Safety Insurance Group, Inc. Overview
Pro stress-test →Safety Insurance Group provides private passenger and commercial automobile, and homeowner insurance in the United States, along with business owners policies covering apartments, restaurants, office condominiums, and other commercial entities. The company is a leading auto and homeowners carrier focused on Massachusetts, New Hampshire and Maine.
Strategic Profile
Pro stress-test →Safety maintains strong regional market positions with a 9.4% share of Massachusetts private passenger auto, 13.0% of commercial auto, and 7.0% of Massachusetts homeowners. The company has been profitable in 42 out of 43 years since inception in 1979, maintaining a combined ratio typically below industry averages through disciplined underwriting and conservative reserving.
Competitive Landscape
Pro stress-test →Safety competes with National General Insurance, AmTrust Financial, The Hanover Insurance Group, The Hartford and Ambac Financial Group. The company is the fourth largest private passenger auto and largest commercial auto carrier in Massachusetts. Regional focus provides differentiation in Northeast market.
Industry Context
Safety Insurance Group, Inc. operates in Property and Casualty Insurance.
Key facts
Founded: 1979 · Headquarters: Boston, MA · Employees: 551 · Revenue: $1.28B · Market cap: $1.02B