Financial Performance - The company reported net income of 4.2million,or0.13 per diluted Class A share, compared to 2.0million,or0.06 per diluted Class A share in the same quarter of the previous year, reflecting a 108% increase [15][63] - Net premiums earned increased by 8.3% to 234.3millionforthesecondquarterof2024,whilenetpremiumswrittenroseby9.1247.2 million [15][48] - The combined ratio improved to 103.0% from 104.7% year-over-year, indicating better underwriting performance [15][21] Investment Operations - Net investment gains for the second quarter of 2024 were 0.7million,primarilyfromunrealizedgainsinequitysecurities,comparedto2.5 million in the same quarter of 2023 [4][33] - Net investment income increased by 9.0% to 11.1million,attributedtoariseinaverageinvestmentyield[33][54]UnderwritingPerformance−Thelossratioforthesecondquarterof2024increasedto70.624.7 million, contributing 10.6 percentage points to the loss ratio, compared to 19.7millionand9.1percentagepointsinthepreviousyear[50]DividendInformation−Thecompanydeclaredaregularquarterlycashdividendof0.1725 per share for Class A common stock and $0.155 per share for Class B common stock, payable on August 15, 2024 [8] Strategic Initiatives - The company is focusing on enhancing small commercial underwriting capabilities and managing geographic risk concentrations to mitigate weather-related loss impacts [46][25]
