UFG Insurance

What UFG Insurance does

UFG Insurance is the operating brand of United Fire Group, Inc. (NASDAQ: UFCS), a publicly traded property and casualty insurance holding company founded in 1946 in Cedar Rapids, Iowa, and currently led by President and CEO Kevin Leidwinger, the company's sixth chief executive. UFG generates revenue primarily through writing commercial P&C insurance and collecting premiums across standard commercial lines (commercial auto, commercial property, general and excess liability, inland marine, umbrella, workers compensation, cyber), specialty excess and surplus lines, surety bonds (contract and commercial), and reinsurance, distributed exclusively through approximately 850 independent insurance agencies serving all 50 U.S. states and the District of Columbia. The company holds an A- (Excellent) financial strength rating from AM Best, operates through nine wholly-owned insurance subsidiaries (including United Fire & Casualty Company, Addison Insurance Company, Lafayette Insurance Company, Financial Pacific Insurance Company, Franklin Insurance Company, Mercer Insurance Company, Mercer Insurance Company of New Jersey, UFG Specialty Insurance Company, United Fire & Indemnity Company, and United Fire Lloyds), and reported record third-quarter 2025 net written premium of $328 million with $39.2 million in net income.

The company's go-to-market centers on a dedicated middle-market business unit targeting midsize and large commercial accounts in manufacturing, construction, real estate, heavy equipment dealers, architects and engineers, and wholesale distribution, complemented by a small-business offering anchored on a Businessowners Policy (BOP) and surety products that include both a credit-based ufgQuick program for new or infrequent contractors (up to $750,000 aggregate bonding capacity) and a traditional underwriting program supporting single bonds above $40 million and work programs above $80 million. Distribution is agent-led: appointed agents access 24/7 sales and underwriting resources through ufgMarketingsolutions.com (appetite guides, industry sales guides, hit lists) and submit credit-based surety bonds via ufgagent.com. In-house services include risk control consulting, premium audit, claims handling (with a dedicated construction defect claims unit and 24/7 nurse triage via CorVel for workers compensation), and an in-house service center.

On the financial and capital side, UFG completed a $30 million private offering of senior notes due 2039 with Ares Alternative Credit funds as investors in July 2025 to support growth and corporate purposes, declared a $0.20 per share quarterly cash dividend at its May 2026 annual meeting, and continued to invest in its agent-facing technology stack. Underwriting performance in 2025 showed improvement in combined ratio, loss ratio, and underwriting expense ratio, consistent with a profitable growth phase for the franchise.

Name

UFG Insurance

Legal name

United Fire Group, Inc.

Website

https://ufginsurance.com

Company type

Public

Founded year

1946

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

UFG Insurance is a publicly traded U.S. property and casualty insurer (NASDAQ: UFCS) founded in 1946, offering commercial lines, surety bonds, excess and surplus, and reinsurance to midsize and large businesses through roughly 850 independent agencies nationwide.

Ownership category

akta.pro rank

Product category

Commercial Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Agencies and Brokerages (52421)

SIC

Fire, Marine & Casualty Insurance (6331), Surety Insurance (6351), Insurance Carriers, Nec (6399)

akta.pro primary industry

Large Commercial Package (National Accounts) (FSAJAFAC)

akta.pro secondary industries

Commercial General Liability (CGL) (FSAJADAA), Commercial Excess Liability (Large Accounts) (FSAJANAG), Standalone Umbrella Liability (FSAJANAE), Technology Errors & Omissions (Tech E&O) / Professional Liability (FSAJAOAC), Professional Liability (E&O) Reinsurance (FSAOADAH), Commercial Auto & Fleet Liability Insurance (Primary) (TLABANAA)

Keywords

• Commercial property insurance
• Surety bond underwriting
• Excess surplus lines
• Workers compensation coverage
• Reinsurance services

Headquarters

HQ city

Cedar Rapids

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Supply Chain, Others

Revenue model

1. Property and Casualty Insurance Premiums: UFG generates revenue primarily through writing property and casualty insurance policies, collecting premiums from policyholders. The company reported record third quarter net written premium of $328 million and net income of $39.2 million for Q3 2025.
2. Senior Notes Offering: UFG completed a private offering of $30 million in senior notes due 2039, with proceeds supporting growth and corporate purposes.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

UFG Insurance is a property and casualty insurer that underwrites commercial insurance (commercial auto, property, general and excess liability, umbrella, workers compensation, cyber, inland marine), surety bonds, excess and surplus lines, and reinsurance products. Coverage is sold through approximately 850 independent insurance agencies across all 50 U.S. states, with the company's reinsurance division also accepting business from other carriers.

Product overview

UFG Insurance is a property and casualty insurance company offering a comprehensive portfolio of commercial insurance products and surety bonding services. The core products include Business Insurance (commercial auto, property, liability, umbrella, workers comp), Surety Bonds (contract and commercial), Excess and Surplus lines, Reinsurance, and specialized coverage including Cyber and Inland Marine. The company serves middle market businesses through its dedicated middle market business unit. Surety offerings include the ufgQuick credit-based bonding program for new/small contractors and traditional underwriting for established contractors. Additional services include Risk Control, Claims Capabilities, Premium Audit, and Service Center, all supported by the UFG Marketing Solutions agent portal.

Differentiator

Problem solved

Functional benefit

Brands

• ufgQuick: Credit-based surety bond underwriting program for new or infrequent surety bond users, providing single bonds and aggregate bonded-up to $750,000 with immediate response.
• ArtisanPro

Products and services

• Business Insurance Comprehensive commercial insurance coverage for midsize and large businesses, bundling commercial auto, property, general and excess liability, umbrella, workers compensation, and other commercial lines into a single carrier relationship. Targeted at companies needing coordinated, multi-line coverage across properties, vehicles, and operations.
• Surety Bonds Contract surety bonds (bid, payment, performance, and maintenance) plus commercial surety for contractors of virtually any size. Underwritten through both the ufgQuick instant-indication program and traditional underwriting for larger or more complex accounts.
• ufgQuick Online credit-based surety underwriting program that delivers instant indications and fast bond issuance for eligible contractors and commercial principals, bypassing the slower traditional underwriting queue for smaller and straightforward surety risks.
• Middle Market Insurance Specialized commercial insurance solutions designed for midsize and large businesses across industry segments including manufacturing, real estate, services, architects and engineers, heavy equipment dealers, and wholesale distribution, combining industry-specific underwriting with risk control and claims services.
• Excess and Surplus Lines E&S lines coverage for risks that do not fit standard admitted markets, offering flexible underwriting for non-standard, unusual, or higher-hazard commercial exposures typically placed through wholesale brokers and managing general agents.
• Reinsurance Reinsurance of property, casualty, and surety business accepted from other insurance companies and reinsurers worldwide, used as a portfolio diversification and capacity tool by UFG.
• Businessowners Policy (BOP) Bundled businessowners policy combining commercial property and liability coverages into a single package for eligible small-to-mid-sized businesses.
• Commercial Property Insurance Commercial property insurance for direct physical loss and damage to business properties, buildings, and business personal property.
• Commercial Liability Insurance Commercial general liability coverage for bodily injury, property damage, and personal and advertising injury exposures arising from business operations.
• Workers Compensation Insurance Workers compensation insurance covering employee work-related injuries and occupational disease, providing wage-replacement and medical benefits.
• Cyber Insurance Cyber liability insurance providing coverage for data breach, cyber extortion, and other digital exposures faced by businesses.
• Inland Marine Insurance Inland marine insurance covering goods and equipment in transit, mobile equipment, and other property typically moved or stored off-premises.
• ArtisanPro Specialty BOP-style program for artisan contractors such as plumbers, electricians, HVAC contractors, and landscapers, packaging general liability, property, inland marine, commercial auto, workers compensation, umbrella, cyber, and surety coverages into a tailored artisan-contractor solution.
• Risk Control Services In-house risk control services delivered to UFG policyholders, providing loss-prevention consultations, safety guidance, and risk-improvement recommendations to help businesses reduce exposures.
• Claims Capabilities Claims handling capabilities providing in-house claims adjustment, online claims reporting with digital document upload, and ongoing claim support for UFG policyholders and claimants.
• Premium Audit Premium audit services that review and validate the payroll, sales, or other auditable exposures underlying workers compensation and other auditable policies at year-end and at policy term changes.
• Service Center Service Center providing policy service support to agents and policyholders for endorsements, billing questions, certificates, and other policy-servicing requests.

Quantifiable outcome

• Record Q3 2025 net written premium of $328 million
• +1 more outcomes

Segments8 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Scale indicators11 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Cincinnati Financial: Cincinnati Financial (CINF) is a mid-size publicly traded P&C carrier with a strong independent-agent distribution model and similar emphasis on commercial lines for middle-market businesses — directly comparable in scale, channel, and customer profile to UFG.
• Hanover Insurance Group: Hanover (THG) writes commercial and personal P&C through independent agents with a comparable middle-market commercial focus, including specialty lines like surety and inland marine — closely aligned with UFG's product mix and distribution.
• Selective Insurance Group: Selective (SIGI) is a similar-size commercial P&C carrier distributed through independent agents with deep regional and middle-market focus. Its standard and excess & surplus lines parallel UFG's commercial package and E&S offerings.
• RLI Corp: RLI is a specialty P&C insurer with strength in commercial property, casualty, and surety distributed through wholesale and retail agents — comparable to UFG in specialty-line emphasis and underwriting-driven culture.
• Markel Group: Markel writes specialty commercial insurance including surety and E&S lines through diverse distribution channels. Its specialty-insurance discipline and agent relationships position it as a comparable specialty carrier to UFG.
• Donegal Group: Donegal Group (DGICA/DGICB) is a regional P&C carrier of similar scale distributed primarily through independent agents, with a comparable commercial-lines emphasis on middle-market and small-business accounts.
• EMC Insurance: EMC Insurance (EMCI) is a comparable mid-size P&C carrier focused on commercial lines distributed through independent agents, with similar regional concentration in the Midwest — directly comparable in scale and channel.
• Kinsale Capital: Kinsale (KNSL) is a specialty E&S commercial carrier that competes with UFG's excess and surplus book and shares a high-margin underwriting focus, though distributed more through wholesale brokers.

Broad incumbents

• American Financial Group: American Financial Group (AFG) is a larger specialty P&C and surety-focused organization with greater scale and a broader portfolio, including significant surety operations that overlap with UFG's surety franchise.
• Travelers: Travelers (TRV) is one of the largest U.S. P&C incumbents with broad commercial lines including middle-market accounts and surety. It competes with UFG on the upper end of UFG's middle-market and large-account segment.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/UFGInsurance
• LinkedInlinkedin.com/company/ufginsurance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about UFG Insurance