SAFT Q2 net income +19% to $34.5M; winter storms drive combined ratio to 104.5%

Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 8, 2025 · ~2 min read

Key Changes

• high

  $42.7M in catastrophe losses from two severe winter storms in Q1 2026 drove the six-month loss ratio from 69.3% to 76.0% and pushed the combined ratio to 104.5%, indicating underwriting losses.

  MD&A: Winter Storm catastrophe losses verify on EDGAR →
• high

  MAPFRE U.S.A. Corp. to acquire Safety Insurance at $105.00 per share in cash under definitive merger agreement signed July 23, 2026; deal subject to shareholder vote, regulatory approvals, and no material adverse effect.

  MD&A: Proposed MAPFRE acquisition verify on EDGAR →
• high

  Direct written premium fell 1.2% in Q2 2026 (vs. +9.6% in Q2 2025) as policy counts declined 8.8% in Private Passenger Auto and 4.0% in Homeowners, driven by cancellation of underperforming agency relationships.

  MD&A: Direct written premium trend verify on EDGAR →