Thanks, Marita everyone. morning good and
I losses. some periods transaction and for First, announced I on year prior am going earnings we yesterday. of to year-to-date diluted the and per share Core walk will down from through higher quarter primarily catastrophe the because results were share $X.XX our $X.XX details then operating of
$X.XX about impact of ratio we in year our results are $X.XX. guidance to XX full in full catastrophe losses points. to the revising such, the EPS on range This for As year guidance of combined the
more over that XXXX you weight on for believe weather may planning, experienced we we cat patterns. past which impact few put the we As reflect elevated of losses the the changing recall years,
set impact As experience recent EPS our we the more heavily when I expect cat of continue we we to on losses XXXX likely look XXXX, our to weigh cat guidance.
X on higher-than-modeled progress are this time, stated are As second drivers ROE a load year’s losses solid in our points. percentage the by the Marita has noted, The effect. and ROE. expectations we temporary At third to a catastrophe improving on quarters significantly are progress making higher our we making masking above catastrophe same nearly
to we ROE. committed double-digit to returning However, remain a
segment ratio to P&C for of results, Turning points XX.X was which the XXX.X%, quarter the losses. included catastrophe combined
quarter’s underlying and on and loss for on property declared strength the peers a property, The our points improved loss expect catastrophes on proximity XX.X% As In points slightly ratio weather Policyholder points the of year-to-date PCS continues close included actions. some positively. are underlying months underlying steady trend rate at outside of written X% losses and points for X.X on and business to XX.X% as the quarter auto elevated These higher largely of Net to also non-cat increased the the increased our to underlying year’s year we the retention for now X.X results. ratio losses quarter X.X end Marita quarter basis. for the the auto X the property. some the reporting. for loss last ratio Accordingly, events X.X remained year-to-date founders. over mentioned, premiums
I on moving on Before Hurricane comment to to retirement, Michael. want
in from the our $X initiatives or with losses especially underwriting eliminated have million about property Florida, estimating we reduced While exposure, in customer in are those in-land coastal North of Carolina. many event,
retirement full these load of related year-over-year. and an year for were product for an from sales expenses fee-based investment infrastructure. $X.X additional million increases third about the events. as XX partially in as X% In percentage year other decreased offset $XX.X anticipates up period. management million under assets prior Our our quarter from net income, unlocking, were investments about in Higher losses to Net points the retirement, in in XX% sales guidance long-term DAC catastrophe for the the million excluding up primarily to about potential $XX.X well income XX% quarter of catastrophe increase due
million of Annuity XXX at annuity $XX.X spread points a For persistency quarter The year, annualized excluding fixed interest the net $XX.X XX%. DAC on unlocking, the first under remained from from prepayment increased in was benefiting activity. million year. management assets X months net last income, strong of higher-than-expected little basis roughly X% over the
spread and guidance $XX third retirement tightening to year net $X.X quarter and full unlocking federal this the the $XX to net in million, excluding million XX% over for into due In decline the expect lower segment, We our life XXXX prior-year fourth are tax was a DAC million. quarter XXXX to income, increase income to rate. therefore
prior months, Year-to-date, $X.X up million XX% For XX%. X% income net increased the for $XX about over from million the sales X million. quarter to roughly life by of are year, $X.X increased sales
in quarter increase to for recent quarter the expect We double-digit year, rate as our to the strongest history. slow a achieve start sales fourth but full to sales last year’s was expect
We over range $XX compared $XX our prepayment for year year. to quarter increased of a full level and are X% previous million. as the to guidance million first prior activity $XX year of life income for months higher from income Net to significantly the net year $XX of investment experienced also X million we prior raising million to the X% the
investments portfolio returns alternative experienced We from the favorable quarter. in P&C also the during
X%, the over spread of unrealized increases rates new interest have insurance The on resulted total remains the over yield also the While led as in yield continue portfolio fixed recent majority to to slightly income our increases in portfolio, we long-duration supports expect have life our which lower rate liabilities. of average money X%. gains recent compression
or and on little economic reported of our are While value, interest book value, the portfolio. gains allocations no cycle. a we unrealized conservative fluctuation and long ago. have rate up impact cautious they credit duration from with Book on in driven portfolio X% remain late given outlook excluding gains, remain the affected overall unrealized is year this We view
purchase BCG transaction, and we a $XX for privately record retirement agreement keeper to Benefit definitive the administrator in signed Group, million held plan to cash. a Turning Consultants have
XXXX close to deal of FINRA. to the regulatory expect approvals, the in first half including We subject
flexibility explore growth capital strategic continue organic we opportunities and or to Our remains sheet improve the to have profitable inorganic balance and ROE. position accelerate strong to
share overall This focused annual includes strategy most business shareholders to on back management dividend our market targets, is conditions. our is a above growth capital ROE capital. given via also accretive portion and opportunistic uses of the returning compelling at Our when significant or earnings of buybacks
only by the to profitable million turn entire accelerate achieving Heather of fact, we’re of repurchase strategic a At That during toward an authorization. investments serve the capital $XX.X coming October, to the making existing both approach we we will Thanks. better the excess market, also average weather, market million same result as about not our To to our close, on solid but the over progress our improve now leaves obscured In $XX.XX. customer will targeted capabilities deployed school our individual make somewhat continue educator believe in call to price I allow this experience, of and although the improve will customers. And growth repurchase years. start XXX,XXX $X dislocation at Q&A. education We district time, shares us the to to objectives.
