United Fire Group recorded a strong second quarter with earnings jumping 41 percent and revenues rising 10 percent over the same quarter of 2014.The Cedar Rapids-based insurer on Tuesday reported net income of $15 million, or 59 cents per share, for the quarter that ended on June 30, compared with net income of $10.7 million, or 42 cents per share, for the same period in 2014.Revenue rose 10 percent to $255.9 million in the second quarter of 2015 from $232.7 million in the same quarter last year.Net income for the company’s property and casualty insurance segment totaled $13.3 million, or 52 cents per share, for the second quarter, compared with $9.5 million, or 37 cents per share, in the same period of 2014.Catastrophe losses totaled $20.2 million, or 52 cents per share after tax, for the second quarter, compared with $20.6 million, or 53 cents per share after tax, for the same period in 2014.
United Fire Profit Jumps 41 Percent In 2nd Quarter, Premiums For New Business Remain Strong
Local News from TheGazette.com, The Gazette (Cedar Rapids)
Tue, 08/04/2015 - 2:37pm
Sections: u.s.
Topics: Iowa Linn County Cedar Rapids
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