DONEGAL GROUP REPORTS RESULTS
DONEGAL GROUP REPORTS RESULTS MARIETTA, Pa., March 3 /PRNewswire/ -- Donegal Group Inc.
(NASDAQ: DGIC) today reported record operating results for the year ended Dec. 31, 1991.
Net income for 1991 was $4,529,684, or $1.52 per share, and represents the highest annual earnings in the company's history for the third consecutive year. Excellent underwriting results have continued with a statutory combined ratio of 98.9 percent for 1991. Book value per share increased $1.40 for the year, standing at $10.81 as of Dec. 31, 1991. 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 Period ended Year Dec. 31, 1991 1990 Premiums earned $51,718,039 $46,710,648 Investment income, net of expense 5,759,462 5,479,006 Total revenues 58,469,044 52,297,949 Net income 4,529,684 4,417,159 Net income per share $1.52 $1.49 Period ended Three months Dec. 31, 1991 1990 Premiums earned $13,270,267 $12,113,059 Investment income, net of expense 1,454,842 1,385,062 Total revenues 14,912,567 13,138,372 Net income 836,136 753,882 Net income per share $.28 $.25 Book value per share at Dec. 31, 1991 $10.81 Dec. 31, 1990 $9.41 -0- 3/3/92 /CONTACT: Ralph Spontak, senior vice president and chief financial officer of Donegal Group, 717-426-1931/ (DGIC) CO: Donegal Group Inc. ST: Pennsylvania IN: INS SU: ERN SH -- NY018 -- 4327 03/03/92 08:54 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Mar 3, 1992|
|Previous Article:||SAMCOR GLASS LIMITED TO EXPAND PLANT IN INDIA FOR COLOR TV GLASS PRODUCTION|
|Next Article:||RAUCH INDUSTRIES ANNOUNCES YEAR END FINANCIAL RESULTS|