United Fire Group, Inc. (UFG) is a holding company that, through its subsidiaries, engages in the business of writing property and casualty insurance. Founded in 1946 and headquartered in Cedar Rapids, Iowa, the company provides a comprehensive suite of insurance products tailored to protect businesses and individuals from everyday risks. UFG operates as a single reportable segment focused on property and casualty insurance, having previously divested its historical life insurance business. Its core commercial products support a wide variety of customers, including small business owners and middle-market businesses operating in industries such as construction, services, retail trade, finance, and manufacturing.
The company's product portfolio includes commercial liability, commercial property, commercial auto, workers' compensation, and surety bonds. It also offers specialty and surplus lines coverage written exclusively through wholesale brokers on an admitted and non-admitted basis, as well as assumed reinsurance services. Geographically, UFG is licensed in all 50 U.S. states and the District of Columbia, maintaining a growing national footprint with regional offices in states like Arizona, California, Colorado, New Jersey, and Texas.
UFG's business model relies heavily on the American Agency System, distributing its products through a network of approximately 850 to 1,000 independent property and casualty agencies, rather than a direct-to-consumer approach. The company generates revenue primarily through net earned premiums from its underwriting activities and net investment income from its fixed-income and equity portfolios. By focusing on disciplined underwriting, strong agent relationships, and localized market expertise, United Fire Group maintains a competitive position in the regional and national property and casualty insurance markets.
