am you, here, Scott, growth to I be and working the to everyone. and good Thank deliver stability. entire to too team looking and profitable forward I'm with morning, SiriusPoint Scott and pleased
was industry, I to responsible served that, at and for of and look Agency forward of As Director Directors member Canada. Canada priorities. in to the experience I setting Directors. CFO long-term I meeting Scott you a of and of and have as I Insurance Carpenter Board Prior the XX driving recently was I as Canada where said, years' Guy Board Managing company's Group, Group's the RSA strategic RSA most the RSA COO performance also all.
Turning to financials. SiriusPoint's QX
generated million or the a diluted loss we loss per For $X.XX quarter, a same third in diluted share ago. $XX quarter or of million the a share $XX versus per year $X.XX net net of
compared as underwriting $XXX the XXX.X%, a in a average on return negative million combined of had annualized We Our of common loss the XX.X%. a quarter year prior reflecting consolidated XX% $XX or million improvement with was ratio quarter. equity to
an which compares quarter and quarter $XX the a XXX.X%, including was for million XXX.X% ratio a third of in million loss underwriting $XX loss third Core of XXXX, and of combined XXXX. of loss the ratio of a million combined $XXX to
reinstatement $XX of for results $XX percentage points, accounts estimate. net or losses, of Our Hurricane premiums third quarter a which $XXX include Ian reflecting XX.X million loss of catastrophe billion million, industry
hail The typhoons. remainder driven are by France of Asian and largely losses catastrophic
COVID, currency financial and the and good with very news no limited Russia-Ukraine ultimate news and to reserving picks, our the is quickly loss recognizing in For slowly original our of approach change quarter. holding conflict hence, bad impact
services and approach holding to book as for reserving ratios wait segment, loss cautious despite this for at a take season. to we picks most versus continue positive growing insurance the original our expected trends actual We to
our to reserving, the in this this as of the update, we've pricing With evaluated inflation, to quarter's trend respect allow we adjust was level inflation to to our elevated earlier and action taken expected of pricing for have level covered inflation. elevated in assumptions year current expected of last and impact
the our impact allowances is uncertainty, that monitor question relatively This a environment and have within adequate to a established. that high of impact portfolio analyze situation and without degree the in our we will maintain its given to concluded established were continue reserves for estimates. reserve pricing We inflationary with and on existing order already dynamic the is and uncertainty
profitability. segment, strategy million, of written quarter shifting and reinsurance the $XXX improve were premiums of our growth same insurance is growth our our quarter volatility services business reflects or million earnings XX%. Core underwriting gross third reduce a year mix $XXX a $XXX for and in business to year-over-year to insurance which compared to is and The ago, driven from the by million
Insurance predominantly income of income Turning underwriting associated ratio XXX.X%. $X $X services of benefited year, net of million to expansion in contributing versus IMG's results produced IMG's services the along included Net the Net services loss Armada. and from individual outpaced from services consisting million, Arcadian products. an $XX an travel million $XX in income with revenue, from services growth expenses stronger and more combined million medical to in segment the performance which primarily prior revenue income with of detail. margin $X continued and of million core
adverse strengthening and year Insurance was prior which compensation workers' included emergence. of reserves reported development, driven profit loss by based services on underwriting
year prior development, ratio loss was XX.X%. adverse accident Excluding year the combined
million, gross in $XXX from continuing prior the our portfolios million the Health year, Insurance organic top were in written Both quarters. XXXX. and providing meaningful & Property compared segment premiums legacy are relationships to line Accident and and trend Casualty $XXX both services growth the with in and new prior growth
Looking with early in business in new new period markets. forward, their X we writing on the brought partners successes
partners. aligned For interest we can continue service a plans be to where opportunistic we feel with potential the the to future, provide management from our to marketplace foreseeable
Reinsurance XX% combined gross XXX.X%, segment our to XX.X reshaping undertaken quarter million the continue loss primarily including in wind in exposure. impacted portfolio reduced strategic million year-over-year. the premiums of U.S. ratio million due to our the the tail in months, XX-plus was of season, curve, cat over PML entered million in our the reduction and dramatic our reflect as in $XXX contributing of were quarter, cat ratio. to an property third points last $XXX associated compared the combined prior the $XX The we We written the entire cat property had underwriting results significant PMLs down of improvements across year, and reductions an segment $XXX business. by Southeast The the to of losses the
underwriting than reinsurance our of However, lines, specialty remains the we while to books volatility we long Outside casualty specialty our for continue appetite. in in growth term and property globally. property to are our have re-underwrite want on focus targeted property, risk niche other continue within more
Core the of million ratio. underwriting or X.X% underwriting expense for XXXX $XX expenses a were quarter third
improve While investments our to to we in business, operational Insurance keep with the continue track Services continue efficiency invest and capabilities. gains to
in the and million Corporate were inclusive related expenses, fees. expenses, quarter, change severance of services expense, excluding $XX a management professional
with items, million previous these in quarters. the quarter, line Excluding were for $XX expenses corporate
the foreign the The related and return third was roughly million party of was on investment [TPOP] portfolio. our $X by by currency-denominated positive loss quarter. $XX liabilities The to losses the million, investments FX-driven related more party primarily due million, of investment quarter driven than net debt. from return loss our debt $X funds securities investment offset the gains results which million long-term in $X investment a Enhanced Third Point losses on includes are in and for in $XX of with losses funds investment FX offset million the by negative $X million, fund our of of other X.X% and
trading a income available-for-sale recall, As portfolio action quarter, in portfolio took an fixed new to from shift you the second investments. may for we to
$X posture. FX. to and the defensive positioning duration security XX, on its September was this $X.X including other rising XX, the short comprehensive and rates credit peers was and under for billion, September in spreads, and balance of income held income from $XX outperformed portfolio our widening due benchmarks fixed Despite X AFS months ended portfolio As million loss of the fixed million the
We duration capture forward market going yields and the extend higher our intend portfolio. to actively of
As investment grow AFS portion securities the to we income cash and and decreasing. expect short-term strategy to continue investments, deploy continue of and to investment reinvest forward go volatility we our
unchanged sub X.X% total including in equity. quarter was the is except to Issued sheet in our billion our for denominated billion. Tangible kroner share was the in and quarter. fell balance Swedish diluted debt $X.X Total ratio quarter, remains Our debt debt, capital, changes value of ending the strong, per $X.X with shareholders' FX XX%. debt capital book
like his now, much. Scott to you And I'd concluding hand remarks. to it Thank for very back
