Donegal Team Inc. Announces Inclusion of Mountain States Insurance plan Organization in Donegal …

MARIETTA, Pa., Jan. 15, 2021 (World NEWSWIRE) — Donegal Team Inc. (NASDAQ:DGICA) and (NASDAQ:DGICB) right now introduced that its 2021 consolidated fiscal results will start off to incorporate the organization Donegal Mutual Insurance policy Firm (“Donegal Mutual”) and its subsidiaries create in four Southwestern states. Donegal Mutual and its subsidiaries have marketed business solutions in the Southwestern area as the Mountain States Insurance plan Team (“Mountain States”) since the May well 2017 merger of Mountain States Mutual Casualty Company with and into Donegal Mutual. For the calendar year ended December 31, 2020, Mountain States experienced net rates created of close to $48.5 million in the states of Colorado, New Mexico, Texas and Utah.

Kevin G. Burke, President and Chief Government Officer of Donegal Group Inc., commented, “We are delighted with the transformation of Mountain States due to the fact Donegal Mutual’s acquisition of that small business procedure in 2017. Donegal Mutual provided substantial means and operational aid about the earlier various decades to totally integrate the Mountain States operations and return them to underwriting profitability. The inclusion of the Mountain States insurance enterprise in the pooling arrangement signifies a continuation of the multi-faceted acquisition system Donegal Team Inc. has shared with Donegal Mutual around the past 30 yrs.”

For policies productive January 1, 2021 and thereafter, Donegal Mutual will include the insurance business enterprise of Mountain States in its pooling agreement with Atlantic States Insurance plan Organization (“Atlantic States”), an insurance policies subsidiary of Donegal Team Inc. Pursuant to the pooling settlement, Atlantic States has an 80% share of the outcomes of the pooled small business. Thus, Donegal Team Inc.’s consolidated economic final results will consist of 80% of the web underwriting success of Mountain States for policies effective in 2021 and subsequently.

About the Organization

Donegal Group Inc. is an insurance plan keeping business whose insurance subsidiaries and affiliate marketers offer you private and professional property and casualty strains of insurance coverage in 24 Mid-Atlantic, Midwestern, New England, Southern and Southwestern states. Donegal Mutual Insurance coverage Organization and the insurance policy subsidiaries of Donegal Team Inc. carry out business enterprise with each other as the Donegal Insurance Team. The Donegal Coverage Team has an A.M. Best rating of A (Outstanding).

The Course A popular inventory and Class B widespread inventory of Donegal Group Inc. trade on the NASDAQ Global Decide on Marketplace beneath the symbols DGICA and DGICB, respectively. We are concentrated on a number of principal approaches, together with achieving sustained exceptional fiscal performance, strategically modernizing our functions and processes to remodel our business enterprise, capitalizing on prospects to increase profitably and providing a outstanding knowledge to our brokers and clients.

Secure Harbor

We base all statements contained in this launch that are not historic specifics on our latest anticipations. These statements are ahead-looking in nature (as described in the Private Securities Litigation Reform Act of 1995) and require a quantity of risks and uncertainties. Genuine outcomes could change materially. Elements that could bring about real results to change materially include: our capacity to attract new business enterprise, keep present business enterprise and collect balances owing to us as a outcome of the extended financial troubles resulting from the COVID-19 pandemic, adverse and catastrophic weather activities, our potential to retain worthwhile functions, the adequacy of the reduction and loss price reserves of our insurance policies subsidiaries, small business and economic situations in the regions in which our insurance plan subsidiaries work, desire rates, level of competition from various insurance plan and other monetary organizations, terrorism, the availability and price of reinsurance, authorized and judicial developments such as these linked to COVID-19 organization interruption coverage and exclusions, variations in regulatory necessities and other threats we describe in the periodic reviews we file with the Securities and Exchange Commission. You ought to not put undue reliance on any this sort of forward-on the lookout statements. We disclaim any obligation to update these types of statements or to announce publicly the final results of any revisions that we may perhaps make to any ahead-wanting statements to reflect the incidence of expected or unanticipated occasions or situations soon after the day of these types of statements.

For Additional Data:

Jeffrey D. Miller, Govt Vice President & Main Financial Officer
Cellphone: (717) 426-1931
E-mail: [email protected]

Adam Prior, Senior Vice President, The Equity Group Inc.
Phone: (212) 836-9606
E-mail: [email protected]