TakeoverPE & activists

SAFTSAFETY INSURANCE GROUP INC

Fire, Marine & Casualty Insurance · $1.5B market cap · 568 employees

0.9×

About as likely as average to be taken private

Top 19% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

2of 15 firedHow well they predict deals →
13 other checks
  • TSR below peersNo
    —
    3+ of last 5 years
  • High CEO pay despite TSRNo
    —
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    196% of net income
    Cash flow under 80% of net income
  • Dilutive SBCNo
    0% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    40% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    1% of assets
    Over 40% of assets
  • Shareholder dissentNo
    96% lowest support
    Any vote under 80% support
  • Low revenue per employeeNo
    $2M · 65th pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    4.4 per 10K words · 80th pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    —
    More cash than debt, positive EBITDA
  • Recurring revenueNo
    6 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    0 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Active 13DNo
    0 filings
    Active-intent 13D in 18 months

Deal filings

FiledFormAcquirerPricePremium
Sep 14, 2026DEFM14AMAPFRE U.S.A. Corp.$105.0044.8%
Sep 3, 2026PREM14AMAPFRE U.S.A. Corp.$105.0044.8%
Jul 24, 20268-KMAPFRE U.S.A. Corp.——

Key numbers

Revenue
$1.3BFY2021: $885MFY2022: $798MFY2023: $931MFY2024: $1.1BFY2025: $1.3B
13% YoY
Operating margin
—
EBITDA
—
Net debt / EBITDA
—
−$18M net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$885M$798M$931M$1.1B$1.3B 13% FY2021: $885MFY2022: $798MFY2023: $931MFY2024: $1.1BFY2025: $1.3B
Net income$131M$47M$19M$71M$99M 40% FY2021: $131MFY2022: $47MFY2023: $19MFY2024: $71MFY2025: $99M
Operating cash flow$141M$44M$52M$129M$194M 51% FY2021: $141MFY2022: $44MFY2023: $52MFY2024: $129MFY2025: $194M
Capex$8M$2M$2M$4M$3M 43% FY2021: $8MFY2022: $2MFY2023: $2MFY2024: $4MFY2025: $3M
Stock-based comp$6M$6M$4M$4M$5M 7.7% FY2021: $6MFY2022: $6MFY2023: $4MFY2024: $4MFY2025: $5M
Dividends$54M$53M$53M$53M$54M 1.0% FY2021: $54MFY2022: $53MFY2023: $53MFY2024: $53MFY2025: $54M

13D filers

None on file.

Insider trading

−$139Mnet selling by insiders, open market, last 12 months
Bought $0 · 0 tradesSold $139M · 15 trades

Pay vs performance

No pay-versus-performance disclosure yet.