Very thank very Rich, helpful. you much.
So look, continues lines, any the to think operate we've in of to major own as past, drum. of in somewhat I discussed march their not market continue beat to where lockstep the the type
to In the addition to on that, marketplace strike the struggling continue hand, we need balance to to cost a with rate trying loss keeping with between see up trend, the desire grow. other and
a an as will ratio acceptable a industry looking which loss were as is is speaking, exercise, though, deliver practically that where It much challenging certain return achieve the want end. more you to. can, quickly This in a you really when becomes you grow to
remain a a focus us, loss believe deliver For for rate sure return and making our an keeping has and and, trend adequacy that reasonable comfortably. this to obviously, up that been is I results over continued us. we with has, priority ratio are time on demonstrated our support acceptable through will
A find couple parts of lines. have of playing we hope and in with Rich's that dovetail we're soundbites the product growing attractive more been I comments will defense. on marketplace some and major bit And marketplace it less and a and of the would where we
within the to one speaking starters, public that professional and line needs clearly carefully. pause think a I tread For place of D&O space is defense,
quickly. seems has We good been Clearly, to business are at a away that quite whittling erode margin seeing very but in be the pricing rapid there the pace.
what aggressive maybe And liability lines and, auto are course, are under is auto, GL of As points we space that see far lost That's requires I umbrella pricing. appropriately and But it into by is it of taking able not plaintiffs' is particularly challenging keep as on or is new over continue, commercial tactics. they the pay very umbrella. ultimately, of great in attention. that inflation, us a challenge. the through spilling and We think social bar especially close the up to also that one variety to it a and, with moment conditions, attachment and terms, we mean
the associated In is maybe occurrence that little addition on tail these lines a evidence particularly excuse some me, aspects extent, and product front on claims there on of of upfront. a made the claims extending that, bit, certain certain with the -- to to the growing
as finally the cat-exposed or to to where to think it non-cat additional what relates I Property, focus happen and spilling rate be into account seems property has over come that risk needed properties into is it required.
is The a think etcetera. storm, cat other opinion, piece I much past of my define at would the after an Tier And winter that's were I severe as front mind. afterthought. through, least becoming X in they are several things worth more mentioning, that bit of wildfire, which storm, These convective years, are
where things COVID, on the a Frequency to norm from to certainly going comp a medical past. comment front workers' payers, we're it medical. a frequency associated of head conditions that workers' period for is was see to that as coming to market more Last workers' slightly relates clearly, we've you caught medical reminder, of the are calls XX% see finally to break on more topic there rear every claims be the these all one over waiting is for its starting stems would was There in industry. time compensation, but a of was the a we during have discussed returned the has traditional as dollar inflation. expectation been our It space. that inflation compensation through and including with And
later on details on. the extent can we are get again, that So people interested more to into
certainly, that and space. we returns likely Last marketplace. appetite. continues encouraged be between the don't the very carriers, and They There for the the remains to the that are seem where are But E&S submission specialty, standard national And holds have an they to of particular, positive. where appetite, robust July early on comment particularly year great what beyond. balance an the aggressive. bifurcation this market, in we opportunity see The be on to have flow creating with is the continue very
the about from earlier we that year. we during increase continue with the benefited the talked what reasonably quarter which was top rate increases X.X% get, to comp the consistent was Obviously, rate saw we this ex Rich line.
exposure, we in in demonstrates, book the component And have about a opinion, think think ratio volatility risk folded certainly and balance key our we how around building how and is in portfolio value. is again, I how the that our loss we return. and, yet strategy into manage
sure we we're won't as go, dollars believe comfortably far about We touched Rich As that, and XX. thoughtful to the on well. leads remain that that us focused making on there's that spend remain expenses below nothing as very that number the
suggest of in able in impact an in moved to up. rates as discussed value remain addition And to adverse over we we portfolio, as we we've book we as benefited past, put to position took be we having rewarded Obviously, it money the our the the that work to say, were And duration. continue, that, pivoting relates less on to I to should investment -- me, for excuse at would and peers. of relative the quarter that it more X.X, I period around was at significant quickly yield rate Rich as last in X.X%, book come would many will money gather, into have higher we and upside to that you at mentioned of focus time. at the over rates duration some than our The the X.XX%-plus quarter. still new think probably was X.X
was as that, been just duration when Just we push would and you'll expect, to start window rounding. as as opportunity; that that really see said, again. to attention, likely presents That itself, close having for it are anything, the you out much of paying clarify
virtually I every a quarter things on us all think being So very equal, front. solid for
colleagues avoid it's done, -- to the take It the book account just into book our the and positive is I the a When is value, strategy that, no building is faced, particularly There the that the cat about steps in fared also generate take really they we goal is it effectively take spite Ultimately, a backwards. think the of XX% are great ability when And activity and I tribute is taking to day question you is think, you a you our when build you the well. of industry steps our value. to that that exercise is forward. how and to not return, all about executing. goal.
be Breanna, open to that, we'd with So Thank you. very it up for pleased questions.
