Investor Information Overview
|Friday, March 24|
|Last Trade Date:||03/24/2023|
|Last Trade Time:||16:00:04|
We are a leading provider of property and casualty insurance products in Massachusetts, New Hampshire, and Maine. In addition to private passenger automobile insurance (which represented 52.0% of our direct written premiums in 2022), we offer a portfolio of property and casualty insurance products, including commercial automobile (17.4% of 2022 direct written premium), homeowners (25.3% of 2022 direct written premium), dwelling fire, umbrella and business owner policies.
Operating through our insurance subsidiaries, Safety Insurance Company, Safety Indemnity Insurance Company, Safety Property and Casualty Insurance Company, and Safety Northeast Insurance Company, we have established strong relationships with independent insurance agents, who numbered 843 in 1,071 locations during 2022.
We have used these relationships and our extensive knowledge of the Massachusetts market to become the fifth largest private passenger automobile carrier, capturing an approximate 7.7% share of the Massachusetts private passenger automobile insurance market, and the second largest commercial automobile carrier, with a 12.6% share of the Massachusetts commercial automobile insurance market in 2022.
We also are the third largest homeowners insurance carrier in Massachusetts with a 6.5% share of the Massachusetts homeowners insurance market.
Safety Northeast Insurance Agency, Inc., was established on December 1, 2022, when the Company acquired the assets and operations of Northeast Metrowest Insurance Agency, Inc. (“Northeast / Metrowest”), an independent insurance agency, through its wholly-owned subsidiary. Safety Northeast Insurance Agency, Inc. provides personal and commercial property and casualty insurance products to customers on behalf of the Insurance Subsidiaries and third-party insurance carriers.
We were incorporated under the laws of Delaware in 2001, but through our predecessors, we have underwritten insurance in Massachusetts since 1979.
Our insurance subsidiaries continue to maintain an “A (Excellent)” rating from A.M. Best Company.