United Fire Group, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 13, 2024 at 04:01 pm EST
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United Fire Group, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 287.32 million compared to USD 280.16 million a year ago. Net income was USD 19.61 million compared to USD 20.12 million a year ago. Diluted earnings per share from continuing operations was USD 0.77 compared to USD 0.79 a year ago.
For the full year, revenue was USD 1,095.47 million compared to USD 980.29 million a year ago. Net loss was USD 29.7 million compared to net income of USD 15.03 million a year ago. Diluted loss per share from continuing operations was USD 1.18 compared to diluted earnings per share from continuing operations of USD 0.59 a year ago.
United Fire Group, Inc. is engaged in the business of writing property and casualty insurance through a network of independent agencies. The Companyâs insurance company subsidiaries are licensed as property and casualty insurers in 50 states, plus the District of Columbia. Its business is comprised primarily of commercial lines property and casualty insurance, including surety bonds. Its core commercial products support a variety of customers, including small business owners and middle market businesses operating in industries, such as construction, services, retail trade, financial and manufacturing, along with contract surety and commercial surety bonds offered through approximately 1,000 independent property and casualty agencies. It also provides specialty and surplus lines coverage through wholesale brokers on an admitted and non-admitted basis. Additionally, it offers reinsurance coverage for property and casualty insurance through traditional treaty reinsurance channels.
UNITED FIRE GROUP, INC. 
