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Sep 30, 2021
United Fire Group Q3 2021 Earnings Report
Reported a consolidated net loss due to higher-than-average catastrophe losses, offset by improvement in core loss ratio.
Key Takeaways
United Fire Group reported a net loss of $9.6 million, or $0.38 per diluted share, for the third quarter of 2021, compared to a net loss of $37.2 million, or $1.49 per diluted share, for the same period in 2020. The improvement was driven by lower losses and loss settlement expenses and higher net investment income, partially offset by a decrease in net premiums earned and net realized investment losses.
Net loss was $9.6 million ($0.38 per diluted share) compared to a net loss of $37.2 million ($1.49 per diluted share) in Q3 2020.
Net premiums earned decreased 7.8 percent to $238.9 million.
Net investment income was $11.6 million, compared to $7.2 million in the same period last year.
GAAP combined ratio decreased to 109.7 percent compared to 124.4 percent in the same period last year.
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
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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