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United Fire & Casual Ratings and Company Information
Best Insurance Reports: 03875
Best Rating: A
Type of Insurance Company: Property and Casualty
Name of Parent Company:
United Fire & Casualty Co. (a holding company)
Company History: United Fire & Casualty Company, which was originally incorporated under a slightly different name in 1946, is the lead property and casualty company of a fleet of p/c companies collectively known as the United Fire & Casualty Group. This group, together with other operations, are organized under a publicly traded holding company, United Fire & Casualty Company. Through its subsidiaries, United Fire & Casualty Company writes property and casualty insurance in 41 states (primarily in the Midwest, West and South) and life insurance in 27 states (primarily in the Midwest and West). Property and casualty insurance operations include both commercial and personal lines with fire, allied lines, other liability, auto, workers' compensation and surety coverages. Life insurance operations include single premium annuities, universal life, whole life and term life.
Principle Sales Methods: The company is licensed for property and casualty in 41 states (primarily in the Midwest, West and South) where nearly 950 independent agencies represent it. About 55% of p/c premium came from Texas (14%), Iowa (13%), Louisiana (11%), Colorado (9%) and Missouri (8%) in 2004.
Life Annuity Business: Life insurance operations of the United Fire & Casualty Company are conducted through over 1,100 independent agents in the 27 states where it does business. Life insurance premiums are about $100 million annually, and the life insurance operation has admitted assets of about $1 billion. Life premiums in 2004 came largely from Iowa (34%), Wisconsin (12%), Nebraska (10%), Illinois (8%) and Minnesota (7%). Life customers are largely a different group from the property and casualty customers.
Auto Business: Both personal and commercial automobile coverages are available.
Homeowners Business: The company offers various homeowner and dwelling and watercraft coverages.
Company Financial Status:
Ticker Symbol: UFCS
Assets & Premiums: United Fire & Casualty Company had assets at year end 2006 of $2.8 billion and premiums earned in 2006 of $503 million. Total revenues for the year were $636 million.
Lines of Insurance:
States licensed to sell insurance in:
AL, AK, AZ, AR, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, MD, MI, MN, MS, MO, MT, NE, NV, NJ, NM, NY, NC, ND, OH, OK, OR, SC, SD, TN, TX, UT, WA, WV, WI, WY