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Stock Market & Financial Investment News

News Breaks
August 15, 2014
13:17 EDTUFCSUnited Fire & Casualty extends stock repurchase program to August 31, 2016
The board also authorized 1M shares of its common stock in addition to those shares remaining in the program.
News For UFCS From The Last 14 Days
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October 23, 2014
16:41 EDTUFCSUnited Fire & Casualty sees Q3 EPS (3c)-1c, consensus 43c
The company said, "Catastrophe losses for the third quarter are estimated to add approximately 12 percentage points to the combined ratio, which impacts earnings by approximately $0.59 per share. Although third quarter was a rather benign quarter for catastrophic events, during the latter weeks of the second quarter, a significant number of catastrophic events occurred resulting in more carryover claims than originally anticipated. Third quarter catastrophe losses reflect these carryover claims. As a reminder the numerous catastrophe events during second quarter were geographically disbursed and individually insignificant. The losses in aggregate, however, became significant...We currently expect large losses to impact earnings by approximately $0.61 to $0.65 per share. It is not unusual in any given quarter to receive a multi-million dollar fire claim; however, in third quarter 2014, we experienced eight such events. Some were new claims and some were reserve changes due to additional information from prior events."

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