United Fire Group, Inc · NASDAQ:UFCS
United Fire — Q4 2025 Earnings Presentation
7 slides from United Fire's earnings presentation, Feb 11, 2026
Slide 1: Fourth Quarter 2025 Results
FOURTH QUARTER 2025 RESULTS February 11, 2026
Slide 2: Safe Harbor Statement and Non-GAAP Measures
SAFE HARBOR STATEMENT AND NON-GAAP MEASURES This presentation may contain forward-looking statements about our operations, anticipated performance and other similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor under the Securities Act of 1933 and the Securitie
Slide 3: Consolidated Financial Results
CONSOLIDATED FINANCIAL RESULTS ▪ Fourth quarter combined ratio of 92.3% improved from prior year across all components ▪ Annual combined ratio of 94.8%, investment income of $98M and ROE of 13.7% the best in a decade or longer ▪ Full year net income of $118M, or $4.48 per share, nearly doubled from
Slide 4: P&C Trends
P&C TRENDS ▪ Net written premium growth of 11% in the fourth Net written premium ($M) quarter and 9% for the full year to record levels $600 $1,600 Thousands $500 $1,231 $1,346 $1,400 ▪ Fourth quarter combined ratio improved 2.1 $1,200 points to 92.3% with improved underlying loss $400 $1,000 ratio,
Slide 5: P&C Production Results
P&C PRODUCTION RESULTS ▪ All business units contributed to fourth quarter net written premium growth 86% 86% 85% 20% 82% 82% 82% 81% 81% Retention 18% 16% ▪ Fourth quarter core commercial rate 12.3% 12.7% 12.2% 14% 10.9% 11.7% increase of 4.8% continues to offer 12% 9.4% Renewal premium change 10% a
Slide 6: Investment Portfolio
INVESTMENT PORTFOLIO Investment portfolio composition & quality Portfolio Composition Fixed Maturity Credit Rating ▪ Fourth quarter invested assets grew to Rating % of Portfolio $2.5B on improved operating earnings, Other & Long- Term AAA 26% with 89% of invested assets in fixed Partnerships 11% AA
Slide 7: Investment Income
INVESTMENT INCOME Results ▪ Fourth quarter net investment income increased 14% with 17% growth in fixed maturity income ▪ Fixed maturity income growth driven by combination of portfolio growth, strategic management actions and reinvestment of portfolio proceeds at yields above portfolio average ▪ Ne