United Fire Group, Inc · NASDAQ:UFCS
United Fire — Q1 2022 Earnings Presentation
13 slides from United Fire's earnings presentation, May 5, 2022
Slide 1: 2022 First Quarter Earnings Conference Call
2022 FIRST QUARTER EARNINGS CONFERENCE CALL MAY 5, 2022
Slide 2: Consolidated Financial Results – Highlights
2022 FIRST QUARTER EARNINGS CONFERENCE CALL Consolidated Financial Results – Highlights Quarter Ended March 31, 2022 2021 Net income per diluted share $ 1.12 $ 0.74 Net investment gains (losses) per diluted share $ (0.01) $ 0.77 Adjusted operating income (loss) per diluted share $ 1.13 $ (0.03) GAAP
Slide 3: Property and Casualty Business Highlights
2022 FIRST QUARTER EARNINGS CONFERENCE CALL Property and Casualty Business Highlights Q1 2022 Results Combined ratio of 89.5% is the second consecutive quarterly combined ratio below 90 percent, first time in 7 years reported back-to-back quarters with below 90 percent. Core loss ratio improve
Slide 4: Property and Casualty Business: Strategic Plan
2022 FIRST QUARTER EARNINGS CONFERENCE CALL Property and Casualty Business Strategic Plan: "One UFG boldly forward" Several initiatives aimed at long-term profitability, diversified growth, and continuous innovation. Portfolio management initiatives include diversifying our book of business and
Slide 5: P & C Market Conditions
2022 FIRST QUARTER EARNINGS CONFERENCE CALL P & C Market Conditions Change in Renewal Premiums YTD 2022: Overall change in renewal premiums 7.6% YTD 2.4% from exposure changes, 5.2% from rate increases Excluding workers’ compensation, overall change in renewal premiums 9.0% YTD 2.4% from e
Slide 6: 2022 First Quarter Earnings Conference Call
2022 FIRST QUARTER EARNINGS CONFERENCE CALL 6
Slide 7: 2022 First Quarter Earnings Conference Call
2022 FIRST QUARTER EARNINGS CONFERENCE CALL 7
Slide 8: Claim Counts of Major Commercial Casualty Lines
2022 FIRST QUARTER EARNINGS CONFERENCE CALL Claim Counts of Major Commercial Casualty Lines CA BI+PD Liability Claims Counts CGL BI+PD Liability Claims Counts Claims down 21% YTD Claims down 13% YTD 1200 400 350 1000 300 800 250 600 200 150 400 100 200 50 0 0 8 2022 2021 2020 2019 2022 2021 2020 201
Slide 9: Claim Counts of Major Commercial Casualty Lines
2022 FIRST QUARTER EARNINGS CONFERENCE CALL Claim Counts of Major Commercial Casualty Lines BOP Liability Claims Counts Work Comp Claim Counts Claims down 9% YTD Claims down 17% YTD 80 300 60 250 200 40 150 100 20 50 0 0 2022 2021 2020 2019 9 2022 2021 2020 2019
Slide 10: Core Loss Ratio vs. Catastrophe Losses
2022 FIRST QUARTER EARNINGS CONFERENCE CALL Core Loss Ratio vs. Catastrophe Losses 90.0% 80.0% 13.5% 5.9% 11.3% 70.0% 7.4% 4.5% 6.5% 10.2% 60.0% 2.6% 50.0% 70.5% 40.0% 68.9% 68.3% 66.0% 65.4% 63.2% 57.5% 53.1% 30.0% 20.0% 10.0% 0.0% 2016 2017 2018 2019 2020 2021 Q1 2021 Q1 2022 Core Losses Cat Losse
Slide 11: Adjusted Loss Ratio
2022 FIRST QUARTER EARNINGS CONFERENCE CALL Adjusted Loss Ratio 2022 2021 Adjusted Loss Ratio Q1 Q1 P&C Loss Ratio (as reported) 55.7% 79.6% Impact of Catastrophes -2.6% -11.3% Loss Ratio Ex-Catastrophes 53.1% 68.3% Impact of Reserve Development 2.9% 5.1% Loss Ratio Ex-CAT and Ex-Development 56.0% 7
Slide 12: P & C Geographic Footprint
2022 FIRST QUARTER EARNINGS CONFERENCE CALL P & C Geographic Footprint Headquartered in Cedar Rapids, Iowa, UFG is represented by Regional Underwriting Offices in Cedar Rapids, Iowa independent agents throughout the country. UFG is licensed and (corporate headquarters); Denver, Colorado; Houston, ac
Slide 13: Recognition
2022 FIRST QUARTER EARNINGS CONFERENCE CALL Recognition Rated A (Excellent) by A.M. Best Company in December 2021 for the 28th consecutive year. United Fire & Casualty Co. has been named a Super Regional Property/Casualty Insurer™ every year since 2006 by Insurance Journal magazine. Placed on