We are pleased to provide our quarter-end results as of March 31, 2023. The net book value of our preferred shares has increased by 15.95% during the first quarter of the year. At March 31, 2023 our preferred share net book value was $1,745.51. Through our profits generated our asset base has increased by 1.21%.
Our reinsurance business has been providing stable returns during this environment. We have had outperformance in our surplus equity strategy that has generated strong returns.
I look forward to providing our next quarter financial update.
Erik Fell