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United Fire Group announces net loss for second quarter of 2022


Corridor Business Journal: United Fire Group on Thursday reported a net loss for the second quarter of 2022, driven in part by a loss in investments. UFG, the Cedar Rapids-based insurance company, reported a consolidated net loss of $10.5 million, or 42 cents per diluted share, for the second quarter ending June 30. In the same quarter of 2021, it had reported net income of $13.8 million, or 54 cents per diluted share. In a statement, UFG said the loss for the second quarter was primarily due to a decrease in the fair value of investments in equity securities and a decrease in investment income, partially offset by an increase in net premiums earned.

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