Safety Insurance Q2 net earned premiums rise; Mapfre to acquire company
SAFT•Outlook and result drivers
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Company did not provide specific guidance for future quarters or the full year
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Underwriting discipline - Co said improved combined ratio reflected underwriting discipline and ongoing pricing strategy
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Rate increases - Net earned premium growth attributed to rate increases earning into top-line results
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Agency cancellations - Decline in written premiums primarily due to cancellation of certain underperforming agency relationships
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | $325.68 mln | ||
| Q2 EPS | $2.36 | ||
| Q2 Net Income | $34.52 mln | ||
| Q2 Adjusted Operating Income | $29.67 mln | ||
| Q2 Pretax Profit | $43.76 mln |
- The one available analyst rating on the shares is "hold"
- The average consensus recommendation for the property & casualty insurance peer group is "buy."
