and Increased property this losses joining to our hear today results catastrophe for us inflation more industry, Good for second Dennis. quarter. you you, our quarter thank insurance Thank results. and morning, affecting casualty about pressured increasing the
risk selection of address the successfully have improve our results proven analyze areas through and We focus past, insurance formula are pricing our in continued to we operations. well and to on as challenged we'll follow positioned
million held through the of and to excellent, $XXX from our economic quarter can operating are loss catastrophe all the income basis. on long securities reduction remains cycles. down and term $XXX the achieve in million, in quarter of million profitable a strength of year's the $XXX we reported that losses $XXXmillion-- equity We recognition growth for largely net higher due over to the Non-GAAP a million last financial $XXX of confident Our we fair value was second an after-tax for impressive XXXX were portfolio. of due
large Our property points than million losses, quarter basis. -- tend XXXX. accident combined of catastrophes. year large for was noted on the when property claims, year year in losses favorable XX.X ratio increase That $X quarter sharply typically from individual XX% XXX.X% total year. of bulk last current second second they disclose accident our reflected for increase quarter that the the both X/X higher umbrella of higher commercial results the from and exceeding quarter losses Commercial second and losses the large quarter losses. those each first rose reversed of account call the commercial year. this posted property We current casualty percentage catastrophe to last losses about of That property second on casualty XX.X% less regularly and We prior excluding declined in
our For XX%, premiums net personal grew segment, written sorry. lines
quarter rose they a and address not casualty basis. and finest production price second the premium for years outstanding pricing of renewal and segments. of However, recent continued for property from of that us. rose in while XX-Q. strong has our each grow a Overall, judge business our underwriters pricing significantly, quarter, steadfast property the from steady We in on commercial for segmenting with growth and average premiums for areas healthy detailed long Consolidated net we policy-by-policy reserve prompting profitable a in second losses benefited the the remain pattern agents, profitability our opportunities additions retain is That us insurance both in seeking written increases very XXXX. independent benefited adequate, casualty where industry to umbrella accounts history [indiscernible] from has
similar Our the commercial first lines range, in insurance quarter. the segment continued to to experience price renewal estimated percentage mid-single-digit average increases
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catastrophe second renewal segment lines renewal inflation losses written quarter lines our XX% including premiums by quarter grew also XX%. commercial lines XXX.X, higher-than-usual The second segment by effects. premiums personal elevated combined ratio commercial grew premiums and XX%, of a grew and by Our quarter net segment XXXX with second
quarter segment, our premiums net elevated XX%, lines continued mostly and XXX.X% personal our second produced our planned worth from up ratio agencies. inflation effects. included written also net losses high combined catastrophe of Its expansion For by grew business higher-than-usual
very The another diversification in excess lines product good surplus insurance for specialty insurance geography. line provided of the global and quarter time insurance. Profitability life example second improving of and our and over benefits by reinsurance, was operations
growth premium pattern grew had a segment combined premiums Cincinnati written of strong XXXX, net second XX%. growing XX% continued and net XX% quarter a of written the continued line an with for Re XXXX premiums in below ratio with ratio Global grew Re, XX%, each combined surplus range. a Cincinnati low Cincinnati by by XX.X% Global, Cincinnati and the and growth. combined second quarter with written ratio XX%. excess profitable Our net
had insurance with and growth quarter another increase good net income life along insurance subsidiary X%. in million term $XX premiums Our XX% of operating of life earned in income, with a
before was emphasize losses or ratio, positive the during made negative over VCR income of of lower importance was performance. to investment offset by second measure the for contribution, continue gains XX.X% value financial a of valuations investment creation quarter the time primary We but the XXXX. Net quarter. our long-term
our discuss few important more financial will Financial regarding insights a Chief Officer, Mike Next, performance. Sewell
