This morning's discussion also includes non-GAAP financial measures that we believe, may be meaningful to investors. In our 10-Q supplement and earnings release, non-GAAP financial measures have been reconciled to GAAP where required in accordance with SEC rules. And now I will turn the call to Don Southwell.

Don Southwell

Thank you Diana, as you heard in the introductions I have asked Jim Schulte to join the call to provide details on our property and casualty business. So I will confine my remarks to the following three topics, first our recent decision about the direct business, second our life, health and investment performance and third our progress on capital.

Starting with Kemper Direct, we recently announced that we are reviewing strategic options for the Direct business and that we have seized direct marketing activities. Overtime we had undertaken several significant actions to improve profitability in this segment. We were intentionally shrinking the business until loss ratios and acquisition fundamentals improved but we were not satisfied with the rate of progress.

Given the reality we were not getting an appropriate return on capital we decided it was time to take more significant action. We have stopped direct marketing activities; we are evaluating all of our options for Kemper Direct. Since our announcement we have received a number of inquiries which we are actively exploring.

Turning now to our business performance, overall we are benefiting from the diversity of our portfolio of companies, the life and health business is once again delivered steady top-lines and good profits. This along with our strong portfolio yield has helped us set losses in P&C. In the life and health segment the top-line held steady despite the discontinuation of sales of our dwelling and hospitalization products. We also delivered strong bottom-line performance and have taken price increases on our life insurance to help offset the difficult interest rate environment.

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