good And Karin. morning, Thanks, everyone.
we quarter worked. Our and results have first plans the place the in the show have have in turnaround made we put investments that
was an incredible in the as growth consecutive for double-digit improved net quarter core generated the to quarter. business, and achieved underwriting our we our second year income results start markedly This
accomplished and future. are proud what more of We optimistic about extremely the even we've
Bridgewater. my Kingstone I've as done foundation for experiences, the is and realize that and that the to of strategies tenure from come been that about the underlying thinking reposition everything I've about strategic the my have at most on previous What principles modernize X.X was executed to those talked we X.X upon. I learned notably Progressive based playbook Kingstone the and that we company. we've initiatives Previously,
in and taking the of X of It's our the action context will and to risk, them lastly, insurance growth, and importance trends grow The of easy having the transparency. prioritizing proactively going power turnaround and to properly specifically, rate prompt to the segmentation matching those discuss Today, low to over them. profit imperative highlight rate address I'm of identifying expenses; of in business. principles
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in in costs. Another material year, business the example, projected our reinsurance last significantly of our we increase slowed a new face
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a put plan place cost every renewal. We on in policy raise and to update quickly premiums to acted our replacement
the shut competitors addressing benefits or take enable of producers, our of are of our still to have of their faster which One ability while profitability is needs us that conditions, some early business successfully returned gives an will the advantage have we completely. to of the restricting growth. being This mover down market
some anticipate continue our the You to continuing and quarter, for will time. that see second accelerate in growth we
challenges, early is an mover While emerge you when can the other validated side. being decision successfully the pose on
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rating maintaining cannot and by are We emphasized Select rate product profitability enough. be our The growth will in enhancing segmentation, of which further our the further increase low new adding expenses variables expect we future. and significance
about expenses in have changed ways, reduce various many We in reduction talked actions and repeatedly the taken fundamentally company to reflected I've our so the expenses. substantial of it's the
average from ultimately margins allowing have as are our advantage a benefited Having us We us competitive doing. implemented. we expenses and also premium the expand faster in we grow sustainable to significant low to now that gives increase
And I want and investors. transparency. regulators, owners like act trust the to policyholders, finally, employees to believe power reinsurers and of in I our with build
ideas cultivate of environment implementing to We openness. are proactively listening an closely and
believe company supports raises We on enhances into and our and transparency our confidence are bar strategies confident operations our performance. the our in
identify the Even note Kingstone's sure that this mistakes the of problems. a quickly the and of to are more largely want that new playbook. product address performance we that, turnaround in now potential not quarter. about a make is things the repeated place to in have important With culture I built executing and is a few the blueprint to past
were router, quarter a factor and to certainly Northeast this winter typically first to mild was loss experienced We weather. a was our due an underwriting ratio loss contributing that we fortunate the winter that improvement. As in
the rate York and non-core business, Mix from other frequency. in Our Select expenses, increases reserve among and possible favorable our made book lower our changes number in this New quarter. large lower prior profitability we factors. growth year development the reduction last of was took to in of from from in large continuing Favorable a loss losses rate earn seasonably year, the
business XXXX, our half, than update XX% non-core including runoff This quick In was the the we years. profitable by quarter. last have non-core of reduction that more on most strategic a first business. X Also, our reduced in quarter in a experienced we
not our to get entirely. goal is off to impact the eliminate earnings, has the non-core Our the book business negative consolidated on
For XXXX, the share per our earnings business non-core by reduced $X.XX.
current 'XX minimis is estimate earnings year will $X.XX, the be by de XXXX. and reduce in business per share non-core the our that should Our impact full
release, yesterday's our we in outperformance to announced XXXX guidance quarter. As raised first incorporate the the in
range we to For growth achieve expect we $XXX our in sorry, XX% to of direct core now a business business the of earned, net approximately XX%. GAAP combined dependent, $X.XX between XX% written direct as business, million and assumes on share full equity year, between changes And -- we expect written catastrophe assumed XX%. are premium and our based the very achieve a in on major in to and premium return reminder, our ratio between premium core of And our XX results no events and have XX, guidance earnings per this material and weather guidance. of our $X.XX no
have for X We premium the also year's that catastrophe assumed at be our will reinsurance January rates last level renewal. cost with
for of results. with our may Bermuda, Jen? turn Jen detailed I rates. reinsurers following to achieve I'll our call we recent even in However, that optimistic the quarterly am more over visit favorable financial review With a more that,
