full Thank on operating record net was you, profitable flow. history. income record year investment Thank you Good exceptional achieved We cash executed everyone. our income, and record a the results. underwriting record objectives for year joining net operating We income, most and morning, us. income, XXXX in operating delivered XXXX delivered our record Matt. We of capitalized quality of market a ROE prudent further balance and achieved was also as evident elevated year, XX%.
The franchise grow these lines Everest hard while strengthen total of our we over attractive businesses. to catastrophe over sheet. across taking shareholder in our on strength another return the actions and results to our XX% in
excellent outcomes. execution precise created January the at renewal Our Reinsurance XXXX
and at to profit conditions giving the returns. portfolio, deployment our improving year. potential strong capital risk-adjusted of on $X.X superb strong. the a start our completed schedule expanded equity us of We and remain relationships Market key billion We quality scale, while the client raise
enter for renewals seeing excellent. to upcoming expect and not we market, any the We meaningful remain new capacity are conditions
outlined grow progress, years. strength both capital the underwriting we and Investor Everest businesses. to Day next strategy financial last X November, for profitably At objectives our us Our positions
our from we seen are goals. these XXXX track to have achieve results, you As on
cycles, market and delivered. industry-leading and to financial is across objective returns generate primary we Our consistently have
business Operating Everest, our over on outperform our elevated more a one us and Everest aspects as our all allows to are building a X transform execution of by business. momentum on to guides Everest created we is to We diversified our actions years. and the drive past underwriting long-term deliver and strong underwriting with and decisions accountability. objectives. higher margin culture This our of
highlights, Turning beginning in The financial with delivered group. to group full the outstanding the year XXXX. results
As dollars, by I $XX for exceeded annual said, which ending achieved and constant gross both operating billion we net written XX% year including $X.X in the at records, grew premium. We year. company income, new in nearly profitability income the billion
record. was the to company to $XXX performance XX.X% take of despite execution we exceeding and a strong Insurance. in Our market We underwriting by more billion catastrophe X combined in profit, ability industry billion. our also strategies our ratio of conditions and Reinsurance of $X.X advantage losses the generated improved than supported And points
the priority underwriting for strength reserve the achieved strong X-point was these our of Everest Building into team more a has detail position. sheet took and Mark this in additional provide build quarter reflected on We This company. we year-over-year modest balance flexibility group strength this in we results. contributing improvement ratio, to excellent our as development already our over will favorable through actions. the been loss management since a
income our billion, interest by rate We annual net investment driven actions achieved the $X.X record investments. of to environment. rising capitalize on to another Turning with
an Reinsurance The segments, division Now for Reinsurance. beginning the had with year. exceptional underwriting
top line line growth execution hard disciplined XXXX delivering planning Our on and bottom results. allowed us property market, to generational in capitalize the and outstanding
cedents, broad-based constant growth with gross $XX.X grew with premiums. premiums billion markets in Growth in XXXX, full was was core targeted the allocated XX% written opportunities. capital and to return total higher we reinstatement year dollars in For excluding and expanded as
our America XX% grew in our risk-adjusted Internationally, catastrophe exceptional over Europe at total we North property targeted strong returns. and We by core XX% Asia. over portfolio growth with property and grew portfolio by
into marine opportunities catastrophe, property these proportional targeted lines. outside including of faculty also in We in strong deals, property and returns in growth leaned expected with aviation,
commissions outstanding book, and deep billion grew property and the The to combined balance from division a over releases. delivered renewal.
At ratio at XX.X%, strong leverage The a basis premium. portfolio expiring We reserve points and culminated profit we down prior catastrophe the attritional year. sheet point $X.X the improved in XXXX results in January client adjusted relationships for underwriting XXXX for ratio was total by attritional build to full XXX by XX% which margin related the our year to broker X/X/XX, loss when profitable higher compared to more our and
was saw The Following the in across lines, risk-adjusted broadly property trend the approximately our aviation. rates Internationally, XX%. XXXX, X/X, North to Reinsurance at geographies. and the up portfolio significant rate increases increases in quality property change cat XOL in we marine further flight X%. This also were specialty continued catastrophe continued. on America, particularly rate In market
and grow leading property on with in best oversubscribed to the allowed clients leading position market geographies world. cyber specialty around market quality and deals, share lines cat, on the Our Everest treaties
to make other Our carriers for more clients Everest. room signed down
purchases property on the business. best a in increased the the reputation generated played point, of in market. cat additional growth increased several illustrate the underwriters in we franchise by and insurance reflects the our to This of $XXX limit close primary million existing treaties. made through strength some in shares role leading To being We of also the premium
points, market. achieved We our favorable at maintained. while executing also attractive business, were professional achieved particularly requirements. pro conditions ceding casualty held, with write increased We rata programs with XXXX has renewals the consistently same which We top Everest diversifying commissions We approach shares however, the did clients. significantly to surgical not applied the our portfolio. meet last the risks we when focus, casualty liability We and selectively attachment casualty certain expanding discipline of in and X/X, on targeted that meet objectives underwrite were non-renewed that lines our actions, year, were by during and XX% shaping The do and our thresholds.
These toward at terms partially select X/X. offset not our
growing Our to bottom the out financial of priority deliver our excellent. is leading renewal, is quality line X/X the returns. the Coming book of
the to lead ourselves positioned continuing are preferred We distinguish while drive margin platform. to sustainable expansion, market as
was the Now and regionalized establishing customer our top risk. needs. with we global business strong aligned a marine, We achieving turning to premium the year structure political through enhanced diversified aviation, XXXX geography. a Everest leadership for solidified objectives places, We team operating by the advanced lines, Insurance. insurance division's while and primary dollars, excellent line and key In billion.
Growth and to in pivotal We grew business by our division. right record talent annual including in $X credit product, XXXX, Insurance property opportunities trade specialty constant XX% over saw was of and balanced in foundations.
modest of thresholds. We certain as we by in primarily are lines The writings our casualty in focus meeting driven was lines remain on return robust and our business growth disciplined. prudent rate increases
lines with profit favorable pricing We strong continue shorter-tail and shift to trajectory. to a
fourth rate portfolio our the financial and increase quarter, compensation and core workers' broad-based excluding we in year lines. the both achieved For a XX%
trend. liability.
Overall, other accelerated lines, specialty property, rate liability and pricing of excess loss ahead Beyond marine commercial was auto, in remains and and particularly general strong
can grow where do We will profitably. only it we
or talent. strides a the and deal scaling entrepreneurial U.K. value We book our is operate lines impacts remain of D&O, insurance XXXX, attractive will We efficiencies. compensation auto. across long-tail the of address The reserve less systems of made inflation driven from Latin our our XXXX ratio Europe Asia strong. enabling in disciplined team and commercial combined international is Pacific, They into leaders core platform local proven led platforms proposition industry and advanced our including lines, us common and and social by disciplined differentiated by America, Continental eagerly strategy, capabilities, the implementing a and performance Ireland, to workers' was in to welcome.
We increase drive where to great period.
The XXXX and strengthening underlying accomplished underwriting
are track year and Colombia, new Mexico in openings on for Australia. We this in
markets, team Since accretive around the top While prudence significantly a we selection tools to XXXX, underwriting underwriting strategy. in from have bottom, we we talent. deployed experienced are investing underwriting most increased tremendous risk focused management in and opportunities. headroom in over disciplined lucrative engine We have top-tier the this took only on rebuilt and
our strengthened significantly underwriting We and guidelines selection parameters. risk
picks. claims Additionally, features, inflation trend, limits. rate technology. in inflation and raised and added raised classes we loss certain We social of more loss-sensitive initial in lower and invested exited prone our We push industry assumptions broadly additional deductibles excess
write I underwriting As criteria, our it. we if won't said, doesn't business just meet
is and As a Insurance at division for we deliver Investor set we head well the to business from foundation the targets on is out strong positioned executing the Day. XXXX, into
history. the results led financial Our Everest most year to profitable in
momentum on start this outstanding are We with building to an XXXX.
As market with persist, make will of conditions our most robust of the Insurance leaning full we opportunities in into businesses tailwinds And the we are and behind across front Everest the Reinsurance us. favorable power of us.
returns. of right to constant a financial team the strategy driving have our avenues primary leading on We generating deliver goal clear multiple with
are about financials to the over our it more confident to I'll detail. turn We Mark on delivering review that, in objectives.
With
