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SAFT

Safety Insurance Group, Inc.

SAFT

Safety Insurance Group, Inc. • NASDAQ
$76.02 ▼ -1.27% (-0.98)
Market Cap $1.13 B
52w High $89.33
52w Low $67.04
Dividend Yield 3.62%
P/E 12.95
Volume 36.10K
Outstanding Shares 14.89M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $323.208M ▲ $82.016M ▼ $28.31M ▼ 8.759% ▼ $1.91 ▼ $38.125M ▼
Q2-2025 $315.932M ▲ $84.873M ▲ $28.937M ▲ 9.159% ▲ $1.95 ▲ $39.242M ▲
Q1-2025 $299.638M ▲ $81.118M ▼ $21.896M ▲ 7.307% ▲ $1.48 ▲ $30.272M ▲
Q4-2024 $284.699M ▼ $81.573M ▲ $8.131M ▼ 2.856% ▼ $0.55 ▼ $12.7M ▼
Q3-2024 $291.095M $75.701M $25.889M 8.894% $1.74 $35.424M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $657.929M ▲ $2.45B ▲ $1.55B ▲ $899.554M ▲
Q2-2025 $610.675M ▼ $2.364B ▲ $1.491B ▲ $873.264M ▲
Q1-2025 $612.546M ▲ $2.291B ▲ $1.441B ▼ $850.667M ▲
Q4-2024 $612.363M ▲ $2.27B ▼ $1.442B ▲ $828.464M ▼
Q3-2024 $82.327M $2.271B $1.419B $851.441M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $28.31M ▼ $85.452M ▲ $-65.059M ▼ $-13.569M ▼ $6.824M ▲ $85.452M ▲
Q2-2025 $28.937M ▲ $32.323M ▲ $-34.346M ▼ $-13.276M ▲ $-15.299M ▼ $32.255M ▲
Q1-2025 $21.896M ▲ $3.173M ▼ $16.129M ▲ $-13.568M ▼ $5.734M ▲ $2.841M ▼
Q4-2024 $8.131M ▼ $50.419M ▼ $-40.811M ▲ $-13.232M ▲ $-3.624M ▼ $50.264M ▼
Q3-2024 $25.977M $73.815M $-42.551M $-13.245M $18.019M $73.212M

Five-Year Company Overview

Income Statement

Income Statement Earnings have been through a small cycle. Revenue has grown steadily overall, with a clear acceleration in the most recent years, but profitability has been bumpier. Margins were strong at the start of the period, tightened meaningfully in the middle years (likely reflecting higher claims costs and pressure in auto and property), and then improved again most recently, though not yet back to the earlier peak. The pattern suggests a solid franchise that was hit by a tougher claims environment but is now regaining footing as pricing and underwriting catch up.

Balance Sheet

Balance Sheet The balance sheet looks conservative and steady. Total assets have edged up over time, cash has ticked higher, and debt remains very modest relative to the size of the company. Equity has been broadly stable with a small dip and then recovery, which is typical for an insurer navigating a few tough years of claims. Overall, the capital base appears sound and not overly stretched, giving Safety room to absorb shocks and keep investing in the business.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow tracks the earnings pattern—softer in the tougher years but improving again in the most recent period. Free cash flow is very close to operating cash flow because the business needs relatively little spending on physical assets. This points to a cash-generative model where most cash can support capital strength, dividends, or investments in technology rather than heavy brick‑and‑mortar build‑out.

Competitive Edge

Competitive Edge Safety holds a strong, regionally focused niche in New England, built around deep relationships with independent agents and long experience in its home markets. Its disciplined underwriting and local knowledge have produced decades of mostly profitable results, which is a key competitive advantage in insurance. However, the company is concentrated in a few states and faces intense competition from national carriers and digital‑first players, so maintaining its agent loyalty and underwriting discipline is crucial to sustaining its position.

Innovation and R&D

Innovation and R&D The company is clearly leaning into practical, operations‑focused innovation rather than headline‑grabbing experiments. Partnerships with technology providers are modernizing underwriting and claims, including faster digital payments and better communication tools for policyholders and agents. The internal Innovation Lab is turning pilot projects into real products, such as electronic claims payments, texting with adjusters, telematics for drivers, and smart‑home style monitoring concepts. These efforts aim to make Safety easier to do business with and more efficient, which can quietly strengthen its moat over time.

Summary

Safety Insurance looks like a classic regional insurer: steady, conservatively financed, with a clear local focus and long history of profitability. The recent years show the impact of a tougher claims and pricing environment, but the latest results suggest profitability is improving again as the company adjusts. Its main strengths are strong agent relationships, deep regional expertise, solid capital, and good cash generation. Key risks include geographic concentration, exposure to weather and auto‑related loss trends, and the pace of digital transformation in a very competitive industry. The company’s measured but real push into technology and process innovation is an important area to watch, as it may determine how well Safety translates its traditional strengths into future growth and more resilient margins.

NEWS

November 3, 2025 · 4:06 PM UTC

Safety Insurance Group, Inc. Announces Third Quarter 2025 Results and Declares Fourth Quarter 2025 Dividend

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