UNITED FIRE GROUP Business Summary

United Fire Group Inc. (UFG) operates as a property and casualty insurance holding company that generates revenue primarily through net written premiums and investment income from its $2.5 billion portfolio. The company’s business is structured into three core segments: Commercial Lines, which targets small to middle-market businesses in construction and manufacturing; Specialty and Surplus (E&S) lines, focusing on niche professional liability and marine risks; and a Surety segment providing contract and commercial bonds. UFG also maintains a strategic presence in reinsurance through Lloyd’s of London syndicates. In the competitive landscape, UFG contends with players such as Kinsale Capital Group, ProAssurance, and HCI Group. Positioned as a disciplined, solution-oriented underwriter, UFG has recently transitioned from a period of restructuring to a growth phase, achieving a record $1.3 billion in net written premiums and a sub-95% combined ratio as of early 2026. Founded in 1946 by Scott McIntyre Sr., the company is currently led by President and CEO Kevin Leidwinger, who joined in 2022 following a distinguished tenure as President and COO of CNA Commercial and a global leadership role at Chubb. The executive team includes EVP and COO Julie Stephenson, a mechanical engineer by training with deep operational transformation expertise, and EVP and CFO Eric Martin, who previously spent over two decades at Transamerica as Head of Enterprise Transformation. The board is chaired by Jim Noyce, former CEO of FBL Financial Group, and was recently strengthened by the 2025 appointment of Gilda L. Spencer, a former senior legal executive from Allstate and Nationwide. Institutional investors, including Prudential Financial and BlackRock, maintain a significant majority stake in the firm, supporting its strategic pivot toward technology-augmented underwriting and long-term capital efficiency.