SAFETY INSURANCE GROUP INC
For the period ended Sep 30, 2026. Filed Nov 6, 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.
Sep 30, 2026 · Filed Nov 6, 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
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Nine Months Ended September 30, | ||||||
| · · 2026 · · 2025 | ||||||
| Cash flows from operating activities: | | | | | | |
| Net income | | $50,213 | | $79,143 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | |
| Investment amortization, net | | (939) | | (1,117) | ||
| Fixed asset depreciation, net | | 4,142 | | 5,400 | ||
| Stock based compensation | | | 4,000 | | | 3,683 |
| Credit for deferred income taxes | | 869 | | (1,246) | ||
| Net realized gains on investments | | (18,402) | | (7,732) | ||
| Credit loss expense | | | 351 | | | (232) |
| Earnings from partnership investments | | (10,301) | | 1,996 | ||
| Change in net unrealized gains on equity securities | | | 15,276 | | | (13,233) |
| Changes in assets and liabilities: | | | | | | |
| Accounts receivable, net | | (4,364) | | (26,713) | ||
| Accrued investment income | | (485) | | (2,008) | ||
| Receivable from reinsurers | | (18,106) | | (15,494) | ||
| Ceded unearned premiums | | (3,558) | | 1,697 | ||
| Deferred policy acquisition costs | | (1,833) | | (10,261) | ||
| Taxes recoverable/payable | | | (9,879) | | | 176 |
| Other assets | | (6,171) | | (3,046) | ||
| Losses and loss adjustment expense reserves | | 58,286 | | 48,143 | ||
| Unearned premium reserves | | 12,156 | | 55,949 | ||
| Accounts payable and accrued liabilities | | (9,836) | | (4,136) | ||
| Payable to reinsurers | | 17,572 | | 9,979 | ||
| Net cash provided by operating activities | | 78,991 | | 120,948 | ||
| | | | | | | |
| Cash flows from investing activities: | | | | | | |
| Fixed maturities purchased | | (334,933) | | (289,008) | ||
| Equity securities purchased | | (72,521) | | (54,194) | ||
| Other invested assets purchased | | (4,055) | | (6,073) | ||
| Proceeds from sales and paydowns of fixed maturities | | 193,944 | | 128,523 | ||
| Proceeds from maturities, redemptions, and calls of fixed maturities | | 21,897 | | 55,478 | ||
| Proceeds from maturities of short-term investments | | | — | | | 20,000 |
| Proceeds from sales of equity securities | | 137,746 | | 54,981 | ||
| Proceeds from other invested assets redeemed | | | 4,791 | | | 7,417 |
| Fixed assets purchased | | (3,426) | | (400) | ||
| Net cash used for investing activities | | (56,557) | | (83,276) | ||
| | | | | | | |
| Cash flows from financing activities: | | | | | | |
| Proceeds from Citizens loan | | — | | 30,000 | ||
| Payments on FHLB loan | | — | | (30,000) | ||
| Dividends paid to shareholders | | (40,318) | | (40,413) | ||
| Net cash used for financing activities | | (40,318) | | (40,413) | ||
| | | | | | | |
| Net (decrease) increase in cash and cash equivalents | | (17,884) | | (2,741) | ||
| Cash and cash equivalents at beginning of year | | 73,901 | | 58,974 | ||
| Cash and cash equivalents at end of period | | $56,017 | | $56,233 | ||
| | | | | | | |
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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