Safety Insurance Group, Inc. provides private passenger and commercial automobile, and homeowner insurance in Massachusetts, the United States. The company offers private passenger automobile policies that provide coverage for bodily injury and property damage to others, no-fault personal injury coverage for the insured/insured's car occupants, and physical damage coverage for an insured's own vehicle for collision or other perils. It also provides commercial automobile policies that offer insurance for commercial vehicles used for business purposes, including private passenger-type vehicles, trucks, tractors and trailers, and insure individual vehicles, as well as commercial fleets; and homeowners policies, which provide coverage for homes, condominiums, and apartments for losses to a dwelling and its contents from various perils, and coverage for liability to others arising from ownership or occupancy. In addition, the company offers business owners policies that cover apartments and residential condominiums, restaurants, office condominiums, processing and services businesses, special trade contractors, and wholesalers. Further, it provides personal umbrella policies, which provide personal excess liability coverage over and above the limits of individual automobile, watercraft, and homeowner's insurance policies; dwelling fire insurance for non-owner occupied residences; and commercial umbrella, which offers an excess liability product to clients. Additionally, the company offers inland marine coverage for homeowners and business owner policies; and watercraft coverage for small and medium sized pleasure crafts. It distributes its products through independent agents. The company was formerly known as Safety Holdings Inc and changed its name to Safety Insurance Group, Inc. in April 2002. Safety Insurance Group, Inc. was founded in 1979 and is headquartered in Boston, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.3B | - | $99M | $192M | 11.1% | 13.0% | 40.3% |
| 2024 | $1.1B | - | $71M | $124M | 8.5% | 19.8% | 274.7% |
| 2023 | $926M | - | $19M | $50M | 2.3% | 17.9% | -59.5% |
| 2022 | $785M | - | $47M | $42M | 5.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 785.06 | 925.95 | 1,109.74 | 1,254.07 |
| Operating Revenue | - | 785.06 | 925.95 | 1,109.74 | 1,254.07 |
| Total Expenses | - | 725.48 | 901.53 | 1,019.87 | 1,127.39 |
| EBIT | - | 60.10 | 25.24 | 90.38 | 128.21 |
| Interest Income | - | 62.15 | 73.52 | 78.22 | 88.30 |
| Interest Expense | - | 0.52 | 0.82 | 0.51 | 1.53 |
| Net Interest Income | - | -0.52 | -0.82 | -0.51 | -1.53 |
| Interest Expense Non Operating | - | 0.52 | 0.82 | 0.51 | 1.53 |
| Net Non Operating Interest Income Expense | - | -0.52 | -0.82 | -0.51 | -1.53 |
| Pretax Income | - | 59.58 | 24.42 | 89.87 | 126.68 |
| Tax Provision | - | 13.02 | 5.54 | 19.13 | 27.43 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 46.56 | 18.88 | 70.73 | 99.26 |
| Net Income From Continuing And Discontinued Operation | - | 46.56 | 18.88 | 70.73 | 99.26 |
| Net Income From Continuing Operation Net Minority Interest | - | 46.56 | 18.88 | 70.73 | 99.26 |
| Net Income | - | 46.56 | 18.88 | 70.73 | 99.26 |
| Net Income Common Stockholders | - | 46.36 | 18.79 | 70.42 | 98.80 |
| Net Income Including Noncontrolling Interests | - | 46.56 | 18.88 | 70.73 | 99.26 |
| Normalized Income | - | 46.56 | 18.88 | 70.73 | 99.26 |
| Diluted NI Availto Com Stockholders | - | 46.36 | 18.79 | 70.42 | 98.80 |
| Basic Average Shares | - | 14.61 | 14.66 | 14.69 | 14.71 |
| Diluted Average Shares | - | 14.71 | 14.71 | 14.72 | 14.75 |
| Reconciled Depreciation | - | 6.61 | 6.95 | 9.46 | 6.78 |
| Other Operating Expenses | - | 0.32 | 7.37 | 7.67 | 6.74 |
| Otherunder Preferred Stock Dividend | - | 0.20 | 0.08 | 0.32 | 0.46 |
| Loss Adjustment Expense | - | 491.98 | 642.30 | 716.64 | 797.18 |
| Net Policyholder Benefits And Claims | - | 491.98 | 642.30 | 716.64 | 797.18 |
| Policyholder Benefits Gross | - | 534.16 | 715.47 | 797.96 | 877.98 |
| Policyholder Benefits Ceded | - | 42.18 | 73.17 | 81.32 | 80.80 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Safety Insurance Group, Inc.this co. | SAFT | $1.0B | 10.16β discount | 1.12 | 11.1% | - |
| HBT Financial, Inc. | HBT | $1.0B | 13.54 | 1.69 | 12.5% | - |
| Northeast Bank | NBN | $1.0B | 12.39 | 2.09 | 16.9% | - |
| OceanFirst Financial Corp. | OCFC | $1.0B | 14.45 | 0.62 | 4.3% | - |
| Virtus Investment Partners, Inc. | VRTS |
| - |
| - |
| - |
| - |
| - |
| - |
| $995M |
| 7.19 |
| 1.06 |
| 14.8% |
| 8.13 |
| Universal Insurance Holdings, Inc. | UVE | $990M | 5.41 | 1.80 | 33.2% | - |
| Southside Bancshares, Inc. | SBSI | $980M | 14.15 | 1.16 | 8.2% | - |
| Burford Capital Limited | BUR | $975M | 15.58 | 0.40 | 2.6% | - |
| Capitol Federal Financial, Inc. | CFFN | $973M | 14.30 | 0.93 | 6.5% | - |
| Peer Median | - | 13.84 | 1.11 | 10.3% | 8.13 | |