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DGICB - Donegal Inc News Story

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Last Trade - 15/04/21

Small Cap
Market Cap £327.3m
Enterprise Value £317.8m
Revenue £562.4m
Position in Universe 3625th / 6850

Donegal Insurance Group Announces Appointment of Jeffery T. Hay as SVP and Chief Underwriting Officer

Tue 19th January, 2021 2:00pm
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MARIETTA, Pa., Jan. 19, 2021 (GLOBE NEWSWIRE) -- The Donegal Insurance Group,
which consists of Donegal Mutual Insurance Company and the insurance
subsidiaries of Donegal Group Inc. (NASDAQ:DGICA) and (NASDAQ:DGICB), today
announced the appointment of Jeffery T. Hay as Senior Vice President and Chief
Underwriting Officer.

Mr. Hay will play a key underwriting oversight role as Donegal continues to
expand its underwriting capabilities to maximize the value Donegal provides to
its policyholders and independent agents. Mr. Hay will also oversee process
innovation to modernize and streamline the underwriting process by leveraging
new technologies and enhanced data analytics in support of Donegal’s
strategic objective to generate continued profitable growth in current and
future markets.

Mr. Hay brings to Donegal over 25 years of personal and commercial lines
experience, with expertise in underwriting, ratemaking, product management,
use of data analytics in front-line pricing and underwriting decisions and
project management. He started his career at Nationwide, where he held various
personal lines actuarial leadership roles. He also held various leadership
roles at The Hartford, including Head of Product Management and Underwriting
for Personal Lines, Chief Actuary of Small Commercial, Head of Field
Underwriting Financial Management and oversight of the Project Management
Office for Middle Market Commercial.

For the past several years, Mr. Hay worked for Willis Towers Watson as Senior
Director in the Insurance Consulting and Technology division, where his
primary responsibilities included leadership of commercial lines pricing,
product and claims consulting engagements.

Jeff is a graduate of The Ohio State University with a Bachelor of Science
Degree in Actuarial Science and Economics. He is a Fellow of Casualty
Actuarial Society (FCAS) and a Member of American Academy of Actuaries (MAAA).

Kevin G. Burke, President and Chief Executive Officer of Donegal Group Inc.,
noted, “We are excited to welcome Jeff Hay to our senior leadership team. We
have added experienced industry talent to our professional team as we
implement our vision for both personal lines and commercial lines. We
appointed Kristi Altshuler as our SVP and Chief Analytics Officer in March
2019, and she has assembled a team of talented industry professionals that has
greatly enhanced our data analytics and modeling capabilities. We expect to
leverage Jeff’s expertise to accelerate our development of innovative
underwriting strategies and further expand our capabilities. Jeff brings
extensive industry knowledge to Donegal, along with a strong track record of
successfully leading transformative operational change in his prior roles. Our
entire team is collaborating to strategically modernize our organization, and
we look forward to Jeff’s contributions to that ongoing effort.”

About the Company

Donegal Group Inc. is an insurance holding company whose insurance
subsidiaries and affiliates offer personal and commercial property and
casualty lines of insurance in 24 Mid-Atlantic, Midwestern, New England,
Southern and Southwestern states. Donegal Mutual Insurance Company and the
insurance subsidiaries of Donegal Group Inc. conduct business together as the
Donegal Insurance Group. The Donegal Insurance Group has an A.M. Best rating
of A (Excellent).

The Class A common stock and Class B common stock of Donegal Group Inc. trade
on the NASDAQ Global Select Market under the symbols DGICA and DGICB,
respectively. We are focused on several primary strategies, including
achieving sustained excellent financial performance, strategically modernizing
our operations and processes to transform our business, capitalizing on
opportunities to grow profitably and delivering a superior experience to our
agents and customers.

Safe Harbor

We base all statements contained in this release that are not historic facts
on our current expectations. These statements are forward-looking in nature
(as defined in the Private Securities Litigation Reform Act of 1995) and
involve a number of risks and uncertainties. Actual results could vary
materially. Factors that could cause actual results to vary materially
include: our ability to attract new business, retain existing business and
collect balances due to us as a result of the prolonged economic challenges
resulting from the COVID-19 pandemic, adverse and catastrophic weather events,
our ability to maintain profitable operations, the adequacy of the loss and
loss expense reserves of our insurance subsidiaries, business and economic
conditions in the areas in which our insurance subsidiaries operate, interest
rates, competition from various insurance and other financial businesses,
terrorism, the availability and cost of reinsurance, legal and judicial
developments including those related to COVID-19 business interruption
coverage and exclusions, changes in regulatory requirements and other risks we
describe in the periodic reports we file with the Securities and Exchange
Commission. You should not place undue reliance on any such forward-looking
statements. We disclaim any obligation to update such statements or to
announce publicly the results of any revisions that we may make to any
forward-looking statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such statements.

For Further Information:

Jeffrey D. Miller, Executive Vice President & Chief Financial Officer 
Phone: (717) 426-1931

Adam Prior, Senior Vice President, The Equity Group Inc.
Phone: (212) 836-9606

GlobeNewswire, Inc. 2021
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