Year-to-date, our expense ratio of 32.4% reflects lower than expected travel and entertainment, overhead, and general and administrative expenses. We expect some of these expenses to start reverting to more normal levels in the second half of the year, putting some upward pressure on the expense ratio.

Jul 29, 2021 / CFO / receipt, needs a key / Mark Wilcox, CFO | earnings call 2021-07-29 | transcript 6da98f32-5116-4e07-8834-1a143b0694d1 | chars 10721-11024 | segment 10

The primary drivers of the underlying expense ratio improvement were ongoing expense management initiatives and reduced travel and entertainment, as well as lower overhead general and administrative expenses.

Apr 29, 2021 / CFO / receipt, needs a key / Mark Wilcox, CFO | earnings call 2021-04-29 | transcript c1e3f656-6490-4946-9f11-fb26ff74c578 | chars 11323-11531 | segment 11