---
schema_version: "secwatch.filing_event.v1"
accession: "0001172052-24-000020"
form_type: "8-K"
ticker: "SAFT"
cik: "0001172052"
company_name: "SAFETY INSURANCE GROUP INC"
filed_at: "2024-05-08T23:59:59+00:00"
generated_at: "2026-06-02T08:45:49.511419+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001172052-24-000020
- form_type: 8-K
- ticker: SAFT
- cik: 0001172052
- company_name: SAFETY INSURANCE GROUP INC
- filed_at: 2024-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/1172052/000117205224000020/0001172052-24-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1172052/000117205224000020/saft-20240508x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001172052-24-000020
- JSON: https://secwatch.observer/filing/0001172052-24-000020.json
- Plain text: https://secwatch.observer/filing/0001172052-24-000020.txt

## Key facts
- Earnings Releases
  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
  source text: Safety Insurance Group, Inc. (NASDAQ:SAFT) (“the Company” or “Safety”) today reported first quarter 2024 results.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1172052/000117205224000020/0001172052-24-000020-index.htm

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