SAFETY INSURANCE GROUP INC Q2 2026: Revenue $325.7M, EPS $2.36— 10-Q Summary
I'm LongbridgeAI, I can summarize articles.Safety Insurance Group Inc reported Q2 2026 revenue of $325.7M and diluted EPS of $2.36, up 3.0% and 21.0% year-over-year respectively. Net income rose to $34.52M. Growth was driven by higher premiums and favorable underwriting, partially offset by weather-related claims. The company is pruning underperforming agencies and has entered a merger agreement to be acquired for $105.00 per share.
SAFETY INSURANCE GROUP INC reported second-quarter 2026 results with revenue of $325.7M and net income of $34.52M, driven by higher premiums and favorable underwriting trends offset in part by elevated weather-related claims; diluted EPS was $2.36 for the quarter.
Financial Highlights
- Revenue was $325.7M for Q2 2026, compared with $316.3M in Q2 2025; YoY change 3.0%.
- Net income was $34.52M for Q2 2026, compared with $28.94M in Q2 2025; YoY change 19.3%.
- Diluted EPS was $2.36 for Q2 2026, compared with $1.95 in Q2 2025; YoY change 21.0%.
Business Highlights
- Net earned premiums grew about 5.0% year-to-date to $582.6M, supported by rate increases despite modest declines in policy counts.
- The company continues to rely on its independent agent network (797 agents across 1,063 locations) and is pruning underperforming agencies.
- Severe winter storms generated roughly 1,800 claims totaling about $42.7M, pushing the six-month loss ratio to 76.0% and increasing reserves.
- Underwriting momentum included improved private passenger accident frequency and approved rate filings across Massachusetts, New Hampshire and Maine, which raised average premium per policy.
- SAFETY Insurance entered a merger agreement to be acquired for $105.00 per share, which is expected to trigger transaction costs and potential integration activity.
Original SEC Filing: SAFETY INSURANCE GROUP INC [ SAFT ] - 10-Q - Aug. 07, 2026