EMC Insurance Group Inc. provided earnings guidance for the year ended December 31, 2015. For the period, the company expects to report operating income in the range of $2.21 to $2.26 per share. These results are significantly better than the company's most recent guidance, which anticipated operating income in the range of $1.80 to $2.00 per share.

The increase in guidance is primarily attributed to the reinsurance segment, which is expected to report a 71.0% fourth quarter GAAP combined ratio that is much lower than previously anticipated. This better than expected result is primarily driven by an increase in the amount of favorable development experienced on prior accident year reserves and a low level of large losses.