United Fire Group, Inc · NASDAQ:UFCS
United Fire — Q1 2025 Earnings Presentation
7 slides from United Fire's earnings presentation, May 7, 2025
Slide 1: First Quarter 2025 Results
FIRST QUARTER 2025 RESULTS May 7, 2025
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 First Quarter (In Millions, Except Per Share Data) 2025 2024 Change ▪ Net income increased 31% with operating income up 27% Net written premium $335 $321 4% compared to prior year Net earned premium $308 $281 10% GAAP Ratios: ▪ Net written premium growth continued, fir
Slide 4: P&C Trends
P&C TRENDS Net written premium ($M) Core commercial Alternative distribution ▪ Core commercial grew net written premium 6% in Q1 Specialty Surety $335 $321 $14 $326 $12 $306 $14 $15 ▪ Specialty, surety, and alternative distribution growing as expected $7 $18 $279 $8 $10 $74 ▪ Third consecutive quart
Slide 5: P&C Production Results
P&C PRODUCTION RESULTS 20% 82% 82% 82% 81% 81% ▪ Strong core commercial production with Retention 18% increasing new business, elevated rates, 16% 12.3% 12.7% 12.2% steady retention 14% 10.9% 11.7% Renewal premium change 12% 10% ▪ New business increased over prior year in 8% Rate 6% small business,
Slide 6: Investment Portfolio
INVESTMENT PORTFOLIO Investment portfolio composition & quality Portfolio Composition ▪ Q1 invested assets of $2.2B, with 89% of invested assets Fixed Maturity Credit Rating Rating % of Portfolio Other & Long- in fixed income securities Term AAA 55.6% Partnerships 11% AA 13.4% ▪ Fixed income portfol
Slide 7: Investment Income
INVESTMENT INCOME Results First Quarter (In Millions) 2025 2024 Change ▪ Fixed maturity income grew 39% above prior year as a result of portfolio management actions and reinvestment of portfolio Investment income: proceeds at yields above portfolio average Interest on fixed maturities $21 # $15 39%