---
schema_version: "secwatch.filing_event.v1"
accession: "0001172052-23-000033"
form_type: "8-K"
ticker: "SAFT"
cik: "0001172052"
company_name: "SAFETY INSURANCE GROUP INC"
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T02:02:25.540714+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 69% to $1.9M; combined ratio 104.8% due to auto inflation and weather losses

## Summary
- Net income $1.9M ($0.13 diluted EPS) vs $6.2M ($0.42) in Q3 2022; non-GAAP op income $0.59 vs $1.13.
- Combined ratio 104.8% (vs 97.1% a year ago) reflecting inflation in Private Passenger Auto and flood/wind events.
- Direct written premiums grew 22.6% to $267.1M; net written premiums up 22.2% to $251.1M.
- Book value per share fell to $52.04 from $54.88 at year-end 2022; board declared $0.90 dividend payable Dec 15.
- Net investment income rose 26% to $14.0M on higher interest rates; yield 4.0% vs 3.1%.

## SEC filing metadata
- accession: 0001172052-23-000033
- form_type: 8-K
- ticker: SAFT
- cik: 0001172052
- company_name: SAFETY INSURANCE GROUP INC
- filed_at: 2023-11-01T23:59:59+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/1172052/000117205223000033/0001172052-23-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1172052/000117205223000033/saft-20231101x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001172052-23-000033
- JSON: https://secwatch.observer/filing/0001172052-23-000033.json
- Plain text: https://secwatch.observer/filing/0001172052-23-000033.txt

## Key facts
- Earnings Releases
  SAFETY INSURANCE GROUP INC reported third quarter 2023 results: net income $1.9 million, or $0.13 per diluted share.
  - Period: third quarter 2023
  - Net income: $1.9 million, or $0.13 per diluted share
  - Result: reported results
  source text: Net income for the quarter ended September 30, 2023 was $1.9 million, or $0.13 per diluted share, compared to net income of $6.2 million, or $0.42 per diluted share, for the comparable 2022 period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1172052/000117205223000033/0001172052-23-000033-index.htm

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