Beazley plc Syndicate 623 Market Reporting. 31 December 2015

Transcription

1 Beazley plc Syndicate 623 Market Reporting 31 December 2015

2 CONTENTS 31 December Executive Summary 2. Profit & Loss Account by year of account 3. Summary of Technical Accounts 4. Segmental Analysis 5. Balance Sheet 6. Balance Sheet by currency 7. Cash Flow Statement 8. Forecast Result to Ultimate 9. Summary of RITC Technical Reserves by underwriting year 10. Summary of Technical Reserves 11. Large Losses 12. Results and Cash Call Analysis 13. Administrative Expenses Analysis 14. Gross Triangles 15. Net Triangles

3 Market Summary - 31 December 2015 Calendar Year To Date 2015 Executive Summary m Gross Premium Earned Premium, net of re-insurance Claims Incurred, net of re-insurance (90.6) Retained Profit for the period 31.8 Claims ratio 45% Expenses Ratio 41% Combined Ratio 86% Forecast return on capacity to Ultimate at 31 December YOA 10.8% Forecast return on capacity to Ultimate at 31 December YOA 5.0% 1 Executive Summary

4 Profit & Loss Account for the period ended 31 December Combined YOA m m m m Gross premiums Reinsurers' share (0.2) (1.5) (45.6) (47.3) Net premiums Gross provision for unearned premium (109.1) (5.4) Reinsurers' share (1.5) (12.6) Earned premiums, net of reinsurance Gross claims paid (81.8) (22.9) (5.0) (109.7) Reinsurers' share of paid amount Net claims paid (66.7) (21.0) (4.4) (92.1) Grossed up claims reserves (28.7) (72.0) 2.0 Reinsurance element of grossing up (20.9) (0.5) Claims incurred, net of reinsurance 15.1 (48.1) (57.6) (90.6) Profit/(loss) on exchange (0.8) Acquisition expenses Commissions (0.6) (4.6) (45.2) (50.4) Other acquisition expenses (10.7) (10.1) Change in deferred acquisition costs (2.7) (23.0) Total acquisition expenses (2.9) (27.4) (29.2) (59.5) Balance on technical account Result from technical account Gross investment income Gross investment losses (5.4) (2.4) (3.1) (10.9) Gross investment expenses (0.5) (0.2) (0.3) (1.0) Result before personal expenses "Standard" personal expenses (3.2) (2.2) (3.9) (9.3) Result after standard personal expenses Other administrative expenses (1.8) (1.8) (11.8) (15.4) Result after all personal expenses (6.3) 30.5 STRGL - profit on exchange on b/fwd reserves (0.1) 1.3 Statement of total recognised gains and losses (0.1) 1.3 Retained profit for the period (6.4) Profit & Loss by YOA

5 Summary of Technical Accounts for the period ended 31 December 2015 YOA Cumulative actual to date Combined YOA As at 31 December 2015 m m m m Gross premiums written Net premiums written Earned premiums, net of reinsurance Gross claims (107.2) (120.1) (77.0) (304.3) Reinsurers' share Net operating expenses (76.4) (73.6) (44.5) (194.5) Investment return Profit/(loss) for year of account to date (6.3) 34.1 Cumulative brought forward Combined YOA At 1 January 2015 m m m m Gross premiums written Net premiums written Earned premiums net of reinsurance Gross claims (128.1) (68.6) - (196.7) Reinsurer's share Net operating expenses (68.3) (43.5) - (111.8) Investment return Profit/(loss) for year of account 8.2 (6.6) Summary of Technical Accounts

6 Segmental Analysis for the period ended 31 Dec 2015 Specialty Marine PCG Property Treaty Lines Total Period ended 31 Dec 2015 m m m m m m Gross premiums written Net premiums written Gross earned premiums Outward reinsurance earned premiums (4.3) (1.8) (7.6) (9.1) (18.7) (41.5) Earned premiums, net of reinsurance Gross claims (14.1) (4.1) (17.7) (10.0) (61.8) (107.7) Reinsurers share Claims incurred, net of reinsurance (14.0) (3.8) (16.6) (6.0) (50.2) (90.6) Net operating expenses (16.1) (5.0) (22.5) (9.7) (31.4) (84.8) Technical result before investment income Investment income Balance on technical account (before STRGL) Non technical account income/charges Result after non technical income/charges Specialty Marine PCG Property Treaty Lines Total Period ended 31 Dec 2014 m m m m m m Gross premiums written Net premiums written Gross earned premiums Outward reinsurance premiums (4.6) (2.3) (7.5) (6.4) (13.5) (34.1) Earned premiums, net of reinsurance Gross claims (14.5) (1.2) (16.0) (12.5) (52.4) (96.7) Reinsurers share 0.5 (0.0) (1.5) Claims incurred, net of reinsurance (14.0) (1.2) (17.5) (12.0) (43.8) (88.5) Net operating expenses (17.4) (4.9) (20.4) (9.2) (29.7) (81.6) Technical result before investment income (0.9) 16.4 Investment income Balance on technical account (before STRGL) Non technical account income/charges Result after non technical income/charges NOTE: Struggle amount is excluded 4 Segmental Analysis

7 All YOA combined Balance Sheet as at 31 Dec Dec Dec-14 m m Assets Investments Debt securities and other fixed income securities Reinsurers' share of technical provisions Provision for unearned premiums, reinsurers' share Claims outstanding (reported), reinsurers' share Claims outstanding (IBNR), reinsurers' share Debtors Debtors arising out of direct insurance operations Debtors arising out of reinsurance operations Other debtors Cash at bank and in hand Other assets Prepayments and accrued income Deferred acquisition costs Other prepayments and accrued income Total assets Liabilities Members' balances attributable to underwriting participations (34.0) (34.1) Technical provisions Provision for unearned premiums (121.7) (114.9) Reported claims (124.5) (132.1) IBNR claims (327.7) (314.6) Unallocated loss adjustment expenses (5.8) (5.7) (579.7) (567.3) Creditors Creditors arising out of direct insurance operations Creditors arising out of reinsurance operations (34.4) (20.9) Accruals and deferred income (0.6) 0.0 Other creditors (68.2) (42.1) (103.2) (63.0) Total liabilities (716.9) (664.4) 5 Balance Sheet

8 All YOA combined Balance Sheet As at 31 Dec 2015 All Years All Years All Years CNVm GBP m US$m Assets Investments Debt securities and other fixed income securities Reinsurers' share of technical provisions Provision for unearned premiums, reinsurers' share Claims outstanding (reported), reinsurers' share Claims outstanding (IBNR), reinsurers' share Debtors Debtors arising out of direct insurance operations Debtors arising out of reinsurance operations Other debtors Cash at bank and in hand Other assets Prepayments and accrued income Deferred acquisition costs Other prepayments and accrued income 0.5 (0.0) Total assets Liabilities Members' balances attributable to underwriting participations (34.0) 60.4 (142.5) Technical provisions Provision for unearned premiums (121.7) (17.5) (157.3) Reported claims (124.5) (30.9) (141.4) IBNR claims (327.7) (56.8) (409.1) Unallocated loss adjustment expenses (5.8) (5.7) (0.1) (579.7) (110.9) (707.9) Creditors Creditors arising out of direct insurance operations Creditors arising out of reinsurance operations (34.4) (4.2) (45.7) Accruals and deferred income (0.6) (0.3) (0.4) Other creditors (68.2) (111.7) 65.6 (103.2) (116.2) 19.5 Total liabilities (716.9) (166.7) (830.9) 6 Balance Sheet by currrency

9 Cash Flow Statement for the period ended 31 December Dec Dec-14 m m Operating profit on ordinary activities Change to market value and currencies on investments (3.9) 1.0 Foreign exchange adjustment on brought forward reserves (0.5) 1.9 Increase/(decrease) in net technical provisions (Increase)/decrease in debtors (35.3) (9.8) Increase/(decrease) in creditors 39.6 (3.0) Movement on balance due to members (0.4) (2.0). Net cash inflow from operating activities Transfer to members in respect of underwriting participations (29.2) (22.1) Cash flows were invested as follows: (Decrease)/increase in cash holdings (0.9) 2.2 Increase/(decrease) in overseas deposits (1.4) (7.0) Decrease/(increase) in debt securities and other fixed income securities Net investment of cash flows Cash Flow Statement

10 Forecast Result to Ultimate 31 Dec 2015 Best Case Expectation Forecast to Ultimate Worst Case Expectation Reporting Year of Account A B C Pure year earned premiums net of reinsurance Pure year total technical charges before net operating expenses (107.3) (107.3) (107.3) Pure year underwriting result Prior year underwriting result Brokerage and commissions (44.4) (44.4) (44.4) Administrative expenses (including other acquistion costs) (35.3) (35.3) (35.3) Non-technical account and STRGL Total investment return Profit to ultimate Profit to ultimate as % of capacity 10.8% 10.8% 10.8% Best Case Expectation Forecast to Ultimate Worst Case Expectation Reporting Year of Account A B C Pure year earned premiums net of reinsurance Pure year total technical charges before net operating expenses (104.0) (116.1) (128.2) Pure year underwriting result Prior year underwriting result Brokerage and commissions (48.3) (48.3) (48.3) Administrative expenses (including other acquistion costs) (37.1) (37.1) (37.1) Total investment return Profit to ultimate Profit to ultimate as % of capacity 10.0% 5.0% 0.0% 8 Forecast Result to Ultimate

11 RITC Technical Reserves split by underwriting year Syndicate 623 Summary of RITC Technical Reserves All in CNV GBP GROSS and NET Technical Reserves Gross Net As at 31 Dec 2015 GBP GBP 1993 IBNR 45,687 29,563 Outstanding claims 15,459 7, IBNR 54,647 42,874 Outstanding claims 16,738 16, IBNR 27,495 30,302 Outstanding claims 46,994 9, IBNR 90,404 62,243 Outstanding claims 36,161 36, IBNR 239, ,441 Outstanding claims 48,775 47, IBNR 304, ,590 Outstanding claims 102,327 88, IBNR 1,658, ,306 Outstanding claims 2,165, , IBNR 630, ,792 Outstanding claims 284, , IBNR 419, ,766 Outstanding claims 255, , IBNR 630, ,770 Outstanding claims 707, , IBNR 990,095 1,169,737 Outstanding claims 543, , IBNR 2,892,548 2,821,873 Outstanding claims 959, , IBNR 3,396,241 2,634,090 Outstanding claims 1,589,592 1,323, IBNR 6,204,395 4,700,260 Outstanding claims 2,870,939 2,344, IBNR 9,742,104 7,405,184 Outstanding claims 7,813,873 4,121, IBNR 10,974,829 8,021,793 Outstanding claims 9,190,239 5,790, IBNR 17,729,512 11,211,744 Outstanding claims 10,794,358 7,669, IBNR 19,446,009 15,213,349 Outstanding claims 10,393,027 7,356, IBNR 28,316,403 19,601,566 Outstanding claims 13,975,292 11,366, IBNR 35,005,935 25,643,668 Outstanding claims 14,826,593 11,674,478 RITC Technical Reserves split by underwriting year Syndicate 623 Summary of RITC Technical Reserves All in CNV USD GROSS and NET Technical Reserves Gross Net As at 30 June 2014 USD$ USD$ 1993 IBNR 68,987 44,640 Outstanding claims 23,342 11, IBNR 82,517 64,740 Outstanding claims 25,275 25, IBNR 41,517 45,756 Outstanding claims 70,962 14, IBNR 136,510 93,987 Outstanding claims 54,603 55, IBNR 361, ,496 Outstanding claims 73,650 71, IBNR 460, ,211 Outstanding claims 154, , IBNR 2,503, ,993 Outstanding claims 3,270, , IBNR 952, ,686 Outstanding claims 430, , IBNR 632, ,666 Outstanding claims 385, , IBNR 951, ,343 Outstanding claims 1,068, , IBNR 1,495,044 1,766,303 Outstanding claims 820, , IBNR 4,367,747 4,261,028 Outstanding claims 1,449,145 1,158, IBNR 5,128,324 3,977,475 Outstanding claims 2,400,283 1,998, IBNR 9,368,636 7,097,392 Outstanding claims 4,335,118 3,540, IBNR 14,710,577 11,181,828 Outstanding claims 11,798,948 6,223, IBNR 16,571,992 12,112,907 Outstanding claims 13,877,262 8,743, IBNR 26,771,563 16,929,734 Outstanding claims 16,299,480 11,580, IBNR 29,363,473 22,972,158 Outstanding claims 15,693,471 11,108, IBNR 42,757,768 29,598,365 Outstanding claims 21,102,691 17,163, IBNR 52,858,962 38,721,939 Outstanding claims 22,388,155 17,628,462 9 Closed Year Tech Reserves

12 Summary of Technical Reserves Syndicate 623 Summary of claims reserves on Old Years All in CNV GBP ( m) GROSS and NET Technical Reserves 31-Dec-15 IBNR Outstanding claims 2013 YOA and prior Gross 138,798,568 76,637,609 Net of Re-insurers share 100,777,913 53,951,442 Syndicate 623 Summary of claims reserves on Old Years All in CNV USD ($M) GROSS and NET Technical Reserves 31-Dec-15 IBNR Outstanding claims 2013 YOA and prior Gross 209,585, ,722,790 Net of Re-insurers share 152,174,649 81,466,678 Syndicate 623 Summary of total claims reserves All in CNV GBP ( m) GROSS and NET Technical Reserves 31-Dec-15 IBNR Outstanding claims All Years Gross 333,494, ,529,038 Net of Re-insurers share 251,427,210 95,964,015 Syndicate 623 Summary of total claims reserves All in CNV USD ($M) GROSS and NET Technical Reserves 31-Dec-15 IBNR Outstanding claims All Years Gross 503,576, ,038,847 Net of Re-insurers share 379,655, ,905, Total Tech Reserves

13 Large Losses Cat No Description YOA CCY Gross Ultimate Net Ultimate 10E Transocean MODU Deepwater Horizon 2009 GBP - 3,167, ,292, E Transocean MODU Deepwater Horizon 2010 GBP P New Zealand Earthquake Sept GBP - 3, , P New Zealand Earthquake Sept GBP - 225, , P New Zealand Earthquake Sept GBP - 7,545, ,924, C New Zealand Earthquake Feb GBP - 224, , C New Zealand Earthquake Feb GBP - 9,016, ,281, C New Zealand Earthquake Feb GBP - 4,097, ,987, N New Zealand Earthquake at summer 2009 GBP - 5, , N New Zealand Earthquake at summer 2010 GBP - 336, , N New Zealand Earthquake at summer 2011 GBP - 86, , J Hurricane Sandy from Caribbean and ongoing 2007 GBP - 2,955, ,168, J Hurricane Sandy from Caribbean and ongoing 2010 GBP - 56, , J Hurricane Sandy from Caribbean and ongoing 2011 GBP - 2,465, ,384, J Hurricane Sandy from Caribbean and ongoing 2012 GBP - 8,852, ,141, J Hurricane Sandy from Caribbean and ongoing 2013 GBP MADO MADOFF LOSS TRACKING 2007 GBP - 219, , MADO MADOFF LOSS TRACKING 2008 GBP - 74, , MADO MADOFF LOSS TRACKING 2009 GBP - 1, , MADO MADOFF LOSS TRACKING 2011 GBP - 6, , SUBS SUB PRIME 2001 GBP SUBS SUB PRIME 2005 GBP SUBS SUB PRIME 2006 GBP - 85, , SUBS SUB PRIME 2007 GBP - 1,934, ,721, SUBS SUB PRIME 2008 GBP - 71, , SUBS SUB PRIME 2009 GBP - 8, , SUBS SUB PRIME 2010 GBP SUBS SUB PRIME 2014 GBP - 1, , A Cyclone Oswald affecting Queensland and New South Wale 2010 GBP A Cyclone Oswald affecting Queensland and New South Wale 2011 GBP - 17, , A Cyclone Oswald affecting Queensland and New South Wale 2012 GBP - 59, , F Flooding following heavy rain in Alberta 2011 GBP - 13, , F Flooding following heavy rain in Alberta 2012 GBP - 59, , F Flooding following heavy rain in Alberta 2013 GBP - 755, , K SK Hynix Semiconductor Loss 2012 GBP - 9, , K SK Hynix Semiconductor Loss 2013 GBP - 175, , P Cold Water USA/Canada - "Polar vortex" 2012 GBP - 49, , P Cold Water USA/Canada - "Polar vortex" 2013 GBP - 508, , P Cold Water USA/Canada - "Polar vortex" 2014 GBP - 37, , A Malaysian airlines loss of B ER, 9M-MRO 2013 GBP - 257, , B Attacks on Tripoli Airport 2013 GBP - 1,530, ,530, C Loss of Malaysian Airways flight MH-17 over Ukraine 2013 GBP - 477, , C Loss of Malaysian Airways flight MH-17 over Ukraine 2014 GBP D Hurricane Odile 2013 GBP - 205, , D Hurricane Odile 2014 GBP - 1,486, ,367, F Brisbane and South- East Queensland Storm 2013 GBP - 24, , F Brisbane and South- East Queensland Storm 2014 GBP - 117, , A Loss of Germanwings Flight 9525 over the French Alps 2014 GBP - 46, , A Loss of Germanwings Flight 9525 over the French Alps 2015 GBP - 52, , C Typhoon Souledor affecting Saipan, Taiwan, E China 2015 GBP - 18, , HTTN Losses arising from the burglary of the Hatton Garden Safe 2014 GBP - 91, , HTTN Losses arising from the burglary of the Hatton Garden Safe 2015 GBP - 33, , D Warehouse explosions in Tianjin 2014 GBP D Warehouse explosions in Tianjin 2015 GBP - 352, , E South Carolina Wildfires 2015 GBP - 66, , F Valley fire in Lake, Napa and Sonoma counties 2015 GBP - 67, , G South Carolina Floods 2014 GBP - 6, , G South Carolina Floods 2015 GBP - 41, , H Hurricane Patricia 2015 GBP - 8, , Large Losses

14 Results and Cash Calls Analysis Reporting Year of Account Profit for the period (QMA100 line 54) 18,655,812 Profit B/fwd to Current Year 8,477,558 Cumulative Profit to date 27,133,370 Cash distributions made to members to date - Members' balances attributable to underwriting * 27,133,370 Cash Call/(Distribution) forecast schedule Current quarter +1 - Current quarter +2 - Current quarter +3 - Current quarter +4 - Current quarter +6 - Current quarter +8 - Thereafter - Total - Expected date of closure by RITC 31/12/2015 * This is before adjustments made on the QMA 102 Reporting Year of Account Profit for the period (QMA100 line 54) 19,567,983 Loss B/fwd to Current Year (6,290,504) Cumulative Profit to date 13,277,480 Cash calls made/(distributions to members) to date - Members' balances attributable to underwriting 13,277,480 Cash Call/(Distribution) forecast schedule Current quarter +1 - Current quarter +2 - Current quarter +3 - Current quarter +4 - Current quarter +6 - Current quarter +8 - Thereafter - Total - Expected date of closure by RITC 31/12/2016 Reporting Year of Account Profit for the period (QMA100 line 54) (6,410,561) Profit B/fwd to Current Year - Cumulative Profit to date (6,410,561) Cash calls made/(distributions to members) to date - Members' balances attributable to underwriting (6,410,561) Cash Call/(Distribution) forecast schedule Current quarter +1 - Current quarter +2 - Current quarter +3 - Current quarter +4 - Current quarter +6 - Current quarter +8 - Thereafter - Total - Expected date of closure by RITC 31/12/ Results & Cash Call Analysis

15 Administrative Expenses Analysis Calendar Year To Date Comparative m m Wages & Salaries (15.2) (11.1) Social Security Costs and Pension Costs (5.1) (3.7) Accommodation Costs (1.3) (1.3) Computer & Processing Costs (1.5) (1.4) Overseas Operating Expenses (0.8) (0.8) Auditor's Remuneration (0.0) (0.0) Legal & Professional, including other fees to auditors (3.1) (2.4) Travel & Entertainment (0.9) (0.8) Other Expenses (0.5) (5.5) Credit for QQS Over-riders Transfer to Claims Handling Transfer to Acquisition Costs Total (15.6) (16.3) 13 Admin Expenses Analysis

16 Gross Triangles Month Premium Paid Inc Premium Paid Inc Premium Paid Inc Premium Paid Inc ConvGBP 3 8,095,595 (4,674) 134,355 11,609,734 36, ,645 11,548,386 47, ,282 6,554,422 15, ,685 ConvGBP 6 16,686, ,607 1,371,155 21,476, ,846 3,588,962 22,216, ,111 1,266,159 15,684, ,976 1,063,691 ConvGBP 9 28,446, ,505 5,272,325 33,846,436 1,796,143 6,769,500 36,366,734 2,664,766 6,557,848 29,033,904 1,564,204 3,650,351 ConvGBP 12 39,870,120 3,096,221 11,411,043 47,335,571 4,403,979 12,808,317 47,657,669 7,020,481 12,528,550 42,365,243 3,481,290 7,391,333 ConvGBP 15 43,990,532 7,931,281 19,510,595 52,305,014 8,271,753 16,272,760 58,629,994 10,949,139 18,690,897 52,865,831 6,039,124 11,070,052 ConvGBP 18 47,596,972 10,651,786 21,881,020 54,830,686 10,532,826 18,967,109 64,444,109 14,797,570 23,118,346 59,897,894 9,369,347 16,820,801 ConvGBP 21 49,343,586 13,525,088 24,909,559 56,938,728 13,172,056 21,099,610 67,460,461 17,758,046 26,125,975 63,294,430 12,488,552 20,970,806 ConvGBP 24 50,168,158 18,591,468 27,600,922 57,914,438 15,549,641 24,126,944 69,510,749 20,671,887 29,807,958 64,746,167 16,001,776 27,124,705 ConvGBP 27 50,610,134 21,311,103 29,390,793 58,462,365 17,947,240 27,131,200 69,790,428 23,003,958 31,223,974 65,810,182 17,860,738 29,152,816 ConvGBP 30 50,836,653 23,154,178 30,168,925 58,659,241 19,268,881 28,071,559 70,070,828 24,477,832 32,892,358 66,397,866 20,220,394 31,850,850 ConvGBP 33 50,911,447 24,088,949 30,668,166 58,883,642 20,341,275 28,570,813 70,138,523 25,994,231 33,759,624 66,756,910 21,813,242 33,520,912 ConvGBP 36 50,976,422 24,949,277 32,326,257 58,912,606 22,802,903 29,884,068 70,116,685 27,192,059 35,291,155 66,649,270 23,414,478 36,793,184 ConvGBP 39 50,961,512 25,522,714 32,891,190 59,005,129 24,050,829 31,050,638 70,137,842 28,376,517 36,052,647 66,677,405 25,737,243 38,128,365 ConvGBP 42 50,907,774 26,562,084 33,244,520 58,973,120 24,963,998 32,170,596 70,215,821 29,350,441 37,427,747 66,554,148 26,936,454 38,898,180 ConvGBP 45 50,877,959 27,265,719 33,856,664 58,947,282 25,871,594 33,569,042 70,216,824 30,782,398 38,640,716 66,638,059 28,784,089 39,290,730 ConvGBP 48 50,873,989 27,695,365 34,597,534 58,931,597 27,250,712 33,903,336 70,203,132 31,906,573 39,390,985 66,651,939 29,891,112 41,021,580 ConvGBP 51 50,763,161 28,209,826 34,485,408 58,896,122 28,897,934 34,663,194 70,203,542 32,827,042 40,131,369 66,643,111 30,564,073 41,130,361 ConvGBP 54 50,745,788 28,646,223 34,723,765 58,739,786 29,410,648 35,051,276 70,126,968 33,775,369 40,124,950 66,670,134 31,320,627 41,927,409 ConvGBP 57 50,783,370 29,148,515 34,918,722 58,779,829 30,266,743 34,655,007 70,193,716 34,447,464 41,096,609 66,628,370 32,003,196 41,947,824 ConvGBP 60 50,792,327 30,275,485 35,420,708 58,776,885 31,267,686 34,721,731 70,204,340 35,051,650 41,086,846 66,548,677 32,766,290 41,925,225 ConvGBP 63 50,835,889 30,961,556 35,760,921 58,755,510 31,610,474 35,047,679 70,158,257 35,280,365 41,286,873 66,582,942 32,990,709 41,909,366 ConvGBP 66 50,861,237 31,504,079 36,182,857 58,753,338 31,812,259 35,146,952 70,137,411 35,629,690 41,060,757 66,629,365 33,325,408 41,929,184 ConvGBP 69 50,886,138 32,087,567 36,192,482 58,752,087 32,181,041 35,438,995 70,031,415 35,954,276 41,594,226 66,596,499 33,672,657 41,889,226 ConvGBP 72 50,942,413 32,958,061 36,612,284 58,756,465 32,599,728 35,284,025 70,027,186 36,176,199 41,808,636 66,514,651 34,480,543 41,976,300 ConvGBP 75 50,920,632 33,498,894 36,591,096 58,751,470 32,789,817 35,534,228 70,052,094 36,770,629 41,673,777 66,512,210 34,648,911 41,332,988 ConvGBP 78 50,897,667 33,913,338 36,738,015 58,805,143 32,922,968 35,645,745 70,061,202 37,069,858 41,755,380 66,487,243 35,342,999 41,290,896 ConvGBP 81 50,912,525 34,348,102 37,055,857 58,900,792 32,980,498 35,913,160 70,055,069 37,445,376 42,350,212 66,493,348 36,121,477 40,677,369 ConvGBP 84 50,909,473 34,376,176 37,040,848 58,908,534 33,239,090 36,067,129 70,096,097 37,732,682 42,202,912 66,497,876 36,287,296 40,410,200 ConvGBP 87 50,912,269 34,734,373 37,206,901 58,907,846 33,378,884 36,201,825 70,082,424 37,947,921 42,455,704 66,564,294 36,579,704 40,556,956 ConvGBP 90 50,930,304 34,887,503 37,225,062 58,908,242 33,525,006 36,131,314 70,084,020 38,089,341 43,056,276 66,554,312 36,793,798 40,581,978 ConvGBP 93 50,934,183 34,527,482 36,921,192 58,902,013 33,624,028 36,200,235 70,082,276 38,248,973 43,030,291 66,557,298 36,962,742 40,672,272 ConvGBP 96 50,906,514 34,781,916 36,993,259 58,915,956 33,936,687 36,326,099 70,063,982 38,397,186 43,055,192 66,571,735 37,542,365 40,576,497 ConvGBP 99 50,879,600 35,127,313 37,141,335 58,914,803 34,107,152 36,409,287 70,145,275 38,696,571 42,759,862 66,571,160 37,811,239 40,619,351 ConvGBP ,883,232 35,349,307 37,204,759 58,914,884 34,161,535 36,232,497 70,146,778 39,136,256 42,786,696 66,602,218 37,809,994 40,521,830 ConvGBP ,883,386 35,561,248 37,414,561 58,916,223 34,260,100 36,240,084 70,176,813 39,186,133 42,530,951 66,602,297 37,907,388 40,993,262 ConvGBP ,882,169 35,605,544 37,439,424 58,918,503 34,363,321 36,439,900 70,179,109 39,445,079 42,364,662 66,573,959 38,081,843 41,031,743 ConvGBP ,882,417 35,727,421 37,409,929 58,919,739 34,552,055 36,508,964 70,176,425 39,505,544 42,376,210 66,549,078 38,152,756 40,620,731 ConvGBP ,882,421 35,845,008 37,457,248 58,921,195 34,685,421 36,549,036 70,169,710 39,580,779 42,317,033 66,550,782 38,208,758 40,450,619 ConvGBP ,873,342 35,856,579 37,479,271 58,921,835 34,690,624 36,425,608 70,136,067 39,784,438 42,292,670 66,552,066 38,302,928 40,372,316 ConvGBP ,872,054 35,893,549 37,434,121 58,922,055 34,860,966 36,457,876 70,147,098 40,091,296 42,227,400 66,552,166 38,447,448 40,269,652 ConvGBP ,867,982 35,897,760 37,376,273 58,918,669 35,046,167 36,557,668 70,147,753 40,125,324 42,164,261 66,552,462 38,470,778 40,300,190 ConvGBP ,867,630 35,928,690 37,635,432 58,921,019 35,108,924 36,578,570 70,141,968 40,142,798 42,056,284 66,556,046 38,484,665 40,274,638 ConvGBP ,868,002 36,162,214 37,952,901 58,919,785 35,114,997 36,581,849 70,142,196 40,158,606 42,048,640 66,556,358 38,539,380 40,210,699 ConvGBP ,867,648 36,267,421 37,898,891 58,919,846 35,121,087 36,886,877 70,142,337 40,170,453 42,051,305 66,560,602 38,608,937 40,203,016 ConvGBP ,869,031 36,511,795 37,581,672 58,919,353 35,243,513 36,933,772 70,146,620 40,232,994 41,889,472 66,567,303 38,633,385 40,078,591 ConvGBP ,869,081 36,535,058 37,555,304 58,955,189 35,668,666 36,602,068 70,146,784 40,375,798 41,827,724 66,570,170 38,680,568 40,057,526 ConvGBP ,896,822 36,534,886 37,572,586 58,956,368 35,666,845 36,544,940 70,157,953 40,419,513 41,760,228 66,573,340 38,706,957 40,058,189 ConvGBP ,897,038 36,543,835 37,544,062 58,956,564 35,744,474 36,521,101 70,158,207 40,436,357 41,753,720 66,574,919 38,715,714 40,106,606 ConvGBP ,898,534 36,580,888 37,569,575 58,957,135 35,776,003 36,533,519 70,153,271 40,488,234 41,649,494 66,574,148 38,729,518 40,106,350 ConvGBP ,898,561 36,600,589 37,440,893 58,957,135 35,791,804 36,528,188 70,153,624 40,506,318 41,819,216 66,580,840 38,781,964 39,572,313 ConvGBP ,898,466 36,639,642 37,383,341 58,960,082 35,833,256 36,508,806 70,153,968 40,514,988 41,801,468 66,583,915 38,795,848 39,954,145 ConvGBP ,898,266 36,615,707 37,326,792 58,961,029 35,878,672 36,478,606 70,154,712 40,610,060 41,795,072 66,585,643 38,835,122 39,983,290 ConvGBP ,898,275 36,620,328 37,351,239 58,957,896 35,896,654 36,496,194 70,154,709 40,608,161 41,800,740 66,591,583 38,842,199 39,982,657 ConvGBP ,898,486 36,608,377 37,320,073 58,962,314 35,912,290 36,496,932 70,166,357 40,630,942 41,711,510 66,589,620 38,850,351 39,945,236 ConvGBP ,897,886 36,609,319 37,319,119 58,967,843 35,904,534 36,471,830 70,166,630 40,635,850 42,043,897 66,590,017 38,853,083 40,271,679 ConvGBP ,897,837 36,646,254 37,347,513 58,968,280 36,022,399 36,493,330 70,166,696 41,232,965 42,333,977 66,589,970 39,312,997 40,344,584 ConvGBP ,889,423 36,648,412 37,265,110 58,968,213 36,074,035 36,566,866 70,167,741 41,223,360 42,331,762 66,589,995 39,323,374 40,384,299 ConvGBP ,889,428 36,644,857 37,276,634 58,970,140 36,076,526 36,601,130 70,167,826 41,234,732 42,326,902 66,590,596 39,384,042 40,467,572 ConvGBP ,897,851 36,647,715 37,273,903 58,970,870 36,143,455 36,605,923 70,168,231 41,652,507 42,364,830 66,643,736 39,487,652 40,427,597 ConvGBP ,897,851 36,712,135 37,261,557 58,975,254 36,146,770 36,581,305 70,168,150 41,827,092 42,339,976 66,644,095 39,489,988 40,472,699 ConvGBP ,897,851 36,714,809 37,253,930 58,975,288 36,152,638 36,571,331 70,168,150 41,827,130 42,339,353 66,644,175 39,493,453 40,394,432 ConvGBP ,897,851 36,715,726 37,307,087 58,975,288 36,166,648 36,500,834 70,168,742 41,831,636 42,306,503 66,644,401 39,495,255 40,401,113 ConvGBP ,897,851 36,729,564 37,314,173 58,975,605 36,171,697 36,494,658 70,168,742 41,853,891 42,285,293 66,644,365 39,496,391 40,389,485 ConvGBP ,898,844 36,794,967 37,105,020 58,975,605 36,242,891 36,487,039 70,168,760 41,865,345 42,296,010 66,644,763 39,502,537 40,414,822 ConvGBP ,898,381 36,827,503 37,116,808 58,975,605 36,291,147 36,481,466 70,168,760 41,881,673 42,354,643 66,644,763 39,592,918 40,400,819 ConvGBP ,898,981 36,824,650 37,104,322 58,975,605 36,290,703 36,469,552 70,168,978 41,888,832 42,675,914 66,644,796 39,592,853 40,397,615 ConvGBP ,899,006 36,872,392 37,073,156 58,975,605 36,299,610 36,469,218 70,169,033 41,894,350 42,672,811 66,645,404 39,617,583 40,411,687 ConvGBP ,900,501 36,877,201 37,047,805 58,975,605 36,302,577 36,474,334 70,169,047 42,254,966 42,639,586 66,645,404 39,654,188 40,492,226 ConvGBP ,900,846 36,904,772 37,031,770 58,975,605 36,304,878 36,487,427 70,169,047 42,260,230 42,602,731 66,646,132 39,762,987 40,253,500 ConvGBP ,900,846 36,899,407 37,039,503 58,975,632 36,299,926 36,472,742 70,169,150 42,261,297 42,591,369 66,645,451 39,765,679 40,376,971 ConvGBP ,900,846 36,899,087 37,036,337 58,975,632 36,300,269 36,465,886 70,169,782 42,269,525 42,574,878 66,645,505 39,862,855 40,361,402 ConvGBP ,900,846 36,902,771 37,037,251 58,975,752 36,301,626 36,536,730 70,169,752 42,299,813 42,570,271 66,645,505 39,865,694 40,323,400 ConvGBP ,900,941 36,903,739 37,018,618 58,974,547 36,301,612 36,532,076 70,169,822 42,303,073 42,565,882 66,645,897 39,866,019 40,323,373 ConvGBP ,900,941 36,900,815 36,996,256 58,975,593 36,302,268 36,479,315 70,169,919 42,303,441 42,583,131 66,645,897 39,868,577 40,382,766 ConvGBP ,900,941 36,900,537 36,980,014 58,975,593 36,303,142 36,471,045 70,169,927 42,360,496 42,569,814 66,646,426 39,878,626 40,226,443 ConvGBP ,900,941 36,904,381 36,983,092 58,975,593 36,301,849 36,475,247 70,169,906 42,366,743 42,579,951 66,646,426 39,906,557 40,213,323 ConvGBP ,900,900 36,908,981 37,004,128 58,975,593 36,302,863 36,475,645 70,169,920 42,368,537 42,578,439 66,646,426 39,936,240 40,190,660 ConvGBP ,900,900 36,908,990 37,011,594 58,975,593 36,302,250 36,474,457 70,169,920 42,392,801 42,578,391 66,646,426 40,020,399 40,231,866 ConvGBP ,900,900 36,909,020 37,020,067 58,975,647 36,302,256 36,472,915 70,169,920 42,393,392 42,694,198 66,646,426 40,035,774 40,220,470 ConvGBP ,900,900 36,918,311 37,029,933 58,975,803 36,302,430 36,469,276 70,169,920 42,400,100 42,688,811 66,646,426 40,034,753 40,218,965 ConvGBP ,900,900 36,918,494 37,029,910 58,975,803 36,303,971 36,468,660 70,169,920 42,400,286 42,686, ConvGBP ,901,092 36,918,572 37,033,372 58,975,803 36,304,178 36,466,921 70,169,920 42,401,200 42,677, ConvGBP ,901,131 36,931,591 37,033,423 58,975,803 36,304,457 36,466,269 70,169,920 42,404,728 42,657, ConvGBP ,901,131 36,933,128 37,031,504 58,993,411 36,378,175 36,465,555 70,169,920 42,410,901 42,658, ConvGBP ,901,131 36,933,903 37,014,611 58,993,411 36,379,277 36,468, ConvGBP ,901,131 36,934,655 37,097,630 58,993,411 36,380,214 36,468, ConvGBP ,901,131 36,937,612 37,106,351 58,993,411 36,380,361 36,468, ConvGBP ,934,995 36,940,479 37,046,943 58,993,411 36,380,368 36,467, ConvGBP ,934,995 36,956,406 37,038, ConvGBP ,934,995 36,958,295 37,040, ConvGBP ,934,995 36,960,765 37,041, ConvGBP ,934,995 36,960,765 37,041, Gross Triangles

17 Gross Triangles Month Premium Paid Inc Premium Paid Inc Premium Paid Inc Premium Paid Inc ConvGBP 3 6,554,527 11,900 80,670 7,333, , ,805 7,387,932 83, ,556 7,241, , ,492 ConvGBP 6 14,786, ,733 1,753,346 15,051, ,952 1,526,435 19,668,555 1,287,467 4,661,852 27,636, ,454 2,114,172 ConvGBP 9 28,296,467 1,663,277 3,745,496 27,037,592 2,321,364 4,709,063 41,953,333 3,852,425 13,064,616 50,110,641 3,257,934 7,333,962 ConvGBP 12 40,272,675 3,866,292 9,706,063 40,666,172 7,195,046 17,079,707 61,833,224 8,231,877 22,406,278 76,137,690 6,422,997 17,214,193 ConvGBP 15 50,408,176 6,170,084 13,833,021 55,921,796 11,991,587 23,368,626 81,987,301 16,158,996 37,536, ,697,412 12,212,265 29,909,866 ConvGBP 18 55,501,075 9,956,361 20,187,527 63,685,288 17,589,582 34,812,290 93,110,657 23,253,222 47,261, ,287,490 20,055,114 51,789,704 ConvGBP 21 59,220,687 14,853,061 26,404,033 70,429,602 24,157,573 42,649,983 99,891,486 33,406,298 58,318, ,367,074 34,636,804 70,654,367 ConvGBP 24 62,827,269 18,699,888 33,109,870 76,143,930 31,825,376 53,808, ,840,424 43,385,527 67,059, ,393,066 42,458,742 83,363,160 ConvGBP 27 64,369,205 22,643,514 38,067,360 78,851,800 37,656,129 59,270, ,195,333 49,166,352 80,196, ,575,133 53,107,338 92,524,998 ConvGBP 30 65,274,781 25,885,785 44,267,178 81,173,092 41,338,226 62,160, ,805,405 55,083,056 89,247, ,316,323 63,091, ,678,314 ConvGBP 33 65,815,829 29,002,416 47,789,459 81,664,042 45,538,466 66,792, ,351,868 61,497,156 94,584, ,216,012 68,321, ,848,225 ConvGBP 36 65,938,609 31,195,095 49,503,624 81,615,266 48,126,002 70,212, ,362,720 69,072,370 99,196, ,214,135 77,196, ,982,290 ConvGBP 39 65,999,063 33,918,697 51,011,054 81,466,755 52,121,159 74,915, ,702,661 73,575, ,074, ,687,612 84,156, ,203,422 ConvGBP 42 65,978,538 35,770,385 51,705,627 81,464,389 55,324,009 78,410, ,693,837 77,566, ,551, ,443,787 89,671, ,142,639 ConvGBP 45 65,925,981 37,153,935 51,397,109 81,770,142 58,852,211 80,181, ,753,953 81,403, ,768, ,876,132 91,436, ,564,075 ConvGBP 48 66,052,083 39,249,031 54,439,110 82,026,876 62,376,654 84,323, ,569,399 86,273, ,549, ,624,003 95,479, ,964,471 ConvGBP 51 65,868,712 41,031,624 55,283,940 81,970,268 64,467,718 84,882, ,731,950 89,095, ,925, ,548, ,057, ,062,265 ConvGBP 54 65,807,194 41,758,811 57,119,945 81,946,658 66,104,855 89,888, ,694,887 91,384, ,363, ,498, ,614, ,757,267 ConvGBP 57 65,718,671 44,958,215 57,252,547 81,984,384 68,388,825 90,413, ,597,930 93,700, ,026, ,220, ,636, ,785,281 ConvGBP 60 65,651,797 45,580,708 57,801,073 82,020,811 71,210,291 92,237, ,719,632 95,918, ,909, ,212, ,179, ,335,377 ConvGBP 63 65,638,697 46,807,184 58,936,546 82,082,184 72,737,867 95,030, ,674,539 99,106, ,745, ,148, ,810, ,136,420 ConvGBP 66 65,590,638 48,135,095 60,323,103 82,057,583 74,313,591 96,487, ,572, ,158, ,509, ,078, ,582, ,390,827 ConvGBP 69 65,502,086 50,543,119 61,094,788 82,146,384 79,563,087 98,732, ,460, ,628, ,164, ,238, ,184, ,076,257 ConvGBP 72 65,486,841 51,539,396 62,811,113 82,024,904 81,604, ,144, ,532, ,869, ,109, ,072, ,020, ,754,329 ConvGBP 75 65,589,443 52,778,574 61,901,953 82,013,774 82,967, ,101, ,726, ,756, ,770, ,174, ,945, ,376,355 ConvGBP 78 65,589,600 53,802,748 61,972,096 81,931,203 88,447,529 99,504, ,704, ,658, ,730, ,170, ,947, ,608,790 ConvGBP 81 65,609,564 54,034,037 61,867,530 81,963,038 89,464, ,871, ,681, ,055, ,224, ,143, ,675, ,413,596 ConvGBP 84 65,770,248 54,479,214 61,496,784 81,932,902 90,202, ,882, ,689, ,431, ,535, ,046, ,799, ,424,043 ConvGBP 87 65,763,940 55,635,054 61,664,866 82,063,317 91,361, ,150, ,684, ,230, ,828, ,192, ,147, ,055,954 ConvGBP 90 65,783,114 56,137,605 61,396,406 82,053,052 92,192, ,030, ,689, ,455, ,214, ,277, ,748, ,678,871 ConvGBP 93 65,808,999 56,905,224 61,477,507 82,054,758 92,955, ,757, ,935, ,971, ,962, ,282, ,113, ,256,609 ConvGBP 96 65,817,401 57,168,774 61,647,970 82,113,165 94,090, ,345, ,869, ,861, ,967, ,308, ,835, ,082,930 ConvGBP 99 65,825,963 57,373,705 61,631,780 82,154,380 94,771, ,385, ,952, ,462, ,829, ,312, ,245, ,297,337 ConvGBP ,828,094 57,788,964 61,881,095 82,226,951 95,241, ,320, ,982, ,354, ,506, ,533, ,449, ,943,443 ConvGBP ,861,141 58,045,815 62,309,845 82,232,808 95,990, ,763, ,978, ,150, ,173, ,497, ,054, ,576,974 ConvGBP ,859,217 58,296,850 61,736,321 82,298,717 96,518, ,485, ,013, ,257, ,625, ,530, ,615, ,391,512 ConvGBP ,864,681 58,416,221 61,690,871 82,305,917 96,180, ,924, ,995, ,694, ,491, ,567, ,619, ,396,312 ConvGBP ,864,681 58,566,126 61,870,327 82,330,918 95,754, ,429, ,195, ,352, ,450, ,578, ,014, ,529,091 ConvGBP ,869,536 58,644,767 61,845,720 82,331,921 95,988, ,482, ,181, ,838, ,179, ,577, ,981, ,702,280 ConvGBP ,872,111 58,761,055 61,840,938 82,338,663 95,595, ,017, ,181, ,465, ,982, ,508, ,515, ,074,854 ConvGBP ,871,010 58,906,194 62,105,544 82,374,716 95,830, ,184, ,182, ,881, ,088, ,503, ,785, ,603,591 ConvGBP ,872,432 58,893,681 61,783,271 82,410,317 96,767, ,453, ,199, ,730, ,228, ,503, ,846, ,477,688 ConvGBP ,876,169 58,910,305 61,716,311 82,413,698 97,176, ,939, ,217, ,070, ,007, ,644, ,478, ,557,658 ConvGBP ,877,077 58,917,744 62,020,743 82,421,263 97,446, ,656, ,204, ,508, ,029, ,636, ,349, ,368,667 ConvGBP ,879,509 58,976,728 62,080,853 82,423,248 97,644, ,103, ,202, ,176, ,367, ,678, ,298, ,276,261 ConvGBP ,913,307 59,064,984 62,055,955 82,426,652 97,782, ,117, ,203, ,179, ,236, ,678, ,692, ,727,579 ConvGBP ,915,559 59,237,756 62,029,087 82,427,156 97,884, ,083, ,200, ,743, ,503, ,676, ,904, ,677,364 ConvGBP ,917,814 59,370,722 62,180,712 82,427,080 98,218, ,060, ,200, ,575, ,305, ,678, ,175, ,765,259 ConvGBP ,918,104 59,552,332 62,353,672 82,426,994 98,455, ,101, ,186, ,883, ,363, ,676, ,205, ,564,145 ConvGBP ,920,360 59,685,390 62,316,086 82,426,432 99,387, ,487, ,186, ,081, ,357, ,678, ,773, ,342,224 ConvGBP ,920,076 59,779,963 62,792,932 82,426,466 99,901, ,316, ,193, ,170, ,552, ,678, ,109, ,983,926 ConvGBP ,920,515 60,115,776 62,821,819 82,426, ,062, ,628, ,192, ,309, ,825, ,678, ,284, ,592,853 ConvGBP ,918,125 60,316,006 62,794,045 82,416, ,083, ,685, ,191, ,580, ,781, ,692, ,986, ,668,740 ConvGBP ,918,125 60,379,138 62,733,255 82,416, ,229, ,815, ,193, ,607, ,423, ,695, ,681, ,608,936 ConvGBP ,920,484 60,467,829 62,783,792 82,415, ,296, ,345, ,200, ,863, ,305, ,695, ,832, ,503,646 ConvGBP ,924,325 60,584,055 62,870,215 82,415, ,295, ,264, ,200, ,262, ,414, ,696, ,907, ,547,156 ConvGBP ,925,100 60,642,689 62,891,624 82,416, ,401, ,362, ,200, ,440, ,520, ,696, ,976, ,405,271 ConvGBP ,925,100 60,647,148 62,326,773 82,417, ,318, ,122, ,200, ,714, ,901, ,696, ,103, ,400,193 ConvGBP ,925,100 60,670,391 62,340,017 82,412, ,574, ,054, ,202, ,831, ,540, ,695, ,042, ,295,670 ConvGBP ,925,100 60,735,695 62,251,075 82,412, ,625, ,954, ,204, ,886, ,737, ,695, ,045, ,222,593 ConvGBP ,925,100 60,762,378 62,368,031 82,412, ,648, ,139, ,205, ,969, ,747, ,695, ,013, ,665,068 ConvGBP ,934,639 60,772,767 62,351,184 82,421, ,638, ,977, ,204, ,084, ,623, ,695, ,065, ,640,618 ConvGBP ,934,639 60,915,405 62,275,097 82,421, ,429, ,948, ,203, ,766, ,031, ,695, ,088, ,622,091 ConvGBP ,934,682 60,960,991 62,335,606 82,421, ,650, ,877, ,205, ,862, ,237, ,701, ,207, ,660,235 ConvGBP ,934,682 60,967,774 62,373,913 82,417, ,848, ,052, ,205, ,962, ,186, ConvGBP ,934,682 60,996,630 62,433,070 82,417, ,902, ,027, ,205, ,004, ,147, ConvGBP ,934,416 61,020,595 62,501,146 82,415, ,892, ,667, ,205, ,045, ,146, ConvGBP ,934,416 61,755,303 62,596,387 82,416, ,889, ,539, ,207, ,081, ,086, ConvGBP ,937,135 61,772,596 62,574,516 82,416, ,915, ,507, ConvGBP ,937,382 61,780,188 62,565,025 82,417, ,922, ,495, ConvGBP ,948,141 62,105,808 62,538,931 82,417, ,932, ,488, ConvGBP ,948,141 62,126,391 62,535,860 82,417, ,931, ,472, ConvGBP ,948,141 62,136,861 62,493, ConvGBP ,948,079 62,210,929 62,483, ConvGBP ,948,079 62,220,054 62,488, ConvGBP ,948,082 62,222,515 62,483, Gross Triangles

18 Gross Triangles Month Premium Paid Inc Premium Paid Inc Premium Paid Inc Premium Paid Inc ConvGBP 3 15,602,395 58, ,797 33,169, ,021 26,252,861 8, ,987 35,891,253 21, ,146 ConvGBP 6 47,186,799 1,802,327 4,658, ,342, ,380 1,942,579 81,507, ,565 1,805,110 93,021, ,101 1,968,869 ConvGBP 9 92,410,954 5,532,759 17,220, ,646,888 3,061,418 14,834, ,996,643 2,088,000 7,921, ,570,184 4,568,036 19,451,611 ConvGBP ,303,831 15,737, ,597, ,811,205 9,394,084 31,137, ,421,020 5,430,813 18,968, ,470,483 13,163,679 45,190,787 ConvGBP ,073,262 27,610, ,423, ,259,504 18,901,803 49,394, ,235,369 11,167,798 31,598, ,406,300 23,286,273 67,297,914 ConvGBP ,492,793 45,441, ,484, ,175,940 30,610,305 65,953, ,107,900 18,609,295 40,599, ,471,575 38,121,596 92,546,278 ConvGBP ,626,832 63,462, ,180, ,554,176 43,680,522 83,496, ,169,754 25,623,274 49,741, ,672,373 52,853, ,220,237 ConvGBP ,744,000 96,391, ,656, ,920,212 53,605, ,131, ,438,589 33,460,692 60,179, ,368,522 65,865, ,628,416 ConvGBP ,790, ,240, ,049, ,517,154 66,376, ,356, ,918,879 41,682,640 66,626, ,959,930 84,315, ,555,358 ConvGBP ,458, ,121, ,688, ,396,905 77,176, ,478, ,237,440 48,422,202 74,078, ,322, ,084, ,646,014 ConvGBP ,232, ,855, ,100, ,455,326 83,992, ,654, ,078,756 53,758,568 79,854, ,506, ,103, ,436,671 ConvGBP ,144, ,820, ,022, ,686,459 90,882, ,692, ,563,106 59,934,713 87,324, ,387, ,320, ,791,559 ConvGBP ,536, ,318, ,504, ,108,749 99,263, ,241, ,264,990 63,876,224 90,931, ,654, ,759, ,950,076 ConvGBP ,134, ,356, ,199, ,758, ,985, ,313, ,821,040 69,320,604 94,004, ,235, ,723, ,508,739 ConvGBP ,777, ,770, ,677, ,616, ,486, ,630, ,806,955 73,391,235 96,246, ,080, ,941, ,698,321 ConvGBP ,741, ,284, ,328, ,057, ,470, ,148, ,946,038 77,097,731 96,731, ,557, ,482, ,420,895 ConvGBP ,468, ,606, ,779, ,855, ,461, ,220, ,494,898 80,098,206 97,775, ,053, ,731, ,625,570 ConvGBP ,630, ,937, ,906, ,140, ,062, ,438, ,335,448 83,966, ,676, ,962, ,372, ,138,682 ConvGBP ,663, ,587, ,390, ,101, ,180, ,626, ,245,578 86,304, ,287, ,214, ,191, ,074,572 ConvGBP ,974, ,232, ,853, ,086, ,214, ,172, ,310,123 88,998, ,662, ,331, ,234, ,652,493 ConvGBP ,909, ,070, ,254, ,354, ,375, ,610, ,210,917 91,610, ,612, ,347, ,682, ,884,742 ConvGBP ,938, ,449, ,685, ,307, ,980, ,367, ,145,676 94,767, ,627, ,518, ,990, ,220,033 ConvGBP ,102, ,402, ,912, ,225, ,939, ,973, ,307,653 97,408, ,258, ,785, ,516, ,828,364 ConvGBP ,127, ,175, ,766, ,291, ,405, ,573, ,293, ,951, ,760, ,702, ,916, ,991,298 ConvGBP ,400, ,347, ,936, ,927, ,712, ,544, ,217, ,441, ,202, ,787, ,300, ,184,055 ConvGBP ,391, ,836, ,455, ,940, ,252, ,161, ,212, ,152, ,812, ,968, ,684, ,572,886 ConvGBP ,364, ,615, ,383, ,051, ,462, ,334, ,170, ,288, ,728, ,994, ,734, ,110,495 ConvGBP ,449, ,814, ,076, ,139, ,953, ,171, ,107, ,327, ,546, ,810, ,349, ,655,278 ConvGBP ,480, ,351, ,294, ,956, ,067, ,144, ,086, ,822, ,631, ,025, ,636, ,021,468 ConvGBP ,532, ,413, ,334, ,861, ,460, ,921, ,062, ,418, ,775, ,027, ,221, ,166,468 ConvGBP ,569, ,726, ,273, ,822, ,939, ,784, ,056, ,038, ,877, ,042, ,776, ,029,898 ConvGBP ,262, ,722, ,059, ,731, ,933, ,474, ,030, ,823, ,888, ,038, ,643, ,775,866 ConvGBP ,287, ,235, ,289, ,731, ,974, ,832, ,009, ,799, ,326, ,425, ,309, ,826,590 ConvGBP ,272, ,218, ,757, ,735, ,252, ,376, ,995, ,512, ,668, ,166, ,683, ,697,578 ConvGBP ,265, ,812, ,682, ,783, ,481, ,672, ,038, ,028, ,837, ,111, ,949, ,800,530 ConvGBP ,300, ,362, ,665, ,813, ,684, ,336, ,093, ,225, ,023, ,157, ,540, ,808,314 ConvGBP ,294, ,070, ,763, ,822, ,774, ,200, ,087, ,704, ,761, ,176, ,539, ,539,990 ConvGBP ,305, ,937, ,715, ,812, ,740, ,140, ,090, ,517, ,401, ,173, ,968, ,273,733 ConvGBP ,309, ,380, ,907, ,830, ,671, ,342, ,113, ,329, ,366, ,185, ,307, ,286,682 ConvGBP ,306, ,995, ,323, ,844, ,246, ,226, ,115, ,631, ,859, ,078, ,002, ,530,310 ConvGBP ,318, ,690, ,722, ,838, ,442, ,509, ,116, ,323, ,678, ,098, ,184, ,709,032 ConvGBP ,320, ,244, ,237, ,837, ,520, ,808, ,127, ,452, ,665, ,103, ,370, ,487,166 ConvGBP ,327, ,478, ,787, ,833, ,523, ,300, ,130, ,691, ,605, ,107, ,753, ,207,705 ConvGBP ,329, ,058, ,575, ,834, ,682, ,543, ,153, ,909, ,610, ,126, ,726, ,235,632 ConvGBP ,336, ,458, ,388, ,834, ,849, ,540, ,152, ,943, ,022, ,128, ,853, ,879,687 ConvGBP ,333, ,376, ,738, ,835, ,990, ,240, ,153, ,028, ,463, ,130, ,183, ,874,121 ConvGBP ,334, ,503, ,316, ,834, ,894, ,091, ,165, ,248, ,527, ,132, ,218, ,751,529 ConvGBP ,475, ,825, ,085, ,837, ,939, ,152, ,134, ,779, ,759, ,132, ,348, ,749,369 ConvGBP ,474, ,599, ,668, ,849, ,670, ,518, ,132, ,892, ,571, ConvGBP ,528, ,772, ,755, ,848, ,507, ,656, ,132, ,641, ,435, ConvGBP ,528, ,703, ,890, ,735, ,888, ,150, ,132, ,815, ,534, ConvGBP ,528, ,945, ,215, ,724, ,967, ,137, ,133, ,301, ,759, ConvGBP ,533, ,888, ,806, ,724, ,560, ,946, ConvGBP ,533, ,983, ,894, ,724, ,861, ,894, ConvGBP ,533, ,970, ,486, ,717, ,929, ,876, ConvGBP ,348, ,986, ,465, ,712, ,968, ,533, ConvGBP ,349, ,772, ,400, ConvGBP ,350, ,860, ,082, ConvGBP ,350, ,784, ,124, ConvGBP ,350, ,253, ,453, Month Premium Paid Inc Premium Paid Inc Premium Paid Inc Premium Paid Inc ConvGBP 3 25,634,288 4,224 1,889,118 17,769, , ,995 16,642,524 33, ,777 15,089, ,499 1,011,224 ConvGBP 6 62,067, ,591 2,664,194 50,110, ,704 1,922,273 46,937,611 1,071,660 1,858,744 43,947,700 1,195,467 2,562,706 ConvGBP 9 109,926,912 3,583,890 19,100,045 92,553,387 1,535,152 4,595,673 83,094,284 1,849,888 4,322,060 82,653,831 2,018,239 7,973,511 ConvGBP ,969,380 14,452,711 83,071, ,185,629 3,482,455 12,355, ,304,416 3,940,904 11,457, ,663,993 6,286,020 24,418,350 ConvGBP ,212,268 29,403, ,228, ,015,918 7,177,188 19,733, ,473,652 7,210,993 21,608, ,205,700 10,972,376 30,278,932 ConvGBP ,289,901 50,632, ,851, ,587,652 11,606,561 24,964, ,641,496 12,411,237 30,670, ,108,502 16,728,980 38,523,850 ConvGBP ,111,782 70,423, ,971, ,006,364 16,114,748 31,979, ,350,594 18,599,704 40,288, ,209,846 24,011,965 47,901,747 ConvGBP ,134,480 84,858, ,822, ,039,035 20,825,517 36,848, ,829,799 26,945,914 52,069, ,534,172 31,177,159 53,486,076 ConvGBP ,412,906 96,079, ,941, ,033,221 25,344,720 40,672, ,195,819 33,365,494 59,737, ,075,551 37,529,961 62,436,059 ConvGBP ,344, ,598, ,369, ,038,786 29,893,966 47,663, ,198,848 39,732,228 66,589, ,006,282 43,447,534 66,602,118 ConvGBP ,872, ,654, ,909, ,173,710 34,150,962 53,305, ,736,929 46,445,444 70,346, ,242,956 52,413,625 75,290,494 ConvGBP ,335, ,729, ,771, ,180,680 38,517,676 57,449, ,203,711 51,908,584 74,326, ,618,200 58,790,329 79,717,693 ConvGBP ,934, ,131, ,352, ,569,118 41,934,598 59,361, ,557,752 54,982,762 75,854, ,210,634 65,181,242 88,364,019 ConvGBP ,832, ,124, ,018, ,405,032 44,444,109 66,191, ,537,705 57,464,829 79,020, ,267,749 69,122,632 92,079,693 ConvGBP ,178, ,439, ,373, ,570,076 47,409,663 70,002, ,735,245 63,666,665 83,241, ,520,744 75,759, ,052,676 ConvGBP ,581, ,332, ,569, ,390,062 51,455,545 72,567, ,564,934 69,085,211 86,848, ,439,153 79,167, ,933,830 ConvGBP ,198, ,679, ,675, ,153,610 54,106,046 73,534, ,369,492 72,644,886 92,261, ,390,054 82,928, ,061,126 ConvGBP ,065, ,797, ,629, ,178,834 55,476,734 75,026, ,542,903 74,279,706 93,626, ,299,224 86,904, ,050,465 ConvGBP ,452, ,750, ,880, ,415,792 59,463,526 78,383, ,803,898 77,102,528 95,925, ,386,696 88,891, ,482,185 ConvGBP ,378, ,943, ,848, ,453,460 61,220,090 80,314, ,015,455 78,259,563 99,908, ,385,107 93,761, ,780,679 ConvGBP ,644, ,158, ,180, ,502,217 63,299,530 80,818, ,906,656 81,541, ,808, ,385,292 94,953, ,472,600 ConvGBP ,782, ,637, ,403, ,530,813 65,143,183 82,922, ,925,987 84,792, ,850, ,444,093 98,069, ,125,151 ConvGBP ,939, ,619, ,833, ,700,837 68,259,911 83,962, ,956,858 86,305, ,455, ,480, ,636, ,500,386 ConvGBP ,885, ,070, ,826, ,674,764 69,623,606 84,944, ,017,809 89,403, ,783, ,585, ,827, ,737,821 ConvGBP ,072, ,824, ,765, ,693,964 71,913,311 85,854, ,035,205 93,136, ,843, ,861, ,787, ,933,186 ConvGBP ,015, ,368, ,852, ,724,284 73,579,870 86,020, ,994,054 96,598, ,051, ,964, ,388, ,085,899 ConvGBP ,145, ,449, ,464, ,735,379 74,344,454 87,336, ,934,604 98,381, ,209, ,068, ,928, ,821,751 ConvGBP ,237, ,478, ,151, ,795,879 77,708,000 87,740, ,976, ,303, ,334, ,142, ,760, ,731,966 ConvGBP ,302, ,037, ,364, ,778,978 77,878,961 87,584, ,021, ,946, ,404, ,202, ,539, ,125,923 ConvGBP ,263, ,028, ,784, ,874,117 78,465,365 87,837, ,242, ,804, ,472, ,151, ,428, ,619,226 ConvGBP ,280, ,280, ,911, ,708,755 79,088,130 87,883, ,396, ,037, ,960, ,161, ,562, ,240,794 ConvGBP ,306, ,348, ,139, ,741,740 79,985,167 85,846, ,376, ,836, ,436, ,163, ,917, ,007,153 ConvGBP ,348, ,712, ,593, ,744,827 80,449,227 87,805, ,317, ,016, ,703, ConvGBP ,367, ,722, ,925, ,755,424 80,552,696 87,846, ,309, ,175, ,171, ConvGBP ,337, ,726, ,210, ,797,982 81,414,442 87,879, ,268, ,016, ,565, ConvGBP ,350, ,312, ,742, ,786,001 82,650,581 88,100, ,997, ,411, ,698, ConvGBP ,378, ,409, ,937, ,787,796 83,772,872 88,311, ConvGBP ,379, ,575, ,815, ,836,619 84,582,961 88,411, ConvGBP ,386, ,793, ,995, ,852,441 84,623,188 88,034, ConvGBP ,378, ,029, ,114, ,866,427 84,896,868 87,968, ConvGBP ,385, ,212, ,056, ConvGBP ,387, ,395, ,119, ConvGBP ,396, ,556, ,070, ConvGBP ,390, ,163, ,210, Gross Triangles