Gross written premiums increased to $4.425 billion, up from $4.391 billion in the same period last year. This increase is driven by growth in both the reinsurance and insurance segments, indicating successful market penetration and product offerings.

The company completed a public offering of 4,140,000 common shares, generating net proceeds of $1.445 billion. This capital raise provides financial flexibility to pursue long-term reinsurance opportunities and further build out the global insurance business.

Corporate expenses increased to $25 million, up from $19 million in the same period last year. This increase is primarily due to information management-related costs, including acceleration of cybersecurity, corporate applications, and infrastructure investments.

The company repurchased 536,469 shares at a cost of $200 million, demonstrating management's confidence in the company's value and commitment to returning capital to shareholders.

The 10-Q states that there have been no material changes to the risk factors disclosed in the annual report on Form 10-K for the year ended December 31, 2023. This suggests a stable risk environment, but investors should still review the annual report for a comprehensive understanding of the company's risks.

The combined ratio and net income were negatively impacted by catastrophe losses, indicating vulnerability to significant events. Hurricane Helene, Beryl, and Debby contributed to catastrophe losses of $310 million.

The reinsurance segment saw a $67 million increase in gross written premiums, partially offsetting a decrease in the insurance segment. This suggests a strong competitive position in the reinsurance market.

Other underwriting expenses increased in both reinsurance and insurance segments, indicating potential inefficiencies in operations. This increase puts pressure on the combined ratio and overall profitability.

The company repurchased shares at a cost of $200 million, indicating a strategic use of capital to enhance shareholder value. This also signals management's confidence in the company's future performance.

The Bermuda Corporate Income Tax Act of 2023 will be applicable to Bermuda businesses that are part of multinational enterprise groups with annual revenue of €750 million or more beginning in 2025. The Company has evaluated The 2023 Act and has recorded $578 million of net deferred income tax benefits as of December 31, 2023.

In October 2024, Hurricane Milton impacted Florida. The Company is estimating pre-tax net catastrophe losses to be in the range of $300 to $400 million for the fourth quarter, net of any estimated recoveries or reinstatement premiums.