UNITED FIRE GROUP INC - FORM 8-K - EX-99 - EXHIBIT 99.2

file	filename
8-K - FORM 8-K - UNITED FIRE GROUP INC	f8k_050211.htm
EX-99 - EXHIBIT 99.1 - UNITED FIRE GROUP INC	exh_991.htm

Exhibit 99.2

Supplemental Tables

The following table displays our consolidated results of operations for the three-month period ended March 31, 2011 and 2010.

Income Statement:	Three Months Ended March 31,
(In Thousands)	2011		2010
Revenues
Net premiums written (1)	$	123,159	$	119,436
Net premiums earned	$	114,204	$	114,308
Investment income, net of investment expenses		27,063		27,968
Net realized investment gains
Other-than-temporary impairment charges		-		(342	)
All other net realized gains		2,653		3,068
Total net realized investment gains		2,653		2,726
Other income		156		123
Total Revenues	$	144,076	$	145,125

Benefits, Losses and Expenses
Losses and loss settlement expenses	$	76,182	$	68,363
Increase in liability for future policy benefits		8,182		6,390
Amortization of deferred policy acquisition costs		26,046		26,516
Other underwriting expenses		16,057		8,807
Disaster charges and other related expenses, net of recoveries		-		(23	)
Interest on policyholders’ accounts		10,670		10,801
Total Benefits, Losses and Expenses	$	137,137	$	120,854

Income before income taxes		6,939		24,271
Federal income tax expense		1,129		4,879
Net income	$	5,810	$	19,392
(1) The Statutory Financial Measures section of our May 2, 2011 press release defines data prepared in accordance with statutory accounting practices, which is a comprehensive basis of accounting other than U.S. GAAP.

The following tables display our net premiums written by line of business for the three-month periods ended March 31, 2011 and 2010.

	Three Months Ended March 31,
(In Thousands)	2011		2010
Net Premiums Written
Commercial lines:
Other liability (1)	$	30,293	$	29,148
Fire and allied lines (2)		25,948		25,582
Automobile		24,381		24,440
Workers’ compensation		15,239		13,600
Fidelity and surety		3,495		4,051
Miscellaneous		226		222
Total commercial lines	$	99,582	$	97,043

Personal lines:
Fire and allied lines (3)	$	5,821	$	5,568
Automobile		3,961		3,637
Miscellaneous		139		119
Total personal lines	$	9,921	$	9,324
Reinsurance assumed		1,223		757
Total	$	110,726	$	107,124
(1) “Other liability” is business insurance covering bodily injury and property damage arising from general business operations, accidents on the insured’s premises and products manufactured or sold.
(2) “Fire and allied lines” includes fire, allied lines, commercial multiple peril and inland marine.
(3) “Fire and allied lines” includes fire, allied lines, homeowners and inland marine.

The following tables display our premiums earned, losses and loss settlement expenses and loss ratio by line of business for the three-month periods ended March 31, 2011 and 2010.

Three Months Ended March 31,
	2011								2010
(In Thousands) Unaudited	Premiums Earned		Losses and Loss Settlement Expenses Incurred			Loss Ratio			Premiums Earned		Losses and Loss Settlement Expenses Incurred			Loss Ratio
Commercial lines
Other liability	$	27,929	$	11,181			40.0	%	$	28,214	$	18,841			66.8	%
Fire and allied lines		23,898		19,668			82.3			24,384		19,799			81.2
Automobile		22,694		13,658			60.2			23,010		13,830			60.1
Workers’ compensation		11,638		9,891			85.0			11,218		4,278			38.1
Fidelity and surety		4,061		(9	)		(0.2	)		4,679		209			4.5
Miscellaneous		203		217			106.9			202		36			17.8
Total commercial lines	$	90,423	$	54,606			60.4	%	$	91,707	$	56,993			62.1	%

Personal lines
Fire and allied lines	$	6,247	$	2,199			35.2	%	$	5,979	$	2,067			34.6	%
Automobile		3,744		1,863			49.8			3,467		2,881			83.1
Miscellaneous		123		2			1.6			87		(27	)		(31.0	)
Total personal lines	$	10,114	$	4,064			40.2	%	$	9,533	$	4,921			51.6	%
Reinsurance assumed		1,227		12,995		NM %				739		1,714			231.9	%
Total	$	101,764	$	71,665			70.4	%	$	101,979	$	63,628			62.4	%

UNITED FIRE GROUP INC - FORM 8-K - EX-99 - EXHIBIT 99.2 - May 2, 2011