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United Fire Group Inc  (UFCS)
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United Fire Group Inc's

Competitiveness


 

UFCS Sales vs. its Competitors Q1 2021



Comparing the results to its competitors, United Fire Group Inc reported Total Revenue increase in the 1 quarter 2021 by 69.14 % year on year.
The sales growth was above United Fire Group Inc's competitors average revenue growth of 13.38 %, recorded in the same quarter.

List of UFCS Competitors

With net margin of 6.22 % company reported lower profitability than its competitors.

More on UFCS Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


United Fire Group Inc achieved net profit of $19 millions compare to net loss of $-73 millions recorded in same quarter a year ago.

<<  More on UFCS Income Comparisons


United Fire Group Inc's Comment on Competitors and Industry Peers


We encounter significant competition in all lines of our life and fixed annuity business from other life insurance companies and other providers of financial services. Since our products are marketed exclusively through independent life insurance agencies that typically represent more than one company, we face competition within our agencies. Competitors include companies that market their products through agents, as well as companies that sell directly to their customers. The exact number of competitors within the industry is not known.


To attract and maintain relationships with our independent life insurance agencies, we offer competitive commission rates and other sales incentives. Our life insurance segment achieves a competitive advantage by offering products that are simple and straightforward, by providing outstanding customer service, by being accessible to our agents and customers, and by using technology in a variety of ways to assist our agents and improve the delivery of service to our policyholders.

he property and casualty insurance industry is highly competitive. We compete with numerous property and casualty insurance companies in the regional and national market, many of which are substantially larger and have considerably greater financial and other resources. Except for regulatory considerations, there are limited barriers to entry into the insurance industry. Our competitors may be domestic or foreign, as well as licensed or unlicensed. The exact number of competitors within the industry is not known. Insurers compete on the basis of reliability, financial strength and stability, ratings, underwriting consistency, service, business ethics, price, performance, capacity, policy terms and coverage conditions.
In addition, because our products are marketed exclusively through independent insurance agencies, most of which represent more than one company, we face competition within each agency and competition to retain qualified independent agents. Our competitors include companies that market their products through agents, as well as companies that sell insurance directly to their customers.





  

Overall company Market Share Q1 2021

Due to outstanding performance in Overall company, revenue grew by 69.14 % United Fire Group Inc improved its market share, to approximate 0.12 %.





<<  More on UFCS Market Share.
 

*Market share calculated with total revenue.


UFCS's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
United Fire Group Inc 1,192 829 -21 1,057
Allstate Corp 47,166 42,596 3,640 38,800
American International Group Inc 43,747 45,189 -3,553 65,000
Chubb Ltd 38,268 0 5,581 0
Cincinnati Financial Corporation 9,862 19,509 3,062 4,305
Progressive Corp 42,688 62,540 5,500 26,501
Safeco Corporation 0 0 0 0
Metlife Inc 65,094 57,736 1,380 66,000
The Hartford Financial Services Group Inc 20,866 24,090 1,692 17,500
Assurant Inc 9,962 9,988 450 17,600
Loews Corp 13,106 15,651 46 17,510
Xl Group Ltd 11,388 1,627 -543 4,663
Travelers Companies inc 32,174 40,720 3,350 30,200
Berkshire Hathaway Inc 245,728 521,415 18,963 0
Leaf Group Ltd 231 300 -4 0
Triple s Management Corporation 3,899 587 117 3,257
National Security Group Inc 68 28 -7 1
Brown and Brown Inc 2,730 14,904 528 7,807
Tiptree Inc 718 410 66 929
Arch Capital Group Ltd 9,257 16,541 2,030 2,030
Amtrust Financial Services, Inc. 6,800 2,905 291 6,200
Aspen Insurance Holdings Limited 2,836 0 -40 0
Aspira Womens Health Inc -641 550 -92 1,433
Axis Capital Holdings Ltd 4,982 4,772 181 1,225
Protective Insurance Corporation 518 328 40 0
Conifer Holdings Inc 108 26 1 133
China United Insurance Service Inc 124 55 3 2,239
Donegal Group Inc 791 456 60 0
Emc Insurance Group Inc. 722 780 32 1
Endurance Specialty Holdings Ltd. 2,539 0 283 1,154
Essent Group Ltd 971 5,400 399 366
First Acceptance Corp 348 34 -9 1,400
Fednat holding company 369 63 -100 297
Enstar Group Ltd 1,897 5,405 1,096 1,327
Global Indemnity Group Llc 655 431 29 460
Homeowners Of America Holding Corp 0 0 0 56
Hallmark Financial Services inc 492 75 -18 411
Hci Group Inc 350 626 34 225
Horace Mann Educators Corporation 1,326 1,657 154 1,350
Heritage Insurance Holdings Inc 608 240 -3 247
Infinity Property & Casualty Corp 1,345 1,658 33 2,300
James River Group Holdings Ltd 658 1,033 -166 367
Kingsway Financial Services Inc 66 110 -2 305
Kingstone Companies Inc 131 87 1 69
Kemper Corporation 5,329 5,156 591 5,600
Mercury General Corporation 4,069 3,698 621 4,500
Markel Corporation 12,300 16,397 2,813 10,600
National Interstate Corp 0 0 0 715
Navigators Group Inc 1,527 2,090 2 675
National General Holdings Corp 5,552 3,976 524 4,630
Onebeacon Insurance Group, Ltd. 1,242 1,734 147 1,150
Old Republic International Corporation 6,911 7,849 541 8,200
Fg Financial Group Inc -13 15 -14 22
Proassurance Corporation 898 1,363 -146 938
Rli Corp 1,153 4,968 291 902
Safety Insurance Group inc 887 1,280 176 622
State National Companies, Inc. 237 908 55 400
State Auto Financial Corporation 1,680 861 131 2,065
Hanover Insurance Group Inc 5,054 5,265 491 4,800
Stancorp Financial Group Inc 2,860 0 229 2,767
Aflac Incorporated 22,854 39,039 5,505 9,235
Aon Plc 11,381 58,211 2,160 69,000
Truist Financial Corporation 21,086 84,281 4,902 0
Lincoln National Corporation 17,547 13,611 672 9,627
Principal Financial Group inc 14,185 18,491 1,453 14,873
Prudential Financial Inc 60,521 43,741 2,928 48,331
Unum Group 13,363 6,300 785 9,500
Cigna Corporation 162,903 93,133 8,471 37,200
Aetna Inc 60,705 70,069 3,503 48,800
Mbia Inc 251 448 -603 252
Genworth Financial Inc 8,806 2,112 479 5,300
Firstmerit Corp 956 0 185 4,112
International Bancshares Corporation 498 3,167 183 2,822
Mb Financial Inc 955 3,598 331 2,980
Old National Bancorp 835 3,250 291 2,652
Trustmark Corp 690 2,186 190 2,941
Investors Heritage Capital Corp 63 49 1 1
Security National Financial Corporation 481 180 56 1,271
American Independence Corp. 0 0 0 268
Atlantic American Corp 205 79 20 147
Cno Financial Group Inc 4,110 3,796 470 3,500
Partnerre Ltd 7,876 0 254 1,035
American National Group Inc 4,461 3,933 859 4,736
Citizens Inc 239 286 -11 620
Fbl Financial Group Inc 788 1,493 103 1,637
Fidelity & Guaranty Life 1,585 1,532 243 220
First Trinity Financial Corp 53 0 2 9
Kansas City Life Insurance Co 484 492 30 436
National Western Life Group Inc 873 909 157 261
Protective Life Corporation 5,799 0 457 2,541
Phoenix Companies Inc 0 0 0 630
Symetra Financial Corporation 2,111 0 210 1,400
Utg Inc 64 89 31 42
Voya Financial Inc 3,462 8,980 663 7,000
United Insurance Holdings Corp 832 248 -101 119
Unico American Corp 33 25 -21 86
Universal Insurance Holdings Inc 1,100 452 25 392
W R Berkley Corp 7,776 0 768 7,621
White Mountains Insurance Group ltd 1,418 0 693 2,973
Alleghany Corp 10,067 10,048 726 3,135
Midwest Holding Inc -14 161 -36 0
SUBTOTAL 1,127,229 1,431,296 87,966 681,016


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