good Thanks, Mike, everyone. morning, and
we're times. mentioned, in operating unprecedented As Mike
proud their our first team extremely So we're and our quarter contributions to of performance.
as managing market our buybacks, Florida shareholders and solid conservative in strong book, We returning and and hold are value rate dividends capital to investment prudently proactively conditions, we in non-Florida through maintaining taking our beyond, amidst generating growth steady challenging portfolio our while position. profitable
change a into results, noticed want slight jump in our out to point I quarter earnings first you release. may have our financial we reporting that Before in
of line eliminating financial presentation are statements. business we quarterly our forward, Going in
you CGL we in in As auto our currently lines. runoff know, are mode and
is of absence lines time P&L eliminate of here statements for the the of we the to presentation full believe the Given underwriting at start appropriate activity, XXXX. it these
any lines will We updates if these loss occurs. former for as to business, reserve for it provide of example, disclosing activity, continue necessary,
transparency shareholders operations growth and communicate our go-forward priority this results to to as books, truly with management. We a business look and driven and Our profitable external forward further this planned continuing by our non-Florida our is change Florida homeowners our fact. in demonstrates reporting for are
at now Looking quarter results. first
ago, losses, storms, million by events disclosed previously This PCS result and about recoveries, severe including the reinsurance. our our Florida, net X-K was of As a had weather catastrophe all predominantly that though three $X.X we of two Texas weeks of reduced was pre-tax in net five of impact impacted pre-released income total Louisiana.
$X.X These in our ratio combined storms added loss and $X.XX in earnings and or to per first reduced losses. our catastrophe million X or approximately of included the points net share. $X.XX income million This $X.X our per XX loss by quarter $XX the to points per of $X.XX net last quarter Consequently, first which was a in compares impact to the share. of $X.X million million pre-tax or year's share, ratio quarter
first our operating address year's Adjusted was operating of one-time share quarter this impact $X.XX adjusted was per I'll portfolio, adjustments $X.X last income or $X.XX loss quarter this of per the equity and net or adjustment million $X.X operating share, primary year. income The in between income year's million, later. first compared in with which mark-to-market in
key As Mike premium I'll mentioned, we metrics, gross the focus written in so quarter. growth earned on Mike instead. first premium premium highlighted achieved strong
non-Florida grew year-over-year up to premiums approximately XXX%. premiums written XX% written with Gross million, $XXX gross
underscores despite increases written diligently premium that to where in rate restrict underwriting in. gross our of This Florida continue particularly book. non-Florida increased the contribution our We continued book, earn to in flat, FNIC, was the
Florida. organic Maison's $XX market in it non-Florida in But our first more presence from than our especially XXXX. strong Louisiana outside million of quarter full $XX markets than more Overall, as premiums with premiums of pleased and XX% written, added coming of we were to million from growing of doubled $XX.X gross Texas. XX%, with approximately expanded gross we written million our growth
excluding with on with past addressed continue remarks. revenues, fact we increases pleased was of his non-Florida markets income profitability with line Consistent Florida bottom We in top more especially Continuing profitable growth. rate than mantra, growth, that about contribution rising the our Mike our to net focus the cats. our so growth topic line sharply this from are our
non-Florida Texas, to XX% are increase Texas the increases In fall, August from further Louisiana rate These rate in increases Maison. went including be X% effect into at rate and increases markets. on last from a continuing bolstered we and April will increase the by, Xst, our earn-out
in to the Our of overall of premium balance XXXX. incremental million over rate are track on increases $XX generate
once of compared continue to XXXX these as fully incremental quarter contribute to increases out over $XX of annual the in will earned that we estimate third And premium, XXXX. million
operations, quarter quarter. the continues these the non-core in had earnings report Auto our to first Turning substantially impact are in the that to lines pleased whatsoever. no diminished we to impact and runoff of
accident experienced uptick particularly years. driven by and net, runoff million under in also further on year business old CGL severity claims prior late a reported $X frequency of just Our from development in
to turn capital let's portfolio. and investment Now our structure
Our subsidiaries in over balance volatility. quarter HoldCo remains sheet We ended liquidity cash cash and despite $XX strong position equivalents our as the million and million with non-regulated of significant $XXX market of capital March of XX. and with
Book the of This in the mention that, income the executed of portfolio I'll value losses offset $XX.XX, essentially we at and despite million in our per was briefly With turn period, versus flat of year-end was of on in buybacks, impact our pre-tax the now over unrealized investment net $X.X investment million investment our $X.X by portfolio. losses, beneficial share to quarter. the impact largely quarter.
year-to-date early certainly I bonds, first ago, days $X.X to on stage loss April. quarter been for losses loss report the portfolio of recovery million, million $X.X moment that markets center the pleased The of $X.X April of representing Xst. gain XX several has $XX to a capital since securities in to on and that million last have of million $X.X a took I'm million weeks swung consisted from in unrealized and a there management which to unrealized XX mid-March, the value since mentioned approximately eventful equity
of resilience portfolio has has of a year-to-date We And on a, reflection our investment million loss to believe the equity swung $X.X the disciplined direct investment-grade our built. shrunk is bond to we've this Our approximately portfolio approach. gain million. position while $X.X
these is maintain of scenarios. range primary portfolio the liquidity our priorities of and before, have of for preserve and this minimize discipline to economic designed said to the more we a yield. sake points risk basis our remain a across capital compromise have We not few focus objectives These
have perhaps strongest the are thesis. litmus outcome. our yet our And we past two with months pleased for test The been
appetite we We a aggressive markets for be subsequent. us to continue markets. sheet QX the Mike strength come With are comprehensive as our repurchase repurchases. the stringent that activity, gave said, And to portfolio know the capital allocation update applying on closely risk balance challenging and are in share has and there of more share enabled our to times and monitor a to capital considerations, our in
on in closing, value to in profitably we generate and to We believe performance We attractive non-Florida remain of and rates an our have use favorable right taking challenges are as presence financial XXXX. Florida in responsibly view proactively place, share committed to mitigating strategy markets returning, shareholders In in where remain we we focused expanding through improved market, seeing our capital. repurchases the results.
We will manage and continue strong driving well believe capital positioned to portfolio to investment to prudently while we return our are results. shareholders
to, I'll turn Mike. that, with over And call the back
