Safety Insurance Group's third quarter 2026 net income rose as combined ratio improved to 96.3%

Safety Insurance Group reported third quarter 2026 net income of $30.0 million, or $2.05 per diluted share, compared to $28.3 million in the prior year. Underwriting results improved significantly despite a decline in written premiums, while the company achieved its highest quarterly net investment income in history.

Key Highlights

• The combined ratio improved to 96.3% from 98.9% in the prior year, driven by better loss frequency in private passenger automobile lines and rate increases earning into revenue.
• Net investment income reached a record $17.9 million, a 15.0% increase over Q3 2025, supported by higher reinvestment rates and alternative asset returns.
• Direct written premiums fell 4.3% to $319.7 million as the company faced a softening competitive market and cancelled certain underperforming agency relationships.
• Shareholders approved the pending $1.54 billion acquisition by Mapfre S.A. on November 3, 2026, which remains subject to final regulatory approval.