thank you and joining afternoon, today. Good us Karen. everyone, Thanks, for
we've underscore experienced. disrupted I what this. Recent personal in, competitors' operate lines is believe, to reports continues the industry earnings most ever environment The
and of environment. half in to results of difficult continue this succeed actions through our take taken we've the short While our we positioned had to believe financial us the targets, fell XXXX first
by patterns historical bit Traditional this talking Before moment operating to behavior I their a a historical future in aspects behavior. want consumer norms. behavior are predict the producing - are seen predict industry industry they variance our is This of take to used me, explain to about future results, the used about broad outside and patterns by environment. to excuse
examples triggers, driving in few patterns, and competitors' include vehicles to litigate. medical changes repair elasticity claims, are price in their seek exacerbated broad and A subsequent buying willingness treatments changes by These action. file propensities and pattern swings to
We time. an believe that a next this has environment years. of created couple market will Correspondingly, extended the hard period least for persist likely for it continue at of will
market specialty navigate position our continuing our efficient and capabilities. evolve and We're model nimble Our expertise operating us this effectively to to environment.
broad execute and the This business enhancements on speed intelligence includes and that investing insights. and in we accelerating digest
operate business. We used have predictive increase analytics we the and to forward-looking our to continue
our increased we've time, same margin the At of execution safety.
achieve is results. at our our backdrop, to priority and position returns this. And safely are right facilitate this focus and target ourselves, ultimate continuing business let's to grow Our profitably we to to Against discuss to ourselves time. the and ultimately,
Turning you'll following. presentation, to hope away I the take our
the in of underlying profitability improvement our First, sequential of we had strong each businesses.
on last stakeholders. our strategic the value meaningful track November, initiatives we produce their for are announced and benefits realize Second, anticipated to
guidance. Third, our we reiterate
XXXX, to or achieve second of equal than equity in to a underwriting half XXXX. to for expect an profit generate We on the And expect return greater we XX%.
normalizing This of we of the and Specialty anticipated the are prior result was trend improvement our strong second adverse taking The experienced of as earned half in losses included underlying results elevated the and year improvement to consolidated sequential the X, Page backdrop that of impacts accelerating six-point development, loss P&C quarter. demonstrates the items hold and last rate benefits. as well non-rate actions of producing actions improvement exceeding episodic largely related catastrophe profitability the XXXX. against to Moving the
final Department between approximately California collaborative our of outcome. change by August Insurance XX One like and the the of Specialty the for points highlight our out I'd rate teams enabled rate approval The auto point of effort book. recent successful CDI Xth. to our was P&C The is financial effective private passenger
I'd like to now strategic move to our projects.
unlock As last time exceed completed reminder, series track of initiatives November, operational announced a their a we produce these benefits. on to and shareholder be or targets programs value. All financial to on additional are and
of that formation and P&C announced completed segment on exit review action our Bermuda support our core updates we from and of Phase our received profitable Insurance strategic growth projections. will effort return on our these Key We to our Department This the reciprocal, capital decision optimization is of approval X the initiatives business. of businesses. initial the Preferred benefit in include Illinois our for enhance outperforming
And are with achieving expense savings finally, expected cost structure we initiatives. the our
is generating are begins proof and we've are enhance this are actions achieved that profile. and the solid the on to to We highly The taken focused returning our outcomes. the All shareholder while, with we strategic progress we Kemper value maximizing financial advancing the quarter initiatives profitability. this intended long-term business
about turn now over details. call to I'll the more Jim to talk
