Safety Insurance Q1 net income $20.1M ($1.36 EPS) vs year-ago loss; premiums up 23%

SAFETY INSURANCE GROUP INC

2024-Q1 EPS reported $1.36 revenue$268,233,000

Net income $20.1M ($1.36 diluted EPS) vs net loss $12.3M ($0.84 loss) in Q1 2023.
Non-GAAP operating income $0.93 per share vs operating loss $0.87 per share a year ago.
Direct written premiums rose 22.7% to $267.3M; net earned premiums up 23.1% to $236.1M.
Combined ratio improved to 101.9% from 118.5% (prior year had $32.1M winter freeze losses).
Board declared $0.90 quarterly dividend, payable June 14, 2024 to holders of record June 3.

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 first quarter 2024 results: net income $20.1 million, or $1.36 per diluted share.

Period: first quarter 2024
Net income: $20.1 million, or $1.36 per diluted share
Result: reported results

Exact text from the filing

Safety Insurance Group, Inc. (NASDAQ:SAFT) (“the Company” or “Safety”) today reported first quarter 2024 results.

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Source: SEC EDGAR

accession 0001172052-24-000020

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