Safety Insurance Q4 net income $12.3M ($0.83/diluted); full-year combined ratio 107.7%

SAFETY INSURANCE GROUP INC

2023-FY EPS reported $1.28 revenue$930,956,000

Direct written premiums grew 22.2% to $246.1M in Q4; full year up 20.4% to $991.2M.
Q4 combined ratio 106.5% (loss ratio 76.1%) vs 100.7% in prior year; full year 107.7%.
Net investment income rose 11.2% to $14.9M for Q4; effective yield 4.2%.
Quarterly dividend maintained at $0.90/share payable March 15, 2024.
VP of Insurance Operations Ann McKeown retiring March 1; replaced by Brian S. Lam.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Ann M. McKeown

Vice President of Insurance Operations

SAFT · SAFETY INSURANCE GROUP INC

Effective: 2024-03-01
Successor: Brian S. Lam
Filed: February 27, 2024, 6:59 PM ET

Ann M. McKeown, 56, the Company’s Vice President of Insurance Operations, communicated her intention to retire, to which the Board of Directors accepted, effective March 1, 2024.

Appointed

Brian S. Lam

Vice President of Insurance Operations

SAFT · SAFETY INSURANCE GROUP INC

Effective: 2024-03-01
Filed: February 27, 2024, 6:59 PM ET

Brian S. Lam, 44, was appointed the Company’s Vice President of Insurance Operations, effective March 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

SAFETY INSURANCE GROUP INC reported fourth quarter and year ended 2023 results: net income $12.3 million, or $0.83 per diluted share, EPS $0.83 per diluted share.

Period: fourth quarter and year ended 2023
Net income: $12.3 million, or $0.83 per diluted share
EPS: $0.83 per diluted share
Result: reported results

Exact text from the filing

Net income for the quarter ended December 31, 2023 was $12.3 million, or $0.83 per diluted share, compared to net income of $24.6 million, or $1.67 per diluted share, for the comparable 2022 period.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ann M. McKeown retired as Vice President of Insurance Operations at SAFETY INSURANCE GROUP INC.

Action: retired
Role: Vice President of Insurance Operations

Exact text from the filing

Ann M. McKeown, 56, the Company’s Vice President of Insurance Operations, communicated her intention to retire, to which the Board of Directors accepted, effective March 1, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Brian S. Lam was appointed as Vice President of Insurance Operations at SAFETY INSURANCE GROUP INC.

Action: appointed
Role: Vice President of Insurance Operations

Exact text from the filing

Brian S. Lam, 44, was appointed the Company’s Vice President of Insurance Operations, effective March 1, 2024.

View on SEC.gov

708 earnings releases filed in the last 30 days. Browse all earnings releases →

SAFETY INSURANCE GROUP INC filing history →

Source: SEC EDGAR

accession 0001172052-24-000003

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