The Donegal Mutual Insurance coverage Corporation functions as a mutual fire and casualty insurance coverage entity that concentrates on giving a versatile variety of individual, farm and a selection of industrial items. It also underwrites coverage for individual and industrial insurance coverage. The business itself tends to make use of a network of about 1,200 independent insurance coverage agents as a medium when it delivers its wide choice of insurance coverage items to the marketplace. These agents they tap into are typically from Pennsylvania, Virginia, Ohio, Maryland, Delaware, North Carolina and the complete of the Mid-Atlantic, Southeastern and Midwestern regions in the nation.
Ahead of, the business was officially identified as Donegal and Conoy Mutual Fire Insurance coverage all through the sector. Founded way back in 1889, it stationed its headquarters in Marietta, Pennsylvania. It was initially constituted by the farmers all through the region as their protection from a doable disastrous monetary effect of a loss of their individual house by means of fire. Just after a whilst, the name of the business was ultimately changed to the Donegal Mutual Insurance coverage Corporation that everyone knows now.
The robust and healthful monetary foundation combined with incredibly prosperous operating principles and methods earned the “A” rating (which means exceptional) by the A.M. Most effective Corporation. Back in 1986, Donegal Mutual masterminded the formation of a downstream holding business that nevertheless issues itself with insurance coverage, the Donegal Group Incorporated. An insurance coverage holding business functions just like that of a typical enterprise corporation that owns insurance coverage providers, but the catch is, it really is not a true insurance coverage itself. The Donegal Group Incorporated produced an initial supplying of widespread stock to the shopping for public in a program exactly where the Donegal Mutual retained a majority interest. There are now two separate types of widespread stock of the Donegal Group Incorporated at present trading on NASDAQ symbolized by DGICA and DGICB.
A further business was incorporated into the fold back in that eventful 1986 named Atlantic States Insurance coverage. It is far more of a wholly-owned subsidiary of the Donegal Group Incorporated exactly where it had a pooling agreement with that of Donegal Mutual, that each providers will be assigned a provided percentage of the combined underwriting outcomes. 3 years later, the Donegal Group Incorporated began expanding its influence and geographical region especially in the state of Virginia by acquiring the Southern Insurance coverage of Virginia.
The 90’s saw substantial completed acquisitions of the Delaware-primarily based Delaware Atlantic Insurance coverage Corporation, the Pioneer Insurance coverage Corporation primarily based in Ohio, the Southern Heritage Insurance coverage primarily based in Georgia and the Pioneer of New York. These far-reaching acquisitions of the Donegal Insurance coverage Group gave it the capacity to offer you and give insurance coverage items all through these regions served by these acquired providers.
The years 2001 and 2002 have been fascinating years. The corporate structure was streamlined by means of the merging of numerous subsidiaries. A fantastic instance was the comprehensive merger involving the Delaware Atlantic and the Pioneer Insurance coverage Corporation of New York into the Atlantic States Insurance coverage. Other notable acquisitions incorporate Le Mars Insurance coverage Corporation and the Peninsula Insurance coverage Group in 2004 and the Sheboygan Falls in Wisconsin. And in 2009, Donegal Mutual Insurance coverage affiliated with the Southern Mutual primarily based in Georgia.