Net income rose to $1.71 billion for the first quarter of 2026, compared to $395 million in the same period of 2025. Diluted earnings per share increased to $7.78 from $1.70 in the prior year quarter. Catastrophe losses were $761 million in Q1 2026, significantly lower than the $2.27 billion reported in Q1 2025. Net favorable prior year reserve development was $413 million, compared to $378 million in Q1 2025. The combined ratio improved to 88.6% from 102.5% in the prior year period. The company completed the divestiture of its Canadian personal and commercial insurance business on January 2, 2026, for approximately $2.4 billion.