In November 2023, the company completed its acquisition of Validus Holdings, Ltd, Validus Specialty, LLC, and certain business assets from Talbot Underwriting Limited, integrating their operations into its consolidated statements through the year-end. During this period, gross premiums written decreased by $27.5 million, driven by reductions in other property and increases in catastrophe premiums. However, net premiums written decreased by $15.0 million, offset by adjustments in ceded premiums. The combined ratio improved significantly by 19.5 percentage points, primarily due to lower current accident year net losses.
