UNITED FIRE GROUP INC
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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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.
FY2025 · Filed Feb 26, 2026
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, 2025 and 2024 | 59 |
| Consolidated Statements of Income for the three years ended December 31, 2025 | 60 |
| Consolidated Statements of Comprehensive Income for the three years ended December 31, 2025 | 61 |
| Consolidated Statement of Stockholders' Equity for the three years ended December 31, 2025 | 62 |
| Consolidated Statements of Cash Flows for the three years ended December 31, 2025 | 63 |
| Notes to Consolidated Financial Statements | 65 |
| (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 | 10-K | 12/31/2024 | 10.30 | 2/26/2025 | |||||
| 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 | ||||||
| 10.33† | Supplement to Master Note Purchase Agreement dated as of July 10, 2025 | 8-K | 10.2 | 7/10/2025 | |||||||
| 10.34 | Amended Form of Restricted Stock Unit Agreement (with dividend equivalents) and Award Notice pursuant to the Company's 2021 Stock Incentive Plan | X | |||||||||
(a) 3. Exhibit Index (continued):
| Incorporated by reference | |||||||
|---|---|---|---|---|---|---|---|
| Exhibit number · Exhibit description · Filed herewith · Form · Period ended · Exhibit · Filing date | |||||||
| 10.35 · Amended Form of Performance-Based Restricted Stock Unit Agreement (with dividend equivalents) and Award Notice pursuant to the Company's 2021 Stock and Incentive Plan · X | |||||||
| 19 | United Fire Group, Inc. Insider Trading Policy | 10-K | 12/31/2024 | 19 | 2/26/2025 | ||
| 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, 2025 formatted in Inline eXtensible Business Reporting Language (Inline XBRL): (i) Consolidated Balance Sheets at December 31, 2025 and 2024; (ii) Consolidated Statements of Income for the years ended December 31, 2025, 2024 and 2023; (iii) Consolidated Statements of Comprehensive Income for the years ended December 31, 2025, 2024 and 2023; (iv) Consolidated Statement of Stockholders' Equity for the years ended December 31, 2025, 2024 and 2023; (v) Consolidated Statements of Cash Flows for the years ended December 31, 2025, 2024 and 2023; 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.
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