Earnings Releases·Nov 4, 2026, 4:03 PM ET

Safety Insurance Group, Inc. — Third Quarter 2026 Earnings Summary

Q3 2026 net income rose 6.0% to $30.0 million ($2.05/share) versus $28.3 million ($1.91/share) prior year, while nine-month net income fell 36.5% to $50.2 million ($3.43/share) from $79.1 million ($5.33/share) due to an 8.6% increase in incurred losses driven by severe winter storms.
The company reported a 2.6% improvement in the quarterly combined ratio to 96.3% (from 98.9% prior year) and a 15.0% increase in net investment income to $17.9 million, despite a 4.2% decline in net written premiums to $296.2 million amid a softening market.
Pending all-cash acquisition by an affiliate of Mapfre S.A. valued at approximately $1.54 billion ($105/share, a 44% premium) remains subject to regulatory approval following shareholder consent on November 3, 2026.
The Board declared a quarterly cash dividend of $0.92 per share payable December 15, 2026; long-term debt remained constant at $50.0 million, while book value per share decreased to $58.29 from $60.98 at year-end 2025.