Safety Insurance Group, Inc. (NASDAQ:SAFT) today reported fourth quarter and year end 2010 results. Net income for the quarter ended December 31, 2010 was $13.0 million, or $0.86 per diluted share, compared to $10.3 million, or $0.68 per diluted share, for the comparable 2009 period. Net income for the year ended December 31, 2010 was $56.3 million, or $3.74 per diluted share, compared to $54.2 million, or $3.48 per diluted share, for the comparable 2009 period. Safety’s book value per share increased to $43.37 at December 31, 2010 from $41.20 at December 31, 2009. Safety paid $0.50 per share in dividends to investors during the quarter ended December 31, 2010 compared to $0.40 per share during the comparable 2009 period. Safety paid $1.80 per share in dividends to investors during the year ended December 31, 2010 compared to $1.60 per share during the comparable 2009 period.

Direct written premiums for the quarter ended December 31, 2010 increased by $11.9 million, or 9.8%, to $133.4 million from $121.5 million for the comparable 2009 period. Direct written premiums for the year ended December 31, 2010 increased by $45.2 million, or 8.1%, to $604.9 million from $559.7 million for the comparable 2009 period. The 2010 increase occurred primarily in our personal automobile and homeowners business lines, which experienced increases of 3.8% and 3.2%, respectively, in average written premium per exposure and increases of 3.3% and 19.6%, respectively, in written exposures. Partially offsetting these increases was a 4.6% decrease in average written premium per exposure and a 2.2% decrease in written exposures in our commercial automobile business line.

Net written premiums for the quarter ended December 31, 2010 increased by $12.8 million, or 11.2%, to $126.2 million from $113.4 million for the comparable 2009 period. Net written premiums for the year ended December 31, 2010 increased by $44.2 million, or 8.3%, to $576.8 million from $532.6 million for the comparable 2009 period. The 2010 increase was primarily due to the factors that increased direct written premiums.

If you liked this article you might like

Insider Trading Alert - SAFT, CHDN And CACI Traded By Insiders

Analysts' Actions -- Archer Daniels Midland, Ingersoll-Rand, Micron, Stratasys and More

Insider Trading Alert - SAFT, HMSY And SMG Traded By Insiders

10 High-Yield Small-Cap Dividend Stocks Investors Should Consider Right Now

Insider Trading Alert - ELS, SAFT And MAIN Traded By Insiders