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DONEGAL GROUP REPORTS RESULTS

 MARIETTA, Pa., Aug. 5 /PRNewswire/ -- Donegal Group Inc. (NASDAQ: DGIC) today reported record operating results for the six months ended June 30, 1993.
 Net income for the six months was $3,503,668, or $1.15 per share. Revenues increased 24 percent to $38,230,424 with premiums earned increasing 27 percent over the same period in 1992. A 17 percent increase in direct premiums written by the combined pool of Atlantic States Insurance Company (Atlantic) and Donegal Mutual Insurance Company and a 20 percent increase in Atlantic's shares of the pooled business accounted for the change. The pooling change, effective Jan. 1, 1993, increased Atlantic's participation in the pool from 50 percent to 60 percent. Atlantic is Donegal Group Inc.'s primary subsidiary and accounts for 90 percent of the premiums earned by the company.
 Operating results for the first six months were strong despite claims of approximately $825,000 arising from March storms that impacted the company's operating area, including the large "blizzard" that hit the East Coast. The company's combined ratio for the first six months of 1993 was 97.3 percent compared with 100.0 percent in 1992.
 Donegal Group Inc. is a regional property-casualty insurance holding company doing business in Pennsylvania, Virginia, Maryland and Delaware through its wholly owned subsidiaries, Atlantic States Insurance Company and Southern Insurance Company of Virginia.
 DONEGAL GROUP INC.
 SELECTED FINANCIAL INFORMATION
 Six Months Ended
 June 30, June 30,
 1993 1992
 Premiums earned $33,965,155 $26,746,971
 Investment income,
 net of expense 3,202,748 2,993,696
 Realized gains 596,902 601,564
 Total revenues 38,230,424 30,761,110
 Net income 3,503,668 2,531,137
 Net income per share 1.15 .85
 Book value per share
 at June 30, 1993 $12.99 $11.59
 Second Quarter Ended
 June 30, June 30,
 1993 1992
 Premiums earned $17,185,334 $13,599,512
 Investment income,
 net of expense 1,638,087 1,444,304
 Realized gains 588,199 334,547
 Total revenues 19,648,029 15,592,170
 Net income 1,945,389 1,139,982
 Net income per share .64 .38
 -0- 8/5/93
 /CONTACT: Ralph Spontak, senior vice president and CFO of Donegal Group Inc., 717-426-1931/
 (DGIC)


CO: Donegal Group Inc. ST: Pennsylvania IN: INS SU: ERN

SH -- NY027 -- 9766 08/05/93 09:53 EDT
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Publication:PR Newswire
Date:Aug 5, 1993
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