Profile: United Fire Group Inc (UFCS.OQ)

UFCS.OQ on NASDAQ Stock Exchange Global Select Market

28.43USD
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Open
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Volume
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$34.12
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United Fire Group, Inc., formerly United Fire & Casualty Company, incorporated in January 1946, is engaged in the business of writing property and casualty insurance and life insurance and selling annuities. The Company operates in two segments: property and casualty insurance, and life insurance. The Company’s property and casualty insurance segment consists of commercial lines insurance, including surety bonds, personal lines insurance and assumed insurance. Its life insurance segment consists of deferred and immediate annuities, universal life insurance products and traditional life insurance products. Its life insurance segment consists solely of the operations of United Life Insurance Company. On February 1, 2012, the Company completed a holding company reorganization of United Fire Group, Inc., United Fire & Casualty Company and UFC MergeCo, Inc. On March 28, 2011, the Company acquired Mercer Insurance Group, Inc. (Mercer Insurance Group).

The Company markets its products through its office in Cedar Rapids, Iowa, and four regional locations: Westminster, Colorado, a suburb of Denver; Galveston, Texas; Pennington, New Jersey, and Rocklin, California. During the year ended December 31, 2011, property and casualty business accounted for approximately 90% of its net premiums earned, of which 89.6% was generated from commercial insurance. Life insurance business made up approximately 10%of its net premiums earned, of which over 61% was generated from life insurance products.

Property and Casualty Insurance Segment

The Company writes both commercial and personal lines of property and casualty insurance. The Company’s commercial policies coverage includes fire and allied lines, other liability, automobile, workers’ compensation and surety. Its personal lines consist primarily of automobile and fire and allied lines coverage, including homeowners.

Life Insurance Segment

United Life Insurance Company underwrites all of its life insurance business and sells annuities. The Company’s principal products are single premium annuities, universal life products and traditional life (primarily single premium whole life insurance) products. It also underwrites and markets other traditional products, including term life insurance and whole life insurance. The Company does not write variable annuities or variable insurance products.

Company Address

United Fire Group Inc

118 SECOND AVE SE
CEDAR RAPIDS   IA   52401
P: +1319.3995700

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