United Fire Group Inc
NASDAQ:UFCS
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United Fire Group Inc
United Fire Group, Inc. is a holding company, which engages in the business of writing property, casualty insurance, life insurance, and selling annuities through a network of independent agencies. The company is headquartered in Cedar Rapids, Iowa and currently employs 1,086 full-time employees. The firm operates in the property and casualty insurance segment. Its property and casualty insurance business are comprised of commercial lines insurance, including surety bonds, personal lines insurance and assumed reinsurance. Its commercial lines insurance includes other liability, construction defect losses, commercial fire and allied lines, commercial automobile, workers' compensation, and fidelity and surety. Its personal lines consist primarily of fire and allied lines, including homeowners, and automobile lines. Its other liability is business insurance covering bodily injury and property damage arising from general business operations, accidents on the insured's premises and products manufactured or sold. Its construction defect claims generally relate to allegedly defective work performed in the construction of structures.
United Fire Group, Inc. is a holding company, which engages in the business of writing property, casualty insurance, life insurance, and selling annuities through a network of independent agencies. The company is headquartered in Cedar Rapids, Iowa and currently employs 1,086 full-time employees. The firm operates in the property and casualty insurance segment. Its property and casualty insurance business are comprised of commercial lines insurance, including surety bonds, personal lines insurance and assumed reinsurance. Its commercial lines insurance includes other liability, construction defect losses, commercial fire and allied lines, commercial automobile, workers' compensation, and fidelity and surety. Its personal lines consist primarily of fire and allied lines, including homeowners, and automobile lines. Its other liability is business insurance covering bodily injury and property damage arising from general business operations, accidents on the insured's premises and products manufactured or sold. Its construction defect claims generally relate to allegedly defective work performed in the construction of structures.
Record Net Income: UFG reported third quarter net income of $39.2 million, nearly double the prior year and the highest for the quarter in at least 20 years.
Strong Underwriting: The combined ratio improved to 91.9%, marking the best third quarter underwriting result in nearly two decades.
Premium Growth: Net written premium reached a third quarter record of $328 million, with 7% growth led by core commercial business, which grew 22%.
Return on Equity: Year-to-date return on equity was 12.7%, the best in almost 20 years.
Investment Income: Net investment income rose 17% year-over-year, aided by higher yields and portfolio repositioning.
Expense Control: The expense ratio improved by 1.3 points to 34.6%, reflecting disciplined management.
Capital Management: No changes to capital management strategy; focus remains on growth and maintaining the dividend.
Outlook: Management expressed confidence in sustaining momentum into year-end and 2026, emphasizing strong underwriting and strategic positioning.
