Q2 2026 United Fire Group Inc Earnings Call Transcript
Key Points
- Record net income and net written premium in Q2 2026, with the best second-quarter combined ratio in over 15 years.
- Net investment income grew 33% year-over-year to $29 million, the highest level in over a decade.
- Underlying loss ratio improved slightly to 57.2%, with strong performance across core commercial lines.
- Catastrophe loss ratio of 2.7% was well below historical averages, reflecting successful risk management.
- Year-to-date return on equity of 13.2% is the best in 20 years, with strong growth in alternative distribution and surety.
- Renewal rate changes moderated to 2.9%, with property rates under pressure and modest pressure in general liability.
- Specialty excess and surplus lines saw a decline in net written premium due to heightened competition.
- Expense ratio increased 0.5 points year-over-year, partly due to a one-time lease buyout in Houston.
- Unrealized losses on investments increased by $4 million in Q2, negatively impacting book value per share.
- Assumed reinsurance market remains highly competitive, impacting underlying loss ratio performance.
Good day and welcome to the United Fire Group Insurance 2026 second quarter conference call.
All participants will be in listen-only mode.
Should you need assistance, please signal a conference specialist by pressing the star key, followed by after today's, there will be an opportunity to ask questions.
To ask a question, you may press star, then one on a touchtone phone.
To withdraw your question, please press star, then 2.
Please note this event is being recorded.
I would now like to turn the conference over to Tim Borst.
Please go ahead.
Good morning and thank you for joining this call yesterday afternoon we issued a press release on our results.
To find a copy of this document, please visit our website at UFGinsurance.com.
Press releases and slides are located under the investors tab, joining me today on the call are UFG President and Chief Executive Officer Kevin Leidwer, executive Vice President
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