Safety Insurance Q2 net income $16.6M, combined ratio 99.9%, declares $0.90 dividend

SAFETY INSURANCE GROUP INC

2024-Q2 EPS reported $2.48 revenue$538,016,000

Net income Q2 $16.6M ($1.13 diluted EPS) vs $17.0M ($1.15) in Q2 2023; non-GAAP op income $1.18/share vs $0.80.
Net earned premiums up 22.1% to $246.9M; direct written premiums up 21.3% to $315.5M.
Combined ratio improved to 99.9% from 101.9%, aided by $9.7M FAIR Plan restructuring gain.
Board declared $0.90 quarterly dividend payable Sep 13, 2024, record Sep 3; unchanged from prior quarter.
Book value per share $54.61 at Jun 30, up from $54.37 at Dec 31, 2023.

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