Thank you, Pete.
and to is trends open XXXX. having discuss in now positioning in of of And for firming call quarter, we'll its starting fourth in get Let's eighth rate increases. period the of the the compound benefit our price market then quarter started This we're questions.
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business. our pricing improved seeing in also excess we're Additionally, of loss
our quarter, and divisions. a renewal positive America had both North During season spring in Asia-Pacific the we
strong noted, growth combination the Pete than more Pacific share remained down. the renewals. to than April of better new at premiums Japan very Japan pricing, Asia Rest Australia, markets to particularly As modestly saw where was gains. and and in This of business we a X Other flat due doubled
quarter most Florida in were health modest lines. benefiting life some second June and as an In short-term big dominated of which in we're There, from X on The is the renewals, we're exception. seeing improvements interest catastrophe Accident we're underlying our were placements. seeing always, business. item division, North medical the American by and the pressure
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use cut property the portfolio on optimize also We treaties. back some our opportunity to and further
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Our industry few the of perspective trends several believe years of impact have reacting that this appropriately is to negative is We loss the that loss-driven over declines. and that years correction. is past a price exacerbated have the deteriorated
future. believe with, number a Moreover, our these to have pricing. dissipate unlikely benefit from recent still that able of even result reserve for will business two an that underwriters hard This earnings more is at past. are this market action in fact adequately. of this a as and the carriers they construction caution seen will believe view portfolio XXXX last with that Current a reasons were made type the lines Indeed, paramount. is prepared it's to into price longer We that including releases increases But have that of last perhaps not everything I the market. market factors. and where are almost We important to the years, in be is not priced years we've also as the acceptable selection be well trends that many will loss unlikely we've in continue the factors, these near it's differentiating of in company for that our us changes will the the few be
of contributed Its Lastly, year, trapped has to is reinsurers industry. about think to some critically doubt no I'd the stressed which retro from risk-adjusted Markets cover the actions of investors. given this their to redemptions Capital capital and the just the been it's corrections participation There and we in business, returns strategies our discussed. have more caused dissatisfied like that
their good for sums In investors. the on also this development, write array very industry developments will year proud disciplined and money that ILS broader number for good that us attractive has a too capital industry, of thing an requiring and acted as industry That's capital The prepared more for premium risk-adjusted behalf is indication and to money That work year AXIS. returns. a in third-party this a as that put and companies of regard, successfully long gross I'm more AXIS participant allowed be to fees but from raised to and was our are of the this of cheap this process. was losses. adequate unlimited, our if with think a generate third-party small unconcerned one in that large I
fee and $XX Our progress up attractive were streams. fees profit This of from is half to and our partnerships part of this in year strategic XX% our first making way we're and business an on great well million. important to revenues the
the it's So and our good to that to making strength actions conclude, we're the a strategy the disciplined of we're that quarter been speaks and progress taking.
is growth looking Our pathway to profitable good.
We an many had we've must best And we benefits the to do, well-positioned increasingly more years. attractive portfolio reap market. that AXIS while is there's of have the in
the And now, for questions. let's line please open
