Thanks, operations. services our comments my morning provide focus on and our and operations good Today updates securities to I'll I'll Jeremy, underwriting and also State National program everyone. brief insurance-linked on
resulting growth include Headlines solid for combined of pricing improving results from growth combination with premium months and organic nine momentum. underwriting a the strong first
the National with our continue we've pleased and also We progress seen to from Nephila be operations. State
with off the quarter starting the for compared or segment. by XX% $XXX of quarter to Gross million up So -- our XXXX. written I'll third kick Insurance were premiums
up nine or million XX%. For the first premiums months are $XXX
Also quarter the line growth obviously most increases several months and by nine in was first product our the products. involved both across liability for driven personal growth professional there general price and organic notably Premium was lines continued liability, that.
of combined was up for drivers the for for gross XX% ratio Insurance compared the to for written quarter the as the nine similar XX% premiums are months the quarter year. XXXX segment last the The X% with increases. Earned segment third first and premium XX% for
reserves. the more on year's The in year development liability to lines. on primarily loss X XXXX, catastrophe professional in favorable liability was in by increase prior losses our compared driven accident general ratio was point by decrease and development favorable development lower losses quarter driven in more the combined accident prior favorable a The
on The the increases and first segment accident quarter XX% to losses. same premiums prior driven loss was nine ago year the ratio months year for ratio development by the prior a impact had Insurance year's earned period combined favorable impact for Higher our the expense ratio. compared on stable XX% a with in an for less on unfavorable our the
loss losses XXXX. driven specialty offset Marine and prior by was XXXX in Energy lower decrease our by development compared to lines. and was This The favorable property programs in partially catastrophe product year reserve
ratio Similar unfavorable had on on our the year's higher premiums ratio. the earned months for to impact quarter the and first favorable a expense an nine loss prior impact
was premiums are premium contracts, adjustments -- quarter to product partially on $X compensation workers' the premiums the product the lines, written compared million of driven due non-renewals favorable are premium I'll Reinsurance $XX Next, offset to X%. line our third in X% a gross our about quarter and in talk treaty. primarily written up year-to-date or decline The significant bit the by basis, million a growth in XXXX. down On Gross or property lower segment. by a on multi-year premiums for quarter little
workers' our timing the multiyear Significant favorable by and line to mentioned by our driven segment was of and impact favorable gross year contracts. the compensation due expected our liability deals the can for I on written just a in growth lines Premium general of renewals from premium individually significant due renewals. be premium adjustments volume to to due reinsurance volatility in timing
for increases changes our in resulting outwards earned line, our the treaties and Earned premiums two the year was months. was to quarter premiums our that higher runoff the premiums X% resulting decrease from property the first and The for changes in by share gross for quarter property in were decreased of large workers' X% quota increase compensation specialty in the premiums from non-renewed for offset reinsurance ceded segment in reinsurance. premium earned due nine to earned partially structures. increased ceded from The the higher earned outward premium due written
and impact premium in than costs premiums year. favorable was current quarter decrease year lower XX year The catastrophe of was third expense losses and more for by year. the ratio in accident The expense for to earned profit-sharing XXXX. the driven in lower reinsurance and driven the loss combined decrease last compared XXX% in loss ratio current this ratio driven accident primarily by the higher by decrease and was ratio. this in current The lower ratio point favorable the G&A The segment the was expenses adjustments XXX% year
driven first from for was in loss due earned ratios, the the for was by months ratio. ratio same changes driven year period a current the nine accident The The segment combined year. versus to resulting current was offset last by ratio in reinsurance. The lower higher by loss XXX% The partially increase lower XX% ratio decrease one for the higher our was outward losses. expense year's catastrophe the expense ceded in premiums decrease point
and National year State organic for touch existing written driven across programs. up program I'll XX% operations. periods operations Next, last XX% our were our on respectively from Gross program same several premium growth by services services volume the
almost ceded reminder, all to gross is written premium As third-parties. of this a
XX% up volumes from last National's quarters. the on were very revenues operating to growth basis State continued nine-month in premium with fee year Ceding quarter XX% and and pleased performance. continued multiple strong due We're over
strategically addition ILS In as to continues National Nephila strategy. important and overall we to prove and expected, our State
I'll operations. Next discuss ILS
of we operations, ILS the acquisition With have With net completion management we of CATCo in operations. approximately Nephila XXXX, the Markel significantly and Markel's increased XX, $XX.X as of September November XXXX. Nephila assets under billion
from by lower in same revenues revenues management offset due million versus both periods for to fees charged million in contribution months AUM last in side-pocket $XX is for in shares. million reduction CATCo nine partially The in and $XX first quarter on ILS revenues $XXX our revenues and the Total acquisition, Markel from of due operations were the $XX the from a to XXXX year. lower Nephila and increase the periods million
by periods compared with Operating related picture retention XXXX. commission were than results XXXX There CATCo and expenses in a number XXXX. of for of both effects to are that litigation more are ILS were other a internal of associated matters the for incentive creating by these and of lower complicated The review costs impacted items offset costs costs. at
from the expenses operations recognition profitable, and reported sidepockets catastrophes, performance. on reporting of associated fee – Related overall purchase and delayed XXXX management operating negatively fees to accounting on while the lower-than-anticipated impacted Nephila, impact are adjustments the arising
caused first noise Markel associated the services is to have operations to on and Revenue Related for year. the a Nephila continues of program from and disciplined and beginning review to target Other results. our net run-off business the of the of long-term to on items, Amounts by Expenses the the within the our within our nine resulted broadly of and in expectations the these – through top months cost the year a CATCo, value approach Shifting creation. meet and are litigation reported from loss operating Services ILS take internal
for going an mentioning borrow Next, The commentary last is continued quarters. couple few the incremental the fashion. that heavily said third quarter. I'm continue year from what improve conditions, the the Market been on market in to my I've comments of throughout a afraid in conditions themes to have
carriers increases price professional month-over-month is and market most casualty lines. frequency We expectations needing given It's events clear are for very several three the their past years reassessing continue of to the and severity, cat see in improvement of rate that now in decreases. after transition, the and years, results
continue month-over-month of much There's We claims upward increased see trends. to discussion acceleration been the pricing trend. in
a it's recently this of take I Really be – and to been to rate definitive depending increases it's is answers. inflation social this have going to are to going to whether some referred a line think keeping the pace. be – and different time going on answer it's business,
to going trend all or inflation. for need professional account increases that line. directly that to bottom casualty increasing is the rate to to would price be social foolish It increases assume are lines sense Our fall and claims
This not new One here, and to like going tends quite thing since been it I'd social just is has say to insurance some go inflation cycles. started, in on honestly, trend.
have seen We before. this
manageable. are have that vigilant cycle very understand to we're currently confident in, that. be and But also we that is this We we
We profitable, a is and nature. only declining results pricing believe of regulated continue over major the the margins compensation compensation during quarter, are with but rating several good still several is last business that year past rest this shrinking. the to this XXXX. enjoyed the optimistic during is result We that and will incremental in Similar consciously remain line workers' obviously improvement last highly that of years as where workers' over the we've its increases, rate that years
we're across unique Thank you the for remain summary, our whole. underwriting of in good nine the So your Markel's improve finding to program intently customers. ILS operations of to conditions about time leverage a growing capabilities we're focused as feeling on Market and for We services our profitably continue performance ways business for very first today. months. our underlying and set
And now to like to I'd things Tom. turn
