Question-and-Answer Session
Thank you. Once again, today's question-and-answer session will be conducted electronically. [Operator Instructions]. We will now take our first question from Keith Walsh of Citi. Your line is open.
Keith Walsh - Citigroup
Hey. Good afternoon everybody and congrats on a really strong quarter in a very tough market. First off, just for Greg on the loss ratio. I hear what you're saying, but you're looking at this two standard deviation move this quarter, probably two consecutive quarters or your lowest loss ratio ever. Is there a fundamental change in the way you are running this business, whether it would improvements in your claim center of pricing that is driving some of this downward trend? And then I got follow-up for Floyd. Thanks.
Greg Ness - President and Chief Operating Officer
Good morning, Keith. This is Greg. Good question. I think one that we're watching very closely as you might suspect. Let me give you a little bit of background on why we saw the results for we did, because it's interesting. First of all, I want to continue to reiterate that we are not seeing any correlation with our claims experience and what's going on in the economy.
As an example, we monitor things like claims that are susceptible to economic pressures such as a middle nervous claim back or muscular claims, all of those are very much within our anticipated ranges. So, we are not seeing anything going on there at all.
In the LTV side, we've got about 66% of our block that's in industries that experience job growth. And that's very different than I take many of our competitors would see. On the life side, we saw significantly lower severity of claims and on a life claim you should assume that means that if you normally paid up $30,000 maybe you pay out $28,000 this time around or so on.
Likewise, on the AD&D side, we also saw the exact same phenomenon there. And summer it's a difficult time for AD&D claims. We did not see increase in AD&D claims in the summer as we often times do. And again saw the severity decrease there as well.
And finally on the LTV side, one of things we're seeing is much higher claim recoveries in our early duration periods in one to two year range. And we're also seeing higher source security approvals on our continuing claims, again no sign of adverse claim impacts whatsoever.
- To read the full transcript on Seeking Alpha, click here »
