Second Quarter Highlights
Improving Quarterly Gross Loss Ratio
- 78% Gross Loss Ratio
- Substantial YoY improvement
- Improving guidance to below 90% for the full year 2022
Continued Strong TGP Growth
- 29% YoY growth in Q2 '22
- Reducing full year guidance to $790-810 million, still up over 30% from 2021
- Entered New York, Massachusetts, and North Carolina
Premium Retention Stable
- 87% premium retention
- Rate increases averaging in high teens
Strong Financial Position
- $732M cash and investments at June 30, 2022
- Spinnaker A- Rating (AM Best)