Letter of credit

Yeah

... letters of credit.

Again, we can talk about that.

Yeah.

Yeah.

I think on top of that, you don't necessarily have to just pledge assets.

Obviously, we've always had letters of credits, um, that can be used against Lloyd's, but there's a lot more innovation in terms of financing for Lloyd's, um, via corporate members or via London Bridge now.

So I think that's a big step forward over the last few years, and some will think investors are very interested in whether that's Tier 2, Tier 1, sort of turning your capital stack into more of a reinsurance structure.