Welcome to our dedicated page for Safety Ins Group news (Ticker: SAFT), a resource for investors and traders seeking the latest updates and insights on Safety Ins Group stock.
Safety Insurance Group, Inc. (NASDAQ: SAFT) is a Boston-based property and casualty insurer operating exclusively in Massachusetts, New Hampshire, and Maine. Through its insurance companies and agency, the group writes private passenger automobile, commercial automobile, homeowners, dwelling fire, umbrella and business owner policies. Its news flow centers on how these lines perform across underwriting, premiums, and investment results.
The Safety Insurance Group news page highlights the company’s quarterly and annual earnings releases, where management discusses combined ratios, loss and expense trends, net earned premiums, and book value per share. These updates often explain how policy count growth, rate increases, inflationary pressures, and weather events are affecting losses and profitability in the private passenger automobile and homeowners books.
Investors and analysts following SAFT can use this news stream to track developments in direct written premiums, net written premiums, and net investment income, as well as commentary on non-GAAP operating income. The company’s announcements also cover Board-approved quarterly cash dividends on common stock, providing context on capital returns alongside reported earnings.
In addition, Safety Insurance Group issues notices about the timing of its year-end results, Form 10-K filings, and annual shareholder meetings. By monitoring these news items in one place, readers can follow how the regional property and casualty insurer’s financial condition and operating performance evolve over time.
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Safety Insurance Group (NASDAQ: SAFT) announced leadership changes with the retirement of
Safety Insurance Group (NASDAQ:SAFT) reported its Q4 and full-year 2022 results, showing a combined ratio of 97.2% and GAAP earnings per diluted share of $3.15. The company’s net income for Q4 2022 was $24.6 million, down from $32.0 million in Q4 2021. For the year, net income fell to $46.6 million from $130.7 million in 2021. Despite challenges like inflation, direct written premiums increased by 10.9% in Q4 and 2.6% for the year. The company completed the acquisition of Northeast Insurance Agency to strengthen its market position.
The Board of Directors of Safety Insurance Group (NASDAQ:SAFT) has declared a $0.90 quarterly cash dividend per share, payable on March 15, 2023, to shareholders recorded by March 1, 2023. The company is set to announce its fourth quarter and year-end 2022 results on February 22, 2023, with the Annual Report on Form 10-K due with the SEC by February 28, 2023. Safety operates in Massachusetts, New Hampshire, and Maine, offering a range of property and casualty insurance products, including automobile and homeowners insurance.
Safety Insurance Group (NASDAQ:SAFT) reported Q3 2022 net income of $6.2 million ($0.42/share), a drop from $24.8 million ($1.64/share) in Q3 2021. The decline was attributed to a $14.4 million decrease in unrealized gains on equity securities. The combined ratio for the quarter was 97.1%, reflecting disciplined underwriting amid inflationary pressures. Notably, direct written premiums grew 3.2% year-over-year to $217.9 million. The company also announced a $0.90 dividend payable on December 15, 2022. Book value per share decreased to $53.21 from $62.47 since December 2021.
Safety Insurance Group, Inc. (NASDAQ:SAFT) announced a non-binding Letter of Intent to acquire the assets and operations of Northeast Insurance Agency, Inc., expected to complete in Q4 2022. With over $40 million in policy premiums, Northeast has been a strategic partner for over 20 years. This acquisition aims to strengthen Safety's position in the independent agency market and enhance policyholder services. Following the acquisition, Northeast will continue as a stand-alone operation under its current leadership, with employees joining Safety's subsidiary.
Safety Insurance Group, Inc. (NASDAQ:SAFT) reported its Q2 2022 results, showing a net income of $7.9 million ($0.53 per diluted share), down significantly from $37.7 million ($2.49) in Q2 2021. The combined ratio was 92.1%, indicating strong underwriting discipline. The firm reversed a $6.5 million legal reserve due to a favorable court ruling. Direct written premiums fell by 1.2% to $214.6 million. However, net investment income rose by 19% to $11.6 million, driven by higher interest rates. A quarterly dividend of $0.90 per share was approved, payable on September 15, 2022.
Safety Insurance Group, Inc. (NASDAQ: SAFT) announced a change for its 2022 Annual Meeting of Shareholders, now scheduled for June 1, 2022, at 10:00 a.m. Shareholders can dial in to listen via teleconference at (866) 705-2554, using participation code 410073. Voting procedures remain unchanged, with proxy materials previously distributed still applicable for voting. For further information, shareholders can refer to the company's proxy materials and the December 31, 2021, Form 10-K filed with the SEC on February 28, 2022.