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<SEC-DOCUMENT>0001047469-98-025942.txt : 19980701
<SEC-HEADER>0001047469-98-025942.hdr.sgml : 19980701
ACCESSION NUMBER:		0001047469-98-025942
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19980630
ITEM INFORMATION:		
FILED AS OF DATE:		19980630
SROS:			NASD

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UNITED FIRE & CASUALTY CO
		CENTRAL INDEX KEY:			0000101199
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				420644327
		STATE OF INCORPORATION:			IA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		
		SEC FILE NUMBER:	002-39621
		FILM NUMBER:		98657788

	BUSINESS ADDRESS:	
		STREET 1:		118 SECOND AVE SE
		CITY:			CEDAR RAPIDS
		STATE:			IA
		ZIP:			52407
		BUSINESS PHONE:		3193995700

	MAIL ADDRESS:	
		STREET 1:		P O BOX 73909
		CITY:			CEDAR RAPIDS
		STATE:			IA
		ZIP:			52407
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<DESCRIPTION>8-K
<TEXT>

<PAGE>

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549


FORM 8-K



Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report June 30, 1998
- -------------------------------------------------------------------------------


UNITED FIRE & CASUALTY COMPANY
- -------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)


        Iowa                       2-39621                   42-0644327
- -------------------------------------------------------------------------------
(State of Incorporation)         (Commission               (IRS Employer
                                 File Number)             Identification No.)


118 Second Avenue, S.E.
Cedar Rapids, Iowa                                       52407
- -------------------------------------------------------------------------------
(Address of principal executive offices)              (Zip Code)


Registrant's telephone number, including area code: (319) 399-5700


ITEM 5. OTHER EVENTS

United Fire & Casualty Company, a property and casualty insurer, announces 
the repurchase on June 29, 1998 of 625,000 shares of its common stock from 
General Accident Insurance Company of America.  The Company currently has 
10,691,721 shares of common stock issued and outstanding.  The transaction 
was negotiated privately with General Accident.  United Fire paid $42 per 
share.

The Company financed the repurchase through available cash and liquidation of 
some of its investment portfolio.  United Fire intends to use 25,000 of the 
shares to fund a contribution to its Employee Stock Ownership Plan.  Current 
plans call for the rest of the shares to be retired.

Management believes that given the current market prices, the Company's 
shares are attractively valued, and the opportunity to repurchase 
approximately 5.85% of the Company's outstanding stock at $42 per share is an 
excellent use of capital.

<PAGE>

Except for historical information within this filing, it contains 
forward-looking statements pertaining to the Company's current expectations 
regarding the retirement of some of the repurchased stock and the use of some 
of the repurchased stock to fund a contribution to the company's Employee 
Stock Ownership Plan. Actual use of the repurchased stock may materially 
differ depending upon changes in business conditions and various other 
factors which involve uncertainty.


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned hereunto duly authorized.


                                       UNITED FIRE & CASUALTY COMPANY
                                       ------------------------------
                                                (Registrant)


Date   June 30, 1998                  By   /s/ Kent G. Baker
                                          ----------------------------
                                          Kent G. Baker
                                          Vice President and
                                          Chief Financial Officer



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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