About UFG
Trusted insurance solutions since 1946
UFG Insurance was founded on a belief that the insurance business is a people business — a principle that still anchors us today.
With a geographic presence from coast to coast, UFG is here for you with deep underwriting expertise and specialized capabilities to meet the evolving needs of business owners. Underpinning our commitment to customers is a dedication to service that exceeds expectations and an emphasis on personal relationships that can be hard to find in today’s fast-paced world.
We’re proud to provide insurance solutions from UFG headquarters in Iowa and office locations in Arizona, California, Colorado, New Jersey and Texas. Our products are available exclusively through a select group of approximately 850 independent insurance agencies and brokers across the United States. Learn about our legacy.
Turn to UFG for:
- Commercial insurance in 32 states through business units of:
- Middle market
- Construction
- Small business
- Excess and surplus lines and surety bonds in 50 states plus Washington D.C. through business units of:
- UFG Specialty
- UFG Surety
- Reinsurance that spans the globe through the alternative distribution unit
UFG welcomes independent insurance agents to explore a rewarding partnership with us.
Discover our cornerstones
Corporate responsibility
At UFG, our purpose is rooted in deeper responsibilities than ink reflects on paper. The promises we strive to keep in the business world parallel those we pledge to our communities, employees and environment.
DE&I
We aim to foster a culture of belonging, where everyone is welcome, respected and appreciated. That commitment is reinforced through a variety of DE&I initiatives.
UFG Foundation
The private foundation of UFG Insurance has put profits to work for a higher purpose since 1999, building upon our mission’s promise of community support.
Vision, mission, values
At our fundamental core is a vision that inspires us, a mission that motivates us and a strong set of values that defines us.Go Beyond award
Each year, UFG proudly celebrates an employee and agency partner who goes above and beyond in community service.
Erica Bergfeld-Reed
Nick Killoran
UFG Insurance Blog
Our insurance blog holds a wealth of demystifying articles from respected industry leaders at UFG. With a broad range of business topics, there’s an ah-ha moment for everyone in the blog library.
UFG news
Stay up to date on press releases and corporate news stories from across UFG.
United Fire Group, Inc. reports fourth quarter and full year 2025 results
Fourth quarter net income of $1.45 per diluted share
and adjusted operating income of $1.50 per diluted share
Full year net income of $4.48 per diluted share
and adjusted operating income of $4.60 per diluted share
Full year return on equity of 13.7%
Board of directors declares 25% increase in quarterly dividend to $0.20 per share
Fourth quarter 2025 highlights compared to fourth quarter 2024: (1)
- Net income increased $6.9 million to $38.4 million.
- Net investment income increased 14% to $26.4 million.
- Combined ratio improved 2.1 points to 92.3%; composed of an underlying loss ratio of 55.4%, catastrophe loss ratio of 1.2%, no prior year reserve development, and underwriting expense ratio of 35.7%.
- Underlying combined ratio improved 1.7 points to 91.1%.
- Net written premium(2) increased 11% to $309.7 million.
Full year 2025 highlights compared to full year 2024:(1)
- Net income increased $56.2 million to $118.2 million.
- Net investment income increased 19% to $97.5 million.
- Combined ratio improved 4.4 points to 94.8%; composed of an underlying loss ratio of 56.3%, catastrophe loss ratio of 3.2%, favorable prior year reserve development of 0.4% and underwriting expense ratio of 35.7%.
- Underlying combined ratio improved 1.8 points to 92.0%.
- Net written premium(2) increased 9% to $1.3 billion.
- Book value per share increased $6.08 to $36.88 as of December 31, 2025, compared to December 31, 2024.
- Adjusted book value per share increased $4.23 to $37.87 as of December 31, 2025, compared to December 31, 2024.
CEDAR RAPIDS, IOWA, February 10, 2026 — United Fire Group, Inc. (UFG) (Nasdaq: UFCS) today reported financial results for the fourth quarter ended December 31, 2025, with net income increasing $6.9 million over the prior year to $38.4 million ($1.45 per diluted share) and adjusted operating income increasing $7.2 million over the prior year to $39.7 million ($1.50 per diluted share).
In the fourth quarter, net written premium grew 11% with retention and new business above the prior year period and an average renewal premium increase of 6.3%. The fourth quarter combined ratio improved 2.1 points to 92.3% with improved underlying loss ratio, expense ratio and catastrophe losses, while prior year reserve development remained neutral overall. Net investment income of $26.4 million increased 14% from the prior year period.
For the full year, net written premium grew 9% with retention and new business strongly above prior year and an average renewal premium increase of 8.7%. The annual combined ratio of 94.8% improved 4.4 points from prior year with improvement across all components. Net investment income of $97.5 million increased 19% from prior year.
“UFG produced excellent results in the fourth quarter, providing a strong close to a year of outstanding achievements,” said President and CEO Kevin Leidwinger. “Through the efforts of our exceptional team, UFG achieved record levels of gross written premium, net written premium and new business production in 2025 while delivering the best annual underwriting profit, investment income and return on equity in a decade or longer.
“These milestones reflect the actions taken over the past several years to transform the company and significantly improve its operating performance. Our deepened expertise, evolved capabilities, enhanced actuarial insights and improved alignment with distribution partners have enabled us to more broadly serve our customers, which we believe positions UFG for continued profitable growth as a disciplined, solution-oriented underwriting company.
“As we embark on our 80th year in business in 2026, UFG is well poised to navigate the complexities of an evolving market and will remain focused on the strategic execution of our business plan. With confidence in our future financial performance and an enduring commitment to creating long-term value for our shareholders, I am pleased to announce that the board of directors has declared a 25% increase in our quarterly cash dividend from $0.16 per share to $0.20 per share.”
View the full release here.
(1) Underlying loss ratio, underlying combined ratio and adjusted book value per share are non-GAAP financial measures. See Definitions of non-GAAP information and reconciliations to comparable GAAP measures for additional information.
(2) Net written premium is a performance measure reflecting the amount charged for insurance policy contracts issued and recognized on an annualized basis at the effective date of the policy. See Certain performance measures for additional information.