Thank business and lines. in with new retention X.X% primarily increased rate with geographies driven classes Net commercial coupled by Jeff. you, of premiums strong business, targeted and achievement. during Starting quarter, written the
was and completed improvement in commercial now fully profit that growth on As in we go-forward as exit offset capabilities expand mentioned, over and was which commercial our our partially commercial segment. measure in business our service automation seeking a year. lines and significant of small lines, Georgia accounts our for We're already we successfully past Alabama, premium outsized the growth focused strategy
our from enhanced to time which on and seeing reminder, an or to will middle expect writing We're are we market a policy writer. straight-through business. rates and to rates account lines continue hit as our growth accounts. and lines of basis, to all frees we commercial commercial largely an small underwriters high-quality in give exposure attention and up improvements be rate product similar processing all be new service account our And offerings, across And
Last and analysis quarter, intelligence enhanced point-of-sale probable to of as for continuing we're modeling issues, analytical multiple new These risks, tools third-party identify artificial refine I to loss book utilization of property efforts lines comprehensive integrations data tools. improvement highlighted tools roof underwriting execute aerial include with commercial catastrophe imagery that to business. maximum such profit initiatives our the a several to utilization of fire
of These we're risks renewal our business identified applying significant nonrenewal also tools writing, them business, to loss. but of to in we're are higher number those as tools not only new the of ensuring resulting have having that the a the quality property propensity
are in business. lines business deductibles rolling all catastrophe-prone ratio we We're classes our our profit-challenged out in mandatory contributing of across the revising underwriting improvement wind/hail these believe all to the of current across actively actions also core and achieved guidelines in footprint. part We for quarter of certain areas of loss all
led increases followed the XX.X% quarter automobile XX.X%. commercial by commercial workers' exposure an achieved compensation. strong excluding increase remained This rate across in multi-peril Renewal XX.X%, at at we lines, as by and our rate average was
The driving year-over-year commercial third the loss XX.X% point a from combined the prior XX% ratio lines year was statutory improvement the down XX.X%, Large with was quarter. lower activity decrease. in X.X fire average severity quarter an for
expect in of the a fire through various strategic continued large actions. the reduction We implementation of see to likelihood losses
our weather event occurred of light that reduction also losses saw within given quarter. We lines a end the in outside headline the the commercial the at quarter weather-related our
Helene, a which hurricane Virginia on including the Georgia, Tennessee. made XX, footprint, our Category of as X landfall Carolinas, areas Hurricane September devastated and key
Fortunately, reported and minimal commercial for insureds had the date. our both our results, impact storm the of impact terms to losses of in lines
loss Turning to trends. other
just while increases below see physical sit moderate to end historical are trend the frequency longer-term in post-pandemic the the a liability severity trend. of trend. For during Auto ticked decreasing return and we're our quarter down to line, continuing frequency increases to and severity commercial our with damage historical line continuing auto,
in third-party to financing it of adjust changes. loss stay in But are monitoring offset to frequency we closely concerns the multi-peril to abuse, impact reflect severity the moderating largely of of large fire elevated, around Commercial increase but system gradual ahead industry still anchoring, impact have propensity attempting trends jury and To date, is nuclear while litigation legal trend for due increases trends the lower higher liability verdicts. our losses. are favorable severity, and that inflation, severity, social pricing we the monitoring
workers' inflation. in recent severity our our continuing saw the return line, anomalous half in steepening to to an of our line XXXX. increases quarters, are observations medical recent due assumption continues even Overall, longer-term we wage severity a follow compensation and loss workers' to negative frequency affirming compensation of business, increase trend of first For of trend, indemnity
continued The workers' from by rate bureaus. compensation with filed market very pressure decreases competitive is
adequacy can As near that nevertheless, this trends continue do we we we to pressure downward the term. experience look this rate due we in line see the abating forward signs to confident rate maintain we're to of But frequency any XXXX, business. of negative not in
were Shifting premium quarter, written continuation strong policy segment. X.X% personal that a increases business aggressive factors. X the increased for Net rate by and retention premiums offset of driven by to our lines third
we business as an business our elevated we're the reducing new to profitability typically generates. new in loss shared, given naturally First, maintain previously writings effort intentionally ratio
began business effective represents Insurance the in personal premiums. issues $XX state the million profitability approximately Second, book in business that of lines our recent Peninsula non-renewing Company legacy for of subsidiary's in given we Maryland, September, that
Peninsula runoff offset increases growth initiative partially impact XXXX this will our be when August on expect that of lines to personal complete. premium We through the rate
at our the in result as I third X.X% the lines for lines quarter. exposure described, and runoff, was start auto respectively, policyholders Despite XX.X%, XX.X% increases to policies homeowners strong renewal were our consistently retention XX.X%, prior Peninsula Personal the premiums. accept force of year the and continue higher just Primarily period. compared to declined renewal the of that rate personal indicating the overall and personal factors
pursue margin to which loss continue we essentially and resulting our increases exceed loss are combinations rate personal lines increases estimate overall, we'll net to few We reflects in rate metrics expansion. is trends. business in now increases, lines earned targeted cost offset of leads in rate-adequate to That me a personal profitability. Furthermore, states and that lines on premium
The combined decreased losses by and ratio XXX.X% driven prior a third compared year decrease compared was points favorable slightly XXXX, the of in the XXX.X% prior development. to to The year core largely loss XX.X auto statutory ratio period. quarter reserve personal in
for despite Homeowners losses points million with large improvement prior Georgia weather-related states, major and This comparable losses ancillary personal fire losses year impact period in of $X.X primarily Helene. of in the contributing impacted policyholders segment. our an in other Hurricane catastrophe lines slightly saw with the from our X.X improved impact
faced many our losses top And provide action priority disruptions well Hurricane that events. the understand of the support. during severe always, team And aftermath prepared of to many take during to who Georgia as thanks and in significant policyholders serve We the it much-needed state to claims the our and of policyholders is our Helene. are
At made Florida. event X weeks related time, no received have where claims we this we Hurricane was a to no Hurricane Milton Milton largely exposure. after Just Helene, this landfall Florida as have in
thoughts want affected to Southeast heartfelt by these corridor, we everyone natural For those extend to our across disasters. the
strategy. diversifying our and actively mitigate lines geographic property where of down of diversification the identified an personal benefit county to to personal execute write looking weather-related we're the book the this component to the level offensive footprint the lines to XX impact we're As grow and in optimize in losses. order where within We've states our of strategy, to we're shrink looking which we
in only During reduced counties the concentrations view reduction to successfully by wanted a shrink exposure in quarter, XX.X% counties to policies X% in third where our we force we as compared we acceptable. our
more within concentrations achieve execution resulting allow ongoing and this predictable footprint Our in will and manageable of us impacts. our stable strategy geographic loss to weather-related
the DeLamater. With that, over Dan call I'll turn to Dan?
