United Fire Group Inc. - UFCS STOCK NEWS

United Fire Group (Nasdaq: UFCS) will release its 2022 third quarter earnings on November 2, 2022, after market close. An earnings call is scheduled for November 3, 2022, at 9:00 a.m. CT for analysts and shareholders. Investors can join the call via toll-free numbers and access the webcast on the company’s investor relations page. UFG, established in 1946, operates as a property and casualty insurer across the U.S., holding an 'A' rating from A.M. Best.

The Board of Directors of United Fire Group, Inc. (Nasdaq: UFCS) has declared a quarterly cash dividend of $0.16 per share, payable on September 16, 2022, to shareholders on record as of September 2, 2022. This marks the 218th consecutive quarterly dividend, reflecting UFG's long-standing commitment to returning value to shareholders since March 1968. UFG, established in 1946, operates as a property and casualty insurer across all 50 states and the District of Columbia, holding an A (Excellent) rating from A.M. Best.

United Fire Group (Nasdaq: UFCS) has announced the retirement of Executive Vice President and Chief Operating Officer Michael Wilkins, effective September 30, 2022. Wilkins, who has dedicated over four decades to UFG, is credited with significant contributions to the company's transformation into a national entity generating over $1 billion in annual revenue. Kevin Leidwinger has been appointed as the new President and CEO, effective August 22, succeeding Randy Ramlo. UFG continues to operate across all 50 states, maintaining a strong A.M. Best rating of 'A' (Excellent).

United Fire Group (Nasdaq: UFCS) reported a net loss of $10.5 million ($0.42 per diluted share) for Q2 2022, down from a net income of $13.8 million in Q2 2021. Year-to-date net income was $17.9 million ($0.70 per diluted share), compared to $32.5 million in 2021. Adjusted operating income for Q2 was $0.24 per diluted share, while year-to-date was $1.37. The GAAP combined ratio improved to 100.7% for Q2, showing a decrease in the net loss ratio. However, net investment losses totaled $20.9 million, a significant change from net gains of $6.0 million in Q2 2021.

United Fire Group (Nasdaq: UFCS) announced that its 2022 second quarter earnings results will be released on August 4, 2022, before the market opens. A teleconference will follow at 9:00 a.m. CT to discuss these results with analysts and shareholders. Participants can join via toll-free numbers or through the Company's investor relations page for a webcast. UFG, founded in 1946, operates as a property and casualty insurer in all 50 states and the District of Columbia, and holds an 'A' (Excellent) rating from A.M. Best Company.

United Fire Group, Inc. (Nasdaq: UFCS) announced the appointment of Kevin Leidwinger as its new President and CEO, effective August 22, 2022. Leidwinger boasts over 30 years of insurance experience, most recently serving as President and COO of CNA Commercial. He replaces Randy Ramlo, who has led the company since 2007 and is retiring. Leidwinger emphasized a commitment to long-term profitability, agency relationships, and diversified growth. The board praised Ramlo's 15 years of service and expressed confidence in Leidwinger's leadership for the future.

United Fire Group, Inc. (UFCS) held its Annual Meeting on May 18, 2022, where shareholders elected one Class C and four Class B Directors to its board. Mark Green was elected to a Class C position, while John-Paul Besong, Kyle Skogman, Matthew Foran, and James Noyce received Class B elections. The board now comprises 12 members following the retirement of Mary K. Quass. Additionally, the company ratified Ernst & Young LLP as its independent auditor for 2022 and approved the advisory compensation of named executives.

On May 18, 2022, United Fire Group, Inc. (Nasdaq: UFCS) announced a 6.7% increase in its quarterly cash dividend, now set at $0.16 per share. This dividend will be payable on June 17, 2022, to shareholders of record as of June 3, 2022. This marks the 217th consecutive quarterly dividend since March 1968, highlighting UFG's long-standing commitment to rewarding shareholders. The company operates as a property and casualty insurer across all 50 states and has a strong rating of A (Excellent) from A.M. Best Company.

United Fire Group (Nasdaq: UFCS) reported a significant increase in consolidated net income for Q1 2022, reaching $28.3 million ($1.12 per diluted share) compared to $18.7 million ($0.74 per diluted share) in Q1 2021. The adjusted operating income also rose to $1.13 per diluted share, reversing an operating loss from the previous year. The GAAP combined ratio improved to 89.5%, reflecting strong profitability initiatives. However, net premiums earned decreased by 9.6% to $234.2 million, primarily due to the non-renewal of underperforming accounts in the commercial auto sector.