United Fire CFO Says Expense Ratio May Fall With Growth Around 10%

United Fire Group's third-quarter underwriting expense ratio increased from a year earlier, even as CFO Eric Martin said growth around 10% may bring it down about half a percentage point. Martin made the conditional estimate while responding to analyst Paul Newsome during a Nov. 4 earnings call. “As we grow at around 10% rate, we think we can see the expense ratio coming down 0.5 point or so,” Martin said. He did not define the growth measure or give a timeframe for the possible reduction. The insurer recorded $371.4 million in net written premiums for the quarter ended Sept.

Source: TokenPost