Albert everyone. Thank an This and morning, was quarter you, excellent good for AXIS.
During we X.X%. million common the quarter, generated ROE available annualized income shareholders $XX of of to net an and
partially X% book per end. by and at Operating XX.X%. income operating net was This declared. $XX.XX or net reported value dividends unrealized year other was annualized by income common share generated. income was to of principally $XXX million in increased gains ROE with an comprehensive share almost $X.XX Diluted offset driven This
of produced current our net fixed losses accident diluted for common combined an by current in increase and of adjusted ratio be mix release, weather consolidated accident ratio of weather and X.X a of The loss point over prior on consolidated an per book of year noted year and were As value Both X.X press ex-cat the $XX.XX. of would points. available-for-sale unrealized increase maturities, business. company XX.X% ex-cat year XX% the quarter share impacted metrics these
Winter of $XX This or cat were and or and X.X points weather million million This points reinstatement quarter's or million premiums $XX cat primarily weather-related of net Elliot. Storm XXXX. of losses to X.X the to compares $XX was Out points. in losses X.X attributable reinsurance million to due $XX pre-tax
pandemic. contract handful attributable Additionally, These losses million we to A&H Japan. of to catastrophe in XOL COVID-XX were the had attributable a A&H $XX contracts,
no have other We in that to region. exposure countries
risk with losses We with political had due war. approximately also Russia-Ukraine million associated segment, of the insurance losses two-third with the war. associated These and $X to marine were in one-third
equally between million. favorable prior Net the split year was was development segments. This $X
As lines portfolio. loss reinsurance businesses, reserves we generally in years reserves the ago. lines insurance December, portfolio These announced relate were RiverStone to to liability pleased for in we complete International agreements and professional our that in had transfer exited with
reserves. cost acquired with protection was of million of net $X prior transaction impact in substantially year acquisition $XX the including quarter We of million. $X carried in and at development costs the the cost financial adverse The of a line reserve a million, our
financial illustrates the back of income statement financial transaction. We the have exhibit our investor of the included supplement, at an components which
As noted policy The provides ground-up of expenses limit a by $XXX for million increase approximately an and December release covers increase by cost the of net RiverStone, XX.X% insurance the reserves million. offset the issued points in acquisition cover to on was ratio driven and and transaction the largely by $XXX press in the segment, in an X.X over of losses reinsurance the quarter, XX, consolidated in was prior segment. this decrease loss a year
growth. a consolidated attributable largely was good prior earned expense XX.X%, point expense and net year quarter. was the control over ratio decrease of The G&A This to premium X.X
premiums net G&A quarterly We focus earned seen rate on was only expense be rate. our to of can controls. XX% our continue This expense growth growth our as
than normalized two the of was G&A our attributable XX.X%. in expense expense transition the $XX ratio expenses to This performance-related CEO related expenses lines lower corporate are excluded from current from of G&A compensation catastrophe quarter quarter largely ratio, was The exit mainly to million income. were the due business. Reorganization operating and to property of $X costs. Reorganization and reinsurance million expenses points
million in And the to strategic lastly, from compared prior $XX $XX quarter on a consolidated income in capital partners was basis, fee the million year.
like of that discuss updates disclosure bring purposes. to business made lines to I I'd to for your the some our Before segments, we attention
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property disclosures. X also lines updates. lines. reflect now are runoff segment, also on public Page have our amounts year as the catastrophe been update in descriptions the in apply within all our of This financial Prior these addition, identified to engineering and reclassified reinsurance supplement business company the business In will
and strong on in performance Gross Now, number health our $X.X highest of and had liability across to rate segments. it lines billion, property and the metrics. well making our Once a new marine let's with I'll lines. start lines XX% favorable changes business in written and business good increase to on The accident to production primarily insurance. insurance increased premiums in again, move ever. and discussion new by a related as quarter, aviation as quarter
year due and it's the and to fourth in improved full experience by principally decreased quarter. The basis, X.X loss a weather loss aviation lines. acquisition ratio rate the decreased to and by better loss On look at in property, marine current point ratio. The year run cost points ex-cat accident ratio X.X cyber
The year. The portfolio XX.X%, acquisition is to a Excluding the of costs. have commission point primarily the last related driven loss underwriting-related points ratio performance-related decrease decreased profit been in in transfer, ratio decrease premiums quarter, would earned personnel from mainly fourth decrease decrease net one and by G&A an a a cost compensation expense costs. costs in three by in the and increase
from is Now by quarter or remind premiums for was let's over move everyone that representing segment. quarter. the Reinsurance increase of the reinsurance compared for gross fourth the attributable in line annual attributable as as a smallest differences. adjustments, increased offset to the reinsurance, premiums. These decrease prior lines. just quarter to year premium gross written primarily liability The XX%, XX% lines the surety, line and to $XX I'll decrease and million on timing a segment's to segment's written premiums exit gross favorable credit in catastrophe in to notably in partially due as and as motor well the by business sizes of were business, increased lines, increases professional this new well
over the of mix loss and by year increased changes associated ex-cat to exit in ratio from and accident business business. property principally current with six catastrophe weather, due The points, of lines
inflationary one and current and we reviewed in we loss point. year-to-date the this ratios increased environment, impacted trend professional of our quarter loss motor assumptions lines by our Additionally, cost and given over business, liability the the
property cat, the from The for run rate full flat primarily ratio acquisition of by and reinsurance loss-sensitive XXXX. would For ex-property related business increased the ongoing in and of retrocessional credit performance, look is surety from and of I a attributable at This driven adjustments to to changes the mix, offset improved by business partially impact was essentially points, XX.X%, which year on loss view cost mainly loss business, business. by catastrophe in driven the contracts. business, X.X the our ratio exit features, by our better lines
costs, offset a was underwriting-related property in expense from related partially increased with one The to point, by catastrophe ratio related driven This partners. of fees to G&A by strategic our mainly capital and decrease decrease by personnel a arrangements lines business. in exit
up was In quarter, yield of investment investment to fourth increased the $XXX as last fourth XXX to of compared last fixed quarter XX% on XXXX. has million, the income income over maturities basis income from million, quarter million $XXX from XX net the the in million X.X% year, was over investment for points Net the $XXX X.X% from $XX the portfolio months.
as I a a book X.X%, of portfolio had noted, of fixed three year-end, at income At duration just the years. yield
market Our bit basis points and now yield. would X.XX%. is since X.X%, have rates declined XXX yield yield above note book at was that the our a I market year-end,
XXXX. our from Overall, $XXX duration a in the current improvement metrics of investment million strong for our underwriting the Given be we this in would continued positive than net operating maturities market quarter and and book, we core greater XXXX, expect in income most the least portfolio AXIS. at momentum in yields, fixed reported to was
fourth our commentary. summarizes I'll results. that, turn over quarter for the with Vince That to And call market
