Good morning and thank you for joining us today. This morning, Donegal Group issued its Fourth Quarter and Full Year 2024 Earnings Release outlining its results. The release and the supplemental investor presentation are available in the Investor Relations section of Donegal’s website at www.donegalgroup.com. Please be advised that today’s conference was pre-recorded, and all participants are in listen-only mode. Speaking today will be President and Chief Executive Officer, Kevin Burke; Chief Financial Officer, Jeff Miller; Chief Underwriting Officer, Jeff Hay; Chief Operating Officer, Dan DeLamater; and Chief Investment Officer, Tony Viozzi. Please be aware that statements made during this call that are not historical facts, are “forward-looking statements” and necessarily involve risks and uncertainties that could cause actual results to vary materially. These factors can be found in Donegal Group’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company disclaims any obligation to update or publicly announce the results of any revisions that they may make to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. With that, it is my pleasure to turn it over to Mr. Kevin Burke. Kevin?

Thank you Karin and welcome everyone. We are pleased to provide an update today on our quarterly results, important accomplishments in 2024, and areas of focus for 2025. At this time last year, I stated that we believed the action plans and rate increases we implemented during 2023 would lead to incremental improvement in our results for 2024 and beyond. In today’s call, we will outline the details of the improvement we achieved. Our fourth quarter 2024 net income of $24 million represents the highest quarterly earnings in our history. While weather related losses were lower than average during the fourth quarter of 2024, the primary driver of our favorable results was substantial improvement in our core loss ratios in both commercial lines and personal lines. We are now reaping the benefits of all of the underwriting actions, specific state strategies, significant premium rate increases we implemented over the past several years, and leveraging our new technology and product enhancements. We are not finished with all of those actions, as we continue to address pockets of underperformance to build on the positive momentum. We made excellent progress during 2024 on the last two major software releases within our systems modernization project. As a reminder, a major commercial systems release scheduled for deployment in the third quarter of 2025 will include a new commercial package policy and will modernize our mid-market commercial products remaining on our legacy systems. These products will allow us to continue to compete effectively for profitable commercial accounts. Our last major software release will facilitate the conversion of all remaining legacy personal lines policy renewals to the new operating platform. I want to express my appreciation to the technology and business teams that are working diligently to complete the development and testing of both of these releases,…

Thanks Kevin. I’ll start with a summary of our fourth quarter results and then provide some highlights of our full year results. For the fourth quarter of 2024, net premiums earned increased 4.6% to $236.6 million. Net premiums written decreased by 0.6%, with a 5% decrease in personal lines premiums offset partially by 2.8% growth in commercial lines. Rate increases achieved during the fourth quarter were in double-digit percentages for all major lines of business except workers’ compensation, averaging 11% in total and 12% when excluding workers’ comp. The combined ratio for the fourth quarter of 2024 was an excellent 92.9%, compared to 106.8% for the prior-year quarter. We attribute the improvement to a 9.5 percentage point decrease in the core loss ratio compared to the prior-year quarter. The core loss ratio is a measure of our underlying underwriting performance after excluding the impact of weather-related losses, large fire losses, and net development of reserves for losses incurred in prior accident years. Compared to the prior-year quarter, we achieved a 4.4 percentage-point decrease in the commercial lines core loss ratio and a 16.7 percentage-point decrease in the personal lines core loss ratio for the fourth quarter of 2024. The substantial improvement in the personal lines core loss ratio was due largely to the favorable impact of premium rate increases on net premiums earned for that segment. Weather-related losses of $7.7 million or 3.3 percentage points of the loss ratio for the fourth quarter of 2024, decreased from $13.4 million, or 5.9 percentage points of the loss ratio for the fourth quarter of 2023. We incurred lower commercial property losses, with $1.5 million of weather losses contributing 2.8 percentage points to the quarterly commercial multi-peril loss ratio, compared to $3.5 million of weather losses contributing 7 percentage points for the fourth…

Thank you, Jeff. We are very pleased with the significant improvement in our bottom-line performance for both the fourth quarter and the full year of 2024 that we believe reflects the strategies and the action plans we have been executing to transform our underwriting discipline over the past few years. We saw improvement in the core loss ratio in every major line across our book of business compared to the prior-year quarter, with 9.5 percentage points of improvement for all lines combined, which is a continuing trend from the third quarter of 2024 where we achieved 6.6 points of improvement over the prior-year quarter. Commercial lines, specifically, net premiums written grew 2.8% during the fourth quarter, resulting in a 3.7% growth for the full-year. While we are still intentionally shedding business in certain profit-challenged classes and geographies, the execution of our go-forward strategy in our commercial lines of business is generating positive momentum as we head into 2025. As we mentioned in the third quarter webcast, we completed our exit of commercial lines business in the states of Georgia and Alabama. This marked a significant milestone in our profit improvement efforts, with the impact of this exit on our growth now behind us. During 2025, we will begin to non-renew all policies in Maine and New Hampshire, which together represent less than $2 million of commercial lines premium. Our exit from these two states will further refine our core footprint and allow us to concentrate resources in areas where we have opportunities for sustainable growth. We continued to achieve solid new business growth and high retention rates for desired commercial accounts this past quarter. Our new business remains well aligned within our targeted geographies and classes of business. Notably, we wrote 67% of our new business in highly targeted classes…

Thank you, Jeff. As in the past, I will provide an update on several operational initiatives that support our underwriting actions and overall corporate objectives. We are pleased with our performance and significant improvement realized during the quarter and throughout 2024. Bottom line, in addition to all the strategies Jeff Hay just discussed, we believe that we are also seeing favorable results from our consolidated regional structure; robust state strategy planning process, One-Team alignment between marketing, underwriting, and product teams; enhanced price sophistication; and organizational focus on expense reduction. As highlighted in previous quarterly calls, our product team members continue to work closely with both underwriting and marketing staff to manage closely each regional product portfolio. This alignment is critical as we look to balance necessary rate achievement with top line growth objectives. Our analytics team continues to provide visibility to key data points for our book of business so that our teams have quick and easy access to key metrics at a regional, state, territory, and agency levels. These analytical professionals work closely with our technical data team to provide robust and consumable data so that we can make intelligent, data-driven business decisions. Our ability to develop this area as a core operational strength during a multi-year overhaul of our entire policy management eco-system is a testament to the technical team we have at Donegal. Additionally, our entire leadership team embraced our objective to reduce our expense ratio, relative to our original 2024 projections, by 1 percentage point in 2024 and 2 percentage points by the end of 2025. We are pleased to have achieved the objective we set for 2024. The timing of our expense reduction efforts is challenging but critical for our operations. We realized the peak expense impact of our multi-year systems modernization project in 2024…

Thank you, Dan. Our investment approach remains firmly grounded in our conservative philosophy. By strategically selecting assets with strong fundamentals, we aim to mitigate risk while ensuring long-term stability. Our primary objective extends beyond capital preservation. We strive to construct a portfolio that is durable, flexible, and well-positioned to navigate evolving market conditions. As such, in 2024 we continued to shift into higher-spread products including corporate debt, mortgage backed securities, equities, and structured notes. By diversifying across asset classes with attractive risk-adjusted yields, we seek to enhance income generation, strengthen portfolio resilience, and position ourselves for long-term growth in a dynamic market environment. These actions produced a net investment income growth of 12.5%, resulting in $12.1 million for the fourth quarter of 2024. For the full year, we achieved 10% growth in net investment income year-over-year to $44.9 million, which was the highest annual net investment income in our history, a testament to our disciplined investment strategy, consistent portfolio growth, and increased yields over the year. The average tax-equivalent yield for the fourth quarter was 3.58%, up from 3.34% in the prior-year fourth quarter. This increase reflects the ongoing favorable impact of higher market rates on reinvestment cash flow. During 2024, approximately $153 million of bond cash flow yielding 4.31% was reinvested at 5.37%, for a spread of 106 basis points. Looking forward to 2025, we project that we will receive approximately $135 million of portfolio cash flow with an average yield of approximately 3.85%. Assuming new money rates remain at current levels, we will receive 115 basis points of improvement in our yield spread as we reinvest those funds. Our increase in portfolio assets in 2024 allowed us to capitalize on new opportunities, including increasing our equity holdings by approximately 42% throughout the year. While equity investments remain a modest allocation of our portfolio, this increase positions us to benefit from higher stock market valuations over time. While net investment gains were minimal for the fourth quarter of 2024, compared to a $2.2 million net investment gain for the fourth quarter of 2023. Net investment gains for the full year 2024 were $5.0 million, compared to $3.2 million for 2023. These net gains were primarily attributable to the increase in market value of the equity securities held at the end of each respective period. At December 31, 2024, book value per share was $15.36, a 6.7% increase from $14.39 at December 31. 2023. This increase was attributable to the positive impact of our operating income, a $4.7 million after-tax increase in the market value of our available-for-sale fixed income portfolio, and net investment gains. Those increases were partially offset via regular quarterly cash dividends. Consistent with our longstanding investment approach, we remain dedicated to disciplined risk management and strategic asset allocation to navigate challenges, seize opportunities, and maintain resilience in a constantly evolving market environment. I will now turn it back to Kevin for closing remarks.

Thank you, Kevin. While we requested and received questions in advance of today’s call, we have worked answers to these questions into our prepared remarks. If there are any additional questions, please feel free to reach out to us. This now concludes the Donegal Group fourth quarter and full year 2024 earnings webcast. You may now disconnect.