SAFT — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-07

• The table below shows the amount of direct written premiums written in each state during the three and six months ended June 30, 2026 and 2025.

• During the quarter ended March 31, 2026, the Northeast region was impacted by two severe winter weather events (“Winter Storms”). Beginning on January 23, 2026 through January 26, 2026, the Northeast region experienced a severe winter weather event, which developed into a nor’easter, bringing blizza…

• Direct and Net Written Premiums. For the three months ended June 30, 2026, direct written premium and net written premium decreased 1.2% and 1.9%, respectively, compared to the prior period. The decrease was primarily due to the cancellation of certain underperforming agency relationships. For the s…

• Losses and Loss Adjustment Expenses. Losses and loss adjustment expenses incurred for the three months ended June 30, 2026 increased by $887, or 0.5%, to $195,119 from $194,232 for the comparable 2025 period. Losses and loss adjustment expenses incurred for the six months ended June 30, 2026 increas…

• On July 23, 2026, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with MAPFRE U.S.A. Corp., a Massachusetts corporation (“Parent”), and Splash Merger Sub, Inc., a Delaware corporation and wholly owned direct subsidiary of Parent (“Merger Subsidiary”), pursuant to wh…

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• During the quarter ended March 31, 2026, the Northeast region was impacted by two severe winter weather events (“Winter Storms”). Beginning on January 23, 2026 and through January 26, 2026, the Northeast region experienced a severe winter weather event (“January Winter Storm”), which developed into …

• Beginning on February 22, 2026, the Northeast region experienced a severe winter weather event (“February Winter Storm”), which produced record-breaking snowfall and hurricane-force wind gusts. Areas in the region received up to 36 inches of snowfall and wind gusts exceeding 80 miles per hour. As a …

• Direct and Net Written Premiums. For the three months ended March 31, 2026, direct written premium growth and net written premium growth were 0.3% and 0.2%, respectively. The increase in premium is driven by rate increases. For the three months ended March 31, 2026, average written premium per polic…

• Losses and Loss Adjustment Expenses. Losses and loss adjustment expenses incurred for the three months ended March 31, 2026 increased by $57,200 or 30.1%, to $247,490 from $190,290 for the comparable period. Our losses and loss adjustment expenses ratio for the three months ended March 31, 2026 incr…

• Reconciliation of Net (Loss) Income to Non-GAAP Operating (Loss) Income

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• processed, summarized and reported within the time periods specified in the SEC’s rules and that information required to be disclosed in such reports is accumulated and communicated to management, including our CEO and CFO, as appropriate, to allow timely decisions regarding required disclosures.

Text added vs the prior filing · source: 10-Q · 2026-08-07

• Except as set forth below, there have been no material changes in our risk factors from those disclosed in the Company’s 2025 Annual Report on Form 10-K. The risk factors disclosed in the 2025 Annual Report on Form 10-K, in addition to the other information set forth in this Quarterly Report, could …

• The announcement and pendency of our proposed acquisition by Parent could adversely impact our business, financial condition, and results of operations.

• On July 23, 2026, we entered into the Merger Agreement. Uncertainty about the effect of the Merger on our employees, customers, and other parties may have an adverse effect on our business, financial condition, and results of operations regardless of whether the Merger is completed. These risks to o…

• ●the impairment of our ability to attract, retain, and motivate our employees, including key personnel;

• ●the diversion of significant management time and resources toward the completion of the Merger;

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• There have been no subsequent material changes from the risk factors previously disclosed in the Company’s 2025 Annual Report on Form 10-K.