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Safety Insurance Group Inc. reports recurring developments in property and casualty insurance across Massachusetts, New Hampshire and Maine. The company writes private passenger automobile, commercial automobile, homeowners, dwelling fire, umbrella and business owner policies through insurance subsidiaries including Safety Insurance Company, Safety Indemnity Insurance Company and Safety Property and Casualty Insurance Company.
News about SAFT centers on quarterly and annual results, underwriting measures such as combined ratio and loss ratios, premium and policy-count trends, property claims from severe weather, investment portfolio effects on book value, cash dividends, share repurchases and annual meeting timing.
Safety Insurance Group, Inc. (NASDAQ:SAFT) reported strong third quarter 2020 results, achieving net income of $44.7 million ($2.96 per diluted share), up from $15.6 million ($1.01 per diluted share) year-over-year. Year-to-date net income also rose to $85.2 million ($5.58 per diluted share) compared to $71.5 million ($4.64 per diluted share) in 2019. Despite challenges from COVID-19, with direct written premiums decreasing by 7.0% to $616.1 million, the company maintained effective cost management, reflected in a loss ratio of 49.8% for Q3 2020. A quarterly dividend of $0.90 per share is scheduled for payout on December 15, 2020.