United Fire Group, Inc. reports developments tied to its property and casualty insurance business, which writes coverage through insurance company subsidiaries and independent agencies. UFG's recurring updates center on commercial lines production, renewal pricing, retention, new business, assumed reinsurance, catastrophe losses, prior-year reserve development and underwriting profitability measured through the combined ratio.
Company news also covers quarterly earnings calls, net investment income from the insurance portfolio, book value measures, common-stock dividends and credit-rating actions affecting United Fire & Casualty Group and the holding company. The company was founded in 1946 as United Fire & Casualty Company and is licensed as a property and casualty insurer across the United States and the District of Columbia.
United Fire Group (Nasdaq: UFCS) announced a quarterly cash dividend of $0.15 per share, payable on September 17, 2021 to shareholders on record as of September 3, 2021. This dividend marks the 214th consecutive quarter of dividend payments, continuing a tradition dating back to March 1968. UFG is a property and casualty insurer licensed in all 50 states and the District of Columbia, supported by around 1,000 independent agencies. The company holds an A (Excellent) rating from A.M. Best.
United Fire Group (Nasdaq: UFCS) reported a net income of $13.8 million ($0.54 per diluted share) for Q2 2021, up from $6.0 million ($0.24 per diluted share) in Q2 2020. Year-to-date, net income reached $32.5 million ($1.28 per diluted share), reversing a loss of $66.6 million in 2020. Adjusted operating income improved to $0.35 per diluted share for Q2 2021. Notably, net premiums earned decreased by 14.8% for Q2 and 9.1% year-to-date due to strategic non-renewals. The GAAP combined ratio improved to 100.8%, reflecting enhanced profitability, driven primarily by lower catastrophe losses and a decline in commercial auto liability losses.
United Fire Group (UFCS) will release its 2021 second quarter earnings on August 4, 2021, before market opening. A teleconference for discussing results will be held at 9:00 a.m. central time, with toll-free and international dial-in options provided. Archived audio will be available until August 18, 2021. UFG has been rated 'A' (Excellent) by A.M. Best and is licensed in all 50 states. For investor relations and further information, visit their official site.
United Fire Group, Inc. (UFCS) announced the election of three new Class C Directors during its 2021 Annual Meeting on May 19, 2021. Elected directors include Christopher R. Drahozal, Lura E. McBride, and George D. Milligan, each serving three-year terms. The meeting also marked the retirement of long-serving Chairman Jack B. Evans, with James W. Noyce succeeding him. Shareholders approved the 2021 Stock and Incentive Plan and ratified Ernst & Young LLP as the independent auditor for 2021.
United Fire Group, Inc. (Nasdaq: UFCS) declared a quarterly cash dividend of $0.15 per share, payable on June 18, 2021, to shareholders of record as of June 4, 2021. This marks the 213th consecutive quarterly dividend since March 1968, highlighting the company's commitment to returning value to its shareholders. UFG, founded in 1946, engages in property and casualty insurance across all 50 states and D.C. It holds an A rating from A.M. Best for financial strength.
United Fire Group (UFCS) reported a net income of $18.7 million ($0.74 per diluted share) for Q1 2021, reversing a net loss of $72.5 million in Q1 2020. This increase was largely due to net realized investment gains of $24.5 million and improved net investment income, which surged to $17.1 million.
However, the company faced challenges, including a GAAP combined ratio of 107.2% and increased catastrophe losses, notably from winter storm Uri. Book value per share stood at $32.79, down 0.4% from the previous quarter.
United Fire Group (Nasdaq: UFCS) reported estimated pre-tax catastrophe losses of $29 million for Q1 2021, primarily due to winter storm Uri. These losses exceeded the company's reinsurance retention limit of $20 million. The official earnings report will be released on May 5, 2021, followed by a conference call at 9:00 a.m. CT.
United Fire Group, Inc. (Nasdaq: UFCS) will release its 2021 first quarter earnings results on May 5, 2021, prior to market opening. A teleconference for analysts and shareholders will follow at 9:00 a.m. central time to discuss these results. The event will be archived for replay until May 19, 2021. UFG has maintained an 'A' (Excellent) rating from A.M. Best and operates across 50 states and the District of Columbia through its insurance subsidiaries, serving approximately 1,000 independent agencies.
Summary not available.
United Fire Group (Nasdaq: UFCS) announced its participation in the Sidoti & Company Virtual Investor Conference on March 24-25, 2021. UFG's management will present on March 24 at 3:15 PM ET. Attendees can access a live webcast and presentation materials on the UFG website, along with an interactive Q&A session. UFG, founded in 1946, specializes in property and casualty insurance, operating in 50 states and the District of Columbia, with an 'A' (Excellent) rating from A.M. Best.