and welcome Jeff Thanks everyone.
Donegal ensure position For time. the will over have we that a in to to to past strategy book solid underwriting profitability that profitability two years an growth our our working team deliver has improve value foundation effective consistent been Group
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throughout norms XXXX. substantial in to operating were reduction compared our Weather conditions XXXX regions weather contributing related closer historical in to losses to
bottom The fourth key diluted evidenced highlight go prior for net by the the Class solid the of year. drivers through per Jeff the the fourth income results over improvement share. quarter significant will A line performance, was details of of quarter $X.XX
to that a earnings the during our fact as X.X% want two payments highlight by I dividend value the But increased the result declaration solid a book despite quarterly of quarter.
value by book XXXX. XX.X% year the $XX.XX increased per share during full to December at Our XX
we progress initiatives. perspective, continue operational an strategic throughout the and reported the From on we year of build solid a number to
with growth. Let's start premium
our progress business commercial mix personalized favor in and sustain We shift lines continue made to of to profitability. in returning
accounted year Commercial of writings of XX% to XX% business XXXX. full our the premiums for in total compared XXXX for approximately
led growth by Our was lines. and auto commercial commercial business multi commercial lines peril
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grow increase to opportunities profitably in our in commercial We scale lines regions see throughout XXXX. and attractive
profitable that of rate the line offset more of business we reductions generate which environment business rate writing's many results. Our despite than workers to compensation grow that in new to we line we were able in in were locations challenging operate, that pleased continues that
compensation in However year carefully our The regions. decrease continue combined ratio, continuation renewals trends and frequency core XX.X% for new loss underwrite year reserve over full to and a workers as trends and historical development we light statutory the to the year. severity ratio rates of continue our across reflects in accounts of declining favorable improve
We are commercial weather of excellent pleased combined statutory The business our in challenges by partially XX% commercial segment delivered workers that continuing losses a offset XXXX. a was favorable XXXX XXX.X% and results impact ratio compared to in compensation lines auto. lower of in related
see to focused returning compared results pleased XXXX, were of auto we profitability. targeted commercial that level to on we our to of our improvement remain While line in business
continue litigation trends to any recognized we further foreseeable to our increase are As we peers and to offset increases expect that as expected meaningful I and loss noted subside pervasive the that future./ in implementing premium degree unlikely rate to earlier, to due have
personal XXXX. full year lines. XX.X% to declined premiums and written the Moving fourth the quarter XX.X% Net for for
personal had in we where recent As in discussed exit profitability lines we the of decline states prior was portion not our seven calls, from the attributable years. in markets to a achieved
For the lines exit. the personal decline year in premiums to was written half that related approximately net
nearly impact as non-renewals that complete exit we those be expect seven in the to all in XXXX. and of quarter minimal We have completed first states the the of remaining
as of areas, premium our higher weather reinsurance lower We're certain see as performance beginning that lines prone in earned XXXX XXXX. we from improved result increases exposure as in personal rate to well and throughout benefiting implemented and late reducing from premiums a in
percentage XXXX in quarter. fourth Our compared core ratio the to points loss quarter improved prior the X of personal automobile
and in to improve personal to new working business favorable performance rates. book XXXX additional stabilize geographies are we pursue We retention further steps policy lines as prudent expect and of our take in business improvements
independent critical our through agents. and risk to we homeowners that design and we pricing project enhanced - to improve lines for new implement noted data personal Last we embarked profitable allow and noticed that utilize compete call modern more and on personal to that we precision tools segmentation quarter's products and us technology effectively a analytics business
new rolling made of quarter a We state a currently beginning basis using on in initiative platform agency significant products important portal, underwriting and our XXXX. new this on have streamlined in to second state progress the out plan by the begin
new And that business report multi-year major underwriting for of platform, compensation Mutual's software May effective systems now Donegal new speaking the am releases workers pleased four modernization I and live to the legacy project that first comprise policies of is Xst thereafter.
important all as migrate analysis. worked want members as for reporting to data have personally many the from to I project to to I.T. this modern milestone forward will consultants benefits to and as and units systems achieve the team in thank business of obtain members we project. our well personnel We we that of administration, look tirelessly this policy our
Sheboygan those As we insurance insurance several organization administrative noted quarter, our during fourth insurance of the an in and Mars or reduce we our were company company effective where into those simplify states and regions consolidated XXXX. branch with on were Atlantic December operating. The subsidiaries staffing, Le company Xst operations Falls minimal offices merged costs. mergers insurance to had the companies impact
for turn few that, overview return over then results to and quarterly our Thank Jeff the With of an I'll you. a closing call I'll comments. with
