UFG(UFCS) - 2024 Q1 - Quarterly Results
UFCSUFG(UFCS)2024-05-08 04:08

Exhibit 99.1 United Fire Group, Inc. Reports First Quarter 2024 Results First Quarter Net Income of 0.52perDilutedShareandAdjustedOperatingIncomeof0.52 per Diluted Share and Adjusted Operating Income of 0.56 per Diluted Share First quarter 2024 highlights: • Net income of 13.5millionincreasedcomparedtothefirstquarterof2023,drivenbyunderwritingincomeandhigherinvestmentincome.Netpremiumswritten(1)of13.5 million increased compared to the first quarter of 2023, driven by underwriting income and higher investment income. • Net premiums written(1) of 321.3 million increased 17.6% compared to the first quarter of 2023. • GAAP combined ratio of 98.9%, including a loss ratio of 64.0 ...