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spend few areas seven, just will minutes slide the to discussing now highlighted. I Turning Mark a three
credit well-capitalized. insurance Generally, First credit, to event are recover positioned from on is withstand the a it. and we industry well quickly
However, as this stress page, of in left-hand portfolio. on see withstand Equitable significant our better investment side can the you can
an similar to XX range is XXX% is that event by global better within crisis top this than the drop In points XXX% will points. independent stay the peers stress of which At target Autonomous, at XXXX, that versus credit a our shows a RBC. event, peers, of of in holds XX financial to up our that only we with ratio RBC
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In roughly that current arise, our points fully statutory levels means in year's likely generation be And to back capital last, able will our build remain quarter one capital a generate material the within per time. will XX to regulatory company. we credit RBC the event This excess retirement we should XXXX, strong.
summary, quality cycle. and able in So credit is to withstand in stresses the our portfolio high
portfolio, provide the next and billion attractive exposure which loan is an account. our to represents grade. Equitable. coverage mortgage XX% have general debt address The Within fundamentals mortgage sectors $XX reflected allocations is which approximately rated and service underlying loans our I we with by of of hold These of will X.X in industrial. investment a loans housing commercial CMLs portfolio XX%, highly-diversified multifamily loan-to-value investment a for an ratio average risk-adjusted diversified resilient, resilient agricultural the times of loans, through The which our topic and ratio portfolio, is our of real-estate portfolio XX%
the in use attractive an comparable of relative value rising that historical multiple portfolio, earn over excellent everyone our It of is level feel update means have points like typically shareholders the which basis They loan-to-value making and quality market capital. of highest XX performance way From an across them CMLs not every measure maturity, reflect COVID down-cycles. perspective, giving transparency. to more a it recent fixed also does. developments the our we we impact appropriate that our This loan-to-values note and to is rate, year, important
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we In turbulent summary, Equitable markets. have long and space history this through manage expertise a to has in
record or proof through the or track losses is Our COVID-XX global of pandemic having financial delinquencies crisis this. of no
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by primarily large This financial the our are to into as creates more to a if dominant their than friction operational through As means with institutions they These that susceptible for their money, couple a and of result, like money crisis. funds aren't are of retirement advisors would consequences banks balances are cash. This accounts accounts. to move client tax seen on tax clients advantaged sold liquidate and XX% we affected in retail.
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is current not portfolio to can through In necessarily year. cycles. a less assets duration lapses structure assets maturity investment obligations. our long and over to our market and is meet gap proven us hold Our from This half protect than means to different of summary, true to the the be high-quality sell required term this has products
XX, I it know, results moves impact the industry. We're fair market for as over we to for increase to transparency change the first the cash industry slide hedging total quarter. finally to or change will And Equitable, excited entire is is accounting our biggest program here. This value. in you closer to Turning no the the Company has believe regime, because this for will quarter new highlight which flows this in accounting the for XX years, our
million earnings basis, $XXX share, XX% and quarter. to reported volatility, operating or in quarter. spread alternative income higher saw year-over-year We fourth lower offsetting up the $X.XX the our On RILA per a mortality non-GAAP we of compared returns,
surrender focuses which offset are accumulation-oriented as I and to experience volatility cash our policies protection positive business which are face mortality As last leading These We and helped you in LDTI. previously, of with two on under policies can had higher adverse QX reserved XXXX, discussed the volatility amounts. quarters VUL expect experience. results QX in in mortality at values,
to into nine our a expectation line COVID be last account with on taking sensitivities. continues Over basis, the cumulative quarters, mortality in
alternatives were year-over-year, Additionally, you as expect. would lower
growth experienced gains private our and in portfolio which XXXX. traditional, by investments, Our declines equity estate strategies, our which had was equity in performance offset real strong in
items and notable by alternative $XXX the year-over-year. but the share buyback, operating largely which of over million down driven basis a share impact year-over-year reduced was of or comparable the on $X.XX This per returns, X% earnings in were non-GAAP X% offset $XX fourth market for XX% our quarter, up Adjusting by by quarter. per share, million lower count share
the In of additional our we we the of results, and quarter, an also which growing productivity $XX execute continue benefit see against spread can million you our to savings as our SCS in in business captured strategy.
XX%, interest-rate OCI. we reported captured the net our and reduced Turning movements which million general $XXX are in to of results, GAAP a sensitivity LDTI's This quarter. account positive reflect income hedges to equity in by
line drove and assets management under assets Quarter-end in movement, market as under declines year-over-year administration market lower. was with
elevated first inflows in However, and of markets administration management each under quarter. last in the net and X% businesses our the quarter drove versus assets up
$XXX our Turning capital In in market to quarter. of to in management which slide capital has returned includes X quarter, enabled $XXX XX, volatility. a we resulting reduction share us despite million the the prudent the million count repurchases, million, ongoing consistently return
value X%, the over have through shareholder ability we earlier, XX shares demonstrating our highlighted challenging I to create As last months by reduced markets. our
following latest debt net the in This number cash April. We $X.X at of of a maturity repayment the have company. holding billion cash is our
This until us navigate debt financial to reminder, going a have maturities more we provides cycles market XXXX. through no flexibility various forward. As
are guidance our of Management to the Additionally, of from generation track the This holding for enabled year. diverse Retirement company by investment of billion on cash generation with our business. for this entities Wealth we contract AB, sources, $X.X our nearly XX% unregulated and coming is cash
bring our increase X.X%, X% to we dividend the this company. to for dividend This up per up Later intend which share, XXX our the month, to $X.XX. S&P is from nearly average will yield above $X.XX yield
remarks. back to now turn for will call closing Mark? Mark I the
