writing

, submit this Policy to the Management Committee prior to the Board meeting. 2.2 Non-Compliance with the Policy 2.2.1 Compliance with this Policy is mandatory. Any deviation from the principles outlined therein shall be communicated in writing to the

............................................................................................. 20 A.1. Business ................................................................................................................................... 20 A.2. Underwriting Performance... ..................................................................................................................... 57 C.1. Underwriting risk .................................................................................................................... 57 C.2. Market

occurred over the reporting period ....... 29 A.2 Underwriting Performance .............................................................................................. 30 A.3 Investment Performance... ....................................................................................................................... 57 C.1 Underwriting risk ............................................................................................................. 57 C.2 Market risk

reporting period ....... 28 A.2 Underwriting Performance ............................................................................................. 28 A.3 Investment Performance... Underwriting risk ........................................................................................................... 58 C.2 Market risk

............................................................................................. 19 A.1 Business ......................................................................................................................... 19 A.2 Underwriting Performance... ..................................................................................................................... 55 C.1 Underwriting risk ............................................................................................................ 55 C.2 Market risk

............................................................................................. 18 A.1 Business ................................................................................................................................... 18 A.2 Underwriting Performance... .............................................. 51 C. Risk Profile ..................................................................................................................... 52 C.1 Underwriting risk