Safety Insurance Group, Inc. (SAFT)

Safety Insurance Group Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	923.45	834.41	758.51	774.33	771.08	788.78
Total Interest & Dividend Income	51.32	50.86	44.42	39.24	39.67	45.11
Gain (Loss) on Sale of Investments	8.59	8.3	-35.18	31.38	10.35	23.54
Other Revenue	42.41	37.39	29.82	39.97	25.15	20.32
Total Revenue	1,026	930.96	797.56	884.91	846.25	877.75
Revenue Growth (YoY)	18.98%	16.73%	-9.87%	4.57%	-3.59%	4.93%
Policy Benefits	672.77	642.3	491.98	461.73	404.56	509.85
Policy Acquisition & Underwriting Costs	280.14	256.58	245.15	258.39	266.48	244.14
Other Operating Expenses	7.23	6.84	0.33	-	-	-
Total Operating Expenses	960.15	905.72	737.45	720.12	671.04	753.98
Operating Income	65.62	25.24	60.11	164.79	175.21	123.77
Interest Expense	-0.52	-0.82	-0.52	-0.52	-0.44	-0.09
Pretax Income	65.1	24.42	59.58	164.27	174.77	123.68
Income Tax Expense	14.18	5.55	13.02	33.56	36.56	24.08
Net Income	50.93	18.88	46.56	130.71	138.21	99.6
Preferred Dividends & Other Adjustments	0.23	0.09	0.21	-0.58	-0.64	0.52
Net Income to Common	50.7	18.79	46.36	131.29	138.85	99.08
Net Income Growth	43.51%	-59.46%	-64.38%	-5.43%	38.76%	19.72%
Shares Outstanding (Basic)	15	15	15	15	15	15
Shares Outstanding (Diluted)	15	15	15	15	15	15
Shares Change (YoY)	-0.20%	-0.00%	-1.44%	-1.28%	-1.43%	0.71%
EPS (Basic)	3.46	1.28	3.17	8.85	9.25	6.52
EPS (Diluted)	3.45	1.28	3.15	8.80	9.18	6.46
EPS Growth	43.98%	-59.37%	-64.20%	-4.14%	42.11%	18.97%
Free Cash Flow	65.17	50.33	42.23	133.17	99.51	102.86
Free Cash Flow Per Share	4.43	3.42	2.87	8.92	6.58	6.71
Dividend Per Share	3.600	3.600	3.600	3.600	3.600	3.400
Dividend Growth	0%	0%	0%	0%	5.88%	6.25%
Operating Margin	6.40%	2.71%	7.54%	18.62%	20.70%	14.10%
Profit Margin	4.94%	2.02%	5.81%	14.84%	16.41%	11.29%
Free Cash Flow Margin	6.35%	5.41%	5.30%	15.05%	11.76%	11.72%
EBITDA	73.85	32.19	66.72	171.69	182.74	129.26
EBITDA Margin	7.20%	3.46%	8.36%	19.40%	21.59%	14.73%
D&A For EBITDA	8.22	6.95	6.61	6.9	7.53	5.49
EBIT	65.62	25.24	60.11	164.79	175.21	123.77
EBIT Margin	6.40%	2.71%	7.54%	18.62%	20.70%	14.10%
Effective Tax Rate	21.78%	22.71%	21.85%	20.43%	20.92%	19.47%
Revenue as Reported	1,026	930.96	797.56	884.91	846.25	877.75

Source: S&P Capital IQ. Insurance template. Financial Sources.