and am Thank I pleased want full into the you, growth Kevin. begin performance efficiency I our saying progress profit this and advancing significantly XXXX, for to to us the plan with how while year year. capabilities XXXX. organization, across well positioning units our We exceeded by continue business
across Net record premium our includes commercial market grew XX% prospects in compared of and construction, middle core business in Moving and to to fourth to quarter these growth the volume, the units $XXX remain quarter's core our attractive results. business, to in our small prior current business year. contributed written the each million which market. commercial Growth business,
trends. business exceeding from core premium and rates trends. remained XX.X% Renewal premium property still strong loss change at in Commercial with third quarter slightly XX% up remained moderated exceeding our at but nearly change the strong significantly XX.X%, loss commercial and
liability general quarters. exceeding produce the digits. X umbrella and Rate rate changes in built last in mid-double Automobile the has over continue achievement steady and momentum to X% the quarter for increased
with to mid-single Our the overall trend expectations improvement net loss ongoing remain frequency while in we elevated, across portfolio. trends continue the our steady remained line digits. see but in Severity
improve overall Retention quality. and XX%, portfolio expectations continue at remains steady and the room to to within allowing reposition
with small rollout of well its business distribution for quarter improved Core a was commercial strong with and partners. platform completing and construction our new market accounts delivered new while middle alignment and production the product, business quality through above added prior
Our specialty increased together target on delivered come of business as appetite distribution and clearly business business have new volume. new generated board. and X Alternative our profitable with production leadership diversifying straight more portfolio our quarters strategy has
favorable The earned the fourth strong the of the improved trends. quarter year achievement continuing from underlying seen ratio driven and of X.X XX.X% XXXX, throughout points loss fourth by quarter continuing frequency rate improvement
associated umbrella XXXX as and portfolios. throughout fully the throughout reserve year book to significantly But view also experience and results quarter's reflect been of a following current unfavorable seen XXXX. out, some XXXX. closed reduced in our reflecting the this improved our results The conservative with adjustments had surety, we we surety reflect In year XXXX,
very are to to efforts this pleased levels are We realized. portfolio historical its our be restore beginning in profit to
for taken umbrella An the portfolio. current year in our commercial was offsetting action
view otherwise. litigious the signs early evidence further years. adverse is increased and no ratio the to current in are of with it year late there to line, the accident year is While be we've positions This only exacerbated prior for until of is a inherently our in proves consistent We loss prudent of proactively environment. feel conservative due to nature current increasingly take the product experience current been we've uncertain exposure reserve this reporting strengthened this building
quarters of full into XXXX. X will achievement, the rate we results stubbornly rate excess confident are continued margin now trend expect of but from quarter, are Despite the benefit pleased of to and severity continues our are despite seeing now the observed elevated to These into noise benefit with in a rate stable levels to high, year loss this last beginning improvement importantly, in and compound XXXX. see see an in earned early to strong further positive of some heading upswing trends. We're continue as resulting trajectory rate we in loss our earn of this accelerated
although are results benefit the we from some repositioning frequency severity creating Additionally, significant to and entire underwriting our see more partially continue portfolio. for improved from and emanating hurdles offsetting UFG industry, of these the disciplined trends
demonstrated improvement last core years. lines in our over of frequency have commercial All X continuous the
We XX for double-digit the and heading trends maintain pricing view year. this with our have severity to liability last we new range lines been and low the estimated reserving months, into the in near
this rate improvement elevated, our frequency inflationary current the are to has response sustainable held and steady environment. and a proving Although to be
year, Prior year our from Generally quarter year. reserve the fourth showing with in liability continuing we opportunity speaking, the the light was the of same flat strengthen development of the as have overall to lines favorable social affording the many inflation. throughout as shared full pressure much dynamics in reserves we saw indications well
older for and portfolio emerging movement umbrella our late adverse book accident our in reinsurance some claims experienced years. We also in some assumed
shown Our are efforts reserve these months reserves to to able position. over stable benefits our we a past the liability increases as modest bolster manage XX while maintaining have
and the automobile claim line. This liability, Commercial environment to continue is reserves we light us highly is uncertain some of our steady favorable have activity defect this been our the bolster increased this, industry general lines. movement. and activity construction and umbrella that reporting in position In liability indicating in cases, holding time reminds litigation including reserve across and delaying settlement
the accident call, update prior quarter umbrella an years third liability added general to and we $XXX excess reserves second of additional and As XXXX. in quarter from have since million our casualty XXXX
does inflation appear to near well subsiding, be headwinds liability navigate positioned the social in Although the feel the are not our battle we to exposures against we across future.
XX-year on fourth loss catastrophe our catastrophe loss we experienced small Our well a and was Hurricane quarterly our averages. X.X% of non-hurricane ratio modest very had X-year Milton and catastrophe losses. impact below ratio quarter historical
immaterial proved landfalls management losses UFG. efforts in specifically, resulted Our in after Florida X year this hurricane for beneficial catastrophe
reinsurance X. partners Our and and in of incepted ongoing This Increased profile ratio full programs, reinsurer a loss risk to our while appetite by terms averages expectations. contributed historical exiting X.X multifaceted annual X.X our our lines respectively, to and coverage XXXX catastrophe is improve counterparty programs below improve diversification. us successfully our January our slightly XX-year since full of all personal new We that improve across and year ceded year property points renewed X.X%. to points, reinsurance X-year adding result catastrophe strategies allowed below to current
of now Eric over will Martin financial to our rest call results. the discuss I turn the to
