United Fire Group ( (UFCS) ) has released its Q4 earnings. Here is a breakdown of the information United Fire Group presented to its investors.
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United Fire Group, Inc. (UFG) is a property and casualty insurance company headquartered in Cedar Rapids, Iowa, offering insurance services across all 50 states and the District of Columbia. In its latest financial report, UFG announced a strong performance for the fourth quarter and full year of 2024, highlighted by increased net income and investment income. The company’s net income for the fourth quarter rose to $31.4 million, with a significant improvement in the combined ratio, which dropped to 94.4% compared to the previous year. Net written premiums also saw a substantial increase, reaching a company record of $1.2 billion for the full year 2024. UFG’s management attributes these positive results to strategic improvements in underwriting, investment strategies, and enhanced capabilities. Looking ahead, while UFG has returned to underwriting profitability, the company remains focused on further executing its business plan to continue delivering superior financial and operational performance.