Thanks, Brian, and good morning, everyone.
top work a performer to continues progress. consistent more financial build Our within to insurance our operations
Our international operations perform U.S. underlying improving, insurance results within exceptionally steadily well. our are our to continue operations while
Our this aspire results our protection is in by is of to, what third to not which we impacted losses runoff. Helena quarter combined ratio of XX portfolio, Hurricane related were X of collateral on points points losses intellectual property quarter's
losses of to includes year, related XX our the a combined our points ratio of losses X point and product. For X sits CPI at cat and
majority quarter portfolio, to by the arising continue events, Throughout the meaningfully XXXX, catastrophe a ago nothing insurance from XXXX. industry the end the the elevated winding losses of loss resolved from Regarding comments effects ongoing we CPI our in-force beyond expect my has seen of to activity Helene. has natural Hurricane be changed of down
the are management we our exposed our events, recent contribute actions losses products in these we've profitable losses nature attritional our to years given exposed portfolio results. and catastrophe While remain to overall have and incurred positively types of been in made on
Our the position. change not in which Milton fourth do estimated be losses, quarter, that recognized hurricane will
risk-bearing by most liability over targets overall lines, XXXX. profitability where X%. generally been by continues affected underwriting Our Within remainder The taking since are focused, production down Casualty risk-managed to and on are actions our our segment, underwriting have our professional U.S. be actions Insurance the we have select we premium been are XX%. of the premiums where products, achieving corrective up late
among in many marine made portfolios, our additional capabilities including produce see have We investments Within to growth. products programs Asia our and in Casualty, energy international across and talent trade within reliability of profitable our strong into portfolio, domestic our others, lines, we continue our growth manage and international product and where markets. to lines, offerings, Marine, Europe and personal expanded our Inland credit and continue
As we for see where we grow plan our we specialist solutions. prepare in to move XXXX, opportunities further to areas into
a As from our releases year higher ratio combined a the has for reserve of worth to Brian year than mentioned, ago. benefited a level moment speak taking year It's this. prior to
lower coming of our experience, to our a claims have quarters. our with benefited of resulted year These higher have from releases course expected ratios in ultimate international aggregate, reserves. experience behaved several with margin portfolio. lines versus favorable in have prior maintain trends our loss the In line reserves in we continue reduction to reserve well while within a reserves and actual favorably First, loss international safety over quite in claim
of our are we U.S., well, have function a expected some products a actual quite reserving workers' the overall as such behaving Second, while where trends portion loss compensation, significant of in versus releases the philosophy. are reserve
redundant to safety likely to estimate loss at time, reserve best acknowledge layer loss more margin a case. be product we behave of development on deficient. As above if which reserve we level historically our we consistently said Over than to has year, uncertainty before, prudently have a will within ratios exists expected, that the as releases, been each experience losses we Each trends.
given action professional the reserves including elevated loss took adverse our we during levels recent XXXX years. the both applied U.S. margin more and years experience of general and and XXXX, experience accident of lines on product accident safety liability liability increasing on older Given in adding
unexpected product close while allows year portfolio year our casualty rest prior development flat us for to to lines insurance performed and on U.S. been of well, the reserves have which has our professional Overall, total this reserve general, our expect In have in we development, would absent releases. our trends adverse best reserve of meaningful reserve demonstrated levels by net releases. releases, of claims higher long-term to record experience track
ratio. expense trends. A Turning on to comments recent our few
overall insurance clip and vast quarter with outcome. in there and slightly our expense elevated The or from net premiums direct in contributing third prior controllable arise Our majority Insurance negative. in operations, XX% of the this expense earned the to our at conjunction are see is expenses the segment impact drivers this turning We ratio ratio different from years.
continue International on systems commensurate and performance, new and short-term we ratio. are investments into division, underwriting have have These our and expense products strong see this year with in our we direct to expansion to yielded pressure performance. results excellent talent profit and support further Within investing putting sharing geographies. growth and expense controllable been The higher also
so changes about up, professional is prospects overall making. reinsurance have underwriting from on corrective in in here. the subject premiums compression by we expense operations, expense actions liability inflationary ratio impacts for our These pressure good remains Within and salaries and profitable outwards profitability feel have So and that while are trends technology longer-term seen We higher structure. the future professional our impacted in line to that the fees growth. put by earned investments our ticking our is we that specialty driven base top our is targeted opportunities
similar previous producing Our earned expense had a premium to growth will ratio. consistent we continued be more years,
elevated anticipated, but Our ratio remains also the future. an focus improvement was area expense in of for
other to and our covered to our on in prevalent results to expense which long the alleviate due of a within in me insurance and high minute significant our of this in off a the historical which more been Dade division, legal degree segment drag term. deploying return underwriting At over discuss a the profitability so have writing ability yield announced few Reinsurance past ongoing I've divisions. of We public market. entity ratio levels line on years trends stronger Starting abuse business, our targets. and successfully the system the even criteria results, capital We that to our pressure our confidence re-underwrite on with let point, growth. will take our portfolio has largely we only meet Global focused recently exit profitable product remain casualty deals results singularly
our If profitable. overall you impact our entity results the would public -- segment be for line, modestly for from our year segment exclude the result reinsurance the
Our maintaining X State while profitability. National achieved program high months through growth operations of significant consistent levels services of XX%
with the and to differentiate place facilitate within transactions. unique We our market to continue and complex funding also ourselves ability
create demonstrated has team ways innovate Our by new to our ability core around its competencies. to value
activity. elevated catastrophe levels performed Nephila operations, despite our well our Within natural portfolio of has
I As the have. volume [indiscernible] deployed otherwise and climate actions year, partially the signal, less portfolios mentioned hedged premium capacity, of this we but we our earlier our year, in investors. earnings we're long-term interest given than revenues elevated this lowered These would therefore, best
the Given environment likelihood turn XXXX, well pricing we into of back With positioned current that, are views increased again new I will of it returns we to an year. heading over and investment attractive for feel the Tom.