SAFTSAFETY INSURANCE GROUP INC
Fire, Marine & Casualty Insurance
- Revenue
- $1.3B
- 13% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $1.5B
- Employees
- 568
- $2M revenue each
- Net debt / EBITDA
- —
- −$18M net debt
- AI in 10-K
- 4.4
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo196% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo40% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentNo96% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$2M · 65th pctBottom quartile of its SIC industry
- Quiet on AINo4.4 per 10K words · 80th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.5B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$139M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $885M | $798M | $931M | $1.1B | $1.3B | 13% |
| Net income | $131M | $47M | $19M | $71M | $99M | 40% |
| Operating cash flow | $141M | $44M | $52M | $129M | $194M | 51% |
| Capex | $8M | $2M | $2M | $4M | $3M | 43% |
| Stock-based comp | $6M | $6M | $4M | $4M | $5M | 7.7% |
| Dividends | $54M | $53M | $53M | $53M | $54M | 1.0% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Sep 14, 2026 | DEFM14A | MAPFRE U.S.A. Corp. | $105.00 | 44.8% |
| Sep 3, 2026 | PREM14A | MAPFRE U.S.A. Corp. | $105.00 | 44.8% |
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $139M · 15
- Net
- −$139M
Pay vs performance
No pay-versus-performance disclosure yet.