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Earnings
Safety Insurance reports Q1 EPS (13c), one estimate $1.35 » 16:10
05/06/20
05/06
16:10
05/06/20
16:10
SAFT

Safety Insurance

$77.31 /

-2.61 (-3.27%)

Safety's book value…

Safety's book value per share decreased to $49.78 at March 31, 2020 from $52.55 at December 31, 2019, primarily due to changes in accumulated other comprehensive income, dividends paid to shareholders and the purchase of treasury shares during the quarter. The company said, "The COVID-19 pandemic has led to a significant amount of insurance related regulatory activity. At the state level, legislative efforts have largely focused on bills related to coverage of business interruption claims and policyholder premium relief. Currently, legislation is being pursued in more than a half a dozen states, including Massachusetts, which would mandate that insurers provide business interruption coverage to small businesses for COVID-19, even if this coverage would not otherwise be applicable based on policy language. COVID-19 did not have a material effect on our premium revenues for the first quarter of 2020. Early in the second quarter of 2020, the Company announced the Safety Personal Auto Relief Credit, a 15% policyholder credit applied to each personal auto policy for the months of April and May. Although the pandemic has resulted in fewer cars on the road, there was not a material impact to loss and loss adjustment expenses incurred during the three months ended March 31, 2020."

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