United Fire Group has reported a net income of $16.89m, or $0.66 per diluted share, for the fourth quarter of 2011, up 46.3%, compared to $11.54m, or $0.44 per diluted share, for the same period in 2010.
The total revenues for the fourth quarter of 2011 increased 27.7% to $191.55m, compared to $150.02m for the same period a year ago.
Operating income was $15.95m, compared to $10.18m for the same period in the previous year.
Total net premiums written in the property and casualty insurance segment increased $48m to $138.75m, compared to $90.72m for the same period in the last year.
Net premiums earned in the life insurance segment increased 5.2% during the quarter.
United Fire Group president and CEO Randy Ramlo said that as many in the industry have noted, 2011 will be remembered for its devastating catastrophes, both domestic and abroad.
"According to various reports, it was the costliest catastrophe year on record for the property and casualty insurance industry globally and United Fire Group was affected by losses in our direct and assumed books of business that negatively impacted our full year results," added Ramlo.