Boston-based Safety Insurance Group reported recently that the board of directors has increased Safety’s existing share repurchase program by authorizing repurchase of up to $60 million of its outstanding common shares.

On Aug. 3, 2007, the board of directors approved repurchase of up to $30 million of common shares. Under the program, Safety may repurchase shares of its common stock for cash in public or private transactions, in the open market or otherwise, at management’s discretion.

The timing of such repurchases and actual number of shares repurchased will depend on a variety of factors including price, market conditions, and applicable regulatory and corporate requirements, the company said.

The program does not require Safety to repurchase any specific number of shares and may be modified, suspended or terminated at any time without prior notice. Under the program Safety has previously repurchased approximately $18.6 million of its common shares.