Safety Insurance Q2 net income rises to $34.5 million; Mapfre deal at $105 a share
Safety Insurance Group reported second quarter 2026 net income of $34.5 million, or $2.36 per diluted share, up from $28.9 million, or $1.95, a year earlier, while the combined ratio improved to 95.7%. The filing also restates the pending all-cash acquisition by a Mapfre affiliate at $105 per share, which the company describes as a 44% premium to its July 23, 2026 stock price, and a $0.92 quarterly dividend. Net income for the six months fell to $20.2 million from $50.8 million, driven by losses from severe winter weather in the first quarter.
Key points
- Q2 2026 net income $34.5 million, or $2.36 per diluted share, versus $28.9 million, or $1.95, in Q2 2025
- Combined ratio 95.7% for Q2 2026 versus 98.1% a year earlier; six-month combined ratio rose to 104.5% from 98.8%
- Mapfre affiliate to acquire Safety for $105 per share in cash, a transaction valued at about $1.54 billion
- Quarterly dividend of $0.92 per share declared, payable September 15, 2026, to holders of record on September 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 August 05, 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.