Safety Insurance posts record $1.19B direct premiums in 2024; net income jumps to $70.7M

SAFETY INSURANCE GROUP INC

2024-FY EPS reported $4.78 vs consensus $1.19 ▲ beat (+300.5%)

Full-year 2024 net income $70.7M ($4.78 diluted EPS) vs $18.9M ($1.28) in 2023; non-GAAP operating EPS $4.16 vs $0.84.
Direct written premiums grew 20.4% to $1.193B, crossing $1B for first time; policy counts up 8.5% and average premium up 10.9%.
Combined ratio improved to 101.1% from 107.7% in 2023; loss ratio decreased to 70.9% from 77.0%.
Book value per share $55.83 at Dec 31, 2024, up 8.4% from $54.37; quarterly dividend maintained at $0.90.
Prior year favorable development $51.9M for full year; FAIR Plan restructuring contributed $10.1M.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.