Strong Investment Income
Investment income increased 18% year-over-year, contributing to an operating return on equity of 13.2%.
Excess and Surplus Lines Growth
The Excess and Surplus Lines segment grew 14% in the quarter with a combined ratio of 76.2%, driven by average renewal pure price increases of 8.3%.
Record Dividend Increase
A 13% increase in the quarterly dividend was announced, marking the 12th consecutive annual increase.
New Share Repurchase Authorization
A new $200 million share repurchase program was authorized, replacing the previous one.
Geographic Expansion
The company continues to expand its Standard Commercial Lines footprint, adding 14 states since 2017, with 2 more planned for 2026.