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Mar 31, 2020
Safety Insurance Q1 2020 Earnings Report
Reported a net loss due to change in unrealized gains and losses on equity investments
Key Takeaways
Safety Insurance Group reported a net loss of $2.0 million for Q1 2020, driven by a $30.0 million decrease in unrealized gains on equity investments. However, non-GAAP operating income per diluted share increased to $1.57, compared to $1.36 in Q1 2019.
Net loss for the quarter was $2.0 million, or $0.13 per diluted share.
Non-GAAP operating income was $1.57 per diluted share.
Direct written premiums decreased by 3.0% to $197.3 million.
Net earned premiums increased by 1.8% to $197.8 million.
Safety Insurance
Safety Insurance
Forward Guidance
The company did not provide forward guidance in the earnings report.