Donegal Group Inc. Announces Third Quarter and First Nine Months of 2019 Results

About this update from Donegal Group, Inc.

[{"type":"text","content":"MARIETTA, Pa., Oct. 30, 2019 (GLOBE NEWSWIRE) -- Donegal Group Inc. (NASDAQ:DGICA) and (NASDAQ:DGICB) today reported its financial results for the third quarter and first nine months of 2019.\n The Company will hold a conference call to discuss these results on Thursday, October 31, 2019 at 11:00AM Eastern Time. You may listen to the webcast of this conference call by accessing the event link at http://investors.donegalgroup.com. A replay of the conference call will also be available via the Company’s website. Significant financial highlights included: Net income of $5.2 million, or 18 cents per diluted Class A share, for the third quarter of 2019, compared to $1.2 million, or 4 cents per diluted Class A share, for the third quarter of 2018Net income of $33.0 million, or $1.17 per diluted Class A share, for the first nine months of 2019, compared to a net loss of $17.8 million, or 64 cents per Class A share, for the first nine months of 2018Net premiums earned of $189.8 million for the third quarter of 2019 increased 1.2% compared to the prior-year third quarterNet premiums written1 of $183.9 million for the third quarter of 2019 decreased 0.4% compared to the prior-year third quarterCombined ratio of 100.6% for the third quarter of 2019, compared to 105.2% for the prior-year third quarterBook value per share of $15.46 at September 30, 2019, compared to $14.05 at year-end 2018 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 % Change 2019 2018 % Change (dollars in thousands, except per share amounts) Income Statement Data Net premiums earned$ 189,821 $ 187,662 1.2% $ 566,658 $ 555,140 2.1%Investment income, net 7,390 6,620 11.6 21,728 19,341 12.3 Net investment (losses) gains (369) 3,464 NM 19,294 4,062 375.0 Total revenues 198,010 199,904 (0.9) 611,513 585,022 4.5 Net income (loss) 5,186 1,206 330.0 32,998 (17,762) NM Non-GAAP operating income (loss)1 5,708 (917) NM 16,561 (19,025) NM Per Share Data Net income (loss) – Class A (diluted)$ 0.18 $ 0.04 350.0% $ 1.17 $ (0.64) NM Net income (loss) – Class B 0.16 0.04 300.0 1.06 (0.59) NM Non-GAAP operating income (loss) – Class A (diluted) 0.20 (0.03) NM 0.59 (0.68) NM Non-GAAP operating income (loss) – Class B 0.18 (0.03) NM 0.53 (0.63) NM Book value 15.46 14.68 5.3 15.46 14.68 5.3% 1The “Definitions of Non-GAAP Financial Measures” section of this release ...

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