Safety Insurance Group, Inc.
67.37-1.56 (-2.26%)
Oct 29, 4:00:01 PM EDT · NasdaqGS · SAFT · USD
Key Stats
Market Cap
1.00BP/E (TTM)
11.76Basic EPS (TTM)
5.73Dividend Yield
0.05%Recent Filings
10-Q
Q2 FY2025 results
Safety Insurance Group posted solid Q2 FY2025 results, with net earned premiums jumping 14.2% year-over-year to $282.1M, fueled by rate hikes and modest policy growth across auto and homeowners lines. The loss ratio improved to 68.8% from 70.0%, thanks to earned premium momentum outpacing rising severity, while the combined ratio dipped to 98.1% for underwriting profitability. Diluted EPS rose to $1.95 from $1.13, reconciling cleanly with 14.8M shares and no material anti-dilution; operating income climbed 24.6% to $21.5M (derived). Cash from operations hit $35.5M, bolstering $49.4M in cash equivalents, though a $30M Citizens Bank draw at SOFR+1.25% lifted debt—yet revolver availability remains ample with covenant compliance. Premiums swelled 9.6% y/y to $345.8M, 94% from Massachusetts. Competition in the Massachusetts auto market could squeeze margins further.
8-K
Q2 earnings beat, dividend up
Safety Insurance Group reported Q2 2025 net income of $28.9 million, or $1.95 per diluted share, up from $16.6 million last year, driven by 14.2% higher net earned premiums to $282.1 million and a combined ratio improving to 98.1% from 99.9%. Direct written premiums rose 9.6% to $345.8 million on rate hikes and policy growth, while net investment income climbed 16.5% to $15.7 million. The board hiked the quarterly dividend to $0.92 per share, payable September 15. Inflation pressures hit auto losses, yet earnings surged.
8-K
Annual meeting elects directors
Safety Insurance Group held its annual stockholder meeting on May 14, 2025, electing Deborah E. Gray and George M. Murphy as Class II directors for three-year terms, with Gray receiving 12,036,162 votes for and Murphy 12,241,549. Stockholders ratified Deloitte & Touche LLP as independent auditors for the year ending December 31, 2025, with overwhelming support of 13,938,035 votes. An advisory vote approved executive compensation, passing 12,146,063 to 218,745. Directors' elections ensure steady governance continuity.
10-Q
Q1 FY2025 results
Safety Insurance Group kicked off 2025 with net earned premiums climbing 15.5% year-over-year to $272.7M, fueled by rate hikes, better retention, and new business in its core Massachusetts auto and homeowners lines, while policy counts rose 1.3% in private passenger auto and 5.4% in homeowners. The loss ratio improved to 69.8% from 71.3%, thanks to $12.2M in favorable prior-year development mainly from fewer IBNR claims and milder severity in auto bodily injury; combined ratio tightened to 99.4%, edging into profitability. Diluted EPS hit $1.48, up 8.8% y/y, reconciling cleanly with 14.7M weighted shares after minor anti-dilution from performance grants. Cash swelled to $64.7M on $3.2M operating inflows, with $30M revolver draw refinancing maturing FHLB debt at SOFR+1.25%; free cash flow not disclosed in the 10-Q. Non-GAAP operating income reached $19.0M, up from $13.7M. Yet regulatory shifts in Massachusetts' residual markets could squeeze future margins.
8-K
Q1 earnings rise, premiums grow
Safety Insurance Group reported Q1 2025 net income of $21.9 million, or $1.48 per diluted share, up from $20.1 million, or $1.36 per share, in Q1 2024. Direct written premiums surged 11.8% to $299.0 million, fueled by policy count growth and rate hikes, while the combined ratio sharpened to 99.4% from 101.9%, thanks to better private passenger auto losses. Book value per share climbed to $57.12. The board declared a $0.90 quarterly dividend, payable June 13.
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