Record-Breaking Gross Written Premiums Growth
Gross written premiums grew 30% year-over-year, with property lines accelerating and submission growth at 70%.
Improved Combined Ratio
Combined ratio improved to 88.7% from 95.3% last year, driven by a 2.1-point decline in loss ratio to 60% and a 4.5-point decline in expense ratio to 28.7%.
Strong Financial Performance
Adjusted net income rose 78% year-over-year to $22.8 million, with net investment income increasing to $11 million from $6.8 million.
Successful Growth Initiatives
Retail trade vertical, professional liability lines, and Project Heartland in the Midwest contributed significantly, accounting for about half of the company's growth.
Technology and Innovation
Launch of digital brokerage channel and specialty offerings for real estate vertical, improving policy acquisition economics and maintaining competitive positioning.