LONDON (Thomson Financial) - Donegal Group Inc. said Wednesday its first
quarter net income rose to $6.7 million, or 27 cents per Class A share, from
$5.5 million, or 22 cents per Class A share, in the same quarter a year ago.
The insurance company said revenue for the three-month period rose 7.3% to
$89.8 million.
The mean estimate of analysts polled by Thomson Financial was for earnings
of 32 cents a share on revenue of $86 million.
Donegal said its improved performance was mainly due to increased net
premiums earned and an increase in net realized investment gains, which were
partially offset by higher losses and loss expenses from claims filed due to
more extreme winter weather in the regions where it operates.
Mark.cotton@thomson.com
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