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 Fourth Quarter And Year End 2013 Results

Safety Insurance Group, Inc. (NASDAQ:SAFT) today reported fourth quarter 2013 results. Net income for the quarter ended December 31, 2013 was $11.7 million, or $0.76 per diluted share, compared to net income of $9.6 million, or $0.62 per diluted share, for the comparable 2012 period. Net income for the twelve months ended December 31, 2013 was $61.4 million, or $3.98 per diluted share, compared to $58.1 million, or $3.80 per diluted share, for the comparable 2012 period. Safety’s book value per share decreased to $45.18 at December 31, 2013 from $45.31 at December 31, 2012 primarily due to a decrease in net unrealized investment gains. Safety paid $0.60 per share in dividends to investors during both the quarters ended December 31, 2013 and 2012. Safety paid $2.40 per share in dividends to investors during the year ended December 31, 2013 compared to $2.20 per share during the comparable 2012 period.

Direct written premiums for the quarter ended December 31, 2013 increased by $5.5 million, or 3.5%, to $160.6 million from $155.1 million for the comparable 2012 period. Direct written premiums for the twelve months ended December 31, 2013 increased by $35.5 million, or 5.1%, to $731.7 million from $696.2 million for the comparable 2012 period. The increase for the quarter ended December 31, 2013 from the comparable 2012 period occurred primarily in our homeowners and commercial automobile business lines, which experienced increases of 6.2% and 7.0%, respectively in written exposures. The increase for the twelve months ended December 31, 2013 from the comparable 2012 period occurred primarily in our homeowners and personal automobile business lines, which experienced increases of 4.5% and 2.5%, respectively, in average written premium per exposure, increases of 5.7% and 10.9% in written exposures in our homeowners and commercial automobile business lines, respectively, and a slight decrease of 0.3% in written exposures in our personal automobile business line.

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
SYM TRADE IT LAST %CHG

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs