---
schema_version: "secwatch.filing_event.v1"
accession: "0001172052-22-000045"
form_type: "8-K"
ticker: "SAFT"
cik: "0001172052"
company_name: "SAFETY INSURANCE GROUP INC"
filed_at: "2022-11-02T23:59:59+00:00"
generated_at: "2026-06-22T12:13:29.167373+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Safety Insurance Q3 net income falls to $6.2M; declares $0.90 dividend; signs LOI to acquire Northeast Insurance Agency

## Summary
- Net income $6.2M ($0.42 diluted) vs $24.8M ($1.64) in Q3 2021; non-GAAP operating income $1.13 diluted vs $1.70.
- Direct written premiums up 3.2% to $217.9M; combined ratio 97.1% vs 93.9% due to higher loss ratio (65.3% vs 61.3%).
- Book value per share $53.21, down from $62.47 at Dec 2021 due to $115M decline in fixed maturity portfolio from rising rates.
- Board declares $0.90 quarterly dividend payable Dec 15, 2022 to holders of record Dec 1, 2022 (unchanged from Q3).
- Signed letter of intent to acquire Northeast Insurance Agency, Inc.; aims to strengthen independent agency channel.

## SEC filing metadata
- accession: 0001172052-22-000045
- form_type: 8-K
- ticker: SAFT
- cik: 0001172052
- company_name: SAFETY INSURANCE GROUP INC
- filed_at: 2022-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1172052/000117205222000045/0001172052-22-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1172052/000117205222000045/saft-20221102x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001172052-22-000045
- JSON: https://secwatch.observer/filing/0001172052-22-000045.json
- Plain text: https://secwatch.observer/filing/0001172052-22-000045.txt

## Key facts
- Earnings Releases
  SAFETY INSURANCE GROUP INC reported the nine months ended September 30, 2022 results: net income $21.9 million, EPS $1.48 per diluted share.
  - Period: the nine months ended September 30, 2022
  - Net income: $21.9 million
  - EPS: $1.48 per diluted share
  - Result: reported results
  source text: Net income for the nine months ended September 30, 2022 was $21.9 million, or $1.48 per diluted share, compared to net income of $98.7 million, or $6.58 per diluted share, for the comparable 2021 period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1172052/000117205222000045/0001172052-22-000045-index.htm
- Earnings Releases
  SAFETY INSURANCE GROUP INC reported the quarter ended September 30, 2022 results: net income $6.2 million, EPS $0.42 per diluted share.
  - Period: the quarter ended September 30, 2022
  - Net income: $6.2 million
  - EPS: $0.42 per diluted share
  - Result: reported results
  source text: Net income for the quarter ended September 30, 2022 was $6.2 million, or $0.42 per diluted share, compared to net income of $24.8 million, or $1.64 per diluted share, for the comparable 2021 period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1172052/000117205222000045/0001172052-22-000045-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.