Donegal Group Inc (NASDAQ:DGICA) Q2 2020 Earnings Conference Call - Final Transcript

Jul 28, 2020 • 11:00 am ET

Previous

Donegal Group Inc (NASDAQ:DGICA) Q2 2020 Earnings Conference Call - Final Transcript

Share
Close

Loading Event

Loading Transcript

Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Donegal Group Inc. Second Quarter 2020 Earnings Conference Call.

[Operator Instructions] I will now turn the call over to Jeff Miller, Chief Financial Officer to begin.

Executive
Jeffrey D. Miller

Thank you very much. Good morning everyone. Welcome to the Donegal Group conference call for the second quarter ended June 30th, 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 donegalgroup.com.

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

Before we get started, please 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 and 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.

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

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

Executive
Kevin G. Burke

Thanks, Jeff, and welcome, everyone. Overall, we are pleased with our second quarter results and we remain cautiously optimistic as we monitor uncertain long-term impacts created by the COVID-19 pandemic. Our employees and independent agents as well as our customers have proven to be adaptive and resilient in responding to the challenges related to COVID-19 and the related economic disruption.

Conditions and government responses have varied widely across our regions, with restrictive mandates that may vary even from county to county within a given state. We've continued to focus our efforts on serving our agents and customers while paying close attention to all the regulatory activity, to ensure our compliance with all the state and local requirements that apply to us.

In late March, we moved aggressively to equip our employees with the technology and tools they needed to conduct our business remotely. While the vast majority of our employees continue to work from home, we are beginning to bring small numbers of employees back into our offices. And when our agents and customers are comfortable doing so, our marketing staff and agents are beginning to resume limited in-person meetings.

I want to emphasize that we are taking the health and well-being of our employees, agents, and customers very seriously, and as such we're being extremely vigilant when it comes to making sure our interactions are conducted with appropriate precautions.

All the states in which we conduct business began to ease restrictions and reopen