Safety Q1 net loss of $14.3 million on winter storms; combined ratio rises to 113.4%
Safety Insurance Group reported a first quarter 2026 net loss of $14.3 million, or $0.99 per diluted share, compared with net income of $21.9 million, or $1.48 per diluted share, a year earlier. Two winter weather events in January and February drove higher claims, although total revenue rose 4.4% and the Board declared a $0.92 quarterly dividend. Book value per share fell to $58.28 at March 31, 2026 from $60.98 at December 31, 2025.
Key points
- Net loss of $14.3 million, or $0.99 per diluted share, versus net income of $21.9 million, or $1.48 per diluted share, in Q1 2025
- Winter weather events produced more than 1,600 property claims totaling $42.7 million, adding 14.6 percentage points to the 113.4% combined ratio (99.4% a year earlier)
- Total revenue rose to $314.7 million from $301.4 million; net earned premiums increased 6.7% to $291.0 million
- Quarterly dividend of $0.92 per share payable June 12, 2026 to shareholders of record June 1, 2026
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:57 AM ET, from the text of the filing and its press-release exhibits 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 06, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.