SAFETY INSURANCE GROUP INC

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

SAFT$104.27-0.1%Stored close · as of Nov 6, 2026

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Contents

Statements of Operations

Consolidated Statements of Operation****s

(Dollars in thousands, except per share data)


· · Years Ended December 31,
	2023		2022		2021

Net earned premiums		$834,414		$758,505		$774,328
Net investment income		56,377		46,725		44,135
Earnings from partnership investments		5,540		12,484		19,829
Net realized gains on investments		1,327		9,190		14,885
Change in unrealized gains on equity securities		7,502		(44,386)		16,130
Credit loss (expense) benefit		(530)		14		363
Commission income		6,932		566		—
Finance and other service income		19,394		14,461		15,241
Total revenue		930,956		797,559		884,911

Losses and loss adjustment expenses		642,302		491,979		461,727
Underwriting, operating and related expenses		256,580		245,145		258,392
Other expense		6,836		330		—
Interest expense		818		524		522
Total expenses		906,536		737,978		720,641

Income before income taxes		24,420		59,581		164,270
Income tax expense		5,545		13,020		33,560
Net income		$18,875		$46,561		$130,710

Earnings per weighted average common share:
Basic		$1.28		$3.17		$8.85
Diluted		$1.28		$3.15		$8.80

Cash dividends paid per common share		$3.60		$3.60		$3.60

Number of shares used in computing earnings per share:
Basic		14,663,730		14,607,483		14,828,736
Diluted		14,710,131		14,710,611		14,925,726

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.