---
title: "Safety Insurance | 8-K: FY2025 Q4 Revenue: USD 319.34 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/276938390.md"
datetime: "2026-02-25T21:12:26.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/276938390.md)
  - [en](https://longbridge.com/en/news/276938390.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/276938390.md)
---

# Safety Insurance | 8-K: FY2025 Q4 Revenue: USD 319.34 M

Revenue: As of FY2025 Q4, the actual value is USD 319.34 M.

EPS: As of FY2025 Q4, the actual value is USD 1.36.

EBIT: As of FY2025 Q4, the actual value is USD 25.97 M.

#### Full Year Ended December 31, 2025 vs. 2024

-   **Net Income**:
    -   2025: $99.3 million
    -   2024: $70.7 million
-   **Non-GAAP Operating Income Per Diluted Share**:
    -   2025: $5.71
    -   2024: $4.16
-   **Combined Ratio**:
    -   2025: 99.0%
    -   2024: 101.1%
-   **Loss Ratio**:
    -   2025: 70.0%
    -   2024: 70.9%
-   **Expense Ratio**:
    -   2025: 29.0%
    -   2024: 30.2%
-   **Book Value Per Share**:
    -   December 31, 2025: $60.98
    -   December 31, 2024: $55.83, an increase of 9.2% year-over-year
-   **Dividends Paid Per Common Share**:
    -   2025: $3.64
    -   2024: $3.60
-   **Direct Written Premiums**:
    -   2025: $1,278.6 million, an increase of $85.5 million or 7.2% from 2024
    -   2024: $1,193.1 million
-   **Net Written Premiums**:
    -   2025: $1,175.7 million, an increase of $82.2 million or 7.5% from 2024
    -   2024: $1,093.5 million
-   **Net Earned Premiums**:
    -   2025: $1,139.0 million, an increase of $128.3 million or 12.7% from 2024
    -   2024: $1,010.7 million
-   **Losses and Loss Adjustment Expenses Incurred**:
    -   2025: $797.2 million, an increase of $80.6 million or 11.2% from 2024
    -   2024: $716.6 million
-   **Net Investment Income**:
    -   2025: $62.7 million, an increase of $7.0 million or 12.6% from 2024
    -   2024: $55.7 million
-   **Net Effective Annualized Yield on Investment Portfolio**:
    -   2025: 4.0%
    -   2024: 3.9%

#### Fourth Quarter Ended December 31, 2025 vs. 2024

-   **Net Income**:
    -   Q4 2025: $20.1 million
    -   Q4 2024: $8.1 million
-   **Non-GAAP Operating Income Per Diluted Share**:
    -   Q4 2025: $1.51
    -   Q4 2024: $0.94
-   **Combined Ratio**:
    -   Q4 2025: 99.4%
    -   Q4 2024: 101.9%
-   **Loss Ratio**:
    -   Q4 2025: 70.8%
    -   Q4 2024: 71.7%
-   **Expense Ratio**:
    -   Q4 2025: 28.6%
    -   Q4 2024: 30.2%
-   **Direct Written Premiums**:
    -   Q4 2025: $299.6 million, an increase of $7.6 million or 2.6% from Q4 2024
    -   Q4 2024: $292.0 million
-   **Net Written Premiums**:
    -   Q4 2025: $272.2 million, an increase of $16.7 million or 6.5% from Q4 2024
    -   Q4 2024: $255.5 million
-   **Net Earned Premiums**:
    -   Q4 2025: $293.2 million, an increase of $24.1 million or 9.0% from Q4 2024
    -   Q4 2024: $269.1 million
-   **Losses and Loss Adjustment Expenses Incurred**:
    -   Q4 2025: $207.7 million, an increase of $14.7 million or 7.6% from Q4 2024
    -   Q4 2024: $193.0 million
-   **Net Investment Income**:
    -   Q4 2025: $16.9 million, an increase of $2.1 million or 14.3% from Q4 2024
    -   Q4 2024: $14.8 million
-   **Net Effective Annualized Yield on Investment Portfolio**:
    -   Q4 2025: 4.2%
    -   Q4 2024: 4.0%

#### Balance Sheet Highlights (December 31, 2025 vs. 2024)

-   **Total Assets**:
    -   2025: $2,471.1 million
    -   2024: $2,270.1 million
-   **Total Liabilities**:
    -   2025: $1,578.8 million
    -   2024: $1,441.6 million
-   **Total Shareholders’ Equity**:
    -   2025: $892.3 million
    -   2024: $828.5 million

#### Other Key Metrics

-   **Share Repurchases**: Safety Insurance Group, Inc. repurchased $20 million of shares during the quarter ended December 31, 2025.
-   **Average Written Premium Per Policy (Year Ended December 31, 2025)**: Increased by 8.1% in Private Passenger Automobile, 4.6% in Commercial Automobile, and 9.7% in Homeowners lines compared to the same period in 2024.
-   **Total Prior Year Favorable Development**:
    -   Year ended December 31, 2025: $44.6 million
    -   Year ended December 31, 2024: $51.9 million
    -   Quarter ended December 31, 2025: $11.4 million
    -   Quarter ended December 31, 2024: $13.0 million

#### Outlook / Guidance

The report includes a cautionary statement regarding forward-looking statements, noting that future conditions and results could differ materially due to various risks and uncertainties. Safety Insurance Group, Inc. is not obligated to update or alter its forward-looking statements. No specific financial guidance or outlook for future periods is provided, beyond general statements about strengthening the investment portfolio and commitment to shareholder value.

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