Donegal Group Inc.—an insurance holding company whose insurance subsidiaries and affiliates offer personal and commercial property and casualty lines of insurance—announced that its 2021 consolidated financial results will begin to include the business Donegal Mutual Insurance Company and its subsidiaries generate in four Southwestern states.
The company and their subsidiaries have marketed commercial products in the Southwestern region as the Mountain States Insurance Group recently adn merger of Mountain States Mutual Casualty Company with and into Donegal Mutual. For the year ended December 31, 2020, Mountain States had net premiums written of approximately $48.5 million in the states of Colorado, New Mexico, Texas and Utah.
Kevin G. Burke, President and Chief Executive Officer of Donegal Group Inc., commented, “We are pleased with the transformation of Mountain States since Donegal Mutual’s acquisition of that business operation in 2017. Donegal Mutual provided significant resources and operational support over the past several years to fully integrate the Mountain States operations and return them to underwriting profitability. The inclusion of the Mountain States insurance business in the pooling agreement represents a continuation of the multi-faceted acquisition strategy Donegal Group Inc. has shared with Donegal Mutual over the past 30 years.”
For policies that starts from 1, 2021, Donegal Mutual will include the insurance business of Mountain States in its pooling agreement with Atlantic States Insurance Company, a subsidiary of Donegal Group. Pursuant to the pooling agreement, Atlantic States has about 80 percent share of the results of the pooled business. As a result, the companies consolidated financial results will include about 80 percent of the net underwriting results of Mountain States.
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