Overview of Vanguard's Recent Transaction On September 30, 2024, Vanguard Group Inc executed a significant transaction involving the shares of United Fire Group Inc (UFCS, Financial), a noted player in the property and casualty insurance sector. The firm reduced its holdings by 300,293 shares, resulting in a new total of 1,336,649 shares. This move, marked at a trading price of $20.93 per share, reflects a strategic adjustment in Vanguard's investment portfolio, despite the trade having a neutral impact on ...

Group 1 - United Fire Group, Inc. (UFG) declared a quarterly cash dividend of $0.16 per share, payable on September 13, 2024, to shareholders of record as of August 30, 2024 [1] - This marks the 226th consecutive quarterly dividend paid by UFG, with a history dating back to March 1968 [1] Group 2 - UFG was founded in 1946 as United Fire & Casualty Company and operates through its insurance company subsidiaries in the property and casualty insurance sector [2] - The company is licensed as a property and casualty insurer in all 50 states and the District of Columbia, represented by approximately 1,000 independent agencies [3] - A.M. Best Company assigns an "A-" (Excellent) rating to members of the United Fire & Casualty Group [3]

United Fire Group (UFCS) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $2.27 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -75%. A quarter ago, it was expected that this property and casualty insurance company would post earnings of $0.55 per share when it actually produced earnings of $0.56, delivering a surprise of 1.82%. Over the last fo ...

Teleconference: Dial-in information for the call is toll-free 1-844-492-3723 (international 1-412-542-4184). Participants should request to join the United Fire Group call. The event will be archived and available for digital replay through August 14, 2024. The replay access information is toll-free 1-877-344-7529 (international 1-412-317-0088); access code no. 9685737. About UFG: For more information about UFG visit www.ufginsurance.com. CEDAR RAPIDS, Iowa, July 23, 2024 (GLOBE NEWSWIRE) -- United Fire Gro ...

Core Viewpoint - United Fire Group, Inc has successfully completed a $70 million placement of senior unsecured notes to support growth and general corporate purposes [1][2] Group 1: Financial Details - The notes have a principal amount of $70 million and an interest rate of 9.0%, maturing on May 31, 2039 [1] - Proceeds from the offering will be utilized for anticipated growth and general corporate purposes [1] Group 2: Investor Relations - Ares Management Credit funds acted as the lead investor in the private offering [1] - Stonybrook Capital, LLC served as the exclusive financial advisor for the offering [2] Group 3: Company Background - United Fire Group, Inc is a property and casualty insurance holding company, founded in 1946 [6] - The company operates through its subsidiaries, which are licensed in all 50 states and the District of Columbia [7] - A.M. Best Company assigns a rating of "A-" (Excellent) to members of the United Fire & Casualty Group [7]

CEDAR RAPIDS, Iowa, June 03, 2024 (GLOBE NEWSWIRE) -- United Fire Group, Inc (the "Company" or "UFG") (NASDAQ: UFCS), a property and casualty insurance holding company, today announced that it has successfully completed a placement of $70 million aggregate principal senior unsecured 9.0% notes due May 31, 2039 (the "Notes") in a private offering (the "Offering") with Ares Management Credit funds as the lead investor. Proceeds from the Offering will be used to support anticipated growth and for general corpo ...

Financial Data and Key Metrics Changes - Net income increased to $13.5 million, driven by improved underwriting results and higher investment income [9] - Net written premium grew 17.6% to $321 million, led by core commercial and assumed reinsurance business [9] - The first quarter combined ratio improved 4 points to 98.9%, the lowest over the past 8 quarters [10] - Underlying loss ratio improved to 59.4%, reflecting continued underwriting and pricing discipline [10] - Investment income increased 28.5% to $16.3 million, benefiting from reinvesting at higher interest rates [11] Business Line Data and Key Metrics Changes - Net written premium in core commercial business grew 12% to $223 million [12] - Renewal premium change in core commercial business was 10.9%, with rates up 9% [12] - Specialty excess and surplus lines net written premiums declined approximately $1 million as the portfolio is repositioned for sustainable profitability [14] - Commercial property premium change exceeded 20% with rate achievement at 16.5% [28] - Surety net written premium declined slightly as the company reinforced underwriting discipline [30] Market Data and Key Metrics Changes - The expense ratio improved to 34.9%, reflecting diligent cost management [26] - Catastrophe losses contributed 4.6% to the combined ratio, in line with the same period last year [26] - Retention in small business remained consistent at 80% [29] Company Strategy and Development Direction - The company completed a strategic reallocation of public equity assets into fixed maturities [27] - Focus on profitability through an average renewal premium increase and attractive new business opportunities [25] - Emphasis on price adequacy across the portfolio, particularly in general liability due to inflationary pressures [28] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the first quarter results and the momentum carried from 2023 [9] - The company is well positioned to deliver improved long-term performance through strategic initiatives [27] - Management noted that favorable development in property, workers' compensation, and surety will strengthen reserve positions [32] Other Important Information - Total invested assets and cash ended the first quarter at $1.9 billion [33] - Net income per diluted share was $0.52, with non-GAAP adjusted operating income of $0.56 [34] - A cash dividend of $0.16 per share was declared and paid, continuing a 56-year history of dividend payments [34] Q&A Session Summary - There were no questions during the Q&A session, and the conference concluded without further inquiries [19]

Safe harbor statement and non-GAAP measures Non-GAAP Financial Measures 2 First quarter 2024 ▪ Net premiums written(1) of $321.3 million increased 17.6% compared to the first quarter of 2023 ▪ Underlying combined ratio of 94.3%(2) ▪ Net investment income of $16.3 million increased 28.5% compared to the first quarter of 2023 3 1) Net premiums written is a performance measure reflecting the amount charged for insurance policy contracts issued and recognized on an annualized basis at the effective date of the ...

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, 2024 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 ...

Exhibit 99.1 United Fire Group, Inc. Reports First Quarter 2024 Results First Quarter Net Income of $0.52 per Diluted Share and Adjusted Operating Income of $0.56 per Diluted Share First quarter 2024 highlights: CEDAR RAPIDS, Iowa - (GLOBE NEWSWIRE) - United Fire Group, Inc. (Nasdaq: UFCS), May 7, 2024 - FOR IMMEDIATE RELEASE United Fire Group, Inc. (the "Company" or "UFG") (Nasdaq: UFCS) today reported financial results for the three-month period ended March 31, 2024 (the "first quarter of 2024") with a co ...