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First Division Concluded March 31, 2018Net Blow Per Allotment – $0.00Non-GAAP Operating Assets Per Share* – $0.19Net Accomplished Advance Assets and Change in Net Unrealized    Advance Assets on Disinterestedness Investments Per Allotment – ($0.19)Catastrophe and Storm Losses Per Allotment – $0.17GAAP Accumulated Arrangement – 104.6 percent



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2018 Non-GAAP Operating Assets Guidance* of $1.10 to $1.30 per share

*Denotes banking admeasurement not affected in accordance with about accustomed accounting attempt (non-GAAP). See “Definition of Non-GAAP Advice and Reconciliation to Commensurable GAAP Measures” for added information.

DES MOINES, Iowa, May 04, 2018 (GLOBE NEWSWIRE) — EMC Allowance Group Inc. (Nasdaq:EMCI) (the “Company”), today appear a net blow of $76,000 ($0.00 per share) and a blow and adjustment bulk arrangement of 71.0 percent for the aboriginal division concluded March 31, 2018, compared to net assets of $6.8 actor ($0.32 per share) and a blow and adjustment bulk arrangement of 66.6 percent for the aboriginal division of 2017. Included in the net blow appear in 2018 is a $9.9 actor pre-tax abatement in abeyant advance assets on the Company’s disinterestedness investments as appropriate by the adapted banking instruments accounting advice issued by the Banking Accounting Standards Board (FASB), which the Aggregation adopted on January 1, 2018. This abatement in abeyant advance assets on disinterestedness investments was partially anniversary by $4.5 actor of pre-tax accomplished advance gains. Pre-tax accomplished advance losses totaled $627,000 in the aboriginal division of 2017.



The butt of the abatement in aboriginal division 2018 after-effects is primarily attributed to a aerial akin of non-catastrophe losses in the acreage and blow allowance articulation and a slight abasement in the achievement of the reinsurance articulation compared to the absolute acceptable after-effects appear in the aboriginal division of 2017. Blow and storm losses for the Aggregation beneath decidedly in the aboriginal division of 2018 from the almanac bulk incurred in the aboriginal division of 2017; however, this abatement was added than anniversary by a beyond abatement in the bulk of favorable development accomplished on above-mentioned years’ reserves. The assets tax expense/benefit amounts appear for 2018 reflect the new 21 percent federal accumulated tax rate, compared to the 35 percent federal accumulated tax bulk in aftereffect in 2017.

“Persistent algid temperatures beyond abundant of our brand acquired a college than advancing akin of non-catastrophe bartering acreage losses, primarily from fires and baptize blow from arctic pipes,” declared President and Chief Executive Officer Bruce G. Kelley. “This can be a accepted blow during periods of connected or almighty algid temperatures, and we do not apprehend this to be a continuing trend for the butt of 2018.”

Kelley continued, “We abide to see abiding advance in premiums accounting in our acreage and blow allowance articulation and able advance in our reinsurance segment, which accelerated from the fourth division of 2017. We capitalized on adorable opportunities aural the reinsurance barter by abacus some new business, as able-bodied as accretion accord on assertive high-quality face-lifting accounts. We were a adopted provider to accommodated the reinsurance needs of these accounts due to the strong, abiding relationships we accept accustomed with our clients.”

Non-GAAP operating income, which excludes net accomplished advance gains/losses and, alpha in 2018, the change in net abeyant advance gains/losses on disinterestedness investments from net income/loss, totaled $4.2 actor ($0.19 per share) for the aboriginal division of 2018, compared to $7.2 actor ($0.34 per share) for the aboriginal division of 2017. The Company’s GAAP accumulated arrangement was 104.6 percent in the aboriginal division of 2018, compared to 101.4 percent in the aboriginal division of 2017.

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On January 1, 2018, the Aggregation adopted adapted accounting advice issued by the FASB which prohibits including apparatus of net alternate alimony and postretirement anniversary costs/income, added than the anniversary bulk component, in any capitalized asset. In affiliation with the acceptance of this adapted guidance, administration has adopted to address all apparatus of net alternate alimony and postretirement anniversary income, added than the anniversary bulk component, as added assets in the circumscribed statements of income. The anniversary bulk basal continues to be appear in added underwriting expenses. This change in advertisement was activated retrospectively for allegory purposes and did not appulse the net income/loss or non-GAAP operating assets amounts appear for the aboriginal abode of 2018 or 2017, as added assets and added underwriting costs added by the aforementioned amount; however, it did admission the accretion bulk ratios, and accordingly the accumulated ratios, by 1.2 allotment credibility and 0.9 allotment credibility for the aboriginal abode of 2018 and 2017, respectively.

Premiums becoming added 7.8 percent for the aboriginal division of 2018. In the acreage and blow allowance segment, premiums becoming added 4.4 percent. The majority of this admission is attributed to new business in both bartering and claimed curve of business, an admission in retained behavior in the bartering curve of business and baby bulk akin increases on face-lifting business. In the reinsurance segment, premiums becoming added 20.5 percent for the aboriginal division due to increases in accord on absolute multi-line contracts, acreage per blow contracts, and a specialty blow contract, college estimated premiums on a ample adopted activity arrangement aural the pro rata band of business, and the accession of some new business.

Catastrophe and storm losses totaled $4.7 actor ($0.17 per allotment afterwards tax) in the aboriginal division of 2018, compared to a almanac $13.4 actor ($0.41 per allotment afterwards tax) in the aboriginal division of 2017. Aboriginal division blow and storm losses accounted for 3.0 allotment credibility of the accumulated ratio, which is able-bodied beneath the Company’s best contempo 10-year boilerplate of 5.6 allotment credibility for this period, and the 9.3 allotment credibility accomplished in the aboriginal division of 2017. On a articulation basis, blow and storm losses for the aboriginal division of 2018 amounted to $4.3 actor ($0.16 per allotment afterwards tax) in the acreage and blow allowance segment, and $396,000 ($0.01 per allotment afterwards tax) in the reinsurance segment.

The acreage and blow allowance articulation incurred $9.8 actor of blow and storm losses in the aboriginal division of 2017, which abounding about one-half of the $20 actor assimilation bulk absolute in the intercompany reinsurance accord accoutrement the aboriginal bisected of 2017. As a result, blow and storm losses were capped at $10.2 actor in the additional division of 2017. Due to the almost low bulk of blow and storm losses incurred during the aboriginal division of 2018 and a $2 actor admission in the assimilation bulk absolute in the intercompany reinsurance accord accoutrement the aboriginal bisected of 2018, the acreage and blow allowance articulation would accept to absorb about $17.7 actor of blow and storm losses in the additional division of 2018 afore those losses would be capped.

The Aggregation appear $5.6 actor ($0.21 per allotment afterwards tax) of favorable development on above-mentioned years’ affluence during the aboriginal division of 2018, compared to $14.9 actor ($0.46 per allotment afterwards tax) in the aboriginal division of 2017. The favorable development appear for the aboriginal division of 2018 is attributed to both segments. In the acreage and blow allowance segment, favorable development totaled $2.1 million, compared to $8.5 actor in 2017. The abatement in favorable development is in band with management’s expectations as ahead reported. Management’s acquaintance with selecting ultimate blow and adjustment bulk ratios beneath the blow year ultimate alignment instituted in 2016 has led to added aesthetic ultimate selections afterpiece to the actuarial axial estimate. During the aboriginal division of 2018, the majority of the favorable development occurred in the workers’ advantage band of business absorption reductions in the ultimate blow ratios for several blow years, including 2017, due to reductions in accepted ultimate abundance and/or severity. This was partially anniversary by adverse development constant from an admission in ultimate blow ratios in the bartering auto and bartering acreage curve of business for blow year 2017 due to college than accepted severity. In the reinsurance segment, favorable development totaled $3.4 actor compared to $6.4 actor in 2017. The favorable development appear for the aboriginal division of 2018 reflects a abridgement in the ultimate blow ratios in the acreage balance of blow and acreage pro rata curve of business for blow years 2014 through 2017. This was partially anniversary by adverse development in the blow balance of blow band of business area ultimate blow ratios were added in acknowledgment to college than accepted appear losses for several blow years.

In the acreage and blow allowance segment, the basal blow and adjustment bulk ratio* (which excludes the appulse of blow and storm losses and development on above-mentioned years’ reserves) added 3.3 allotment credibility to 68.6 percent from 65.3 percent in the aboriginal division of 2017. This primarily reflects an admission in the accepted blow year ultimate blow and adjustment bulk arrangement bump in the bartering acreage band of business, and to a bottom extent, increases in the homeowners and bartering auto curve of business.

Net advance assets added 3.3 percent to $11.4 actor for the aboriginal division concluded March 31, 2018, from $11.0 actor for the aboriginal division of 2017. This admission is due to advance in the anchored ability portfolio and college concise absorption rates.

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History of The General® | The General Car Insurance | thegeneral insurance

The pre-tax accomplished advance assets of $4.5 actor for the aboriginal division of 2018 includes $1.8 actor of pre-tax accomplished advance assets attributed to an admission in the accustomed bulk of a bound affiliation that helps assure the Aggregation from a abrupt and cogent abatement in the bulk of its disinterestedness portfolio (the disinterestedness tail-risk ambiguity strategy). The pre-tax accomplished advance losses of $627,000 for the aboriginal division of 2017 includes $2.3 actor of pre-tax accomplished advance losses attributed to a abatement in the accustomed bulk of this bound partnership.

Other assets totaled $1.6 actor in the aboriginal division of 2018, compared to $0.9 actor in the aboriginal division of 2017. The 2018 bulk includes $1.9 actor of net alternate alimony and postretirement anniversary assets and $436,000 of adopted bill barter loss. The 2017 bulk includes $1.3 actor of net alternate alimony and postretirement anniversary assets and $571,000 of adopted bill barter loss.

At March 31, 2018, circumscribed assets totaled $1.7 billion, including $1.5 billion in the advance portfolio, and stockholders’ disinterestedness totaled $581.3 million, a abatement of 3.7 percent from December 31, 2017. Book bulk of the Company’s accepted banal decreased 4.0 percent to $27.02 per allotment from $28.14 per allotment at December 31, 2017, primarily due to a abatement in abeyant advance assets on the anchored ability portfolio attributable to an admission in absorption ante during the quarter, and the $0.22 per allotment allotment paid to stockholders.

On April 16, 2018, administration appear that, based on absolute after-effects for the aboriginal three months of the year and projections for the butt of the year, it was alteration its 2018 non-GAAP operating assets advice from the antecedent ambit of $1.40 to $1.60 per allotment to a ambit of $1.10 to $1.30 per share. This advice is based on a projected GAAP accumulated arrangement of 103.2 percent for the year, which has a bulk of 9.0 allotment credibility for blow and storm losses. This advice additionally assumes a low-single chiffre admission in advance assets and an able tax bulk in the mid-teens.

The Aggregation will authority an balance appointment alarm at apex Eastern time on Friday, May 4, 2018, to acquiesce balance analysts, stockholders and added absorbed parties the befalling to apprehend administration altercate the Company’s after-effects for the aboriginal quarter, as able-bodied as its expectations for the butt of 2018. Dial-in advice for the alarm is toll-free 1-844-850-0550 (International: 1-412-317-5180).

Members of the anniversary media, investors and the accepted accessible are arrive to admission a alive webcast of the balance appointment alarm via the Company’s broker relations folio at investors.emcins.com. The webcast will be archived and accessible for epitomize for about 90 canicule afterward the balance appointment call. A archetype will be accessible on the Company’s website anon afterwards the achievement of the balance appointment call. 

About EMCIEMC Allowance Group Inc. is a about captivated allowance captivation aggregation with operations in acreage and blow allowance and reinsurance, which was formed in 1974 and became about captivated in 1982. The Company’s accepted banal trades on the Global Select Bazaar bank of the Nasdaq Banal Bazaar beneath the attribute EMCI. Added advice apropos the Aggregation may be begin at investors.emcins.com. EMCI’s ancestor aggregation is Employers Mutual Blow Aggregation (Employers Mutual). EMCI and Employers Mutual, calm with their accessory and affiliated companies, conduct operations beneath the barter name EMC Allowance Companies.

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 History of The General® | The General Car Insurance
History of The General® | The General Car Insurance | thegeneral insurance

Cautionary Note Apropos Forward-Looking StatementsThe Private Balance Litigation Reform Act of 1995 provides issuers the befalling to accomplish cautionary statements apropos advanced statements. Accordingly, any advanced anniversary absolute in this address is based on management’s accepted beliefs, assumptions and expectations of the Company’s approaching performance, demography all advice currently accessible into account. These beliefs, assumptions and expectations can change as the aftereffect of abounding accessible contest or factors, not all of which are accepted to management. If a change occurs, the Company’s business, banking condition, liquidity, after-effects of operations, affairs and objectives may alter materially from those bidding in the advanced statements.

The risks and uncertainties that may affect the absolute after-effects of the Aggregation include, but are not bound to, the following:

Management intends to analyze advanced statements back application the words “believe”, “expect”, “anticipate”, “estimate”, “project”, “may”, “intend”, “likely” or agnate expressions. Undue assurance should not be placed on these advanced statements. The Aggregation disclaims any obligation to amend such statements or to advertise about the after-effects of any revisions that it may accomplish to any advanced statements to reflect the blow of advancing or hasty contest or affairs afterwards the date of such statements.

Definition of Non-GAAP Advice and Reconciliation to Commensurable GAAP MeasuresThe Aggregation prepares its accessible banking statements in acquiescence with GAAP. Administration uses assertive non-GAAP banking measures for evaluating the Company’s performance. These measures are advised non-GAAP banking measures beneath applicative Balance and Barter Commission (SEC) rules because they are not displayed as abstracted band items in the circumscribed banking statements or are not appropriate to be appear in the addendum to banking statements or, in some cases, accommodate or exclude assertive items not commonly included or afar in the best commensurable GAAP banking measure. The Company’s adding of non-GAAP banking measures may alter from agnate measures acclimated by added companies, so investors should exercise attention back comparing the Company’s non-GAAP banking measures to the measures acclimated by added companies. The afterward altercation includes reconciliations of the best anon commensurable GAAP banking measures to the non-GAAP banking measures referenced in this report.

Non-GAAP operating income: One of the primary non-GAAP banking measures activated by administration for evaluating the Company’s achievement is operating income. Non-GAAP operating assets is affected by excluding net accomplished advance gains/losses and, alpha in 2018, the change in net abeyant advance gains/losses on disinterestedness investments from net income/loss. While accomplished advance gains/losses are basal to the Company’s allowance operations over the continued term, the accommodation to apprehend advance assets or losses in any accurate aeon is accountable to alteration bazaar altitude and management’s discretion, and is absolute of the Company’s allowance operations. Above-mentioned to 2018, investments in disinterestedness investments were classified as available-for-sale and changes in abeyant advance gains/losses on disinterestedness investments were accustomed in added absolute income. Able January 1, 2018, the Aggregation adopted the adapted banking instruments advice issued by the FASB, which requires changes in the abeyant advance gains/losses on disinterestedness investments to be accustomed in net income/loss rather than added absolute income. Changes in abeyant advance gains/losses on disinterestedness investments are not anticipated due to alteration bazaar altitude and are accordingly additionally afar from the adding of non-GAAP operating income.

Management’s operating assets advice is additionally advised a non-GAAP banking measure. For the affidavit acclaimed above, administration is clumsy to accurately activity the bulk of net income/loss that will aftereffect from accomplished advance gains/losses and changes in the abeyant advance gains/losses on disinterestedness investments, and accordingly utilizes non-GAAP operating assets in the Company’s projected anniversary guidance.  

Management believes non-GAAP operating assets is advantageous to investors because it illustrates the achievement of the Company’s normal, advancing allowance operations, which is important in compassionate and evaluating the Company’s banking action and after-effects of operations. While this admeasurement is constant with measures activated by investors and analysts to appraise performance, it is not advised as a acting for the GAAP banking admeasurement of net income/loss.

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 History of The General® | The General Car Insurance
History of The General® | The General Car Insurance | thegeneral insurance

Property and blow allowance segment’s basal blow and adjustment bulk ratio: The blow and adjustment bulk arrangement is the arrangement (expressed as a percentage) of losses and adjustment costs incurred to premiums earned, which administration uses as a admeasurement of underwriting advantage of the Company’s acreage and blow allowance business. The basal blow and adjustment bulk arrangement is a non-GAAP banking admeasurement which represents the blow and adjustment bulk ratio, excluding the appulse of blow and storm losses and development on above-mentioned years’ reserves. Administration uses this arrangement as an indicator of the acreage and blow allowance segment’s underwriting conduct and achievement for the accepted blow year. Administration believes this arrangement is advantageous for investors to accept the acreage and blow allowance segment’s alternate balance and airheadedness of balance acquired by the capricious attributes (i.e., the timing and amount) of blow and storm losses and development on above-mentioned years’ reserves. While this admeasurement is constant with measures activated by investors and analysts to appraise performance, it is not advised as a acting for the GAAP banking admeasurement of blow and adjustment bulk ratio.

Industry MetricPremiums written: Premiums accounting is an industry metric acclimated in approved accounting to quantify the bulk of allowance awash during a defined advertisement period. Administration analyzes trends in premiums accounting to appraise business efforts, and uses it as a banking admeasurement for ambition ambience and free a allocation of agent and chief administration awards and compensation. Premiums earned, acclimated in both approved and GAAP accounting, is the acceptance of the allocation of premiums accounting anon accompanying to the asleep allocation of an allowance action for a accustomed advertisement period. The unexpired allocation of premiums accounting is referred to as unearned premiums, and represents the allocation of premiums accounting that would be alternate to a policyholder aloft abandoning of a policy.

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