We continue to focus on frequency oriented business. Our existing underwriting portfolio reflects this with a split of gross premium written of 96% in frequency business and 4% in severity business. We recently wrote two new significant nonstandard automobile contracts with private passenger automobile writers in the United States. The typical nonstandard automobile policyholder purchases very low limits of liability in order to meet state financial responsibility requirements and typically does not purchase physical damage protections for their own vehicle. These opportunities put our underwriter model of supporting these specialists who are experts in their field and finding areas of the market that are experiencing some dislocation.One of the contracts is for a Florida provider. The Florida private passenger automobile market has suffered losses in the recent past and as a result significant price increases are now being implemented. We believe this new partner is well positioned to take advantage of these market dislocations. Our other new partner is a regional writer with the concentration in Louisiana and several other states.
Greenlight Capital Re's CEO Discusses Q3 2011 Results - Earnings Call Transcript
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