104.40
+0.12%
Close of 9 Nov 2026, in USD
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About Safety Insurance Group
From its filings with the US Securities and Exchange Commission
Safety Insurance Group is based in Boston, Massachusetts and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker SAFT. The SEC classifies its business as fire, marine & casualty insurance. In the fiscal year to 31 December 2025, it reported revenue of $1.26bn and net income of $99.3m. At that date it held total assets of $2.47bn and shareholders' equity of $892.3m.
We are a leading provider of private passenger automobile, commercial automobile, and homeowners insurance in Massachusetts. In addition to these coverages, we offer a portfolio of other insurance products, including dwelling fire, umbrella and business owner policies. Operating exclusively in Massachusetts, New Hampshire and Maine through our insurance company subsidiaries, Safety Insurance Company ("Safety Insurance"), Safety Indemnity Insurance Company ("Safety Indemnity"), Safety Property and Casualty Insurance Company ("Safety P&C"), and Safety Northeast Insurance Company (“Safety Northeast”) (together referred to as the "Insurance Subsidiaries"), we have established strong relationships with independent insurance agents, who numbered 797 in 1,063 locations throughout these three states during 2025. We have used these relationships and, in particular, our extensive knowledge of the Massachusetts market to become the fourth largest private passenger automobile carrier and the largest commercial automobile carrier in Massachusetts, capturing an approximate 9.4% and 13.0% share, respectively, of the Massachusetts private passenger and commercial automobile markets in 2025 according to statistics compiled by Commonwealth Automobile Reinsurers ("CAR"). We also are the third largest homeowners insurance carrier in Massachusetts with a 7.0% share of that market in 2024. We were ranked the 52nd largest automobile writer in the country according to S&P Global Market Intelligence, based on 2024 direct written premiums.
Quoted from its 10-K, filed 27 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Insurance
- Listed since
- 22 Nov 2002
- Employees
- 568
- Website
- safetyinsurance.com ↗
- Head office
- 20 CUSTOM HOUSE STREET, BOSTON, MA, 02110
- Incorporated in
- DE
- Classification
- Fire, Marine & Casualty Insurance
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. George MurphyChairman of the Board, President, Chief Executive Officer, since 2005$3.7m
- Mr. Christopher WhitfordChief Financial Officer, Vice President, Secretary$1.4m
- Mr. Brian LamVice President - Insurance Operations
- Mr. John DragoVice President - Marketing$1.1m
- Mr. Glenn HiltpoldVice President - Actuarial Services
- Ms. Mary McconnellVice President - Underwriting
- Mr. Paul NarcisoVice President - Claims$1.2m
- Mr. Stephen VargaVice President - Management Information Systems$1.2m
- Ms. Thalia MeehanLead Independent Director$211,860
- Mr. Charles BrophyIndependent Director$85,610
- Mr. John FarinaIndependent Director$198,110
- Ms. Deborah GrayIndependent Director$180,610
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 55
- Environment
- 48
- Social
- 48
- Governance
- 70
- Carbon reduction policy
- No
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Safety Insurance Group Inc has a strong market presence and brand reputation, which leads to customer trust and loyalty.
- The company has a diversified product portfolio that includes a range of insurance products, such as auto, home, and business insurance, catering to a wide customer base.
- Safety Insurance Group Inc has a robust financial position and a consistent track record of profitability, which enables it to invest in growth opportunities and withstand market fluctuations.
Weaknesses
- The company operates primarily in a highly competitive market with numerous established players, which increases the challenge of gaining market share.
- Safety Insurance Group Inc may face regulatory and compliance challenges, as the insurance industry is subject to stringent regulations and changing legislation.
Opportunities
- The increasing awareness and demand for insurance products present growth opportunities for Safety Insurance Group Inc. As individuals and businesses become more risk-conscious, the company can expand its customer base.
- Safety Insurance Group Inc can leverage new technologies and innovations, such as advanced data analytics and artificial intelligence, to improve underwriting processes, enhance customer experience, and gain a competitive edge.
- Expansion into new geographic markets or offering specialized insurance products targeted at specific industries or customer segments can also provide growth prospects for the company.
Threats
- The insurance industry is susceptible to economic downturns and market volatility, which can impact premium rates and investment returns, posing a threat to Safety Insurance Group Inc's profitability.
- Emerging risks, such as cybersecurity threats and natural disasters, can result in higher claims and operational complexities, affecting the company's financial performance.
- Intense competition within the insurance sector and the entry of new innovative players may lead to pricing pressures and erosion of market share for Safety Insurance Group Inc.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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