United Fire Group, Inc. Reports Third Quarter 2018 Results

Released on: Nov 7, 2018, 08:00 AM

United Fire Group, Inc. (the "Company" or "UFG") (Nasdaq: UFCS) today reported consolidated net income, including net realized investment gains and losses and changes in the fair value of equity securities, of $11.1 million ($0.43 per diluted share) for the three-month period ended September 30, 2018 (the "third quarter"), compared to a consolidated net loss of $17.9 million ($0.72 per diluted share) for the same period in 2017.

For the nine-month period ended September 30, 2018 ("year-to-date"), consolidated net income, including realized investment gains and losses and changes in the fair value of equity securities, was $57.0 million ($2.23 per diluted share), compared to $5.0 million ($0.20 per diluted share) for the same period in 2017.

The Company reported consolidated adjusted operating income of less than $0.01 per diluted share for the third quarter, compared to a consolidated adjusted operating loss of $0.73 per diluted share for the same period in 2017. Year-to-date, consolidated adjusted operating income was $0.96 per diluted share compared to consolidated adjusted operating income of $0.02 per diluted share for the same period in 2017.

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