United Fire Group (United Fire Group) Claims Ratio % : 64.80% (As of Dec. 2023)

United Fire Group Claims Ratio % Chart

United Fire Group Annual Data
	Trend	Dec19	Dec20	Dec21	Dec22	Dec23
Claims Ratio %		Get a 7-Day Free Trial
Expense Ratio %		Get a 7-Day Free Trial
Combined Ratio %		Get a 7-Day Free Trial

United Fire GroupQuarterly Data
	Trend	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Claims Ratio %		Get a 7-Day Free Trial
Expense Ratio %		Get a 7-Day Free Trial
Combined Ratio %		Get a 7-Day Free Trial

Competitive Comparison of United Fire Group's Claims Ratio %

For the Insurance - Property & Casualty subindustry, United Fire Group's Claims Ratio %, along with its competitors' market caps and Claims Ratio % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

United Fire Group  (NAS:UFCS) Claims Ratio % Calculation

Claims Ratio % is calculated as

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

United Fire Group  (NAS:UFCS) Claims Ratio % Explanation

Claims Ratio % the percentage of claims costs incurred in relation to the premiums earned during the period. It is the equivalent of gross profit margin for an insurance company.

It's important to note that insurance is the business of managing risks and, to do that well, the insurer needs a thorough understanding of the incurred claims ratio. If the value is higher than expected or above established norms, then further investigation is required to figure out why that is (eg: fraud). If it is lower than expected, it could indicate irrelevant products or difficulties in claiming, possibly affecting customer satisfaction.

United Fire Group Claims Ratio % Related Terms

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United Fire Group (United Fire Group) Business Description