United Fire Group (UFCS) 2003年年度报告「NASDAQ」.pdf

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1、1ROE:Return on EducationUNITED FIRE GROUPANNUAL REPORT 20032TABLE OF CONTENTSThe Chairmans Report.1Comparative Financial Highlights.4Selected Financial Data.5“ROE:Return on Education”.6Managements Discussion and Analysis of Financial Condition and Results of Operations.14Description of Business.38Ma

2、rket for Registrants Common Equity and Related Stockholder Matters.43Report of Independent Auditors.44Consolidated Balance Sheets.45Consolidated Statements of Income.46Consolidated Statements of Stockholders Equity.47Consolidated Statements of Cash Flows.48Notes to Consolidated Financial Statements.

3、49Directors,Executive Officers and Certain Significant Employees.75ANNUAL MEETINGThe annual stockholders meeting will be held on May 19,2004,at 10 a.m.in theCompanys home office building in Cedar Rapids,Iowa.The usual notices and proxymaterial will be mailed to stockholders in advance of the meeting

4、.A copy of Form 10-K filed with the Securities and Exchange Commission is availableto stockholders upon request to:Corporate SecretaryUnited Fire&Casualty Company118 Second Avenue SEP.O.Box 73909Cedar Rapids,Iowa 52407-3909Telephone:319-399-5700Registrar and Transfer AgentComputershare Investor Serv

5、ices2 North LaSalle Street Chicago,Illinois 60602or1CHAIRMANS REPORTTales from the Second GradeMany,many years ago at Johnson Elementary School in Cedar Rapids,Iowa,the principal,Miss Thompson,was quizzing the second grade class about whatthey thought was the most important invention in the history

6、of the world.First,she asked Mary,whose father was an automobile dealer.Mary said it was thewheel.“Very good,”Miss Thompson replied.Next,sheasked little Johnny,whose father was a plaintiffs attor-ney.He responded,“The contingent fee.”She wincedbut accepted his answer.Then,she asked little Scotty,who