United Fire Group (UFG) is a property and casualty insurer focused entirely on commercial lines, selling business insurance to small and middle-market companies across industries including construction, services, retail, financial services, and manufacturing. Core products include business owner packages (covering fire, liability, auto, and workers' compensation) and surety bonds. UFG exited personal lines in 2020 and completed the wind-down by end of 2025. UFG sells exclusively through roughly 850 independent agencies for P&C products and around 160 for surety, competing for both customers and agent loyalty. UFG operates through three distribution channels: Core Commercial (small business, middle market, and construction accounts), Specialty and E&S (niche products through MGAs and wholesale brokers, including marine, professional liability, and Lloyd's syndicates), and Alternative Distribution (treaty reinsurance, insurance programs, and Lloyd's funds). Like all P&C insurers, UFG earns money by collecting premiums upfront, paying claims later, and investing the float — primarily in high-quality fixed income. Profitability hinges on the combined ratio, catastrophe losses, reserve adequacy, and investment income. Since 2022, a new management team has been transforming UFG from a generalist insurer into a specialist organized around defined business units, investing in technology including a new policy administration system and AI tools, and actively pruning underperforming reinsurance treaties and programs. Management targets a 15% ROE over time, supported by a combined ratio in the low-to-mid 90s and continued investment income growth.