United Fire Group, Inc. (NASDAQ:UFCS) Q1 2022 Earnings Conference Call May 5, 2022 10:00 AM ET

Company Participants

Randy Patten - Assistant Vice President and Corporate Controller

Randy Ramlo - Chief Executive Officer

Mike Wilkins - Chief Operating Officer

Micah Woolstenhulme - Chief Risk Officer

Conference Call Participants

Marla Backer - Sidoti

Paul Newsome - Piper Sandler

Operator

Good day and welcome to the United Fire Group Insurance 2022 First Quarter Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Randy Patten, Assistant Vice President and Corporate Controller. Please go ahead.

Randy Patten

Good morning, everyone and thank you for joining this call. This morning, we issued a news release on the results. To find a copy of this document, please visit our website at ufginsurance.com. Press releases and slides are located under the Investor Relations tab. Joining me today on the call are Chief Executive Officer, Randy Ramlo and Chief Operating Officer Mike Wilkins. We also have other members of management available to answer questions at the end of our prepared remarks.

Before I turn the call over to Randy Ramlo, a couple of reminders. First, please note that our presentation today may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The company cautions investors that any forward-looking statements include risks and uncertainties and are not a guarantee of future performance. These forward-looking statements are based on management’s current expectations. The actual results may differ materially due to a variety of factors which are described in our press release in SEC Filings. Also, please note that in our discussion today, we may use some non-GAAP financial measures. Reconciliations of these measures to the most comparable GAAP measures are also available in our press release and SEC Filings.

At this time, I will now turn the call over to Mr. Randy Ramlo, CEO of UFG Insurance.

Randy Ramlo

Thanks, Randy. Good morning, everyone and welcome to our first quarter 2022 conference call. Today, I am pleased to report strong results for the first quarter of 2022 which I am confident in saying is a direct result of our: one, UFG strategic plan and initiatives aimed at improved profitability. For the second consecutive quarter, we have reported a combined ratio under 90%. This marks the first time in 7 years that we have delivered back-to-back quarters with combined ratios below 90% dating back to the fourth quarter of 2014 and the first quarter of 2015.