United Fire Group, Inc. Reports First Quarter 2013 Results

Consolidated Financial Results - Highlights:  
Quarter Ended March 31, 2013  
Operating Income (1) per diluted share  $ 0.84
Net Income per diluted share  $ 0.88
Net Realized Investment Gain per share (2)  $ 0.04
Catastrophe losses per share (2)  $ 0.12
Book Value per share  $ 30.01
Combined Ratio 90.3%
Return on Equity 12.0%

CEDAR RAPIDS, Iowa, May 7, 2013 (GLOBE NEWSWIRE) -- United Fire Group, Inc. (the "Company") (Nasdaq:UFCS) today reported consolidated operating income (1) of $0.84 per diluted share for the first quarter of 2013 compared to operating income (1) of $0.68 per diluted share for the first quarter of 2012.

The Company reported consolidated net income, including realized investment gains and losses, of $22.4 million ($0.88 per share) for the quarter ended March 31, 2013, compared to net income of $19.2 million ($0.75 per share) for the same period in 2012.

"We are happy to report another solid quarter," commented Randy Ramlo, President and Chief Executive Officer. "We continue to seek and receive rate increases in most lines of business, policy retention remains strong and within our comfort range, and we are seeing a fair amount of new business opportunities. The market as a whole continues to firm due to weather-related losses in the past few years and the continuing low investment rate environment," continued Ramlo. "We believe these current economic and market trends will continue throughout 2013."

If you liked this article you might like

7 Stocks Spiking on Big Volume

Boring But Profitable: Insurance Stocks Below Book Value

How To YieldBoost UFCS To 14.1% Using Options

3 Stocks Improving Performance Of The Insurance Industry

United Fire Group Inc Stock Upgraded (UFCS)