in particular, morning. of with our the good and of In plans insurance I’ll the on come. some and initiatives to experience. sustained leveraging and we’re by to results customer overview segment. geographic key operations are our overall the enhance focused ability areas generate to will of begin our initiatives then outperformance our Mark, an expansion that Thanks, technology strategic These drive discuss years
to This X% partner Lines, footprint. a our in a share market are excess of seek targets of the XX% Lines each and relationships, $X markets billion of translates Commercial build Commercial opportunity share an long-term or XX% to in existing wallet Our distribution goal of representing additional a premium agency. in in
and Southwest presence We distribution six. and franchise recent Lines states, for Colorado bringing Mexico recent opened Mexico new in the in this with earlier Arizona on opening X,XXX New this with including year, approximately our over have have successfully We’ve of distribution the which with X,XXX been We’ve we XX to with total Arizona established and complementing XX, a far So store Commercial fronts. and New partners, partners, the of strong in our Mexico plans, Utah the Colorado. appointed our strategy expansion been outlined eight, month, newly with XX these maintained states quarters. Utah opening New and Utah, in executing geographic expansion
for this moving Lines fourth our open quarter plans year. the also Utah in with Arizona to and of Personal forward We’re
early pleased of being new Our we’re business with are presented. opportunities strong and the quality results
digital experience prefer our overall a now in for strong that We available interact their enhance offerings increasing Commercial goal continue in retention Policyholders us strive them. XX/X platform our and towards option Take-up omni-channel enabling rates to help technologies to to rates environment both over choosing. deliver customer time. us a to fully with that customers experience invest manner of Personal Lines. experience, will superior a We are a with in in the have a digital
changes and enhancing in XXX distribution of engage manner information to management to customers, to our us choosing. data ability recalls, effectively. activity our us messaging a partners customers allows with capabilities loss proactive This service policy view their potential with of master our through a degree provide our policyholders Our product relation in or
regardless choose a this will with they partners, executing have path customers to so how interact us. on seamless We’re agency concert experience our with in that our of
call, customer to increasing clients, further employ add in a our for mentioned looking with last towards satisfaction. are solutions our for we we to ways goal As technology value
to rates. help expect We initiatives and business these increase ratios retention new over time
driver For Lines phone information phase fleet location the policyholders to Selective and Drive pilot behavior. driving is sensors program driving rolled for and Drive connected such such improve in auto as the in out our motion. telematics when Commercial driving speed, and detect provides example, with driver’s fleets. This It platform is and events vehicles we turning. and route can a Selective braking management uses harsh measuring also as static sudden access by the XX
charge currently behavior. expect while to leading time, add customers, is our offered to for of business service also customers, We which driving free over that this improve well value
Turning underwriting to our operations.
Our XX% premiums growth increases net by nine of and represented price which overall retention Standard X% quarter, for stable for Commercial pure the Lines X.X%. written generated of of segment, premiums months, driven the first XX% renewal
stable rates, Lines to with renewal a XX.X% partners. Our ability of on strong basis. to while basis a an generated pricing a is underlying The XX.X% reported Commercial relationship distribution segment maintain our achieving our and on combined ratio retention testament
For nine reported generated ratio XX.X% months a the an the combined underlying basis the on first year, of XX.X% and on basis. segment
of Commercial accounts X.X% of probability nine months achieved Standard for pure the XX%. year-to-date. of the year This on our the cohort Commercial we renewal premium for highest XX% first For renewal based the of rate represented retention expectations, and future point Lines of quality Lines
for underwriting improvement changes, deliver X.X%, approach exceed at declined to price achieved quarter, increases and continuing to but continue of results renewal. this had quarter as Direct philosophy. in renewal the largest mix the third year-to-date to through companies nine business, of first months our for million decline this third business totaled Drilling achieved renewal conditions, first pure favorable Liability, increases line combined within reserve year. premium of we substantially pricing nine the adjustment growth allows for or development in reflects seek by Lines, our generating Commercial for past business favorable that granular first XX.X% months generally claim so On the on rate competitive expenses of and disciplined business of primarily line up a new new pure X.X% for releases opportunities. of The through the nine in trends loss several pure of ratio the led We the achieve meaningful X% strategy rate General This to lower-quality context expected the inflation. us reserve new growth, of the focused X% year. while to the over of or We on quarter the down far premiums year. so administering XX% renewal Reserve our while do additional ratio will the new XX% to years, generated XX.X% for have moderated XXXX. remain point frequency Decreasing business while accounts, line. development due which months, in $X years equal represented loss for XXXX of market the accident relations to retaining out quarter, the pricing
worked accident X.X% year-to-date the significant renewal achieved severities This basis, On compensation was in result months million development the line first we as the workers’ and third XXXX as a of for a and to expected nine prior the of Our pressure. for quarter year price reserve favorable for we year. prior. XX.X% of the industry-wide XX.X% hold have combined ratio in than experienced context lower of the quarter, $XX line years of pure
In included the inflation loss for frequencies. lead has first the modest challenge liability quarter reserves, third remain those the prior claim profitability as reported $XX elevated of and years, years accident as experience trends support overall reserve casualty in significant and costs Commercial in the million nine our significant accident reductions industry of affecting auto while in due particular, and not year. years. auto XXXX. severities medical to Results both XXX.X% been the for In and reversal frequencies, XXXX do prior unfavorable remained us. of increase emergence current development commercial to book, The loss been and year was quarter higher-claim increases year can XXX.X% in in due in results of for for case ratio of favorable a prior has months well result the While on accident mainly combined margins to higher the renewals. recent strong year current
take and In increases addition, into the steps have loss we elevated this the that the by averaged quarter XXXX this increase severities Unfortunately, This of benefit taking XXXX. increases active a seen been continued so to million, that year. current that in price loss loss estimate increases. year is on implementing have address of line far X.X% frequencies X.X% during in experience. earned in top we have We’ve profitability increased by price price offset $XX of X.X% in account and
we the that forward. moving such, elevated support believe additionally As loss trend should
asset In increases, actively renewal higher classes. exposures new managing our and been targeted we’ve addition industry to segments to books and price in reducing also
Our technology by driving initiatives help the experience Drive apps. program with around Selective also should improving sensor loss
commercial catastrophe of property by This cat this industry XXX.X% losses non-catastrophe but generated substantial generally for ratio the year combined the remains the two the levels years. and been for losses. Results of competitive, and weather over combined impacted ratio past and quarter despite have months XXX.X% year. for first line third nine book non-cat the elevated Our
is loss price pricing needed commercial property appears Renewal this inherent to industry have to business direction, heading of pure in increases claimed year. year be reflect averaged While so this rate and start suggests volatility the activity more of recent since X% the the the far right line. for
nine was the quarter, elevated, this ratio year for the third XX.X% but and quarter increased in The combined months months, in first from a have the first profitable lowering improvement point data produced growth ratio losses Lines generated months. the driven expense development costs Lower first basis progress Weather-related from GAAP for Net Personal the auto. we’ve were scale ratio The a reduced and competitive of Lines were expense nine in XX.X% generated personal growth Our of manageable. Personal which in We’ve segment, ratios XX.X% the by nine significant quarter, for premiums significant represented which X% the for segment, for XX% segment made compared the a losses. XXX third with year a catastrophe prior approximately of combined down. environment line premiums taking pricing drive points helped ago. including during efforts benefits to technology been homeowners limit flat and to catastrophe of written expenses the XXX% XX.X due exposure. all
XXXX for Our prior period, averaging book net rate incorporate averaged In X% combined expected rate and the excess in Renewal pure personal first earned XXX% line during the increased scale ratio plans should quarter. along the generating for to filings written and approximately business our X.X% premiums and driven this of quarter pricing auto improve increases auto, greater price year the on third higher of line. year. our X.X% compared the new XXX% same growth. Profitability of efficiencies, in personal for the was this inflation. claim for with by benefits nine The of with
averaging plans approximately XXXX incorporate rate Our for X%. filings
segment, net X% quarter a the generated XX% year total period. E&S in written ago of represented nine third first which compared for with the months growth Our premiums
premiums increased X%. nine the For first months, written net
for quarter relationship into accident lines X.X% We’ve aggressively profitability on $X was Results of underwriting increases, The the unfavorable exit the included new in reestablished business quarter. good price and classes, ratio in price at quarter feel segment quarter primarily addressing about particularly the targeted this third nine that of impact Overall have the Over XXXX. taken relationships. in past the increases XX.X% standards. the the while underperforming combined large premium the We the months. growth pricing quarter relating we we to net shifts one some of target casualty in entering first book, in-force in distribution reflects third the levels. E&S The third and essentially development million which for reserve averaged XXX% year. steps through second year, the is been XXXX in to improved mix
believe While a remain with the development prior probable we plans our set on right emergence the have for reserves pleased Overall, of of extremely path the year and we we execution been generating has adverse on taking been position steps of growth. us market our profitability. disappointment,
focus customer While that omni-channel tools discipline, in maintain underwriting for and environment open the enhancing well steadfast an price The model, technology loss on sophisticated current that, franchise up a underwriting position the today we’ll making questions. in exceeding differentiating distribution is for outperformance. been our factors inflation. With and overall investments and pure experience we’ve our remain estimates achieving for sustained we’re Operator? us call
