Global Lifestyle net earned premiums, fees, and other income increased by 4% driven by Connected Living. This growth is attributed to mobile growth and contributions from newly launched trade-in programs and global device protection programs, highlighting the success of strategic initiatives.

Global Housing net earned premiums, fees and other income increased by 18%, driven by Homeowners. This increase is mainly due to top-line growth, including higher policies in-force from new lender-placed programs and portfolios, indicating successful expansion in this segment.

The company finalized its plan to realize greater efficiencies by continuing to simplify its business portfolio and leverage its global footprint to reduce costs. This included realigning its organizational structure and talent to support its business strategy, indicating a focus on operational efficiency and cost management.

Excluding reportable catastrophes, Adjusted EBITDA increased by 23%, primarily from continued top-line growth within Homeowners and ongoing expense leverage from scale and operational efficiencies. This demonstrates effective management in controlling costs and improving profitability.

During Six Months 2024, the company made common stock repurchases and paid common stock dividends of $157.3 million, reflecting a commitment to returning value to shareholders. The Board's discretion over future dividends ensures adaptability to changing conditions.

As of June 30, 2024, the company had approximately $734.7 million in holding company liquidity, which was $509.7 million above its targeted minimum level of $225.0 million. This indicates a strong financial position and the ability to meet unforeseen capital needs.

Global Lifestyle Adjusted EBITDA decreased primarily due to ongoing elevated claims costs in Global Automotive from higher labor and parts costs due to inflation. This highlights the impact of macroeconomic factors on segment profitability.

The Company is involved in a variety of litigation and legal and regulatory proceedings, and although the Company has established an accrued liability, the possible loss or range of loss in excess of the amounts accrued is inherently unpredictable and uncertain.

Global Housing Adjusted EBITDA included $32.1 million of higher pre-tax reportable catastrophes. This highlights the vulnerability of the segment to unpredictable and potentially severe events.

The mobile business is subject to volatility in mobile device trade-in volumes and margins based on the actual and anticipated timing of the release of new devices, carrier promotional programs and sales prices for used devices, as well as to changes in consumer preferences, indicating a dynamic and competitive market.

Across many of the Company's businesses, they must respond to competitive pressures, including the threat of disruption and competition for talent, which has increased due to labor shortages and wage inflation.

Our results may be impacted by our ability to continue to grow in the markets in which we operate, which will be impacted by our ability to provide a superior digital-first customer experience, including from our investments in technology and digital initiatives.

In December 2022, the Company finalized its plan to realize greater efficiencies by continuing to simplify its business portfolio and leverage its global footprint to reduce costs. This includes realigning its organizational structure and talent to support its business strategy.

Global Housing Adjusted EBITDA increased due to ongoing expense leverage from scale and operational efficiencies. This indicates successful cost control measures.

We consolidated our main reinsurance purchases into a single placement date of April 2024, reflecting impacts from changing the timing of program placement in this initial year of transition to a single placement date, as well as favorable underlying rates from improved reinsurance market conditions.

Our results may be impacted by our ability to continue to grow in the markets in which we operate, which will be impacted by our ability to provide a superior digital-first customer experience, including from our investments in technology and digital initiatives.

As previously disclosed, we are in the process of a multi-year implementation of the integrated global financial systems and infrastructure (“GFS”). The first phase of this implementation became operational during the quarterly period ended June 30, 2024.

For extended service contracts and mobile, improvements in data quality for certain clients allowed for reserve releases and contributed to the favorable development.

We conduct periodic asset liability studies to measure the duration of our insurance liabilities, to develop optimal asset portfolio maturity structures for our significant lines of business and ultimately to assess that cash flows are sufficient to meet the timing of cash needs.

Generally, our subsidiaries' premiums, fees and investment income, along with planned asset sales and maturities, provide sufficient cash to pay claims and expenses. However, there may be instances when unexpected cash needs arise in excess of what is available from usual operating sources.

We use these cash inflows primarily to pay holding company operating expenses, to make interest payments on indebtedness, to make dividend payments to our common stockholders, to repurchase our common stock and to fund investments and acquisitions.

The costs of complying with, or the failure to comply with, extensive laws and regulations to which we are subject, including those related to privacy, data security, data protection and tax, are noted as a risk factor, highlighting the importance of ethical and compliant operations.

The failure to execute our strategy, including through the continuing service of key executives, senior leaders, highly-skilled personnel and a high-performing workforce, is identified as a risk factor, underscoring the importance of human capital management.

The company emphasizes the importance of a high-performing and skilled workforce, which includes diversity and inclusion initiatives. This is reflected in their commitment to attracting and retaining top talent from diverse backgrounds.

The impact of general economic, financial market and political conditions (including the Israel-Hamas war) and conditions in the markets in which we operate, including the current inflationary environment, are identified as risk factors.

Fluctuations in exchange rates, including in the current environment, are identified as a risk factor, indicating potential volatility in international operations.

Our Homeowners revenues is impacted by changes in the housing market. This highlights the dependence of this segment on external macroeconomic factors.