Donegal Group Q1 net income surges to $25.2M; combined ratio improves to 91.6%

DONEGAL GROUP INC

Net income of $25.2M ($0.71/diluted Class A) vs $6.0M ($0.18) a year ago; ROE 17.8% vs 4.9%.
Combined ratio improved to 91.6% from 102.4%, driven by lower catastrophe losses and improved underwriting.
Net premiums earned up 2.2% to $232.7M; net investment income up 9.2% to $12.0M.
Book value per share increased 11.8% to $16.24 from $14.53 at March 31, 2024.
Net investment losses (after tax) of $0.4M, compared to net investment gains of $1.7M in Q1 2024.

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