This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Safety Announces Third Quarter 2012 Results And Declares Fourth Quarter 2012 Dividend

Safety Insurance Group, Inc. (NASDAQ:SAFT) today reported third quarter 2012 results. Net income for the quarter ended September 30, 2012 was $14.3 million, or $0.94 per diluted share, compared to net income of $8.8 million, or $0.58 per diluted share, for the comparable 2011 period. Net income for the nine months ended September 30, 2012 was $48.5 million, or $3.17 per diluted share, compared to $8.9 million, or $0.59 per diluted share, for the comparable 2011 period. Safety’s book value per share increased to $45.46 at September 30, 2012 from $43.22 at December 31, 2011. Safety paid $0.60 per share in dividends to investors during the quarter ended September 30, 2012, compared to $0.50 per share during the comparable 2011 period. Safety paid $2.00 per share in dividends to investors during the year ended December 31, 2011.

Direct written premiums for the quarter ended September 30, 2012 increased by $11.9 million, or 7.1%, to $179.0 million from $167.1 million for the comparable 2011 period. Direct written premiums for the nine months ended September 30, 2012 increased by $36.7 million, or 7.3%, to $541.1 million from $504.4 million for the comparable 2011 period. The 2012 increases occurred primarily in our personal automobile and homeowners business lines, which experienced increases of 5.0%, and 3.8%, respectively, in average written premium per exposure. Written exposures remained consistent in our personal automobile line and increased by 8.0% in our homeowners business line.

Net written premiums for the quarter ended September 30, 2012 increased by $13.5 million, or 8.5%, to $171.7 million from $158.2 million for the comparable 2011 period. Net written premiums for the nine months ended September 30, 2012 increased by $34.5 million, or 7.1%, to $518.0 million from $483.5 million for the comparable 2011 period. Net earned premiums for the quarter ended September 30, 2012 increased by $11.2 million, or 7.4%, to $162.5 million from $151.3 million for the comparable 2011 period. Net earned premiums for the nine months ended September 30, 2012 increased by $32.5 million, or 7.3%, to $477.1 million from $444.6 million for the comparable 2011 period. Net written and net earned premiums increased primarily due to direct written premium increases in our personal automobile and homeowners business lines as discussed above.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs