Thank today. and joining for us you, thank Kirk, you all
performance, provide initiatives. objectives of highlights will first our our our key I in progress achieving and quarter into some insights offering discuss strategic
with on Following report to another which details remarks, income the my million. Kirk metrics, the Q&A.I will solid for of am pleased $XX consecutive results key after call financial performance financial net provide first we of for will quarter open quarter
of this improvement making the initiatives we well with weather are last our quarter. the benefit profitability reflects as progress The strategic as from year favorable
capital providing a and include for appropriate last rate the described quarter, portfolio. profitability the I our market adequacy, selective diversified initiatives underwriting, allocation, As and balanced coverage strategic
quarterly the that initiatives enable consistent, combination value. achieve to long-term and believe shareholder of will earnings We Heritage these
while These products XX we rate continued has in filings planned to XXXX across and the over XXXX. with Our for achieving over rate throughout our policy resulted our had XX filings book focus on in-force count combined, led states XXXX. in decreasing rating to premium and in actions rate adequacy XXXX highest levels
maintaining over-concentrated tightening underwriting and in products. discipline, also criteria markets policies restricting are within guidelines for business new our for We regulatory including underwriting
and capital products maximize long-term recurrence. are We geographies allocating that to
exposure XXXX. focus During selectively by over while continue personal policy our count residential recent XX.X% Florida by in-force commercial practices TIV, positive XXXX the insured quarter, claim X.X% only personal Florida the from reduced We line XX.X% a product of increased Reducing only policies-in-force quarter lines QX we remains and and key and abuse to value, reduce year of our grew premium XX.X% impact total or quarter; XX.X%. by the realized. will legislation prior of from increased fourth for is a the until
disciplined our Our resulted diversified substantial despite XX% generating portfolio five the X.X% business. four X.X%, focus underwriting count while grew premiums-in-force. by in commercial top a than representing state within policy the by and in more continued The of and balanced increase reduction TIV states grew in the adequacy on of average of states XX.X%. TIV an X.X% Efforts while an company's states increase smaller rate maintain approach no a to with portfolio in other
TIV all XXXX XXXX. quarter of of the XX.X% result compared first TIV all to personal in a XX.X% lines in represented of X of first As the the space diversification the efforts, top quarter
a We opportunities will continue maintaining while to portfolio. seek profitable balanced
is it working when program, and finalize it we'll our catastrophe announce We are XXXX completed. reinsurance to
to FHCF layer in placed. provide issued of deferred catastrophe Last was company. year's $XXX will the will limit year, Re, XXXX Assist to protection. the also at remaining reinsurance and program to the Citrus costs flow include provides Reinsurance multiyear catastrophe we reinsurance because program to This fully million by reinsurance bonds The Policyholders program, cost which from also known Florida our RAP, as RAP already no
complementing anticipate this placement with ILS traditional reinsurance We another year's transaction.
to Given manage the reinsurance and, evaluate manage adjust exposure expected and pricing we continue going reinsurance. the concentration will to our capacity for portfolio and therefore, catastrophe cost forward, of
This includes write expect may existing regulations. of of new with while business the and limiting amount amount we we the business compliance state review maintaining to individual
targeted favorable our XXXX effectiveness results position Our first the and underscore throughout financial will made the in underwriting planned quarter a increases rate anticipate for the changes impact our of on strategies. the and XXXX year. We have
future. the could XX.X% Efforts the Florida growth dampen of quarter count on well market away have lines environment long-term to posed a This last to claims by first earnings our as quarterly continue sustainable challenges actions in position company the the personal We the take compared shift future focused rating consistent, market. and to are achieving Florida will to policy that reduction year. We underwriting Florida temporarily and in acknowledge litigated we the and shareholder business the from for value. the in led believe
the CFO results. Bill during unchanged I abuse will Florida state encouragement the being the passed special a said, meaningful curtail remain call see Florida of and we related to be changes important continue the to favorable optimistic I Governor market legislation claim until our stabilize legislature, December goals Kirk, That quarter's Senate XA our insurance of want to and on the sustained the turning impact legislative to the to my Before call and legislature. property will accomplish practices. last reiterate that of over of strategy this our during the Florida session
quarter results a metrics. now review me the in to performance Kirk Let turn things financial for the and key over of
