George M. Murphy is the President and CEO of Safety Insurance Group, which he joined in 2016 after a long career at the company that started back in 1989. Before becoming CEO, he was the Vice President of Marketing, giving...

George M. Murphy is the President and CEO of Safety Insurance Group, which he joined in 2016 after a long career at the company that started back in 1989. Before becoming CEO, he was the Vice President of Marketing, giving him a strong background in understanding customer needs and the insurance market. Murphy’s leadership style emphasizes performance and accountability, which is reflected in the company’s approach to executive compensation—focused on results. In 2023, he earned $962,783, including a salary of $800,000, but no bonuses or stock was vested this year due to performance metrics not being met. A key point about Murphy is his insider trading activity; he has managed significant assets, peaking in 2021 when his holdings valued around $7.32 million. His steady nature and marketing expertise guide Safety Insurance in a competitive industry, which continues to evolve with time. Murphy also serves on the Board, showing his commitment to governance and strategic direction.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Safety Insurance Group CEOs

S

George M. Murphy

CEO of Safety Insurance Group

Education

Not specified

Field of Expertise

Sales & Marketing - Marketing

Sector of Economy

Financial Services

Born

January 1, 1966 - 59 years ago

CEO of Safety Insurance Group for

9 years 0 months (Apr 2016 - Present)

Previous Experience

Held various marketing positions with the Company since 1989; served as Vice President of Marketing since 2005.

Rivals

Competitors/colleagues of George M. Murphy

T

Joseph M. Zubretsky

CEO of The Hanover Insurance Group

2023 Compensation

Stock

$1.15M

Salary

$1.10M

Bonus

$2.04M

Other

$87.75K

Total Holdings

$110.57M

Holdings

See how much did George M. Murphy make over time.

George M. Murphy has seen notable fluctuations in his personal investments tied to Safety Insurance. His holdings peaked in March 2021, valued at $7.32 million, demonstrating positive market sentiment at that time. However, since then, the value of his holdings...

George M. Murphy has seen notable fluctuations in his personal investments tied to Safety Insurance. His holdings peaked in March 2021, valued at $7.32 million, demonstrating positive market sentiment at that time. However, since then, the value of his holdings has seen some reduction, hovering around $6.89 million as of September 2023. This shows a reflection of the company's performance and how it aligns with his wealth as an insider. Murphy has been actively trading as well, with notable values observed monthly, indicating a hands-on approach to managing his financial interests tied to the company. These movements illustrate both the volatility of stock-based wealth and the regulatory environment in which he operates. Overall, his activity signifies a significant personal stake in Safety Insurance, reinforcing his role and interests in the firm.

Total Stock Sold

$601.41K

SAFT

$601.41K

11,229 SAFT shares

What if they kept their stock?

If George M. Murphy didn't sell their stock, today they would have:
Extra SAFT11,229 shares worth $879.90K.
This is 46.31% and $278.50K more than what they got when they sold the stock.

Insider Trading

See recent insider trades of George M. Murphy.

SAFT

12,497 shares

SAFT

Feb 27, 2024

Received

SAFT

11,220 shares

SAFT

Feb 22, 2023

Received

SAFT

10,222 shares

SAFT

Feb 23, 2022

Received

SAFT

10,151 shares

SAFT

Feb 24, 2021

Received

SAFT

8,781 shares

SAFT

Feb 26, 2020

Received

SAFT

8,351 shares

SAFT

Feb 26, 2019

Received

SAFT

10,891 shares

SAFT

Feb 26, 2018

Received

SAFT

$179.67K

SAFT at $71.87/share

Feb 22, 2017

Sale

SAFT

10,764 shares

SAFT

Feb 22, 2017

Received

SAFT

10,000 shares

SAFT

Apr 1, 2016

Received

Compensation History

See how much did George M. Murphy make over time.

In 2023, George M. Murphy's total compensation was $962,783. His salary stood at $800,000, which has remained fairly consistent since previous years. Notably, there were no bonuses or vested stock grants due to performance metrics not being achieved. This indicates a strict performance-based compensation approach at Safety Insurance, where rewards are closely tied to meeting set financial goals. Looking back at past compensation, it reached a high of approximately $2.6 million in 2021, driven by a significant bonus based on performance metrics that year. This pattern underscores how the company monitors and adjusts executive pay based on performance, aligning with shareholder interests. Murphy's compensation reflects this philosophy, emphasizing accountability and results in leadership.

Year

2023

Total Compensation

$962.78K

Salary

$800.00K

Board Justification

The compensation philosophy is to attract, motivate, and retain key executives while aligning their interests with those of stockholders through performance-based incentives.

Bonus

$0.00

Board Justification

No annual incentive bonus was paid for 2023 due to performance results being below threshold.

Other

$162.78K

Board Justification

Includes employer matching contributions to the EICP, 401(k) match, and other benefits such as life insurance premiums and use of a company car.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock grants were vested in 2023 as the performance metrics were not met.

Performance Metrics

The primary performance metrics for 2023 included earnings before interest, taxes, changes in unrealized gains and losses on equity securities and credit loss expense, and combined ratio.

Other Safety Insurance Group CEOs

Here are other CEOs of Safety Insurance Group

David F. Brussard

Ex-CEO of Safety Insurance Group

January 2002 - March 2016