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Mar 31, 2024
United Fire Group Q1 2024 Earnings Report
Reported first quarter results with net income increasing due to underwriting income and higher investment income.
Key Takeaways
United Fire Group reported a strong first quarter in 2024, with net income increasing to $13.5 million, driven by improved underwriting results and higher investment income. Net written premiums grew by 17.6% to $321.3 million, and the GAAP combined ratio improved to 98.9%.
Net income increased to $13.5 million, driven by underwriting income and higher investment income.
Net premiums written increased 17.6% to $321.3 million.
GAAP combined ratio improved to 98.9%, with an underlying combined ratio of 94.3%.
Net investment income increased 28.5% to $16.3 million.
Revenue by Segment
Forward Guidance
Throughout 2024, UFG will continue to focus on the strategic execution of its business plan to drive continued improvement in performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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