Exhibit 2

Dechert LLP
October 23, 2013
Cira Centre
2929 Arch Street
Philadelphia, PA 19104-2808
+1 215 994 4000 Main
www.dechert.com
+1 215 994 2222 Fax
JOSEPH A. TATE
joseph.tate@dechert.com
+1 215 994 2350 Direct
+1 215 655 2350 Fax
VIA E-MAIL & FEDERAL EXPRESS
J. Victor Peterson, Esquire
Lathrop & Gage LLP
155 North Wacker Drive
Suite 3050
Chicago, IL 60606
Re: Donegal Mutual Insurance Company
Dear Mr. Peterson:
We are special counsel to the Board of Directors of Donegal Mutual Insurance Company. In that
capacity, we have counseled the Board as they considered the proposal outlined in Mr. Shepard’s
letter dated October 7, 2013.
After due consideration, the Board unanimously rejected Mr. Shepard’s proposal, determining
that it is contrary to the interests of Donegal Mutual, its policyholders and its other constituencies.
The Board reaffirmed that it is firmly committed to pursuing Donegal Mutual’s current business
strategy as an independent mutual insurance company and determined that Mr. Shepard’s
proposal merits no further consideration by Donegal Mutual.
Sincerely,
Joseph A. Tate
JAT/dt