SAFETY INSURANCE GROUP INC

For the period ended Sep 30, 2024. Filed Nov 8, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 8, 2024

SAFT$104.40+0.1%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Consolidated Balance Sheets

(Dollars in thousands, except share data)


· September 30, · December 31,
· · 2024 · · 2023
· · (Unaudited) · · ·
Assets
Investments:
Fixed maturities, available for sale, at fair value (amortized cost: $1,141,326 and $1,120,682, allowance for expected credit losses of $1,545 and $1,208)	$1,098,984	$1,052,145
Short-term investments, at fair value (cost: $19,729 and $0)	19,729	—
Equity securities, at fair value (cost: $195,247 and $221,809)	226,340	238,022
Other invested assets	157,883	133,946
Total investments	1,502,936	1,424,113
Cash and cash equivalents	62,598	38,152
Accounts receivable, net of allowance for expected credit losses of $701 and $1,053	311,443	256,687
Receivable for securities sold	2	124
Accrued investment income	7,646	7,261
Taxes recoverable	2,233	623
Receivable from reinsurers related to paid loss and loss adjustment expenses	26,880	13,129
Receivable from reinsurers related to unpaid loss and loss adjustment expenses	131,596	112,623
Ceded unearned premiums	37,682	32,346
Deferred policy acquisition costs	106,517	91,917
Deferred income taxes	4,837	12,150
Equity and deposits in pools	9,691	35,247
Operating lease right-of-use-assets	16,845	19,756
Goodwill	17,093	17,093
Intangible assets	7,967	7,551
Other assets	24,672	25,232
Total assets	$2,270,638	$2,094,004

Liabilities
Loss and loss adjustment expense reserves	$644,175	$603,081
Unearned premium reserves	621,975	528,150
Accounts payable and accrued liabilities	69,039	64,235
Payable for securities purchased	6,867	1,863
Payable to reinsurers	30,296	15,941
Short-term debt	30,000	—
Long-term debt	—	30,000
Operating lease liabilities	16,845	19,756
Other liabilities	—	26,711
Total liabilities	1,419,197	1,289,737

Commitments and contingencies (Note 8)

Shareholders’ equity
Common stock: $0.01 par value; 30,000,000 shares authorized; 17,995,584 and 17,949,484 shares issued	180	179
Additional paid-in capital	229,891	226,380
Accumulated other comprehensive loss, net of taxes	(32,230)	(53,191)
Retained earnings	803,893	781,192
Treasury stock, at cost: 3,157,577 shares	(150,293)	(150,293)
Total shareholders’ equity	851,441	804,267
Total liabilities and shareholders’ equity	$2,270,638	$2,094,004

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