SAFETY INSURANCE GROUP INC
For the period ended Mar 31, 2026. Filed May 8, 2026.
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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, 2026 · Filed May 8, 2026
SAFT$104.49+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Three Months Ended March 31, | ||||||
| · · 2026 · · 2025 | ||||||
| Cash flows from operating activities: | | | | | | |
| Net (loss) income | | $(14,323) | | $21,896 | ||
| Adjustments to reconcile net income to net cash provided by (used for) operating activities: | | | | | | |
| Investment amortization, net | | (559) | | (226) | ||
| Fixed asset depreciation, net | | 1,369 | | 1,938 | ||
| Stock based compensation | | | 1,436 | | | 1,401 |
| Credit for deferred income taxes | | 2,200 | | 254 | ||
| Net realized gains on investments | | (6,631) | | (4,263) | ||
| Credit loss (benefit) expense | | | 348 | | | 321 |
| Earnings from partnership investments | | (3,905) | | (2,112) | ||
| Change in net unrealized gains on equity securities | | | 11,497 | | | 271 |
| Changes in assets and liabilities: | | | | | | |
| Accounts receivable, net | | 6,759 | | 57 | ||
| Accrued investment income | | 773 | | (440) | ||
| Receivable from reinsurers | | (5,081) | | (14,435) | ||
| Ceded unearned premiums | | (1,070) | | (140) | ||
| Deferred policy acquisition costs | | 3,276 | | 572 | ||
| Taxes payable | | | (11,713) | | | 211 |
| Other assets | | (3,763) | | 776 | ||
| Losses and loss adjustment expense reserves | | 51,350 | | 11,048 | ||
| Unearned premium reserves | | (14,484) | | 2,230 | ||
| Accounts payable and accrued liabilities | | (21,219) | | (17,554) | ||
| Payable to reinsurers | | (13,294) | | 1,368 | ||
| Net cash (used for) provided by operating activities | | (17,034) | | 3,173 | ||
| | | | | | | |
| Cash flows from investing activities: | | | | | | |
| Fixed maturities purchased | | (69,092) | | (38,170) | ||
| Equity securities purchased | | (30,311) | | (18,650) | ||
| Other invested assets purchased | | (1,779) | | (2,563) | ||
| Proceeds from sales and paydowns of fixed maturities | | 51,733 | | 17,255 | ||
| Proceeds from maturities, redemptions, and calls of fixed maturities | | 11,650 | | 13,747 | ||
| Proceeds from maturities of short-term investments | | | — | | | 20,000 |
| Proceed from sales of equity securities | | 50,968 | | 22,347 | ||
| Proceeds from other invested assets redeemed | | | 229 | | | 2,495 |
| Fixed assets purchased | | (1,842) | | (332) | ||
| Net cash provided by investing activities | | 11,556 | | 16,129 | ||
| | | | | | | |
| Cash flows from financing activities: | | | | | | |
| Proceeds from Citizens loan | | — | | 30,000 | ||
| Payments on FHLB loan | | — | | (30,000) | ||
| Dividends paid to shareholders | | (13,592) | | (13,568) | ||
| Net cash used for financing activities | | (13,592) | | (13,568) | ||
| | | | | | | |
| Net (decrease) increase in cash and cash equivalents | | (19,070) | | 5,734 | ||
| Cash and cash equivalents at beginning of year | | 73,901 | | 58,974 | ||
| Cash and cash equivalents at end of period | | $54,831 | | $64,708 | ||
| | | | | | | |
In this Form 10-Q, Notes to the Unaudited Consolidated Financial Statements, dollar amounts are presented in thousands, except per share data.
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