Safety Insurance Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 03:55 pm EDT
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Safety Insurance Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 229.36 million compared to USD 192.35 million a year ago. Net income was USD 1.95 million compared to USD 6.19 million a year ago. Basic earnings per share from continuing operations was USD 0.13 compared to USD 0.42 a year ago. Diluted earnings per share from continuing operations was USD 0.13 compared to USD 0.42 a year ago.
For the nine months, revenue was USD 672.56 million compared to USD 570.96 million a year ago. Net income was USD 6.61 million compared to USD 21.93 million a year ago. Basic earnings per share from continuing operations was USD 0.45 compared to USD 1.49 a year ago. Diluted earnings per share from continuing operations was USD 0.45 compared to USD 1.48 a year ago.
Safety Insurance Group, Inc. is a provider of private passenger automobile, commercial automobile, and homeownersâ insurance in Massachusetts. In addition to these coverages, it offers a portfolio of a portfolio of other insurance products, including dwelling fire, umbrella, and business owner policies. Its product line includes private passenger automobile, commercial automobile, homeowners, business owner policies, personal umbrella, dwelling fire, commercial umbrella, inland marine, and Watercraft. Private passenger automobile and commercial automobile polices provide coverage for bodily injury and property damage to others, no-fault personal injury coverage, and physical damage coverage for an insured's own vehicle for collision or other perils. Homeowners write policies on homes, condominiums, and apartments. Inland marine provides additional coverage for jewelry, fine arts, and other items that a homeowner. Business owner policies serve small and medium-sized commercial accounts.