Mr. Dwelle: Generally, we viewed earnings as pretty good. For the most part, underwriting margins have held up. There were a few companies that hit a few bumps here or there with prior year charges for hurricane losses or tornados during the first half of the year. But for the most part, core underwriting results were really very good.
TWST: Mike, do you see things the same way?
Mr. Paisan: I would pretty much echo what Mark said. By and large, I
would say that most of these companies either hit our number or exceeded
our number, with maybe some modest pressure for some of the companies
from some tornados in the quarter. But, yes, I would say that, by and
large, it was a very good quarter from a pure underwriting margin
perspective. Augmenting the solid underwriting margins was strong
investment income growth on the heels of many rate hikes.
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