Donegal Group Inc. (NASDAQ:DGICA) Q3 2021 Earnings Conference Call October 28, 2021 11:00 AM ET Company Participants Jeff Miller - Executive Vice President and Chief Financial Officer Kevin Burke - President, Chief Executive Officer and Director Conference Call Participants Derek Han - KBW Bob Farnam - Boenning and Scattergood Doug Eden - ECM Capital Operator Good day and thank you for standing by. Welcome to the Donegal Group Inc. Third Quarter 2021 Earnings Conference Call. [Operator Instructions] Please ...

Table of Contents Title of Each Class Trading Symbols Name of Each Exchange on Which Registered Class A Common Stock, $.01 par value DGICA The NASDAQ Global Select Market Class B Common Stock, $.01 par value DGICB The NASDAQ Global Select Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SEC ...

Donegal Group Inc.(NASDAQ:DGICA) Q2 2021 Earnings Conference Call July 28, 2021 11:00 AM ET Company Participants Kevin Burke - President and Chief Executive Officer Jeffrey Miller - Chief Financial Officer Conference Call Participants James Inglis - Philo Smith & Co. Robert Farnam - Boenning and Scattergood Meyer Shields - KBW Douglas Eden - Eden Capital Management Operator Good day. Thank you for standing by. Welcome to the Donegal Group Inc. Second Quarter 2021 Earnings Conference Call. At this time, all ...

Table of Contents Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 0-15341 Donegal Group Inc. (Exact name of registrant as specified in its charter) Delaware 23- ...

Financial Data and Key Metrics Changes - The company reported net income of $10.5 million or $0.35 per diluted share for Q1 2021, compared to $3.7 million or $0.13 per diluted share in Q1 2020, indicating a significant improvement [8] - Net operating income was $8.6 million with a combined ratio of 98.5%, showing underwriting profitability despite severe weather conditions and higher-than-expected large fire losses [9][39] - Book value per share increased to $17.29 from $17.13 at the end of 2020, reflecting net income for the quarter, partially offset by unrealized losses in fixed maturity portfolio [23] Business Line Data and Key Metrics Changes - Net premiums written grew by 8.9% to $215.9 million, with commercial lines representing approximately 67% and personal lines 33% of the total [26] - Commercial lines grew by 18.7% to $144.4 million, driven by a 28.1% increase in commercial multi-peril [28] - Personal lines premiums declined by 6.7%, although this was a lower rate of decline compared to previous quarters, indicating improved retention and modest new business activity [30][17] Market Data and Key Metrics Changes - The company achieved market share gains and premium rate increases across all commercial lines, with expectations for further rate increases due to favorable market conditions [13] - The Mountain States Insurance Group is projected to generate approximately $48 million to $50 million in net premiums written in 2021, with 80% included in consolidated net premiums [12] Company Strategy and Development Direction - The company is focused on strategic modernization and operational improvements, including investments in technology and analytical capabilities [7][22] - There is a commitment to sound underwriting and pricing discipline, with a focus on independent agency distribution channels to drive growth [21][16] - The company plans to roll out new personal lines products in 11 states, aiming for modest growth in personal lines starting in 2022 [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about benefiting from economic recovery in regional markets as businesses insured recover from pandemic conditions [6] - The company is confident in its diversified product offerings and agency relationships to drive profitable growth in commercial lines [17][80] - Management noted that the core loss ratio increased due to bulk loss expense reserves not being allocated to fire losses, indicating a need for closer examination of reporting methodologies [108] Other Important Information - The company raised its quarterly cash dividend by 6.7% to $0.16 per share, reflecting confidence in financial performance [24] - A.M. Best affirmed the company's A excellent financial strength rating and revised the outlook from negative to stable, citing improved operating performance [43][44] Q&A Session Summary Question: How does the business correlate to GDP? - Management indicated that growth will vary by region, but overall economic recovery is expected to benefit the company [49][51] Question: What lines of business make up the Mountain States premium? - The Mountain States business includes commercial auto, umbrella liabilities, and workers' compensation, with a different mix compared to other regions [56] Question: What is the expected combined ratio for personal lines? - The expectation is to achieve combined ratios in the 95% range, with a focus on reducing the expense ratio [96] Question: Will Donegal Mutual consider buying back shares? - Management acknowledged the potential for Donegal Mutual to purchase shares but emphasized the importance of increasing interest from external shareholders [98]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | |----------------------------------------------------------------------------------------------------|------------------------------- ...

Donegal Group Inc. (NASDAQ:DGICA) Q4 2020 Earnings Conference Call February 24, 2021 11:00 AM ET Company Participants Jeff Miller – Chief Financial Officer Kevin Burke – President and Chief Executive Officer Conference Call Participants Bob Farnam – Boenning & Scattergood Doug Eden – Eden Capital Management James Bach – KBW Operator Ladies and gentlemen, thank you for standing by and welcome to the Donegal Group Incorporated Fourth Quarter 2020 Earnings Conference Call. [Operating Instructions] It's now my ...

Table of Contents Title of Each ClassTrading SymbolsName of Each Exchange on Which Registered Class A Common Stock, $.01 par value DGICA The NASDAQ Global Select Market Class B Common Stock, $.01 par value DGICB The NASDAQ Global Select Market Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRAN ...

Donegal Group, Inc. (NASDAQ:DGICA) Q3 2020 Earnings Conference Call October 29, 2020 11:00 AM ET Company Participants Jeff Miller - EVP & CFO Kevin Burke - President & CEO Conference Call Participants Sean Reitenbach - KBW Doug Eden - ECM Bob Farnam - Boenning & Scattergood Operator Ladies and gentlemen, thank you for standing by and welcome to the Donegal Group, Inc. Q3 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------|------------------------- ...