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DONEGAL GROUP REPORTS RESULTS

 DONEGAL GROUP REPORTS RESULTS
 MARIETTA, Pa., July 28 /PRNewswire/ -- Donegal Group Inc.


(NASDAQ: DGIC) today reported record operating results for the six months and second quarter ended June 30, 1992.
 Net income for the six months ended June 30, 1992, was $2,531,137, an increase of $138,345 over income for the same period of 1991. Revenues increased $2,113,330 to $30,761,110 with realized investment gains of $601,564 for the first two quarters of 1992. The statutory combined ratio through June 30, 1992, was 100 percent. Net income for the second quarter ended June 30, 1992, was $1,139,982, a decrease of $61,994 from the same period in 1991.
 Book value per share increased $.39 for the quarter, standing at $11.64 as of June 30, 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
 Periods ended Six months
 June 30, 1992 1991
 Premiums earned $26,746,971 $25,338,335
 Investment income,
 net of expense 2,993,696 2,949,485
 Realized gains (loss) 601,564 (15,140)
 Total revenues 30,761,110 28,647,780
 Net income 2,531,137 2,392,792
 Net income per share
 Primary $.85 $.81
 Fully diluted $.82 $.81
 Book value per share
 at June 30, 1992 $11.64
 Periods ended Second quarter
 June 30, 1992 1991
 Premiums earned $13,599,512 $12,805,925
 Investment inc., net of expense 1,444,304 1,526,495
 Realized gains (loss) 334,539 (10,845)
 Total revenues 15,592,162 14,514,698
 Net income 1,139,982 1,201,976
 Net income per share
 Primary $.38 $.41
 Fully diluted $.37 $.41
 -0- 7/28/92
 /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 -- NY015 -- 3904 07/28/92 09:25 EDT
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Date:Jul 28, 1992
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