With these results driving strong cash flow, I am excited to report that during the second quarter we returned nearly $50 million in capital to stockholders, more than the cumulative amount we have returned since our IPO. Renato will provide you with those details in a few minutes.
Shifting to claims volumes, this quarter is the fourth consecutive quarter of year-over-year aggregate improvement. Total claims grew by 1% despite historically mild and dry weather conditions in many of our regions during the second quarter. This growth compares with 0.4% growth in the first quarter, a 0.1% drop in the fourth quarter fiscal 2011, and a 1.3% drop in the third quarter of fiscal 2011.
Moving to revenue claim growth, this key metric continued to outpace our 4% to 6% historical range, coming in at 6.3% for the quarter and averaging 8.1% over the last four quarters. Because the timing and magnitude of new product rollouts vary, we believe a rolling four-quarter average is the right way to look at growth in revenue per claim. We are encouraged by both the claims volumes and the revenue per claim trends.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV