United Fire Group, Inc. Reports on Annual Meeting of Shareholders

Rhea-AI Summary

United Fire Group (Nasdaq: UFCS) announced the election of four Class C Directors at its Annual Meeting of Shareholders on May 15, 2024. The newly elected directors are Mark A. Green, Christopher R. Drahozal, Lura E. McBride, and George D. Milligan, each to serve a three-year term expiring in 2027. Additionally, shareholders ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for 2024 and approved the compensation of the company's named executive officers.

Positive

• Four qualified individuals elected to the board, ensuring diverse expertise.
• Appointment of Ernst & Young LLP as the independent public accounting firm enhances financial transparency.
• Approval of executive compensation indicates shareholder satisfaction with management.

Negative

• No financial data or performance metrics were provided in the announcement.
• The press release lacked details on strategic plans or future business outlook.

• Director Elections to the Board of Directors Announced

Director Elections to the Board of Directors

CEDAR RAPIDS, Iowa, May 16, 2024 (GLOBE NEWSWIRE) -- United Fire Group, Inc. (Nasdaq: UFCS) (the "Company" or "UFG") announced today that its shareholders elected four Class C Directors to our 11-member board of directors at the 2024 Annual Meeting of Shareholders held on May 15, 2024.

The following individuals were each elected as Class C Directors to serve three-year terms expiring in 2027.

• Mark A. Green, Operating Partner at Vistria Group;
• Christopher R. Drahozal, Professor of Law at the University of Kansas Law School;
• Lura E. McBride, President and Chief Executive Officer of Van Meter Inc.; and
• George D. Milligan, President of The Graham Group, Inc.

In other official business, our shareholders:

• ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for 2024; and
• approved, on an advisory basis, the compensation of the Company's named executive officers..

About UFG

Founded in 1946 as United Fire & Casualty Company, UFG, through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance.

Through our subsidiaries, we are licensed as a property and casualty insurer in 50 states, plus the District of Columbia, and we are represented by approximately 1,000 independent agencies.

For more information about UFG visit www.ufginsurance.com.

Contact: Investor Relations at IR@unitedfiregroup.com

 

FAQ

Who were the Class C Directors elected to the UFCS Board in 2024?

Mark A. Green, Christopher R. Drahozal, Lura E. McBride, and George D. Milligan were elected as Class C Directors to the UFCS Board in 2024.

When was the UFCS Annual Meeting of Shareholders held in 2024?

The UFCS Annual Meeting of Shareholders was held on May 15, 2024.

Which company was ratified as the independent registered public accounting firm for UFCS in 2024?

Ernst & Young LLP was ratified as the independent registered public accounting firm for UFCS in 2024.

Did UFCS shareholders approve the executive compensation in 2024?

Yes, UFCS shareholders approved the compensation of the company's named executive officers in 2024.