8-K
UNITED FIRE GROUP INC (UFCS)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 23, 2022
United Fire Group Inc.
(Exact name of registrant as specified in its charter)
| Iowa | 001-34257 | 45-2302834 | ||||
|---|---|---|---|---|---|---|
| (State of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | 118 Second Avenue SE | |||
| --- | --- | --- | ||||
| Cedar Rapids | Iowa | 52401 | ||||
| (Address of principal executive offices) (Zip Code) |
Registrant's telephone number, including area code: (319) 399-5700
_______________________N/A________________________
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities Registered Pursuant to Section 12(b) of the Exchange Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.001 par value | UFCS | The NASDAQ Global Select Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 23, 2022, United Fire Group, Inc. (the "Company" or "UFG") announced that the Company's Board of Directors appointed Mark A. Green as a Class C director, and Matthew R. Foran as a Class B director, effective February 18, 2022. Green has been appointed to the Risk and Compensation and Human Capital Committees, and Foran has been appointed to the Risk and Investment Committees. Both Green and Foran will stand for election by the Company shareholders at the Company's Annual Meeting of Shareholders on May 18, 2022.
Item 7.01 Regulation FD Disclosure.
On February 23, 2022, the Company issued a press release announcing the appointment of two new directors of United Fire Group, Inc., and the election of three new officers of United Fire & Casualty Company, a subsidiary of United Fire Group, Inc. A copy of the Company’s press release announcing the appointment of new directors and election of new officers is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit 99.1 | Press release of United Fire Group, Inc. dated February 23, 2022. |
|---|---|
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document.) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| United Fire Group, Inc. | ||
|---|---|---|
| (Registrant) | ||
| Dated: | February 23, 2022 | /s/ Randy A. Ramlo |
| Randy A. Ramlo, Chief Executive Officer |
1
Document
Exhibit 99.1
UFG adds new directors to enhance board expertise and elects new company officers
CEDAR RAPIDS, Iowa — February 23, 2022 — United Fire Group, Inc. (Nasdaq: UFCS) (“UFG”) today announced the appointment of two new independent members to the Board of Directors, effective February 18, 2022. Mark Green has been appointed a Class C Director, and Matthew Foran has been appointed a Class B Director. The new directors' collective experience reflects UFG's commitment to delivering on its promise of value to shareholders, and building a culture of innovation.
Mark A. Green is an operating partner at Vistria Group, a private equity firm in Chicago, IL. Green has an extensive background in the insurance sector. Prior to joining Vistria Group in 2021, he served as executive vice president of business development and reinsurance, and executive vice president and president of life and health at Kemper Corporation. From 2009 to 2016, Green gained valuable experience in various roles at Allstate Corporation, including as vice president and senior vice president at Allstate Financial, president of Ivantage from 2013 to 2015, president of Allstate Dealer Services from 2014 to 2015, and president of Encompass Insurance Company from 2015 to 2016. Prior to joining Allstate, Green worked for various other companies in the insurance industry from 1995 to 2009. He holds a bachelor’s degree from Macalester College, and a master of business administration degree from Columbia University. Green has been appointed to serve on the board's Risk and Compensation and Human Capital Committees of the UFG board.
Matthew R. Foran is co-founder and president of Stoic Lane, Inc., a private holding company in Chicago, IL. His strengths include his extensive experience in the insurance technology sector. From 2018 to April of 2021, he led the alternative distribution division of The Hartford Insurance Group. Foran’s background includes serving as leader of IVANS Marketplace at Applied Systems from 2015 to 2018; CEO at EvoSure, LLC, an insurance technology company, from 2012 to 2015; director of strategy and operational planning and execution at Zurich North America from 2009 to 2012; and in a business development role at Marsh USA, Inc. from 2004 to 2009. Foran graduated from the University of Illinois with a degree in Economics. Foran has been appointed to serve on the board's Risk and Investment Committees.
Both Green and Foran will stand for election by the Company shareholders at the company's Annual Meeting of Shareholders on May 18, 2022.
In addition to the appointment of Green and Foran as directors, the Company is pleased to announce the election of each of the following individuals as an assistant vice president of United Fire & Casualty Company:
•Brianne Cummins, Director of Sales & Marketing, Online Underwriting.
•Katherine Mendoza, Corporate Underwriting Manager, Corporate Underwriting.
•Holly Sommerfelt, Product Manager, Corporate Underwriting.
About UFG
Founded in 1946 as United Fire & Casualty Company, UFG, through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance.
Through our subsidiaries, we are licensed as a property and casualty insurer in 50 states, plus the District of Columbia, and we are represented by approximately 1,000 independent agencies. A.M. Best Company assigns a rating of "A" (Excellent) for members of the United Fire & Casualty Group.
For more information about UFG, visit www.ufginsurance.com or contact:
Randy Patten, AVP and Interim Co-Chief Financial Officer, 319-286-2537 or IR@unitedfiregroup.com.