Dino Robusto | Chairman & Chief Executive Officer |
Ralitza Todorova | Assistant Vice President of Corporate Development |
Scott Lindquist | Executive Vice President & Chief Financial Officer |
Josh Shanker | Bank of America |
Gary Ransom | Dowling & Partners |
Meyer Shields | KBW |
[Call starts abruptly] International gross written premiums grew 4% and 12%, excluding currency fluctuation. Net written premiums grew 1% or 8% excluding currency fluctuation. Renewal premium change in international was plus 12% with rate and exposure, both up 6%. Retention was also strong at 82%.
We are very pleased with our international operation as it increasingly contributes to the success of the overall company.