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| Cedar Rapids, Iowa businessman, Scott
McIntyre Sr., was approached by a group of Des Moines, Iowa businessmen for financial assistance in
saving their small fire and automobile insurance company, Ace Mutual Insurance Association. Mr.
McIntyre agreed to do what he could, provided that the company move its headquarters to Cedar Rapids, Iowa.
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| Ace Mutual Insurance Association
moved to Cedar Rapids, Iowa. For the next two years, business was conducted out of one room on the
fourth floor of the Iowa Theatre Building. The company eventually occupied 26,000 square feet in two
buildings at 810 First Avenue NE in Cedar Rapids, Iowa.
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| Mr. McIntyre received a request for financial
assistance from North Central Mutual Association of Boone, Iowa. North Central Mutual Association moved to
Cedar Rapids and merged with Ace Mutual Insurance Association. The corporate name was appropriately
changed to United Mutual Insurance Association. |
| United Mutual Insurance Association seemed
the ideal company on which to build a capital stock insurance firm. So, Mr. McIntyre organized United
Casualty Company, the first casualty insurance company to be successfully organized in Iowa in more
than a quarter century. In the beginning, United Casualty Company could only write automobile and
casualty lines in Iowa. |
| Insurance laws changed to permit multiple-lines
underwriting. United Casualty Company immediately amended its charter to include fire insurance. The word “fire”
was added to the corporate name and United Mutual Insurance Association ceased operations. |
| United Fire & Casualty Company’s Fidelity and Surety
Department was started with a staff of two: an underwriter and a clerk-typist. During its first year, the department
produced $10,282 in written premium. |
| United Life Insurance Company was established to
complement United Fire & Casualty Company’s growing list of products. By October 1963, 55 agents used United Life
Insurance Company regularly. |
| To accommodate growth, United Fire &
Casualty Company purchased a vacant store property at 118 Second Avenue SE in downtown Cedar Rapids,
Iowa, and remodeled it into a modern office building. Eventually, the Security Building, located on
the opposite side of the street, was purchased. These properties remain United Fire Group® 's current
headquarters. |
| United Fire & Casualty Company began its reinsurance
operations. |
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In May 1971, United Fire & Casualty Company held a public stock offering and raised $1.8 million. |
| Lafayette Insurance Company and
Insurance Brokers & Managers Inc. (IB&M) of New Orleans, Louisiana were purchased, serving as the
New Orleans Regional Office. |
| United Fire & Casualty Company
acquired the business of Protective Fire and Casualty Company of Lincoln, Nebraska. It assumed the
name United Fire & Casualty Company and became the Central Plains Regional Office.
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| United Life Insurance Company became
one of the first companies to offer the revolutionary life insurance product, Universal Life, in
their territory. United Life Insurance Company's early entry into the writing of Universal Life
contributed substantially to its growth.
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| The conversion of the Denver office,
which was established in the 1960s, to a full branch office began. It became the Denver Regional
Office. |
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In May 1986, United Fire & Casualty Company held a public stock offering and raised $18 million. |
| United Fire & Casualty Company
acquired Addison Farmers' Insurance Company (now known as Addison Insurance Company) of Lombard,
Illinois. In 1998, Addison Insurance Company's Lombard, Illinois office closed and moved to Cedar
Rapids, Iowa, creating two new offices: Midwest Regional Office and Great Lakes Regional Office.
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| United Fire Group assets exceeded $1 billion.
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| United Fire & Casualty Company
completed the acquisition of American Indemnity Financial Corporation in Galveston, Texas. It became
the Lone Star Regional Office. |
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United Life Insurance Company reached $1 billion in assets in the third quarter 2001.
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| United Fire assets
exceeded $2 billion. |
| United Fire & Casualty
announced its decision to close the Central Plains Regional Office in Lincoln, NE, and
consolidate the business with that of the home office in Cedar Rapids, IA.
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In May 2002, United Fire & Casualty Company held a preferred stock offering and raised over $65 million.
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Effective August 1, 2003, Hull & Company Incorporated, an insurance wholesaler based in Fort Lauderdale, FL,
purchased the business of Insurance Brokers & Managers Inc. from Lafayette Insurance Company.
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Effective June 30, 2004, United Fire & Casualty Company closed the New Orleans Regional Office in New Orleans,
Louisiana, and consolidated its business with that of the company's Lone Star Regional Office in Galveston, Texas.
The Lone Star Regional Office was renamed the Gulf Coast Regional Office. A claims office was established in New Orleans.
Forbes magazine ranked United Fire number 92 among the "200 Best Small Companies," the highest ranking of the three Iowa companies included in the list that year. To qualify, companies had to show a consistent pattern
of positive growth during a five-year period, as well as during the previous 12 months.
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On August 29, 2005, Hurricane Katrina made landfall in New Orleans, Louisiana, devastating much
of the north-central Gulf Coast and killing over 1,800 people before dissipating on August 31.
Hurricane Katrina was the costliest catastrophe in the history of United Fire Group to date,
exceeding $210 million in losses and loss settlement expenses net of reinsurance.
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In May 2006, United Fire issued 4,025,000 shares of common stock, priced at $28.00 per share,
through a public stock offering. Net proceeds to the company were $107.5 million, which were used
for general corporate purposes and to enhance the company’s capital position.
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President & CEO John A. Rife rang the NASDAQ Stock Market Opening Bell on Monday, July 17, 2006, at
the NASDAQ Market Site on Broadway in Times Square, New York City. The bell ringing commemorated
the company’s 20th anniversary of being listed on The NASDAQ Stock Market’s Global Market.
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On May 16, John A. Rife retired as president and chief executive officer of United Fire after leading
the company for a decade. Rife retained his position as president of the subsidiary company, United Life
Insurance Company. As part of its long-term plan of succession, the company named Randy A. Ramlo to the
post of president and chief executive officer. Ramlo became the fifth leader in the company’s history. |
In June 2008, United Fire was forced to temporarily relocate its home office due to damage caused by historic and unprecedented
flooding of the Cedar River, which crested at 31.12 feet on June 13 - nearly 20 feet over flood stage and more than 11 feet
higher than the previous record set in 1929. Home office employees were displaced for more than 11 weeks, with the
majority working from a temporary office outside of Cedar Rapids. The home office reopened in downtown Cedar Rapids on
September 2. Less than two weeks later, on Saturday, September 13, Hurricane Ike struck Galveston, Texas, causing significant damage
to the leased office buildings that make up our Gulf Coast regional office. Gulf Coast employees were forced to relocate to a temporary
office near Houston.
In October, United Fire purchased an adjoining two-story office building at 109 Second Street SE in downtown Cedar Rapids to accommodate its growing workforce in the home office.
United Fire now owns three adjacent office buildings in downtown Cedar Rapids, which comprise the home office. |
J. Scott (Scotty) McIntyre Jr., chairman of United Fire for 34 years and son of the company’s founder, passed away on October 6, 2009, following a brief illness. He was 76.
A prominent figure in the insurance industry, Scotty was well respected for his good business sense and candid outspokenness.
He joined United Fire as a postal clerk in 1954, quickly moving up the corporate ladder. From 1966 to 1997, he served as president of
United Fire and, from 1991 to 2000, he served as chief executive officer. In 1975, he was appointed chairman of the board of directors
of United Fire, serving in that capacity until his death.
As a result of Scotty’s passing, the board of directors elected Jack B. Evans as chairman of the board.
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November: United Fire announces the acquisition of Mercer Insurance Group. If approved, the combined company will be a top U.S. publicly held property casualty insurer, based on 2009 net written premiums.
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On March 28, 2011, United Fire finalized its acquisition of Mercer Insurance Group Inc., which offered commercial and personal lines of insurance to businesses and individuals through a network of independent agencies.
Mercer Insurance marketed its products principally in six Western and Mid-Atlantic states in which United Fire has no appointed property casualty agencies. The combined entity will market through over 1,000 independent
agencies in 43 states, plus the District of Columbia, diversifying exposure to weather and other catastrophe risks across its geographic markets.
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Using a combination of conservative management, progressive leadership and competitive products,
United Fire Group® has grown from a small automobile insurance company into a successful regional carrier.
United Fire & Casualty Company, the parent company of United Fire Group® , was founded in 1946. In addition to United Fire & Casualty Company, United Fire Group® also includes the following wholly owned insurance subsidiaries:
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United Life Insurance Company
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Lafayette Insurance Company
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Addison Insurance Company
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United Fire & Indemnity Company
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United Fire Lloyds
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Mercer Insurance Company
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Mercer Insurance Company of New Jersey, Inc.
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Franklin Insurance Company
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Financial Pacific Insurance Company
Operating through a network of independent agents, we provide insurance protection to individuals,
businesses and organizations. Our complete line of products includes commercial insurance, personal insurance,
life insurance and surety bonds. We are licensed as a property and casualty insurer in 43 states, plus the District of Columbia,
represented by over 1000 independent agencies, and as a life insurer in 28 states,
represented by over 900 independent life agencies. Please use our
Agent Locator to find an agent near you.
Our products are marketed principally through our Home Office in Cedar Rapids, Iowa, and four regional locations:
the Denver Regional Office in Westminster, Colorado; and the Gulf Coast Regional Office in Galveston, Texas; the East Coast Regional Office in Pennington, New Jersey; and
the West Coast Regional Office in Rocklin, California. Other offices are maintained in New Orleans, Louisiana and Lock Haven, Pennsylvania. We currently employ over 800 employees. Please use Contact Us for a mailing address and driving directions for each office.
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United Fire is rated A (Excellent) by A.M. Best Company. For the third consecutive year, United Fire was named a "Top 10 Ease of
Doing Business Performer" for 2010 in Deep Customer Connections Inc.'s (DCC) eighth annual Ease of Doing Business (EDB) survey.
The performance of more than 200 property and casualty carriers was assessed by 7,800 independent agents and brokers. They rated the
importance of 11 key factors, ranging from underwriting responsiveness to handling claims promptly to employing effective, user-friendly
technology. DCC specializes in helping property and casualty carriers achieve profitable growth by making it easy for their agents to work
with them. DCC's EDB Index® is an industry benchmark of carriers' EDB performance.
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United Fire has also been named one of the Most Trustworthy
Publicly Traded Companies in America, a list compiled through a partnership with Forbes and Audit Integrity. According to the stringent Audit
Integrity standards for transparency and fair governance, less than five percent of the entire U.S. stock market qualifies for inclusion on the list.
Our subsidiary, United Life Insurance Company, is licensed in 28 states, represented by over 900 independent life agencies, and has been named to the Ward's 50 Life & Health Insurance Companies for five consecutive years (2006-2010).
Our common stock is listed on the
NASDAQ exchange under "UFCS." We have paid dividends every quarter
since March 1968.
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Copyright © 2011 United Fire &
Casualty Company.
All Rights reserved.
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