Donegal Group Inc Stock Price, News & Analysis

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and Long-Term Issuer Credit Ratings (ICR) of 'a' (Excellent) for Donegal Insurance Group members. The Long-Term ICR for Donegal Group Inc. is also affirmed at 'bbb' (Good), with a stable outlook. Key factors include a strong balance sheet, solid liquidity, and improved operating performance from 2019-2021. The group maintains an adequate operating performance but lags industry averages in the five-year combined ratio. AM Best recognizes Donegal's effective risk management and strategic growth through acquisitions.

Donegal Group reported its Q4 and full-year 2021 financial results, showing a 7.8% increase in net premiums earned to $200 million, yet faced a combined ratio of 101.6%. Q4 net income dropped 63.8% to $5.3 million, down from $14.6 million a year prior. Full-year net income also fell 52.2% to $25.3 million. Despite favorable reserve developments, underwriting results were affected by increased auto claim frequency and large fire losses. The company aims to prioritize profitability over growth in 2022 amidst rising inflation and economic challenges.

Donegal Group plans to release its financial results for the fourth quarter and full year ended December 31, 2021, on February 17, 2022. This announcement will occur after the NASDAQ market closes. A conference call and webcast will follow on February 18, 2022, at 11:00 AM ET to discuss the results. Donegal operates as an insurance holding company, providing personal and commercial property and casualty insurance across 24 states. The company maintains an A.M. Best rating of A (Excellent) and trades under stock symbols DGICA and DGICB.

Donegal Group Inc. (NASDAQ:DGICA, DGICB) has declared a regular quarterly cash dividend of $0.16 per share for Class A common stock and $0.1425 for Class B common stock. The dividends are set to be paid on February 15, 2022, to stockholders of record by February 1, 2022. The company's insurance subsidiaries operate as the Donegal Insurance Group, boasting an A.M. Best rating of A (Excellent), and focus on sustained financial performance and operational modernization.

Donegal Group reported a net loss of $6.7 million for Q3 2021, contrasting sharply with a net income of $11.8 million in Q3 2020. Despite this, net premiums earned rose by 6.1% to $196.2 million.

The company faced challenges with a combined ratio of 107.7%, largely driven by weather-related losses and fire claims. Investment losses totaled $1.2 million, impacting overall profitability. However, book value per share increased to $17.21 from $16.96 year-over-year, demonstrating some stability amidst the losses.

Donegal Group announced a quarterly cash dividend of $0.16 per share for Class A common stock and $0.1425 for Class B common stock. The dividends are payable on November 15, 2021, to stockholders on record as of November 1, 2021. The company, operating in 24 states, maintains an A.M. Best rating of A (Excellent) for its insurance subsidiaries. Donegal is focused on exceptional financial performance, operational modernization, and profitable growth, alongside delivering superior service to agents and customers.

Donegal Group Inc. (NASDAQ:DGICA, DGICB) has announced a live conference call and webcast scheduled for October 28, 2021, at 11:00 AM Eastern Time, to discuss its third-quarter results for the period ending September 30, 2021. The company will release its financial results on October 27, 2021, after market close. Known for offering personal and commercial property and casualty insurance across 24 states, Donegal Group aims for sustained financial performance and operational modernization. The Donegal Insurance Group holds an A.M. Best rating of A (Excellent).

Donegal Group reported its Q2 2021 results with a net income of $16.2 million, a 28.7% decline compared to Q2 2020. Net premiums earned rose 4.4% to $192.5 million, while net premiums written increased by 8.2% to $209.6 million. The combined ratio also worsened to 96.1% from 92.3%. Earnings per diluted Class A share was 53 cents, down from 79 cents. Although the company experienced growth in commercial lines premiums of 19.9%, personal lines saw a decline of 6.4%. Book value per share improved to $17.64, a 5.2% increase year-over-year.

Donegal Group declared a quarterly cash dividend of $0.16 per share for Class A common stock and $0.1425 per share for Class B common stock. These dividends are set to be paid on August 16, 2021, to shareholders of record by the close of business on August 2, 2021. Operating in 24 states, Donegal Group's insurance subsidiaries are rated A (Excellent) by A.M. Best. The company is focused on achieving sustained financial performance, modernizing operations, and enhancing the customer experience.