At the Donegal Insurance Group, we trace our origins to the formation of the Donegal and Conoy Mutual Fire Insurance Company in Marietta, Pennsylvania on May 13, 1889. The company was originally formed by area farmers in order to protect themselves from the potentially devastating financial impact of a loss of their property by fire. Eventually the name of the company was changed to Donegal Mutual Insurance Company, and we have been continuously serving the insurance buying public since 1889.
In 1986, Donegal Mutual formed a downstream insurance holding company, Donegal Group Inc. An insurance holding company is a business corporation that owns insurance companies but is not an insurance company itself. In 1986, Donegal Group Inc. completed an initial public offering of common stock, with Donegal Mutual retaining a majority interest. Two separate classes of common stock of Donegal Group Inc. now trade on NASDAQ under the symbols DGICA and DGICB.
Atlantic States Insurance Company was also incorporated in 1986 as a wholly-owned subsidiary of Donegal Group Inc. Atlantic States and Donegal Mutual have a pooling agreement under which both companies are allocated a given percentage of their combined underwriting results.
In 1989, Donegal Group Inc. acquired Southern Insurance Company of Virginia, expanding its geographical service area into the state of Virginia.
During the 1990's, Donegal Group Inc. completed acquisitions of Delaware Atlantic Insurance Company (based in Delaware), Pioneer Insurance Company (based in Ohio), Southern Heritage Insurance Company (based in Georgia) and Pioneer Insurance Company (based in New York). These acquisitions have expanded Donegal Insurance Group's abilities to provide insurance products in the operating regions served by these companies.
During 2001 and 2002, we streamlined our corporate structure by merging several of our subsidiaries. In 2001, the mergers of Delaware Atlantic Insurance Company and Pioneer Insurance Company of New York into Atlantic States Insurance Company were completed. In 2002, the mergers of Southern Heritage Insurance Company into Southern Insurance Company of Virginia and Pioneer Insurance Company of Ohio into Atlantic States Insurance Company were completed.
In 2004, Donegal Group Inc. acquired Le Mars Insurance Company and the Peninsula Insurance Group. Le Mars is headquartered in Le Mars, Iowa. The Peninsula Insurance Group operates from its headquarters in Salisbury, Maryland.
In 2008, Donegal Group Inc. acquired Sheboygan Falls Insurance Company, headquartered in Sheboygan Falls, Wisconsin.
In 2009, Donegal Mutual affiliated with Southern Mutual Insurance Company, headquartered in Athens, Georgia.
In 2010, Donegal Group Inc. acquired Michigan Insurance Company, headquartered in Grand Rapids, Michigan.