Safety Insurance Group Inc - Company Profile
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Safety Insurance Group Inc (Safety Insurance) is an insurance holding group. It is a provider of private passenger automobile, commercial automobile, and homeowners insurance. The company offers a range of insurance products, including dwelling fire, umbrella, and business owner policies. The company operates through its insurance subsidiaries, including Safety Insurance Company, Safety Property and Casualty Insurance Company, Safety Indemnity Insurance Company, and Safety Northeast Insurance Company. Safety Insurance serves individual and commercial customers, providing coverage for vehicles, homes, and businesses. The company distributes its products exclusively through a network of independent insurance agents. Safety Insurance operates in Massachusetts, New Hampshire, and Maine, focusing on these regional markets. Safety Insurance is headquartered in Boston, Massachusetts, the US.
Headquarters
United States of America
Address
20 Custom House St, Boston, Massachusetts, 02110-3513
Website
www.safetyinsurance.com
Telephone
1 302 6587581
No of Employees
568
Industry
Financial Services
Ticker Symbol & Exchange
SAFT (NASD)
Revenue (2024)
$1.3B
13.6%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
40.3%
(2024 vs 2023)
Market Cap*
$1.1B
Net Profit Margin (2024)
XYZ
23.7%
(2024 vs 2023)
* As of and is in US$
Safety Insurance Group Inc premium industry data and analytics
Products and Services
| Products |
|---|
| Private Passenger Auto Insurance |
| Commercial Auto Insurance |
| Homeowners Insurance |
| XYZ |
| XYZ |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2025 | Others | In June, AM Best downgraded the issuer credit rating of the company and its primary subsidiaries. |
| 2022 | Acquisitions/Mergers/Takeovers | In October, the company acquired the assets and operations of Northeast Insurance Agency, Inc. |
| 2022 | Contracts/Agreements | In September, the company selected Innoveo's no-code platform for its commercial auto underwriting business. |
Competitor Comparison
| Key Parameters | Safety Insurance Group Inc | Mercury General Corp | Selective Insurance Group Inc | Erie Indemnity Co | Horace Mann Educators Corp |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Boston | Los Angeles | Branchville | Erie | Springfield |
| State/Province | Massachusetts | California | New Jersey | Pennsylvania | Illinois |
| No. of Employees | 568 | 4,300 | 2,800 | 6,667 | 1,800 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| George M. Murphy | Chief Executive Officer; Chairman; President | Executive Board | 2023 | 57 |
| Christopher T. Whitford | Chief Financial Officer; Secretary; Vice President | Senior Management | 2020 | 42 |
| Paul J.Narciso | Vice President - Claims | Senior Management | 2013 | 61 |
| Mary F. McConnell | Vice President - Underwriting | Senior Management | 2024 | 41 |
| Glenn R. Hiltpold | Vice President - Actuarial Services | Senior Management | 2021 | 54 |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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