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, 2023 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) (State of incorporation) (I.R.S. Employer ...

United Fire Group, Inc. (NASDAQ:UFCS) Q2 2023 Earnings Conference Call August 8, 2023 10:00 AM ET Company Participants Tim Borst - AVP and Director of Investor Relations Kevin Leidwinger - CEO Eric Martin - Executive Vice President and Chief Financial Officer Julie Stephenson - Chief Operating Officer Conference Call Participants Paul Newsome - Piper Sandler Corey Wrenn - Pecaut Wealth Management Operator Good morning. My name is Chuck, and I'll be your conference operator today. At this time, I would like ...

SECOND QUARTER 2023 RESULTS AUGUST 8, 2023 Safe harbor statement and non-GAAP measures This presentation may contain forward-looking statements about our operations, anticipated performance and other similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor under the Securities Act of 1933 and the Securities Exchange Act of 1934 for forward-looking statements. The forward-looking statements are not historical facts and involve risks and uncertainties that could cause actua ...

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, 2023 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) (I.R. ...

United Fire Group, Inc. (NASDAQ:UFCS) Q1 2023 Earnings Conference Call May 5, 2023 12:00 AM ET Company Participants Eric Martin - Executive Vice President and Chief Financial Officer Kevin Leidwinger - CEO Julie Stephenson - Chief Operating Officer, Conference Call Participants Paul Newsome - Piper Sandler Operator Good morning, and welcome to the United Fire Group, Incorporated First Quarter 2023 Results Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like t ...

FIRST QUARTER 2023 RESULTS MAY 9, 2023 Safe harbor statement and non-GAAP measures This presentation may contain forward-looking statements about our operations, anticipated performance and other similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor under the Securities Act of 1933 and the Securities Exchange Act of 1934 for forward-looking statements. The forward-looking statements are not historical facts and involve risks and uncertainties that could cause actual re ...

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, 2023 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) (I.R ...

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, 2022 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 ...

Financial Data and Key Metrics Changes - Net written premium increased by 6.3% to $235 million in Q4 2022 compared to $221 million in Q4 2021, marking the third consecutive quarter of growth [4] - For the full year 2022, net written premium rose by 4.6% to $984 million from $941 million in 2021 [6] - The combined ratio for Q4 2022 was 103.6%, impacted by 5 points of catastrophe loss activity and 5 points of adverse development [4][9] - The underlying combined ratio improved to 93.8% in Q4 2022, while the full year underlying combined ratio was 93.6%, a 3.4 point improvement over the previous year [5][6] Business Line Data and Key Metrics Changes - Specialty, surety, and assumed reinsurance businesses drove growth, while the core commercial business saw a slight decline [4] - New business in Q4 increased by 55%, and retention improved by 7 points compared to Q4 2021 [8] - The average renewal premium change for the core commercial business was 8.3% for the year, with rate increases of 5.2% and exposure increases of 3.1% [13] Market Data and Key Metrics Changes - The full year catastrophe loss ratio was 7.7%, a 2.5 point improvement compared to 2021 [14] - The company experienced increased costs in reinsurance, with property cat XOL premium increasing by 54% on a risk-adjusted basis [21] Company Strategy and Development Direction - The company is focused on diversifying its portfolio, improving underlying fundamentals, and reducing the expense ratio, which fell to 33.8% in Q4 2022 [5][6] - A strategic decision was made to add a variable quota-share treaty to support growth and reduce volatility in the specialty portfolio [7] - The company aims to aggressively improve its expense ratio and is focused on property rate increases in response to rising reinsurance costs [14][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver consistent superior financial and operational performance despite industry challenges [7] - The management team emphasized a cautious approach to reserve development, focusing on a more granular analysis of long-tail liabilities [16][17] Other Important Information - The company welcomed Julie Stephenson as Executive Vice President and Chief Operating Officer, bringing extensive operational and underwriting experience [8] - Net investment income for Q4 was $12.9 million, relatively flat compared to Q4 2021, with a 19% increase in fixed maturity income [12][15] Q&A Session Summary Question: Details on reserve development in recent quarters - Management indicated no change in philosophy but noted a deeper analysis of long-tail businesses due to inflationary pressures and emerging claims [16][17] Question: Is the granular approach to reserves finished? - Management stated that while significant work has been done on long-tail lines, they will continue to seek granular insights [18] Question: Impact of reinsurance costs and assumed reinsurance - Management confirmed pricing increases across the reinsurance portfolio, with specific increases in property cat XOL and earthquake quota-share programs [21][22] Question: Target for the reinsurance book relative to the rest of the portfolio - The target for the reinsurance book is about 25% of the portfolio, with management being opportunistic in capturing market opportunities [29]

United Fire Group, Inc. (NASDAQ:UFCS) Q3 2022 Results Conference Call November 3, 2022 10:00 AM ET Company Participants Eric Martin - Senior Vice President and Chief Financial Officer Kevin Leidwinger - Chief Executive Officer Conference Call Participants Operator Good morning. My name is Jordan, and I'll be your conference operator today. At this time, I would like to welcome everyone to the UFG Insurance Third Quarter of 2022 Financial Results Conference Call. [Operator Instructions] I will now turn the c ...