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A.M. Best Affirms Credit Ratings of Members of Donegal Insurance Group and Donegal Group Inc.

A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a" of the members of the Donegal Insurance Group (Donegal Group). Concurrently, A.M. Best has affirmed the Long-Term ICR of "bbb" of the publicly traded holding company, Donegal Group Inc. (Delaware) (NASDAQ: DGICA and DGICB). The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the member companies.)

The ratings reflect Donegal Group's balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

Donegal Group's capital assessment reflects its Best's Capital Adequacy Ratio (BCAR), which A.M. Best categorizes as strongest, and sound liquidity position, which are offset partially by increasing underwriting leverage and modestly adverse loss reserve development in recent years. Although the individual members within the Donegal Group play a specific role in the organization's overall business plan and their operating performances may vary, each contributes favorably to the group's risk-adjusted capitalization. In addition, each member supports the corporate business strategy and benefits from shared senior management, intercompany reinsurance and the added financial flexibility of Donegal Group Inc. to raise capital through debt or equity offerings during favorable investment markets.

Source: A.M. Best Ratings Services, Inc. Used under license.