EMC Insurance Group Inc. Announces Expected Gain on the Sale of Shares of Verisk Analytics, Inc.

• Press Release
• Source: EMC Insurance Group Inc.
• On 1:00 pm EDT, Monday October 12, 2009

DES MOINES, Iowa--(BUSINESS WIRE)--EMC Insurance Group Inc. (Nasdaq:EMCI - News) (the “Company”) today announced that it expects to record an after-tax realized gain of approximately $14.6 million, or $1.10 per share, in the fourth quarter on the sale of its common stock investment in Verisk Analytics, Inc. (“Verisk”). Verisk (formerly known as Insurance Services Office, Inc.) completed its Initial Public Offering on October 7, 2009. In conjunction with that IPO, the Company sold 100% of its holdings of Verisk (1,064,100 shares) at a price of $21.12 per share ($22.00 sales price less a 4% underwriters’ fee).

Related Quotes

Symbol	Price	Change
EMCI	21.74	-0.08

{"s" : "emci","k" : "c10,l10,p20,t10","o" : "","j" : ""}

EMC Insurance Group Inc., the publicly-held insurance holding company of EMC Insurance Companies, owns subsidiaries with operations in property and casualty insurance and reinsurance. EMC Insurance Companies is one of the largest property and casualty groups in Iowa and among the top 60 insurance groups nationwide based on premium volume. For more information, visit our website.

The Private Securities Litigation Reform Act of 1995 provides issuers the opportunity to make cautionary statements regarding forward-looking statements. Accordingly, any forward-looking statement contained in this report is based on management’s current beliefs, assumptions and expectations of the Company’s future performance, taking into account all information currently available to management. These beliefs, assumptions and expectations can change as the result of many possible events or factors, not all of which are known to management. If a change occurs, the Company’s business, financial condition, liquidity, results of operations, plans and objectives may vary materially from those expressed in the forward-looking statements. The risks and uncertainties that may affect the actual results of the Company include, but are not limited to, the following:

• catastrophic events and the occurrence of significant severe weather conditions;
• the adequacy of loss and settlement expense reserves;
• state and federal legislation and regulations;
• changes in the property and casualty insurance industry, interest rates or the performance of financial markets and the general economy;
• rating agency actions;
• “other-than-temporary” investment impairment losses; and
• other risks and uncertainties inherent to the Company’s business, including those discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K.

Management intends to identify forward-looking statements when using the words “believe”, “expect”, “anticipate”, “estimate”, “project” or similar expressions. Undue reliance should not be placed on these forward-looking statements.

EMC Insurance Group Inc.
(Investors)
Anita Novak, 515-345-2515
or
(Media)
Lisa Hamilton, 515-345-7589