today. and all Thank us you for thank joining Wasef you,
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to the yield terms X.X% first-half with investment investment Net of ’XX quarter. for similar first-half. significantly in point significant investment quarter X.X% net improvement yields quarter. to led in ’XX X.X of of rising also the a larger together, of to an combined for a in the the on portfolio. better rates investments in the annualized income and well overall This reinvestment interest as and second point second showed was yield result than a the the This improvement first-half X.X is improvements rates investment When the first gained to
our average duration in the and improved we X.X portfolio, at income fixed overall Specifically the maintained to A average rating years. credit
Turning are balance total to up equity billion million. the $XXX.X total and assets sheet, X.X% to over increased $X.X to XX.X%
place. in million We know, X night, policy front, under On existing repurchase specifics authorization. year provided press amended approximately in repurchase common that under and from as a last the dividend the our authorization. common our capital shares ago continued million And X.X we've share management we got remains release to you our shares the
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over of All return XX.X%, second in, quarter second quarter a equity improvement core average over last annualized the annualized average points an of delivered we improvement and on representing XX.X last an of equity representing the point return of of X year year. XX%, operating
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we're announced. the foreign address to what that exchange discussing I markets, Before transactions the we in just seeing want
to you to to comment the reflected offering it per currently balance This related believed our versus But all results simply, shareholders. an cash $XX.X liability $X.XX the our in the and As I warrants. and remind third rationale and to management on option is the warrants. sheet share best won't exchange quarter would already the XX.XX existing I we further, to million exchange. going outstanding but the is commenced be that Board carrying take happy this our for XXXX any the we're I'm for was midst exchange warrants know, much are of on in questions million as listeners non-dilutive
it's and by So trends this by said pronounced similar certain in opportunities, territory. plenty pronounced moving on and to of anticipating. or to with were of but within than geographies conditions There of call do vary many portfolio with quarter's areas line market, lines in more we our what rates fairly less the last are
allowing So, is we're be healthy submission taking which we selective more books. us continue flow, very risk the to the to in on see
momentum in opportunities ahead, political markets property, the violence about continue engineering, book. optimistic we our and of So, in our reinsurance to course be and but particularly the treaty our
well that the the year. second-half Now we're into of
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treaty XX% conditions history improvements last on the the our of call, mean, we've momentum we in QX. strong the company. that in the than as net business, rate And saw In these we seen best said quarter's reinsurance continues. more I cumulative of some of are
second the course, earlier, and noted up in, was mostly environment, U.S. over of Europe. predominantly than I new written driven As of and rating more by ’XX, quarter business the in increased the premium gross XX%
and business We continuing new this to of write portfolio. are find plenty to opportunity grow
which of our historical the at over the business. piece is especially or as disciplined conditions XX% this working segment again, and you persist, become, portfolio. the expect full-year, as It selective appetite, portfolio always, we're can in double levels. favorable represented roughly at But cat within risk being about as But XX% should of long exposed significant and of more year in more first-half about about the to these just come level our total for for XX% out and
and continue the by but story in region impacts rates variation tail the net much both and remains of we positive Overall mixed pricing segment, remain as in is the geographic business cumulative competitive long by pressures. In line line this of territory, very there segment. seeing
most For context years. these increases rate well in three that note to of would I the lines sake, had over have four last triple-digits compound
levels. So, another institutions, and pressured consecutive financial continue rates margin But rating we've at in renewal adequacy be DNO seen remains acceptable quarter compression. most where of to
General casualty pace, trend, this are slower lines following geographies. at a albeit different
Middle of and finding as Elsewhere, U.K.-based than remains more than more you holding still rate predominantly we’re with opportunities business indemnity, So some all East. X%. professional in up the good net increases adequate is know,
approach will similar take selective lines we continue to Although the trend business. this the worryingly Overall, class the to looking business is and segment. within to cautious other for of
markets. -- XX% writing. all Looking markets rate all at than outpace in we're our to with our continues more the geographic lines The other increases U.S.
tail in this As U.S. short property, ‘XX. over side tail sale gross of million long we're short to just all XX% business, shy predominantly you spot. writing Europe premium mostly and represents of first-half a business with That the be of bit $XX know, energy, the and written growth the bright In about on year, first-half a continues treaty of the is business of we've the contingency. where a
in Oslo, of continue in product to build our offering rest we European announced year working the and include and the which growth XXXX our expect into markets. as expand in hard acquisition which QX, to we for platforms, We Nordic the relationships out of
remains healthy market other show increased Middle example engineering we're in pressures continues with especially and America there East, lines, good tends property the markets violence. the world. Latin of pockets rate clear In correlated momentum. good evidence that There but be to around competitive political seeing less still opportunities, of
the continues summary, to as discipline. as remain and was to were of mean, it's but in, show expecting for Asia second portfolio optimistic quite expand improvement, quarter continue the outset momentum we more In we at said, supportingly our in ever, to with as All year. critical though. current not rate the pronounced I maintain than now overall opportunity to market our profitably. and the the I us positive focus
congratulate we we're continue the produce I sharing Wasef’s now. beginning sustainable effortlessly, the would and of all call that not execute who work our service, is profitable quality like at people, only not with always of service reiterate well and the and business to just Growing you service, comments easy. portfolio is to well, can the that results our easy, growing but
over our For at. that's returns the each IGI, dynamics lose line the market we comes and us, us generating differentiates longer is in keeping shifting strong cycle can and to we the shareholders throughout what territory good when we of for on are believe each in staying And selective And of. it what top sight never what term.
here to we'll question, the for ready take turn it pause to going first questions. Operator, I'm over we're So please. and
