$DGICB

DONEGAL GROUP INC

CIK:0000800457|SEC Filings

Consolidated Statements of Income - USD ($)	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Net premiums earned	$ 222,574,233	$ 231,774,594	$ 443,931,675	$ 464,476,483
Investment income, net of investment expenses	14,490,823	12,540,362	28,777,888	24,523,936
Net investment gains	3,267,408	1,543,721	2,788,184	1,072,860
Lease income	74,095	76,281	148,313	153,108
Installment payment fees	712,494	844,315	1,469,227	1,726,510
Other income, net	0	368,744
Total revenues	241,119,053	247,148,017	477,115,287	491,952,897
Expenses:
Net losses and loss expenses	132,555,779	150,917,125	274,555,373	282,950,272
Amortization of deferred policy acquisition costs	36,123,000	39,501,000	72,420,000	78,732,000
Other underwriting expenses	43,562,039	35,149,888	85,576,531	76,344,882
Policyholder dividends	560,147	818,942	1,211,854	1,578,331
Interest	336,725	336,705	669,750	669,750
Other expenses, net	433,332	0	1,010,785	92,356
Total expenses	213,571,022	226,723,660	435,444,293	440,367,591
Income before income tax expense	27,548,031	20,424,357	41,670,994	51,585,306
Income tax expense	5,242,282	3,558,237	7,854,641	9,514,012
Net income	$ 22,305,749	$ 16,866,120	$ 33,816,353	$ 42,071,294
Class A Common Stock [Member]
Net income per share:
Basic (in Dollars per share)	$ 0.61	$ 0.47	$ 0.93	$ 1.19
Diluted (in Dollars per share)	0.6	0.46	0.91	1.17
Class B Common Stock [Member]
Net income per share:
Basic (in Dollars per share)	0.55	0.43	0.84	1.08
Diluted (in Dollars per share)	$ 0.55	$ 0.43	$ 0.84	$ 1.08

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net income	$ 33,816,353	$ 42,071,294
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other non-cash items	1,371,151	1,932,514
Net investment gains	(2,788,184)	(1,072,860)
Changes in assets and liabilities:
Losses and loss expenses	29,084,971	(3,975,352)
Unearned premiums	48,651,185	23,062,029
Premiums receivable	(37,015,225)	(17,778,303)
Deferred acquisition costs	(3,230,073)	(3,273,237)
Deferred income taxes	94,222	341,554
Reinsurance receivable	(14,536,433)	9,617,024
Prepaid reinsurance premiums	(26,881,261)	(6,633,206)
Accrued investment income	(511,775)	(231,469)
Due from affiliate	(1,994,246)	1,557,386
Reinsurance balances payable	(1,525,710)	(1,045,052)
Current income taxes	1,335,419	(6,399,981)
Accrued expenses	(138,318)	(183,779)
Other, net	341,261	(107,301)
Net adjustments	(7,743,016)	(4,190,033)
Net cash provided by operating activities	26,073,337	37,881,261
Cash Flows from Investing Activities:
Purchases of fixed maturities, held to maturity	(37,339,004)	(48,228,392)
Purchases of fixed maturities, available for sale	(110,149,362)	(93,483,260)
Purchases of equity securities	(1,421,238)	(2,512,570)
Maturity of fixed maturities:
Held to maturity	10,567,228	15,298,111
Available for sale	77,654,245	47,403,605
Sales of fixed maturities:
Available for sale	30,895,776	45,876,392
Sales of equity securities	976,059	2,145,314
Net sales (purchases) of property and equipment	325	(100)
Net sales (purchases) of short-term investments, available for sale	12,182,255	(205,257)
Net cash used in investing activities	(16,633,716)	(33,706,157)
Cash Flows from Financing Activities:
Cash dividends paid	(13,689,601)	(12,523,188)
Issuance of common stock	1,186,490	12,859,239
Net cash (used in) provided by financing activities	(12,503,111)	336,051
Net (decrease) increase in cash	(3,063,490)	4,511,155
Cash at beginning of period	26,785,845	52,925,931
Cash at end of period	23,722,355	57,437,086
Cash paid during period - Interest	684,551	677,151
Net cash paid during period - Taxes	$ 6,550,050	$ 15,547,439

Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Fixed maturities
Held to maturity, at amortized cost (fair value $754,765,403 and $731,659,323; net of allowance for expected credit losses of $1,306,225 and $1,312,903)	$ 803,294,965	$ 776,447,347
Available for sale, at fair value (amortized cost $650,458,942 and $650,370,011)	636,519,616	640,722,775
Equity securities, at fair value	48,879,905	44,370,358
Short-term investments, available for sale	26,530,086	38,712,341
Total investments	1,515,224,572	1,500,252,821
Cash	23,722,355	26,785,845
Accrued investment income	11,426,010	10,914,235
Premiums receivable	217,819,143	180,803,918
Reinsurance receivable (net of allowance for expected credit losses of $390,961 and $374,883)	413,118,569	398,582,136
Deferred policy acquisition costs	71,900,055	68,669,982
Deferred tax asset, net	14,075,860	13,287,301
Prepaid reinsurance premiums	197,964,480	171,083,219
Property and equipment, net	1,140,681	2,329,491
Federal income taxes recoverable	2,692,615	4,028,034
Due from affiliate	5,293,434	3,299,188
Goodwill	5,625,354	5,625,354
Other intangible assets	958,010	958,010
Other	1,124,719	9,918
Total assets	2,482,085,857	2,386,629,452
Liabilities
Losses and loss expenses	1,129,134,908	1,100,049,937
Unearned premiums	639,691,636	591,040,451
Accrued expenses	2,082,482	2,220,800
Reinsurance balances payable	1,958,420	3,484,130
Borrowings	35,000,000	35,000,000
Cash dividends declared to stockholders	0	6,647,482
Other	8,109,834	7,768,573
Total liabilities	1,815,977,280	1,746,211,373
Stockholders’ Equity
Preferred stock, $.01 par value, authorized 2,000,000 shares; none issued	0	0
Additional paid-in capital	394,280,322	391,811,397
Accumulated other comprehensive loss	(11,616,681)	(8,295,743)
Retained earnings	324,270,012	297,728,438
Treasury stock, at cost	(41,226,357)	(41,226,357)
Total stockholders’ equity	666,108,577	640,418,079
Total liabilities and stockholders’ equity	2,482,085,857	2,386,629,452
Class A Common Stock [Member]
Stockholders’ Equity
Common stock	344,789	343,852
Class B Common Stock [Member]
Stockholders’ Equity
Common stock	$ 56,492	$ 56,492