UNITED FIRE GROUP INC
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 26, 2025
UFCS$51.51+5.4%Stored close · as of Nov 10, 2026
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Item 15. Exhibits and Financial Statement Schedules
We have filed the following documents as part of this Annual Report on Form 10-K:
| Page | |
|---|---|
| (a) 1. Financial Statements | |
| Consolidated Balance Sheets at December 31, 2024 and 2023 | 58 |
| Consolidated Statements of Income for the three years ended December 31, 2024 | 59 |
| Consolidated Statements of Comprehensive Income for the three years ended December 31, 2024 | 60 |
| Consolidated Statement of Stockholders' Equity for the three years ended December 31, 2024 | 61 |
| Consolidated Statements of Cash Flows for the three years ended December 31, 2024 | 62 |
| Notes to Consolidated Financial Statements | 64 |
| (a) 2. Financial Statement Schedules required to be filed by Item 8 of this Form: | |
| Schedule I. Summary of Investments — Other than Investments in Related Parties | 130 |
| Schedule II. Condensed Financial Statements of Parent Company | 131 |
| Schedule III: Supplementary Insurance Information | 134 |
| Schedule IV: Reinsurance | 135 |
| Schedule V: Valuation and Qualifying Accounts | 136 |
| Schedule VI: Supplemental Information Concerning Property and Casualty Insurance Operations | 137 |
| All other schedules have been omitted as not required, not applicable, not deemed material or because the information is included in the Consolidated Financial Statements. | |
(a) 3. Exhibit Index:
| Incorporated by reference | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Exhibit number · Exhibit description · Filed herewith · Form · Period ended · Exhibit · Filing date | |||||||||
| 2.1† | Stock Purchase Agreement, dated as of September 18, 2017, between United Fire & Casualty Company and Kuvare US Holdings, Inc. | 8-K | 2.1 | 9/19/2017 | |||||
| 3.1 | Articles of Incorporation of United Fire Group, Inc. | S-4 | Annex II | 5/25/2011 | |||||
| 3.2 | Articles of Amendment to Articles of Incorporation of United Fire Group, Inc. | 8-K/A | 3.1 | 5/26/2015 | |||||
| 3.3 | Amended and Restated Bylaws of United Fire Group, Inc. | 8-K | 3.1 | 2/23/2024 | |||||
| 4.1 | Description of the Registrant's Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 | 10-K | 12/31/2019 | 4.1 | 2/28/2020 | ||||
| 10.1 | * | United Fire & Casualty Company Employee Stock Purchase Plan, Amended and Restated as of November 16, 2007 | 10-K | 12/31/2007 | 10.2 | 2/27/2008 | |||
| 10.2 | * | United Fire & Casualty Company Non-Employee Director Stock Plan | 8-K | 10.1 | 5/22/2020 | ||||
| 10.3 | * | United Fire Group, Inc. Amended and Restated Annual Incentive Plan | 10-K | 12/31/2011 | 10.4 | 3/15/2012 | |||
| 10.4 | * | United Fire & Casualty Company Non-qualified Deferred Compensation Plan | 10-Q | 9/30/2007 | 10.3 | 10/25/2007 | |||
| 10.5 | * | United Fire Group, Inc. 2021 Stock and Incentive Plan (the "Stock Plan") | 8-K | 10.1 | 5/21/2021 | ||||
| 10.6 | * | Form of Non-qualified Stock Option Agreement pursuant to the United Fire & Casualty Company, Inc. Nonqualified Employee Stock Option Plan | 10-K | 12/31/2007 | 10.7 | 2/27/2008 | |||
| 10.7 | * | Form of Stock Option Issued Pursuant to the 2005 Non-Qualified Non-Employee Director Stock Option and Restricted Stock Plan | 10-K | 12/31/2007 | 10.8 | 2/27/2008 | |||
| 10.8 | * | Form of Stock Award Agreement Under the Stock Plan | 8-K | 99.2 | 5/22/2008 | ||||
| 10.9 | * | Form of Non-Qualified Stock Option Agreement for the Purchase of Stock under the Stock Plan | 8-K | 99.3 | 5/22/2008 | ||||
| 10.10 | * | Form of Incentive Stock Option Agreement for the Purchase of Stock under the Stock Plan | 8-K | 99.4 | 5/22/2008 | ||||
| 10.11 | * | Amendment to Non-qualified Stock Option Agreements for John A. Rife pursuant to the Stock Plan | 8-K/A | 99.1 | 2/24/2009 | ||||
| 10.12 | * | Form of United Fire Group, Inc. Restricted Stock Agreement Under the 2005 Non-Qualified Non-Employee Director Stock Option Plan | 10-K | 12/31/2011 | 10.14 | 3/15/2012 | |||
| 10.13 | * | Form of United Fire Group, Inc. Restricted Stock Agreement Under the 2005 Non-Qualified Non-Employee Director Stock Option Plan | 10-Q | 6/30/2016 | 10.1 | 8/3/2016 | |||
| 10.14 | * | United Fire Group, Inc. Plan for Allocation of Equity Compensation to Management Team | 10-K | 12/31/2011 | 10.15 | 3/15/2012 | |||
| 10.15 | * | Deferred Compensation Plan for United Fire Group, Inc. Non-Employee Directors | 8-K | 10.1 | 11/19/2012 | ||||
(a) 3. Exhibit Index (continued):
| Incorporated by reference | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Exhibit number · Exhibit description · Filed herewith · Form · Period ended · Exhibit · Filing date | |||||||||||
| 10.16 | * | Executive Nonqualified Excess Plan | 8-K | 10.1 | 5/22/2014 | ||||||
| 10.17 | * | Executive Nonqualified "Excess Plan" Adoption Agreement | 8-K | 10.2 | 5/22/2014 | ||||||
| 10.18 | * | United Fire & Casualty Company Rabbi Directed Trust Agreement | 8-K | 10.3 | 5/22/2014 | ||||||
| 10.19 | * | Form of United Fire Group, Inc. Change in Control Severance Agreement | 8-K | 10.4 | 5/22/2014 | ||||||
| 10.20 | * | Amendment Number One to United Fire & Casualty Company Nonqualified Deferred Compensation Plan | 8-K | 10.5 | 5/22/2014 | ||||||
| 10.21 | * | Form of Non-Qualified Employee Stock Option Agreement for Purchase of Stock Under the United Fire Group, Inc. 2008 Stock Plan | 10-Q | 6/30/14 | 10.7 | 8/5/2014 | |||||
| 10.22 | * | Form of Stock Award Agreement under the United Fire Group, Inc. Stock Plan | 10-Q | 6/30/14 | 10.8 | 8/5/2014 | |||||
| 10.23 | * | Form of Stock Award Agreement (Restricted Stock Units-Performance Units) Under the Stock Plan | 10-Q | 3/31/17 | 10.1 | 5/3/2017 | |||||
| 10.24 | * | Form of Stock Award Agreement (Restricted Stock Units) under the United Fire, Group, Inc. Non-Employee Director Stock Plan | 10-Q | 6/30/2020 | 10.2 | 8/5/2020 | |||||
| 10.25 | * | United Fire Group, Inc. 2021 Stock and Incentive Plan Performance-Based Restricted Stock Unit Award Notice | 10-Q | 9/30/2021 | 10.1 | 11/4/2021 | |||||
| 10.26 | * | United Fire Group, Inc. 2021 Stock and Incentive Plan Option Award Notice | 10-Q | 9/30/2021 | 10.2 | 11/4/2021 | |||||
| 10.27 | * | United Fire Group, Inc. 2021 Stock and Incentive Plan Restricted Stock Unit Award Notice | 10-Q | 9/30/2021 | 10.3 | 11/4/2021 | |||||
| 10.28 | * | Executive Employment Offer Letter, dated January 5, 2023, between United Fire Group, Inc and Julie Stephenson (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on January 5, 2023 8-K) | 8-K | 10.1 | 1/5/2023 | ||||||
| 10.29 | * | Amended Executive Employment Offer Letter, dated March 1, 2023, between United Fire Group, Inc. and Julie Stephenson | 10-Q | 3/31/2023 | 10.1 | 5/9/2023 | |||||
| 10.30 | * | Amended Form of Restricted Stock Unit Agreement and Award Notice pursuant to the Company's 2021 Stock and Incentive Plan | X | ||||||||
| 10.31 | * | Investment Management Agreement, dated January 31, 2024 by and between United Fire Group, Inc. and New England Asset Management | 8-K | 10.1 | 2/1/2024 | ||||||
| 10.32† | * | Master Note Purchase Agreement, dated as of May 31, 2024, by and among the Company and the Purchasers | 8-K | 10.1 | 6/6/2024 | ||||||
| 19 | United Fire Group, Inc. Insider Trading Policy | X | |||||||||
(a) 3. Exhibit Index (continued):
| Incorporated by reference | ||||||
|---|---|---|---|---|---|---|
| Exhibit number | Exhibit description | Filed herewith | Form | Period ended | Exhibit | Filing date |
| 21.0 · Subsidiaries of the Registrant · X | ||||||
| 23.1 · Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm · X | ||||||
| 31.1 · Certification of Kevin Leidwinger Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 · X | ||||||
| 31.2 · Certification of Eric J. Martin Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 · X | ||||||
| 32.1 · Certification of Kevin Leidwinger Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 · X | ||||||
| 32.2 · Certification of Eric J. Martin Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 · X | ||||||
| 97.0 | United Fire Group, Inc. Clawback Policy | 10-K | 12/31/2023 | 97.0 | 2/29/2024 | |
| 101.1 | The following financial information from United Fire Group, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2024 formatted in Inline eXtensible Business Reporting Language (Inline XBRL): (i) Consolidated Balance Sheets at December 31, 2024 and 2023; (ii) Consolidated Statements of Income for the years ended December 31, 2024, 2023 and 2022; (iii) Consolidated Statements of Comprehensive Income for the years ended December 31, 2024, 2023 and 2022; (iv) Consolidated Statement of Stockholders' Equity for the years ended December 31, 2024, 2023 and 2022; (v) Consolidated Statements of Cash Flows for the years ended December 31, 2024, 2023 and 2022; and (vi) Notes to Consolidated Financial Statements. | X | ||||
| 104.1 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101.1) | |||||
*Indicates a management contract or compensatory plan or arrangement.
† The schedules to this Exhibit have been omitted in accordance with Regulation S-K Item 601(b)(2). The registrant agrees to furnish a copy of all omitted schedules to the SEC upon its request.
Certain instruments defining the rights of holders of long-term debt securities of the Company are omitted pursuant to Item 601(b)(4)(iii) of
Regulation S-K. The Company hereby undertakes to furnish to the SEC, upon request, copies of any such instruments.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.