Updated
The most significant concentration Donegal Group discloses is Pennsylvania, Michigan, Delaware, Maryland and Virginia, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: Donegal Group’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'A substantial portion of their business consists of private passenger and commercial automobile, homeowners, commercial multi-peril and workers' compensation insurance in Pennsylvania, Michigan, Delaware, Maryland and Virginia.'”
“10-K Item 1: 'The business Atlantic States derives from the underwriting pool represents a significant percentage of our total consolidated revenues.'”
Donegal Group's disclosed concentration spans both geography and a specific counterparty relationship, both at a medium share. A substantial portion of the company's private passenger and commercial automobile, homeowners, commercial multi-peril, and workers' compensation insurance business is written in Pennsylvania, Michigan, Delaware, Maryland, and Virginia, a structural exposure tied to where the business underwrites policies rather than to any single counterparty. Separately, the business Atlantic States derives from the underwriting pool with Donegal Mutual represents a significant percentage of total consolidated revenues, a dependency-type exposure on that pooling arrangement specifically. Both exposures sit at a medium share, so neither alone stands out as dominant, but they compound in a meaningful way: the regional insurance mix determines the underlying risk being underwritten, while the Donegal Mutual pool determines how much of that regional business flows through to consolidated results. Together, they suggest the investment thesis is sensitive both to regional insurance conditions and to the continuity of the intercompany pooling arrangement, rather than to a single dominant factor.
For the engine’s reasoning on DGICA’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ASIC | Ategrity Specialty Insurance Co | 2 | 1 | 1 | 4 |
| AIZ | Assurant, Inc. | 1 | 2 | 0 | 3 |
| ALL | Allstate Corporation (The) | 1 | 0 | 0 | 1 |
| DGICA● | Donegal Group, Inc. | 0 | 2 | 0 | 2 |
| AFG | American Financial Group, Inc. | 0 | 0 | 2 | 2 |
| ACIC | American Coastal Insurance Corp | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.