Improved Combined Ratio and Underwriting Profit
The accident year combined ratio improved to 94.6%, producing an underwriting profit of $5.6 million, up from 96.7% last year.
Significant Growth in Gross Premiums
Excluding terminated contracts, gross premium grew 18% over the second quarter of 2024. Specific areas of growth include Vacant Express, collectibles, wholesale, commercial, and assumed reinsurance.
Technology Infrastructure Revamp
Progress in technology advancements with the Kaleidoscope policy system set to begin testing by year-end and completion of data migration to a modern data lake.
Stable Investment Income
The short duration investment portfolio delivered stable results at $14.7 million, with an annualized investment return of 4.9%.
Approval for $100 Million Dividends
Received approval for $100 million in aggregate dividends from insurance subsidiaries to bolster liquidity and fund growth.