Total Revenue

Increased from $446.36M to $487.33M (~9% YoY)

Total Revenue grew moderately as the company built on previous period gains in its core insurance operations and diversified revenue sources. Continued strength in earned premiums and fee‐based revenues, similar to earlier quarters, helped drive the increase. " "

Earned Premiums, Net

Increased from $301,416K to $366,657K (~22% YoY)

Earned Premiums, Net rose significantly driven by robust growth in Excess & Surplus and specialty admitted insurance lines, with improved assumed premiums from partnering transactions (such as book-roll transactions). This mirrors earlier quarter trends where similar strategic initiatives boosted premium volumes. " "

Net Investment Income

Increased from $7,061K to $10,726K (~52% YoY)

Net Investment Income surged due to improved yields on the investment portfolio and a recovery from prior unrealized losses, combined with an expanded base of investable assets. These factors, which had already started showing in previous periods, continued to fortify this quarter’s performance. " "

Net Income

Increased from $16,128K to $29,340K (~82% YoY)

Net Income improved dramatically as enhanced insurance operations combined with better investment gains and a favorable tax deconsolidation effect reversed the challenges seen in the prior period (such as unrealized losses and lower shipping revenues). The current period’s performance reflects a substantial recovery and effective strategic execution. " "