Safety Insurance Q1 net income $20.1 million, up from $12.3 million loss a year earlier
Safety Insurance Group reported first quarter 2024 net income of $20.1 million, or $1.36 per diluted share, compared with a net loss of $12.3 million, or $0.84 per diluted share, a year earlier. Net earned premiums rose 23.1% to $236.1 million, and the combined ratio improved to 101.9% from 118.5%, which the company linked to prior-year growth and a severe weather event in the first quarter of 2023. The board also declared a $0.90 per share quarterly dividend payable June 14, 2024.
Key points
- Net income of $20.1 million, or $1.36 per diluted share, versus a net loss of $12.3 million, or $0.84 per diluted share, in Q1 2023
- Net earned premiums rose 23.1% to $236.1 million; combined ratio improved to 101.9% from 118.5%
- Q1 2023 losses included $32.1 million from a severe weather event
- Quarterly dividend of $0.90 per share payable June 14, 2024, to holders of record on June 3, 2024
The filing
Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 08, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.