Welcome to our dedicated page for United Fire Group news (Ticker: UFCS), a resource for investors and traders seeking the latest updates and insights on United Fire Group stock.
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, 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.
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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.
United Fire Group (Nasdaq: UFCS) will hold one-on-one meetings at the AIFA Conference on March 2, 2021. Management will provide early estimates on performance measures for Q1 2021. The presentation will be available on their website at UFG Events.
Founded in 1946, UFG offers property and casualty insurance through its subsidiaries, licensed in 49 states and the District of Columbia. UFG holds an 'A' (Excellent) rating from A.M. Best Company.
The Board of Directors of United Fire Group, Inc. (Nasdaq: UFCS) has declared a quarterly cash dividend of $0.15 per share, to be paid on March 19, 2021, to shareholders of record as of March 5, 2021. This marks the 212th consecutive quarterly dividend since March 1968, affirming the company's commitment to returning value to shareholders. United Fire Group, founded in 1946, specializes in property and casualty insurance and is rated A (Excellent) by A.M. Best.
United Fire Group reported a consolidated net loss of $8.9 million ($0.36 per diluted share) for Q4 2020, an improvement from a loss of $23.2 million in Q4 2019. For the full year, net loss totaled $112.7 million ($4.50 per diluted share), contrasting with 2019's net income of $14.8 million. Key factors included a rise in catastrophe losses, totaling $231 million before reinsurance, and adverse impacts from social inflation. Despite these challenges, the company is optimistic about future profitability improvements through strategic initiatives.
United Fire Group, Inc. (Nasdaq: UFCS) reported unfavorable fourth quarter 2020 results impacted by social inflation, leading to an estimated GAAP combined ratio of 122% to 125%. The net loss per diluted share is projected between $0.35 to $0.37 and an adjusted operating loss of $1.28 to $1.32. For the full year, a GAAP combined ratio of 114% to 117% is anticipated, with a net loss per diluted share of $4.48 to $4.52. The company will announce detailed earnings on February 17, 2021, and discuss results during a 9:00 a.m. CT call.