Safety Insurance Group (SAFT) annual balance sheet covering fiscal 2020 through 2025, as reported to the SEC.
Total assets have grown 3.8% a year on average since fiscal 2020, from $2.05B to $2.47B.
A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.
| Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||||||
Investments: | |||||||||||||||||||||
Fixed maturities, available for sale, at fair value (amortized cost: $1,365,368 and $1,337,235, allowance for expected credit losses of $355 and $0) | |||||||||||||||||||||
1,315 | 1,115 | 1,052 | 1,050 | 1,218 | 1,256 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Fixed maturities, available for sale, at fair value (amortized cost: $1,365,368 and $1,337,235, allowance for expected credit losses of $355 and $0) | 1,315 | 1,115 | 1,052 | 1,050 | 1,218 | 1,256 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Short-term investments, at fair value (cost: $0 and $19,970) | |||||||||||||||||||||
- | 19 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Short-term investments, at fair value (cost: $0 and $19,970) | - | 19 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Fixed maturities, available for sale, at fair value (amortized cost: $1,187,050 and $1,189,951, allowance for expected credit losses of $680 and $1,054) | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Fixed maturities, available for sale, at fair value (amortized cost: $1,187,050 and $1,189,951, allowance for expected credit losses of $680 and $1,054) | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Short term investments, at fair value (cost: $79 and $0) | |||||||||||||||||||||
- | - | - | - | - | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Short term investments, at fair value (cost: $79 and $0) | - | - | - | - | - | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Equity securities, at fair value (cost: $189,372 and $201,591) | |||||||||||||||||||||
220 | 221 | 238 | 240 | 264 | 205 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Equity securities, at fair value (cost: $189,372 and $201,591) | 220 | 221 | 238 | 240 | 264 | 205 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other invested assets | |||||||||||||||||||||
151 | 156 | 133 | 112 | 87 | 45 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other invested assets | 151 | 156 | 133 | 112 | 87 | 45 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total investments | |||||||||||||||||||||
1,687 | 1,513 | 1,424 | 1,403 | 1,571 | 1,507 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total investments | 1,687 | 1,513 | 1,424 | 1,403 | 1,571 | 1,507 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash and cash equivalents | |||||||||||||||||||||
73 | 58 | 38 | 25 | 63 | 53 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash and cash equivalents | 73 | 58 | 38 | 25 | 63 | 53 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts receivable, net of allowance for expected credit losses of $890 and $802 | |||||||||||||||||||||
320 | 306 | 256 | 192 | 170 | 179 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable, net of allowance for expected credit losses of $890 and $802 | 320 | 306 | 256 | 192 | 170 | 179 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts receivable, net of allowance for expected credit losses of $2,192 and $1,754 | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable, net of allowance for expected credit losses of $2,192 and $1,754 | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Receivable for securities sold | |||||||||||||||||||||
4 | 0 | 0 | 0 | 9 | 1 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Receivable for securities sold | 4 | 0 | 0 | 0 | 9 | 1 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued investment income | |||||||||||||||||||||
12 | 7 | 7 | 8 | 7 | 8 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued investment income | 12 | 7 | 7 | 8 | 7 | 8 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Taxes recoverable | |||||||||||||||||||||
- | - | 0 | - | 1 | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Taxes recoverable | - | - | 0 | - | 1 | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Receivable from reinsurers related to paid loss and loss adjustment expenses | |||||||||||||||||||||
9 | 26 | 13 | 12 | 18 | 13 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Receivable from reinsurers related to paid loss and loss adjustment expenses | 9 | 26 | 13 | 12 | 18 | 13 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Receivable from reinsurers related to unpaid loss and loss adjustment expenses | |||||||||||||||||||||
149 | 130 | 112 | 93 | 90 | 106 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Receivable from reinsurers related to unpaid loss and loss adjustment expenses | 149 | 130 | 112 | 93 | 90 | 106 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Ceded unearned premiums | |||||||||||||||||||||
39 | 41 | 32 | 28 | 23 | 22 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Ceded unearned premiums | 39 | 41 | 32 | 28 | 23 | 22 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred policy acquisition costs | |||||||||||||||||||||
111 | 105 | 91 | 75 | 73 | 74 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred policy acquisition costs | 111 | 105 | 91 | 75 | 73 | 74 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred income taxes | |||||||||||||||||||||
4 | 11 | 12 | 21 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred income taxes | 4 | 11 | 12 | 21 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Equity and deposits in pools | |||||||||||||||||||||
4 | 3 | 35 | 33 | 33 | 30 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Equity and deposits in pools | 4 | 3 | 35 | 33 | 33 | 30 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease right-of-use-assets | |||||||||||||||||||||
11 | 15 | 19 | 23 | 27 | 31 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease right-of-use-assets | 11 | 15 | 19 | 23 | 27 | 31 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Goodwill | |||||||||||||||||||||
17 | 17 | 17 | 17 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Goodwill | 17 | 17 | 17 | 17 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Intangible assets | |||||||||||||||||||||
6 | 7 | 7 | 7 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Intangible assets | 6 | 7 | 7 | 7 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets | |||||||||||||||||||||
18 | 24 | 25 | 29 | 27 | 25 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets | 18 | 24 | 25 | 29 | 27 | 25 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total assets | |||||||||||||||||||||
2,471 | 2,270 | 2,094 | 1,972 | 2,117 | 2,054 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total assets | 2,471 | 2,270 | 2,094 | 1,972 | 2,117 | 2,054 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Liabilities | |||||||||||||||||||||
Losses and loss adjustment expense reserves | |||||||||||||||||||||
761 | 671 | 603 | 549 | 570 | 567 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Losses and loss adjustment expense reserves | 761 | 671 | 603 | 549 | 570 | 567 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Unearned premium reserves | |||||||||||||||||||||
654 | 619 | 528 | 433 | 413 | 421 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Unearned premium reserves | 654 | 619 | 528 | 433 | 413 | 421 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable and accrued liabilities | |||||||||||||||||||||
80 | 77 | 64 | 73 | 76 | 79 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable and accrued liabilities | 80 | 77 | 64 | 73 | 76 | 79 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payable for securities purchased | |||||||||||||||||||||
0 | 6 | 1 | 1 | 16 | 7 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payable for securities purchased | 0 | 6 | 1 | 1 | 16 | 7 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Payable to reinsurers | |||||||||||||||||||||
15 | 19 | 15 | 11 | 9 | 8 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Payable to reinsurers | 15 | 19 | 15 | 11 | 9 | 8 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred income taxes | |||||||||||||||||||||
- | - | - | - | 15 | 17 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred income taxes | - | - | - | - | 15 | 17 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Taxes payable | |||||||||||||||||||||
3 | 1 | - | 1 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Taxes payable | 3 | 1 | - | 1 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Short-term debt | |||||||||||||||||||||
- | 30 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Short-term debt | - | 30 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Long-term debt | |||||||||||||||||||||
50 | - | 30 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Long-term debt | 50 | - | 30 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Debt | |||||||||||||||||||||
- | - | - | 35 | 30 | 30 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Debt | - | - | - | 35 | 30 | 30 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease liabilities | |||||||||||||||||||||
11 | 15 | 19 | 23 | 27 | 31 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease liabilities | 11 | 15 | 19 | 23 | 27 | 31 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other liabilities | |||||||||||||||||||||
- | - | 26 | 30 | 31 | 6 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other liabilities | - | - | 26 | 30 | 31 | 6 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total liabilities | |||||||||||||||||||||
1,578 | 1,441 | 1,289 | 1,160 | 1,190 | 1,169 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total liabilities | 1,578 | 1,441 | 1,289 | 1,160 | 1,190 | 1,169 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Commitments and contingencies (Note 8) | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Commitments and contingencies (Note 8) | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Shareholders' equity | |||||||||||||||||||||
Common stock: $0.01 par value; 30,000,000 shares authorized; 18,103,084 and 18,051,631 shares issued | |||||||||||||||||||||
0 | 0 | 0 | 0 | 0 | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Common stock: $0.01 par value; 30,000,000 shares authorized; 18,103,084 and 18,051,631 shares issued | 0 | 0 | 0 | 0 | 0 | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Additional paid-in capital | |||||||||||||||||||||
235 | 230 | 226 | 222 | 216 | 209 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Additional paid-in capital | 235 | 230 | 226 | 222 | 216 | 209 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accumulated other comprehensive loss, net of taxes | |||||||||||||||||||||
-17 | -51 | -53 | -80 | 24 | 53 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accumulated other comprehensive loss, net of taxes | -17 | -51 | -53 | -80 | 24 | 53 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Retained earnings | |||||||||||||||||||||
844 | 798 | 781 | 815 | 821 | 745 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Retained earnings | 844 | 798 | 781 | 815 | 821 | 745 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Treasury stock, at cost: 3,419,947 shares | |||||||||||||||||||||
170 | 150 | 150 | 145 | 135 | 123 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Treasury stock, at cost: 3,419,947 shares | 170 | 150 | 150 | 145 | 135 | 123 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total shareholders' equity | |||||||||||||||||||||
892 | 828 | 804 | 811 | 927 | 884 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total shareholders' equity | 892 | 828 | 804 | 811 | 927 | 884 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total liabilities and shareholders' equity | |||||||||||||||||||||
2,471 | 2,270 | 2,094 | 1,972 | 2,117 | 2,054 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total liabilities and shareholders' equity | 2,471 | 2,270 | 2,094 | 1,972 | 2,117 | 2,054 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||