Fundamentals snapshot
SAFT · NMS · Financial Services · Insurance - Property & Casualty
Current price
$103.95
52-week range
$67.04 - $104.35
Market cap
$1.53B
One-glance verdict
We don't put a cash-flow fair value on banks and insurers. For these companies the reported 'cash flow' is really just money moving between loans, deposits and trades — not the leftover profit the owners could actually pocket — so the usual method would print a misleading number.
Balance sheet
Net cash $8.14M. Interest coverage shows how many times profit covers the interest bill.
What stands out
What this company does
Safety Insurance Group sells insurance policies for cars, homes, and businesses mainly in Massachusetts, with the money primarily coming from premiums people and companies pay for coverage. This matters because insurance is a crucial service for protecting individuals and businesses from financial losses due to accidents or disasters.
Safety Insurance Group, Inc. started in 1979 as Safety Holdings Inc. and has been focused on providing insurance in Massachusetts for decades. The company officially changed its name to Safety Insurance Group, Inc. in April 2002, reflecting its established presence in the insurance market. Its long history has allowed it to build deep knowledge of the local insurance landscape, particularly for auto and home coverage. This experience is key to understanding and pricing the risks associated with insuring drivers and properties in its operating region.
Safety Insurance Group, Inc. is an insurance company that offers protection against financial losses from accidents and damages. Think of it like buying a promise that if something bad happens, like a car crash or a house fire, the insurance company will help pay for the costs. They make money by collecting payments, called premiums, from customers and then paying out claims when covered events occur. The company focuses on specific types of insurance, primarily for individuals and businesses in Massachusetts.
This is a major part of Safety Insurance's business, providing coverage for everyday car owners. It includes protection if you cause an accident that injures someone else or damages their property. It also covers your own medical expenses if you're injured in an accident (no-fault coverage) and damage to your own car from collisions or other events like theft or weather. Customers pay premiums for this coverage, and the company pays out claims if policyholders are involved in accidents.
This segment insures vehicles used for business purposes, which can range from company cars and delivery vans to larger trucks and trailers. It covers the same types of risks as personal auto insurance – damage to others and damage to the insured vehicle – but for vehicles that are part of a business operation. This can include insuring individual business vehicles or entire fleets of company cars. The premiums charged are based on the type of vehicle, its use, and the associated risks for commercial operations.
Safety Insurance provides coverage for homes, apartments, and condominiums against damage to the property itself and its contents from various risks like fire or storms. It also includes liability protection, meaning if someone gets injured on your property, the insurance can help cover their medical costs or legal expenses. This segment also includes dwelling fire insurance for homes that are not owner-occupied, such as rental properties. The company collects premiums from homeowners and property owners in exchange for this protection.
Beyond the core auto and home insurance, Safety Insurance offers additional specialized coverages. This includes business owners policies tailored for specific types of businesses like restaurants or contractors, and personal umbrella policies that provide extra liability protection above the limits of other insurance policies. They also offer inland marine coverage for valuable items that are transported and watercraft coverage for boats. These are typically add-on products that provide more comprehensive protection for their customers.
Safety Insurance Group is focused on managing risk effectively within its core markets of Massachusetts. A key priority is maintaining strong underwriting discipline, which means carefully selecting which policies to issue and at what price to ensure profitability. They are also likely focused on operational efficiency to keep costs down, which helps improve their profit margins (the percentage of revenue left after covering expenses). Building strong relationships with independent agents who sell their policies is also crucial for sustained growth and customer acquisition.
Price history
Earnings history
Click any quarter to read the call summary and what the numbers say.
Is it cheap or expensive?
For a bank or insurer, the "free cash flow" shown on its statements is mostly money flowing through loans, deposits and trades — not the leftover profit the owners could actually keep, which is what this kind of valuation needs. Running that through the usual method would spit out a meaningless number, so we leave the cash-flow fair value out here rather than show you something misleading.
Is it drowning in debt?
Net cash $8.1M - more cash than debt. Interest coverage 83.8x.
Safety Insurance Group, Inc.'s profit covers its interest bill about 83.8 times over. which is stronger than every peer shown here.
Total debt $59.77M Interest coverage 83.80x This is the baseline the peer rows are being compared against.
Total debt $146.35M Interest coverage 14.13x -83% vs SAFT Carries about 5.9x less debt cushion than SAFT.
Total debt $594.20M Interest coverage 6.53x -92% vs SAFT Carries about 12.8x less debt cushion than SAFT.
Total debt $35.00M Interest coverage 73.26x -13% vs SAFT Has roughly the same debt cushion as SAFT.
What you should know
The numbers
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Valuation
Profitability
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Cash flow
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Metric explainer
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What you should know