Greg Peters: Good morning, everyone. Chris, Beth and team, maybe we can go back to the success you’ve been able to register in your commercial business from a new business production perspective. And I was struck by your comments around small business spectrums growth. I think you called out E&S binding as another area of strong growth. And I’m curious about the effect of large numbers where incremental growth becomes more challenging. So how do you think about market conditions as you look not today and what you’ve just reported, but you look going out into 2024? Do you feel like the customer strength is substantial enough that you can continue to put up these type of numbers? Or is there the potential that they could slow down if the economy sort of adds?
Chris Swift: Yes. No, I would say, and I’m going to ask Mo and Stephanie just to talk about what they feel in the market, market conditions and their ability to execute. But clearly, I believe through the end of this year and into 2024, I think will be a market environment that is still robust from a rate in terms and conditions perspective. I think particularly in the property area, broadly defined commercial property, homeowners property. And then if you look at some of the casualty lines, particularly commercial auto and some of the longer tailed liability lines, I think it’ll be a conducive environment to grow and maintain or slightly expand margins going forward. So I’m pretty bullish on the next 18 months, but Stephanie first and then Mo, what would you say?
Stephanie Bush: Sure. And small commercial from a macro-economic perspective, we continue to see signs of a healthy economy, unemployment’s low, new business starts and the small commercial space continue to be strong and still better than pre-pandemic levels. We still see strength in overall exposures. So we do not see any meaningful change more of the same. We’re really pleased with the quality of our submissions and our submission flow. So I feel very positive in the quarter. We grew policies in force in every single line. And as I’ve mentioned in the past, our agents, our distribution really respond to our overall business model. And then finally, I would add in the E&S small commercial binding space, very, very pleased with our results.
We continue to see this to be a growing and profitable part of our business. And we apply the same rigor and analytics to that book that we do to our admitted line, and we’re really writing the business on our terms and price. So I’m very pleased with our execution and our position in the market.
Chris Swift: Mo?
Mo Tooker: Greg, maybe I’ll take the two pieces. So for middle and large commercial, I think submission activities up, so we feel good about that and then that continuing throughout the course of the year. And then what’s exciting, I think is a lot of the capabilities we’ve been putting into market over the past couple years are, we’re feeling good about our ability to grow scale there. And Chris highlighted three in his script, talked about construction, energy, entertainment. So these are the verticals in middle and large commercial that we think on the back of that submission activity, we hope that the growth can continue through year end. And then similarly for global specialty, the growth is broad based and that gives me great confidence for our ability to maintain it.
Chris Swift: And Greg last point, I do think the E&S market will continue to be a market that’s attractive from a risk return perspective and ultimately a pricing side. So, again, I see the E&S market remaining healthy over the next 18 months.
