Donegal Group Q3 net income up 20% to $20.1M; book value rises to $17.14

DONEGAL GROUP INC

Net premiums earned $229.8M, down 3.4% YoY; combined ratio improved to 95.9% from 96.4%.
Net income $20.1M ($0.55 diluted Class A EPS) vs $16.8M ($0.51) a year ago.
Non-GAAP operating income $19.1M ($0.52 diluted Class A) up 24.9% YoY.
Net investment income rose 28.8% to $13.9M; book value per share $17.14 (+12.6% YoY).

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