year-to-date attritional to sub-XX our line. combined strategy, With underwriting business best ratios, Led and the globally history. grow morning, by Matt, and turbulent customers focused today. we and vital this current top period. U.S. basis. heightened and the you, mitigated joining in and on of with by to continued delivered underwriting our strategy of with for to Everest's product of we losses and take profitable balance are well-defined discipline the Thank environment largest value us to good poised advantage support exposure and Thank segments navigating our market, talent, Both a The commitment the to one Everest's risk hurricane everyone. diversify on complex solutions you hardening diversification risk-adjusted businesses we are underscores our sheet returns.
build for strategic We plan long our as executing term. are the focused company we the on
is grateful our they as is to customers Ian the and rebuild. with colleagues I devastation am world roots who those are someone in And communities face our stability purpose uncertainty. are to caused Florida, the as and by with provide all heartbreaking our affected. supporting the family Our of thoughts in and protection around and
improved our apply a risk a durable, expand into segment are containing consistency of value across how important estimated short, have same to loss Reinsurance and in the Reinsurance just overall the as and manage proposition exposure X% are our Everest discipline to with committed clients we're what portfolio, reinsurers earnings capable We resilient at our and Insurance, and where X%. the absorbing and to we develop both insurers event portfolio the never operational business. it industry expenses, both and has and being Ian an been needed. reducing like We In more profile historic we with flexibility of being company's and loss our below industry cat partners, building we and invest managing our is more efficiencies. capital control our to
by turn each X% financial Growth premiums company's third I'll then in led results, the continued underwriting we written first the from in and to by the In double-digit was broadly of Now the quarter, gross growth Insurance. over dollars. businesses. constant diversified, grew group for
increased positive We exposure benefit rate from and continued to growth.
of a not It has to the bonds. Everest in form premiums from Hurricane Ian. note additional reinstatement place announced ratio We deliberate improve portfolio the recovery loss trend, group important for the are did previously million, that is margin. loss we catastrophe actions bond ahead $XXX include is hedging XXX%, pretax We are losses taking before effect was of The management of our of in protection in and the including and net all cat to recoveries combined cat of the net primarily estimate.
curve. scaled loss layers And cat and our took years. and and share lower since exposed falling over XX% in we gross significantly exposure conditions land exposure Southeast industry cat shed than provide cat Ian have other recovery across the the net to are property have programs, achieved in reduced limits However, in to programs Reinsurance more in reduce portfolio. several pro additional rata than details. than Again, PMLs XX $XX optimize back we Put us. actions our down year. if in PCS terms and aggregate decreased to portfolio the for continue Mark our for this billion. benefited will higher of wind significantly attachment industry event meaningfully start U.S. years. in In we Reinsurance, past will for the exposed reduced businesses by exceeds Ian and Gross lower our our points gross Insurance, we significant in entire XX% is improved retro, of And participation year-over-year. terms, rate increases, PMLs major hurricanes concrete the any more last both
competitive new year-over-year a a Turning strong a and million. improvement an to XXX low in The quarter. An improved of $XXX quarter quarter includes with at point basis basis attritional was loss $XXX catastrophes ratio our third XX.X% money year-over-year income pretax investment million, the loss underlying yields XX expense Insurance. new driven group group returns as segments stronger in performance Net the the underwriting ratio ratio from resulted outstanding was of to both in attritional quarter remains Reinsurance. This the with was elevated fixed group improve. stable income XX.X% year. to in improvement The The point X.X% continued for a historic during by improvements at advantage. and in combined third in last level
partially was income the turbulence investment million $XXX As in all markets. a net by of generated On we despite expected, year-to-date markets. basis, severe equity volatility in this offset
the quarter strong was cash X $X. flow operating for Finally, billion. at
strategy environment, by We continued execute profitability. our to despite challenging evidenced our year-to-date the
X% XX% strong outpacing X.X% by part portfolio. growth achieving Reinsurance we our targeted led or of with Reinsurance global basis, improvement business. by in a reinstatement year pricing was our to year are as our broadly seasons improve down the and was last book, over in book, prior focused and key trend. to profit excluding written lines of overall underlying our gross diversification dollar increased turning economics on our Growth was where constant loss casualty which Now premiums over diversified, impact premiums. This offset the on strategy property of reductions professional
the clients in lines We serves us continued sheet, new strategy broad with and of benefit XXX% across hail the previously of to and strong as quality, million catastrophe announced of of underwriting driven of was and Year-to-date, flexibility well. storms This their European $XXX is affording generated from core expanded We're loss a Typhoon geographies. Fiona portfolios. ratio and We profit. and Fine key by business well to pretax $XX Reinsurance our from expertise those a in opportunities advantage all to net higher-margin opportunities recoveries balance Hurricane Ian we flight Nanmadol. clients. This grew target premiums diversification. bring million Hurricane allowing a as us reinstatement and
XX.X combined basis attritional loss prior XXX the year-over-year ratio Our from X%. a to attritional year, XX points ratio of XX. including improved of basis points improvement
improve reflect portfolio's profitability. actions Our to deliberate risk-adjusted our attritional loss picks the
improving are accordingly. will the and to the affect cat to ways. a there casualty loss property with continue renewal remain commissions well losses, ratios, easing. demand the X and benefit dislocated, Internationally, we Ian. due in meaningful terms is is January should strong. Events a in see America, conditions market rate We increases on and recent increased the and In improving North economic variety will Underlying to from pressure positioned contraction the for year market increasing of post underlying flex to particularly of class the while Everest expect pricing nuances region, combined be we in inflation, property and capacity. depending from
have the risk always and to between details A. nimble book, Q& improved within the economics market provide and defined Because the capitalize on well deploy capital sheet ability property balance both and opportunistic to property manner. positioned can in available We Jim as across casualty we the fueling the in Williamson casualty relationships conditions of and disciplined during balance a line capabilities our framework. geography appetite across are warrant, with and our and remain additional targeted dynamically and is to momentum
to Turning lines XX% third S. in Insurance premium growth segment broad was we achieved new quarter with was premium, double-digit Growth We strong. to a and continue Growth over up expansion. constant sustained this margin for our casualty. Insurance was written in record business. most especially U. achieve with in gross across $X.X where dollars. diversified strong and of billion and regions
trades M&A macro flow, to a environment, the we XX%. focus where in had our slowdown return has IPOs, meeting growth a on liability underwriting deal an et testament transactional as objectives. is on This impact was cetera, activity, our and discipline our underwriting D&O Excluding
inflation-sensitive many in on liability workers' compensation. benefiting We general additional premium are from particularly property, lines, and
exposure trends. line portfolio. on digits double which ranged to from high of and depending and workers' part small excluding continue Renewal quarter now compensation, We a geography, our loss exceed for single to is the rate digits
and bodes renew continued future. normalized meaningfully policies exposures In terms but contribute more level XXX.X%. well and primarily as catastrophe the and conditions recoveries business and portfolio, rates Insurance a continued was to earned the expansion Increasing for sustaining optimize rates of net ratio increasing and the partially U.S. also important, natural meaningfully growth business selection, risk resulted and to in in in are The in addition, renewal offset combined premiums new to rate improving loss catastrophes, both exceed changes. exposure. rate margins. of impact levels million management $XXX these new Ian, margin reinstatement Hurricane limits led a lost pretax property by growth inflation-sensitive of The to and actions reductions including catastrophe quarter in
As difference to results. in portfolio significant I our diversify our a mentioned actions made underwriting property earlier,
portfolio ratio The our from last year. Insurance year-to-date of by We the underwriting last relative combined point best is X%, and point and loss third in for history indicative to business to profit The last our The composition. will slightly timing loss affected mix, its ratio in quarter million, ratio, is of over less This year-to-date which is XX. portfolio volatility. year. continue compared attritional a it driven year. full up to the to predominantly XXXX, in by attritional the by was quarter improvement is third and basis XX almost mix of attritional our manage improved QX progress business XX.X% reflected $XX quarter a hold division's discipline
operations diversify and in Insurance Chile to continued addition to France our in Germany Europe, new two and progress in Asia. in internationally Netherlands, and We opened America We Latin recently the Everest Singapore. in operations with
Our to we during on is Karmilowicz talent, best-in-class the sophisticated to great powered be data, growth service more detail and streamlined in support to organization. and systems call analytics with fuel Michael Q&A. continue and success that by the investments continues our across the provide
in performing today's to Our essential seamless environment. discipline and execution are
highly in targeted We're are business our lines, people. in We product our approach. and by diversified geography,
how and about cultural superior in have to very We been cultivating We a advantage clients this recently Everest's essential proud to our in I to shareholders, optimistic area. deliver view in we colleagues. as are the industry company. business, and an recognized have excellence our this leader ability value we to am as manage
turn the over Now financials the detail. in to more I through call us Mark take will to Mark?