2020
AM Best completes review of the financial strength ratings of United Fire & Casualty Group
Released on: Dec 17, 2020, 15:00 PM
CEDAR RAPIDS, Iowa – December 17, 2020
See the AM Best press release for full commentary
AM Best ratings are an important measure in the insurance industry for both our agents and policyholders, with an A rating assigned to companies that have an excellent ability to meet their ongoing insurance obligations.
“At UFG, we are proud to have AM Best affirm our A rating for the 27th consecutive year, which is a reflection of our long-term financial strength and stability,” said UFG President and CEO Randy Ramlo. “However, we take full accountability for the revised outlook, as our recent performance does not meet our standards for sustainable operating profitability.
“With that said, we are pleased that AM Best has recognized our very strong balance sheet, as being a strong and stable carrier is our primary purpose. On the eve of our 75th anniversary in January 2021, we remain more committed than ever to positioning UFG for sustainable growth and profitability in the year ahead, with several strategic initiatives currently underway for our future success.”
For the latest Best’s Credit Rating, access http://www.ambest.com.
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About UFG
Founded in 1946 as United Fire & Casualty Company, United Fire Group, Inc. (UFG, Nasdaq: UFCS), through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance.
Through our subsidiaries, we are licensed as a property and casualty insurer in 49 states, plus the District of Columbia, and we are represented by approximately 1,000 independent agencies. A.M. Best Company assigns a rating of “A” (Excellent) for members of the United Fire & Casualty Group.
For more information about UFG, visit www.ufginsurance.com.
See the AM Best press release for full commentary
AM Best ratings are an important measure in the insurance industry for both our agents and policyholders, with an A rating assigned to companies that have an excellent ability to meet their ongoing insurance obligations.
“At UFG, we are proud to have AM Best affirm our A rating for the 27th consecutive year, which is a reflection of our long-term financial strength and stability,” said UFG President and CEO Randy Ramlo. “However, we take full accountability for the revised outlook, as our recent performance does not meet our standards for sustainable operating profitability.
“With that said, we are pleased that AM Best has recognized our very strong balance sheet, as being a strong and stable carrier is our primary purpose. On the eve of our 75th anniversary in January 2021, we remain more committed than ever to positioning UFG for sustainable growth and profitability in the year ahead, with several strategic initiatives currently underway for our future success.”
For the latest Best’s Credit Rating, access http://www.ambest.com.
###
About UFG
Founded in 1946 as United Fire & Casualty Company, United Fire Group, Inc. (UFG, Nasdaq: UFCS), through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance.
Through our subsidiaries, we are licensed as a property and casualty insurer in 49 states, plus the District of Columbia, and we are represented by approximately 1,000 independent agencies. A.M. Best Company assigns a rating of “A” (Excellent) for members of the United Fire & Casualty Group.
For more information about UFG, visit www.ufginsurance.com.
