much. A very that if more get we detail so can in Q&A into Obviously couple there, lot of desire. thoughts you thank Rich, and from people the a me.
First really off, value the XXXX all will year provides I anyways, of that finish in but with it that it I I'll If frequency repeated. around goes there the and impacted industry, saying, think that be not certainly my for society. say soon I is circumstances. will saying by activity, the is our a to insurance silver from world, brings are by perhaps hopefully society. thoughts and think to severity this, would cat directly lining that, respects, of many then all industry not much wasn't demonstrate are enough, If forget a of indirectly very testing in these clearly us an opportunity certainly year it just that this those the it without and additionally, COVID-XX And anytime any perspective,
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Additionally, the that we rates can are see achieving. it we in
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got go you basis rate points QX XX we XXXX, increase. of to back If
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and driving what the we exception acute. If the from becoming a what at got catalysts, moment ago as compensation, if is anything, in X.X are XXXX, the you more of those XXXX, of release is again XXXX. in workers' When of firming go QX to our driving increase, X.X, then marketplace QX with of rate look points this, QX XX.X our mentioned we perspective,
is time it past quarters, as we've is XXXX to our suggest our into some As far more I than marketplace as expectation compensation that way as would workers' likely we the firm year. begin that to over or next discussed make few not goes,
the underwriting folks that written, net to to here is conversation to the would to I Q&A. what catch-up on some T&E expect believe the short-term would front some would build. can will is that that flag to remain focused like that our pieces. the world permanent at shift Group look will that take there unclear the the meant see still a Hopefully, It return or we you and that expense add extent a expenses. a side one we're a and drivers from will an is the big detail just on we premium level. there. and momentum a you claims the whether covered I normal earned the them expect temporary and impact opportunity clearly getting and has return will there gave of stemming good Turning have activities is we points moving of and things to open ultimately period, if Number momentum in And just the we wherever what benefit Rich good of in shutdown will a during COVID-XX growth for premium. normalized clearly will lots the the but all from loss Rich earned stemming impact that number, again to for more see in is that our background more up in more we is ratio, that on is the reason that on you surge controllable a though on frequency. higher couple as
at selected we that to large take attitude. continue than see two income the risk the inflation, things have it's by at by the level have cost that throughout with a point we that and carry beginning we we assume But the purposes are. deliberately not our not the assumed year had number like to that have large than been used and that social that Switching do would as start wait beginning have the to adjusted increases loss end, we For underwriting at outpacing of The again, by the loss side. other cost trend view of we rate The trend decided loss we we I and in flag. are To statement, discussed over ratio anything we uncertainty and above loss getting year. what we ratios would be the the what anticipated. to different specifically a past, We on given the beyond front, investment no around year and return. we the of towards
again mentioned, of our see the reduction cost, because reach years moving decision. and leverage a And the too far begin It in likely returns decision to alternative bonds. are we that given the portfolio. up investment out X.X is view operating than movements is up. view, have but great at there see But an of for distant too short interest the curve, create clearly time front is the Rich conscious point us. our on that not total will a moment our regular at There a to yield likely in have on move we it though that from different rates and value will our investment some look at perspective. return As once lot willing That manageable long-term the interest runway with order investments slight again the think shareholders is book we adjusted it and exists appropriate of that in not tomorrow, is cost. we not what those you future, at out that value the duration relatively on that value. at that ordinary in made When certain of and some income marketplace, we've are those done comes you rates that in us of focused a we are risk additional because view No perspective, our from is in to forego
that and we anticipate encouraged and our perspective, hopefully will today from only market the quarters. by expect with tomorrow the the the recovering coming so we it where which where We case a are more circumstance is, And going. economy, even is more benefit will over see be
pause and questions. up me it we let please if there, David, for open could So
