 14.4% | 17.3% | ||
| Q3 25 | 10.7% | 14.9% | ||
| Q2 25 | 8.2% | 12.7% | ||
| Q1 25 | 10.8% | 11.6% | ||
| Q4 24 | 9.5% | 16.1% | ||
| Q3 24 | 9.4% | 9.6% | ||
| Q2 24 | -6.7% | 6.2% |
| Q1 26 | 7.2% | — | ||
| Q4 25 | 11.4% | 11.9% | ||
| Q3 25 | 8.5% | 10.7% | ||
| Q2 25 | 6.5% | 9.5% | ||
| Q1 25 | 8.6% | 8.0% | ||
| Q4 24 | 7.6% | 10.6% | ||
| Q3 24 | 7.4% | 6.5% | ||
| Q2 24 | -5.3% | 2.6% |
| Q1 26 | $1.58 | — | ||
| Q4 25 | $2.52 | $5.46 | ||
| Q3 25 | $1.85 | $4.90 | ||
| Q2 25 | $1.36 | $4.30 | ||
| Q1 25 | $1.76 | $3.50 | ||
| Q4 24 | $1.53 | $4.60 | ||
| Q3 24 | $1.47 | $2.80 | ||
| Q2 24 | $-1.08 | $1.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $451.8M | $1.1B |
| Total DebtLower is stronger | $901.4M | $843.3M |
| Stockholders' EquityBook value | $3.6B | $3.6B |
| Total Assets | $15.3B | $16.9B |
| Debt / EquityLower = less leverage | 0.25× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $451.8M | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $915.7M | ||
| Q2 25 | — | $244.1M | ||
| Q1 25 | — | $315.1M | ||
| Q4 24 | — | $435.5M | ||
| Q3 24 | — | $427.1M | ||
| Q2 24 | — | $337.6M |
| Q1 26 | $901.4M | — | ||
| Q4 25 | — | $843.3M | ||
| Q3 25 | — | $843.0M | ||
| Q2 25 | — | $347.8M | ||
| Q1 25 | — | $722.5M | ||
| Q4 24 | $507.9M | $722.3M | ||
| Q3 24 | $508.2M | — | ||
| Q2 24 | $508.8M | — |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $3.6B | ||
| Q3 25 | $3.5B | $3.4B | ||
| Q2 25 | $3.4B | $3.2B | ||
| Q1 25 | $3.3B | $3.0B | ||
| Q4 24 | $3.1B | $2.8B | ||
| Q3 24 | $3.2B | $2.9B | ||
| Q2 24 | $2.9B | $2.6B |
| Q1 26 | $15.3B | — | ||
| Q4 25 | $15.2B | $16.9B | ||
| Q3 25 | $15.0B | $16.8B | ||
| Q2 25 | $14.5B | $15.7B | ||
| Q1 25 | $14.2B | $15.5B | ||
| Q4 24 | $13.5B | $15.3B | ||
| Q3 24 | $13.5B | $15.4B | ||
| Q2 24 | $12.6B | $14.9B |
| Q1 26 | 0.25× | — | ||
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.25× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | 0.16× | 0.25× | ||
| Q3 24 | 0.16× | — | ||
| Q2 24 | 0.17× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $378.2M |
| Free Cash FlowOCF − Capex | — | $377.0M |
| FCF MarginFCF / Revenue | — | 22.6% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | 1.91× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $376.3M | $378.2M | ||
| Q3 25 | $405.8M | $554.4M | ||
| Q2 25 | $166.9M | $206.6M | ||
| Q1 25 | $284.0M | $38.9M | ||
| Q4 24 | $332.2M | $213.5M | ||
| Q3 24 | $387.4M | $394.7M | ||
| Q2 24 | $266.1M | $139.5M |
| Q1 26 | — | — | ||
| Q4 25 | $366.3M | $377.0M | ||
| Q3 25 | $397.3M | $551.4M | ||
| Q2 25 | $159.7M | $204.9M | ||
| Q1 25 | $271.0M | $37.1M | ||
| Q4 24 | $324.7M | $210.5M | ||
| Q3 24 | $378.0M | $392.3M | ||
| Q2 24 | $258.4M | $137.3M |
| Q1 26 | — | — | ||
| Q4 25 | 26.8% | 22.6% | ||
| Q3 25 | 29.2% | 33.1% | ||
| Q2 25 | 12.0% | 12.4% | ||
| Q1 25 | 21.1% | 2.3% | ||
| Q4 24 | 25.8% | 13.3% | ||
| Q3 24 | 30.4% | 25.1% | ||
| Q2 24 | 21.6% | 8.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 0.1% | ||
| Q3 25 | 0.6% | 0.2% | ||
| Q2 25 | 0.5% | 0.1% | ||
| Q1 25 | 1.0% | 0.1% | ||
| Q4 24 | 0.6% | 0.2% | ||
| Q3 24 | 0.8% | 0.2% | ||
| Q2 24 | 0.6% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.42× | 1.91× | ||
| Q3 25 | 3.52× | 3.10× | ||
| Q2 25 | 1.94× | 1.32× | ||
| Q1 25 | 2.58× | 0.30× | ||
| Q4 24 | 3.48× | 1.27× | ||
| Q3 24 | 4.20× | 3.87× | ||
| Q2 24 | — | 3.44× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SIGI
Segment breakdown not available.
THG
| Personal Lines Segment | $684.6M | 41% |
| Core Commercial Lines Segment | $617.8M | 37% |
| Specialty Lines Segment | $377.9M | 23% |
