Book value per share excluding AOCI was $45.86 from $46.39 at previous quarter end. “We produced outstanding results in the quarter with an $18M increase in core income to $326M, leading to record core income in the first half of 2024. Net investment income was up 7% as yields in our fixed income portfolio increased again this quarter and our alternatives portfolio generated strong returns. Despite the elevated industry catastrophe losses, the all-in combined ratio for overall P&C was 94.8%, inclusive of pretax catastrophe losses of $82M or 3.5 points which was consistent with our recent five year average…We continue to effectively navigate the individual cycle dynamics in the different areas of our business, growing where we see the best profitable opportunities. With strong execution and a continued favorable fixed income investment environment, we remain optimistic about the latter half of the year,” said CEO Dino Robusto.
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