Donegal Q2 net income $2.0M vs year-ago loss; premiums up 5.9%

DONEGAL GROUP INC

Net income of $2.0M ($0.06 diluted Class A) vs net loss of $8.2M in Q2 2022.
Net premiums earned rose 5.9% to $216.3M; combined ratio improved to 104.7% from 105.0%.
Net investment gains of $2.0M after tax reversed prior-year $6.6M after-tax losses.
Book value per share fell to $14.68 from $15.87 year-over-year.
Non-GAAP operating income was $19K, an improvement from prior-year operating loss of $1.6M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.8

DONEGAL GROUP INC reported financial results for the first half of 2023.

Period: the first half of 2023
Result: reported results

Exact text from the filing

Donegal Group Inc. (NASDAQ: DGICA) and (NASDAQ: DGICB) today reported its financial results for the second quarter and first half of 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

DONEGAL GROUP INC reported the second quarter ended June 30, 2023 results: revenue $216.3 million, net income $2.0 million, EPS 6 cents per diluted Class A share.

Period: the second quarter ended June 30, 2023
Revenue: $216.3 million
Net income: $2.0 million
EPS: 6 cents per diluted Class A share
Result: reported results

Exact text from the filing

Net income of $2.0 million, or 6 cents per diluted Class A share, compared to net loss of $8.2 million, or 26 cents per Class A share Net premiums earned increased 5.9% to $216.3 million

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DONEGAL GROUP INC filing history →

Source: SEC EDGAR

accession 0001171843-23-004702

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