Safety Insurance Q3 net earned premiums rise 12.5% yr/yr

Safety Insurance

03/11/2025 21:34

Overview

Safety Insurance Q3 net earned premiums up 12.5% yr/yr, driven by policy growth

Net income for Q3 rises to $28.3 mln, EPS at $1.91

Company plans to recommence share repurchases, $44.76 mln remaining under authorization

Outlook

Company did not provide specific guidance for future quarters

Result Drivers

PREMIUM GROWTH - Net earned premiums increased 12.5% due to prior year growth in policy counts and rate increases

COMBINED RATIO IMPROVEMENT - Combined ratio improved to 98.9% from 100.7% due to increased net earned premiums

INVESTMENT INCOME - Net investment income rose 27.2% due to higher interest rates on fixed maturity portfolio

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
$326.62 mln
Q3 EPS
$1.91
Q3 Net Income
$28.31 mln
Q3 Adjusted Operating Income
$21.88 mln
Q3 Pretax Profit
$36.21 mln


Analyst Coverage

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nBw77JGyna

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)