EXHIBIT 13(A)
SELECTED CONSOLIDATED FINANCIAL DATA
At December 31, 2002, Harleysville Group Inc. (Company) was approximately
56% owned by Harleysville Mutual Insurance Company (Mutual). Harleysville Group
Inc. and its wholly owned subsidiaries (collectively, Harleysville Group) are
engaged in property and casualty insurance. These subsidiaries are:
Harleysville-Atlantic Insurance Company (Atlantic), Harleysville Insurance
Company (HIC), Harleysville Insurance Company of New Jersey (HNJ), Harleysville
Insurance Company of New York (HIC New York), Harleysville Insurance Company of
Ohio (HIC Ohio), Harleysville Lake States Insurance Company (Lake States),
Harleysville Preferred Insurance Company (Preferred), Harleysville Worcester
Insurance Company (Worcester), Mid-America Insurance Company (Mid-America), and
Harleysville Ltd., a real estate partnership that owns the home office.
YEAR ENDED DECEMBER 31,
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2002 2001 2000 1999 1998
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(in thousands, except per share data)
INCOME STATEMENT DATA(1):
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Premiums earned $ 764,636 $ 729,889 $ 688,330 $ 707,200 $ 664,604
Investment income, net 86,265 85,518 86,791 85,894 86,025
Realized investment gains
(losses) (18,448) (3,071) 9,780 16,222 16,085
Total revenues 847,736 827,751 802,571 824,756 779,311
Income before income taxes 56,482 51,800 57,705 47,752 80,441
Income taxes 10,227 8,307 9,013 4,935 17,028
Net income 46,255 43,493 48,692 39,913 63,413
Basic earnings
per share $ 1.56 $ 1.49 $ 1.69 $ 1.37 $ 2.18
Diluted earnings
per share $ 1.53 $ 1.46 $ 1.67 $ 1.35 $ 2.15
Cash dividends
per share $ .63 $ .58 $ .55 $ .52 $ .48
BALANCE SHEET DATA AT YEAR END:
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Total investments $1,706,900 $1,611,144 $1,599,125 $1,604,022 $1,579,566
Total assets 2,311,524 2,045,290 2,021,862 2,020,056 1,934,497
Debt 95,620 96,055 96,450 96,810 97,140
Shareholders' equity 632,112 590,298 566,581 526,894 529,658
Shareholders' equity
per share $ 21.13 $ 20.05 $ 19.54 $ 18.29 $ 18.17
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(1) The Company's insurance subsidiaries participate in an underwriting
pooling arrangement with Mutual. Harleysville Group's participation was 72% for
all years presented. See "Management's Discussion and Analysis of Results of
Operations and Financial Condition" and Note 2(a) of the Notes to Consolidated
Financial Statements.
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