United Fire Group Reports Record-Setting 2025

Insurer highlights sharp improvement in underwriting profitability, higher investment income, and continued premium growth.

Published on Feb. 14, 2026

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United Fire Group (NASDAQ:UFCS) executives highlighted a 'record-setting' 2025 on the company's fourth-quarter earnings call, pointing to a sharp improvement in underwriting profitability, higher investment income, and continued premium growth following a multi-year operational transformation.

Why it matters

United Fire Group's strong financial performance in 2025 reflects the success of its strategic initiatives over the past three years, including enhancing underwriting expertise, improving alignment with distribution partners, and investing in technology to drive operational efficiency. The company's improved profitability and capital position have enabled it to increase shareholder payouts through a higher dividend.

The details

For the full year, net written premium grew 9% to more than $1.3 billion, aided by record new business production, strong retention in core commercial lines, and continued renewal premium increases. The annual combined ratio improved to 94.8%, with management citing improvement in the underlying loss ratio, catastrophe loss ratio, and expense ratio. The company also moved to a more conservative position within its actuarial estimates, and return on equity reached 13.7% in 2025, the best in nearly two decades.

  • United Fire Group reported its fourth-quarter and full-year 2025 results on February 14, 2026.
  • The company's board approved a 25% increase in the quarterly cash dividend to $0.20 per share, to be paid on March 10, 2026 to shareholders of record as of February 24, 2026.

The players

United Fire Group, Inc.

An insurance holding company based in Cedar Rapids, Iowa that specializes in property and casualty coverage for commercial and personal lines.

Kevin Leidwinger

CEO of United Fire Group.

Eric Martin

CFO of United Fire Group.

Julie Stephenson

COO of United Fire Group.

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What they’re saying

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What’s next

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The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.