We are a Bermuda headquartered provider of reinsurance and insurance for the property and casualty market and a provider of reinsurance for the life and annuity market with approximately $1,390.0 million in consolidated shareholders’ equity as of December 31, 2006. We believe we differentiate ourselves from our competitors by underwriting a number of specialized reinsurance and insurance products covering exposures in several areas of both markets and, to a lesser extent, by targeting superior risk-adjusted returns from our diversified investment portfolio.

We model our assets and liabilities on an integrated basis to better manage our reinsurance and insurance...