Core Insights - The company reported a net loss ratio of 70.2%, which is a decrease of 21.5 points compared to the prior year quarter, attributed to the absence of hurricane activity in the current quarter [1] - Adjusted diluted earnings per common share increased to $1.36 from a loss of $0.73 in the prior year quarter, driven by a lower net loss ratio and higher net premiums earned [3] - The net combined ratio improved to 96.4%, down 20.5 points from the prior year quarter, reflecting a lower net loss ratio despite a higher net expense ratio [2] Financial Performance - Direct premiums earned reached $534.1 million, marking a 5.2% increase from the prior year quarter, while net premiums earned were $359.7 million, up 4% [2] - Core revenue was reported at $400 million, up 4.9% year over year, primarily due to higher net premiums earned and net investment income [3] - The company repurchased approximately 347,000 shares at a cost of $8.1 million, with $7.1 million remaining in the current share repurchase authorization program [1] Market Position and Strategy - The company is optimistic about its position in the revamped Florida market, citing a strong reserve position and a reduced claims count [4][7] - The competitive environment in Florida is described as highly competitive, with many new players entering the market, but the company remains focused on rate adequacy and service quality [10][11] - The company plans to maintain a conservative approach to capital management while considering share repurchases as part of its strategy [12]