United Life Insurance, a subsidiary of United Fire & Casualty, has reported a net loss of $47.76m or $0.19 per share for the third quarter of 2011, compared to net income of 29.23m or $0.11 per share in the same quarter last year.
Total revenues were $187.5m for the third quarter of 2011, compared to $147.9m for the same period last year.
United Fire & Casualty’s net premiums earned were $158.7m for the third quarter of 2011, compared to $119.1m for the same quarter in 2010.
United Fire president and CEO Randy Ramlo said the first two quarters of this year were marked by significant catastrophe losses, and unfortunately, the third quarter continued that trend with losses for the quarter totaling $23.7m.