on thanks forward and joining us look financial with Murray, results today. to the you everyone, who our I is here. call QX sharing Thanks,
joined served, that, previously to I Before Integration well as Counsel wanted joined to Chief and of Deputy I of BEN. and GWG where in BEN, get accounting audit GWG setting BEN's accounting other bit up Staff, this into legal financial contributed significant you where practices I and on myself. year, BEN's President, a the little also about as I significantly of as and of program, BEN's the structure just there. as spend parts give Vice I the form Chief General group of background And the time working Officer. May
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career has so been in field. most of legal And on accounting the and focused my
financials. to QX Moving the
I the the XXXX think a discussion review. then the sheet, we'll metrics by sales discussion to And with that GWG. of have financial life the portfolio the followed we QX we'll that at here balance and see move start then we'll -- of investment summit
quarter with let's the So second start metrics. XXXX
returns second cutting over not the at million from nature QX. A the QX our significant largely see the variance. less significantly, That's couple here purchase over higher policies GWG, also portfolio period, the QX, during to present Then of that the there for out able against on opposed we revenue or the we of that bought look million were the we on to variance $X.X in of quarter. quarter, sequentially, driven to as and fewer so you in QX $X.X the bottom can things had Based quarter. in QX financials as over But QX back our is XXXX. was our prior to that the realize gains versus that additional that point $XXX,XXX look purchased were income here contributes we about down prior by about that in $X.X policies so lower left of million we at frequent of about gains,
lot those we significantly see in related transaction by as number $X.X going of expenses continuing expenses, higher in see, of expenses QX legal expense a increased QX. are the personnel, that with the along over side, are On in million those quarters. expenses. million, largely recurring expenses in do the related we insurance transaction and $X.X we we see the as we see not which future -- would other see or A constituted expenses costs Also forward
We million in $X.X second additional interest had also quarter. expense the of
in sheet, sheet that We'll turn sheet. We see take balance increase BEN's in to hand size the and to in On a can graph transaction XXXX. balance in the that's of BEN's BEN's XXXX. attributable QX the closed at bottom QX the of a left was BEN balance see significant of you now here look
BEN. the that when up was and we matches looking this of -- were on As speaking to assets you, Murray the overall chart, at
considerable on three factors. Bond biggest offering XXXX three primary you'll months. As was was L to that a little paused for QX is the in liquidity, the one note liquidity, by of driven drop one, over Number the there that a
were time, we was certainly and During offering L pause. not so liquidity that our by that Bonds affected
And creditor is our reduction some then a $XX additional in our redirected accounts took item the senior investments we that so quarter. the about Second, in We third our made liquidity down towards million there. that capital BEN, for some paid difference we that line. by senior
slide, next the see we'll On investment sales. our
that the to offer fact investment we only L XXXX, quarter. in of capital to largely steady of but and L the strong non-correlated program. below in far selling the again, see this market. these to QX rest raise they're we'll Again, yields continue We and Bond Bonds of quarter quarters, that attribute primarily sales our L through we've one were what prior the Bonds that seen the that month assets for are We attractive see
more had So on of a what we seen in would I to line see expect think we something typical before. quarter,
no current at One L our at that, current time. X.X% yields note X.X% falling yields sitting thing to on those environment are to in of are the still there here this is rates, Bond interest discussions changing and
one more that just time slide please. to addition, can In go we back
On of so mix our that we're you in one just Bond that consistent and point month pretty our representative though the want active sales the were right fairly sales even staying by one term, side, current even sales are effectively we of balance, only out the the that, can among consistent see quarter month Again, pretty profile. hand mix. we're past in I seeing was maturity sales of that L quarter,
few overall, we do for on handled that's on that consistent we're work been work to mix, the staying past but Some could quarters. that how there
here investment our our keeping are we things an lot rates sales. maturities. our a focus on just renewal and on Two eye Further on
in again we last months on left those on offering the Bonds, big we the renewals. the think were L if QX the this, I during that bottom say chart for that not Obviously Bonds, we're to L time here I'll we see it's the renew a there's not able XXXX, but were dark. dip the
renewal we will the for see So closer QX. something XX% to rate
quarters, as we XX% in the you'll our into though early we've back XX% expect we relaunch see look August of in prior a that were come you renewals. seen and be to back strong staying renewal market to those have in from rate back successful and If range
through the is the maturities we keep something next can see few are maturities have XXXX certainly taking look eye the you taking then marked be This our of we here, into to as And company, together. going out performance our And and maturities grouped that, what then on we that future a on the see at we past are over account we're anything years. that,
Let's turn portfolio. now the to
current XX policy to is aged that benefits half what's face amount the $XXX those $X.X over. As balance evidence more Murray that of chart, benefits we have books carried $XXX hand of are our those about policies, that's a right on of the by going at see our portfolio indicative are over have think we I of see. are portfolio that we're $XXX million coming a just portfolio. of about that's -- I half on of there out who for And seasoning policy. consistent think said, backed All backed And the insureds the about by And sheet. mature further million. our or accounts We of billion we million,
fact a support benefits policy. seen says cash that of And since to So QX, quarter. month premiums, -- and the that there. of for that now off just XX in versus in year. to see so for year the returned we've further you period XX had see the we strong our have benefits XXXX blue, it's months each flows the XXXX, the that the by trailing in that been are record that's both each as for of premiums so we year-to-date for the than growing. can as strong portfolio reflected dark well And as value created for and period required numbers, QX we more the can happy being also report this showing, any bring for we And in full ahead all are the dollar year. is light XXXX, us the we've further are of puts chart our see, of for again, to that XXXX, blue, And prior exceeded maturity just And XXXX, ratio -- last stronger the every can seasoning year-to-date
Go to next slide here.
$XXX that the And XX bring on the to of so more that, last slide million. XX older. plus have policy. at just is here so the $XXX we'll in the XX chart or see we're to million, can also the rather, that's around We that was age saw right shows another through XX going you see million right up here portfolio We in about insureds of running that $XXX the
So insureds are years at than age. our that full older are of XX backed XX.X% of by benefits or
portfolio strong portfolio rating we about or So whose right again, is -- or is that whose creditors. by supported supported excuse creditors. half portfolio, A the by with creditors strong or, is on Over and half so of strong strong S&P see our portfolio right strong obligation about higher, me, plus
is my of the That review financials. QX
it Murray discuss turn I'll back forward. path our So to at this to time,
