dive and then the details. results, Good brief a of morning. financial some I'll of into begin our with very overview
Our growth expectations. our meeting is
Platinum $X to And year, over marketing premium we're described, billion. our not property the brand grew You directional. in only program direct that and agency written just strength see, and leveraging Heather just Progressive the but last
it's The more four talk but that. a lot we'll goals our not year, combined and about ratio last points about by meeting improved still detail in
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channel. is brand That's Home. the direct seeing from bar to consumer completed to business. Progressive The ARX orange the conversion in new percentage We've our until to ASI the very pretty direct almost growth high we're
So home your Progressive recent on those Home saw the Progressive deck most of you was ensure page, your logo. you who
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now for So described agents that states. the portfolio in is Heather XX program
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those XX% of all combine of we you when growth, sources So had growth XXXX. in
we growth the continue channel. consumer looks agency like sales direct are to But XXXX underlying strong in to and pretty at Looking the have our it without that book flat. denominator, new role in both
grow our the we of mix of as things, outside businesses shifting. Now ASI's original
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to expansion the -- of exposures. into about the than those has rest where expansion half. for XX% So more the of we've the only are now country now states our come Florida And accounts point
that now means that especially bigger in winds to way exposed a and hail. expansion also Now, we new perils, are
the the the of And at the orange with look and you property then bars blue at of bottom part the wind great over components last part perils few the years, is The ratio hail. hurricane these loss other is our the of losses. part all policy If coverage. top is
has that though stable on predictable. other and last premium see other to We've from than our been hail to peril Wind you XX% of has selection. been and the pricing very XX% gone all close to all more peril XX% So expectations section year.
our profit So, part important for meeting and an would pricing and getting be really hands around is hail our goals. of appropriately what our wind costs expectations
program. more in a talk reinsurance I'll detail Now later about
results that how and net differences in here, highlight of our results. sort Just direct between
shows years. in result. over So our at line The combined is Home the Progressive the here direct lower ASI for blue the net the line ratio the top
our was So the of to early premiums seeding partners. in reinsurance lot years, ASI
have any years, didn't seeding We hurricanes in making losses. landfall weren't so those any we
ratio net years kept ratio net working last our where and the the hurricanes with the so losses near In than And the big had the higher years has Irma been combined few loss And intended. combined Michael, some reinsurance as reinsurance we've program was has or XXX. hurricane in direct.
where with with Now, been recent it's we the our worth industry. satisfied noting been haven't that results, consistent even years in we've these
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did transition minute for profitability. improve talk and plans And our to for a year we'll about what me last to year let beyond. we So then this
states. the as here, blue map the hail the On called states
year. the so rate on shows chart our increases the And last right
And X% hail those compared then almost X% changes. in covers implemented also up states, the rates the So country. the in rest we of to we took some
the them from customers do well-maintained the roof deductibles damage. aggressively small new wind hail marketing company. free So from it suggesting the insurance get require on doesn't did that could roofers any But shouldn't there's roofer or we really fairly new things. customers, that We started to to issue our higher roof hail on their a states stars help buy a prevent them, have falls and the that to when and two the
we there's response But higher, when cases that claim the customer's report it is visible to Now, clear that it's them can repair we customer's a in from is in to we roofer. as that to submit likely the roof help damaged, they're have less pay the no a to the made. if found as want our little pitch deductible get quickly and so customer claim, want possible the where we marketing damage
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XXX the last blue we to rest in those year, of XX.X actions an in despite Now, combined states combined ran the country. compared at ratio the ratio
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only to models us have We we good had be, predict losses are will X pretty hurricane available for convective models understand help likely recently, storms. what until severe to
the I'm X-year those for modeled the annual what from hail a period. those thunderstorms And our prediction and So average models be over big and loss should wind showing caused from wind are hail. that here
actual our losses what like. look Here's
model helping not which of good predicts should expect is doing the a of So, terms us job and hail. we claims wind from in what
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see our of losses models light actual the here is we shows in to the model compared prediction paid. blue bar, orange has that So the which that what been
decisions new now and model using pricing for hail. our in So wind that we're
more feel much we going priced accurately So we will that forward. comfortable be
grow to continue we to business, to profitability. want also we this work Now, while the improve
out the in we're of what calling version the of property And rolling process X.X so our we product. are
we've the collecting As Cleveland in their and our gotten been the feedback the of price states, so product able that's auto to rest to very Heather data be. sophisticated where been we've we're R&D tools gulf the helpful to grown more of progress outside well. most lot use a country. And segmentation, the us from collaborate team we've Platinum with mentioned this help needs get agents, as to
in contracts through appetite So, dog able unusual other And preferred We've pay excuse were the exclusions expand because our fairly to been that we restrictive put we further, of from to eligibility to Shepherd their in this the able brought me we've the list markets. here so an endorsements, was removed were than back. were used coverage ineligible. a market. studied we've the that to as cases, some that much more breeds some picture in German and underwriting have of gives we puppy long And
this little Home. Progressive insurance be guy So eligible for now would
and talk conservative a We reinsurance program. intend reinsurance me our for very a maintain to Let that. about program continue minute
On the three to single year. it's catastrophe in for side, coverage hurricanes major designed the provide
Florida. on So, the you coverage for available far the first left, event see our in
do. voluntary there from is single a fund, the So of the today, catastrophe losses is And in required retain is reinsurance $XX section to Florida part participate first blue then the in structured the that a and market were million that's the program The that reinsurance hurricane way middle we the event. buy. gray state farms we
have top, Altogether, a in have insurance And billion an almost then finally of for catastrophe links $X.X we bonds coverage so event security. the we at losses.
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would million have And event. this $XXX as second a even then we
is event, event. Irma $XXX And Hurricane we've estimate of would remaining we second put to third is losses have expensive that ultimate in a million. than less As our encountered. the million storm in $XXX Irma ever And for coverage most context, for a
we the of catastrophe structure feel program. So about good the
top business slowly, buy the the bottom also at even we grow, to more expect we to the to to that volatility continues That's earlier. increase and of retention described cover in hail have limited the expect program. I And at As wind program. an the and our we aggregate reinsurance
have hailstorms, So with year reach lot could retention. put likely million $XX if hailstorm is a of pressure loss a we to that our But individual on that no ratio.
from catastrophe loss ahead In previous a had attachment to of point so based get program switch on recovery reached a an far years, ratio that we We year reinsurance. aggregate that this attachment the excess we was loss of loss ratio program. the
So year's we up the $XXX that. first program, have coverage to million $XXX catastrophe and retain for million this of we above in then losses,
you wind have year So in that if kick would really aggregate we with recovery. and lots a program bad have activity, of hail and a
important our It's see results. to change property change result volatility a in you that in that may to that note the monthly
that XXXX. reported, that blue line we the showing didn't month have So property based ratio combined reinsurance. reported shows what aggregate orange would line Progressive each if The what in shows we have loss here, ratio we're the
like combined January, So you month, very the in weather see a was was XX. it below ratio
no So for aggregate recovery. need there's
was The changed attachment the the hit point That for year-to-date approached weather In ratio combined February a in as XXX, but month. that yet busier March. we hadn't reinsurance.
weather we reinsurance about the again, our a XXX. in So March and reported March ratio was recovery but had busy combined a now so month, on was,
then the each would or recovery up through rest year, of month the go And down on weather. based the the
months. We see April, June quiet. in that recovery, of and in then busier actually you some So May reversed relatively but
but combined the reported So was reinsurance we again, -- pretty ratio in recovery our stable. increase, we had
program, we get a we this losses. that total $XXX to aggregate unless won't on in recovery year's million With have catastrophe
early if So in higher full months of report there's be the reinsurance we we the year expect have of month will a years, a lot a to difficult. the where but are available the results combined weather ratio, needed
in brief about year, that. for looking for is improving of very number job just with business description the lot a We've our property the So, profitability. a priorities talked one
Because on our focus business is people last XXX more years, fast a people to over the XXXX than and working than of from gone culture. business in the in three second The people. property growth the we've this less
to of spent people a jobs, that So their so Progressive really that with in coaching on for important those want a effort are and effective we and stay long lot it's development enjoy their career time. jobs
quote know to page, seen as And efficient quote points noticed portfolio in further grow buy easy and by our if first in improve it can efficiency policies processes than customers We was the ratio home opportunity there. for wouldn't and be we gains. some down to agents we've our per make We that for quoting policy. explorer continue reduce the and more don't to to expense and and investments cost or I become X opportunities you have by more XXXX. on
here is we the on work experience. then the focus to customer And And finally, improve those want to bundled customers.
your a think that'll customer time. that your the across So customer retention those has same all we experiences is the for to the compared align experience our on are we And different better policy. auto example, And long to even home billing products. of bundled customers in will there today keep instances policy where, so want experience result those for bundled
So pause and with up an questions. briefly give opportunity Thank we will come to and we'll John you. that, for just Tricia