Activist investor Ides Capital has written a letter to Safety Insurance Group’s board of directors calling on the company to add two of its director candidates to its board, immediately begin buying back 10% of its shares and take strong action to improve its environmental, social and corporate governance (ESG) practices.
Ides Capital Management said it has amassed about a 1% stake in the $1.25bn-market cap insurer over the past year.
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