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United Fire Group, Inc. Reports Fourth Quarter And Year Ended 2012 Results

Stocks in this article: UFCS

CEDAR RAPIDS, Iowa, Feb. 19, 2013 (GLOBE NEWSWIRE) --

Consolidated Financial Results - Highlights:

Quarter Ended December 31, 2012   For the Year Ended December 31, 2012 
Operating Losses (1) per diluted share -- $0.12   Operating Income (1) per diluted share -- $1.44
Net Loss per diluted share -- $0.10    Net Income per diluted share -- $1.58
Net Realized Investment Gain per share (2) -- $0.02   Net Realized Investment Gain per share (2) -- $0.14
Catastrophe losses per share (2) -- $0.77    Catastrophe losses per share (2) -- $1.65
Combined Ratio -- 111.1%   Combined Ratio -- 101.2%
    Return on Equity -- 5.6%
    Book Value per share -- $28.90

United Fire Group, Inc. (the "Company") (Nasdaq:UFCS) today reported consolidated operating loss (1) of $0.12 per diluted share for the fourth quarter of 2012 compared to operating income (1) of $0.62 per diluted share for the fourth quarter of 2011.   For the year ended December 31, 2012, the Company reported consolidated operating income of $1.44 per diluted share compared to a net operating loss of $0.16 per diluted share for the same period in 2011.

The Company reported consolidated net losses, including investment gains and losses, of $2.4 million ($0.10 per share) for the quarter ended December 31, 2012 and consolidated net income of $40.2 million ($1.58 per share) for the year ended December 31, 2012, compared to net income of $16.9 million ($0.66 per share) and $11.0 thousand ($0.00 per share), respectively, for the same periods in 2011.

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