MARIETTA, Pa., Sept. 7, 2010 (GLOBE NEWSWIRE) -- Donegal Group Inc. (Nasdaq:DGICA) (Nasdaq:DGICB) was named to a list of Most Trustworthy Companies, ranking the company among firms with the most transparent accounting and prudent management as determined by Audit Integrity, an independent financial analytics company, and reported by Forbes.
According to Forbes, Audit Integrity analyzed over 100 factors to assess the quality of public companies' corporate accounting and management practices, seeking to identify factors that are associated with fraud, earnings restatements and securities lawsuits. Audit Integrity has developed metrics to assign Accounting and Governance Risk ratings to public companies that range from Very Aggressive to Conservative. Companies that have been consistently rated Conservative have been shown to be the most trustworthy. Fewer than 5% of public companies make Audit Integrity's Most Trustworthy Companies list.
"We are pleased to be recognized by Forbes and Audit Integrity as a 'Most Trustworthy Company' and to have received a perfect score based on their analysis of our accounting and governance practices for the past five years," said Donald H. Nikolaus, President and Chief Executive Officer of Donegal Insurance Group.
More information regarding the Audit Integrity "Most Trustworthy Companies" analysis can be found at . A reprint of the Forbes article is also available as a "Featured Report" in the Investors area of Donegal Group Inc.'s website at .
Donegal Group Inc. is an insurance holding company whose insurance subsidiaries offer personal and commercial property and casualty lines of insurance in four Mid-Atlantic states (Delaware, Maryland, New York and Pennsylvania), three New England states (Maine, New Hampshire and Vermont), seven Southeastern states (Alabama, Georgia, North Carolina, South Carolina, Tennessee, Virginia and West Virginia) and six Midwestern states (Iowa, Nebraska, Ohio, Oklahoma, South Dakota and Wisconsin).
The insurance subsidiaries of Donegal Group Inc. and Donegal Mutual Insurance Company conduct business together as the Donegal Insurance Group. The Donegal Insurance Group has an A.M. Best rating of A (Excellent) and has been ranked among the top 50 performing property-casualty insurance companies nationwide in each of the past six years by Ward Group, a Cincinnati-based operational consulting firm specializing in the insurance industry.
CONTACT: Donegal Group Inc. Jeffrey D. Miller, Senior Vice President & CFO 717-426-1931 jeffmiller@donegalgroup.com