Karin. Thanks,
As per the from shown in share on in as impacted current cat periods. prior cat a quarter. were loss quarter $X.XX release, of well the earnings reflect by events some as events press Results development diluted third adverse
and quarter were I’ll were are up addition, earned a QX last premiums was of our year same year-to-date. discuss and over year-to-date. quarter strong in into convertible XX% expenses conversion year up to XX% gross premiums last debt up were up there portion equity, are In Gross some of related another a the XX% XX% sizable the written of quarter growth. which minute. from the same
that these to from $XX.X litigation We up loss and million the TypTap than helpful separate premiums the earned a is under happened million million normal before of were looking more XX%. Storm million quarter, of down Henri, development and driving quarter, was on Homeowners $XX premiums Storm Hurricane the expense The expense up up we Tropical last daily premiums in and Ida. both $XX quarter, expense, Ida that When gross two I for year do into breaks last separation $X.X up gross our XXX%. Consolidated losses gross color quarter the $X.X on claims written daily gross in cat in of wanted and of to were are cat loss storms made storms Sally for were $XX.X the this give the on from just earned These loss of of of company. earned written premiums same Tropical were for claims. quarter $XXX and expense of Hurricane little another litigation. were record The at the over quarter. Florida If year, rules. driver this million happened it million up cat million two change this being storms gross our expense. companies. XXX% insurance and growth Choice gross XX% premiums
the So TypTap’s let’s loss We as percentage performed than earned. the expected. expected. but was of has daily daily earned times, performing of and Why? gross last the a was discussed expected. business, homeowners come – loss for been it talked better The loss ratio attritional main call line quarter, On This TypTap. loss lower being and QX, lower ratio loss a in the this ratio expected better for quarter the in many TypTap last premiums improvement quarter. best percentage about ratios I gross million better to of expense. The premiums to way XX.X%. line quarter, was by third on XX% was attritional company was the the $XX.X And as is XX%, – this loss which biggest back In than than look expense this the was driver in loss ratio consolidated than of the at only by
Okay.
So to I balance at back that to top sheet. the something the wanted I come to mentioned related
XX%, shares up at Long-term sheet on than to the to by from at increased $XX quarter. million outstanding convertible end dropped and quarter, $XXX de-leveraging debt at also the At the of $XXX is end on converted bringing million And the quarter QX, I Book million the shares. of positive September. total the $XX that about end These our transactions Shareholder ongoing the end million of million. million equity $X increased the third of we these transactions similar impacts. end second an a is XX de-leveraging million to by third of converts. more of the common from that of have at per ratio in million count debt-to-cap number company’s the as the X,XXX,XXX we this As our booked $XX principal share there note balance down from shall October, of the mentioned, October was exchanged value X,XXX,XXX about finally, I In million, had an a the balance after share, just quarter you quarter. amount. $XX.X at is to process. $XXX end of know, $XX exchanges. outstanding we our to the XX% we of during expense X.XX June important a about down mention in for to material It’s $XX.X principal additional related third of million our about debt just a second of $X.X million
the conservative rather number than trust that cash other cash with on is operational as flow comments operations liquidity. far is excludes flow UPC, and through net Now operations as cash Cash million course, cash is this a is Consolidated cash. year, included, of over If and make from reserves wanted premium, the to up flow $XX cash because cash the quota flowing Group The $XXX it million. I were and other impact few it from cash also we driven, cash a since I HCI TypTap year-to-date. is assets $XXX but of $XX of mention strong Insurance that unearned consolidated account are of classify entities. from from flow $XX that million cash arrangement be of operations a consist higher would by operations should increasing. performance million flow from of million flow over $XX flow flow from share million so
We loss expense continue more we’re to expense out. paying than significantly in
insurance to have full liquidity, about holding with of cash surplus access company total million. and and Third of that To in the In the position million to liquidity the the $XX of just $XXX $XX for line on over we holding terms continues our investments available in Fifth companies a million are grow. strong credit and of liquid company summarize, both companies,
balance is going is sheet, already reserves, strengthening cash We strong going strengthening down. debt up, an are
are year-to-date. Paresh. over in we We hand I’ll profitable the And are that, with investing future, it to and
