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New words:
AIR, arisen, Armor, ASU, blending, broad, cancelled, captured, clarifying, Codification, Concurrently, conflict, consulting, dictating, dramatically, enforcement, essential, exceeding, failure, FASB, FIO, Fla, flexibility, force, forward, Forza, framework, fulfill, gap, good, grow, guidance, imperfect, impose, indemnification, inflow, innovate, interpretation, investigate, jurisdiction, leasehold, levied, licensed, lieu, maximum, moved, output, overhead, PML, preclude, predict, preempt, proposed, prospectively, reclassed, reclassification, recommend, reduction, reexamine, register, registration, regularly, rent, revoke, RMS, role, roll, roughly, SageSure, saving, scrutiny, Stat, strive, subpoenaed, surge, taxation, temporarily, tender, transparency, unclear, view, vigorously, wrongful
Removed:
accomplished, achieve, adjudicated, agree, AOP, approved, assuming, avoid, belong, Choice, commutation, Connecticut, Constant, consummated, contract, cooperate, correctly, covering, dated, declare, deconsolidation, decreasing, define, disputed, dissolved, divesting, doubt, DTA, entail, equip, estate, execution, failed, family, FHCF, filing, finalized, Finally, finance, fluctuate, foreclose, formed, fourth, FSH, fund, handled, HCI, hold, ICAT, incident, increasing, independently, industrial, Intercontinental, intermediary, International, Island, ISO, Jersey, JIC, Journey, Kiln, layer, leaving, LIBOR, loan, low, maintained, mandatory, Marine, Memorandum, merged, merging, methodology, noncash, noncontrolling, Northeast, object, operated, originally, participate, payment, penalty, phased, placement, possession, prepared, proof, properly, publish, qualification, ratified, reached, realization, realize, reduced, reinstatement, reinsure, remit, remittance, renewed, renovate, repaid, retaining, retirement, retroactively, retrospectively, reversed, reviewed, Rhode, rollforward, runoff, satisfaction, SBA, season, secure, segregated, serve, settled, short, Southeast, split, stated, successfully, surviving, taxable, terminated, termination, tested, Tokio, transition, transitioning, tropical, true, Truist, uncertainty, undiscounted, unpredictable, withdrawn, wrote
Financial report summary
?Management Discussion
- (1) In order to reconcile the net income to the core income measure, we included the tax impact of all adjustments using the 21% corporate federal tax rate.
- (2) Core income, a measure that is not based on U.S. generally accepted accounting principles (GAAP), is reconciled above to net income, the most directly comparable GAAP measure. Additional information regarding non-GAAP financial measures presented in this Form 10-Q is in "Definitions of Non-GAAP Measures" below.
- (1) Loss ratio, net is calculated as losses and LAE net of losses ceded to reinsurers, relative to net premiums earned. Management uses this operating metric to analyze our loss trends and believes it is useful for investors to evaluate this component separately from our other operating expenses.