Donegal Q3 profit falls 9.6% on lower premiums
Donegal Group’s third-quarter net income fell nearly 10% year over year to $18.16 million, while net premiums earned declined 3%. Revenue was $237.66 million and the combined ratio was 96.50%.
1. Quarterly results
Donegal Group reported third-quarter net income of $18.16 million, down nearly 10% year over year. Net premiums earned fell 3%, while revenue was $237.66 million and the combined ratio was 96.50%.
2. Premium and claims factors
The company said soft market conditions impeded premium growth. Premium declines mainly reflected higher attrition from pricing discipline on renewals amid increased rate competition; underwriting results were also affected by increased weather-related losses and several severe workers’ compensation claims. Donegal aims for modest premium growth in 2027.
