United Fire Group Q1 net income $0.7M ($0.03 EPS); combined ratio 104.0% vs 89.5% YoY

UNITED FIRE GROUP INC

2023-Q1 EPS reported $0.03 revenue$267,104,000

Net income $0.7M ($0.03 diluted EPS); adjusted operating income $2.1M ($0.08 diluted) vs $28.7M ($1.13) YoY.
Net premiums written $273.3M, up 13.4%; core commercial lines grew 9.6%.
GAAP combined ratio 104.0% (vs 89.5%), driven by underlying loss ratio 63.5% (+6 pts) and expense ratio 35.8% (+2 pts).
Catastrophe loss ratio 4.6% (+2.0 pts); net investment income $12.7M, up 12.8%.
Book value per share $29.80 (+1.5% from Dec 2022); quarterly dividend $0.16 declared.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNITED FIRE GROUP INC reported the quarter ended March 31, 2023 results: net income $0.7 million ($0.03 per diluted share), EPS $0.03 per diluted share.

Period: the quarter ended March 31, 2023
Net income: $0.7 million ($0.03 per diluted share)
EPS: $0.03 per diluted share
Result: reported results

Exact text from the filing

On May 8, 2023, United Fire Group, Inc. issued a press release announcing its financial results for the quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0000101199-23-000033

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