Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-34257 (Exact name of registrant as specified in its charter) Iowa 45-2302834 (State of incorporation) (I.R.S. Employer Identification No.) 118 Second Avenue S ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2019 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ______ to ______ Commission File Number 001-34257 UNITED FIRE GROUP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdictio ...

2019 FOURTH QUARTER & YEAR END EARNINGS CONFERENCE CALL FEBRUARY 18, 2020 | --- | --- | --- | --- | --- | |----------------------------------------------------------------------------------|----------|-----------------------------------|--------------------------|--------| | 2019 FOURTH QUARTER & YEAR END EARNINGS CONFERENCE CALL \nFinancial Highlights – | | 4Q 2019 & Year End 2019 | | | | | | | | | | | 4Q2019 | 4Q2018 | 2019 | 2018 | | | | | | | | Net income (loss) per diluted share | $ (0.93) | | $ (1.17) ...

United Fire Group, Inc. (NASDAQ:UFCS) Q4 2019 Earnings Conference Call February 18, 2020 10:00 AM ET Company Participants Randy Patten - Assistant Vice President & Controller Randy Ramlo - CEO Dawn Jaffray - CFO Mike Wilkins - COO Corey Ruehle - Chief Claims Officer Conference Call Participants Paul Newsome - Sandler O'Neill Operator Good morning and welcome to the UFG Insurance Fourth Quarter and Year-End 2019 Financial Results Conference Call. [Operator Instructions] Please note this event is being record ...

Financial Data and Key Metrics Changes - The company reported a consolidated net loss of $0.09 per diluted share and an adjusted operating loss of $0.40 per diluted share for Q3 2019, compared to a net income of $0.43 and adjusted operating income of less than $0.01 in Q3 2018 [6] - The GAAP combined ratio for Q3 2019 was 110%, up from 105.5% in the same period of 2018 [6][22] - Year-to-date consolidated net income was $38 million, down from $57 million in 2018 [17] Business Line Data and Key Metrics Changes - Catastrophe losses in Q3 2019 amounted to $19.3 million, an increase from $12.3 million in Q3 2018 [7] - The commercial auto line remains the largest business line, with significant reserve strengthening due to increased losses in Texas and Florida [8] - The average renewal pricing change for commercial lines increased to 7% in Q3 2019, driven by a 12.2% effective rate change in commercial auto [14][15] Market Data and Key Metrics Changes - The company experienced a 3.9% increase in net premiums earned for Q3 2019 and a 6.1% increase for the nine-month period [19] - The effective rate change for commercial auto was significantly higher than the industry average of 4% [14] Company Strategy and Development Direction - The company is focusing on improving profitability through strategic initiatives, including enhancing claims processing and implementing new predictive models for underwriting [11][12] - There is a plan to expand surety operations due to its strong performance [16] Management's Comments on Operating Environment and Future Outlook - Management noted that the increase in severity of losses is a challenge, particularly in commercial auto, influenced by social inflation and higher legal settlements [9][12] - The company is optimistic about improvements in underlying operations despite current challenges [11] Other Important Information - The expense ratio for Q3 2019 was 33%, up from 32.3% in Q3 2018, primarily due to fluctuations in expenses related to technology upgrades [24] - The company declared a cash dividend of $0.33 per share and repurchased 177,249 shares totaling $8.1 million in Q3 [26] Q&A Session Summary Question: Discussion on severity issues in commercial auto - Management indicated that severity issues have also affected umbrella policies and are seeing patterns of increasing jury awards in bodily injury claims [30] Question: Impact of accelerated claims process - Management acknowledged that an accelerated claims process could lead to short-term increases in claim payments but ultimately aims to reduce overall claim costs [32] Question: Changes in the reserving process for the fourth quarter - Management confirmed that the reserving process remains consistent throughout the year, with both internal and external actuarial reviews conducted at each quarter end [37]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-34257 ________________________ UNITED FIRE GROUP INC. (Exact name of registrant as specified in its charter) Iowa 45-2302834 (State of incorporation) (I.R ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-34257 ________________________ UNITED FIRE GROUP INC. (Exact name of registrant as specified in its charter) Iowa 45-2302834 (State of incorporation) (I.R.S. E ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-34257 ________________________ UNITED FIRE GROUP, INC. (Exact name of registrant as specified in its charter) Iowa 45-2302834 (State of incorporation) ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K [X] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2018 OR [ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ______ to ______ Commission File Number 001-34257 UNITED FIRE GROUP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdi ...