SAFT

EX-99.1

2 saft-20260805xex99d1.htm

EX-99.1

Exhibit 99.1

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SAFETY INSURANCE GROUP, INC. ANNOUNCES SECOND QUARTER 2026 RESULTS AND DECLARES THIRD QUARTER 2026 DIVIDEND

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Boston, Massachusetts, August 5, 2026. Safety Insurance Group, Inc. (NASDAQ:SAFT) (“Safety” or the “Company”) today reported second quarter 2026 results.

George M. Murphy, Chairman of the Board of Directors, President and Chief Executive Officer, commented: “I’m pleased to announce that for quarter ended June 30, 2026, our combined ratio improved to 95.7% compared to 98.1% in the same period in the prior year. The combined ratio of 95.7% reflects the impact of our underwriting discipline and ongoing pricing strategy. Net income for the quarter ended June 30, 2026 was $34.5 million, or $2.36 per diluted share, compared to net income of $28.9 million, or $1.95 per diluted share, for the comparable 2025 period. The increase in net income reflects the impact of strong written premium growth in prior years earning into top-line revenue, as well as the ongoing impact of pricing actions.

Also, on July 23, 2026, the Company announced that it has entered into a definitive agreement under which an affiliate of Mapfre S.A. (“Mapfre”) will acquire Safety in an all-cash transaction valued at approximately $1.54 billion. Under the terms of the agreement, Safety shareholders will receive $105 for each Safety common share in cash, which represents a premium of 44% on Safety’s stock price as of July 23, 2026. This transaction represents an exceptional outcome for our shareholders and an exciting new chapter for Safety. Throughout our history, we have built a company defined by strong underwriting, deep relationships with agents and clients, and an unwavering commitment to the communities we serve. Mapfre shares our long-term vision, our insurance culture, and our commitment to serving clients. Together, we will be even better positioned to invest in our people, strengthen our capabilities, expand our product offering, and continue delivering the high-quality service our clients and distribution partners expect from Safety.”

Second Quarter 2026 Results and Recent Developments

Net income for the quarter ended June 30, 2026 was $34.5 million, or $2.36 per diluted share, compared to net income of $28.9 million, or $1.95 per diluted share, for the comparable 2025 period. Net income for the six months ended June 30, 2026 was $20.2 million, or $1.38 per diluted share, compared to net income of $50.8 million, or $3.43 per diluted share, for the comparable 2025 period. Non-generally accepted accounting principles (“non-GAAP”) operating income, as defined below, for the quarter ended June 30, 2026 was $2.03 per diluted share, compared to $1.45 per diluted share for the comparable 2025 period. Non-GAAP operating income for the six months ended June 30, 2026 was $1.33 per diluted share compared to $2.74 per diluted share for the comparable 2025 period.

Safety’s book value per share decreased to $59.70 at June 30, 2026 from $60.98 at December 31, 2025, primarily due to underwriting losses incurred during the first quarter of 2026, as well as decreases in the value of our fixed maturity portfolio. Safety paid $0.92 per share in dividends to investors during the quarter ended June 30, 2026 compared to $0.90 for the comparable 2025 period. Safety paid $3.64 per share in dividends to investors during the year ended December 31, 2025.

Today, our Board of Directors approved a $0.92 per share quarterly cash dividend on our issued and outstanding common stock payable on September 15, 2026, to shareholders of record at the close of business on September 1, 2026.

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Direct written premiums for the quarter ended June 30, 2026 decreased by $4.0 million, or 1.2%, to $341.8 million from $345.8 million for the comparable 2025 period. Direct written premiums for the six months ended June 30, 2026 decreased by $3.2 million, or 0.5%, to $641.6 million from $644.8 million for the comparable 2025 period. Net written premiums for the quarter ended June 30, 2026 decreased by $6.0 million, or 1.9%, to $313.5 million from $319.5 million for the comparable 2025 period. Net written premiums for the six months ended June 30, 2026 decreased by $5.4 million, or 0.9%, to $588.9 million from $594.3 million for the comparable 2025 period.

The decreases in direct written premiums and net written premiums are primarily due to the cancellation of certain underperforming agency relationships. For the six months ended June 30, 2026, the Company experienced policy count declines of 8.8% in Private Passenger Automobile and 4.0% in Homeowners lines, partially offset by 2.7% growth in Commercial Automobile policies, compared to the same period in 2025. Average written premium per policy increased 2.9%, 6.4% and 10.9% in Private Passenger Automobile, Commercial Automobile and Homeowners lines, respectively, compared to the same period in 2025 reflecting the result of rate increases.

Net earned premi

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SAFETY INSURANCE GROUP, INC._February 25, 2026 0001172052false00011720522026-02-252026-02-25

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 ​

FORM 8-K

​

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ​ February 25, 2026 Date of Report (Date of earliest event reported) ​

SAFETY INSURANCE GROUP, INC.

(Exact name of registrant as specified in its charter) ​ ​

​

​

Delaware 000-50070 13-4181699

(State or other jurisdiction (Commission (IRS Employer

of incorporation) File Number) Identification No.)

​ 20 Custom House Street, Boston, Massachusetts 02110 (Address of principal executive offices including zip code) ​ (617) 951-0600 (Registrant's telephone number, including area code) ​ Not Applicable (Former name or former address, if changed since last report) ​ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ​ ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: ​ Title of each class Trading Symbol Name of each exchange on which registered

Common Stock, par value $0.01 per share

SAFT

The Nasdaq Stock Market, LLC

​ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ​ Emerging growth company ☐ ​ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ ​ ​ ​

Item 2.02 Results of Operations and Financial Condition. ​ In a press release dated February 25, 2026, Safety Insurance Group, Inc. (the “Registrant”) announced its fourth quarter and year ended 2025 results. The Registrant’s press release dated February 25, 2026 is furnished herewith as Exhibit 99.1. ​ ​ Item 9.01 Financial Statements and Exhibits. ​ (d)  Exhibits. The following exhibit is furnished herewith: ​

Exhibit Number Description ​

99.1 Text of press release issued by the Registrant dated February 25, 2026

​ 104The cover page from this Current Report on form 8-K, formatted in Inline XBRL ​ ​

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

​ Safety Insurance Group, Inc. (Registrant)

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Date: February 25, 2026 By: /s/ CHRISTOPHER T. WHITFORD

​ ​ Christopher T. Whitford

​ ​ V.P., Chief Financial Officer and Secretary

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