SAFT

EX-99.1

2 saft-ex99d1.htm

EX-99.1

Exhibit 99.1

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

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Boston, Massachusetts, November 4, 2026. Safety Insurance Group, Inc. (NASDAQ:SAFT) (“Safety” or the “Company”) today reported third quarter 2026 results.

George M. Murphy, Chairman of the Board of Directors, President and Chief Executive Officer, commented: “For the quarter ended September 30, 2026, our combined ratio improved to 96.3% compared to 98.9% in the same period in the prior year. The combined ratio of 96.3% reflects the impact of previous written premium growth earning into top-line revenue, as well as a decrease in losses and loss adjustment expenses incurred, driven by improved loss frequency in our private passenger automobile line. Net income for the quarter ended September 30, 2026 was $30.0 million, or $2.05 per diluted share, compared to net income of $28.3 million, or $1.91 per diluted share, for the comparable 2025 period. The increase in net income reflects the impact of improved underwriting results and the largest quarterly net investment income results in our Company’s history.

As previously communicated, 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. On November 3, 2026, Safety’s shareholders voted in favor of the transaction which remains subject to regulatory approval.”

Third Quarter 2026 Results and Recent Developments

Net income for the quarter ended September 30, 2026 was $30.0 million, or $2.05 per diluted share, compared to net income of $28.3 million, or $1.91 per diluted share, for the comparable 2025 period. Net income for the nine months ended September 30, 2026 was $50.2 million, or $3.43 per diluted share, compared to net income of $79.1 million, or $5.33 per diluted share, for the comparable 2025 period. Non-generally accepted accounting principles (“non-GAAP”) operating income, as defined below, for the quarter ended September 30, 2026 was $1.95 per diluted share, compared to $1.48 per diluted share for the comparable 2025 period. Non-GAAP operating income for the nine months ended September 30, 2026 was $3.28 per diluted share compared to $4.19 per diluted share for the comparable 2025 period.

Safety’s book value per share decreased to $58.29 at September 30, 2026 from $60.98 at December 31, 2025, primarily due to decreases in the value of our fixed maturity portfolio. Safety paid $0.92 per share in dividends to investors during the quarters ended September 30, 2026 and 2025. 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 December 15, 2026, to shareholders of record at the close of business on December 1, 2026.

Direct written premiums for the quarter ended September 30, 2026 decreased by $14.5 million, or 4.3%, to $319.7 million from $334.2 million for the comparable 2025 period. Direct written premiums for the nine months ended September 30, 2026 decreased by $17.7 million, or 1.8%, to $961.3 million from $979.0 million

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for the comparable 2025 period. Net written premiums for the quarter ended September 30, 2026 decreased by $13.0 million, or 4.2%, to $296.2 million from $309.2 million for the comparable 2025 period. Net written premiums for the nine months ended September 30, 2026 decreased by $18.4 million, or 2.0%, to $885.1 million from $903.5 million for the comparable 2025 period.

The decreases in direct written premiums and net written premiums are due to a softening, more competitive market, in addition to the cancellation of certain underperforming agency relationships. For the nine months ended September 30, 2026, the Company experienced policy count declines in Private Passenger Automobile and Homeowners lines, partially offset by growth in Commercial Automobile policies, compared to the same period in 2025. Average written premium per policy increased 2.0%, 6.0% and 9.7% 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 premiums for the quarter ended September 30, 2026 increased by $2.9 million, or 1.0%, to $293.9 million from $291.0 million for the comparable 2025 period. Net earned premiums for the nine months ended September 30, 2026 increased by $30.7 million, or 3.6%, to $876.5 million from $845.8 million for the comparable 2025 period. The increase in net earned premium is the result of rate increases earni

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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