United Fire Group, Inc · NASDAQ:UFCS

United Fire — Association of Insurance and Financial Analysts (AIFA) Conference 2021

15 slides from United Fire's conference presentation, Mar 2, 2021

1. Slide 1: UFG Insurance Investor Presentation

   UFG INSURANCE INVESTOR PRESENTATION MARCH 2021

2. Slide 2: Forward-Looking Statements

   UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 Forward-Looking Statements This presentation may contain forward-looking statements about our operations, strategic plan, expensive initiatives, anticipated performance and other similar matters. The Private Securities Litigation Reform Act of 1995

3. Slide 3: UFG Insurance Profile

   UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 UFG Insurance Profile Company profile Competitive advantages  Founded in 1946, Super Regional Property/Casualty Insurer,  Strong consolidated balance sheet also write Surety, Excess and Surplus, and assumed  Exceptional customer service reinsuran

4. Slide 4: Strategic Plan: "One UFG boldly forward"

   UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 Strategic Plan: "One UFG boldly forward"  Several initiatives aimed at long-term profitability, diversification and growth in profitable lines, and innovation.  Portfolio management initiatives include diversifying our book of business and targeti

5. Slide 5: Focus on commercial auto, property, umbrella

   UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021  Primarily focused on commercial auto, property, umbrella  Auto – unit reduction, rate increase  Property – rate increase, reduce undesirable exposures  Umbrella – rate increase, limits reduction 5

6. Slide 6: Commercial Auto Moving Average Frequency and Exposure Units

   UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 Commercial Auto Moving Average Frequency and Exposure Units Frequency down 19%, Exposure down 21% 273K 216K 6 Moving Average of Claims Frequency Moving Average of Exposure Units

7. Slide 7: New Business Premium Breakdown

   UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 New Business Premium Breakdown 32% Auto 24% 2019 23% 2020 Liability 24% 13% Property 17% 9% Inland Marine 12% 8% Work Comp 8% 7% BOP 8% 7% Umbrella 7% 7

8. Slide 8: Claim Counts of Major Commercial Casualty Lines

   UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 Claim Counts of Major Commercial Casualty Lines CA BI+PD Liability Claims Counts CGL BI+PD Liability Claims Counts Claims down 39% Feb YTD 2021 vs Feb YTD 2020 Claims down 19% Feb YTD 2021 vs Feb YTD 2020 1200 400 1000 350 300 800 250 600 200 400 15

9. Slide 9: Claim Counts of Major Commercial Casualty Lines

   UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 Claim Counts of Major Commercial Casualty Lines BOP Liability Claims Counts Work Comp Claim Counts Claims down 28% Feb YTD 2021 vs Feb YTD 2020 Claims down 29% Feb YTD 2021 vs Feb YTD 2020 80 300 60 250 200 40 150 20 100 50 0 0 9 2021 2020 2019 2021

10. Slide 10: 2021 Notables

    UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 2021 Notables  Texas winter storm event (February 2021)  Significant CAT event for UFG based on initial estimates  Reminder: UFG CAT loss retention is $20 million per event  Expense initiatives  Agent commission structure adjustments  Employee

11. Slide 11: Appendix

    UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 APPENDIX 11

12. Slide 12: Management

    UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 EXECUTIVE OVERVIEW Management RANDY A. RAMLO MICHAEL T. WILKINS DAWN M. JAFFRAY President/Chief Executive Executive Vice President / Executive Vice President / Officer Chief Operating Officer Chief Financial Officer Years at UFG: 36 Years at UFG: 35

13. Slide 13: UFG Insurance – Financial Facts

    UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 UFG Insurance – Financial Facts Net premium earned Combined Ratio ($ in Millions) $1,050 $1,087 $1,055 $1,059 $1,023 Loss Ratio Expense Ratio $931 $828 $695 $755 32.6 33.5 31.4 31.3 30.6 31.2 33.5 31.8 31.0 69.8 69.7 72.8 70.5 76.4 82.4 63.0 66.5 61

14. Slide 14: UFG Insurance – Financial Facts

    UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 UFG Insurance – Financial Facts 14

15. Slide 15: P & C Geographic Footprint

    UFG INSURANCE – INVESTOR PRESENTATION – MARCH 2021 P & C Geographic Footprint Headquartered in Cedar Rapids, Iowa, we are Regional Underwriting Offices in Cedar Rapids, Iowa represented by independent agents throughout the (corporate headquarters); Denver, Colorado; Houston, country in 49 states, pl

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