---
schema_version: "secwatch.filing_event.v1"
accession: "0001172052-23-000027"
form_type: "8-K"
ticker: "SAFT"
cik: "0001172052"
company_name: "SAFETY INSURANCE GROUP INC"
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T11:45:01.603505+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Safety Insurance Q2 net income $17M ($1.15/diluted), combined ratio 101.9% vs 92.1% YoY

## Summary
- Net income of $17.0M ($1.15/diluted) vs $7.9M ($0.53) in Q2 2022; non-GAAP operating income $0.80/diluted vs $1.91.
- Combined ratio 101.9% for Q2 2023, driven by inflation on private passenger auto; expense ratio improved to 30.9%.
- Direct written premiums grew 21.2% to $260.2M; net written premiums +20.8% to $245.0M.
- Book value per share fell to $53.66 from $54.88 at Dec 2022; repurchased 74,213 shares for $5.2M in Q2.
- Board declares $0.90 quarterly dividend payable Sept 15, 2023 to holders of record Sept 1, 2023 (unchanged).

## SEC filing metadata
- accession: 0001172052-23-000027
- form_type: 8-K
- ticker: SAFT
- cik: 0001172052
- company_name: SAFETY INSURANCE GROUP INC
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1172052/000117205223000027/0001172052-23-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1172052/000117205223000027/saft-20230802x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001172052-23-000027
- JSON: https://secwatch.observer/filing/0001172052-23-000027.json
- Plain text: https://secwatch.observer/filing/0001172052-23-000027.txt

## Key facts
- Earnings Releases
  SAFETY INSURANCE GROUP INC reported the quarter ended June 30, 2023 results: revenue $202.2 million, net income $17.0 million, EPS $1.15 per diluted share.
  - Period: the quarter ended June 30, 2023
  - Revenue: $202.2 million
  - Net income: $17.0 million
  - EPS: $1.15 per diluted share
  - Result: reported results
  source text: million from $404.1 million for the comparable 2022 period. Net written premiums for the quarter ended June 30, 2023 increased by $42.2 million, or 20.8%, to $245.0 million from $202.7 million for the comparable 2022 period. Net written premiums for the year ended June 30, 2023 increased by $67.1 million, or 17.6%, to $447.9 million from $380.8 million for the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1172052/000117205223000027/0001172052-23-000027-index.htm
- Earnings Releases
  SAFETY INSURANCE GROUP INC reported the six months ended June 30, 2023 results: revenue $394.0 million, net income $4.7 million, EPS $0.31 per diluted share.
  - Period: the six months ended June 30, 2023
  - Revenue: $394.0 million
  - Net income: $4.7 million
  - EPS: $0.31 per diluted share
  - Result: reported results
  source text: or 7.4%, to $202.2 million from $188.3 million for the comparable 2022 period. Net earned premiums for the six months ended June 30, 2023 increased by $18.5 million, or 4.9%, to $394.0 million from $375.4 million for the comparable 2022 period. For the quarter ended June 30, 2023, losses and loss adjustment expenses incurred increased by $30.8 million, or 27.3%, to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1172052/000117205223000027/0001172052-23-000027-index.htm

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