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 (UFCS) announced the retirement of Chairman Jack B. Evans, effective after the Annual Meeting on May 19, 2021, in accordance with company bylaws. Evans has served for 26 years, including 12 years as chairman. UFG President Randy Ramlo praised Evans for his leadership and integrity, emphasizing the strong relationships he fostered within the board and with management. UFG has a solid foundation and plans to announce a new chairman soon. The company, founded in 1946, operates as a property and casualty insurer across 49 states and holds an 'A' rating from A.M. Best Company.
United Fire Group (UFCS) will release its 2020 fourth quarter and year-end earnings results on February 17, 2021, before market open. A teleconference for the earnings call will follow at 9:00 a.m. Central Time, allowing analysts and shareholders to discuss results. The call will be available for replay until March 3, 2021. UFG, founded in 1946, writes property and casualty insurance across 49 states and D.C., with an 'A' (Excellent) rating from A.M. Best.
The Board of Directors of United Fire Group, Inc. (Nasdaq: UFCS) has declared a quarterly cash dividend of $0.15 per share. This dividend will be payable on December 18, 2020, to shareholders of record as of December 4, 2020. This marks the 211th consecutive quarterly dividend since March 1968, reflecting UFG's commitment to returning value to shareholders. The company continues its strategy to diversify underwriting risks, ensuring robust capital requirements.
United Fire Group reported significant financial losses for Q3 2020, with a net loss of $37.2 million ($1.49 per diluted share), compared to a loss of $2.3 million in Q3 2019. Year-to-date, losses reached $103.8 million ($4.15 per diluted share), down from a profit of $38 million in 2019. Catastrophe losses totaled $55.4 million, impacting the combined ratio, which rose to 124.4%. Net premiums earned decreased by 5.8% in Q3 and 2.7% year-to-date. Despite these challenges, the company maintained a focus on improving commercial auto profitability.
United Fire Group (Nasdaq: UFCS) reported significant third quarter 2020 pre-tax catastrophe losses of $55.4 million, contributing 21.4 percentage points to the GAAP combined ratio, which is expected to be between 123% and 126%. This includes losses from 25 events, notably the August Midwest derecho, leading to total losses estimated at $88 million. The company anticipates a net loss of $1.48 to $1.50 per diluted share. Adjusted operating loss is projected at $1.35 to $1.39 per diluted share. Earnings will be reported on November 4, 2020.
United Fire Group, Inc. (UFCS) will release its 2020 third quarter earnings on November 4, 2020, before market open. A conference call for analysts and shareholders will follow at 9:00 a.m. central time on the same day. Participants can join the call using the provided toll-free numbers or access it via webcast on the company's investor relations page. The teleconference will be archived until November 18 for those unable to attend live. UFG is a licensed property and casualty insurer across 48 states and has an A.M. Best rating of 'A' (Excellent).
UFG Insurance will illuminate its American Building in red starting Oct. 1, in support of the Worth It campaign against distracted driving, aligning with Distracted Driving Awareness Month. The initiative, led by community relations coordinator Katie Jensen, aims to raise awareness as more drivers return to the roads during the pandemic. Activities include virtual presentations on Oct. 22, featuring survivor Shawn O'Brien, who shares personal experiences related to distracted driving. UFG emphasizes the importance of focused driving habits through this campaign.
The Board of Directors of United Fire Group (Nasdaq: UFCS) has declared a quarterly cash dividend of $0.33 per share. This dividend will be payable on September 18, 2020, to shareholders of record as of September 4, 2020. Founded in 1946, UFG operates through its insurance subsidiaries, providing property and casualty insurance in 46 states and the District of Columbia, supported by approximately 1,000 independent agencies. A.M. Best Company has assigned an A (Excellent) rating to UFG.
United Fire Group (Nasdaq: UFCS) reported a net income of $6.0 million ($0.24 per diluted share) for Q2 2020, a turnaround from a loss of $4.2 million in Q2 2019. Despite this positive quarter, a year-to-date net loss reached $66.6 million ($2.66 per diluted share), impacted by high catastrophe losses and decreasing premiums. Adjusted operating loss for Q2 was $0.26 per diluted share. The GAAP combined ratio improved to 111.4%, while book value per share is now $34.38. Catastrophe losses from 20 events weighed heavily on results, though commercial auto loss ratio showed improvement.
United Fire Group (Nasdaq: UFCS) will release its 2020 second quarter earnings results before market opening on August 5, 2020. A conference call is scheduled at 9:00 a.m. CST on the same day for securities analysts and shareholders to discuss the results. Dial-in numbers for the call are provided for both toll-free and international participants. The event will be archived for digital replay until August 19, 2020. Founded in 1946, UFG operates as a property and casualty insurer in 46 states, with an A.M. Best rating of 'A' (Excellent).