Donegal Group Profit Falls as Insurance Competition Intensifies
MARIETTA, PA — Donegal Group Inc. (Nasdaq: DGICA, DGICB) reported a 9.6% decline in third-quarter profit as intensifying competition reduced insurance premium volume and higher weather-related losses pressured underwriting results, prompting the Pennsylvania insurer to pursue more selective growth. Net income fell to $18.2 million, or 49 cents per diluted…