Improved Accident Year Combined Ratio
The accident year combined ratio improved to 90.4%, generating an underwriting profit of $10.2 million, a significant increase from 93.5% last year.
Investment Income Growth
Net investment income was $17.9 million, marking a 9% increase from the prior year period.
Gross Premium Growth
Excluding terminated products, gross premium grew 13% over the third quarter of 2024, with overall consolidated gross written premiums increasing 9%.
Operational and Strategic Advancements
Project Kaleidoscope is on track, focusing on technology and data infrastructure improvements. The company also completed the acquisition of Sayata, enhancing distribution capabilities.
Book Value Increase
Book value per share increased from $48.35 to $48.88, with a return to shareholders of 1.8% for the third quarter.