SEC Form SC 13G/A filed by Safety Insurance Group Inc. (Amendment)
$SAFT
Property-Casualty Insurers
Finance
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Safety Insurance Group, Inc. (NASDAQ:SAFT) ("Safety" or the "Company") today reported third quarter 2024 results. George M. Murphy, Chairman of the Board of Directors, President and Chief Executive Officer, commented: "The direct written premium growth that Safety has experienced is impacting our top-line revenue, which increased by 21.9% for the nine months ended September 30, 2024 over the prior year. We continue to see increased policy counts and premium rate actions that are earning into our results and contributing to improvements in our loss ratios. While private passenger automobile loss severity trends remain higher than historical averages, we are seeing moderation during the curr
Safety Insurance Group, Inc. (NASDAQ:SAFT) ("Safety" or the "Company") today reported second quarter 2024 results. George M. Murphy, Chairman of the Board of Directors, President and Chief Executive Officer, commented: "We are seeing the financial impact of both ongoing rate increases and growth in policy counts with net earned premium increasing by 22.1% for the second quarter of 2024 compared to 2023. However, the growth in policy counts combined with ongoing inflationary trends in the Private Passenger Automobile book of business has resulted in an increase in current year loss experience compared to second quarter of 2023." "For the quarter ended June 30, 2024, our combined ratio is
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of "a+" (Excellent) of Safety Insurance Company, Safety Indemnity Insurance Company, Safety Property and Casualty Insurance Company and Safety Northeast Insurance Company. Collectively, these companies are referred to as Safety Group (Safety). The outlook of the FSR is stable. At the same time, AM Best has revised the outlook to negative from stable and affirmed the Long-Term ICR of "bbb+" (Good) of Safety Insurance Group, Inc. (Delaware) (NASDAQ:SAFT), the publicly traded parent of Safety. Al
Safety Insurance Group, Inc. (NASDAQ:SAFT) ("Safety" or the "Company") today reported third quarter 2024 results. George M. Murphy, Chairman of the Board of Directors, President and Chief Executive Officer, commented: "The direct written premium growth that Safety has experienced is impacting our top-line revenue, which increased by 21.9% for the nine months ended September 30, 2024 over the prior year. We continue to see increased policy counts and premium rate actions that are earning into our results and contributing to improvements in our loss ratios. While private passenger automobile loss severity trends remain higher than historical averages, we are seeing moderation during the curr
Safety Insurance Group, Inc. (NASDAQ:SAFT) ("Safety" or the "Company") today reported second quarter 2024 results. George M. Murphy, Chairman of the Board of Directors, President and Chief Executive Officer, commented: "We are seeing the financial impact of both ongoing rate increases and growth in policy counts with net earned premium increasing by 22.1% for the second quarter of 2024 compared to 2023. However, the growth in policy counts combined with ongoing inflationary trends in the Private Passenger Automobile book of business has resulted in an increase in current year loss experience compared to second quarter of 2023." "For the quarter ended June 30, 2024, our combined ratio is
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of "a+" (Excellent) of Safety Insurance Company, Safety Indemnity Insurance Company, Safety Property and Casualty Insurance Company and Safety Northeast Insurance Company. Collectively, these companies are referred to as Safety Group (Safety). The outlook of the FSR is stable. At the same time, AM Best has revised the outlook to negative from stable and affirmed the Long-Term ICR of "bbb+" (Good) of Safety Insurance Group, Inc. (Delaware) (NASDAQ:SAFT), the publicly traded parent of Safety. Al
Safety Insurance Group (NASDAQ:SAFT) reported quarterly earnings of $0.93 per share which beat the analyst consensus estimate of $0.50 by 86 percent. This is a 206.9 percent increase over losses of $(0.87) per share from the same period last year. The company reported $268.23 million in sales this quarter. This is a 25.48 percent increase over sales of $213.76 million the same period last year.
Safety Insurance Group (NASDAQ:SAFT) reported quarterly earnings of $0.30 per share which missed the analyst consensus estimate of $0.77 by 61.04 percent. This is a 69.39 percent decrease over earnings of $0.98 per share from the same period last year. The company reported $226.03 million in sales this quarter. This is a 17.02 percent increase over sales of $193.15 million the same period last year.
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Notes that Company Has Made Significant Changes as a Result of Ides' Engagement and Announces Withdrawal of Director Nominees Urges New Directors John Farina and Deborah Gray to Immediately Set a Tone of Enhanced Governance, Independence and Stakeholder and Shareholder Advocacy in the Boardroom Highlights Need for Additional ESG, Operational and Strategic Improvements at the Company Ides Will Continue to Monitor Safety's Progress and Will Not Hesitate to Consider Any and All Steps to Improve Shareholder Value Going Forward Ides Capital Management, LP (together with its affiliates, "Ides") is a New York-based investment advisor that engages with corporate boards and management teams to d
Two New Independent Directors Enhance Extensive Insurance, Finance, Data Privacy and Security, Legal, and Governance Expertise on the Board To File Preliminary Proxy Statement That Includes Proposals to Further Enhance Shareholder Rights Safety Insurance Group, Inc. (NASDAQ:SAFT) ("Safety" or the "Company") announced today the appointments of John D. Farina and Deborah E. Gray to its Board of Directors, effective immediately and several governance enhancements for which the Board will solicit support in advance of the upcoming annual meeting of stockholders (the "Annual Meeting"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20
Disappointed that Board Has Refused to Engage Privately Around Stock Price Underperformance, ESG and Sustainability Deficiencies, and Subpar Capital Allocation Believes Company's Recently Announced and Reactive Share Buyback Falls Well Short of What Shareholders Deserve and Safety Could Undertake Highlights How Company Has Failed to Sufficiently Address Numerous Areas of Concern that Ides Has Raised Will Continue to Take Steps to Protect Best Interests of All Shareholders – Including the Election of Ides' Two Highly Qualified and Fully Independent Director Nominees – While Remaining Open to Constructive Engagement Ides Capital Management LP ("Ides Capital"), a shareholder of Safety Insu
4 - SAFETY INSURANCE GROUP INC (0001172052) (Issuer)
4 - SAFETY INSURANCE GROUP INC (0001172052) (Issuer)
4 - SAFETY INSURANCE GROUP INC (0001172052) (Issuer)
10-Q - SAFETY INSURANCE GROUP INC (0001172052) (Filer)
SCHEDULE 13G - SAFETY INSURANCE GROUP INC (0001172052) (Subject)
8-K - SAFETY INSURANCE GROUP INC (0001172052) (Filer)
SC 13G/A - SAFETY INSURANCE GROUP INC (0001172052) (Subject)
SC 13G/A - SAFETY INSURANCE GROUP INC (0001172052) (Subject)
SC 13G - SAFETY INSURANCE GROUP INC (0001172052) (Subject)
4 - SAFETY INSURANCE GROUP INC (0001172052) (Issuer)