United Fire Group, Inc

Good morning. My name is Gary, and I'll be your conference operator today. At this time, I would like to welcome everyone to the UFG Insurance Third Quarter 2025 Financial Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your telephone keypad. To withdraw your question, please press star, then two. Please note, this event is being recorded. Thank you. I will now turn the call over to UFG Vice President of Investor Relations, Tim Borst. Please go ahead.

Good morning and thank you for joining this call. Yesterday afternoon, we issued a press release on our results. To find a copy of this document, please visit our website at ufginsurance.com. Press releases and slides are located under the Investors tab. Joining me today on the call are UFG President and Chief Executive Officer Kevin Lidewinger, Executive Vice President and Chief Operating Officer Julie Stevenson, and Executive Vice President and Chief Financial Officer Eric Martin. Before I turn the call over to Kevin, a couple of reminders. First, please note that our presentation today may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations, estimates, forecasts, and projections about the company, the industry in which we operate, and beliefs and assumptions made by management. The company cautions investors that any forward-looking statement includes risks and uncertainties and are not a guarantee of future performance. Any forward-looking statement made by us in this presentation is based only on information currently available to us and speaks only as of the date on which it is made. These forward-looking statements are based on management's current expectations, and the company assumes no obligation to update any forward-looking statements. The actual results may differ materially due to a variety of factors which are described in our press release and SEC filings, discussed specifically in our most recent annual report on Form 10-K. Also, please note that in our discussion today, we may use some non-GAAP financial measures. Reconciliations of these measures to the most comparable GAAP measures are also available in our press release and SEC filings. At this time, I will turn the call over to Mr. Kevin Leidwinger, CEO of UFG Insurance.

Thank you, Tim. Good morning, everyone, and thank you for joining us today. We had an outstanding quarter as reported in our press release yesterday. Our third quarter net income increased to $39.2 million, nearly doubling from prior year, and is the highest net income we've produced in a quarter in at least 20 years. We also achieved a 91.9% combined ratio in the quarter, our best third quarter underwriting result in nearly 20 years, and we grew net written premium to a third quarter record of $328 million. While prior period development was neutral overall in the quarter, favorable development in several lines of business afforded us the opportunity to once again advance our reserves to a more conservative position in our range of actuarial estimates, continuing to reinforce the portfolio and strengthen our balance sheet. Finally, and equally important, through the first nine months of 2025, we've achieved a return on equity of 12.7%, the company's best year-to-date financial performance in nearly two decades. These milestones reflect the progress we've made over the past three years and the work we've done to transform the company by deepening our underwriting expertise, evolving our capabilities to serve a more expansive customer base, driving better alignment with our distribution partners, improving investment returns, and stabilizing reserves. Before I turn the call over to Julie Stevenson to discuss our underwriting results in more detail, let me say just how immensely proud I am of our people who have embraced change, developed new skills, and shown great resilience as we've evolved the company in pursuit of superior financial and operational performance. We are well positioned through the continued strategic execution of our business plan to carry our momentum through the end of the year and into 2026 when we will proudly mark the company's 80th year in business. Julie?