Schedule II - Condensed Financial Information of the Registrant

12 Months Ended

Dec. 31, 2025

Schedule II - Condensed Financial Information of the Registrant

Schedule II - Condensed Financial Information of the Registrant

Safety Insurance Group, Inc.

Condensed Financial Information of the Registrant

Condensed Balance Sheets

Schedule II

(Dollars in thousands)

	Years Ended December 31,
	2025		2024
Assets
Investments in consolidated affiliates	$	943,978	$	829,749
Other		—		—
Total assets	$	943,978	$	829,749
Liabilities
Long-term Debt	$	50,000		—
Accounts payable and other liabilities		1,667	$	1,285
Total liabilities		51,667		1,285
Shareholders’ equity		892,311		828,464
Total liabilities and shareholders’ equity	$	943,978	$	829,749

The condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto.

Safety Insurance Group, Inc.

Condensed Financial Information of the Registrant

Condensed Statements of Operations and Comprehensive Income

Schedule II

(Dollars in thousands)

	Years Ended December 31,
	2025		2024		2023
Revenues	$	—	$	—	$	—
Expenses		3,234		2,022		2,110
Net loss		(3,234)		(2,022)		(2,110)
Earnings from consolidated subsidiaries		102,489		72,756		20,985
Net income		99,255		70,734		18,875
Other comprehensive income, net of tax		33,914		2,144		27,347
Comprehensive income	$	133,169	$	72,878	$	46,222

The condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto.

Safety Insurance Group, Inc.

Condensed Financial Information of the Registrant

Condensed Statements of Cash Flows

Schedule II

(Dollars in thousands)

	Years Ended December 31,
	2025		2024		2023
Net income	$	99,255	$	70,734	$	18,875
Adjustments to reconcile net income to net cash provided by operating activities:
Earnings from consolidated subsidiaries		(102,489)		(72,756)		(20,985)
Dividends received from consolidated subsidiaries(1)		51,993		51,123		56,329
Amortization of restricted stock expense		4,830		4,454		4,467
Changes in assets and liabilities:
Intercompany receivable / payable		(106)		247		197
Other assets		—		—		9
Accounts payable and accrued liabilities		382		(477)		(361)
Net cash provided by operating activities		53,865		53,325		58,531
Contributed capital		(30,000)		—		—
Net cash provided by investing activities		(30,000)		—		—
Dividends paid		(53,865)		(53,325)		(53,291)
Proceeds from Citizens loan		50,000		—		—
Acquisition of treasury stock		(20,000)		—		(5,240)
Net cash used for financing activities		(23,865)		(53,325)		(58,531)
Net increase in cash and cash equivalents		—		—		—
Cash and cash equivalents, beginning of year		—		—		—
Cash and cash equivalents, end of year	$	—	$	—	$	—
Supplemental disclosure of cash flow information:
Cash paid during the year for:
Interest	$	1,324	$	60	$	75

(1) No portion of the dividends received from operating subsidiaries during 2025, 2024 or 2023 represent returns of capital and therefore no portion is presented as an investing activity.

The condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto.