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 (UFCS) provides property and casualty insurance through independent agents across multiple states. This news hub delivers official updates and analysis for stakeholders tracking the company's commercial lines, personal insurance offerings, and reinsurance strategies.
Access timely UFCS press releases covering earnings results, leadership appointments, product innovations, and regulatory developments. Our curated collection enables investors to monitor underwriting performance while analysts can assess market positioning within the competitive insurance sector.
Key updates on risk management practices, regional expansion initiatives, and actuarial developments are maintained here. Bookmark this page for verified information about UFCS operations, financial health, and strategic partnerships – essential for understanding this established insurer's evolving market role.
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.
United Fire Group, Inc. (Nasdaq: UFCS) will release its 2022 Q1 earnings results before market opening on May 5, 2022. A teleconference will follow at 9:00 a.m. CT for analysts and shareholders to discuss these results. Participants can join via toll-free numbers provided, and the event will be archived for replay until May 19, 2022. UFG, established in 1946, specializes in property and casualty insurance across 50 states. The company holds an 'A' (Excellent) rating from A.M. Best Company.
United Fire Group (Nasdaq: UFCS) has appointed Eric J. Martin as the new Chief Financial Officer, effective April 18, 2022. Martin brings over 29 years of experience in the financial sector, most recently serving at Transamerica. His extensive background includes leadership roles such as Chief Operating Officer and Senior Vice President. The appointment follows a comprehensive search for qualified candidates, and Randy A. Ramlo, President and CEO, expressed excitement about Martin joining the management team.
United Fire Group, Inc. (Nasdaq: UFCS) announced the appointment of Mark Green and Matthew Foran as new independent directors to its Board, effective February 18, 2022. Green, with a strong background in insurance, previously held executive roles at Kemper Corporation and Allstate. Foran, co-founder of Stoic Lane, Inc., brings significant experience in insurance technology. Both will stand for shareholder election at the Annual Meeting on May 18, 2022. Additionally, several individuals were appointed as assistant vice presidents, strengthening the company's leadership team.
United Fire Group announced the retirement of CEO Randy Ramlo effective October 31, 2022, after 15 years in the role. Ramlo joined UFG in 1984 and has been pivotal in the company's growth and strategic direction. He will remain until a successor is appointed and will assist in the transition process.
UFG, founded in 1946, specializes in property and casualty insurance, operating in all 50 states and Washington, D.C. The company is rated 'A' (Excellent) by A.M. Best.
The Board of Directors of United Fire Group (UFCS) has declared a quarterly cash dividend of $0.15 per share, payable on March 18, 2022, to shareholders of record as of March 4, 2022. This marks the company's 216th consecutive quarterly dividend since its inception in March 1968. UFG, founded in 1946, specializes in property and casualty insurance across the United States and has received an A (Excellent) rating from A.M. Best Company.
United Fire Group (Nasdaq: UFCS) reported strong financial results for Q4 and the full year 2021. Net income for Q4 reached $57.7 million ($2.28 per share), recovering from a loss of $8.9 million in Q4 2020. For the full year, net income was $80.6 million ($3.16 per share), compared to a significant loss of $112.7 million in 2020. The combined ratio improved to 83.1% in Q4, marking the lowest in over 14 years. Despite a strategic focus leading to an 8.9% decrease in net premiums earned, the company achieved an average renewal pricing increase of 6.4% for the year. Overall, UFG saw positive trends in profitability and reserve development.
