A safety catch assembly design to prevent loss of drilling components during downhole operation is disclosed. The safety catch assembly can include a lower inner radial bearing comprising a catch ring retention zone. The safety catch assembly can also include one or more catch rings removably disposed in the catch ring retention zone, including a first catch ring having one or more ridges about its inner diameter and a second catch ring having one or more ridges about its inner diameter. In a locked position, the catch rings can retain the drilling components during a failure event.