profitability appropriate continues of our per strong power multi-line encouraging strong experience reflects Thanks call. signs of third to improvement and industry an segments P&C operating solid most on Last fundamentals costly of This catastrophe and those disciplined quarters. this our up such our results XXXX and were underwriting, makes backdrop focus Ryan, Retirement successful a reflect reactions evening, of result and level $X.XX reported decade. to Against execution very good strong company, macro insurance earnings quarter to of welcome underlying diversified what business had challenging I and years we is the a income the model. to risk believe volatility. both successful and be over of results the our unprecedented shaping to principles. everyone P&C in of in challenging trends. the morning diversification, The period one weather Life share. important show it's nimble auto
P&C losses To due to in storm book volatile As of you're play to we does the potential results results hurricane our year-to-date convective quarter we've exposure second a balance to those conscious made our seeing Midwest. and out that the strategy in said before, coastal decision generate tend results. activity reduce
losses quarter experience in but significantly estimates. to underwriting year market loss hurricane avoid actions coastal the share is This half were below first the our related that weather challenging of likely to Our third damage. are due more in experience the largely was prudent areas to
weather ratio in frequency $X.X quarter first line our in the to is Today, X.X several for million to million to property higher Hurricane agents with place low as the market Florida related years at to These we points. in catastrophe third non our patterns, were the cat the year property and losses Irma include Florida homeowner prior loss was average. customers historical quarter particularly $X or underlying Harvey Non $X.X of Third of the coverage ago. were with a related in party year This strong was Irma. XX.X. than in exit weather resulted losses partners. third similar were cat chose million half which contrast
weather-related a very impacts property slightly for XXX year property all the below ratio the for of to of quality and of result combined the our business. reported full industry segment our book to expect the further XXXX, confirmation We considering produce underlying a strong
signs improvement see see Last experienced, fourth taking was We cat it our year. prior at ratio, losses more The XX.XX, of produced auto trend a on non nine and improvement. expect underlying our the the year. was close related are loss we're In in point and see by of prior a basis was we a hard achieve And [indiscernible] we X.X hold increases a quarter The quarter, margin actions strong margin month initiatives the loss in improvement but continue a auto will profitability elevated to our the you XXXX. were typical third auto. because to profitability in highest non were that tracking can clearly weather cat quarter, third as to confidence continued we that result quarter, historically auto we weather over confident rate we we underlying But has in ratio which the improvement improvement. that encouraged XX.X, trends the this year. level sustained continue to saw underlying would
are reported by we loss loss get XX.X. This will points. points improvement nearly our of X on digit point to we P&C recently As ROE there X XXXX at increase year to conference, the results, ROE compared ratio improvement which a focused defined X full KBW auto key the components, ratio back the included is double of laser stated X we first getting To level.
points to course While improvement we improvement won't in the of we get over the X.X year. expect points next points XXXX, entire of X of X
ROE to expense level is base. our reducing second The improvement
reduction infrastructure producing are we X% every and make improvements. of made additional an For to continue efficiency ROE. The that meaningful [indiscernible] X/XX of have generate we a investments point
to on that organization XXXX. to their invest have business our customer-centric terms. expense taking expect distribution these products begin them certain their in with to multi-channel ensure we customers, and allow nimble support the us action would our continue infrastructure impacts right for full-year and educator right course the to relationship of As we to areas the needs, are options to over their result That of will size emerge we a reductions said, our of
The a Advantage. an compliant as well earnings third mutual is retirement Department consistent provide a introduced to trends with aggressively structure. strategic compensation priority markets our management. under management third It seeing suite, retail consumer design are prior Labor they produced fixed and product selections. ROE spread contains intensive based We products. surrender based capital higher in is Retirement as ROE to lever remain vendors The and of recently addition interest traditional a crediting new design the of significantly are industry levelized party as a based line annuity lower both and we institutional compared our fee of retirement array under a improvement product grow fee significant option, they rate eliminates cost assets of from in emerging suite. sales charges additional assets fund for with as fund is Growing year. up a robust they diversification, an source line less as traditional our in The Retirement product
seeing our up Sales fee under are growth nearly XX%. products. fund XX% based in were mutual We strong assets management and increased
with with experiencing reoccurring a to annuity strong Deposits continue sales consistent annuity into the premium are industry. are premium broader be prior single products consistent fixed and our decline We periods. in
around quarter XXXX for our based the versus We the gives and between retirement presentation have third products. you included spread that based supplemental a investor split of schedule management sales assets additional in fee detail under
This we strategy, begin front infrastructure an On channel. our overarching a customers claims and successfully customer options products that P&C preferred includes improve quality decrease phase a our right cycle relationship platform, of phase their make will with educator through Guidewire. the to modernization which We infrastructure experience. and we claims that us distribution new customer continue on modern, to first a PDI launched time systems market, the progress supports ensuring with have highly experience allow for
In a new we addition, for data repository P&C launched systems.
segmented move As we our allow enhancements warehouse. shift data will with will more we modernization to continued singular This process for experience multi-year data and further our a forward efficiencies. customer of
with serve a be better. our and our our allows picture Our more and customers which agents household, provide and holistic employees will data across integrated a to employees highly agents systems customer's of
expect phase, was to systems. schedule extensive of a implementation. the amount business time diligence new in repository every which facet see [indiscernible] efficiencies we on-budget, will the over implementation time of emerge that on-time modernize while first many was implementation preparation additional as also pipe we and We launch further efficiencies our this We of were of widen spent experience. successful we and greater infrastructure our of in due and our enhancement expect as to for to underwriting attribute this with to Like robust the well we as to initial the P&C volumes our customer multi-year very pleased project completely pricing improving support phase This abilities. investments, also data provide product segmentation other
in the they were early of very the and I ROE strong high Thanks, results, over continued over Bret. confidence I'll model implementation. strong they progress business illustrate multi-line pleased a time. call have on the of We our are and and and Overall, smooth degree improved signs quarter's focused with fundamentals of this am to now turn