DONEGAL GROUP INC
For the period ended Dec 31, 2023. Filed Mar 6, 2024.
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FY2023 · Filed Mar 6, 2024
DGICB$25.74-5.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Assets | ||
| Investments | ||
| Fixed maturities | ||
| Held to maturity, at amortized cost (fair value $611,526,338 and $598,044,681 ; net of allowance for expected credit losses of $1,325,847 and $0) | $679,497,038 | $688,439,360 |
| Available for sale, at fair value (amortized cost $629,727,513 and $571,912,727) | 589,348,243 | 523,791,931 |
| Equity securities, at fair value | 25,902,956 | 35,104,840 |
| Short-term investments, at cost, which approximates fair value | 32,305,408 | 57,321,111 |
| Total investments | 1,327,053,645 | 1,304,657,242 |
| Cash | 23,792,273 | 25,123,332 |
| Accrued investment income | 9,945,714 | 8,861,292 |
| Premiums receivable | 179,591,821 | 173,846,294 |
| Reinsurance receivable (net of allowance for expected credit losses of $1,394,074 and $0) | 441,431,334 | 456,522,223 |
| Deferred policy acquisition costs | 75,043,404 | 73,170,230 |
| Deferred tax asset, net | 19,532,525 | 21,603,017 |
| Prepaid reinsurance premiums | 168,724,465 | 160,591,399 |
| Property and equipment, net | 2,633,405 | 2,755,105 |
| Accounts receivable - securities | 1,501,079 | 1,842 |
| Federal income taxes recoverable | 8,102,321 | 8,510,897 |
| Due from affiliate | 1,907,527 | — |
| Goodwill | 5,625,354 | 5,625,354 |
| Other intangible assets | 958,010 | 958,010 |
| Other | 451,011 | 1,123,098 |
| Total assets | $2,266,293,888 | $2,243,349,335 |
| Liabilities and Stockholders’ Equity | ||
| Liabilities | ||
| Losses and loss expenses | $1,126,156,838 | $1,121,045,758 |
| Unearned premiums | 599,411,468 | 577,653,130 |
| Accrued expenses | 3,946,974 | 4,226,390 |
| Reinsurance balances payable | 8,758,976 | 3,495,824 |
| Borrowings under lines of credit | 35,000,000 | 35,000,000 |
| Cash dividends declared to stockholders | 5,569,992 | 5,296,990 |
| Due to affiliate | — | 5,173,289 |
| Other | 7,704,286 | 7,864,942 |
| Total liabilities | 1,786,548,534 | 1,759,756,323 |
| Stockholders’ Equity | ||
| Preferred stock, $0.01 par value, authorized 2,000,000 shares; none issued | — | — |
| Class A common stock, $0.01 par value, authorized 50,000,000 shares, issued 30,764,555 and 30,120,263 shares and outstanding 27,761,967 and 27,117,675 shares | 307,646 | 301,203 |
| Class B common stock, $0.01 par value, authorized 10,000,000 shares, issued 5,649,240 shares and outstanding 5,576,775 shares | 56,492 | 56,492 |
| Additional paid-in capital | 335,694,478 | 325,601,647 |
| Accumulated other comprehensive loss | (32,881,822) | (41,703,747) |
| Retained earnings | 217,794,917 | 240,563,774 |
| Treasury stock, at cost | (41,226,357) | (41,226,357) |
| Total stockholders’ equity | 479,745,354 | 483,593,012 |
| Total liabilities and stockholders’ equity | $2,266,293,888 | $2,243,349,335 |
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Index
Consolidated Statements of Income (Loss) and
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