---
schema_version: "secwatch.filing_event.v1"
accession: "0001172052-23-000017"
form_type: "8-K"
ticker: "SAFT"
cik: "0001172052"
company_name: "SAFETY INSURANCE GROUP INC"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:20:47.739573+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001172052-23-000017
- form_type: 8-K
- ticker: SAFT
- cik: 0001172052
- company_name: SAFETY INSURANCE GROUP INC
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1172052/000117205223000017/0001172052-23-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1172052/000117205223000017/saft-20230503x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001172052-23-000017
- JSON: https://secwatch.observer/filing/0001172052-23-000017.json
- Plain text: https://secwatch.observer/filing/0001172052-23-000017.txt

## Key facts
- Earnings Releases
  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
  source text: Net loss for the quarter ended March 31, 2023 was $12.3 million, or $0.84 per diluted share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1172052/000117205223000017/0001172052-23-000017-index.htm

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