It's like a regional State Farm or Allstate, focused on auto and home insurance in Massachusetts.

Think of it as Travelers or The Hartford for the Massachusetts market, covering personal and commercial property & casualty.

• Private Passenger Automobile Insurance: Provides coverage for personal vehicles against collision, comprehensive, liability, and other related risks.
• Homeowners Insurance: Offers protection for residential properties against perils such as fire, theft, natural disasters, and personal liability.
• Commercial Automobile Insurance: Provides coverage for businesses' vehicles, including liability, collision, and comprehensive risks for fleets and individual commercial vehicles.
• Commercial Property and General Liability Insurance: Covers businesses' physical assets (property) and protects against third-party claims for bodily injury or property damage arising from business operations.
• Workers' Compensation Insurance: Provides benefits to employees for work-related injuries or illnesses, covering medical expenses, lost wages, and disability.
• Personal and Commercial Umbrella Insurance: Offers additional liability coverage above the limits of underlying auto and home policies, providing an extra layer of protection.

Safety Insurance (SAFT) primarily sells insurance policies to **individuals** and small to medium-sized businesses through independent agents. However, analyzing their premium breakdown, personal lines (auto and homeowners) typically constitute the largest portion of their business, indicating a primary focus on individuals.

Based on its product offerings, Safety Insurance serves the following major categories of individual customers:

• Individuals seeking personal automobile insurance: This represents the largest segment of their individual customer base, covering private passenger vehicles for liability, collision, comprehensive, and other related coverages.
• Individuals seeking homeowners, condominium, or renters insurance: This category includes individuals who own homes, condominiums, or rent properties, requiring coverage for their dwellings, personal property, and personal liability.

• Chubb Tempest Reinsurance Ltd. (Chubb Limited, CB)
• Everest Reinsurance Company (Everest Group, Ltd., EG)
• General Reinsurance Corporation (Berkshire Hathaway Inc., BRK.B)
• Munich Reinsurance America, Inc. (Munich Reinsurance Company, MUV2.DE)
• Odyssey Reinsurance Company (Fairfax Financial Holdings Limited, FFH)

George M. Murphy, Chairman of the Board, President and Chief Executive Officer

George M. Murphy was appointed Chief Executive Officer and President of Safety Insurance Group, Inc. on April 1, 2016, and assumed the role of Chairman of the Board on May 17, 2023. He began his career at Safety Insurance in 1989 and has held various positions of increasing responsibility within the marketing department, becoming Vice President of Marketing on October 1, 2005. His tenure has largely focused on cultivating strong relationships with Safety's network of independent agents and enhancing the company's brand recognition as a leading property and casualty insurer in New England.

Christopher T. Whitford, Vice President, Chief Financial Officer, Principal Accounting Officer and Secretary

Christopher T. Whitford serves as Vice President, Chief Financial Officer, Principal Accounting Officer, and Secretary of Safety Insurance Group, Inc.

John P. Drago, Vice President of Marketing

John P. Drago is the Vice President of Marketing at Safety Insurance Group, Inc.

Mary F. McConnell, Vice President of Underwriting

Mary F. McConnell holds the position of Vice President of Underwriting at Safety Insurance Group, Inc.

Stephen A. Varga, Vice President, Management Information Systems

Stephen A. Varga is the Vice President of Management Information Systems for Safety Insurance Group, Inc.

There are two clear emerging threats to Safety Insurance (SAFT):

1. Insurtech Companies and Digital-First Competitors: New insurance providers and business models leveraging advanced technology such as artificial intelligence, big data analytics, telematics, and the Internet of Things (IoT) to offer highly personalized, often more cost-effective, and entirely digital insurance experiences. These companies frequently bypass traditional agency distribution channels, appealing to consumers who prioritize convenience, speed, and digital interaction. This trend directly threatens Safety Insurance's core personal auto and home insurance markets by intensifying price competition, increasing customer acquisition costs, and raising customer expectations for digital service delivery. Companies like Lemonade, Root, and Branch exemplify this disruptive force in the personal lines segment.

2. Embedded Insurance by Original Equipment Manufacturers (OEMs): Vehicle manufacturers are increasingly offering their own insurance products directly to buyers of their cars. These OEMs possess a unique advantage due to direct access to real-time vehicle telematics and proprietary data, enabling more precise risk assessment and potentially lower, more personalized premiums. This model can bypass traditional auto insurers entirely for a significant segment of new car buyers. Tesla's expanding insurance offerings are a prominent example, and other automotive manufacturers are exploring similar initiatives, posing a direct threat to the personal auto insurance segment, which constitutes a substantial part of Safety Insurance's business.

Safety Insurance (SAFT) primarily offers private passenger automobile, commercial automobile, and homeowners insurance, along with dwelling fire, umbrella, and business owner policies. The company's main operating region is Massachusetts, with a growing presence in New Hampshire and Maine.

The addressable market sizes for Safety Insurance's main products or services in Massachusetts are as follows:

• Homeowners Insurance: The Massachusetts homeowners insurance market had approximately $3.4 billion in premiums during 2023. [cite: 6 from earlier search results]
• Commercial Automobile Insurance: The total premiums for commercial automobile insurance in Massachusetts amounted to $1,329,843,529 as of December 2024. [cite: 12 from earlier search results]

For the following products, specific addressable market sizes in dollar terms for the region of Massachusetts are not readily available in the provided information:

• Private Passenger Automobile Insurance: null
• Dwelling Fire Insurance: null
• Umbrella Insurance: null
• Business Owner Policies (BOP): null

Safety Insurance (SAFT) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic pricing, expansion in policyholder numbers, and favorable investment income.

The key drivers include:

1. Premium Rate Actions: Safety Insurance has been implementing premium rate actions that are "earning into our results," leading to an increase in the average premium per policy across all lines of business. This strategy has contributed to improved loss ratios and overall revenue growth.
2. Growth in Policy Counts: The company has achieved significant direct written premium growth, which is partly a result of an increase in overall policy counts. For the year ended December 31, 2024, an 8.5% increase in policy counts was a key factor in driving top-line revenue above $1 billion.
3. Net Investment Income Growth: Safety Insurance has seen a significant increase in its net investment income, attributed to higher interest rates on its fixed maturity portfolio. For the third quarter of 2025, net investment income rose by 27.2% to $15.5 million. This growth in investment income contributes to the company's overall financial strength and profitability.
4. Strategic Focus on Pricing and Underwriting: An ongoing strategic focus on disciplined pricing and underwriting has yielded positive results for Safety Insurance, including an improved combined ratio and increased net income. This operational improvement provides a solid foundation for sustainable revenue growth.

Share Repurchases

• Safety Insurance Group had a share repurchase authorization of up to $200 million.
• As of September 30, 2025, approximately $44.76 million remained available under this authorization.
• The company repurchased $40 million of common equity in 2020, $12 million in 2021, $15 million in 2022, and $5 million in 2023.

Share Issuance

• Safety Insurance Group issued restricted stock awards as incentive compensation, which are equity-classified.

Capital Expenditures

• Safety Insurance Group's capital expenditures were -12.344, which typically represents a dollar amount in millions.