Company Quick10K Filing
Donegal Group
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 -0 $-0
10-Q 2019-11-08 Quarter: 2019-09-30
10-Q 2019-08-08 Quarter: 2019-06-30
10-Q 2019-05-07 Quarter: 2019-03-31
10-K 2019-03-14 Annual: 2018-12-31
10-Q 2018-11-09 Quarter: 2018-09-30
10-Q 2018-08-08 Quarter: 2018-06-30
10-Q 2018-05-07 Quarter: 2018-03-31
10-K 2018-03-09 Annual: 2017-12-31
10-Q 2017-11-07 Quarter: 2017-09-30
10-Q 2017-08-08 Quarter: 2017-06-30
10-Q 2017-05-08 Quarter: 2017-03-31
10-K 2017-03-10 Annual: 2016-12-31
10-Q 2016-11-07 Quarter: 2016-09-30
10-Q 2016-08-08 Quarter: 2016-06-30
10-Q 2016-05-05 Quarter: 2016-03-31
10-K 2016-03-18 Annual: 2015-12-31
10-Q 2015-11-06 Quarter: 2015-09-30
10-Q 2015-08-07 Quarter: 2015-06-30
10-Q 2015-05-11 Quarter: 2015-03-31
10-K 2015-03-12 Annual: 2014-12-31
10-Q 2014-11-06 Quarter: 2014-09-30
10-Q 2014-08-07 Quarter: 2014-06-30
10-Q 2014-05-08 Quarter: 2014-03-31
10-K 2014-03-14 Annual: 2013-12-31
10-Q 2013-11-07 Quarter: 2013-09-30
10-Q 2013-08-08 Quarter: 2013-06-30
10-Q 2013-05-08 Quarter: 2013-03-31
10-K 2013-03-12 Annual: 2012-12-31
10-Q 2012-11-07 Quarter: 2012-09-30
10-Q 2012-05-07 Quarter: 2012-03-31
10-K 2012-03-12 Annual: 2011-12-31
10-Q 2011-11-04 Quarter: 2011-09-30
10-Q 2011-08-09 Quarter: 2011-06-30
10-Q 2011-05-05 Quarter: 2011-03-31
10-K 2011-03-14 Annual: 2010-12-31
10-Q 2010-11-09 Quarter: 2010-09-30
10-Q 2010-08-09 Quarter: 2010-06-30
10-Q 2010-05-07 Quarter: 2010-03-31
10-K 2010-03-11 Annual: 2009-12-31
8-K 2019-12-19 Officers
8-K 2019-12-19 Regulation FD, Exhibits
8-K 2019-11-15 Other Events, Exhibits
8-K 2019-10-30 Earnings, Exhibits
8-K 2019-10-17
8-K 2019-07-29 Earnings, Exhibits
8-K 2019-07-18 Regulation FD, Exhibits
8-K 2019-04-29 Earnings, Exhibits
8-K 2019-04-18 Enter Agreement, Amend Bylaw, Shareholder Vote, Exhibits
8-K 2019-04-18 Regulation FD, Exhibits
8-K 2019-03-08 Regulation FD, Exhibits
8-K 2019-02-19 Earnings, Exhibits
8-K 2019-02-08 Earnings, Exhibits
8-K 2018-12-20 Regulation FD, Exhibits
8-K 2018-10-30 Earnings, Exhibits
8-K 2018-10-18 Regulation FD, Exhibits
8-K 2018-07-30 Earnings, Exhibits
8-K 2018-07-19 Regulation FD, Exhibits
8-K 2018-06-11 Other Events, Exhibits
8-K 2018-06-04 Officers, Exhibits
8-K 2018-04-23 Earnings, Exhibits
8-K 2018-04-19 Regulation FD, Exhibits
8-K 2018-04-19 Shareholder Vote
8-K 2018-04-03 Exit Costs, Exhibits
8-K 2018-02-23 Earnings, Exhibits

Donegal Group Financials

DGICA Metrics, Comps, Filings

Annual | Quarterly

Business

Donegal Mutual Insurance Company, or Donegal Mutual, organized us as an insurance holding company on August 26, 1986. At December 31, 2018, Donegal Mutual held approximately 43% of our outstanding Class A common stock and approximately 84% of our outstanding Class B common stock. Donegal Mutual's ownership provides Donegal Mutual with approximately 72% of the combined voting power of our outstanding shares of Class A common stock and our outstanding shares of Class B common stock. Our insurance subsidiaries and Donegal Mutual have interrelated operations due to an intercompany pooling agreement and other intercompany agreements and transactions we describe in Note 3 of the Notes to Consolidated Financial Statements. While maintaining the separate corporate existence of each company, our insurance subsidiaries and Donegal Mutual conduct business together as the Donegal Insurance Group. As such, Donegal Mutual and our insurance subsidiaries share the same business philosophy, the same management, the same employees and the same facilities and offer the same types of insurance products.

At December 31, 2018, we had four segments: our investment function, our personal lines of insurance, our commercial lines of insurance and our investment in Donegal Financial Services Corporation, or DFSC. We set forth financial information about these segments in Note 19 of the Notes to Consolidated Financial Statements. The personal lines products of our insurance subsidiaries consist primarily of homeowners and private passenger automobile policies. The commercial lines products of our insurance subsidiaries consist primarily of commercial automobile, commercial multi-peril and workers' compensation policies.

Our insurance subsidiaries and Donegal Mutual provide their policyholders with a selection of insurance products at competitive rates, while pursuing profitability by adhering to a strict underwriting discipline. Our insurance subsidiaries derive a substantial portion of their insurance business from smaller to mid-sized regional communities. We believe this focus provides our insurance subsidiaries with competitive advantages in terms of local market knowledge, marketing, underwriting, claims servicing and policyholder service. At the same time, we believe our insurance subsidiaries have cost advantages over many smaller regional insurers that result from economies of scale our insurance subsidiaries realize through centralized accounting, administrative, data processing, investment and other services.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Stockholders' Equity

Income Statement ($BB Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($BB Annual)

Operating, Investing, Financing

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Greenlight Capital (GLRE) 309 0% 2.6 -10% 1,456 955 394 0 -149 -141 -360
Protective Insurance (PTVCA) 296 0% -9.1 -2% 1,571 1,204 467 0 -33 -22 199
Hallmark Financial Services (HALL) 256 0% 3.4 2% 1,406 1,116 427 0 33 54 185
Fednat Holding (FNHC) 178 0% 8.5 0% 996 765 414 0 2 17 144
Atlas Financial Holdings (AFH) 121 0% -2.6 -7% 501 399 229 0 -38 -28 72
Kingstone Companies (KINS) 92 0% 238.3 -1% 289 202 128 0 -4 0 102
Kingsway Financial Services (KFS) 62 0% -9.5 -3% 472 439 121 0 -15 -28 268
Blue Capital Reinsurance (BCRH) 60 0% -2.0 -21% 140 49 32 0 -29 -29 57
Maiden Holdings (MHLD) 52 0% 0.2 -14% 4,599 4,008 1,465 0 -621 -629 -149
ICC Holdings (ICCH) 48 0% 29.7 1% 163 101 55 0 1 1 42
Conifer Holdings (CNFR) 36 0% -5.5 -5% 243 197 96 0 -12 -9 50
1347 Property Insurance (PIH) 34 0% -0.1 -3% 179 119 48 0 -6 -6 1
Unico American (UNAM) 32 0% -35.6 -1% 126 70 32 0 -1 -1 27
Oxbridge RE Holdings (OXBR) 6 0% 0.3 -62% 10 2 3 0 -6 -6 -2
Allstate Life Insurance (ALL) 2 0% -0.2 1% 41,144 33,695 2,958 0 462 512 -78
Talcott Resolution Life Insurance (HIG) 0 0% -0.2 0% 156,296 153,907 1,493 0 441 471 -104
Maiden Holdings (MHLA)
Palomar Holdings (PLMR)
Donegal Group (DGICA) 0% -0.8 2% 1,901 1,463 815 0 36 46 -36
Tiptree (TIPT) 0% 2.0 1% 1,920 1,513 700 0 17 57 112

Balance Sheet ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash13122123853
Accounts Receivable2100
Inventory
PP&E612011075
Assets1,2914734614764965141,7381,832
Accounts Payable
Long-Term Debt
Liabilities90773646088751,2891,433
Stockholders' Equity383400397416408439449399
Income Statement ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue475121614615739772
Cost of Revenue
Gross Profit
R&D
SG&A
Tax-70-13775-15
Net Income023261521317-33
Cash Flow ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating2154645-2138164
Cash Investing-3191-2-2-2-58-38
Cash Financing7-14-10-73-9-9-11