United Fire Q3 net income $19.7M ($0.76 EPS); premiums up 23% to $305.6M

UNITED FIRE GROUP INC

2024-Q3 EPS reported $1.18 revenue$920,132,000

Adjusted operating EPS of $0.81; net investment income rose 49% to $24.5M.
GAAP combined ratio improved 3.8 points to 98.2%; underlying combined ratio 93.8%.
Net written premiums grew 23% to $305.6M driven by core commercial and assumed reinsurance.
Book value per share $31.01, up $1.97 from Dec 31, 2023; after-tax unrealized loss reduced to $35.8M.
Iowa Insurance Division resolved rating-error issue with no financial impact; other state discussions ongoing.

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