Are you able to sort of give a bit of a, a background to how those mechanisms work?

Sure.

So the Lloyd's standard mechanism is a, um, year of account is open for three years.

So in general speaking, you're only ever exposed to three years.

So if we think of, for example, casualty sidecars, which are quite in vogue at the moment, the biggest, um, question mark I hear over them is how, how you exit, how you get your money back.

Whereas in Lloyd's, it's a very sort of well-trodden path that I would say 99% of syndicates at the end of the three years will close naturally into the following year of account, and that's a very governed process.

So you require an external actuary to sign off the s- um, reserves.

Um, L- Lauren, if you, if you had a, a magic wand, I guess thinking ILS but also Lloyd's, w- what sort of, uh, developments would you like to see, um, in terms of improving your experience and usability of, of both?