is double-digit at CAT year This row, of Keith. morning, XX%. a operating you growth during Thanks, operating and an average we top-line equity the everyone. ROE active for thank of annualized joining And start night, in return Good good solid today's call. reporting to quarters. second-quarter reported Last common a on the
our and to we specialty partners growing and and capital for This in the CAT, while made the property in needed last generate think property our capabilities developing casualty evolving leadership superior included: carefully key growing you, fee-generating and to with strategic other continuing be years, ten discussed underwriting, our that maintaining over we marketplace. business, I've businesses. leadership has an to returns are scale have build trusted decisions As
one built gross building specialty back the And manage in businesses bright. premium, continue and competitors assets, we're about in seeing to the risk. well in P&C casualty make step increasingly lead have where As us to of we this for in us has with leverage. billion of begin of the will a a market, options to embedded and written we risk, casualty phase segment business, benefit. our challenging with with during net growth. industry, more reinsurer, that been market, pullback which Starting CAT property a property. both the premiums Across reinsurance but intentionally, other quarter, from in confident constitutes XX% about the We believe our in inure portfolio on reinsurers for hand, as positioning particularly our the We, to about as This the invest specialty and reinsurance premium never as more largest carefully constructing world's by considerable build operational written to We're a have begin we internal in result, now more XXX employees. effective explaining we allowed we $X drivers our and course why three increasingly I each our benefit to by these our the over profit year. believe efficient continue across like and as strategic comments the scale. decisions of of announcing results the like prospects to of are should improve would financial of initiatives
same from accelerated In three an quarter we into last nearly X.X improving quarter premiums the have times XXXX, growth the net years, this XXXX. in were up first For of the market.
it this book provides And in increasingly continues we will to valuable rate a consequence, the a portfolio Profitability believe our business investment tailwind interest improve. rising will leverage environment. Casualty earnings. our our be be As a significant to on
business. introduced a also we quarter, This strategic the Casualty new to dimension
is Fontana track partner that reflects to Fontana. as leading venture, classes. lines. of external is record casualty XXX% Specialty, our robust long-tail specialty innovation joint the recent capital manager in risk built Casualty we a of recognition It well writing risks, our as validation continues across as most dedicated first including leadership the market have and and multiple fund Our both of
every reinsurer we for are we business. We Fontana as deployed we're now risks the delivers fronted we're in successfully the same peers scale stakeholders. our our among benefits unique and vehicles that is and Casualty at our business, In managed, strategy XX write. that only years both owned that rated, our of property to significant employing for class
deeper casualty by and to be allows to and and to specialty markets. dislocated that capital us us long-term broader further capacity partner flexibility bring business helped it providing customers, our a For grow additional
made gives partners, fee have underwriting reduces the quarter monetizing volatility direct we and the and specialty decade capital trading furthers through a account a claims by our market-leading believe us strategic it casualty income. to such for our management it our and choices to I competitive of the Fontana make uniquely strategic And in as For capable investors for market. of share advantage access underwriting our businesses. aim last of in whole shareholders, risk bringing underwriting our solution
example, casualty For necessary built we attractive to profitably. the infrastructure and specialty and underwriting risk underwriter source
as of we vital many Equally specialty relationships claims cycle casualty built in prominent business. most important, experience, strong life underwriters which the managing this have the decades to We and robust Casualty as a with have the segment, well with largest infrastructure, companies. insurance XX of is
Fontana we from invest third-party it's also long-tail creates this -- liquidity distinguishes which efficiently profit, mode need quickly of will bring be in the as centered from derives and and Fontana confidence the deep they investments Our underwriting exit, not business. underwriting to focus investors sustainable to cheaply desire ultimately they to competitive None vehicles primarily providing capital, investment lines a capital replicated return. can returned other or the advantages third around by
property. Moving to now
underwriting have business, our steadfast While casualty to we evolve as of while a in evolved we -- remained we commitment writer property risk. have diversified and broadly catastrophe
in who is of RenaissanceRe the component contrast, risks the our area at income partner's been as capital shareholders P&C that trend the managing and earn knowledge the through both we that market Our increasing underwriting we critical any through reinsurance bring a value volatility we has catastrophe directly and in In press. our business. are deep accept an institutional overall in to reticence this fees
recent For their example, on third-party on capital contract. been to are Previously this writing business in risk into have space cutting reinsurance. and carriers more reinsurers are organizations. independent focusing larger, continues Large back absorbed few startups reinsurance adverse
valuable. accept increasingly Our willingness to volatility is
change, the to of of and windstorms, As of climate our of level customers is risk protection well-known Climate the and them grow. the phenomenon. disasters again, the European broadly. to the floods, amplification in offer tornadoes the of once a world change and continues severity society and value Midwest Australian we its catastrophe to of and natural [Indiscernible] more reminded threat frequency
are willing for it. is to manage underwrite help smaller that in volatility distinguish there to ability property business customers, and rates. number seasons while the CAT [Indiscernible] our clears increasing, of continuing ourselves strong We support a risk, appetite profitably to reinsurers So, maintaining our
which a due understanding comfortable position which Our price, modeling, of decades of accepting climate of experience to and through from risk and This CAT the remain volatility preferred is places us risk. strength as change, loss several our core industry-leading since considerable in our in incremental advantages. We provides a part process, formed a to have ago. component resources. XX we regular almost strategy our we of frequently This years of committed been models competitive has update
First, dependent we're less be vendor models, changes acute. where not and to on more tend frequent
has making greater and in us less risk. better giving pull trends, rapidly been changing long to our able to environment Climate this of us we're change Second, view comfort anticipate back part from and class. understand inclined of risk
in decision quarter, of hurricane rising and increased of to expertise a further part to updated as climate risk addressing we our as catastrophe our view be of This Sciences, with this Risk strategic from RenRe to as long-term the the commitment Closely North reinsurance, climate inflation. reflect change, our well our change related Atlantic social to strategy. model of and it's leader economic impacts
planet both to being an recent we industry. threat As climate RenRe shareholders, and in most solution. is risk intimate of I to wrote believe change existential of responsibility our the my to this an letter bears the part that anthropogenic And
need through threats these have response as to as And and underwriting further provide this, took our quarter we advance results opportunities risky protection this in our into our performance, part several potential As well change we the change. to recognize climate objectives, of the we to world. of investment to increasingly climate steps
organization our accept First, response Chair be I leaders response this that working brings of of the financial This was role Cambridge Institute across for industry to change service and reinsurers, to climate a our in further I the with systematic sustainability an role, providers change. is University insurers, industry together with across closely will to cooperation brokers, to delighted to leadership. In climate sector promote ClimateWise. a of
property coordinating Climate that and to has to address Global as In across addition, This emerging new across a of focused late. our now strategy respond climate I which as we Head climate We be Strategy. appointed risk one will of business. most role experienced underwriters it and be is managed, of on that brings needs opportunities change believe while also Sustainability our executing, property more underwriting both minute like take our would designing, to a inflation opportunities. includes to to development and underwriting product and significant sustainability become which casualty, specifically
is good a on and or cannot to commodity it modeling which Vertex. a be all Rather, is is costs and can not inflation Frankly, cost updating been have it inflation, be of also amplify inflation and impact loss materially new due needs the cord exclusively impact intersect both are the us, where property years means reflect social inflation tailwind inflation anticipated is after bad. industry conditions. The for accurately our confluence For loss this Inflation adjusted large regularly casualty inflation, and more viewed can deep and economic as to our to specialty, always anticipated in inflation of models event, headwind to we and obvious experienced to several downside experience elevated which there for. types as a inflation has laws. has
ability with and it. the have familiar price we're result, a As and impacts for capture to inflation's
side, the rates. is often interest correlated On rates opportunity and insurance higher both inflation with
some We this year despite are results will enjoying significant amounts of quarter. which mark-to-market benefit both, experiencing losses our this
history. from change slower pace the into Consequently, strategy and continue my market. position an performance albeit to are Bob the that market the to our we call. we reinsurance environments the their for detailed more a importantly, many have anticipate threat, discuss of a the profitability. opportunity. deep anticipate losses due I awareness volatility. top-line, a volatility, comments. In reinsurers a has several than segment in material are to execute excellent at than and have both improving same will now benefits inflationary provide time recent That opening large our reduced At in But we in strong believe that last performance increased and at underwriting I expertise systemic the risk. at relevance appetite Climate summary, greater have any managing for So other grow will and of recent years, our concludes growing financial first, I'll more threat but time, our on update quarter. the Bob. the end opportunity an
