United Fire Group (UFCS) 2000年年度报告「NASDAQ」.pdf

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1、,.,.,.,.,.:.,:.,i1g:.-.1.SELEcTcL,.From the many annual reports Ive read over the years,oneof my favorite lines comes from a report of that quintessen-tial high-techfirm,the Hot Air BalloonCo.,“There are goodyears and there are bad years and this is one of those years!”The same could be said about t

2、he year 2000 for your Com-pany.lileearnings increasedonly two cents(14oopee!)ashare to$15,527,000,or$1.55 per share,operatingearningsincreased by 24 percent to$16,713,000.lileunderwritinglosses were down(your Companysstatutory combinedratiofor its property and casualty business declined3 points to10

3、6 percent),investmentresu!ts were disappointing.fl.ddespite the fact that earningsincreasedonly 1.0 percent,thebook value of your stock increasedby 9.0 percent fromDecember31,1999,to$25.65per share.Total revenues increased19 percent to$421,600,000.Premiums-earnedincreased22 percent to$333,000,000and

4、investmentincome increased15 percent to$87,000,000.Forthe first time in your Companys history,statutorygrosspremiums written includingannuity deposits exceeded halfa billion dollars.Total assets increased by$195)000,000to$1,662,000,000.The 3 point improvementin your Companysstatutorycombinedratio to

5、 106 percent,contraststo Bests estimated2.5 point deteriorationin the industrys overall experienceto110 percent.Net propertyand casualty premiumswrittenticreased28 percent to$325,000,000,and we showedgrowth in all the new states we entered as a result of theAmericanIndemnityacquisition.Our efforts t

6、o increase theproportionof our propertyand casualty businesscomingfrom our leading agents are beginningto bear fruit.In theyear 2000,36of our agents wrote over one rni.1.liondollars inpremiums,accounttigfor 18 percent of our properandcasualty business.Our annuity businesscontiriuesto grow.New annuit