Donegal Mutual Insurance Co

Donegal Group Inc. (DGI) is an insurance holding company that, through its insurance subsidiaries and affiliates, provides property and casualty insurance across 21 Mid-Atlantic, Midwestern, Southern, and Southwestern states. DGI itself has no significant business operations and is distinct from its insurance subsidiaries. Its Class A common stock and Class B common stock trade on the NASDAQ Global Select Market under the symbols "DGICA" and "DGICB," respectively. Donegal Mutual Insurance Company (Donegal Mutual) organized DGI as an insurance holding company on August 26, 1986. As of December 31, 2025, Donegal Mutual held approximately 44% of DGI's outstanding Class A common stock and approximately 85% of its outstanding Class B common stock, giving Donegal Mutual approximately 70% of the combined voting power of DGI's outstanding shares. DGI's insurance subsidiaries and Donegal Mutual operate interdependently through an intercompany pooling agreement and other intercompany agreements. Together with Donegal Mutual and its insurance subsidiaries, DGI's insurance subsidiaries conduct business as the Donegal Insurance Group, a trade name for the affiliated insurance companies. As of December 31, 2025, DGI operated with three segments: its investment function, commercial lines of insurance, and personal lines of insurance. The commercial lines products offered by DGI's insurance subsidiaries primarily include commercial automobile, commercial multi-peril, and workers' compensation policies. The personal lines products primarily consist of homeowners and private passenger automobile policies.