EMC Insurance Group Inc. reported a net loss of $5 million, or 24 cents per share, for the second quarter, compared with net income of $5.5 million, or 26 cents per share, for the year-ago quarter. For the six months ended June 30, the Des Moines-based property/casualty insurer reported a net loss of $5.1 million, or 24 cents per share, compared with net income of $12.3 million, or 58 cents per share, in the first half of 2017. Included in those net losses are declines in unrealized investment gains on EMC’s equity investments as required by updated accounting guidance adopted by the company on Jan. 1. Excluding these amounts, the primary driver of the declines in net income reported for the second quarter and first six months of 2018 is a high level of non-catastrophe losses in the property and casualty insurance segment, partially offset by strong results in the reinsurance segment.