SAFETY INSURANCE GROUP INC

For the period ended Mar 31, 2025. Filed May 9, 2025.

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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.

Mar 31, 2025 · Filed May 9, 2025

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

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Consolidated Balance Sheets

(Dollars in thousands, except share data)


· March 31, · December 31,
· · 2025 · · 2024
· · (Unaudited) · · ·
Assets
Investments:
Fixed maturities, available for sale, at fair value (amortized cost: $1,190,688 and $1,181,038, allowance for expected credit losses of $1,519 and $1,198)	$1,140,093	$1,115,218
Short-term investments, at fair value (cost: $0 and $19,970)	—	19,975
Equity securities, at fair value (cost: $202,623 and $201,258)	222,516	221,422
Other invested assets	158,574	156,444
Total investments	1,521,183	1,513,059
Cash and cash equivalents	64,708	58,974
Accounts receivable, net of allowance for expected credit losses of $785 and $918	306,408	306,465
Receivable for securities sold	496	568
Accrued investment income	7,866	7,426
Receivable from reinsurers related to paid loss and loss adjustment expenses	35,103	26,386
Receivable from reinsurers related to unpaid loss and loss adjustment expenses	136,510	130,792
Ceded unearned premiums	41,553	41,413
Deferred policy acquisition costs	104,902	105,474
Deferred income taxes	7,683	11,200
Equity and deposits in pools	4,489	3,740
Operating lease right-of-use-assets	14,673	15,733
Goodwill	17,093	17,093
Intangible assets	7,493	7,730
Other assets	21,142	24,037
Total assets	$2,291,302	$2,270,090

Liabilities
Losses and loss adjustment expense reserves	$682,717	$671,669
Unearned premium reserves	622,146	619,916
Accounts payable and accrued liabilities	59,524	77,276
Payable for securities purchased	9,913	6,949
Payable to reinsurers	20,442	19,074
Taxes payable	1,220	1,009
Short-term debt	—	30,000
Long-term debt	30,000	—
Operating lease liabilities	14,673	15,733
Total liabilities	1,440,635	1,441,626

Commitments and contingencies (Note 8)

Shareholders’ equity
Common stock: $0.01 par value; 30,000,000 shares authorized; 18,051,280 and 17,995,584 shares issued	181	180
Additional paid-in capital	232,264	230,864
Accumulated other comprehensive loss, net of taxes	(38,771)	(51,047)
Retained earnings	807,286	798,760
Treasury stock, at cost: 3,157,577 shares	(150,293)	(150,293)
Total shareholders’ equity	850,667	828,464
Total liabilities and shareholders’ equity	$2,291,302	$2,270,090

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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.