Safety Insurance Group’s Q4 Results: Positives and Negatives
Dean Morel submits: Safety Insurance Group Inc. ( SAFT ) the second largest private passenger insurer in Massachusetts, reported Q4 2009 earnings in-line with analysts expectations of $0.93 (see conference call transcript here ). The results are better than a quick glance conveys as the headline numbers appear disappointing due to the one off settlement with the Massachusetts Attorney General’s office. Price to book is still under one, but has narrowed to 0.94. Earnings improvement YoY continues to suggest stabilization of business, though analysts are still predicting YoY earnings deterioration. 1.3M shares bought back at around the lows of the year. Complete Story »…(read more)
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