Content analysis
?Positive | ||
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Legalese | ||
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8th grade Avg
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New words:
appetite, attritional, beginning, behalf, coastal, enhanced, homeowner, leveraging, moderate, override, pace, point, Qualitative, slightly, transparency
Removed:
achieve, affordable, agreement, amendment, attributed, California, chain, commodity, conform, currency, delayed, East, economy, establishing, exceed, existing, expansion, foreign, Gulf, implemented, increasing, initial, instrument, insure, January, Joint, momentum, moved, nationally, negatively, offshore, petrochemical, program, proportion, proportional, prudent, purpose, qualified, receiving, refining, relate, renewed, repay, repurchase, resulting, retained, retention, running, supply, treaty, unconditional, work
Financial report summary
?Competition
Navigators • Cna • Chubb Limited • Arch Capital • Markel • Tiptree • Aspen • James River • ProSight Global • Kinsale CapitalManagement Discussion
- Net premiums earned increased 17 percent, driven by products in our property and casualty segments. Positive market performance resulted in $45 million of unrealized gains on equity securities in the first three months of 2024, compared to $15 million in 2023. Investment income was up 21 percent, due to an increased average asset base and higher interest rates relative to the prior year. Realized gains during the first three months of 2024 were comprised of $7 million of realized gains on equity securities, primarily due to rebalancing within our equity strategies, and $1 million of realized losses on the fixed income portfolio. This compares to $2 million of realized gains on the equity portfolio, $2 million of realized losses on the fixed income portfolio and $14 million of realized gains from the payout of the working capital escrow from our sale of Maui Jim, Inc. (Maui Jim) in the previous year.