Strong Financial Performance
Net income per diluted share increased by 8.7% to $1 per share, and operating earnings reached $420 million, yielding an annualized return on equity of 20%.
Record Premiums and Investment Income
Net premiums written increased to a record $3.4 billion with growth across all lines of business, and record net investment income of $379 million was reported with a 16.5% improvement in income from fixed maturity securities.
Growth in Stockholders' Equity
Stockholders' equity increased by more than $380 million or 4.3% over the first quarter of 2025 to a record $9.3 billion.
Resilient Underwriting Performance
The calendar year combined ratio was 91.6%, resulting in $261 million of underwriting income, with cat losses remaining relatively flat despite an increase in the dollar amount.