Qualitas Controladra Sab

Thank you for standing by. This is the conference operator. Good morning and welcome to Qualitas' third quarter 23 earnings results webcast. The conference will begin now. It is my pleasure to turn the call over to Andrea Gonzalez, Qualitas' IR manager.

Good morning and thank you for joining Qualitas' third quarter and nine months 2024 earnings goal. Jose Antonio Correa, our CEO, and Roberto Araujo, our CFO, are joining us today. As a reminder, discussions in this event may include forward-looking statements. These statements are based on management current expectations. They are subject to many risks and uncertainties that could cause actual events and results to differ materially from those discussed during today's call. Let's turn it over to Jose Antonio Correa, our CEO, for his remarks.

Thank you, Andrea, and good morning, everyone. As mentioned in prior calls, this year we are celebrating our 30-year anniversary, of which we have been leaders for the past 18 years, by maintaining our focus, agility, and flexibility, while continuing to provide the best-in-class service and actively listening to our agents and policyholders. Our company has shown exceptional resilience over the past three decades, successfully navigating the range of economic and political climates while thriving in highly competitive environments. A true example of this are latest auto insurance industry figures, which reflect that Qualitas is not only the leader in terms of written premium market share, with a record high of 33.1% participation, but also show that Qualitas represents 83% of the total undergraduate industry results and 44% of the industry net result, posting the best combined ratio within the top five companies. we still believe in the potential of more profitable growth to come. These remarkable stats reflect Qualitas' commitment to create value, and I would highlight the importance of the unique and close relationship we have with our more than 22,000 non-exclusive agents, who represent two-thirds of year-to-date written premiums. In September, Qualitas Mexico was awarded the fifth consecutive year with the title of La Aseguradora Ideal, or the Ideal Insurance Company, by a specialized magazine where agents themselves are the voters. Honored and motivated by this distinction throughout this quarter, Qualitas C-Suite, me included, held several seminars with agents across Mexico over the past several months. We cover multiple regions, including the Central Zone, the North, and the Bajio, with over 4,000 agents participating and getting important information about new tools, products, and changes in processes to become better and faster. We are grateful to each one of them for their presence, unwavering commitment, and most of all, for their transparent feedback on opportunities where we can further develop as a company and improve our service and products. Now, let me dive into our nine-month performance, and as I mentioned throughout this year, we see 2024 as a year of two tails. A first half that has reflected a strong momentum in terms of underwriting, and a second half where we recognize we will have a more cautious consumer behavior with lower benefit from pricing. Quarterly speaking, we achieved 24% growth ahead of our expectations, taking year to date to a 30% growth. With that in mind, the nine months of new car sales resulted in a 10.5% increase versus the same period last year. with September posting a slowdown in the pace for the first time in 28 months, with a 1.4% decrease in growth versus the same month of 2023. As of today, AMDA adjusted its annual growth estimates to around 11%. Despite these early signs of change in growth pace, which will continue to be positive but not as steep as prior years, and with our current network of more than 578 service offices and ODQs, plus Qualitas cost efficiency efforts, we foresee significant opportunities to keep on delivering positive margins and ROE levels within targets. Before I hand it over to Roberto, our CFO, we communicated to the market in early August a cybersecurity incident for which we activated our information technology protocol and implemented our protection and response controls. Qualitas operation and service to policyholders remain uninterrupted through backup procedures and maintain underwriting activity. Thanks to our preventive measures, the company avoided any material impact, proof of that is solid quarterly results already being discussed. Recognizing this is a risk that will prevail across industries and countries, we have strengthened our team, including external advisors. And furthermore, we will continue to leverage our ability to create value. enabling us to anticipate challenges and seizing opportunities by positioning Qualitas capabilities to deliver strong returns for our shareholders and establish a solid long-term investment opportunity. Our enduring spirit of resilience not only shapes our history, but also empowers us to navigate the present landscape with confidence and to move toward a prosperous future. And with that, let me pass it on over to Roberto. Roberto, please.