SAFETY INSURANCE GROUP INC

For the period ended Dec 31, 2024. Filed Feb 27, 2025.

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.

FY2024 · Filed Feb 27, 2025

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

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

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Contents

Balance Sheets

Consolidated Balance Sheet****s

(Dollars in thousands, except share data)


· December 31, · December 31,
· · 2024 · · 2023

Assets
Investments:
Fixed maturities, available for sale, at fair value (amortized cost: $1,181,038 and $1,120,682, allowance for expected credit losses of $1,198 and $1,208)	$1,115,218	$1,052,145
Short-term investments, at fair value (cost: $19,970 and $0)	19,975	—
Equity securities, at fair value (cost: $201,258 and $221,809)	221,422	238,022
Other invested assets	156,444	133,946
Total investments	1,513,059	1,424,113
Cash and cash equivalents	58,974	38,152
Accounts receivable, net of allowance for expected credit losses of $918 and $1,053	306,465	256,687
Receivable for securities sold	568	124
Accrued investment income	7,426	7,261
Taxes recoverable	—	623
Receivable from reinsurers related to paid loss and loss adjustment expenses	26,386	13,129
Receivable from reinsurers related to unpaid loss and loss adjustment expenses	130,792	112,623
Ceded unearned premiums	41,413	32,346
Deferred policy acquisition costs	105,474	91,917
Deferred income taxes	11,200	12,150
Equity and deposits in pools	3,740	35,247
Operating lease right-of-use-assets	15,733	19,756
Goodwill	17,093	17,093
Intangible assets	7,730	7,551
Other assets	24,037	25,232
Total assets	$2,270,090	$2,094,004

Liabilities
Losses and loss adjustment expense reserves	$671,669	$603,081
Unearned premium reserves	619,916	528,150
Accounts payable and accrued liabilities	77,276	64,235
Payable for securities purchased	6,949	1,863
Payable to reinsurers	19,074	15,941
Taxes payable	1,009	—
Short-term debt	30,000	—
Long-term debt	—	30,000
Operating lease liabilities	15,733	19,756
Other liabilities	—	26,711
Total liabilities	1,441,626	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	230,864	226,380
Accumulated other comprehensive loss, net of taxes	(51,047)	(53,191)
Retained earnings	798,760	781,192
Treasury stock, at cost: 3,157,577 shares	(150,293)	(150,293)
Total shareholders’ equity	828,464	804,267
Total liabilities and shareholders’ equity	$2,270,090	$2,094,004

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.