AG真人官方

AM Best Affirms Credit Ratings of United Fire Group, Inc. and Its Property/Casualty Subsidiaries

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of 鈥渁-鈥� (Excellent) of the property/casualty (P/C) subsidiaries of United Fire Group, Inc. (UFG) [NASDAQ: UFCS] (collectively known as United Fire & Casualty Group), which operate under an intercompany pooling agreement led by United Fire & Casualty Company. Concurrently, AM Best has affirmed the Long-Term ICR of 鈥渂bb-鈥� (Good) of UFG and the Long-Term Issue Credit Rating of 鈥渂bb-鈥� (Good) on UFG鈥檚 $100 million, 9% senior unsecured notes due 2039. The outlook for these Credit Ratings (ratings) is stable. All companies are headquartered in Cedar Rapids, IA. (See below for a detailed listing of the companies and ratings.)

The ratings reflect United Fire & Casualty Group鈥檚 balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management.

While the group faces competitive market conditions and the insured footprint presents exposure to natural catastrophe events, the stable outlooks reflect AM Best鈥檚 expectation that the group鈥檚 operating performance and balance sheet strength metrics over the near term will be in line with recently reported results.

The ratings also consider the group鈥檚 well-established position within core markets that provide a diversified range of product offerings in commercial lines. The group benefits from its solid regional franchise, local market knowledge and long-standing agency relationships. While management remains focused on managing exposure to potential catastrophe and weather-related losses, recent results have benefited from earned rate increases and natural catastrophe losses occurring at lower-than-historical averages. UFG鈥檚 Long-Term ICR recognizes the capital strength of its operating subsidiaries. Financial leverage and interest coverage at the holding company remains modest.

The FSR of A- (Excellent) and the Long-Term ICRs of 鈥渁-鈥� (Excellent) have been affirmed with stable outlooks for United Fire & Casualty Company and its following P/C subsidiaries:

• Lafayette Insurance Company
• Addison Insurance Company
• United Fire & Indemnity Company
• United Fire Lloyds
• Mercer Insurance Company
• Financial Pacific Insurance Company
• Mercer Insurance Company of New Jersey, Inc.
• Franklin Insurance Company
• UFG Specialty Insurance Company

This press release relates to Credit Ratings that have been published on AM Best鈥檚 website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best鈥檚 web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper use of Best鈥檚 Credit Ratings, Best鈥檚 Performance Assessments, Best鈥檚 Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best鈥檚 Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit .

Copyright 漏 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com:

Gordon McLean

Senior Financial Analyst

+1 908 882 2109

[email protected]



Rosemarie Mirabella

Director

+1 908 882 2125

[email protected]



Christopher Sharkey

Associate Director, Public Relations

+1 908 882 2310

[email protected]



Al Slavin

Senior Public Relations Specialist

+1 908 882 2318

[email protected]

Source: AM Best