United Fire Group Inc - UFCS STOCK NEWS

United Fire Group (UFG) has announced a quarterly cash dividend of $0.16 per share for its common stock shareholders. The dividend will be paid on March 21, 2025, to shareholders of record as of March 7, 2025. This marks the company's 228th consecutive quarterly dividend payment, maintaining a dividend distribution tradition that dates back to March 1968.

United Fire Group (UFCS) reported strong financial results for Q4 and full year 2024. Q4 net income increased to $31.4 million ($1.21 per share) from $19.6 million year-over-year, with net investment income up 21.2% to $23.2 million. The combined ratio improved 4.8 points to 94.4%.

Full year 2024 highlights include net income of $62.0 million, net investment income growth of 37.5% to $82.0 million, and a 10.1-point improvement in combined ratio to 99.2%. Net written premiums reached a historic high, increasing 15% to $1.2 billion. Book value per share rose to $30.80, while adjusted book value per share increased to $33.64.

The company achieved the best annual combined ratio and highest adjusted operating income since 2015, driven by strong renewal premium increases averaging 11.9% in core commercial business, improved underwriting results, and higher investment returns. UFG estimates losses of $7-10 million from Southern California wildfires.

United Fire Group (UFCS) has scheduled its 2024 fourth quarter earnings release for Tuesday, February 11, 2025, after market close. The company will host an earnings call on Wednesday, February 12, 2025, at 9:00 a.m. central time.

Interested parties can access the teleconference through toll-free number 1-844-492-3723 (international: 1-412-542-4184). A digital replay will be available until February 19, 2025, accessible via 1-877-344-7529 (international: 1-412-317-0088) with access code 4765665.

The webcast will be available on UFG's investor relations page, with an archived version accessible for one year. UFG, founded in 1946, operates in property and casualty insurance across all 50 states and DC, working with approximately 1,000 independent agencies and maintaining an A.M. Best rating of 'A-' (Excellent).

United Fire Group (UFG) has announced a quarterly cash dividend of $0.16 per share for its common stock. The dividend will be paid on December 13, 2024, to shareholders of record as of November 29, 2024. This marks UFG's 227th consecutive quarterly dividend payment, maintaining a dividend distribution tradition that began in March 1968.

United Fire Group (UFCS) reported strong Q3 2024 results with net income increasing to $19.7 million ($0.76 per share) from $6.4 million year-over-year. Key highlights include a 23% increase in net premiums written to $305.6 million, a 49% rise in net investment income to $24.5 million, and an improved GAAP combined ratio of 98.2%. The company achieved significant growth in core commercial business with average renewal premium increases exceeding 12% and rate increases of 11.2%. Book value per share increased to $31.01, and the underlying loss ratio improved to 57.9%, reflecting stronger core performance and lower catastrophe losses.

United Fire Group (UFG) (Nasdaq: UFCS) has announced its 2024 third quarter earnings call schedule. The earnings results will be released after market close on Tuesday, November 5, 2024. An earnings call will follow on Wednesday, November 6, 2024, at 9:00 a.m. central time.

Interested parties can join the teleconference using the toll-free number 1-844-492-3723 (international: 1-412-542-4184). The call will be archived for digital replay until November 13, 2024. A webcast of the teleconference will be available on UFG's investor relations page, and a transcript will be posted on the company's website after the call.

UFG, founded in 1946, is a property and casualty insurer licensed in 50 states and the District of Columbia, represented by about 1,000 independent agencies. A.M. Best Company rates UFG's insurance subsidiaries as 'A-' (Excellent).

United Fire Group (Nasdaq: UFCS) has declared a quarterly cash dividend of $0.16 per share on its common stock. The dividend will be paid on September 13, 2024, to shareholders of record as of August 30, 2024. This marks the 226th consecutive quarterly dividend paid by UFG, demonstrating a long-standing commitment to shareholder returns dating back to March 1968. The consistent dividend payment highlights UFG's financial stability and dedication to providing regular income to its investors over the past 56 years.

AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" (Excellent) for the property/casualty subsidiaries of United Fire Group, Inc. (UFG) [NASDAQ: UFCS]. The outlook for these ratings is stable. The ratings reflect United Fire & Casualty Group's very strong balance sheet strength, marginal operating performance, neutral business profile, and appropriate enterprise risk management.

The stable outlook is based on AM Best's expectation of stabilization in the group's operating performance and balance sheet strength. The group benefits from a well-established position in core markets, offering diversified commercial lines products. However, it remains exposed to potential catastrophe and weather-related losses.

United Fire Group (UFCS) reported a net loss of $2.7 million ($0.11 loss per diluted share) for Q2 2024. Key highlights include:

- Net premiums written increased 9.0% to $326.1 million
- Net investment income rose 59.2% to $18.0 million
- GAAP combined ratio improved 27.4 points to 105.6%
- Underlying combined ratio improved 4.8 points to 94.4%

The company faced challenges, including a $3.2 million pre-tax charge for an estimated contingent liability related to rating errors. Despite this, UFG saw improvements in underlying profitability and continued premium growth. The company remains focused on executing its strategic business plan to drive further performance improvements.