Mixed segment results
The company’s Property & Casualty (P&C) segments generated core income of $456 million for the quarter, an increase of $110 million year-over-year. The improvement was attributed to lower catastrophe losses, stronger underwriting results and higher net investment income. Excluding third-party captives, P&C gross written premiums grew by 2%, while net written premiums rose 3%, reflecting a 4% renewal premium increase.