Kathy. you, Thank
largest annualized a within our a fourth combined X.X% on adjusted Employers. quarter, and we segment, During ratio equity operating of the XX.X% return delivered
in earned were This our earned premium ago. premiums quarter, year-over-year. the quarter $XXX consecutive increased marked the million For million versus which $XXX year our second net a
audit of and premium to half premium strong in the during business continued due second expansion Our year were appetite efforts, the California, new strong recognition. particularly writings further writings,
million adjustment result $XX recognized period. the loss less loss during the current year primarily and of was million increase reserve versus ago. $XX The development losses a expenses Our were
Underwriting from greater we decrease as expense expenses and XXXX, commissions as reductions our a and quarter of resulted were departures, versus we writing new by as and ago. million compensation the fourth result professional such a year versus million. $XX employee XXXX, well reduced fees, targeted $XX a increase $XX by million expenses expenses of fixed which $XX were loss in of Commission during savings, The income reserves reserves From business million premium. while During its for were our $XX ratios increased had and our administrative year $XX respectively. of on $XX reporting Employers prior segment XX.X% million $XX the reduced fourth loss and assessments. current prior reduced reduction The year combined quarter general And earned year perspective, of quarter underwriting a million our ago. the ago. a segment was versus the a million amount year XX.X% million in
down a year ago. loss also million of date. remain loss XXXX million have from premium had segment Cerity $X.X several very over of and into which $X.X underwriting an increased Our underwriting the an months about We consistently past to Cerity's the enthusiastic for quarter, writings,
at credit portfolio. +, book year Turning our and investments year, of investment quarter net average and an and fourth and equity investments, a A our at the Also of X.X average $XX was our other end, to year was million income our for fixed our of end. duration last maturities that X% quarter, the represented securities quality with had investment yield total consistent of of XX%
unrealized was impacted per by share unrealized gains impacted book each fixed after-tax, are reflected are sheet. income net And our stockholders favorably quarter million by unfavorably of Our our statement. losses net securities, $XX on quarter this were reflected which income value our after-tax $XX investments, and from on other equity which of this equity from securities million and balance maturity
$XX.XX bought During we of the quarter, further a we $XX.XX. year-end, of at share. at per common million repurchased of per price stock And our an stock since price share $X.X of million an average average $X.X
Our is XXth yesterday, a quarter on shareholders turn payable of stands on March per repurchase currently to Xst. now our of remaining XXXX at record Kathy. which $XX.X million. of first authorization it dividend $X.XX back March And share, share to I Directors And will Board declared
