Rich. thanks, call. and conference thanks our XXXX Good joining and Great, quarter second morning, everyone, for
have to sure taking those driver most be and of I the recent returned back following in It’s our CEO, prior actions to seat put so disappointment in to that overdue. and we I’m of metrics started top-tier am challenge that Kingstone plans delivered place the your aware, return are my years. our share Kingstone’s last were many departure as CEO results. I with month. excited you I to begun As to
it small required profitability. best heightened and to over challenging It an assess which whether period, to that period internal shareholder too absorbing risks business long the too extended capital. use would would a decided much. long months to I is losses and we’d length new of risk cost be the take not would effort return in was lines commercial Our how very business used and take these writing about moratorium on competitive and two
My other began action expect all physical fourth books next was commercial lines our We first exit process be policies all immediately in-force the and the off the non-renewing auto from of our quarter program. than the before year. of to to announce damage book
personal offset more growth than lines were foregone premiums. in the continued Our
clear claims create reserves that long-tailed from became that plan. it an Recently, action the lines volatile commercial require
are working We to see reinsurance can or effective contain eliminate use we now the the volatility to entirely. a on if uncertainty basis, cost
us the report decision We forward. that put in are going already once comfortable reserve reinsurance. good back the to as made I’ll actions position taken a is
homeowners in And in distributed Now is is personal diversification lines, XXXX almost footprint, six being place. core product in currently states. began our for our fully regional April which
$XX the only have quarter, which We State. XX% of million reached quarter. state In or complete direct second million, to written fourth total premium remaining, we outside $X.X hope which from came one York risks rollout New during our the of
quarter, As last is our Cosi also mentioned Agency expanding. business
carriers. new business. recall agency Cosi core And of may relationships three XX are these our nation’s the manage up outside of now and of digital to has set part along You national material with developed distribution a agency independent business. was channel becoming other partnerships with a our appointments top Cosi that
written added to X.X% relationships expanded take book-to-bill just these New time as for written the at some premium than the for earned, Cosi total. of premiums will it million time under While during quarter, $X the the be second in to York,
quarter, written of total. the representation of over power A the new the that X% second contributed that Cosi in better is Cosi of of business
I’ll as update we of progress. soon expect you be to will the outside So quarter will each York. continue to expand its Cosi grow to and New sure
that we’ve also requires we’ve outside us underwriting of in But move profitability on our to Yes, that losses a weather focus. is But experienced quickly actions. profitability our control. and are deterioration pricing, major expense seen
earnest increase is which steady in financials many are we maintaining take as one-year of moving our New rate years on premium This book of must in manifest timing approved in on it a rates. rates earned depends then time be process out over increases, our and to York, rolled to period. itself renewal After that will to a
total are business our will is too the premiums, out written, represents that base premium the rate a of underwriting taking increase from since over is We expect business needed. actions three risks to renewal But this marginal call help. new quarters and our it
hope to continue With the see will expansion to almost down decline that next our and to ratio expense XX% to XX% implemented, fully reduction that we expect year.
to it Ben EVP Chief over Ben? Now, I’ll and Walden. Actuary, turn our