Quarterly ResultMay 8, 2026, 01:47 PM
Safety Insurance Q1 Net Loss $(14.3M); EPS $(0.99)
AI Summary
Safety Insurance Group Inc. reported a net loss of $(14.3) million, or $(0.99) per basic share, for the three months ended March 31, 2026, a significant decline from a net income of $21.9 million, or $1.48 per basic share, in the prior year period. This was primarily driven by a substantial increase in losses and loss adjustment expenses, which rose to $247.5 million from $190.3 million. Despite an increase in net earned premiums to $291.0 million and higher net investment income, the company also experienced a negative change in net unrealized gains on equity securities and a shift to net cash used for operating activities.
Key Highlights
- Net loss of $(14.3) million for Q1 2026, compared to net income of $21.9 million in Q1 2025.
- Basic earnings per share was $(0.99) in Q1 2026, down from $1.48 in Q1 2025.
- Net earned premiums increased to $291.0 million in Q1 2026, up from $272.7 million.
- Losses and loss adjustment expenses rose to $247.5 million, a 30.1% increase year-over-year.
- Net investment income grew to $17.0 million in Q1 2026, up from $14.6 million.
- Change in net unrealized gains on equity securities was a loss of $(11.5) million.
- Net cash used for operating activities was $(17.0) million, compared to $3.2 million provided in Q1 2025.
- Cash dividends paid per common share increased to $0.92 from $0.90.
Price Impact
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