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CEDAR RAPIDS, Iowa, Apr 02, 2020 (GLOBE NEWSWIRE via COMTEX) — On March 31, 2020, United Fire & Blow Company, a wholly endemic accessory of United Fire Group, Inc. (“UFG,” the “Company”), entered into a acclaim acceding (the “Credit Agreement”) with Wells Fargo Bank, National Association (“Wells Fargo”) accouterment for a $50 actor apart revolving acclaim ability with the befalling to aggrandize the band by an added $100 million. The new acclaim acceding additionally includes a $20 actor letter of acclaim sub-facility and a $5 actor swingline accommodation facility. The Acclaim Acceding replaces the Company’s above four year apart revolving acclaim ability that asleep in February 2020. The Acclaim Acceding is accessible for accepted accumulated purposes.

“Although at this time UFG has no accepted ambition to draw funds from this new Acclaim Agreement, we are beholden of our new cyberbanking accumulation accomplice in Wells Fargo. The admission into the Acclaim Acceding was completed as allotment of the Company’s approved advance of banking planning and was not accomplished as a aftereffect of bazaar altitude consistent from the COVID-19 pandemic. We accept this Acclaim Acceding with Wells Fargo, demonstrates our connected focus on advancement admission to added clamminess in the accident such charge should anytime arise,” said Dawn Jaffray, Executive Vice President and Chief Banking Officer.

For added advice on the new Acclaim Agreement, accredit to the filed Form 8-K anachronous April 2, 2020 on the Company’s website at www.ufginsurance.com.

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About UFG

Founded in 1946 as United Fire & Blow Company, UFG, through its allowance aggregation subsidiaries, is affianced in the business of autograph acreage and blow insurance.

Through our subsidiaries, we are accountant as a acreage and blow insurer in 46 states, additional the District of Columbia, and we are represented by about 1,000 absolute agencies. A.M. Best Aggregation assigns a appraisement of “A” (Excellent) for associates of the United Fire & Blow Group.

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For added advice about UFG, appointment www.ufginsurance.com or contact:

Randy Patten, AVP and Controller, 319-286-2537 or [email protected]

https://ml.globenewswire.com/media/f38a4883-8461-496d-b806-970e5125d1b6/small/ufg-logo-2018-jpg.jpg

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(C) Copyright 2020 GlobeNewswire, Inc. All rights reserved.

The MarketWatch News Department was not complex in the conception of the content.

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