UFG(US:UFCS)2025-11-05 15:00Financial Performance - Third quarter net income reached $39 million, or $1.49 per share, nearly doubling from the previous year[8] - The combined ratio for the third quarter was 91.9%, and the year-to-date ROE was 12.7%, marking the best results in nearly 20 years[8] - Net investment income increased by 6% due to a 17% growth in fixed maturity income[8] - Adjusted operating income reached $40 million, compared to $21 million in the prior year[5] - Net premiums written grew by 7% to a third quarter record of $328 million[8, 15] Underwriting Performance - The net loss ratio improved by 5 percentage points to 57.3% in the third quarter[5] - The underwriting expense ratio improved to 34.6%, reflecting disciplined expense management and business growth[5, 15] - The catastrophe loss ratio was 1.3% in Q3, outperforming historical averages[5, 15] Production Results - Core commercial net written premium increased 22% from the prior year[17] - Core commercial rate increases moderated to 5.8% while maintaining strong margins[17] Investment Portfolio - Invested assets totaled $2.3 billion, with 89% allocated to fixed income securities[20] - The average credit rating on fixed maturity assets improved to AA[20] - Fixed maturity income increased 17% due to portfolio management and reinvestment at higher yields[21, 24]