Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Donegal Q4 earnings decline

Donegal reported a net income for Q4 08 of $6.39m compared to $10.8m for Q4 07

Donegal Group, a property and casualty insurance holding company, has reported that its net income for the fourth quarter ended December 31, 2008 was $6.39 million, or $0.26 per share of class A common stock on a diluted basis, compared to $10.8 million, or $0.43 per share of class A common stock on a diluted basis, for the fourth quarter of 2007.

Revenues for the fourth quarter of 2008 were $95.84 million, an increase of 10.3% over $86.89 million for the fourth quarter of 2007. Net premiums earned were $89.07 million, a 13.9% increase over $78.19 million for the fourth quarter of 2007.

Net income for the year ended December 31, 2008 was $25.54 million, or $1.02 per share of class A common stock on a diluted basis, compared to $38.28 million, or $1.53 per share of class A common stock on a diluted basis, for the year ended December 31, 2007.

For the year, total revenues were $372.31 million, as compared to $340.62 million for the year 2007. Net premiums earned for the year 2008 increased to $346.58 million from $310.07 million for the year 2007.