Safety Insurance Q1 net loss $0.84/share; combined ratio 118.5% on severe winter storm losses

SAFETY INSURANCE GROUP INC

2023-Q1 EPS reported -$0.84 revenue$213,759,000

Net loss $12.3M ($0.84 diluted loss) vs net income $7.8M ($0.53 EPS) in Q1 2022.
Combined ratio 118.5% (vs 98.7% YoY); $32.1M in water damage from 783 burst pipe claims in Feb storm.
Non-GAAP operating loss $0.87 per share vs $0.99 operating income in prior year.
Net written premiums up 13.9% to $202.9M on new business and rate increases.
Declares $0.90/share quarterly dividend, unchanged, payable June 15, record June 1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SAFETY INSURANCE GROUP INC reported quarter ended March 31, 2023 results: net income $12.3 million, or $0.84 per diluted share, EPS $0.84 per diluted share.

Period: quarter ended March 31, 2023
Net income: $12.3 million, or $0.84 per diluted share
EPS: $0.84 per diluted share
Result: reported results

Exact text from the filing

Net loss for the quarter ended March 31, 2023 was $12.3 million, or $0.84 per diluted share

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Source: SEC EDGAR

accession 0001172052-23-000017

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