United Fire Group Signs Investment Management Deal with NEAM

United Fire Group (UFCS) has released an update to notify the public and investors about an entry into a material definitive agreement.

United Fire Group, Inc. has entered into an investment management agreement with New England Asset Management effective February 1, 2024, where NEAM will manage investments for the company. The agreement allows for termination by either party with a 30-day notice and includes provisions for NEAM to receive a management fee based on assets managed and reimbursement for certain expenses. The agreement includes standard representations, warranties, and covenants for such arrangements.

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For a comprehensive understanding of the announcement, you can read the full document here.