secwatch.observer — SEC 8-K summary
======================================

Issuer:     SAFETY INSURANCE GROUP INC (SAFT)
CIK:        0001172052
Form:       8-K
Filed at:   2022-05-04T23:59:59+00:00
Accession:  0001172052-22-000026
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Safety Insurance Q1 net income drops 78% to $7.8M; combined ratio hits 98.7%
----------------------------------------------------------------------------

- Net income $7.8M ($0.53 diluted EPS) vs $36.2M ($2.42) in Q1 2021; non-GAAP op. income $0.99 vs $1.93.
- Combined ratio 98.7% (loss ratio 65.8%) vs 91.5% (57.8%) due to return to pre-pandemic frequency and inflation.
- Direct written premiums down 1.4% to $189.5M; net earned premiums down 3.0% to $187.1M.
- Board declared $0.90 quarterly dividend payable June 15, 2022 to holders of record June 1, 2022.
- Book value per share fell to $58.47 from $62.47; repurchased 170,904 shares for $14.6M in Q1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1172052/000117205222000026/0001172052-22-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1172052/000117205222000026/saft-20220504x8k.htm
  HTML page:      https://secwatch.observer/filing/0001172052-22-000026

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer