Safety Insurance : 2024 Annual Statement of the Safety Indemnity Insurance Company PDF

Published: 2025-03-12 08:35:09 ET SAFT

ANNUAL STATEMENT FOR THE YEAR 2024 OF THE SAFETY INDEMNITY INSURANCE COMPANY

ASSETS

Current Year

Prior Year

Net Admitted Assets

Net Admitted

Assets

Nonadmitted Assets

(Cols. 1 - 2)

Assets

Bonds (Schedule D)

162,670,245

149,205,706

Stocks (Schedule D):

2.1

Preferred stocks

2.2

Common stocks

3. Mortgage loans on real estate (Schedule B):

3.1

First liens

3.2

Other than first liens

4. Real estate (Schedule A):

4.1 Properties occupied by the company (less

encumbrances)

4.2 Properties held for the production of income

(less $

encumbrances)

4.3 Properties held for sale (less

encumbrances)

Cash ($

0 , Schedule E-Part 1), cash equivalents

1,649,480

, Schedule E-Part 2) and short-term

investments ($

0 , Schedule DA)

1,649,480

1,059,417

Contract loans (including $

0 premium notes)

Derivatives (Schedule DB)

Other invested assets (Schedule BA)

Receivables for securities

10.

Securities lending reinvested collateral assets (Schedule DL)

11.

Aggregate write-ins for invested assets

12.

Subtotals, cash and invested assets (Lines 1 to 11)

164,319,725

150,265,124

13.

Title plants less $

0 charged off (for Title insurers

only)

14.

Investment income due and accrued

972,260

942,525

15. Premiums and considerations:

15.1 Uncollected premiums and agents' balances in the course of

collection

1,867,808

1,262,036

15.2

Deferred premiums, agents' balances and installments booked but

deferred and not yet due (including $

earned

but unbilled premiums)

35,672,722

30,465,914

15.3 Accrued retrospective premiums ($

) and

contracts subject to redetermination ($

)

16.

Reinsurance:

16.1

Amounts recoverable from reinsurers

16.2

Funds held by or deposited with reinsured companies

16.3

Other amounts receivable under reinsurance contracts

17.

Amounts receivable relating to uninsured plans

18.1

Current federal and foreign income tax recoverable and interest thereon

18.2

Net deferred tax asset

2,560,985

2,182,566

19.

Guaranty funds receivable or on deposit

20.

Electronic data processing equipment and software

21. Furniture and equipment, including health care delivery assets

0 )

22.

Net adjustment in assets and liabilities due to foreign exchange rates

23.

Receivables from parent, subsidiaries and affiliates

24.

Health care ($

0 ) and other amounts receivable

25.

Aggregate write-ins for other-than-invested assets

907,651

2,903,627

26. Total assets excluding Separate Accounts, Segregated Accounts and

Protected Cell Accounts (Lines 12 to 25)

206,301,152

188,021,792

27. From Separate Accounts, Segregated Accounts and Protected

Cell Accounts

28.

Total (Lines 26 and 27)

206,301,152

188,021,792

DETAILS OF WRITE-INS

1101.

1102.

1103.

1198.

Summary of remaining write-ins for Line 11 from overflow page

1199.

Totals (Lines 1101 through 1103 plus 1198) (Line 11 above)

2501.

Equities and deposits in pools and associations

507,856

2,710,661

2502.

Premium tax recoverable

399,795

192,966

2503.

2598.

Summary of remaining write-ins for Line 25 from overflow page

2599.

Totals (Lines 2501 through 2503 plus 2598) (Line 25 above)

907,651

2,903,627

ANNUAL STATEMENT FOR THE YEAR 2024 OF THE SAFETY INDEMNITY INSURANCE COMPANY

LIABILITIES, SURPLUS AND OTHER FUNDS

Current Year

Prior Year

Losses (Part 2A, Line 35, Column 8)

43,676,576

39,228,147

Reinsurance payable on paid losses and loss adjustment expenses (Schedule F, Part 1, Column 6)

Loss adjustment expenses (Part 2A, Line 35, Column 9)

4,915,217

4,913,139

Commissions payable, contingent commissions and other similar charges

4,459,123

3,403,561

Other expenses (excluding taxes, licenses and fees)

Taxes, licenses and fees (excluding federal and foreign income taxes)

7.1

Current federal and foreign income taxes (including $

(48,679)

on realized capital gains (losses))

7.2

Net deferred tax liability

Borrowed money $

0 and interest thereon $

Unearned premiums (Part 1A, Line 38, Column 5) (after deducting unearned premiums for ceded reinsurance of

127,413,609

and including warranty reserves of $

0 and accrued accident and

health experience rating refunds including $

0 for medical loss ratio rebate per the Public Health

Service Act)

52,065,299

44,622,255

10.

Advance premium

1,609,889

1,937,788

11.

Dividends declared and unpaid:

11.1 Stockholders

11.2 Policyholders

12.

Ceded reinsurance premiums payable (net of ceding commissions)

2,196,847

13.

Funds held by company under reinsurance treaties (Schedule F, Part 3, Column 20)

14.

Amounts withheld or retained by company for account of others

15.

Remittances and items not allocated

16.

Provision for reinsurance (including $

certified) (Schedule F, Part 3, Column 78)

17.

Net adjustments in assets and liabilities due to foreign exchange rates

18.

Drafts outstanding

19.

Payable to parent, subsidiaries and affiliates

20.

Derivatives

21.

Payable for securities

22.

Payable for securities lending

23.

Liability for amounts held

under uninsured plans

24.

Capital notes $

0 and interest thereon $

25.

Aggregate write-ins for liabilities

26.

Total liabilities excluding protected cell liabilities (Lines 1 through 25)

108,922,951

94,104,891

27.

Protected cell liabilities

28.

Total liabilities (Lines 26 and 27)

108,922,951

94,104,891

29.

Aggregate write-ins for special surplus funds

30.

Common capital stock

3,500,000

31.

Preferred capital stock

32.

Aggregate write-ins for other-than-special surplus funds

33.

Surplus notes

34.

Gross paid in and contributed surplus

2,552,194

35.

Unassigned funds (surplus)

91,326,007

87,864,707

36.

Less treasury stock, at cost:

36.1

shares common (value included in Line 30

)

36.2

shares preferred (value included in Line 31

)

37.

Surplus as regards policyholders (Lines 29 to 35, less 36) (Page 4, Line 39)

97,378,201

93,916,902

38.

Totals (Page 2, Line 28, Col. 3)

206,301,152

188,021,792

DETAILS OF WRITE-INS

2501.

2502

2503

2598.

Summary of remaining write-ins for Line 25 from overflow page

2599.

Totals (Lines 2501 through 2503 plus 2598) (Line 25 above)

2901.

2902

2903

2998.

Summary of remaining write-ins for Line 29 from overflow page

2999.

Totals (Lines 2901 through 2903 plus 2998) (Line 29 above)

3201

3202

3203

3298.

Summary of remaining write-ins for Line 32 from overflow page

3299.

Totals (Lines 3201 through 3203 plus 3298) (Line 32 above)

ANNUAL STATEMENT FOR THE YEAR 2024 OF THE SAFETY INDEMNITY INSURANCE COMPANY

STATEMENT OF INCOME

Current Year

Prior Year

UNDERWRITING INCOME

Premiums earned (Part 1, Line 35, Column 4)

90,963,371

75,097,280

DEDUCTIONS:

Losses incurred (Part 2, Line 35, Column 7)

56,899,675

50,994,788

Loss adjustment expenses incurred (Part 3, Line 25, Column 1)

7,597,662

6,812,401

Other underwriting expenses incurred (Part 3, Line 25, Column 2)

28,670,923

24,561,430

Aggregate write-ins for underwriting deductions

Total underwriting deductions (Lines 2 through 5)

93,168,260

82,368,618

Net income of protected cells

Net underwriting gain (loss) (Line 1 minus Line 6 plus Line 7)

(2,204,889)

(7,271,338)

INVESTMENT INCOME

Net investment income earned (Exhibit of Net Investment Income, Line 17)

4,865,182

4,447,065

10.

Net realized capital gains (losses) less capital gains tax of $

(48,679) (Exhibit of Capital Gains (Losses))

(183,125)

11.

Net investment gain (loss) (Lines 9 + 10)

4,682,057

4,447,066

OTHER INCOME

12.

Net gain (loss) from agents' or premium balances charged off (amount recovered $

0 amount

charged off $

0 )

13.

Finance and service charges not included in premiums

1,864,971

1,576,376

14.

Aggregate write-ins for miscellaneous income

15.

Total other income (Lines 12 through 14)

1,864,971

1,576,376

16.

Net income before dividends to policyholders, after capital gains tax and before all other federal and foreign income taxes

(Lines 8 + 11 + 15)

4,342,138

(1,247,897)

17.

Dividends to policyholders

18.

Net income, after dividends to policyholders, after capital gains tax and before all other federal and foreign income taxes

(Line 16 minus Line 17)

4,342,138

(1,247,897)

19.

Federal and foreign income taxes incurred

1,259,258

85,682

20.

Net income (Line 18 minus Line 19) (to Line 22)

3,082,880

(1,333,579)

CAPITAL AND SURPLUS ACCOUNT

21.

Surplus as regards policyholders, December 31 prior year (Page 4, Line 39, Column 2)

93,916,902

94,878,412

22.

Net income (from Line 20)

3,082,880

(1,333,579)

23.

Net transfers (to) from Protected Cell accounts

24.

Change in net unrealized capital gains or (losses) less capital gains tax of $

25.

Change in net unrealized foreign exchange capital gain (loss)

26.

Change in net deferred income tax

378,419

372,068

27.

Change in nonadmitted assets (Exhibit of Nonadmitted Assets, Line 28, Col. 3)

28.

Change in provision for reinsurance (Page 3, Line 16, Column 2 minus Column 1)

29.

Change in surplus notes

30.

Surplus (contributed to) withdrawn from protected cells

31.

Cumulative effect of changes in accounting principles

32.

Capital changes:

32.1 Paid in

32.2 Transferred from surplus (Stock Dividend)

32.3 Transferred to surplus

33.

Surplus adjustments:

33.1 Paid in

33.2 Transferred to capital (Stock Dividend)

33.3 Transferred from capital

34.

Net remittances from or (to) Home Office

35.

Dividends to stockholders

36.

Change in treasury stock (Page 3, Lines 36.1 and 36.2, Column 2 minus Column 1)

37.

Aggregate write-ins for gains and losses in surplus

38.

Change in surplus as regards policyholders for the year (Lines 22 through 37)

3,461,299

(961,511)

39.

Surplus as regards policyholders, December 31 current year (Line 21 plus Line 38) (Page 3, Line 37)

97,378,201

93,916,902

DETAILS OF WRITE-INS

0501.

0502.

0503.

0598.

Summary of remaining write-ins for Line 5 from overflow page

0599.

Totals (Lines 0501 through 0503 plus 0598) (Line 5 above)

1401.

1402.

1403.

1498.

Summary of remaining write-ins for Line 14 from overflow page

1499.

Totals (Lines 1401 through 1403 plus 1498) (Line 14 above)

3701.

3702.

3703.

3798.

Summary of remaining write-ins for Line 37 from overflow page

3799.

Totals (Lines 3701 through 3703 plus 3798) (Line 37 above)

ANNUAL STATEMENT FOR THE YEAR 2024 OF THE SAFETY INDEMNITY INSURANCE COMPANY

CASH FLOW

Current Year

Prior Year

Cash from Operations

Premiums collected net of reinsurance

94,462,783

77,560,544

Net investment income

5,003,667

4,485,500

Miscellaneous income

1,864,971

1,576,376

Total (Lines 1 through 3)

101,331,421

83,622,420

Benefit and loss related payments

52,451,246

47,827,757

Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts

Commissions, expenses paid and aggregate write-ins for deductions

35,210,946

32,172,476

Dividends paid to policyholders

Federal and foreign income taxes paid (recovered) net of $

(48,679) tax on capital gains (losses)

1,210,579

85,682

10.

Total (Lines 5 through 9)

88,872,771

80,085,914

11.

Net cash from operations (Line 4 minus Line 10)

12,458,650

3,536,506

12.

Cash from Investments

Proceeds from investments sold, matured or repaid:

12.1

Bonds

25,700,048

4,710,425

12.2

Stocks

12.3

Mortgage loans

12.4

Real estate

12.5

Other invested assets

12.6

Net gains or (losses) on cash, cash equivalents and short-term investments

12.7

Miscellaneous proceeds

13.

12.8

Total investment proceeds (Lines 12.1 to 12.7)

25,700,048

4,710,425

Cost of investments acquired (long-term only):

13.1

Bonds

39,564,611

8,341,639

13.2

Stocks

13.3

Mortgage loans

13.4

Real estate

13.5

Other invested assets

13.6

Miscellaneous applications

14.

13.7

Total investments acquired (Lines 13.1 to 13.6)

39,564,611

8,341,639

Net increase/(decrease) in contract loans and premium notes

15.

Net cash from investments (Line 12.8 minus Line 13.7 minus Line 14)

(13,864,563)

(3,631,214)

16.

Cash from Financing and Miscellaneous Sources

Cash provided (applied):

16.1

Surplus notes, capital notes

16.2

Capital and paid in surplus, less treasury stock

16.3

Borrowed funds

16.4

Net deposits on deposit-type contracts and other insurance liabilities

16.5

Dividends to stockholders

17.

16.6

Other cash provided (applied)

1,995,976

(1,902,791)

Net cash from financing and miscellaneous sources (Lines 16.1 to 16.4 minus Line 16.5 plus Line 16.6)

1,995,976

(1,902,791)

18.

RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17)

590,063

(1,997,500)

19.

Cash, cash equivalents and short-term investments:

19.1

Beginning of year

1,059,417

3,056,917

19.2

End of year (Line 18 plus Line 19.1)

1,649,480

1,059,417

ANNUAL STATEMENT FOR THE YEAR 2024 OF THE SAFETY INDEMNITY INSURANCE COMPANY

UNDERWRITING AND INVESTMENT EXHIBIT

PART 1 - PREMIUMS EARNED

Unearned Premiums

Net Premiums

Dec. 31 Prior Year -

Dec. 31 Current

Premiums Earned

Written per

per Col. 3, Last Year's

Year - per Col. 5

During Year

Line of Business

Column 6, Part 1B

Part 1

Part 1A

(Cols. 1 + 2 - 3)

Fire

534,304

245,264

317,110

462,459

2.1

Allied lines

561,797

294,156

321,202

534,751

2.2

Multiple peril crop

2.3

Federal flood

2.4

Private crop

2.5

Private flood

Farmowners multiple peril

Homeowners multiple peril

21,928,394

12,091,632

13,605,774

20,414,252

5.1

Commercial multiple peril (non-liability portion)

1,195,681

678,886

738,061

1,136,506

5.2

Commercial multiple peril (liability portion)

1,143,528

408,330

490,238

1,061,620

Mortgage guaranty

Ocean marine

9.1

Inland marine

650,818

371,183

393,520

628,480

9.2

Pet insurance plans

10.

Financial guaranty

11.1

Medical professional liability-occurrence

11.2

Medical professional liability-claims-made

12.

Earthquake

13.1

Comprehensive (hospital and medical) individual

13.2

Comprehensive (hospital and medical) group

14.

Credit accident and health (group and individual)

15.1

Vision only

15.2

Dental only

15.3

Disability income

15.4

Medicare supplement

15.5

Medicaid Title XIX

15.6

Medicare Title XVIII

15.7

Long-term care

15.8

Federal employees health benefits plan

15.9

Other health

16.

Workers' compensation

17.1

Other liability-occurrence

931,613

423,975

474,742

880,845

17.2

Other liability-claims-made

17.3

Excess workers' compensation

18.1

Products liability-occurrence

18.2

Products liability-claims-made

19.1

Private passenger auto no-fault (personal injury protection)

2,134,621

925,845

1,073,828

1,986,638

19.2

Other private passenger auto liability

28,987,591

12,322,947

14,570,989

26,739,549

19.3

Commercial auto no-fault (personal injury protection)

145,022

51,517

63,670

132,869

19.4

Other commercial auto liability

7,462,108

3,767,981

3,657,661

7,572,428

21.1

Private passenger auto physical damage

28,598,304

11,557,564

14,303,335

25,852,533

21.2

Commercial auto physical damage

4,132,634

1,482,975

2,055,169

3,560,440

22.

Aircraft (all perils)

23.

Fidelity

24.

Surety

26.

Burglary and theft

27.

Boiler and machinery

28.

Credit

29.

International

30.

Warranty

31.

Reinsurance-nonproportional assumed property

32.

Reinsurance-nonproportional assumed liability

33.

Reinsurance-nonproportional assumed financial lines

34.

Aggregate write-ins for other lines of business

35.

TOTALS

98,406,415

44,622,255

52,065,299

90,963,371

DETAILS OF WRITE-INS

3401.

3402.

3403.

3498.

Sum. of remaining write-ins for Line 34 from overflow page

3499.

Totals (Lines 3401 through 3403 plus 3498) (Line 34 above)

ANNUAL STATEMENT FOR THE YEAR 2024 OF THE SAFETY INDEMNITY INSURANCE COMPANY

UNDERWRITING AND INVESTMENT EXHIBIT

PART 1A - RECAPITULATION OF ALL PREMIUMS

Amount Unearned

Reserve for Rate

(Running One Year or

(Running More Than

Credits and

Less from Date of

One Year from Date

Earned

Retrospective

Total Reserve for

Policy)

of Policy)

but

Adjustments Based

Unearned Premiums

Line of Business

(a)

Unbilled Premium

on Experience

Cols. 1+2+3+4

Fire

317,110

2.1

Allied lines

321,202

2.2

Multiple peril crop

2.3

Federal flood

2.4

Private crop

2.5

Private flood

Farmowners multiple peril

Homeowners multiple peril

13,605,774

5.1

Commercial multiple peril (non-liability portion)

738,061

5.2

Commercial multiple peril (liability portion)

490,238

Mortgage guaranty

Ocean marine

9.1

Inland marine

393,520

9.2

Pet insurance plans

10.

Financial guaranty

11.1

Medical professional liability-occurrence

11.2

Medical professional liability-claims-made

12.

Earthquake

13.1

Comprehensive (hospital and medical) individual

13.2

Comprehensive (hospital and medical) group

14.

Credit accident and health (group and individual)

15.1

Vision only

15.2

Dental only

15.3

Disability income

15.4

Medicare supplement

15.5

Medicaid title XIX

15.6

Medicare title XVIII

15.7

Long-term care

15.8

Federal employees health benefits plan

15.9

Other health

16.

Workers' compensation

17.1

Other liability-occurrence

474,742

17.2

Other liability-claims-made

17.3

Excess workers' compensation

18.1

Products liability-occurrence

18.2

Products liability-claims-made

19.1 Private passenger auto no-fault (personal injury

protection)

1,073,828

19.2

Other private passenger auto liability

14,570,989

19.3 Commercial auto no-fault (personal injury

protection)

63,670

19.4

Other commercial auto liability

3,657,661

21.1

Private passenger auto physical damage

14,303,335

21.2

Commercial auto physical damage

2,055,169

22.

Aircraft (all perils)

23.

Fidelity

24.

Surety

26.

Burglary and theft

27.

Boiler and machinery

28.

Credit

29.

International

30.

Warranty

31.

Reinsurance-nonproportional assumed property

32.

Reinsurance-nonproportional assumed liability

33. Reinsurance-nonproportional assumed financial

lines

34.

Aggregate write-ins for other lines of business

35.

TOTALS

52,065,299

36.

Accrued retrospective premiums based on experience

37.

Earned but unbilled premiums

38.

Balance (Sum of Lines 35 through 37)

52,065,299

DETAILS OF WRITE-INS

3401.

3402.

3403.

3498.

Sum. of remaining write-ins for Line 34 from

overflow page

3499.

Totals (Lines 3401 through 3403 plus 3498) (Line

34 above)

(a) State here basis of computation used in each case. All lines of business are computed using the daily pro rata method.

ANNUAL STATEMENT FOR THE YEAR 2024 OF THE SAFETY INDEMNITY INSURANCE COMPANY

UNDERWRITING AND INVESTMENT EXHIBIT

PART 1B - PREMIUMS WRITTEN

Reinsurance Assumed

Reinsurance Ceded

Direct

Net Premiums

Line of Business

Business

From

Written Cols.

(a)

Affiliates

Non-Affiliates

Affiliates

Non-Affiliates

1+2+3-4-5

Fire

534,304

2.1

Allied lines

561,797

2.2

Multiple peril crop

2.3

Federal flood

2.4

Private crop

2.5

Private flood

Farmowners multiple peril

Homeowners multiple peril

165,631,902

21,928,394

165,631,902

21,928,394

5.1

Commercial multiple peril (non-liability portion)

6,567,729

1,195,681

6,567,729

1,195,681

5.2

Commercial multiple peril (liability portion)

1,379,955

1,143,528

1,379,955

1,143,528

Mortgage guaranty

Ocean marine

9.1

Inland marine

4,244,308

650,818

4,244,308

650,818

9.2

Pet insurance plans

10.

Financial guaranty

11.1

Medical professional liability-occurrence

11.2

Medical professional liability-claims-made

12.

Earthquake

13.1

Comprehensive (hospital and medical) individual

13.2

Comprehensive (hospital and medical) group

14.

Credit accident and health (group and individual)

15.1

Vision only

15.2

Dental only

15.3

Disability income

15.4

Medicare supplement

15.5

Medicaid Title XIX

15.6

Medicare Title XVIII

15.7

Long-term care

15.8

Federal employees health benefits plan

15.9

Other health

16.

Workers' compensation

17.1

Other liability-occurrence

14,654

931,613

14,654

931,613

17.2

Other liability-claims-made

17.3

Excess workers' compensation

18.1

Products liability-occurrence

18.2

Products liability-claims-made

19.1

Private passenger auto no-fault (personal injury protection)

2,134,621

19.2

Other private passenger auto liability

28,987,591

19.3

Commercial auto no-fault (personal injury protection)

689,989

145,022

689,989

145,022

19.4

Other commercial auto liability

40,491,661

7,462,108

40,491,661

7,462,108

21.1

Private passenger auto physical

28,598,304

21.2

Commercial auto physical damage

22,889,826

4,132,634

22,889,826

4,132,634

22.

Aircraft (all perils)

23.

Fidelity

24.

Surety

26.

Burglary and theft

27.

Boiler and machinery

28.

Credit

29.

International

30.

Warranty

31.

Reinsurance-nonproportional assumed property

XXX

32.

Reinsurance-nonproportional assumed liability

XXX

33.

Reinsurance-nonproportional assumed financial lines

XXX

34.

Aggregate write-ins for other lines of business

35.

TOTALS

241,910,023

98,406,415

241,910,023

98,406,415

DETAILS OF WRITE-INS

3401.

3402.

3403.

3498.

Sum. Of remaining write-ins for Line 34 from overflow page

3499.

Totals (Lines 3401 through 3403 plus 3498) (Line 34 above)

(a) Does the company's direct premiums written include premiums recorded on an installment basis?

Yes

[ ] No [ X ]

If yes: 1.

The amount of such installment premiums $

Amount at which such installment premiums would have been reported had they been recorded on an annualized basis $

ANNUAL STATEMENT FOR THE YEAR 2024 OF THE SAFETY INDEMNITY INSURANCE COMPANY

UNDERWRITING AND INVESTMENT EXHIBIT

PART 2 - LOSSES PAID AND INCURRED

Losses Paid Less Salvage

Net Losses

Percentage of Losses Incurred

Unpaid

Net Losses

Losses Incurred

(Col. 7, Part 2)

Reinsurance

Net Payments

Current Year

Unpaid

Current Year

to Premiums Earned

Line of Business

Direct Business

Assumed

Recovered

(Cols. 1 + 2 - 3)

(Part 2A, Col. 8)

Prior Year

(Cols. 4 + 5 - 6)

(Col. 4, Part 1)

Fire

169,540

237,369

92,957

313,952

67.9

2.1

Allied lines

166,700

307,354

375,823

98,231

18.4

2.2

Multiple peril crop

0.0

2.3

Federal flood

0.0

2.4

Private crop

0.0

2.5

Private flood

0.0

Farmowners multiple peril

0.0

Homeowners multiple peril

49,343,242

8,000,303

49,343,242

8,000,303

7,767,224

7,973,971

7,793,555

38.2

5.1

Commercial multiple peril (non-liability portion)

2,689,103

330,588

2,689,103

330,588

589,584

780,112

140,060

12.3

5.2

Commercial multiple peril (liability portion)

394,455

421,832

394,455

421,832

2,184,153

2,478,832

127,153

12.0

Mortgage guaranty

0.0

Ocean marine

0.0

9.1

Inland marine

639,169

91,220

639,169

91,220

66,979

50,960

107,239

17.1

9.2

Pet insurance plans

0.0

10.

Financial guaranty

0.0

11.1

Medical professional liability-occurrence

0.0

11.2

Medical professional liability-claims-made

0.0

12.

Earthquake

0.0

13.1.

Comprehensive (hospital and medical) individual

0.0

13.2.

Comprehensive (hospital and medical) group

0.0

14.

Credit accident and health (group and individual)

0.0

15.1.

Vision only

0.0

15.2.

Dental only

0.0

15.3.

Disability income

0.0

15.4.

Medicare supplement

0.0

15.5.

Medicaid Title XIX

0.0

15.6.

Medicare Title XVIII

0.0

15.7.

Long-term care

0.0

15.8.

Federal employees health benefits plan

0.0

15.9.

Other health

0.0

16.

Workers' compensation

0.0

17.1

Other liability-occurrence

270,000

2,029,323

2,291,278

8,046

0.9

17.2

Other liability-claims-made

0.0

17.3

Excess workers' compensation

0.0

18.1

Products liability-occurrence

0.0

18.2

Products liability-claims-made

0.0

19.1

Private passenger auto no-fault (personal injury protection)

1,532,622

27,588

(31,354)

1,591,564

80.1

19.2

Other private passenger auto liability

17,170,371

20,134,826

16,311,020

20,994,178

78.5

19.3

Commercial auto no-fault (personal injury protection)

224,542

51,723

224,542

51,723

27,426

40,204

38,945

29.3

19.4

Other commercial auto liability

16,630,779

3,506,514

16,630,779

3,506,514

8,830,859

7,957,022

4,380,351

57.8

21.1

Private passenger auto physical damage

18,431,930

1,083,704

524,645

18,990,989

73.5

21.2

Commercial auto physical damage

14,358,320

2,307,902

14,358,320

2,307,902

390,186

382,677

2,315,411

65.0

22.

Aircraft (all perils)

0.0

23.

Fidelity

0.0

24.

Surety

0.0

26.

Burglary and theft

0.0

27.

Boiler and machinery

0.0

28.

Credit

0.0

29.

International

0.0

30.

Warranty

0.0

31.

Reinsurance-nonproportional assumed property

XXX

0.0

32.

Reinsurance-nonproportional assumed liability

XXX

0.0

33.

Reinsurance-nonproportional assumed financial lines

XXX

0.0

34.

Aggregate write-ins for other lines of business

0.0

35.

TOTALS

84,279,611

52,451,246

84,279,611

52,451,246

43,676,576

39,228,147

56,899,675

62.6

DETAILS OF WRITE-INS

3401.

0.0

3402.

0.0

3403.

0.0

3498.

Sum. of remaining write-ins for Line 34 from overflow page

0.0

3499.

Totals (Lines 3401 through 3403 + 3498) (Line 34 above)

0.0

ANNUAL STATEMENT FOR THE YEAR 2024 OF THE SAFETY INDEMNITY INSURANCE COMPANY

UNDERWRITING AND INVESTMENT EXHIBIT

PART 2A - UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSES

Reported Losses

Incurred But Not Reported

Net Losses Excl. Incurred

Net Losses

Net Unpaid Loss

Line of Business

Reinsurance

Deduct Reinsurance

But Not Reported

Reinsurance

Unpaid

Adjustment

Direct

Assumed

Recoverable

(Cols. 1+2-3)

Direct

Assumed

Ceded

(Cols. 4+5+6-7)

Expenses

Fire

239,705

(2,336)

237,369

15,754

2.1

Allied lines

255,316

52,038

307,354

32,684

2.2

Multiple peril crop

2.3

Federal flood

2.4

Private crop

2.5

Private flood

Farmowners multiple peril

Homeowners multiple peril

60,020,429

9,053,301

60,020,429

9,053,301

(8,517,411)

(1,286,077)

(8,517,411)

7,767,224

588,198

5.1

Commercial multiple peril (non-liability portion)

4,223,479

511,091

4,223,479

511,091

287,767

78,493

287,767

589,584

136,162

5.2

Commercial multiple peril (liability portion)

3,661,346

1,812,771

3,661,346

1,812,771

417,410

371,382

417,410

2,184,153

206,551

Mortgage guaranty

Ocean marine

9.1

Inland marine

396,350

49,123

396,350

49,123

105,179

17,855

105,179

66,979

2,281

9.2

Pet insurance plans

10.

Financial guaranty

11.1

Medical professional liability-occurrence

11.2

Medical professional liability-claims-made

12.

Earthquake

13.1

Comprehensive (hospital and medical) individual

(a)

13.2

Comprehensive (hospital and medical) group

(a)

14.

Credit accident and health (group and individual)

15.1

Vision only

(a)

15.2

Dental only

(a)

15.3

Disability income

(a)

15.4

Medicare supplement

(a)

15.5

Medicaid Title XIX

(a)

15.6

Medicare Title XVIII

(a)

15.7

Long-term care

(a)

15.8

Federal employees health benefits plan

(a)

15.9

Other health

(a)

16.

Workers' compensation

17.1

Other liability-occurrence

1,058,171

971,153

2,029,323

127,927

17.2

Other liability-claims-made

17.3

Excess workers' compensation

18.1

Products liability-occurrence

18.2

Products liability-claims-made

19.1

Private passenger auto no-fault (personal injury protection)

1,383,173

(1,355,585)

27,588

118,240

19.2

Other private passenger auto liability

23,501,534

(3,366,708)

20,134,826

2,297,697

19.3

Commercial auto no-fault (personal injury protection)

352,610

82,754

352,610

82,754

(200,619)

(55,328)

(200,619)

27,426

7,621

19.4

Other commercial auto liability

43,762,271

8,130,695

43,762,271

8,130,695

(1,417,769)

700,164

(1,417,769)

8,830,859

1,176,171

21.1

Private passenger auto physical damage

3,356,905

(2,273,201)

1,083,704

172,966

21.2

Commercial auto physical damage

2,137,186

304,818

2,137,186

304,818

(1,078,000)

85,368

(1,078,000)

390,186

32,965

22.

Aircraft (all perils)

23.

Fidelity

24.

Surety

26.

Burglary and theft

27.

Boiler and machinery

28.

Credit

29.

International

30.

Warranty

31.

Reinsurance-nonproportional assumed property

XXX

32.

Reinsurance-nonproportional assumed liability

XXX

33.

Reinsurance-nonproportional assumed financial lines

XXX

34.

Aggregate write-ins for other lines of business

35.

TOTALS

114,553,671

49,739,357

114,553,671

49,739,357

(10,403,443)

(6,062,782)

(10,403,443)

43,676,576

4,915,217

DETAILS OF WRITE-INS

3401.

3402.

3403.

3498.

Sum. of remaining write-ins for Line 34 from overflow page

3499.

Totals (Lines 3401 through 3403 + 3498) (Line 34 above)

(a) Including $

0 for present value of life indemnity claims reported in lines 13 and 15.

Disclaimer

Safety Insurance Group Inc. published this content on March 12, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on March 12, 2025 at 12:34:47.163.