Reinsurance News
Donegal Group
Donegal Group reports Q3 $10.4mn net loss
27th October 2022
US primary holding company Donegal Group has reported a net loss of $10.4 million in the third quarter of 2022, compared to a net loss of $6.7 million from the same period last year. Net premiums earned for the quarter increased by 5% to $206.1 million, compared to $196.2 million from ... Read the full article
Donegal Group reports Q2 $8.2mn net loss
28th July 2022
US primary holding company Donegal Group posted a net loss of $8.2 million, compared to a net income of $16.2 million in the prior year quarter. Net premiums earned increased 6.0% to $204.1 million, compared to $192.4 million from Q2 21. At the same time, net premiums written were $218.4 million, a ... Read the full article
Donegal Insurance hires Hudnall as SVP of Commercial Lines
19th April 2022
The Donegal Insurance Group has announced the appointment of Matthew Hudnall as Senior Vice President (SVP) of the group's Commercial Lines business. In his new role as SVP of commercial lines, Hudnall will play a key role in developing and executing the strategy for Donegal’s Commercial Lines business, driving underwriting quality ... Read the full article
Donegal Group reports increase in net profit for Q1
27th April 2021
Donegal Group has reported its financial results for Q1 2021, showing an increase of net income which came to $10.5 million compared to $3.7 million for the prior year period. For Q1 it reported a combined ratio of 98.5% compared to last year’s 97.0% showing a slight deterioration, although still profitable. The ... Read the full article
Donegal Insurance names WTW’s Jeffery Hay as SVP and CUO
19th January 2021
The Donegal Insurance Group has named Jeffery Hay, previously of re/insurance broker Willis Towers Watson (WTW), as Senior Vice President (SVP) and Chief Underwriting Officer (CUO). Hay is expected to play a vital underwriting oversight role at the company as it looks to expand its capabilities to maximise the value it ... Read the full article
Donegal improves Q3 income to $11.8mn
29th October 2020
US primary holding company Donegal Group has posted a net income of $11.8 million for the third quarter of 2020, driven by better underwriting performance and investment gains. The result represented a 128.2% increase from the $5.2 million that Donegal reported for the same period last year. President and CEO Kevin Burke ... Read the full article
Donegal posts robust Q2 results as net income hits $22.7mn
28th July 2020
US primary holding company Donegal Group posted a net income of $22.7 million for the second quarter of 2020, compared to $4.8 million in the prior year quarter. Kevin G. Burke, President and Chief Executive Officer of Donegal Group, attributed this improvement to a continuation of the solid underwriting performance reported ... Read the full article
Donegal announces $19.3mn net income dip in Q1
29th April 2020
US primary holding company Donegal Group has announced a net income of $3.7 million for the first quarter of 2020, compared to $23.0 million in the prior year quarter. Net investment losses stand at $10.7 million for the quarter, compared to net investment gains of $18.1 million for the prior year ... Read the full article
Donegal targets simplified structure, consolidates insurance subsidiaries
18th November 2019
U.S primary holding company Donegal Group Inc. has revealed that in an effort to simplify its organisational structure and lower administrative costs, it's planning to consolidate a number of its wholly-owned subsidiaries, effective December 1st, 2019. Specifically, Donegal Group has announced that its Iowa-based property and casualty (P&C) insurer, Le Mars ... Read the full article
Donegal to expand adoption of Guidewire services
19th March 2019
Donegal Insurance Group has selected Guidewire Software’s Insurance Platform Core and Data products to replace legacy systems, in a move designed to modernise the way it does business. Donegal says it will implement the products for all of its lines of business, beginning with workers’ compensation, followed by its other commercial ... Read the full article
A.M. Best revises Donegal Group’s outlook to negative
14th March 2019
A.M. Best has revised the outlooks of Donegal Insurance Group and its members from stable to negative due to a decline in Donegal Group’s operating performance in 2017 and 2018. At the same time, the rating agency affirmed the insurer’s Financial Strength Rating of A (Excellent) and its Long-Term Issuer Credit ... Read the full article
Donegal restructures reinsurance program after heavy Q4 losses
8th February 2019
U.S primary holding company Donegal Group Inc. has restructured its reinsurance program following heavy losses in the fourth quarter of 2018 due to natural catastrophes, low investment returns, and underperformance in its personal and commercial auto lines. Donegal’s 2019 reinsurance program, which applies to its insurance subsidiaries and Donegal Mutual Insurance ... Read the full article
Weather & fire losses expected to push Donegal Group to net loss in Q2
18th July 2017
Increased weather-related and large fire losses during the first six months of 2017, combined with reserving activity, is expected to push Donegal Group Inc. to report a net loss during the second-quarter of 2017. A statement from the company claims that weather-related losses added roughly $20.1 million to its losses for ... Read the full article
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