Every material Form 8-K Safety Insurance Group filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Safety Insurance Group reported third quarter 2024 net income of $25.9 million, or $1.73 per diluted share, up from $1.9 million, or $0.13 per diluted share, a year earlier. Its combined ratio improved to 100.7% from 104.8%, and its board declared a $0.90 per share quarterly dividend, payable December 13, 2024.
Q3 2024 net income $25.9 million, or $1.73 per diluted share, versus $1.9 million, or $0.13, in Q3 2023
Q3 2024 total revenue $295.3 million versus $229.4 million a year earlier
Combined ratio 100.7% for Q3 2024, down from 104.8%; losses and loss adjustment expenses rose to $182.5 million
Quarterly dividend of $0.90 per share declared, payable December 13, 2024 to holders of record on December 2, 2024
Safety Insurance Group reported second quarter 2024 net income of $16.6 million, or $1.13 per diluted share, down slightly from $17.0 million, or $1.15 per share, a year earlier. Net earned premiums rose 22.1% to $246.9 million, while the combined ratio improved to 99.9% from 101.9%, helped by a $9.7 million favorable effect from the Massachusetts FAIR Plan restructuring. The board also declared a $0.90 quarterly dividend.
Q2 2024 net income was $16.6 million, or $1.13 per diluted share, versus $17.0 million, or $1.15, in Q2 2023
Non-GAAP operating income per diluted share was $1.18, compared with $0.80 a year earlier
Losses and loss adjustment expenses rose 20.4% to $172.7 million; the combined ratio was 99.9% versus 101.9%
Quarterly dividend of $0.90 per share is payable September 13, 2024, to holders of record on September 3, 2024
Safety Insurance Group appointed Mary F. McConnell as Vice President of Underwriting, effective July 1, 2024, replacing James D. Berry, who previously said he intends to retire. The filing describes this as a routine officer appointment with a one-year employment contract at a $240,000 annual salary.
Mary F. McConnell, 40, appointed Vice President of Underwriting effective July 1, 2024
Replaces James D. Berry, who previously communicated his intention to retire
Has been Director of Product Management since 2019 and joined the insurance subsidiaries in 2006
One-year employment contract, renewable annually with Board approval, at $240,000 annual compensation
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.
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
Safety Insurance Group disclosed that James D. Berry, its Vice President of Underwriting, has communicated his intention to retire effective July 1, 2024. The filing says Berry has been employed by the company's insurance subsidiaries for over 42 years and does not describe a successor or any financial terms.
James D. Berry, Vice President of Underwriting, communicated his intention to retire on April 22, 2024.
Retirement is effective July 1, 2024.
Berry has been employed by the insurance subsidiaries for over 42 years.
The filing does not name a replacement or describe compensation arrangements.
Safety Insurance Group reported fourth quarter 2023 net income of $12.3 million, or $0.83 per diluted share, down from $24.6 million, or $1.67, a year earlier, while Q4 total revenue rose to $258.4 million from $226.6 million. The combined ratio rose to 106.5% from 100.7%, and the company cited inflation and a December wind event, so profit per share fell even as premiums grew. Vice President of Insurance Operations Ann M. McKeown will retire and Brian S. Lam will succeed her, both effective March 1, 2024.
Q4 2023 net income was $12.3 million, or $0.83 per diluted share, versus $24.6 million, or $1.67, in Q4 2022
Q4 2023 combined ratio was 106.5% versus 100.7%, including $12.0 million of losses from a December 18 wind event
Q4 2023 direct written premiums rose 22.2% to $246.1 million from $201.4 million
Brian S. Lam was appointed Vice President of Insurance Operations effective March 1, 2024, at an annual compensation of $235,000, succeeding Ann M. McKeown, who is retiring
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.
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