DONEGAL GROUP INC
For the period ended Dec 31, 2023. Filed Mar 6, 2024.
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FY2023 · Filed Mar 6, 2024
DGICB$27.35+6.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income and Comprehensive Income
Comprehensive Income (Loss)
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Statements of Income (Loss) | |||
| Revenues | |||
| Net premiums earned (includes affiliated reinsurance of $237,903,029, $232,105,306 and $212,591,341 - see note 3) | $882,071,386 | $822,489,450 | $776,015,201 |
| Investment income, net of investment expenses | 40,853,215 | 34,016,112 | 31,125,631 |
| Installment payment fees | 894,137 | 1,516,330 | 2,416,873 |
| Lease income | 346,439 | 383,451 | 430,800 |
| Net investment gains (losses) (includes ($2,242,190), ($979,972) and $382,602 accumulated other comprehensive income reclassification) | 3,172,807 | (10,184,797) | 6,477,286 |
| Total revenues | 927,337,984 | 848,220,546 | 816,465,791 |
| Expenses | |||
| Net losses and loss expenses (includes affiliated reinsurance of $150,198,479, $177,849,040 and $131,367,599 - see note 3) | 609,177,699 | 564,078,993 | 520,709,542 |
| Amortization of deferred policy acquisition costs | 154,214,000 | 142,430,000 | 128,733,000 |
| Other underwriting expenses | 151,747,579 | 137,923,739 | 129,367,893 |
| Policyholder dividends | 5,313,430 | 5,560,407 | 5,198,515 |
| Interest | 619,813 | 620,558 | 895,605 |
| Other, net | 1,201,987 | 1,244,948 | 1,222,728 |
| Total expenses | 922,274,508 | 851,858,645 | 786,127,283 |
| Income (loss) before income tax expense (benefit) | 5,063,476 | (3,638,099) | 30,338,508 |
| Income tax expense (benefit) (includes ($470,860), ($205,794) and $80,346 income tax (benefit) expense from reclassification items) | 637,972 | (1,678,694) | 5,084,334 |
| Net income (loss) | $4,425,504 | $(1,959,405) | $25,254,174 |
| Basic earnings (loss) per common share: | |||
| Class A common stock | $0.14 | $(0.06) | $0.83 |
| Class B common stock | $0.11 | $(0.07) | $0.74 |
| Diluted earnings (loss) per common share: | |||
| Class A common stock | $0.14 | $(0.06) | $0.83 |
| Class B common stock | $0.11 | $(0.07) | $0.74 |
| Statements of Comprehensive Income (Loss) | |||
| Net income (loss) | $4,425,504 | $(1,959,405) | $25,254,174 |
| Other comprehensive income (loss), net of tax | |||
| Unrealized gain (loss) on securities: | |||
| Unrealized holding gain (loss) arising during the period, net of income tax expense (benefit) of $1,285,390, ($12,164,443) and ($2,008,078) | 4,246,693 | (45,761,476) | (7,544,805) |
| Reclassification adjustment for losses (gains) included in net income (loss), net of income tax (benefit) expense of ($470,860), ($205,794) and $80,346 | 1,771,330 | 774,178 | (302,256) |
| Other comprehensive income (loss) | 6,018,023 | (44,987,298) | (7,847,061) |
| Comprehensive income (loss) | $10,443,527 | $(46,946,703) | $17,407,113 |
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Index
Consolidated Statements ofStockholders’ Equity
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