Safety Insurance Q1 turns to net loss of $14.32 million; revenue rises to $314.67 million

Safety Insurance Group, Inc.

Safety Insurance Group, Inc.

SAFT

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  • Safety Insurance Group swung to a net loss of $14.32 million, or $(0.99) per share, as total expenses climbed to $332.53 million.
  • Revenue rose 4.39% to $314.67 million, while losses and loss adjustment expenses increased 30.1% to $247.49 million.
  • Combined ratio widened 14 percentage points to 113.4%, reflecting an 85.1% loss ratio.
  • Direct written premiums edged up 0.3% to $299.78 million, while net investment income increased 16.9% to $17.04 million.
  • Two winter storms generated about 1,650 claims totaling $42.74 million of losses and loss adjustment expenses.


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