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Jun 30, 2022
United Fire Group Q2 2022 Earnings Report
Reported a consolidated net loss due to decrease in the fair value of investments in equity securities and a decrease in investment income partially offset by an increase in net premiums earned.
Key Takeaways
United Fire Group reported a net loss of $10.5 million, or $0.42 per diluted share, for Q2 2022, compared to a net income of $13.8 million, or $0.54 per diluted share, for the same period in 2021. The decrease was primarily driven by a decrease in the fair value of investments in equity securities and a decrease in investment income, partially offset by an increase in net premiums earned.
Net loss was $10.5 million ($0.42 per diluted share) for the second quarter of 2022, compared to net income of $13.8 million ($0.54 per diluted share) for the same period in 2021.
Net premiums earned increased 2.9 percent to $231.3 million in the second quarter of 2022, compared to $224.7 million in the same period in 2021.
Net investment income was $9.2 million for the second quarter of 2022, compared to net investment income of $13.8 million for the same period in 2021.
GAAP combined ratio decreased by 0.1 percentage points to 100.7 percent for the second quarter of 2022, compared to 100.8 percent in the same period in 2021.
Revenue by Segment
Forward Guidance
This release may contain forward-looking statements about our operations, anticipated performance and other similar matters. The forward-looking statements are not historical facts and involve risks and uncertainties that could cause actual results to differ from those expected and/or projected.
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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