We are pleased to report that, all in all, things have gone pretty well financially for AEGIS since we were last together for the Policyholders’ Conference. Happily, underwriting is performing better than planned in both the US and London, while investments are a drag on our bottom line. As of September 30, total surplus has grown to $1.238 billion, an increase of $16 million since year-end. This is largely due to our overall combined ratio being 87%, comprised of a US combined ratio of 92% and a London combined ratio of 82%. These positive ratios are in large part due to favorable runoff of prior years. Unfortunately, our investment total return is at -0.95%, which is 3.42% worse than planned. I think you’ll agree that these results certainly highlight the importance of getting our underwriting right in this difficult investment market. Since September 30, investments have picked up a bit, and we are still hopeful that with a little more help there we can achieve our financial plan for the year.