Donegal Group Inc (NASDAQ:DGICB) Q1 2020 Earnings Conference Call - Final Transcript

Apr 29, 2020 • 11:00 am ET


Donegal Group Inc (NASDAQ:DGICB) Q1 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Donegal Group Inc. First Quarter 2020 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Mr. Jeff Miller, Chief Financial Officer. Thank you. Please go ahead, sir.

Jeffrey D. Miller

Thank you very much. Good morning, everyone. Welcome to the Donegal Group conference call for the first quarter ended March 31, 2020. Yesterday afternoon, we issued a news release outlining our quarterly results. For a copy of that release, please visit the Investor Relations section of our website at

In today's call, Kevin Burke, President and Chief Executive Officer, will provide an update on our business strategy and highlight recent developments. I'll follow Kevin's comments with an overview of our quarterly financial details. At the conclusion of our prepared comments, we will open the line for any questions you might have.

Before we get started, you should be aware that our commentary today includes forward-looking statements that involve a number of risks and uncertainties. We described forward-looking statements in our news release. And we provided further information about risk factors that could cause actual results to differ materially from those we project in the forward-looking statements in the report on Form 10-K that we submitted to the SEC. You can access our Form 10-K through the Investors section of our website.

We use certain non-GAAP financial measures to analyze our business results, and we refer you to the reconciliation of non-GAAP information included in the news release that we issued yesterday.

With that, I'll turn it over to Kevin.

Kevin G. Burke

Thanks, Jeff, and welcome, everyone. I want to start by thanking our employees and independent agents for their dedication and commitment, as we navigate through these challenging times. Like many companies, Donegal has mobilized a remote workforce with the majority of our employees working from home to ensure the continuation of vital services to agents and policyholders. I'm extremely proud of our team for pulling together during this crisis and making the adjustments needed to enable us to maintain high standards of professionalism and exceptional customer service.

Since it's on everyone's mind, let's start with the impact of COVID-19 and our response to date. As we have received advice from health officials and shelter-in-place mandates from government agencies, we implemented a business continuity plan to protect the health and safety of our employees and their families, while also continuing to provide services to agents and policyholders without disruption. Our core operations are functioning effectively, and we've been able to have regular communications with employees and agents to address challenges inherent with operational changes.

COVID-19 had minimal impact on our first quarter 2020 results. And overall, we were pleased with those results, which we will discuss in a moment.

We have now shifted our focus to the second quarter and the remainder of the year, as we attempt to assess the impact COVID-19 will have