United Fire Group Inc (NASDAQ: UFCS) saw its stock surge 16.19% in after-hours trading on Tuesday, following the release of its strong fourth-quarter earnings results. The property and casualty insurance company reported adjusted earnings per share of $1.25, beating analyst estimates of $0.76 by a significant margin of 64.47%.
The company's robust performance was driven by improved underwriting profitability, as evidenced by a combined ratio of 94.4% and an adjusted combined ratio of 92.8%. The lower combined ratio indicates better underwriting margins and operational efficiency.
United Fire also reported revenue of $333.18 million for the quarter, exceeding analyst estimates of $327.70 million by 1.67%. The strong top-line growth of 15.96% year-over-year further contributed to the company's solid earnings beat.
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