Safety Insurance Group, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 27, 2024 at 03:59 pm EST
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Safety Insurance Group, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 258.4 million compared to USD 226.6 million a year ago. Net income was USD 12.26 million compared to USD 24.63 million a year ago. Basic earnings per share from continuing operations was USD 0.83 compared to USD 1.68 a year ago. Diluted earnings per share from continuing operations was USD 0.83 compared to USD 1.67 a year ago.
For the full year, revenue was USD 930.96 million compared to USD 797.56 million a year ago. Net income was USD 18.88 million compared to USD 46.56 million a year ago. Basic earnings per share from continuing operations was USD 1.28 compared to USD 3.17 a year ago. Diluted earnings per share from continuing operations was USD 1.28 compared to USD 3.15 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.