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 (UFCS) announces the retirement of Neal Scharmer, Vice President, General Counsel, effective March 31, 2022, after over 40 years in law, with more than 20 years in his current role. Scharmer, who joined UFG in 1995, played a crucial role in guiding the company through litigation, acquisitions, and natural disasters. Sarah Madsen has been promoted to Chief Legal Officer, also effective March 31, 2022. Madsen, a former Assistant General Counsel, has enhanced UFG's operations and will oversee legal and compliance matters moving forward.
Mary K. Quass will retire from the Board of Directors of United Fire Group (UFCS) effective immediately after the Annual Meeting of Shareholders on May 18, 2022. Her resignation complies with UFG's bylaws regarding directors reaching the age of 72. UFG President and CEO Randy Ramlo acknowledged her strong leadership and contributions over the last decade, particularly as chair of the compensation committee. Board Chairman James Noyce also commended her invaluable experience. UFG has been writing property and casualty insurance since 1946, rated 'A' by A.M. Best.
United Fire Group will release its 2021 fourth quarter and year-end earnings results on February 15, 2022, before market opening. An earnings call is scheduled for 9:00 a.m. CT on the same day, allowing stakeholders to hear from management regarding these results. The call will be accessible via a toll-free number and will be archived for playback until March 1, 2022. Founded in 1946, UFG is a property and casualty insurer licensed in all 50 states and rated A (Excellent) by A.M. Best.
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and Long-Term Issuer Credit Rating (ICR) of 'a' (Excellent) for United Fire Group (UFCS) and its property/casualty subsidiaries, indicating strong balance sheet strength. However, the outlook for these ratings is negative, reflecting execution risks in their strategic plan to enhance operational performance amidst competitive conditions. Key factors include solid risk-adjusted capitalization and diversified products, offset by variability in underwriting results and exposure to catastrophe events.
United Fire Group (Nasdaq: UFCS) has declared a quarterly cash dividend of $0.15 per share, to be paid on December 17, 2021, to shareholders of record as of December 3, 2021. This marks the company's 215th consecutive quarterly dividend, reflecting its strong commitment to returning value to shareholders since March 1968. UFG operates in the property and casualty insurance industry and is licensed in 50 states and the District of Columbia, maintaining a rating of A (Excellent) from A.M. Best Company.
United Fire Group reported a net loss of $9.6 million ($0.38 per diluted share) for Q3 2021, an improvement from a loss of $37.2 million in Q3 2020. Year-to-date, net income reached $22.9 million ($0.90 per diluted share), significantly up from a loss of $103.8 million in 2020. The GAAP combined ratio decreased to 109.7% from 124.4%. Despite lower net premiums earned, net investment income rose to $11.6 million, up from $7.2 million. The company declared a $0.15 per share dividend and repurchased 36,417 shares.
United Fire Group (Nasdaq: UFCS) reported a significant financial impact for Q3 2021, citing pre-tax catastrophe losses of $39.5 million, which contributed 16.5 percentage points to its GAAP combined ratio. The company estimates its combined ratio for the quarter will range from 108% to 112%, higher than the 10-year average of 9.2 percentage points. Forecasted losses are projected between $0.36 and $0.40 per diluted share. The results highlight the effect of 19 catastrophe events, particularly Hurricane Ida, exceeding the company's reinsurance retention of $20 million.
United Fire Group, Inc. (Nasdaq: UFCS) will release its third quarter earnings results on November 4, 2021, before market opening. A teleconference is scheduled for 9:00 a.m. CT for analysts and shareholders to discuss the results. Dial-in for the call is toll-free at 1-844-492-3723. The event will be archived until November 18, 2021, along with a webcast available on the company's investor relations page. Founded in 1946, UFG specializes in property and casualty insurance, holding an 'A' (Excellent) rating from A.M. Best Company.
United Fire Group (NASDAQ:UFCS) announced the resignation of Dawn M. Jaffray, Executive Vice President and CFO, effective October 10, 2021, as she moves to a new opportunity in the insurance sector. In response, UFG appointed Kevin W. Helbing and Randy L. Patten as Interim Co-CFOs while they search for a permanent replacement. Both interim CFOs possess extensive experience within UFG, contributing to a smooth transition of financial responsibilities. Jaffray's tenure included significant projects that enhanced UFG's standing in the industry.
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.
