Harleysville Group Inc. Reports Third Quarter 2010 Results: EPS of $0.76

Harleysville Group Inc. HGIC today reported diluted operating income of $0.76 per share for the third quarter of 2010, compared to $0.83 per share in the third quarter of 2009. Catastrophe losses incurred during the third quarter of 2010 reduced operating income by $0.09 per share after taxes, compared to catastrophe losses of $0.02 per share in the third quarter of 2009. For the nine-month periods, the company reported diluted operating income of $1.64 per share in 2010 and $2.17 per share in 2009. Catastrophe losses incurred during the first nine months of 2010 reduced operating income by $0.76 per share after taxes, compared to catastrophe losses of $0.14 per share in the first nine months of 2009. Operating income is a non-GAAP financial measure defined by the company as net income excluding after-tax realized gains and losses on investments. See below for the company's reported GAAP net income.