Loading...
•
Dec 31, 2019
Safety Insurance Q4 2019 Earnings Report
Safety Insurance reported an increase in net income but a decrease in non-GAAP operating income for Q4 2019.
Key Takeaways
Safety Insurance Group, Inc. reported a rise in net income for the quarter ended December 31, 2019, reaching $28.1 million, or $1.82 per diluted share, compared to $18.3 million, or $1.19 per diluted share, in the comparable 2018 period. However, non-GAAP operating income decreased to $1.44 per diluted share from $1.83 per diluted share in the same period last year. Direct written premiums experienced a slight increase of 1.4%, while net earned premiums also saw a modest rise of 0.5%.
Net income increased to $28.1 million, or $1.82 per diluted share, compared to Q4 2018.
Non-GAAP operating income decreased to $1.44 per diluted share from $1.83 per diluted share in Q4 2018.
Direct written premiums increased by 1.4% to $189.7 million.
Net earned premiums increased by 0.5% to $199.5 million.