---
schema_version: "secwatch.filing_event.v1"
accession: "0000101199-23-000074"
form_type: "8-K"
ticker: "UFCS"
cik: "0000101199"
company_name: "UNITED FIRE GROUP INC"
filed_at: "2023-08-18T23:59:59+00:00"
generated_at: "2026-06-11T06:43:00.654903+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# AM Best downgrades United Fire Group's financial strength rating to A-; surplus note rate rises to 6.875%

## Summary
- AM Best downgraded UFG's Financial Strength Rating to A- (Excellent) from A (Excellent); outlook revised to stable from negative.
- Long-Term ICR of property/casualty subsidiaries downgraded to "a-" from "a"; UFG's ICR to "bbb-" from "bbb".
- Interest rate on UFG's $50 million surplus note increases from 6.375% to 6.875% due to the downgrade.
- CEO Kevin Leidwinger cites disappointment but outlines steps: core commercial growth, catastrophe exposure reduction, expense ratio cuts.
- Chairman Jim Noyce expresses confidence in management's strategy to restore profitability.

## SEC filing metadata
- accession: 0000101199-23-000074
- form_type: 8-K
- ticker: UFCS
- cik: 0000101199
- company_name: UNITED FIRE GROUP INC
- filed_at: 2023-08-18T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/101199/000010119923000074/0000101199-23-000074-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/101199/000010119923000074/ufcs-20230818.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000101199-23-000074
- JSON: https://secwatch.observer/filing/0000101199-23-000074.json
- Plain text: https://secwatch.observer/filing/0000101199-23-000074.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.