Over the past 12 months, book value per share has increased by US$13.48, or 26.3%, factoring in net income and unrealized investment gains, offset by US$1.76 per share in dividends. Excluding after-tax unrealized investment losses, book value per diluted share was US$65.24, representing a 2.7% increase from US$63.54 at the end of the previous quarter and a 9.1% rise from US$59.78 a year earlier.