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0.9333333333333333 1 rg /GS0 gs 106.50 307.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 110.50 307.85 420.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.50 307.85 24.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 56.50 273.85 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 106.50 273.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 110.50 273.85 420.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.50 273.85 24.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 56.50 243.85 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 106.50 243.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 110.50 243.85 420.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.50 243.85 24.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 56.50 213.85 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 106.50 213.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 110.50 213.85 420.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.50 213.85 24.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 56.50 179.85 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 106.50 179.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 110.50 179.85 420.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.50 179.85 24.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 56.50 149.85 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 106.50 149.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 110.50 149.85 420.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.50 149.85 24.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 671.1833984375 m 88.6923828125 671.1833984375 l s q 0 0 1 rg BT 59.00 672.52 Td (P) Tj ET Q q 0 0 1 rg BT 63.64 672.52 Td (AR) Tj ET Q q 0 0 1 rg BT 76.93 672.52 Td (T) Tj ET Q q 0 0 1 rg BT 82.86 672.52 Td ( I) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 656.1833984375 m 87.3251953125 656.1833984375 l s q 0 0 1 rg BT 59.00 657.52 Td (Item1.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 657.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 656.1833984375 m 148.5615234375 656.1833984375 l s q 0 0 1 rg BT 113.00 657.52 Td (Business) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 641.1833984375 m 152.4287109375 641.1833984375 l s q 0 0 1 rg BT 113.00 642.52 Td (Overview) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 627.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 626.1833984375 m 141.876953125 626.1833984375 l s q 0 0 1 rg BT 113.00 627.52 Td (Market) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 612.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0.2 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 611.1833984375 m 159.6650390625 611.1833984375 l s q 0 0.2 1 rg BT 113.00 612.52 Td (Acquisition) Tj ET Q BT /F1 10.00 Tf ET 0 0.2 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 159.6650390625 611.1833984375 m 163.556640625 611.1833984375 l s q 0 0.2 1 rg BT 159.67 612.52 Td (s) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 109.00 597.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 596.1833984375 m 202.716796875 596.1833984375 l s q 0 0 1 rg BT 113.00 597.52 Td (Competitive Strengths) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 582.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 581.1833984375 m 174.93359375 581.1833984375 l s q 0 0 1 rg BT 113.00 582.52 Td (Strategic Focus) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 567.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 566.1833984375 m 194.9140625 566.1833984375 l s q 0 0 1 rg BT 113.00 567.52 Td (Geographic Markets) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 552.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 551.1833984375 m 201.0419921875 551.1833984375 l s q 0 0 1 rg BT 113.00 552.52 Td (Agency Relationships) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 536.1833984375 m 159.103515625 536.1833984375 l s q 0 0 1 rg BT 113.00 537.52 Td (Seasonality) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 521.1833984375 m 163 521.1833984375 l s q 0 0 1 rg BT 113.00 522.52 Td (Competition) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 506.18339843750005 m 156.8818359375 506.18339843750005 l s q 0 0 1 rg BT 113.00 507.52 Td (Regulation) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 491.18339843750005 m 157.43359375 491.18339843750005 l s q 0 0 1 rg BT 113.00 492.52 Td (Employees) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 476.18339843750005 m 94.546875 476.18339843750005 l s q 0 0 1 rg BT 59.00 477.52 Td (Item1A.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 477.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 476.18339843750005 m 163.2783203125 476.18339843750005 l s q 0 0 1 rg BT 113.00 477.52 Td (Risk Factors) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 461.18339843750005 m 93.9951171875 461.18339843750005 l s q 0 0 1 rg BT 59.00 462.52 Td (Item1B.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 462.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 461.18339843750005 m 226.69140625 461.18339843750005 l s q 0 0 1 rg BT 113.00 462.52 Td (Unresolved Staf) Tj ET Q q 0 0 1 rg BT 177.53 462.52 Td (f Comments) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 446.18339843750005 m 87.3251953125 446.18339843750005 l s q 0 0 1 rg BT 59.00 447.52 Td (Item2.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 447.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 446.18339843750005 m 153.546875 446.18339843750005 l s q 0 0 1 rg BT 113.00 447.52 Td (Properties) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 431.18339843750005 m 87.3251953125 431.18339843750005 l s q 0 0 1 rg BT 59.00 432.52 Td (Item3.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 432.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 431.18339843750005 m 187.140625 431.18339843750005 l s q 0 0 1 rg BT 113.00 432.52 Td (Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 416.18339843750005 m 87.3251953125 416.18339843750005 l s q 0 0 1 rg BT 59.00 417.52 Td (Item4.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 417.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 416.18339843750005 m 211.3154296875 416.18339843750005 l s q 0 0 1 rg BT 113.00 417.52 Td (Mine Safety Disclosures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 397.18339843750005 m 92.0224609375 397.18339843750005 l s q 0 0 1 rg BT 59.00 398.52 Td (P) Tj ET Q q 0 0 1 rg BT 63.64 398.52 Td (AR) Tj ET Q q 0 0 1 rg BT 76.93 398.52 Td (T) Tj ET Q q 0 0 1 rg BT 82.86 398.52 Td ( II) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 1 rg BT 59.00 384.42 Td (Item5.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 372.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 381.18339843750005 m 521.2958984375 381.18339843750005 l s q 0 0 1 rg BT 113.00 382.52 Td (Market for Registrant's Common Equity) Tj ET Q q 0 0 1 rg BT 273.58 382.52 Td (, Related Stockholder Matters and Issuer Purchases of Equity ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 371.18339843750005 m 152.43359375 371.18339843750005 l s q 0 0 1 rg BT 113.00 372.52 Td (Securities) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 356.18339843750005 m 87.3251953125 356.18339843750005 l s q 0 0 1 rg BT 59.00 357.52 Td (Item7.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 357.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 356.18339843750005 m 470.314453125 356.18339843750005 l s q 0 0 1 rg BT 113.00 357.52 Td (Management's Discussion and ) Tj ET Q q 0 0 1 rg BT 236.17 357.52 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 341.18339843750005 m 87.3251953125 341.18339843750005 l s q 0 0 1 rg BT 59.00 342.52 Td (Item8.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 342.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 341.18339843750005 m 297.951171875 341.18339843750005 l s q 0 0 1 rg BT 113.00 342.52 Td (Financial Statements and Supplementary Data) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 326.18339843750005 m 87.3251953125 326.18339843750005 l s q 0 0 1 rg BT 59.00 327.52 Td (Item9.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 327.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 326.18339843750005 m 471.8134765625 326.18339843750005 l s q 0 0 1 rg BT 113.00 327.52 Td (Changes in and Disagreements with ) Tj ET Q q 0 0 1 rg BT 258.81 327.52 Td (Accountants on ) Tj ET Q q 0 0 1 rg BT 323.24 327.52 Td (Accounting and Financial Disclosure) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 311.18339843750005 m 94.546875 311.18339843750005 l s q 0 0 1 rg BT 59.00 312.52 Td (Item 9A.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.00 312.52 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 113 311.18339843750005 m 211.3154296875 311.18339843750005 l s q 0 0 1 rg BT 113.00 312.52 Td (Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 59 296.18339843750005 m 93.9951171875 296.18339843750005 l s q 0 0 1 rg BT 59.00 297.52 Td (Item9B.) 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670.25 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.59 658.25 Td (laws ) Tj ET Q q 0 0 0 rg BT 85.29 658.25 Td (of ) Tj ET Q q 0 0 0 rg BT 95.99 658.25 Td (the ) Tj ET Q q 0 0 0 rg BT 110.58 658.25 Td (Cayman ) Tj ET Q q 0 0 0 rg BT 146.28 658.25 Td (Islands. ) Tj ET Q q 0 0 0 rg BT 179.48 658.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 197.41 658.25 Td (core ) Tj ET Q q 0 0 0 rg BT 216.98 658.25 Td (business ) Tj ET Q q 0 0 0 rg BT 253.25 658.25 Td (is ) Tj ET Q q 0 0 0 rg BT 262.29 658.25 Td (the ) Tj ET Q q 0 0 0 rg BT 276.88 658.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 330.91 658.25 Td (of ) Tj ET Q q 0 0 0 rg BT 341.61 658.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 391.18 658.25 Td (automobile ) Tj ET Q q 0 0 0 rg BT 438.54 658.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 479.23 658.25 Td (policies, ) Tj ET Q q 0 0 0 rg BT 515.20 658.25 Td (focusing ) Tj ET Q q 0 0 0 rg BT 552.01 658.25 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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634.25 Td (American ) Tj ET Q q 0 0 0 rg BT 148.77 634.25 Td (Country) Tj ET Q q 0 0 0 rg BT 180.90 634.25 Td (, ) Tj ET Q q 0 0 0 rg BT 187.09 634.25 Td ( ) Tj ET Q q 0 0 0 rg BT 189.98 634.25 Td (American ) Tj ET Q q 0 0 0 rg BT 233.10 634.25 Td (Service ) Tj ET Q q 0 0 0 rg BT 266.78 634.25 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 309.35 634.25 Td (Company) Tj ET Q q 0 0 0 rg BT 347.58 634.25 Td (, ) Tj ET Q q 0 0 0 rg BT 353.78 634.25 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 375.25 634.25 Td (or ) Tj ET Q q 0 0 0 rg BT 386.46 634.25 Td (American ) Tj ET Q q 0 0 0 rg BT 429.58 634.25 Td (Service, ) Tj ET Q q 0 0 0 rg BT 465.76 634.25 Td (and ) Tj ET Q q 0 0 0 rg BT 483.90 634.25 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 523.13 634.25 Td (Insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 622.25 Td (, ) Tj ET Q q 0 0 0 rg BT 93.63 622.25 Td (or ) Tj ET Q q 0 0 0 rg BT 104.86 622.25 Td (Gateway) Tj ET Q q 0 0 0 rg BT 139.75 622.25 Td (, ) Tj ET Q q 0 0 0 rg BT 145.15 622.25 Td (which ) Tj ET Q q 0 0 0 rg BT 172.48 622.25 Td (collectively ) Tj ET Q q 0 0 0 rg BT 222.02 622.25 Td (we ) Tj ET Q q 0 0 0 rg BT 236.58 622.25 Td (refer ) Tj ET Q q 0 0 0 rg BT 258.35 622.25 Td (to ) Tj ET Q q 0 0 0 rg BT 269.02 622.25 Td (as ) Tj ET Q q 0 0 0 rg BT 280.25 622.25 Td (our ) Tj ET Q q 0 0 0 rg BT 296.47 622.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 342.13 622.25 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 398.97 622.25 Td (This ) Tj ET Q q 0 0 0 rg BT 419.64 622.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 460.86 622.25 Td (sector ) Tj ET Q q 0 0 0 rg BT 487.63 622.25 Td (includes ) Tj ET Q q 0 0 0 rg BT 523.85 622.25 Td (taxi ) Tj ET Q q 0 0 0 rg BT 541.74 622.25 Td (cabs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (non-emer) Tj ET Q q 0 0 0 rg BT 88.13 610.25 Td (gency ) Tj ET Q q 0 0 0 rg BT 113.57 610.25 Td (para-transit, ) Tj ET Q q 0 0 0 rg BT 163.15 610.25 Td (limousine, ) Tj ET Q q 0 0 0 rg BT 206.65 610.25 Td (livery ) Tj ET Q q 0 0 0 rg BT 231.53 610.25 Td (and ) Tj ET Q q 0 0 0 rg BT 247.52 610.25 Td (business ) Tj ET Q q 0 0 0 rg BT 282.97 610.25 Td (auto. ) Tj ET Q q 0 0 0 rg BT 304.24 610.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 321.34 610.25 Td (goal ) Tj ET Q q 0 0 0 rg BT 340.12 610.25 Td (is ) Tj ET Q q 0 0 0 rg BT 348.34 610.25 Td (to ) Tj ET Q q 0 0 0 rg BT 357.67 610.25 Td (be ) Tj ET Q q 0 0 0 rg BT 368.67 610.25 Td (the ) Tj ET Q q 0 0 0 rg BT 382.44 610.25 Td (preferred ) Tj ET Q q 0 0 0 rg BT 420.63 610.25 Td (specialty ) Tj ET Q q 0 0 0 rg BT 457.72 610.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 506.47 610.25 Td (transportation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (insurer ) Tj ET Q q 0 0 0 rg BT 80.27 598.25 Td (in ) Tj ET Q q 0 0 0 rg BT 90.55 598.25 Td (any ) Tj ET Q q 0 0 0 rg BT 107.49 598.25 Td (geographic ) Tj ET Q q 0 0 0 rg BT 154.41 598.25 Td (area ) Tj ET Q q 0 0 0 rg BT 173.55 598.25 Td (where ) Tj ET Q q 0 0 0 rg BT 200.48 598.25 Td (our ) Tj ET Q q 0 0 0 rg BT 216.31 598.25 Td (value ) Tj ET Q q 0 0 0 rg BT 240.47 598.25 Td (proposition ) Tj ET Q q 0 0 0 rg BT 288.53 598.25 Td (delivers ) Tj ET Q q 0 0 0 rg BT 322.68 598.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 352.94 598.25 Td (to ) Tj ET Q q 0 0 0 rg BT 363.22 598.25 Td (all ) Tj ET Q q 0 0 0 rg BT 375.72 598.25 Td (stakeholders. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 574.25 Td (e ) Tj ET Q q 0 0 0 rg BT 64.99 574.25 Td (were ) Tj ET Q q 0 0 0 rg BT 86.33 574.25 Td (originally ) Tj ET Q q 0 0 0 rg BT 127.12 574.25 Td (formed ) Tj ET Q q 0 0 0 rg BT 157.91 574.25 Td (as ) Tj ET Q q 0 0 0 rg BT 168.15 574.25 Td (JJR ) Tj ET Q q 0 0 0 rg BT 184.38 574.25 Td (VI, ) Tj ET Q q 0 0 0 rg BT 199.34 574.25 Td (a ) Tj ET Q q 0 0 0 rg BT 205.69 574.25 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 245.37 574.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 273.93 574.25 Td (pool ) Tj ET Q q 0 0 0 rg BT 293.62 574.25 Td (company) Tj ET Q q 0 0 0 rg BT 329.63 574.25 Td (, ) Tj ET Q q 0 0 0 rg BT 334.04 574.25 Td (on ) Tj ET Q q 0 0 0 rg BT 345.95 574.25 Td (December ) Tj ET Q q 0 0 0 rg BT 388.94 574.25 Td (21, ) Tj ET Q q 0 0 0 rg BT 403.36 574.25 Td (2009 ) Tj ET Q q 0 0 0 rg BT 425.27 574.25 Td (under ) Tj ET Q q 0 0 0 rg BT 449.95 574.25 Td (the ) Tj ET Q q 0 0 0 rg BT 464.08 574.25 Td (laws ) Tj ET Q q 0 0 0 rg BT 484.32 574.25 Td (of ) Tj ET Q q 0 0 0 rg BT 494.56 574.25 Td (Ontario, ) Tj ET Q q 0 0 0 rg BT 529.52 574.25 Td (Canada. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (On ) Tj ET Q q 0 0 0 rg BT 65.04 562.25 Td (December ) Tj ET Q q 0 0 0 rg BT 108.94 562.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 124.25 562.25 Td (2010, ) Tj ET Q q 0 0 0 rg BT 149.57 562.25 Td (we ) Tj ET Q q 0 0 0 rg BT 164.04 562.25 Td (completed ) Tj ET Q q 0 0 0 rg BT 208.51 562.25 Td (a ) Tj ET Q q 0 0 0 rg BT 215.76 562.25 Td (reverse ) Tj ET Q q 0 0 0 rg BT 247.44 562.25 Td (mer) Tj ET Q q 0 0 0 rg BT 262.81 562.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 278.39 562.25 Td (wherein ) Tj ET Q q 0 0 0 rg BT 312.79 562.25 Td (American ) Tj ET Q q 0 0 0 rg BT 355.03 562.25 Td (Service ) Tj ET Q q 0 0 0 rg BT 387.83 562.25 Td (and ) Tj ET Q q 0 0 0 rg BT 404.46 562.25 Td (American ) Tj ET Q q 0 0 0 rg BT 446.70 562.25 Td (Country) Tj ET Q q 0 0 0 rg BT 478.83 562.25 Td (, ) Tj ET Q q 0 0 0 rg BT 484.15 562.25 Td (in ) Tj ET Q q 0 0 0 rg BT 494.74 562.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 535.31 562.25 Td (for ) Tj ET Q q 0 0 0 rg BT 549.78 562.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (consideration ) Tj ET Q q 0 0 0 rg BT 106.37 550.25 Td (set ) Tj ET Q q 0 0 0 rg BT 119.97 550.25 Td (out ) Tj ET Q q 0 0 0 rg BT 135.24 550.25 Td (below) Tj ET Q q 0 0 0 rg BT 159.03 550.25 Td (, ) Tj ET Q q 0 0 0 rg BT 164.02 550.25 Td (were ) Tj ET Q q 0 0 0 rg BT 185.95 550.25 Td (transferred ) Tj ET Q q 0 0 0 rg BT 231.75 550.25 Td (to ) Tj ET Q q 0 0 0 rg BT 242.02 550.25 Td (us ) Tj ET Q q 0 0 0 rg BT 253.41 550.25 Td (by ) Tj ET Q q 0 0 0 rg BT 265.90 550.25 Td (Kingsway ) Tj ET Q q 0 0 0 rg BT 308.39 550.25 Td (America ) Tj ET Q q 0 0 0 rg BT 345.31 550.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 363.08 550.25 Td (\("KAI"\), ) Tj ET Q q 0 0 0 rg BT 400.67 550.25 Td (a ) Tj ET Q q 0 0 0 rg BT 407.60 550.25 Td (wholly ) Tj ET Q q 0 0 0 rg BT 437.87 550.25 Td (owned ) Tj ET Q q 0 0 0 rg BT 467.03 550.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 510.63 550.25 Td (of ) Tj ET Q q 0 0 0 rg BT 521.45 550.25 Td (Kingsway ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 91.05 538.25 Td (Services ) Tj ET Q q 0 0 0 rg BT 128.76 538.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 147.86 538.25 Td (\("KFSI"\) ) Tj ET Q q 0 0 0 rg BT 188.19 538.25 Td (a ) Tj ET Q q 0 0 0 rg BT 196.47 538.25 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 238.07 538.25 Td (public ) Tj ET Q q 0 0 0 rg BT 266.90 538.25 Td (company ) Tj ET Q q 0 0 0 rg BT 307.38 538.25 Td (whose ) Tj ET Q q 0 0 0 rg BT 336.77 538.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 365.60 538.25 Td (are ) Tj ET Q q 0 0 0 rg BT 381.64 538.25 Td (traded ) Tj ET Q q 0 0 0 rg BT 410.46 538.25 Td (on ) Tj ET Q q 0 0 0 rg BT 424.29 538.25 Td (the ) Tj ET Q q 0 0 0 rg BT 440.07 538.25 Td (T) Tj ET Q q 0 0 0 rg BT 445.48 538.25 Td (oronto ) Tj ET Q q 0 0 0 rg BT 475.42 538.25 Td (and ) Tj ET Q q 0 0 0 rg BT 493.69 538.25 Td (New ) Tj ET Q q 0 0 0 rg BT 515.84 538.25 Td (Y) Tj ET Q q 0 0 0 rg BT 522.06 538.25 Td (ork ) Tj ET Q q 0 0 0 rg BT 539.22 538.25 Td (Stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (Exchanges. ) Tj ET Q q 0 0 0 rg BT 97.94 526.25 Td (Prior ) Tj ET Q q 0 0 0 rg BT 120.06 526.25 Td (to ) Tj ET Q q 0 0 0 rg BT 129.96 526.25 Td (the ) Tj ET Q q 0 0 0 rg BT 144.30 526.25 Td (transaction, ) Tj ET Q q 0 0 0 rg BT 192.79 526.25 Td ( ) Tj ET Q q 0 0 0 rg BT 194.44 526.25 Td (American ) Tj ET Q q 0 0 0 rg BT 235.99 526.25 Td (Service ) Tj ET Q q 0 0 0 rg BT 268.10 526.25 Td (and ) Tj ET Q q 0 0 0 rg BT 284.19 526.25 Td (American ) Tj ET Q q 0 0 0 rg BT 325.73 526.25 Td (Country ) Tj ET Q q 0 0 0 rg BT 360.63 526.25 Td (were ) Tj ET Q q 0 0 0 rg BT 382.18 526.25 Td (wholly ) Tj ET Q q 0 0 0 rg BT 412.08 526.25 Td (owned ) Tj ET Q q 0 0 0 rg BT 440.87 526.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 490.20 526.25 Td (of ) Tj ET Q q 0 0 0 rg BT 500.66 526.25 Td (KAI. ) Tj ET Q q 0 0 0 rg BT 522.58 526.25 Td (American ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (Country ) Tj ET Q q 0 0 0 rg BT 85.05 514.25 Td (commenced ) Tj ET Q q 0 0 0 rg BT 135.63 514.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 179.56 514.25 Td (in ) Tj ET Q q 0 0 0 rg BT 189.61 514.25 Td (1979. ) Tj ET Q q 0 0 0 rg BT 214.22 514.25 Td (W) Tj ET Q q 0 0 0 rg BT 223.26 514.25 Td (ith ) Tj ET Q q 0 0 0 rg BT 236.09 514.25 Td (roots ) Tj ET Q q 0 0 0 rg BT 258.36 514.25 Td (dating ) Tj ET Q q 0 0 0 rg BT 285.63 514.25 Td (back ) Tj ET Q q 0 0 0 rg BT 306.78 514.25 Td (to ) Tj ET Q q 0 0 0 rg BT 316.83 514.25 Td (1925 ) Tj ET Q q 0 0 0 rg BT 339.11 514.25 Td (selling ) Tj ET Q q 0 0 0 rg BT 368.04 514.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 408.63 514.25 Td (for ) Tj ET Q q 0 0 0 rg BT 422.57 514.25 Td (taxi ) Tj ET Q q 0 0 0 rg BT 439.83 514.25 Td (cabs, ) Tj ET Q q 0 0 0 rg BT 461.87 514.25 Td (American ) Tj ET Q q 0 0 0 rg BT 503.57 514.25 Td (Country ) Tj ET Q q 0 0 0 rg BT 538.62 514.25 Td (is ) Tj ET Q q 0 0 0 rg BT 547.56 514.25 Td (one ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.06 502.25 Td (the ) Tj ET Q q 0 0 0 rg BT 74.02 502.25 Td (oldest ) Tj ET Q q 0 0 0 rg BT 99.64 502.25 Td (insurers ) Tj ET Q q 0 0 0 rg BT 133.03 502.25 Td (of ) Tj ET Q q 0 0 0 rg BT 143.10 502.25 Td (taxi ) Tj ET Q q 0 0 0 rg BT 159.83 502.25 Td (and ) Tj ET Q q 0 0 0 rg BT 176.00 502.25 Td (livery ) Tj ET Q q 0 0 0 rg BT 201.06 502.25 Td (businesses ) Tj ET Q q 0 0 0 rg BT 245.02 502.25 Td (in ) Tj ET Q q 0 0 0 rg BT 254.53 502.25 Td (the ) Tj ET Q q 0 0 0 rg BT 268.48 502.25 Td (United ) Tj ET Q q 0 0 0 rg BT 297.43 502.25 Td (States. ) Tj ET Q q 0 0 0 rg BT 325.56 502.25 Td (In ) Tj ET Q q 0 0 0 rg BT 335.62 502.25 Td (1983, ) Tj ET Q q 0 0 0 rg BT 359.47 502.25 Td (American ) Tj ET Q q 0 0 0 rg BT 400.63 502.25 Td (Service ) Tj ET Q q 0 0 0 rg BT 432.35 502.25 Td (began ) Tj ET Q q 0 0 0 rg BT 457.96 502.25 Td (as ) Tj ET Q q 0 0 0 rg BT 468.03 502.25 Td (a ) Tj ET Q q 0 0 0 rg BT 474.20 502.25 Td (non-standard ) Tj ET Q q 0 0 0 rg BT 528.14 502.25 Td (personal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 490.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 116.64 490.25 Td (auto ) Tj ET Q q 0 0 0 rg BT 136.35 490.25 Td (insurer ) Tj ET Q q 0 0 0 rg BT 166.62 490.25 Td (writing ) Tj ET Q q 0 0 0 rg BT 198.01 490.25 Td (business ) Tj ET Q q 0 0 0 rg BT 234.40 490.25 Td (in ) Tj ET Q q 0 0 0 rg BT 244.68 490.25 Td (the ) Tj ET Q q 0 0 0 rg BT 259.39 490.25 Td (Chicago, ) Tj ET Q q 0 0 0 rg BT 297.72 490.25 Td (Illinois ) Tj ET Q q 0 0 0 rg BT 328.55 490.25 Td (area.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (On ) Tj ET Q q 0 0 0 rg BT 66.02 466.25 Td (December ) Tj ET Q q 0 0 0 rg BT 110.91 466.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 127.21 466.25 Td (2010, ) Tj ET Q q 0 0 0 rg BT 153.52 466.25 Td (following ) Tj ET Q q 0 0 0 rg BT 196.21 466.25 Td (the ) Tj ET Q q 0 0 0 rg BT 212.23 466.25 Td (reverse ) Tj ET Q q 0 0 0 rg BT 244.90 466.25 Td (mer) Tj ET Q q 0 0 0 rg BT 260.26 466.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 276.83 466.25 Td (transaction ) Tj ET Q q 0 0 0 rg BT 324.51 466.25 Td (described ) Tj ET Q q 0 0 0 rg BT 366.63 466.25 Td (immediately ) Tj ET Q q 0 0 0 rg BT 420.41 466.25 Td (hereafter) Tj ET Q q 0 0 0 rg BT 455.54 466.25 Td (, ) Tj ET Q q 0 0 0 rg BT 461.84 466.25 Td (we ) Tj ET Q q 0 0 0 rg BT 477.30 466.25 Td (filed ) Tj ET Q q 0 0 0 rg BT 499.43 466.25 Td (a ) Tj ET Q q 0 0 0 rg BT 507.67 466.25 Td (Certificate ) Tj ET Q q 0 0 0 rg BT 553.67 466.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (Registration ) Tj ET Q q 0 0 0 rg BT 102.04 454.25 Td (by ) Tj ET Q q 0 0 0 rg BT 114.96 454.25 Td (W) Tj ET Q q 0 0 0 rg BT 123.60 454.25 Td (ay ) Tj ET Q q 0 0 0 rg BT 136.19 454.25 Td (of ) Tj ET Q q 0 0 0 rg BT 147.67 454.25 Td (Continuation ) Tj ET Q q 0 0 0 rg BT 203.05 454.25 Td (in ) Tj ET Q q 0 0 0 rg BT 213.98 454.25 Td (the ) Tj ET Q q 0 0 0 rg BT 229.35 454.25 Td (Cayman ) Tj ET Q q 0 0 0 rg BT 265.83 454.25 Td (Islands ) Tj ET Q q 0 0 0 rg BT 297.31 454.25 Td (to ) Tj ET Q q 0 0 0 rg BT 308.24 454.25 Td (re-domesticate ) Tj ET Q q 0 0 0 rg BT 370.25 454.25 Td (as ) Tj ET Q q 0 0 0 rg BT 381.74 454.25 Td (a ) Tj ET Q q 0 0 0 rg BT 389.33 454.25 Td (Cayman ) Tj ET Q q 0 0 0 rg BT 425.81 454.25 Td (Islands ) Tj ET Q q 0 0 0 rg BT 457.29 454.25 Td (company) Tj ET Q q 0 0 0 rg BT 493.30 454.25 Td (. ) Tj ET Q q 0 0 0 rg BT 498.95 454.25 Td ( ) Tj ET Q q 0 0 0 rg BT 502.10 454.25 Td (In ) Tj ET Q q 0 0 0 rg BT 513.59 454.25 Td (addition, ) Tj ET Q q 0 0 0 rg BT 552.01 454.25 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (December ) Tj ET Q q 0 0 0 rg BT 93.61 442.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 108.64 442.25 Td (2010 ) Tj ET Q q 0 0 0 rg BT 131.16 442.25 Td (we ) Tj ET Q q 0 0 0 rg BT 145.35 442.25 Td (filed ) Tj ET Q q 0 0 0 rg BT 166.20 442.25 Td (a ) Tj ET Q q 0 0 0 rg BT 173.16 442.25 Td (Certificate ) Tj ET Q q 0 0 0 rg BT 217.89 442.25 Td (of ) Tj ET Q q 0 0 0 rg BT 228.74 442.25 Td (Incorporation ) Tj ET Q q 0 0 0 rg BT 285.69 442.25 Td (on ) Tj ET Q q 0 0 0 rg BT 298.22 442.25 Td (Change ) Tj ET Q q 0 0 0 rg BT 331.29 442.25 Td (of ) Tj ET Q q 0 0 0 rg BT 342.15 442.25 Td (Name ) Tj ET Q q 0 0 0 rg BT 368.55 442.25 Td (to ) Tj ET Q q 0 0 0 rg BT 378.85 442.25 Td (change ) Tj ET Q q 0 0 0 rg BT 409.69 442.25 Td (our ) Tj ET Q q 0 0 0 rg BT 425.55 442.25 Td (name ) Tj ET Q q 0 0 0 rg BT 449.73 442.25 Td (to ) Tj ET Q q 0 0 0 rg BT 459.48 442.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 483.11 442.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 522.85 442.25 Td (Holdings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 67.77 430.25 Td ( ) Tj ET Q q 0 0 0 rg BT 70.27 430.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 88.32 430.25 Td (current ) Tj ET Q q 0 0 0 rg BT 119.14 430.25 Td (or) Tj ET Q q 0 0 0 rg BT 127.29 430.25 Td (ganization ) Tj ET Q q 0 0 0 rg BT 171.44 430.25 Td (is ) Tj ET Q q 0 0 0 rg BT 180.61 430.25 Td (a ) Tj ET Q q 0 0 0 rg BT 187.54 430.25 Td (result ) Tj ET Q q 0 0 0 rg BT 212.26 430.25 Td (of ) Tj ET Q q 0 0 0 rg BT 223.09 430.25 Td (a ) Tj ET Q q 0 0 0 rg BT 230.03 430.25 Td (reverse ) Tj ET Q q 0 0 0 rg BT 261.40 430.25 Td (mer) Tj ET Q q 0 0 0 rg BT 276.76 430.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 292.03 430.25 Td (transaction ) Tj ET Q q 0 0 0 rg BT 338.40 430.25 Td (involving ) Tj ET Q q 0 0 0 rg BT 379.24 430.25 Td (the ) Tj ET Q q 0 0 0 rg BT 393.96 430.25 Td (following ) Tj ET Q q 0 0 0 rg BT 435.34 430.25 Td (companies: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.25 Td (JJR ) Tj ET Q q 0 0 0 rg BT 102.77 406.25 Td (VI, ) Tj ET Q q 0 0 0 rg BT 118.32 406.25 Td (sponsored ) Tj ET Q q 0 0 0 rg BT 161.38 406.25 Td (by ) Tj ET Q q 0 0 0 rg BT 173.88 406.25 Td (JJR ) Tj ET Q q 0 0 0 rg BT 190.83 406.25 Td (Capital, ) Tj ET Q q 0 0 0 rg BT 224.71 406.25 Td (a ) Tj ET Q q 0 0 0 rg BT 231.47 406.25 Td (T) Tj ET Q q 0 0 0 rg BT 236.88 406.25 Td (oronto ) Tj ET Q q 0 0 0 rg BT 265.49 406.25 Td (based ) Tj ET Q q 0 0 0 rg BT 290.76 406.25 Td (merchant ) Tj ET Q q 0 0 0 rg BT 330.46 406.25 Td (bank;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 382.25 Td (American ) Tj ET Q q 0 0 0 rg BT 128.31 382.25 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 169.42 382.25 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 218.97 382.25 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 239.62 382.25 Td (or ) Tj ET Q q 0 0 0 rg BT 250.20 382.25 Td (American ) Tj ET Q q 0 0 0 rg BT 291.87 382.25 Td (Acquisition, ) Tj ET Q q 0 0 0 rg BT 343.92 382.25 Td (a ) Tj ET Q q 0 0 0 rg BT 351.24 382.25 Td (corporation ) Tj ET Q q 0 0 0 rg BT 400.22 382.25 Td (formed ) Tj ET Q q 0 0 0 rg BT 431.98 382.25 Td (under ) Tj ET Q q 0 0 0 rg BT 457.63 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 472.73 382.25 Td (laws ) Tj ET Q q 0 0 0 rg BT 493.94 382.25 Td (of ) Tj ET Q q 0 0 0 rg BT 505.16 382.25 Td (Delaware ) Tj ET Q q 0 0 0 rg BT 546.34 382.25 Td (as ) Tj ET Q q 0 0 0 rg BT 557.56 382.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 370.25 Td (wholly ) Tj ET Q q 0 0 0 rg BT 116.28 370.25 Td (owned ) Tj ET Q q 0 0 0 rg BT 145.44 370.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 189.05 370.25 Td (of ) Tj ET Q q 0 0 0 rg BT 199.88 370.25 Td (KAI; ) Tj ET Q q 0 0 0 rg BT 222.93 370.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (\(c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 109.14 346.25 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 158.41 346.25 Td (Corp., ) Tj ET Q q 0 0 0 rg BT 186.01 346.25 Td (a ) Tj ET Q q 0 0 0 rg BT 193.06 346.25 Td (Delaware ) Tj ET Q q 0 0 0 rg BT 233.97 346.25 Td (corporation ) Tj ET Q q 0 0 0 rg BT 282.67 346.25 Td (wholly-owned ) Tj ET Q q 0 0 0 rg BT 343.04 346.25 Td (by ) Tj ET Q q 0 0 0 rg BT 355.65 346.25 Td (JJR ) Tj ET Q q 0 0 0 rg BT 372.51 346.25 Td (VI ) Tj ET Q q 0 0 0 rg BT 385.67 346.25 Td (and ) Tj ET Q q 0 0 0 rg BT 402.71 346.25 Td (formed ) Tj ET Q q 0 0 0 rg BT 434.20 346.25 Td (for ) Tj ET Q q 0 0 0 rg BT 448.46 346.25 Td (the ) Tj ET Q q 0 0 0 rg BT 463.28 346.25 Td (purpose ) Tj ET Q q 0 0 0 rg BT 497.55 346.25 Td (of ) Tj ET Q q 0 0 0 rg BT 508.48 346.25 Td (mer) Tj ET Q q 0 0 0 rg BT 523.85 346.25 Td (ging ) Tj ET Q q 0 0 0 rg BT 544.23 346.25 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 334.25 Td (and ) Tj ET Q q 0 0 0 rg BT 102.94 334.25 Td (into ) Tj ET Q q 0 0 0 rg BT 120.44 334.25 Td (American ) Tj ET Q q 0 0 0 rg BT 161.82 334.25 Td (Acquisition. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (In ) Tj ET Q q 0 0 0 rg BT 61.25 310.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 108.05 310.25 Td (with ) Tj ET Q q 0 0 0 rg BT 128.75 310.25 Td (the ) Tj ET Q q 0 0 0 rg BT 143.89 310.25 Td (reverse ) Tj ET Q q 0 0 0 rg BT 175.68 310.25 Td (mer) Tj ET Q q 0 0 0 rg BT 191.05 310.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 206.74 310.25 Td (transaction, ) Tj ET Q q 0 0 0 rg BT 256.04 310.25 Td (KAI ) Tj ET Q q 0 0 0 rg BT 276.74 310.25 Td (transferred ) Tj ET Q q 0 0 0 rg BT 322.96 310.25 Td (100% ) Tj ET Q q 0 0 0 rg BT 349.22 310.25 Td (of ) Tj ET Q q 0 0 0 rg BT 360.47 310.25 Td (the ) Tj ET Q q 0 0 0 rg BT 375.61 310.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 405.19 310.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 429.22 310.25 Td (of ) Tj ET Q q 0 0 0 rg BT 440.47 310.25 Td (each ) Tj ET Q q 0 0 0 rg BT 461.71 310.25 Td (of ) Tj ET Q q 0 0 0 rg BT 472.32 310.25 Td (American ) Tj ET Q q 0 0 0 rg BT 514.67 310.25 Td (Service ) Tj ET Q q 0 0 0 rg BT 547.58 310.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (American ) Tj ET Q q 0 0 0 rg BT 91.48 298.25 Td (Country ) Tj ET Q q 0 0 0 rg BT 126.32 298.25 Td (to ) Tj ET Q q 0 0 0 rg BT 135.70 298.25 Td (American ) Tj ET Q q 0 0 0 rg BT 176.72 298.25 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 225.45 298.25 Td (\(another ) Tj ET Q q 0 0 0 rg BT 260.82 298.25 Td (wholly ) Tj ET Q q 0 0 0 rg BT 290.65 298.25 Td (owed ) Tj ET Q q 0 0 0 rg BT 314.37 298.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 357.54 298.25 Td (of ) Tj ET Q q 0 0 0 rg BT 367.92 298.25 Td (KAI\) ) Tj ET Q q 0 0 0 rg BT 391.09 298.25 Td (in ) Tj ET Q q 0 0 0 rg BT 400.92 298.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 440.73 298.25 Td (for ) Tj ET Q q 0 0 0 rg BT 454.45 298.25 Td (C$35.1 ) Tj ET Q q 0 0 0 rg BT 485.68 298.25 Td (million ) Tj ET Q q 0 0 0 rg BT 516.63 298.25 Td (of ) Tj ET Q q 0 0 0 rg BT 527.01 298.25 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 78.22 286.25 Td (and ) Tj ET Q q 0 0 0 rg BT 95.88 286.25 Td ($18.0 ) Tj ET Q q 0 0 0 rg BT 121.60 286.25 Td (million ) Tj ET Q q 0 0 0 rg BT 153.72 286.25 Td (of ) Tj ET Q q 0 0 0 rg BT 165.28 286.25 Td (preferred ) Tj ET Q q 0 0 0 rg BT 205.14 286.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 233.35 286.25 Td (of ) Tj ET Q q 0 0 0 rg BT 244.20 286.25 Td (American ) Tj ET Q q 0 0 0 rg BT 286.13 286.25 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 336.02 286.25 Td (and ) Tj ET Q q 0 0 0 rg BT 353.69 286.25 Td (promissory ) Tj ET Q q 0 0 0 rg BT 401.91 286.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 426.24 286.25 Td (worth ) Tj ET Q q 0 0 0 rg BT 452.80 286.25 Td (C$7.7 ) Tj ET Q q 0 0 0 rg BT 480.19 286.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 514.81 286.25 Td (aggregating ) Tj ET Q q 0 0 0 rg BT 564.51 286.25 Td ( ) Tj ET Q q 0 0 0 rg BT 567.01 286.25 Td ( ) Tj ET Q q 0 0 0 rg BT 569.51 286.25 Td ( ) Tj ET Q q 0 0 0 rg BT 572.01 286.25 Td ( ) Tj ET Q q 0 0 0 rg BT 574.51 286.25 Td ( ) Tj ET Q q 0 0 0 rg BT 577.01 286.25 Td ( ) Tj ET Q q 0 0 0 rg BT 579.51 286.25 Td ( ) Tj ET Q q 0 0 0 rg BT 582.01 286.25 Td ( ) Tj ET Q q 0 0 0 rg BT 584.51 286.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (C$60.8 ) Tj ET Q q 0 0 0 rg BT 82.68 274.25 Td (million. ) Tj ET Q q 0 0 0 rg BT 117.59 274.25 Td (In ) Tj ET Q q 0 0 0 rg BT 129.44 274.25 Td (addition, ) Tj ET Q q 0 0 0 rg BT 167.45 274.25 Td (American ) Tj ET Q q 0 0 0 rg BT 209.61 274.25 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 259.79 274.25 Td (raised ) Tj ET Q q 0 0 0 rg BT 287.18 274.25 Td (C$8.0 ) Tj ET Q q 0 0 0 rg BT 314.87 274.25 Td (million ) Tj ET Q q 0 0 0 rg BT 347.27 274.25 Td (through ) Tj ET Q q 0 0 0 rg BT 381.90 274.25 Td (a ) Tj ET Q q 0 0 0 rg BT 389.85 274.25 Td (private ) Tj ET Q q 0 0 0 rg BT 421.13 274.25 Td (placement ) Tj ET Q q 0 0 0 rg BT 465.73 274.25 Td (of) Tj ET Q q 0 0 0 rg BT 473.88 274.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 501.27 274.25 Td (of ) Tj ET Q q 0 0 0 rg BT 513.12 274.25 Td (subscription ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (receipts ) Tj ET Q q 0 0 0 rg BT 83.59 262.25 Td (to ) Tj ET Q q 0 0 0 rg BT 93.87 262.25 Td (qualified ) Tj ET Q q 0 0 0 rg BT 131.91 262.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 170.52 262.25 Td (in ) Tj ET Q q 0 0 0 rg BT 180.80 262.25 Td (both ) Tj ET Q q 0 0 0 rg BT 201.08 262.25 Td (the ) Tj ET Q q 0 0 0 rg BT 215.80 262.25 Td (United ) Tj ET Q q 0 0 0 rg BT 245.51 262.25 Td (States ) Tj ET Q q 0 0 0 rg BT 271.90 262.25 Td (and ) Tj ET Q q 0 0 0 rg BT 288.84 262.25 Td (Canada ) Tj ET Q q 0 0 0 rg BT 321.32 262.25 Td (at ) Tj ET Q q 0 0 0 rg BT 331.04 262.25 Td (a ) Tj ET Q q 0 0 0 rg BT 337.98 262.25 Td (price ) Tj ET Q q 0 0 0 rg BT 360.46 262.25 Td (of ) Tj ET Q q 0 0 0 rg BT 371.29 262.25 Td (C$6.00 ) Tj ET Q q 0 0 0 rg BT 402.96 262.25 Td (per ) Tj ET Q q 0 0 0 rg BT 418.23 262.25 Td (subscription ) Tj ET Q q 0 0 0 rg BT 469.62 262.25 Td (receipt.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (KAI ) Tj ET Q q 0 0 0 rg BT 70.55 238.25 Td (received ) Tj ET Q q 0 0 0 rg BT 107.20 238.25 Td (4,601,621 ) Tj ET Q q 0 0 0 rg BT 149.98 238.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 189.96 238.25 Td (voting ) Tj ET Q q 0 0 0 rg BT 218.29 238.25 Td (common ) Tj ET Q q 0 0 0 rg BT 256.07 238.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 283.84 238.25 Td (of ) Tj ET Q q 0 0 0 rg BT 294.95 238.25 Td (our ) Tj ET Q q 0 0 0 rg BT 311.06 238.25 Td (company) Tj ET Q q 0 0 0 rg BT 347.06 238.25 Td (, ) Tj ET Q q 0 0 0 rg BT 352.34 238.25 Td (which ) Tj ET Q q 0 0 0 rg BT 379.56 238.25 Td (we ) Tj ET Q q 0 0 0 rg BT 394.00 238.25 Td (refer ) Tj ET Q q 0 0 0 rg BT 415.65 238.25 Td (to ) Tj ET Q q 0 0 0 rg BT 426.21 238.25 Td (as ) Tj ET Q q 0 0 0 rg BT 437.32 238.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 481.74 238.25 Td (voting ) Tj ET Q q 0 0 0 rg BT 510.07 238.25 Td (shares, ) Tj ET Q q 0 0 0 rg BT 544.78 238.25 Td (then ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (valued ) Tj ET Q q 0 0 0 rg BT 79.66 226.25 Td (at ) Tj ET Q q 0 0 0 rg BT 89.89 226.25 Td ($27.8 ) Tj ET Q q 0 0 0 rg BT 115.40 226.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 149.79 226.25 Td (along ) Tj ET Q q 0 0 0 rg BT 175.02 226.25 Td (with ) Tj ET Q q 0 0 0 rg BT 195.81 226.25 Td (18,000,000 ) Tj ET Q q 0 0 0 rg BT 243.81 226.25 Td (non-voting ) Tj ET Q q 0 0 0 rg BT 290.71 226.25 Td (preferred ) Tj ET Q q 0 0 0 rg BT 330.35 226.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 358.35 226.25 Td (of ) Tj ET Q q 0 0 0 rg BT 369.69 226.25 Td (our ) Tj ET Q q 0 0 0 rg BT 386.03 226.25 Td (company) Tj ET Q q 0 0 0 rg BT 422.03 226.25 Td (, ) Tj ET Q q 0 0 0 rg BT 427.54 226.25 Td (then ) Tj ET Q q 0 0 0 rg BT 447.76 226.25 Td (valued ) Tj ET Q q 0 0 0 rg BT 477.43 226.25 Td (at ) Tj ET Q q 0 0 0 rg BT 487.65 226.25 Td ($18.0 ) Tj ET Q q 0 0 0 rg BT 513.16 226.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 547.56 226.25 Td (and ) Tj ET Q q 0 0 0 rg BT 564.50 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 567.00 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 569.50 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 572.00 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 574.50 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 577.00 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 579.50 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 582.00 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 584.50 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 587.00 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 589.50 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 592.00 226.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (C$8.0 ) Tj ET Q q 0 0 0 rg BT 75.48 214.25 Td (million ) Tj ET Q q 0 0 0 rg BT 105.68 214.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 124.76 214.25 Td (for ) Tj ET Q q 0 0 0 rg BT 137.73 214.25 Td (total ) Tj ET Q q 0 0 0 rg BT 156.82 214.25 Td (consideration ) Tj ET Q q 0 0 0 rg BT 212.00 214.25 Td (of ) Tj ET Q q 0 0 0 rg BT 221.64 214.25 Td (C$60.8 ) Tj ET Q q 0 0 0 rg BT 252.12 214.25 Td (million ) Tj ET Q q 0 0 0 rg BT 282.33 214.25 Td (in ) Tj ET Q q 0 0 0 rg BT 291.42 214.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 330.48 214.25 Td (for ) Tj ET Q q 0 0 0 rg BT 343.45 214.25 Td (100% ) Tj ET Q q 0 0 0 rg BT 368.09 214.25 Td (of ) Tj ET Q q 0 0 0 rg BT 377.73 214.25 Td (the ) Tj ET Q q 0 0 0 rg BT 391.26 214.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 439.24 214.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 465.54 214.25 Td (of ) Tj ET Q q 0 0 0 rg BT 474.89 214.25 Td (American ) Tj ET Q q 0 0 0 rg BT 515.34 214.25 Td (Acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (and ) Tj ET Q q 0 0 0 rg BT 67.28 202.25 Td (full ) Tj ET Q q 0 0 0 rg BT 84.02 202.25 Td (payment ) Tj ET Q q 0 0 0 rg BT 121.30 202.25 Td (of ) Tj ET Q q 0 0 0 rg BT 132.47 202.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 162.52 202.25 Td (promissory ) Tj ET Q q 0 0 0 rg BT 210.37 202.25 Td (notes. ) Tj ET Q q 0 0 0 rg BT 236.82 202.25 Td (Investors ) Tj ET Q q 0 0 0 rg BT 276.33 202.25 Td (in ) Tj ET Q q 0 0 0 rg BT 286.95 202.25 Td (the ) Tj ET Q q 0 0 0 rg BT 301.38 202.25 Td (American ) Tj ET Q q 0 0 0 rg BT 343.02 202.25 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 392.54 202.25 Td (private ) Tj ET Q q 0 0 0 rg BT 423.14 202.25 Td (placement ) Tj ET Q q 0 0 0 rg BT 467.08 202.25 Td (of) Tj ET Q q 0 0 0 rg BT 475.23 202.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 501.95 202.25 Td (of ) Tj ET Q q 0 0 0 rg BT 513.13 202.25 Td (subscription ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (receipts ) Tj ET Q q 0 0 0 rg BT 83.14 190.25 Td (received ) Tj ET Q q 0 0 0 rg BT 119.05 190.25 Td (1,327,834 ) Tj ET Q q 0 0 0 rg BT 161.09 190.25 Td (of ) Tj ET Q q 0 0 0 rg BT 171.47 190.25 Td (our ) Tj ET Q q 0 0 0 rg BT 186.84 190.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 222.76 190.25 Td (common ) Tj ET Q q 0 0 0 rg BT 259.80 190.25 Td (shares, ) Tj ET Q q 0 0 0 rg BT 289.34 190.25 Td (which ) Tj ET Q q 0 0 0 rg BT 315.82 190.25 Td (we ) Tj ET Q q 0 0 0 rg BT 329.53 190.25 Td (refer ) Tj ET Q q 0 0 0 rg BT 350.44 190.25 Td (to ) Tj ET Q q 0 0 0 rg BT 360.26 190.25 Td (as ) Tj ET Q q 0 0 0 rg BT 370.64 190.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 411.00 190.25 Td (shares, ) Tj ET Q q 0 0 0 rg BT 444.97 190.25 Td (plus ) Tj ET Q q 0 0 0 rg BT 463.69 190.25 Td (warrants ) Tj ET Q q 0 0 0 rg BT 500.16 190.25 Td (to ) Tj ET Q q 0 0 0 rg BT 509.98 190.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 547.56 190.25 Td (one ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 86.43 178.25 Td (share ) Tj ET Q q 0 0 0 rg BT 110.08 178.25 Td (of ) Tj ET Q q 0 0 0 rg BT 120.96 178.25 Td (our ) Tj ET Q q 0 0 0 rg BT 136.84 178.25 Td (company ) Tj ET Q q 0 0 0 rg BT 176.04 178.25 Td (for ) Tj ET Q q 0 0 0 rg BT 190.25 178.25 Td (each ) Tj ET Q q 0 0 0 rg BT 211.12 178.25 Td (subscription ) Tj ET Q q 0 0 0 rg BT 262.56 178.25 Td (receipt ) Tj ET Q q 0 0 0 rg BT 292.31 178.25 Td (at ) Tj ET Q q 0 0 0 rg BT 302.08 178.25 Td (C$6.00 ) Tj ET Q q 0 0 0 rg BT 333.80 178.25 Td (at ) Tj ET Q q 0 0 0 rg BT 343.56 178.25 Td (any ) Tj ET Q q 0 0 0 rg BT 360.55 178.25 Td (time ) Tj ET Q q 0 0 0 rg BT 380.88 178.25 Td (until ) Tj ET Q q 0 0 0 rg BT 401.76 178.25 Td (December ) Tj ET Q q 0 0 0 rg BT 445.39 178.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 460.44 178.25 Td (2013. ) Tj ET Q q 0 0 0 rg BT 485.50 178.25 Td ( ) Tj ET Q q 0 0 0 rg BT 488.05 178.25 Td (Every ) Tj ET Q q 0 0 0 rg BT 514.47 178.25 Td (10 ) Tj ET Q q 0 0 0 rg BT 527.02 178.25 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 77.99 166.25 Td (of ) Tj ET Q q 0 0 0 rg BT 89.32 166.25 Td (JJR ) Tj ET Q q 0 0 0 rg BT 106.56 166.25 Td (VI ) Tj ET Q q 0 0 0 rg BT 120.12 166.25 Td (held ) Tj ET Q q 0 0 0 rg BT 140.33 166.25 Td (by ) Tj ET Q q 0 0 0 rg BT 153.34 166.25 Td (the ) Tj ET Q q 0 0 0 rg BT 168.56 166.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 222.09 166.25 Td (of ) Tj ET Q q 0 0 0 rg BT 233.43 166.25 Td (JJR ) Tj ET Q q 0 0 0 rg BT 250.66 166.25 Td (VI ) Tj ET Q q 0 0 0 rg BT 264.22 166.25 Td (immediately ) Tj ET Q q 0 0 0 rg BT 317.21 166.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 339.65 166.25 Td (to ) Tj ET Q q 0 0 0 rg BT 350.43 166.25 Td (the ) Tj ET Q q 0 0 0 rg BT 365.64 166.25 Td (reverse ) Tj ET Q q 0 0 0 rg BT 397.51 166.25 Td (mer) Tj ET Q q 0 0 0 rg BT 412.88 166.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 428.65 166.25 Td (were, ) Tj ET Q q 0 0 0 rg BT 453.58 166.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 476.58 166.25 Td (consummation ) Tj ET Q q 0 0 0 rg BT 538.47 166.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.80 166.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (mer) Tj ET Q q 0 0 0 rg BT 65.37 154.25 Td (ger) Tj ET Q q 0 0 0 rg BT 77.73 154.25 Td (, ) Tj ET Q q 0 0 0 rg BT 82.51 154.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 135.33 154.25 Td (into ) Tj ET Q q 0 0 0 rg BT 153.16 154.25 Td (one ) Tj ET Q q 0 0 0 rg BT 169.87 154.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 206.02 154.25 Td (share ) Tj ET Q q 0 0 0 rg BT 229.39 154.25 Td (of ) Tj ET Q q 0 0 0 rg BT 240.00 154.25 Td (JJR ) Tj ET Q q 0 0 0 rg BT 256.56 154.25 Td (VI. ) Tj ET Q q 0 0 0 rg BT 271.89 154.25 Td ( ) Tj ET Q q 0 0 0 rg BT 274.16 154.25 Td (Upon ) Tj ET Q q 0 0 0 rg BT 298.66 154.25 Td (re-domestication ) Tj ET Q q 0 0 0 rg BT 368.13 154.25 Td (in ) Tj ET Q q 0 0 0 rg BT 378.18 154.25 Td (the ) Tj ET Q q 0 0 0 rg BT 392.67 154.25 Td (Cayman ) Tj ET Q q 0 0 0 rg BT 428.27 154.25 Td (Islands, ) Tj ET Q q 0 0 0 rg BT 461.38 154.25 Td (these ) Tj ET Q q 0 0 0 rg BT 484.20 154.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 537.02 154.25 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (were ) Tj ET Q q 0 0 0 rg BT 71.93 142.25 Td (then ) Tj ET Q q 0 0 0 rg BT 91.65 142.25 Td (exchanged ) Tj ET Q q 0 0 0 rg BT 136.90 142.25 Td (on ) Tj ET Q q 0 0 0 rg BT 149.40 142.25 Td (a ) Tj ET Q q 0 0 0 rg BT 156.34 142.25 Td (one-for) Tj ET Q q 0 0 0 rg BT 185.57 142.25 Td (-one ) Tj ET Q q 0 0 0 rg BT 205.83 142.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 228.33 142.25 Td (for ) Tj ET Q q 0 0 0 rg BT 242.50 142.25 Td (our ) Tj ET Q q 0 0 0 rg BT 258.33 142.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 294.70 142.25 Td (shares. ) Tj ET Q q 0 0 0 rg BT 324.69 142.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (In ) Tj ET Q q 0 0 0 rg BT 61.27 118.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 108.08 118.25 Td (with ) Tj ET Q q 0 0 0 rg BT 128.80 118.25 Td (the ) Tj ET Q q 0 0 0 rg BT 143.95 118.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 190.77 118.25 Td (of ) Tj ET Q q 0 0 0 rg BT 201.39 118.25 Td (American ) Tj ET Q q 0 0 0 rg BT 243.75 118.25 Td (Service ) Tj ET Q q 0 0 0 rg BT 276.68 118.25 Td (and ) Tj ET Q q 0 0 0 rg BT 293.41 118.25 Td (American ) Tj ET Q q 0 0 0 rg BT 335.77 118.25 Td (Country) Tj ET Q q 0 0 0 rg BT 367.90 118.25 Td (, ) Tj ET Q q 0 0 0 rg BT 373.33 118.25 Td (we ) Tj ET Q q 0 0 0 rg BT 387.93 118.25 Td (streamlined ) Tj ET Q q 0 0 0 rg BT 437.52 118.25 Td (the ) Tj ET Q q 0 0 0 rg BT 452.68 118.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 497.27 118.25 Td (of ) Tj ET Q q 0 0 0 rg BT 508.54 118.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.70 118.25 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 100.65 106.25 Td (to ) Tj ET Q q 0 0 0 rg BT 111.86 106.25 Td (focus ) Tj ET Q q 0 0 0 rg BT 136.95 106.25 Td (on ) Tj ET Q q 0 0 0 rg BT 150.39 106.25 Td (the ) Tj ET Q q 0 0 0 rg BT 166.04 106.25 Td (light ) Tj ET Q q 0 0 0 rg BT 196.68 106.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 247.31 106.25 Td (automobile ) Tj ET Q q 0 0 0 rg BT 295.73 106.25 Td (lines ) Tj ET Q q 0 0 0 rg BT 318.05 106.25 Td (of ) Tj ET Q q 0 0 0 rg BT 329.81 106.25 Td (business ) Tj ET Q q 0 0 0 rg BT 367.14 106.25 Td (we ) Tj ET Q q 0 0 0 rg BT 382.23 106.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 414.54 106.25 Td (will ) Tj ET Q q 0 0 0 rg BT 433.53 106.25 Td (produce ) Tj ET Q q 0 0 0 rg BT 469.17 106.25 Td (favorable ) Tj ET Q q 0 0 0 rg BT 510.35 106.25 Td (underwriting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (results. ) Tj ET Q q 0 0 0 rg BT 80.42 94.25 Td (During ) Tj ET Q q 0 0 0 rg BT 110.55 94.25 Td (201) Tj ET Q q 0 0 0 rg BT 125.18 94.25 Td (1 ) Tj ET Q q 0 0 0 rg BT 131.99 94.25 Td (and ) Tj ET Q q 0 0 0 rg BT 148.24 94.25 Td (2012, ) Tj ET Q q 0 0 0 rg BT 172.55 94.25 Td (we ) Tj ET Q q 0 0 0 rg BT 186.01 94.25 Td (disposed ) Tj ET Q q 0 0 0 rg BT 222.82 94.25 Td (of ) Tj ET Q q 0 0 0 rg BT 232.96 94.25 Td (non-core ) Tj ET Q q 0 0 0 rg BT 270.31 94.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 295.44 94.25 Td (and ) Tj ET Q q 0 0 0 rg BT 311.69 94.25 Td (placed ) Tj ET Q q 0 0 0 rg BT 339.59 94.25 Td (into ) Tj ET Q q 0 0 0 rg BT 356.96 94.25 Td (run-of) Tj ET Q q 0 0 0 rg BT 381.77 94.25 Td (f ) Tj ET Q q 0 0 0 rg BT 386.91 94.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 415.92 94.25 Td (non-core ) Tj ET Q q 0 0 0 rg BT 453.26 94.25 Td (lines ) Tj ET Q q 0 0 0 rg BT 473.96 94.25 Td (of ) Tj ET Q q 0 0 0 rg BT 484.09 94.25 Td (business ) Tj ET Q q 0 0 0 rg BT 519.79 94.25 Td (previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (written ) Tj ET Q q 0 0 0 rg BT 80.90 82.25 Td (by ) Tj ET Q q 0 0 0 rg BT 93.48 82.25 Td (the ) Tj ET Q q 0 0 0 rg BT 108.28 82.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 149.17 82.25 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 201.46 82.25 Td (Since ) Tj ET Q q 0 0 0 rg BT 226.26 82.25 Td (disposing ) Tj ET Q q 0 0 0 rg BT 267.18 82.25 Td (of ) Tj ET Q q 0 0 0 rg BT 278.09 82.25 Td (these ) Tj ET Q q 0 0 0 rg BT 301.21 82.25 Td (non-core ) Tj ET Q q 0 0 0 rg BT 339.33 82.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 365.23 82.25 Td (and ) Tj ET Q q 0 0 0 rg BT 382.25 82.25 Td (lines ) Tj ET Q q 0 0 0 rg BT 403.72 82.25 Td (of ) Tj ET Q q 0 0 0 rg BT 414.62 82.25 Td (business, ) Tj ET Q q 0 0 0 rg BT 453.59 82.25 Td (our ) Tj ET Q q 0 0 0 rg BT 469.50 82.25 Td (sole ) Tj ET Q q 0 0 0 rg BT 488.19 82.25 Td (focus ) Tj ET Q q 0 0 0 rg BT 512.43 82.25 Td (has ) Tj ET Q q 0 0 0 rg BT 528.33 82.25 Td (been ) Tj ET Q q 0 0 0 rg BT 549.79 82.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 104.16 70.25 Td (of ) Tj ET Q q 0 0 0 rg BT 114.99 70.25 Td (specialty ) Tj ET Q q 0 0 0 rg BT 153.03 70.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 202.72 70.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 243.54 70.25 Td (for ) Tj ET Q q 0 0 0 rg BT 257.70 70.25 Td (users ) Tj ET Q q 0 0 0 rg BT 280.75 70.25 Td (of ) Tj ET Q q 0 0 0 rg BT 291.58 70.25 Td ("light" ) Tj ET Q q 0 0 0 rg BT 320.58 70.25 Td (vehicles ) Tj ET Q q 0 0 0 rg BT 355.84 70.25 Td (in ) Tj ET Q q 0 0 0 rg BT 366.12 70.25 Td (the ) Tj ET Q q 0 0 0 rg BT 380.84 70.25 Td (United ) Tj ET Q q 0 0 0 rg BT 410.56 70.25 Td (States. ) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.07 742.10 Td (December ) Tj ET Q q 0 0 0 rg BT 107.01 742.10 Td (7, ) Tj ET Q q 0 0 0 rg BT 116.36 742.10 Td (2012, ) Tj ET Q q 0 0 0 rg BT 140.72 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 147.01 742.10 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 195.51 742.10 Td (meeting ) Tj ET Q q 0 0 0 rg BT 229.57 742.10 Td (was ) Tj ET Q q 0 0 0 rg BT 246.98 742.10 Td (held ) Tj ET Q q 0 0 0 rg BT 266.05 742.10 Td (where ) Tj ET Q q 0 0 0 rg BT 292.33 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 298.62 742.10 Td (one-for) Tj ET Q q 0 0 0 rg BT 327.85 742.10 Td (-three ) Tj ET Q q 0 0 0 rg BT 353.02 742.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 383.74 742.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 406.70 742.10 Td (split ) Tj ET Q q 0 0 0 rg BT 425.78 742.10 Td (was ) Tj ET Q q 0 0 0 rg BT 443.18 742.10 Td (unanimously ) Tj ET Q q 0 0 0 rg BT 496.70 742.10 Td (approved. ) Tj ET Q q 0 0 0 rg BT 538.13 742.10 Td (When ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.59 730.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 95.83 730.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 119.32 730.10 Td (split ) Tj ET Q q 0 0 0 rg BT 138.92 730.10 Td (took ) Tj ET Q q 0 0 0 rg BT 159.07 730.10 Td (ef) Tj ET Q q 0 0 0 rg BT 166.66 730.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 184.02 730.10 Td (on ) Tj ET Q q 0 0 0 rg BT 196.40 730.10 Td (January ) Tj ET Q q 0 0 0 rg BT 229.87 730.10 Td (29, ) Tj ET Q q 0 0 0 rg BT 244.75 730.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 269.62 730.10 Td (it ) Tj ET Q q 0 0 0 rg BT 277.56 730.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 319.35 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 333.94 730.10 Td (authorized ) Tj ET Q q 0 0 0 rg BT 378.52 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 395.33 730.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 444.37 730.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 480.62 730.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 507.99 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 524.80 730.10 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 78.57 718.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 106.57 718.10 Td (at ) Tj ET Q q 0 0 0 rg BT 116.79 718.10 Td (a ) Tj ET Q q 0 0 0 rg BT 124.24 718.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 145.58 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.92 718.10 Td (one-for) Tj ET Q q 0 0 0 rg BT 186.15 718.10 Td (-three. ) Tj ET Q q 0 0 0 rg BT 214.76 718.10 Td (The ) Tj ET Q q 0 0 0 rg BT 233.31 718.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 267.98 718.10 Td (objective ) Tj ET Q q 0 0 0 rg BT 307.64 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 318.98 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 334.21 718.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 366.08 718.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 390.20 718.10 Td (split ) Tj ET Q q 0 0 0 rg BT 410.44 718.10 Td (was ) Tj ET Q q 0 0 0 rg BT 429.00 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 439.79 718.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 475.55 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 490.78 718.10 Td (per ) Tj ET Q q 0 0 0 rg BT 506.56 718.10 Td (share ) Tj ET Q q 0 0 0 rg BT 530.67 718.10 Td (price ) Tj ET Q q 0 0 0 rg BT 553.66 718.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 75.15 706.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 111.27 706.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 138.50 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 148.52 706.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 170.20 706.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 199.64 706.10 Td (listing ) Tj ET Q q 0 0 0 rg BT 226.88 706.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 281.33 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 291.90 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 306.36 706.10 Td (NASDAQ ) Tj ET Q q 0 0 0 rg BT 350.27 706.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 381.39 706.10 Td (Market. ) Tj ET Q q 0 0 0 rg BT 415.01 706.10 Td (Unless ) Tj ET Q q 0 0 0 rg BT 444.47 706.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 485.59 706.10 Td (noted, ) Tj ET Q q 0 0 0 rg BT 512.55 706.10 Td (all ) Tj ET Q q 0 0 0 rg BT 524.79 706.10 Td (historical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (share ) Tj ET Q q 0 0 0 rg BT 73.60 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 90.54 694.10 Td (per ) Tj ET Q q 0 0 0 rg BT 105.81 694.10 Td (share ) Tj ET Q q 0 0 0 rg BT 129.40 694.10 Td (values ) Tj ET Q q 0 0 0 rg BT 157.45 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 167.73 694.10 Td (this ) Tj ET Q q 0 0 0 rg BT 184.13 694.10 Td (Annual ) Tj ET Q q 0 0 0 rg BT 216.06 694.10 Td (Report ) Tj ET Q q 0 0 0 rg BT 245.78 694.10 Td (on ) Tj ET Q q 0 0 0 rg BT 258.28 694.10 Td (Form ) Tj ET Q q 0 0 0 rg BT 282.45 694.10 Td (10-K ) Tj ET Q q 0 0 0 rg BT 305.50 694.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 333.54 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 348.25 694.10 Td (one-for) Tj ET Q q 0 0 0 rg BT 377.48 694.10 Td (-three ) Tj ET Q q 0 0 0 rg BT 403.30 694.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 434.66 694.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 458.27 694.10 Td (split.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.45 670.10 Td (January ) Tj ET Q q 0 0 0 rg BT 97.77 670.10 Td (2, ) Tj ET Q q 0 0 0 rg BT 107.49 670.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 129.72 670.10 Td (we ) Tj ET Q q 0 0 0 rg BT 143.60 670.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 180.25 670.10 Td (Camelot ) Tj ET Q q 0 0 0 rg BT 216.35 670.10 Td (Services, ) Tj ET Q q 0 0 0 rg BT 254.96 670.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 274.95 670.10 Td (or ) Tj ET Q q 0 0 0 rg BT 285.50 670.10 Td (Camelot ) Tj ET Q q 0 0 0 rg BT 321.61 670.10 Td (Services, ) Tj ET Q q 0 0 0 rg BT 360.21 670.10 Td (a ) Tj ET Q q 0 0 0 rg BT 366.87 670.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 404.64 670.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 433.52 670.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 474.06 670.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 506.84 670.10 Td (company) Tj ET Q q 0 0 0 rg BT 542.85 670.10 Td (, ) Tj ET Q q 0 0 0 rg BT 547.57 670.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (its ) Tj ET Q q 0 0 0 rg BT 62.22 658.10 Td (sole ) Tj ET Q q 0 0 0 rg BT 81.09 658.10 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 121.55 658.10 Td (, ) Tj ET Q q 0 0 0 rg BT 126.82 658.10 Td (Gateway) Tj ET Q q 0 0 0 rg BT 161.71 658.10 Td (, ) Tj ET Q q 0 0 0 rg BT 166.97 658.10 Td (from ) Tj ET Q q 0 0 0 rg BT 189.18 658.10 Td (Hendricks ) Tj ET Q q 0 0 0 rg BT 233.05 658.10 Td (Holding ) Tj ET Q q 0 0 0 rg BT 268.59 658.10 Td (Company) Tj ET Q q 0 0 0 rg BT 306.83 658.10 Td (, ) Tj ET Q q 0 0 0 rg BT 312.10 658.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 332.63 658.10 Td (or ) Tj ET Q q 0 0 0 rg BT 343.73 658.10 Td (Hendricks, ) Tj ET Q q 0 0 0 rg BT 390.10 658.10 Td (an ) Tj ET Q q 0 0 0 rg BT 402.30 658.10 Td (unaf) Tj ET Q q 0 0 0 rg BT 419.89 658.10 Td (filiated ) Tj ET Q q 0 0 0 rg BT 450.98 658.10 Td (third ) Tj ET Q q 0 0 0 rg BT 472.63 658.10 Td (party) Tj ET Q q 0 0 0 rg BT 492.53 658.10 Td (. ) Tj ET Q q 0 0 0 rg BT 497.60 658.10 Td (This ) Tj ET Q q 0 0 0 rg BT 518.14 658.10 Td (transaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (was ) Tj ET Q q 0 0 0 rg BT 67.18 646.10 Td (contractually ) Tj ET Q q 0 0 0 rg BT 121.00 646.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 153.72 646.10 Td (ef) Tj ET Q q 0 0 0 rg BT 161.31 646.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 190.13 646.10 Td (as ) Tj ET Q q 0 0 0 rg BT 200.09 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 210.04 646.10 Td (January ) Tj ET Q q 0 0 0 rg BT 242.77 646.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 251.89 646.10 Td (2013. ) Tj ET Q q 0 0 0 rg BT 276.02 646.10 Td ( ) Tj ET Q q 0 0 0 rg BT 277.64 646.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 314.80 646.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 350.87 646.10 Td (specialized ) Tj ET Q q 0 0 0 rg BT 396.91 646.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 445.73 646.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 485.67 646.10 Td (products, ) Tj ET Q q 0 0 0 rg BT 524.24 646.10 Td (including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 99.70 634.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 147.19 634.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 188.00 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 198.28 634.10 Td (niche ) Tj ET Q q 0 0 0 rg BT 222.44 634.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 256.59 634.10 Td (such ) Tj ET Q q 0 0 0 rg BT 277.42 634.10 Td (as ) Tj ET Q q 0 0 0 rg BT 288.25 634.10 Td (taxi, ) Tj ET Q q 0 0 0 rg BT 308.25 634.10 Td (black ) Tj ET Q q 0 0 0 rg BT 332.40 634.10 Td (car ) Tj ET Q q 0 0 0 rg BT 347.11 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 364.05 634.10 Td (sedan ) Tj ET Q q 0 0 0 rg BT 389.32 634.10 Td (service ) Tj ET Q q 0 0 0 rg BT 420.13 634.10 Td (owners ) Tj ET Q q 0 0 0 rg BT 451.51 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 468.45 634.10 Td (operators.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 89.04 610.10 Td (is ) Tj ET Q q 0 0 0 rg BT 99.22 610.10 Td (a ) Tj ET Q q 0 0 0 rg BT 107.16 610.10 Td (St. ) Tj ET Q q 0 0 0 rg BT 121.51 610.10 Td (Louis, ) Tj ET Q q 0 0 0 rg BT 150.29 610.10 Td (Missouri-based ) Tj ET Q q 0 0 0 rg BT 215.46 610.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 257.28 610.10 Td (company ) Tj ET Q q 0 0 0 rg BT 297.44 610.10 Td (that ) Tj ET Q q 0 0 0 rg BT 315.94 610.10 Td (was ) Tj ET Q q 0 0 0 rg BT 335.00 610.10 Td (writing ) Tj ET Q q 0 0 0 rg BT 367.39 610.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 428.66 610.10 Td ($10.0 ) Tj ET Q q 0 0 0 rg BT 454.66 610.10 Td (million ) Tj ET Q q 0 0 0 rg BT 487.06 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 498.90 610.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 529.06 610.10 Td (taxi ) Tj ET Q q 0 0 0 rg BT 547.56 610.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (limousine ) Tj ET Q q 0 0 0 rg BT 91.98 598.10 Td (net ) Tj ET Q q 0 0 0 rg BT 106.74 598.10 Td (written ) Tj ET Q q 0 0 0 rg BT 137.60 598.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 176.25 598.10 Td (in ) Tj ET Q q 0 0 0 rg BT 186.56 598.10 Td (states ) Tj ET Q q 0 0 0 rg BT 211.32 598.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 244.95 598.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 285.24 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 295.00 598.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 318.65 598.10 Td (at ) Tj ET Q q 0 0 0 rg BT 328.40 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.16 598.10 Td (time ) Tj ET Q q 0 0 0 rg BT 363.47 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 374.34 598.10 Td (our ) Tj ET Q q 0 0 0 rg BT 390.21 598.10 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 439.13 598.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 477.21 598.10 Td (is ) Tj ET Q q 0 0 0 rg BT 486.42 598.10 Td (an ) Tj ET Q q 0 0 0 rg BT 498.39 598.10 Td (admitted ) Tj ET Q q 0 0 0 rg BT 535.92 598.10 Td (carrier ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.44 586.10 Td (46 ) Tj ET Q q 0 0 0 rg BT 73.10 586.10 Td (states ) Tj ET Q q 0 0 0 rg BT 97.97 586.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 117.30 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.18 586.10 Td (District ) Tj ET Q q 0 0 0 rg BT 164.83 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 175.82 586.10 Td (Columbia. ) Tj ET Q q 0 0 0 rg BT 219.83 586.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 245.40 586.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 291.94 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 302.93 586.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 341.13 586.10 Td (expanded ) Tj ET Q q 0 0 0 rg BT 382.10 586.10 Td (our ) Tj ET Q q 0 0 0 rg BT 398.09 586.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 446.86 586.10 Td (channel ) Tj ET Q q 0 0 0 rg BT 480.61 586.10 Td (for ) Tj ET Q q 0 0 0 rg BT 494.93 586.10 Td (core ) Tj ET Q q 0 0 0 rg BT 514.80 586.10 Td (commercial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 97.49 574.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 118.88 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 129.16 574.10 Td (a ) Tj ET Q q 0 0 0 rg BT 136.09 574.10 Td (total ) Tj ET Q q 0 0 0 rg BT 156.37 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 167.20 574.10 Td (40 ) Tj ET Q q 0 0 0 rg BT 179.70 574.10 Td (states ) Tj ET Q q 0 0 0 rg BT 204.41 574.10 Td (and ) Tj ET Q q 0 0 0 rg BT 221.35 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 236.07 574.10 Td (District ) Tj ET Q q 0 0 0 rg BT 268.56 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 279.39 574.10 Td (Columbia. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 78.25 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 93.72 550.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 119.20 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 130.79 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.26 550.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 170.63 550.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 209.42 550.10 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 256.82 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 272.30 550.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 311.09 550.10 Td (price ) Tj ET Q q 0 0 0 rg BT 334.34 550.10 Td (equaled ) Tj ET Q q 0 0 0 rg BT 368.69 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 384.16 550.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 420.75 550.10 Td (book ) Tj ET Q q 0 0 0 rg BT 444.01 550.10 Td (value ) Tj ET Q q 0 0 0 rg BT 468.92 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 480.51 550.10 Td (Camelot ) Tj ET Q q 0 0 0 rg BT 517.65 550.10 Td (Services ) Tj ET Q q 0 0 0 rg BT 554.78 550.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (December ) Tj ET Q q 0 0 0 rg BT 93.11 538.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 107.64 538.10 Td (2012, ) Tj ET Q q 0 0 0 rg BT 132.16 538.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 162.51 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 172.32 538.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 201.55 538.10 Td (pre ) Tj ET Q q 0 0 0 rg BT 216.34 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.81 538.10 Td (post-closing ) Tj ET Q q 0 0 0 rg BT 283.72 538.10 Td (adjustments, ) Tj ET Q q 0 0 0 rg BT 336.02 538.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 378.32 538.10 Td (among ) Tj ET Q q 0 0 0 rg BT 407.56 538.10 Td (others, ) Tj ET Q q 0 0 0 rg BT 436.53 538.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 460.77 538.10 Td (development ) Tj ET Q q 0 0 0 rg BT 514.44 538.10 Td (between ) Tj ET Q q 0 0 0 rg BT 549.79 538.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (signing ) Tj ET Q q 0 0 0 rg BT 82.21 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.30 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 108.28 526.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 132.15 526.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 170.45 526.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 214.85 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.05 526.10 Td (December ) Tj ET Q q 0 0 0 rg BT 275.89 526.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 291.15 526.10 Td (2012. ) Tj ET Q q 0 0 0 rg BT 315.81 526.10 Td (Additional ) Tj ET Q q 0 0 0 rg BT 361.34 526.10 Td (consideration, ) Tj ET Q q 0 0 0 rg BT 420.47 526.10 Td (principally ) Tj ET Q q 0 0 0 rg BT 466.56 526.10 Td (in ) Tj ET Q q 0 0 0 rg BT 477.10 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 492.07 526.10 Td (form ) Tj ET Q q 0 0 0 rg BT 514.27 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 525.36 526.10 Td (preferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 80.11 514.10 Td (may ) Tj ET Q q 0 0 0 rg BT 99.95 514.10 Td (be ) Tj ET Q q 0 0 0 rg BT 112.01 514.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 131.85 514.10 Td (to ) Tj ET Q q 0 0 0 rg BT 142.25 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.08 514.10 Td (seller) Tj ET Q q 0 0 0 rg BT 178.34 514.10 Td (, ) Tj ET Q q 0 0 0 rg BT 183.46 514.10 Td (or ) Tj ET Q q 0 0 0 rg BT 194.41 514.10 Td (returned ) Tj ET Q q 0 0 0 rg BT 230.35 514.10 Td (to ) Tj ET Q q 0 0 0 rg BT 240.75 514.10 Td (us ) Tj ET Q q 0 0 0 rg BT 252.26 514.10 Td (by ) Tj ET Q q 0 0 0 rg BT 264.88 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 279.72 514.10 Td (seller) Tj ET Q q 0 0 0 rg BT 300.97 514.10 Td (, ) Tj ET Q q 0 0 0 rg BT 306.09 514.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 350.37 514.10 Td (upon, ) Tj ET Q q 0 0 0 rg BT 375.49 514.10 Td (among ) Tj ET Q q 0 0 0 rg BT 405.33 514.10 Td (other ) Tj ET Q q 0 0 0 rg BT 428.50 514.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 458.07 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.91 514.10 Td (future ) Tj ET Q q 0 0 0 rg BT 499.40 514.10 Td (development ) Tj ET Q q 0 0 0 rg BT 553.67 514.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (Gateway) Tj ET Q q 0 0 0 rg BT 88.32 502.10 Td (s ) Tj ET Q q 0 0 0 rg BT 94.97 502.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 121.60 502.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 139.92 502.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 175.44 502.10 Td (for ) Tj ET Q q 0 0 0 rg BT 189.87 502.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 219.83 502.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 241.48 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 252.57 502.10 Td (business ) Tj ET Q q 0 0 0 rg BT 289.22 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 306.42 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.40 502.10 Td (utilization ) Tj ET Q q 0 0 0 rg BT 364.71 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 375.80 502.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 405.76 502.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 441.83 502.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 456.81 502.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 482.90 502.10 Td (over ) Tj ET Q q 0 0 0 rg BT 503.43 502.10 Td (time. ) Tj ET Q q 0 0 0 rg BT 526.46 502.10 Td (Gateway ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (also ) Tj ET Q q 0 0 0 rg BT 69.95 490.10 Td (wrote ) Tj ET Q q 0 0 0 rg BT 96.55 490.10 Td (contractor's ) Tj ET Q q 0 0 0 rg BT 146.61 490.10 Td (workers) Tj ET Q q 0 0 0 rg BT 181.41 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 185.25 490.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 244.63 490.10 Td (insurance, ) Tj ET Q q 0 0 0 rg BT 289.28 490.10 Td (which ) Tj ET Q q 0 0 0 rg BT 317.56 490.10 Td (we ) Tj ET Q q 0 0 0 rg BT 333.05 490.10 Td (ceased ) Tj ET Q q 0 0 0 rg BT 363.54 490.10 Td (writing ) Tj ET Q q 0 0 0 rg BT 396.26 490.10 Td (as ) Tj ET Q q 0 0 0 rg BT 408.43 490.10 Td (part ) Tj ET Q q 0 0 0 rg BT 427.81 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 439.98 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 456.03 490.10 Td (transaction. ) Tj ET Q q 0 0 0 rg BT 505.39 490.10 Td (An ) Tj ET Q q 0 0 0 rg BT 521.45 490.10 Td (indemnity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 98.90 478.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 143.36 478.10 Td (was ) Tj ET Q q 0 0 0 rg BT 161.73 478.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 193.98 478.10 Td (into ) Tj ET Q q 0 0 0 rg BT 212.35 478.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 249.61 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 260.21 478.10 Td (which ) Tj ET Q q 0 0 0 rg BT 287.46 478.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 313.61 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 324.76 478.10 Td (Gateway) Tj ET Q q 0 0 0 rg BT 363.08 478.10 Td (s ) Tj ET Q q 0 0 0 rg BT 369.79 478.10 Td (workers) Tj ET Q q 0 0 0 rg BT 404.59 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 407.41 478.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 465.77 478.10 Td (business ) Tj ET Q q 0 0 0 rg BT 502.48 478.10 Td (was ) Tj ET Q q 0 0 0 rg BT 520.85 478.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 546.98 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 557.58 478.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (third ) Tj ET Q q 0 0 0 rg BT 71.39 466.10 Td (party ) Tj ET Q q 0 0 0 rg BT 94.43 466.10 Td (captive ) Tj ET Q q 0 0 0 rg BT 125.81 466.10 Td (reinsurer ) Tj ET Q q 0 0 0 rg BT 163.84 466.10 Td (funded ) Tj ET Q q 0 0 0 rg BT 194.11 466.10 Td (by ) Tj ET Q q 0 0 0 rg BT 206.61 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 221.33 466.10 Td (seller ) Tj ET Q q 0 0 0 rg BT 245.48 466.10 Td (as ) Tj ET Q q 0 0 0 rg BT 256.31 466.10 Td (part ) Tj ET Q q 0 0 0 rg BT 274.36 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 285.19 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 299.91 466.10 Td (transaction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.30 442.10 Td (total ) Tj ET Q q 0 0 0 rg BT 88.83 442.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 127.12 442.10 Td (price ) Tj ET Q q 0 0 0 rg BT 149.86 442.10 Td (for ) Tj ET Q q 0 0 0 rg BT 164.27 442.10 Td (all ) Tj ET Q q 0 0 0 rg BT 177.02 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 188.11 442.10 Td (Camelot ) Tj ET Q q 0 0 0 rg BT 224.74 442.10 Td (Services) Tj ET Q q 0 0 0 rg BT 261.21 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 263.96 442.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 313.38 442.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 341.12 442.10 Td (was ) Tj ET Q q 0 0 0 rg BT 359.43 442.10 Td ($14.3 ) Tj ET Q q 0 0 0 rg BT 384.68 442.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 418.83 442.10 Td (consisting ) Tj ET Q q 0 0 0 rg BT 462.14 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 473.22 442.10 Td (a ) Tj ET Q q 0 0 0 rg BT 480.42 442.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 533.16 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 544.24 442.10 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.25 430.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 89.68 430.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 128.64 430.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 158.45 430.10 Td (Consideration ) Tj ET Q q 0 0 0 rg BT 216.88 430.10 Td (consisted ) Tj ET Q q 0 0 0 rg BT 256.42 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 267.07 430.10 Td (a ) Tj ET Q q 0 0 0 rg BT 273.83 430.10 Td ($6.0 ) Tj ET Q q 0 0 0 rg BT 293.66 430.10 Td (million ) Tj ET Q q 0 0 0 rg BT 324.87 430.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 362.19 430.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 381.73 430.10 Td (by ) Tj ET Q q 0 0 0 rg BT 394.05 430.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 431.92 430.10 Td (immediately ) Tj ET Q q 0 0 0 rg BT 484.22 430.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 505.99 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 516.09 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.63 430.10 Td (closing, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td ($2.0 ) Tj ET Q q 0 0 0 rg BT 70.85 418.10 Td (million ) Tj ET Q q 0 0 0 rg BT 103.09 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 114.03 418.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 138.49 418.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 178.47 418.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 206.81 418.10 Td (\(consisting ) Tj ET Q q 0 0 0 rg BT 254.05 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 265.73 418.10 Td (a ) Tj ET Q q 0 0 0 rg BT 273.52 418.10 Td (total ) Tj ET Q q 0 0 0 rg BT 294.64 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.32 418.10 Td (2,000,000 ) Tj ET Q q 0 0 0 rg BT 349.67 418.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 389.66 418.10 Td (shares\) ) Tj ET Q q 0 0 0 rg BT 421.33 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 439.11 418.10 Td ($6.3 ) Tj ET Q q 0 0 0 rg BT 459.96 418.10 Td (million ) Tj ET Q q 0 0 0 rg BT 492.21 418.10 Td (in ) Tj ET Q q 0 0 0 rg BT 503.33 418.10 Td (cash. ) Tj ET Q q 0 0 0 rg BT 526.71 418.10 Td (W) Tj ET Q q 0 0 0 rg BT 535.35 418.10 Td (e ) Tj ET Q q 0 0 0 rg BT 543.13 418.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 97.46 406.10 Td (protections ) Tj ET Q q 0 0 0 rg BT 144.94 406.10 Td (to ) Tj ET Q q 0 0 0 rg BT 155.76 406.10 Td (of) Tj ET Q q 0 0 0 rg BT 163.91 406.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 181.39 406.10 Td (up ) Tj ET Q q 0 0 0 rg BT 194.44 406.10 Td (to ) Tj ET Q q 0 0 0 rg BT 205.26 406.10 Td ($2.0 ) Tj ET Q q 0 0 0 rg BT 225.80 406.10 Td (million ) Tj ET Q q 0 0 0 rg BT 257.74 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 269.11 406.10 Td (future ) Tj ET Q q 0 0 0 rg BT 296.03 406.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 329.61 406.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 361.52 406.10 Td (development. ) Tj ET Q q 0 0 0 rg BT 418.50 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 427.13 406.10 Td (e ) Tj ET Q q 0 0 0 rg BT 434.61 406.10 Td (have ) Tj ET Q q 0 0 0 rg BT 456.54 406.10 Td (also ) Tj ET Q q 0 0 0 rg BT 475.69 406.10 Td (agreed ) Tj ET Q q 0 0 0 rg BT 505.38 406.10 Td (to ) Tj ET Q q 0 0 0 rg BT 516.20 406.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 549.79 406.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (sellers ) Tj ET Q q 0 0 0 rg BT 78.05 394.10 Td (up ) Tj ET Q q 0 0 0 rg BT 90.55 394.10 Td (to ) Tj ET Q q 0 0 0 rg BT 100.83 394.10 Td ($2.0 ) Tj ET Q q 0 0 0 rg BT 120.83 394.10 Td (million ) Tj ET Q q 0 0 0 rg BT 152.22 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 162.50 394.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 204.99 394.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 261.36 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 271.64 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 286.35 394.10 Td (event ) Tj ET Q q 0 0 0 rg BT 310.51 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 321.34 394.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 361.59 394.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 392.96 394.10 Td (development.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.58 370.10 Td (February ) Tj ET Q q 0 0 0 rg BT 103.03 370.10 Td (1) Tj ET Q q 0 0 0 rg BT 107.66 370.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 117.52 370.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 142.37 370.10 Td (an ) Tj ET Q q 0 0 0 rg BT 154.17 370.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 195.39 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 206.07 370.10 Td (4,125,000 ) Tj ET Q q 0 0 0 rg BT 247.91 370.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 271.37 370.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 307.60 370.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 334.95 370.10 Td (were ) Tj ET Q q 0 0 0 rg BT 356.74 370.10 Td (of) Tj ET Q q 0 0 0 rg BT 364.89 370.10 Td (fered ) Tj ET Q q 0 0 0 rg BT 387.78 370.10 Td (in ) Tj ET Q q 0 0 0 rg BT 397.39 370.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 422.66 370.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 448.34 370.10 Td (public ) Tj ET Q q 0 0 0 rg BT 475.70 370.10 Td (of) Tj ET Q q 0 0 0 rg BT 483.85 370.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 510.08 370.10 Td (in ) Tj ET Q q 0 0 0 rg BT 520.21 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 534.79 370.10 Td (United ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (States. ) Tj ET Q q 0 0 0 rg BT 79.04 358.10 Td (1,500,000 ) Tj ET Q q 0 0 0 rg BT 121.69 358.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 158.22 358.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 185.87 358.10 Td (were ) Tj ET Q q 0 0 0 rg BT 207.95 358.10 Td (of) Tj ET Q q 0 0 0 rg BT 216.10 358.10 Td (fered ) Tj ET Q q 0 0 0 rg BT 239.29 358.10 Td (by ) Tj ET Q q 0 0 0 rg BT 251.35 358.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 275.11 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 292.21 358.10 Td (2,625,000 ) Tj ET Q q 0 0 0 rg BT 334.86 358.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 371.39 358.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 399.03 358.10 Td (were ) Tj ET Q q 0 0 0 rg BT 421.11 358.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 440.44 358.10 Td (by ) Tj ET Q q 0 0 0 rg BT 453.09 358.10 Td (KAI ) Tj ET Q q 0 0 0 rg BT 473.52 358.10 Td (at ) Tj ET Q q 0 0 0 rg BT 483.38 358.10 Td (a ) Tj ET Q q 0 0 0 rg BT 490.48 358.10 Td (price ) Tj ET Q q 0 0 0 rg BT 513.11 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 524.10 358.10 Td ($5.85 ) Tj ET Q q 0 0 0 rg BT 549.25 358.10 Td (per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 76.14 346.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 100.52 346.10 Td (also ) Tj ET Q q 0 0 0 rg BT 119.89 346.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 153.14 346.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.63 346.10 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 222.43 346.10 Td (an ) Tj ET Q q 0 0 0 rg BT 235.13 346.10 Td (option ) Tj ET Q q 0 0 0 rg BT 263.95 346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 275.00 346.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 313.80 346.10 Td (up ) Tj ET Q q 0 0 0 rg BT 327.07 346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 338.11 346.10 Td (an ) Tj ET Q q 0 0 0 rg BT 350.81 346.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 392.94 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 404.54 346.10 Td (618,750additional ) Tj ET Q q 0 0 0 rg BT 482.79 346.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 511.05 346.10 Td (at ) Tj ET Q q 0 0 0 rg BT 521.53 346.10 Td (the ) Tj ET Q q 0 0 0 rg BT 537.01 346.10 Td (public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 334.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 84.52 334.10 Td (price ) Tj ET Q q 0 0 0 rg BT 107.01 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 117.83 334.10 Td ($5.85 ) Tj ET Q q 0 0 0 rg BT 142.83 334.10 Td (per ) Tj ET Q q 0 0 0 rg BT 158.10 334.10 Td (share ) Tj ET Q q 0 0 0 rg BT 181.69 334.10 Td (to ) Tj ET Q q 0 0 0 rg BT 191.97 334.10 Td (cover ) Tj ET Q q 0 0 0 rg BT 216.67 334.10 Td (over) Tj ET Q q 0 0 0 rg BT 234.24 334.10 Td (-allotments, ) Tj ET Q q 0 0 0 rg BT 284.23 334.10 Td (if ) Tj ET Q q 0 0 0 rg BT 292.84 334.10 Td (any) Tj ET Q q 0 0 0 rg BT 306.63 334.10 Td (. ) Tj ET Q q 0 0 0 rg BT 311.62 334.10 Td (On ) Tj ET Q q 0 0 0 rg BT 326.34 334.10 Td (March ) Tj ET Q q 0 0 0 rg BT 354.94 334.10 Td (1) Tj ET Q q 0 0 0 rg BT 359.57 334.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 369.57 334.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 394.56 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 409.28 334.10 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 462.31 334.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 502.56 334.10 Td (this ) Tj ET Q q 0 0 0 rg BT 519.51 334.10 Td (option ) Tj ET Q q 0 0 0 rg BT 547.56 334.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 93.32 322.10 Td (an ) Tj ET Q q 0 0 0 rg BT 105.53 322.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 148.30 322.10 Td (451,500 ) Tj ET Q q 0 0 0 rg BT 183.58 322.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 213.23 322.10 Td (After ) Tj ET Q q 0 0 0 rg BT 237.11 322.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 291.54 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 308.76 322.10 Td (other ) Tj ET Q q 0 0 0 rg BT 332.09 322.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 373.46 322.10 Td (total ) Tj ET Q q 0 0 0 rg BT 394.02 322.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 432.33 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 443.44 322.10 Td ($9.8 ) Tj ET Q q 0 0 0 rg BT 463.72 322.10 Td (million ) Tj ET Q q 0 0 0 rg BT 495.39 322.10 Td (were ) Tj ET Q q 0 0 0 rg BT 517.59 322.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 552.01 322.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.04 310.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 101.75 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 112.91 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 127.95 310.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 158.27 310.10 Td (Since ) Tj ET Q q 0 0 0 rg BT 183.31 310.10 Td (that ) Tj ET Q q 0 0 0 rg BT 201.13 310.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 223.61 310.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 249.35 310.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 277.16 310.10 Td (have ) Tj ET Q q 0 0 0 rg BT 298.87 310.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 326.68 310.10 Td (on ) Tj ET Q q 0 0 0 rg BT 339.51 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 354.55 310.10 Td (NASDAQ ) Tj ET Q q 0 0 0 rg BT 399.05 310.10 Td (under ) Tj ET Q q 0 0 0 rg BT 424.64 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.69 310.10 Td (symbol ) Tj ET Q q 0 0 0 rg BT 471.96 310.10 Td ("AFH." ) Tj ET Q q 0 0 0 rg BT 505.46 310.10 Td ( ) Tj ET Q q 0 0 0 rg BT 508.08 310.10 Td (The ) Tj ET Q q 0 0 0 rg BT 526.46 310.10 Td (principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 88.04 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 98.86 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.56 298.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 139.38 298.10 Td (of) Tj ET Q q 0 0 0 rg BT 147.53 298.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 173.89 298.10 Td (in ) Tj ET Q q 0 0 0 rg BT 184.15 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 198.86 298.10 Td (United ) Tj ET Q q 0 0 0 rg BT 228.56 298.10 Td (States ) Tj ET Q q 0 0 0 rg BT 254.94 298.10 Td (were ) Tj ET Q q 0 0 0 rg BT 276.85 298.10 Td (to ) Tj ET Q q 0 0 0 rg BT 287.12 298.10 Td (create ) Tj ET Q q 0 0 0 rg BT 313.46 298.10 Td (a ) Tj ET Q q 0 0 0 rg BT 320.39 298.10 Td (public ) Tj ET Q q 0 0 0 rg BT 347.87 298.10 Td (market ) Tj ET Q q 0 0 0 rg BT 378.12 298.10 Td ( ) Tj ET Q q 0 0 0 rg BT 380.61 298.10 Td (in ) Tj ET Q q 0 0 0 rg BT 390.87 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.58 298.10 Td (United ) Tj ET Q q 0 0 0 rg BT 435.28 298.10 Td (States ) Tj ET Q q 0 0 0 rg BT 461.66 298.10 Td (for ) Tj ET Q q 0 0 0 rg BT 475.25 298.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 500.65 298.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 537.01 298.10 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.52 286.10 Td (thereby ) Tj ET Q q 0 0 0 rg BT 100.59 286.10 Td (enable ) Tj ET Q q 0 0 0 rg BT 129.77 286.10 Td (future ) Tj ET Q q 0 0 0 rg BT 156.73 286.10 Td (access ) Tj ET Q q 0 0 0 rg BT 185.36 286.10 Td (to ) Tj ET Q q 0 0 0 rg BT 196.22 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 211.52 286.10 Td (public ) Tj ET Q q 0 0 0 rg BT 239.60 286.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 267.68 286.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 302.42 286.10 Td (in ) Tj ET Q q 0 0 0 rg BT 313.29 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 328.59 286.10 Td (United ) Tj ET Q q 0 0 0 rg BT 358.89 286.10 Td (States ) Tj ET Q q 0 0 0 rg BT 385.86 286.10 Td (by ) Tj ET Q q 0 0 0 rg BT 398.26 286.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 422.46 286.10 Td (and ) Tj ET Q q 0 0 0 rg BT 439.98 286.10 Td (its ) Tj ET Q q 0 0 0 rg BT 452.51 286.10 Td (shareholders, ) Tj ET Q q 0 0 0 rg BT 508.64 286.10 Td (and ) Tj ET Q q 0 0 0 rg BT 526.16 286.10 Td (to ) Tj ET Q q 0 0 0 rg BT 537.02 286.10 Td (obtain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 92.49 274.10 Td (capital. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.72 250.10 Td (June ) Tj ET Q q 0 0 0 rg BT 85.55 250.10 Td (5, ) Tj ET Q q 0 0 0 rg BT 95.55 250.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 120.00 250.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 143.61 250.10 Td (delisted ) Tj ET Q q 0 0 0 rg BT 177.21 250.10 Td (from ) Tj ET Q q 0 0 0 rg BT 199.15 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 213.69 250.10 Td (T) Tj ET Q q 0 0 0 rg BT 219.10 250.10 Td (oronto ) Tj ET Q q 0 0 0 rg BT 247.71 250.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 272.98 250.10 Td (Exchange.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (On ) Tj ET Q q 0 0 0 rg BT 63.87 226.10 Td (August ) Tj ET Q q 0 0 0 rg BT 94.87 226.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 104.48 226.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 128.63 226.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 151.85 226.10 Td (used ) Tj ET Q q 0 0 0 rg BT 172.29 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 186.62 226.10 Td (net ) Tj ET Q q 0 0 0 rg BT 200.95 226.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 238.60 226.10 Td (from ) Tj ET Q q 0 0 0 rg BT 260.15 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 274.48 226.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 294.37 226.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 319.81 226.10 Td (public ) Tj ET Q q 0 0 0 rg BT 346.92 226.10 Td (of) Tj ET Q q 0 0 0 rg BT 355.07 226.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 381.06 226.10 Td (to ) Tj ET Q q 0 0 0 rg BT 390.95 226.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 426.38 226.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 446.82 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 461.15 226.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 506.57 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 517.01 226.10 Td (18,000,000 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.29 214.10 Td (its ) Tj ET Q q 0 0 0 rg BT 71.71 214.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 120.34 214.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 158.94 214.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 185.89 214.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 214.52 214.10 Td (by ) Tj ET Q q 0 0 0 rg BT 226.48 214.10 Td (KAI ) Tj ET Q q 0 0 0 rg BT 246.22 214.10 Td (for ) Tj ET Q q 0 0 0 rg BT 259.84 214.10 Td ($16.2 ) Tj ET Q q 0 0 0 rg BT 284.31 214.10 Td (million. ) Tj ET Q q 0 0 0 rg BT 317.52 214.10 Td (These ) Tj ET Q q 0 0 0 rg BT 343.36 214.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 381.96 214.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 408.92 214.10 Td (had ) Tj ET Q q 0 0 0 rg BT 425.32 214.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 458.37 214.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 499.22 214.10 Td (on ) Tj ET Q q 0 0 0 rg BT 511.18 214.10 Td (a ) Tj ET Q q 0 0 0 rg BT 517.59 214.10 Td (cumulative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 72.29 202.10 Td (at ) Tj ET Q q 0 0 0 rg BT 81.80 202.10 Td (a ) Tj ET Q q 0 0 0 rg BT 88.53 202.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 105.81 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 116.43 202.10 Td ($0.045 ) Tj ET Q q 0 0 0 rg BT 146.23 202.10 Td (per ) Tj ET Q q 0 0 0 rg BT 161.29 202.10 Td (share ) Tj ET Q q 0 0 0 rg BT 184.68 202.10 Td (per ) Tj ET Q q 0 0 0 rg BT 199.74 202.10 Td (year ) Tj ET Q q 0 0 0 rg BT 219.24 202.10 Td (\(4.5%\) ) Tj ET Q q 0 0 0 rg BT 249.02 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 265.75 202.10 Td (were ) Tj ET Q q 0 0 0 rg BT 287.47 202.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 334.75 202.10 Td (into ) Tj ET Q q 0 0 0 rg BT 352.60 202.10 Td (2,286,000 ) Tj ET Q q 0 0 0 rg BT 394.89 202.10 Td (common ) Tj ET Q q 0 0 0 rg BT 432.18 202.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 459.46 202.10 Td (at ) Tj ET Q q 0 0 0 rg BT 468.97 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 483.48 202.10 Td (option ) Tj ET Q q 0 0 0 rg BT 511.33 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 521.95 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 536.46 202.10 Td (holder ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (after ) Tj ET Q q 0 0 0 rg BT 70.82 190.10 Td (December ) Tj ET Q q 0 0 0 rg BT 114.40 190.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 129.40 190.10 Td (2015. ) Tj ET Q q 0 0 0 rg BT 154.40 190.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (On ) Tj ET Q q 0 0 0 rg BT 65.30 166.10 Td (May ) Tj ET Q q 0 0 0 rg BT 86.70 166.10 Td (13, ) Tj ET Q q 0 0 0 rg BT 102.28 166.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 127.86 166.10 Td (an ) Tj ET Q q 0 0 0 rg BT 140.37 166.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 182.31 166.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.72 166.10 Td (2,000,000 ) Tj ET Q q 0 0 0 rg BT 236.11 166.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 260.30 166.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 297.25 166.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 325.32 166.10 Td (were ) Tj ET Q q 0 0 0 rg BT 347.82 166.10 Td (of) Tj ET Q q 0 0 0 rg BT 355.97 166.10 Td (fered ) Tj ET Q q 0 0 0 rg BT 379.58 166.10 Td (in ) Tj ET Q q 0 0 0 rg BT 390.44 166.10 Td (a ) Tj ET Q q 0 0 0 rg BT 397.95 166.10 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 445.47 166.10 Td (public ) Tj ET Q q 0 0 0 rg BT 473.54 166.10 Td (of) Tj ET Q q 0 0 0 rg BT 481.69 166.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 508.64 166.10 Td (in ) Tj ET Q q 0 0 0 rg BT 519.50 166.10 Td (the ) Tj ET Q q 0 0 0 rg BT 534.79 166.10 Td (United ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (States ) Tj ET Q q 0 0 0 rg BT 78.78 154.10 Td (at ) Tj ET Q q 0 0 0 rg BT 90.88 154.10 Td (a ) Tj ET Q q 0 0 0 rg BT 100.21 154.10 Td (price ) Tj ET Q q 0 0 0 rg BT 125.09 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 138.31 154.10 Td ($12.50 ) Tj ET Q q 0 0 0 rg BT 170.70 154.10 Td (per ) Tj ET Q q 0 0 0 rg BT 188.35 154.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 215.76 154.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 241.76 154.10 Td (also ) Tj ET Q q 0 0 0 rg BT 262.76 154.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 297.63 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 314.74 154.10 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 370.17 154.10 Td (an ) Tj ET Q q 0 0 0 rg BT 384.50 154.10 Td (option ) Tj ET Q q 0 0 0 rg BT 414.94 154.10 Td (to ) Tj ET Q q 0 0 0 rg BT 427.61 154.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 468.04 154.10 Td (up ) Tj ET Q q 0 0 0 rg BT 482.93 154.10 Td (to ) Tj ET Q q 0 0 0 rg BT 495.59 154.10 Td (an ) Tj ET Q q 0 0 0 rg BT 509.92 154.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 553.67 154.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (300,000additional ) Tj ET Q q 0 0 0 rg BT 127.52 142.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 155.05 142.10 Td (at ) Tj ET Q q 0 0 0 rg BT 164.80 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 179.55 142.10 Td (public ) Tj ET Q q 0 0 0 rg BT 207.08 142.10 Td (of) Tj ET Q q 0 0 0 rg BT 215.23 142.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 241.64 142.10 Td (price ) Tj ET Q q 0 0 0 rg BT 264.16 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.02 142.10 Td ($12.50 ) Tj ET Q q 0 0 0 rg BT 305.06 142.10 Td (per ) Tj ET Q q 0 0 0 rg BT 320.36 142.10 Td (share ) Tj ET Q q 0 0 0 rg BT 343.99 142.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.31 142.10 Td (cover ) Tj ET Q q 0 0 0 rg BT 379.05 142.10 Td (over) Tj ET Q q 0 0 0 rg BT 396.62 142.10 Td (-allotments, ) Tj ET Q q 0 0 0 rg BT 446.64 142.10 Td (if ) Tj ET Q q 0 0 0 rg BT 455.28 142.10 Td (any) Tj ET Q q 0 0 0 rg BT 469.07 142.10 Td (. ) Tj ET Q q 0 0 0 rg BT 474.11 142.10 Td (On ) Tj ET Q q 0 0 0 rg BT 488.86 142.10 Td (May ) Tj ET Q q 0 0 0 rg BT 509.73 142.10 Td (27, ) Tj ET Q q 0 0 0 rg BT 524.76 142.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 549.79 142.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 104.27 130.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 145.76 130.10 Td (this ) Tj ET Q q 0 0 0 rg BT 163.95 130.10 Td (option ) Tj ET Q q 0 0 0 rg BT 193.24 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 211.41 130.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 255.68 130.10 Td (an ) Tj ET Q q 0 0 0 rg BT 268.86 130.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 312.58 130.10 Td (161,000 ) Tj ET Q q 0 0 0 rg BT 348.82 130.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 379.22 130.10 Td (After ) Tj ET Q q 0 0 0 rg BT 404.05 130.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 459.44 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 477.62 130.10 Td (other ) Tj ET Q q 0 0 0 rg BT 501.90 130.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 544.23 130.10 Td (total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 87.76 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 98.32 118.10 Td ($25.0 ) Tj ET Q q 0 0 0 rg BT 123.04 118.10 Td (million ) Tj ET Q q 0 0 0 rg BT 154.16 118.10 Td (were ) Tj ET Q q 0 0 0 rg BT 175.82 118.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 209.68 118.10 Td (on ) Tj ET Q q 0 0 0 rg BT 221.91 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 236.35 118.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 272.45 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 283.01 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 297.45 118.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 326.67 118.10 Td (A) Tj ET Q q 0 0 0 rg BT 333.34 118.10 Td ( ) Tj ET Q q 0 0 0 rg BT 335.57 118.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 366.68 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 377.24 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 391.68 118.10 Td (net ) Tj ET Q q 0 0 0 rg BT 406.12 118.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 443.89 118.10 Td (from ) Tj ET Q q 0 0 0 rg BT 465.55 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.99 118.10 Td (of) Tj ET Q q 0 0 0 rg BT 488.14 118.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 514.24 118.10 Td (will ) Tj ET Q q 0 0 0 rg BT 532.03 118.10 Td (be ) Tj ET Q q 0 0 0 rg BT 543.69 118.10 Td (used ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 106.10 Td (support ) Tj ET Q q 0 0 0 rg BT 92.78 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 107.50 106.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 153.88 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.16 106.10 Td (Anchor ) Tj ET Q q 0 0 0 rg BT 196.65 106.10 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 235.82 106.10 Td (Group, ) Tj ET Q q 0 0 0 rg BT 266.37 106.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 284.14 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 301.07 106.10 Td (its ) Tj ET Q q 0 0 0 rg BT 313.02 106.10 Td (af) Tj ET Q q 0 0 0 rg BT 320.61 106.10 Td (filiated ) Tj ET Q q 0 0 0 rg BT 351.43 106.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 382.81 106.10 Td (as ) Tj ET Q q 0 0 0 rg BT 393.64 106.10 Td (described ) Tj ET Q q 0 0 0 rg BT 434.46 106.10 Td (further ) Tj ET Q q 0 0 0 rg BT 464.17 106.10 Td (below) Tj ET Q q 0 0 0 rg BT 487.95 106.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.10 Td (During ) Tj ET Q q 0 0 0 rg BT 80.83 77.10 Td (the ) Tj ET Q q 0 0 0 rg BT 95.55 77.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 122.49 77.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 153.30 77.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.13 77.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 189.13 77.10 Td (Camelot ) Tj ET Q q 0 0 0 rg BT 225.51 77.10 Td (Services ) Tj ET Q q 0 0 0 rg BT 261.89 77.10 Td (was ) Tj ET Q q 0 0 0 rg BT 279.94 77.10 Td (mer) Tj ET Q q 0 0 0 rg BT 295.31 77.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 312.25 77.10 Td (into ) Tj ET Q q 0 0 0 rg BT 329.75 77.10 Td (American ) Tj ET Q q 0 0 0 rg BT 371.12 77.10 Td (Acquisition.) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.30 742.10 Td (described ) Tj ET Q q 0 0 0 rg BT 103.81 742.10 Td (further ) Tj ET Q q 0 0 0 rg BT 133.21 742.10 Td (below) Tj ET Q q 0 0 0 rg BT 157.00 742.10 Td (, ) Tj ET Q q 0 0 0 rg BT 161.69 742.10 Td (on ) Tj ET Q q 0 0 0 rg BT 173.88 742.10 Td (October ) Tj ET Q q 0 0 0 rg BT 208.28 742.10 Td (17, ) Tj ET Q q 0 0 0 rg BT 222.97 742.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 247.66 742.10 Td (we ) Tj ET Q q 0 0 0 rg BT 261.51 742.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 293.13 742.10 Td (into ) Tj ET Q q 0 0 0 rg BT 310.88 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 317.51 742.10 Td (definitive ) Tj ET Q q 0 0 0 rg BT 358.02 742.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 401.85 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 411.82 742.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 442.95 742.10 Td (Anchor ) Tj ET Q q 0 0 0 rg BT 475.13 742.10 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 514.00 742.10 Td (Group, ) Tj ET Q q 0 0 0 rg BT 544.24 742.10 Td (Inc., ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.40 730.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 93.90 730.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 122.52 730.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 162.80 730.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 195.31 730.10 Td (company) Tj ET Q q 0 0 0 rg BT 231.32 730.10 Td (, ) Tj ET Q q 0 0 0 rg BT 235.78 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 252.18 730.10 Td (its ) Tj ET Q q 0 0 0 rg BT 263.59 730.10 Td (wholly ) Tj ET Q q 0 0 0 rg BT 293.33 730.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 321.95 730.10 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 362.41 730.10 Td (, ) Tj ET Q q 0 0 0 rg BT 366.87 730.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 396.04 730.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 427.44 730.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 468.27 730.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 509.11 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 519.40 730.10 Td (New ) Tj ET Q q 0 0 0 rg BT 539.96 730.10 Td (Y) Tj ET Q q 0 0 0 rg BT 546.18 730.10 Td (ork, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (along ) Tj ET Q q 0 0 0 rg BT 74.90 718.10 Td (with ) Tj ET Q q 0 0 0 rg BT 95.37 718.10 Td (its ) Tj ET Q q 0 0 0 rg BT 107.50 718.10 Td (af) Tj ET Q q 0 0 0 rg BT 115.09 718.10 Td (filiated ) Tj ET Q q 0 0 0 rg BT 146.09 718.10 Td (entities, ) Tj ET Q q 0 0 0 rg BT 179.57 718.10 Td (Anchor ) Tj ET Q q 0 0 0 rg BT 212.24 718.10 Td (Group ) Tj ET Q q 0 0 0 rg BT 240.48 718.10 Td (Management, ) Tj ET Q q 0 0 0 rg BT 297.87 718.10 Td (Plainview ) Tj ET Q q 0 0 0 rg BT 340.55 718.10 Td (Premium ) Tj ET Q q 0 0 0 rg BT 379.90 718.10 Td (Finance ) Tj ET Q q 0 0 0 rg BT 414.24 718.10 Td (Company) Tj ET Q q 0 0 0 rg BT 452.48 718.10 Td (, ) Tj ET Q q 0 0 0 rg BT 457.66 718.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 475.62 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 492.74 718.10 Td (its ) Tj ET Q q 0 0 0 rg BT 504.88 718.10 Td (wholly ) Tj ET Q q 0 0 0 rg BT 535.34 718.10 Td (owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 93.68 706.10 Td (Plainview ) Tj ET Q q 0 0 0 rg BT 136.25 706.10 Td (Premium ) Tj ET Q q 0 0 0 rg BT 175.49 706.10 Td (Finance ) Tj ET Q q 0 0 0 rg BT 209.72 706.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 251.18 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 262.08 706.10 Td (California, ) Tj ET Q q 0 0 0 rg BT 307.70 706.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 328.04 706.10 Td (or ) Tj ET Q q 0 0 0 rg BT 338.94 706.10 Td (collectively ) Tj ET Q q 0 0 0 rg BT 388.16 706.10 Td ("Global ) Tj ET Q q 0 0 0 rg BT 422.03 706.10 Td (Liberty", ) Tj ET Q q 0 0 0 rg BT 460.62 706.10 Td (from ) Tj ET Q q 0 0 0 rg BT 482.63 706.10 Td (an ) Tj ET Q q 0 0 0 rg BT 494.64 706.10 Td (unaf) Tj ET Q q 0 0 0 rg BT 512.23 706.10 Td (filiated ) Tj ET Q q 0 0 0 rg BT 543.13 706.10 Td (third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (party) Tj ET Q q 0 0 0 rg BT 69.90 694.10 Td (. ) Tj ET Q q 0 0 0 rg BT 74.77 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 83.41 694.10 Td (e ) Tj ET Q q 0 0 0 rg BT 90.40 694.10 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 131.83 694.10 Td (consummating ) Tj ET Q q 0 0 0 rg BT 193.27 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.04 694.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 254.47 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 264.81 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 279.58 694.10 Td (first ) Tj ET Q q 0 0 0 rg BT 298.25 694.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 329.12 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 340.01 694.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 362.57 694.10 Td (\(having ) Tj ET Q q 0 0 0 rg BT 395.67 694.10 Td (received ) Tj ET Q q 0 0 0 rg BT 432.09 694.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 475.74 694.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 513.29 694.10 Td (on ) Tj ET Q q 0 0 0 rg BT 525.84 694.10 Td (March ) Tj ET Q q 0 0 0 rg BT 554.50 694.10 Td (4, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (2015\). ) Tj ET Q q 0 0 0 rg BT 78.01 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 80.19 682.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 109.58 682.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 141.20 682.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 177.81 682.10 Td (specialized ) Tj ET Q q 0 0 0 rg BT 224.41 682.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 273.79 682.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 314.28 682.10 Td (products, ) Tj ET Q q 0 0 0 rg BT 353.40 682.10 Td (including ) Tj ET Q q 0 0 0 rg BT 393.35 682.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 442.73 682.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 489.90 682.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 530.40 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 540.35 682.10 Td (niche ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 84.16 670.10 Td (such ) Tj ET Q q 0 0 0 rg BT 104.99 670.10 Td (as ) Tj ET Q q 0 0 0 rg BT 115.82 670.10 Td (taxi, ) Tj ET Q q 0 0 0 rg BT 135.81 670.10 Td (black ) Tj ET Q q 0 0 0 rg BT 159.97 670.10 Td (car ) Tj ET Q q 0 0 0 rg BT 174.67 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 191.61 670.10 Td (sedan ) Tj ET Q q 0 0 0 rg BT 216.88 670.10 Td (service ) Tj ET Q q 0 0 0 rg BT 247.70 670.10 Td (owners ) Tj ET Q q 0 0 0 rg BT 279.08 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 296.02 670.10 Td (operators ) Tj ET Q q 0 0 0 rg BT 335.72 670.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 375.43 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 385.71 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 400.43 670.10 Td (New ) Tj ET Q q 0 0 0 rg BT 421.44 670.10 Td (Y) Tj ET Q q 0 0 0 rg BT 427.66 670.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 443.49 670.10 Td (market.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (Substantially ) Tj ET Q q 0 0 0 rg BT 104.41 646.10 Td (all ) Tj ET Q q 0 0 0 rg BT 116.60 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 127.12 646.10 Td (our ) Tj ET Q q 0 0 0 rg BT 142.64 646.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 184.82 646.10 Td (written ) Tj ET Q q 0 0 0 rg BT 215.34 646.10 Td (are ) Tj ET Q q 0 0 0 rg BT 229.73 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 239.70 646.10 Td (light ) Tj ET Q q 0 0 0 rg BT 269.10 646.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 318.49 646.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 365.67 646.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 386.75 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 397.27 646.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 435.85 646.10 Td (In ) Tj ET Q q 0 0 0 rg BT 446.37 646.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.78 646.10 Td (year ) Tj ET Q q 0 0 0 rg BT 480.17 646.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 506.24 646.10 Td (December ) Tj ET Q q 0 0 0 rg BT 549.51 646.10 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 634.10 Td (, ) Tj ET Q q 0 0 0 rg BT 74.77 634.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 98.16 634.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 136.54 634.10 Td (written ) Tj ET Q q 0 0 0 rg BT 167.13 634.10 Td (from ) Tj ET Q q 0 0 0 rg BT 188.85 634.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 238.32 634.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 285.58 634.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.40 634.10 Td ($1) Tj ET Q q 0 0 0 rg BT 313.03 634.10 Td (19.5 ) Tj ET Q q 0 0 0 rg BT 332.81 634.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.70 634.10 Td (, ) Tj ET Q q 0 0 0 rg BT 366.47 634.10 Td (representing ) Tj ET Q q 0 0 0 rg BT 418.17 634.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.88 634.10 Td (35.0%) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 450.71 641.03 2.27 -9.09 re f /GS0 gs q 0 0 0 rg BT 450.71 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 452.98 641.03 32.75 -9.09 re f /GS0 gs q 0 0 0 rg BT 452.98 634.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.73 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 488.01 634.10 Td (relative ) Tj ET Q q 0 0 0 rg BT 520.26 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 530.31 634.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 634.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 75.59 622.10 Td (December ) Tj ET Q q 0 0 0 rg BT 118.38 622.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 132.59 622.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.59 622.10 Td (. ) Tj ET Q q 0 0 0 rg BT 156.42 622.10 Td (As ) Tj ET Q q 0 0 0 rg BT 169.25 622.10 Td (a ) Tj ET Q q 0 0 0 rg BT 175.40 622.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 220.41 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 230.45 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 244.38 622.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 284.40 622.10 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 334.21 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 335.92 622.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 365.39 622.10 Td (book ) Tj ET Q q 0 0 0 rg BT 387.10 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 397.14 622.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 435.24 622.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 484.15 622.10 Td (auto ) Tj ET Q q 0 0 0 rg BT 503.08 622.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 525.90 622.10 Td (premium ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (written ) Tj ET Q q 0 0 0 rg BT 81.20 610.10 Td (represented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.16 610.10 Td (97.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.99 610.10 Td ( ) Tj ET Q q 0 0 0 rg BT 158.87 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 170.08 610.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 194.07 610.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 233.05 610.10 Td (written ) Tj ET Q q 0 0 0 rg BT 264.25 610.10 Td (in ) Tj ET Q q 0 0 0 rg BT 274.91 610.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.00 610.10 Td (year ) Tj ET Q q 0 0 0 rg BT 310.09 610.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 336.84 610.10 Td (December ) Tj ET Q q 0 0 0 rg BT 380.80 610.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 396.18 610.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.18 610.10 Td ( ) Tj ET Q q 0 0 0 rg BT 419.06 610.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 461.36 610.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.02 610.10 Td (95.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.85 610.10 Td ( ) Tj ET Q q 0 0 0 rg BT 500.72 610.10 Td (during ) Tj ET Q q 0 0 0 rg BT 529.71 610.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 610.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 76.38 598.10 Td (December ) Tj ET Q q 0 0 0 rg BT 119.96 598.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 134.96 598.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 598.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 574.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.78 574.10 Td (are ) Tj ET Q q 0 0 0 rg BT 80.70 574.10 Td (committed ) Tj ET Q q 0 0 0 rg BT 126.17 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 136.66 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 151.58 574.10 Td (light ) Tj ET Q q 0 0 0 rg BT 181.50 574.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 231.41 574.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 279.11 574.10 Td (and ) Tj ET Q q 0 0 0 rg BT 296.25 574.10 Td (related ) Tj ET Q q 0 0 0 rg BT 326.16 574.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 347.76 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 358.79 574.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 397.89 574.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 416.15 574.10 Td (current ) Tj ET Q q 0 0 0 rg BT 447.18 574.10 Td (geographic ) Tj ET Q q 0 0 0 rg BT 494.31 574.10 Td (footprint ) Tj ET Q q 0 0 0 rg BT 532.01 574.10 Td (focuses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (on ) Tj ET Q q 0 0 0 rg BT 61.95 562.10 Td (40 ) Tj ET Q q 0 0 0 rg BT 73.91 562.10 Td (states ) Tj ET Q q 0 0 0 rg BT 98.08 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 114.47 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.65 562.10 Td (District ) Tj ET Q q 0 0 0 rg BT 160.59 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 170.88 562.10 Td (Columbia.) Tj ET Q q 0 0 0 rg BT 215.14 562.10 Td (T) Tj ET Q q 0 0 0 rg BT 220.55 562.10 Td (ogether) Tj ET Q q 0 0 0 rg BT 250.14 562.10 Td (, ) Tj ET Q q 0 0 0 rg BT 254.59 562.10 Td (our ) Tj ET Q q 0 0 0 rg BT 269.88 562.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 310.15 562.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 359.32 562.10 Td (are ) Tj ET Q q 0 0 0 rg BT 373.48 562.10 Td (licensed ) Tj ET Q q 0 0 0 rg BT 408.20 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 417.93 562.10 Td (write ) Tj ET Q q 0 0 0 rg BT 440.43 562.10 Td (property ) Tj ET Q q 0 0 0 rg BT 476.26 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 492.66 562.10 Td (casualty) Tj ET Q q 0 0 0 rg BT 524.77 562.10 Td (, ) Tj ET Q q 0 0 0 rg BT 529.23 562.10 Td (or ) Tj ET Q q 0 0 0 rg BT 539.51 562.10 Td (P&C, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 90.82 550.10 Td (in ) Tj ET Q q 0 0 0 rg BT 101.09 550.10 Td (49 ) Tj ET Q q 0 0 0 rg BT 113.59 550.10 Td (states ) Tj ET Q q 0 0 0 rg BT 138.31 550.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 157.48 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 172.20 550.10 Td (District ) Tj ET Q q 0 0 0 rg BT 204.69 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 215.52 550.10 Td (Columbia ) Tj ET Q q 0 0 0 rg BT 257.47 550.10 Td (in ) Tj ET Q q 0 0 0 rg BT 267.74 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 282.46 550.10 Td (United ) Tj ET Q q 0 0 0 rg BT 312.18 550.10 Td (States. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.40 526.10 Td (address ) Tj ET Q q 0 0 0 rg BT 99.25 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.44 526.10 Td (our ) Tj ET Q q 0 0 0 rg BT 124.63 526.10 Td (registered ) Tj ET Q q 0 0 0 rg BT 165.91 526.10 Td (of) Tj ET Q q 0 0 0 rg BT 174.06 526.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 190.90 526.10 Td (is ) Tj ET Q q 0 0 0 rg BT 199.42 526.10 Td (Cricket ) Tj ET Q q 0 0 0 rg BT 230.71 526.10 Td (Square, ) Tj ET Q q 0 0 0 rg BT 262.84 526.10 Td (Hutchins ) Tj ET Q q 0 0 0 rg BT 300.81 526.10 Td (Drive, ) Tj ET Q q 0 0 0 rg BT 327.93 526.10 Td (PO ) Tj ET Q q 0 0 0 rg BT 342.57 526.10 Td (Box ) Tj ET Q q 0 0 0 rg BT 361.10 526.10 Td (2681, ) Tj ET Q q 0 0 0 rg BT 385.46 526.10 Td (Grand ) Tj ET Q q 0 0 0 rg BT 412.30 526.10 Td (Cayman, ) Tj ET Q q 0 0 0 rg BT 449.98 526.10 Td (KY1-1) Tj ET Q q 0 0 0 rg BT 477.39 526.10 Td (1) Tj ET Q q 0 0 0 rg BT 482.02 526.10 Td (1) Tj ET Q q 0 0 0 rg BT 486.64 526.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 496.00 526.10 Td (Cayman ) Tj ET Q q 0 0 0 rg BT 531.18 526.10 Td (Islands. ) Tj ET Q q 0 0 0 rg BT 564.51 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.83 514.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 107.88 514.10 Td (headquarters ) Tj ET Q q 0 0 0 rg BT 161.25 514.10 Td (are ) Tj ET Q q 0 0 0 rg BT 175.74 514.10 Td (located ) Tj ET Q q 0 0 0 rg BT 206.89 514.10 Td (at ) Tj ET Q q 0 0 0 rg BT 216.39 514.10 Td (150 ) Tj ET Q q 0 0 0 rg BT 233.67 514.10 Td (Northwest ) Tj ET Q q 0 0 0 rg BT 277.62 514.10 Td (Point ) Tj ET Q q 0 0 0 rg BT 301.02 514.10 Td (Boulevard, ) Tj ET Q q 0 0 0 rg BT 347.46 514.10 Td (Elk ) Tj ET Q q 0 0 0 rg BT 363.63 514.10 Td (Grove ) Tj ET Q q 0 0 0 rg BT 390.73 514.10 Td (V) Tj ET Q q 0 0 0 rg BT 397.35 514.10 Td (illage, ) Tj ET Q q 0 0 0 rg BT 424.35 514.10 Td (Illinois ) Tj ET Q q 0 0 0 rg BT 454.97 514.10 Td (60007, ) Tj ET Q q 0 0 0 rg BT 484.75 514.10 Td (USA. ) Tj ET Q q 0 0 0 rg BT 509.54 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 511.65 514.10 Td (W) Tj ET Q q 0 0 0 rg BT 520.29 514.10 Td (e ) Tj ET Q q 0 0 0 rg BT 527.01 514.10 Td (maintain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (a ) Tj ET Q q 0 0 0 rg BT 57.06 502.10 Td (website ) Tj ET Q q 0 0 0 rg BT 90.24 502.10 Td (at ) Tj ET Q q 0 0 0 rg BT 100.08 502.10 Td (http://www) Tj ET Q q 0 0 0 rg BT 144.99 502.10 Td (.atlas-fin.com. ) Tj ET Q q 0 0 0 rg BT 205.09 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 207.72 502.10 Td (Information ) Tj ET Q q 0 0 0 rg BT 258.11 502.10 Td (on ) Tj ET Q q 0 0 0 rg BT 270.74 502.10 Td (our ) Tj ET Q q 0 0 0 rg BT 286.69 502.10 Td (website ) Tj ET Q q 0 0 0 rg BT 319.86 502.10 Td (or ) Tj ET Q q 0 0 0 rg BT 330.82 502.10 Td (any ) Tj ET Q q 0 0 0 rg BT 347.88 502.10 Td (other ) Tj ET Q q 0 0 0 rg BT 371.06 502.10 Td (website ) Tj ET Q q 0 0 0 rg BT 404.23 502.10 Td (does ) Tj ET Q q 0 0 0 rg BT 425.19 502.10 Td (not ) Tj ET Q q 0 0 0 rg BT 440.59 502.10 Td (constitute ) Tj ET Q q 0 0 0 rg BT 482.10 502.10 Td (a ) Tj ET Q q 0 0 0 rg BT 489.16 502.10 Td (part ) Tj ET Q q 0 0 0 rg BT 507.34 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.29 502.10 Td (this ) Tj ET Q q 0 0 0 rg BT 535.37 502.10 Td (annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (report ) Tj ET Q q 0 0 0 rg BT 76.38 490.10 Td (on ) Tj ET Q q 0 0 0 rg BT 88.88 490.10 Td (Form ) Tj ET Q q 0 0 0 rg BT 113.05 490.10 Td (10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (Market) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.20 442.10 Td (core ) Tj ET Q q 0 0 0 rg BT 86.05 442.10 Td (business ) Tj ET Q q 0 0 0 rg BT 121.59 442.10 Td (is ) Tj ET Q q 0 0 0 rg BT 129.90 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.76 442.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 197.07 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 207.04 442.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 255.88 442.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 302.52 442.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 342.48 442.10 Td (policies, ) Tj ET Q q 0 0 0 rg BT 377.73 442.10 Td (focusing ) Tj ET Q q 0 0 0 rg BT 413.81 442.10 Td (on ) Tj ET Q q 0 0 0 rg BT 425.46 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.32 442.10 Td (light ) Tj ET Q q 0 0 0 rg BT 468.18 442.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 517.02 442.10 Td (automobile ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (sector) Tj ET Q q 0 0 0 rg BT 73.33 430.10 Td (. ) Tj ET Q q 0 0 0 rg BT 77.46 430.10 Td (The ) Tj ET Q q 0 0 0 rg BT 94.78 430.10 Td (light ) Tj ET Q q 0 0 0 rg BT 123.76 430.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 172.72 430.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 219.48 430.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 252.35 430.10 Td (we ) Tj ET Q q 0 0 0 rg BT 265.77 430.10 Td (underwrite ) Tj ET Q q 0 0 0 rg BT 310.86 430.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 343.17 430.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 381.02 430.10 Td (for ) Tj ET Q q 0 0 0 rg BT 394.45 430.10 Td (light ) Tj ET Q q 0 0 0 rg BT 414.55 430.10 Td (weight ) Tj ET Q q 0 0 0 rg BT 443.53 430.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 492.50 430.10 Td (vehicles ) Tj ET Q q 0 0 0 rg BT 527.03 430.10 Td (typically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (with ) Tj ET Q q 0 0 0 rg BT 70.00 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 84.45 418.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 125.57 418.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 150.58 418.10 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 194.45 418.10 Td (by ) Tj ET Q q 0 0 0 rg BT 206.67 418.10 Td (statute, ) Tj ET Q q 0 0 0 rg BT 237.50 418.10 Td (municipal ) Tj ET Q q 0 0 0 rg BT 279.72 418.10 Td (or ) Tj ET Q q 0 0 0 rg BT 290.28 418.10 Td (other ) Tj ET Q q 0 0 0 rg BT 313.05 418.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 356.37 418.10 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 413.14 418.10 Td (The ) Tj ET Q q 0 0 0 rg BT 430.91 418.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 467.02 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 477.58 418.10 Td (our ) Tj ET Q q 0 0 0 rg BT 493.13 418.10 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 549.79 418.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 93.05 406.10 Td (owners ) Tj ET Q q 0 0 0 rg BT 124.43 406.10 Td (or ) Tj ET Q q 0 0 0 rg BT 135.26 406.10 Td (small ) Tj ET Q q 0 0 0 rg BT 159.43 406.10 Td (fleet ) Tj ET Q q 0 0 0 rg BT 179.69 406.10 Td (operators.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.84 382.10 Td (light ) Tj ET Q q 0 0 0 rg BT 99.34 382.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 149.83 382.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 198.12 382.10 Td (sector ) Tj ET Q q 0 0 0 rg BT 225.29 382.10 Td (is ) Tj ET Q q 0 0 0 rg BT 235.25 382.10 Td (a ) Tj ET Q q 0 0 0 rg BT 242.98 382.10 Td (subset ) Tj ET Q q 0 0 0 rg BT 271.27 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.89 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 298.40 382.10 Td (historically ) Tj ET Q q 0 0 0 rg BT 346.69 382.10 Td (profitable ) Tj ET Q q 0 0 0 rg BT 388.85 382.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 439.34 382.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 487.62 382.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 529.23 382.10 Td (industry ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (segment. ) Tj ET Q q 0 0 0 rg BT 88.55 370.10 Td (Commercial ) Tj ET Q q 0 0 0 rg BT 140.70 370.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 188.41 370.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 229.44 370.10 Td (has ) Tj ET Q q 0 0 0 rg BT 245.50 370.10 Td (outperformed ) Tj ET Q q 0 0 0 rg BT 302.64 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 317.58 370.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 348.06 370.10 Td (P&C ) Tj ET Q q 0 0 0 rg BT 370.79 370.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 406.29 370.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 446.22 370.10 Td (over ) Tj ET Q q 0 0 0 rg BT 466.71 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 481.65 370.10 Td (past ) Tj ET Q q 0 0 0 rg BT 500.47 370.10 Td (ten ) Tj ET Q q 0 0 0 rg BT 515.41 370.10 Td (years ) Tj ET Q q 0 0 0 rg BT 539.23 370.10 Td (based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (on ) Tj ET Q q 0 0 0 rg BT 61.43 358.10 Td (data ) Tj ET Q q 0 0 0 rg BT 79.51 358.10 Td (compiled ) Tj ET Q q 0 0 0 rg BT 118.14 358.10 Td (by ) Tj ET Q q 0 0 0 rg BT 129.57 358.10 Td (SNL) Tj ET Q q 0 0 0 rg BT 148.09 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.52 358.10 Td (Financial. ) Tj ET Q q 0 0 0 rg BT 190.55 358.10 Td (The ) Tj ET Q q 0 0 0 rg BT 207.52 358.10 Td (data ) Tj ET Q q 0 0 0 rg BT 225.60 358.10 Td (compiled ) Tj ET Q q 0 0 0 rg BT 264.24 358.10 Td (by ) Tj ET Q q 0 0 0 rg BT 275.67 358.10 Td (SNL) Tj ET Q q 0 0 0 rg BT 294.19 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 295.61 358.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 334.25 358.10 Td (also ) Tj ET Q q 0 0 0 rg BT 351.79 358.10 Td (indicates ) Tj ET Q q 0 0 0 rg BT 388.75 358.10 Td (that ) Tj ET Q q 0 0 0 rg BT 405.18 358.10 Td (for ) Tj ET Q q 0 0 0 rg BT 418.26 358.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 439.69 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 453.33 358.10 Td (total ) Tj ET Q q 0 0 0 rg BT 472.53 358.10 Td (market ) Tj ET Q q 0 0 0 rg BT 501.72 358.10 Td (for ) Tj ET Q q 0 0 0 rg BT 514.80 358.10 Td (commercial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 97.97 346.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 132.06 346.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 173.35 346.10 Td (was ) Tj ET Q q 0 0 0 rg BT 191.88 346.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 252.62 346.10 Td ($24 ) Tj ET Q q 0 0 0 rg BT 270.60 346.10 Td (billion. ) Tj ET Q q 0 0 0 rg BT 301.97 346.10 Td (The ) Tj ET Q q 0 0 0 rg BT 320.50 346.10 Td (size ) Tj ET Q q 0 0 0 rg BT 339.02 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 350.33 346.10 Td (the ) Tj ET Q q 0 0 0 rg BT 365.53 346.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 415.70 346.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 463.67 346.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 504.97 346.10 Td (market ) Tj ET Q q 0 0 0 rg BT 535.71 346.10 Td (can ) Tj ET Q q 0 0 0 rg BT 552.56 346.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 334.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 84.63 334.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 137.25 334.10 Td (by ) Tj ET Q q 0 0 0 rg BT 149.87 334.10 Td (many ) Tj ET Q q 0 0 0 rg BT 174.71 334.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 207.04 334.10 Td (such ) Tj ET Q q 0 0 0 rg BT 227.99 334.10 Td (as ) Tj ET Q q 0 0 0 rg BT 238.94 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.78 334.10 Td (total ) Tj ET Q q 0 0 0 rg BT 274.17 334.10 Td (number ) Tj ET Q q 0 0 0 rg BT 307.34 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 318.30 334.10 Td (vehicles ) Tj ET Q q 0 0 0 rg BT 353.68 334.10 Td (insured, ) Tj ET Q q 0 0 0 rg BT 388.24 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 403.08 334.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 457.36 334.10 Td (capacity ) Tj ET Q q 0 0 0 rg BT 493.29 334.10 Td (and ) Tj ET Q q 0 0 0 rg BT 510.35 334.10 Td (underwriting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (criteria ) Tj ET Q q 0 0 0 rg BT 81.65 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.32 322.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 141.65 322.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 183.30 322.10 Td (carriers ) Tj ET Q q 0 0 0 rg BT 216.62 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 234.39 322.10 Td (general ) Tj ET Q q 0 0 0 rg BT 267.16 322.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 309.37 322.10 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 356.87 322.10 Td (Historically) Tj ET Q q 0 0 0 rg BT 403.43 322.10 Td (, ) Tj ET Q q 0 0 0 rg BT 409.27 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 424.83 322.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 475.36 322.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 523.69 322.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (market ) Tj ET Q q 0 0 0 rg BT 80.28 310.10 Td (has ) Tj ET Q q 0 0 0 rg BT 96.13 310.10 Td (been ) Tj ET Q q 0 0 0 rg BT 117.52 310.10 Td (characterized ) Tj ET Q q 0 0 0 rg BT 173.32 310.10 Td (by ) Tj ET Q q 0 0 0 rg BT 185.84 310.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 217.79 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 228.64 310.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 257.25 310.10 Td (capacity ) Tj ET Q q 0 0 0 rg BT 293.08 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 310.03 310.10 Td (price ) Tj ET Q q 0 0 0 rg BT 332.54 310.10 Td (competition ) Tj ET Q q 0 0 0 rg BT 382.82 310.10 Td (followed ) Tj ET Q q 0 0 0 rg BT 420.88 310.10 Td (by ) Tj ET Q q 0 0 0 rg BT 433.40 310.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 465.35 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 476.20 310.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 510.36 310.10 Td (underwriting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (capacity ) Tj ET Q q 0 0 0 rg BT 85.81 298.10 Td (and ) Tj ET Q q 0 0 0 rg BT 102.75 298.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 130.80 298.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 169.40 298.10 Td (rates. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 274.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.63 274.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 97.06 274.10 Td (that ) Tj ET Q q 0 0 0 rg BT 114.60 274.10 Td (there ) Tj ET Q q 0 0 0 rg BT 137.14 274.10 Td (is ) Tj ET Q q 0 0 0 rg BT 146.37 274.10 Td (a ) Tj ET Q q 0 0 0 rg BT 153.36 274.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 187.58 274.10 Td (correlation ) Tj ET Q q 0 0 0 rg BT 233.44 274.10 Td (between ) Tj ET Q q 0 0 0 rg BT 269.31 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.08 274.10 Td (economy ) Tj ET Q q 0 0 0 rg BT 323.29 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 340.28 274.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 390.03 274.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 437.58 274.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 478.45 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 488.78 274.10 Td (general. ) Tj ET Q q 0 0 0 rg BT 523.26 274.10 Td (However) Tj ET Q q 0 0 0 rg BT 559.51 274.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (operators ) Tj ET Q q 0 0 0 rg BT 89.70 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 100.53 262.10 Td (light ) Tj ET Q q 0 0 0 rg BT 130.23 262.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 179.93 262.10 Td (automobiles ) Tj ET Q q 0 0 0 rg BT 231.30 262.10 Td (may ) Tj ET Q q 0 0 0 rg BT 251.02 262.10 Td (be ) Tj ET Q q 0 0 0 rg BT 262.95 262.10 Td (less ) Tj ET Q q 0 0 0 rg BT 280.44 262.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 305.71 262.10 Td (than ) Tj ET Q q 0 0 0 rg BT 325.42 262.10 Td (other ) Tj ET Q q 0 0 0 rg BT 348.47 262.10 Td (business ) Tj ET Q q 0 0 0 rg BT 384.85 262.10 Td (segments ) Tj ET Q q 0 0 0 rg BT 424.57 262.10 Td (within ) Tj ET Q q 0 0 0 rg BT 452.62 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.33 262.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 517.02 262.10 Td (automobile ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 91.45 250.10 Td (market ) Tj ET Q q 0 0 0 rg BT 122.35 250.10 Td (to ) Tj ET Q q 0 0 0 rg BT 133.27 250.10 Td (take ) Tj ET Q q 0 0 0 rg BT 153.06 250.10 Td (vehicles ) Tj ET Q q 0 0 0 rg BT 188.96 250.10 Td (out ) Tj ET Q q 0 0 0 rg BT 204.88 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 216.35 250.10 Td (service ) Tj ET Q q 0 0 0 rg BT 247.80 250.10 Td (as ) Tj ET Q q 0 0 0 rg BT 259.27 250.10 Td (their ) Tj ET Q q 0 0 0 rg BT 280.73 250.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 326.09 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 343.66 250.10 Td (business ) Tj ET Q q 0 0 0 rg BT 380.69 250.10 Td (reputations ) Tj ET Q q 0 0 0 rg BT 428.26 250.10 Td (rely ) Tj ET Q q 0 0 0 rg BT 446.95 250.10 Td (heavily ) Tj ET Q q 0 0 0 rg BT 479.52 250.10 Td (on ) Tj ET Q q 0 0 0 rg BT 492.65 250.10 Td (availability) Tj ET Q q 0 0 0 rg BT 536.99 250.10 Td (. ) Tj ET Q q 0 0 0 rg BT 542.40 250.10 Td (W) Tj ET Q q 0 0 0 rg BT 551.44 250.10 Td (ith ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 80.57 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 90.61 238.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 120.06 238.10 Td (business ) Tj ET Q q 0 0 0 rg BT 156.21 238.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 177.35 238.10 Td (such ) Tj ET Q q 0 0 0 rg BT 197.94 238.10 Td (as ) Tj ET Q q 0 0 0 rg BT 208.53 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 223.00 238.10 Td (taxi ) Tj ET Q q 0 0 0 rg BT 240.25 238.10 Td (line, ) Tj ET Q q 0 0 0 rg BT 260.00 238.10 Td (there ) Tj ET Q q 0 0 0 rg BT 282.24 238.10 Td (are ) Tj ET Q q 0 0 0 rg BT 296.70 238.10 Td (also ) Tj ET Q q 0 0 0 rg BT 315.07 238.10 Td (other ) Tj ET Q q 0 0 0 rg BT 337.87 238.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 367.33 238.10 Td (such ) Tj ET Q q 0 0 0 rg BT 387.92 238.10 Td (as ) Tj ET Q q 0 0 0 rg BT 398.51 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 412.98 238.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 431.34 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 448.04 238.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 478.62 238.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 507.55 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.13 238.10 Td (medallions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.62 226.10 Td (may ) Tj ET Q q 0 0 0 rg BT 96.02 226.10 Td (discourage ) Tj ET Q q 0 0 0 rg BT 141.52 226.10 Td (a ) Tj ET Q q 0 0 0 rg BT 148.15 226.10 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 200.87 226.10 Td (from ) Tj ET Q q 0 0 0 rg BT 222.49 226.10 Td (taking ) Tj ET Q q 0 0 0 rg BT 249.67 226.10 Td (vehicles ) Tj ET Q q 0 0 0 rg BT 284.62 226.10 Td (out ) Tj ET Q q 0 0 0 rg BT 299.58 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 310.10 226.10 Td (service ) Tj ET Q q 0 0 0 rg BT 340.60 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 350.56 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 364.96 226.10 Td (face ) Tj ET Q q 0 0 0 rg BT 383.79 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 394.30 226.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 428.13 226.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 461.97 226.10 Td (for ) Tj ET Q q 0 0 0 rg BT 475.82 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 490.22 226.10 Td (use ) Tj ET Q q 0 0 0 rg BT 505.73 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 516.25 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.65 226.10 Td (vehicle. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (Acquisition of Global Liberty) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 79.03 178.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 110.27 178.10 Td (is ) Tj ET Q q 0 0 0 rg BT 118.75 178.10 Td (a ) Tj ET Q q 0 0 0 rg BT 125.00 178.10 Td (New ) Tj ET Q q 0 0 0 rg BT 145.42 178.10 Td (Y) Tj ET Q q 0 0 0 rg BT 151.64 178.10 Td (ork-based ) Tj ET Q q 0 0 0 rg BT 192.88 178.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 233.00 178.10 Td (company ) Tj ET Q q 0 0 0 rg BT 271.46 178.10 Td (that ) Tj ET Q q 0 0 0 rg BT 288.27 178.10 Td (was ) Tj ET Q q 0 0 0 rg BT 305.63 178.10 Td (writing ) Tj ET Q q 0 0 0 rg BT 336.33 178.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 395.89 178.10 Td ($40.0 ) Tj ET Q q 0 0 0 rg BT 420.20 178.10 Td (million ) Tj ET Q q 0 0 0 rg BT 450.90 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 461.04 178.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 489.51 178.10 Td (taxi ) Tj ET Q q 0 0 0 rg BT 506.31 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 522.56 178.10 Td (limousine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (net ) Tj ET Q q 0 0 0 rg BT 64.69 166.10 Td (written ) Tj ET Q q 0 0 0 rg BT 95.48 166.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 134.06 166.10 Td (in ) Tj ET Q q 0 0 0 rg BT 144.31 166.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 178.43 166.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 212.00 166.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 252.22 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 261.93 166.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 285.50 166.10 Td (at ) Tj ET Q q 0 0 0 rg BT 295.19 166.10 Td (the ) Tj ET Q q 0 0 0 rg BT 309.88 166.10 Td (time ) Tj ET Q q 0 0 0 rg BT 330.12 166.10 Td (of ) Tj ET Q q 0 0 0 rg BT 340.92 166.10 Td (our ) Tj ET Q q 0 0 0 rg BT 356.73 166.10 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 405.58 166.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 435.27 166.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 467.17 166.10 Td (is ) Tj ET Q q 0 0 0 rg BT 476.31 166.10 Td (an ) Tj ET Q q 0 0 0 rg BT 488.22 166.10 Td (admitted ) Tj ET Q q 0 0 0 rg BT 525.68 166.10 Td (carrier ) Tj ET Q q 0 0 0 rg BT 554.23 166.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (13 ) Tj ET Q q 0 0 0 rg BT 61.48 154.10 Td (states ) Tj ET Q q 0 0 0 rg BT 85.18 154.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 103.33 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.03 154.10 Td (District ) Tj ET Q q 0 0 0 rg BT 148.51 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 158.32 154.10 Td (Columbia. ) Tj ET Q q 0 0 0 rg BT 201.42 154.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 225.81 154.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 271.17 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 280.99 154.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 309.69 154.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 340.60 154.10 Td (will ) Tj ET Q q 0 0 0 rg BT 357.64 154.10 Td (expand ) Tj ET Q q 0 0 0 rg BT 388.00 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 402.81 154.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 450.41 154.10 Td (channel ) Tj ET Q q 0 0 0 rg BT 482.98 154.10 Td (for ) Tj ET Q q 0 0 0 rg BT 496.12 154.10 Td (core ) Tj ET Q q 0 0 0 rg BT 514.81 154.10 Td (commercial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 97.49 142.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 118.88 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 135.82 142.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 172.75 142.10 Td (valuable ) Tj ET Q q 0 0 0 rg BT 209.13 142.10 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 265.49 142.10 Td (in ) Tj ET Q q 0 0 0 rg BT 275.77 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 290.48 142.10 Td (lar) Tj ET Q q 0 0 0 rg BT 300.85 142.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 312.79 142.10 Td (New ) Tj ET Q q 0 0 0 rg BT 333.80 142.10 Td (Y) Tj ET Q q 0 0 0 rg BT 340.02 142.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 355.85 142.10 Td (market. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 78.03 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 93.29 118.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 118.54 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 129.91 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.17 118.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 169.32 118.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 207.89 118.10 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 255.07 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 270.33 118.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 308.91 118.10 Td (price ) Tj ET Q q 0 0 0 rg BT 331.93 118.10 Td (will ) Tj ET Q q 0 0 0 rg BT 350.53 118.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 375.22 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 390.48 118.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 432.95 118.10 Td (book ) Tj ET Q q 0 0 0 rg BT 455.99 118.10 Td (value ) Tj ET Q q 0 0 0 rg BT 480.69 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 492.06 118.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 522.31 118.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 554.79 118.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (December ) Tj ET Q q 0 0 0 rg BT 93.11 106.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 107.64 106.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 132.16 106.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 162.51 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 172.32 106.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 201.55 106.10 Td (pre ) Tj ET Q q 0 0 0 rg BT 216.34 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.81 106.10 Td (post-closing ) Tj ET Q q 0 0 0 rg BT 283.72 106.10 Td (adjustments, ) Tj ET Q q 0 0 0 rg BT 336.02 106.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 378.32 106.10 Td (among ) Tj ET Q q 0 0 0 rg BT 407.56 106.10 Td (others, ) Tj ET Q q 0 0 0 rg BT 436.53 106.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 460.77 106.10 Td (development ) Tj ET Q q 0 0 0 rg BT 514.44 106.10 Td (between ) Tj ET Q q 0 0 0 rg BT 549.79 106.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (signing ) Tj ET Q q 0 0 0 rg BT 82.21 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.30 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 108.28 94.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 132.15 94.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 170.45 94.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 214.85 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.05 94.10 Td (December ) Tj ET Q q 0 0 0 rg BT 275.89 94.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 291.15 94.10 Td (2014. ) Tj ET Q q 0 0 0 rg BT 315.81 94.10 Td (Additional ) Tj ET Q q 0 0 0 rg BT 361.34 94.10 Td (consideration, ) Tj ET Q q 0 0 0 rg BT 420.47 94.10 Td (principally ) Tj ET Q q 0 0 0 rg BT 466.56 94.10 Td (in ) Tj ET Q q 0 0 0 rg BT 477.10 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 492.07 94.10 Td (form ) Tj ET Q q 0 0 0 rg BT 514.27 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 525.36 94.10 Td (preferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 80.11 82.10 Td (may ) Tj ET Q q 0 0 0 rg BT 99.95 82.10 Td (be ) Tj ET Q q 0 0 0 rg BT 112.01 82.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 131.85 82.10 Td (to ) Tj ET Q q 0 0 0 rg BT 142.25 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.08 82.10 Td (seller) Tj ET Q q 0 0 0 rg BT 178.34 82.10 Td (, ) Tj ET Q q 0 0 0 rg BT 183.46 82.10 Td (or ) Tj ET Q q 0 0 0 rg BT 194.41 82.10 Td (returned ) Tj ET Q q 0 0 0 rg BT 230.35 82.10 Td (to ) Tj ET Q q 0 0 0 rg BT 240.75 82.10 Td (us ) Tj ET Q q 0 0 0 rg BT 252.26 82.10 Td (by ) Tj ET Q q 0 0 0 rg BT 264.88 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 279.72 82.10 Td (seller) Tj ET Q q 0 0 0 rg BT 300.97 82.10 Td (, ) Tj ET Q q 0 0 0 rg BT 306.09 82.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 350.37 82.10 Td (upon, ) Tj ET Q q 0 0 0 rg BT 375.49 82.10 Td (among ) Tj ET Q q 0 0 0 rg BT 405.33 82.10 Td (other ) Tj ET Q q 0 0 0 rg BT 428.50 82.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 458.07 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.91 82.10 Td (future ) Tj ET Q q 0 0 0 rg BT 499.40 82.10 Td (development ) Tj ET Q q 0 0 0 rg BT 553.67 82.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 79.20 70.10 Td (Liberty) Tj ET Q q 0 0 0 rg BT 111.41 70.10 Td (s ) Tj ET Q q 0 0 0 rg BT 117.29 70.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 143.14 70.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 160.69 70.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 195.43 70.10 Td (for ) Tj ET Q q 0 0 0 rg BT 209.08 70.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 238.26 70.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 259.13 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 269.45 70.10 Td (business ) Tj ET Q q 0 0 0 rg BT 305.32 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 321.74 70.10 Td (the ) Tj ET Q q 0 0 0 rg BT 335.95 70.10 Td (utilization ) Tj ET Q q 0 0 0 rg BT 378.48 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 388.79 70.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 417.98 70.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 453.27 70.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 467.47 70.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 492.78 70.10 Td (over ) Tj ET Q q 0 0 0 rg BT 512.53 70.10 Td (time. ) Tj ET Q q 0 0 0 rg BT 534.79 70.10 Td (Global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 81.93 58.10 Td (also ) Tj ET Q q 0 0 0 rg BT 100.54 58.10 Td (wrote ) Tj ET Q q 0 0 0 rg BT 125.81 58.10 Td (homeowners ) Tj ET Q q 0 0 0 rg BT 179.41 58.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 220.22 58.10 Td (in ) Tj ET Q q 0 0 0 rg BT 230.50 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 245.22 58.10 Td (northeast, ) Tj ET Q q 0 0 0 rg BT 286.88 58.10 Td (which ) Tj ET Q q 0 0 0 rg BT 313.81 58.10 Td (has ) Tj ET Q q 0 0 0 rg BT 329.64 58.10 Td (been ) Tj ET Q q 0 0 0 rg BT 351.02 58.10 Td (placed ) Tj ET Q q 0 0 0 rg BT 379.61 58.10 Td (into ) Tj ET Q q 0 0 0 rg BT 397.67 58.10 Td (run-of) Tj ET Q q 0 0 0 rg BT 422.48 58.10 Td (f ) Tj ET Q q 0 0 0 rg BT 428.31 58.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 450.25 58.10 Td (to ) Tj ET Q q 0 0 0 rg BT 460.53 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 475.24 58.10 Td (transaction.) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 66.92 742.10 Td (total ) Tj ET Q q 0 0 0 rg BT 86.06 742.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 122.97 742.10 Td (price ) Tj ET Q q 0 0 0 rg BT 144.32 742.10 Td (for ) Tj ET Q q 0 0 0 rg BT 157.35 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 170.94 742.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 211.74 742.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 241.99 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 251.69 742.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 280.28 742.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 311.08 742.10 Td (will ) Tj ET Q q 0 0 0 rg BT 328.01 742.10 Td (be ) Tj ET Q q 0 0 0 rg BT 338.82 742.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.94 742.10 Td ($24.7 ) Tj ET Q q 0 0 0 rg BT 421.81 742.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.71 742.10 Td (, ) Tj ET Q q 0 0 0 rg BT 454.58 742.10 Td (consisting ) Tj ET Q q 0 0 0 rg BT 496.50 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 506.20 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 512.01 742.10 Td (combination ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.21 730.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 81.87 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 98.55 730.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 122.54 730.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 162.06 730.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 192.44 730.10 Td (Consideration ) Tj ET Q q 0 0 0 rg BT 251.42 730.10 Td (will ) Tj ET Q q 0 0 0 rg BT 269.86 730.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 300.52 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 311.74 730.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.38 730.10 Td ($20.7 ) Tj ET Q q 0 0 0 rg BT 397.76 730.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.65 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 429.54 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 440.20 730.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 460.85 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 478.17 730.10 Td ($4.0 ) Tj ET Q q 0 0 0 rg BT 498.56 730.10 Td (million ) Tj ET Q q 0 0 0 rg BT 530.33 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 540.91 730.10 Td (Atlas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 89.71 718.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 117.77 718.10 Td (\(consisting ) Tj ET Q q 0 0 0 rg BT 164.73 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 176.13 718.10 Td (a ) Tj ET Q q 0 0 0 rg BT 183.65 718.10 Td (total ) Tj ET Q q 0 0 0 rg BT 204.49 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 215.89 718.10 Td (4,000,000 ) Tj ET Q q 0 0 0 rg BT 258.97 718.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 298.68 718.10 Td (shares\). ) Tj ET Q q 0 0 0 rg BT 332.35 718.10 Td (W) Tj ET Q q 0 0 0 rg BT 340.98 718.10 Td (e ) Tj ET Q q 0 0 0 rg BT 348.50 718.10 Td (will ) Tj ET Q q 0 0 0 rg BT 367.12 718.10 Td (have ) Tj ET Q q 0 0 0 rg BT 389.07 718.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 436.57 718.10 Td (protections ) Tj ET Q q 0 0 0 rg BT 484.07 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 494.92 718.10 Td (of) Tj ET Q q 0 0 0 rg BT 503.07 718.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 520.58 718.10 Td (up ) Tj ET Q q 0 0 0 rg BT 533.66 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 544.51 718.10 Td ($4.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (million ) Tj ET Q q 0 0 0 rg BT 81.39 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 92.22 706.10 Td (future ) Tj ET Q q 0 0 0 rg BT 118.60 706.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 151.64 706.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 183.00 706.10 Td (development. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.24 682.10 Td (values ) Tj ET Q q 0 0 0 rg BT 94.48 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.51 682.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 133.40 682.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 158.43 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 174.56 682.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 213.47 682.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 249.59 682.10 Td (are ) Tj ET Q q 0 0 0 rg BT 263.49 682.10 Td (preliminary ) Tj ET Q q 0 0 0 rg BT 311.84 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 321.31 682.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 347.99 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 364.12 682.10 Td (are ) Tj ET Q q 0 0 0 rg BT 378.02 682.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 408.04 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 417.51 682.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 463.09 682.10 Td (as ) Tj ET Q q 0 0 0 rg BT 473.12 682.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 514.80 682.10 Td (information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (is ) Tj ET Q q 0 0 0 rg BT 59.37 670.10 Td (obtained, ) Tj ET Q q 0 0 0 rg BT 99.01 670.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 141.98 670.10 Td (but ) Tj ET Q q 0 0 0 rg BT 157.47 670.10 Td (not ) Tj ET Q q 0 0 0 rg BT 172.95 670.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 203.98 670.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 216.96 670.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 256.88 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 267.91 670.10 Td (separately ) Tj ET Q q 0 0 0 rg BT 311.14 670.10 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 359.38 670.10 Td (intangibles, ) Tj ET Q q 0 0 0 rg BT 408.47 670.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 431.72 670.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 460.25 670.10 Td (etc.. ) Tj ET Q q 0 0 0 rg BT 479.41 670.10 Td (These ) Tj ET Q q 0 0 0 rg BT 505.99 670.10 Td (valuations ) Tj ET Q q 0 0 0 rg BT 549.80 670.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.96 658.10 Td (be ) Tj ET Q q 0 0 0 rg BT 73.58 658.10 Td (finalized ) Tj ET Q q 0 0 0 rg BT 111.75 658.10 Td (within ) Tj ET Q q 0 0 0 rg BT 140.49 658.10 Td (one ) Tj ET Q q 0 0 0 rg BT 158.11 658.10 Td (year ) Tj ET Q q 0 0 0 rg BT 178.50 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.01 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 205.42 658.10 Td (close ) Tj ET Q q 0 0 0 rg BT 229.15 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 240.66 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 256.06 658.10 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 305.63 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 308.58 658.10 Td (When ) Tj ET Q q 0 0 0 rg BT 335.64 658.10 Td (valuations ) Tj ET Q q 0 0 0 rg BT 379.93 658.10 Td (are ) Tj ET Q q 0 0 0 rg BT 395.32 658.10 Td (finalized, ) Tj ET Q q 0 0 0 rg BT 435.98 658.10 Td (any ) Tj ET Q q 0 0 0 rg BT 453.60 658.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 488.99 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 499.96 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 515.36 658.10 Td (preliminary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 89.71 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 100.54 646.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 126.37 646.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 163.30 646.10 Td (or ) Tj ET Q q 0 0 0 rg BT 174.13 646.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 213.84 646.10 Td (assumed ) Tj ET Q q 0 0 0 rg BT 250.78 646.10 Td (may ) Tj ET Q q 0 0 0 rg BT 270.50 646.10 Td (result ) Tj ET Q q 0 0 0 rg BT 295.21 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 305.49 646.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 355.77 646.10 Td (to ) Tj ET Q q 0 0 0 rg BT 366.04 646.10 Td (separately ) Tj ET Q q 0 0 0 rg BT 409.08 646.10 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 457.11 646.10 Td (intangibles ) Tj ET Q q 0 0 0 rg BT 503.50 646.10 Td (or ) Tj ET Q q 0 0 0 rg BT 514.33 646.10 Td (goodwill. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (Competitive Str) Tj ET Q q 0 0 0 rg BT 117.86 610.10 Td (engths) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.05 586.10 Td (value ) Tj ET Q q 0 0 0 rg BT 92.21 586.10 Td (proposition ) Tj ET Q q 0 0 0 rg BT 140.26 586.10 Td (is ) Tj ET Q q 0 0 0 rg BT 149.43 586.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 177.48 586.10 Td (by ) Tj ET Q q 0 0 0 rg BT 189.98 586.10 Td (our ) Tj ET Q q 0 0 0 rg BT 205.81 586.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 255.52 586.10 Td (strengths, ) Tj ET Q q 0 0 0 rg BT 296.63 586.10 Td (which ) Tj ET Q q 0 0 0 rg BT 323.56 586.10 Td (include ) Tj ET Q q 0 0 0 rg BT 355.50 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 370.21 586.10 Td (following:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Focus ) Tj ET Q q 0 0 0 rg BT 76.75 562.10 Td (on ) Tj ET Q q 0 0 0 rg BT 89.07 562.10 Td (niche ) Tj ET Q q 0 0 0 rg BT 113.04 562.10 Td (commer) Tj ET Q q 0 0 0 rg BT 144.88 562.10 Td (cial ) Tj ET Q q 0 0 0 rg BT 162.19 562.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 203.94 562.10 Td (business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.33 562.10 Td ( ) Tj ET Q q 0 0 0 rg BT 242.48 562.10 Td (W) Tj ET Q q 0 0 0 rg BT 251.12 562.10 Td (e ) Tj ET Q q 0 0 0 rg BT 257.87 562.10 Td (tar) Tj ET Q q 0 0 0 rg BT 268.24 562.10 Td (get ) Tj ET Q q 0 0 0 rg BT 282.77 562.10 Td (niche ) Tj ET Q q 0 0 0 rg BT 306.74 562.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 340.71 562.10 Td (that ) Tj ET Q q 0 0 0 rg BT 358.02 562.10 Td (support ) Tj ET Q q 0 0 0 rg BT 390.33 562.10 Td (adequate ) Tj ET Q q 0 0 0 rg BT 428.18 562.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 458.82 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 475.57 562.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 506.76 562.10 Td (we ) Tj ET Q q 0 0 0 rg BT 520.73 562.10 Td (are ) Tj ET Q q 0 0 0 rg BT 535.25 562.10 Td (able ) Tj ET Q q 0 0 0 rg BT 554.22 562.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (adapt ) Tj ET Q q 0 0 0 rg BT 73.91 550.10 Td (to ) Tj ET Q q 0 0 0 rg BT 83.95 550.10 Td (changing ) Tj ET Q q 0 0 0 rg BT 122.86 550.10 Td (market ) Tj ET Q q 0 0 0 rg BT 152.89 550.10 Td (needs ) Tj ET Q q 0 0 0 rg BT 177.91 550.10 Td (ahead ) Tj ET Q q 0 0 0 rg BT 203.49 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 214.07 550.10 Td (our ) Tj ET Q q 0 0 0 rg BT 229.66 550.10 Td (competitors ) Tj ET Q q 0 0 0 rg BT 279.13 550.10 Td (through ) Tj ET Q q 0 0 0 rg BT 312.50 550.10 Td (our ) Tj ET Q q 0 0 0 rg BT 328.09 550.10 Td (strategic ) Tj ET Q q 0 0 0 rg BT 364.22 550.10 Td (commitment ) Tj ET Q q 0 0 0 rg BT 417.02 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 433.72 550.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 473.74 550.10 Td (scale. ) Tj ET Q q 0 0 0 rg BT 498.32 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 506.96 550.10 Td (e ) Tj ET Q q 0 0 0 rg BT 513.66 550.10 Td (develop ) Tj ET Q q 0 0 0 rg BT 547.57 550.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (deliver ) Tj ET Q q 0 0 0 rg BT 80.34 538.10 Td (superior ) Tj ET Q q 0 0 0 rg BT 115.69 538.10 Td (specialty ) Tj ET Q q 0 0 0 rg BT 153.81 538.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 203.59 538.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 251.16 538.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 292.05 538.10 Td (products ) Tj ET Q q 0 0 0 rg BT 329.07 538.10 Td (priced ) Tj ET Q q 0 0 0 rg BT 356.64 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 367.00 538.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 389.01 538.10 Td (our ) Tj ET Q q 0 0 0 rg BT 404.92 538.10 Td (customers) Tj ET Q q 0 0 0 rg BT 448.05 538.10 Td ( ) Tj ET Q q 0 0 0 rg BT 450.63 538.10 Td (needs ) Tj ET Q q 0 0 0 rg BT 475.98 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 493.00 538.10 Td (strive ) Tj ET Q q 0 0 0 rg BT 517.80 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 528.15 538.10 Td (generate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 92.55 526.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 146.76 526.10 Td (profit ) Tj ET Q q 0 0 0 rg BT 171.53 526.10 Td (for ) Tj ET Q q 0 0 0 rg BT 185.75 526.10 Td (our ) Tj ET Q q 0 0 0 rg BT 201.63 526.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 242.50 526.10 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 294.59 526.10 Td (W) Tj ET Q q 0 0 0 rg BT 303.23 526.10 Td (e ) Tj ET Q q 0 0 0 rg BT 310.22 526.10 Td (have ) Tj ET Q q 0 0 0 rg BT 331.65 526.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 382.51 526.10 Td (a ) Tj ET Q q 0 0 0 rg BT 389.50 526.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 429.81 526.10 Td (trend ) Tj ET Q q 0 0 0 rg BT 452.92 526.10 Td (in ) Tj ET Q q 0 0 0 rg BT 463.25 526.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 481.37 526.10 Td (ratios ) Tj ET Q q 0 0 0 rg BT 506.14 526.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 554.23 526.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.50 514.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 104.53 514.10 Td (composition ) Tj ET Q q 0 0 0 rg BT 156.25 514.10 Td (of ) Tj ET Q q 0 0 0 rg BT 166.87 514.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 216.34 514.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 263.61 514.10 Td (written ) Tj ET Q q 0 0 0 rg BT 294.22 514.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 332.60 514.10 Td (as ) Tj ET Q q 0 0 0 rg BT 343.21 514.10 Td (a ) Tj ET Q q 0 0 0 rg BT 349.93 514.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 395.51 514.10 Td (of ) Tj ET Q q 0 0 0 rg BT 406.12 514.10 Td (our ) Tj ET Q q 0 0 0 rg BT 421.73 514.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 462.33 514.10 Td (subsidiaries' ) Tj ET Q q 0 0 0 rg BT 513.63 514.10 Td (total ) Tj ET Q q 0 0 0 rg BT 533.68 514.10 Td (written ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 88.60 502.10 Td (coupled ) Tj ET Q q 0 0 0 rg BT 122.76 502.10 Td (with ) Tj ET Q q 0 0 0 rg BT 143.04 502.10 Td (our ) Tj ET Q q 0 0 0 rg BT 158.87 502.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 186.92 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 197.20 502.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 232.45 502.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 263.28 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 280.21 502.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 313.81 502.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 342.41 502.10 Td (ef) Tj ET Q q 0 0 0 rg BT 350.00 502.10 Td (fectively) Tj ET Q q 0 0 0 rg BT 384.33 502.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 485.10 Td (There ) Tj ET Q q 0 0 0 rg BT 75.33 485.10 Td (are ) Tj ET Q q 0 0 0 rg BT 89.56 485.10 Td (a ) Tj ET Q q 0 0 0 rg BT 96.02 485.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 126.36 485.10 Td (number ) Tj ET Q q 0 0 0 rg BT 158.93 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 169.28 485.10 Td (competitors ) Tj ET Q q 0 0 0 rg BT 218.51 485.10 Td (specializing ) Tj ET Q q 0 0 0 rg BT 268.28 485.10 Td (in ) Tj ET Q q 0 0 0 rg BT 278.08 485.10 Td (these ) Tj ET Q q 0 0 0 rg BT 300.64 485.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 321.55 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 331.90 485.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 370.31 485.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 424.53 485.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 459.31 485.10 Td (a ) Tj ET Q q 0 0 0 rg BT 465.77 485.10 Td (strong ) Tj ET Q q 0 0 0 rg BT 492.78 485.10 Td (value ) Tj ET Q q 0 0 0 rg BT 516.46 485.10 Td (proposition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 473.10 Td (is ) Tj ET Q q 0 0 0 rg BT 59.36 473.10 Td (very ) Tj ET Q q 0 0 0 rg BT 79.82 473.10 Td (important ) Tj ET Q q 0 0 0 rg BT 121.40 473.10 Td (to ) Tj ET Q q 0 0 0 rg BT 131.87 473.10 Td (attract ) Tj ET Q q 0 0 0 rg BT 159.54 473.10 Td (new ) Tj ET Q q 0 0 0 rg BT 178.89 473.10 Td (business ) Tj ET Q q 0 0 0 rg BT 215.47 473.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.60 473.10 Td (can ) Tj ET Q q 0 0 0 rg BT 249.17 473.10 Td (result ) Tj ET Q q 0 0 0 rg BT 274.08 473.10 Td (in ) Tj ET Q q 0 0 0 rg BT 284.55 473.10 Td (desirable ) Tj ET Q q 0 0 0 rg BT 323.34 473.10 Td (retention ) Tj ET Q q 0 0 0 rg BT 361.57 473.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 387.59 473.10 Td (as ) Tj ET Q q 0 0 0 rg BT 398.61 473.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 432.41 473.10 Td (renew ) Tj ET Q q 0 0 0 rg BT 459.53 473.10 Td (on ) Tj ET Q q 0 0 0 rg BT 472.22 473.10 Td (an ) Tj ET Q q 0 0 0 rg BT 484.35 473.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 513.70 473.10 Td (basis. ) Tj ET Q q 0 0 0 rg BT 538.69 473.10 Td (There ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 461.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.96 461.10 Td (also ) Tj ET Q q 0 0 0 rg BT 83.82 461.10 Td (a ) Tj ET Q q 0 0 0 rg BT 91.01 461.10 Td (relatively ) Tj ET Q q 0 0 0 rg BT 131.51 461.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 162.60 461.10 Td (number ) Tj ET Q q 0 0 0 rg BT 195.89 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 206.97 461.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 235.27 461.10 Td (who ) Tj ET Q q 0 0 0 rg BT 255.24 461.10 Td (specialize ) Tj ET Q q 0 0 0 rg BT 297.41 461.10 Td (in ) Tj ET Q q 0 0 0 rg BT 307.94 461.10 Td (these ) Tj ET Q q 0 0 0 rg BT 331.24 461.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 352.88 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 363.96 461.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 403.10 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 405.24 461.10 Td (As ) Tj ET Q q 0 0 0 rg BT 419.10 461.10 Td (a ) Tj ET Q q 0 0 0 rg BT 426.29 461.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 453.76 461.10 Td (strategic ) Tj ET Q q 0 0 0 rg BT 490.38 461.10 Td (relationships ) Tj ET Q q 0 0 0 rg BT 544.24 461.10 Td (with ) Tj ET Q q 0 0 0 rg BT 564.52 461.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 449.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 101.37 449.10 Td (retail ) Tj ET Q q 0 0 0 rg BT 124.41 449.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 152.46 449.10 Td (are ) Tj ET Q q 0 0 0 rg BT 167.17 449.10 Td (important ) Tj ET Q q 0 0 0 rg BT 208.55 449.10 Td (to ) Tj ET Q q 0 0 0 rg BT 218.83 449.10 Td (ensure ) Tj ET Q q 0 0 0 rg BT 247.43 449.10 Td (ef) Tj ET Q q 0 0 0 rg BT 255.01 449.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 283.06 449.10 Td (distribution.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 432.10 Td (Str) Tj ET Q q 0 0 0 rg BT 61.30 432.10 Td (ong ) Tj ET Q q 0 0 0 rg BT 77.83 432.10 Td (market ) Tj ET Q q 0 0 0 rg BT 107.13 432.10 Td (pr) Tj ET Q q 0 0 0 rg BT 115.65 432.10 Td (esence ) Tj ET Q q 0 0 0 rg BT 143.82 432.10 Td (with ) Tj ET Q q 0 0 0 rg BT 162.58 432.10 Td (r) Tj ET Q q 0 0 0 rg BT 166.10 432.10 Td (ecognized ) Tj ET Q q 0 0 0 rg BT 207.61 432.10 Td (brands ) Tj ET Q q 0 0 0 rg BT 236.93 432.10 Td (and ) Tj ET Q q 0 0 0 rg BT 253.46 432.10 Td (long-standing ) Tj ET Q q 0 0 0 rg BT 310.54 432.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 358.75 432.10 Td (r) Tj ET Q q 0 0 0 rg BT 362.27 432.10 Td (elationships.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.10 432.10 Td ( ) Tj ET Q q 0 0 0 rg BT 414.30 432.10 Td (American ) Tj ET Q q 0 0 0 rg BT 455.25 432.10 Td (Country) Tj ET Q q 0 0 0 rg BT 487.38 432.10 Td (, ) Tj ET Q q 0 0 0 rg BT 491.07 432.10 Td (American ) Tj ET Q q 0 0 0 rg BT 532.02 432.10 Td (Service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.42 420.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 105.95 420.10 Td (have ) Tj ET Q q 0 0 0 rg BT 127.81 420.10 Td (a ) Tj ET Q q 0 0 0 rg BT 135.23 420.10 Td (long ) Tj ET Q q 0 0 0 rg BT 155.99 420.10 Td (heritage ) Tj ET Q q 0 0 0 rg BT 191.18 420.10 Td (as ) Tj ET Q q 0 0 0 rg BT 202.50 420.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 237.14 420.10 Td (of ) Tj ET Q q 0 0 0 rg BT 248.46 420.10 Td (taxi, ) Tj ET Q q 0 0 0 rg BT 268.94 420.10 Td (livery ) Tj ET Q q 0 0 0 rg BT 295.25 420.10 Td (and ) Tj ET Q q 0 0 0 rg BT 312.67 420.10 Td (para-transit ) Tj ET Q q 0 0 0 rg BT 361.19 420.10 Td (businesses. ) Tj ET Q q 0 0 0 rg BT 408.23 420.10 Td (All ) Tj ET Q q 0 0 0 rg BT 424.00 420.10 Td (of ) Tj ET Q q 0 0 0 rg BT 435.31 420.10 Td (our ) Tj ET Q q 0 0 0 rg BT 451.63 420.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 492.93 420.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 543.13 420.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.10 Td (strong ) Tj ET Q q 0 0 0 rg BT 78.65 408.10 Td (brand ) Tj ET Q q 0 0 0 rg BT 105.08 408.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 154.27 408.10 Td (and ) Tj ET Q q 0 0 0 rg BT 172.37 408.10 Td (long-standing ) Tj ET Q q 0 0 0 rg BT 231.02 408.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 280.79 408.10 Td (relationships ) Tj ET Q q 0 0 0 rg BT 335.54 408.10 Td (in ) Tj ET Q q 0 0 0 rg BT 346.98 408.10 Td (tar) Tj ET Q q 0 0 0 rg BT 357.34 408.10 Td (get ) Tj ET Q q 0 0 0 rg BT 373.22 408.10 Td (markets. ) Tj ET Q q 0 0 0 rg BT 410.76 408.10 Td (Through ) Tj ET Q q 0 0 0 rg BT 448.85 408.10 Td (regular ) Tj ET Q q 0 0 0 rg BT 480.82 408.10 Td (interaction ) Tj ET Q q 0 0 0 rg BT 527.24 408.10 Td (with ) Tj ET Q q 0 0 0 rg BT 548.67 408.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 101.17 396.10 Td (retail ) Tj ET Q q 0 0 0 rg BT 124.00 396.10 Td (agents, ) Tj ET Q q 0 0 0 rg BT 154.34 396.10 Td (we ) Tj ET Q q 0 0 0 rg BT 168.30 396.10 Td (strive ) Tj ET Q q 0 0 0 rg BT 192.81 396.10 Td (to ) Tj ET Q q 0 0 0 rg BT 202.88 396.10 Td (thoroughly ) Tj ET Q q 0 0 0 rg BT 249.06 396.10 Td (understand ) Tj ET Q q 0 0 0 rg BT 295.23 396.10 Td (each ) Tj ET Q q 0 0 0 rg BT 315.84 396.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.46 396.10 Td (the ) Tj ET Q q 0 0 0 rg BT 340.98 396.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 374.92 396.10 Td (we ) Tj ET Q q 0 0 0 rg BT 388.88 396.10 Td (serve ) Tj ET Q q 0 0 0 rg BT 412.27 396.10 Td (in ) Tj ET Q q 0 0 0 rg BT 422.34 396.10 Td (order ) Tj ET Q q 0 0 0 rg BT 445.74 396.10 Td (to ) Tj ET Q q 0 0 0 rg BT 455.81 396.10 Td (deliver ) Tj ET Q q 0 0 0 rg BT 485.87 396.10 Td (strategically ) Tj ET Q q 0 0 0 rg BT 537.03 396.10 Td (priced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.10 Td (products ) Tj ET Q q 0 0 0 rg BT 87.15 384.10 Td (to ) Tj ET Q q 0 0 0 rg BT 97.63 384.10 Td (attractive ) Tj ET Q q 0 0 0 rg BT 137.53 384.10 Td (market ) Tj ET Q q 0 0 0 rg BT 168.00 384.10 Td (share ) Tj ET Q q 0 0 0 rg BT 191.81 384.10 Td (at ) Tj ET Q q 0 0 0 rg BT 201.73 384.10 Td (the ) Tj ET Q q 0 0 0 rg BT 216.66 384.10 Td (right ) Tj ET Q q 0 0 0 rg BT 238.25 384.10 Td (time. ) Tj ET Q q 0 0 0 rg BT 261.23 384.10 Td ( ) Tj ET Q q 0 0 0 rg BT 263.94 384.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 282.19 384.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 323.22 384.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 373.14 384.10 Td (are ) Tj ET Q q 0 0 0 rg BT 388.05 384.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 426.85 384.10 Td (licensed ) Tj ET Q q 0 0 0 rg BT 462.32 384.10 Td (in ) Tj ET Q q 0 0 0 rg BT 472.81 384.10 Td (more ) Tj ET Q q 0 0 0 rg BT 496.06 384.10 Td (states ) Tj ET Q q 0 0 0 rg BT 520.98 384.10 Td (than ) Tj ET Q q 0 0 0 rg BT 540.91 384.10 Td (those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.94 372.10 Td (which ) Tj ET Q q 0 0 0 rg BT 86.54 372.10 Td (we ) Tj ET Q q 0 0 0 rg BT 100.36 372.10 Td (have ) Tj ET Q q 0 0 0 rg BT 121.40 372.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 159.65 372.10 Td (elected ) Tj ET Q q 0 0 0 rg BT 190.12 372.10 Td (to ) Tj ET Q q 0 0 0 rg BT 200.06 372.10 Td (do ) Tj ET Q q 0 0 0 rg BT 212.22 372.10 Td (business ) Tj ET Q q 0 0 0 rg BT 248.27 372.10 Td (and ) Tj ET Q q 0 0 0 rg BT 264.87 372.10 Td (we ) Tj ET Q q 0 0 0 rg BT 278.69 372.10 Td (routinely ) Tj ET Q q 0 0 0 rg BT 316.96 372.10 Td (re-evaluate ) Tj ET Q q 0 0 0 rg BT 363.53 372.10 Td (all ) Tj ET Q q 0 0 0 rg BT 375.68 372.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 409.50 372.10 Td (to ) Tj ET Q q 0 0 0 rg BT 419.44 372.10 Td (assess ) Tj ET Q q 0 0 0 rg BT 446.04 372.10 Td (future ) Tj ET Q q 0 0 0 rg BT 472.08 372.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 509.23 372.10 Td (opportunities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 360.10 Td (risks.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 336.10 Td (Sophisticated ) Tj ET Q q 0 0 0 rg BT 105.15 336.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 158.65 336.10 Td (and ) Tj ET Q q 0 0 0 rg BT 174.92 336.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 202.30 336.10 Td (handling ) Tj ET Q q 0 0 0 rg BT 239.13 336.10 Td (expertise. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 336.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 301.38 336.10 Td (has ) Tj ET Q q 0 0 0 rg BT 315.98 336.10 Td (extensive ) Tj ET Q q 0 0 0 rg BT 355.02 336.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 399.59 336.10 Td (and ) Tj ET Q q 0 0 0 rg BT 415.30 336.10 Td (expertise ) Tj ET Q q 0 0 0 rg BT 452.67 336.10 Td (with ) Tj ET Q q 0 0 0 rg BT 471.72 336.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 501.30 336.10 Td (to ) Tj ET Q q 0 0 0 rg BT 510.35 336.10 Td (underwriting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.20 324.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 96.06 324.10 Td (management ) Tj ET Q q 0 0 0 rg BT 149.90 324.10 Td (in ) Tj ET Q q 0 0 0 rg BT 160.44 324.10 Td (our ) Tj ET Q q 0 0 0 rg BT 176.53 324.10 Td (specialty ) Tj ET Q q 0 0 0 rg BT 214.83 324.10 Td (area ) Tj ET Q q 0 0 0 rg BT 234.23 324.10 Td (of ) Tj ET Q q 0 0 0 rg BT 245.32 324.10 Td (insurance. ) Tj ET Q q 0 0 0 rg BT 288.89 324.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 307.20 324.10 Td (well-developed ) Tj ET Q q 0 0 0 rg BT 371.60 324.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 426.01 324.10 Td (and ) Tj ET Q q 0 0 0 rg BT 443.21 324.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 472.07 324.10 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 528.69 324.10 Td (includes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.10 Td (an ) Tj ET Q q 0 0 0 rg BT 61.92 312.10 Td (extensive ) Tj ET Q q 0 0 0 rg BT 102.17 312.10 Td (data ) Tj ET Q q 0 0 0 rg BT 121.30 312.10 Td (repository) Tj ET Q q 0 0 0 rg BT 161.20 312.10 Td (, ) Tj ET Q q 0 0 0 rg BT 166.18 312.10 Td (proprietary ) Tj ET Q q 0 0 0 rg BT 213.09 312.10 Td (technologies, ) Tj ET Q q 0 0 0 rg BT 268.61 312.10 Td (deep ) Tj ET Q q 0 0 0 rg BT 289.97 312.10 Td (market ) Tj ET Q q 0 0 0 rg BT 320.22 312.10 Td (knowledge ) Tj ET Q q 0 0 0 rg BT 366.58 312.10 Td (and ) Tj ET Q q 0 0 0 rg BT 383.50 312.10 Td (established ) Tj ET Q q 0 0 0 rg BT 430.41 312.10 Td (market ) Tj ET Q q 0 0 0 rg BT 460.66 312.10 Td (relationships. ) Tj ET Q q 0 0 0 rg BT 516.19 312.10 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 553.68 312.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.49 300.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 107.54 300.10 Td (data ) Tj ET Q q 0 0 0 rg BT 125.47 300.10 Td (available ) Tj ET Q q 0 0 0 rg BT 162.83 300.10 Td (through ) Tj ET Q q 0 0 0 rg BT 195.21 300.10 Td (our ) Tj ET Q q 0 0 0 rg BT 209.82 300.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 248.86 300.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 292.90 300.10 Td (drives ) Tj ET Q q 0 0 0 rg BT 318.61 300.10 Td (our ) Tj ET Q q 0 0 0 rg BT 333.21 300.10 Td (product ) Tj ET Q q 0 0 0 rg BT 365.03 300.10 Td (and ) Tj ET Q q 0 0 0 rg BT 380.75 300.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 410.35 300.10 Td (decisions. ) Tj ET Q q 0 0 0 rg BT 451.25 300.10 Td (W) Tj ET Q q 0 0 0 rg BT 459.88 300.10 Td (e ) Tj ET Q q 0 0 0 rg BT 465.60 300.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 495.74 300.10 Td (our ) Tj ET Q q 0 0 0 rg BT 510.35 300.10 Td (underwriting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.46 288.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 96.58 288.10 Td (handling ) Tj ET Q q 0 0 0 rg BT 134.60 288.10 Td (expertise ) Tj ET Q q 0 0 0 rg BT 173.71 288.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 211.17 288.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 251.94 288.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 269.96 288.10 Td (selection, ) Tj ET Q q 0 0 0 rg BT 311.03 288.10 Td (high ) Tj ET Q q 0 0 0 rg BT 331.82 288.10 Td (quality ) Tj ET Q q 0 0 0 rg BT 362.62 288.10 Td (service ) Tj ET Q q 0 0 0 rg BT 393.95 288.10 Td (to ) Tj ET Q q 0 0 0 rg BT 404.75 288.10 Td (our ) Tj ET Q q 0 0 0 rg BT 421.10 288.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 464.67 288.10 Td (and ) Tj ET Q q 0 0 0 rg BT 482.13 288.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 512.90 288.10 Td (control ) Tj ET Q q 0 0 0 rg BT 544.25 288.10 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 78.67 276.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 119.65 276.10 Td (W) Tj ET Q q 0 0 0 rg BT 128.29 276.10 Td (e ) Tj ET Q q 0 0 0 rg BT 135.29 276.10 Td (are ) Tj ET Q q 0 0 0 rg BT 150.07 276.10 Td (committed ) Tj ET Q q 0 0 0 rg BT 195.41 276.10 Td (to ) Tj ET Q q 0 0 0 rg BT 205.75 276.10 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 256.09 276.10 Td (this ) Tj ET Q q 0 0 0 rg BT 273.10 276.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 327.33 276.10 Td (and ) Tj ET Q q 0 0 0 rg BT 344.33 276.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 373.00 276.10 Td (handling ) Tj ET Q q 0 0 0 rg BT 410.56 276.10 Td (expertise ) Tj ET Q q 0 0 0 rg BT 449.23 276.10 Td (as ) Tj ET Q q 0 0 0 rg BT 460.12 276.10 Td (a ) Tj ET Q q 0 0 0 rg BT 467.13 276.10 Td (core ) Tj ET Q q 0 0 0 rg BT 486.90 276.10 Td (competency ) Tj ET Q q 0 0 0 rg BT 537.78 276.10 Td (as ) Tj ET Q q 0 0 0 rg BT 548.68 276.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 82.50 264.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.33 264.10 Td (business ) Tj ET Q q 0 0 0 rg BT 129.72 264.10 Td (increases.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (Scalable ) Tj ET Q q 0 0 0 rg BT 87.10 240.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 132.55 240.10 Td (positioned ) Tj ET Q q 0 0 0 rg BT 176.88 240.10 Td (for ) Tj ET Q q 0 0 0 rg BT 191.22 240.10 Td (gr) Tj ET Q q 0 0 0 rg BT 199.74 240.10 Td (owth.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.69 240.10 Td ( ) Tj ET Q q 0 0 0 rg BT 224.35 240.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 270.90 240.10 Td (progress ) Tj ET Q q 0 0 0 rg BT 307.45 240.10 Td (has ) Tj ET Q q 0 0 0 rg BT 323.45 240.10 Td (been ) Tj ET Q q 0 0 0 rg BT 344.99 240.10 Td (made ) Tj ET Q q 0 0 0 rg BT 369.32 240.10 Td (in ) Tj ET Q q 0 0 0 rg BT 379.76 240.10 Td (aligning ) Tj ET Q q 0 0 0 rg BT 415.20 240.10 Td (our ) Tj ET Q q 0 0 0 rg BT 431.20 240.10 Td (or) Tj ET Q q 0 0 0 rg BT 439.35 240.10 Td (ganization's ) Tj ET Q q 0 0 0 rg BT 489.36 240.10 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 545.89 240.10 Td (cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td (base ) Tj ET Q q 0 0 0 rg BT 70.97 228.10 Td (to ) Tj ET Q q 0 0 0 rg BT 81.96 228.10 Td (our ) Tj ET Q q 0 0 0 rg BT 98.49 228.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 137.23 228.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 172.08 228.10 Td (going ) Tj ET Q q 0 0 0 rg BT 198.07 228.10 Td (forward. ) Tj ET Q q 0 0 0 rg BT 235.19 228.10 Td (The ) Tj ET Q q 0 0 0 rg BT 253.94 228.10 Td (core ) Tj ET Q q 0 0 0 rg BT 274.36 228.10 Td (functions ) Tj ET Q q 0 0 0 rg BT 314.78 228.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.31 228.10 Td (our ) Tj ET Q q 0 0 0 rg BT 342.85 228.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 384.37 228.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 434.79 228.10 Td (were ) Tj ET Q q 0 0 0 rg BT 457.43 228.10 Td (integrated ) Tj ET Q q 0 0 0 rg BT 500.61 228.10 Td (into ) Tj ET Q q 0 0 0 rg BT 519.38 228.10 Td (a ) Tj ET Q q 0 0 0 rg BT 527.02 228.10 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 90.19 216.10 Td (platform. ) Tj ET Q q 0 0 0 rg BT 129.38 216.10 Td (W) Tj ET Q q 0 0 0 rg BT 138.02 216.10 Td (e ) Tj ET Q q 0 0 0 rg BT 144.88 216.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 176.18 216.10 Td (that ) Tj ET Q q 0 0 0 rg BT 193.61 216.10 Td (our ) Tj ET Q q 0 0 0 rg BT 209.36 216.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 250.11 216.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 299.75 216.10 Td (are ) Tj ET Q q 0 0 0 rg BT 314.39 216.10 Td (well-positioned ) Tj ET Q q 0 0 0 rg BT 379.03 216.10 Td (to ) Tj ET Q q 0 0 0 rg BT 389.23 216.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 426.10 216.10 Td (approaching ) Tj ET Q q 0 0 0 rg BT 477.95 216.10 Td (proportionate ) Tj ET Q q 0 0 0 rg BT 534.25 216.10 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.10 Td (share ) Tj ET Q q 0 0 0 rg BT 73.04 204.10 Td (of ) Tj ET Q q 0 0 0 rg BT 83.30 204.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 143.00 204.10 Td (20% ) Tj ET Q q 0 0 0 rg BT 163.27 204.10 Td (in ) Tj ET Q q 0 0 0 rg BT 172.98 204.10 Td (all ) Tj ET Q q 0 0 0 rg BT 184.92 204.10 Td (of ) Tj ET Q q 0 0 0 rg BT 195.18 204.10 Td (the ) Tj ET Q q 0 0 0 rg BT 209.34 204.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 242.93 204.10 Td (in ) Tj ET Q q 0 0 0 rg BT 252.65 204.10 Td (which ) Tj ET Q q 0 0 0 rg BT 279.02 204.10 Td (we ) Tj ET Q q 0 0 0 rg BT 292.62 204.10 Td (operate ) Tj ET Q q 0 0 0 rg BT 323.98 204.10 Td (with ) Tj ET Q q 0 0 0 rg BT 343.70 204.10 Td (better ) Tj ET Q q 0 0 0 rg BT 368.40 204.10 Td (than ) Tj ET Q q 0 0 0 rg BT 387.55 204.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 422.27 204.10 Td (level ) Tj ET Q q 0 0 0 rg BT 443.64 204.10 Td (profitability ) Tj ET Q q 0 0 0 rg BT 493.35 204.10 Td (from ) Tj ET Q q 0 0 0 rg BT 514.72 204.10 Td (the ) Tj ET Q q 0 0 0 rg BT 528.88 204.10 Td (ef) Tj ET Q q 0 0 0 rg BT 536.46 204.10 Td (ficient ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 90.26 192.10 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 146.63 192.10 Td (established ) Tj ET Q q 0 0 0 rg BT 193.56 192.10 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 240.50 192.10 Td (to ) Tj ET Q q 0 0 0 rg BT 250.22 192.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 275.63 192.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 322.02 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 332.85 192.10 Td (the ) Tj ET Q q 0 0 0 rg BT 347.56 192.10 Td (companies.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 168.10 Td (Experienced ) Tj ET Q q 0 0 0 rg BT 102.83 168.10 Td (management ) Tj ET Q q 0 0 0 rg BT 156.78 168.10 Td (team.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.72 168.10 Td ( ) Tj ET Q q 0 0 0 rg BT 181.37 168.10 Td (W) Tj ET Q q 0 0 0 rg BT 190.01 168.10 Td (e ) Tj ET Q q 0 0 0 rg BT 197.30 168.10 Td (have ) Tj ET Q q 0 0 0 rg BT 219.03 168.10 Td (a ) Tj ET Q q 0 0 0 rg BT 226.33 168.10 Td (talented ) Tj ET Q q 0 0 0 rg BT 260.83 168.10 Td (and ) Tj ET Q q 0 0 0 rg BT 278.13 168.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 329.28 168.10 Td (management ) Tj ET Q q 0 0 0 rg BT 383.23 168.10 Td (team ) Tj ET Q q 0 0 0 rg BT 405.52 168.10 Td (who ) Tj ET Q q 0 0 0 rg BT 425.59 168.10 Td (have ) Tj ET Q q 0 0 0 rg BT 447.32 168.10 Td (decades ) Tj ET Q q 0 0 0 rg BT 481.83 168.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.01 168.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 539.17 168.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.80 168.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.10 Td (property ) Tj ET Q q 0 0 0 rg BT 86.61 156.10 Td (and ) Tj ET Q q 0 0 0 rg BT 103.78 156.10 Td (casualty ) Tj ET Q q 0 0 0 rg BT 139.28 156.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 180.33 156.10 Td (industry) Tj ET Q q 0 0 0 rg BT 212.46 156.10 Td (. ) Tj ET Q q 0 0 0 rg BT 217.69 156.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 235.98 156.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 263.15 156.10 Td (management ) Tj ET Q q 0 0 0 rg BT 316.97 156.10 Td (team ) Tj ET Q q 0 0 0 rg BT 339.14 156.10 Td (has ) Tj ET Q q 0 0 0 rg BT 355.20 156.10 Td (worked ) Tj ET Q q 0 0 0 rg BT 387.92 156.10 Td (in ) Tj ET Q q 0 0 0 rg BT 398.44 156.10 Td (the ) Tj ET Q q 0 0 0 rg BT 413.39 156.10 Td (property ) Tj ET Q q 0 0 0 rg BT 450.00 156.10 Td (and ) Tj ET Q q 0 0 0 rg BT 467.17 156.10 Td (casualty ) Tj ET Q q 0 0 0 rg BT 502.67 156.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 538.18 156.10 Td (for ) Tj ET Q q 0 0 0 rg BT 552.57 156.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.10 Td (average ) Tj ET Q q 0 0 0 rg BT 83.58 144.10 Td (of ) Tj ET Q q 0 0 0 rg BT 94.41 144.10 Td (24 ) Tj ET Q q 0 0 0 rg BT 106.91 144.10 Td (years ) Tj ET Q q 0 0 0 rg BT 130.51 144.10 Td (and ) Tj ET Q q 0 0 0 rg BT 147.45 144.10 Td (with ) Tj ET Q q 0 0 0 rg BT 167.73 144.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.45 144.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 223.26 144.10 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 275.48 144.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 308.52 144.10 Td (or ) Tj ET Q q 0 0 0 rg BT 319.35 144.10 Td (indirectly) Tj ET Q q 0 0 0 rg BT 357.02 144.10 Td (, ) Tj ET Q q 0 0 0 rg BT 362.02 144.10 Td (for ) Tj ET Q q 0 0 0 rg BT 376.18 144.10 Td (an ) Tj ET Q q 0 0 0 rg BT 388.12 144.10 Td (average ) Tj ET Q q 0 0 0 rg BT 421.70 144.10 Td (of ) Tj ET Q q 0 0 0 rg BT 432.53 144.10 Td (13 ) Tj ET Q q 0 0 0 rg BT 445.03 144.10 Td (years.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 120.10 Td (Strategic Focus) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 96.10 Td (V) Tj ET Q q 0 0 0 rg BT 56.12 96.10 Td (ision) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.45 72.10 Td (goal ) Tj ET Q q 0 0 0 rg BT 88.57 72.10 Td (is ) Tj ET Q q 0 0 0 rg BT 98.14 72.10 Td (to ) Tj ET Q q 0 0 0 rg BT 108.81 72.10 Td (be ) Tj ET Q q 0 0 0 rg BT 121.15 72.10 Td (the ) Tj ET Q q 0 0 0 rg BT 136.27 72.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 175.80 72.10 Td (specialty ) Tj ET Q q 0 0 0 rg BT 214.25 72.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 264.34 72.10 Td (transportation ) Tj ET Q q 0 0 0 rg BT 322.78 72.10 Td (insurer ) Tj ET Q q 0 0 0 rg BT 353.45 72.10 Td (in ) Tj ET Q q 0 0 0 rg BT 364.13 72.10 Td (any ) Tj ET Q q 0 0 0 rg BT 381.47 72.10 Td (geographic ) Tj ET Q q 0 0 0 rg BT 428.79 72.10 Td (area ) Tj ET Q q 0 0 0 rg BT 448.33 72.10 Td (where ) Tj ET Q q 0 0 0 rg BT 475.66 72.10 Td (our ) Tj ET Q q 0 0 0 rg BT 491.89 72.10 Td (value ) Tj ET Q q 0 0 0 rg BT 516.45 72.10 Td (proposition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.10 Td (delivers ) Tj ET Q q 0 0 0 rg BT 84.16 60.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 114.42 60.10 Td (to ) Tj ET Q q 0 0 0 rg BT 124.70 60.10 Td (all ) Tj ET Q q 0 0 0 rg BT 137.19 60.10 Td (stakeholders. ) Tj ET Q q 0 0 0 rg BT 192.18 60.10 Td ( ) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Mission) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 718.25 Td (e ) Tj ET Q q 0 0 0 rg BT 67.09 718.25 Td (develop ) Tj ET Q q 0 0 0 rg BT 102.77 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 121.22 718.25 Td (deliver ) Tj ET Q q 0 0 0 rg BT 153.00 718.25 Td (superior ) Tj ET Q q 0 0 0 rg BT 189.79 718.25 Td (specialty ) Tj ET Q q 0 0 0 rg BT 229.35 718.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 271.68 718.25 Td (products ) Tj ET Q q 0 0 0 rg BT 310.13 718.25 Td (priced ) Tj ET Q q 0 0 0 rg BT 339.14 718.25 Td (to ) Tj ET Q q 0 0 0 rg BT 350.93 718.25 Td (meet ) Tj ET Q q 0 0 0 rg BT 374.38 718.25 Td (our ) Tj ET Q q 0 0 0 rg BT 391.73 718.25 Td (customers) Tj ET Q q 0 0 0 rg BT 434.87 718.25 Td ( ) Tj ET Q q 0 0 0 rg BT 438.88 718.25 Td (needs ) Tj ET Q q 0 0 0 rg BT 465.67 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 484.12 718.25 Td (generate ) Tj ET Q q 0 0 0 rg BT 522.00 718.25 Td (consistent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 103.80 706.25 Td (profit ) Tj ET Q q 0 0 0 rg BT 128.16 706.25 Td (for ) Tj ET Q q 0 0 0 rg BT 141.97 706.25 Td (our ) Tj ET Q q 0 0 0 rg BT 157.44 706.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 197.90 706.25 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 249.76 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 251.75 706.25 Td (These ) Tj ET Q q 0 0 0 rg BT 277.78 706.25 Td (products ) Tj ET Q q 0 0 0 rg BT 314.36 706.25 Td (are ) Tj ET Q q 0 0 0 rg BT 328.71 706.25 Td (distributed ) Tj ET Q q 0 0 0 rg BT 373.63 706.25 Td (to ) Tj ET Q q 0 0 0 rg BT 383.55 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 397.92 706.25 Td (insured ) Tj ET Q q 0 0 0 rg BT 429.50 706.25 Td (through ) Tj ET Q q 0 0 0 rg BT 462.75 706.25 Td (independent ) Tj ET Q q 0 0 0 rg BT 513.77 706.25 Td (retail ) Tj ET Q q 0 0 0 rg BT 536.46 706.25 Td (agents ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (utilizing ) Tj ET Q q 0 0 0 rg BT 85.83 694.25 Td (our ) Tj ET Q q 0 0 0 rg BT 101.66 694.25 Td (company) Tj ET Q q 0 0 0 rg BT 141.09 694.25 Td (s ) Tj ET Q q 0 0 0 rg BT 147.49 694.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 187.75 694.25 Td (platform.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 670.25 Td (e ) Tj ET Q q 0 0 0 rg BT 64.59 670.25 Td (seek ) Tj ET Q q 0 0 0 rg BT 83.88 670.25 Td (to ) Tj ET Q q 0 0 0 rg BT 93.17 670.25 Td (achieve ) Tj ET Q q 0 0 0 rg BT 125.22 670.25 Td (our ) Tj ET Q q 0 0 0 rg BT 140.07 670.25 Td (vision ) Tj ET Q q 0 0 0 rg BT 166.03 670.25 Td (and ) Tj ET Q q 0 0 0 rg BT 181.98 670.25 Td (mission ) Tj ET Q q 0 0 0 rg BT 214.62 670.25 Td (through ) Tj ET Q q 0 0 0 rg BT 247.24 670.25 Td (the ) Tj ET Q q 0 0 0 rg BT 260.98 670.25 Td (design, ) Tj ET Q q 0 0 0 rg BT 291.10 670.25 Td (sophisticated ) Tj ET Q q 0 0 0 rg BT 344.83 670.25 Td (pricing ) Tj ET Q q 0 0 0 rg BT 374.67 670.25 Td (and ) Tj ET Q q 0 0 0 rg BT 390.63 670.25 Td (ef) Tj ET Q q 0 0 0 rg BT 398.21 670.25 Td (ficient ) Tj ET Q q 0 0 0 rg BT 425.27 670.25 Td (delivery ) Tj ET Q q 0 0 0 rg BT 459.55 670.25 Td (of ) Tj ET Q q 0 0 0 rg BT 469.40 670.25 Td (specialty ) Tj ET Q q 0 0 0 rg BT 506.46 670.25 Td (transportation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 89.74 658.25 Td (and ) Tj ET Q q 0 0 0 rg BT 105.61 658.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 122.03 658.25 Td (management ) Tj ET Q q 0 0 0 rg BT 174.55 658.25 Td (products. ) Tj ET Q q 0 0 0 rg BT 212.81 658.25 Td (Through ) Tj ET Q q 0 0 0 rg BT 248.67 658.25 Td (constant ) Tj ET Q q 0 0 0 rg BT 283.42 658.25 Td (interaction ) Tj ET Q q 0 0 0 rg BT 327.61 658.25 Td (with ) Tj ET Q q 0 0 0 rg BT 346.81 658.25 Td (our ) Tj ET Q q 0 0 0 rg BT 361.57 658.25 Td (retail ) Tj ET Q q 0 0 0 rg BT 383.53 658.25 Td (producers, ) Tj ET Q q 0 0 0 rg BT 426.89 658.25 Td (we ) Tj ET Q q 0 0 0 rg BT 439.98 658.25 Td (strive ) Tj ET Q q 0 0 0 rg BT 463.62 658.25 Td (to ) Tj ET Q q 0 0 0 rg BT 472.82 658.25 Td (thoroughly ) Tj ET Q q 0 0 0 rg BT 518.13 658.25 Td (understand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (each ) Tj ET Q q 0 0 0 rg BT 71.08 646.25 Td (of ) Tj ET Q q 0 0 0 rg BT 82.18 646.25 Td (the ) Tj ET Q q 0 0 0 rg BT 97.16 646.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 131.58 646.25 Td (we ) Tj ET Q q 0 0 0 rg BT 146.01 646.25 Td (serve ) Tj ET Q q 0 0 0 rg BT 169.87 646.25 Td (in ) Tj ET Q q 0 0 0 rg BT 180.42 646.25 Td (order ) Tj ET Q q 0 0 0 rg BT 204.28 646.25 Td (to ) Tj ET Q q 0 0 0 rg BT 214.83 646.25 Td (deliver ) Tj ET Q q 0 0 0 rg BT 245.36 646.25 Td (strategically ) Tj ET Q q 0 0 0 rg BT 296.99 646.25 Td (priced ) Tj ET Q q 0 0 0 rg BT 324.74 646.25 Td (products ) Tj ET Q q 0 0 0 rg BT 361.95 646.25 Td (to ) Tj ET Q q 0 0 0 rg BT 372.49 646.25 Td (attractive ) Tj ET Q q 0 0 0 rg BT 412.45 646.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 446.88 646.25 Td (at ) Tj ET Q q 0 0 0 rg BT 456.86 646.25 Td (the ) Tj ET Q q 0 0 0 rg BT 471.84 646.25 Td (right ) Tj ET Q q 0 0 0 rg BT 493.49 646.25 Td (time. ) Tj ET Q q 0 0 0 rg BT 515.92 646.25 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 553.69 646.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (the ) Tj ET Q q 0 0 0 rg BT 65.34 634.25 Td (substantial ) Tj ET Q q 0 0 0 rg BT 111.24 634.25 Td (data ) Tj ET Q q 0 0 0 rg BT 131.02 634.25 Td (available ) Tj ET Q q 0 0 0 rg BT 170.23 634.25 Td (through ) Tj ET Q q 0 0 0 rg BT 204.46 634.25 Td (our ) Tj ET Q q 0 0 0 rg BT 220.92 634.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 261.80 634.25 Td (companies ) Tj ET Q q 0 0 0 rg BT 307.69 634.25 Td (drives ) Tj ET Q q 0 0 0 rg BT 335.25 634.25 Td (our ) Tj ET Q q 0 0 0 rg BT 351.71 634.25 Td (product ) Tj ET Q q 0 0 0 rg BT 385.38 634.25 Td (and ) Tj ET Q q 0 0 0 rg BT 402.94 634.25 Td (pricing ) Tj ET Q q 0 0 0 rg BT 434.39 634.25 Td (decisions. ) Tj ET Q q 0 0 0 rg BT 477.01 634.25 Td (W) Tj ET Q q 0 0 0 rg BT 485.64 634.25 Td (e ) Tj ET Q q 0 0 0 rg BT 493.21 634.25 Td (focus ) Tj ET Q q 0 0 0 rg BT 517.99 634.25 Td (on ) Tj ET Q q 0 0 0 rg BT 531.11 634.25 Td (our ) Tj ET Q q 0 0 0 rg BT 547.57 634.25 Td (key ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (strengths ) Tj ET Q q 0 0 0 rg BT 89.49 622.25 Td (and ) Tj ET Q q 0 0 0 rg BT 107.32 622.25 Td (seek ) Tj ET Q q 0 0 0 rg BT 128.47 622.25 Td (to ) Tj ET Q q 0 0 0 rg BT 139.64 622.25 Td (expand ) Tj ET Q q 0 0 0 rg BT 171.90 622.25 Td (our ) Tj ET Q q 0 0 0 rg BT 188.62 622.25 Td (geographic ) Tj ET Q q 0 0 0 rg BT 236.43 622.25 Td (footprint ) Tj ET Q q 0 0 0 rg BT 274.81 622.25 Td (and ) Tj ET Q q 0 0 0 rg BT 292.63 622.25 Td (products ) Tj ET Q q 0 0 0 rg BT 330.46 622.25 Td (only ) Tj ET Q q 0 0 0 rg BT 351.62 622.25 Td (to ) Tj ET Q q 0 0 0 rg BT 362.79 622.25 Td (the ) Tj ET Q q 0 0 0 rg BT 378.39 622.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 406.21 622.25 Td (these ) Tj ET Q q 0 0 0 rg BT 430.14 622.25 Td (activities ) Tj ET Q q 0 0 0 rg BT 469.63 622.25 Td (support ) Tj ET Q q 0 0 0 rg BT 503.02 622.25 Td (our ) Tj ET Q q 0 0 0 rg BT 519.73 622.25 Td (vision ) Tj ET Q q 0 0 0 rg BT 547.57 622.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (mission. ) Tj ET Q q 0 0 0 rg BT 85.90 610.25 Td (W) Tj ET Q q 0 0 0 rg BT 94.54 610.25 Td (e ) Tj ET Q q 0 0 0 rg BT 101.44 610.25 Td (tar) Tj ET Q q 0 0 0 rg BT 111.80 610.25 Td (get ) Tj ET Q q 0 0 0 rg BT 126.48 610.25 Td (niche ) Tj ET Q q 0 0 0 rg BT 150.59 610.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 184.71 610.25 Td (that ) Tj ET Q q 0 0 0 rg BT 202.16 610.25 Td (support ) Tj ET Q q 0 0 0 rg BT 234.62 610.25 Td (adequate ) Tj ET Q q 0 0 0 rg BT 272.62 610.25 Td (pricing ) Tj ET Q q 0 0 0 rg BT 303.40 610.25 Td (and ) Tj ET Q q 0 0 0 rg BT 320.30 610.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 351.63 610.25 Td (we ) Tj ET Q q 0 0 0 rg BT 365.75 610.25 Td (are ) Tj ET Q q 0 0 0 rg BT 380.42 610.25 Td (able ) Tj ET Q q 0 0 0 rg BT 399.53 610.25 Td (to ) Tj ET Q q 0 0 0 rg BT 409.77 610.25 Td (adapt ) Tj ET Q q 0 0 0 rg BT 433.89 610.25 Td (to ) Tj ET Q q 0 0 0 rg BT 444.13 610.25 Td (changing ) Tj ET Q q 0 0 0 rg BT 483.24 610.25 Td (market ) Tj ET Q q 0 0 0 rg BT 513.47 610.25 Td (needs ) Tj ET Q q 0 0 0 rg BT 538.69 610.25 Td (ahead ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 598.25 Td (our ) Tj ET Q q 0 0 0 rg BT 76.66 598.25 Td (competitors ) Tj ET Q q 0 0 0 rg BT 126.37 598.25 Td (through ) Tj ET Q q 0 0 0 rg BT 159.98 598.25 Td (our ) Tj ET Q q 0 0 0 rg BT 175.81 598.25 Td (strategic ) Tj ET Q q 0 0 0 rg BT 212.18 598.25 Td (commitment ) Tj ET Q q 0 0 0 rg BT 265.23 598.25 Td (and ) Tj ET Q q 0 0 0 rg BT 282.17 598.25 Td (increasing ) Tj ET Q q 0 0 0 rg BT 325.76 598.25 Td (scale.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (Outlook) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (Over ) Tj ET Q q 0 0 0 rg BT 72.28 550.25 Td (the ) Tj ET Q q 0 0 0 rg BT 86.78 550.25 Td (past ) Tj ET Q q 0 0 0 rg BT 105.18 550.25 Td (four ) Tj ET Q q 0 0 0 rg BT 124.13 550.25 Td (years, ) Tj ET Q q 0 0 0 rg BT 150.01 550.25 Td (through ) Tj ET Q q 0 0 0 rg BT 183.41 550.25 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 239.56 550.25 Td (re-or) Tj ET Q q 0 0 0 rg BT 258.81 550.25 Td (ganization, ) Tj ET Q q 0 0 0 rg BT 305.24 550.25 Td (dispositions ) Tj ET Q q 0 0 0 rg BT 355.32 550.25 Td (and ) Tj ET Q q 0 0 0 rg BT 372.05 550.25 Td (by ) Tj ET Q q 0 0 0 rg BT 384.33 550.25 Td (placing ) Tj ET Q q 0 0 0 rg BT 416.05 550.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 445.54 550.25 Td (lines ) Tj ET Q q 0 0 0 rg BT 466.72 550.25 Td (of ) Tj ET Q q 0 0 0 rg BT 477.34 550.25 Td (business ) Tj ET Q q 0 0 0 rg BT 513.52 550.25 Td (into ) Tj ET Q q 0 0 0 rg BT 531.36 550.25 Td (run-of) Tj ET Q q 0 0 0 rg BT 556.17 550.25 Td (f, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (the ) Tj ET Q q 0 0 0 rg BT 66.32 538.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 108.73 538.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 160.05 538.25 Td (have ) Tj ET Q q 0 0 0 rg BT 183.03 538.25 Td (streamlined ) Tj ET Q q 0 0 0 rg BT 233.78 538.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 279.54 538.25 Td (to ) Tj ET Q q 0 0 0 rg BT 291.42 538.25 Td (focus ) Tj ET Q q 0 0 0 rg BT 317.18 538.25 Td (on ) Tj ET Q q 0 0 0 rg BT 331.28 538.25 Td (the ) Tj ET Q q 0 0 0 rg BT 347.60 538.25 Td (lines ) Tj ET Q q 0 0 0 rg BT 370.59 538.25 Td (of ) Tj ET Q q 0 0 0 rg BT 383.02 538.25 Td (business ) Tj ET Q q 0 0 0 rg BT 421.01 538.25 Td (we ) Tj ET Q q 0 0 0 rg BT 436.77 538.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 469.74 538.25 Td (will ) Tj ET Q q 0 0 0 rg BT 489.40 538.25 Td (leverage ) Tj ET Q q 0 0 0 rg BT 527.36 538.25 Td (our ) Tj ET Q q 0 0 0 rg BT 544.80 538.25 Td (core ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (competencies ) Tj ET Q q 0 0 0 rg BT 107.95 526.25 Td (and ) Tj ET Q q 0 0 0 rg BT 125.93 526.25 Td (produce ) Tj ET Q q 0 0 0 rg BT 161.67 526.25 Td (favorable ) Tj ET Q q 0 0 0 rg BT 202.96 526.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 258.15 526.25 Td (results. ) Tj ET Q q 0 0 0 rg BT 290.29 526.25 Td ( ) Tj ET Q q 0 0 0 rg BT 293.83 526.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 341.25 526.25 Td (progress ) Tj ET Q q 0 0 0 rg BT 378.66 526.25 Td (has ) Tj ET Q q 0 0 0 rg BT 395.53 526.25 Td (been ) Tj ET Q q 0 0 0 rg BT 417.94 526.25 Td (made ) Tj ET Q q 0 0 0 rg BT 443.13 526.25 Td (in ) Tj ET Q q 0 0 0 rg BT 454.44 526.25 Td (aligning ) Tj ET Q q 0 0 0 rg BT 490.75 526.25 Td (the ) Tj ET Q q 0 0 0 rg BT 506.50 526.25 Td (or) Tj ET Q q 0 0 0 rg BT 514.65 526.25 Td (ganization's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 107.04 514.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 126.32 514.25 Td (base ) Tj ET Q q 0 0 0 rg BT 147.27 514.25 Td (to ) Tj ET Q q 0 0 0 rg BT 158.22 514.25 Td (our ) Tj ET Q q 0 0 0 rg BT 174.72 514.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 213.43 514.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 248.25 514.25 Td (stream ) Tj ET Q q 0 0 0 rg BT 278.08 514.25 Td (going ) Tj ET Q q 0 0 0 rg BT 304.04 514.25 Td (forward. ) Tj ET Q q 0 0 0 rg BT 341.36 514.25 Td ( ) Tj ET Q q 0 0 0 rg BT 344.31 514.25 Td (The ) Tj ET Q q 0 0 0 rg BT 363.03 514.25 Td (core ) Tj ET Q q 0 0 0 rg BT 383.41 514.25 Td (functions ) Tj ET Q q 0 0 0 rg BT 423.80 514.25 Td (of ) Tj ET Q q 0 0 0 rg BT 435.31 514.25 Td (the ) Tj ET Q q 0 0 0 rg BT 450.70 514.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 492.19 514.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 542.58 514.25 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (integrated ) Tj ET Q q 0 0 0 rg BT 92.18 502.25 Td (into ) Tj ET Q q 0 0 0 rg BT 109.94 502.25 Td (a ) Tj ET Q q 0 0 0 rg BT 116.58 502.25 Td (common, ) Tj ET Q q 0 0 0 rg BT 156.28 502.25 Td (best ) Tj ET Q q 0 0 0 rg BT 174.59 502.25 Td (practice ) Tj ET Q q 0 0 0 rg BT 208.43 502.25 Td (based, ) Tj ET Q q 0 0 0 rg BT 235.90 502.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 275.87 502.25 Td (platform. ) Tj ET Q q 0 0 0 rg BT 315.00 502.25 Td (Management ) Tj ET Q q 0 0 0 rg BT 369.41 502.25 Td (believes ) Tj ET Q q 0 0 0 rg BT 404.38 502.25 Td (that ) Tj ET Q q 0 0 0 rg BT 421.57 502.25 Td (our ) Tj ET Q q 0 0 0 rg BT 437.10 502.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 477.62 502.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 527.04 502.25 Td (are ) Tj ET Q q 0 0 0 rg BT 541.45 502.25 Td (well-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (positioned ) Tj ET Q q 0 0 0 rg BT 94.33 490.25 Td (to ) Tj ET Q q 0 0 0 rg BT 104.78 490.25 Td (return ) Tj ET Q q 0 0 0 rg BT 131.33 490.25 Td (to ) Tj ET Q q 0 0 0 rg BT 141.77 490.25 Td (the ) Tj ET Q q 0 0 0 rg BT 156.66 490.25 Td (volume ) Tj ET Q q 0 0 0 rg BT 189.32 490.25 Td (of ) Tj ET Q q 0 0 0 rg BT 200.32 490.25 Td (premium ) Tj ET Q q 0 0 0 rg BT 239.09 490.25 Td (they ) Tj ET Q q 0 0 0 rg BT 258.98 490.25 Td (wrote ) Tj ET Q q 0 0 0 rg BT 284.41 490.25 Td (in ) Tj ET Q q 0 0 0 rg BT 294.86 490.25 Td (the ) Tj ET Q q 0 0 0 rg BT 309.75 490.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 336.84 490.25 Td (past ) Tj ET Q q 0 0 0 rg BT 355.62 490.25 Td (and ) Tj ET Q q 0 0 0 rg BT 372.72 490.25 Td (continue ) Tj ET Q q 0 0 0 rg BT 409.82 490.25 Td (to ) Tj ET Q q 0 0 0 rg BT 420.27 490.25 Td (grow ) Tj ET Q q 0 0 0 rg BT 443.49 490.25 Td (to ) Tj ET Q q 0 0 0 rg BT 453.94 490.25 Td (proportionate ) Tj ET Q q 0 0 0 rg BT 510.48 490.25 Td (market ) Tj ET Q q 0 0 0 rg BT 540.91 490.25 Td (share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (of ) Tj ET Q q 0 0 0 rg BT 62.06 478.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 123.55 478.25 Td (20% ) Tj ET Q q 0 0 0 rg BT 145.61 478.25 Td (in ) Tj ET Q q 0 0 0 rg BT 157.12 478.25 Td (all ) Tj ET Q q 0 0 0 rg BT 170.84 478.25 Td (of ) Tj ET Q q 0 0 0 rg BT 182.90 478.25 Td (the ) Tj ET Q q 0 0 0 rg BT 198.85 478.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 234.23 478.25 Td (in ) Tj ET Q q 0 0 0 rg BT 245.74 478.25 Td (which ) Tj ET Q q 0 0 0 rg BT 273.91 478.25 Td (we ) Tj ET Q q 0 0 0 rg BT 289.30 478.25 Td (operate ) Tj ET Q q 0 0 0 rg BT 322.45 478.25 Td (with ) Tj ET Q q 0 0 0 rg BT 343.96 478.25 Td (better ) Tj ET Q q 0 0 0 rg BT 370.45 478.25 Td (than ) Tj ET Q q 0 0 0 rg BT 391.40 478.25 Td (industry ) Tj ET Q q 0 0 0 rg BT 427.90 478.25 Td (level ) Tj ET Q q 0 0 0 rg BT 451.07 478.25 Td (profitability) Tj ET Q q 0 0 0 rg BT 498.19 478.25 Td (. ) Tj ET Q q 0 0 0 rg BT 504.42 478.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 523.70 478.25 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 100.12 466.25 Td (have ) Tj ET Q q 0 0 0 rg BT 121.89 466.25 Td (a ) Tj ET Q q 0 0 0 rg BT 129.23 466.25 Td (long ) Tj ET Q q 0 0 0 rg BT 149.91 466.25 Td (heritage ) Tj ET Q q 0 0 0 rg BT 185.01 466.25 Td (with ) Tj ET Q q 0 0 0 rg BT 205.69 466.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 236.91 466.25 Td (to ) Tj ET Q q 0 0 0 rg BT 247.59 466.25 Td (their ) Tj ET Q q 0 0 0 rg BT 268.81 466.25 Td (continuing ) Tj ET Q q 0 0 0 rg BT 314.49 466.25 Td (lines ) Tj ET Q q 0 0 0 rg BT 336.27 466.25 Td (of ) Tj ET Q q 0 0 0 rg BT 347.50 466.25 Td (business ) Tj ET Q q 0 0 0 rg BT 384.30 466.25 Td (and ) Tj ET Q q 0 0 0 rg BT 401.64 466.25 Td (will ) Tj ET Q q 0 0 0 rg BT 420.09 466.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 450.76 466.25 Td (from ) Tj ET Q q 0 0 0 rg BT 473.10 466.25 Td (the ) Tj ET Q q 0 0 0 rg BT 488.21 466.25 Td (ef) Tj ET Q q 0 0 0 rg BT 495.80 466.25 Td (ficient ) Tj ET Q q 0 0 0 rg BT 524.24 466.25 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 106.37 454.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 144.97 454.25 Td (in ) Tj ET Q q 0 0 0 rg BT 155.25 454.25 Td (place. ) Tj ET Q q 0 0 0 rg BT 181.17 454.25 Td (Through ) Tj ET Q q 0 0 0 rg BT 218.11 454.25 Td (its ) Tj ET Q q 0 0 0 rg BT 230.06 454.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 270.88 454.25 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 322.55 454.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 346.17 454.25 Td (actively ) Tj ET Q q 0 0 0 rg BT 380.32 454.25 Td (wrote ) Tj ET Q q 0 0 0 rg BT 405.59 454.25 Td (business ) Tj ET Q q 0 0 0 rg BT 441.99 454.25 Td (in ) Tj ET Q q 0 0 0 rg BT 452.27 454.25 Td (40 ) Tj ET Q q 0 0 0 rg BT 464.78 454.25 Td (states ) Tj ET Q q 0 0 0 rg BT 489.50 454.25 Td (and ) Tj ET Q q 0 0 0 rg BT 506.44 454.25 Td (the ) Tj ET Q q 0 0 0 rg BT 521.17 454.25 Td (District ) Tj ET Q q 0 0 0 rg BT 553.67 454.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (Columbia ) Tj ET Q q 0 0 0 rg BT 91.94 442.25 Td (during ) Tj ET Q q 0 0 0 rg BT 120.55 442.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 143.05 442.25 Td (utilizing ) Tj ET Q q 0 0 0 rg BT 178.88 442.25 Td (our ) Tj ET Q q 0 0 0 rg BT 194.71 442.25 Td (well ) Tj ET Q q 0 0 0 rg BT 214.43 442.25 Td (developed ) Tj ET Q q 0 0 0 rg BT 258.02 442.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 312.18 442.25 Td (and ) Tj ET Q q 0 0 0 rg BT 329.12 442.25 Td (claim ) Tj ET Q q 0 0 0 rg BT 353.83 442.25 Td (methodology) Tj ET Q q 0 0 0 rg BT 405.95 442.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 418.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.29 418.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 96.37 418.25 Td (that ) Tj ET Q q 0 0 0 rg BT 113.58 418.25 Td (the ) Tj ET Q q 0 0 0 rg BT 128.00 418.25 Td (most ) Tj ET Q q 0 0 0 rg BT 149.66 418.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 194.09 418.25 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 249.07 418.25 Td (going ) Tj ET Q q 0 0 0 rg BT 274.06 418.25 Td (forward ) Tj ET Q q 0 0 0 rg BT 307.92 418.25 Td (are: ) Tj ET Q q 0 0 0 rg BT 325.12 418.25 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 336.77 418.25 Td (continued ) Tj ET Q q 0 0 0 rg BT 378.41 418.25 Td (re-ener) Tj ET Q q 0 0 0 rg BT 406.54 418.25 Td (gizing ) Tj ET Q q 0 0 0 rg BT 433.74 418.25 Td (of ) Tj ET Q q 0 0 0 rg BT 444.28 418.25 Td (distribution ) Tj ET Q q 0 0 0 rg BT 492.61 418.25 Td (channels ) Tj ET Q q 0 0 0 rg BT 529.80 418.25 Td (with ) Tj ET Q q 0 0 0 rg BT 549.79 418.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (objective ) Tj ET Q q 0 0 0 rg BT 88.82 406.25 Td (of ) Tj ET Q q 0 0 0 rg BT 99.32 406.25 Td (recapturing ) Tj ET Q q 0 0 0 rg BT 147.02 406.25 Td (business ) Tj ET Q q 0 0 0 rg BT 183.08 406.25 Td (generated ) Tj ET Q q 0 0 0 rg BT 224.11 406.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 245.71 406.25 Td (to ) Tj ET Q q 0 0 0 rg BT 255.66 406.25 Td (2009, ) Tj ET Q q 0 0 0 rg BT 280.33 406.25 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 294.71 406.25 Td (building ) Tj ET Q q 0 0 0 rg BT 330.21 406.25 Td (business ) Tj ET Q q 0 0 0 rg BT 366.27 406.25 Td (in ) Tj ET Q q 0 0 0 rg BT 376.22 406.25 Td (previously ) Tj ET Q q 0 0 0 rg BT 420.61 406.25 Td (untapped ) Tj ET Q q 0 0 0 rg BT 459.43 406.25 Td (geographic ) Tj ET Q q 0 0 0 rg BT 506.02 406.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 539.84 406.25 Td (to ) Tj ET Q q 0 0 0 rg BT 549.79 406.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 77.04 394.25 Td (that ) Tj ET Q q 0 0 0 rg BT 94.65 394.25 Td (they ) Tj ET Q q 0 0 0 rg BT 114.47 394.25 Td (meet ) Tj ET Q q 0 0 0 rg BT 136.51 394.25 Td (our ) Tj ET Q q 0 0 0 rg BT 152.45 394.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 186.16 394.25 Td (criteria ) Tj ET Q q 0 0 0 rg BT 217.08 394.25 Td (where ) Tj ET Q q 0 0 0 rg BT 244.11 394.25 Td (our ) Tj ET Q q 0 0 0 rg BT 260.05 394.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 300.98 394.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 350.80 394.25 Td (are ) Tj ET Q q 0 0 0 rg BT 365.62 394.25 Td (licensed, ) Tj ET Q q 0 0 0 rg BT 403.49 394.25 Td (but ) Tj ET Q q 0 0 0 rg BT 418.88 394.25 Td (not ) Tj ET Q q 0 0 0 rg BT 434.27 394.25 Td (active ) Tj ET Q q 0 0 0 rg BT 460.75 394.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 482.79 394.25 Td (to ) Tj ET Q q 0 0 0 rg BT 492.60 394.25 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 518.12 394.25 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (of ) Tj ET Q q 0 0 0 rg BT 61.62 382.25 Td (these ) Tj ET Q q 0 0 0 rg BT 85.46 382.25 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 138.46 382.25 Td (and ) Tj ET Q q 0 0 0 rg BT 156.19 382.25 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 174.48 382.25 Td (opportunistically ) Tj ET Q q 0 0 0 rg BT 245.54 382.25 Td (acquiring ) Tj ET Q q 0 0 0 rg BT 286.59 382.25 Td (books ) Tj ET Q q 0 0 0 rg BT 313.77 382.25 Td (of ) Tj ET Q q 0 0 0 rg BT 325.39 382.25 Td (business ) Tj ET Q q 0 0 0 rg BT 362.57 382.25 Td (or ) Tj ET Q q 0 0 0 rg BT 374.19 382.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 405.26 382.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 446.86 382.25 Td (companies, ) Tj ET Q q 0 0 0 rg BT 495.42 382.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 534.25 382.25 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 93.38 370.25 Td (support ) Tj ET Q q 0 0 0 rg BT 125.10 370.25 Td (this ) Tj ET Q q 0 0 0 rg BT 141.27 370.25 Td (activity) Tj ET Q q 0 0 0 rg BT 170.61 370.25 Td (. ) Tj ET Q q 0 0 0 rg BT 174.83 370.25 Td (Primary ) Tj ET Q q 0 0 0 rg BT 208.76 370.25 Td (potential ) Tj ET Q q 0 0 0 rg BT 245.47 370.25 Td (risks ) Tj ET Q q 0 0 0 rg BT 266.08 370.25 Td (related ) Tj ET Q q 0 0 0 rg BT 295.00 370.25 Td (to ) Tj ET Q q 0 0 0 rg BT 304.50 370.25 Td (these ) Tj ET Q q 0 0 0 rg BT 326.77 370.25 Td (activities ) Tj ET Q q 0 0 0 rg BT 364.58 370.25 Td (include: ) Tj ET Q q 0 0 0 rg BT 398.52 370.25 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 409.67 370.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 449.71 370.25 Td (market ) Tj ET Q q 0 0 0 rg BT 479.19 370.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 522.57 370.25 Td (becoming ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (or ) Tj ET Q q 0 0 0 rg BT 60.91 358.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 104.03 358.25 Td (soft ) Tj ET Q q 0 0 0 rg BT 130.49 358.25 Td (for ) Tj ET Q q 0 0 0 rg BT 144.73 358.25 Td (a ) Tj ET Q q 0 0 0 rg BT 151.75 358.25 Td (sustained ) Tj ET Q q 0 0 0 rg BT 191.55 358.25 Td (period ) Tj ET Q q 0 0 0 rg BT 219.68 358.25 Td (of ) Tj ET Q q 0 0 0 rg BT 230.59 358.25 Td (time, ) Tj ET Q q 0 0 0 rg BT 253.44 358.25 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 268.24 358.25 Td (not ) Tj ET Q q 0 0 0 rg BT 283.60 358.25 Td (being ) Tj ET Q q 0 0 0 rg BT 308.39 358.25 Td (able ) Tj ET Q q 0 0 0 rg BT 327.63 358.25 Td (to ) Tj ET Q q 0 0 0 rg BT 337.99 358.25 Td (achieve ) Tj ET Q q 0 0 0 rg BT 371.10 358.25 Td (the ) Tj ET Q q 0 0 0 rg BT 385.90 358.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 424.01 358.25 Td (support ) Tj ET Q q 0 0 0 rg BT 456.59 358.25 Td (from ) Tj ET Q q 0 0 0 rg BT 478.61 358.25 Td (distribution ) Tj ET Q q 0 0 0 rg BT 527.30 358.25 Td (partners, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 346.25 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 84.43 346.25 Td (the ) Tj ET Q q 0 0 0 rg BT 99.15 346.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 139.97 346.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 189.68 346.25 Td (not ) Tj ET Q q 0 0 0 rg BT 204.96 346.25 Td (successfully ) Tj ET Q q 0 0 0 rg BT 256.34 346.25 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 306.61 346.25 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 354.64 346.25 Td (ratings ) Tj ET Q q 0 0 0 rg BT 384.36 346.25 Td (from ) Tj ET Q q 0 0 0 rg BT 405.74 346.25 Td (A.M. ) Tj ET Q q 0 0 0 rg BT 429.36 346.25 Td (Best. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 322.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.98 322.25 Td (seek ) Tj ET Q q 0 0 0 rg BT 86.66 322.25 Td (to ) Tj ET Q q 0 0 0 rg BT 97.34 322.25 Td (deploy ) Tj ET Q q 0 0 0 rg BT 127.46 322.25 Td (our ) Tj ET Q q 0 0 0 rg BT 143.70 322.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 173.25 322.25 Td (to ) Tj ET Q q 0 0 0 rg BT 183.94 322.25 Td (maximize ) Tj ET Q q 0 0 0 rg BT 226.27 322.25 Td (the ) Tj ET Q q 0 0 0 rg BT 241.39 322.25 Td (return ) Tj ET Q q 0 0 0 rg BT 268.17 322.25 Td (for ) Tj ET Q q 0 0 0 rg BT 282.74 322.25 Td (our ) Tj ET Q q 0 0 0 rg BT 298.97 322.25 Td (shareholders, ) Tj ET Q q 0 0 0 rg BT 354.92 322.25 Td (either ) Tj ET Q q 0 0 0 rg BT 380.59 322.25 Td (by ) Tj ET Q q 0 0 0 rg BT 393.49 322.25 Td (investing ) Tj ET Q q 0 0 0 rg BT 433.06 322.25 Td (in ) Tj ET Q q 0 0 0 rg BT 443.75 322.25 Td (growing ) Tj ET Q q 0 0 0 rg BT 479.98 322.25 Td (our ) Tj ET Q q 0 0 0 rg BT 496.22 322.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 540.78 322.25 Td (or ) Tj ET Q q 0 0 0 rg BT 552.01 322.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (pursuing ) Tj ET Q q 0 0 0 rg BT 88.06 310.25 Td (other ) Tj ET Q q 0 0 0 rg BT 111.67 310.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 141.38 310.25 Td (initiatives, ) Tj ET Q q 0 0 0 rg BT 186.38 310.25 Td (depending ) Tj ET Q q 0 0 0 rg BT 231.10 310.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 254.16 310.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 295.54 310.25 Td (and ) Tj ET Q q 0 0 0 rg BT 313.04 310.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 342.75 310.25 Td (market ) Tj ET Q q 0 0 0 rg BT 373.57 310.25 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 420.58 310.25 Td (W) Tj ET Q q 0 0 0 rg BT 429.22 310.25 Td (e ) Tj ET Q q 0 0 0 rg BT 436.72 310.25 Td (focus ) Tj ET Q q 0 0 0 rg BT 461.44 310.25 Td (on ) Tj ET Q q 0 0 0 rg BT 474.50 310.25 Td (our ) Tj ET Q q 0 0 0 rg BT 490.89 310.25 Td (key ) Tj ET Q q 0 0 0 rg BT 508.39 310.25 Td (strengths ) Tj ET Q q 0 0 0 rg BT 547.56 310.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (seek ) Tj ET Q q 0 0 0 rg BT 70.41 298.25 Td (to ) Tj ET Q q 0 0 0 rg BT 80.83 298.25 Td (expand ) Tj ET Q q 0 0 0 rg BT 112.35 298.25 Td (our ) Tj ET Q q 0 0 0 rg BT 128.32 298.25 Td (geographic ) Tj ET Q q 0 0 0 rg BT 175.39 298.25 Td (footprint ) Tj ET Q q 0 0 0 rg BT 213.02 298.25 Td (and ) Tj ET Q q 0 0 0 rg BT 230.10 298.25 Td (products ) Tj ET Q q 0 0 0 rg BT 267.18 298.25 Td (only ) Tj ET Q q 0 0 0 rg BT 287.60 298.25 Td (to ) Tj ET Q q 0 0 0 rg BT 298.02 298.25 Td (the ) Tj ET Q q 0 0 0 rg BT 312.88 298.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 339.96 298.25 Td (these ) Tj ET Q q 0 0 0 rg BT 363.14 298.25 Td (activities ) Tj ET Q q 0 0 0 rg BT 401.88 298.25 Td (support ) Tj ET Q q 0 0 0 rg BT 434.53 298.25 Td (our ) Tj ET Q q 0 0 0 rg BT 450.50 298.25 Td (vision ) Tj ET Q q 0 0 0 rg BT 477.59 298.25 Td (and ) Tj ET Q q 0 0 0 rg BT 494.67 298.25 Td (mission. ) Tj ET Q q 0 0 0 rg BT 530.74 298.25 Td (W) Tj ET Q q 0 0 0 rg BT 539.37 298.25 Td (e ) Tj ET Q q 0 0 0 rg BT 546.45 298.25 Td (will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (identify ) Tj ET Q q 0 0 0 rg BT 84.57 286.25 Td (and ) Tj ET Q q 0 0 0 rg BT 102.48 286.25 Td (prioritize ) Tj ET Q q 0 0 0 rg BT 142.59 286.25 Td (market ) Tj ET Q q 0 0 0 rg BT 173.82 286.25 Td (expansion ) Tj ET Q q 0 0 0 rg BT 217.84 286.25 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 274.08 286.25 Td (based ) Tj ET Q q 0 0 0 rg BT 300.31 286.25 Td (on ) Tj ET Q q 0 0 0 rg BT 313.78 286.25 Td (the ) Tj ET Q q 0 0 0 rg BT 329.46 286.25 Td (comparative ) Tj ET Q q 0 0 0 rg BT 382.35 286.25 Td (strength ) Tj ET Q q 0 0 0 rg BT 418.03 286.25 Td (of ) Tj ET Q q 0 0 0 rg BT 429.83 286.25 Td (our ) Tj ET Q q 0 0 0 rg BT 446.63 286.25 Td (value ) Tj ET Q q 0 0 0 rg BT 471.75 286.25 Td (proposition ) Tj ET Q q 0 0 0 rg BT 520.77 286.25 Td (relative ) Tj ET Q q 0 0 0 rg BT 554.22 286.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (competitors, ) Tj ET Q q 0 0 0 rg BT 102.21 274.25 Td (the ) Tj ET Q q 0 0 0 rg BT 116.93 274.25 Td (market ) Tj ET Q q 0 0 0 rg BT 147.19 274.25 Td (opportunity ) Tj ET Q q 0 0 0 rg BT 196.36 274.25 Td (and ) Tj ET Q q 0 0 0 rg BT 213.30 274.25 Td (the ) Tj ET Q q 0 0 0 rg BT 228.01 274.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 249.95 274.25 Td (and ) Tj ET Q q 0 0 0 rg BT 266.88 274.25 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 310.48 274.25 Td (environment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 250.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.58 250.25 Td (intend ) Tj ET Q q 0 0 0 rg BT 93.07 250.25 Td (to ) Tj ET Q q 0 0 0 rg BT 103.35 250.25 Td (continue ) Tj ET Q q 0 0 0 rg BT 140.28 250.25 Td (to ) Tj ET Q q 0 0 0 rg BT 150.56 250.25 Td (grow ) Tj ET Q q 0 0 0 rg BT 173.61 250.25 Td (profitably ) Tj ET Q q 0 0 0 rg BT 215.55 250.25 Td (by ) Tj ET Q q 0 0 0 rg BT 228.05 250.25 Td (undertaking ) Tj ET Q q 0 0 0 rg BT 278.31 250.25 Td (the ) Tj ET Q q 0 0 0 rg BT 293.03 250.25 Td (following:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 226.25 Td (Re-establish ) Tj ET Q q 0 0 0 rg BT 138.49 226.25 Td (legacy ) Tj ET Q q 0 0 0 rg BT 167.64 226.25 Td (distribution ) Tj ET Q q 0 0 0 rg BT 217.38 226.25 Td (r) Tj ET Q q 0 0 0 rg BT 220.90 226.25 Td (elationships. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.79 226.25 Td (W) Tj ET Q q 0 0 0 rg BT 283.43 226.25 Td (e ) Tj ET Q q 0 0 0 rg BT 290.92 226.25 Td (continue ) Tj ET Q q 0 0 0 rg BT 328.42 226.25 Td (to ) Tj ET Q q 0 0 0 rg BT 339.25 226.25 Td (build ) Tj ET Q q 0 0 0 rg BT 362.87 226.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 385.93 226.25 Td (relationships ) Tj ET Q q 0 0 0 rg BT 440.09 226.25 Td (with ) Tj ET Q q 0 0 0 rg BT 460.92 226.25 Td (independent ) Tj ET Q q 0 0 0 rg BT 512.85 226.25 Td (retail ) Tj ET Q q 0 0 0 rg BT 536.45 226.25 Td (agents ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.25 Td (that ) Tj ET Q q 0 0 0 rg BT 104.03 214.25 Td (have ) Tj ET Q q 0 0 0 rg BT 125.93 214.25 Td (been ) Tj ET Q q 0 0 0 rg BT 147.84 214.25 Td (our ) Tj ET Q q 0 0 0 rg BT 164.20 214.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 205.55 214.25 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 255.36 214.25 Td ( ) Tj ET Q q 0 0 0 rg BT 258.39 214.25 Td (distribution ) Tj ET Q q 0 0 0 rg BT 307.53 214.25 Td (partners ) Tj ET Q q 0 0 0 rg BT 342.77 214.25 Td (in ) Tj ET Q q 0 0 0 rg BT 353.58 214.25 Td (the ) Tj ET Q q 0 0 0 rg BT 368.83 214.25 Td (past. ) Tj ET Q q 0 0 0 rg BT 390.25 214.25 Td (W) Tj ET Q q 0 0 0 rg BT 398.89 214.25 Td (e ) Tj ET Q q 0 0 0 rg BT 406.35 214.25 Td (seek ) Tj ET Q q 0 0 0 rg BT 427.15 214.25 Td (to ) Tj ET Q q 0 0 0 rg BT 437.96 214.25 Td (develop ) Tj ET Q q 0 0 0 rg BT 472.65 214.25 Td (and ) Tj ET Q q 0 0 0 rg BT 490.12 214.25 Td (maintain ) Tj ET Q q 0 0 0 rg BT 528.14 214.25 Td (strategic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.25 Td (distribution ) Tj ET Q q 0 0 0 rg BT 134.26 202.25 Td (relationships ) Tj ET Q q 0 0 0 rg BT 187.52 202.25 Td (with ) Tj ET Q q 0 0 0 rg BT 207.44 202.25 Td (a ) Tj ET Q q 0 0 0 rg BT 214.03 202.25 Td (relatively ) Tj ET Q q 0 0 0 rg BT 253.94 202.25 Td (small ) Tj ET Q q 0 0 0 rg BT 277.76 202.25 Td (number ) Tj ET Q q 0 0 0 rg BT 310.45 202.25 Td (of ) Tj ET Q q 0 0 0 rg BT 320.93 202.25 Td (independent ) Tj ET Q q 0 0 0 rg BT 371.96 202.25 Td (retail ) Tj ET Q q 0 0 0 rg BT 394.65 202.25 Td (agents ) Tj ET Q q 0 0 0 rg BT 422.34 202.25 Td (with ) Tj ET Q q 0 0 0 rg BT 442.27 202.25 Td (substantial ) Tj ET Q q 0 0 0 rg BT 487.20 202.25 Td (market ) Tj ET Q q 0 0 0 rg BT 517.11 202.25 Td (presence ) Tj ET Q q 0 0 0 rg BT 554.23 202.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 190.25 Td (each ) Tj ET Q q 0 0 0 rg BT 107.02 190.25 Td (state ) Tj ET Q q 0 0 0 rg BT 128.05 190.25 Td (in ) Tj ET Q q 0 0 0 rg BT 138.54 190.25 Td (which ) Tj ET Q q 0 0 0 rg BT 165.68 190.25 Td (we ) Tj ET Q q 0 0 0 rg BT 180.05 190.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 218.85 190.25 Td (operate. ) Tj ET Q q 0 0 0 rg BT 253.29 190.25 Td (W) Tj ET Q q 0 0 0 rg BT 261.92 190.25 Td (e ) Tj ET Q q 0 0 0 rg BT 269.07 190.25 Td (expect ) Tj ET Q q 0 0 0 rg BT 297.87 190.25 Td (to ) Tj ET Q q 0 0 0 rg BT 308.35 190.25 Td (continue ) Tj ET Q q 0 0 0 rg BT 345.49 190.25 Td (to ) Tj ET Q q 0 0 0 rg BT 355.98 190.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 391.44 190.25 Td (the ) Tj ET Q q 0 0 0 rg BT 406.36 190.25 Td (distribution ) Tj ET Q q 0 0 0 rg BT 455.18 190.25 Td (of ) Tj ET Q q 0 0 0 rg BT 466.22 190.25 Td (our ) Tj ET Q q 0 0 0 rg BT 482.25 190.25 Td (core ) Tj ET Q q 0 0 0 rg BT 502.17 190.25 Td (products ) Tj ET Q q 0 0 0 rg BT 539.31 190.25 Td (in ) Tj ET Q q 0 0 0 rg BT 549.80 190.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.25 Td (states ) Tj ET Q q 0 0 0 rg BT 111.11 178.25 Td (where ) Tj ET Q q 0 0 0 rg BT 138.43 178.25 Td (we ) Tj ET Q q 0 0 0 rg BT 152.99 178.25 Td (are ) Tj ET Q q 0 0 0 rg BT 168.09 178.25 Td (actively ) Tj ET Q q 0 0 0 rg BT 202.64 178.25 Td (writing ) Tj ET Q q 0 0 0 rg BT 234.42 178.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 275.63 178.25 Td (and ) Tj ET Q q 0 0 0 rg BT 292.96 178.25 Td (re-capture ) Tj ET Q q 0 0 0 rg BT 336.38 178.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 377.59 178.25 Td (premium ) Tj ET Q q 0 0 0 rg BT 416.58 178.25 Td (historically ) Tj ET Q q 0 0 0 rg BT 464.47 178.25 Td (written ) Tj ET Q q 0 0 0 rg BT 495.69 178.25 Td (by ) Tj ET Q q 0 0 0 rg BT 508.58 178.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.70 178.25 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.25 Td (subsidiaries.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 142.25 Td (Expand ) Tj ET Q q 0 0 0 rg BT 119.00 142.25 Td (our ) Tj ET Q q 0 0 0 rg BT 135.34 142.25 Td (market ) Tj ET Q q 0 0 0 rg BT 165.55 142.25 Td (pr) Tj ET Q q 0 0 0 rg BT 174.07 142.25 Td (esence.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.22 142.25 Td ( ) Tj ET Q q 0 0 0 rg BT 205.49 142.25 Td (W) Tj ET Q q 0 0 0 rg BT 214.13 142.25 Td (e ) Tj ET Q q 0 0 0 rg BT 221.02 142.25 Td (are ) Tj ET Q q 0 0 0 rg BT 235.67 142.25 Td (committed ) Tj ET Q q 0 0 0 rg BT 280.89 142.25 Td (to ) Tj ET Q q 0 0 0 rg BT 291.12 142.25 Td (continuing ) Tj ET Q q 0 0 0 rg BT 336.34 142.25 Td (to ) Tj ET Q q 0 0 0 rg BT 346.57 142.25 Td (diversify ) Tj ET Q q 0 0 0 rg BT 384.56 142.25 Td (by ) Tj ET Q q 0 0 0 rg BT 397.01 142.25 Td (leveraging ) Tj ET Q q 0 0 0 rg BT 441.66 142.25 Td (our ) Tj ET Q q 0 0 0 rg BT 457.44 142.25 Td (experience, ) Tj ET Q q 0 0 0 rg BT 505.69 142.25 Td (historical ) Tj ET Q q 0 0 0 rg BT 545.35 142.25 Td (data ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 130.25 Td (and ) Tj ET Q q 0 0 0 rg BT 102.93 130.25 Td (market ) Tj ET Q q 0 0 0 rg BT 133.18 130.25 Td (research ) Tj ET Q q 0 0 0 rg BT 168.97 130.25 Td (to ) Tj ET Q q 0 0 0 rg BT 179.23 130.25 Td (expand ) Tj ET Q q 0 0 0 rg BT 210.60 130.25 Td (our ) Tj ET Q q 0 0 0 rg BT 226.41 130.25 Td (business ) Tj ET Q q 0 0 0 rg BT 262.79 130.25 Td (in ) Tj ET Q q 0 0 0 rg BT 273.06 130.25 Td (previously ) Tj ET Q q 0 0 0 rg BT 317.76 130.25 Td (untapped ) Tj ET Q q 0 0 0 rg BT 356.90 130.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 391.05 130.25 Td (to ) Tj ET Q q 0 0 0 rg BT 401.31 130.25 Td (the ) Tj ET Q q 0 0 0 rg BT 416.01 130.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 442.93 130.25 Td (incremental ) Tj ET Q q 0 0 0 rg BT 492.62 130.25 Td (markets ) Tj ET Q q 0 0 0 rg BT 526.76 130.25 Td (meet ) Tj ET Q q 0 0 0 rg BT 548.68 130.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 118.25 Td (criteria. ) Tj ET Q q 0 0 0 rg BT 118.97 118.25 Td (Utilizing ) Tj ET Q q 0 0 0 rg BT 156.67 118.25 Td (our ) Tj ET Q q 0 0 0 rg BT 172.16 118.25 Td (established ) Tj ET Q q 0 0 0 rg BT 218.75 118.25 Td (brands ) Tj ET Q q 0 0 0 rg BT 247.56 118.25 Td (and ) Tj ET Q q 0 0 0 rg BT 264.16 118.25 Td (market ) Tj ET Q q 0 0 0 rg BT 294.08 118.25 Td (relationships, ) Tj ET Q q 0 0 0 rg BT 349.84 118.25 Td (we ) Tj ET Q q 0 0 0 rg BT 363.65 118.25 Td (have ) Tj ET Q q 0 0 0 rg BT 384.69 118.25 Td (made ) Tj ET Q q 0 0 0 rg BT 408.50 118.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 452.87 118.25 Td (inroads ) Tj ET Q q 0 0 0 rg BT 484.46 118.25 Td (in ) Tj ET Q q 0 0 0 rg BT 494.39 118.25 Td (new ) Tj ET Q q 0 0 0 rg BT 513.21 118.25 Td (states ) Tj ET Q q 0 0 0 rg BT 537.58 118.25 Td (where ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 106.25 Td (we ) Tj ET Q q 0 0 0 rg BT 100.42 106.25 Td (had ) Tj ET Q q 0 0 0 rg BT 117.62 106.25 Td (no ) Tj ET Q q 0 0 0 rg BT 130.38 106.25 Td (active ) Tj ET Q q 0 0 0 rg BT 157.01 106.25 Td (business ) Tj ET Q q 0 0 0 rg BT 193.66 106.25 Td (in ) Tj ET Q q 0 0 0 rg BT 204.20 106.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 231.39 106.25 Td (years. ) Tj ET Q q 0 0 0 rg BT 257.55 106.25 Td (W) Tj ET Q q 0 0 0 rg BT 266.18 106.25 Td (e ) Tj ET Q q 0 0 0 rg BT 273.38 106.25 Td (will ) Tj ET Q q 0 0 0 rg BT 291.70 106.25 Td (continue ) Tj ET Q q 0 0 0 rg BT 328.89 106.25 Td (to ) Tj ET Q q 0 0 0 rg BT 339.43 106.25 Td (expand ) Tj ET Q q 0 0 0 rg BT 371.07 106.25 Td (into ) Tj ET Q q 0 0 0 rg BT 389.39 106.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 432.14 106.25 Td (states ) Tj ET Q q 0 0 0 rg BT 457.11 106.25 Td (or ) Tj ET Q q 0 0 0 rg BT 468.20 106.25 Td (product ) Tj ET Q q 0 0 0 rg BT 501.51 106.25 Td (lines ) Tj ET Q q 0 0 0 rg BT 523.16 106.25 Td (where ) Tj ET Q q 0 0 0 rg BT 550.35 106.25 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 94.25 Td (are ) Tj ET Q q 0 0 0 rg BT 100.71 94.25 Td (licensed, ) Tj ET Q q 0 0 0 rg BT 138.47 94.25 Td (but ) Tj ET Q q 0 0 0 rg BT 153.75 94.25 Td (not ) Tj ET Q q 0 0 0 rg BT 169.03 94.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 207.62 94.25 Td (active, ) Tj ET Q q 0 0 0 rg BT 236.49 94.25 Td (to ) Tj ET Q q 0 0 0 rg BT 246.77 94.25 Td (the ) Tj ET Q q 0 0 0 rg BT 261.49 94.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 288.42 94.25 Td (that ) Tj ET Q q 0 0 0 rg BT 305.92 94.25 Td (our ) Tj ET Q q 0 0 0 rg BT 321.75 94.25 Td (market ) Tj ET Q q 0 0 0 rg BT 352.01 94.25 Td (expansion ) Tj ET Q q 0 0 0 rg BT 395.06 94.25 Td (criteria ) Tj ET Q q 0 0 0 rg BT 425.87 94.25 Td (is ) Tj ET Q q 0 0 0 rg BT 435.04 94.25 Td (met ) Tj ET Q q 0 0 0 rg BT 452.53 94.25 Td (in ) Tj ET Q q 0 0 0 rg BT 462.81 94.25 Td (a ) Tj ET Q q 0 0 0 rg BT 469.75 94.25 Td (given ) Tj ET Q q 0 0 0 rg BT 494.47 94.25 Td (state.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 70.25 Td (Acquir) Tj ET Q q 0 0 0 rg BT 112.85 70.25 Td (e ) Tj ET Q q 0 0 0 rg BT 119.41 70.25 Td (complementary ) Tj ET Q q 0 0 0 rg BT 183.18 70.25 Td (books ) Tj ET Q q 0 0 0 rg BT 208.64 70.25 Td (of ) Tj ET Q q 0 0 0 rg BT 218.54 70.25 Td (business ) Tj ET Q q 0 0 0 rg BT 254.56 70.25 Td (and ) Tj ET Q q 0 0 0 rg BT 271.69 70.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 313.25 70.25 Td (companies. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.65 70.25 Td (W) Tj ET Q q 0 0 0 rg BT 369.29 70.25 Td (e ) Tj ET Q q 0 0 0 rg BT 375.85 70.25 Td (plan ) Tj ET Q q 0 0 0 rg BT 395.19 70.25 Td (to ) Tj ET Q q 0 0 0 rg BT 405.10 70.25 Td (opportunistically ) Tj ET Q q 0 0 0 rg BT 474.99 70.25 Td (pursue ) Tj ET Q q 0 0 0 rg BT 503.78 70.25 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 553.68 70.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 58.25 Td (complementary ) Tj ET Q q 0 0 0 rg BT 151.23 58.25 Td (books ) Tj ET Q q 0 0 0 rg BT 178.16 58.25 Td (of ) Tj ET Q q 0 0 0 rg BT 189.53 58.25 Td (business ) Tj ET Q q 0 0 0 rg BT 226.46 58.25 Td (and ) Tj ET Q q 0 0 0 rg BT 243.93 58.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 285.28 58.25 Td (companies ) Tj ET Q q 0 0 0 rg BT 331.08 58.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 369.66 58.25 Td (market ) Tj ET Q q 0 0 0 rg BT 400.46 58.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 445.17 58.25 Td (support ) Tj ET Q q 0 0 0 rg BT 478.20 58.25 Td (this ) Tj ET Q q 0 0 0 rg BT 495.69 58.25 Td (activity) Tj ET Q q 0 0 0 rg BT 525.03 58.25 Td (. ) Tj ET Q q 0 0 0 rg BT 530.34 58.25 Td (W) Tj ET Q q 0 0 0 rg BT 538.98 58.25 Td (e ) Tj ET Q q 0 0 0 rg BT 546.46 58.25 Td (will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 46.25 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 120.91 46.25 Td (each ) Tj ET Q q 0 0 0 rg BT 140.83 46.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 186.32 46.25 Td (opportunity ) Tj ET Q q 0 0 0 rg BT 234.58 46.25 Td (based ) Tj ET Q q 0 0 0 rg BT 258.96 46.25 Td (on ) Tj ET Q q 0 0 0 rg BT 270.56 46.25 Td (its ) Tj ET Q q 0 0 0 rg BT 281.61 46.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 318.75 46.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 359.22 46.25 Td (contribution ) Tj ET Q q 0 0 0 rg BT 409.71 46.25 Td (to ) Tj ET Q q 0 0 0 rg BT 419.09 46.25 Td (our ) Tj ET Q q 0 0 0 rg BT 434.02 46.25 Td (results ) Tj ET Q q 0 0 0 rg BT 461.73 46.25 Td (and ) Tj ET Q q 0 0 0 rg BT 477.77 46.25 Td (support ) Tj ET Q q 0 0 0 rg BT 509.38 46.25 Td (of ) Tj ET Q q 0 0 0 rg BT 519.31 46.25 Td (our ) Tj ET Q q 0 0 0 rg BT 534.24 46.25 Td (market ) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (expansion ) Tj ET Q q 0 0 0 rg BT 128.85 742.10 Td (initiatives. ) Tj ET Q q 0 0 0 rg BT 173.10 742.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 190.96 742.10 Td (more ) Tj ET Q q 0 0 0 rg BT 213.81 742.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 240.54 742.10 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 290.62 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 301.25 742.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 339.10 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 355.84 742.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 385.37 742.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 417.10 742.10 Td (are ) Tj ET Q q 0 0 0 rg BT 431.62 742.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 473.92 742.10 Td (with ) Tj ET Q q 0 0 0 rg BT 494.00 742.10 Td (this ) Tj ET Q q 0 0 0 rg BT 510.76 742.10 Td (aspect ) Tj ET Q q 0 0 0 rg BT 538.05 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 548.69 742.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (strategy) Tj ET Q q 0 0 0 rg BT 117.01 730.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Geographic Markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Currently) Tj ET Q q 0 0 0 rg BT 87.68 682.10 Td (, ) Tj ET Q q 0 0 0 rg BT 93.07 682.10 Td (we ) Tj ET Q q 0 0 0 rg BT 107.63 682.10 Td (distribute ) Tj ET Q q 0 0 0 rg BT 148.30 682.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 189.51 682.10 Td (only ) Tj ET Q q 0 0 0 rg BT 210.19 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 220.86 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 235.98 682.10 Td (United ) Tj ET Q q 0 0 0 rg BT 266.09 682.10 Td (States. ) Tj ET Q q 0 0 0 rg BT 295.17 682.10 Td (Through ) Tj ET Q q 0 0 0 rg BT 332.50 682.10 Td (our ) Tj ET Q q 0 0 0 rg BT 348.73 682.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 389.94 682.10 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 442.55 682.10 Td (we ) Tj ET Q q 0 0 0 rg BT 457.11 682.10 Td (are ) Tj ET Q q 0 0 0 rg BT 472.21 682.10 Td (licensed ) Tj ET Q q 0 0 0 rg BT 507.88 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 518.55 682.10 Td (write ) Tj ET Q q 0 0 0 rg BT 541.99 682.10 Td (P&C ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 90.44 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 100.35 670.10 Td (49 ) Tj ET Q q 0 0 0 rg BT 112.48 670.10 Td (states ) Tj ET Q q 0 0 0 rg BT 136.83 670.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 155.63 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 169.97 670.10 Td (District ) Tj ET Q q 0 0 0 rg BT 202.09 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 212.55 670.10 Td (Columbia ) Tj ET Q q 0 0 0 rg BT 254.13 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 264.03 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 278.38 670.10 Td (United ) Tj ET Q q 0 0 0 rg BT 307.72 670.10 Td (States. ) Tj ET Q q 0 0 0 rg BT 336.09 670.10 Td (The ) Tj ET Q q 0 0 0 rg BT 353.76 670.10 Td (following ) Tj ET Q q 0 0 0 rg BT 394.78 670.10 Td (table ) Tj ET Q q 0 0 0 rg BT 416.34 670.10 Td (reflects, ) Tj ET Q q 0 0 0 rg BT 450.39 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 460.30 670.10 Td (percentages, ) Tj ET Q q 0 0 0 rg BT 512.12 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.47 670.10 Td (principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (geographic ) Tj ET Q q 0 0 0 rg BT 97.49 658.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 146.67 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 158.07 658.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 182.25 658.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 225.31 658.10 Td (written ) Tj ET Q q 0 0 0 rg BT 256.71 658.10 Td (for ) Tj ET Q q 0 0 0 rg BT 271.44 658.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.72 658.10 Td (year ) Tj ET Q q 0 0 0 rg BT 307.00 658.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 333.94 658.10 Td (December ) Tj ET Q q 0 0 0 rg BT 378.09 658.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 393.66 658.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.66 658.10 Td (. ) Tj ET Q q 0 0 0 rg BT 419.23 658.10 Td (No ) Tj ET Q q 0 0 0 rg BT 434.52 658.10 Td (other ) Tj ET Q q 0 0 0 rg BT 458.13 658.10 Td (jurisdiction ) Tj ET Q q 0 0 0 rg BT 506.75 658.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 550.35 658.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (more ) Tj ET Q q 0 0 0 rg BT 73.05 646.10 Td (than ) Tj ET Q q 0 0 0 rg BT 92.76 646.10 Td (5%. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 622.60 425.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 622.60 87.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 594.60 425.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 594.60 87.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 566.60 425.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 566.60 87.00 -14.00 re f /GS0 gs BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 626.33 Td (Distribution of Gross Premium Written by Jurisdiction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 613.17 Td (New York) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.55 613.17 Td (23.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 599.17 Td (Illinois) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.55 599.17 Td (10.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 585.17 Td (Michigan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.05 585.17 Td (8.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 571.17 Td (California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.05 571.17 Td (7.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 557.17 Td (Minnesota) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.05 557.17 Td (5.5%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.82 535.10 Td (diagram ) Tj ET Q q 0 0 0 rg BT 102.86 535.10 Td (below ) Tj ET Q q 0 0 0 rg BT 129.58 535.10 Td (outlines ) Tj ET Q q 0 0 0 rg BT 163.52 535.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.02 535.10 Td (states ) Tj ET Q q 0 0 0 rg BT 202.51 535.10 Td (where ) Tj ET Q q 0 0 0 rg BT 229.21 535.10 Td (we ) Tj ET Q q 0 0 0 rg BT 243.15 535.10 Td (are ) Tj ET Q q 0 0 0 rg BT 257.64 535.10 Td (focused ) Tj ET Q q 0 0 0 rg BT 291.01 535.10 Td (on ) Tj ET Q q 0 0 0 rg BT 303.29 535.10 Td (actively ) Tj ET Q q 0 0 0 rg BT 337.21 535.10 Td (writing ) Tj ET Q q 0 0 0 rg BT 368.38 535.10 Td (new ) Tj ET Q q 0 0 0 rg BT 387.32 535.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 427.91 535.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 461.29 535.10 Td (and ) Tj ET Q q 0 0 0 rg BT 478.00 535.10 Td (where ) Tj ET Q q 0 0 0 rg BT 504.71 535.10 Td (we ) Tj ET Q q 0 0 0 rg BT 518.65 535.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 549.79 535.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.10 Td (comparative ) Tj ET Q q 0 0 0 rg BT 102.44 523.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 137.68 523.10 Td (of ) Tj ET Q q 0 0 0 rg BT 149.04 523.10 Td (our ) Tj ET Q q 0 0 0 rg BT 165.39 523.10 Td (value ) Tj ET Q q 0 0 0 rg BT 190.07 523.10 Td (proposition, ) Tj ET Q q 0 0 0 rg BT 241.15 523.10 Td (the ) Tj ET Q q 0 0 0 rg BT 256.39 523.10 Td (market ) Tj ET Q q 0 0 0 rg BT 287.18 523.10 Td (opportunity) Tj ET Q q 0 0 0 rg BT 333.20 523.10 Td (, ) Tj ET Q q 0 0 0 rg BT 338.72 523.10 Td (and ) Tj ET Q q 0 0 0 rg BT 356.18 523.10 Td (the ) Tj ET Q q 0 0 0 rg BT 371.42 523.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 393.88 523.10 Td (and ) Tj ET Q q 0 0 0 rg BT 411.34 523.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 455.46 523.10 Td (environment ) Tj ET Q q 0 0 0 rg BT 509.03 523.10 Td (are ) Tj ET Q q 0 0 0 rg BT 524.26 523.10 Td (favorable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.10 Td (\(states ) Tj ET Q q 0 0 0 rg BT 78.21 511.10 Td (darkened ) Tj ET Q q 0 0 0 rg BT 117.52 511.10 Td (in ) Tj ET Q q 0 0 0 rg BT 127.96 511.10 Td (the ) Tj ET Q q 0 0 0 rg BT 142.84 511.10 Td (below ) Tj ET Q q 0 0 0 rg BT 169.94 511.10 Td (diagram\).) Tj ET Q q 0 0 0 rg BT 210.86 511.10 Td (The ) Tj ET Q q 0 0 0 rg BT 229.07 511.10 Td (diagram ) Tj ET Q q 0 0 0 rg BT 264.49 511.10 Td (below ) Tj ET Q q 0 0 0 rg BT 291.60 511.10 Td (also ) Tj ET Q q 0 0 0 rg BT 310.37 511.10 Td (reflects ) Tj ET Q q 0 0 0 rg BT 342.46 511.10 Td (the ) Tj ET Q q 0 0 0 rg BT 357.34 511.10 Td (states ) Tj ET Q q 0 0 0 rg BT 382.22 511.10 Td (where ) Tj ET Q q 0 0 0 rg BT 409.31 511.10 Td (we ) Tj ET Q q 0 0 0 rg BT 423.63 511.10 Td (are ) Tj ET Q q 0 0 0 rg BT 438.50 511.10 Td (actively ) Tj ET Q q 0 0 0 rg BT 472.82 511.10 Td (writing ) Tj ET Q q 0 0 0 rg BT 504.37 511.10 Td (new ) Tj ET Q q 0 0 0 rg BT 523.69 511.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.10 Td (policies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 88.54 475.10 Td (historically ) Tj ET Q q 0 0 0 rg BT 136.53 475.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 164.53 475.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 214.73 475.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 262.72 475.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 304.03 475.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 338.14 475.10 Td (in ) Tj ET Q q 0 0 0 rg BT 348.92 475.10 Td (the ) Tj ET Q q 0 0 0 rg BT 364.13 475.10 Td (state ) Tj ET Q q 0 0 0 rg BT 385.46 475.10 Td (of ) Tj ET Q q 0 0 0 rg BT 396.79 475.10 Td (Florida. ) Tj ET Q q 0 0 0 rg BT 430.96 475.10 Td (W) Tj ET Q q 0 0 0 rg BT 439.60 475.10 Td (e ) Tj ET Q q 0 0 0 rg BT 447.04 475.10 Td (do ) Tj ET Q q 0 0 0 rg BT 460.04 475.10 Td (not ) Tj ET Q q 0 0 0 rg BT 475.82 475.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 496.03 475.10 Td (to ) Tj ET Q q 0 0 0 rg BT 506.81 475.10 Td (actively ) Tj ET Q q 0 0 0 rg BT 541.46 475.10 Td (write ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 90.57 463.10 Td (for ) Tj ET Q q 0 0 0 rg BT 104.48 463.10 Td (new ) Tj ET Q q 0 0 0 rg BT 123.39 463.10 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 180.08 463.10 Td (in ) Tj ET Q q 0 0 0 rg BT 190.11 463.10 Td (Florida ) Tj ET Q q 0 0 0 rg BT 221.25 463.10 Td (through ) Tj ET Q q 0 0 0 rg BT 254.61 463.10 Td (our ) Tj ET Q q 0 0 0 rg BT 270.19 463.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 310.76 463.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 360.23 463.10 Td (and ) Tj ET Q q 0 0 0 rg BT 376.92 463.10 Td (followed ) Tj ET Q q 0 0 0 rg BT 414.72 463.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.19 463.10 Td (required ) Tj ET Q q 0 0 0 rg BT 464.76 463.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 508.10 463.10 Td (procedures ) Tj ET Q q 0 0 0 rg BT 554.22 463.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (withdraw ) Tj ET Q q 0 0 0 rg BT 90.27 451.10 Td (from ) Tj ET Q q 0 0 0 rg BT 112.21 451.10 Td (that ) Tj ET Q q 0 0 0 rg BT 129.70 451.10 Td (state ) Tj ET Q q 0 0 0 rg BT 150.53 451.10 Td (in ) Tj ET Q q 0 0 0 rg BT 160.81 451.10 Td (2013.) Tj ET Q /GS0 gs q 512.00 0 0 320.45 50.00 113.62 cm /I37 Do Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 77.60 Td (Agency Relationships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.60 Td (Independent ) Tj ET Q q 0 0 0 rg BT 101.34 59.60 Td (retail ) Tj ET Q q 0 0 0 rg BT 123.80 59.60 Td (agents ) Tj ET Q q 0 0 0 rg BT 151.26 59.60 Td (are ) Tj ET Q q 0 0 0 rg BT 165.39 59.60 Td (recruited ) Tj ET Q q 0 0 0 rg BT 202.83 59.60 Td (by ) Tj ET Q q 0 0 0 rg BT 214.75 59.60 Td (us ) Tj ET Q q 0 0 0 rg BT 225.56 59.60 Td (directly ) Tj ET Q q 0 0 0 rg BT 258.02 59.60 Td (utilizing ) Tj ET Q q 0 0 0 rg BT 293.26 59.60 Td (marketing ) Tj ET Q q 0 0 0 rg BT 335.72 59.60 Td (ef) Tj ET Q q 0 0 0 rg BT 343.31 59.60 Td (forts ) Tj ET Q q 0 0 0 rg BT 363.56 59.60 Td (tar) Tj ET Q q 0 0 0 rg BT 373.92 59.60 Td (geting ) Tj ET Q q 0 0 0 rg BT 400.83 59.60 Td (the ) Tj ET Q q 0 0 0 rg BT 414.97 59.60 Td (specialty ) Tj ET Q q 0 0 0 rg BT 452.43 59.60 Td (niche ) Tj ET Q q 0 0 0 rg BT 476.00 59.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 497.92 59.60 Td (which ) Tj ET Q q 0 0 0 rg BT 524.27 59.60 Td (we ) Tj ET Q q 0 0 0 rg BT 537.85 59.60 Td (focus. ) Tj ET Q q 0 0 0 rg BT 564.51 59.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 47.60 Td (Interested ) Tj ET Q q 0 0 0 rg BT 92.93 47.60 Td (agents ) Tj ET Q q 0 0 0 rg BT 121.99 47.60 Td (are ) Tj ET Q q 0 0 0 rg BT 137.70 47.60 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 179.52 47.60 Td (based ) Tj ET Q q 0 0 0 rg BT 205.80 47.60 Td (on ) Tj ET Q q 0 0 0 rg BT 219.31 47.60 Td (their ) Tj ET Q q 0 0 0 rg BT 241.14 47.60 Td (experience, ) Tj ET Q q 0 0 0 rg BT 290.45 47.60 Td (expertise ) Tj ET Q q 0 0 0 rg BT 330.05 47.60 Td (and ) Tj ET Q q 0 0 0 rg BT 348.00 47.60 Td (ethical ) Tj ET Q q 0 0 0 rg BT 378.16 47.60 Td (dealing. ) Tj ET Q q 0 0 0 rg BT 413.60 47.60 Td ( ) Tj ET Q q 0 0 0 rg BT 416.85 47.60 Td (T) Tj ET Q q 0 0 0 rg BT 422.26 47.60 Td (ypically) Tj ET Q q 0 0 0 rg BT 453.83 47.60 Td (, ) Tj ET Q q 0 0 0 rg BT 459.83 47.60 Td (our ) Tj ET Q q 0 0 0 rg BT 476.67 47.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 519.07 47.60 Td (enters ) Tj ET Q q 0 0 0 rg BT 546.45 47.60 Td (into ) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 98.05 742.10 Td (relationships ) Tj ET Q q 0 0 0 rg BT 151.08 742.10 Td (with ) Tj ET Q q 0 0 0 rg BT 170.79 742.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 230.48 742.10 Td (one ) Tj ET Q q 0 0 0 rg BT 246.86 742.10 Td (out ) Tj ET Q q 0 0 0 rg BT 261.57 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 271.83 742.10 Td (every ) Tj ET Q q 0 0 0 rg BT 295.97 742.10 Td (ten ) Tj ET Q q 0 0 0 rg BT 310.12 742.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 337.60 742.10 Td (seeking ) Tj ET Q q 0 0 0 rg BT 370.08 742.10 Td (an ) Tj ET Q q 0 0 0 rg BT 381.45 742.10 Td (agency ) Tj ET Q q 0 0 0 rg BT 411.70 742.10 Td (contract. ) Tj ET Q q 0 0 0 rg BT 448.33 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 450.12 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 458.76 742.10 Td (e ) Tj ET Q q 0 0 0 rg BT 465.13 742.10 Td (do ) Tj ET Q q 0 0 0 rg BT 477.07 742.10 Td (not ) Tj ET Q q 0 0 0 rg BT 491.78 742.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 524.26 742.10 Td (exclusive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (territories ) Tj ET Q q 0 0 0 rg BT 91.86 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 102.62 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 118.93 730.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 170.79 730.10 Td (retail ) Tj ET Q q 0 0 0 rg BT 194.31 730.10 Td (agents, ) Tj ET Q q 0 0 0 rg BT 225.34 730.10 Td (nor ) Tj ET Q q 0 0 0 rg BT 241.66 730.10 Td (do ) Tj ET Q q 0 0 0 rg BT 254.64 730.10 Td (we ) Tj ET Q q 0 0 0 rg BT 269.28 730.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 298.36 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 309.12 730.10 Td (be ) Tj ET Q q 0 0 0 rg BT 321.54 730.10 Td (their ) Tj ET Q q 0 0 0 rg BT 342.85 730.10 Td (only ) Tj ET Q q 0 0 0 rg BT 363.61 730.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 404.91 730.10 Td (market. ) Tj ET Q q 0 0 0 rg BT 438.16 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 440.93 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 449.56 730.10 Td (e ) Tj ET Q q 0 0 0 rg BT 456.99 730.10 Td (are ) Tj ET Q q 0 0 0 rg BT 472.18 730.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 512.36 730.10 Td (interested ) Tj ET Q q 0 0 0 rg BT 554.22 730.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (acting ) Tj ET Q q 0 0 0 rg BT 76.96 718.10 Td (as ) Tj ET Q q 0 0 0 rg BT 87.82 718.10 Td (one ) Tj ET Q q 0 0 0 rg BT 104.78 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 115.64 718.10 Td (a ) Tj ET Q q 0 0 0 rg BT 122.60 718.10 Td (relatively ) Tj ET Q q 0 0 0 rg BT 162.88 718.10 Td (small ) Tj ET Q q 0 0 0 rg BT 187.08 718.10 Td (number ) Tj ET Q q 0 0 0 rg BT 220.15 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 231.00 718.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 271.85 718.10 Td (partners ) Tj ET Q q 0 0 0 rg BT 306.58 718.10 Td (with ) Tj ET Q q 0 0 0 rg BT 326.88 718.10 Td (whom ) Tj ET Q q 0 0 0 rg BT 354.41 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 370.26 718.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 421.66 718.10 Td (retail ) Tj ET Q q 0 0 0 rg BT 444.73 718.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 472.80 718.10 Td (place ) Tj ET Q q 0 0 0 rg BT 496.42 718.10 Td (business ) Tj ET Q q 0 0 0 rg BT 532.84 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 549.80 718.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (also ) Tj ET Q q 0 0 0 rg BT 68.58 706.10 Td (careful ) Tj ET Q q 0 0 0 rg BT 98.80 706.10 Td (not ) Tj ET Q q 0 0 0 rg BT 114.05 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 124.29 706.10 Td (oversaturate ) Tj ET Q q 0 0 0 rg BT 175.62 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.31 706.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 238.89 706.10 Td (channel ) Tj ET Q q 0 0 0 rg BT 272.45 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 282.70 706.10 Td (any ) Tj ET Q q 0 0 0 rg BT 299.60 706.10 Td (given ) Tj ET Q q 0 0 0 rg BT 324.29 706.10 Td (geographic ) Tj ET Q q 0 0 0 rg BT 371.18 706.10 Td (market. ) Tj ET Q q 0 0 0 rg BT 403.91 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 406.20 706.10 Td (This ) Tj ET Q q 0 0 0 rg BT 426.45 706.10 Td (helps ) Tj ET Q q 0 0 0 rg BT 450.03 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 460.27 706.10 Td (ensure ) Tj ET Q q 0 0 0 rg BT 488.84 706.10 Td (that ) Tj ET Q q 0 0 0 rg BT 506.30 706.10 Td (we ) Tj ET Q q 0 0 0 rg BT 520.43 706.10 Td (are ) Tj ET Q q 0 0 0 rg BT 535.11 706.10 Td (able ) Tj ET Q q 0 0 0 rg BT 554.23 706.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 81.08 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 95.51 694.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 138.28 694.10 Td (number ) Tj ET Q q 0 0 0 rg BT 171.04 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 181.59 694.10 Td (submissions ) Tj ET Q q 0 0 0 rg BT 232.70 694.10 Td (for ) Tj ET Q q 0 0 0 rg BT 246.58 694.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 300.45 694.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 344.32 694.10 Td (without ) Tj ET Q q 0 0 0 rg BT 377.09 694.10 Td (unnecessary ) Tj ET Q q 0 0 0 rg BT 428.17 694.10 Td (downstream ) Tj ET Q q 0 0 0 rg BT 479.27 694.10 Td (pressure ) Tj ET Q q 0 0 0 rg BT 514.80 694.10 Td (from ) Tj ET Q q 0 0 0 rg BT 536.46 694.10 Td (agents ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.54 682.10 Td (write ) Tj ET Q q 0 0 0 rg BT 83.85 682.10 Td (business ) Tj ET Q q 0 0 0 rg BT 120.50 682.10 Td (that ) Tj ET Q q 0 0 0 rg BT 138.26 682.10 Td (does ) Tj ET Q q 0 0 0 rg BT 159.35 682.10 Td (not ) Tj ET Q q 0 0 0 rg BT 174.89 682.10 Td (fit ) Tj ET Q q 0 0 0 rg BT 186.54 682.10 Td (our ) Tj ET Q q 0 0 0 rg BT 202.63 682.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 257.04 682.10 Td (model. ) Tj ET Q q 0 0 0 rg BT 287.30 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 289.45 682.10 Td (Agents ) Tj ET Q q 0 0 0 rg BT 320.54 682.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 352.17 682.10 Td (commission ) Tj ET Q q 0 0 0 rg BT 403.26 682.10 Td (as ) Tj ET Q q 0 0 0 rg BT 414.35 682.10 Td (a ) Tj ET Q q 0 0 0 rg BT 421.55 682.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 467.62 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 478.71 682.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 521.46 682.10 Td (\(generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (10%\) ) Tj ET Q q 0 0 0 rg BT 74.99 670.10 Td (as ) Tj ET Q q 0 0 0 rg BT 86.64 670.10 Td (their ) Tj ET Q q 0 0 0 rg BT 108.29 670.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 143.27 670.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 202.14 670.10 Td (from ) Tj ET Q q 0 0 0 rg BT 224.90 670.10 Td (us. ) Tj ET Q q 0 0 0 rg BT 239.62 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 242.94 670.10 Td (Lar) Tj ET Q q 0 0 0 rg BT 256.64 670.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 272.73 670.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 301.61 670.10 Td (may ) Tj ET Q q 0 0 0 rg BT 322.15 670.10 Td (also ) Tj ET Q q 0 0 0 rg BT 341.58 670.10 Td (be ) Tj ET Q q 0 0 0 rg BT 354.35 670.10 Td (eligible ) Tj ET Q q 0 0 0 rg BT 387.66 670.10 Td (for ) Tj ET Q q 0 0 0 rg BT 402.65 670.10 Td (profit ) Tj ET Q q 0 0 0 rg BT 428.19 670.10 Td (sharing ) Tj ET Q q 0 0 0 rg BT 460.95 670.10 Td (based ) Tj ET Q q 0 0 0 rg BT 487.05 670.10 Td (on ) Tj ET Q q 0 0 0 rg BT 500.37 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 515.91 670.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 547.57 670.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 105.51 658.10 Td (profitability ) Tj ET Q q 0 0 0 rg BT 157.13 658.10 Td (related ) Tj ET Q q 0 0 0 rg BT 188.19 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 199.82 658.10 Td (their ) Tj ET Q q 0 0 0 rg BT 222.00 658.10 Td (book ) Tj ET Q q 0 0 0 rg BT 245.85 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 258.03 658.10 Td (business ) Tj ET Q q 0 0 0 rg BT 295.78 658.10 Td (with ) Tj ET Q q 0 0 0 rg BT 317.41 658.10 Td (us. ) Tj ET Q q 0 0 0 rg BT 332.66 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 336.23 658.10 Td (The ) Tj ET Q q 0 0 0 rg BT 355.63 658.10 Td (quality ) Tj ET Q q 0 0 0 rg BT 387.26 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 399.44 658.10 Td (business ) Tj ET Q q 0 0 0 rg BT 437.19 658.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 479.36 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 497.65 658.10 Td (written ) Tj ET Q q 0 0 0 rg BT 529.83 658.10 Td (by ) Tj ET Q q 0 0 0 rg BT 543.68 658.10 Td (each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 101.73 646.10 Td (retail ) Tj ET Q q 0 0 0 rg BT 125.12 646.10 Td (agent ) Tj ET Q q 0 0 0 rg BT 149.63 646.10 Td (is ) Tj ET Q q 0 0 0 rg BT 159.15 646.10 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 200.31 646.10 Td (regularly ) Tj ET Q q 0 0 0 rg BT 239.26 646.10 Td (by ) Tj ET Q q 0 0 0 rg BT 252.11 646.10 Td (our ) Tj ET Q q 0 0 0 rg BT 268.30 646.10 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 321.69 646.10 Td (and ) Tj ET Q q 0 0 0 rg BT 338.98 646.10 Td (is ) Tj ET Q q 0 0 0 rg BT 348.50 646.10 Td (also ) Tj ET Q q 0 0 0 rg BT 367.46 646.10 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 406.96 646.10 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 445.91 646.10 Td (by ) Tj ET Q q 0 0 0 rg BT 458.76 646.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 486.05 646.10 Td (management. ) Tj ET Q q 0 0 0 rg BT 542.50 646.10 Td ( ) Tj ET Q q 0 0 0 rg BT 545.35 646.10 Td (Key ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (metrics ) Tj ET Q q 0 0 0 rg BT 83.70 634.10 Td (for ) Tj ET Q q 0 0 0 rg BT 99.63 634.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 145.54 634.10 Td (include ) Tj ET Q q 0 0 0 rg BT 179.24 634.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 211.27 634.10 Td (accuracy ) Tj ET Q q 0 0 0 rg BT 251.06 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 269.76 634.10 Td (adequacy ) Tj ET Q q 0 0 0 rg BT 311.78 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 324.38 634.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 380.30 634.10 Td (information, ) Tj ET Q q 0 0 0 rg BT 434.28 634.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 489.06 634.10 Td (relative ) Tj ET Q q 0 0 0 rg BT 523.31 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 535.35 634.10 Td (agreed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (commitments, ) Tj ET Q q 0 0 0 rg BT 109.62 622.10 Td (support ) Tj ET Q q 0 0 0 rg BT 142.30 622.10 Td (with ) Tj ET Q q 0 0 0 rg BT 162.76 622.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 193.75 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 204.21 622.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 232.99 622.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 273.99 622.10 Td (by ) Tj ET Q q 0 0 0 rg BT 286.67 622.10 Td (their ) Tj ET Q q 0 0 0 rg BT 307.67 622.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 350.90 622.10 Td (\(as ) Tj ET Q q 0 0 0 rg BT 365.24 622.10 Td (applicable\) ) Tj ET Q q 0 0 0 rg BT 412.34 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 429.46 622.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 459.90 622.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 514.23 622.10 Td (profitability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.11 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.11 610.10 Td (agent) Tj ET Q q 0 0 0 rg BT 98.54 610.10 Td (s ) Tj ET Q q 0 0 0 rg BT 104.21 610.10 Td (book ) Tj ET Q q 0 0 0 rg BT 125.99 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 136.10 610.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 174.27 610.10 Td ( ) Tj ET Q q 0 0 0 rg BT 175.92 610.10 Td (While ) Tj ET Q q 0 0 0 rg BT 202.14 610.10 Td (we ) Tj ET Q q 0 0 0 rg BT 215.58 610.10 Td (rely ) Tj ET Q q 0 0 0 rg BT 232.90 610.10 Td (on ) Tj ET Q q 0 0 0 rg BT 244.68 610.10 Td (our ) Tj ET Q q 0 0 0 rg BT 259.79 610.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 310.45 610.10 Td (retail ) Tj ET Q q 0 0 0 rg BT 332.77 610.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 360.09 610.10 Td (for ) Tj ET Q q 0 0 0 rg BT 373.53 610.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 421.43 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 437.65 610.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 476.08 610.10 Td (support, ) Tj ET Q q 0 0 0 rg BT 510.36 610.10 Td (underwriting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.96 598.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 93.69 598.10 Td (handling ) Tj ET Q q 0 0 0 rg BT 132.20 598.10 Td (responsibilities ) Tj ET Q q 0 0 0 rg BT 196.28 598.10 Td (are ) Tj ET Q q 0 0 0 rg BT 212.00 598.10 Td (retained ) Tj ET Q q 0 0 0 rg BT 247.72 598.10 Td (by ) Tj ET Q q 0 0 0 rg BT 261.24 598.10 Td (us. ) Tj ET Q q 0 0 0 rg BT 276.15 598.10 Td ( ) Tj ET Q q 0 0 0 rg BT 279.67 598.10 Td (Many ) Tj ET Q q 0 0 0 rg BT 306.52 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 318.37 598.10 Td (our ) Tj ET Q q 0 0 0 rg BT 335.22 598.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 364.29 598.10 Td (have ) Tj ET Q q 0 0 0 rg BT 386.69 598.10 Td (had ) Tj ET Q q 0 0 0 rg BT 404.64 598.10 Td (direct ) Tj ET Q q 0 0 0 rg BT 430.93 598.10 Td (relationships ) Tj ET Q q 0 0 0 rg BT 485.55 598.10 Td (with ) Tj ET Q q 0 0 0 rg BT 506.85 598.10 Td (our ) Tj ET Q q 0 0 0 rg BT 523.70 598.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 99.72 586.10 Td (for ) Tj ET Q q 0 0 0 rg BT 113.88 586.10 Td (a ) Tj ET Q q 0 0 0 rg BT 120.82 586.10 Td (number ) Tj ET Q q 0 0 0 rg BT 153.86 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.69 586.10 Td (years. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Seasonality) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.46 538.10 Td (P&C ) Tj ET Q q 0 0 0 rg BT 89.39 538.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 129.62 538.10 Td (business ) Tj ET Q q 0 0 0 rg BT 165.42 538.10 Td (is ) Tj ET Q q 0 0 0 rg BT 174.00 538.10 Td (seasonal ) Tj ET Q q 0 0 0 rg BT 209.79 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 219.49 538.10 Td (nature. ) Tj ET Q q 0 0 0 rg BT 248.88 538.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 266.35 538.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 293.81 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 303.50 538.10 Td (generate ) Tj ET Q q 0 0 0 rg BT 339.28 538.10 Td (written ) Tj ET Q q 0 0 0 rg BT 369.52 538.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 407.54 538.10 Td (is ) Tj ET Q q 0 0 0 rg BT 416.12 538.10 Td (also ) Tj ET Q q 0 0 0 rg BT 434.14 538.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 472.70 538.10 Td (by ) Tj ET Q q 0 0 0 rg BT 484.62 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 498.75 538.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 526.77 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 537.02 538.10 Td (policy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 526.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 86.94 526.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 118.52 526.10 Td (in ) Tj ET Q q 0 0 0 rg BT 128.44 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 142.81 526.10 Td (states ) Tj ET Q q 0 0 0 rg BT 167.17 526.10 Td (in ) Tj ET Q q 0 0 0 rg BT 177.09 526.10 Td (which ) Tj ET Q q 0 0 0 rg BT 203.68 526.10 Td (we ) Tj ET Q q 0 0 0 rg BT 217.49 526.10 Td (operate ) Tj ET Q q 0 0 0 rg BT 249.06 526.10 Td (while ) Tj ET Q q 0 0 0 rg BT 273.42 526.10 Td (our ) Tj ET Q q 0 0 0 rg BT 288.89 526.10 Td (net ) Tj ET Q q 0 0 0 rg BT 303.26 526.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 345.40 526.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 374.19 526.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 413.54 526.10 Td (follow ) Tj ET Q q 0 0 0 rg BT 441.79 526.10 Td (a ) Tj ET Q q 0 0 0 rg BT 448.38 526.10 Td (relatively ) Tj ET Q q 0 0 0 rg BT 488.28 526.10 Td (smooth ) Tj ET Q q 0 0 0 rg BT 519.88 526.10 Td (trend ) Tj ET Q q 0 0 0 rg BT 542.57 526.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 80.16 514.10 Td (to ) Tj ET Q q 0 0 0 rg BT 89.78 514.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 117.54 514.10 Td (. ) Tj ET Q q 0 0 0 rg BT 121.88 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.31 514.10 Td (Also, ) Tj ET Q q 0 0 0 rg BT 146.55 514.10 Td (our ) Tj ET Q q 0 0 0 rg BT 161.72 514.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 184.67 514.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 226.51 514.10 Td (written ) Tj ET Q q 0 0 0 rg BT 256.67 514.10 Td (are ) Tj ET Q q 0 0 0 rg BT 270.72 514.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 309.21 514.10 Td (by ) Tj ET Q q 0 0 0 rg BT 321.05 514.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 350.10 514.10 Td (common ) Tj ET Q q 0 0 0 rg BT 386.93 514.10 Td (renewal ) Tj ET Q q 0 0 0 rg BT 420.42 514.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 442.81 514.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.43 514.10 Td (lar) Tj ET Q q 0 0 0 rg BT 462.79 514.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 477.40 514.10 Td (metropolitan ) Tj ET Q q 0 0 0 rg BT 530.34 514.10 Td (markets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.29 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 79.13 502.10 Td (light ) Tj ET Q q 0 0 0 rg BT 100.09 502.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 149.91 502.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 171.43 502.10 Td (that ) Tj ET Q q 0 0 0 rg BT 189.05 502.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 228.32 502.10 Td (our ) Tj ET Q q 0 0 0 rg BT 244.28 502.10 Td (core ) Tj ET Q q 0 0 0 rg BT 264.11 502.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 285.63 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 296.58 502.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 335.60 502.10 Td (For ) Tj ET Q q 0 0 0 rg BT 352.12 502.10 Td (example, ) Tj ET Q q 0 0 0 rg BT 391.11 502.10 Td (January ) Tj ET Q q 0 0 0 rg BT 424.84 502.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 429.84 506.63 Td (st) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.17 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 436.80 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.86 502.10 Td (March ) Tj ET Q q 0 0 0 rg BT 482.59 502.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 487.59 506.63 Td (st) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.92 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 494.55 502.10 Td (are ) Tj ET Q q 0 0 0 rg BT 509.38 502.10 Td (common ) Tj ET Q q 0 0 0 rg BT 547.00 502.10 Td (taxi ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (cab ) Tj ET Q q 0 0 0 rg BT 66.29 490.10 Td (renewal ) Tj ET Q q 0 0 0 rg BT 100.35 490.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 123.31 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 133.51 490.10 Td (Illinois ) Tj ET Q q 0 0 0 rg BT 164.26 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 181.11 490.10 Td (New ) Tj ET Q q 0 0 0 rg BT 202.05 490.10 Td (Y) Tj ET Q q 0 0 0 rg BT 208.27 490.10 Td (ork, ) Tj ET Q q 0 0 0 rg BT 226.51 490.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 274.17 490.10 Td (. ) Tj ET Q q 0 0 0 rg BT 279.09 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 280.97 490.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 330.87 490.10 Td (, ) Tj ET Q q 0 0 0 rg BT 335.79 490.10 Td (we ) Tj ET Q q 0 0 0 rg BT 349.86 490.10 Td (implemented ) Tj ET Q q 0 0 0 rg BT 404.48 490.10 Td (our ) Tj ET Q q 0 0 0 rg BT 420.23 490.10 Td (New ) Tj ET Q q 0 0 0 rg BT 441.17 490.10 Td (Y) Tj ET Q q 0 0 0 rg BT 447.39 490.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 463.13 490.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 496.08 490.10 Td (taxi ) Tj ET Q q 0 0 0 rg BT 513.49 490.10 Td (program ) Tj ET Q q 0 0 0 rg BT 554.22 490.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.61 478.10 Td (third ) Tj ET Q q 0 0 0 rg BT 85.90 478.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 116.61 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 127.33 478.10 Td (2012, ) Tj ET Q q 0 0 0 rg BT 152.23 478.10 Td (which ) Tj ET Q q 0 0 0 rg BT 179.07 478.10 Td (has ) Tj ET Q q 0 0 0 rg BT 194.79 478.10 Td (an ) Tj ET Q q 0 0 0 rg BT 206.63 478.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 235.68 478.10 Td (renewal ) Tj ET Q q 0 0 0 rg BT 269.72 478.10 Td (date ) Tj ET Q q 0 0 0 rg BT 288.77 478.10 Td (in ) Tj ET Q q 0 0 0 rg BT 298.95 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 313.56 478.10 Td (third ) Tj ET Q q 0 0 0 rg BT 334.84 478.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 362.61 478.10 Td (. ) Tj ET Q q 0 0 0 rg BT 367.50 478.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 384.34 478.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 438.39 478.10 Td (income ) Tj ET Q q 0 0 0 rg BT 470.22 478.10 Td (is ) Tj ET Q q 0 0 0 rg BT 479.29 478.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 507.23 478.10 Td (mainly ) Tj ET Q q 0 0 0 rg BT 537.40 478.10 Td (by ) Tj ET Q q 0 0 0 rg BT 549.80 478.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 78.61 466.10 Td (and ) Tj ET Q q 0 0 0 rg BT 95.55 466.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 123.04 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 133.87 466.10 Td (claims, ) Tj ET Q q 0 0 0 rg BT 164.97 466.10 Td (which ) Tj ET Q q 0 0 0 rg BT 191.91 466.10 Td (can ) Tj ET Q q 0 0 0 rg BT 208.29 466.10 Td (vary ) Tj ET Q q 0 0 0 rg BT 228.55 466.10 Td (widely) Tj ET Q q 0 0 0 rg BT 255.12 466.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Competition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.43 418.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 109.62 418.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 145.28 418.10 Td (is ) Tj ET Q q 0 0 0 rg BT 154.83 418.10 Td (price ) Tj ET Q q 0 0 0 rg BT 177.70 418.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 227.79 418.10 Td (in ) Tj ET Q q 0 0 0 rg BT 238.45 418.10 Td (all ) Tj ET Q q 0 0 0 rg BT 251.32 418.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 285.86 418.10 Td (in ) Tj ET Q q 0 0 0 rg BT 296.52 418.10 Td (which ) Tj ET Q q 0 0 0 rg BT 323.84 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 338.94 418.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 380.13 418.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 430.23 418.10 Td (operate. ) Tj ET Q q 0 0 0 rg BT 465.03 418.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 483.47 418.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 525.23 418.10 Td (strives ) Tj ET Q q 0 0 0 rg BT 554.22 418.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (employ ) Tj ET Q q 0 0 0 rg BT 82.50 406.10 Td (disciplined ) Tj ET Q q 0 0 0 rg BT 128.88 406.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 183.03 406.10 Td (practices ) Tj ET Q q 0 0 0 rg BT 221.06 406.10 Td (with ) Tj ET Q q 0 0 0 rg BT 241.34 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 256.06 406.10 Td (objective ) Tj ET Q q 0 0 0 rg BT 295.21 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.04 406.10 Td (rejecting ) Tj ET Q q 0 0 0 rg BT 343.52 406.10 Td (under ) Tj ET Q q 0 0 0 rg BT 368.79 406.10 Td (priced ) Tj ET Q q 0 0 0 rg BT 396.27 406.10 Td (risks. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.87 382.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 109.07 382.10 Td (competes ) Tj ET Q q 0 0 0 rg BT 149.15 382.10 Td (on ) Tj ET Q q 0 0 0 rg BT 161.46 382.10 Td (a ) Tj ET Q q 0 0 0 rg BT 168.21 382.10 Td (number ) Tj ET Q q 0 0 0 rg BT 201.07 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 211.72 382.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 241.24 382.10 Td (such ) Tj ET Q q 0 0 0 rg BT 261.88 382.10 Td (as ) Tj ET Q q 0 0 0 rg BT 272.53 382.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 320.96 382.10 Td (strength, ) Tj ET Q q 0 0 0 rg BT 357.99 382.10 Td (pricing, ) Tj ET Q q 0 0 0 rg BT 391.13 382.10 Td (agency ) Tj ET Q q 0 0 0 rg BT 421.76 382.10 Td (relationships, ) Tj ET Q q 0 0 0 rg BT 477.68 382.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 504.99 382.10 Td (support, ) Tj ET Q q 0 0 0 rg BT 539.80 382.10 Td (claim ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (service, ) Tj ET Q q 0 0 0 rg BT 84.47 370.10 Td (and ) Tj ET Q q 0 0 0 rg BT 102.56 370.10 Td (market ) Tj ET Q q 0 0 0 rg BT 133.97 370.10 Td (reputation. ) Tj ET Q q 0 0 0 rg BT 180.67 370.10 Td (In ) Tj ET Q q 0 0 0 rg BT 192.65 370.10 Td (our ) Tj ET Q q 0 0 0 rg BT 209.63 370.10 Td (core ) Tj ET Q q 0 0 0 rg BT 230.49 370.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 281.33 370.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 329.98 370.10 Td (lines, ) Tj ET Q q 0 0 0 rg BT 355.01 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 370.88 370.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 406.19 370.10 Td (of) Tj ET Q q 0 0 0 rg BT 414.34 370.10 Td (ferings ) Tj ET Q q 0 0 0 rg BT 445.76 370.10 Td (are ) Tj ET Q q 0 0 0 rg BT 461.62 370.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 496.37 370.10 Td (at ) Tj ET Q q 0 0 0 rg BT 507.24 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.11 370.10 Td (minimum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 93.45 358.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 118.04 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 127.63 358.10 Td (each ) Tj ET Q q 0 0 0 rg BT 147.75 358.10 Td (state, ) Tj ET Q q 0 0 0 rg BT 170.39 358.10 Td (as ) Tj ET Q q 0 0 0 rg BT 180.53 358.10 Td (established ) Tj ET Q q 0 0 0 rg BT 226.77 358.10 Td (by ) Tj ET Q q 0 0 0 rg BT 238.58 358.10 Td (statutory) Tj ET Q q 0 0 0 rg BT 272.92 358.10 Td (, ) Tj ET Q q 0 0 0 rg BT 277.23 358.10 Td (municipal ) Tj ET Q q 0 0 0 rg BT 319.03 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 335.27 358.10 Td (other ) Tj ET Q q 0 0 0 rg BT 357.63 358.10 Td (regulations. ) Tj ET Q q 0 0 0 rg BT 406.37 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 408.05 358.10 Td (W) Tj ET Q q 0 0 0 rg BT 416.69 358.10 Td (e ) Tj ET Q q 0 0 0 rg BT 422.93 358.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 453.61 358.10 Td (our ) Tj ET Q q 0 0 0 rg BT 468.75 358.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 509.45 358.10 Td (dif) Tj ET Q q 0 0 0 rg BT 520.37 358.10 Td (ferentiates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (itself ) Tj ET Q q 0 0 0 rg BT 72.51 346.10 Td (from ) Tj ET Q q 0 0 0 rg BT 94.46 346.10 Td (many ) Tj ET Q q 0 0 0 rg BT 119.19 346.10 Td (lar) Tj ET Q q 0 0 0 rg BT 129.56 346.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 144.84 346.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 190.12 346.10 Td (competing ) Tj ET Q q 0 0 0 rg BT 234.84 346.10 Td (for ) Tj ET Q q 0 0 0 rg BT 249.02 346.10 Td (this ) Tj ET Q q 0 0 0 rg BT 265.98 346.10 Td (specialty ) Tj ET Q q 0 0 0 rg BT 304.03 346.10 Td (business ) Tj ET Q q 0 0 0 rg BT 340.44 346.10 Td (by ) Tj ET Q q 0 0 0 rg BT 352.95 346.10 Td (exclusively ) Tj ET Q q 0 0 0 rg BT 401.01 346.10 Td (focusing ) Tj ET Q q 0 0 0 rg BT 437.96 346.10 Td (on ) Tj ET Q q 0 0 0 rg BT 450.47 346.10 Td (these ) Tj ET Q q 0 0 0 rg BT 473.54 346.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 494.94 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 505.78 346.10 Td (insurance. ) Tj ET Q q 0 0 0 rg BT 548.93 346.10 Td (W) Tj ET Q q 0 0 0 rg BT 557.56 346.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 81.12 334.10 Td (our ) Tj ET Q q 0 0 0 rg BT 96.70 334.10 Td (exclusive ) Tj ET Q q 0 0 0 rg BT 136.71 334.10 Td (focus ) Tj ET Q q 0 0 0 rg BT 160.62 334.10 Td (results ) Tj ET Q q 0 0 0 rg BT 188.98 334.10 Td (in ) Tj ET Q q 0 0 0 rg BT 199.00 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 213.47 334.10 Td (deployment ) Tj ET Q q 0 0 0 rg BT 262.93 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 273.51 334.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 327.41 334.10 Td (and ) Tj ET Q q 0 0 0 rg BT 344.10 334.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 372.45 334.10 Td (professionals ) Tj ET Q q 0 0 0 rg BT 427.47 334.10 Td (who ) Tj ET Q q 0 0 0 rg BT 446.94 334.10 Td (are ) Tj ET Q q 0 0 0 rg BT 461.39 334.10 Td (more ) Tj ET Q q 0 0 0 rg BT 484.19 334.10 Td (familiar ) Tj ET Q q 0 0 0 rg BT 518.09 334.10 Td (with ) Tj ET Q q 0 0 0 rg BT 538.12 334.10 Td (issues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (common ) Tj ET Q q 0 0 0 rg BT 87.50 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 97.77 322.10 Td (specialty ) Tj ET Q q 0 0 0 rg BT 135.82 322.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 185.51 322.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 233.00 322.10 Td (lines, ) Tj ET Q q 0 0 0 rg BT 256.89 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 273.83 322.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 310.77 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 325.48 322.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 364.64 322.10 Td (better ) Tj ET Q q 0 0 0 rg BT 389.90 322.10 Td (service.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.04 298.10 Td (competitors ) Tj ET Q q 0 0 0 rg BT 117.74 298.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 157.43 298.10 Td (fall ) Tj ET Q q 0 0 0 rg BT 173.24 298.10 Td (into ) Tj ET Q q 0 0 0 rg BT 191.29 298.10 Td (two ) Tj ET Q q 0 0 0 rg BT 208.77 298.10 Td (categories. ) Tj ET Q q 0 0 0 rg BT 254.29 298.10 Td ( ) Tj ET Q q 0 0 0 rg BT 256.60 298.10 Td (The ) Tj ET Q q 0 0 0 rg BT 274.64 298.10 Td (first ) Tj ET Q q 0 0 0 rg BT 293.23 298.10 Td (is ) Tj ET Q q 0 0 0 rg BT 302.39 298.10 Td (made ) Tj ET Q q 0 0 0 rg BT 326.53 298.10 Td (up ) Tj ET Q q 0 0 0 rg BT 339.02 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 349.84 298.10 Td (lar) Tj ET Q q 0 0 0 rg BT 360.21 298.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 372.13 298.10 Td (generalist ) Tj ET Q q 0 0 0 rg BT 413.49 298.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 447.64 298.10 Td (who ) Tj ET Q q 0 0 0 rg BT 467.35 298.10 Td (often ) Tj ET Q q 0 0 0 rg BT 490.38 298.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 506.76 298.10 Td (their ) Tj ET Q q 0 0 0 rg BT 527.57 298.10 Td (products ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.67 286.10 Td (our ) Tj ET Q q 0 0 0 rg BT 76.89 286.10 Td (niche ) Tj ET Q q 0 0 0 rg BT 101.44 286.10 Td (through ) Tj ET Q q 0 0 0 rg BT 135.44 286.10 Td (intermediaries ) Tj ET Q q 0 0 0 rg BT 195.53 286.10 Td (such ) Tj ET Q q 0 0 0 rg BT 216.76 286.10 Td (as ) Tj ET Q q 0 0 0 rg BT 227.98 286.10 Td (managing ) Tj ET Q q 0 0 0 rg BT 270.31 286.10 Td (general ) Tj ET Q q 0 0 0 rg BT 302.62 286.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 331.06 286.10 Td (or ) Tj ET Q q 0 0 0 rg BT 342.29 286.10 Td (wholesalers. ) Tj ET Q q 0 0 0 rg BT 394.89 286.10 Td ( ) Tj ET Q q 0 0 0 rg BT 397.57 286.10 Td (The ) Tj ET Q q 0 0 0 rg BT 416.01 286.10 Td (second ) Tj ET Q q 0 0 0 rg BT 446.67 286.10 Td (consists ) Tj ET Q q 0 0 0 rg BT 481.24 286.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 521.34 286.10 Td (of ) Tj ET Q q 0 0 0 rg BT 532.56 286.10 Td (smaller ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (local ) Tj ET Q q 0 0 0 rg BT 71.77 274.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 112.42 274.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 160.01 274.10 Td ( ) Tj ET Q q 0 0 0 rg BT 162.18 274.10 Td (These ) Tj ET Q q 0 0 0 rg BT 188.39 274.10 Td (smaller ) Tj ET Q q 0 0 0 rg BT 220.16 274.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 265.26 274.10 Td (may ) Tj ET Q q 0 0 0 rg BT 284.81 274.10 Td (focus ) Tj ET Q q 0 0 0 rg BT 308.80 274.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 348.35 274.10 Td (on ) Tj ET Q q 0 0 0 rg BT 360.68 274.10 Td (one ) Tj ET Q q 0 0 0 rg BT 377.45 274.10 Td (or ) Tj ET Q q 0 0 0 rg BT 388.12 274.10 Td (more ) Tj ET Q q 0 0 0 rg BT 411.00 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 421.66 274.10 Td (our ) Tj ET Q q 0 0 0 rg BT 437.33 274.10 Td (niche ) Tj ET Q q 0 0 0 rg BT 461.32 274.10 Td (markets. ) Tj ET Q q 0 0 0 rg BT 497.81 274.10 Td ( ) Tj ET Q q 0 0 0 rg BT 500.14 274.10 Td (Or) Tj ET Q q 0 0 0 rg BT 510.29 274.10 Td (, ) Tj ET Q q 0 0 0 rg BT 515.12 274.10 Td (as ) Tj ET Q q 0 0 0 rg BT 525.79 274.10 Td (is ) Tj ET Q q 0 0 0 rg BT 534.79 274.10 Td (typical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (in ) Tj ET Q q 0 0 0 rg BT 61.00 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 76.44 262.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 113.54 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 125.09 262.10 Td (geographic ) Tj ET Q q 0 0 0 rg BT 172.73 262.10 Td (areas ) Tj ET Q q 0 0 0 rg BT 196.49 262.10 Td (where ) Tj ET Q q 0 0 0 rg BT 224.14 262.10 Td (we ) Tj ET Q q 0 0 0 rg BT 239.02 262.10 Td (compete, ) Tj ET Q q 0 0 0 rg BT 278.61 262.10 Td (they ) Tj ET Q q 0 0 0 rg BT 299.05 262.10 Td (have ) Tj ET Q q 0 0 0 rg BT 321.15 262.10 Td (a ) Tj ET Q q 0 0 0 rg BT 328.80 262.10 Td (broader ) Tj ET Q q 0 0 0 rg BT 362.56 262.10 Td (focus, ) Tj ET Q q 0 0 0 rg BT 389.94 262.10 Td (often ) Tj ET Q q 0 0 0 rg BT 413.71 262.10 Td (writing ) Tj ET Q q 0 0 0 rg BT 445.82 262.10 Td (a ) Tj ET Q q 0 0 0 rg BT 453.47 262.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 498.91 262.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 532.12 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 543.67 262.10 Td (non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 86.38 250.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 107.76 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 118.59 250.10 Td (business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 226.10 Td (o ) Tj ET Q q 0 0 0 rg BT 62.89 226.10 Td (compete ) Tj ET Q q 0 0 0 rg BT 99.24 226.10 Td (successfully ) Tj ET Q q 0 0 0 rg BT 150.60 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 160.86 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 175.55 226.10 Td (specialty ) Tj ET Q q 0 0 0 rg BT 213.57 226.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 263.25 226.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 304.04 226.10 Td (industry) Tj ET Q q 0 0 0 rg BT 336.17 226.10 Td (, ) Tj ET Q q 0 0 0 rg BT 341.15 226.10 Td (we ) Tj ET Q q 0 0 0 rg BT 355.29 226.10 Td (rely ) Tj ET Q q 0 0 0 rg BT 373.32 226.10 Td (on ) Tj ET Q q 0 0 0 rg BT 385.80 226.10 Td (our ) Tj ET Q q 0 0 0 rg BT 401.61 226.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 429.64 226.10 Td (to: ) Tj ET Q q 0 0 0 rg BT 442.68 226.10 Td (identify ) Tj ET Q q 0 0 0 rg BT 476.26 226.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 510.39 226.10 Td (that ) Tj ET Q q 0 0 0 rg BT 527.87 226.10 Td (are ) Tj ET Q q 0 0 0 rg BT 542.55 226.10 Td (most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 74.10 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 83.21 214.10 Td (produce ) Tj ET Q q 0 0 0 rg BT 116.74 214.10 Td (an ) Tj ET Q q 0 0 0 rg BT 127.51 214.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 180.49 214.10 Td (profit; ) Tj ET Q q 0 0 0 rg BT 206.82 214.10 Td (operate ) Tj ET Q q 0 0 0 rg BT 237.57 214.10 Td (with ) Tj ET Q q 0 0 0 rg BT 256.67 214.10 Td (a ) Tj ET Q q 0 0 0 rg BT 262.44 214.10 Td (disciplined ) Tj ET Q q 0 0 0 rg BT 307.65 214.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 360.63 214.10 Td (approach; ) Tj ET Q q 0 0 0 rg BT 401.39 214.10 Td (of) Tj ET Q q 0 0 0 rg BT 409.54 214.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 421.96 214.10 Td (diversified ) Tj ET Q q 0 0 0 rg BT 466.05 214.10 Td (products ) Tj ET Q q 0 0 0 rg BT 501.82 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 517.59 214.10 Td (geographic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (platforms; ) Tj ET Q q 0 0 0 rg BT 94.25 202.10 Td (practice ) Tj ET Q q 0 0 0 rg BT 129.04 202.10 Td (ef) Tj ET Q q 0 0 0 rg BT 136.62 202.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 166.97 202.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 196.22 202.10 Td (management; ) Tj ET Q q 0 0 0 rg BT 253.23 202.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 285.25 202.10 Td (appropriately ) Tj ET Q q 0 0 0 rg BT 341.70 202.10 Td (for ) Tj ET Q q 0 0 0 rg BT 356.51 202.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 386.87 202.10 Td (claims; ) Tj ET Q q 0 0 0 rg BT 418.90 202.10 Td (strive ) Tj ET Q q 0 0 0 rg BT 444.26 202.10 Td (for ) Tj ET Q q 0 0 0 rg BT 459.07 202.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 478.32 202.10 Td (containment ) Tj ET Q q 0 0 0 rg BT 530.90 202.10 Td (through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (economies ) Tj ET Q q 0 0 0 rg BT 95.26 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.09 190.10 Td (scale ) Tj ET Q q 0 0 0 rg BT 128.58 190.10 Td (where ) Tj ET Q q 0 0 0 rg BT 155.51 190.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 189.10 190.10 Td (appropriate; ) Tj ET Q q 0 0 0 rg BT 239.91 190.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 259.35 190.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 292.40 190.10 Td (services ) Tj ET Q q 0 0 0 rg BT 327.10 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 344.04 190.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 393.75 190.10 Td (commissions ) Tj ET Q q 0 0 0 rg BT 448.48 190.10 Td (to ) Tj ET Q q 0 0 0 rg BT 458.75 190.10 Td (our ) Tj ET Q q 0 0 0 rg BT 474.58 190.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 525.96 190.10 Td (agents. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Regulation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 142.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.57 142.10 Td (are ) Tj ET Q q 0 0 0 rg BT 80.27 142.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 111.08 142.10 Td (to ) Tj ET Q q 0 0 0 rg BT 121.35 142.10 Td (extensive ) Tj ET Q q 0 0 0 rg BT 161.61 142.10 Td (regulation, ) Tj ET Q q 0 0 0 rg BT 207.14 142.10 Td (particularly ) Tj ET Q q 0 0 0 rg BT 255.72 142.10 Td (at ) Tj ET Q q 0 0 0 rg BT 265.43 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 280.14 142.10 Td (state ) Tj ET Q q 0 0 0 rg BT 300.96 142.10 Td (level. ) Tj ET Q q 0 0 0 rg BT 325.20 142.10 Td (The ) Tj ET Q q 0 0 0 rg BT 343.24 142.10 Td (method, ) Tj ET Q q 0 0 0 rg BT 378.23 142.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 405.15 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 422.08 142.10 Td (substance ) Tj ET Q q 0 0 0 rg BT 463.45 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 474.27 142.10 Td (such ) Tj ET Q q 0 0 0 rg BT 495.10 142.10 Td (regulation ) Tj ET Q q 0 0 0 rg BT 538.13 142.10 Td (varies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (by ) Tj ET Q q 0 0 0 rg BT 62.97 130.10 Td (state, ) Tj ET Q q 0 0 0 rg BT 86.77 130.10 Td (but ) Tj ET Q q 0 0 0 rg BT 102.52 130.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 142.70 130.10 Td (has ) Tj ET Q q 0 0 0 rg BT 159.00 130.10 Td (its ) Tj ET Q q 0 0 0 rg BT 171.43 130.10 Td (source ) Tj ET Q q 0 0 0 rg BT 200.50 130.10 Td (in ) Tj ET Q q 0 0 0 rg BT 211.25 130.10 Td (statutes ) Tj ET Q q 0 0 0 rg BT 244.22 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 261.63 130.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 309.04 130.10 Td (which ) Tj ET Q q 0 0 0 rg BT 336.45 130.10 Td (establish ) Tj ET Q q 0 0 0 rg BT 374.42 130.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 415.16 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 432.57 130.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 487.75 130.10 Td (for ) Tj ET Q q 0 0 0 rg BT 502.38 130.10 Td (conducting ) Tj ET Q q 0 0 0 rg BT 549.79 130.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (business ) Tj ET Q q 0 0 0 rg BT 86.23 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 96.91 118.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 137.57 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 154.35 118.10 Td (that ) Tj ET Q q 0 0 0 rg BT 171.68 118.10 Td (delegate ) Tj ET Q q 0 0 0 rg BT 207.34 118.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 250.77 118.10 Td (authority ) Tj ET Q q 0 0 0 rg BT 289.22 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 299.34 118.10 Td (state ) Tj ET Q q 0 0 0 rg BT 320.01 118.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 360.67 118.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 404.10 118.10 Td (agencies. ) Tj ET Q q 0 0 0 rg BT 443.37 118.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 484.58 118.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 529.69 118.10 Td (can ) Tj ET Q q 0 0 0 rg BT 545.91 118.10 Td (also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (be ) Tj ET Q q 0 0 0 rg BT 61.67 106.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 92.23 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 102.25 106.10 Td (so-called ) Tj ET Q q 0 0 0 rg BT 140.58 106.10 Td (desk ) Tj ET Q q 0 0 0 rg BT 165.58 106.10 Td (drawer ) Tj ET Q q 0 0 0 rg BT 195.58 106.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 221.69 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 232.25 106.10 Td (state ) Tj ET Q q 0 0 0 rg BT 252.81 106.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 293.36 106.10 Td (regulators, ) Tj ET Q q 0 0 0 rg BT 338.08 106.10 Td (which ) Tj ET Q q 0 0 0 rg BT 364.76 106.10 Td (are ) Tj ET Q q 0 0 0 rg BT 379.20 106.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 422.53 106.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 444.20 106.10 Td (or ) Tj ET Q q 0 0 0 rg BT 454.77 106.10 Td (best ) Tj ET Q q 0 0 0 rg BT 473.11 106.10 Td (practices ) Tj ET Q q 0 0 0 rg BT 510.88 106.10 Td (that ) Tj ET Q q 0 0 0 rg BT 528.11 106.10 Td (have ) Tj ET Q q 0 0 0 rg BT 549.22 106.10 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (been ) Tj ET Q q 0 0 0 rg BT 71.82 94.10 Td (codified ) Tj ET Q q 0 0 0 rg BT 107.52 94.10 Td (or ) Tj ET Q q 0 0 0 rg BT 118.79 94.10 Td (formally ) Tj ET Q q 0 0 0 rg BT 156.16 94.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 190.75 94.10 Td (through ) Tj ET Q q 0 0 0 rg BT 224.80 94.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 268.83 94.10 Td (proceedings. ) Tj ET Q q 0 0 0 rg BT 322.58 94.10 Td (In ) Tj ET Q q 0 0 0 rg BT 333.85 94.10 Td (general, ) Tj ET Q q 0 0 0 rg BT 368.72 94.10 Td (such ) Tj ET Q q 0 0 0 rg BT 389.98 94.10 Td (regulation ) Tj ET Q q 0 0 0 rg BT 433.46 94.10 Td (is ) Tj ET Q q 0 0 0 rg BT 443.07 94.10 Td (intended ) Tj ET Q q 0 0 0 rg BT 480.45 94.10 Td (for ) Tj ET Q q 0 0 0 rg BT 495.04 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 510.20 94.10 Td (protection ) Tj ET Q q 0 0 0 rg BT 553.68 94.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (those ) Tj ET Q q 0 0 0 rg BT 72.94 82.10 Td (who ) Tj ET Q q 0 0 0 rg BT 92.00 82.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 129.37 82.10 Td (or ) Tj ET Q q 0 0 0 rg BT 139.54 82.10 Td (use ) Tj ET Q q 0 0 0 rg BT 154.70 82.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 194.85 82.10 Td (products ) Tj ET Q q 0 0 0 rg BT 231.13 82.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 257.96 82.10 Td (by ) Tj ET Q q 0 0 0 rg BT 269.80 82.10 Td (our ) Tj ET Q q 0 0 0 rg BT 284.96 82.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 325.11 82.10 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 376.66 82.10 Td (not ) Tj ET Q q 0 0 0 rg BT 391.28 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.33 82.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 436.60 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 446.77 82.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 486.37 82.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 513.20 82.10 Td (by ) Tj ET Q q 0 0 0 rg BT 525.04 82.10 Td (us. ) Tj ET Q q 0 0 0 rg BT 538.13 82.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 69.98 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 86.07 70.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 132.15 70.10 Td (have ) Tj ET Q q 0 0 0 rg BT 152.68 70.10 Td (a ) Tj ET Q q 0 0 0 rg BT 158.76 70.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 202.63 70.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 231.49 70.10 Td (on ) Tj ET Q q 0 0 0 rg BT 243.14 70.10 Td (our ) Tj ET Q q 0 0 0 rg BT 258.12 70.10 Td (business ) Tj ET Q q 0 0 0 rg BT 293.66 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 309.75 70.10 Td (relate ) Tj ET Q q 0 0 0 rg BT 333.60 70.10 Td (to ) Tj ET Q q 0 0 0 rg BT 343.02 70.10 Td (a ) Tj ET Q q 0 0 0 rg BT 349.11 70.10 Td (wide ) Tj ET Q q 0 0 0 rg BT 370.20 70.10 Td (variety ) Tj ET Q q 0 0 0 rg BT 399.61 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 409.59 70.10 Td (matters ) Tj ET Q q 0 0 0 rg BT 440.68 70.10 Td (including ) Tj ET Q q 0 0 0 rg BT 480.10 70.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 525.62 70.10 Td (methods, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (agent ) Tj ET Q q 0 0 0 rg BT 73.94 58.10 Td (and ) Tj ET Q q 0 0 0 rg BT 90.66 58.10 Td (company ) Tj ET Q q 0 0 0 rg BT 129.60 58.10 Td (licensure, ) Tj ET Q q 0 0 0 rg BT 170.48 58.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 198.87 58.10 Td (procedures, ) Tj ET Q q 0 0 0 rg BT 247.52 58.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 287.56 58.10 Td (governance, ) Tj ET Q q 0 0 0 rg BT 338.42 58.10 Td (examinations, ) Tj ET Q q 0 0 0 rg BT 396.53 58.10 Td (investing ) Tj ET Q q 0 0 0 rg BT 435.48 58.10 Td (practices, ) Tj ET Q q 0 0 0 rg BT 475.79 58.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 503.07 58.10 Td (forms, ) Tj ET Q q 0 0 0 rg BT 531.19 58.10 Td (pricing, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 72.49 46.10 Td (practices, ) Tj ET Q q 0 0 0 rg BT 113.02 46.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 144.38 46.10 Td (adequacy ) Tj ET Q q 0 0 0 rg BT 184.64 46.10 Td (and ) Tj ET Q q 0 0 0 rg BT 201.58 46.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 255.73 46.10 Td (standards. ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (In ) Tj ET Q q 0 0 0 rg BT 61.13 742.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 88.36 742.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 114.77 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 129.79 742.10 Td (state ) Tj ET Q q 0 0 0 rg BT 150.92 742.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 192.04 742.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 235.93 742.10 Td (framework ) Tj ET Q q 0 0 0 rg BT 282.60 742.10 Td (has ) Tj ET Q q 0 0 0 rg BT 298.74 742.10 Td (come ) Tj ET Q q 0 0 0 rg BT 323.20 742.10 Td (under ) Tj ET Q q 0 0 0 rg BT 348.77 742.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 389.33 742.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 419.89 742.10 Td (scrutiny) Tj ET Q q 0 0 0 rg BT 451.45 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 456.76 742.10 Td (Most ) Tj ET Q q 0 0 0 rg BT 480.12 742.10 Td (recently) Tj ET Q q 0 0 0 rg BT 511.68 742.10 Td (, ) Tj ET Q q 0 0 0 rg BT 516.98 742.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 554.22 742.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.28 730.10 Td (Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 115.22 730.10 Td (Regulatory ) Tj ET Q q 0 0 0 rg BT 161.72 730.10 Td (Reform ) Tj ET Q q 0 0 0 rg BT 193.87 730.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 210.37 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 220.76 730.10 Td (2010, ) Tj ET Q q 0 0 0 rg BT 245.33 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 259.61 730.10 Td (Federal ) Tj ET Q q 0 0 0 rg BT 291.65 730.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 332.58 730.10 Td (Of) Tj ET Q q 0 0 0 rg BT 342.95 730.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 360.00 730.10 Td (was ) Tj ET Q q 0 0 0 rg BT 377.61 730.10 Td (formed ) Tj ET Q q 0 0 0 rg BT 408.55 730.10 Td (for ) Tj ET Q q 0 0 0 rg BT 422.28 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 436.55 730.10 Td (purpose ) Tj ET Q q 0 0 0 rg BT 470.28 730.10 Td (of, ) Tj ET Q q 0 0 0 rg BT 483.17 730.10 Td (among ) Tj ET Q q 0 0 0 rg BT 512.45 730.10 Td (other ) Tj ET Q q 0 0 0 rg BT 535.06 730.10 Td (things, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (examining ) Tj ET Q q 0 0 0 rg BT 95.70 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 113.64 718.10 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 158.78 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 174.49 718.10 Td (ef) Tj ET Q q 0 0 0 rg BT 182.08 718.10 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 229.99 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 241.82 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 257.52 718.10 Td (current ) Tj ET Q q 0 0 0 rg BT 289.33 718.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 331.14 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 349.07 718.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 398.65 718.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 443.24 718.10 Td (framework. ) Tj ET Q q 0 0 0 rg BT 493.10 718.10 Td (In ) Tj ET Q q 0 0 0 rg BT 504.92 718.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 543.68 718.10 Td (state ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (legislators ) Tj ET Q q 0 0 0 rg BT 93.60 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 110.54 706.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 151.36 706.10 Td (regulators ) Tj ET Q q 0 0 0 rg BT 193.84 706.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 230.78 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 241.05 706.10 Td (examine ) Tj ET Q q 0 0 0 rg BT 277.43 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.14 706.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 340.18 706.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 367.66 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 384.60 706.10 Td (scope ) Tj ET Q q 0 0 0 rg BT 409.87 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 420.70 706.10 Td (state ) Tj ET Q q 0 0 0 rg BT 441.52 706.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 482.34 706.10 Td (regulation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Many ) Tj ET Q q 0 0 0 rg BT 75.76 682.10 Td (state ) Tj ET Q q 0 0 0 rg BT 96.52 682.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 117.29 682.10 Td (require ) Tj ET Q q 0 0 0 rg BT 148.04 682.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 182.13 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 192.34 682.10 Td (file ) Tj ET Q q 0 0 0 rg BT 208.10 682.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 248.85 682.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 276.28 682.10 Td (forms ) Tj ET Q q 0 0 0 rg BT 302.05 682.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 330.03 682.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 370.78 682.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 409.31 682.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 430.63 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 447.50 682.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 501.59 682.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 523.46 682.10 Td (with ) Tj ET Q q 0 0 0 rg BT 543.67 682.10 Td (state ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 90.69 670.10 Td (regulators. ) Tj ET Q q 0 0 0 rg BT 135.55 670.10 Td (In ) Tj ET Q q 0 0 0 rg BT 146.25 670.10 Td (some ) Tj ET Q q 0 0 0 rg BT 169.74 670.10 Td (states, ) Tj ET Q q 0 0 0 rg BT 196.83 670.10 Td (such ) Tj ET Q q 0 0 0 rg BT 217.53 670.10 Td (rates, ) Tj ET Q q 0 0 0 rg BT 241.28 670.10 Td (forms ) Tj ET Q q 0 0 0 rg BT 266.99 670.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 294.91 670.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 316.72 670.10 Td (must ) Tj ET Q q 0 0 0 rg BT 338.55 670.10 Td (be ) Tj ET Q q 0 0 0 rg BT 350.36 670.10 Td (approved ) Tj ET Q q 0 0 0 rg BT 389.94 670.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 411.75 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 421.91 670.10 Td (use. ) Tj ET Q q 0 0 0 rg BT 439.94 670.10 Td (While ) Tj ET Q q 0 0 0 rg BT 466.75 670.10 Td (these ) Tj ET Q q 0 0 0 rg BT 489.67 670.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 544.25 670.10 Td (vary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (from ) Tj ET Q q 0 0 0 rg BT 72.11 658.10 Td (state ) Tj ET Q q 0 0 0 rg BT 93.10 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 103.55 658.10 Td (state, ) Tj ET Q q 0 0 0 rg BT 127.04 658.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 166.91 658.10 Td (speaking, ) Tj ET Q q 0 0 0 rg BT 207.63 658.10 Td (regulators ) Tj ET Q q 0 0 0 rg BT 250.28 658.10 Td (review ) Tj ET Q q 0 0 0 rg BT 280.16 658.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 318.93 658.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 340.47 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 350.92 658.10 Td (ensure ) Tj ET Q q 0 0 0 rg BT 379.69 658.10 Td (they ) Tj ET Q q 0 0 0 rg BT 399.57 658.10 Td (are ) Tj ET Q q 0 0 0 rg BT 414.45 658.10 Td (not ) Tj ET Q q 0 0 0 rg BT 429.90 658.10 Td (excessive, ) Tj ET Q q 0 0 0 rg BT 473.38 658.10 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 519.36 658.10 Td (or ) Tj ET Q q 0 0 0 rg BT 530.36 658.10 Td (unfairly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (discriminatory) Tj ET Q q 0 0 0 rg BT 107.67 646.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.65 622.10 Td (a ) Tj ET Q q 0 0 0 rg BT 70.62 622.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 97.88 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 112.63 622.10 Td (speed ) Tj ET Q q 0 0 0 rg BT 137.93 622.10 Td (with ) Tj ET Q q 0 0 0 rg BT 158.25 622.10 Td (which ) Tj ET Q q 0 0 0 rg BT 185.22 622.10 Td (an ) Tj ET Q q 0 0 0 rg BT 197.19 622.10 Td (insurer ) Tj ET Q q 0 0 0 rg BT 227.50 622.10 Td (can ) Tj ET Q q 0 0 0 rg BT 243.91 622.10 Td (change ) Tj ET Q q 0 0 0 rg BT 274.76 622.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 301.17 622.10 Td (in ) Tj ET Q q 0 0 0 rg BT 311.49 622.10 Td (response ) Tj ET Q q 0 0 0 rg BT 349.01 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 359.33 622.10 Td (competition ) Tj ET Q q 0 0 0 rg BT 409.63 622.10 Td (or ) Tj ET Q q 0 0 0 rg BT 420.50 622.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 460.79 622.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 483.32 622.10 Td (depends, ) Tj ET Q q 0 0 0 rg BT 521.13 622.10 Td (in ) Tj ET Q q 0 0 0 rg BT 531.44 622.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 552.02 622.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 84.21 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 98.43 610.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 136.54 610.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 153.53 610.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 173.86 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 190.31 610.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 236.75 610.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 248.19 610.10 Td (require ) Tj ET Q q 0 0 0 rg BT 278.51 610.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 299.95 610.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 336.94 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 347.28 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 361.50 610.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 399.60 610.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 420.49 610.10 Td (to ) Tj ET Q q 0 0 0 rg BT 430.27 610.10 Td (be ) Tj ET Q q 0 0 0 rg BT 441.71 610.10 Td (char) Tj ET Q q 0 0 0 rg BT 458.74 610.10 Td (ged, ) Tj ET Q q 0 0 0 rg BT 477.68 610.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 491.90 610.10 Td (permit ) Tj ET Q q 0 0 0 rg BT 520.01 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 534.23 610.10 Td (insurer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.30 598.10 Td (file ) Tj ET Q q 0 0 0 rg BT 76.14 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 93.10 598.10 Td (use ) Tj ET Q q 0 0 0 rg BT 108.95 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.68 598.10 Td (forms, ) Tj ET Q q 0 0 0 rg BT 152.03 598.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 173.43 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 190.38 598.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 212.34 598.10 Td (immediately) Tj ET Q q 0 0 0 rg BT 261.68 598.10 Td (, ) Tj ET Q q 0 0 0 rg BT 266.69 598.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 297.54 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 307.83 598.10 Td (further ) Tj ET Q q 0 0 0 rg BT 337.56 598.10 Td (review) Tj ET Q q 0 0 0 rg BT 364.12 598.10 Td (, ) Tj ET Q q 0 0 0 rg BT 369.14 598.10 Td (or ) Tj ET Q q 0 0 0 rg BT 379.99 598.10 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 397.50 598.10 Td (permit ) Tj ET Q q 0 0 0 rg BT 426.12 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 440.86 598.10 Td (insurer ) Tj ET Q q 0 0 0 rg BT 471.14 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 481.44 598.10 Td (immediately ) Tj ET Q q 0 0 0 rg BT 533.94 598.10 Td (use ) Tj ET Q q 0 0 0 rg BT 549.79 598.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (forms, ) Tj ET Q q 0 0 0 rg BT 78.58 586.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 100.21 586.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 128.52 586.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 150.71 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 167.90 586.10 Td (to ) Tj ET Q q 0 0 0 rg BT 178.43 586.10 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 233.40 586.10 Td (file ) Tj ET Q q 0 0 0 rg BT 249.48 586.10 Td (them ) Tj ET Q q 0 0 0 rg BT 272.23 586.10 Td (with ) Tj ET Q q 0 0 0 rg BT 292.76 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 307.73 586.10 Td (regulator) Tj ET Q q 0 0 0 rg BT 343.28 586.10 Td (. ) Tj ET Q q 0 0 0 rg BT 348.33 586.10 Td (When ) Tj ET Q q 0 0 0 rg BT 374.96 586.10 Td (state ) Tj ET Q q 0 0 0 rg BT 396.04 586.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 417.13 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 434.32 586.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 481.50 586.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 534.25 586.10 Td (restrict ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (both ) Tj ET Q q 0 0 0 rg BT 70.69 574.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 125.26 574.10 Td (and ) Tj ET Q q 0 0 0 rg BT 142.62 574.10 Td (pricing, ) Tj ET Q q 0 0 0 rg BT 176.36 574.10 Td (it ) Tj ET Q q 0 0 0 rg BT 184.83 574.10 Td (can ) Tj ET Q q 0 0 0 rg BT 201.62 574.10 Td (become ) Tj ET Q q 0 0 0 rg BT 235.63 574.10 Td (more ) Tj ET Q q 0 0 0 rg BT 259.09 574.10 Td (dif) Tj ET Q q 0 0 0 rg BT 270.02 574.10 Td (ficult ) Tj ET Q q 0 0 0 rg BT 294.04 574.10 Td (for ) Tj ET Q q 0 0 0 rg BT 308.61 574.10 Td (an ) Tj ET Q q 0 0 0 rg BT 320.97 574.10 Td (insurer ) Tj ET Q q 0 0 0 rg BT 351.65 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 362.34 574.10 Td (make ) Tj ET Q q 0 0 0 rg BT 386.91 574.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 437.60 574.10 Td (quickly ) Tj ET Q q 0 0 0 rg BT 470.51 574.10 Td (in ) Tj ET Q q 0 0 0 rg BT 481.21 574.10 Td (response ) Tj ET Q q 0 0 0 rg BT 519.11 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 529.80 574.10 Td (changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.94 562.10 Td (could ) Tj ET Q q 0 0 0 rg BT 101.66 562.10 Td (af) Tj ET Q q 0 0 0 rg BT 109.24 562.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 126.73 562.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 173.85 562.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 90.17 538.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 134.24 538.10 Td (are ) Tj ET Q q 0 0 0 rg BT 147.76 538.10 Td (required ) Tj ET Q q 0 0 0 rg BT 182.38 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 191.46 538.10 Td (report ) Tj ET Q q 0 0 0 rg BT 216.65 538.10 Td (their ) Tj ET Q q 0 0 0 rg BT 236.28 538.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 272.56 538.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 311.64 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 327.39 538.10 Td (results ) Tj ET Q q 0 0 0 rg BT 354.80 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 364.44 538.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 407.40 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 416.48 538.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 462.75 538.10 Td (with ) Tj ET Q q 0 0 0 rg BT 481.84 538.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 518.14 538.10 Td (accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (principles ) Tj ET Q q 0 0 0 rg BT 90.87 526.10 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 133.96 526.10 Td (or ) Tj ET Q q 0 0 0 rg BT 143.73 526.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 183.49 526.10 Td (by ) Tj ET Q q 0 0 0 rg BT 194.93 526.10 Td (state ) Tj ET Q q 0 0 0 rg BT 214.69 526.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 254.45 526.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 274.22 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 290.09 526.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 335.97 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 351.84 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 365.50 526.10 Td (National ) Tj ET Q q 0 0 0 rg BT 401.06 526.10 Td (Association ) Tj ET Q q 0 0 0 rg BT 449.71 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 459.48 526.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 499.79 526.10 Td (Commissioners ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 67.29 514.10 Td (NAIC\). ) Tj ET Q q 0 0 0 rg BT 107.79 514.10 Td (As ) Tj ET Q q 0 0 0 rg BT 120.65 514.10 Td (a ) Tj ET Q q 0 0 0 rg BT 126.82 514.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 153.28 514.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 187.80 514.10 Td (data ) Tj ET Q q 0 0 0 rg BT 206.19 514.10 Td (is ) Tj ET Q q 0 0 0 rg BT 214.60 514.10 Td (available ) Tj ET Q q 0 0 0 rg BT 252.43 514.10 Td (that ) Tj ET Q q 0 0 0 rg BT 269.17 514.10 Td (enables ) Tj ET Q q 0 0 0 rg BT 300.89 514.10 Td (comparisons ) Tj ET Q q 0 0 0 rg BT 353.18 514.10 Td (between ) Tj ET Q q 0 0 0 rg BT 388.23 514.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 428.29 514.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 475.29 514.10 Td (including ) Tj ET Q q 0 0 0 rg BT 514.81 514.10 Td (competitors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (who ) Tj ET Q q 0 0 0 rg BT 69.15 502.10 Td (are ) Tj ET Q q 0 0 0 rg BT 83.28 502.10 Td (not ) Tj ET Q q 0 0 0 rg BT 97.99 502.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 128.24 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 137.94 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 152.08 502.10 Td (requirement ) Tj ET Q q 0 0 0 rg BT 202.32 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 212.03 502.10 Td (prepare ) Tj ET Q q 0 0 0 rg BT 243.93 502.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 280.83 502.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 324.97 502.10 Td (in ) Tj ET Q q 0 0 0 rg BT 334.68 502.10 Td (conformity ) Tj ET Q q 0 0 0 rg BT 381.04 502.10 Td (with ) Tj ET Q q 0 0 0 rg BT 400.74 502.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 446.54 502.10 Td (principles ) Tj ET Q q 0 0 0 rg BT 487.90 502.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 527.03 502.10 Td (accepted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.51 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 73.47 490.10 Td (United ) Tj ET Q q 0 0 0 rg BT 102.42 490.10 Td (States ) Tj ET Q q 0 0 0 rg BT 128.04 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 137.72 490.10 Td (America ) Tj ET Q q 0 0 0 rg BT 173.88 490.10 Td (\("U.S. ) Tj ET Q q 0 0 0 rg BT 200.82 490.10 Td (GAAP"\). ) Tj ET Q q 0 0 0 rg BT 239.56 490.10 Td (W) Tj ET Q q 0 0 0 rg BT 248.20 490.10 Td (e ) Tj ET Q q 0 0 0 rg BT 254.38 490.10 Td (frequently ) Tj ET Q q 0 0 0 rg BT 297.21 490.10 Td (use ) Tj ET Q q 0 0 0 rg BT 312.27 490.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 346.79 490.10 Td (publications ) Tj ET Q q 0 0 0 rg BT 397.40 490.10 Td (containing ) Tj ET Q q 0 0 0 rg BT 441.35 490.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 478.08 490.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 514.80 490.10 Td (information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.14 478.10 Td (assess ) Tj ET Q q 0 0 0 rg BT 86.94 478.10 Td (our ) Tj ET Q q 0 0 0 rg BT 102.62 478.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 152.19 478.10 Td (position. ) Tj ET Q q 0 0 0 rg BT 189.27 478.10 Td (State ) Tj ET Q q 0 0 0 rg BT 211.63 478.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 252.30 478.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 272.99 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 289.78 478.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 336.57 478.10 Td (also ) Tj ET Q q 0 0 0 rg BT 355.04 478.10 Td (prescribe ) Tj ET Q q 0 0 0 rg BT 394.04 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 408.62 478.10 Td (form ) Tj ET Q q 0 0 0 rg BT 430.41 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 447.21 478.10 Td (content ) Tj ET Q q 0 0 0 rg BT 479.00 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 489.69 478.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 527.04 478.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (statements, ) Tj ET Q q 0 0 0 rg BT 97.10 466.10 Td (require ) Tj ET Q q 0 0 0 rg BT 127.81 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 142.42 466.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 195.34 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 206.06 466.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 241.22 466.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 278.59 466.10 Td (examinations ) Tj ET Q q 0 0 0 rg BT 334.30 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 345.02 466.10 Td (insurers, ) Tj ET Q q 0 0 0 rg BT 381.58 466.10 Td (establish ) Tj ET Q q 0 0 0 rg BT 418.96 466.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 459.13 466.10 Td (for ) Tj ET Q q 0 0 0 rg BT 473.18 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 487.79 466.10 Td (types ) Tj ET Q q 0 0 0 rg BT 511.29 466.10 Td (and ) Tj ET Q q 0 0 0 rg BT 528.12 466.10 Td (amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.46 454.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 112.37 454.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 147.16 454.10 Td (may ) Tj ET Q q 0 0 0 rg BT 167.51 454.10 Td (hold ) Tj ET Q q 0 0 0 rg BT 188.42 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 205.99 454.10 Td (require ) Tj ET Q q 0 0 0 rg BT 237.44 454.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 279.46 454.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 309.25 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 326.82 454.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 358.84 454.10 Td (levels. ) Tj ET Q q 0 0 0 rg BT 387.11 454.10 Td (Additional ) Tj ET Q q 0 0 0 rg BT 433.01 454.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 488.35 454.10 Td (include ) Tj ET Q q 0 0 0 rg BT 520.91 454.10 Td (risk-based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 79.09 442.10 Td (\(RBC\) ) Tj ET Q q 0 0 0 rg BT 117.08 442.10 Td (rules, ) Tj ET Q q 0 0 0 rg BT 141.45 442.10 Td (thresholds ) Tj ET Q q 0 0 0 rg BT 185.00 442.10 Td (intended ) Tj ET Q q 0 0 0 rg BT 221.87 442.10 Td (to ) Tj ET Q q 0 0 0 rg BT 232.09 442.10 Td (enable ) Tj ET Q q 0 0 0 rg BT 260.62 442.10 Td (state ) Tj ET Q q 0 0 0 rg BT 281.39 442.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 322.14 442.10 Td (regulators ) Tj ET Q q 0 0 0 rg BT 364.57 442.10 Td (to ) Tj ET Q q 0 0 0 rg BT 374.78 442.10 Td (assess ) Tj ET Q q 0 0 0 rg BT 401.67 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.32 442.10 Td (level ) Tj ET Q q 0 0 0 rg BT 438.19 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 448.96 442.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 466.40 442.10 Td (inherent ) Tj ET Q q 0 0 0 rg BT 501.60 442.10 Td (in ) Tj ET Q q 0 0 0 rg BT 511.82 442.10 Td (an ) Tj ET Q q 0 0 0 rg BT 523.70 442.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (company) Tj ET Q q 0 0 0 rg BT 89.43 430.10 Td (s ) Tj ET Q q 0 0 0 rg BT 96.33 430.10 Td (business ) Tj ET Q q 0 0 0 rg BT 133.23 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 150.67 430.10 Td (consider ) Tj ET Q q 0 0 0 rg BT 187.55 430.10 Td (items ) Tj ET Q q 0 0 0 rg BT 212.22 430.10 Td (such ) Tj ET Q q 0 0 0 rg BT 233.56 430.10 Td (as ) Tj ET Q q 0 0 0 rg BT 244.90 430.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 267.34 430.10 Td (risk, ) Tj ET Q q 0 0 0 rg BT 287.84 430.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 313.61 430.10 Td (risk, ) Tj ET Q q 0 0 0 rg BT 334.12 430.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 388.78 430.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 406.78 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 424.23 430.10 Td (other ) Tj ET Q q 0 0 0 rg BT 447.78 430.10 Td (business ) Tj ET Q q 0 0 0 rg BT 484.68 430.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 506.57 430.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 541.78 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 552.57 430.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 96.73 418.10 Td (In ) Tj ET Q q 0 0 0 rg BT 107.64 418.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 155.18 418.10 Td (with ) Tj ET Q q 0 0 0 rg BT 175.54 418.10 Td (RBC ) Tj ET Q q 0 0 0 rg BT 198.13 418.10 Td (formulas, ) Tj ET Q q 0 0 0 rg BT 238.75 418.10 Td (a ) Tj ET Q q 0 0 0 rg BT 245.77 418.10 Td (company) Tj ET Q q 0 0 0 rg BT 285.20 418.10 Td (s ) Tj ET Q q 0 0 0 rg BT 291.67 418.10 Td (RBC ) Tj ET Q q 0 0 0 rg BT 314.26 418.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 369.04 418.10 Td (are ) Tj ET Q q 0 0 0 rg BT 383.82 418.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 426.93 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 443.95 418.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 485.95 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 496.30 418.10 Td (its ) Tj ET Q q 0 0 0 rg BT 508.33 418.10 Td (total ) Tj ET Q q 0 0 0 rg BT 528.68 418.10 Td (adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 78.90 406.10 Td (to ) Tj ET Q q 0 0 0 rg BT 88.93 406.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 131.15 406.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 165.61 406.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 208.95 406.10 Td (intervention ) Tj ET Q q 0 0 0 rg BT 259.52 406.10 Td (is ) Tj ET Q q 0 0 0 rg BT 268.44 406.10 Td (warranted. ) Tj ET Q q 0 0 0 rg BT 312.67 406.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.92 406.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 383.25 406.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.25 406.10 Td (, ) Tj ET Q q 0 0 0 rg BT 408.00 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 422.46 406.10 Td (total ) Tj ET Q q 0 0 0 rg BT 442.48 406.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 478.06 406.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 506.96 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 517.54 406.10 Td (each ) Tj ET Q q 0 0 0 rg BT 538.10 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 548.68 406.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 90.82 394.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 140.53 394.10 Td (exceeded ) Tj ET Q q 0 0 0 rg BT 180.22 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.94 394.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 236.33 394.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 262.16 394.10 Td (required ) Tj ET Q q 0 0 0 rg BT 297.97 394.10 Td (under ) Tj ET Q q 0 0 0 rg BT 323.24 394.10 Td (RBC ) Tj ET Q q 0 0 0 rg BT 345.75 394.10 Td (requirements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (It ) Tj ET Q q 0 0 0 rg BT 58.23 370.10 Td (is ) Tj ET Q q 0 0 0 rg BT 67.01 370.10 Td (dif) Tj ET Q q 0 0 0 rg BT 77.94 370.10 Td (ficult ) Tj ET Q q 0 0 0 rg BT 101.16 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 111.05 370.10 Td (predict ) Tj ET Q q 0 0 0 rg BT 140.94 370.10 Td (what ) Tj ET Q q 0 0 0 rg BT 162.49 370.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 195.70 370.10 Td (measures ) Tj ET Q q 0 0 0 rg BT 235.02 370.10 Td (at ) Tj ET Q q 0 0 0 rg BT 244.36 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 258.69 370.10 Td (state ) Tj ET Q q 0 0 0 rg BT 279.13 370.10 Td (or ) Tj ET Q q 0 0 0 rg BT 289.58 370.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 319.45 370.10 Td (level ) Tj ET Q q 0 0 0 rg BT 341.00 370.10 Td (will ) Tj ET Q q 0 0 0 rg BT 358.67 370.10 Td (be ) Tj ET Q q 0 0 0 rg BT 370.23 370.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 404.00 370.10 Td (or ) Tj ET Q q 0 0 0 rg BT 414.45 370.10 Td (what ) Tj ET Q q 0 0 0 rg BT 436.00 370.10 Td (ef) Tj ET Q q 0 0 0 rg BT 443.59 370.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 460.69 370.10 Td (any ) Tj ET Q q 0 0 0 rg BT 477.25 370.10 Td (such ) Tj ET Q q 0 0 0 rg BT 497.70 370.10 Td (measures ) Tj ET Q q 0 0 0 rg BT 537.02 370.10 Td (would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (have ) Tj ET Q q 0 0 0 rg BT 71.38 358.10 Td (on ) Tj ET Q q 0 0 0 rg BT 83.88 358.10 Td (us ) Tj ET Q q 0 0 0 rg BT 95.27 358.10 Td (or ) Tj ET Q q 0 0 0 rg BT 106.10 358.10 Td (our ) Tj ET Q q 0 0 0 rg BT 121.93 358.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 162.74 358.10 Td (subsidiaries. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Employees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.01 310.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.24 310.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 131.23 310.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.23 310.10 Td (, ) Tj ET Q q 0 0 0 rg BT 155.63 310.10 Td (we ) Tj ET Q q 0 0 0 rg BT 169.18 310.10 Td (had ) Tj ET Q q 0 0 0 rg BT 185.52 310.10 Td (1) Tj ET Q q 0 0 0 rg BT 190.15 310.10 Td (18 ) Tj ET Q q 0 0 0 rg BT 202.05 310.10 Td (full-time ) Tj ET Q q 0 0 0 rg BT 238.94 310.10 Td (employees, ) Tj ET Q q 0 0 0 rg BT 286.10 310.10 Td (101 ) Tj ET Q q 0 0 0 rg BT 303.00 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 313.23 310.10 Td (whom ) Tj ET Q q 0 0 0 rg BT 340.13 310.10 Td (work ) Tj ET Q q 0 0 0 rg BT 362.58 310.10 Td (at ) Tj ET Q q 0 0 0 rg BT 371.70 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 385.82 310.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 425.47 310.10 Td (headquarters ) Tj ET Q q 0 0 0 rg BT 478.45 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 488.13 310.10 Td (Elk ) Tj ET Q q 0 0 0 rg BT 503.92 310.10 Td (Grove ) Tj ET Q q 0 0 0 rg BT 530.67 310.10 Td (V) Tj ET Q q 0 0 0 rg BT 537.29 310.10 Td (illage, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (Illinois, ) Tj ET Q q 0 0 0 rg BT 83.47 298.10 Td (10 ) Tj ET Q q 0 0 0 rg BT 96.10 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.06 298.10 Td (whom ) Tj ET Q q 0 0 0 rg BT 134.70 298.10 Td (work ) Tj ET Q q 0 0 0 rg BT 157.88 298.10 Td (in ) Tj ET Q q 0 0 0 rg BT 168.29 298.10 Td (St. ) Tj ET Q q 0 0 0 rg BT 181.77 298.10 Td (Louis, ) Tj ET Q q 0 0 0 rg BT 209.68 298.10 Td (5 ) Tj ET Q q 0 0 0 rg BT 217.31 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 228.28 298.10 Td (whom ) Tj ET Q q 0 0 0 rg BT 255.91 298.10 Td (work ) Tj ET Q q 0 0 0 rg BT 279.09 298.10 Td (in ) Tj ET Q q 0 0 0 rg BT 289.51 298.10 Td (New ) Tj ET Q q 0 0 0 rg BT 310.63 298.10 Td (Y) Tj ET Q q 0 0 0 rg BT 316.85 298.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 332.81 298.10 Td (and ) Tj ET Q q 0 0 0 rg BT 349.89 298.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 357.52 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 368.48 298.10 Td (whom ) Tj ET Q q 0 0 0 rg BT 396.12 298.10 Td (work ) Tj ET Q q 0 0 0 rg BT 419.30 298.10 Td (remotely) Tj ET Q q 0 0 0 rg BT 454.19 298.10 Td (. ) Tj ET Q q 0 0 0 rg BT 459.14 298.10 Td (The ) Tj ET Q q 0 0 0 rg BT 477.32 298.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 523.83 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 534.80 298.10 Td (Global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 81.93 286.10 Td (will ) Tj ET Q q 0 0 0 rg BT 99.99 286.10 Td (add ) Tj ET Q q 0 0 0 rg BT 116.93 286.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 177.19 286.10 Td (65 ) Tj ET Q q 0 0 0 rg BT 189.69 286.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 232.18 286.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 277.44 286.10 Td (to ) Tj ET Q q 0 0 0 rg BT 287.72 286.10 Td (our ) Tj ET Q q 0 0 0 rg BT 303.55 286.10 Td (or) Tj ET Q q 0 0 0 rg BT 311.70 286.10 Td (ganization.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (Item 1A. RISK F) Tj ET Q q 0 0 0 rg BT 122.03 262.10 Td (ACT) Tj ET Q q 0 0 0 rg BT 142.96 262.10 Td (ORS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (Y) Tj ET Q q 0 0 0 rg BT 54.64 238.10 Td (ou ) Tj ET Q q 0 0 0 rg BT 66.19 238.10 Td (should ) Tj ET Q q 0 0 0 rg BT 94.41 238.10 Td (r) Tj ET Q q 0 0 0 rg BT 97.93 238.10 Td (ead ) Tj ET Q q 0 0 0 rg BT 113.91 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 127.68 238.10 Td (following ) Tj ET Q q 0 0 0 rg BT 167.01 238.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 183.55 238.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 212.88 238.10 Td (car) Tj ET Q q 0 0 0 rg BT 225.84 238.10 Td (efully ) Tj ET Q q 0 0 0 rg BT 249.60 238.10 Td (in ) Tj ET Q q 0 0 0 rg BT 258.92 238.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 304.34 238.10 Td (with ) Tj ET Q q 0 0 0 rg BT 323.11 238.10 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 366.87 238.10 Td (our ) Tj ET Q q 0 0 0 rg BT 382.31 238.10 Td (business ) Tj ET Q q 0 0 0 rg BT 417.75 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 434.30 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.06 238.10 Td (forwar) Tj ET Q q 0 0 0 rg BT 474.92 238.10 Td (d-looking ) Tj ET Q q 0 0 0 rg BT 514.79 238.10 Td (information ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (contained ) Tj ET Q q 0 0 0 rg BT 92.52 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 103.38 226.10 Td (this ) Tj ET Q q 0 0 0 rg BT 120.69 226.10 Td (Annual ) Tj ET Q q 0 0 0 rg BT 152.66 226.10 Td (Report ) Tj ET Q q 0 0 0 rg BT 182.97 226.10 Td (on ) Tj ET Q q 0 0 0 rg BT 196.05 226.10 Td (Form ) Tj ET Q q 0 0 0 rg BT 221.36 226.10 Td (10-K. ) Tj ET Q q 0 0 0 rg BT 246.72 226.10 Td (Any ) Tj ET Q q 0 0 0 rg BT 265.35 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 276.21 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 291.52 226.10 Td (following ) Tj ET Q q 0 0 0 rg BT 332.38 226.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 354.36 226.10 Td (could ) Tj ET Q q 0 0 0 rg BT 379.66 226.10 Td (materially ) Tj ET Q q 0 0 0 rg BT 423.85 226.10 Td (and ) Tj ET Q q 0 0 0 rg BT 441.94 226.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 483.34 226.10 Td (affect ) Tj ET Q q 0 0 0 rg BT 508.63 226.10 Td (our ) Tj ET Q q 0 0 0 rg BT 525.61 226.10 Td (business, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 91.24 214.10 Td (r) Tj ET Q q 0 0 0 rg BT 94.76 214.10 Td (esults, ) Tj ET Q q 0 0 0 rg BT 122.39 214.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 160.29 214.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 200.42 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 217.77 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 232.33 214.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 259.68 214.10 Td (outcome ) Tj ET Q q 0 0 0 rg BT 295.91 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.04 214.10 Td (matters ) Tj ET Q q 0 0 0 rg BT 338.39 214.10 Td (as ) Tj ET Q q 0 0 0 rg BT 349.63 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 359.76 214.10 Td (which ) Tj ET Q q 0 0 0 rg BT 386.00 214.10 Td (forwar) Tj ET Q q 0 0 0 rg BT 412.86 214.10 Td (d-looking ) Tj ET Q q 0 0 0 rg BT 453.54 214.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 498.10 214.10 Td (ar) Tj ET Q q 0 0 0 rg BT 506.62 214.10 Td (e ) Tj ET Q q 0 0 0 rg BT 513.41 214.10 Td (made ) Tj ET Q q 0 0 0 rg BT 537.42 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 547.55 214.10 Td (this ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (Annual ) Tj ET Q q 0 0 0 rg BT 80.88 202.10 Td (Report ) Tj ET Q q 0 0 0 rg BT 110.09 202.10 Td (on ) Tj ET Q q 0 0 0 rg BT 122.09 202.10 Td (Form ) Tj ET Q q 0 0 0 rg BT 146.30 202.10 Td (10-K. ) Tj ET Q q 0 0 0 rg BT 170.80 202.10 Td (While ) Tj ET Q q 0 0 0 rg BT 196.12 202.10 Td (we ) Tj ET Q q 0 0 0 rg BT 209.22 202.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 239.53 202.10 Td (we ) Tj ET Q q 0 0 0 rg BT 252.63 202.10 Td (have ) Tj ET Q q 0 0 0 rg BT 273.50 202.10 Td (identified ) Tj ET Q q 0 0 0 rg BT 313.26 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 330.26 202.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 370.58 202.10 Td (below ) Tj ET Q q 0 0 0 rg BT 396.46 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 410.68 202.10 Td (key ) Tj ET Q q 0 0 0 rg BT 425.99 202.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 442.98 202.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 472.75 202.10 Td (affecting ) Tj ET Q q 0 0 0 rg BT 509.74 202.10 Td (our ) Tj ET Q q 0 0 0 rg BT 525.63 202.10 Td (business, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (ther) Tj ET Q q 0 0 0 rg BT 65.74 190.10 Td (e ) Tj ET Q q 0 0 0 rg BT 72.96 190.10 Td (may ) Tj ET Q q 0 0 0 rg BT 92.40 190.10 Td (be ) Tj ET Q q 0 0 0 rg BT 104.62 190.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 148.51 190.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 170.18 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 187.96 190.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 242.96 190.10 Td (that ) Tj ET Q q 0 0 0 rg BT 261.29 190.10 Td (ar) Tj ET Q q 0 0 0 rg BT 269.81 190.10 Td (e ) Tj ET Q q 0 0 0 rg BT 277.03 190.10 Td (not ) Tj ET Q q 0 0 0 rg BT 292.59 190.10 Td (pr) Tj ET Q q 0 0 0 rg BT 301.11 190.10 Td (esently ) Tj ET Q q 0 0 0 rg BT 331.66 190.10 Td (known ) Tj ET Q q 0 0 0 rg BT 360.55 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 372.22 190.10 Td (that ) Tj ET Q q 0 0 0 rg BT 390.56 190.10 Td (ar) Tj ET Q q 0 0 0 rg BT 399.08 190.10 Td (e ) Tj ET Q q 0 0 0 rg BT 406.30 190.10 Td (not ) Tj ET Q q 0 0 0 rg BT 421.86 190.10 Td (curr) Tj ET Q q 0 0 0 rg BT 438.71 190.10 Td (ently ) Tj ET Q q 0 0 0 rg BT 460.92 190.10 Td (believed ) Tj ET Q q 0 0 0 rg BT 497.01 190.10 Td (to ) Tj ET Q q 0 0 0 rg BT 507.57 190.10 Td (be ) Tj ET Q q 0 0 0 rg BT 519.79 190.10 Td (significant ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (that ) Tj ET Q q 0 0 0 rg BT 68.06 178.10 Td (may ) Tj ET Q q 0 0 0 rg BT 87.22 178.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 128.03 178.10 Td (affect ) Tj ET Q q 0 0 0 rg BT 152.74 178.10 Td (our ) Tj ET Q q 0 0 0 rg BT 169.14 178.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 208.03 178.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 249.41 178.10 Td (r) Tj ET Q q 0 0 0 rg BT 252.93 178.10 Td (esults ) Tj ET Q q 0 0 0 rg BT 278.21 178.10 Td (or ) Tj ET Q q 0 0 0 rg BT 289.60 178.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 327.66 178.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 367.93 178.10 Td (in ) Tj ET Q q 0 0 0 rg BT 378.21 178.10 Td (the ) Tj ET Q q 0 0 0 rg BT 392.92 178.10 Td (futur) Tj ET Q q 0 0 0 rg BT 412.00 178.10 Td (e.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (The ) Tj ET Q q 0 0 0 rg BT 69.27 154.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 113.55 154.10 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 165.04 154.10 Td ( ) Tj ET Q q 0 0 0 rg BT 168.20 154.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 213.58 154.10 Td (for ) Tj ET Q q 0 0 0 rg BT 228.96 154.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 261.02 154.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 290.85 154.10 Td (may ) Tj ET Q q 0 0 0 rg BT 311.22 154.10 Td (be ) Tj ET Q q 0 0 0 rg BT 323.82 154.10 Td (inadequate, ) Tj ET Q q 0 0 0 rg BT 375.03 154.10 Td (which ) Tj ET Q q 0 0 0 rg BT 403.20 154.10 Td (would ) Tj ET Q q 0 0 0 rg BT 431.37 154.10 Td (result ) Tj ET Q q 0 0 0 rg BT 457.87 154.10 Td (in ) Tj ET Q q 0 0 0 rg BT 469.37 154.10 Td (a ) Tj ET Q q 0 0 0 rg BT 477.52 154.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 520.13 154.10 Td (in ) Tj ET Q q 0 0 0 rg BT 531.63 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 549.24 154.10 Td (net ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (income ) Tj ET Q q 0 0 0 rg BT 82.50 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 100.56 142.10 Td (might ) Tj ET Q q 0 0 0 rg BT 126.95 142.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 167.77 142.10 Td (af) Tj ET Q q 0 0 0 rg BT 175.92 142.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 193.40 142.10 Td (our ) Tj ET Q q 0 0 0 rg BT 210.36 142.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 250.08 142.10 Td (condition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.83 118.10 Td (success ) Tj ET Q q 0 0 0 rg BT 100.10 118.10 Td (depends ) Tj ET Q q 0 0 0 rg BT 135.14 118.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 157.42 118.10 Td (our ) Tj ET Q q 0 0 0 rg BT 173.02 118.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 200.85 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 210.91 118.10 Td (accurately ) Tj ET Q q 0 0 0 rg BT 254.26 118.10 Td (assess ) Tj ET Q q 0 0 0 rg BT 280.98 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 297.70 118.10 Td (price ) Tj ET Q q 0 0 0 rg BT 319.96 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 334.46 118.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 355.62 118.10 Td (covered ) Tj ET Q q 0 0 0 rg BT 389.55 118.10 Td (by ) Tj ET Q q 0 0 0 rg BT 401.82 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.32 118.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 456.91 118.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 490.29 118.10 Td (that ) Tj ET Q q 0 0 0 rg BT 507.56 118.10 Td (we ) Tj ET Q q 0 0 0 rg BT 521.50 118.10 Td (write. ) Tj ET Q q 0 0 0 rg BT 546.82 118.10 Td ( ) Tj ET Q q 0 0 0 rg BT 548.94 118.10 Td (W) Tj ET Q q 0 0 0 rg BT 557.57 118.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (establish ) Tj ET Q q 0 0 0 rg BT 87.68 106.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 123.13 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 133.59 106.10 Td (cover ) Tj ET Q q 0 0 0 rg BT 158.49 106.10 Td (our ) Tj ET Q q 0 0 0 rg BT 174.50 106.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 215.51 106.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 249.31 106.10 Td (for ) Tj ET Q q 0 0 0 rg BT 263.65 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 278.56 106.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 315.68 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.70 106.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 353.27 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 370.40 106.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 409.19 106.10 Td (related ) Tj ET Q q 0 0 0 rg BT 439.07 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 449.54 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 464.44 106.10 Td (administration ) Tj ET Q q 0 0 0 rg BT 524.90 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 535.92 106.10 Td (claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 85.71 94.10 Td (on ) Tj ET Q q 0 0 0 rg BT 98.11 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 112.72 94.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 153.43 94.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 186.93 94.10 Td (we ) Tj ET Q q 0 0 0 rg BT 200.98 94.10 Td (write. ) Tj ET Q q 0 0 0 rg BT 226.42 94.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.82 94.10 Td (Establishing ) Tj ET Q q 0 0 0 rg BT 280.66 94.10 Td (an ) Tj ET Q q 0 0 0 rg BT 292.49 94.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 340.42 94.10 Td (level ) Tj ET Q q 0 0 0 rg BT 362.25 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 372.97 94.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 408.13 94.10 Td (is ) Tj ET Q q 0 0 0 rg BT 417.19 94.10 Td (an ) Tj ET Q q 0 0 0 rg BT 429.02 94.10 Td (inherently ) Tj ET Q q 0 0 0 rg BT 471.96 94.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 511.56 94.10 Td (process. ) Tj ET Q q 0 0 0 rg BT 546.44 94.10 Td (Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 94.84 82.10 Td (for ) Tj ET Q q 0 0 0 rg BT 109.66 82.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 140.04 82.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 169.31 82.10 Td (do ) Tj ET Q q 0 0 0 rg BT 182.48 82.10 Td (not ) Tj ET Q q 0 0 0 rg BT 198.42 82.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 238.23 82.10 Td (an ) Tj ET Q q 0 0 0 rg BT 250.84 82.10 Td (exact ) Tj ET Q q 0 0 0 rg BT 275.10 82.10 Td (calculation ) Tj ET Q q 0 0 0 rg BT 322.13 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 333.62 82.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 360.66 82.10 Td (liability) Tj ET Q q 0 0 0 rg BT 391.12 82.10 Td (, ) Tj ET Q q 0 0 0 rg BT 396.79 82.10 Td (but ) Tj ET Q q 0 0 0 rg BT 412.73 82.10 Td (are ) Tj ET Q q 0 0 0 rg BT 428.10 82.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 468.48 82.10 Td (involving ) Tj ET Q q 0 0 0 rg BT 509.98 82.10 Td (actuarial ) Tj ET Q q 0 0 0 rg BT 547.57 82.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (statistical ) Tj ET Q q 0 0 0 rg BT 90.67 70.10 Td (projections ) Tj ET Q q 0 0 0 rg BT 138.00 70.10 Td (at ) Tj ET Q q 0 0 0 rg BT 148.12 70.10 Td (a ) Tj ET Q q 0 0 0 rg BT 155.46 70.10 Td (given ) Tj ET Q q 0 0 0 rg BT 180.58 70.10 Td (point ) Tj ET Q q 0 0 0 rg BT 204.03 70.10 Td (in ) Tj ET Q q 0 0 0 rg BT 214.71 70.10 Td (time ) Tj ET Q q 0 0 0 rg BT 235.39 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 246.62 70.10 Td (what ) Tj ET Q q 0 0 0 rg BT 268.96 70.10 Td (we ) Tj ET Q q 0 0 0 rg BT 283.52 70.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 312.51 70.10 Td (to ) Tj ET Q q 0 0 0 rg BT 323.19 70.10 Td (be ) Tj ET Q q 0 0 0 rg BT 335.53 70.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.64 70.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 369.65 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 380.88 70.10 Td (the ) Tj ET Q q 0 0 0 rg BT 396.00 70.10 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 431.67 70.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 475.67 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 493.01 70.10 Td (administration ) Tj ET Q q 0 0 0 rg BT 553.68 70.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (known ) Tj ET Q q 0 0 0 rg BT 79.30 58.10 Td (and ) Tj ET Q q 0 0 0 rg BT 95.82 58.10 Td (unknown ) Tj ET Q q 0 0 0 rg BT 135.12 58.10 Td (claims. ) Tj ET Q q 0 0 0 rg BT 165.65 58.10 Td (The ) Tj ET Q q 0 0 0 rg BT 183.28 58.10 Td (process ) Tj ET Q q 0 0 0 rg BT 215.35 58.10 Td (for ) Tj ET Q q 0 0 0 rg BT 229.09 58.10 Td (establishing ) Tj ET Q q 0 0 0 rg BT 278.94 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 293.23 58.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 333.09 58.10 Td (for ) Tj ET Q q 0 0 0 rg BT 346.83 58.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 376.13 58.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 404.31 58.10 Td (reflects ) Tj ET Q q 0 0 0 rg BT 435.81 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 450.11 58.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 503.28 58.10 Td (and ) Tj ET Q q 0 0 0 rg BT 519.79 58.10 Td (significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (judgmental ) Tj ET Q q 0 0 0 rg BT 97.28 46.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 126.78 46.10 Td (inherent ) Tj ET Q q 0 0 0 rg BT 161.83 46.10 Td (in ) Tj ET Q q 0 0 0 rg BT 171.90 46.10 Td (estimating ) Tj ET Q q 0 0 0 rg BT 215.85 46.10 Td (future ) Tj ET Q q 0 0 0 rg BT 242.02 46.10 Td (results ) Tj ET Q q 0 0 0 rg BT 270.42 46.10 Td (of ) Tj ET Q q 0 0 0 rg BT 281.04 46.10 Td (both ) Tj ET Q q 0 0 0 rg BT 301.10 46.10 Td (known ) Tj ET Q q 0 0 0 rg BT 330.62 46.10 Td (and ) Tj ET Q q 0 0 0 rg BT 347.34 46.10 Td (unknown ) Tj ET Q q 0 0 0 rg BT 386.86 46.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 415.25 46.10 Td (and ) Tj ET Q q 0 0 0 rg BT 431.98 46.10 Td (as ) Tj ET Q q 0 0 0 rg BT 442.60 46.10 Td (such, ) Tj ET Q q 0 0 0 rg BT 465.72 46.10 Td (the ) Tj ET Q q 0 0 0 rg BT 480.22 46.10 Td (process ) Tj ET Q q 0 0 0 rg BT 512.50 46.10 Td (is ) Tj ET Q q 0 0 0 rg BT 521.46 46.10 Td (inherently ) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 31.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (complex ) Tj ET Q q 0 0 0 rg BT 87.41 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 104.82 742.10 Td (imprecise. ) Tj ET Q q 0 0 0 rg BT 148.95 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 157.59 742.10 Td (e ) Tj ET Q q 0 0 0 rg BT 165.01 742.10 Td (utilize ) Tj ET Q q 0 0 0 rg BT 192.97 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 200.38 742.10 Td (third ) Tj ET Q q 0 0 0 rg BT 222.25 742.10 Td (party ) Tj ET Q q 0 0 0 rg BT 245.77 742.10 Td (actuarial ) Tj ET Q q 0 0 0 rg BT 283.16 742.10 Td (firm ) Tj ET Q q 0 0 0 rg BT 303.35 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 314.11 742.10 Td (assist ) Tj ET Q q 0 0 0 rg BT 338.75 742.10 Td (us ) Tj ET Q q 0 0 0 rg BT 350.62 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 361.37 742.10 Td (estimating ) Tj ET Q q 0 0 0 rg BT 406.01 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 421.20 742.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 461.95 742.10 Td (for ) Tj ET Q q 0 0 0 rg BT 476.59 742.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 506.78 742.10 Td (claims. ) Tj ET Q q 0 0 0 rg BT 538.14 742.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 89.71 730.10 Td (are ) Tj ET Q q 0 0 0 rg BT 104.42 730.10 Td (based ) Tj ET Q q 0 0 0 rg BT 129.69 730.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 152.19 730.10 Td (various ) Tj ET Q q 0 0 0 rg BT 184.13 730.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 216.33 730.10 Td (including:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 706.10 Td (actuarial ) Tj ET Q q 0 0 0 rg BT 159.39 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 176.80 706.10 Td (statistical ) Tj ET Q q 0 0 0 rg BT 217.54 706.10 Td (projections ) Tj ET Q q 0 0 0 rg BT 264.95 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 276.25 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 291.44 706.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 310.52 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 321.83 706.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 365.90 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 383.31 706.10 Td (administration ) Tj ET Q q 0 0 0 rg BT 444.05 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 455.35 706.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 484.43 706.10 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 525.71 706.10 Td (facts ) Tj ET Q q 0 0 0 rg BT 547.56 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 564.50 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 694.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 181.14 694.10 Td (then ) Tj ET Q q 0 0 0 rg BT 200.86 694.10 Td (known;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 682.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 682.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 161.71 682.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 190.32 682.10 Td (information;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 670.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 670.10 Td (assessments ) Tj ET Q q 0 0 0 rg BT 172.83 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.66 670.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 222.25 670.10 Td (available ) Tj ET Q q 0 0 0 rg BT 260.84 670.10 Td (data;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 658.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 161.71 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 172.54 658.10 Td (future ) Tj ET Q q 0 0 0 rg BT 198.92 658.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 225.86 658.10 Td (in ) Tj ET Q q 0 0 0 rg BT 236.14 658.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 264.74 658.10 Td (severity ) Tj ET Q q 0 0 0 rg BT 298.89 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 315.83 658.10 Td (frequency;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 646.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 646.10 Td (judicial ) Tj ET Q q 0 0 0 rg BT 154.49 646.10 Td (theories ) Tj ET Q q 0 0 0 rg BT 188.65 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 199.48 646.10 Td (liability;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 634.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 163.37 634.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 193.08 634.10 Td (such ) Tj ET Q q 0 0 0 rg BT 213.91 634.10 Td (as ) Tj ET Q q 0 0 0 rg BT 224.74 634.10 Td (inflation;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 622.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 162.22 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 179.66 622.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 232.11 622.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 273.43 622.10 Td (judicial ) Tj ET Q q 0 0 0 rg BT 306.43 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 323.87 622.10 Td (legislative ) Tj ET Q q 0 0 0 rg BT 367.97 622.10 Td (trends, ) Tj ET Q q 0 0 0 rg BT 397.92 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 415.36 622.10 Td (actions ) Tj ET Q q 0 0 0 rg BT 446.69 622.10 Td (such ) Tj ET Q q 0 0 0 rg BT 468.02 622.10 Td (as ) Tj ET Q q 0 0 0 rg BT 479.36 622.10 Td (class ) Tj ET Q q 0 0 0 rg BT 501.80 622.10 Td (action ) Tj ET Q q 0 0 0 rg BT 529.24 622.10 Td (lawsuits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 138.94 610.10 Td (judicial ) Tj ET Q q 0 0 0 rg BT 171.43 610.10 Td (interpretation ) Tj ET Q q 0 0 0 rg BT 227.80 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.63 610.10 Td (coverages ) Tj ET Q q 0 0 0 rg BT 281.10 610.10 Td (or ) Tj ET Q q 0 0 0 rg BT 291.93 610.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 319.43 610.10 Td (exclusions; ) Tj ET Q q 0 0 0 rg BT 366.92 610.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 136.72 598.10 Td (level ) Tj ET Q q 0 0 0 rg BT 158.65 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 169.48 598.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 210.30 598.10 Td (fraud.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Most ) Tj ET Q q 0 0 0 rg BT 72.55 574.10 Td (or ) Tj ET Q q 0 0 0 rg BT 82.88 574.10 Td (all ) Tj ET Q q 0 0 0 rg BT 94.86 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 105.19 574.10 Td (these ) Tj ET Q q 0 0 0 rg BT 127.72 574.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 156.92 574.10 Td (are ) Tj ET Q q 0 0 0 rg BT 171.12 574.10 Td (not ) Tj ET Q q 0 0 0 rg BT 185.89 574.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 218.43 574.10 Td (quantifiable, ) Tj ET Q q 0 0 0 rg BT 270.68 574.10 Td (particularly ) Tj ET Q q 0 0 0 rg BT 318.76 574.10 Td (on ) Tj ET Q q 0 0 0 rg BT 330.75 574.10 Td (a ) Tj ET Q q 0 0 0 rg BT 337.18 574.10 Td (prospective ) Tj ET Q q 0 0 0 rg BT 385.27 574.10 Td (basis, ) Tj ET Q q 0 0 0 rg BT 409.76 574.10 Td (and ) Tj ET Q q 0 0 0 rg BT 426.19 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 440.40 574.10 Td (ef) Tj ET Q q 0 0 0 rg BT 447.99 574.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 468.86 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 479.18 574.10 Td (these ) Tj ET Q q 0 0 0 rg BT 501.72 574.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.15 574.10 Td (unforeseen ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 80.01 562.10 Td (could ) Tj ET Q q 0 0 0 rg BT 105.03 562.10 Td (negatively ) Tj ET Q q 0 0 0 rg BT 149.48 562.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 179.49 562.10 Td (our ) Tj ET Q q 0 0 0 rg BT 195.63 562.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 223.98 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 234.56 562.10 Td (accurately ) Tj ET Q q 0 0 0 rg BT 278.44 562.10 Td (assess ) Tj ET Q q 0 0 0 rg BT 305.68 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 320.70 562.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 342.40 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 353.53 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 368.55 562.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 402.45 562.10 Td (that ) Tj ET Q q 0 0 0 rg BT 420.25 562.10 Td (we ) Tj ET Q q 0 0 0 rg BT 434.71 562.10 Td (write. ) Tj ET Q q 0 0 0 rg BT 460.56 562.10 Td (In ) Tj ET Q q 0 0 0 rg BT 471.69 562.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 509.77 562.10 Td (there ) Tj ET Q q 0 0 0 rg BT 532.55 562.10 Td (may ) Tj ET Q q 0 0 0 rg BT 552.57 562.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 93.75 550.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 131.93 550.10 Td (lags ) Tj ET Q q 0 0 0 rg BT 149.58 550.10 Td (between ) Tj ET Q q 0 0 0 rg BT 184.42 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 198.17 550.10 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 243.56 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 253.42 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 267.17 550.10 Td (insured ) Tj ET Q q 0 0 0 rg BT 298.14 550.10 Td (event ) Tj ET Q q 0 0 0 rg BT 321.33 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 337.30 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 351.05 550.10 Td (time ) Tj ET Q q 0 0 0 rg BT 370.36 550.10 Td (it ) Tj ET Q q 0 0 0 rg BT 377.45 550.10 Td (is ) Tj ET Q q 0 0 0 rg BT 385.65 550.10 Td (actually ) Tj ET Q q 0 0 0 rg BT 418.84 550.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 453.69 550.10 Td (to ) Tj ET Q q 0 0 0 rg BT 463.00 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 476.75 550.10 Td (insurer ) Tj ET Q q 0 0 0 rg BT 506.05 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 522.02 550.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (lags ) Tj ET Q q 0 0 0 rg BT 68.87 538.10 Td (between ) Tj ET Q q 0 0 0 rg BT 104.95 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.92 538.10 Td (time ) Tj ET Q q 0 0 0 rg BT 140.46 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 151.55 538.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 190.97 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 208.17 538.10 Td (final ) Tj ET Q q 0 0 0 rg BT 229.25 538.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 273.11 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 284.20 538.10 Td (claims. ) Tj ET Q q 0 0 0 rg BT 315.57 538.10 Td (Unfavorable ) Tj ET Q q 0 0 0 rg BT 368.31 538.10 Td (development ) Tj ET Q q 0 0 0 rg BT 422.72 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 433.26 538.10 Td (any ) Tj ET Q q 0 0 0 rg BT 450.46 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 461.55 538.10 Td (these ) Tj ET Q q 0 0 0 rg BT 484.86 538.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 514.82 538.10 Td (could ) Tj ET Q q 0 0 0 rg BT 539.80 538.10 Td (cause ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 526.10 Td (level ) Tj ET Q q 0 0 0 rg BT 86.65 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 97.48 526.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 132.74 526.10 Td (to ) Tj ET Q q 0 0 0 rg BT 143.02 526.10 Td (be ) Tj ET Q q 0 0 0 rg BT 154.96 526.10 Td (inadequate. ) Tj ET Q q 0 0 0 rg BT 203.09 526.10 Td (The ) Tj ET Q q 0 0 0 rg BT 221.13 526.10 Td (following ) Tj ET Q q 0 0 0 rg BT 262.52 526.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 292.23 526.10 Td (may ) Tj ET Q q 0 0 0 rg BT 311.94 526.10 Td (have ) Tj ET Q q 0 0 0 rg BT 333.32 526.10 Td (a ) Tj ET Q q 0 0 0 rg BT 340.26 526.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 385.53 526.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 415.24 526.10 Td (on ) Tj ET Q q 0 0 0 rg BT 427.74 526.10 Td (future ) Tj ET Q q 0 0 0 rg BT 454.12 526.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 482.72 526.10 Td (incurred:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 139.22 502.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 175.60 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 186.43 502.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 215.04 502.10 Td (payments;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 139.22 490.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 177.82 490.10 Td (that ) Tj ET Q q 0 0 0 rg BT 195.31 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 210.03 490.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 250.84 490.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 300.56 490.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 323.61 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 333.88 490.10 Td (resolving ) Tj ET Q q 0 0 0 rg BT 373.60 490.10 Td (claims;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 478.10 Td (legislative ) Tj ET Q q 0 0 0 rg BT 168.10 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 185.04 478.10 Td (judicial ) Tj ET Q q 0 0 0 rg BT 217.53 478.10 Td (developments; ) Tj ET Q q 0 0 0 rg BT 278.35 478.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 466.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 466.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 159.21 466.10 Td (in ) Tj ET Q q 0 0 0 rg BT 169.49 466.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 210.86 466.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 257.52 466.10 Td (including ) Tj ET Q q 0 0 0 rg BT 297.80 466.10 Td (inflation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.29 442.10 Td (time ) Tj ET Q q 0 0 0 rg BT 83.24 442.10 Td (passes ) Tj ET Q q 0 0 0 rg BT 110.96 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 127.58 442.10 Td (more ) Tj ET Q q 0 0 0 rg BT 150.30 442.10 Td (information ) Tj ET Q q 0 0 0 rg BT 199.69 442.10 Td (about ) Tj ET Q q 0 0 0 rg BT 224.08 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 238.47 442.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 266.75 442.10 Td (becomes ) Tj ET Q q 0 0 0 rg BT 303.91 442.10 Td (known, ) Tj ET Q q 0 0 0 rg BT 335.81 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.20 442.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 389.59 442.10 Td (are ) Tj ET Q q 0 0 0 rg BT 403.97 442.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 439.47 442.10 Td (upward ) Tj ET Q q 0 0 0 rg BT 471.64 442.10 Td (or ) Tj ET Q q 0 0 0 rg BT 482.14 442.10 Td (downward ) Tj ET Q q 0 0 0 rg BT 526.53 442.10 Td (to ) Tj ET Q q 0 0 0 rg BT 536.48 442.10 Td (reflect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (this ) Tj ET Q q 0 0 0 rg BT 66.50 430.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 108.55 430.10 Td (information. ) Tj ET Q q 0 0 0 rg BT 160.31 430.10 Td (Because ) Tj ET Q q 0 0 0 rg BT 195.68 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 206.07 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 220.34 430.10 Td (elements ) Tj ET Q q 0 0 0 rg BT 257.94 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 268.32 430.10 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 315.36 430.10 Td (encompassed ) Tj ET Q q 0 0 0 rg BT 370.73 430.10 Td (in ) Tj ET Q q 0 0 0 rg BT 380.56 430.10 Td (this ) Tj ET Q q 0 0 0 rg BT 397.06 430.10 Td (estimation ) Tj ET Q q 0 0 0 rg BT 440.78 430.10 Td (process, ) Tj ET Q q 0 0 0 rg BT 475.32 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 491.82 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 506.09 430.10 Td (extended ) Tj ET Q q 0 0 0 rg BT 544.24 430.10 Td (time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (it ) Tj ET Q q 0 0 0 rg BT 56.95 418.10 Td (can ) Tj ET Q q 0 0 0 rg BT 72.21 418.10 Td (take ) Tj ET Q q 0 0 0 rg BT 90.26 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 99.42 418.10 Td (settle ) Tj ET Q q 0 0 0 rg BT 121.92 418.10 Td (many ) Tj ET Q q 0 0 0 rg BT 145.52 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 155.24 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.85 418.10 Td (more ) Tj ET Q q 0 0 0 rg BT 190.78 418.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 234.95 418.10 Td (claims, ) Tj ET Q q 0 0 0 rg BT 264.94 418.10 Td (several ) Tj ET Q q 0 0 0 rg BT 294.64 418.10 Td (years ) Tj ET Q q 0 0 0 rg BT 317.13 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.85 418.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 371.54 418.10 Td (may ) Tj ET Q q 0 0 0 rg BT 390.15 418.10 Td (be ) Tj ET Q q 0 0 0 rg BT 400.97 418.10 Td (required ) Tj ET Q q 0 0 0 rg BT 435.68 418.10 Td (before ) Tj ET Q q 0 0 0 rg BT 462.60 418.10 Td (a ) Tj ET Q q 0 0 0 rg BT 468.43 418.10 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 515.36 418.10 Td (comparison ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (can ) Tj ET Q q 0 0 0 rg BT 66.97 406.10 Td (be ) Tj ET Q q 0 0 0 rg BT 79.50 406.10 Td (made ) Tj ET Q q 0 0 0 rg BT 104.25 406.10 Td (between ) Tj ET Q q 0 0 0 rg BT 140.66 406.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 167.62 406.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 194.61 406.10 Td (and ) Tj ET Q q 0 0 0 rg BT 212.14 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 227.45 406.10 Td (original ) Tj ET Q q 0 0 0 rg BT 261.65 406.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 302.52 406.10 Td (for ) Tj ET Q q 0 0 0 rg BT 317.27 406.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 347.58 406.10 Td (claims. ) Tj ET Q q 0 0 0 rg BT 379.06 406.10 Td (The ) Tj ET Q q 0 0 0 rg BT 397.70 406.10 Td (development ) Tj ET Q q 0 0 0 rg BT 452.44 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 463.86 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.17 406.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 520.04 406.10 Td (for ) Tj ET Q q 0 0 0 rg BT 534.80 406.10 Td (unpaid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 79.39 394.10 Td (is ) Tj ET Q q 0 0 0 rg BT 89.35 394.10 Td (shown ) Tj ET Q q 0 0 0 rg BT 118.75 394.10 Td (by ) Tj ET Q q 0 0 0 rg BT 132.04 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 147.54 394.10 Td (dif) Tj ET Q q 0 0 0 rg BT 158.47 394.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 191.17 394.10 Td (between ) Tj ET Q q 0 0 0 rg BT 227.77 394.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 268.27 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 279.89 394.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 309.28 394.10 Td (as ) Tj ET Q q 0 0 0 rg BT 320.90 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 332.52 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 348.02 394.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 374.64 394.10 Td (year ) Tj ET Q q 0 0 0 rg BT 395.13 394.10 Td (end ) Tj ET Q q 0 0 0 rg BT 412.86 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 430.59 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.09 394.10 Td (re-estimated ) Tj ET Q q 0 0 0 rg BT 498.80 394.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 533.19 394.10 Td (at ) Tj ET Q q 0 0 0 rg BT 543.70 394.10 Td (each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 97.79 382.10 Td (year ) Tj ET Q q 0 0 0 rg BT 118.34 382.10 Td (end. ) Tj ET Q q 0 0 0 rg BT 138.63 382.10 Td (Favorable ) Tj ET Q q 0 0 0 rg BT 181.97 382.10 Td (development ) Tj ET Q q 0 0 0 rg BT 236.97 382.10 Td (\(reserve ) Tj ET Q q 0 0 0 rg BT 272.51 382.10 Td (redundancy\) ) Tj ET Q q 0 0 0 rg BT 325.84 382.10 Td (means ) Tj ET Q q 0 0 0 rg BT 354.74 382.10 Td (that ) Tj ET Q q 0 0 0 rg BT 373.08 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 388.65 382.10 Td (original ) Tj ET Q q 0 0 0 rg BT 423.10 382.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 452.55 382.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 493.12 382.10 Td (were ) Tj ET Q q 0 0 0 rg BT 515.89 382.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 544.79 382.10 Td (than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 104.42 370.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 151.59 370.10 Td (or ) Tj ET Q q 0 0 0 rg BT 162.12 370.10 Td (re-estimated. ) Tj ET Q q 0 0 0 rg BT 216.24 370.10 Td (Unfavorable ) Tj ET Q q 0 0 0 rg BT 268.42 370.10 Td (development ) Tj ET Q q 0 0 0 rg BT 322.26 370.10 Td (\(reserve ) Tj ET Q q 0 0 0 rg BT 356.66 370.10 Td (deficiency\) ) Tj ET Q q 0 0 0 rg BT 403.83 370.10 Td (means ) Tj ET Q q 0 0 0 rg BT 431.58 370.10 Td (that ) Tj ET Q q 0 0 0 rg BT 448.77 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 463.19 370.10 Td (original ) Tj ET Q q 0 0 0 rg BT 496.49 370.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 524.79 370.10 Td (estimates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (were ) Tj ET Q q 0 0 0 rg BT 71.93 358.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 97.20 358.10 Td (than ) Tj ET Q q 0 0 0 rg BT 116.91 358.10 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 171.63 358.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 219.11 358.10 Td (or ) Tj ET Q q 0 0 0 rg BT 229.94 358.10 Td (re-estimated. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (For ) Tj ET Q q 0 0 0 rg BT 65.86 334.10 Td (example, ) Tj ET Q q 0 0 0 rg BT 104.21 334.10 Td (in ) Tj ET Q q 0 0 0 rg BT 113.96 334.10 Td (2010, ) Tj ET Q q 0 0 0 rg BT 138.43 334.10 Td (a ) Tj ET Q q 0 0 0 rg BT 144.84 334.10 Td (detailed ) Tj ET Q q 0 0 0 rg BT 178.46 334.10 Td (review ) Tj ET Q q 0 0 0 rg BT 207.64 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 217.94 334.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 242.13 334.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 278.53 334.10 Td (and ) Tj ET Q q 0 0 0 rg BT 294.94 334.10 Td (reserving ) Tj ET Q q 0 0 0 rg BT 334.12 334.10 Td (practices ) Tj ET Q q 0 0 0 rg BT 371.62 334.10 Td (was ) Tj ET Q q 0 0 0 rg BT 389.15 334.10 Td (performed, ) Tj ET Q q 0 0 0 rg BT 435.26 334.10 Td (which ) Tj ET Q q 0 0 0 rg BT 461.67 334.10 Td (led ) Tj ET Q q 0 0 0 rg BT 475.86 334.10 Td (to ) Tj ET Q q 0 0 0 rg BT 485.61 334.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 529.80 334.10 Td (changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 61.31 322.10 Td (both ) Tj ET Q q 0 0 0 rg BT 82.61 322.10 Td (practices, ) Tj ET Q q 0 0 0 rg BT 124.17 322.10 Td (increasing ) Tj ET Q q 0 0 0 rg BT 168.79 322.10 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 205.09 322.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 224.18 322.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 264.92 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 282.89 322.10 Td (accelerating ) Tj ET Q q 0 0 0 rg BT 334.71 322.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 360.45 322.10 Td (payments. ) Tj ET Q q 0 0 0 rg BT 404.55 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 413.19 322.10 Td (e ) Tj ET Q q 0 0 0 rg BT 421.15 322.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 459.65 322.10 Td (a ) Tj ET Q q 0 0 0 rg BT 467.62 322.10 Td (total ) Tj ET Q q 0 0 0 rg BT 488.92 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 500.78 322.10 Td ($5.3 ) Tj ET Q q 0 0 0 rg BT 521.81 322.10 Td (million ) Tj ET Q q 0 0 0 rg BT 554.23 322.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (unfavorable ) Tj ET Q q 0 0 0 rg BT 100.83 310.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 132.77 310.10 Td (development ) Tj ET Q q 0 0 0 rg BT 187.49 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 198.34 310.10 Td (2010 ) Tj ET Q q 0 0 0 rg BT 221.42 310.10 Td (related ) Tj ET Q q 0 0 0 rg BT 251.69 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 262.55 310.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 291.72 310.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 328.11 310.10 Td (during ) Tj ET Q q 0 0 0 rg BT 357.29 310.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 379.81 310.10 Td (periods. ) Tj ET Q q 0 0 0 rg BT 414.82 310.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 433.44 310.10 Td (review ) Tj ET Q q 0 0 0 rg BT 463.73 310.10 Td (continued ) Tj ET Q q 0 0 0 rg BT 506.23 310.10 Td (into ) Tj ET Q q 0 0 0 rg BT 524.86 310.10 Td (201) Tj ET Q q 0 0 0 rg BT 539.49 310.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 547.57 310.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.25 298.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 110.38 298.10 Td (a ) Tj ET Q q 0 0 0 rg BT 116.96 298.10 Td ($1.8 ) Tj ET Q q 0 0 0 rg BT 136.61 298.10 Td (million ) Tj ET Q q 0 0 0 rg BT 167.64 298.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 213.67 298.10 Td (to ) Tj ET Q q 0 0 0 rg BT 223.60 298.10 Td (further ) Tj ET Q q 0 0 0 rg BT 252.95 298.10 Td (strengthen ) Tj ET Q q 0 0 0 rg BT 296.75 298.10 Td (its ) Tj ET Q q 0 0 0 rg BT 308.34 298.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 343.25 298.10 Td (for ) Tj ET Q q 0 0 0 rg BT 357.06 298.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 385.31 298.10 Td (related ) Tj ET Q q 0 0 0 rg BT 414.65 298.10 Td (to ) Tj ET Q q 0 0 0 rg BT 424.58 298.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 457.83 298.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 484.97 298.10 Td (while ) Tj ET Q q 0 0 0 rg BT 509.34 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.70 298.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 101.49 286.10 Td (were ) Tj ET Q q 0 0 0 rg BT 125.19 286.10 Td (under ) Tj ET Q q 0 0 0 rg BT 152.23 286.10 Td (previous ) Tj ET Q q 0 0 0 rg BT 190.95 286.10 Td (ownership ) Tj ET Q q 0 0 0 rg BT 236.88 286.10 Td (in ) Tj ET Q q 0 0 0 rg BT 248.93 286.10 Td (years ) Tj ET Q q 0 0 0 rg BT 274.30 286.10 Td (preceding ) Tj ET Q q 0 0 0 rg BT 318.00 286.10 Td (2010. ) Tj ET Q q 0 0 0 rg BT 343.83 286.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 385.88 286.10 Td (we ) Tj ET Q q 0 0 0 rg BT 401.82 286.10 Td (have ) Tj ET Q q 0 0 0 rg BT 424.97 286.10 Td (not ) Tj ET Q q 0 0 0 rg BT 442.02 286.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 481.27 286.10 Td (any ) Tj ET Q q 0 0 0 rg BT 499.98 286.10 Td (further ) Tj ET Q q 0 0 0 rg BT 531.46 286.10 Td (adverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (development ) Tj ET Q q 0 0 0 rg BT 103.59 274.10 Td (since ) Tj ET Q q 0 0 0 rg BT 126.08 274.10 Td (that ) Tj ET Q q 0 0 0 rg BT 143.02 274.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 165.24 274.10 Td (we ) Tj ET Q q 0 0 0 rg BT 178.84 274.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 207.44 274.10 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 248.24 274.10 Td (that ) Tj ET Q q 0 0 0 rg BT 265.18 274.10 Td (we ) Tj ET Q q 0 0 0 rg BT 278.78 274.10 Td (will ) Tj ET Q q 0 0 0 rg BT 296.28 274.10 Td (not ) Tj ET Q q 0 0 0 rg BT 311.00 274.10 Td (have ) Tj ET Q q 0 0 0 rg BT 331.82 274.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 373.75 274.10 Td (unfavorable ) Tj ET Q q 0 0 0 rg BT 423.45 274.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 454.26 274.10 Td (developments ) Tj ET Q q 0 0 0 rg BT 511.74 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 521.46 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 535.62 274.10 Td (future. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.95 262.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 98.85 262.10 Td (we ) Tj ET Q q 0 0 0 rg BT 113.13 262.10 Td (may ) Tj ET Q q 0 0 0 rg BT 132.97 262.10 Td (in ) Tj ET Q q 0 0 0 rg BT 143.38 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 158.22 262.10 Td (future ) Tj ET Q q 0 0 0 rg BT 184.72 262.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 216.76 262.10 Td (other ) Tj ET Q q 0 0 0 rg BT 239.94 262.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 280.87 262.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 328.57 262.10 Td (W) Tj ET Q q 0 0 0 rg BT 337.21 262.10 Td (e ) Tj ET Q q 0 0 0 rg BT 344.27 262.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 373.55 262.10 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 415.04 262.10 Td (that ) Tj ET Q q 0 0 0 rg BT 432.65 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 447.49 262.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 491.79 262.10 Td (for ) Tj ET Q q 0 0 0 rg BT 506.07 262.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 535.91 262.10 Td (claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.86 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.60 250.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 120.89 250.10 Td (that ) Tj ET Q q 0 0 0 rg BT 138.41 250.10 Td (we ) Tj ET Q q 0 0 0 rg BT 152.60 250.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 184.55 250.10 Td (are ) Tj ET Q q 0 0 0 rg BT 199.28 250.10 Td (or ) Tj ET Q q 0 0 0 rg BT 210.14 250.10 Td (will ) Tj ET Q q 0 0 0 rg BT 228.23 250.10 Td (be ) Tj ET Q q 0 0 0 rg BT 240.19 250.10 Td (adequate. ) Tj ET Q q 0 0 0 rg BT 280.75 250.10 Td ( ) Tj ET Q q 0 0 0 rg BT 283.28 250.10 Td (Government ) Tj ET Q q 0 0 0 rg BT 335.79 250.10 Td (regulators ) Tj ET Q q 0 0 0 rg BT 378.30 250.10 Td (could ) Tj ET Q q 0 0 0 rg BT 403.04 250.10 Td (require ) Tj ET Q q 0 0 0 rg BT 433.89 250.10 Td (that ) Tj ET Q q 0 0 0 rg BT 451.41 250.10 Td (we ) Tj ET Q q 0 0 0 rg BT 465.60 250.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 500.88 250.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 536.16 250.10 Td (if ) Tj ET Q q 0 0 0 rg BT 544.80 250.10 Td (they ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 92.30 238.10 Td (that ) Tj ET Q q 0 0 0 rg BT 109.62 238.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 153.61 238.10 Td (for ) Tj ET Q q 0 0 0 rg BT 167.59 238.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 197.13 238.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 225.56 238.10 Td (are ) Tj ET Q q 0 0 0 rg BT 240.09 238.10 Td (understated. ) Tj ET Q q 0 0 0 rg BT 291.00 238.10 Td (Increases ) Tj ET Q q 0 0 0 rg BT 330.52 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 340.62 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.16 238.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 395.26 238.10 Td (for ) Tj ET Q q 0 0 0 rg BT 409.24 238.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 438.78 238.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 467.20 238.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 491.73 238.10 Td (a ) Tj ET Q q 0 0 0 rg BT 498.49 238.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 538.58 238.10 Td (in ) Tj ET Q q 0 0 0 rg BT 548.68 238.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 91.66 226.10 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 141.47 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 144.81 226.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 177.05 226.10 Td (which ) Tj ET Q q 0 0 0 rg BT 204.83 226.10 Td (could ) Tj ET Q q 0 0 0 rg BT 230.40 226.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 255.95 226.10 Td (a ) Tj ET Q q 0 0 0 rg BT 263.74 226.10 Td (downgrading ) Tj ET Q q 0 0 0 rg BT 319.85 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 331.53 226.10 Td (our ) Tj ET Q q 0 0 0 rg BT 348.20 226.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 389.86 226.10 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 439.67 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 443.02 226.10 Td (ratings. ) Tj ET Q q 0 0 0 rg BT 475.34 226.10 Td (Any ) Tj ET Q q 0 0 0 rg BT 495.91 226.10 Td (such ) Tj ET Q q 0 0 0 rg BT 517.58 226.10 Td (downgrade ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (could, ) Tj ET Q q 0 0 0 rg BT 77.22 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 87.50 214.10 Td (turn, ) Tj ET Q q 0 0 0 rg BT 108.60 214.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 149.42 214.10 Td (af) Tj ET Q q 0 0 0 rg BT 157.01 214.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 174.49 214.10 Td (their ) Tj ET Q q 0 0 0 rg BT 195.32 214.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 223.37 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 233.65 214.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 250.03 214.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 290.85 214.10 Td (policies.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (For ) Tj ET Q q 0 0 0 rg BT 67.56 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 82.34 190.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 128.23 190.10 Td (that ) Tj ET Q q 0 0 0 rg BT 146.34 190.10 Td (we ) Tj ET Q q 0 0 0 rg BT 159.45 190.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 192.56 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 203.45 190.10 Td (will ) Tj ET Q q 0 0 0 rg BT 220.45 190.10 Td (acquire, ) Tj ET Q q 0 0 0 rg BT 256.06 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 270.84 190.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 315.07 190.10 Td (for ) Tj ET Q q 0 0 0 rg BT 329.29 190.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 360.19 190.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 388.86 190.10 Td (may ) Tj ET Q q 0 0 0 rg BT 408.07 190.10 Td (be ) Tj ET Q q 0 0 0 rg BT 419.51 190.10 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 467.07 190.10 Td (at ) Tj ET Q q 0 0 0 rg BT 476.85 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 491.62 190.10 Td (time ) Tj ET Q q 0 0 0 rg BT 511.40 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 521.73 190.10 Td (purchase, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (which ) Tj ET Q q 0 0 0 rg BT 77.51 178.10 Td (would ) Tj ET Q q 0 0 0 rg BT 105.02 178.10 Td (result ) Tj ET Q q 0 0 0 rg BT 130.86 178.10 Td (in ) Tj ET Q q 0 0 0 rg BT 141.70 178.10 Td (a ) Tj ET Q q 0 0 0 rg BT 149.20 178.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 191.15 178.10 Td (in ) Tj ET Q q 0 0 0 rg BT 201.99 178.10 Td (our ) Tj ET Q q 0 0 0 rg BT 218.94 178.10 Td (net ) Tj ET Q q 0 0 0 rg BT 234.22 178.10 Td (income ) Tj ET Q q 0 0 0 rg BT 266.71 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 284.78 178.10 Td (might ) Tj ET Q q 0 0 0 rg BT 311.17 178.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 351.99 178.10 Td (af) Tj ET Q q 0 0 0 rg BT 360.14 178.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 377.62 178.10 Td (our ) Tj ET Q q 0 0 0 rg BT 394.58 178.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 434.30 178.10 Td (condition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 154.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.66 154.10 Td (became ) Tj ET Q q 0 0 0 rg BT 98.78 154.10 Td (or ) Tj ET Q q 0 0 0 rg BT 109.69 154.10 Td (will ) Tj ET Q q 0 0 0 rg BT 127.84 154.10 Td (become ) Tj ET Q q 0 0 0 rg BT 161.52 154.10 Td (responsible ) Tj ET Q q 0 0 0 rg BT 209.65 154.10 Td (for ) Tj ET Q q 0 0 0 rg BT 223.89 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 238.70 154.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 278.49 154.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 296.64 154.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 331.98 154.10 Td (established ) Tj ET Q q 0 0 0 rg BT 379.00 154.10 Td (by ) Tj ET Q q 0 0 0 rg BT 391.59 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 406.39 154.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 443.40 154.10 Td (company's ) Tj ET Q q 0 0 0 rg BT 488.33 154.10 Td (management ) Tj ET Q q 0 0 0 rg BT 542.01 154.10 Td (upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (completion ) Tj ET Q q 0 0 0 rg BT 97.90 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.14 142.10 Td (acquisitions. ) Tj ET Q q 0 0 0 rg BT 162.11 142.10 Td (While ) Tj ET Q q 0 0 0 rg BT 189.46 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 204.58 142.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 228.60 142.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 267.05 142.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 311.60 142.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 348.95 142.10 Td (for ) Tj ET Q q 0 0 0 rg BT 363.52 142.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 393.63 142.10 Td (protections ) Tj ET Q q 0 0 0 rg BT 440.98 142.10 Td (in ) Tj ET Q q 0 0 0 rg BT 451.66 142.10 Td (this ) Tj ET Q q 0 0 0 rg BT 469.02 142.10 Td (regard, ) Tj ET Q q 0 0 0 rg BT 499.97 142.10 Td (there ) Tj ET Q q 0 0 0 rg BT 522.87 142.10 Td (can ) Tj ET Q q 0 0 0 rg BT 539.65 142.10 Td (be ) Tj ET Q q 0 0 0 rg BT 552.00 142.10 Td (no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (assurances ) Tj ET Q q 0 0 0 rg BT 96.36 130.10 Td (they ) Tj ET Q q 0 0 0 rg BT 117.18 130.10 Td (will ) Tj ET Q q 0 0 0 rg BT 136.34 130.10 Td (be ) Tj ET Q q 0 0 0 rg BT 149.38 130.10 Td (suf) Tj ET Q q 0 0 0 rg BT 161.42 130.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 190.57 130.10 Td (to ) Tj ET Q q 0 0 0 rg BT 201.95 130.10 Td (of) Tj ET Q q 0 0 0 rg BT 210.10 130.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 228.14 130.10 Td (any ) Tj ET Q q 0 0 0 rg BT 246.18 130.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 280.32 130.10 Td (development ) Tj ET Q q 0 0 0 rg BT 335.57 130.10 Td (to ) Tj ET Q q 0 0 0 rg BT 346.95 130.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.77 130.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 400.80 130.10 Td (company's ) Tj ET Q q 0 0 0 rg BT 446.75 130.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 487.56 130.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 506.73 130.10 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 544.79 130.10 Td (Any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (unfavorable ) Tj ET Q q 0 0 0 rg BT 101.09 118.10 Td (development ) Tj ET Q q 0 0 0 rg BT 156.07 118.10 Td (in ) Tj ET Q q 0 0 0 rg BT 167.19 118.10 Td (an ) Tj ET Q q 0 0 0 rg BT 179.96 118.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 217.72 118.10 Td (company's ) Tj ET Q q 0 0 0 rg BT 263.40 118.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 299.50 118.10 Td (would ) Tj ET Q q 0 0 0 rg BT 327.83 118.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 357.81 118.10 Td (our ) Tj ET Q q 0 0 0 rg BT 374.48 118.10 Td (net ) Tj ET Q q 0 0 0 rg BT 390.03 118.10 Td (income ) Tj ET Q q 0 0 0 rg BT 422.80 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 440.57 118.10 Td (have ) Tj ET Q q 0 0 0 rg BT 462.78 118.10 Td (an ) Tj ET Q q 0 0 0 rg BT 475.56 118.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 509.43 118.10 Td (ef) Tj ET Q q 0 0 0 rg BT 517.02 118.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 535.34 118.10 Td (on ) Tj ET Q q 0 0 0 rg BT 548.67 118.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.16 106.10 Td (position ) Tj ET Q q 0 0 0 rg BT 121.56 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 131.52 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.91 106.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 172.52 106.10 Td (it ) Tj ET Q q 0 0 0 rg BT 180.25 106.10 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 214.08 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 228.47 106.10 Td (protections ) Tj ET Q q 0 0 0 rg BT 275.08 106.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 312.80 106.10 Td (for ) Tj ET Q q 0 0 0 rg BT 326.64 106.10 Td (in ) Tj ET Q q 0 0 0 rg BT 336.59 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.99 106.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 374.27 106.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 411.99 106.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 455.80 106.10 Td (related ) Tj ET Q q 0 0 0 rg BT 485.18 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 495.14 106.10 Td (each ) Tj ET Q q 0 0 0 rg BT 515.63 106.10 Td (acquisition.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 69.17 82.10 Td (success ) Tj ET Q q 0 0 0 rg BT 102.23 82.10 Td (depends ) Tj ET Q q 0 0 0 rg BT 138.06 82.10 Td (on ) Tj ET Q q 0 0 0 rg BT 151.12 82.10 Td (our ) Tj ET Q q 0 0 0 rg BT 168.07 82.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 196.12 82.10 Td (to ) Tj ET Q q 0 0 0 rg BT 206.40 82.10 Td (accurately ) Tj ET Q q 0 0 0 rg BT 251.67 82.10 Td (price ) Tj ET Q q 0 0 0 rg BT 274.71 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 289.99 82.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 311.94 82.10 Td (we ) Tj ET Q q 0 0 0 rg BT 325.55 82.10 Td (underwrite. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.91 58.10 Td (results ) Tj ET Q q 0 0 0 rg BT 96.38 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.07 58.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 151.08 58.10 Td (and ) Tj ET Q q 0 0 0 rg BT 167.88 58.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 205.21 58.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 245.35 58.10 Td (depend ) Tj ET Q q 0 0 0 rg BT 276.58 58.10 Td (on ) Tj ET Q q 0 0 0 rg BT 288.94 58.10 Td (our ) Tj ET Q q 0 0 0 rg BT 304.63 58.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 332.54 58.10 Td (to ) Tj ET Q q 0 0 0 rg BT 342.68 58.10 Td (underwrite ) Tj ET Q q 0 0 0 rg BT 388.35 58.10 Td (and ) Tj ET Q q 0 0 0 rg BT 405.15 58.10 Td (set ) Tj ET Q q 0 0 0 rg BT 418.61 58.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 457.08 58.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 478.31 58.10 Td (accurately ) Tj ET Q q 0 0 0 rg BT 521.75 58.10 Td (for ) Tj ET Q q 0 0 0 rg BT 535.77 58.10 Td (a ) Tj ET Q q 0 0 0 rg BT 542.56 58.10 Td (wide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (variety ) Tj ET Q q 0 0 0 rg BT 82.01 46.10 Td (of ) Tj ET Q q 0 0 0 rg BT 94.58 46.10 Td (risks. ) Tj ET Q q 0 0 0 rg BT 119.28 46.10 Td (Adequate ) Tj ET Q q 0 0 0 rg BT 161.84 46.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 184.96 46.10 Td (are ) Tj ET Q q 0 0 0 rg BT 201.42 46.10 Td (necessary ) Tj ET Q q 0 0 0 rg BT 244.53 46.10 Td (to ) Tj ET Q q 0 0 0 rg BT 256.55 46.10 Td (generate ) Tj ET Q q 0 0 0 rg BT 294.66 46.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 338.90 46.10 Td (suf) Tj ET Q q 0 0 0 rg BT 350.94 46.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 380.73 46.10 Td (to ) Tj ET Q q 0 0 0 rg BT 392.75 46.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 411.43 46.10 Td (losses, ) Tj ET Q q 0 0 0 rg BT 442.07 46.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 461.87 46.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 507.22 46.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 547.56 46.10 Td (and ) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 104.34 742.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 143.12 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 160.24 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 170.70 742.10 Td (earn ) Tj ET Q q 0 0 0 rg BT 190.59 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 197.71 742.10 Td (profit. ) Tj ET Q q 0 0 0 rg BT 224.91 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 230.32 742.10 Td (o ) Tj ET Q q 0 0 0 rg BT 238.01 742.10 Td (price ) Tj ET Q q 0 0 0 rg BT 260.67 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 276.69 742.10 Td (products ) Tj ET Q q 0 0 0 rg BT 313.81 742.10 Td (accurately) Tj ET Q q 0 0 0 rg BT 354.24 742.10 Td (, ) Tj ET Q q 0 0 0 rg BT 359.42 742.10 Td (we ) Tj ET Q q 0 0 0 rg BT 373.76 742.10 Td (must ) Tj ET Q q 0 0 0 rg BT 395.89 742.10 Td (collect ) Tj ET Q q 0 0 0 rg BT 425.22 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 442.34 742.10 Td (properly ) Tj ET Q q 0 0 0 rg BT 478.90 742.10 Td (analyze ) Tj ET Q q 0 0 0 rg BT 512.12 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 519.24 742.10 Td (substantial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 82.59 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.51 730.10 Td (data; ) Tj ET Q q 0 0 0 rg BT 115.54 730.10 Td (develop, ) Tj ET Q q 0 0 0 rg BT 152.29 730.10 Td (test ) Tj ET Q q 0 0 0 rg BT 168.77 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 185.80 730.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 210.62 730.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 258.74 730.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 289.66 730.10 Td (techniques; ) Tj ET Q q 0 0 0 rg BT 337.80 730.10 Td (closely ) Tj ET Q q 0 0 0 rg BT 368.72 730.10 Td (monitor ) Tj ET Q q 0 0 0 rg BT 402.98 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 420.01 730.10 Td (timely ) Tj ET Q q 0 0 0 rg BT 448.16 730.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 489.61 730.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 524.41 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 534.79 730.10 Td (trends; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.40 718.10 Td (project ) Tj ET Q q 0 0 0 rg BT 98.12 718.10 Td (both ) Tj ET Q q 0 0 0 rg BT 118.86 718.10 Td (severity ) Tj ET Q q 0 0 0 rg BT 153.48 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 170.88 718.10 Td (frequency ) Tj ET Q q 0 0 0 rg BT 213.81 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 225.10 718.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 251.96 718.10 Td (with ) Tj ET Q q 0 0 0 rg BT 272.69 718.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 318.41 718.10 Td (accuracy) Tj ET Q q 0 0 0 rg BT 353.28 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 358.74 718.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 377.25 718.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 405.77 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 416.50 718.10 Td (undertake ) Tj ET Q q 0 0 0 rg BT 458.89 718.10 Td (these ) Tj ET Q q 0 0 0 rg BT 482.40 718.10 Td (ef) Tj ET Q q 0 0 0 rg BT 489.98 718.10 Td (forts ) Tj ET Q q 0 0 0 rg BT 511.27 718.10 Td (successfully) Tj ET Q q 0 0 0 rg BT 559.50 718.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.65 706.10 Td (as ) Tj ET Q q 0 0 0 rg BT 79.19 706.10 Td (a ) Tj ET Q q 0 0 0 rg BT 86.84 706.10 Td (result ) Tj ET Q q 0 0 0 rg BT 112.26 706.10 Td (price ) Tj ET Q q 0 0 0 rg BT 135.46 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 152.00 706.10 Td (products ) Tj ET Q q 0 0 0 rg BT 189.64 706.10 Td (accurately) Tj ET Q q 0 0 0 rg BT 230.07 706.10 Td (, ) Tj ET Q q 0 0 0 rg BT 235.78 706.10 Td (is ) Tj ET Q q 0 0 0 rg BT 245.66 706.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 277.20 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 288.19 706.10 Td (a ) Tj ET Q q 0 0 0 rg BT 295.83 706.10 Td (number ) Tj ET Q q 0 0 0 rg BT 329.59 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 341.13 706.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 363.23 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 380.88 706.10 Td (uncertainties, ) Tj ET Q q 0 0 0 rg BT 437.68 706.10 Td (some ) Tj ET Q q 0 0 0 rg BT 461.99 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 473.53 706.10 Td (which ) Tj ET Q q 0 0 0 rg BT 501.18 706.10 Td (are ) Tj ET Q q 0 0 0 rg BT 516.60 706.10 Td (outside ) Tj ET Q q 0 0 0 rg BT 548.69 706.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (control, ) Tj ET Q q 0 0 0 rg BT 83.33 694.10 Td (including: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 139.22 670.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 186.70 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 197.53 670.10 Td (suf) Tj ET Q q 0 0 0 rg BT 209.57 670.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 237.62 670.10 Td (reliable ) Tj ET Q q 0 0 0 rg BT 270.10 670.10 Td (data ) Tj ET Q q 0 0 0 rg BT 289.25 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 306.19 670.10 Td (our ) Tj ET Q q 0 0 0 rg BT 322.02 670.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 350.07 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 360.35 670.10 Td (properly ) Tj ET Q q 0 0 0 rg BT 396.73 670.10 Td (analyze ) Tj ET Q q 0 0 0 rg BT 429.76 670.10 Td (available ) Tj ET Q q 0 0 0 rg BT 468.35 670.10 Td (data; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 139.22 658.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 192.81 658.10 Td (that ) Tj ET Q q 0 0 0 rg BT 210.30 658.10 Td (inherently ) Tj ET Q q 0 0 0 rg BT 253.34 658.10 Td (characterize ) Tj ET Q q 0 0 0 rg BT 304.13 658.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 343.84 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 360.78 658.10 Td (assumptions; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 646.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 646.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 170.33 646.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 197.26 646.10 Td (or ) Tj ET Q q 0 0 0 rg BT 208.09 646.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 242.80 646.10 Td (af) Tj ET Q q 0 0 0 rg BT 250.39 646.10 Td (fecting ) Tj ET Q q 0 0 0 rg BT 280.65 646.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 298.15 646.10 Td (and ) Tj ET Q q 0 0 0 rg BT 315.09 646.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 333.15 646.10 Td (costs;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 634.10 Td (our ) Tj ET Q q 0 0 0 rg BT 140.33 634.10 Td (selection ) Tj ET Q q 0 0 0 rg BT 178.37 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 195.31 634.10 Td (application ) Tj ET Q q 0 0 0 rg BT 242.24 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 253.07 634.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 301.10 634.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 331.93 634.10 Td (techniques; ) Tj ET Q q 0 0 0 rg BT 379.97 634.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 622.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 159.21 622.10 Td (in ) Tj ET Q q 0 0 0 rg BT 169.49 622.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 213.07 622.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 235.01 622.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 268.62 622.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 308.88 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 325.82 622.10 Td (in ) Tj ET Q q 0 0 0 rg BT 336.10 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.82 622.10 Td (civil ) Tj ET Q q 0 0 0 rg BT 371.09 622.10 Td (litigation ) Tj ET Q q 0 0 0 rg BT 409.70 622.10 Td (system ) Tj ET Q q 0 0 0 rg BT 439.98 622.10 Td (generally) Tj ET Q q 0 0 0 rg BT 476.53 622.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (Consequently) Tj ET Q q 0 0 0 rg BT 104.35 601.10 Td (, ) Tj ET Q q 0 0 0 rg BT 109.53 601.10 Td (we ) Tj ET Q q 0 0 0 rg BT 123.87 601.10 Td (could ) Tj ET Q q 0 0 0 rg BT 148.76 601.10 Td (under ) Tj ET Q q 0 0 0 rg BT 174.21 601.10 Td (price ) Tj ET Q q 0 0 0 rg BT 196.88 601.10 Td (risks, ) Tj ET Q q 0 0 0 rg BT 220.95 601.10 Td (which ) Tj ET Q q 0 0 0 rg BT 248.07 601.10 Td (would ) Tj ET Q q 0 0 0 rg BT 275.75 601.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 316.75 601.10 Td (af) Tj ET Q q 0 0 0 rg BT 324.34 601.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 342.00 601.10 Td (our ) Tj ET Q q 0 0 0 rg BT 358.01 601.10 Td (profit ) Tj ET Q q 0 0 0 rg BT 382.91 601.10 Td (mar) Tj ET Q q 0 0 0 rg BT 398.28 601.10 Td (gins, ) Tj ET Q q 0 0 0 rg BT 420.13 601.10 Td (or ) Tj ET Q q 0 0 0 rg BT 431.14 601.10 Td (we ) Tj ET Q q 0 0 0 rg BT 445.48 601.10 Td (could ) Tj ET Q q 0 0 0 rg BT 470.38 601.10 Td (over ) Tj ET Q q 0 0 0 rg BT 490.83 601.10 Td (price ) Tj ET Q q 0 0 0 rg BT 513.49 601.10 Td (risks, ) Tj ET Q q 0 0 0 rg BT 537.56 601.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.10 Td (could ) Tj ET Q q 0 0 0 rg BT 74.72 589.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 103.86 589.10 Td (our ) Tj ET Q q 0 0 0 rg BT 119.69 589.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 141.63 589.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 174.13 589.10 Td (and ) Tj ET Q q 0 0 0 rg BT 191.06 589.10 Td (competitiveness. ) Tj ET Q q 0 0 0 rg BT 260.49 589.10 Td (In ) Tj ET Q q 0 0 0 rg BT 271.32 589.10 Td (either ) Tj ET Q q 0 0 0 rg BT 296.59 589.10 Td (case, ) Tj ET Q q 0 0 0 rg BT 318.79 589.10 Td (our ) Tj ET Q q 0 0 0 rg BT 334.62 589.10 Td (profitability ) Tj ET Q q 0 0 0 rg BT 384.89 589.10 Td (could ) Tj ET Q q 0 0 0 rg BT 409.61 589.10 Td (be ) Tj ET Q q 0 0 0 rg BT 421.55 589.10 Td (materially ) Tj ET Q q 0 0 0 rg BT 464.58 589.10 Td (and ) Tj ET Q q 0 0 0 rg BT 481.52 589.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 522.34 589.10 Td (af) Tj ET Q q 0 0 0 rg BT 529.93 589.10 Td (fected.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 565.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.99 565.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 110.42 565.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 160.64 565.10 Td (rely ) Tj ET Q q 0 0 0 rg BT 177.50 565.10 Td (on ) Tj ET Q q 0 0 0 rg BT 189.37 565.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 241.24 565.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 269.22 565.10 Td (and ) Tj ET Q q 0 0 0 rg BT 286.10 565.10 Td (other ) Tj ET Q q 0 0 0 rg BT 309.08 565.10 Td (producers ) Tj ET Q q 0 0 0 rg BT 351.50 565.10 Td (to ) Tj ET Q q 0 0 0 rg BT 360.59 565.10 Td (bind ) Tj ET Q q 0 0 0 rg BT 380.25 565.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 422.68 565.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 455.10 565.10 Td (on ) Tj ET Q q 0 0 0 rg BT 466.97 565.10 Td (and ) Tj ET Q q 0 0 0 rg BT 483.85 565.10 Td (to ) Tj ET Q q 0 0 0 rg BT 492.94 565.10 Td (collect ) Tj ET Q q 0 0 0 rg BT 520.90 565.10 Td (premiums ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 553.10 Td (from ) Tj ET Q q 0 0 0 rg BT 72.50 553.10 Td (our ) Tj ET Q q 0 0 0 rg BT 89.45 553.10 Td (policyholders, ) Tj ET Q q 0 0 0 rg BT 149.45 553.10 Td (which ) Tj ET Q q 0 0 0 rg BT 176.96 553.10 Td (exposes ) Tj ET Q q 0 0 0 rg BT 211.12 553.10 Td (us ) Tj ET Q q 0 0 0 rg BT 223.07 553.10 Td (to ) Tj ET Q q 0 0 0 rg BT 233.35 553.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 255.30 553.10 Td (that ) Tj ET Q q 0 0 0 rg BT 273.92 553.10 Td (our ) Tj ET Q q 0 0 0 rg BT 290.87 553.10 Td (producers ) Tj ET Q q 0 0 0 rg BT 334.49 553.10 Td (fail ) Tj ET Q q 0 0 0 rg BT 350.87 553.10 Td (to ) Tj ET Q q 0 0 0 rg BT 361.15 553.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 383.09 553.10 Td (their ) Tj ET Q q 0 0 0 rg BT 405.03 553.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 453.10 553.10 Td (to ) Tj ET Q q 0 0 0 rg BT 463.38 553.10 Td (us.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 529.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.73 529.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 110.23 529.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 160.62 529.10 Td (market ) Tj ET Q q 0 0 0 rg BT 191.57 529.10 Td (and ) Tj ET Q q 0 0 0 rg BT 209.19 529.10 Td (distribute ) Tj ET Q q 0 0 0 rg BT 250.14 529.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 298.31 529.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 339.81 529.10 Td (products ) Tj ET Q q 0 0 0 rg BT 377.43 529.10 Td (through ) Tj ET Q q 0 0 0 rg BT 411.71 529.10 Td (a ) Tj ET Q q 0 0 0 rg BT 419.33 529.10 Td (network ) Tj ET Q q 0 0 0 rg BT 455.28 529.10 Td (of ) Tj ET Q q 0 0 0 rg BT 466.79 529.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 518.84 529.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 547.57 529.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 517.10 Td (other ) Tj ET Q q 0 0 0 rg BT 74.04 517.10 Td (producers ) Tj ET Q q 0 0 0 rg BT 116.97 517.10 Td (in ) Tj ET Q q 0 0 0 rg BT 128.24 517.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.95 517.10 Td (United ) Tj ET Q q 0 0 0 rg BT 174.66 517.10 Td (States. ) Tj ET Q q 0 0 0 rg BT 204.54 517.10 Td ( ) Tj ET Q q 0 0 0 rg BT 207.79 517.10 Td (W) Tj ET Q q 0 0 0 rg BT 216.42 517.10 Td (e ) Tj ET Q q 0 0 0 rg BT 224.36 517.10 Td (rely) Tj ET Q q 0 0 0 rg BT 239.26 517.10 Td (, ) Tj ET Q q 0 0 0 rg BT 245.25 517.10 Td (and ) Tj ET Q q 0 0 0 rg BT 263.18 517.10 Td (will ) Tj ET Q q 0 0 0 rg BT 282.24 517.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 320.17 517.10 Td (to ) Tj ET Q q 0 0 0 rg BT 331.44 517.10 Td (rely) Tj ET Q q 0 0 0 rg BT 346.34 517.10 Td (, ) Tj ET Q q 0 0 0 rg BT 352.33 517.10 Td (heavily ) Tj ET Q q 0 0 0 rg BT 385.26 517.10 Td (on ) Tj ET Q q 0 0 0 rg BT 398.75 517.10 Td (these ) Tj ET Q q 0 0 0 rg BT 422.80 517.10 Td (producers ) Tj ET Q q 0 0 0 rg BT 465.72 517.10 Td (to ) Tj ET Q q 0 0 0 rg BT 476.99 517.10 Td (attract ) Tj ET Q q 0 0 0 rg BT 505.47 517.10 Td (new ) Tj ET Q q 0 0 0 rg BT 525.63 517.10 Td (business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.10 Td (Independent ) Tj ET Q q 0 0 0 rg BT 101.20 505.10 Td (producers ) Tj ET Q q 0 0 0 rg BT 142.40 505.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 181.37 505.10 Td (have ) Tj ET Q q 0 0 0 rg BT 202.02 505.10 Td (the ) Tj ET Q q 0 0 0 rg BT 216.01 505.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 243.33 505.10 Td (to ) Tj ET Q q 0 0 0 rg BT 252.89 505.10 Td (bind ) Tj ET Q q 0 0 0 rg BT 272.44 505.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 312.52 505.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 345.40 505.10 Td (and ) Tj ET Q q 0 0 0 rg BT 361.61 505.10 Td (collect ) Tj ET Q q 0 0 0 rg BT 390.03 505.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 431.80 505.10 Td (on ) Tj ET Q q 0 0 0 rg BT 443.57 505.10 Td (our ) Tj ET Q q 0 0 0 rg BT 458.68 505.10 Td (behalf, ) Tj ET Q q 0 0 0 rg BT 487.93 505.10 Td (actions ) Tj ET Q q 0 0 0 rg BT 518.03 505.10 Td (over ) Tj ET Q q 0 0 0 rg BT 537.57 505.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.10 Td (we ) Tj ET Q q 0 0 0 rg BT 63.59 493.10 Td (have ) Tj ET Q q 0 0 0 rg BT 84.39 493.10 Td (a ) Tj ET Q q 0 0 0 rg BT 90.76 493.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 121.02 493.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 148.50 493.10 Td (to ) Tj ET Q q 0 0 0 rg BT 158.21 493.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 192.89 493.10 Td (preventative ) Tj ET Q q 0 0 0 rg BT 244.24 493.10 Td (control. ) Tj ET Q q 0 0 0 rg BT 276.99 493.10 Td (In ) Tj ET Q q 0 0 0 rg BT 287.25 493.10 Td (the ) Tj ET Q q 0 0 0 rg BT 301.40 493.10 Td (event ) Tj ET Q q 0 0 0 rg BT 324.98 493.10 Td (that ) Tj ET Q q 0 0 0 rg BT 341.90 493.10 Td (an ) Tj ET Q q 0 0 0 rg BT 353.27 493.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 404.07 493.10 Td (agent ) Tj ET Q q 0 0 0 rg BT 427.66 493.10 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 461.23 493.10 Td (their ) Tj ET Q q 0 0 0 rg BT 481.48 493.10 Td (authority ) Tj ET Q q 0 0 0 rg BT 519.52 493.10 Td (by ) Tj ET Q q 0 0 0 rg BT 531.45 493.10 Td (binding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (us ) Tj ET Q q 0 0 0 rg BT 61.03 481.10 Td (on ) Tj ET Q q 0 0 0 rg BT 73.16 481.10 Td (a ) Tj ET Q q 0 0 0 rg BT 79.73 481.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 96.87 481.10 Td (that ) Tj ET Q q 0 0 0 rg BT 113.99 481.10 Td (does ) Tj ET Q q 0 0 0 rg BT 134.46 481.10 Td (not ) Tj ET Q q 0 0 0 rg BT 149.37 481.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 181.50 481.10 Td (with ) Tj ET Q q 0 0 0 rg BT 201.41 481.10 Td (our ) Tj ET Q q 0 0 0 rg BT 216.88 481.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 270.66 481.10 Td (guidelines, ) Tj ET Q q 0 0 0 rg BT 316.40 481.10 Td (we ) Tj ET Q q 0 0 0 rg BT 330.20 481.10 Td (may ) Tj ET Q q 0 0 0 rg BT 349.55 481.10 Td (be ) Tj ET Q q 0 0 0 rg BT 361.12 481.10 Td (at ) Tj ET Q q 0 0 0 rg BT 370.47 481.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 387.60 481.10 Td (for ) Tj ET Q q 0 0 0 rg BT 401.40 481.10 Td (that ) Tj ET Q q 0 0 0 rg BT 418.53 481.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 445.65 481.10 Td (until ) Tj ET Q q 0 0 0 rg BT 466.12 481.10 Td (we ) Tj ET Q q 0 0 0 rg BT 479.92 481.10 Td (ef) Tj ET Q q 0 0 0 rg BT 487.50 481.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 504.62 481.10 Td (a ) Tj ET Q q 0 0 0 rg BT 511.20 481.10 Td (cancellation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (Any ) Tj ET Q q 0 0 0 rg BT 70.57 469.10 Td (improper ) Tj ET Q q 0 0 0 rg BT 110.58 469.10 Td (use ) Tj ET Q q 0 0 0 rg BT 127.26 469.10 Td (of ) Tj ET Q q 0 0 0 rg BT 138.94 469.10 Td (such ) Tj ET Q q 0 0 0 rg BT 160.62 469.10 Td (authority ) Tj ET Q q 0 0 0 rg BT 200.08 469.10 Td (may ) Tj ET Q q 0 0 0 rg BT 220.65 469.10 Td (result ) Tj ET Q q 0 0 0 rg BT 246.21 469.10 Td (in ) Tj ET Q q 0 0 0 rg BT 257.34 469.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 284.58 469.10 Td (that ) Tj ET Q q 0 0 0 rg BT 302.93 469.10 Td (could ) Tj ET Q q 0 0 0 rg BT 328.50 469.10 Td (have ) Tj ET Q q 0 0 0 rg BT 350.73 469.10 Td (a ) Tj ET Q q 0 0 0 rg BT 358.52 469.10 Td (material ) Tj ET Q q 0 0 0 rg BT 394.63 469.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 428.51 469.10 Td (ef) Tj ET Q q 0 0 0 rg BT 436.10 469.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 454.44 469.10 Td (on ) Tj ET Q q 0 0 0 rg BT 467.79 469.10 Td (our ) Tj ET Q q 0 0 0 rg BT 484.47 469.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 524.21 469.10 Td (results ) Tj ET Q q 0 0 0 rg BT 553.67 469.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 94.55 457.10 Td (and ) Tj ET Q q 0 0 0 rg BT 111.88 457.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 149.76 457.10 Td (condition. ) Tj ET Q q 0 0 0 rg BT 192.93 457.10 Td (In ) Tj ET Q q 0 0 0 rg BT 204.16 457.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 242.32 457.10 Td (in ) Tj ET Q q 0 0 0 rg BT 253.00 457.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 300.85 457.10 Td (with ) Tj ET Q q 0 0 0 rg BT 321.53 457.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 357.20 457.10 Td (practice, ) Tj ET Q q 0 0 0 rg BT 394.24 457.10 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 451.57 457.10 Td (often ) Tj ET Q q 0 0 0 rg BT 475.01 457.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 492.34 457.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.46 457.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 550.35 457.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (their ) Tj ET Q q 0 0 0 rg BT 69.98 445.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 102.74 445.10 Td (to ) Tj ET Q q 0 0 0 rg BT 112.18 445.10 Td (producers ) Tj ET Q q 0 0 0 rg BT 153.27 445.10 Td (for ) Tj ET Q q 0 0 0 rg BT 166.58 445.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 202.68 445.10 Td (to ) Tj ET Q q 0 0 0 rg BT 212.11 445.10 Td (us. ) Tj ET Q q 0 0 0 rg BT 225.04 445.10 Td (These ) Tj ET Q q 0 0 0 rg BT 250.58 445.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 292.23 445.10 Td (may ) Tj ET Q q 0 0 0 rg BT 311.10 445.10 Td (be ) Tj ET Q q 0 0 0 rg BT 322.20 445.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 367.17 445.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 386.05 445.10 Td (when ) Tj ET Q q 0 0 0 rg BT 409.37 445.10 Td (received ) Tj ET Q q 0 0 0 rg BT 444.89 445.10 Td (by ) Tj ET Q q 0 0 0 rg BT 456.54 445.10 Td (the ) Tj ET Q q 0 0 0 rg BT 470.42 445.10 Td (producer ) Tj ET Q q 0 0 0 rg BT 507.61 445.10 Td (and ) Tj ET Q q 0 0 0 rg BT 523.71 445.10 Td (thereafter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.55 433.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 103.55 433.10 Td (is ) Tj ET Q q 0 0 0 rg BT 112.56 433.10 Td (no ) Tj ET Q q 0 0 0 rg BT 124.89 433.10 Td (longer ) Tj ET Q q 0 0 0 rg BT 152.78 433.10 Td (liable ) Tj ET Q q 0 0 0 rg BT 177.33 433.10 Td (to ) Tj ET Q q 0 0 0 rg BT 187.44 433.10 Td (us ) Tj ET Q q 0 0 0 rg BT 198.67 433.10 Td (for ) Tj ET Q q 0 0 0 rg BT 212.67 433.10 Td (those ) Tj ET Q q 0 0 0 rg BT 236.12 433.10 Td (amounts, ) Tj ET Q q 0 0 0 rg BT 274.84 433.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 309.39 433.10 Td (or ) Tj ET Q q 0 0 0 rg BT 320.06 433.10 Td (not ) Tj ET Q q 0 0 0 rg BT 335.17 433.10 Td (we ) Tj ET Q q 0 0 0 rg BT 349.17 433.10 Td (have ) Tj ET Q q 0 0 0 rg BT 370.38 433.10 Td (actually ) Tj ET Q q 0 0 0 rg BT 404.37 433.10 Td (received ) Tj ET Q q 0 0 0 rg BT 440.57 433.10 Td (these ) Tj ET Q q 0 0 0 rg BT 463.46 433.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 501.90 433.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 542.56 433.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.32 421.10 Td (producer) Tj ET Q q 0 0 0 rg BT 99.31 421.10 Td (. ) Tj ET Q q 0 0 0 rg BT 103.92 421.10 Td (Consequently) Tj ET Q q 0 0 0 rg BT 158.26 421.10 Td (, ) Tj ET Q q 0 0 0 rg BT 162.87 421.10 Td (we ) Tj ET Q q 0 0 0 rg BT 176.64 421.10 Td (assume ) Tj ET Q q 0 0 0 rg BT 208.18 421.10 Td (a ) Tj ET Q q 0 0 0 rg BT 214.73 421.10 Td (degree ) Tj ET Q q 0 0 0 rg BT 243.48 421.10 Td (of ) Tj ET Q q 0 0 0 rg BT 253.92 421.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 271.02 421.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 314.22 421.10 Td (with ) Tj ET Q q 0 0 0 rg BT 334.11 421.10 Td (our ) Tj ET Q q 0 0 0 rg BT 349.55 421.10 Td (reliance ) Tj ET Q q 0 0 0 rg BT 383.29 421.10 Td (on ) Tj ET Q q 0 0 0 rg BT 395.40 421.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 446.38 421.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 474.03 421.10 Td (in ) Tj ET Q q 0 0 0 rg BT 483.92 421.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 529.90 421.10 Td (with ) Tj ET Q q 0 0 0 rg BT 549.78 421.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 93.60 409.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.43 409.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 145.24 409.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 183.85 409.10 Td (balances. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 69.23 385.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 112.90 385.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 164.35 385.10 Td (may ) Tj ET Q q 0 0 0 rg BT 184.12 385.10 Td (be ) Tj ET Q q 0 0 0 rg BT 196.11 385.10 Td (unable ) Tj ET Q q 0 0 0 rg BT 227.00 385.10 Td (to ) Tj ET Q q 0 0 0 rg BT 237.33 385.10 Td (mitigate ) Tj ET Q q 0 0 0 rg BT 273.21 385.10 Td (their ) Tj ET Q q 0 0 0 rg BT 295.21 385.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 313.33 385.10 Td (or ) Tj ET Q q 0 0 0 rg BT 324.77 385.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 361.76 385.10 Td (their ) Tj ET Q q 0 0 0 rg BT 383.76 385.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 440.22 385.10 Td (capacity ) Tj ET Q q 0 0 0 rg BT 476.64 385.10 Td (through ) Tj ET Q q 0 0 0 rg BT 512.55 385.10 Td (reinsurance ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (arrangements, ) Tj ET Q q 0 0 0 rg BT 112.49 373.10 Td (which ) Tj ET Q q 0 0 0 rg BT 140.25 373.10 Td (could ) Tj ET Q q 0 0 0 rg BT 165.78 373.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 206.85 373.10 Td (af) Tj ET Q q 0 0 0 rg BT 215.00 373.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 232.74 373.10 Td (our ) Tj ET Q q 0 0 0 rg BT 249.95 373.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 290.21 373.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 330.20 373.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 371.85 373.10 Td (and ) Tj ET Q q 0 0 0 rg BT 390.16 373.10 Td (results ) Tj ET Q q 0 0 0 rg BT 420.15 373.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.23 373.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 479.82 373.10 Td (If ) Tj ET Q q 0 0 0 rg BT 489.80 373.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 542.01 373.10 Td (rates ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (rise ) Tj ET Q q 0 0 0 rg BT 66.91 361.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 119.94 361.10 Td (or ) Tj ET Q q 0 0 0 rg BT 130.74 361.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 182.11 361.10 Td (becomes ) Tj ET Q q 0 0 0 rg BT 219.01 361.10 Td (unavailable ) Tj ET Q q 0 0 0 rg BT 269.26 361.10 Td (or ) Tj ET Q q 0 0 0 rg BT 280.06 361.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 324.21 361.10 Td (are ) Tj ET Q q 0 0 0 rg BT 339.45 361.10 Td (unable ) Tj ET Q q 0 0 0 rg BT 369.71 361.10 Td (to ) Tj ET Q q 0 0 0 rg BT 379.40 361.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 395.75 361.10 Td (our ) Tj ET Q q 0 0 0 rg BT 412.12 361.10 Td (claims, ) Tj ET Q q 0 0 0 rg BT 443.19 361.10 Td (we ) Tj ET Q q 0 0 0 rg BT 456.22 361.10 Td (may ) Tj ET Q q 0 0 0 rg BT 475.35 361.10 Td (be ) Tj ET Q q 0 0 0 rg BT 486.70 361.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 526.93 361.10 Td (af) Tj ET Q q 0 0 0 rg BT 535.08 361.10 Td (fected.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (In ) Tj ET Q q 0 0 0 rg BT 59.82 337.10 Td (order ) Tj ET Q q 0 0 0 rg BT 82.41 337.10 Td (to ) Tj ET Q q 0 0 0 rg BT 91.68 337.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 119.82 337.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 172.96 337.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 189.45 337.10 Td (and ) Tj ET Q q 0 0 0 rg BT 205.38 337.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 239.63 337.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 292.77 337.10 Td (capacity) Tj ET Q q 0 0 0 rg BT 325.43 337.10 Td (, ) Tj ET Q q 0 0 0 rg BT 329.42 337.10 Td (our ) Tj ET Q q 0 0 0 rg BT 344.24 337.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 384.05 337.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 432.76 337.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 464.79 337.10 Td (portions ) Tj ET Q q 0 0 0 rg BT 499.06 337.10 Td (of ) Tj ET Q q 0 0 0 rg BT 508.88 337.10 Td (our ) Tj ET Q q 0 0 0 rg BT 523.70 337.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 67.66 325.10 Td (to ) Tj ET Q q 0 0 0 rg BT 78.10 325.10 Td (other ) Tj ET Q q 0 0 0 rg BT 101.31 325.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 135.64 325.10 Td (through ) Tj ET Q q 0 0 0 rg BT 169.41 325.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 218.15 325.10 Td (contracts. ) Tj ET Q q 0 0 0 rg BT 259.22 325.10 Td (W) Tj ET Q q 0 0 0 rg BT 267.85 325.10 Td (e ) Tj ET Q q 0 0 0 rg BT 274.96 325.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 314.82 325.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 353.02 325.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 401.77 325.10 Td (from ) Tj ET Q q 0 0 0 rg BT 423.87 325.10 Td (third ) Tj ET Q q 0 0 0 rg BT 445.42 325.10 Td (parties ) Tj ET Q q 0 0 0 rg BT 474.73 325.10 Td (in ) Tj ET Q q 0 0 0 rg BT 485.18 325.10 Td (order ) Tj ET Q q 0 0 0 rg BT 508.94 325.10 Td (to ) Tj ET Q q 0 0 0 rg BT 519.38 325.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 548.69 325.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 83.03 313.10 Td (on ) Tj ET Q q 0 0 0 rg BT 94.94 313.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 137.41 313.10 Td (risks. ) Tj ET Q q 0 0 0 rg BT 160.72 313.10 Td (Reinsurance ) Tj ET Q q 0 0 0 rg BT 212.07 313.10 Td (does ) Tj ET Q q 0 0 0 rg BT 232.31 313.10 Td (not ) Tj ET Q q 0 0 0 rg BT 247.01 313.10 Td (relieve ) Tj ET Q q 0 0 0 rg BT 276.13 313.10 Td (us ) Tj ET Q q 0 0 0 rg BT 286.94 313.10 Td (of ) Tj ET Q q 0 0 0 rg BT 297.19 313.10 Td (our ) Tj ET Q q 0 0 0 rg BT 312.44 313.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 346.01 313.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 379.04 313.10 Td (to ) Tj ET Q q 0 0 0 rg BT 388.73 313.10 Td (our ) Tj ET Q q 0 0 0 rg BT 403.98 313.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 444.21 313.10 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 494.02 313.10 Td ( ) Tj ET Q q 0 0 0 rg BT 495.94 313.10 Td (insureds. ) Tj ET Q q 0 0 0 rg BT 533.68 313.10 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.90 301.10 Td (year ) Tj ET Q q 0 0 0 rg BT 84.79 301.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 111.35 301.10 Td (December ) Tj ET Q q 0 0 0 rg BT 155.12 301.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 170.30 301.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.30 301.10 Td (, ) Tj ET Q q 0 0 0 rg BT 195.48 301.10 Td (we ) Tj ET Q q 0 0 0 rg BT 209.83 301.10 Td (had ) Tj ET Q q 0 0 0 rg BT 226.95 301.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 252.95 301.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 291.73 301.10 Td (written ) Tj ET Q q 0 0 0 rg BT 322.74 301.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.75 301.10 Td ($1) Tj ET Q q 0 0 0 rg BT 343.38 301.10 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 358.57 301.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.46 301.10 Td ( ) Tj ET Q q 0 0 0 rg BT 390.14 301.10 Td (to ) Tj ET Q q 0 0 0 rg BT 400.60 301.10 Td (our ) Tj ET Q q 0 0 0 rg BT 416.62 301.10 Td (reinsurers. ) Tj ET Q q 0 0 0 rg BT 461.03 301.10 Td (The ) Tj ET Q q 0 0 0 rg BT 479.26 301.10 Td (availability) Tj ET Q q 0 0 0 rg BT 523.60 301.10 Td (, ) Tj ET Q q 0 0 0 rg BT 528.78 301.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 547.57 301.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.10 Td (structure ) Tj ET Q q 0 0 0 rg BT 87.04 289.10 Td (of ) Tj ET Q q 0 0 0 rg BT 97.42 289.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 145.56 289.10 Td (protection ) Tj ET Q q 0 0 0 rg BT 188.16 289.10 Td (are ) Tj ET Q q 0 0 0 rg BT 202.42 289.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 232.80 289.10 Td (to ) Tj ET Q q 0 0 0 rg BT 242.63 289.10 Td (prevailing ) Tj ET Q q 0 0 0 rg BT 285.23 289.10 Td (market ) Tj ET Q q 0 0 0 rg BT 315.05 289.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 358.77 289.10 Td (that ) Tj ET Q q 0 0 0 rg BT 375.82 289.10 Td (are ) Tj ET Q q 0 0 0 rg BT 390.08 289.10 Td (outside ) Tj ET Q q 0 0 0 rg BT 421.02 289.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.41 289.10 Td (our ) Tj ET Q q 0 0 0 rg BT 446.79 289.10 Td (control ) Tj ET Q q 0 0 0 rg BT 477.17 289.10 Td (and ) Tj ET Q q 0 0 0 rg BT 493.67 289.10 Td (which ) Tj ET Q q 0 0 0 rg BT 520.16 289.10 Td (may ) Tj ET Q q 0 0 0 rg BT 539.43 289.10 Td (af) Tj ET Q q 0 0 0 rg BT 547.02 289.10 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.10 Td (our ) Tj ET Q q 0 0 0 rg BT 66.39 277.10 Td (level ) Tj ET Q q 0 0 0 rg BT 88.88 277.10 Td (of ) Tj ET Q q 0 0 0 rg BT 100.26 277.10 Td (business ) Tj ET Q q 0 0 0 rg BT 137.21 277.10 Td (and ) Tj ET Q q 0 0 0 rg BT 154.71 277.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 201.83 277.10 Td (. ) Tj ET Q q 0 0 0 rg BT 207.38 277.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 225.99 277.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 254.60 277.10 Td (to ) Tj ET Q q 0 0 0 rg BT 265.43 277.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 299.04 277.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 340.41 277.10 Td (at ) Tj ET Q q 0 0 0 rg BT 350.68 277.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 400.95 277.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 440.11 277.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 462.04 277.10 Td (and ) Tj ET Q q 0 0 0 rg BT 479.54 277.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 518.68 277.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 544.52 277.10 Td (on ) Tj ET Q q 0 0 0 rg BT 557.57 277.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 265.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 95.60 265.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 118.43 265.10 Td (depends ) Tj ET Q q 0 0 0 rg BT 154.02 265.10 Td (in ) Tj ET Q q 0 0 0 rg BT 164.63 265.10 Td (part ) Tj ET Q q 0 0 0 rg BT 183.00 265.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 205.83 265.10 Td (the ) Tj ET Q q 0 0 0 rg BT 220.87 265.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 248.13 265.10 Td (to ) Tj ET Q q 0 0 0 rg BT 258.74 265.10 Td (which ) Tj ET Q q 0 0 0 rg BT 286.01 265.10 Td (we ) Tj ET Q q 0 0 0 rg BT 300.49 265.10 Td (can ) Tj ET Q q 0 0 0 rg BT 317.20 265.10 Td (obtain ) Tj ET Q q 0 0 0 rg BT 345.02 265.10 Td (adequate ) Tj ET Q q 0 0 0 rg BT 383.38 265.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 432.29 265.10 Td (in ) Tj ET Q q 0 0 0 rg BT 442.90 265.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 479.61 265.10 Td (and ) Tj ET Q q 0 0 0 rg BT 496.88 265.10 Td (at ) Tj ET Q q 0 0 0 rg BT 506.92 265.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 528.62 265.10 Td (that ) Tj ET Q q 0 0 0 rg BT 546.45 265.10 Td (will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 253.10 Td (not ) Tj ET Q q 0 0 0 rg BT 65.74 253.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 107.01 253.10 Td (af) Tj ET Q q 0 0 0 rg BT 114.60 253.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 132.54 253.10 Td (our ) Tj ET Q q 0 0 0 rg BT 148.83 253.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 198.99 253.10 Td (position. ) Tj ET Q q 0 0 0 rg BT 236.46 253.10 Td (There ) Tj ET Q q 0 0 0 rg BT 262.74 253.10 Td (are ) Tj ET Q q 0 0 0 rg BT 277.90 253.10 Td (no ) Tj ET Q q 0 0 0 rg BT 290.86 253.10 Td (assurances ) Tj ET Q q 0 0 0 rg BT 336.58 253.10 Td (that ) Tj ET Q q 0 0 0 rg BT 354.53 253.10 Td (we ) Tj ET Q q 0 0 0 rg BT 369.15 253.10 Td (will ) Tj ET Q q 0 0 0 rg BT 387.66 253.10 Td (be ) Tj ET Q q 0 0 0 rg BT 400.06 253.10 Td (able ) Tj ET Q q 0 0 0 rg BT 419.67 253.10 Td (to ) Tj ET Q q 0 0 0 rg BT 430.41 253.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 468.36 253.10 Td (our ) Tj ET Q q 0 0 0 rg BT 484.65 253.10 Td (current ) Tj ET Q q 0 0 0 rg BT 515.92 253.10 Td (reinsurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 241.10 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 89.31 241.10 Td (which ) Tj ET Q q 0 0 0 rg BT 116.13 241.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 155.71 241.10 Td (are ) Tj ET Q q 0 0 0 rg BT 170.30 241.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 201.00 241.10 Td (to ) Tj ET Q q 0 0 0 rg BT 211.16 241.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 240.20 241.10 Td (renewal. ) Tj ET Q q 0 0 0 rg BT 276.72 241.10 Td (If ) Tj ET Q q 0 0 0 rg BT 285.76 241.10 Td (we ) Tj ET Q q 0 0 0 rg BT 299.80 241.10 Td (are ) Tj ET Q q 0 0 0 rg BT 314.39 241.10 Td (unable ) Tj ET Q q 0 0 0 rg BT 343.43 241.10 Td (to ) Tj ET Q q 0 0 0 rg BT 353.59 241.10 Td (renew ) Tj ET Q q 0 0 0 rg BT 380.40 241.10 Td (any ) Tj ET Q q 0 0 0 rg BT 397.21 241.10 Td (of ) Tj ET Q q 0 0 0 rg BT 407.92 241.10 Td (these ) Tj ET Q q 0 0 0 rg BT 430.85 241.10 Td (facilities ) Tj ET Q q 0 0 0 rg BT 467.66 241.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 490.04 241.10 Td (their ) Tj ET Q q 0 0 0 rg BT 510.75 241.10 Td (expiration ) Tj ET Q q 0 0 0 rg BT 553.67 241.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.63 229.10 Td (obtain ) Tj ET Q q 0 0 0 rg BT 86.48 229.10 Td (other ) Tj ET Q q 0 0 0 rg BT 108.89 229.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 156.83 229.10 Td (facilities ) Tj ET Q q 0 0 0 rg BT 193.11 229.10 Td (in ) Tj ET Q q 0 0 0 rg BT 202.74 229.10 Td (adequate ) Tj ET Q q 0 0 0 rg BT 240.13 229.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 275.87 229.10 Td (and ) Tj ET Q q 0 0 0 rg BT 292.17 229.10 Td (at ) Tj ET Q q 0 0 0 rg BT 301.24 229.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 340.85 229.10 Td (rates, ) Tj ET Q q 0 0 0 rg BT 364.08 229.10 Td (we ) Tj ET Q q 0 0 0 rg BT 377.60 229.10 Td (may ) Tj ET Q q 0 0 0 rg BT 396.67 229.10 Td (need ) Tj ET Q q 0 0 0 rg BT 417.40 229.10 Td (to ) Tj ET Q q 0 0 0 rg BT 427.04 229.10 Td (modify ) Tj ET Q q 0 0 0 rg BT 457.78 229.10 Td (our ) Tj ET Q q 0 0 0 rg BT 472.96 229.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 526.47 229.10 Td (practices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.83 217.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 89.98 217.10 Td (our ) Tj ET Q q 0 0 0 rg BT 105.81 217.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 159.96 217.10 Td (commitments, ) Tj ET Q q 0 0 0 rg BT 219.40 217.10 Td (which ) Tj ET Q q 0 0 0 rg BT 246.34 217.10 Td (could ) Tj ET Q q 0 0 0 rg BT 271.05 217.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 311.87 217.10 Td (af) Tj ET Q q 0 0 0 rg BT 319.46 217.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 336.94 217.10 Td (our ) Tj ET Q q 0 0 0 rg BT 352.77 217.10 Td (results ) Tj ET Q q 0 0 0 rg BT 381.38 217.10 Td (of ) Tj ET Q q 0 0 0 rg BT 392.21 217.10 Td (operations.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 69.22 193.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 112.89 193.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 164.33 193.10 Td (are ) Tj ET Q q 0 0 0 rg BT 180.21 193.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 211.64 193.10 Td (to ) Tj ET Q q 0 0 0 rg BT 221.96 193.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 247.83 193.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 265.93 193.10 Td (with ) Tj ET Q q 0 0 0 rg BT 286.26 193.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 317.69 193.10 Td (to ) Tj ET Q q 0 0 0 rg BT 328.01 193.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.33 193.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 391.44 193.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.31 193.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 447.09 193.10 Td (and ) Tj ET Q q 0 0 0 rg BT 465.20 193.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 496.63 193.10 Td (of ) Tj ET Q q 0 0 0 rg BT 507.50 193.10 Td (our ) Tj ET Q q 0 0 0 rg BT 524.50 193.10 Td (insureds. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.61 181.10 Td (inability ) Tj ET Q q 0 0 0 rg BT 105.00 181.10 Td (of ) Tj ET Q q 0 0 0 rg BT 115.83 181.10 Td (our ) Tj ET Q q 0 0 0 rg BT 132.78 181.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 150.84 181.10 Td (sharing ) Tj ET Q q 0 0 0 rg BT 185.03 181.10 Td (partners ) Tj ET Q q 0 0 0 rg BT 221.98 181.10 Td (to ) Tj ET Q q 0 0 0 rg BT 232.26 181.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 254.19 181.10 Td (their ) Tj ET Q q 0 0 0 rg BT 276.14 181.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 324.21 181.10 Td (could ) Tj ET Q q 0 0 0 rg BT 349.49 181.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 390.30 181.10 Td (af) Tj ET Q q 0 0 0 rg BT 398.45 181.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 415.94 181.10 Td (our ) Tj ET Q q 0 0 0 rg BT 432.89 181.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 480.85 181.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 90.77 157.10 Td (the ) Tj ET Q q 0 0 0 rg BT 105.97 157.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 148.39 157.10 Td (are ) Tj ET Q q 0 0 0 rg BT 163.59 157.10 Td (liable ) Tj ET Q q 0 0 0 rg BT 188.79 157.10 Td (to ) Tj ET Q q 0 0 0 rg BT 199.56 157.10 Td (us ) Tj ET Q q 0 0 0 rg BT 211.44 157.10 Td (to ) Tj ET Q q 0 0 0 rg BT 222.21 157.10 Td (the ) Tj ET Q q 0 0 0 rg BT 237.42 157.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 264.84 157.10 Td (of ) Tj ET Q q 0 0 0 rg BT 276.16 157.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 294.15 157.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 320.45 157.10 Td (to ) Tj ET Q q 0 0 0 rg BT 331.22 157.10 Td (them, ) Tj ET Q q 0 0 0 rg BT 356.71 157.10 Td (we ) Tj ET Q q 0 0 0 rg BT 371.36 157.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 402.11 157.10 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 445.65 157.10 Td (liable ) Tj ET Q q 0 0 0 rg BT 470.85 157.10 Td (to ) Tj ET Q q 0 0 0 rg BT 481.62 157.10 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 539.04 157.10 Td (on ) Tj ET Q q 0 0 0 rg BT 552.03 157.10 Td (all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (risks, ) Tj ET Q q 0 0 0 rg BT 73.93 145.10 Td (even ) Tj ET Q q 0 0 0 rg BT 95.35 145.10 Td (those ) Tj ET Q q 0 0 0 rg BT 119.00 145.10 Td (reinsured. ) Tj ET Q q 0 0 0 rg BT 160.69 145.10 Td (As ) Tj ET Q q 0 0 0 rg BT 174.34 145.10 Td (a ) Tj ET Q q 0 0 0 rg BT 181.32 145.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 208.58 145.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 234.44 145.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 283.06 145.10 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 339.47 145.10 Td (do ) Tj ET Q q 0 0 0 rg BT 352.01 145.10 Td (not ) Tj ET Q q 0 0 0 rg BT 367.33 145.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 388.76 145.10 Td (our ) Tj ET Q q 0 0 0 rg BT 404.63 145.10 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 439.94 145.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 486.93 145.10 Td (to ) Tj ET Q q 0 0 0 rg BT 497.25 145.10 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 554.22 145.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 67.25 133.10 Td (claims. ) Tj ET Q q 0 0 0 rg BT 98.47 133.10 Td (W) Tj ET Q q 0 0 0 rg BT 107.11 133.10 Td (e ) Tj ET Q q 0 0 0 rg BT 114.36 133.10 Td (are ) Tj ET Q q 0 0 0 rg BT 129.38 133.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 160.52 133.10 Td (to ) Tj ET Q q 0 0 0 rg BT 171.11 133.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 196.69 133.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 218.40 133.10 Td (with ) Tj ET Q q 0 0 0 rg BT 238.99 133.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 270.12 133.10 Td (to ) Tj ET Q q 0 0 0 rg BT 280.72 133.10 Td (the ) Tj ET Q q 0 0 0 rg BT 295.75 133.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 333.54 133.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 368.58 133.10 Td (of ) Tj ET Q q 0 0 0 rg BT 379.72 133.10 Td (our ) Tj ET Q q 0 0 0 rg BT 395.87 133.10 Td (reinsurers. ) Tj ET Q q 0 0 0 rg BT 440.41 133.10 Td (W) Tj ET Q q 0 0 0 rg BT 449.04 133.10 Td (e ) Tj ET Q q 0 0 0 rg BT 456.30 133.10 Td (are ) Tj ET Q q 0 0 0 rg BT 471.32 133.10 Td (also ) Tj ET Q q 0 0 0 rg BT 490.24 133.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 521.38 133.10 Td (to ) Tj ET Q q 0 0 0 rg BT 531.98 133.10 Td (the ) Tj ET Q q 0 0 0 rg BT 547.01 133.10 Td (risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.17 121.10 Td (their ) Tj ET Q q 0 0 0 rg BT 87.66 121.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 129.26 121.10 Td (may ) Tj ET Q q 0 0 0 rg BT 148.65 121.10 Td (dispute ) Tj ET Q q 0 0 0 rg BT 179.70 121.10 Td (their ) Tj ET Q q 0 0 0 rg BT 200.20 121.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 246.81 121.10 Td (to ) Tj ET Q q 0 0 0 rg BT 256.76 121.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 273.37 121.10 Td (our ) Tj ET Q q 0 0 0 rg BT 288.87 121.10 Td (claims. ) Tj ET Q q 0 0 0 rg BT 319.17 121.10 Td (As ) Tj ET Q q 0 0 0 rg BT 332.45 121.10 Td (a ) Tj ET Q q 0 0 0 rg BT 339.06 121.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 365.95 121.10 Td (we ) Tj ET Q q 0 0 0 rg BT 379.78 121.10 Td (may ) Tj ET Q q 0 0 0 rg BT 399.16 121.10 Td (not ) Tj ET Q q 0 0 0 rg BT 414.11 121.10 Td (recover ) Tj ET Q q 0 0 0 rg BT 446.26 121.10 Td (suf) Tj ET Q q 0 0 0 rg BT 458.30 121.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 486.01 121.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 522.07 121.10 Td (for ) Tj ET Q q 0 0 0 rg BT 535.90 121.10 Td (claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.07 109.10 Td (we ) Tj ET Q q 0 0 0 rg BT 80.80 109.10 Td (submit ) Tj ET Q q 0 0 0 rg BT 110.09 109.10 Td (to ) Tj ET Q q 0 0 0 rg BT 119.94 109.10 Td (reinsurers, ) Tj ET Q q 0 0 0 rg BT 163.94 109.10 Td (if ) Tj ET Q q 0 0 0 rg BT 172.12 109.10 Td (at ) Tj ET Q q 0 0 0 rg BT 181.41 109.10 Td (all. ) Tj ET Q q 0 0 0 rg BT 195.51 109.10 Td (As ) Tj ET Q q 0 0 0 rg BT 208.70 109.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.10 109.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 277.25 109.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.25 109.10 Td (, ) Tj ET Q q 0 0 0 rg BT 301.82 109.10 Td (we ) Tj ET Q q 0 0 0 rg BT 315.55 109.10 Td (had ) Tj ET Q q 0 0 0 rg BT 332.06 109.10 Td (an ) Tj ET Q q 0 0 0 rg BT 343.57 109.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 384.50 109.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.90 109.10 Td ($20.7 ) Tj ET Q q 0 0 0 rg BT 419.47 109.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.37 109.10 Td ( ) Tj ET Q q 0 0 0 rg BT 450.44 109.10 Td (of ) Tj ET Q q 0 0 0 rg BT 460.84 109.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 508.99 109.10 Td (recoverables, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.00 97.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.11 97.10 Td ($8.9 ) Tj ET Q q 0 0 0 rg BT 108.29 97.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.18 97.10 Td ( ) Tj ET Q q 0 0 0 rg BT 139.85 97.10 Td (were ) Tj ET Q q 0 0 0 rg BT 161.95 97.10 Td (unsecured. ) Tj ET Q q 0 0 0 rg BT 207.66 97.10 Td (In ) Tj ET Q q 0 0 0 rg BT 218.66 97.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 256.61 97.10 Td (our ) Tj ET Q q 0 0 0 rg BT 272.61 97.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 321.37 97.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 369.57 97.10 Td (are ) Tj ET Q q 0 0 0 rg BT 384.45 97.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 415.45 97.10 Td (to ) Tj ET Q q 0 0 0 rg BT 425.90 97.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 464.67 97.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 490.12 97.10 Td (and ) Tj ET Q q 0 0 0 rg BT 507.23 97.10 Td (we ) Tj ET Q q 0 0 0 rg BT 521.56 97.10 Td (would ) Tj ET Q q 0 0 0 rg BT 549.24 97.10 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.10 Td (have ) Tj ET Q q 0 0 0 rg BT 71.38 85.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 119.96 85.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 158.54 85.10 Td (to ) Tj ET Q q 0 0 0 rg BT 168.82 85.10 Td (the ) Tj ET Q q 0 0 0 rg BT 183.54 85.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 210.47 85.10 Td (that ) Tj ET Q q 0 0 0 rg BT 227.97 85.10 Td (those ) Tj ET Q q 0 0 0 rg BT 251.58 85.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 276.86 85.10 Td (are ) Tj ET Q q 0 0 0 rg BT 291.57 85.10 Td (exceeded. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.10 Td (Ef) Tj ET Q q 0 0 0 rg BT 59.26 61.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 89.88 61.10 Td (immediately ) Tj ET Q q 0 0 0 rg BT 143.29 61.10 Td (after ) Tj ET Q q 0 0 0 rg BT 165.02 61.10 Td (the ) Tj ET Q q 0 0 0 rg BT 180.66 61.10 Td (close ) Tj ET Q q 0 0 0 rg BT 204.63 61.10 Td (of ) Tj ET Q q 0 0 0 rg BT 216.38 61.10 Td (the ) Tj ET Q q 0 0 0 rg BT 232.01 61.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 270.97 61.10 Td (transaction, ) Tj ET Q q 0 0 0 rg BT 320.76 61.10 Td (we ) Tj ET Q q 0 0 0 rg BT 335.84 61.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 368.69 61.10 Td (into ) Tj ET Q q 0 0 0 rg BT 387.67 61.10 Td (a ) Tj ET Q q 0 0 0 rg BT 395.52 61.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 445.03 61.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 490.09 61.10 Td (with ) Tj ET Q q 0 0 0 rg BT 511.29 61.10 Td (a ) Tj ET Q q 0 0 0 rg BT 519.15 61.10 Td (third ) Tj ET Q q 0 0 0 rg BT 541.46 61.10 Td (party ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.10 Td (reinsurer) Tj ET Q q 0 0 0 rg BT 85.14 49.10 Td (, ) Tj ET Q q 0 0 0 rg BT 90.66 49.10 Td (which ) Tj ET Q q 0 0 0 rg BT 118.13 49.10 Td (covers ) Tj ET Q q 0 0 0 rg BT 147.25 49.10 Td (all ) Tj ET Q q 0 0 0 rg BT 160.27 49.10 Td (in-force ) Tj ET Q q 0 0 0 rg BT 194.95 49.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 234.08 49.10 Td (and ) Tj ET Q q 0 0 0 rg BT 251.54 49.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 270.13 49.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 305.91 49.10 Td (for ) Tj ET Q q 0 0 0 rg BT 320.60 49.10 Td (Gateway) Tj ET Q q 0 0 0 rg BT 358.92 49.10 Td (s ) Tj ET Q q 0 0 0 rg BT 365.83 49.10 Td (workers) Tj ET Q q 0 0 0 rg BT 400.63 49.10 Td ( ) Tj ET Q q 0 0 0 rg BT 403.66 49.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 462.23 49.10 Td (program. ) Tj ET Q q 0 0 0 rg BT 500.96 49.10 Td (Along ) Tj ET Q q 0 0 0 rg BT 528.99 49.10 Td (with ) Tj ET Q q 0 0 0 rg BT 549.79 49.10 Td (the ) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 87.74 742.10 Td (any ) Tj ET Q q 0 0 0 rg BT 104.65 742.10 Td (go-forward ) Tj ET Q q 0 0 0 rg BT 152.11 742.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 190.69 742.10 Td (written ) Tj ET Q q 0 0 0 rg BT 221.49 742.10 Td (for ) Tj ET Q q 0 0 0 rg BT 235.63 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 250.32 742.10 Td (workers) Tj ET Q q 0 0 0 rg BT 285.12 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 287.60 742.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 345.62 742.10 Td (program ) Tj ET Q q 0 0 0 rg BT 381.97 742.10 Td (will ) Tj ET Q q 0 0 0 rg BT 400.01 742.10 Td (be ) Tj ET Q q 0 0 0 rg BT 411.92 742.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 437.71 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 447.97 742.10 Td (its ) Tj ET Q q 0 0 0 rg BT 459.90 742.10 Td (entirety ) Tj ET Q q 0 0 0 rg BT 492.91 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 503.17 742.10 Td (this ) Tj ET Q q 0 0 0 rg BT 520.09 742.10 Td (third ) Tj ET Q q 0 0 0 rg BT 541.46 742.10 Td (party ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (reinsurer ) Tj ET Q q 0 0 0 rg BT 88.08 730.10 Td (under ) Tj ET Q q 0 0 0 rg BT 113.40 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.16 730.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 152.92 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 163.80 730.10 Td (this ) Tj ET Q q 0 0 0 rg BT 180.80 730.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 229.43 730.10 Td (agreement. ) Tj ET Q q 0 0 0 rg BT 276.11 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 278.48 730.10 Td (While ) Tj ET Q q 0 0 0 rg BT 305.46 730.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 343.54 730.10 Td (will ) Tj ET Q q 0 0 0 rg BT 361.64 730.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 391.95 730.10 Td (liable ) Tj ET Q q 0 0 0 rg BT 416.71 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 427.04 730.10 Td (its ) Tj ET Q q 0 0 0 rg BT 439.03 730.10 Td (insureds, ) Tj ET Q q 0 0 0 rg BT 477.41 730.10 Td (we ) Tj ET Q q 0 0 0 rg BT 491.61 730.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 520.25 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 530.58 730.10 Td (have ) Tj ET Q q 0 0 0 rg BT 552.00 730.10 Td (no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (net ) Tj ET Q q 0 0 0 rg BT 65.61 718.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 105.11 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 116.28 718.10 Td (any ) Tj ET Q q 0 0 0 rg BT 134.11 718.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 161.40 718.10 Td (related ) Tj ET Q q 0 0 0 rg BT 192.00 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 203.17 718.10 Td (this ) Tj ET Q q 0 0 0 rg BT 221.01 718.10 Td (workers) Tj ET Q q 0 0 0 rg BT 255.81 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 259.21 718.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 318.14 718.10 Td (business ) Tj ET Q q 0 0 0 rg BT 355.43 718.10 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 403.26 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 414.44 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.05 718.10 Td (ef) Tj ET Q q 0 0 0 rg BT 437.64 718.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 468.23 718.10 Td (date ) Tj ET Q q 0 0 0 rg BT 488.29 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 500.01 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 515.62 718.10 Td (acquisition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 88.40 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 103.46 706.10 Td (reinsurer ) Tj ET Q q 0 0 0 rg BT 141.85 706.10 Td (continues ) Tj ET Q q 0 0 0 rg BT 183.03 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 193.66 706.10 Td (make ) Tj ET Q q 0 0 0 rg BT 218.16 706.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 259.34 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 269.97 706.10 Td (us ) Tj ET Q q 0 0 0 rg BT 281.71 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 299.00 706.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 340.73 706.10 Td (complies ) Tj ET Q q 0 0 0 rg BT 379.68 706.10 Td (with ) Tj ET Q q 0 0 0 rg BT 400.31 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 415.38 706.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 440.44 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 451.63 706.10 Td (this ) Tj ET Q q 0 0 0 rg BT 468.92 706.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 517.86 706.10 Td (agreement, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (although ) Tj ET Q q 0 0 0 rg BT 87.50 694.10 Td (no ) Tj ET Q q 0 0 0 rg BT 100.00 694.10 Td (assurances ) Tj ET Q q 0 0 0 rg BT 145.25 694.10 Td (thereof ) Tj ET Q q 0 0 0 rg BT 176.07 694.10 Td (can ) Tj ET Q q 0 0 0 rg BT 192.45 694.10 Td (be ) Tj ET Q q 0 0 0 rg BT 204.38 694.10 Td (given.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 670.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 71.82 670.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 102.36 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 112.37 670.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 152.91 670.10 Td (programs, ) Tj ET Q q 0 0 0 rg BT 195.40 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 209.84 670.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 250.38 670.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 299.83 670.10 Td (are ) Tj ET Q q 0 0 0 rg BT 314.26 670.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 344.81 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.81 670.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 379.80 670.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 397.03 670.10 Td (with ) Tj ET Q q 0 0 0 rg BT 417.03 670.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 447.57 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 457.58 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.02 670.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 508.68 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 519.23 670.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 547.56 670.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (on ) Tj ET Q q 0 0 0 rg BT 63.04 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 78.29 658.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 110.22 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 121.59 658.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 139.63 658.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 178.76 658.10 Td (either ) Tj ET Q q 0 0 0 rg BT 204.57 658.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 230.92 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 241.74 658.10 Td (captives ) Tj ET Q q 0 0 0 rg BT 277.54 658.10 Td (established ) Tj ET Q q 0 0 0 rg BT 325.01 658.10 Td (by ) Tj ET Q q 0 0 0 rg BT 338.05 658.10 Td (their ) Tj ET Q q 0 0 0 rg BT 359.41 658.10 Td (clients ) Tj ET Q q 0 0 0 rg BT 388.56 658.10 Td (or ) Tj ET Q q 0 0 0 rg BT 399.92 658.10 Td (deductibles ) Tj ET Q q 0 0 0 rg BT 448.50 658.10 Td (retained ) Tj ET Q q 0 0 0 rg BT 483.75 658.10 Td (by ) Tj ET Q q 0 0 0 rg BT 496.78 658.10 Td (their ) Tj ET Q q 0 0 0 rg BT 518.15 658.10 Td (clients. ) Tj ET Q q 0 0 0 rg BT 549.79 658.10 Td (No ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (assurance ) Tj ET Q q 0 0 0 rg BT 92.00 646.10 Td (can ) Tj ET Q q 0 0 0 rg BT 109.01 646.10 Td (be ) Tj ET Q q 0 0 0 rg BT 121.58 646.10 Td (given ) Tj ET Q q 0 0 0 rg BT 146.93 646.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 188.38 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 203.73 646.10 Td (future ) Tj ET Q q 0 0 0 rg BT 230.73 646.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 259.42 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 270.88 646.10 Td (these ) Tj ET Q q 0 0 0 rg BT 294.56 646.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 326.57 646.10 Td (to ) Tj ET Q q 0 0 0 rg BT 337.49 646.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 360.05 646.10 Td (their ) Tj ET Q q 0 0 0 rg BT 381.51 646.10 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 431.36 646.10 Td (The ) Tj ET Q q 0 0 0 rg BT 450.04 646.10 Td (inability ) Tj ET Q q 0 0 0 rg BT 486.50 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 497.96 646.10 Td (our ) Tj ET Q q 0 0 0 rg BT 514.42 646.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 532.56 646.10 Td (sharing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (partners ) Tj ET Q q 0 0 0 rg BT 84.71 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 94.99 634.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 116.92 634.10 Td (their ) Tj ET Q q 0 0 0 rg BT 137.74 634.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 184.69 634.10 Td (could ) Tj ET Q q 0 0 0 rg BT 209.40 634.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 250.22 634.10 Td (af) Tj ET Q q 0 0 0 rg BT 257.81 634.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 275.29 634.10 Td (our ) Tj ET Q q 0 0 0 rg BT 291.12 634.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 338.24 634.10 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.61 610.10 Td (exclusions ) Tj ET Q q 0 0 0 rg BT 114.45 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 132.51 610.10 Td (limitations ) Tj ET Q q 0 0 0 rg BT 178.91 610.10 Td (in ) Tj ET Q q 0 0 0 rg BT 189.75 610.10 Td (our ) Tj ET Q q 0 0 0 rg BT 206.70 610.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 240.31 610.10 Td (may ) Tj ET Q q 0 0 0 rg BT 260.02 610.10 Td (not ) Tj ET Q q 0 0 0 rg BT 275.86 610.10 Td (be ) Tj ET Q q 0 0 0 rg BT 287.80 610.10 Td (enforceable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.62 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Many ) Tj ET Q q 0 0 0 rg BT 74.83 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 84.66 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 98.38 586.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 130.99 586.10 Td (we ) Tj ET Q q 0 0 0 rg BT 144.15 586.10 Td (issue ) Tj ET Q q 0 0 0 rg BT 165.65 586.10 Td (include ) Tj ET Q q 0 0 0 rg BT 196.58 586.10 Td (exclusions ) Tj ET Q q 0 0 0 rg BT 240.30 586.10 Td (or ) Tj ET Q q 0 0 0 rg BT 250.13 586.10 Td (other ) Tj ET Q q 0 0 0 rg BT 272.18 586.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 315.35 586.10 Td (that ) Tj ET Q q 0 0 0 rg BT 331.85 586.10 Td (define ) Tj ET Q q 0 0 0 rg BT 358.33 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 374.27 586.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 394.67 586.10 Td (coverage, ) Tj ET Q q 0 0 0 rg BT 434.75 586.10 Td (which ) Tj ET Q q 0 0 0 rg BT 460.69 586.10 Td (exclusions ) Tj ET Q q 0 0 0 rg BT 504.41 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 520.35 586.10 Td (conditions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.91 574.10 Td (designed ) Tj ET Q q 0 0 0 rg BT 103.15 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 113.63 574.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 147.42 574.10 Td (our ) Tj ET Q q 0 0 0 rg BT 163.45 574.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 202.25 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 212.73 574.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 242.63 574.10 Td (types ) Tj ET Q q 0 0 0 rg BT 266.44 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 277.47 574.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 299.06 574.10 Td (and ) Tj ET Q q 0 0 0 rg BT 316.19 574.10 Td (expanding ) Tj ET Q q 0 0 0 rg BT 360.55 574.10 Td (theories ) Tj ET Q q 0 0 0 rg BT 394.90 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 405.93 574.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 428.07 574.10 Td (liability) Tj ET Q q 0 0 0 rg BT 458.52 574.10 Td (. ) Tj ET Q q 0 0 0 rg BT 463.72 574.10 Td (In ) Tj ET Q q 0 0 0 rg BT 474.75 574.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 512.73 574.10 Td (many ) Tj ET Q q 0 0 0 rg BT 537.64 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 548.67 574.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 83.79 562.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 105.37 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 120.27 562.10 Td (period ) Tj ET Q q 0 0 0 rg BT 148.50 562.10 Td (during ) Tj ET Q q 0 0 0 rg BT 177.29 562.10 Td (which ) Tj ET Q q 0 0 0 rg BT 204.42 562.10 Td (a ) Tj ET Q q 0 0 0 rg BT 211.54 562.10 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 264.77 562.10 Td (may ) Tj ET Q q 0 0 0 rg BT 284.67 562.10 Td (bring ) Tj ET Q q 0 0 0 rg BT 308.47 562.10 Td (a ) Tj ET Q q 0 0 0 rg BT 315.59 562.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 340.49 562.10 Td (under ) Tj ET Q q 0 0 0 rg BT 365.94 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 380.84 562.10 Td (policy) Tj ET Q q 0 0 0 rg BT 405.19 562.10 Td (, ) Tj ET Q q 0 0 0 rg BT 410.38 562.10 Td (which ) Tj ET Q q 0 0 0 rg BT 437.50 562.10 Td (period ) Tj ET Q q 0 0 0 rg BT 465.73 562.10 Td (in ) Tj ET Q q 0 0 0 rg BT 476.20 562.10 Td (many ) Tj ET Q q 0 0 0 rg BT 501.10 562.10 Td (cases ) Tj ET Q q 0 0 0 rg BT 524.88 562.10 Td (is ) Tj ET Q q 0 0 0 rg BT 534.24 562.10 Td (shorter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (than ) Tj ET Q q 0 0 0 rg BT 69.95 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 84.91 550.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 122.64 550.10 Td (period ) Tj ET Q q 0 0 0 rg BT 150.92 550.10 Td (under ) Tj ET Q q 0 0 0 rg BT 176.43 550.10 Td (which ) Tj ET Q q 0 0 0 rg BT 203.60 550.10 Td (these ) Tj ET Q q 0 0 0 rg BT 226.89 550.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 255.73 550.10 Td (can ) Tj ET Q q 0 0 0 rg BT 272.34 550.10 Td (be ) Tj ET Q q 0 0 0 rg BT 284.52 550.10 Td (brought ) Tj ET Q q 0 0 0 rg BT 318.36 550.10 Td (by ) Tj ET Q q 0 0 0 rg BT 331.10 550.10 Td (our ) Tj ET Q q 0 0 0 rg BT 347.17 550.10 Td (policyholders. ) Tj ET Q q 0 0 0 rg BT 406.64 550.10 Td (While ) Tj ET Q q 0 0 0 rg BT 433.81 550.10 Td (these ) Tj ET Q q 0 0 0 rg BT 457.09 550.10 Td (exclusions ) Tj ET Q q 0 0 0 rg BT 502.05 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 519.22 550.10 Td (limitations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (help ) Tj ET Q q 0 0 0 rg BT 69.85 538.10 Td (us ) Tj ET Q q 0 0 0 rg BT 81.38 538.10 Td (assess ) Tj ET Q q 0 0 0 rg BT 108.45 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 125.52 538.10 Td (control ) Tj ET Q q 0 0 0 rg BT 156.48 538.10 Td (our ) Tj ET Q q 0 0 0 rg BT 172.45 538.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 190.64 538.10 Td (exposure, ) Tj ET Q q 0 0 0 rg BT 231.87 538.10 Td (it ) Tj ET Q q 0 0 0 rg BT 240.06 538.10 Td (is ) Tj ET Q q 0 0 0 rg BT 249.37 538.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 284.78 538.10 Td (that ) Tj ET Q q 0 0 0 rg BT 302.41 538.10 Td (a ) Tj ET Q q 0 0 0 rg BT 309.48 538.10 Td (court ) Tj ET Q q 0 0 0 rg BT 332.66 538.10 Td (or ) Tj ET Q q 0 0 0 rg BT 343.62 538.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 387.35 538.10 Td (authority ) Tj ET Q q 0 0 0 rg BT 426.08 538.10 Td (could ) Tj ET Q q 0 0 0 rg BT 450.93 538.10 Td (nullify ) Tj ET Q q 0 0 0 rg BT 480.23 538.10 Td (or ) Tj ET Q q 0 0 0 rg BT 491.20 538.10 Td (void ) Tj ET Q q 0 0 0 rg BT 511.61 538.10 Td (an ) Tj ET Q q 0 0 0 rg BT 523.68 538.10 Td (exclusion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.58 526.10 Td (limitation, ) Tj ET Q q 0 0 0 rg BT 104.22 526.10 Td (or ) Tj ET Q q 0 0 0 rg BT 114.80 526.10 Td (legislation ) Tj ET Q q 0 0 0 rg BT 158.72 526.10 Td (could ) Tj ET Q q 0 0 0 rg BT 183.19 526.10 Td (be ) Tj ET Q q 0 0 0 rg BT 194.88 526.10 Td (enacted ) Tj ET Q q 0 0 0 rg BT 227.66 526.10 Td (modifying ) Tj ET Q q 0 0 0 rg BT 271.58 526.10 Td (or ) Tj ET Q q 0 0 0 rg BT 282.16 526.10 Td (barring ) Tj ET Q q 0 0 0 rg BT 313.29 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.76 526.10 Td (use ) Tj ET Q q 0 0 0 rg BT 343.34 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 353.93 526.10 Td (these ) Tj ET Q q 0 0 0 rg BT 376.72 526.10 Td (exclusions ) Tj ET Q q 0 0 0 rg BT 421.19 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 437.88 526.10 Td (limitations. ) Tj ET Q q 0 0 0 rg BT 485.25 526.10 Td (This ) Tj ET Q q 0 0 0 rg BT 505.28 526.10 Td (could ) Tj ET Q q 0 0 0 rg BT 529.75 526.10 Td (result ) Tj ET Q q 0 0 0 rg BT 554.22 526.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 77.90 514.10 Td (than ) Tj ET Q q 0 0 0 rg BT 97.48 514.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 143.70 514.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 169.95 514.10 Td (and ) Tj ET Q q 0 0 0 rg BT 186.75 514.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 215.21 514.10 Td (handling ) Tj ET Q q 0 0 0 rg BT 252.56 514.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 291.02 514.10 Td (by ) Tj ET Q q 0 0 0 rg BT 303.38 514.10 Td (extending ) Tj ET Q q 0 0 0 rg BT 345.17 514.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 383.61 514.10 Td (beyond ) Tj ET Q q 0 0 0 rg BT 415.40 514.10 Td (our ) Tj ET Q q 0 0 0 rg BT 431.09 514.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 485.10 514.10 Td (intent ) Tj ET Q q 0 0 0 rg BT 510.23 514.10 Td (or ) Tj ET Q q 0 0 0 rg BT 520.92 514.10 Td (increasing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.20 502.10 Td (number ) Tj ET Q q 0 0 0 rg BT 96.72 502.10 Td (or ) Tj ET Q q 0 0 0 rg BT 107.03 502.10 Td (size ) Tj ET Q q 0 0 0 rg BT 124.56 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 134.87 502.10 Td (claims, ) Tj ET Q q 0 0 0 rg BT 165.45 502.10 Td (which ) Tj ET Q q 0 0 0 rg BT 191.87 502.10 Td (could ) Tj ET Q q 0 0 0 rg BT 216.06 502.10 Td (have ) Tj ET Q q 0 0 0 rg BT 236.92 502.10 Td (a ) Tj ET Q q 0 0 0 rg BT 243.33 502.10 Td (material ) Tj ET Q q 0 0 0 rg BT 278.07 502.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 310.59 502.10 Td (ef) Tj ET Q q 0 0 0 rg BT 318.18 502.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 335.14 502.10 Td (on ) Tj ET Q q 0 0 0 rg BT 347.12 502.10 Td (our ) Tj ET Q q 0 0 0 rg BT 362.43 502.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 402.17 502.10 Td (results. ) Tj ET Q q 0 0 0 rg BT 432.76 502.10 Td (In ) Tj ET Q q 0 0 0 rg BT 443.07 502.10 Td (some ) Tj ET Q q 0 0 0 rg BT 466.16 502.10 Td (instances, ) Tj ET Q q 0 0 0 rg BT 507.29 502.10 Td (these ) Tj ET Q q 0 0 0 rg BT 529.82 502.10 Td (changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (may ) Tj ET Q q 0 0 0 rg BT 69.39 490.10 Td (not ) Tj ET Q q 0 0 0 rg BT 84.35 490.10 Td (become ) Tj ET Q q 0 0 0 rg BT 117.61 490.10 Td (apparent ) Tj ET Q q 0 0 0 rg BT 154.21 490.10 Td (until ) Tj ET Q q 0 0 0 rg BT 174.72 490.10 Td (some ) Tj ET Q q 0 0 0 rg BT 198.01 490.10 Td (time ) Tj ET Q q 0 0 0 rg BT 217.96 490.10 Td (after ) Tj ET Q q 0 0 0 rg BT 238.45 490.10 Td (we ) Tj ET Q q 0 0 0 rg BT 252.28 490.10 Td (have ) Tj ET Q q 0 0 0 rg BT 273.33 490.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 300.51 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 314.90 490.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 355.39 490.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 388.67 490.10 Td (that ) Tj ET Q q 0 0 0 rg BT 405.84 490.10 Td (are ) Tj ET Q q 0 0 0 rg BT 420.22 490.10 Td (af) Tj ET Q q 0 0 0 rg BT 427.81 490.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 454.41 490.10 Td (by ) Tj ET Q q 0 0 0 rg BT 466.59 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 480.98 490.10 Td (changes. ) Tj ET Q q 0 0 0 rg BT 517.38 490.10 Td (As ) Tj ET Q q 0 0 0 rg BT 530.67 490.10 Td (a ) Tj ET Q q 0 0 0 rg BT 537.28 490.10 Td (result, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 478.10 Td (full ) Tj ET Q q 0 0 0 rg BT 81.10 478.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 108.04 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 118.87 478.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 152.48 478.10 Td (under ) Tj ET Q q 0 0 0 rg BT 177.74 478.10 Td (our ) Tj ET Q q 0 0 0 rg BT 193.57 478.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 234.39 478.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 272.98 478.10 Td (may ) Tj ET Q q 0 0 0 rg BT 292.70 478.10 Td (not ) Tj ET Q q 0 0 0 rg BT 307.98 478.10 Td (be ) Tj ET Q q 0 0 0 rg BT 319.92 478.10 Td (known ) Tj ET Q q 0 0 0 rg BT 349.64 478.10 Td (for ) Tj ET Q q 0 0 0 rg BT 363.80 478.10 Td (many ) Tj ET Q q 0 0 0 rg BT 388.52 478.10 Td (years ) Tj ET Q q 0 0 0 rg BT 412.11 478.10 Td (after ) Tj ET Q q 0 0 0 rg BT 432.93 478.10 Td (a ) Tj ET Q q 0 0 0 rg BT 439.87 478.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 467.36 478.10 Td (is ) Tj ET Q q 0 0 0 rg BT 476.53 478.10 Td (issued.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.57 454.10 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 115.14 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 124.94 454.10 Td (severe ) Tj ET Q q 0 0 0 rg BT 151.94 454.10 Td (catastrophic ) Tj ET Q q 0 0 0 rg BT 203.96 454.10 Td (events ) Tj ET Q q 0 0 0 rg BT 230.98 454.10 Td (may ) Tj ET Q q 0 0 0 rg BT 249.66 454.10 Td (have ) Tj ET Q q 0 0 0 rg BT 270.56 454.10 Td (a ) Tj ET Q q 0 0 0 rg BT 277.03 454.10 Td (material ) Tj ET Q q 0 0 0 rg BT 312.94 454.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 345.50 454.10 Td (ef) Tj ET Q q 0 0 0 rg BT 353.09 454.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 369.54 454.10 Td (on ) Tj ET Q q 0 0 0 rg BT 381.57 454.10 Td (our ) Tj ET Q q 0 0 0 rg BT 397.49 454.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 436.18 454.10 Td (results ) Tj ET Q q 0 0 0 rg BT 464.88 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 481.91 454.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 520.60 454.10 Td (condition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 90.71 430.10 Td (our ) Tj ET Q q 0 0 0 rg BT 106.98 430.10 Td (business ) Tj ET Q q 0 0 0 rg BT 143.81 430.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 178.40 430.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 218.54 430.10 Td (precludes ) Tj ET Q q 0 0 0 rg BT 259.79 430.10 Td (us ) Tj ET Q q 0 0 0 rg BT 271.62 430.10 Td (from ) Tj ET Q q 0 0 0 rg BT 293.99 430.10 Td (writing ) Tj ET Q q 0 0 0 rg BT 325.81 430.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 370.96 430.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 407.78 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 419.05 430.10 Td (catastrophe ) Tj ET Q q 0 0 0 rg BT 467.52 430.10 Td (exposed ) Tj ET Q q 0 0 0 rg BT 503.22 430.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 542.55 430.10 Td (most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (property ) Tj ET Q q 0 0 0 rg BT 86.29 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 103.14 418.10 Td (casualty ) Tj ET Q q 0 0 0 rg BT 138.32 418.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 179.04 418.10 Td (contains ) Tj ET Q q 0 0 0 rg BT 214.78 418.10 Td (some ) Tj ET Q q 0 0 0 rg BT 238.30 418.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 276.81 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 287.00 418.10 Td (catastrophic ) Tj ET Q q 0 0 0 rg BT 337.72 418.10 Td (loss. ) Tj ET Q q 0 0 0 rg BT 358.02 418.10 Td (W) Tj ET Q q 0 0 0 rg BT 366.66 418.10 Td (e ) Tj ET Q q 0 0 0 rg BT 373.51 418.10 Td (have ) Tj ET Q q 0 0 0 rg BT 394.80 418.10 Td (only ) Tj ET Q q 0 0 0 rg BT 414.99 418.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 445.73 418.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 484.24 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 494.44 418.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 524.61 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 541.46 418.10 Td (man-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (made ) Tj ET Q q 0 0 0 rg BT 74.33 406.10 Td (disasters, ) Tj ET Q q 0 0 0 rg BT 113.94 406.10 Td (such ) Tj ET Q q 0 0 0 rg BT 134.94 406.10 Td (as ) Tj ET Q q 0 0 0 rg BT 145.94 406.10 Td (hurricane, ) Tj ET Q q 0 0 0 rg BT 188.86 406.10 Td (typhoon, ) Tj ET Q q 0 0 0 rg BT 226.81 406.10 Td (windstorm, ) Tj ET Q q 0 0 0 rg BT 274.76 406.10 Td (flood, ) Tj ET Q q 0 0 0 rg BT 301.04 406.10 Td (earthquake, ) Tj ET Q q 0 0 0 rg BT 350.07 406.10 Td (acts ) Tj ET Q q 0 0 0 rg BT 368.29 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 379.29 406.10 Td (war) Tj ET Q q 0 0 0 rg BT 393.88 406.10 Td (, ) Tj ET Q q 0 0 0 rg BT 399.05 406.10 Td (acts ) Tj ET Q q 0 0 0 rg BT 417.27 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 428.27 406.10 Td (terrorism ) Tj ET Q q 0 0 0 rg BT 467.60 406.10 Td (and ) Tj ET Q q 0 0 0 rg BT 484.71 406.10 Td (political ) Tj ET Q q 0 0 0 rg BT 520.15 406.10 Td (instability) Tj ET Q q 0 0 0 rg BT 559.50 406.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (While ) Tj ET Q q 0 0 0 rg BT 76.13 394.10 Td (we ) Tj ET Q q 0 0 0 rg BT 89.49 394.10 Td (carefully ) Tj ET Q q 0 0 0 rg BT 126.72 394.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 159.52 394.10 Td (our ) Tj ET Q q 0 0 0 rg BT 174.55 394.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 215.11 394.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 252.91 394.10 Td (to ) Tj ET Q q 0 0 0 rg BT 262.38 394.10 Td (catastrophes, ) Tj ET Q q 0 0 0 rg BT 316.01 394.10 Td (modeling ) Tj ET Q q 0 0 0 rg BT 355.48 394.10 Td (errors ) Tj ET Q q 0 0 0 rg BT 380.50 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 396.64 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 410.55 394.10 Td (incidence ) Tj ET Q q 0 0 0 rg BT 450.56 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 466.70 394.10 Td (severity ) Tj ET Q q 0 0 0 rg BT 500.05 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 510.08 394.10 Td (catastrophes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (such ) Tj ET Q q 0 0 0 rg BT 71.49 382.10 Td (as ) Tj ET Q q 0 0 0 rg BT 82.98 382.10 Td (hurricanes, ) Tj ET Q q 0 0 0 rg BT 130.28 382.10 Td (windstorms ) Tj ET Q q 0 0 0 rg BT 180.11 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 197.71 382.10 Td (lar) Tj ET Q q 0 0 0 rg BT 208.07 382.10 Td (ge-scale ) Tj ET Q q 0 0 0 rg BT 243.98 382.10 Td (terrorist ) Tj ET Q q 0 0 0 rg BT 278.80 382.10 Td (attacks ) Tj ET Q q 0 0 0 rg BT 309.72 382.10 Td (are ) Tj ET Q q 0 0 0 rg BT 325.08 382.10 Td (inherently ) Tj ET Q q 0 0 0 rg BT 368.78 382.10 Td (unpredictable, ) Tj ET Q q 0 0 0 rg BT 428.86 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 446.46 382.10 Td (our ) Tj ET Q q 0 0 0 rg BT 462.95 382.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 490.00 382.10 Td (from ) Tj ET Q q 0 0 0 rg BT 512.59 382.10 Td (catastrophes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (could ) Tj ET Q q 0 0 0 rg BT 74.89 370.10 Td (be ) Tj ET Q q 0 0 0 rg BT 87.01 370.10 Td (substantial. ) Tj ET Q q 0 0 0 rg BT 134.96 370.10 Td (In ) Tj ET Q q 0 0 0 rg BT 145.97 370.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 183.92 370.10 Td (it ) Tj ET Q q 0 0 0 rg BT 192.15 370.10 Td (is ) Tj ET Q q 0 0 0 rg BT 201.50 370.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 236.96 370.10 Td (we ) Tj ET Q q 0 0 0 rg BT 251.29 370.10 Td (may ) Tj ET Q q 0 0 0 rg BT 271.19 370.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 317.16 370.10 Td (an ) Tj ET Q q 0 0 0 rg BT 329.28 370.10 Td (unusual ) Tj ET Q q 0 0 0 rg BT 363.07 370.10 Td (frequency ) Tj ET Q q 0 0 0 rg BT 405.72 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 416.73 370.10 Td (smaller ) Tj ET Q q 0 0 0 rg BT 448.84 370.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 475.41 370.10 Td (in ) Tj ET Q q 0 0 0 rg BT 485.86 370.10 Td (a ) Tj ET Q q 0 0 0 rg BT 492.98 370.10 Td (particular ) Tj ET Q q 0 0 0 rg BT 533.96 370.10 Td (period. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (In ) Tj ET Q q 0 0 0 rg BT 61.35 358.10 Td (either ) Tj ET Q q 0 0 0 rg BT 87.14 358.10 Td (case, ) Tj ET Q q 0 0 0 rg BT 109.87 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 125.11 358.10 Td (consequences ) Tj ET Q q 0 0 0 rg BT 183.11 358.10 Td (could ) Tj ET Q q 0 0 0 rg BT 208.34 358.10 Td (be ) Tj ET Q q 0 0 0 rg BT 220.81 358.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 266.60 358.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 305.73 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 316.53 358.10 Td (our ) Tj ET Q q 0 0 0 rg BT 332.89 358.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 370.89 358.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 411.68 358.10 Td (or ) Tj ET Q q 0 0 0 rg BT 423.04 358.10 Td (results ) Tj ET Q q 0 0 0 rg BT 452.17 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 463.52 358.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 508.20 358.10 Td (for ) Tj ET Q q 0 0 0 rg BT 522.88 358.10 Td (any ) Tj ET Q q 0 0 0 rg BT 540.34 358.10 Td (fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 81.08 346.10 Td (or ) Tj ET Q q 0 0 0 rg BT 92.17 346.10 Td (year) Tj ET Q q 0 0 0 rg BT 108.97 346.10 Td (, ) Tj ET Q q 0 0 0 rg BT 114.23 346.10 Td (which ) Tj ET Q q 0 0 0 rg BT 141.43 346.10 Td (could ) Tj ET Q q 0 0 0 rg BT 166.41 346.10 Td (have ) Tj ET Q q 0 0 0 rg BT 188.05 346.10 Td (a ) Tj ET Q q 0 0 0 rg BT 195.24 346.10 Td (material ) Tj ET Q q 0 0 0 rg BT 230.76 346.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 264.06 346.10 Td (ef) Tj ET Q q 0 0 0 rg BT 271.65 346.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 289.39 346.10 Td (on ) Tj ET Q q 0 0 0 rg BT 302.15 346.10 Td (our ) Tj ET Q q 0 0 0 rg BT 318.25 346.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 346.56 346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 357.10 346.10 Td (write ) Tj ET Q q 0 0 0 rg BT 380.40 346.10 Td (new ) Tj ET Q q 0 0 0 rg BT 399.82 346.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 438.78 346.10 Td (These ) Tj ET Q q 0 0 0 rg BT 465.41 346.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 492.06 346.10 Td (could ) Tj ET Q q 0 0 0 rg BT 517.04 346.10 Td (deplete ) Tj ET Q q 0 0 0 rg BT 548.67 346.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (shareholders) Tj ET Q q 0 0 0 rg BT 103.13 334.10 Td ( ) Tj ET Q q 0 0 0 rg BT 105.85 334.10 Td (equity) Tj ET Q q 0 0 0 rg BT 130.19 334.10 Td (. ) Tj ET Q q 0 0 0 rg BT 135.42 334.10 Td (Increases ) Tj ET Q q 0 0 0 rg BT 175.33 334.10 Td (in ) Tj ET Q q 0 0 0 rg BT 185.83 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.77 334.10 Td (values ) Tj ET Q q 0 0 0 rg BT 229.04 334.10 Td (and ) Tj ET Q q 0 0 0 rg BT 246.20 334.10 Td (geographic ) Tj ET Q q 0 0 0 rg BT 293.35 334.10 Td (concentrations ) Tj ET Q q 0 0 0 rg BT 354.38 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 365.43 334.10 Td (insured ) Tj ET Q q 0 0 0 rg BT 397.60 334.10 Td (property ) Tj ET Q q 0 0 0 rg BT 434.19 334.10 Td (and ) Tj ET Q q 0 0 0 rg BT 451.35 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.29 334.10 Td (ef) Tj ET Q q 0 0 0 rg BT 473.88 334.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 495.48 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 506.53 334.10 Td (inflation ) Tj ET Q q 0 0 0 rg BT 543.14 334.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 84.84 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 95.80 322.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 136.74 322.10 Td (severity ) Tj ET Q q 0 0 0 rg BT 171.58 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.10 322.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 219.06 322.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 246.14 322.10 Td (from ) Tj ET Q q 0 0 0 rg BT 268.76 322.10 Td (catastrophic ) Tj ET Q q 0 0 0 rg BT 320.26 322.10 Td (events ) Tj ET Q q 0 0 0 rg BT 348.99 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 359.95 322.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 387.56 322.10 Td (years ) Tj ET Q q 0 0 0 rg BT 411.85 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 429.47 322.10 Td (we ) Tj ET Q q 0 0 0 rg BT 444.31 322.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 473.59 322.10 Td (that ) Tj ET Q q 0 0 0 rg BT 491.77 322.10 Td (those ) Tj ET Q q 0 0 0 rg BT 516.07 322.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 546.46 322.10 Td (will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 85.67 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 100.81 310.10 Td (severity ) Tj ET Q q 0 0 0 rg BT 135.39 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 146.64 310.10 Td (catastrophe ) Tj ET Q q 0 0 0 rg BT 195.09 310.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 221.90 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 232.60 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 247.73 310.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 277.03 310.10 Td (It ) Tj ET Q q 0 0 0 rg BT 286.06 310.10 Td (is ) Tj ET Q q 0 0 0 rg BT 295.65 310.10 Td (also ) Tj ET Q q 0 0 0 rg BT 314.68 310.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 350.38 310.10 Td (that ) Tj ET Q q 0 0 0 rg BT 368.29 310.10 Td (catastrophic ) Tj ET Q q 0 0 0 rg BT 419.52 310.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 446.33 310.10 Td (could ) Tj ET Q q 0 0 0 rg BT 471.47 310.10 Td (have ) Tj ET Q q 0 0 0 rg BT 493.27 310.10 Td (an ) Tj ET Q q 0 0 0 rg BT 505.63 310.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 535.76 310.10 Td (on ) Tj ET Q q 0 0 0 rg BT 548.68 310.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 96.38 298.10 Td (portfolio.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (The ) Tj ET Q q 0 0 0 rg BT 69.49 274.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 88.44 274.10 Td (models ) Tj ET Q q 0 0 0 rg BT 120.71 274.10 Td (we ) Tj ET Q q 0 0 0 rg BT 135.21 274.10 Td (use ) Tj ET Q q 0 0 0 rg BT 152.48 274.10 Td (to ) Tj ET Q q 0 0 0 rg BT 163.65 274.10 Td (quantify ) Tj ET Q q 0 0 0 rg BT 201.48 274.10 Td (catastrophe ) Tj ET Q q 0 0 0 rg BT 252.64 274.10 Td (exposures ) Tj ET Q q 0 0 0 rg BT 297.14 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 316.09 274.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 335.04 274.10 Td (accumulations ) Tj ET Q q 0 0 0 rg BT 398.99 274.10 Td (may ) Tj ET Q q 0 0 0 rg BT 419.59 274.10 Td (prove ) Tj ET Q q 0 0 0 rg BT 445.74 274.10 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 494.69 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 506.41 274.10 Td (predicting ) Tj ET Q q 0 0 0 rg BT 551.46 274.10 Td (all ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (outcomes ) Tj ET Q q 0 0 0 rg BT 91.39 262.10 Td (from ) Tj ET Q q 0 0 0 rg BT 113.89 262.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 152.50 262.10 Td (catastrophe ) Tj ET Q q 0 0 0 rg BT 202.78 262.10 Td (events. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 238.10 Td (e ) Tj ET Q q 0 0 0 rg BT 66.18 238.10 Td (rely ) Tj ET Q q 0 0 0 rg BT 84.83 238.10 Td (on ) Tj ET Q q 0 0 0 rg BT 97.94 238.10 Td (widely ) Tj ET Q q 0 0 0 rg BT 128.26 238.10 Td (accepted ) Tj ET Q q 0 0 0 rg BT 166.34 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 183.88 238.10 Td (industry-recognized ) Tj ET Q q 0 0 0 rg BT 266.96 238.10 Td (catastrophe ) Tj ET Q q 0 0 0 rg BT 315.60 238.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 333.70 238.10 Td (modeling, ) Tj ET Q q 0 0 0 rg BT 377.08 238.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 417.40 238.10 Td (in ) Tj ET Q q 0 0 0 rg BT 428.28 238.10 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 478.60 238.10 Td (with ) Tj ET Q q 0 0 0 rg BT 499.48 238.10 Td (our ) Tj ET Q q 0 0 0 rg BT 515.92 238.10 Td (reinsurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (partners, ) Tj ET Q q 0 0 0 rg BT 87.10 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.49 226.10 Td (to ) Tj ET Q q 0 0 0 rg BT 99.65 226.10 Td (help ) Tj ET Q q 0 0 0 rg BT 119.26 226.10 Td (us ) Tj ET Q q 0 0 0 rg BT 130.54 226.10 Td (quantify ) Tj ET Q q 0 0 0 rg BT 166.25 226.10 Td (our ) Tj ET Q q 0 0 0 rg BT 181.97 226.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 223.22 226.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 261.71 226.10 Td (to ) Tj ET Q q 0 0 0 rg BT 271.88 226.10 Td (any ) Tj ET Q q 0 0 0 rg BT 288.71 226.10 Td (one ) Tj ET Q q 0 0 0 rg BT 305.54 226.10 Td (event. ) Tj ET Q q 0 0 0 rg BT 331.55 226.10 Td (As ) Tj ET Q q 0 0 0 rg BT 345.05 226.10 Td (with ) Tj ET Q q 0 0 0 rg BT 365.22 226.10 Td (any ) Tj ET Q q 0 0 0 rg BT 382.05 226.10 Td (model ) Tj ET Q q 0 0 0 rg BT 409.43 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 420.15 226.10 Td (physical ) Tj ET Q q 0 0 0 rg BT 455.87 226.10 Td (systems, ) Tj ET Q q 0 0 0 rg BT 492.43 226.10 Td (particularly ) Tj ET Q q 0 0 0 rg BT 540.90 226.10 Td (those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (with ) Tj ET Q q 0 0 0 rg BT 70.36 214.10 Td (low ) Tj ET Q q 0 0 0 rg BT 87.95 214.10 Td (frequencies ) Tj ET Q q 0 0 0 rg BT 136.62 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 147.53 214.10 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 193.97 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 210.99 214.10 Td (potentially ) Tj ET Q q 0 0 0 rg BT 256.34 214.10 Td (high ) Tj ET Q q 0 0 0 rg BT 276.71 214.10 Td (severity ) Tj ET Q q 0 0 0 rg BT 310.95 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 321.86 214.10 Td (outcomes, ) Tj ET Q q 0 0 0 rg BT 365.27 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 380.07 214.10 Td (accuracy ) Tj ET Q q 0 0 0 rg BT 418.18 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 429.09 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 443.89 214.10 Td (model) Tj ET Q q 0 0 0 rg BT 471.67 214.10 Td (s ) Tj ET Q q 0 0 0 rg BT 478.14 214.10 Td (predictions ) Tj ET Q q 0 0 0 rg BT 525.16 214.10 Td (is ) Tj ET Q q 0 0 0 rg BT 534.42 214.10 Td (lar) Tj ET Q q 0 0 0 rg BT 544.78 214.10 Td (gely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (dependent ) Tj ET Q q 0 0 0 rg BT 93.56 202.10 Td (on ) Tj ET Q q 0 0 0 rg BT 106.03 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 120.72 202.10 Td (accuracy ) Tj ET Q q 0 0 0 rg BT 158.71 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 175.62 202.10 Td (quality ) Tj ET Q q 0 0 0 rg BT 205.86 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 216.66 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 231.35 202.10 Td (data ) Tj ET Q q 0 0 0 rg BT 250.47 202.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 288.49 202.10 Td (in ) Tj ET Q q 0 0 0 rg BT 298.74 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 313.43 202.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 367.55 202.10 Td (process ) Tj ET Q q 0 0 0 rg BT 400.01 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 416.92 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 431.61 202.10 Td (judgments ) Tj ET Q q 0 0 0 rg BT 475.74 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 486.54 202.10 Td (our ) Tj ET Q q 0 0 0 rg BT 502.34 202.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 547.57 202.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (other ) Tj ET Q q 0 0 0 rg BT 72.79 190.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 107.81 190.10 Td (professionals. ) Tj ET Q q 0 0 0 rg BT 165.15 190.10 Td (These ) Tj ET Q q 0 0 0 rg BT 191.27 190.10 Td (models ) Tj ET Q q 0 0 0 rg BT 222.40 190.10 Td (do ) Tj ET Q q 0 0 0 rg BT 234.64 190.10 Td (not ) Tj ET Q q 0 0 0 rg BT 249.66 190.10 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 290.76 190.10 Td (all ) Tj ET Q q 0 0 0 rg BT 303.00 190.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 340.23 190.10 Td (perils ) Tj ET Q q 0 0 0 rg BT 364.69 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 375.26 190.10 Td (events ) Tj ET Q q 0 0 0 rg BT 403.04 190.10 Td (that ) Tj ET Q q 0 0 0 rg BT 420.28 190.10 Td (could ) Tj ET Q q 0 0 0 rg BT 444.74 190.10 Td (result ) Tj ET Q q 0 0 0 rg BT 469.19 190.10 Td (in ) Tj ET Q q 0 0 0 rg BT 479.21 190.10 Td (a ) Tj ET Q q 0 0 0 rg BT 485.89 190.10 Td (catastrophic ) Tj ET Q q 0 0 0 rg BT 536.44 190.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 554.24 190.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (us. ) Tj ET Q q 0 0 0 rg BT 63.75 178.10 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 118.60 178.10 Td (it ) Tj ET Q q 0 0 0 rg BT 126.52 178.10 Td (is ) Tj ET Q q 0 0 0 rg BT 135.55 178.10 Td (often ) Tj ET Q q 0 0 0 rg BT 158.45 178.10 Td (dif) Tj ET Q q 0 0 0 rg BT 169.38 178.10 Td (ficult ) Tj ET Q q 0 0 0 rg BT 192.85 178.10 Td (for ) Tj ET Q q 0 0 0 rg BT 206.87 178.10 Td (models ) Tj ET Q q 0 0 0 rg BT 238.12 178.10 Td (to ) Tj ET Q q 0 0 0 rg BT 248.25 178.10 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 289.48 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 306.28 178.10 Td (incorporate ) Tj ET Q q 0 0 0 rg BT 354.17 178.10 Td (events ) Tj ET Q q 0 0 0 rg BT 382.08 178.10 Td (that ) Tj ET Q q 0 0 0 rg BT 399.44 178.10 Td (have ) Tj ET Q q 0 0 0 rg BT 420.68 178.10 Td (not ) Tj ET Q q 0 0 0 rg BT 435.82 178.10 Td (been ) Tj ET Q q 0 0 0 rg BT 457.05 178.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 507.71 178.10 Td (during ) Tj ET Q q 0 0 0 rg BT 536.18 178.10 Td (or ) Tj ET Q q 0 0 0 rg BT 546.88 178.10 Td (as ) Tj ET Q q 0 0 0 rg BT 557.57 178.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (result ) Tj ET Q q 0 0 0 rg BT 74.20 166.10 Td (of ) Tj ET Q q 0 0 0 rg BT 84.51 166.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 105.93 166.10 Td (catastrophes. ) Tj ET Q q 0 0 0 rg BT 159.39 166.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 208.73 166.10 Td (, ) Tj ET Q q 0 0 0 rg BT 213.21 166.10 Td (it ) Tj ET Q q 0 0 0 rg BT 220.74 166.10 Td (is ) Tj ET Q q 0 0 0 rg BT 229.39 166.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 264.15 166.10 Td (for ) Tj ET Q q 0 0 0 rg BT 277.79 166.10 Td (us ) Tj ET Q q 0 0 0 rg BT 288.66 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 298.42 166.10 Td (be ) Tj ET Q q 0 0 0 rg BT 309.84 166.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 340.15 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 349.90 166.10 Td (events ) Tj ET Q q 0 0 0 rg BT 377.43 166.10 Td (or ) Tj ET Q q 0 0 0 rg BT 387.74 166.10 Td (contingencies ) Tj ET Q q 0 0 0 rg BT 444.70 166.10 Td (that ) Tj ET Q q 0 0 0 rg BT 461.68 166.10 Td (have ) Tj ET Q q 0 0 0 rg BT 482.53 166.10 Td (not ) Tj ET Q q 0 0 0 rg BT 497.29 166.10 Td (been ) Tj ET Q q 0 0 0 rg BT 518.15 166.10 Td (anticipated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (by ) Tj ET Q q 0 0 0 rg BT 62.50 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 78.33 154.10 Td (catastrophe ) Tj ET Q q 0 0 0 rg BT 126.36 154.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 143.86 154.10 Td (models ) Tj ET Q q 0 0 0 rg BT 175.25 154.10 Td (and ) Tj ET Q q 0 0 0 rg BT 192.19 154.10 Td (which ) Tj ET Q q 0 0 0 rg BT 219.13 154.10 Td (could ) Tj ET Q q 0 0 0 rg BT 243.84 154.10 Td (have ) Tj ET Q q 0 0 0 rg BT 265.22 154.10 Td (a ) Tj ET Q q 0 0 0 rg BT 272.16 154.10 Td (material ) Tj ET Q q 0 0 0 rg BT 307.42 154.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 340.45 154.10 Td (ef) Tj ET Q q 0 0 0 rg BT 348.04 154.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 365.53 154.10 Td (on ) Tj ET Q q 0 0 0 rg BT 378.03 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 393.86 154.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 429.12 154.10 Td (and ) Tj ET Q q 0 0 0 rg BT 446.05 154.10 Td (results ) Tj ET Q q 0 0 0 rg BT 474.66 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 485.49 154.10 Td (operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 92.50 118.10 Td (Risks) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 94.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.53 94.10 Td (are ) Tj ET Q q 0 0 0 rg BT 81.80 94.10 Td (a ) Tj ET Q q 0 0 0 rg BT 89.74 94.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 124.36 94.10 Td (company ) Tj ET Q q 0 0 0 rg BT 164.52 94.10 Td (dependent ) Tj ET Q q 0 0 0 rg BT 209.68 94.10 Td (on ) Tj ET Q q 0 0 0 rg BT 223.18 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 238.90 94.10 Td (results ) Tj ET Q q 0 0 0 rg BT 269.07 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 280.34 94.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 326.62 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 337.89 94.10 Td (our ) Tj ET Q q 0 0 0 rg BT 355.29 94.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 407.13 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 425.63 94.10 Td (their ) Tj ET Q q 0 0 0 rg BT 448.02 94.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 476.51 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 487.23 94.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 504.61 94.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 546.44 94.10 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (other ) Tj ET Q q 0 0 0 rg BT 74.17 82.10 Td (distributions ) Tj ET Q q 0 0 0 rg BT 128.36 82.10 Td (to ) Tj ET Q q 0 0 0 rg BT 138.64 82.10 Td (us.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.83 58.10 Td (is ) Tj ET Q q 0 0 0 rg BT 83.22 58.10 Td (a ) Tj ET Q q 0 0 0 rg BT 90.38 58.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 123.66 58.10 Td (company ) Tj ET Q q 0 0 0 rg BT 163.03 58.10 Td (with ) Tj ET Q q 0 0 0 rg BT 183.53 58.10 Td (no ) Tj ET Q q 0 0 0 rg BT 196.26 58.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 241.19 58.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 285.56 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 296.62 58.10 Td (its ) Tj ET Q q 0 0 0 rg BT 308.79 58.10 Td (own ) Tj ET Q q 0 0 0 rg BT 328.73 58.10 Td (and ) Tj ET Q q 0 0 0 rg BT 345.89 58.10 Td (a ) Tj ET Q q 0 0 0 rg BT 353.05 58.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 375.20 58.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 400.70 58.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 436.17 58.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.33 58.10 Td (distinct ) Tj ET Q q 0 0 0 rg BT 485.50 58.10 Td (from ) Tj ET Q q 0 0 0 rg BT 507.66 58.10 Td (our ) Tj ET Q q 0 0 0 rg BT 523.71 58.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 101.28 46.10 Td (As ) Tj ET Q q 0 0 0 rg BT 114.41 46.10 Td (a ) Tj ET Q q 0 0 0 rg BT 120.86 46.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 147.59 46.10 Td (our ) Tj ET Q q 0 0 0 rg BT 162.93 46.10 Td (only ) Tj ET Q q 0 0 0 rg BT 182.72 46.10 Td (sources ) Tj ET Q q 0 0 0 rg BT 214.72 46.10 Td (of ) Tj ET Q q 0 0 0 rg BT 225.06 46.10 Td (income ) Tj ET Q q 0 0 0 rg BT 256.51 46.10 Td (are ) Tj ET Q q 0 0 0 rg BT 270.73 46.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 311.63 46.10 Td (and ) Tj ET Q q 0 0 0 rg BT 328.08 46.10 Td (other ) Tj ET Q q 0 0 0 rg BT 350.64 46.10 Td (distributions ) Tj ET Q q 0 0 0 rg BT 402.65 46.10 Td (from ) Tj ET Q q 0 0 0 rg BT 424.10 46.10 Td (our ) Tj ET Q q 0 0 0 rg BT 439.44 46.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 479.77 46.10 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 531.35 46.10 Td (W) Tj ET Q q 0 0 0 rg BT 539.99 46.10 Td (e ) Tj ET Q q 0 0 0 rg BT 546.44 46.10 Td (will ) Tj ET Q endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (be ) Tj ET Q q 0 0 0 rg BT 61.17 742.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 91.24 742.10 Td (by ) Tj ET Q q 0 0 0 rg BT 102.97 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 116.92 742.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 152.54 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 162.60 742.10 Td (those ) Tj ET Q q 0 0 0 rg BT 185.44 742.10 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 236.90 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 253.07 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 267.02 742.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 314.87 742.10 Td (or ) Tj ET Q q 0 0 0 rg BT 324.93 742.10 Td (other ) Tj ET Q q 0 0 0 rg BT 347.22 742.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 383.38 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 393.45 742.10 Td (such ) Tj ET Q q 0 0 0 rg BT 413.51 742.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 449.13 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 458.64 742.10 Td (it ) Tj ET Q q 0 0 0 rg BT 465.93 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 475.44 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 489.40 742.10 Td (form ) Tj ET Q q 0 0 0 rg BT 510.57 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 520.63 742.10 Td (dividends, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (loans, ) Tj ET Q q 0 0 0 rg BT 78.14 730.10 Td (advances ) Tj ET Q q 0 0 0 rg BT 119.33 730.10 Td (or ) Tj ET Q q 0 0 0 rg BT 132.19 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 148.94 730.10 Td (reimbursement ) Tj ET Q q 0 0 0 rg BT 213.46 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 226.33 730.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 269.13 730.10 Td (The ) Tj ET Q q 0 0 0 rg BT 289.21 730.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 328.18 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 341.05 730.10 Td (dividends, ) Tj ET Q q 0 0 0 rg BT 386.97 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 403.72 730.10 Td (making ) Tj ET Q q 0 0 0 rg BT 438.25 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 451.12 730.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 476.76 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 495.74 730.10 Td (advances ) Tj ET Q q 0 0 0 rg BT 536.92 730.10 Td (or ) Tj ET Q q 0 0 0 rg BT 549.79 730.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (reimbursement ) Tj ET Q q 0 0 0 rg BT 112.75 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 123.86 718.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 162.73 718.10 Td (by ) Tj ET Q q 0 0 0 rg BT 175.50 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 191.60 718.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 232.69 718.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 282.68 718.10 Td (is ) Tj ET Q q 0 0 0 rg BT 292.12 718.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 337.11 718.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 359.88 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 374.87 718.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 411.52 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 422.62 718.10 Td (those ) Tj ET Q q 0 0 0 rg BT 446.50 718.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 496.49 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 513.70 718.10 Td (is ) Tj ET Q q 0 0 0 rg BT 523.14 718.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 554.24 718.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (various ) Tj ET Q q 0 0 0 rg BT 81.48 706.10 Td (business ) Tj ET Q q 0 0 0 rg BT 117.42 706.10 Td (considerations ) Tj ET Q q 0 0 0 rg BT 177.22 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 193.70 706.10 Td (various ) Tj ET Q q 0 0 0 rg BT 225.18 706.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 262.22 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 278.70 706.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 321.84 706.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 368.31 706.10 Td (imposed ) Tj ET Q q 0 0 0 rg BT 404.24 706.10 Td (by ) Tj ET Q q 0 0 0 rg BT 416.29 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.54 706.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 470.90 706.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 491.28 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.65 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 515.91 706.10 Td (domiciliary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (jurisdiction ) Tj ET Q q 0 0 0 rg BT 98.04 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 108.86 694.10 Td (such ) Tj ET Q q 0 0 0 rg BT 129.68 694.10 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 181.89 694.10 Td (In ) Tj ET Q q 0 0 0 rg BT 192.71 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 207.41 694.10 Td (states ) Tj ET Q q 0 0 0 rg BT 232.12 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 242.94 694.10 Td (domicile ) Tj ET Q q 0 0 0 rg BT 280.42 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 290.69 694.10 Td (American ) Tj ET Q q 0 0 0 rg BT 332.60 694.10 Td (Service, ) Tj ET Q q 0 0 0 rg BT 367.02 694.10 Td (American ) Tj ET Q q 0 0 0 rg BT 408.94 694.10 Td (Country) Tj ET Q q 0 0 0 rg BT 441.07 694.10 Td (, ) Tj ET Q q 0 0 0 rg BT 446.05 694.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 484.08 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 501.01 694.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 530.71 694.10 Td (Liberty) Tj ET Q q 0 0 0 rg BT 559.50 694.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 91.79 682.10 Td (may ) Tj ET Q q 0 0 0 rg BT 111.90 682.10 Td (only ) Tj ET Q q 0 0 0 rg BT 132.58 682.10 Td (be ) Tj ET Q q 0 0 0 rg BT 144.92 682.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 165.03 682.10 Td (out ) Tj ET Q q 0 0 0 rg BT 180.71 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 191.94 682.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 221.49 682.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 253.28 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 270.62 682.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 300.17 682.10 Td (be ) Tj ET Q q 0 0 0 rg BT 312.51 682.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 332.62 682.10 Td (when ) Tj ET Q q 0 0 0 rg BT 357.18 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 372.30 682.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 404.09 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 415.32 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.44 682.10 Td (company ) Tj ET Q q 0 0 0 rg BT 469.99 682.10 Td (fails ) Tj ET Q q 0 0 0 rg BT 490.11 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 500.79 682.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 523.12 682.10 Td (minimum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 105.17 670.10 Td (or ) Tj ET Q q 0 0 0 rg BT 116.48 670.10 Td (when ) Tj ET Q q 0 0 0 rg BT 141.11 670.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 178.52 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 189.82 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 205.01 670.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 242.98 670.10 Td (or ) Tj ET Q q 0 0 0 rg BT 254.28 670.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 303.37 670.10 Td (would ) Tj ET Q q 0 0 0 rg BT 331.34 670.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 360.96 670.10 Td (its ) Tj ET Q q 0 0 0 rg BT 373.38 670.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 405.24 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 415.99 670.10 Td (less ) Tj ET Q q 0 0 0 rg BT 433.96 670.10 Td (than ) Tj ET Q q 0 0 0 rg BT 454.15 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 469.34 670.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 511.21 670.10 Td (amount. ) Tj ET Q q 0 0 0 rg BT 546.46 670.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (state ) Tj ET Q q 0 0 0 rg BT 71.07 658.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 112.13 658.10 Td (regulator ) Tj ET Q q 0 0 0 rg BT 150.97 658.10 Td (must ) Tj ET Q q 0 0 0 rg BT 173.17 658.10 Td (be ) Tj ET Q q 0 0 0 rg BT 185.35 658.10 Td (notified ) Tj ET Q q 0 0 0 rg BT 219.20 658.10 Td (in ) Tj ET Q q 0 0 0 rg BT 229.72 658.10 Td (advance ) Tj ET Q q 0 0 0 rg BT 265.22 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 276.30 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 291.26 658.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 328.44 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 339.51 658.10 Td (an ) Tj ET Q q 0 0 0 rg BT 351.70 658.10 Td (extraordinary ) Tj ET Q q 0 0 0 rg BT 408.31 658.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 446.05 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 463.23 658.10 Td (be ) Tj ET Q q 0 0 0 rg BT 475.42 658.10 Td (given ) Tj ET Q q 0 0 0 rg BT 500.38 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 515.34 658.10 Td (opportunity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.88 646.10 Td (disapprove ) Tj ET Q q 0 0 0 rg BT 105.86 646.10 Td (any ) Tj ET Q q 0 0 0 rg BT 122.40 646.10 Td (such ) Tj ET Q q 0 0 0 rg BT 142.83 646.10 Td (dividend. ) Tj ET Q q 0 0 0 rg BT 182.42 646.10 Td (Prior ) Tj ET Q q 0 0 0 rg BT 204.53 646.10 Td (to ) Tj ET Q q 0 0 0 rg BT 214.40 646.10 Td (entering ) Tj ET Q q 0 0 0 rg BT 249.27 646.10 Td (into ) Tj ET Q q 0 0 0 rg BT 266.93 646.10 Td (any ) Tj ET Q q 0 0 0 rg BT 283.47 646.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 302.78 646.10 Td (or ) Tj ET Q q 0 0 0 rg BT 313.22 646.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 342.52 646.10 Td (other ) Tj ET Q q 0 0 0 rg BT 365.17 646.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 412.80 646.10 Td (between ) Tj ET Q q 0 0 0 rg BT 448.22 646.10 Td (one ) Tj ET Q q 0 0 0 rg BT 464.76 646.10 Td (or ) Tj ET Q q 0 0 0 rg BT 475.19 646.10 Td (more ) Tj ET Q q 0 0 0 rg BT 497.84 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 508.27 646.10 Td (our ) Tj ET Q q 0 0 0 rg BT 523.70 646.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 99.90 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 116.43 634.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 140.22 634.10 Td (or ) Tj ET Q q 0 0 0 rg BT 151.24 634.10 Td (our ) Tj ET Q q 0 0 0 rg BT 167.25 634.10 Td (other ) Tj ET Q q 0 0 0 rg BT 190.49 634.10 Td (af) Tj ET Q q 0 0 0 rg BT 198.07 634.10 Td (filiates, ) Tj ET Q q 0 0 0 rg BT 230.47 634.10 Td (advance ) Tj ET Q q 0 0 0 rg BT 265.91 634.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 293.03 634.10 Td (must ) Tj ET Q q 0 0 0 rg BT 315.16 634.10 Td (be ) Tj ET Q q 0 0 0 rg BT 327.28 634.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 365.51 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 375.98 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 390.88 634.10 Td (state ) Tj ET Q q 0 0 0 rg BT 411.89 634.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 452.89 634.10 Td (regulator ) Tj ET Q q 0 0 0 rg BT 491.67 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 508.79 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.69 634.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (regulator ) Tj ET Q q 0 0 0 rg BT 89.37 622.10 Td (has ) Tj ET Q q 0 0 0 rg BT 105.98 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 121.48 622.10 Td (opportunity ) Tj ET Q q 0 0 0 rg BT 171.42 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 182.48 622.10 Td (disapprove ) Tj ET Q q 0 0 0 rg BT 229.63 622.10 Td (such ) Tj ET Q q 0 0 0 rg BT 251.24 622.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 271.74 622.10 Td (or ) Tj ET Q q 0 0 0 rg BT 283.35 622.10 Td (agreement. ) Tj ET Q q 0 0 0 rg BT 330.77 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 333.32 622.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 383.22 622.10 Td (, ) Tj ET Q q 0 0 0 rg BT 389.00 622.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 430.60 622.10 Td (regulators ) Tj ET Q q 0 0 0 rg BT 473.86 622.10 Td (have ) Tj ET Q q 0 0 0 rg BT 496.02 622.10 Td (broad ) Tj ET Q q 0 0 0 rg BT 522.06 622.10 Td (powers ) Tj ET Q q 0 0 0 rg BT 554.23 622.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (prevent ) Tj ET Q q 0 0 0 rg BT 81.42 610.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 120.61 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 130.37 610.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 166.80 610.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 194.88 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 210.75 610.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 241.07 610.10 Td (to ) Tj ET Q q 0 0 0 rg BT 250.28 610.10 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 295.02 610.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 319.78 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 335.64 610.10 Td (could ) Tj ET Q q 0 0 0 rg BT 359.29 610.10 Td (refuse ) Tj ET Q q 0 0 0 rg BT 385.15 610.10 Td (to ) Tj ET Q q 0 0 0 rg BT 394.36 610.10 Td (permit ) Tj ET Q q 0 0 0 rg BT 421.89 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 435.54 610.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 471.41 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 481.17 610.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 521.48 610.10 Td (calculated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (under ) Tj ET Q q 0 0 0 rg BT 76.11 598.10 Td (any ) Tj ET Q q 0 0 0 rg BT 93.88 598.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 138.31 598.10 Td (formula. ) Tj ET Q q 0 0 0 rg BT 175.07 598.10 Td (As ) Tj ET Q q 0 0 0 rg BT 189.52 598.10 Td (a ) Tj ET Q q 0 0 0 rg BT 197.30 598.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 225.35 598.10 Td (we ) Tj ET Q q 0 0 0 rg BT 240.35 598.10 Td (may ) Tj ET Q q 0 0 0 rg BT 260.91 598.10 Td (not ) Tj ET Q q 0 0 0 rg BT 277.03 598.10 Td (be ) Tj ET Q q 0 0 0 rg BT 289.80 598.10 Td (able ) Tj ET Q q 0 0 0 rg BT 309.80 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 320.92 598.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 353.12 598.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 395.34 598.10 Td (or ) Tj ET Q q 0 0 0 rg BT 407.01 598.10 Td (other ) Tj ET Q q 0 0 0 rg BT 430.90 598.10 Td (distributions ) Tj ET Q q 0 0 0 rg BT 484.24 598.10 Td (from ) Tj ET Q q 0 0 0 rg BT 507.02 598.10 Td (our ) Tj ET Q q 0 0 0 rg BT 523.69 598.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 99.70 586.10 Td (at ) Tj ET Q q 0 0 0 rg BT 109.40 586.10 Td (times ) Tj ET Q q 0 0 0 rg BT 133.54 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 150.46 586.10 Td (in ) Tj ET Q q 0 0 0 rg BT 160.73 586.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 197.09 586.10 Td (necessary ) Tj ET Q q 0 0 0 rg BT 238.44 586.10 Td (to ) Tj ET Q q 0 0 0 rg BT 248.70 586.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 270.62 586.10 Td (our ) Tj ET Q q 0 0 0 rg BT 286.43 586.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 326.68 586.10 Td (needs, ) Tj ET Q q 0 0 0 rg BT 354.43 586.10 Td (to ) Tj ET Q q 0 0 0 rg BT 364.69 586.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 381.61 586.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 422.98 586.10 Td (to ) Tj ET Q q 0 0 0 rg BT 433.24 586.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 486.26 586.10 Td (or ) Tj ET Q q 0 0 0 rg BT 497.07 586.10 Td (to ) Tj ET Q q 0 0 0 rg BT 507.33 586.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 524.25 586.10 Td (corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 91.02 574.10 Td (The ) Tj ET Q q 0 0 0 rg BT 109.19 574.10 Td (inability ) Tj ET Q q 0 0 0 rg BT 145.13 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.08 574.10 Td (our ) Tj ET Q q 0 0 0 rg BT 172.02 574.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 212.95 574.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 262.78 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 273.18 574.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 290.23 574.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 331.73 574.10 Td (or ) Tj ET Q q 0 0 0 rg BT 342.67 574.10 Td (make ) Tj ET Q q 0 0 0 rg BT 366.94 574.10 Td (other ) Tj ET Q q 0 0 0 rg BT 390.11 574.10 Td (distributions ) Tj ET Q q 0 0 0 rg BT 442.73 574.10 Td (could ) Tj ET Q q 0 0 0 rg BT 467.56 574.10 Td (have ) Tj ET Q q 0 0 0 rg BT 489.05 574.10 Td (a ) Tj ET Q q 0 0 0 rg BT 496.10 574.10 Td (material ) Tj ET Q q 0 0 0 rg BT 531.48 574.10 Td (adverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 562.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 75.07 562.10 Td (on ) Tj ET Q q 0 0 0 rg BT 87.57 562.10 Td (our ) Tj ET Q q 0 0 0 rg BT 103.40 562.10 Td (business ) Tj ET Q q 0 0 0 rg BT 139.79 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 156.73 562.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 194.21 562.10 Td (condition.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.76 538.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 111.97 538.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 162.95 538.10 Td (are ) Tj ET Q q 0 0 0 rg BT 178.37 538.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 209.34 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 219.20 538.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 261.30 538.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 291.15 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 308.80 538.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 341.46 538.10 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 400.49 538.10 Td (Failure ) Tj ET Q q 0 0 0 rg BT 433.69 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 443.56 538.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 465.07 538.10 Td (these ) Tj ET Q q 0 0 0 rg BT 488.27 538.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 544.80 538.10 Td (may ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 81.39 526.10 Td (us ) Tj ET Q q 0 0 0 rg BT 93.34 526.10 Td (to ) Tj ET Q q 0 0 0 rg BT 103.62 526.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 148.90 526.10 Td (action.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 75.37 502.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 116.14 502.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 165.81 502.10 Td (are ) Tj ET Q q 0 0 0 rg BT 180.47 502.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 211.25 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 221.49 502.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 262.84 502.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 291.94 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 308.84 502.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 340.19 502.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 394.84 502.10 Td (imposed ) Tj ET Q q 0 0 0 rg BT 431.19 502.10 Td (under ) Tj ET Q q 0 0 0 rg BT 456.41 502.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 477.20 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 487.98 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 502.66 502.10 Td (states ) Tj ET Q q 0 0 0 rg BT 527.33 502.10 Td (in ) Tj ET Q q 0 0 0 rg BT 537.56 502.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.50 490.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 109.54 490.10 Td (are ) Tj ET Q q 0 0 0 rg BT 124.03 490.10 Td (domiciled ) Tj ET Q q 0 0 0 rg BT 166.30 490.10 Td (as ) Tj ET Q q 0 0 0 rg BT 176.91 490.10 Td (well ) Tj ET Q q 0 0 0 rg BT 196.41 490.10 Td (as ) Tj ET Q q 0 0 0 rg BT 207.02 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 217.08 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 231.57 490.10 Td (states ) Tj ET Q q 0 0 0 rg BT 256.07 490.10 Td (where ) Tj ET Q q 0 0 0 rg BT 282.78 490.10 Td (we ) Tj ET Q q 0 0 0 rg BT 296.72 490.10 Td (conduct ) Tj ET Q q 0 0 0 rg BT 330.65 490.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 369.33 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 371.10 490.10 Td (Any ) Tj ET Q q 0 0 0 rg BT 390.60 490.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 418.98 490.10 Td (by ) Tj ET Q q 0 0 0 rg BT 431.26 490.10 Td (one ) Tj ET Q q 0 0 0 rg BT 447.98 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 458.59 490.10 Td (our ) Tj ET Q q 0 0 0 rg BT 474.20 490.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 514.79 490.10 Td (subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.81 478.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 81.27 478.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 122.19 478.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 150.87 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 167.34 478.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 198.26 478.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 252.49 478.10 Td (imposed ) Tj ET Q q 0 0 0 rg BT 288.40 478.10 Td (by ) Tj ET Q q 0 0 0 rg BT 300.43 478.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 343.55 478.10 Td (state ) Tj ET Q q 0 0 0 rg BT 363.90 478.10 Td (law ) Tj ET Q q 0 0 0 rg BT 380.37 478.10 Td (may ) Tj ET Q q 0 0 0 rg BT 399.62 478.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 429.97 478.10 Td (it ) Tj ET Q q 0 0 0 rg BT 437.56 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 447.36 478.10 Td (corrective ) Tj ET Q q 0 0 0 rg BT 489.36 478.10 Td (action, ) Tj ET Q q 0 0 0 rg BT 518.33 478.10 Td (which ) Tj ET Q q 0 0 0 rg BT 544.79 478.10 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (include ) Tj ET Q q 0 0 0 rg BT 82.25 466.10 Td (requiring ) Tj ET Q q 0 0 0 rg BT 121.73 466.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 159.55 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 170.70 466.10 Td (a ) Tj ET Q q 0 0 0 rg BT 177.96 466.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 241.31 466.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 279.11 466.10 Td (plan, ) Tj ET Q q 0 0 0 rg BT 301.65 466.10 Td (revocation ) Tj ET Q q 0 0 0 rg BT 346.68 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 357.83 466.10 Td (its ) Tj ET Q q 0 0 0 rg BT 370.10 466.10 Td (license ) Tj ET Q q 0 0 0 rg BT 400.68 466.10 Td (to ) Tj ET Q q 0 0 0 rg BT 411.28 466.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 427.99 466.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 469.13 466.10 Td (products ) Tj ET Q q 0 0 0 rg BT 506.39 466.10 Td (or ) Tj ET Q q 0 0 0 rg BT 517.54 466.10 Td (placing ) Tj ET Q q 0 0 0 rg BT 549.79 466.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 93.60 454.10 Td (under ) Tj ET Q q 0 0 0 rg BT 118.87 454.10 Td (state ) Tj ET Q q 0 0 0 rg BT 139.69 454.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 183.28 454.10 Td (control. ) Tj ET Q q 0 0 0 rg BT 216.05 454.10 Td (Any ) Tj ET Q q 0 0 0 rg BT 235.76 454.10 Td (new ) Tj ET Q q 0 0 0 rg BT 254.92 454.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 296.30 454.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 325.45 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 342.38 454.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 373.77 454.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 428.47 454.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 462.62 454.10 Td (in ) Tj ET Q q 0 0 0 rg BT 472.89 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 487.60 454.10 Td (future ) Tj ET Q q 0 0 0 rg BT 513.98 454.10 Td (may ) Tj ET Q q 0 0 0 rg BT 533.69 454.10 Td (require ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (us ) Tj ET Q q 0 0 0 rg BT 61.39 442.10 Td (to ) Tj ET Q q 0 0 0 rg BT 71.67 442.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 106.92 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 121.64 442.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 150.79 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 167.73 442.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 199.12 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 209.95 442.10 Td (our ) Tj ET Q q 0 0 0 rg BT 225.78 442.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 266.60 442.10 Td (company ) Tj ET Q q 0 0 0 rg BT 305.75 442.10 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 357.97 442.10 Td (which ) Tj ET Q q 0 0 0 rg BT 384.91 442.10 Td (we ) Tj ET Q q 0 0 0 rg BT 399.07 442.10 Td (may ) Tj ET Q q 0 0 0 rg BT 418.78 442.10 Td (not ) Tj ET Q q 0 0 0 rg BT 434.06 442.10 Td (be ) Tj ET Q q 0 0 0 rg BT 446.00 442.10 Td (able ) Tj ET Q q 0 0 0 rg BT 465.16 442.10 Td (to ) Tj ET Q q 0 0 0 rg BT 475.43 442.10 Td (do. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 418.10 Td (e ) Tj ET Q q 0 0 0 rg BT 64.51 418.10 Td (are ) Tj ET Q q 0 0 0 rg BT 79.76 418.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 110.57 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 120.27 418.10 Td (assessments ) Tj ET Q q 0 0 0 rg BT 171.65 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 189.13 418.10 Td (other ) Tj ET Q q 0 0 0 rg BT 212.73 418.10 Td (surcharges ) Tj ET Q q 0 0 0 rg BT 260.22 418.10 Td (from ) Tj ET Q q 0 0 0 rg BT 282.14 418.10 Td (state ) Tj ET Q q 0 0 0 rg BT 302.95 418.10 Td (guaranty ) Tj ET Q q 0 0 0 rg BT 342.10 418.10 Td (funds, ) Tj ET Q q 0 0 0 rg BT 369.87 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 387.36 418.10 Td (mandatory ) Tj ET Q q 0 0 0 rg BT 433.73 418.10 Td (state ) Tj ET Q q 0 0 0 rg BT 454.54 418.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 497.58 418.10 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 537.00 418.10 Td (which ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (may ) Tj ET Q q 0 0 0 rg BT 69.72 406.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 99.99 406.10 Td (our ) Tj ET Q q 0 0 0 rg BT 116.94 406.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 164.90 406.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (V) Tj ET Q q 0 0 0 rg BT 56.62 382.10 Td (irtually ) Tj ET Q q 0 0 0 rg BT 88.57 382.10 Td (all ) Tj ET Q q 0 0 0 rg BT 101.64 382.10 Td (states ) Tj ET Q q 0 0 0 rg BT 126.92 382.10 Td (require ) Tj ET Q q 0 0 0 rg BT 158.31 382.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 193.03 382.10 Td (licensed ) Tj ET Q q 0 0 0 rg BT 228.87 382.10 Td (to ) Tj ET Q q 0 0 0 rg BT 239.71 382.10 Td (do ) Tj ET Q q 0 0 0 rg BT 252.78 382.10 Td (business ) Tj ET Q q 0 0 0 rg BT 289.74 382.10 Td (therein ) Tj ET Q q 0 0 0 rg BT 320.58 382.10 Td (to ) Tj ET Q q 0 0 0 rg BT 331.42 382.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 351.70 382.10 Td (a ) Tj ET Q q 0 0 0 rg BT 359.21 382.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 391.16 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.56 382.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 447.84 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 465.35 382.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 501.73 382.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 527.01 382.10 Td (handling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 89.32 370.10 Td (and ) Tj ET Q q 0 0 0 rg BT 106.99 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 122.43 370.10 Td (unfunded ) Tj ET Q q 0 0 0 rg BT 163.42 370.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 196.64 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 208.20 370.10 Td (covered ) Tj ET Q q 0 0 0 rg BT 251.95 370.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 277.38 370.10 Td (and ) Tj ET Q q 0 0 0 rg BT 295.05 370.10 Td (unearned ) Tj ET Q q 0 0 0 rg BT 334.92 370.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 374.25 370.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 421.91 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.47 370.10 Td (impaired ) Tj ET Q q 0 0 0 rg BT 472.24 370.10 Td (or ) Tj ET Q q 0 0 0 rg BT 483.79 370.10 Td (insolvent ) Tj ET Q q 0 0 0 rg BT 523.68 370.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 97.05 358.10 Td (either ) Tj ET Q q 0 0 0 rg BT 121.60 358.10 Td (up ) Tj ET Q q 0 0 0 rg BT 133.39 358.10 Td (to ) Tj ET Q q 0 0 0 rg BT 142.96 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 156.97 358.10 Td (policy's ) Tj ET Q q 0 0 0 rg BT 189.44 358.10 Td (limit, ) Tj ET Q q 0 0 0 rg BT 212.62 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 226.63 358.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 269.51 358.10 Td (guaranty ) Tj ET Q q 0 0 0 rg BT 306.28 358.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 326.40 358.10 Td (covered ) Tj ET Q q 0 0 0 rg BT 359.83 358.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 383.83 358.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 426.17 358.10 Td (cap, ) Tj ET Q q 0 0 0 rg BT 444.34 358.10 Td (or ) Tj ET Q q 0 0 0 rg BT 454.46 358.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 479.58 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 489.69 358.10 Td (statutorily ) Tj ET Q q 0 0 0 rg BT 532.03 358.10 Td (defined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 87.89 346.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 147.30 346.10 Td (benefits, ) Tj ET Q q 0 0 0 rg BT 185.33 346.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 217.53 346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 229.19 346.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 274.15 346.10 Td (deductibles. ) Tj ET Q q 0 0 0 rg BT 325.79 346.10 Td (These ) Tj ET Q q 0 0 0 rg BT 353.54 346.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 401.86 346.10 Td (are ) Tj ET Q q 0 0 0 rg BT 417.94 346.10 Td (funded ) Tj ET Q q 0 0 0 rg BT 449.58 346.10 Td (by ) Tj ET Q q 0 0 0 rg BT 463.46 346.10 Td (assessments, ) Tj ET Q q 0 0 0 rg BT 518.16 346.10 Td (made ) Tj ET Q q 0 0 0 rg BT 543.69 346.10 Td (on ) Tj ET Q q 0 0 0 rg BT 557.56 346.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (retrospective, ) Tj ET Q q 0 0 0 rg BT 106.60 334.10 Td (prospective ) Tj ET Q q 0 0 0 rg BT 155.16 334.10 Td (or ) Tj ET Q q 0 0 0 rg BT 165.95 334.10 Td (pre-funded ) Tj ET Q q 0 0 0 rg BT 212.29 334.10 Td (basis, ) Tj ET Q q 0 0 0 rg BT 237.25 334.10 Td (which ) Tj ET Q q 0 0 0 rg BT 264.15 334.10 Td (are ) Tj ET Q q 0 0 0 rg BT 278.82 334.10 Td (levied ) Tj ET Q q 0 0 0 rg BT 305.72 334.10 Td (by ) Tj ET Q q 0 0 0 rg BT 318.18 334.10 Td (guaranty ) Tj ET Q q 0 0 0 rg BT 355.63 334.10 Td (associations ) Tj ET Q q 0 0 0 rg BT 406.42 334.10 Td (within ) Tj ET Q q 0 0 0 rg BT 434.44 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.12 334.10 Td (state, ) Tj ET Q q 0 0 0 rg BT 472.41 334.10 Td (up ) Tj ET Q q 0 0 0 rg BT 484.87 334.10 Td (to ) Tj ET Q q 0 0 0 rg BT 495.11 334.10 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 539.22 334.10 Td (limits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (\(typically ) Tj ET Q q 0 0 0 rg BT 90.91 322.10 Td (2% ) Tj ET Q q 0 0 0 rg BT 106.82 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 117.74 322.10 Td (net ) Tj ET Q q 0 0 0 rg BT 136.98 322.10 Td (direct ) Tj ET Q q 0 0 0 rg BT 162.33 322.10 Td (written ) Tj ET Q q 0 0 0 rg BT 193.24 322.10 Td (premium\), ) Tj ET Q q 0 0 0 rg BT 242.19 322.10 Td (on ) Tj ET Q q 0 0 0 rg BT 254.78 322.10 Td (all ) Tj ET Q q 0 0 0 rg BT 267.36 322.10 Td (member ) Tj ET Q q 0 0 0 rg BT 302.71 322.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 336.96 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 347.32 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.12 322.10 Td (state ) Tj ET Q q 0 0 0 rg BT 383.03 322.10 Td (on ) Tj ET Q q 0 0 0 rg BT 395.62 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 410.42 322.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 433.01 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 443.92 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 458.72 322.10 Td (proportionate ) Tj ET Q q 0 0 0 rg BT 515.18 322.10 Td (share ) Tj ET Q q 0 0 0 rg BT 538.86 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.78 322.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 92.52 310.10 Td (written ) Tj ET Q q 0 0 0 rg BT 123.37 310.10 Td (by ) Tj ET Q q 0 0 0 rg BT 135.89 310.10 Td (member ) Tj ET Q q 0 0 0 rg BT 171.18 310.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 205.37 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 215.67 310.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 245.40 310.10 Td (covered ) Tj ET Q q 0 0 0 rg BT 279.57 310.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 300.98 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 311.83 310.10 Td (business ) Tj ET Q q 0 0 0 rg BT 348.25 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 358.55 310.10 Td (which ) Tj ET Q q 0 0 0 rg BT 385.51 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 400.25 310.10 Td (impaired, ) Tj ET Q q 0 0 0 rg BT 440.82 310.10 Td (insolvent ) Tj ET Q q 0 0 0 rg BT 480.01 310.10 Td (or ) Tj ET Q q 0 0 0 rg BT 490.86 310.10 Td (failed ) Tj ET Q q 0 0 0 rg BT 516.15 310.10 Td (insurer ) Tj ET Q q 0 0 0 rg BT 546.45 310.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (engaged. ) Tj ET Q q 0 0 0 rg BT 87.59 298.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 136.92 298.10 Td (, ) Tj ET Q q 0 0 0 rg BT 141.70 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 156.19 298.10 Td (total ) Tj ET Q q 0 0 0 rg BT 176.24 298.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 208.51 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 219.11 298.10 Td (assessments ) Tj ET Q q 0 0 0 rg BT 269.72 298.10 Td (levied ) Tj ET Q q 0 0 0 rg BT 296.42 298.10 Td (on ) Tj ET Q q 0 0 0 rg BT 308.70 298.10 Td (us ) Tj ET Q q 0 0 0 rg BT 319.86 298.10 Td (by ) Tj ET Q q 0 0 0 rg BT 332.14 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 346.63 298.10 Td (states ) Tj ET Q q 0 0 0 rg BT 371.12 298.10 Td (in ) Tj ET Q q 0 0 0 rg BT 381.17 298.10 Td (which ) Tj ET Q q 0 0 0 rg BT 407.89 298.10 Td (we ) Tj ET Q q 0 0 0 rg BT 421.82 298.10 Td (are ) Tj ET Q q 0 0 0 rg BT 436.30 298.10 Td (licensed ) Tj ET Q q 0 0 0 rg BT 471.34 298.10 Td (to ) Tj ET Q q 0 0 0 rg BT 481.39 298.10 Td (write ) Tj ET Q q 0 0 0 rg BT 504.21 298.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 544.80 298.10 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 85.34 286.10 Td (as ) Tj ET Q q 0 0 0 rg BT 96.26 286.10 Td (we ) Tj ET Q q 0 0 0 rg BT 110.51 286.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 145.86 286.10 Td (our ) Tj ET Q q 0 0 0 rg BT 161.77 286.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 204.36 286.10 Td (written. ) Tj ET Q q 0 0 0 rg BT 237.77 286.10 Td (In ) Tj ET Q q 0 0 0 rg BT 248.69 286.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 286.56 286.10 Td (as ) Tj ET Q q 0 0 0 rg BT 297.48 286.10 Td (a ) Tj ET Q q 0 0 0 rg BT 304.50 286.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 344.87 286.10 Td (to ) Tj ET Q q 0 0 0 rg BT 355.23 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 370.04 286.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 398.18 286.10 Td (to ) Tj ET Q q 0 0 0 rg BT 408.55 286.10 Td (conduct ) Tj ET Q q 0 0 0 rg BT 442.79 286.10 Td (business ) Tj ET Q q 0 0 0 rg BT 479.27 286.10 Td (in ) Tj ET Q q 0 0 0 rg BT 489.64 286.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 519.43 286.10 Td (states ) Tj ET Q q 0 0 0 rg BT 544.24 286.10 Td (\(and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (within ) Tj ET Q q 0 0 0 rg BT 77.11 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 90.88 274.10 Td (jurisdiction ) Tj ET Q q 0 0 0 rg BT 137.99 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 147.88 274.10 Td (some ) Tj ET Q q 0 0 0 rg BT 170.54 274.10 Td (local ) Tj ET Q q 0 0 0 rg BT 191.53 274.10 Td (governments\), ) Tj ET Q q 0 0 0 rg BT 250.57 274.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 290.44 274.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 334.76 274.10 Td (are ) Tj ET Q q 0 0 0 rg BT 348.52 274.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 378.40 274.10 Td (to ) Tj ET Q q 0 0 0 rg BT 387.73 274.10 Td (or ) Tj ET Q q 0 0 0 rg BT 397.62 274.10 Td (required ) Tj ET Q q 0 0 0 rg BT 432.49 274.10 Td (to ) Tj ET Q q 0 0 0 rg BT 441.82 274.10 Td (participate ) Tj ET Q q 0 0 0 rg BT 485.58 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 494.91 274.10 Td (various ) Tj ET Q q 0 0 0 rg BT 525.90 274.10 Td (premium ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (or ) Tj ET Q q 0 0 0 rg BT 59.92 262.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 77.07 262.10 Td (based ) Tj ET Q q 0 0 0 rg BT 101.43 262.10 Td (insurance-related ) Tj ET Q q 0 0 0 rg BT 171.87 262.10 Td (assessments, ) Tj ET Q q 0 0 0 rg BT 224.29 262.10 Td (including ) Tj ET Q q 0 0 0 rg BT 263.66 262.10 Td (mandatory ) Tj ET Q q 0 0 0 rg BT 308.01 262.10 Td (\(a/k/a ) Tj ET Q q 0 0 0 rg BT 332.37 262.10 Td (involuntary\) ) Tj ET Q q 0 0 0 rg BT 392.27 262.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 432.17 262.10 Td (pools, ) Tj ET Q q 0 0 0 rg BT 457.93 262.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 511.18 262.10 Td (associations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 86.71 250.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 144.94 250.10 Td (second-injury ) Tj ET Q q 0 0 0 rg BT 202.62 250.10 Td (funds, ) Tj ET Q q 0 0 0 rg BT 230.03 250.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 278.81 250.10 Td (funds) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 1 J 1 j 3 M 301.03271484375 252.43886718750002 m 303.7255859375 252.43886718750002 l s q 0 0 0 rg BT 301.03 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.73 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 320.86 250.10 Td (other ) Tj ET Q q 0 0 0 rg BT 344.10 250.10 Td (state ) Tj ET Q q 0 0 0 rg BT 365.11 250.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 406.12 250.10 Td (facilities. ) Tj ET Q q 0 0 0 rg BT 445.15 250.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 485.62 250.10 Td (we ) Tj ET Q q 0 0 0 rg BT 499.97 250.10 Td (may ) Tj ET Q q 0 0 0 rg BT 519.88 250.10 Td (be ) Tj ET Q q 0 0 0 rg BT 532.02 250.10 Td (entitled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.87 238.10 Td (take ) Tj ET Q q 0 0 0 rg BT 80.61 238.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 119.80 238.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 135.11 238.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 160.96 238.10 Td (\(or ) Tj ET Q q 0 0 0 rg BT 175.71 238.10 Td (of) Tj ET Q q 0 0 0 rg BT 183.86 238.10 Td (fsets\), ) Tj ET Q q 0 0 0 rg BT 211.11 238.10 Td (recover ) Tj ET Q q 0 0 0 rg BT 244.17 238.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 272.25 238.10 Td (surchar) Tj ET Q q 0 0 0 rg BT 301.50 238.10 Td (ges ) Tj ET Q q 0 0 0 rg BT 317.92 238.10 Td (or ) Tj ET Q q 0 0 0 rg BT 329.34 238.10 Td (include ) Tj ET Q q 0 0 0 rg BT 361.86 238.10 Td (assessments ) Tj ET Q q 0 0 0 rg BT 413.28 238.10 Td (in ) Tj ET Q q 0 0 0 rg BT 424.15 238.10 Td (future ) Tj ET Q q 0 0 0 rg BT 451.11 238.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 490.30 238.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 508.38 238.10 Td (structures ) Tj ET Q q 0 0 0 rg BT 550.34 238.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 90.54 226.10 Td (we ) Tj ET Q q 0 0 0 rg BT 104.42 226.10 Td (make ) Tj ET Q q 0 0 0 rg BT 128.29 226.10 Td (under ) Tj ET Q q 0 0 0 rg BT 153.27 226.10 Td (these ) Tj ET Q q 0 0 0 rg BT 176.04 226.10 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 215.18 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.61 226.10 Td (ef) Tj ET Q q 0 0 0 rg BT 237.20 226.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 254.40 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 264.95 226.10 Td (these ) Tj ET Q q 0 0 0 rg BT 287.71 226.10 Td (assessments ) Tj ET Q q 0 0 0 rg BT 338.26 226.10 Td (and ) Tj ET Q q 0 0 0 rg BT 354.91 226.10 Td (insurance-related ) Tj ET Q q 0 0 0 rg BT 425.97 226.10 Td (arrangements, ) Tj ET Q q 0 0 0 rg BT 484.55 226.10 Td (or ) Tj ET Q q 0 0 0 rg BT 495.10 226.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 529.52 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 539.51 226.10 Td (them, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (could ) Tj ET Q q 0 0 0 rg BT 74.72 214.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 103.86 214.10 Td (our ) Tj ET Q q 0 0 0 rg BT 119.69 214.10 Td (profitability ) Tj ET Q q 0 0 0 rg BT 169.96 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 180.24 214.10 Td (any ) Tj ET Q q 0 0 0 rg BT 197.18 214.10 Td (given ) Tj ET Q q 0 0 0 rg BT 221.89 214.10 Td (period ) Tj ET Q q 0 0 0 rg BT 249.94 214.10 Td (or ) Tj ET Q q 0 0 0 rg BT 260.77 214.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 282.16 214.10 Td (our ) Tj ET Q q 0 0 0 rg BT 297.99 214.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 326.04 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 336.32 214.10 Td (grow ) Tj ET Q q 0 0 0 rg BT 359.38 214.10 Td (our ) Tj ET Q q 0 0 0 rg BT 375.21 214.10 Td (business.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (Market ) Tj ET Q q 0 0 0 rg BT 82.06 190.10 Td (fluctuations, ) Tj ET Q q 0 0 0 rg BT 136.08 190.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 172.03 190.10 Td (in ) Tj ET Q q 0 0 0 rg BT 182.43 190.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 215.04 190.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 237.10 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 248.05 190.10 Td (a ) Tj ET Q q 0 0 0 rg BT 255.11 190.10 Td (need ) Tj ET Q q 0 0 0 rg BT 276.61 190.10 Td (to ) Tj ET Q q 0 0 0 rg BT 286.45 190.10 Td (generate ) Tj ET Q q 0 0 0 rg BT 324.06 190.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 360.01 190.10 Td (could ) Tj ET Q q 0 0 0 rg BT 384.85 190.10 Td (have ) Tj ET Q q 0 0 0 rg BT 406.34 190.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 452.30 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 469.92 190.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 506.41 190.10 Td (ef) Tj ET Q q 0 0 0 rg BT 514.00 190.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 534.94 190.10 Td (on ) Tj ET Q q 0 0 0 rg BT 547.56 190.10 Td (our ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 96.50 178.10 Td (portfolio. ) Tj ET Q q 0 0 0 rg BT 136.47 178.10 Td (W) Tj ET Q q 0 0 0 rg BT 144.62 178.10 Td (e ) Tj ET Q q 0 0 0 rg BT 151.12 178.10 Td (may ) Tj ET Q q 0 0 0 rg BT 170.40 178.10 Td (not ) Tj ET Q q 0 0 0 rg BT 185.80 178.10 Td (be ) Tj ET Q q 0 0 0 rg BT 197.30 178.10 Td (able ) Tj ET Q q 0 0 0 rg BT 216.57 178.10 Td (to ) Tj ET Q q 0 0 0 rg BT 226.41 178.10 Td (realize ) Tj ET Q q 0 0 0 rg BT 255.69 178.10 Td (our ) Tj ET Q q 0 0 0 rg BT 272.20 178.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 318.71 178.10 Td (objectives, ) Tj ET Q q 0 0 0 rg BT 363.25 178.10 Td (which ) Tj ET Q q 0 0 0 rg BT 390.32 178.10 Td (could ) Tj ET Q q 0 0 0 rg BT 415.16 178.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 468.33 178.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 498.16 178.10 Td (our ) Tj ET Q q 0 0 0 rg BT 514.68 178.10 Td (net ) Tj ET Q q 0 0 0 rg BT 529.51 178.10 Td (income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 154.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.53 154.10 Td (depend ) Tj ET Q q 0 0 0 rg BT 96.86 154.10 Td (on ) Tj ET Q q 0 0 0 rg BT 109.31 154.10 Td (income ) Tj ET Q q 0 0 0 rg BT 141.19 154.10 Td (from ) Tj ET Q q 0 0 0 rg BT 163.08 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 178.86 154.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 219.08 154.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 256.52 154.10 Td (for ) Tj ET Q q 0 0 0 rg BT 270.63 154.10 Td (a ) Tj ET Q q 0 0 0 rg BT 277.52 154.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 322.75 154.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 354.09 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 364.87 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 380.65 154.10 Td (earnings. ) Tj ET Q q 0 0 0 rg BT 419.48 154.10 Td (Investment ) Tj ET Q q 0 0 0 rg BT 466.36 154.10 Td (returns ) Tj ET Q q 0 0 0 rg BT 496.58 154.10 Td (are ) Tj ET Q q 0 0 0 rg BT 511.24 154.10 Td (an ) Tj ET Q q 0 0 0 rg BT 523.13 154.10 Td (important ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (part ) Tj ET Q q 0 0 0 rg BT 67.75 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 78.29 142.10 Td (our ) Tj ET Q q 0 0 0 rg BT 93.82 142.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 123.79 142.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 170.91 142.10 Td (. ) Tj ET Q q 0 0 0 rg BT 175.13 142.10 Td (A) Tj ET Q q 0 0 0 rg BT 181.80 142.10 Td ( ) Tj ET Q q 0 0 0 rg BT 184.00 142.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 228.42 142.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 259.49 142.10 Td (in ) Tj ET Q q 0 0 0 rg BT 269.48 142.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 315.56 142.10 Td (yields ) Tj ET Q q 0 0 0 rg BT 341.65 142.10 Td (in ) Tj ET Q q 0 0 0 rg BT 351.64 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 366.06 142.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 406.03 142.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 443.23 142.10 Td (or ) Tj ET Q q 0 0 0 rg BT 453.76 142.10 Td (an ) Tj ET Q q 0 0 0 rg BT 465.40 142.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 513.71 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 524.24 142.10 Td (securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 79.13 130.10 Td (could ) Tj ET Q q 0 0 0 rg BT 103.82 130.10 Td (have ) Tj ET Q q 0 0 0 rg BT 125.16 130.10 Td (a ) Tj ET Q q 0 0 0 rg BT 132.07 130.10 Td (material ) Tj ET Q q 0 0 0 rg BT 167.30 130.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 200.31 130.10 Td (ef) Tj ET Q q 0 0 0 rg BT 207.89 130.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 225.35 130.10 Td (on ) Tj ET Q q 0 0 0 rg BT 237.82 130.10 Td (our ) Tj ET Q q 0 0 0 rg BT 253.62 130.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 292.48 130.10 Td (results ) Tj ET Q q 0 0 0 rg BT 321.06 130.10 Td (of ) Tj ET Q q 0 0 0 rg BT 331.86 130.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 375.98 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 392.89 130.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 430.34 130.10 Td (condition. ) Tj ET Q q 0 0 0 rg BT 472.91 130.10 Td (W) Tj ET Q q 0 0 0 rg BT 481.54 130.10 Td (e ) Tj ET Q q 0 0 0 rg BT 488.45 130.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 527.02 130.10 Td (maintain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.40 118.10 Td (intend ) Tj ET Q q 0 0 0 rg BT 93.36 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 103.10 118.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 139.50 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 149.25 118.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 186.20 118.10 Td (a ) Tj ET Q q 0 0 0 rg BT 192.60 118.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 232.33 118.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 269.29 118.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 312.91 118.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 352.09 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 362.38 118.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 384.89 118.10 Td (income ) Tj ET Q q 0 0 0 rg BT 416.29 118.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 458.08 118.10 Td (As ) Tj ET Q q 0 0 0 rg BT 471.16 118.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.46 118.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 539.50 118.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 118.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.52 106.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 111.60 106.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 148.79 106.10 Td (was ) Tj ET Q q 0 0 0 rg BT 166.53 106.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 205.94 106.10 Td (invested ) Tj ET Q q 0 0 0 rg BT 241.46 106.10 Td (in ) Tj ET Q q 0 0 0 rg BT 251.43 106.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 274.17 106.10 Td (income ) Tj ET Q q 0 0 0 rg BT 305.80 106.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 348.10 106.10 Td (W) Tj ET Q q 0 0 0 rg BT 356.74 106.10 Td (e ) Tj ET Q q 0 0 0 rg BT 363.37 106.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 392.22 106.10 Td (predict ) Tj ET Q q 0 0 0 rg BT 422.17 106.10 Td (which ) Tj ET Q q 0 0 0 rg BT 448.81 106.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 483.78 106.10 Td (sectors ) Tj ET Q q 0 0 0 rg BT 513.74 106.10 Td (in ) Tj ET Q q 0 0 0 rg BT 523.71 106.10 Td (which ) Tj ET Q q 0 0 0 rg BT 550.35 106.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 87.91 94.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 138.60 94.10 Td (may ) Tj ET Q q 0 0 0 rg BT 158.74 94.10 Td (suf) Tj ET Q q 0 0 0 rg BT 170.78 94.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 184.80 94.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 211.61 94.10 Td (as ) Tj ET Q q 0 0 0 rg BT 222.86 94.10 Td (a ) Tj ET Q q 0 0 0 rg BT 230.22 94.10 Td (result ) Tj ET Q q 0 0 0 rg BT 255.36 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 266.61 94.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 304.52 94.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 340.20 94.10 Td (in ) Tj ET Q q 0 0 0 rg BT 350.90 94.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 401.02 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 418.37 94.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 460.17 94.10 Td (activity) Tj ET Q q 0 0 0 rg BT 489.51 94.10 Td (, ) Tj ET Q q 0 0 0 rg BT 494.93 94.10 Td (or ) Tj ET Q q 0 0 0 rg BT 506.18 94.10 Td (how ) Tj ET Q q 0 0 0 rg BT 526.32 94.10 Td (any ) Tj ET Q q 0 0 0 rg BT 543.68 94.10 Td (such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 81.60 82.10 Td (might ) Tj ET Q q 0 0 0 rg BT 107.66 82.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 137.60 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 152.54 82.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 180.82 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 191.87 82.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 237.36 82.10 Td (within ) Tj ET Q q 0 0 0 rg BT 265.65 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 280.59 82.10 Td (af) Tj ET Q q 0 0 0 rg BT 288.18 82.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 315.33 82.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 350.83 82.10 Td (sectors ) Tj ET Q q 0 0 0 rg BT 381.33 82.10 Td (to ) Tj ET Q q 0 0 0 rg BT 391.83 82.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 409.00 82.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 441.15 82.10 Td (or ) Tj ET Q q 0 0 0 rg BT 452.21 82.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 490.48 82.10 Td (on ) Tj ET Q q 0 0 0 rg BT 503.21 82.10 Td (their ) Tj ET Q q 0 0 0 rg BT 524.26 82.10 Td (securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.14 70.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 94.49 70.10 Td (predict ) Tj ET Q q 0 0 0 rg BT 123.96 70.10 Td (how ) Tj ET Q q 0 0 0 rg BT 142.88 70.10 Td (or ) Tj ET Q q 0 0 0 rg BT 152.91 70.10 Td (to ) Tj ET Q q 0 0 0 rg BT 162.38 70.10 Td (what ) Tj ET Q q 0 0 0 rg BT 183.52 70.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 209.65 70.10 Td (the ) Tj ET Q q 0 0 0 rg BT 223.57 70.10 Td (value ) Tj ET Q q 0 0 0 rg BT 246.92 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 256.95 70.10 Td (any ) Tj ET Q q 0 0 0 rg BT 273.09 70.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 318.12 70.10 Td (collateral ) Tj ET Q q 0 0 0 rg BT 357.01 70.10 Td (might ) Tj ET Q q 0 0 0 rg BT 382.05 70.10 Td (be ) Tj ET Q q 0 0 0 rg BT 393.18 70.10 Td (af) Tj ET Q q 0 0 0 rg BT 400.77 70.10 Td (fected. ) Tj ET Q q 0 0 0 rg BT 429.02 70.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 478.36 70.10 Td (, ) Tj ET Q q 0 0 0 rg BT 482.55 70.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 514.79 70.10 Td (fluctuations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.39 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.22 58.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 98.38 58.10 Td (income ) Tj ET Q q 0 0 0 rg BT 130.43 58.10 Td (or ) Tj ET Q q 0 0 0 rg BT 141.37 58.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 168.98 58.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 203.25 58.10 Td (could ) Tj ET Q q 0 0 0 rg BT 228.08 58.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 269.01 58.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 298.84 58.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 345.96 58.10 Td (, ) Tj ET Q q 0 0 0 rg BT 351.07 58.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 388.67 58.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 429.05 58.10 Td (or ) Tj ET Q q 0 0 0 rg BT 440.00 58.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 460.38 58.10 Td (flows. ) Tj ET Q q 0 0 0 rg BT 487.71 58.10 Td (If ) Tj ET Q q 0 0 0 rg BT 496.99 58.10 Td (we ) Tj ET Q q 0 0 0 rg BT 511.26 58.10 Td (are ) Tj ET Q q 0 0 0 rg BT 526.08 58.10 Td (forced ) Tj ET Q q 0 0 0 rg BT 554.23 58.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 66.96 46.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 105.02 46.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 145.86 46.10 Td (that ) Tj ET Q q 0 0 0 rg BT 163.93 46.10 Td (have ) Tj ET Q q 0 0 0 rg BT 185.87 46.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 230.59 46.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 257.55 46.10 Td (for ) Tj ET Q q 0 0 0 rg BT 272.28 46.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 309.24 46.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 347.87 46.10 Td (rather ) Tj ET Q q 0 0 0 rg BT 374.25 46.10 Td (than ) Tj ET Q q 0 0 0 rg BT 394.54 46.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 428.17 46.10 Td (them ) Tj ET Q q 0 0 0 rg BT 451.24 46.10 Td (to ) Tj ET Q q 0 0 0 rg BT 462.08 46.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 499.04 46.10 Td (or ) Tj ET Q q 0 0 0 rg BT 510.44 46.10 Td (recovery) Tj ET Q q 0 0 0 rg BT 544.77 46.10 Td (, ) Tj ET Q q 0 0 0 rg BT 550.34 46.10 Td (we ) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (would ) Tj ET Q q 0 0 0 rg BT 76.76 742.10 Td (realize ) Tj ET Q q 0 0 0 rg BT 105.15 742.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 150.79 742.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 176.44 742.10 Td (on ) Tj ET Q q 0 0 0 rg BT 188.20 742.10 Td (those ) Tj ET Q q 0 0 0 rg BT 211.06 742.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 250.58 742.10 Td (when ) Tj ET Q q 0 0 0 rg BT 274.00 742.10 Td (that ) Tj ET Q q 0 0 0 rg BT 290.75 742.10 Td (determination ) Tj ET Q q 0 0 0 rg BT 348.05 742.10 Td (was ) Tj ET Q q 0 0 0 rg BT 365.36 742.10 Td (made. ) Tj ET Q q 0 0 0 rg BT 391.14 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 399.78 742.10 Td (e ) Tj ET Q q 0 0 0 rg BT 405.97 742.10 Td (could ) Tj ET Q q 0 0 0 rg BT 429.95 742.10 Td (also ) Tj ET Q q 0 0 0 rg BT 447.81 742.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 492.87 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 499.07 742.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 516.38 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 526.47 742.10 Td (principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 730.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 83.33 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 100.26 730.10 Td (non-fixed ) Tj ET Q q 0 0 0 rg BT 141.64 730.10 Td (income ) Tj ET Q q 0 0 0 rg BT 173.57 730.10 Td (investments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.98 706.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 95.96 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 106.17 706.10 Td (achieve ) Tj ET Q q 0 0 0 rg BT 139.14 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 154.90 706.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 201.21 706.10 Td (objectives ) Tj ET Q q 0 0 0 rg BT 244.18 706.10 Td (is ) Tj ET Q q 0 0 0 rg BT 253.28 706.10 Td (af) Tj ET Q q 0 0 0 rg BT 260.87 706.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 287.73 706.10 Td (by ) Tj ET Q q 0 0 0 rg BT 300.16 706.10 Td (general ) Tj ET Q q 0 0 0 rg BT 332.01 706.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 373.31 706.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 417.41 706.10 Td (that ) Tj ET Q q 0 0 0 rg BT 434.83 706.10 Td (are ) Tj ET Q q 0 0 0 rg BT 449.47 706.10 Td (beyond ) Tj ET Q q 0 0 0 rg BT 481.34 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 497.10 706.10 Td (control. ) Tj ET Q q 0 0 0 rg BT 530.36 706.10 Td (General ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 92.29 694.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 137.38 694.10 Td (can ) Tj ET Q q 0 0 0 rg BT 154.68 694.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 196.42 694.10 Td (af) Tj ET Q q 0 0 0 rg BT 204.01 694.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 222.42 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 238.06 694.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 273.13 694.10 Td (for ) Tj ET Q q 0 0 0 rg BT 288.22 694.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 321.07 694.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 339.48 694.10 Td (sensitive ) Tj ET Q q 0 0 0 rg BT 377.90 694.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 421.59 694.10 Td (including ) Tj ET Q q 0 0 0 rg BT 462.78 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 478.42 694.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 506.28 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 524.14 694.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 553.68 694.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (investor ) Tj ET Q q 0 0 0 rg BT 85.66 682.10 Td (participation ) Tj ET Q q 0 0 0 rg BT 139.64 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 150.86 682.10 Td (such ) Tj ET Q q 0 0 0 rg BT 172.63 682.10 Td (markets, ) Tj ET Q q 0 0 0 rg BT 210.23 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 225.89 682.10 Td (level ) Tj ET Q q 0 0 0 rg BT 248.76 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 266.65 682.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 306.20 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 317.97 682.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 350.84 682.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 373.16 682.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 393.54 682.10 Td (consequently) Tj ET Q q 0 0 0 rg BT 445.66 682.10 Td (, ) Tj ET Q q 0 0 0 rg BT 451.60 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.26 682.10 Td (value ) Tj ET Q q 0 0 0 rg BT 492.36 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 504.13 682.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 528.12 682.10 Td (maturity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 93.23 670.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 113.98 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 131.39 670.10 Td (global ) Tj ET Q q 0 0 0 rg BT 159.36 670.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 193.98 670.10 Td (have ) Tj ET Q q 0 0 0 rg BT 215.83 670.10 Td (been ) Tj ET Q q 0 0 0 rg BT 237.67 670.10 Td (experiencing ) Tj ET Q q 0 0 0 rg BT 292.28 670.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 331.36 670.10 Td (since ) Tj ET Q q 0 0 0 rg BT 354.87 670.10 Td (mid-2007. ) Tj ET Q q 0 0 0 rg BT 399.23 670.10 Td (Initiatives ) Tj ET Q q 0 0 0 rg BT 442.19 670.10 Td (taken ) Tj ET Q q 0 0 0 rg BT 466.81 670.10 Td (by ) Tj ET Q q 0 0 0 rg BT 479.78 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 494.97 670.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 515.72 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 533.13 670.10 Td (foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (governments ) Tj ET Q q 0 0 0 rg BT 104.97 658.10 Td (have ) Tj ET Q q 0 0 0 rg BT 127.16 658.10 Td (helped ) Tj ET Q q 0 0 0 rg BT 157.13 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 168.22 658.10 Td (stabilize ) Tj ET Q q 0 0 0 rg BT 204.86 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 220.39 658.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 258.68 658.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 293.65 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 311.41 658.10 Td (restore ) Tj ET Q q 0 0 0 rg BT 341.93 658.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 379.13 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 390.23 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.76 658.10 Td (banking ) Tj ET Q q 0 0 0 rg BT 441.29 658.10 Td (system ) Tj ET Q q 0 0 0 rg BT 472.38 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 490.14 658.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 516.21 658.10 Td (markets. ) Tj ET Q q 0 0 0 rg BT 553.68 658.10 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 86.62 646.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 119.62 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 128.75 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 142.31 646.10 Td (United ) Tj ET Q q 0 0 0 rg BT 170.88 646.10 Td (States ) Tj ET Q q 0 0 0 rg BT 196.11 646.10 Td (and ) Tj ET Q q 0 0 0 rg BT 211.90 646.10 Td (around ) Tj ET Q q 0 0 0 rg BT 241.02 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 254.58 646.10 Td (world ) Tj ET Q q 0 0 0 rg BT 279.26 646.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 328.91 646.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 366.36 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 375.49 646.10 Td (201) Tj ET Q q 0 0 0 rg BT 390.12 646.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 396.46 646.10 Td (due, ) Tj ET Q q 0 0 0 rg BT 414.75 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 423.88 646.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 443.27 646.10 Td (to ) Tj ET Q q 0 0 0 rg BT 452.40 646.10 Td (sovereign ) Tj ET Q q 0 0 0 rg BT 492.62 646.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 511.19 646.10 Td (downgrades. ) Tj ET Q q 0 0 0 rg BT 564.51 646.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 91.18 634.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 133.46 634.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 178.53 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 196.37 634.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 234.75 634.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 269.81 634.10 Td (have ) Tj ET Q q 0 0 0 rg BT 292.09 634.10 Td (somewhat ) Tj ET Q q 0 0 0 rg BT 336.04 634.10 Td (stabilized, ) Tj ET Q q 0 0 0 rg BT 380.26 634.10 Td (if ) Tj ET Q q 0 0 0 rg BT 389.78 634.10 Td (market ) Tj ET Q q 0 0 0 rg BT 420.94 634.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 466.01 634.10 Td (were ) Tj ET Q q 0 0 0 rg BT 488.84 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 500.02 634.10 Td (deteriorate, ) Tj ET Q q 0 0 0 rg BT 548.68 634.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 96.38 622.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 133.88 622.10 Td (could ) Tj ET Q q 0 0 0 rg BT 158.59 622.10 Td (be ) Tj ET Q q 0 0 0 rg BT 170.53 622.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 211.35 622.10 Td (af) Tj ET Q q 0 0 0 rg BT 218.94 622.10 Td (fected. ) Tj ET Q q 0 0 0 rg BT 248.36 622.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Dif) Tj ET Q q 0 0 0 rg BT 63.15 598.10 Td (ficult ) Tj ET Q q 0 0 0 rg BT 88.31 598.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 134.60 598.10 Td (in ) Tj ET Q q 0 0 0 rg BT 146.44 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 162.71 598.10 Td (economy ) Tj ET Q q 0 0 0 rg BT 202.87 598.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 244.69 598.10 Td (may ) Tj ET Q q 0 0 0 rg BT 265.41 598.10 Td (materially ) Tj ET Q q 0 0 0 rg BT 310.57 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 329.63 598.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 371.44 598.10 Td (af) Tj ET Q q 0 0 0 rg BT 379.59 598.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 398.07 598.10 Td (our ) Tj ET Q q 0 0 0 rg BT 416.03 598.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 457.04 598.10 Td (results ) Tj ET Q q 0 0 0 rg BT 487.77 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 499.60 598.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 546.44 598.10 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 91.94 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 102.77 586.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 142.50 586.10 Td (position ) Tj ET Q q 0 0 0 rg BT 177.79 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 195.85 586.10 Td (these ) Tj ET Q q 0 0 0 rg BT 219.46 586.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 264.75 586.10 Td (may ) Tj ET Q q 0 0 0 rg BT 284.46 586.10 Td (not ) Tj ET Q q 0 0 0 rg BT 300.30 586.10 Td (improve ) Tj ET Q q 0 0 0 rg BT 336.13 586.10 Td (in ) Tj ET Q q 0 0 0 rg BT 346.97 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.25 586.10 Td (near ) Tj ET Q q 0 0 0 rg BT 383.64 586.10 Td (future.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Current ) Tj ET Q q 0 0 0 rg BT 83.81 562.10 Td (market ) Tj ET Q q 0 0 0 rg BT 114.84 562.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 159.77 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 177.47 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 192.95 562.10 Td (instability ) Tj ET Q q 0 0 0 rg BT 236.21 562.10 Td (in ) Tj ET Q q 0 0 0 rg BT 247.25 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 262.73 562.10 Td (global ) Tj ET Q q 0 0 0 rg BT 290.99 562.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 329.23 562.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 364.15 562.10 Td (present ) Tj ET Q q 0 0 0 rg BT 396.29 562.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 439.55 562.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 461.70 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 479.40 562.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 533.75 562.10 Td (for ) Tj ET Q q 0 0 0 rg BT 548.68 562.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 88.46 550.10 Td (In ) Tj ET Q q 0 0 0 rg BT 98.85 550.10 Td (particular) Tj ET Q q 0 0 0 rg BT 136.76 550.10 Td (, ) Tj ET Q q 0 0 0 rg BT 141.33 550.10 Td (deterioration ) Tj ET Q q 0 0 0 rg BT 194.48 550.10 Td (in ) Tj ET Q q 0 0 0 rg BT 204.32 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 218.60 550.10 Td (public ) Tj ET Q q 0 0 0 rg BT 245.66 550.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 264.94 550.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 298.66 550.10 Td (could ) Tj ET Q q 0 0 0 rg BT 322.94 550.10 Td (lead ) Tj ET Q q 0 0 0 rg BT 341.66 550.10 Td (to ) Tj ET Q q 0 0 0 rg BT 351.51 550.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 393.56 550.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 439.51 550.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 465.46 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 481.97 550.10 Td (an ) Tj ET Q q 0 0 0 rg BT 493.47 550.10 Td (erosion ) Tj ET Q q 0 0 0 rg BT 524.97 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 535.37 550.10 Td (capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (as ) Tj ET Q q 0 0 0 rg BT 61.22 538.10 Td (a ) Tj ET Q q 0 0 0 rg BT 68.54 538.10 Td (result ) Tj ET Q q 0 0 0 rg BT 93.64 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.86 538.10 Td (a ) Tj ET Q q 0 0 0 rg BT 112.18 538.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 152.83 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 163.50 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.60 538.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 195.36 538.10 Td (value ) Tj ET Q q 0 0 0 rg BT 219.90 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 231.12 538.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 277.89 538.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 320.83 538.10 Td (The ) Tj ET Q q 0 0 0 rg BT 339.26 538.10 Td (severe ) Tj ET Q q 0 0 0 rg BT 367.68 538.10 Td (downturn ) Tj ET Q q 0 0 0 rg BT 408.90 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 419.56 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 434.66 538.10 Td (public ) Tj ET Q q 0 0 0 rg BT 462.55 538.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 482.65 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 499.97 538.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 527.85 538.10 Td (markets, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 93.28 526.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 149.34 526.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 195.41 526.10 Td (with ) Tj ET Q q 0 0 0 rg BT 218.16 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 235.35 526.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 278.09 526.10 Td (crisis, ) Tj ET Q q 0 0 0 rg BT 306.67 526.10 Td (worsening ) Tj ET Q q 0 0 0 rg BT 353.30 526.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 397.15 526.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 446.28 526.10 Td (widening ) Tj ET Q q 0 0 0 rg BT 488.47 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.78 526.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 529.51 526.10 Td (spreads, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (bankruptcies ) Tj ET Q q 0 0 0 rg BT 104.34 514.10 Td (and ) Tj ET Q q 0 0 0 rg BT 122.02 514.10 Td (government ) Tj ET Q q 0 0 0 rg BT 173.02 514.10 Td (intervention ) Tj ET Q q 0 0 0 rg BT 224.58 514.10 Td (in ) Tj ET Q q 0 0 0 rg BT 235.61 514.10 Td (lar) Tj ET Q q 0 0 0 rg BT 245.97 514.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 258.65 514.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 296.88 514.10 Td (institutions, ) Tj ET Q q 0 0 0 rg BT 347.07 514.10 Td (created ) Tj ET Q q 0 0 0 rg BT 379.17 514.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 424.63 514.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 469.51 514.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 496.65 514.10 Td (in ) Tj ET Q q 0 0 0 rg BT 507.67 514.10 Td (our ) Tj ET Q q 0 0 0 rg BT 524.24 514.10 Td (securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 87.50 502.10 Td (at ) Tj ET Q q 0 0 0 rg BT 97.21 502.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 126.91 502.10 Td (stages ) Tj ET Q q 0 0 0 rg BT 153.85 502.10 Td (in ) Tj ET Q q 0 0 0 rg BT 164.13 502.10 Td (2009. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Economic ) Tj ET Q q 0 0 0 rg BT 93.45 478.10 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 141.34 478.10 Td (has ) Tj ET Q q 0 0 0 rg BT 157.58 478.10 Td (recently ) Tj ET Q q 0 0 0 rg BT 192.69 478.10 Td (been ) Tj ET Q q 0 0 0 rg BT 214.48 478.10 Td (exacerbated ) Tj ET Q q 0 0 0 rg BT 265.13 478.10 Td (by ) Tj ET Q q 0 0 0 rg BT 278.04 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 293.16 478.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 333.82 478.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 371.72 478.10 Td (for ) Tj ET Q q 0 0 0 rg BT 386.29 478.10 Td (default ) Tj ET Q q 0 0 0 rg BT 416.97 478.10 Td (by ) Tj ET Q q 0 0 0 rg BT 429.88 478.10 Td (one ) Tj ET Q q 0 0 0 rg BT 447.22 478.10 Td (or ) Tj ET Q q 0 0 0 rg BT 458.46 478.10 Td (more ) Tj ET Q q 0 0 0 rg BT 481.92 478.10 Td (European ) Tj ET Q q 0 0 0 rg BT 523.14 478.10 Td (sovereign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 70.09 466.10 Td (issuers, ) Tj ET Q q 0 0 0 rg BT 102.69 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.78 466.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 155.65 466.10 Td (partial ) Tj ET Q q 0 0 0 rg BT 184.07 466.10 Td (or ) Tj ET Q q 0 0 0 rg BT 195.27 466.10 Td (complete ) Tj ET Q q 0 0 0 rg BT 234.80 466.10 Td (dissolution ) Tj ET Q q 0 0 0 rg BT 281.57 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 292.78 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 307.87 466.10 Td (Eurozone ) Tj ET Q q 0 0 0 rg BT 349.06 466.10 Td (and ) Tj ET Q q 0 0 0 rg BT 366.38 466.10 Td (its ) Tj ET Q q 0 0 0 rg BT 378.70 466.10 Td (common ) Tj ET Q q 0 0 0 rg BT 416.57 466.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 454.42 466.10 Td (and ) Tj ET Q q 0 0 0 rg BT 471.74 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 486.83 466.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 523.58 466.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 553.67 466.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (such ) Tj ET Q q 0 0 0 rg BT 71.55 454.10 Td (events ) Tj ET Q q 0 0 0 rg BT 100.32 454.10 Td (on ) Tj ET Q q 0 0 0 rg BT 113.54 454.10 Td (global ) Tj ET Q q 0 0 0 rg BT 141.76 454.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 179.97 454.10 Td (institutions ) Tj ET Q q 0 0 0 rg BT 227.64 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 245.30 454.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 275.18 454.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 310.05 454.10 Td (generally) Tj ET Q q 0 0 0 rg BT 346.61 454.10 Td (. ) Tj ET Q q 0 0 0 rg BT 351.62 454.10 Td (Actions ) Tj ET Q q 0 0 0 rg BT 385.95 454.10 Td (or ) Tj ET Q q 0 0 0 rg BT 397.50 454.10 Td (inactions ) Tj ET Q q 0 0 0 rg BT 436.83 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 448.38 454.10 Td (European ) Tj ET Q q 0 0 0 rg BT 489.92 454.10 Td (governments ) Tj ET Q q 0 0 0 rg BT 544.80 454.10 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 80.03 442.10 Td (these ) Tj ET Q q 0 0 0 rg BT 103.40 442.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 130.10 442.10 Td (or ) Tj ET Q q 0 0 0 rg BT 141.25 442.10 Td (perceived ) Tj ET Q q 0 0 0 rg BT 182.93 442.10 Td (risks. ) Tj ET Q q 0 0 0 rg BT 207.15 442.10 Td (In ) Tj ET Q q 0 0 0 rg BT 218.30 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 233.34 442.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 253.95 442.10 Td (during ) Tj ET Q q 0 0 0 rg BT 282.88 442.10 Td (201) Tj ET Q q 0 0 0 rg BT 297.50 442.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 307.83 442.10 Td (one ) Tj ET Q q 0 0 0 rg BT 325.09 442.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 351.24 442.10 Td (agency ) Tj ET Q q 0 0 0 rg BT 382.37 442.10 Td (downgraded ) Tj ET Q q 0 0 0 rg BT 434.62 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.66 442.10 Td (U.S.) Tj ET Q q 0 0 0 rg BT 470.22 442.10 Td (s ) Tj ET Q q 0 0 0 rg BT 476.94 442.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 519.19 442.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 539.23 442.10 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 75.83 430.10 Td (from ) Tj ET Q q 0 0 0 rg BT 97.23 430.10 Td (AAA. ) Tj ET Q q 0 0 0 rg BT 123.90 430.10 Td (Future ) Tj ET Q q 0 0 0 rg BT 152.52 430.10 Td (actions ) Tj ET Q q 0 0 0 rg BT 183.36 430.10 Td (or ) Tj ET Q q 0 0 0 rg BT 194.20 430.10 Td (inactions ) Tj ET Q q 0 0 0 rg BT 232.81 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 243.65 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 258.38 430.10 Td (United ) Tj ET Q q 0 0 0 rg BT 288.10 430.10 Td (States ) Tj ET Q q 0 0 0 rg BT 314.50 430.10 Td (government, ) Tj ET Q q 0 0 0 rg BT 367.27 430.10 Td (including ) Tj ET Q q 0 0 0 rg BT 407.56 430.10 Td (a ) Tj ET Q q 0 0 0 rg BT 414.50 430.10 Td (shutdown ) Tj ET Q q 0 0 0 rg BT 455.91 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 466.75 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 481.47 430.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 511.74 430.10 Td (government, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (could ) Tj ET Q q 0 0 0 rg BT 74.33 418.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 109.20 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.53 418.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 149.51 418.10 Td (or ) Tj ET Q q 0 0 0 rg BT 159.96 418.10 Td (perceived ) Tj ET Q q 0 0 0 rg BT 200.93 418.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 218.04 418.10 Td (that ) Tj ET Q q 0 0 0 rg BT 235.15 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.48 418.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 269.38 418.10 Td (may ) Tj ET Q q 0 0 0 rg BT 288.71 418.10 Td (not ) Tj ET Q q 0 0 0 rg BT 303.60 418.10 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 346.26 418.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 362.81 418.10 Td (its ) Tj ET Q q 0 0 0 rg BT 374.38 418.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 420.93 418.10 Td (when ) Tj ET Q q 0 0 0 rg BT 444.71 418.10 Td (due ) Tj ET Q q 0 0 0 rg BT 461.26 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 477.81 418.10 Td (may ) Tj ET Q q 0 0 0 rg BT 497.14 418.10 Td (disrupt ) Tj ET Q q 0 0 0 rg BT 527.03 418.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (markets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 73.70 382.10 Td ( ) Tj ET Q q 0 0 0 rg BT 77.31 382.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 115.93 382.10 Td (is ) Tj ET Q q 0 0 0 rg BT 126.22 382.10 Td (managed ) Tj ET Q q 0 0 0 rg BT 165.93 382.10 Td (by ) Tj ET Q q 0 0 0 rg BT 179.55 382.10 Td (an ) Tj ET Q q 0 0 0 rg BT 192.60 382.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 214.56 382.10 Td (registered ) Tj ET Q q 0 0 0 rg BT 257.60 382.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 305.10 382.10 Td (advisor ) Tj ET Q q 0 0 0 rg BT 338.16 382.10 Td (specializing ) Tj ET Q q 0 0 0 rg BT 389.54 382.10 Td (in ) Tj ET Q q 0 0 0 rg BT 400.93 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.77 382.10 Td (management ) Tj ET Q q 0 0 0 rg BT 471.47 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 483.42 382.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 525.36 382.10 Td (company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (portfolios. ) Tj ET Q q 0 0 0 rg BT 94.09 370.10 Td (W) Tj ET Q q 0 0 0 rg BT 102.73 370.10 Td (e ) Tj ET Q q 0 0 0 rg BT 110.08 370.10 Td (and ) Tj ET Q q 0 0 0 rg BT 127.43 370.10 Td (our ) Tj ET Q q 0 0 0 rg BT 143.68 370.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 190.47 370.10 Td (manager ) Tj ET Q q 0 0 0 rg BT 227.81 370.10 Td (consider ) Tj ET Q q 0 0 0 rg BT 264.60 370.10 Td (these ) Tj ET Q q 0 0 0 rg BT 288.06 370.10 Td (issues ) Tj ET Q q 0 0 0 rg BT 314.87 370.10 Td (in ) Tj ET Q q 0 0 0 rg BT 325.56 370.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 372.35 370.10 Td (with ) Tj ET Q q 0 0 0 rg BT 393.04 370.10 Td (current ) Tj ET Q q 0 0 0 rg BT 424.27 370.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 446.62 370.10 Td (allocation ) Tj ET Q q 0 0 0 rg BT 488.96 370.10 Td (decisions ) Tj ET Q q 0 0 0 rg BT 529.09 370.10 Td (with ) Tj ET Q q 0 0 0 rg BT 549.79 370.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (object ) Tj ET Q q 0 0 0 rg BT 76.28 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 86.45 358.10 Td (avoiding ) Tj ET Q q 0 0 0 rg BT 123.29 358.10 Td (them ) Tj ET Q q 0 0 0 rg BT 145.12 358.10 Td (going ) Tj ET Q q 0 0 0 rg BT 169.74 358.10 Td (forward. ) Tj ET Q q 0 0 0 rg BT 205.74 358.10 Td (However) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.39 358.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.73 358.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 290.23 358.10 Td (on ) Tj ET Q q 0 0 0 rg BT 302.07 358.10 Td (market ) Tj ET Q q 0 0 0 rg BT 331.67 358.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 375.18 358.10 Td (going ) Tj ET Q q 0 0 0 rg BT 399.80 358.10 Td (forward, ) Tj ET Q q 0 0 0 rg BT 435.80 358.10 Td (we ) Tj ET Q q 0 0 0 rg BT 449.30 358.10 Td (could ) Tj ET Q q 0 0 0 rg BT 473.36 358.10 Td (again ) Tj ET Q q 0 0 0 rg BT 496.85 358.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 519.24 358.10 Td (substantial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 84.34 346.10 Td (and ) Tj ET Q q 0 0 0 rg BT 101.48 346.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 144.18 346.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 188.52 346.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 215.11 346.10 Td (in ) Tj ET Q q 0 0 0 rg BT 225.60 346.10 Td (future ) Tj ET Q q 0 0 0 rg BT 252.18 346.10 Td (periods, ) Tj ET Q q 0 0 0 rg BT 286.82 346.10 Td (which ) Tj ET Q q 0 0 0 rg BT 313.96 346.10 Td (could ) Tj ET Q q 0 0 0 rg BT 338.88 346.10 Td (have ) Tj ET Q q 0 0 0 rg BT 360.46 346.10 Td (an ) Tj ET Q q 0 0 0 rg BT 372.60 346.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 405.84 346.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 435.75 346.10 Td (on ) Tj ET Q q 0 0 0 rg BT 448.45 346.10 Td (the ) Tj ET Q q 0 0 0 rg BT 463.37 346.10 Td (results ) Tj ET Q q 0 0 0 rg BT 492.19 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 503.22 346.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 547.58 346.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.62 334.10 Td (condition. ) Tj ET Q q 0 0 0 rg BT 130.34 334.10 Td (There ) Tj ET Q q 0 0 0 rg BT 156.30 334.10 Td (can ) Tj ET Q q 0 0 0 rg BT 172.82 334.10 Td (be ) Tj ET Q q 0 0 0 rg BT 184.90 334.10 Td (no ) Tj ET Q q 0 0 0 rg BT 197.54 334.10 Td (assurance ) Tj ET Q q 0 0 0 rg BT 239.05 334.10 Td (that ) Tj ET Q q 0 0 0 rg BT 256.68 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 271.54 334.10 Td (current ) Tj ET Q q 0 0 0 rg BT 302.49 334.10 Td (market ) Tj ET Q q 0 0 0 rg BT 332.90 334.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 377.20 334.10 Td (will ) Tj ET Q q 0 0 0 rg BT 395.40 334.10 Td (improve ) Tj ET Q q 0 0 0 rg BT 431.37 334.10 Td (in ) Tj ET Q q 0 0 0 rg BT 441.79 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 456.64 334.10 Td (near ) Tj ET Q q 0 0 0 rg BT 476.49 334.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 505.32 334.10 Td (W) Tj ET Q q 0 0 0 rg BT 513.96 334.10 Td (e ) Tj ET Q q 0 0 0 rg BT 521.04 334.10 Td (could ) Tj ET Q q 0 0 0 rg BT 545.89 334.10 Td (also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 95.49 322.10 Td (a ) Tj ET Q q 0 0 0 rg BT 102.12 322.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 142.07 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 152.04 322.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 180.88 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 190.85 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 205.26 322.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 245.76 322.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 295.17 322.10 Td (below ) Tj ET Q q 0 0 0 rg BT 321.80 322.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 347.31 322.10 Td (required ) Tj ET Q q 0 0 0 rg BT 382.82 322.10 Td (by ) Tj ET Q q 0 0 0 rg BT 395.01 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 409.41 322.10 Td (regulators ) Tj ET Q q 0 0 0 rg BT 451.59 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 461.56 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 475.96 322.10 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 527.60 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 537.57 322.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (we ) Tj ET Q q 0 0 0 rg BT 64.12 310.10 Td (operate. ) Tj ET Q q 0 0 0 rg BT 98.50 310.10 Td ( ) Tj ET Q q 0 0 0 rg BT 100.96 310.10 Td (Certain ) Tj ET Q q 0 0 0 rg BT 132.85 310.10 Td (trust ) Tj ET Q q 0 0 0 rg BT 153.08 310.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 190.53 310.10 Td (for ) Tj ET Q q 0 0 0 rg BT 204.64 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 219.32 310.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 249.54 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 260.33 310.10 Td (related ) Tj ET Q q 0 0 0 rg BT 289.99 310.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 335.21 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 352.10 310.10 Td (third ) Tj ET Q q 0 0 0 rg BT 373.45 310.10 Td (parties ) Tj ET Q q 0 0 0 rg BT 402.56 310.10 Td (have ) Tj ET Q q 0 0 0 rg BT 423.90 310.10 Td (been ) Tj ET Q q 0 0 0 rg BT 445.23 310.10 Td (established ) Tj ET Q q 0 0 0 rg BT 492.12 310.10 Td (with ) Tj ET Q q 0 0 0 rg BT 512.36 310.10 Td (collateral ) Tj ET Q q 0 0 0 rg BT 552.01 310.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (deposit ) Tj ET Q q 0 0 0 rg BT 80.88 298.10 Td (under ) Tj ET Q q 0 0 0 rg BT 105.64 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.85 298.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 144.05 298.10 Td (and ) Tj ET Q q 0 0 0 rg BT 160.48 298.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 204.14 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 214.46 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 228.67 298.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 262.86 298.10 Td (trust ) Tj ET Q q 0 0 0 rg BT 282.63 298.10 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 332.51 298.10 Td (The ) Tj ET Q q 0 0 0 rg BT 350.05 298.10 Td (value ) Tj ET Q q 0 0 0 rg BT 373.70 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 384.02 298.10 Td (collateral ) Tj ET Q q 0 0 0 rg BT 423.21 298.10 Td (could ) Tj ET Q q 0 0 0 rg BT 447.41 298.10 Td (fall ) Tj ET Q q 0 0 0 rg BT 462.73 298.10 Td (below ) Tj ET Q q 0 0 0 rg BT 489.16 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 503.37 298.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 528.68 298.10 Td (required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (under ) Tj ET Q q 0 0 0 rg BT 75.27 286.10 Td (these ) Tj ET Q q 0 0 0 rg BT 98.32 286.10 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 148.85 286.10 Td (putting ) Tj ET Q q 0 0 0 rg BT 179.68 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.40 286.10 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 238.01 286.10 Td (or ) Tj ET Q q 0 0 0 rg BT 248.84 286.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 298.55 286.10 Td (in ) Tj ET Q q 0 0 0 rg BT 308.83 286.10 Td (breach ) Tj ET Q q 0 0 0 rg BT 337.98 286.10 Td (of ) Tj ET Q q 0 0 0 rg BT 348.81 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 363.53 286.10 Td (agreement.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 262.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.09 262.10 Td (may ) Tj ET Q q 0 0 0 rg BT 84.80 262.10 Td (not ) Tj ET Q q 0 0 0 rg BT 100.64 262.10 Td (have ) Tj ET Q q 0 0 0 rg BT 122.58 262.10 Td (access ) Tj ET Q q 0 0 0 rg BT 151.18 262.10 Td (to ) Tj ET Q q 0 0 0 rg BT 161.46 262.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 191.73 262.10 Td (in ) Tj ET Q q 0 0 0 rg BT 202.57 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 217.85 262.10 Td (future.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 238.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.83 238.10 Td (may ) Tj ET Q q 0 0 0 rg BT 85.80 238.10 Td (need ) Tj ET Q q 0 0 0 rg BT 107.43 238.10 Td (new ) Tj ET Q q 0 0 0 rg BT 126.84 238.10 Td (or ) Tj ET Q q 0 0 0 rg BT 137.92 238.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 180.67 238.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 221.18 238.10 Td (in ) Tj ET Q q 0 0 0 rg BT 231.72 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 246.69 238.10 Td (future ) Tj ET Q q 0 0 0 rg BT 273.32 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 283.85 238.10 Td (conduct ) Tj ET Q q 0 0 0 rg BT 318.25 238.10 Td (our ) Tj ET Q q 0 0 0 rg BT 334.34 238.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 378.75 238.10 Td (or ) Tj ET Q q 0 0 0 rg BT 389.83 238.10 Td (expand ) Tj ET Q q 0 0 0 rg BT 421.46 238.10 Td (our ) Tj ET Q q 0 0 0 rg BT 437.54 238.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 476.69 238.10 Td (However) Tj ET Q q 0 0 0 rg BT 512.94 238.10 Td (, ) Tj ET Q q 0 0 0 rg BT 518.19 238.10 Td (we ) Tj ET Q q 0 0 0 rg BT 532.60 238.10 Td (may ) Tj ET Q q 0 0 0 rg BT 552.57 238.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (unable ) Tj ET Q q 0 0 0 rg BT 79.65 226.10 Td (to ) Tj ET Q q 0 0 0 rg BT 90.43 226.10 Td (raise ) Tj ET Q q 0 0 0 rg BT 112.31 226.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 141.96 226.10 Td (on ) Tj ET Q q 0 0 0 rg BT 154.96 226.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 195.71 226.10 Td (terms, ) Tj ET Q q 0 0 0 rg BT 223.43 226.10 Td (or ) Tj ET Q q 0 0 0 rg BT 234.76 226.10 Td (at ) Tj ET Q q 0 0 0 rg BT 244.97 226.10 Td (all, ) Tj ET Q q 0 0 0 rg BT 260.47 226.10 Td (including ) Tj ET Q q 0 0 0 rg BT 301.24 226.10 Td (as ) Tj ET Q q 0 0 0 rg BT 312.57 226.10 Td (a ) Tj ET Q q 0 0 0 rg BT 320.01 226.10 Td (result ) Tj ET Q q 0 0 0 rg BT 345.23 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 356.56 226.10 Td (disruptions, ) Tj ET Q q 0 0 0 rg BT 406.50 226.10 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 454.48 226.10 Td (and ) Tj ET Q q 0 0 0 rg BT 471.92 226.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 511.03 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 521.81 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 537.02 226.10 Td (global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 74.94 214.10 Td (markets, ) Tj ET Q q 0 0 0 rg BT 111.27 214.10 Td (or ) Tj ET Q q 0 0 0 rg BT 121.77 214.10 Td (due ) Tj ET Q q 0 0 0 rg BT 138.39 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 148.34 214.10 Td (any ) Tj ET Q q 0 0 0 rg BT 164.96 214.10 Td (sustained ) Tj ET Q q 0 0 0 rg BT 204.35 214.10 Td (weakness ) Tj ET Q q 0 0 0 rg BT 244.84 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 254.80 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 269.19 214.10 Td (general ) Tj ET Q q 0 0 0 rg BT 300.79 214.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 341.84 214.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 385.68 214.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 413.40 214.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 450.55 214.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 484.38 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 494.34 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 508.73 214.10 Td (United ) Tj ET Q q 0 0 0 rg BT 538.12 214.10 Td (States ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.52 202.10 Td (globally) Tj ET Q q 0 0 0 rg BT 92.64 202.10 Td (. ) Tj ET Q q 0 0 0 rg BT 97.32 202.10 Td (From ) Tj ET Q q 0 0 0 rg BT 121.18 202.10 Td (time ) Tj ET Q q 0 0 0 rg BT 141.14 202.10 Td (to ) Tj ET Q q 0 0 0 rg BT 151.10 202.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 173.56 202.10 Td (we ) Tj ET Q q 0 0 0 rg BT 187.40 202.10 Td (may ) Tj ET Q q 0 0 0 rg BT 206.81 202.10 Td (rely ) Tj ET Q q 0 0 0 rg BT 224.54 202.10 Td (on ) Tj ET Q q 0 0 0 rg BT 236.72 202.10 Td (access ) Tj ET Q q 0 0 0 rg BT 264.45 202.10 Td (to ) Tj ET Q q 0 0 0 rg BT 274.41 202.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 311.57 202.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 345.42 202.10 Td (as ) Tj ET Q q 0 0 0 rg BT 355.93 202.10 Td (a ) Tj ET Q q 0 0 0 rg BT 362.55 202.10 Td (source ) Tj ET Q q 0 0 0 rg BT 390.84 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 401.35 202.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 437.43 202.10 Td (for ) Tj ET Q q 0 0 0 rg BT 451.27 202.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 497.61 202.10 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 547.57 202.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (general ) Tj ET Q q 0 0 0 rg BT 81.92 190.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 122.18 190.10 Td (purposes.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.48 166.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 99.18 166.10 Td (public ) Tj ET Q q 0 0 0 rg BT 127.11 166.10 Td (float ) Tj ET Q q 0 0 0 rg BT 148.37 166.10 Td (and ) Tj ET Q q 0 0 0 rg BT 166.30 166.10 Td (trading ) Tj ET Q q 0 0 0 rg BT 198.69 166.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 231.05 166.10 Td (for ) Tj ET Q q 0 0 0 rg BT 245.65 166.10 Td (our ) Tj ET Q q 0 0 0 rg BT 262.47 166.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 291.52 166.10 Td (may ) Tj ET Q q 0 0 0 rg BT 311.11 166.10 Td (have ) Tj ET Q q 0 0 0 rg BT 332.92 166.10 Td (an ) Tj ET Q q 0 0 0 rg BT 345.85 166.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 379.32 166.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 409.47 166.10 Td (on ) Tj ET Q q 0 0 0 rg BT 422.40 166.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.55 166.10 Td (share ) Tj ET Q q 0 0 0 rg BT 462.71 166.10 Td (price ) Tj ET Q q 0 0 0 rg BT 485.63 166.10 Td (or ) Tj ET Q q 0 0 0 rg BT 496.89 166.10 Td (make ) Tj ET Q q 0 0 0 rg BT 521.48 166.10 Td (it ) Tj ET Q q 0 0 0 rg BT 529.41 166.10 Td (dif) Tj ET Q q 0 0 0 rg BT 540.33 166.10 Td (ficult ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 154.10 Td (liquidate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.43 130.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 107.07 130.10 Td (are ) Tj ET Q q 0 0 0 rg BT 121.15 130.10 Td (held ) Tj ET Q q 0 0 0 rg BT 140.25 130.10 Td (by ) Tj ET Q q 0 0 0 rg BT 152.13 130.10 Td (a ) Tj ET Q q 0 0 0 rg BT 158.44 130.10 Td (relatively ) Tj ET Q q 0 0 0 rg BT 198.08 130.10 Td (small ) Tj ET Q q 0 0 0 rg BT 221.62 130.10 Td (number ) Tj ET Q q 0 0 0 rg BT 254.05 130.10 Td (of ) Tj ET Q q 0 0 0 rg BT 264.25 130.10 Td (shareholders. ) Tj ET Q q 0 0 0 rg BT 319.17 130.10 Td ( ) Tj ET Q q 0 0 0 rg BT 321.04 130.10 Td (Future ) Tj ET Q q 0 0 0 rg BT 349.03 130.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 370.35 130.10 Td (of ) Tj ET Q q 0 0 0 rg BT 380.55 130.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 425.21 130.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 460.97 130.10 Td (of ) Tj ET Q q 0 0 0 rg BT 471.18 130.10 Td (our ) Tj ET Q q 0 0 0 rg BT 486.38 130.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 513.25 130.10 Td (in ) Tj ET Q q 0 0 0 rg BT 522.91 130.10 Td (the ) Tj ET Q q 0 0 0 rg BT 537.00 130.10 Td (public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (market, ) Tj ET Q q 0 0 0 rg BT 82.80 118.10 Td (or ) Tj ET Q q 0 0 0 rg BT 93.66 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 108.41 118.10 Td (perception ) Tj ET Q q 0 0 0 rg BT 153.14 118.10 Td (that ) Tj ET Q q 0 0 0 rg BT 170.67 118.10 Td (these ) Tj ET Q q 0 0 0 rg BT 193.75 118.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 215.72 118.10 Td (could ) Tj ET Q q 0 0 0 rg BT 240.46 118.10 Td (occur) Tj ET Q q 0 0 0 rg BT 262.27 118.10 Td (, ) Tj ET Q q 0 0 0 rg BT 267.30 118.10 Td (may ) Tj ET Q q 0 0 0 rg BT 287.05 118.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 327.90 118.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 357.64 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 372.39 118.10 Td (market ) Tj ET Q q 0 0 0 rg BT 402.69 118.10 Td (price ) Tj ET Q q 0 0 0 rg BT 425.20 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 436.06 118.10 Td (our ) Tj ET Q q 0 0 0 rg BT 451.93 118.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 479.45 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 496.42 118.10 Td (our ) Tj ET Q q 0 0 0 rg BT 512.28 118.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 539.80 118.10 Td (could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (be ) Tj ET Q q 0 0 0 rg BT 61.94 106.10 Td (dif) Tj ET Q q 0 0 0 rg BT 72.87 106.10 Td (ficult ) Tj ET Q q 0 0 0 rg BT 96.47 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 106.75 106.10 Td (liquidate.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 69.00 82.10 Td (business ) Tj ET Q q 0 0 0 rg BT 106.35 82.10 Td (depends ) Tj ET Q q 0 0 0 rg BT 142.00 82.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 165.46 82.10 Td (key ) Tj ET Q q 0 0 0 rg BT 181.66 82.10 Td (employees, ) Tj ET Q q 0 0 0 rg BT 228.69 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 246.58 82.10 Td (if ) Tj ET Q q 0 0 0 rg BT 255.02 82.10 Td (we ) Tj ET Q q 0 0 0 rg BT 268.45 82.10 Td (are ) Tj ET Q q 0 0 0 rg BT 284.11 82.10 Td (unable ) Tj ET Q q 0 0 0 rg BT 314.78 82.10 Td (to ) Tj ET Q q 0 0 0 rg BT 324.89 82.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 351.66 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 366.77 82.10 Td (services ) Tj ET Q q 0 0 0 rg BT 401.30 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 411.96 82.10 Td (these ) Tj ET Q q 0 0 0 rg BT 435.40 82.10 Td (key ) Tj ET Q q 0 0 0 rg BT 451.60 82.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 496.13 82.10 Td (or ) Tj ET Q q 0 0 0 rg BT 507.35 82.10 Td (to ) Tj ET Q q 0 0 0 rg BT 517.46 82.10 Td (attract ) Tj ET Q q 0 0 0 rg BT 546.45 82.10 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 76.95 70.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 121.12 70.10 Td (qualified ) Tj ET Q q 0 0 0 rg BT 160.29 70.10 Td (personnel, ) Tj ET Q q 0 0 0 rg BT 205.85 70.10 Td (our ) Tj ET Q q 0 0 0 rg BT 222.80 70.10 Td (business ) Tj ET Q q 0 0 0 rg BT 260.32 70.10 Td (may ) Tj ET Q q 0 0 0 rg BT 280.03 70.10 Td (suf) Tj ET Q q 0 0 0 rg BT 292.64 70.10 Td (fer) Tj ET Q q 0 0 0 rg BT 303.75 70.10 Td (.) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.33 742.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 112.76 742.10 Td (depend, ) Tj ET Q q 0 0 0 rg BT 146.91 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 157.46 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 164.68 742.10 Td (great ) Tj ET Q q 0 0 0 rg BT 187.44 742.10 Td (extent, ) Tj ET Q q 0 0 0 rg BT 217.14 742.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 239.92 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 254.91 742.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 283.24 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 294.34 742.10 Td (executive ) Tj ET Q q 0 0 0 rg BT 335.43 742.10 Td (management ) Tj ET Q q 0 0 0 rg BT 389.29 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 406.50 742.10 Td (other ) Tj ET Q q 0 0 0 rg BT 429.83 742.10 Td (key ) Tj ET Q q 0 0 0 rg BT 447.04 742.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 492.58 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 503.13 742.10 Td (implement ) Tj ET Q q 0 0 0 rg BT 548.68 742.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (business ) Tj ET Q q 0 0 0 rg BT 86.56 730.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 120.88 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 137.98 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 153.98 730.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 182.19 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 192.64 730.10 Td (attract ) Tj ET Q q 0 0 0 rg BT 220.28 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 237.38 730.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 262.81 730.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 305.47 730.10 Td (qualified ) Tj ET Q q 0 0 0 rg BT 343.68 730.10 Td (personnel ) Tj ET Q q 0 0 0 rg BT 385.22 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 395.66 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 410.54 730.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 439.39 730.10 Td (The ) Tj ET Q q 0 0 0 rg BT 457.60 730.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 475.83 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 486.83 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 501.71 730.10 Td (services ) Tj ET Q q 0 0 0 rg BT 536.58 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 547.57 730.10 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.25 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 77.50 718.10 Td (key ) Tj ET Q q 0 0 0 rg BT 94.85 718.10 Td (employees, ) Tj ET Q q 0 0 0 rg BT 143.03 718.10 Td (or ) Tj ET Q q 0 0 0 rg BT 154.28 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 169.41 718.10 Td (inability ) Tj ET Q q 0 0 0 rg BT 205.66 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 216.36 718.10 Td (identify) Tj ET Q q 0 0 0 rg BT 246.81 718.10 Td (, ) Tj ET Q q 0 0 0 rg BT 252.23 718.10 Td (hire ) Tj ET Q q 0 0 0 rg BT 270.69 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 288.05 718.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 313.73 718.10 Td (other ) Tj ET Q q 0 0 0 rg BT 337.19 718.10 Td (highly ) Tj ET Q q 0 0 0 rg BT 365.67 718.10 Td (qualified ) Tj ET Q q 0 0 0 rg BT 404.13 718.10 Td (personnel ) Tj ET Q q 0 0 0 rg BT 445.92 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 456.62 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 471.75 718.10 Td (future ) Tj ET Q q 0 0 0 rg BT 498.55 718.10 Td (could ) Tj ET Q q 0 0 0 rg BT 523.68 718.10 Td (adversely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 706.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 74.92 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 89.48 706.10 Td (quality ) Tj ET Q q 0 0 0 rg BT 119.60 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 136.38 706.10 Td (profitability ) Tj ET Q q 0 0 0 rg BT 186.50 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 197.17 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 212.85 706.10 Td (business ) Tj ET Q q 0 0 0 rg BT 249.08 706.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 295.58 706.10 Td (In ) Tj ET Q q 0 0 0 rg BT 306.26 706.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 343.88 706.10 Td (we ) Tj ET Q q 0 0 0 rg BT 357.88 706.10 Td (must ) Tj ET Q q 0 0 0 rg BT 379.68 706.10 Td (forecast ) Tj ET Q q 0 0 0 rg BT 413.67 706.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 446.01 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 462.79 706.10 Td (other ) Tj ET Q q 0 0 0 rg BT 485.68 706.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 515.24 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 525.36 706.10 Td (changing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (business ) Tj ET Q q 0 0 0 rg BT 85.58 694.10 Td (environments ) Tj ET Q q 0 0 0 rg BT 141.70 694.10 Td (with ) Tj ET Q q 0 0 0 rg BT 161.16 694.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 205.61 694.10 Td (accuracy ) Tj ET Q q 0 0 0 rg BT 242.81 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 258.94 694.10 Td (adjust ) Tj ET Q q 0 0 0 rg BT 284.51 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 299.53 694.10 Td (hiring ) Tj ET Q q 0 0 0 rg BT 325.10 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 341.23 694.10 Td (employment ) Tj ET Q q 0 0 0 rg BT 392.91 694.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 417.92 694.10 Td (accordingly) Tj ET Q q 0 0 0 rg BT 464.47 694.10 Td (. ) Tj ET Q q 0 0 0 rg BT 468.66 694.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 485.90 694.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 513.68 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 523.14 694.10 Td (recognize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.24 682.10 Td (need ) Tj ET Q q 0 0 0 rg BT 85.15 682.10 Td (for ) Tj ET Q q 0 0 0 rg BT 98.83 682.10 Td (such ) Tj ET Q q 0 0 0 rg BT 119.19 682.10 Td (adjustments, ) Tj ET Q q 0 0 0 rg BT 171.49 682.10 Td (or ) Tj ET Q q 0 0 0 rg BT 181.85 682.10 Td (our ) Tj ET Q q 0 0 0 rg BT 197.20 682.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 225.32 682.10 Td (or ) Tj ET Q q 0 0 0 rg BT 235.68 682.10 Td (inability ) Tj ET Q q 0 0 0 rg BT 271.04 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 280.84 682.10 Td (react ) Tj ET Q q 0 0 0 rg BT 302.29 682.10 Td (appropriately ) Tj ET Q q 0 0 0 rg BT 357.63 682.10 Td (on ) Tj ET Q q 0 0 0 rg BT 369.65 682.10 Td (a ) Tj ET Q q 0 0 0 rg BT 376.12 682.10 Td (timely ) Tj ET Q q 0 0 0 rg BT 403.70 682.10 Td (basis, ) Tj ET Q q 0 0 0 rg BT 428.22 682.10 Td (could ) Tj ET Q q 0 0 0 rg BT 452.47 682.10 Td (lead ) Tj ET Q q 0 0 0 rg BT 471.15 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 480.95 682.10 Td (over) Tj ET Q q 0 0 0 rg BT 498.52 682.10 Td (-staf) Tj ET Q q 0 0 0 rg BT 516.11 682.10 Td (fing ) Tj ET Q q 0 0 0 rg BT 534.24 682.10 Td (\(which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (could ) Tj ET Q q 0 0 0 rg BT 75.18 670.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 116.46 670.10 Td (af) Tj ET Q q 0 0 0 rg BT 124.04 670.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 141.99 670.10 Td (our ) Tj ET Q q 0 0 0 rg BT 158.28 670.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 177.35 670.10 Td (structure\) ) Tj ET Q q 0 0 0 rg BT 218.63 670.10 Td (or ) Tj ET Q q 0 0 0 rg BT 229.92 670.10 Td (under) Tj ET Q q 0 0 0 rg BT 252.49 670.10 Td (-staf) Tj ET Q q 0 0 0 rg BT 270.08 670.10 Td (fing ) Tj ET Q q 0 0 0 rg BT 289.15 670.10 Td (\(which ) Tj ET Q q 0 0 0 rg BT 319.88 670.10 Td (could ) Tj ET Q q 0 0 0 rg BT 345.05 670.10 Td (impair ) Tj ET Q q 0 0 0 rg BT 374.12 670.10 Td (our ) Tj ET Q q 0 0 0 rg BT 390.41 670.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 418.92 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 429.66 670.10 Td (service ) Tj ET Q q 0 0 0 rg BT 460.94 670.10 Td (current ) Tj ET Q q 0 0 0 rg BT 492.22 670.10 Td (product ) Tj ET Q q 0 0 0 rg BT 525.73 670.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 547.57 670.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (new ) Tj ET Q q 0 0 0 rg BT 69.16 658.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 90.55 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 101.38 658.10 Td (business\). ) Tj ET Q q 0 0 0 rg BT 143.60 658.10 Td (In ) Tj ET Q q 0 0 0 rg BT 154.43 658.10 Td (either ) Tj ET Q q 0 0 0 rg BT 179.69 658.10 Td (event, ) Tj ET Q q 0 0 0 rg BT 206.35 658.10 Td (our ) Tj ET Q q 0 0 0 rg BT 222.18 658.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 259.66 658.10 Td (results ) Tj ET Q q 0 0 0 rg BT 288.27 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 305.21 658.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 344.36 658.10 Td (relationships ) Tj ET Q q 0 0 0 rg BT 397.96 658.10 Td (could ) Tj ET Q q 0 0 0 rg BT 422.68 658.10 Td (be ) Tj ET Q q 0 0 0 rg BT 434.62 658.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 475.43 658.10 Td (af) Tj ET Q q 0 0 0 rg BT 483.02 658.10 Td (fected.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Compliance ) Tj ET Q q 0 0 0 rg BT 103.61 634.10 Td (Risks) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 610.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.09 610.10 Td (are ) Tj ET Q q 0 0 0 rg BT 80.92 610.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 112.30 610.10 Td (to ) Tj ET Q q 0 0 0 rg BT 122.58 610.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 186.74 610.10 Td (regulation, ) Tj ET Q q 0 0 0 rg BT 234.53 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 252.59 610.10 Td (our ) Tj ET Q q 0 0 0 rg BT 269.54 610.10 Td (results ) Tj ET Q q 0 0 0 rg BT 299.27 610.10 Td (may ) Tj ET Q q 0 0 0 rg BT 318.99 610.10 Td (be ) Tj ET Q q 0 0 0 rg BT 330.93 610.10 Td (unfavorably ) Tj ET Q q 0 0 0 rg BT 383.43 610.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 423.14 610.10 Td (by ) Tj ET Q q 0 0 0 rg BT 435.08 610.10 Td (these ) Tj ET Q q 0 0 0 rg BT 458.69 610.10 Td (regulations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.99 586.10 Td (a ) Tj ET Q q 0 0 0 rg BT 71.31 586.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 104.75 586.10 Td (company ) Tj ET Q q 0 0 0 rg BT 144.29 586.10 Td (which ) Tj ET Q q 0 0 0 rg BT 171.61 586.10 Td (owns ) Tj ET Q q 0 0 0 rg BT 195.60 586.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 236.80 586.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 282.44 586.10 Td (domiciled ) Tj ET Q q 0 0 0 rg BT 325.31 586.10 Td (in ) Tj ET Q q 0 0 0 rg BT 335.97 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 351.07 586.10 Td (United ) Tj ET Q q 0 0 0 rg BT 381.17 586.10 Td (States, ) Tj ET Q q 0 0 0 rg BT 410.43 586.10 Td (we ) Tj ET Q q 0 0 0 rg BT 424.98 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 442.29 586.10 Td (our ) Tj ET Q q 0 0 0 rg BT 458.51 586.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 499.70 586.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 549.80 586.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 80.38 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 90.20 574.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 152.79 574.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 175.67 574.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 222.15 574.10 Td (and ) Tj ET Q q 0 0 0 rg BT 238.64 574.10 Td (rules. ) Tj ET Q q 0 0 0 rg BT 262.48 574.10 Td (These ) Tj ET Q q 0 0 0 rg BT 288.40 574.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 311.28 574.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 357.77 574.10 Td (and ) Tj ET Q q 0 0 0 rg BT 374.25 574.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 395.74 574.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 435.00 574.10 Td (delegate ) Tj ET Q q 0 0 0 rg BT 470.36 574.10 Td (regulatory) Tj ET Q q 0 0 0 rg BT 510.80 574.10 Td (, ) Tj ET Q q 0 0 0 rg BT 515.35 574.10 Td (supervisory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.75 562.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 128.27 562.10 Td (powers ) Tj ET Q q 0 0 0 rg BT 160.46 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 171.55 562.10 Td (state ) Tj ET Q q 0 0 0 rg BT 193.18 562.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 234.81 562.10 Td (regulators. ) Tj ET Q q 0 0 0 rg BT 280.61 562.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 322.78 562.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 370.53 562.10 Td (are ) Tj ET Q q 0 0 0 rg BT 386.04 562.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 426.56 562.10 Td (designed ) Tj ET Q q 0 0 0 rg BT 465.42 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 476.50 562.10 Td (protect ) Tj ET Q q 0 0 0 rg BT 507.58 562.10 Td (policyholders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (rather ) Tj ET Q q 0 0 0 rg BT 75.82 550.10 Td (than ) Tj ET Q q 0 0 0 rg BT 95.53 550.10 Td (shareholders, ) Tj ET Q q 0 0 0 rg BT 151.07 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 168.01 550.10 Td (are ) Tj ET Q q 0 0 0 rg BT 182.71 550.10 Td (related ) Tj ET Q q 0 0 0 rg BT 212.42 550.10 Td (to ) Tj ET Q q 0 0 0 rg BT 222.70 550.10 Td (matters ) Tj ET Q q 0 0 0 rg BT 254.63 550.10 Td (including ) Tj ET Q q 0 0 0 rg BT 294.90 550.10 Td (but ) Tj ET Q q 0 0 0 rg BT 310.18 550.10 Td (not ) Tj ET Q q 0 0 0 rg BT 325.46 550.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 356.29 550.10 Td (to:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 526.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 139.49 526.10 Td (setting;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 514.10 Td (RBC ) Tj ET Q q 0 0 0 rg BT 144.51 514.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 165.33 514.10 Td (and ) Tj ET Q q 0 0 0 rg BT 182.27 514.10 Td (solvency ) Tj ET Q q 0 0 0 rg BT 220.32 514.10 Td (requirements;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 502.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 168.05 502.10 Td (on ) Tj ET Q q 0 0 0 rg BT 179.68 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 193.51 502.10 Td (amount, ) Tj ET Q q 0 0 0 rg BT 227.63 502.10 Td (type, ) Tj ET Q q 0 0 0 rg BT 248.97 502.10 Td (nature, ) Tj ET Q q 0 0 0 rg BT 278.07 502.10 Td (quality ) Tj ET Q q 0 0 0 rg BT 307.47 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 323.53 502.10 Td (quantity ) Tj ET Q q 0 0 0 rg BT 357.92 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 367.87 502.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 407.26 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 423.32 502.10 Td (other ) Tj ET Q q 0 0 0 rg BT 445.49 502.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 494.88 502.10 Td (in ) Tj ET Q q 0 0 0 rg BT 504.28 502.10 Td (which ) Tj ET Q q 0 0 0 rg BT 530.34 502.10 Td (insurers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 490.10 Td (may ) Tj ET Q q 0 0 0 rg BT 141.72 490.10 Td (invest;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 136.23 478.10 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 188.77 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 199.11 478.10 Td (adequate ) Tj ET Q q 0 0 0 rg BT 236.65 478.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 271.42 478.10 Td (for ) Tj ET Q q 0 0 0 rg BT 285.10 478.10 Td (unearned ) Tj ET Q q 0 0 0 rg BT 323.75 478.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 365.76 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 382.21 478.10 Td (unpaid, ) Tj ET Q q 0 0 0 rg BT 413.94 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 430.39 478.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 465.72 478.10 Td (but ) Tj ET Q q 0 0 0 rg BT 480.51 478.10 Td (not ) Tj ET Q q 0 0 0 rg BT 495.30 478.10 Td (reported, ) Tj ET Q q 0 0 0 rg BT 533.12 478.10 Td (claims;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 466.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 168.93 466.10 Td (on ) Tj ET Q q 0 0 0 rg BT 181.43 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 196.15 466.10 Td (types ) Tj ET Q q 0 0 0 rg BT 219.76 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 230.59 466.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 255.31 466.10 Td (that ) Tj ET Q q 0 0 0 rg BT 272.80 466.10 Td (can ) Tj ET Q q 0 0 0 rg BT 289.18 466.10 Td (be ) Tj ET Q q 0 0 0 rg BT 301.12 466.10 Td (included ) Tj ET Q q 0 0 0 rg BT 338.05 466.10 Td (in ) Tj ET Q q 0 0 0 rg BT 348.33 466.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 389.14 466.10 Td (policies;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 454.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 454.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 162.27 454.10 Td (for ) Tj ET Q q 0 0 0 rg BT 176.43 454.10 Td (accounting;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 442.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 442.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 165.04 442.10 Td (practices;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 430.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 430.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 150.60 430.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 194.20 430.10 Td (practices;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 418.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 138.00 418.10 Td (examination ) Tj ET Q q 0 0 0 rg BT 191.22 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 203.33 418.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 245.43 418.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 291.98 418.10 Td (by ) Tj ET Q q 0 0 0 rg BT 305.77 418.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 350.64 418.10 Td (authorities, ) Tj ET Q q 0 0 0 rg BT 399.14 418.10 Td (including ) Tj ET Q q 0 0 0 rg BT 440.70 418.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 477.25 418.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 516.01 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 534.24 418.10 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 406.10 Td (conduct ) Tj ET Q q 0 0 0 rg BT 156.16 406.10 Td (examinations;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 394.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 176.89 394.10 Td (to ) Tj ET Q q 0 0 0 rg BT 187.36 394.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 220.05 394.10 Td (with ) Tj ET Q q 0 0 0 rg BT 240.52 394.10 Td (medical ) Tj ET Q q 0 0 0 rg BT 274.86 394.10 Td (privacy ) Tj ET Q q 0 0 0 rg BT 307.53 394.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 328.55 394.10 Td (as ) Tj ET Q q 0 0 0 rg BT 339.57 394.10 Td (a ) Tj ET Q q 0 0 0 rg BT 346.70 394.10 Td (result ) Tj ET Q q 0 0 0 rg BT 371.61 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 382.63 394.10 Td (our ) Tj ET Q q 0 0 0 rg BT 398.65 394.10 Td (administration ) Tj ET Q q 0 0 0 rg BT 459.11 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 470.13 394.10 Td (Gateway's ) Tj ET Q q 0 0 0 rg BT 514.05 394.10 Td (run-of) Tj ET Q q 0 0 0 rg BT 538.86 394.10 Td (f ) Tj ET Q q 0 0 0 rg BT 544.88 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 547.57 394.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 382.10 Td (American ) Tj ET Q q 0 0 0 rg BT 163.92 382.10 Td (Country's ) Tj ET Q q 0 0 0 rg BT 204.90 382.10 Td (transportation ) Tj ET Q q 0 0 0 rg BT 262.94 382.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 299.45 382.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 357.49 382.10 Td (business;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 370.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 136.72 370.10 Td (licensing ) Tj ET Q q 0 0 0 rg BT 175.32 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 186.15 370.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 220.31 370.10 Td (and ) Tj ET Q q 0 0 0 rg BT 237.25 370.10 Td (their ) Tj ET Q q 0 0 0 rg BT 258.07 370.10 Td (agents;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 358.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 358.10 Td (limitations ) Tj ET Q q 0 0 0 rg BT 167.28 358.10 Td (on ) Tj ET Q q 0 0 0 rg BT 179.78 358.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 221.17 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 238.10 358.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 288.37 358.10 Td (with ) Tj ET Q q 0 0 0 rg BT 308.65 358.10 Td (af) Tj ET Q q 0 0 0 rg BT 316.23 358.10 Td (filiates;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 346.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 346.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 159.49 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 170.32 346.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 200.02 346.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 248.60 346.10 Td (transactions;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 334.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 334.10 Td (insolvency ) Tj ET Q q 0 0 0 rg BT 167.83 334.10 Td (proceedings;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 322.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 322.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 150.05 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 160.33 322.10 Td (enter ) Tj ET Q q 0 0 0 rg BT 182.82 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 199.75 322.10 Td (exit ) Tj ET Q q 0 0 0 rg BT 217.25 322.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 246.95 322.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 287.77 322.10 Td (markets, ) Tj ET Q q 0 0 0 rg BT 324.42 322.10 Td (cancel ) Tj ET Q q 0 0 0 rg BT 352.45 322.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 386.06 322.10 Td (or ) Tj ET Q q 0 0 0 rg BT 396.89 322.10 Td (non-renew ) Tj ET Q q 0 0 0 rg BT 442.15 322.10 Td (policies; ) Tj ET Q q 0 0 0 rg BT 478.53 322.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 310.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 310.10 Td (data ) Tj ET Q q 0 0 0 rg BT 141.16 310.10 Td (privacy) Tj ET Q q 0 0 0 rg BT 170.49 310.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (Such ) Tj ET Q q 0 0 0 rg BT 71.94 286.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 94.71 286.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 141.09 286.10 Td (and ) Tj ET Q q 0 0 0 rg BT 157.47 286.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 178.85 286.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 213.54 286.10 Td (our ) Tj ET Q q 0 0 0 rg BT 228.81 286.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 250.19 286.10 Td (and ) Tj ET Q q 0 0 0 rg BT 266.56 286.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 303.49 286.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 351.52 286.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 373.46 286.10 Td (and ) Tj ET Q q 0 0 0 rg BT 389.84 286.10 Td (make ) Tj ET Q q 0 0 0 rg BT 413.43 286.10 Td (some ) Tj ET Q q 0 0 0 rg BT 436.48 286.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 474.52 286.10 Td (more ) Tj ET Q q 0 0 0 rg BT 497.01 286.10 Td (time-consuming ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.24 274.10 Td (costly) Tj ET Q q 0 0 0 rg BT 90.47 274.10 Td (. ) Tj ET Q q 0 0 0 rg BT 95.15 274.10 Td (Any ) Tj ET Q q 0 0 0 rg BT 115.17 274.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 144.06 274.10 Td (to ) Tj ET Q q 0 0 0 rg BT 154.64 274.10 Td (monitor ) Tj ET Q q 0 0 0 rg BT 189.10 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 206.33 274.10 Td (address ) Tj ET Q q 0 0 0 rg BT 239.12 274.10 Td (any ) Tj ET Q q 0 0 0 rg BT 256.36 274.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 289.69 274.10 Td (control ) Tj ET Q q 0 0 0 rg BT 320.82 274.10 Td (issues ) Tj ET Q q 0 0 0 rg BT 347.51 274.10 Td (could ) Tj ET Q q 0 0 0 rg BT 372.52 274.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 413.63 274.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 443.64 274.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 484.20 274.10 Td (results. ) Tj ET Q q 0 0 0 rg BT 515.61 274.10 Td (In ) Tj ET Q q 0 0 0 rg BT 526.73 274.10 Td (addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.73 262.10 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 130.55 262.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 147.50 262.10 Td (requires, ) Tj ET Q q 0 0 0 rg BT 184.71 262.10 Td (among ) Tj ET Q q 0 0 0 rg BT 214.44 262.10 Td (other ) Tj ET Q q 0 0 0 rg BT 237.49 262.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 266.95 262.10 Td (that ) Tj ET Q q 0 0 0 rg BT 284.45 262.10 Td (we ) Tj ET Q q 0 0 0 rg BT 298.62 262.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 336.12 262.10 Td (ef) Tj ET Q q 0 0 0 rg BT 343.71 262.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 373.42 262.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 416.48 262.10 Td (controls ) Tj ET Q q 0 0 0 rg BT 451.20 262.10 Td (and ) Tj ET Q q 0 0 0 rg BT 468.15 262.10 Td (procedures ) Tj ET Q q 0 0 0 rg BT 514.52 262.10 Td (and ) Tj ET Q q 0 0 0 rg BT 531.47 262.10 Td (internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (control ) Tj ET Q q 0 0 0 rg BT 81.03 250.10 Td (over ) Tj ET Q q 0 0 0 rg BT 101.51 250.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 139.20 250.10 Td (reporting. ) Tj ET Q q 0 0 0 rg BT 180.46 250.10 Td (A) Tj ET Q q 0 0 0 rg BT 187.13 250.10 Td ( ) Tj ET Q q 0 0 0 rg BT 189.84 250.10 Td (deficiency ) Tj ET Q q 0 0 0 rg BT 234.19 250.10 Td (in ) Tj ET Q q 0 0 0 rg BT 244.67 250.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 277.92 250.10 Td (control ) Tj ET Q q 0 0 0 rg BT 308.96 250.10 Td (exists ) Tj ET Q q 0 0 0 rg BT 334.44 250.10 Td (when ) Tj ET Q q 0 0 0 rg BT 358.81 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 373.73 250.10 Td (design ) Tj ET Q q 0 0 0 rg BT 402.55 250.10 Td (or ) Tj ET Q q 0 0 0 rg BT 413.59 250.10 Td (operation ) Tj ET Q q 0 0 0 rg BT 454.06 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 465.10 250.10 Td (a ) Tj ET Q q 0 0 0 rg BT 472.24 250.10 Td (control ) Tj ET Q q 0 0 0 rg BT 503.27 250.10 Td (does ) Tj ET Q q 0 0 0 rg BT 524.31 250.10 Td (not ) Tj ET Q q 0 0 0 rg BT 539.80 250.10 Td (allow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (management ) Tj ET Q q 0 0 0 rg BT 105.50 238.10 Td (or ) Tj ET Q q 0 0 0 rg BT 118.24 238.10 Td (employees, ) Tj ET Q q 0 0 0 rg BT 167.91 238.10 Td (in ) Tj ET Q q 0 0 0 rg BT 180.10 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 196.72 238.10 Td (normal ) Tj ET Q q 0 0 0 rg BT 229.46 238.10 Td (course ) Tj ET Q q 0 0 0 rg BT 259.96 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 272.70 238.10 Td (performing ) Tj ET Q q 0 0 0 rg BT 322.10 238.10 Td (their ) Tj ET Q q 0 0 0 rg BT 344.83 238.10 Td (assigned ) Tj ET Q q 0 0 0 rg BT 383.68 238.10 Td (functions, ) Tj ET Q q 0 0 0 rg BT 427.80 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 439.99 238.10 Td (prevent ) Tj ET Q q 0 0 0 rg BT 474.38 238.10 Td (or ) Tj ET Q q 0 0 0 rg BT 487.12 238.10 Td (detect ) Tj ET Q q 0 0 0 rg BT 515.40 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 534.25 238.10 Td (correct ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (misstatements ) Tj ET Q q 0 0 0 rg BT 108.92 226.10 Td (on ) Tj ET Q q 0 0 0 rg BT 121.19 226.10 Td (a ) Tj ET Q q 0 0 0 rg BT 127.89 226.10 Td (timely ) Tj ET Q q 0 0 0 rg BT 155.71 226.10 Td (basis. ) Tj ET Q q 0 0 0 rg BT 179.97 226.10 Td (A) Tj ET Q q 0 0 0 rg BT 186.64 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 188.91 226.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 233.38 226.10 Td (deficiency ) Tj ET Q q 0 0 0 rg BT 277.29 226.10 Td (is ) Tj ET Q q 0 0 0 rg BT 286.22 226.10 Td (a ) Tj ET Q q 0 0 0 rg BT 292.93 226.10 Td (deficiency) Tj ET Q q 0 0 0 rg BT 333.92 226.10 Td (, ) Tj ET Q q 0 0 0 rg BT 338.68 226.10 Td (or ) Tj ET Q q 0 0 0 rg BT 349.28 226.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 401.53 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 412.13 226.10 Td (deficiencies, ) Tj ET Q q 0 0 0 rg BT 464.64 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 474.68 226.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 507.49 226.10 Td (control ) Tj ET Q q 0 0 0 rg BT 538.08 226.10 Td (that ) Tj ET Q q 0 0 0 rg BT 555.34 226.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (less ) Tj ET Q q 0 0 0 rg BT 68.38 214.10 Td (severe ) Tj ET Q q 0 0 0 rg BT 97.29 214.10 Td (than ) Tj ET Q q 0 0 0 rg BT 117.89 214.10 Td (a ) Tj ET Q q 0 0 0 rg BT 125.71 214.10 Td (material ) Tj ET Q q 0 0 0 rg BT 161.85 214.10 Td (weakness, ) Tj ET Q q 0 0 0 rg BT 206.04 214.10 Td (yet ) Tj ET Q q 0 0 0 rg BT 221.64 214.10 Td (important ) Tj ET Q q 0 0 0 rg BT 263.90 214.10 Td (enough ) Tj ET Q q 0 0 0 rg BT 296.72 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 307.88 214.10 Td (merit ) Tj ET Q q 0 0 0 rg BT 332.36 214.10 Td (attention ) Tj ET Q q 0 0 0 rg BT 370.73 214.10 Td (by ) Tj ET Q q 0 0 0 rg BT 384.11 214.10 Td (those ) Tj ET Q q 0 0 0 rg BT 408.59 214.10 Td (char) Tj ET Q q 0 0 0 rg BT 425.62 214.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 443.44 214.10 Td (with ) Tj ET Q q 0 0 0 rg BT 464.59 214.10 Td (governance. ) Tj ET Q q 0 0 0 rg BT 516.56 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 519.19 214.10 Td (A) Tj ET Q q 0 0 0 rg BT 525.86 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 529.24 214.10 Td (material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (weakness ) Tj ET Q q 0 0 0 rg BT 89.92 202.10 Td (is ) Tj ET Q q 0 0 0 rg BT 98.19 202.10 Td (a ) Tj ET Q q 0 0 0 rg BT 104.23 202.10 Td (deficiency) Tj ET Q q 0 0 0 rg BT 145.22 202.10 Td (, ) Tj ET Q q 0 0 0 rg BT 149.32 202.10 Td (or ) Tj ET Q q 0 0 0 rg BT 159.25 202.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 210.84 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 220.77 202.10 Td (deficiencies, ) Tj ET Q q 0 0 0 rg BT 272.62 202.10 Td (in ) Tj ET Q q 0 0 0 rg BT 282.00 202.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 314.15 202.10 Td (control, ) Tj ET Q q 0 0 0 rg BT 346.57 202.10 Td (such ) Tj ET Q q 0 0 0 rg BT 366.50 202.10 Td (that ) Tj ET Q q 0 0 0 rg BT 383.10 202.10 Td (there ) Tj ET Q q 0 0 0 rg BT 404.68 202.10 Td (is ) Tj ET Q q 0 0 0 rg BT 412.95 202.10 Td (a ) Tj ET Q q 0 0 0 rg BT 418.99 202.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 463.35 202.10 Td (possibility ) Tj ET Q q 0 0 0 rg BT 506.62 202.10 Td (that ) Tj ET Q q 0 0 0 rg BT 523.22 202.10 Td (a ) Tj ET Q q 0 0 0 rg BT 529.26 202.10 Td (material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (misstatement ) Tj ET Q q 0 0 0 rg BT 105.10 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 115.75 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 130.30 190.10 Td (entity's ) Tj ET Q q 0 0 0 rg BT 161.09 190.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 198.40 190.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 242.94 190.10 Td (will ) Tj ET Q q 0 0 0 rg BT 260.83 190.10 Td (not ) Tj ET Q q 0 0 0 rg BT 275.93 190.10 Td (be ) Tj ET Q q 0 0 0 rg BT 287.70 190.10 Td (prevented, ) Tj ET Q q 0 0 0 rg BT 331.95 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 342.61 190.10 Td (detected ) Tj ET Q q 0 0 0 rg BT 378.25 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 395.02 190.10 Td (corrected ) Tj ET Q q 0 0 0 rg BT 434.54 190.10 Td (on ) Tj ET Q q 0 0 0 rg BT 446.87 190.10 Td (a ) Tj ET Q q 0 0 0 rg BT 453.63 190.10 Td (timely ) Tj ET Q q 0 0 0 rg BT 481.51 190.10 Td (basis. ) Tj ET Q q 0 0 0 rg BT 506.34 190.10 Td (Following ) Tj ET Q q 0 0 0 rg BT 549.79 190.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 80.60 178.10 Td (mer) Tj ET Q q 0 0 0 rg BT 95.97 178.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 110.47 178.10 Td (on ) Tj ET Q q 0 0 0 rg BT 122.21 178.10 Td (December ) Tj ET Q q 0 0 0 rg BT 165.03 178.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 179.26 178.10 Td (2010 ) Tj ET Q q 0 0 0 rg BT 201.00 178.10 Td (wherein ) Tj ET Q q 0 0 0 rg BT 234.94 178.10 Td (the ) Tj ET Q q 0 0 0 rg BT 248.89 178.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 288.94 178.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 337.89 178.10 Td (were ) Tj ET Q q 0 0 0 rg BT 359.05 178.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 404.09 178.10 Td (to ) Tj ET Q q 0 0 0 rg BT 413.61 178.10 Td (us ) Tj ET Q q 0 0 0 rg BT 424.23 178.10 Td (by ) Tj ET Q q 0 0 0 rg BT 435.97 178.10 Td (KAI, ) Tj ET Q q 0 0 0 rg BT 457.98 178.10 Td (no ) Tj ET Q q 0 0 0 rg BT 469.71 178.10 Td (deficiencies ) Tj ET Q q 0 0 0 rg BT 519.20 178.10 Td (or ) Tj ET Q q 0 0 0 rg BT 529.26 178.10 Td (material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (weaknesses ) Tj ET Q q 0 0 0 rg BT 99.15 166.10 Td (have ) Tj ET Q q 0 0 0 rg BT 120.53 166.10 Td (been ) Tj ET Q q 0 0 0 rg BT 141.90 166.10 Td (identified. ) Tj ET Q q 0 0 0 rg BT 185.22 166.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (State ) Tj ET Q q 0 0 0 rg BT 72.23 142.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 112.77 142.10 Td (departments ) Tj ET Q q 0 0 0 rg BT 163.88 142.10 Td (conduct ) Tj ET Q q 0 0 0 rg BT 197.76 142.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 232.76 142.10 Td (examinations ) Tj ET Q q 0 0 0 rg BT 288.31 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 298.87 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 313.32 142.10 Td (af) Tj ET Q q 0 0 0 rg BT 320.91 142.10 Td (fairs ) Tj ET Q q 0 0 0 rg BT 340.91 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 351.47 142.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 392.02 142.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 437.01 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.68 142.10 Td (require ) Tj ET Q q 0 0 0 rg BT 484.23 142.10 Td (filing ) Tj ET Q q 0 0 0 rg BT 508.13 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.69 142.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 547.57 142.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (other ) Tj ET Q q 0 0 0 rg BT 72.96 130.10 Td (reports ) Tj ET Q q 0 0 0 rg BT 103.14 130.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 136.10 130.10 Td (to ) Tj ET Q q 0 0 0 rg BT 146.29 130.10 Td (the ) Tj ET Q q 0 0 0 rg BT 160.92 130.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 198.31 130.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 238.50 130.10 Td (of ) Tj ET Q q 0 0 0 rg BT 249.25 130.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 289.97 130.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 337.65 130.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 370.62 130.10 Td (company ) Tj ET Q q 0 0 0 rg BT 409.69 130.10 Td (issues ) Tj ET Q q 0 0 0 rg BT 436.00 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 452.85 130.10 Td (other ) Tj ET Q q 0 0 0 rg BT 475.81 130.10 Td (matters. ) Tj ET Q q 0 0 0 rg BT 510.16 130.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 528.12 130.10 Td (business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (depends ) Tj ET Q q 0 0 0 rg BT 85.68 118.10 Td (on ) Tj ET Q q 0 0 0 rg BT 98.59 118.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 147.60 118.10 Td (with ) Tj ET Q q 0 0 0 rg BT 168.29 118.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 212.29 118.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 236.03 118.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 283.38 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 300.73 118.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 323.08 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 340.43 118.10 Td (our ) Tj ET Q q 0 0 0 rg BT 356.67 118.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 385.14 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 395.83 118.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 433.73 118.10 Td (valid ) Tj ET Q q 0 0 0 rg BT 456.64 118.10 Td (licenses ) Tj ET Q q 0 0 0 rg BT 491.21 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 508.56 118.10 Td (approvals ) Tj ET Q q 0 0 0 rg BT 550.35 118.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.81 106.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 112.44 106.10 Td (Regulatory ) Tj ET Q q 0 0 0 rg BT 159.35 106.10 Td (authorities ) Tj ET Q q 0 0 0 rg BT 204.04 106.10 Td (may ) Tj ET Q q 0 0 0 rg BT 223.73 106.10 Td (deny ) Tj ET Q q 0 0 0 rg BT 245.65 106.10 Td (or ) Tj ET Q q 0 0 0 rg BT 256.46 106.10 Td (revoke ) Tj ET Q q 0 0 0 rg BT 286.14 106.10 Td (licenses ) Tj ET Q q 0 0 0 rg BT 320.27 106.10 Td (for ) Tj ET Q q 0 0 0 rg BT 334.41 106.10 Td (various ) Tj ET Q q 0 0 0 rg BT 366.32 106.10 Td (reasons, ) Tj ET Q q 0 0 0 rg BT 401.29 106.10 Td (including ) Tj ET Q q 0 0 0 rg BT 441.54 106.10 Td (violations ) Tj ET Q q 0 0 0 rg BT 483.46 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 494.27 106.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 517.58 106.10 Td (regulations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.49 94.10 Td (rules. ) Tj ET Q q 0 0 0 rg BT 92.48 94.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 129.97 94.10 Td (in ) Tj ET Q q 0 0 0 rg BT 140.80 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 156.07 94.10 Td (level ) Tj ET Q q 0 0 0 rg BT 178.55 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 189.94 94.10 Td (regulation ) Tj ET Q q 0 0 0 rg BT 233.53 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 244.91 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 260.18 94.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 301.55 94.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 337.38 94.10 Td (or ) Tj ET Q q 0 0 0 rg BT 348.76 94.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 384.02 94.10 Td (in ) Tj ET Q q 0 0 0 rg BT 394.85 94.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 418.73 94.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 466.22 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 483.71 94.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 506.20 94.10 Td (themselves ) Tj ET Q q 0 0 0 rg BT 553.68 94.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (interpretations ) Tj ET Q q 0 0 0 rg BT 110.01 82.10 Td (thereof ) Tj ET Q q 0 0 0 rg BT 140.57 82.10 Td (by ) Tj ET Q q 0 0 0 rg BT 152.82 82.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 196.16 82.10 Td (authorities ) Tj ET Q q 0 0 0 rg BT 240.62 82.10 Td (could ) Tj ET Q q 0 0 0 rg BT 265.08 82.10 Td (have ) Tj ET Q q 0 0 0 rg BT 286.21 82.10 Td (a ) Tj ET Q q 0 0 0 rg BT 292.89 82.10 Td (material ) Tj ET Q q 0 0 0 rg BT 327.90 82.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 360.68 82.10 Td (ef) Tj ET Q q 0 0 0 rg BT 368.27 82.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 385.50 82.10 Td (on ) Tj ET Q q 0 0 0 rg BT 397.75 82.10 Td (our ) Tj ET Q q 0 0 0 rg BT 413.33 82.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 459.73 82.10 Td (Because ) Tj ET Q q 0 0 0 rg BT 495.30 82.10 Td (we ) Tj ET Q q 0 0 0 rg BT 509.20 82.10 Td (are ) Tj ET Q q 0 0 0 rg BT 523.66 82.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 554.23 82.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 92.38 70.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 117.27 70.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 165.77 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 184.27 70.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 207.77 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 220.16 70.10 Td (many ) Tj ET Q q 0 0 0 rg BT 246.44 70.10 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 299.95 70.10 Td (that ) Tj ET Q q 0 0 0 rg BT 319.01 70.10 Td (are ) Tj ET Q q 0 0 0 rg BT 335.28 70.10 Td (administered ) Tj ET Q q 0 0 0 rg BT 390.99 70.10 Td (by ) Tj ET Q q 0 0 0 rg BT 405.05 70.10 Td (dif) Tj ET Q q 0 0 0 rg BT 415.98 70.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 443.36 70.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 488.52 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 507.02 70.10 Td (governmental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (authorities, ) Tj ET Q q 0 0 0 rg BT 96.76 58.10 Td (there ) Tj ET Q q 0 0 0 rg BT 118.80 58.10 Td (is ) Tj ET Q q 0 0 0 rg BT 127.52 58.10 Td (also ) Tj ET Q q 0 0 0 rg BT 145.68 58.10 Td (a ) Tj ET Q q 0 0 0 rg BT 152.18 58.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 169.23 58.10 Td (that ) Tj ET Q q 0 0 0 rg BT 186.27 58.10 Td (one ) Tj ET Q q 0 0 0 rg BT 202.77 58.10 Td (authority's ) Tj ET Q q 0 0 0 rg BT 246.61 58.10 Td (interpretation ) Tj ET Q q 0 0 0 rg BT 302.53 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 312.92 58.10 Td (a ) Tj ET Q q 0 0 0 rg BT 319.41 58.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 340.89 58.10 Td (or ) Tj ET Q q 0 0 0 rg BT 351.28 58.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 394.42 58.10 Td (issue ) Tj ET Q q 0 0 0 rg BT 416.47 58.10 Td (may ) Tj ET Q q 0 0 0 rg BT 435.74 58.10 Td (conflict ) Tj ET Q q 0 0 0 rg BT 468.34 58.10 Td (with ) Tj ET Q q 0 0 0 rg BT 488.17 58.10 Td (another ) Tj ET Q q 0 0 0 rg BT 520.21 58.10 Td (authority's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (interpretation ) Tj ET Q q 0 0 0 rg BT 106.21 46.10 Td (of ) Tj ET Q q 0 0 0 rg BT 116.88 46.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.45 46.10 Td (same ) Tj ET Q q 0 0 0 rg BT 154.34 46.10 Td (issue. ) Tj ET Q q 0 0 0 rg BT 179.18 46.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 220.39 46.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 265.50 46.10 Td (are ) Tj ET Q q 0 0 0 rg BT 280.05 46.10 Td (also ) Tj ET Q q 0 0 0 rg BT 298.50 46.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 329.17 46.10 Td (to ) Tj ET Q q 0 0 0 rg BT 339.29 46.10 Td (desk ) Tj ET Q q 0 0 0 rg BT 364.40 46.10 Td (drawer ) Tj ET Q q 0 0 0 rg BT 394.51 46.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 420.73 46.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.40 46.10 Td (state ) Tj ET Q q 0 0 0 rg BT 452.07 46.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 492.73 46.10 Td (regulators, ) Tj ET Q q 0 0 0 rg BT 537.56 46.10 Td (which ) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.95 742.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 108.79 742.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 130.98 742.10 Td (that ) Tj ET Q q 0 0 0 rg BT 148.72 742.10 Td (have ) Tj ET Q q 0 0 0 rg BT 170.34 742.10 Td (not ) Tj ET Q q 0 0 0 rg BT 185.86 742.10 Td (been ) Tj ET Q q 0 0 0 rg BT 207.49 742.10 Td (codified ) Tj ET Q q 0 0 0 rg BT 243.00 742.10 Td (or ) Tj ET Q q 0 0 0 rg BT 254.07 742.10 Td (formally ) Tj ET Q q 0 0 0 rg BT 291.25 742.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 325.65 742.10 Td (through ) Tj ET Q q 0 0 0 rg BT 359.50 742.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 403.34 742.10 Td (proceedings. ) Tj ET Q q 0 0 0 rg BT 456.91 742.10 Td (In ) Tj ET Q q 0 0 0 rg BT 467.98 742.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 506.00 742.10 Td (we ) Tj ET Q q 0 0 0 rg BT 520.41 742.10 Td (could ) Tj ET Q q 0 0 0 rg BT 545.37 742.10 Td (face ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (individual, ) Tj ET Q q 0 0 0 rg BT 95.14 730.10 Td (group ) Tj ET Q q 0 0 0 rg BT 120.55 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 137.08 730.10 Td (class-action ) Tj ET Q q 0 0 0 rg BT 186.37 730.10 Td (lawsuits ) Tj ET Q q 0 0 0 rg BT 221.23 730.10 Td (by ) Tj ET Q q 0 0 0 rg BT 233.32 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 248.74 730.10 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 305.26 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 321.78 730.10 Td (others ) Tj ET Q q 0 0 0 rg BT 348.31 730.10 Td (for ) Tj ET Q q 0 0 0 rg BT 362.05 730.10 Td (alleged ) Tj ET Q q 0 0 0 rg BT 393.01 730.10 Td (violations ) Tj ET Q q 0 0 0 rg BT 434.54 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 444.96 730.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 474.25 730.10 Td (state ) Tj ET Q q 0 0 0 rg BT 494.66 730.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 517.57 730.10 Td (regulations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 718.10 Td (rules. ) Tj ET Q q 0 0 0 rg BT 91.38 718.10 Td (Each ) Tj ET Q q 0 0 0 rg BT 113.86 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 124.69 718.10 Td (these ) Tj ET Q q 0 0 0 rg BT 147.74 718.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 191.33 718.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 212.72 718.10 Td (could ) Tj ET Q q 0 0 0 rg BT 237.44 718.10 Td (have ) Tj ET Q q 0 0 0 rg BT 258.82 718.10 Td (an ) Tj ET Q q 0 0 0 rg BT 270.76 718.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 303.79 718.10 Td (ef) Tj ET Q q 0 0 0 rg BT 311.38 718.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 328.87 718.10 Td (on ) Tj ET Q q 0 0 0 rg BT 341.37 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 357.20 718.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 404.32 718.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (As ) Tj ET Q q 0 0 0 rg BT 64.04 694.10 Td (a ) Tj ET Q q 0 0 0 rg BT 71.41 694.10 Td (result ) Tj ET Q q 0 0 0 rg BT 96.55 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.81 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 124.07 694.10 Td (administration ) Tj ET Q q 0 0 0 rg BT 184.77 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 196.03 694.10 Td (Gateway's ) Tj ET Q q 0 0 0 rg BT 240.19 694.10 Td (run-of) Tj ET Q q 0 0 0 rg BT 265.00 694.10 Td (f ) Tj ET Q q 0 0 0 rg BT 271.26 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 287.98 694.10 Td (American ) Tj ET Q q 0 0 0 rg BT 330.33 694.10 Td (Country's ) Tj ET Q q 0 0 0 rg BT 371.73 694.10 Td (transportation ) Tj ET Q q 0 0 0 rg BT 430.20 694.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 467.14 694.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 525.61 694.10 Td (business, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (we ) Tj ET Q q 0 0 0 rg BT 65.21 682.10 Td (are ) Tj ET Q q 0 0 0 rg BT 80.96 682.10 Td (required ) Tj ET Q q 0 0 0 rg BT 117.82 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 129.15 682.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 162.69 682.10 Td (with ) Tj ET Q q 0 0 0 rg BT 184.01 682.10 Td (state ) Tj ET Q q 0 0 0 rg BT 205.88 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 223.87 682.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 255.17 682.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 277.05 682.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 321.14 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 336.90 682.10 Td (collection, ) Tj ET Q q 0 0 0 rg BT 382.38 682.10 Td (transmission, ) Tj ET Q q 0 0 0 rg BT 438.98 682.10 Td (security ) Tj ET Q q 0 0 0 rg BT 474.18 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 492.17 682.10 Td (privacy ) Tj ET Q q 0 0 0 rg BT 525.70 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 537.58 682.10 Td (health ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (information ) Tj ET Q q 0 0 0 rg BT 99.60 670.10 Td (that ) Tj ET Q q 0 0 0 rg BT 116.99 670.10 Td (require ) Tj ET Q q 0 0 0 rg BT 147.69 670.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 192.29 670.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 240.77 670.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 265.66 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 282.49 670.10 Td (any ) Tj ET Q q 0 0 0 rg BT 299.31 670.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 327.80 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 337.96 670.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 370.35 670.10 Td (with ) Tj ET Q q 0 0 0 rg BT 390.52 670.10 Td (these ) Tj ET Q q 0 0 0 rg BT 413.45 670.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 434.17 670.10 Td (could ) Tj ET Q q 0 0 0 rg BT 458.78 670.10 Td (result ) Tj ET Q q 0 0 0 rg BT 483.38 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 493.55 670.10 Td (material ) Tj ET Q q 0 0 0 rg BT 528.70 670.10 Td (criminal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.92 658.10 Td (civil ) Tj ET Q q 0 0 0 rg BT 89.17 658.10 Td (penalties. ) Tj ET Q q 0 0 0 rg BT 130.68 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.91 658.10 Td (These ) Tj ET Q q 0 0 0 rg BT 161.26 658.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 183.07 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 200.98 658.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 223.90 658.10 Td (are ) Tj ET Q q 0 0 0 rg BT 239.58 658.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 271.38 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 282.64 658.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 343.32 658.10 Td (interpretation ) Tj ET Q q 0 0 0 rg BT 400.67 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 418.58 658.10 Td (many ) Tj ET Q q 0 0 0 rg BT 444.27 658.10 Td (are ) Tj ET Q q 0 0 0 rg BT 459.96 658.10 Td (derived ) Tj ET Q q 0 0 0 rg BT 493.42 658.10 Td (from ) Tj ET Q q 0 0 0 rg BT 516.34 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 532.03 658.10 Td (privacy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 94.23 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 104.58 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.36 646.10 Td (Federal ) Tj ET Q q 0 0 0 rg BT 151.91 646.10 Td (Gramm-Leach-Bliley ) Tj ET Q q 0 0 0 rg BT 239.98 646.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 256.99 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 267.88 646.10 Td (2002. ) Tj ET Q q 0 0 0 rg BT 292.76 646.10 Td (The ) Tj ET Q q 0 0 0 rg BT 310.87 646.10 Td (Gramm-Leach-Bliley ) Tj ET Q q 0 0 0 rg BT 398.95 646.10 Td (Act, ) Tj ET Q q 0 0 0 rg BT 418.45 646.10 Td (which, ) Tj ET Q q 0 0 0 rg BT 447.95 646.10 Td (among ) Tj ET Q q 0 0 0 rg BT 477.73 646.10 Td (other ) Tj ET Q q 0 0 0 rg BT 500.85 646.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 530.36 646.10 Td (protects ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (consumers ) Tj ET Q q 0 0 0 rg BT 94.67 634.10 Td (from ) Tj ET Q q 0 0 0 rg BT 116.01 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 130.13 634.10 Td (unauthorized ) Tj ET Q q 0 0 0 rg BT 184.23 634.10 Td (dissemination ) Tj ET Q q 0 0 0 rg BT 241.69 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 251.92 634.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 281.02 634.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 316.80 634.10 Td (information, ) Tj ET Q q 0 0 0 rg BT 368.42 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 384.76 634.10 Td (various ) Tj ET Q q 0 0 0 rg BT 416.10 634.10 Td (state ) Tj ET Q q 0 0 0 rg BT 436.32 634.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 456.56 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 472.90 634.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 519.23 634.10 Td (addressing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (privacy ) Tj ET Q q 0 0 0 rg BT 83.13 622.10 Td (issues, ) Tj ET Q q 0 0 0 rg BT 112.66 622.10 Td (require ) Tj ET Q q 0 0 0 rg BT 144.11 622.10 Td (us ) Tj ET Q q 0 0 0 rg BT 156.14 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 167.06 622.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 205.19 622.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 253.86 622.10 Td (procedures ) Tj ET Q q 0 0 0 rg BT 300.87 622.10 Td (for ) Tj ET Q q 0 0 0 rg BT 315.67 622.10 Td (managing ) Tj ET Q q 0 0 0 rg BT 358.24 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 375.82 622.10 Td (protecting ) Tj ET Q q 0 0 0 rg BT 419.50 622.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 449.84 622.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 486.86 622.10 Td (information ) Tj ET Q q 0 0 0 rg BT 537.21 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 548.68 622.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 93.63 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 111.15 610.10 Td (to ) Tj ET Q q 0 0 0 rg BT 122.01 610.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 143.98 610.10 Td (disclose ) Tj ET Q q 0 0 0 rg BT 179.28 610.10 Td (our ) Tj ET Q q 0 0 0 rg BT 195.69 610.10 Td (privacy ) Tj ET Q q 0 0 0 rg BT 228.76 610.10 Td (practices ) Tj ET Q q 0 0 0 rg BT 267.38 610.10 Td (to ) Tj ET Q q 0 0 0 rg BT 278.24 610.10 Td (our ) Tj ET Q q 0 0 0 rg BT 294.65 610.10 Td (customers. ) Tj ET Q q 0 0 0 rg BT 340.78 610.10 Td (Given ) Tj ET Q q 0 0 0 rg BT 368.30 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 383.60 610.10 Td (complexity ) Tj ET Q q 0 0 0 rg BT 431.67 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 443.08 610.10 Td (these ) Tj ET Q q 0 0 0 rg BT 466.71 610.10 Td (privacy ) Tj ET Q q 0 0 0 rg BT 499.78 610.10 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 549.80 610.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (possibility ) Tj ET Q q 0 0 0 rg BT 94.56 598.10 Td (that ) Tj ET Q q 0 0 0 rg BT 112.43 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 127.53 598.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 174.85 598.10 Td (may ) Tj ET Q q 0 0 0 rg BT 194.95 598.10 Td (change, ) Tj ET Q q 0 0 0 rg BT 228.65 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 245.97 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 261.07 598.10 Td (fact ) Tj ET Q q 0 0 0 rg BT 278.93 598.10 Td (that ) Tj ET Q q 0 0 0 rg BT 296.81 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 311.91 598.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 359.23 598.10 Td (are ) Tj ET Q q 0 0 0 rg BT 374.32 598.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 405.52 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 416.18 598.10 Td (changing ) Tj ET Q q 0 0 0 rg BT 455.72 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 473.04 598.10 Td (potentially ) Tj ET Q q 0 0 0 rg BT 518.69 598.10 Td (conflicting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (interpretation, ) Tj ET Q q 0 0 0 rg BT 108.57 586.10 Td (our ) Tj ET Q q 0 0 0 rg BT 124.11 586.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 151.87 586.10 Td (to ) Tj ET Q q 0 0 0 rg BT 161.85 586.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 199.05 586.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 247.34 586.10 Td (with ) Tj ET Q q 0 0 0 rg BT 267.33 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 281.75 586.10 Td (privacy ) Tj ET Q q 0 0 0 rg BT 313.94 586.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 368.35 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 378.89 586.10 Td (state ) Tj ET Q q 0 0 0 rg BT 399.42 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 416.06 586.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 446.02 586.10 Td (law ) Tj ET Q q 0 0 0 rg BT 462.67 586.10 Td (is ) Tj ET Q q 0 0 0 rg BT 471.54 586.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 510.95 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 527.59 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 542.02 586.10 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 574.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 109.42 574.10 Td (are ) Tj ET Q q 0 0 0 rg BT 124.13 574.10 Td (significant. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.67 550.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 98.29 550.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 136.17 550.10 Td (has ) Tj ET Q q 0 0 0 rg BT 151.84 550.10 Td (exited ) Tj ET Q q 0 0 0 rg BT 178.62 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 193.18 550.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 229.53 550.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 287.42 550.10 Td (line ) Tj ET Q q 0 0 0 rg BT 304.76 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 315.43 550.10 Td (business ) Tj ET Q q 0 0 0 rg BT 351.66 550.10 Td (across ) Tj ET Q q 0 0 0 rg BT 379.00 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 393.56 550.10 Td (country ) Tj ET Q q 0 0 0 rg BT 426.45 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 443.23 550.10 Td (also ) Tj ET Q q 0 0 0 rg BT 461.68 550.10 Td (exited ) Tj ET Q q 0 0 0 rg BT 488.46 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 503.01 550.10 Td (Florida ) Tj ET Q q 0 0 0 rg BT 534.24 550.10 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.71 538.10 Td (all ) Tj ET Q q 0 0 0 rg BT 77.76 538.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 99.69 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 111.08 538.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 150.52 538.10 Td ( ) Tj ET Q q 0 0 0 rg BT 153.57 538.10 Td (Most ) Tj ET Q q 0 0 0 rg BT 177.18 538.10 Td (states ) Tj ET Q q 0 0 0 rg BT 202.45 538.10 Td (have ) Tj ET Q q 0 0 0 rg BT 224.38 538.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 259.08 538.10 Td (either ) Tj ET Q q 0 0 0 rg BT 284.90 538.10 Td (statutes ) Tj ET Q q 0 0 0 rg BT 317.94 538.10 Td (or ) Tj ET Q q 0 0 0 rg BT 329.32 538.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 376.81 538.10 Td (or ) Tj ET Q q 0 0 0 rg BT 388.19 538.10 Td (have ) Tj ET Q q 0 0 0 rg BT 410.12 538.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 438.17 538.10 Td (bulletins ) Tj ET Q q 0 0 0 rg BT 475.66 538.10 Td (or ) Tj ET Q q 0 0 0 rg BT 487.04 538.10 Td (informal ) Tj ET Q q 0 0 0 rg BT 524.53 538.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 547.02 538.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (regulate ) Tj ET Q q 0 0 0 rg BT 85.09 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 100.19 526.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 146.94 526.10 Td (withdrawal ) Tj ET Q q 0 0 0 rg BT 194.80 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 206.02 526.10 Td (a ) Tj ET Q q 0 0 0 rg BT 213.34 526.10 Td (product, ) Tj ET Q q 0 0 0 rg BT 249.27 526.10 Td (line ) Tj ET Q q 0 0 0 rg BT 267.15 526.10 Td (or ) Tj ET Q q 0 0 0 rg BT 278.36 526.10 Td (sub-line ) Tj ET Q q 0 0 0 rg BT 313.46 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 324.68 526.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 365.87 526.10 Td (business ) Tj ET Q q 0 0 0 rg BT 402.65 526.10 Td (from ) Tj ET Q q 0 0 0 rg BT 424.97 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 440.07 526.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 481.27 526.10 Td (marketplace ) Tj ET Q q 0 0 0 rg BT 533.01 526.10 Td (in ) Tj ET Q q 0 0 0 rg BT 543.67 526.10 Td (their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (state. ) Tj ET Q q 0 0 0 rg BT 73.31 514.10 Td (While ) Tj ET Q q 0 0 0 rg BT 100.43 514.10 Td (what ) Tj ET Q q 0 0 0 rg BT 122.55 514.10 Td (constitutes ) Tj ET Q q 0 0 0 rg BT 168.00 514.10 Td (a ) Tj ET Q q 0 0 0 rg BT 175.12 514.10 Td (withdrawal ) Tj ET Q q 0 0 0 rg BT 231.66 514.10 Td (or ) Tj ET Q q 0 0 0 rg BT 242.67 514.10 Td (its ) Tj ET Q q 0 0 0 rg BT 254.80 514.10 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 299.13 514.10 Td (under ) Tj ET Q q 0 0 0 rg BT 324.58 514.10 Td (each ) Tj ET Q q 0 0 0 rg BT 345.58 514.10 Td (state's ) Tj ET Q q 0 0 0 rg BT 372.28 514.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 409.95 514.10 Td (or ) Tj ET Q q 0 0 0 rg BT 420.96 514.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 464.74 514.10 Td (scheme ) Tj ET Q q 0 0 0 rg BT 497.40 514.10 Td (varies, ) Tj ET Q q 0 0 0 rg BT 526.46 514.10 Td (Gateway ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (will ) Tj ET Q q 0 0 0 rg BT 68.16 502.10 Td (be ) Tj ET Q q 0 0 0 rg BT 80.20 502.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 111.13 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 121.50 502.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 165.20 502.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 220.00 502.10 Td (in ) Tj ET Q q 0 0 0 rg BT 230.38 502.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 276.86 502.10 Td (with ) Tj ET Q q 0 0 0 rg BT 297.24 502.10 Td (its ) Tj ET Q q 0 0 0 rg BT 309.29 502.10 Td (withdrawal, ) Tj ET Q q 0 0 0 rg BT 359.37 502.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 402.25 502.10 Td (but ) Tj ET Q q 0 0 0 rg BT 417.63 502.10 Td (not ) Tj ET Q q 0 0 0 rg BT 433.01 502.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 463.94 502.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 476.82 502.10 Td (making ) Tj ET Q q 0 0 0 rg BT 509.42 502.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 536.45 502.10 Td (and/or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 70.21 490.10 Td (filings ) Tj ET Q q 0 0 0 rg BT 98.75 490.10 Td (with ) Tj ET Q q 0 0 0 rg BT 119.52 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 134.73 490.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 178.81 490.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 220.12 490.10 Td (regulator ) Tj ET Q q 0 0 0 rg BT 259.20 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 269.97 490.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 300.16 490.10 Td (states ) Tj ET Q q 0 0 0 rg BT 325.37 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 342.80 490.10 Td (possibly ) Tj ET Q q 0 0 0 rg BT 379.13 490.10 Td (requiring ) Tj ET Q q 0 0 0 rg BT 418.78 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 433.98 490.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 456.41 490.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 494.39 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 505.71 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 520.92 490.10 Td (applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (state ) Tj ET Q q 0 0 0 rg BT 71.35 478.10 Td (regulator) Tj ET Q q 0 0 0 rg BT 106.90 478.10 Td (. ) Tj ET Q q 0 0 0 rg BT 112.42 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 114.79 478.10 Td (A) Tj ET Q q 0 0 0 rg BT 121.46 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.48 478.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 153.61 478.10 Td (by ) Tj ET Q q 0 0 0 rg BT 166.64 478.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 205.20 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 216.01 478.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 249.03 478.10 Td (with ) Tj ET Q q 0 0 0 rg BT 269.84 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 287.31 478.10 Td (satisfy ) Tj ET Q q 0 0 0 rg BT 316.44 478.10 Td (these ) Tj ET Q q 0 0 0 rg BT 340.02 478.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 384.14 478.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 439.37 478.10 Td (in ) Tj ET Q q 0 0 0 rg BT 450.18 478.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 497.08 478.10 Td (with ) Tj ET Q q 0 0 0 rg BT 517.89 478.10 Td (its ) Tj ET Q q 0 0 0 rg BT 530.37 478.10 Td (planned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (withdrawals ) Tj ET Q q 0 0 0 rg BT 101.40 466.10 Td (could ) Tj ET Q q 0 0 0 rg BT 126.14 466.10 Td (lead ) Tj ET Q q 0 0 0 rg BT 145.31 466.10 Td (to ) Tj ET Q q 0 0 0 rg BT 155.61 466.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 199.23 466.10 Td (fines, ) Tj ET Q q 0 0 0 rg BT 223.69 466.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 248.41 466.10 Td (a ) Tj ET Q q 0 0 0 rg BT 255.37 466.10 Td (distraction ) Tj ET Q q 0 0 0 rg BT 300.11 466.10 Td (for ) Tj ET Q q 0 0 0 rg BT 314.29 466.10 Td (management ) Tj ET Q q 0 0 0 rg BT 367.90 466.10 Td (requiring ) Tj ET Q q 0 0 0 rg BT 407.07 466.10 Td (us ) Tj ET Q q 0 0 0 rg BT 418.49 466.10 Td (to ) Tj ET Q q 0 0 0 rg BT 428.79 466.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 465.74 466.10 Td (to ) Tj ET Q q 0 0 0 rg BT 476.04 466.10 Td (administer ) Tj ET Q q 0 0 0 rg BT 520.77 466.10 Td (Gateway's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 85.49 454.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 142.52 454.10 Td (business ) Tj ET Q q 0 0 0 rg BT 177.89 454.10 Td (for ) Tj ET Q q 0 0 0 rg BT 191.03 454.10 Td (longer ) Tj ET Q q 0 0 0 rg BT 218.06 454.10 Td (than ) Tj ET Q q 0 0 0 rg BT 236.76 454.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 282.10 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 298.02 454.10 Td (could ) Tj ET Q q 0 0 0 rg BT 321.72 454.10 Td (result ) Tj ET Q q 0 0 0 rg BT 345.42 454.10 Td (in ) Tj ET Q q 0 0 0 rg BT 354.68 454.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 391.70 454.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 435.95 454.10 Td (to ) Tj ET Q q 0 0 0 rg BT 445.21 454.10 Td (write ) Tj ET Q q 0 0 0 rg BT 467.24 454.10 Td (undesirable ) Tj ET Q q 0 0 0 rg BT 514.81 454.10 Td (commercial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 97.04 442.10 Td (business ) Tj ET Q q 0 0 0 rg BT 132.98 442.10 Td (in ) Tj ET Q q 0 0 0 rg BT 142.81 442.10 Td (Florida, ) Tj ET Q q 0 0 0 rg BT 176.24 442.10 Td (which ) Tj ET Q q 0 0 0 rg BT 202.73 442.10 Td (could ) Tj ET Q q 0 0 0 rg BT 226.99 442.10 Td (have ) Tj ET Q q 0 0 0 rg BT 247.92 442.10 Td (an ) Tj ET Q q 0 0 0 rg BT 259.40 442.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 291.99 442.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 321.25 442.10 Td (on ) Tj ET Q q 0 0 0 rg BT 333.30 442.10 Td (our ) Tj ET Q q 0 0 0 rg BT 348.68 442.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 385.98 442.10 Td (results ) Tj ET Q q 0 0 0 rg BT 414.14 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 424.52 442.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 468.22 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 484.71 442.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 521.74 442.10 Td (condition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (It ) Tj ET Q q 0 0 0 rg BT 59.45 418.10 Td (is ) Tj ET Q q 0 0 0 rg BT 69.47 418.10 Td (not ) Tj ET Q q 0 0 0 rg BT 85.59 418.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 121.71 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 132.83 418.10 Td (predict ) Tj ET Q q 0 0 0 rg BT 163.94 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 179.50 418.10 Td (future ) Tj ET Q q 0 0 0 rg BT 206.72 418.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 237.28 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 248.95 418.10 Td (changing ) Tj ET Q q 0 0 0 rg BT 288.95 418.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 320.05 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 337.83 418.10 Td (state ) Tj ET Q q 0 0 0 rg BT 359.50 418.10 Td (regulation ) Tj ET Q q 0 0 0 rg BT 403.38 418.10 Td (on ) Tj ET Q q 0 0 0 rg BT 416.73 418.10 Td (our ) Tj ET Q q 0 0 0 rg BT 433.40 418.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 480.90 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 498.68 418.10 Td (there ) Tj ET Q q 0 0 0 rg BT 522.01 418.10 Td (can ) Tj ET Q q 0 0 0 rg BT 539.23 418.10 Td (be ) Tj ET Q q 0 0 0 rg BT 552.01 418.10 Td (no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (assurance ) Tj ET Q q 0 0 0 rg BT 92.31 406.10 Td (that ) Tj ET Q q 0 0 0 rg BT 110.75 406.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 132.52 406.10 Td (enacted ) Tj ET Q q 0 0 0 rg BT 166.49 406.10 Td (in ) Tj ET Q q 0 0 0 rg BT 177.71 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 193.37 406.10 Td (future ) Tj ET Q q 0 0 0 rg BT 220.69 406.10 Td (will ) Tj ET Q q 0 0 0 rg BT 239.68 406.10 Td (not ) Tj ET Q q 0 0 0 rg BT 255.90 406.10 Td (be ) Tj ET Q q 0 0 0 rg BT 268.78 406.10 Td (more ) Tj ET Q q 0 0 0 rg BT 292.77 406.10 Td (restrictive ) Tj ET Q q 0 0 0 rg BT 336.19 406.10 Td (than ) Tj ET Q q 0 0 0 rg BT 356.85 406.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 391.96 406.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 416.23 406.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 464.11 406.10 Td (and ) Tj ET Q q 0 0 0 rg BT 481.99 406.10 Td (rules. ) Tj ET Q q 0 0 0 rg BT 507.37 406.10 Td (New ) Tj ET Q q 0 0 0 rg BT 529.69 406.10 Td (or ) Tj ET Q q 0 0 0 rg BT 541.46 406.10 Td (more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (restrictive ) Tj ET Q q 0 0 0 rg BT 93.18 394.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 117.21 394.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 164.84 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 182.48 394.10 Td (rules, ) Tj ET Q q 0 0 0 rg BT 207.62 394.10 Td (including ) Tj ET Q q 0 0 0 rg BT 248.59 394.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 284.00 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 294.98 394.10 Td (current ) Tj ET Q q 0 0 0 rg BT 326.49 394.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 341.91 394.10 Td (or ) Tj ET Q q 0 0 0 rg BT 353.44 394.10 Td (other ) Tj ET Q q 0 0 0 rg BT 377.19 394.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 421.48 394.10 Td (interpretations ) Tj ET Q q 0 0 0 rg BT 482.44 394.10 Td (could ) Tj ET Q q 0 0 0 rg BT 507.85 394.10 Td (make ) Tj ET Q q 0 0 0 rg BT 532.71 394.10 Td (it ) Tj ET Q q 0 0 0 rg BT 541.47 394.10 Td (more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (expensive ) Tj ET Q q 0 0 0 rg BT 91.48 382.10 Td (for ) Tj ET Q q 0 0 0 rg BT 104.63 382.10 Td (us ) Tj ET Q q 0 0 0 rg BT 115.02 382.10 Td (to ) Tj ET Q q 0 0 0 rg BT 124.29 382.10 Td (conduct ) Tj ET Q q 0 0 0 rg BT 157.44 382.10 Td (our ) Tj ET Q q 0 0 0 rg BT 172.26 382.10 Td (businesses, ) Tj ET Q q 0 0 0 rg BT 218.47 382.10 Td (restrict ) Tj ET Q q 0 0 0 rg BT 247.73 382.10 Td (or ) Tj ET Q q 0 0 0 rg BT 257.55 382.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 285.69 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 299.40 382.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 340.89 382.10 Td (our ) Tj ET Q q 0 0 0 rg BT 355.71 382.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 395.52 382.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 444.23 382.10 Td (are ) Tj ET Q q 0 0 0 rg BT 457.93 382.10 Td (able ) Tj ET Q q 0 0 0 rg BT 476.08 382.10 Td (to ) Tj ET Q q 0 0 0 rg BT 485.35 382.10 Td (char) Tj ET Q q 0 0 0 rg BT 502.38 382.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 513.31 382.10 Td (or ) Tj ET Q q 0 0 0 rg BT 523.13 382.10 Td (otherwise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (change ) Tj ET Q q 0 0 0 rg BT 80.77 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 95.43 370.10 Td (way ) Tj ET Q q 0 0 0 rg BT 114.54 370.10 Td (we ) Tj ET Q q 0 0 0 rg BT 128.65 370.10 Td (do ) Tj ET Q q 0 0 0 rg BT 141.10 370.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 179.95 370.10 Td (In ) Tj ET Q q 0 0 0 rg BT 190.73 370.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 228.45 370.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 269.77 370.10 Td (and ) Tj ET Q q 0 0 0 rg BT 286.66 370.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 324.09 370.10 Td (market ) Tj ET Q q 0 0 0 rg BT 354.30 370.10 Td (turmoil ) Tj ET Q q 0 0 0 rg BT 386.20 370.10 Td (or ) Tj ET Q q 0 0 0 rg BT 396.98 370.10 Td (other ) Tj ET Q q 0 0 0 rg BT 419.98 370.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 466.59 370.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 525.68 370.10 Td (or ) Tj ET Q q 0 0 0 rg BT 536.46 370.10 Td (events ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (may ) Tj ET Q q 0 0 0 rg BT 69.72 358.10 Td (result ) Tj ET Q q 0 0 0 rg BT 94.43 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 104.71 358.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 125.00 358.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 155.25 358.10 Td (oversight ) Tj ET Q q 0 0 0 rg BT 194.97 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.80 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 220.51 358.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 261.33 358.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 296.61 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 306.88 358.10 Td (general.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 69.17 334.10 Td (business ) Tj ET Q q 0 0 0 rg BT 106.69 334.10 Td (is ) Tj ET Q q 0 0 0 rg BT 115.86 334.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 147.25 334.10 Td (to ) Tj ET Q q 0 0 0 rg BT 157.52 334.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 179.48 334.10 Td (related ) Tj ET Q q 0 0 0 rg BT 210.30 334.10 Td (to ) Tj ET Q q 0 0 0 rg BT 220.58 334.10 Td (litigation ) Tj ET Q q 0 0 0 rg BT 260.31 334.10 Td (and ) Tj ET Q q 0 0 0 rg BT 278.37 334.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 323.65 334.10 Td (actions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 310.10 Td (e ) Tj ET Q q 0 0 0 rg BT 64.67 310.10 Td (may) Tj ET Q q 0 0 0 rg BT 81.24 310.10 Td (, ) Tj ET Q q 0 0 0 rg BT 85.33 310.10 Td (from ) Tj ET Q q 0 0 0 rg BT 106.36 310.10 Td (time ) Tj ET Q q 0 0 0 rg BT 125.73 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 135.10 310.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 156.97 310.10 Td (be ) Tj ET Q q 0 0 0 rg BT 168.01 310.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 197.92 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 207.30 310.10 Td (a ) Tj ET Q q 0 0 0 rg BT 213.33 310.10 Td (variety ) Tj ET Q q 0 0 0 rg BT 242.69 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 252.61 310.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 273.64 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 289.67 310.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 332.36 310.10 Td (actions ) Tj ET Q q 0 0 0 rg BT 362.28 310.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 394.42 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 403.79 310.10 Td (our ) Tj ET Q q 0 0 0 rg BT 418.71 310.10 Td (current ) Tj ET Q q 0 0 0 rg BT 448.62 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 464.66 310.10 Td (past ) Tj ET Q q 0 0 0 rg BT 482.36 310.10 Td (business ) Tj ET Q q 0 0 0 rg BT 517.84 310.10 Td (operations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 92.77 298.10 Td (but ) Tj ET Q q 0 0 0 rg BT 108.05 298.10 Td (not ) Tj ET Q q 0 0 0 rg BT 123.33 298.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 154.16 298.10 Td (to:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 274.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 274.10 Td (disputes ) Tj ET Q q 0 0 0 rg BT 157.43 274.10 Td (over ) Tj ET Q q 0 0 0 rg BT 177.84 274.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 216.57 274.10 Td (or ) Tj ET Q q 0 0 0 rg BT 227.55 274.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 256.30 274.10 Td (adjudication, ) Tj ET Q q 0 0 0 rg BT 310.88 274.10 Td (including ) Tj ET Q q 0 0 0 rg BT 351.30 274.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 380.05 274.10 Td (alleging ) Tj ET Q q 0 0 0 rg BT 414.91 274.10 Td (that ) Tj ET Q q 0 0 0 rg BT 432.56 274.10 Td (we ) Tj ET Q q 0 0 0 rg BT 446.86 274.10 Td (or ) Tj ET Q q 0 0 0 rg BT 457.84 274.10 Td (our ) Tj ET Q q 0 0 0 rg BT 473.82 274.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 514.78 274.10 Td (subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 262.10 Td (have ) Tj ET Q q 0 0 0 rg BT 143.38 262.10 Td (acted ) Tj ET Q q 0 0 0 rg BT 166.97 262.10 Td (in ) Tj ET Q q 0 0 0 rg BT 177.25 262.10 Td (bad ) Tj ET Q q 0 0 0 rg BT 194.19 262.10 Td (faith ) Tj ET Q q 0 0 0 rg BT 215.01 262.10 Td (in ) Tj ET Q q 0 0 0 rg BT 225.29 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 240.01 262.10 Td (administration ) Tj ET Q q 0 0 0 rg BT 300.28 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 311.11 262.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 339.71 262.10 Td (by ) Tj ET Q q 0 0 0 rg BT 352.21 262.10 Td (our ) Tj ET Q q 0 0 0 rg BT 368.04 262.10 Td (policyholders;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 250.10 Td (disputes ) Tj ET Q q 0 0 0 rg BT 158.15 250.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 199.83 250.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 222.64 250.10 Td (practices, ) Tj ET Q q 0 0 0 rg BT 264.05 250.10 Td (disclosure, ) Tj ET Q q 0 0 0 rg BT 310.46 250.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 338.83 250.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 376.08 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 393.89 250.10 Td (cancellation, ) Tj ET Q q 0 0 0 rg BT 448.06 250.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 487.54 250.10 Td (refunds, ) Tj ET Q q 0 0 0 rg BT 523.40 250.10 Td (licensing, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 238.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 165.59 238.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 214.18 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 231.12 238.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 289.16 238.10 Td (arrangements;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 226.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 226.10 Td (limitations ) Tj ET Q q 0 0 0 rg BT 167.28 226.10 Td (on ) Tj ET Q q 0 0 0 rg BT 179.78 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.50 226.10 Td (conduct ) Tj ET Q q 0 0 0 rg BT 228.65 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 239.48 226.10 Td (our ) Tj ET Q q 0 0 0 rg BT 255.31 226.10 Td (business;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 214.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 214.10 Td (disputes ) Tj ET Q q 0 0 0 rg BT 156.92 214.10 Td (with ) Tj ET Q q 0 0 0 rg BT 176.83 214.10 Td (our ) Tj ET Q q 0 0 0 rg BT 192.30 214.10 Td (agents, ) Tj ET Q q 0 0 0 rg BT 222.48 214.10 Td (producers ) Tj ET Q q 0 0 0 rg BT 264.05 214.10 Td (or ) Tj ET Q q 0 0 0 rg BT 274.52 214.10 Td (network ) Tj ET Q q 0 0 0 rg BT 309.42 214.10 Td (providers ) Tj ET Q q 0 0 0 rg BT 349.33 214.10 Td (over ) Tj ET Q q 0 0 0 rg BT 369.24 214.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 426.92 214.10 Td (or ) Tj ET Q q 0 0 0 rg BT 437.38 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 451.74 214.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 499.98 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 510.44 214.10 Td (our ) Tj ET Q q 0 0 0 rg BT 525.91 214.10 Td (contracts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 202.10 Td (with ) Tj ET Q q 0 0 0 rg BT 142.49 202.10 Td (such ) Tj ET Q q 0 0 0 rg BT 163.54 202.10 Td (agents, ) Tj ET Q q 0 0 0 rg BT 194.30 202.10 Td (producers ) Tj ET Q q 0 0 0 rg BT 236.45 202.10 Td (or ) Tj ET Q q 0 0 0 rg BT 247.50 202.10 Td (network ) Tj ET Q q 0 0 0 rg BT 282.98 202.10 Td (providers, ) Tj ET Q q 0 0 0 rg BT 325.97 202.10 Td (including ) Tj ET Q q 0 0 0 rg BT 366.46 202.10 Td (any ) Tj ET Q q 0 0 0 rg BT 383.61 202.10 Td (alleged ) Tj ET Q q 0 0 0 rg BT 415.20 202.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 440.13 202.10 Td (that ) Tj ET Q q 0 0 0 rg BT 457.84 202.10 Td (they ) Tj ET Q q 0 0 0 rg BT 477.77 202.10 Td (may ) Tj ET Q q 0 0 0 rg BT 497.70 202.10 Td (make ) Tj ET Q q 0 0 0 rg BT 522.08 202.10 Td (against ) Tj ET Q q 0 0 0 rg BT 553.12 202.10 Td (us ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 190.10 Td (in ) Tj ET Q q 0 0 0 rg BT 132.28 190.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 178.65 190.10 Td (with ) Tj ET Q q 0 0 0 rg BT 198.93 190.10 Td (a ) Tj ET Q q 0 0 0 rg BT 205.87 190.10 Td (dispute ) Tj ET Q q 0 0 0 rg BT 237.25 190.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 271.96 190.10 Td (in ) Tj ET Q q 0 0 0 rg BT 282.24 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 296.96 190.10 Td (scope ) Tj ET Q q 0 0 0 rg BT 322.22 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 333.05 190.10 Td (their ) Tj ET Q q 0 0 0 rg BT 353.88 190.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 401.91 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 412.74 190.10 Td (otherwise;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 178.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 178.10 Td (disputes ) Tj ET Q q 0 0 0 rg BT 157.28 178.10 Td (with ) Tj ET Q q 0 0 0 rg BT 177.56 178.10 Td (taxing ) Tj ET Q q 0 0 0 rg BT 205.05 178.10 Td (authorities ) Tj ET Q q 0 0 0 rg BT 249.76 178.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 290.58 178.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 305.30 178.10 Td (liabilities; ) Tj ET Q q 0 0 0 rg BT 347.79 178.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 166.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 166.10 Td (disputes ) Tj ET Q q 0 0 0 rg BT 157.28 166.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 190.32 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 200.60 166.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 230.30 166.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 275.02 166.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 311.95 166.10 Td (or ) Tj ET Q q 0 0 0 rg BT 322.78 166.10 Td (disposed ) Tj ET Q q 0 0 0 rg BT 360.28 166.10 Td (of ) Tj ET Q q 0 0 0 rg BT 371.11 166.10 Td (by ) Tj ET Q q 0 0 0 rg BT 383.61 166.10 Td (us.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.23 142.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 103.66 142.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 138.55 142.10 Td (practices ) Tj ET Q q 0 0 0 rg BT 176.19 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 192.74 142.10 Td (regulatory) Tj ET Q q 0 0 0 rg BT 233.19 142.10 Td (, ) Tj ET Q q 0 0 0 rg BT 237.80 142.10 Td (judicial ) Tj ET Q q 0 0 0 rg BT 269.91 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 286.46 142.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 321.35 142.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 365.13 142.10 Td (change, ) Tj ET Q q 0 0 0 rg BT 398.06 142.10 Td (unexpected ) Tj ET Q q 0 0 0 rg BT 445.70 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 462.25 142.10 Td (unintended ) Tj ET Q q 0 0 0 rg BT 508.80 142.10 Td (issues ) Tj ET Q q 0 0 0 rg BT 534.80 142.10 Td (related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.96 130.10 Td (pricing, ) Tj ET Q q 0 0 0 rg BT 94.97 130.10 Td (claims, ) Tj ET Q q 0 0 0 rg BT 126.75 130.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 166.02 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 183.64 130.10 Td (business ) Tj ET Q q 0 0 0 rg BT 220.71 130.10 Td (practices ) Tj ET Q q 0 0 0 rg BT 259.42 130.10 Td (may ) Tj ET Q q 0 0 0 rg BT 279.82 130.10 Td (emer) Tj ET Q q 0 0 0 rg BT 299.62 130.10 Td (ge. ) Tj ET Q q 0 0 0 rg BT 314.74 130.10 Td (Plaintif) Tj ET Q q 0 0 0 rg BT 344.01 130.10 Td (fs ) Tj ET Q q 0 0 0 rg BT 354.41 130.10 Td (often ) Tj ET Q q 0 0 0 rg BT 378.14 130.10 Td (tar) Tj ET Q q 0 0 0 rg BT 388.50 130.10 Td (get ) Tj ET Q q 0 0 0 rg BT 403.90 130.10 Td (P&C ) Tj ET Q q 0 0 0 rg BT 427.09 130.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 461.93 130.10 Td (in ) Tj ET Q q 0 0 0 rg BT 472.89 130.10 Td (purported ) Tj ET Q q 0 0 0 rg BT 514.95 130.10 Td (class ) Tj ET Q q 0 0 0 rg BT 537.57 130.10 Td (action ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (litigation ) Tj ET Q q 0 0 0 rg BT 88.72 118.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 121.87 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 132.26 118.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 160.98 118.10 Td (handling ) Tj ET Q q 0 0 0 rg BT 198.58 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 215.63 118.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 256.56 118.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 278.61 118.10 Td (practices. ) Tj ET Q q 0 0 0 rg BT 319.06 118.10 Td (The ) Tj ET Q q 0 0 0 rg BT 337.22 118.10 Td (resolution ) Tj ET Q q 0 0 0 rg BT 379.83 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 396.88 118.10 Td (implications ) Tj ET Q q 0 0 0 rg BT 448.93 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 459.87 118.10 Td (new ) Tj ET Q q 0 0 0 rg BT 479.14 118.10 Td (underwriting, ) Tj ET Q q 0 0 0 rg BT 535.91 118.10 Td (claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.22 106.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 104.09 106.10 Td (issues ) Tj ET Q q 0 0 0 rg BT 129.76 106.10 Td (could ) Tj ET Q q 0 0 0 rg BT 153.76 106.10 Td (have ) Tj ET Q q 0 0 0 rg BT 174.42 106.10 Td (a ) Tj ET Q q 0 0 0 rg BT 180.64 106.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 216.29 106.10 Td (ef) Tj ET Q q 0 0 0 rg BT 223.88 106.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 240.65 106.10 Td (on ) Tj ET Q q 0 0 0 rg BT 252.43 106.10 Td (our ) Tj ET Q q 0 0 0 rg BT 267.54 106.10 Td (business ) Tj ET Q q 0 0 0 rg BT 303.22 106.10 Td (by ) Tj ET Q q 0 0 0 rg BT 315.00 106.10 Td (extending ) Tj ET Q q 0 0 0 rg BT 356.22 106.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 394.08 106.10 Td (beyond ) Tj ET Q q 0 0 0 rg BT 425.30 106.10 Td (our ) Tj ET Q q 0 0 0 rg BT 440.42 106.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 493.85 106.10 Td (intent, ) Tj ET Q q 0 0 0 rg BT 520.91 106.10 Td (increasing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.28 94.10 Td (size ) Tj ET Q q 0 0 0 rg BT 81.90 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 92.29 94.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 120.46 94.10 Td (or ) Tj ET Q q 0 0 0 rg BT 130.86 94.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 171.81 94.10 Td (requiring ) Tj ET Q q 0 0 0 rg BT 210.53 94.10 Td (us ) Tj ET Q q 0 0 0 rg BT 221.49 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 231.33 94.10 Td (change ) Tj ET Q q 0 0 0 rg BT 261.71 94.10 Td (our ) Tj ET Q q 0 0 0 rg BT 277.11 94.10 Td (practices. ) Tj ET Q q 0 0 0 rg BT 317.06 94.10 Td (The ) Tj ET Q q 0 0 0 rg BT 334.67 94.10 Td (ef) Tj ET Q q 0 0 0 rg BT 342.26 94.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 363.21 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 373.60 94.10 Td (unforeseen ) Tj ET Q q 0 0 0 rg BT 419.54 94.10 Td (emer) Tj ET Q q 0 0 0 rg BT 439.34 94.10 Td (ging ) Tj ET Q q 0 0 0 rg BT 459.19 94.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 483.47 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 499.97 94.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 538.12 94.10 Td (issues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (could ) Tj ET Q q 0 0 0 rg BT 74.40 82.10 Td (negatively ) Tj ET Q q 0 0 0 rg BT 118.24 82.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 147.64 82.10 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 187.86 82.10 Td (results ) Tj ET Q q 0 0 0 rg BT 216.16 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 226.67 82.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 270.52 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 287.14 82.10 Td (reputation. ) Tj ET Q q 0 0 0 rg BT 332.37 82.10 Td ( ) Tj ET Q q 0 0 0 rg BT 334.56 82.10 Td (Current ) Tj ET Q q 0 0 0 rg BT 367.29 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 383.91 82.10 Td (future ) Tj ET Q q 0 0 0 rg BT 409.98 82.10 Td (court ) Tj ET Q q 0 0 0 rg BT 432.71 82.10 Td (decisions ) Tj ET Q q 0 0 0 rg BT 472.11 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 488.74 82.10 Td (legislative ) Tj ET Q q 0 0 0 rg BT 532.02 82.10 Td (activity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (may ) Tj ET Q q 0 0 0 rg BT 69.89 70.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 105.32 70.10 Td (our ) Tj ET Q q 0 0 0 rg BT 121.32 70.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 160.09 70.10 Td (to ) Tj ET Q q 0 0 0 rg BT 170.54 70.10 Td (these ) Tj ET Q q 0 0 0 rg BT 193.76 70.10 Td (or ) Tj ET Q q 0 0 0 rg BT 204.76 70.10 Td (other ) Tj ET Q q 0 0 0 rg BT 227.98 70.10 Td (types ) Tj ET Q q 0 0 0 rg BT 251.76 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 262.76 70.10 Td (claims. ) Tj ET Q q 0 0 0 rg BT 294.04 70.10 Td (Multi-party ) Tj ET Q q 0 0 0 rg BT 342.82 70.10 Td (or ) Tj ET Q q 0 0 0 rg BT 353.82 70.10 Td (class ) Tj ET Q q 0 0 0 rg BT 375.93 70.10 Td (action ) Tj ET Q q 0 0 0 rg BT 403.03 70.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 431.81 70.10 Td (may ) Tj ET Q q 0 0 0 rg BT 451.70 70.10 Td (present ) Tj ET Q q 0 0 0 rg BT 483.25 70.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 525.91 70.10 Td (exposure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.64 58.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 104.27 58.10 Td (economic, ) Tj ET Q q 0 0 0 rg BT 147.49 58.10 Td (non-economic ) Tj ET Q q 0 0 0 rg BT 206.55 58.10 Td (or ) Tj ET Q q 0 0 0 rg BT 216.74 58.10 Td (punitive ) Tj ET Q q 0 0 0 rg BT 251.37 58.10 Td (damage ) Tj ET Q q 0 0 0 rg BT 284.32 58.10 Td (awards. ) Tj ET Q q 0 0 0 rg BT 316.59 58.10 Td (An ) Tj ET Q q 0 0 0 rg BT 330.67 58.10 Td (unfavorable ) Tj ET Q q 0 0 0 rg BT 380.28 58.10 Td (result ) Tj ET Q q 0 0 0 rg BT 404.35 58.10 Td (with ) Tj ET Q q 0 0 0 rg BT 423.99 58.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 454.16 58.10 Td (to ) Tj ET Q q 0 0 0 rg BT 463.79 58.10 Td (even ) Tj ET Q q 0 0 0 rg BT 484.53 58.10 Td (one ) Tj ET Q q 0 0 0 rg BT 500.82 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 511.01 58.10 Td (these ) Tj ET Q q 0 0 0 rg BT 533.42 58.10 Td (claims, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (if ) Tj ET Q q 0 0 0 rg BT 58.40 46.10 Td (it ) Tj ET Q q 0 0 0 rg BT 66.24 46.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 100.18 46.10 Td (in ) Tj ET Q q 0 0 0 rg BT 110.25 46.10 Td (a ) Tj ET Q q 0 0 0 rg BT 116.98 46.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 161.47 46.10 Td (damage ) Tj ET Q q 0 0 0 rg BT 194.86 46.10 Td (award ) Tj ET Q q 0 0 0 rg BT 221.57 46.10 Td (or ) Tj ET Q q 0 0 0 rg BT 232.19 46.10 Td (a ) Tj ET Q q 0 0 0 rg BT 238.92 46.10 Td (judicial ) Tj ET Q q 0 0 0 rg BT 271.19 46.10 Td (ruling ) Tj ET Q q 0 0 0 rg BT 297.37 46.10 Td (that ) Tj ET Q q 0 0 0 rg BT 314.65 46.10 Td (was ) Tj ET Q q 0 0 0 rg BT 332.49 46.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 373.65 46.10 Td (detrimental, ) Tj ET Q q 0 0 0 rg BT 423.98 46.10 Td (could ) Tj ET Q q 0 0 0 rg BT 448.48 46.10 Td (create ) Tj ET Q q 0 0 0 rg BT 474.63 46.10 Td (a ) Tj ET Q q 0 0 0 rg BT 481.36 46.10 Td (precedent ) Tj ET Q q 0 0 0 rg BT 522.51 46.10 Td (that ) Tj ET Q q 0 0 0 rg BT 539.79 46.10 Td (could ) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (have ) Tj ET Q q 0 0 0 rg BT 72.45 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 80.46 742.10 Td (material ) Tj ET Q q 0 0 0 rg BT 116.79 742.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 150.90 742.10 Td (ef) Tj ET Q q 0 0 0 rg BT 158.49 742.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 177.05 742.10 Td (on ) Tj ET Q q 0 0 0 rg BT 190.62 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 207.53 742.10 Td (results ) Tj ET Q q 0 0 0 rg BT 237.21 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 249.11 742.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 294.34 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 312.35 742.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 350.91 742.10 Td (condition. ) Tj ET Q q 0 0 0 rg BT 394.49 742.10 Td (This ) Tj ET Q q 0 0 0 rg BT 415.85 742.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 434.42 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 446.32 742.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 484.89 742.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 519.57 742.10 Td (may ) Tj ET Q q 0 0 0 rg BT 540.36 742.10 Td (make ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 95.21 730.10 Td (settlements ) Tj ET Q q 0 0 0 rg BT 142.65 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 153.44 730.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 182.00 730.10 Td (more ) Tj ET Q q 0 0 0 rg BT 205.00 730.10 Td (dif) Tj ET Q q 0 0 0 rg BT 215.93 730.10 Td (ficult ) Tj ET Q q 0 0 0 rg BT 239.49 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 249.72 730.10 Td (obtain. ) Tj ET Q q 0 0 0 rg BT 279.49 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 288.13 730.10 Td (e ) Tj ET Q q 0 0 0 rg BT 295.02 730.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 324.13 730.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 366.57 730.10 Td (with ) Tj ET Q q 0 0 0 rg BT 386.80 730.10 Td (any ) Tj ET Q q 0 0 0 rg BT 403.70 730.10 Td (certainty ) Tj ET Q q 0 0 0 rg BT 441.13 730.10 Td (what ) Tj ET Q q 0 0 0 rg BT 463.03 730.10 Td (new ) Tj ET Q q 0 0 0 rg BT 482.14 730.10 Td (theories ) Tj ET Q q 0 0 0 rg BT 516.25 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 527.04 730.10 Td (recovery ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (may ) Tj ET Q q 0 0 0 rg BT 69.72 718.10 Td (evolve ) Tj ET Q q 0 0 0 rg BT 98.87 718.10 Td (or ) Tj ET Q q 0 0 0 rg BT 109.70 718.10 Td (what ) Tj ET Q q 0 0 0 rg BT 131.64 718.10 Td (their ) Tj ET Q q 0 0 0 rg BT 152.47 718.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 182.18 718.10 Td (may ) Tj ET Q q 0 0 0 rg BT 201.89 718.10 Td (be ) Tj ET Q q 0 0 0 rg BT 213.83 718.10 Td (on ) Tj ET Q q 0 0 0 rg BT 226.33 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 242.16 718.10 Td (business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 694.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.67 694.10 Td (have ) Tj ET Q q 0 0 0 rg BT 87.15 694.10 Td (been ) Tj ET Q q 0 0 0 rg BT 108.62 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 125.66 694.10 Td (may ) Tj ET Q q 0 0 0 rg BT 145.47 694.10 Td (be ) Tj ET Q q 0 0 0 rg BT 157.51 694.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 188.43 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 198.81 694.10 Td (governmental ) Tj ET Q q 0 0 0 rg BT 256.39 694.10 Td (or ) Tj ET Q q 0 0 0 rg BT 267.31 694.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 327.12 694.10 Td (investigations ) Tj ET Q q 0 0 0 rg BT 385.27 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 402.30 694.10 Td (proceedings. ) Tj ET Q q 0 0 0 rg BT 455.72 694.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 473.87 694.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 514.78 694.10 Td (subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (have ) Tj ET Q q 0 0 0 rg BT 72.02 682.10 Td (been ) Tj ET Q q 0 0 0 rg BT 94.04 682.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 125.51 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 136.44 682.10 Td (numerous ) Tj ET Q q 0 0 0 rg BT 179.02 682.10 Td (inquiries ) Tj ET Q q 0 0 0 rg BT 217.16 682.10 Td (related ) Tj ET Q q 0 0 0 rg BT 247.50 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 258.43 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.79 682.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 319.71 682.10 Td (ownership ) Tj ET Q q 0 0 0 rg BT 364.51 682.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 397.09 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 408.01 682.10 Td (us ) Tj ET Q q 0 0 0 rg BT 420.05 682.10 Td (held ) Tj ET Q q 0 0 0 rg BT 440.41 682.10 Td (by ) Tj ET Q q 0 0 0 rg BT 453.55 682.10 Td (KAI ) Tj ET Q q 0 0 0 rg BT 474.47 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 485.40 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 500.76 682.10 Td (past. ) Tj ET Q q 0 0 0 rg BT 521.82 682.10 Td (As ) Tj ET Q q 0 0 0 rg BT 536.07 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 547.55 682.10 Td (this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (document) Tj ET Q q 0 0 0 rg BT 92.21 670.10 Td (s ) Tj ET Q q 0 0 0 rg BT 99.07 670.10 Td (filing ) Tj ET Q q 0 0 0 rg BT 123.70 670.10 Td (date, ) Tj ET Q q 0 0 0 rg BT 145.82 670.10 Td (KAI) Tj ET Q q 0 0 0 rg BT 166.37 670.10 Td (s ) Tj ET Q q 0 0 0 rg BT 173.22 670.10 Td (ownership ) Tj ET Q q 0 0 0 rg BT 217.85 670.10 Td (is ) Tj ET Q q 0 0 0 rg BT 227.48 670.10 Td (below ) Tj ET Q q 0 0 0 rg BT 254.88 670.10 Td (10% ) Tj ET Q q 0 0 0 rg BT 276.18 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 293.58 670.10 Td (they ) Tj ET Q q 0 0 0 rg BT 313.76 670.10 Td (are ) Tj ET Q q 0 0 0 rg BT 328.93 670.10 Td (no ) Tj ET Q q 0 0 0 rg BT 341.89 670.10 Td (longer ) Tj ET Q q 0 0 0 rg BT 370.41 670.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 416.68 670.10 Td (an ) Tj ET Q q 0 0 0 rg BT 429.09 670.10 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 464.82 670.10 Td (controlling ) Tj ET Q q 0 0 0 rg BT 511.67 670.10 Td (party ) Tj ET Q q 0 0 0 rg BT 535.18 670.10 Td (from ) Tj ET Q q 0 0 0 rg BT 557.58 670.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 87.26 658.10 Td (perspective. ) Tj ET Q q 0 0 0 rg BT 139.90 658.10 Td (W) Tj ET Q q 0 0 0 rg BT 148.53 658.10 Td (e ) Tj ET Q q 0 0 0 rg BT 155.24 658.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 185.27 658.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 215.86 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 225.90 658.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 269.26 658.10 Td (action, ) Tj ET Q q 0 0 0 rg BT 298.46 658.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 345.16 658.10 Td (or ) Tj ET Q q 0 0 0 rg BT 355.75 658.10 Td (heightened ) Tj ET Q q 0 0 0 rg BT 401.89 658.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 450.25 658.10 Td (or ) Tj ET Q q 0 0 0 rg BT 460.84 658.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 499.76 658.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 554.23 658.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 79.98 646.10 Td (states, ) Tj ET Q q 0 0 0 rg BT 107.48 646.10 Td (including ) Tj ET Q q 0 0 0 rg BT 148.03 646.10 Td (Connecticut ) Tj ET Q q 0 0 0 rg BT 199.14 646.10 Td (and ) Tj ET Q q 0 0 0 rg BT 216.15 646.10 Td (T) Tj ET Q q 0 0 0 rg BT 221.56 646.10 Td (exas. ) Tj ET Q q 0 0 0 rg BT 246.91 646.10 Td (T) Tj ET Q q 0 0 0 rg BT 252.32 646.10 Td (exas ) Tj ET Q q 0 0 0 rg BT 272.87 646.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 310.64 646.10 Td (for ) Tj ET Q q 0 0 0 rg BT 325.08 646.10 Td (6.0% ) Tj ET Q q 0 0 0 rg BT 348.69 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 359.80 646.10 Td (our ) Tj ET Q q 0 0 0 rg BT 375.91 646.10 Td (net ) Tj ET Q q 0 0 0 rg BT 390.91 646.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 433.68 646.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 463.11 646.10 Td (to ) Tj ET Q q 0 0 0 rg BT 473.67 646.10 Td (date ) Tj ET Q q 0 0 0 rg BT 493.11 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 503.67 646.10 Td (2014. ) Tj ET Q q 0 0 0 rg BT 531.45 646.10 Td (Prior ) Tj ET Q q 0 0 0 rg BT 554.23 646.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 75.54 634.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 122.06 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 132.44 634.10 Td (American ) Tj ET Q q 0 0 0 rg BT 174.49 634.10 Td (Country) Tj ET Q q 0 0 0 rg BT 206.62 634.10 Td (, ) Tj ET Q q 0 0 0 rg BT 211.75 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 226.60 634.10 Td (Connecticut ) Tj ET Q q 0 0 0 rg BT 277.55 634.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 318.50 634.10 Td (commissioner ) Tj ET Q q 0 0 0 rg BT 377.24 634.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 404.87 634.10 Td (an ) Tj ET Q q 0 0 0 rg BT 416.94 634.10 Td (order ) Tj ET Q q 0 0 0 rg BT 440.67 634.10 Td (prohibiting ) Tj ET Q q 0 0 0 rg BT 487.16 634.10 Td (American ) Tj ET Q q 0 0 0 rg BT 529.22 634.10 Td (Country ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.75 622.10 Td (writing ) Tj ET Q q 0 0 0 rg BT 102.94 622.10 Td (new ) Tj ET Q q 0 0 0 rg BT 121.91 622.10 Td (policies, ) Tj ET Q q 0 0 0 rg BT 157.82 622.10 Td (limiting ) Tj ET Q q 0 0 0 rg BT 191.80 622.10 Td (it ) Tj ET Q q 0 0 0 rg BT 199.67 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 209.75 622.10 Td (only ) Tj ET Q q 0 0 0 rg BT 229.84 622.10 Td (renewing ) Tj ET Q q 0 0 0 rg BT 269.36 622.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 303.33 622.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 336.74 622.10 Td (in ) Tj ET Q q 0 0 0 rg BT 346.83 622.10 Td (that ) Tj ET Q q 0 0 0 rg BT 364.13 622.10 Td (state. ) Tj ET Q q 0 0 0 rg BT 389.77 622.10 Td (Currently) Tj ET Q q 0 0 0 rg BT 427.44 622.10 Td (, ) Tj ET Q q 0 0 0 rg BT 432.25 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.78 622.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 487.40 622.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 536.93 622.10 Td (do ) Tj ET Q q 0 0 0 rg BT 549.23 622.10 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (write ) Tj ET Q q 0 0 0 rg BT 73.08 610.10 Td (any ) Tj ET Q q 0 0 0 rg BT 90.05 610.10 Td (business ) Tj ET Q q 0 0 0 rg BT 126.47 610.10 Td (in ) Tj ET Q q 0 0 0 rg BT 136.78 610.10 Td (Connecticut, ) Tj ET Q q 0 0 0 rg BT 190.13 610.10 Td (but ) Tj ET Q q 0 0 0 rg BT 205.44 610.10 Td (may ) Tj ET Q q 0 0 0 rg BT 225.19 610.10 Td (seek ) Tj ET Q q 0 0 0 rg BT 245.49 610.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 283.00 610.10 Td (to ) Tj ET Q q 0 0 0 rg BT 293.31 610.10 Td (write ) Tj ET Q q 0 0 0 rg BT 316.39 610.10 Td (business ) Tj ET Q q 0 0 0 rg BT 352.81 610.10 Td (in ) Tj ET Q q 0 0 0 rg BT 363.12 610.10 Td (this ) Tj ET Q q 0 0 0 rg BT 380.10 610.10 Td (state ) Tj ET Q q 0 0 0 rg BT 400.95 610.10 Td (at ) Tj ET Q q 0 0 0 rg BT 410.70 610.10 Td (some ) Tj ET Q q 0 0 0 rg BT 434.34 610.10 Td (point ) Tj ET Q q 0 0 0 rg BT 457.43 610.10 Td (in ) Tj ET Q q 0 0 0 rg BT 467.74 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 482.49 610.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 513.89 610.10 Td (In ) Tj ET Q q 0 0 0 rg BT 524.75 610.10 Td (2009, ) Tj ET Q q 0 0 0 rg BT 549.78 610.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 598.10 Td (exas ) Tj ET Q q 0 0 0 rg BT 74.79 598.10 Td (Department ) Tj ET Q q 0 0 0 rg BT 123.60 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 133.53 598.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 174.01 598.10 Td (indicated ) Tj ET Q q 0 0 0 rg BT 212.27 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 221.65 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 235.48 598.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 275.40 598.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 324.23 598.10 Td (that ) Tj ET Q q 0 0 0 rg BT 340.83 598.10 Td (it ) Tj ET Q q 0 0 0 rg BT 347.99 598.10 Td (was ) Tj ET Q q 0 0 0 rg BT 365.15 598.10 Td (considering ) Tj ET Q q 0 0 0 rg BT 413.42 598.10 Td (revoking ) Tj ET Q q 0 0 0 rg BT 450.57 598.10 Td (their ) Tj ET Q q 0 0 0 rg BT 470.51 598.10 Td (certificates ) Tj ET Q q 0 0 0 rg BT 515.97 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 525.91 598.10 Td (authority ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (to ) Tj ET Q q 0 0 0 rg BT 61.48 586.10 Td (write ) Tj ET Q q 0 0 0 rg BT 85.73 586.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 127.74 586.10 Td (business ) Tj ET Q q 0 0 0 rg BT 165.33 586.10 Td (in ) Tj ET Q q 0 0 0 rg BT 176.54 586.10 Td (T) Tj ET Q q 0 0 0 rg BT 181.95 586.10 Td (exas. ) Tj ET Q q 0 0 0 rg BT 208.42 586.10 Td (Following ) Tj ET Q q 0 0 0 rg BT 253.24 586.10 Td (discussions ) Tj ET Q q 0 0 0 rg BT 302.50 586.10 Td (with ) Tj ET Q q 0 0 0 rg BT 323.98 586.10 Td (management ) Tj ET Q q 0 0 0 rg BT 378.77 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 390.80 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 406.72 586.10 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 456.52 586.10 Td ( ) Tj ET Q q 0 0 0 rg BT 460.22 586.10 Td (former ) Tj ET Q q 0 0 0 rg BT 491.13 586.10 Td (owner) Tj ET Q q 0 0 0 rg BT 515.72 586.10 Td (, ) Tj ET Q q 0 0 0 rg BT 521.92 586.10 Td (KFSI, ) Tj ET Q q 0 0 0 rg BT 549.79 586.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 89.87 574.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 138.65 574.10 Td (were ) Tj ET Q q 0 0 0 rg BT 159.63 574.10 Td (allowed ) Tj ET Q q 0 0 0 rg BT 192.84 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 202.18 574.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 226.50 574.10 Td (their ) Tj ET Q q 0 0 0 rg BT 246.38 574.10 Td (licenses, ) Tj ET Q q 0 0 0 rg BT 282.09 574.10 Td (in ) Tj ET Q q 0 0 0 rg BT 291.43 574.10 Td (part, ) Tj ET Q q 0 0 0 rg BT 311.03 574.10 Td (in ) Tj ET Q q 0 0 0 rg BT 320.37 574.10 Td (anticipation ) Tj ET Q q 0 0 0 rg BT 369.13 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 379.02 574.10 Td (a ) Tj ET Q q 0 0 0 rg BT 385.01 574.10 Td (planned ) Tj ET Q q 0 0 0 rg BT 418.22 574.10 Td (spin-of) Tj ET Q q 0 0 0 rg BT 446.37 574.10 Td (f ) Tj ET Q q 0 0 0 rg BT 451.26 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 461.15 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 474.92 574.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 514.79 574.10 Td (subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (outside ) Tj ET Q q 0 0 0 rg BT 81.47 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 92.39 562.10 Td (KFSI ) Tj ET Q q 0 0 0 rg BT 116.65 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 133.68 562.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 164.59 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 174.96 562.10 Td (their ) Tj ET Q q 0 0 0 rg BT 195.87 562.10 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 248.98 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 259.90 562.10 Td (a ) Tj ET Q q 0 0 0 rg BT 266.92 562.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 304.51 562.10 Td (deposit ) Tj ET Q q 0 0 0 rg BT 335.98 562.10 Td (in ) Tj ET Q q 0 0 0 rg BT 346.16 562.10 Td (T) Tj ET Q q 0 0 0 rg BT 351.57 562.10 Td (exas. ) Tj ET Q q 0 0 0 rg BT 376.92 562.10 Td (If ) Tj ET Q q 0 0 0 rg BT 386.17 562.10 Td (we ) Tj ET Q q 0 0 0 rg BT 400.42 562.10 Td (are ) Tj ET Q q 0 0 0 rg BT 415.21 562.10 Td (not ) Tj ET Q q 0 0 0 rg BT 430.58 562.10 Td (able ) Tj ET Q q 0 0 0 rg BT 449.82 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 460.18 562.10 Td (successfully ) Tj ET Q q 0 0 0 rg BT 511.65 562.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 544.23 562.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (or ) Tj ET Q q 0 0 0 rg BT 61.16 550.10 Td (lift ) Tj ET Q q 0 0 0 rg BT 75.66 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 90.72 550.10 Td (heightened ) Tj ET Q q 0 0 0 rg BT 137.42 550.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 186.35 550.10 Td (or ) Tj ET Q q 0 0 0 rg BT 197.51 550.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 240.89 550.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 295.93 550.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 339.85 550.10 Td (in ) Tj ET Q q 0 0 0 rg BT 350.46 550.10 Td (one ) Tj ET Q q 0 0 0 rg BT 367.74 550.10 Td (or ) Tj ET Q q 0 0 0 rg BT 378.90 550.10 Td (more ) Tj ET Q q 0 0 0 rg BT 402.28 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 413.45 550.10 Td (these ) Tj ET Q q 0 0 0 rg BT 436.83 550.10 Td (states ) Tj ET Q q 0 0 0 rg BT 461.88 550.10 Td (or ) Tj ET Q q 0 0 0 rg BT 473.04 550.10 Td (any ) Tj ET Q q 0 0 0 rg BT 490.32 550.10 Td (new ) Tj ET Q q 0 0 0 rg BT 509.81 550.10 Td (requirements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.74 538.10 Td (a ) Tj ET Q q 0 0 0 rg BT 74.92 538.10 Td (state ) Tj ET Q q 0 0 0 rg BT 95.98 538.10 Td (may ) Tj ET Q q 0 0 0 rg BT 115.94 538.10 Td (impose ) Tj ET Q q 0 0 0 rg BT 147.57 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 158.08 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 173.04 538.10 Td (future, ) Tj ET Q q 0 0 0 rg BT 202.16 538.10 Td (we ) Tj ET Q q 0 0 0 rg BT 216.56 538.10 Td (may ) Tj ET Q q 0 0 0 rg BT 236.52 538.10 Td (not ) Tj ET Q q 0 0 0 rg BT 252.04 538.10 Td (be ) Tj ET Q q 0 0 0 rg BT 264.22 538.10 Td (able ) Tj ET Q q 0 0 0 rg BT 283.61 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 294.13 538.10 Td (expand ) Tj ET Q q 0 0 0 rg BT 325.75 538.10 Td (our ) Tj ET Q q 0 0 0 rg BT 341.82 538.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 386.22 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 396.74 538.10 Td (such ) Tj ET Q q 0 0 0 rg BT 417.81 538.10 Td (state ) Tj ET Q q 0 0 0 rg BT 438.87 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 449.39 538.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 497.09 538.10 Td (with ) Tj ET Q q 0 0 0 rg BT 517.61 538.10 Td (our ) Tj ET Q q 0 0 0 rg BT 533.68 538.10 Td (growth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 83.38 526.10 Td (or ) Tj ET Q q 0 0 0 rg BT 93.43 526.10 Td (we ) Tj ET Q q 0 0 0 rg BT 106.81 526.10 Td (could ) Tj ET Q q 0 0 0 rg BT 130.75 526.10 Td (be ) Tj ET Q q 0 0 0 rg BT 141.91 526.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 171.96 526.10 Td (to ) Tj ET Q q 0 0 0 rg BT 181.46 526.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 223.18 526.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 265.99 526.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 319.92 526.10 Td (that ) Tj ET Q q 0 0 0 rg BT 336.63 526.10 Td (could ) Tj ET Q q 0 0 0 rg BT 360.57 526.10 Td (impose ) Tj ET Q q 0 0 0 rg BT 391.18 526.10 Td (a ) Tj ET Q q 0 0 0 rg BT 397.34 526.10 Td (material ) Tj ET Q q 0 0 0 rg BT 431.83 526.10 Td (burden ) Tj ET Q q 0 0 0 rg BT 461.32 526.10 Td (on ) Tj ET Q q 0 0 0 rg BT 473.04 526.10 Td (our ) Tj ET Q q 0 0 0 rg BT 488.09 526.10 Td (expansion ) Tj ET Q q 0 0 0 rg BT 530.36 526.10 Td (strategy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.57 514.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 81.70 514.10 Td (or ) Tj ET Q q 0 0 0 rg BT 92.27 514.10 Td (prohibit ) Tj ET Q q 0 0 0 rg BT 126.18 514.10 Td (our ) Tj ET Q q 0 0 0 rg BT 141.75 514.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 169.54 514.10 Td (to ) Tj ET Q q 0 0 0 rg BT 179.56 514.10 Td (write ) Tj ET Q q 0 0 0 rg BT 202.35 514.10 Td (new ) Tj ET Q q 0 0 0 rg BT 221.25 514.10 Td (and ) Tj ET Q q 0 0 0 rg BT 237.92 514.10 Td (renewal ) Tj ET Q q 0 0 0 rg BT 271.81 514.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 312.37 514.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 345.71 514.10 Td (in ) Tj ET Q q 0 0 0 rg BT 355.73 514.10 Td (such ) Tj ET Q q 0 0 0 rg BT 376.30 514.10 Td (state. ) Tj ET Q q 0 0 0 rg BT 401.37 514.10 Td (Any ) Tj ET Q q 0 0 0 rg BT 420.83 514.10 Td (such ) Tj ET Q q 0 0 0 rg BT 441.40 514.10 Td (limitation ) Tj ET Q q 0 0 0 rg BT 482.53 514.10 Td (or ) Tj ET Q q 0 0 0 rg BT 493.10 514.10 Td (prohibition ) Tj ET Q q 0 0 0 rg BT 539.78 514.10 Td (could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (have ) Tj ET Q q 0 0 0 rg BT 71.63 502.10 Td (a ) Tj ET Q q 0 0 0 rg BT 78.83 502.10 Td (material ) Tj ET Q q 0 0 0 rg BT 114.35 502.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 147.64 502.10 Td (ef) Tj ET Q q 0 0 0 rg BT 155.23 502.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 172.97 502.10 Td (on ) Tj ET Q q 0 0 0 rg BT 185.73 502.10 Td (our ) Tj ET Q q 0 0 0 rg BT 201.82 502.10 Td (results ) Tj ET Q q 0 0 0 rg BT 230.69 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 241.77 502.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 286.19 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 303.38 502.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 341.12 502.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 385.54 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 402.74 502.10 Td (on ) Tj ET Q q 0 0 0 rg BT 415.50 502.10 Td (our ) Tj ET Q q 0 0 0 rg BT 431.59 502.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 459.90 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 470.43 502.10 Td (execute ) Tj ET Q q 0 0 0 rg BT 503.72 502.10 Td (our ) Tj ET Q q 0 0 0 rg BT 519.81 502.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 554.22 502.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.53 490.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 93.05 490.10 Td (The ) Tj ET Q q 0 0 0 rg BT 110.90 490.10 Td (result ) Tj ET Q q 0 0 0 rg BT 135.43 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 146.07 490.10 Td (these ) Tj ET Q q 0 0 0 rg BT 168.92 490.10 Td (inquiries ) Tj ET Q q 0 0 0 rg BT 206.23 490.10 Td (could ) Tj ET Q q 0 0 0 rg BT 230.76 490.10 Td (lead ) Tj ET Q q 0 0 0 rg BT 249.72 490.10 Td (to ) Tj ET Q q 0 0 0 rg BT 259.81 490.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 302.11 490.10 Td (requirements, ) Tj ET Q q 0 0 0 rg BT 359.12 490.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 405.86 490.10 Td (or ) Tj ET Q q 0 0 0 rg BT 416.50 490.10 Td (limitations ) Tj ET Q q 0 0 0 rg BT 461.59 490.10 Td (being ) Tj ET Q q 0 0 0 rg BT 486.12 490.10 Td (placed ) Tj ET Q q 0 0 0 rg BT 514.52 490.10 Td (on ) Tj ET Q q 0 0 0 rg BT 526.83 490.10 Td (us ) Tj ET Q q 0 0 0 rg BT 538.03 490.10 Td (or ) Tj ET Q q 0 0 0 rg BT 548.67 490.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 91.03 478.10 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 143.46 478.10 Td (any ) Tj ET Q q 0 0 0 rg BT 160.61 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 171.65 478.10 Td (which ) Tj ET Q q 0 0 0 rg BT 198.80 478.10 Td (could ) Tj ET Q q 0 0 0 rg BT 223.73 478.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 259.20 478.10 Td (our ) Tj ET Q q 0 0 0 rg BT 275.24 478.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 297.95 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 308.99 478.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 352.80 478.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 401.60 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 418.75 478.10 Td (could ) Tj ET Q q 0 0 0 rg BT 443.68 478.10 Td (have ) Tj ET Q q 0 0 0 rg BT 465.27 478.10 Td (an ) Tj ET Q q 0 0 0 rg BT 477.42 478.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 510.67 478.10 Td (ef) Tj ET Q q 0 0 0 rg BT 518.26 478.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 535.96 478.10 Td (on ) Tj ET Q q 0 0 0 rg BT 548.67 478.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 78.02 466.10 Td (to ) Tj ET Q q 0 0 0 rg BT 88.27 466.10 Td (operate ) Tj ET Q q 0 0 0 rg BT 120.17 466.10 Td (our ) Tj ET Q q 0 0 0 rg BT 135.97 466.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 174.29 466.10 Td (As ) Tj ET Q q 0 0 0 rg BT 187.88 466.10 Td (a ) Tj ET Q q 0 0 0 rg BT 194.79 466.10 Td (general ) Tj ET Q q 0 0 0 rg BT 226.68 466.10 Td (matter) Tj ET Q q 0 0 0 rg BT 251.82 466.10 Td (, ) Tj ET Q q 0 0 0 rg BT 256.80 466.10 Td (we ) Tj ET Q q 0 0 0 rg BT 270.93 466.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 300.06 466.10 Td (predict ) Tj ET Q q 0 0 0 rg BT 330.29 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 344.98 466.10 Td (outcome ) Tj ET Q q 0 0 0 rg BT 381.89 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 392.69 466.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 436.25 466.10 Td (investigations, ) Tj ET Q q 0 0 0 rg BT 496.78 466.10 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 547.57 466.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (reviews, ) Tj ET Q q 0 0 0 rg BT 85.39 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 101.63 454.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 130.08 454.10 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 170.73 454.10 Td (that ) Tj ET Q q 0 0 0 rg BT 187.52 454.10 Td (such ) Tj ET Q q 0 0 0 rg BT 207.65 454.10 Td (investigations, ) Tj ET Q q 0 0 0 rg BT 267.49 454.10 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 317.60 454.10 Td (or ) Tj ET Q q 0 0 0 rg BT 327.73 454.10 Td (reviews ) Tj ET Q q 0 0 0 rg BT 360.62 454.10 Td (or ) Tj ET Q q 0 0 0 rg BT 370.74 454.10 Td (related ) Tj ET Q q 0 0 0 rg BT 399.74 454.10 Td (litigation ) Tj ET Q q 0 0 0 rg BT 437.64 454.10 Td (or ) Tj ET Q q 0 0 0 rg BT 447.77 454.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 481.77 454.10 Td (in ) Tj ET Q q 0 0 0 rg BT 491.34 454.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 530.90 454.10 Td (policies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.50 442.10 Td (practices ) Tj ET Q q 0 0 0 rg BT 106.10 442.10 Td (would ) Tj ET Q q 0 0 0 rg BT 134.16 442.10 Td (not ) Tj ET Q q 0 0 0 rg BT 150.00 442.10 Td (materially ) Tj ET Q q 0 0 0 rg BT 193.60 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 211.10 442.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 252.48 442.10 Td (af) Tj ET Q q 0 0 0 rg BT 260.07 442.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 278.12 442.10 Td (our ) Tj ET Q q 0 0 0 rg BT 294.51 442.10 Td (results ) Tj ET Q q 0 0 0 rg BT 323.68 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 335.07 442.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 379.79 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 397.29 442.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 435.34 442.10 Td (condition. ) Tj ET Q q 0 0 0 rg BT 478.67 442.10 Td (In ) Tj ET Q q 0 0 0 rg BT 490.07 442.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 528.40 442.10 Td (we ) Tj ET Q q 0 0 0 rg BT 543.13 442.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (experienced ) Tj ET Q q 0 0 0 rg BT 100.85 430.10 Td (dif) Tj ET Q q 0 0 0 rg BT 111.78 430.10 Td (ficulties ) Tj ET Q q 0 0 0 rg BT 146.54 430.10 Td (with ) Tj ET Q q 0 0 0 rg BT 166.87 430.10 Td (our ) Tj ET Q q 0 0 0 rg BT 182.74 430.10 Td (relationships ) Tj ET Q q 0 0 0 rg BT 236.40 430.10 Td (with ) Tj ET Q q 0 0 0 rg BT 256.72 430.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 300.37 430.10 Td (bodies ) Tj ET Q q 0 0 0 rg BT 329.02 430.10 Td (in ) Tj ET Q q 0 0 0 rg BT 339.35 430.10 Td (various ) Tj ET Q q 0 0 0 rg BT 371.34 430.10 Td (jurisdictions, ) Tj ET Q q 0 0 0 rg BT 425.83 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 442.82 430.10 Td (if ) Tj ET Q q 0 0 0 rg BT 451.47 430.10 Td (such ) Tj ET Q q 0 0 0 rg BT 472.35 430.10 Td (dif) Tj ET Q q 0 0 0 rg BT 483.28 430.10 Td (ficulties ) Tj ET Q q 0 0 0 rg BT 518.04 430.10 Td (arise ) Tj ET Q q 0 0 0 rg BT 539.47 430.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.79 430.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (future, ) Tj ET Q q 0 0 0 rg BT 78.88 418.10 Td (they ) Tj ET Q q 0 0 0 rg BT 98.59 418.10 Td (could ) Tj ET Q q 0 0 0 rg BT 123.31 418.10 Td (have ) Tj ET Q q 0 0 0 rg BT 144.69 418.10 Td (a ) Tj ET Q q 0 0 0 rg BT 151.63 418.10 Td (material ) Tj ET Q q 0 0 0 rg BT 186.88 418.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 219.92 418.10 Td (ef) Tj ET Q q 0 0 0 rg BT 227.51 418.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 245.00 418.10 Td (on ) Tj ET Q q 0 0 0 rg BT 257.50 418.10 Td (our ) Tj ET Q q 0 0 0 rg BT 273.33 418.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 301.38 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 311.66 418.10 Td (do ) Tj ET Q q 0 0 0 rg BT 324.16 418.10 Td (business ) Tj ET Q q 0 0 0 rg BT 360.55 418.10 Td (in ) Tj ET Q q 0 0 0 rg BT 370.83 418.10 Td (that ) Tj ET Q q 0 0 0 rg BT 388.32 418.10 Td (jurisdiction.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 69.17 394.10 Td (business ) Tj ET Q q 0 0 0 rg BT 106.69 394.10 Td (could ) Tj ET Q q 0 0 0 rg BT 131.97 394.10 Td (be ) Tj ET Q q 0 0 0 rg BT 143.91 394.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 184.72 394.10 Td (af) Tj ET Q q 0 0 0 rg BT 192.87 394.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 219.79 394.10 Td (as ) Tj ET Q q 0 0 0 rg BT 231.19 394.10 Td (a ) Tj ET Q q 0 0 0 rg BT 238.69 394.10 Td (result ) Tj ET Q q 0 0 0 rg BT 264.53 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.36 394.10 Td (changing ) Tj ET Q q 0 0 0 rg BT 316.76 394.10 Td (political, ) Tj ET Q q 0 0 0 rg BT 355.09 394.10 Td (regulatory) Tj ET Q q 0 0 0 rg BT 397.50 394.10 Td (, ) Tj ET Q q 0 0 0 rg BT 402.50 394.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 444.43 394.10 Td (or ) Tj ET Q q 0 0 0 rg BT 455.82 394.10 Td (other ) Tj ET Q q 0 0 0 rg BT 479.99 394.10 Td (influences.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.89 370.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 108.55 370.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 143.68 370.10 Td (is ) Tj ET Q q 0 0 0 rg BT 152.70 370.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 183.37 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 193.49 370.10 Td (changing ) Tj ET Q q 0 0 0 rg BT 232.49 370.10 Td (political, ) Tj ET Q q 0 0 0 rg BT 270.11 370.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 311.33 370.10 Td (and ) Tj ET Q q 0 0 0 rg BT 328.11 370.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 371.55 370.10 Td (influences. ) Tj ET Q q 0 0 0 rg BT 417.32 370.10 Td (These ) Tj ET Q q 0 0 0 rg BT 443.54 370.10 Td (influences ) Tj ET Q q 0 0 0 rg BT 486.98 370.10 Td (af) Tj ET Q q 0 0 0 rg BT 494.57 370.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 511.90 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.47 370.10 Td (practices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.03 358.10 Td (operation ) Tj ET Q q 0 0 0 rg BT 105.38 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 115.30 358.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 155.20 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 171.23 358.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 218.90 358.10 Td (or) Tj ET Q q 0 0 0 rg BT 227.05 358.10 Td (ganizations. ) Tj ET Q q 0 0 0 rg BT 276.68 358.10 Td (Legislatures ) Tj ET Q q 0 0 0 rg BT 327.14 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 336.51 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.31 358.10 Td (United ) Tj ET Q q 0 0 0 rg BT 379.12 358.10 Td (States ) Tj ET Q q 0 0 0 rg BT 404.59 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 420.62 358.10 Td (other ) Tj ET Q q 0 0 0 rg BT 442.75 358.10 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 493.79 358.10 Td (have ) Tj ET Q q 0 0 0 rg BT 514.25 358.10 Td (periodically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 95.99 346.10 Td (programs ) Tj ET Q q 0 0 0 rg BT 136.43 346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 146.88 346.10 Td (reform ) Tj ET Q q 0 0 0 rg BT 176.75 346.10 Td (or ) Tj ET Q q 0 0 0 rg BT 187.75 346.10 Td (amend ) Tj ET Q q 0 0 0 rg BT 217.08 346.10 Td (their ) Tj ET Q q 0 0 0 rg BT 238.08 346.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 281.28 346.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 322.27 346.10 Td (and ) Tj ET Q q 0 0 0 rg BT 339.38 346.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 388.13 346.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 431.89 346.10 Td (systems. ) Tj ET Q q 0 0 0 rg BT 468.74 346.10 Td (Recently) Tj ET Q q 0 0 0 rg BT 503.63 346.10 Td (, ) Tj ET Q q 0 0 0 rg BT 508.80 346.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.69 346.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.78 334.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 115.21 334.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 158.64 334.10 Td (framework ) Tj ET Q q 0 0 0 rg BT 204.85 334.10 Td (has ) Tj ET Q q 0 0 0 rg BT 220.52 334.10 Td (been ) Tj ET Q q 0 0 0 rg BT 241.74 334.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 272.40 334.10 Td (to ) Tj ET Q q 0 0 0 rg BT 282.52 334.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 322.62 334.10 Td (scrutiny ) Tj ET Q q 0 0 0 rg BT 357.18 334.10 Td (in ) Tj ET Q q 0 0 0 rg BT 367.30 334.10 Td (many ) Tj ET Q q 0 0 0 rg BT 391.86 334.10 Td (jurisdictions. ) Tj ET Q q 0 0 0 rg BT 446.14 334.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 482.92 334.10 Td (in ) Tj ET Q q 0 0 0 rg BT 493.04 334.10 Td (current ) Tj ET Q q 0 0 0 rg BT 523.70 334.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 73.25 322.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 120.10 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 136.96 322.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 158.81 322.10 Td (may ) Tj ET Q q 0 0 0 rg BT 178.45 322.10 Td (result ) Tj ET Q q 0 0 0 rg BT 203.08 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 213.28 322.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 253.45 322.10 Td (governmental ) Tj ET Q q 0 0 0 rg BT 310.85 322.10 Td (involvement ) Tj ET Q q 0 0 0 rg BT 363.26 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 373.46 322.10 Td (or ) Tj ET Q q 0 0 0 rg BT 384.21 322.10 Td (supervision ) Tj ET Q q 0 0 0 rg BT 432.73 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 443.48 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 458.12 322.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 498.85 322.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 534.05 322.10 Td (or ) Tj ET Q q 0 0 0 rg BT 544.80 322.10 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 92.57 310.10 Td (change ) Tj ET Q q 0 0 0 rg BT 124.58 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.48 310.10 Td (business ) Tj ET Q q 0 0 0 rg BT 178.07 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 196.20 310.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 238.76 310.10 Td (environment ) Tj ET Q q 0 0 0 rg BT 292.99 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 304.46 310.10 Td (which ) Tj ET Q q 0 0 0 rg BT 332.59 310.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 374.60 310.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 411.07 310.10 Td (participants ) Tj ET Q q 0 0 0 rg BT 461.41 310.10 Td (operate. ) Tj ET Q q 0 0 0 rg BT 497.03 310.10 Td (Historically) Tj ET Q q 0 0 0 rg BT 543.59 310.10 Td (, ) Tj ET Q q 0 0 0 rg BT 549.78 310.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 97.29 298.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 137.90 298.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 172.97 298.10 Td (has ) Tj ET Q q 0 0 0 rg BT 188.59 298.10 Td (been ) Tj ET Q q 0 0 0 rg BT 209.77 298.10 Td (under ) Tj ET Q q 0 0 0 rg BT 234.83 298.10 Td (pressure ) Tj ET Q q 0 0 0 rg BT 270.44 298.10 Td (from ) Tj ET Q q 0 0 0 rg BT 292.18 298.10 Td (time ) Tj ET Q q 0 0 0 rg BT 312.25 298.10 Td (to ) Tj ET Q q 0 0 0 rg BT 322.32 298.10 Td (time ) Tj ET Q q 0 0 0 rg BT 342.39 298.10 Td (from ) Tj ET Q q 0 0 0 rg BT 364.12 298.10 Td (regulators, ) Tj ET Q q 0 0 0 rg BT 408.90 298.10 Td (legislators ) Tj ET Q q 0 0 0 rg BT 452.30 298.10 Td (or ) Tj ET Q q 0 0 0 rg BT 462.92 298.10 Td (special ) Tj ET Q q 0 0 0 rg BT 492.98 298.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 524.71 298.10 Td (groups ) Tj ET Q q 0 0 0 rg BT 554.23 298.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (reduce, ) Tj ET Q q 0 0 0 rg BT 82.42 286.10 Td (freeze ) Tj ET Q q 0 0 0 rg BT 110.11 286.10 Td (or ) Tj ET Q q 0 0 0 rg BT 121.72 286.10 Td (set ) Tj ET Q q 0 0 0 rg BT 136.10 286.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 158.26 286.10 Td (at ) Tj ET Q q 0 0 0 rg BT 168.75 286.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 195.35 286.10 Td (that ) Tj ET Q q 0 0 0 rg BT 213.62 286.10 Td (are ) Tj ET Q q 0 0 0 rg BT 229.11 286.10 Td (not ) Tj ET Q q 0 0 0 rg BT 245.16 286.10 Td (necessarily ) Tj ET Q q 0 0 0 rg BT 292.86 286.10 Td (related ) Tj ET Q q 0 0 0 rg BT 323.34 286.10 Td (to ) Tj ET Q q 0 0 0 rg BT 334.39 286.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 381.00 286.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 404.27 286.10 Td (or ) Tj ET Q q 0 0 0 rg BT 415.88 286.10 Td (risks, ) Tj ET Q q 0 0 0 rg BT 440.55 286.10 Td (including ) Tj ET Q q 0 0 0 rg BT 481.60 286.10 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 524.31 286.10 Td (to ) Tj ET Q q 0 0 0 rg BT 535.37 286.10 Td (reduce ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 97.51 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 114.48 274.10 Td (other ) Tj ET Q q 0 0 0 rg BT 137.55 274.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 187.27 274.10 Td (line ) Tj ET Q q 0 0 0 rg BT 204.79 274.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 245.62 274.10 Td (rates. ) Tj ET Q q 0 0 0 rg BT 269.34 274.10 Td (These ) Tj ET Q q 0 0 0 rg BT 295.74 274.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 330.47 274.10 Td (may ) Tj ET Q q 0 0 0 rg BT 350.21 274.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 371.63 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 386.37 274.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 414.44 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 425.30 274.10 Td (our ) Tj ET Q q 0 0 0 rg BT 441.15 274.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 481.99 274.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 531.73 274.10 Td (to ) Tj ET Q q 0 0 0 rg BT 542.03 274.10 Td (price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 97.74 262.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 138.81 262.10 Td (adequately ) Tj ET Q q 0 0 0 rg BT 184.88 262.10 Td (and ) Tj ET Q q 0 0 0 rg BT 202.07 262.10 Td (could ) Tj ET Q q 0 0 0 rg BT 227.04 262.10 Td (require ) Tj ET Q q 0 0 0 rg BT 258.10 262.10 Td (us ) Tj ET Q q 0 0 0 rg BT 269.75 262.10 Td (to ) Tj ET Q q 0 0 0 rg BT 280.28 262.10 Td (discontinue ) Tj ET Q q 0 0 0 rg BT 329.14 262.10 Td (unprofitable ) Tj ET Q q 0 0 0 rg BT 380.76 262.10 Td (product ) Tj ET Q q 0 0 0 rg BT 414.06 262.10 Td (lines, ) Tj ET Q q 0 0 0 rg BT 438.20 262.10 Td (make ) Tj ET Q q 0 0 0 rg BT 462.61 262.10 Td (unplanned ) Tj ET Q q 0 0 0 rg BT 507.02 262.10 Td (modifications ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 250.10 Td (our ) Tj ET Q q 0 0 0 rg BT 76.66 250.10 Td (products ) Tj ET Q q 0 0 0 rg BT 113.60 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 130.54 250.10 Td (services, ) Tj ET Q q 0 0 0 rg BT 167.74 250.10 Td (or ) Tj ET Q q 0 0 0 rg BT 178.57 250.10 Td (result ) Tj ET Q q 0 0 0 rg BT 203.29 250.10 Td (in ) Tj ET Q q 0 0 0 rg BT 213.57 250.10 Td (delays ) Tj ET Q q 0 0 0 rg BT 241.62 250.10 Td (or ) Tj ET Q q 0 0 0 rg BT 252.45 250.10 Td (cancellations ) Tj ET Q q 0 0 0 rg BT 307.14 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 317.97 250.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 339.91 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 350.74 250.10 Td (our ) Tj ET Q q 0 0 0 rg BT 366.57 250.10 Td (products ) Tj ET Q q 0 0 0 rg BT 403.51 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 420.45 250.10 Td (services.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (Failure ) Tj ET Q q 0 0 0 rg BT 82.99 226.10 Td (to ) Tj ET Q q 0 0 0 rg BT 92.64 226.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 131.75 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.40 226.10 Td (security ) Tj ET Q q 0 0 0 rg BT 180.49 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.69 226.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 228.13 226.10 Td (data ) Tj ET Q q 0 0 0 rg BT 247.78 226.10 Td (and ) Tj ET Q q 0 0 0 rg BT 265.21 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 279.86 226.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 327.28 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 337.49 226.10 Td (critical ) Tj ET Q q 0 0 0 rg BT 368.24 226.10 Td (systems ) Tj ET Q q 0 0 0 rg BT 401.22 226.10 Td (may ) Tj ET Q q 0 0 0 rg BT 420.31 226.10 Td (result ) Tj ET Q q 0 0 0 rg BT 445.52 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 455.73 226.10 Td (lost ) Tj ET Q q 0 0 0 rg BT 472.06 226.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 511.44 226.10 Td (reputational ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (damage, ) Tj ET Q q 0 0 0 rg BT 87.22 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 105.28 214.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 127.77 214.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 150.27 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 168.33 214.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 213.61 214.10 Td (fines.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.24 190.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 109.24 190.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 159.14 190.10 Td (obtain ) Tj ET Q q 0 0 0 rg BT 186.82 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 203.95 190.10 Td (store ) Tj ET Q q 0 0 0 rg BT 226.07 190.10 Td (vast ) Tj ET Q q 0 0 0 rg BT 244.86 190.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 281.44 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 292.45 190.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 329.01 190.10 Td (data ) Tj ET Q q 0 0 0 rg BT 348.35 190.10 Td (that ) Tj ET Q q 0 0 0 rg BT 366.04 190.10 Td (can ) Tj ET Q q 0 0 0 rg BT 382.60 190.10 Td (present ) Tj ET Q q 0 0 0 rg BT 414.16 190.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 459.06 190.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 480.63 190.10 Td (to ) Tj ET Q q 0 0 0 rg BT 491.10 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 506.00 190.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 547.57 190.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (its ) Tj ET Q q 0 0 0 rg BT 61.73 178.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 104.55 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 121.27 178.10 Td (employees. ) Tj ET Q q 0 0 0 rg BT 168.81 178.10 Td ( ) Tj ET Q q 0 0 0 rg BT 170.92 178.10 Td (V) Tj ET Q q 0 0 0 rg BT 177.04 178.10 Td (arious ) Tj ET Q q 0 0 0 rg BT 203.75 178.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 224.36 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 241.08 178.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 287.79 178.10 Td (govern ) Tj ET Q q 0 0 0 rg BT 317.83 178.10 Td (the ) Tj ET Q q 0 0 0 rg BT 332.33 178.10 Td (use ) Tj ET Q q 0 0 0 rg BT 347.94 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 364.65 178.10 Td (storage ) Tj ET Q q 0 0 0 rg BT 395.81 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 406.42 178.10 Td (such ) Tj ET Q q 0 0 0 rg BT 427.02 178.10 Td (data, ) Tj ET Q q 0 0 0 rg BT 448.46 178.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 491.01 178.10 Td (but ) Tj ET Q q 0 0 0 rg BT 506.06 178.10 Td (not ) Tj ET Q q 0 0 0 rg BT 521.12 178.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 551.73 178.10 Td (to, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (social ) Tj ET Q q 0 0 0 rg BT 75.46 166.10 Td (security ) Tj ET Q q 0 0 0 rg BT 109.26 166.10 Td (numbers, ) Tj ET Q q 0 0 0 rg BT 148.33 166.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 173.23 166.10 Td (card ) Tj ET Q q 0 0 0 rg BT 192.58 166.10 Td (and ) Tj ET Q q 0 0 0 rg BT 209.15 166.10 Td (banking ) Tj ET Q q 0 0 0 rg BT 243.51 166.10 Td (data. ) Tj ET Q q 0 0 0 rg BT 264.80 166.10 Td ( ) Tj ET Q q 0 0 0 rg BT 266.78 166.10 Td (The ) Tj ET Q q 0 0 0 rg BT 284.47 166.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 331.19 166.10 Td (data ) Tj ET Q q 0 0 0 rg BT 349.98 166.10 Td (systems ) Tj ET Q q 0 0 0 rg BT 383.79 166.10 Td (are ) Tj ET Q q 0 0 0 rg BT 398.13 166.10 Td (vulnerable ) Tj ET Q q 0 0 0 rg BT 442.47 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 452.39 166.10 Td (security ) Tj ET Q q 0 0 0 rg BT 486.18 166.10 Td (breaches ) Tj ET Q q 0 0 0 rg BT 523.29 166.10 Td (due ) Tj ET Q q 0 0 0 rg BT 539.87 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 549.79 166.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (sophistication ) Tj ET Q q 0 0 0 rg BT 107.59 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 117.97 154.10 Td (cyber) Tj ET Q q 0 0 0 rg BT 139.97 154.10 Td (-attacks, ) Tj ET Q q 0 0 0 rg BT 175.61 154.10 Td (viruses, ) Tj ET Q q 0 0 0 rg BT 208.48 154.10 Td (malware, ) Tj ET Q q 0 0 0 rg BT 247.45 154.10 Td (hackers ) Tj ET Q q 0 0 0 rg BT 280.03 154.10 Td (and ) Tj ET Q q 0 0 0 rg BT 296.51 154.10 Td (other ) Tj ET Q q 0 0 0 rg BT 319.10 154.10 Td (external ) Tj ET Q q 0 0 0 rg BT 353.34 154.10 Td (hazards, ) Tj ET Q q 0 0 0 rg BT 388.42 154.10 Td (as ) Tj ET Q q 0 0 0 rg BT 398.80 154.10 Td (well ) Tj ET Q q 0 0 0 rg BT 418.05 154.10 Td (as ) Tj ET Q q 0 0 0 rg BT 428.43 154.10 Td (inadvertent ) Tj ET Q q 0 0 0 rg BT 475.45 154.10 Td (errors, ) Tj ET Q q 0 0 0 rg BT 503.31 154.10 Td (equipment ) Tj ET Q q 0 0 0 rg BT 547.57 154.10 Td (and ) Tj ET Q q 0 0 0 rg BT 564.51 154.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (system ) Tj ET Q q 0 0 0 rg BT 80.83 142.10 Td (failures, ) Tj ET Q q 0 0 0 rg BT 116.36 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 133.84 142.10 Td (employee ) Tj ET Q q 0 0 0 rg BT 175.76 142.10 Td (misconduct. ) Tj ET Q q 0 0 0 rg BT 227.41 142.10 Td ( ) Tj ET Q q 0 0 0 rg BT 230.24 142.10 Td (The ) Tj ET Q q 0 0 0 rg BT 248.83 142.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 290.77 142.10 Td (also ) Tj ET Q q 0 0 0 rg BT 309.92 142.10 Td (relies ) Tj ET Q q 0 0 0 rg BT 334.62 142.10 Td (on ) Tj ET Q q 0 0 0 rg BT 347.67 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.93 142.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 391.53 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.91 142.10 Td (its ) Tj ET Q q 0 0 0 rg BT 415.40 142.10 Td (business ) Tj ET Q q 0 0 0 rg BT 452.34 142.10 Td (partners ) Tj ET Q q 0 0 0 rg BT 487.60 142.10 Td (to ) Tj ET Q q 0 0 0 rg BT 498.42 142.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 536.46 142.10 Td (secure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (systems ) Tj ET Q q 0 0 0 rg BT 84.47 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 101.71 130.10 Td (processes ) Tj ET Q q 0 0 0 rg BT 142.84 130.10 Td (that ) Tj ET Q q 0 0 0 rg BT 160.63 130.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 193.43 130.10 Td (with ) Tj ET Q q 0 0 0 rg BT 214.01 130.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 236.25 130.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 291.25 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 308.50 130.10 Td (protect ) Tj ET Q q 0 0 0 rg BT 339.06 130.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 375.74 130.10 Td (data. ) Tj ET Q q 0 0 0 rg BT 397.70 130.10 Td ( ) Tj ET Q q 0 0 0 rg BT 400.30 130.10 Td (These ) Tj ET Q q 0 0 0 rg BT 426.98 130.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 448.67 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 465.92 130.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 509.81 130.10 Td (requirements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (related ) Tj ET Q q 0 0 0 rg BT 80.80 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 92.17 118.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 129.64 118.10 Td (data ) Tj ET Q q 0 0 0 rg BT 149.89 118.10 Td (security ) Tj ET Q q 0 0 0 rg BT 185.14 118.10 Td (expose ) Tj ET Q q 0 0 0 rg BT 216.50 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 232.31 118.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 274.79 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 286.16 118.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 324.75 118.10 Td (data ) Tj ET Q q 0 0 0 rg BT 345.00 118.10 Td (loss, ) Tj ET Q q 0 0 0 rg BT 366.65 118.10 Td (damage ) Tj ET Q q 0 0 0 rg BT 401.34 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 412.71 118.10 Td (our ) Tj ET Q q 0 0 0 rg BT 429.63 118.10 Td (reputation ) Tj ET Q q 0 0 0 rg BT 473.77 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 491.80 118.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 517.60 118.10 Td (us ) Tj ET Q q 0 0 0 rg BT 530.09 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 541.46 118.10 Td (incur ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 99.45 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 117.25 106.10 Td (litigation ) Tj ET Q q 0 0 0 rg BT 156.71 106.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 182.57 106.10 Td ( ) Tj ET Q q 0 0 0 rg BT 185.93 106.10 Td (In ) Tj ET Q q 0 0 0 rg BT 197.62 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 213.20 106.10 Td (event ) Tj ET Q q 0 0 0 rg BT 238.21 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 249.90 106.10 Td (non-compliance ) Tj ET Q q 0 0 0 rg BT 317.68 106.10 Td (with ) Tj ET Q q 0 0 0 rg BT 338.82 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 354.39 106.10 Td (Payment ) Tj ET Q q 0 0 0 rg BT 392.75 106.10 Td (Card ) Tj ET Q q 0 0 0 rg BT 415.55 106.10 Td (Industry ) Tj ET Q q 0 0 0 rg BT 452.24 106.10 Td (Data ) Tj ET Q q 0 0 0 rg BT 474.47 106.10 Td (Security ) Tj ET Q q 0 0 0 rg BT 511.16 106.10 Td (Standard, ) Tj ET Q q 0 0 0 rg BT 552.56 106.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (information ) Tj ET Q q 0 0 0 rg BT 100.07 94.10 Td (security ) Tj ET Q q 0 0 0 rg BT 134.59 94.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 171.33 94.10 Td (for ) Tj ET Q q 0 0 0 rg BT 185.85 94.10 Td (or) Tj ET Q q 0 0 0 rg BT 194.00 94.10 Td (ganizations ) Tj ET Q q 0 0 0 rg BT 242.40 94.10 Td (that ) Tj ET Q q 0 0 0 rg BT 260.26 94.10 Td (handle ) Tj ET Q q 0 0 0 rg BT 289.78 94.10 Td (cardholder ) Tj ET Q q 0 0 0 rg BT 335.39 94.10 Td (information ) Tj ET Q q 0 0 0 rg BT 385.46 94.10 Td (for ) Tj ET Q q 0 0 0 rg BT 399.99 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 415.06 94.10 Td (major ) Tj ET Q q 0 0 0 rg BT 441.25 94.10 Td (debit, ) Tj ET Q q 0 0 0 rg BT 466.61 94.10 Td (credit, ) Tj ET Q q 0 0 0 rg BT 494.73 94.10 Td (prepaid, ) Tj ET Q q 0 0 0 rg BT 530.08 94.10 Td (e-purse, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.11 82.10 Td (TM ) Tj ET Q q 0 0 0 rg BT 72.69 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 88.71 82.10 Td (point-of-sale ) Tj ET Q q 0 0 0 rg BT 141.39 82.10 Td (cards, ) Tj ET Q q 0 0 0 rg BT 166.57 82.10 Td (such ) Tj ET Q q 0 0 0 rg BT 186.48 82.10 Td (or) Tj ET Q q 0 0 0 rg BT 194.63 82.10 Td (ganizations ) Tj ET Q q 0 0 0 rg BT 241.75 82.10 Td (could ) Tj ET Q q 0 0 0 rg BT 265.55 82.10 Td (prevent ) Tj ET Q q 0 0 0 rg BT 297.12 82.10 Td (our ) Tj ET Q q 0 0 0 rg BT 312.03 82.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 360.83 82.10 Td (from ) Tj ET Q q 0 0 0 rg BT 381.84 82.10 Td (collecting ) Tj ET Q q 0 0 0 rg BT 422.85 82.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 460.54 82.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 500.45 82.10 Td (from ) Tj ET Q q 0 0 0 rg BT 521.46 82.10 Td (customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (by ) Tj ET Q q 0 0 0 rg BT 62.50 70.10 Td (way ) Tj ET Q q 0 0 0 rg BT 81.66 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 92.49 70.10 Td (such ) Tj ET Q q 0 0 0 rg BT 113.32 70.10 Td (cards ) Tj ET Q q 0 0 0 rg BT 136.92 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 153.86 70.10 Td (impose ) Tj ET Q q 0 0 0 rg BT 185.24 70.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 229.96 70.10 Td (fines ) Tj ET Q q 0 0 0 rg BT 251.89 70.10 Td (on ) Tj ET Q q 0 0 0 rg BT 264.39 70.10 Td (our ) Tj ET Q q 0 0 0 rg BT 280.22 70.10 Td (subsidiaries.) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.62 742.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 114.28 742.10 Td (business ) Tj ET Q q 0 0 0 rg BT 150.25 742.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 193.98 742.10 Td (rely ) Tj ET Q q 0 0 0 rg BT 211.60 742.10 Td (on ) Tj ET Q q 0 0 0 rg BT 223.68 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 237.97 742.10 Td (continuous ) Tj ET Q q 0 0 0 rg BT 283.94 742.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 331.00 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 341.41 742.10 Td (its ) Tj ET Q q 0 0 0 rg BT 352.93 742.10 Td (computer ) Tj ET Q q 0 0 0 rg BT 392.77 742.10 Td (systems. ) Tj ET Q q 0 0 0 rg BT 429.02 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 431.09 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 433.17 742.10 Td (In ) Tj ET Q q 0 0 0 rg BT 443.58 742.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 478.43 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 488.28 742.10 Td (disruptions ) Tj ET Q q 0 0 0 rg BT 534.81 742.10 Td (caused ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (by ) Tj ET Q q 0 0 0 rg BT 63.37 730.10 Td (cyber) Tj ET Q q 0 0 0 rg BT 85.38 730.10 Td (-attacks ) Tj ET Q q 0 0 0 rg BT 119.84 730.10 Td (or ) Tj ET Q q 0 0 0 rg BT 131.54 730.10 Td (other ) Tj ET Q q 0 0 0 rg BT 155.45 730.10 Td (data ) Tj ET Q q 0 0 0 rg BT 175.48 730.10 Td (breaches, ) Tj ET Q q 0 0 0 rg BT 216.32 730.10 Td (such ) Tj ET Q q 0 0 0 rg BT 238.02 730.10 Td (systems ) Tj ET Q q 0 0 0 rg BT 273.06 730.10 Td (may ) Tj ET Q q 0 0 0 rg BT 293.65 730.10 Td (be ) Tj ET Q q 0 0 0 rg BT 306.46 730.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 348.14 730.10 Td (af) Tj ET Q q 0 0 0 rg BT 355.73 730.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 383.52 730.10 Td (by ) Tj ET Q q 0 0 0 rg BT 396.89 730.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 428.02 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 445.83 730.10 Td (man-made ) Tj ET Q q 0 0 0 rg BT 491.40 730.10 Td (catastrophes. ) Tj ET Q q 0 0 0 rg BT 546.45 730.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 98.18 718.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 127.87 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 139.25 718.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 177.84 718.10 Td (business ) Tj ET Q q 0 0 0 rg BT 215.33 718.10 Td (continuity ) Tj ET Q q 0 0 0 rg BT 259.48 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 270.85 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 286.67 718.10 Td (wake ) Tj ET Q q 0 0 0 rg BT 311.37 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 323.30 718.10 Td (such ) Tj ET Q q 0 0 0 rg BT 345.22 718.10 Td (events ) Tj ET Q q 0 0 0 rg BT 374.37 718.10 Td (may ) Tj ET Q q 0 0 0 rg BT 395.19 718.10 Td (prevent ) Tj ET Q q 0 0 0 rg BT 428.77 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 444.58 718.10 Td (timely ) Tj ET Q q 0 0 0 rg BT 473.74 718.10 Td (completion ) Tj ET Q q 0 0 0 rg BT 522.32 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 534.25 718.10 Td (critical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (processes ) Tj ET Q q 0 0 0 rg BT 89.84 706.10 Td (across ) Tj ET Q q 0 0 0 rg BT 116.35 706.10 Td (its ) Tj ET Q q 0 0 0 rg BT 127.32 706.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 172.99 706.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 214.79 706.10 Td (but ) Tj ET Q q 0 0 0 rg BT 229.09 706.10 Td (not ) Tj ET Q q 0 0 0 rg BT 243.38 706.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 273.23 706.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 285.03 706.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 324.87 706.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 351.38 706.10 Td (administration, ) Tj ET Q q 0 0 0 rg BT 413.17 706.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 440.80 706.10 Td (processing, ) Tj ET Q q 0 0 0 rg BT 487.58 706.10 Td (billing ) Tj ET Q q 0 0 0 rg BT 515.22 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 531.18 706.10 Td (payroll. ) Tj ET Q q 0 0 0 rg BT 564.50 706.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (These ) Tj ET Q q 0 0 0 rg BT 76.38 694.10 Td (failures ) Tj ET Q q 0 0 0 rg BT 108.86 694.10 Td (could ) Tj ET Q q 0 0 0 rg BT 133.58 694.10 Td (result ) Tj ET Q q 0 0 0 rg BT 158.30 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 168.57 694.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 213.29 694.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 231.35 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 242.18 694.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 281.07 694.10 Td (fines ) Tj ET Q q 0 0 0 rg BT 303.01 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 319.95 694.10 Td (litigation.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 673.10 Td (Strategic ) Tj ET Q q 0 0 0 rg BT 90.82 673.10 Td (Risks) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 649.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 70.07 649.10 Td (geographic ) Tj ET Q q 0 0 0 rg BT 119.57 649.10 Td (concentration ) Tj ET Q q 0 0 0 rg BT 180.18 649.10 Td (ties ) Tj ET Q q 0 0 0 rg BT 197.46 649.10 Td (our ) Tj ET Q q 0 0 0 rg BT 215.31 649.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 271.46 649.10 Td (to ) Tj ET Q q 0 0 0 rg BT 282.63 649.10 Td (the ) Tj ET Q q 0 0 0 rg BT 298.80 649.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 339.71 649.10 Td (economic, ) Tj ET Q q 0 0 0 rg BT 385.03 649.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 431.20 649.10 Td (and ) Tj ET Q q 0 0 0 rg BT 450.16 649.10 Td (other ) Tj ET Q q 0 0 0 rg BT 475.22 649.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 521.40 649.10 Td (of ) Tj ET Q q 0 0 0 rg BT 533.12 649.10 Td (certain ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (states.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (Some ) Tj ET Q q 0 0 0 rg BT 74.80 613.10 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 126.27 613.10 Td (\(including, ) Tj ET Q q 0 0 0 rg BT 171.90 613.10 Td (most ) Tj ET Q q 0 0 0 rg BT 193.37 613.10 Td (notably ) Tj ET Q q 0 0 0 rg BT 225.39 613.10 Td (New ) Tj ET Q q 0 0 0 rg BT 245.99 613.10 Td (Y) Tj ET Q q 0 0 0 rg BT 252.21 613.10 Td (ork, ) Tj ET Q q 0 0 0 rg BT 270.07 613.10 Td (Illinois, ) Tj ET Q q 0 0 0 rg BT 302.93 613.10 Td (Michigan, ) Tj ET Q q 0 0 0 rg BT 345.78 613.10 Td (California, ) Tj ET Q q 0 0 0 rg BT 390.84 613.10 Td (and ) Tj ET Q q 0 0 0 rg BT 407.30 613.10 Td (Minnesota\) ) Tj ET Q q 0 0 0 rg BT 454.88 613.10 Td (generate ) Tj ET Q q 0 0 0 rg BT 490.76 613.10 Td (a ) Tj ET Q q 0 0 0 rg BT 497.22 613.10 Td (more ) Tj ET Q q 0 0 0 rg BT 519.79 613.10 Td (significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 94.66 601.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.35 601.10 Td (our ) Tj ET Q q 0 0 0 rg BT 119.04 601.10 Td (total ) Tj ET Q q 0 0 0 rg BT 138.18 601.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 179.54 601.10 Td (than ) Tj ET Q q 0 0 0 rg BT 198.11 601.10 Td (others. ) Tj ET Q q 0 0 0 rg BT 226.41 601.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 243.33 601.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 280.23 601.10 Td (and ) Tj ET Q q 0 0 0 rg BT 296.03 601.10 Td (profitability ) Tj ET Q q 0 0 0 rg BT 345.16 601.10 Td (are ) Tj ET Q q 0 0 0 rg BT 358.72 601.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 388.41 601.10 Td (to ) Tj ET Q q 0 0 0 rg BT 397.55 601.10 Td (the ) Tj ET Q q 0 0 0 rg BT 411.13 601.10 Td (prevailing ) Tj ET Q q 0 0 0 rg BT 453.03 601.10 Td (regulatory) Tj ET Q q 0 0 0 rg BT 493.48 601.10 Td (, ) Tj ET Q q 0 0 0 rg BT 497.34 601.10 Td (legal, ) Tj ET Q q 0 0 0 rg BT 520.63 601.10 Td (economic, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.10 Td (political, ) Tj ET Q q 0 0 0 rg BT 87.46 589.10 Td (demographic, ) Tj ET Q q 0 0 0 rg BT 144.34 589.10 Td (competitive, ) Tj ET Q q 0 0 0 rg BT 196.24 589.10 Td (weather ) Tj ET Q q 0 0 0 rg BT 230.07 589.10 Td (and ) Tj ET Q q 0 0 0 rg BT 246.69 589.10 Td (other ) Tj ET Q q 0 0 0 rg BT 269.43 589.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 313.28 589.10 Td (in ) Tj ET Q q 0 0 0 rg BT 323.24 589.10 Td (the ) Tj ET Q q 0 0 0 rg BT 337.65 589.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 375.38 589.10 Td (states ) Tj ET Q q 0 0 0 rg BT 399.78 589.10 Td (in ) Tj ET Q q 0 0 0 rg BT 409.74 589.10 Td (which ) Tj ET Q q 0 0 0 rg BT 436.37 589.10 Td (we ) Tj ET Q q 0 0 0 rg BT 450.22 589.10 Td (do ) Tj ET Q q 0 0 0 rg BT 462.40 589.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 500.98 589.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 537.61 589.10 Td (in ) Tj ET Q q 0 0 0 rg BT 547.57 589.10 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 577.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.77 577.10 Td (these ) Tj ET Q q 0 0 0 rg BT 83.76 577.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 127.87 577.10 Td (could ) Tj ET Q q 0 0 0 rg BT 152.53 577.10 Td (make ) Tj ET Q q 0 0 0 rg BT 176.63 577.10 Td (it ) Tj ET Q q 0 0 0 rg BT 184.63 577.10 Td (less ) Tj ET Q q 0 0 0 rg BT 202.08 577.10 Td (attractive ) Tj ET Q q 0 0 0 rg BT 241.72 577.10 Td (for ) Tj ET Q q 0 0 0 rg BT 255.82 577.10 Td (us ) Tj ET Q q 0 0 0 rg BT 267.16 577.10 Td (to ) Tj ET Q q 0 0 0 rg BT 277.38 577.10 Td (do ) Tj ET Q q 0 0 0 rg BT 289.82 577.10 Td (business ) Tj ET Q q 0 0 0 rg BT 326.16 577.10 Td (in ) Tj ET Q q 0 0 0 rg BT 336.38 577.10 Td (such ) Tj ET Q q 0 0 0 rg BT 357.16 577.10 Td (states ) Tj ET Q q 0 0 0 rg BT 381.82 577.10 Td (and ) Tj ET Q q 0 0 0 rg BT 398.70 577.10 Td (would ) Tj ET Q q 0 0 0 rg BT 426.14 577.10 Td (have ) Tj ET Q q 0 0 0 rg BT 447.46 577.10 Td (a ) Tj ET Q q 0 0 0 rg BT 454.35 577.10 Td (more ) Tj ET Q q 0 0 0 rg BT 477.34 577.10 Td (pronounced ) Tj ET Q q 0 0 0 rg BT 526.99 577.10 Td (ef) Tj ET Q q 0 0 0 rg BT 534.58 577.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 552.00 577.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 565.10 Td (us ) Tj ET Q q 0 0 0 rg BT 62.12 565.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 104.78 565.10 Td (to ) Tj ET Q q 0 0 0 rg BT 115.79 565.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 161.79 565.10 Td (that ) Tj ET Q q 0 0 0 rg BT 180.01 565.10 Td (are ) Tj ET Q q 0 0 0 rg BT 195.45 565.10 Td (more ) Tj ET Q q 0 0 0 rg BT 219.23 565.10 Td (geographically ) Tj ET Q q 0 0 0 rg BT 281.88 565.10 Td (diversified. ) Tj ET Q q 0 0 0 rg BT 330.38 565.10 Td (In ) Tj ET Q q 0 0 0 rg BT 341.94 565.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 380.45 565.10 Td (our ) Tj ET Q q 0 0 0 rg BT 397.01 565.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 436.34 565.10 Td (to ) Tj ET Q q 0 0 0 rg BT 447.35 565.10 Td (severe ) Tj ET Q q 0 0 0 rg BT 476.12 565.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 503.25 565.10 Td (from ) Tj ET Q q 0 0 0 rg BT 525.92 565.10 Td (localized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 553.10 Td (perils, ) Tj ET Q q 0 0 0 rg BT 77.11 553.10 Td (such ) Tj ET Q q 0 0 0 rg BT 97.84 553.10 Td (as ) Tj ET Q q 0 0 0 rg BT 108.57 553.10 Td (earthquakes, ) Tj ET Q q 0 0 0 rg BT 161.22 553.10 Td (hurricanes, ) Tj ET Q q 0 0 0 rg BT 207.76 553.10 Td (tropical ) Tj ET Q q 0 0 0 rg BT 240.70 553.10 Td (storms, ) Tj ET Q q 0 0 0 rg BT 272.26 553.10 Td (tornadoes, ) Tj ET Q q 0 0 0 rg BT 316.04 553.10 Td (wind, ) Tj ET Q q 0 0 0 rg BT 340.93 553.10 Td (ice ) Tj ET Q q 0 0 0 rg BT 354.99 553.10 Td (storms, ) Tj ET Q q 0 0 0 rg BT 386.55 553.10 Td (hail, ) Tj ET Q q 0 0 0 rg BT 406.44 553.10 Td (fires, ) Tj ET Q q 0 0 0 rg BT 429.11 553.10 Td (terrorism, ) Tj ET Q q 0 0 0 rg BT 470.66 553.10 Td (riots ) Tj ET Q q 0 0 0 rg BT 490.83 553.10 Td (and ) Tj ET Q q 0 0 0 rg BT 507.67 553.10 Td (explosions, ) Tj ET Q q 0 0 0 rg BT 555.34 553.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 541.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 89.17 541.10 Td (in ) Tj ET Q q 0 0 0 rg BT 98.37 541.10 Td (those ) Tj ET Q q 0 0 0 rg BT 120.89 541.10 Td (areas ) Tj ET Q q 0 0 0 rg BT 142.85 541.10 Td (where ) Tj ET Q q 0 0 0 rg BT 168.69 541.10 Td (we ) Tj ET Q q 0 0 0 rg BT 181.77 541.10 Td (have ) Tj ET Q q 0 0 0 rg BT 202.07 541.10 Td (written ) Tj ET Q q 0 0 0 rg BT 231.81 541.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 275.44 541.10 Td (numbers ) Tj ET Q q 0 0 0 rg BT 311.29 541.10 Td (of ) Tj ET Q q 0 0 0 rg BT 321.04 541.10 Td (P&C ) Tj ET Q q 0 0 0 rg BT 342.47 541.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 382.20 541.10 Td (policies. ) Tj ET Q q 0 0 0 rg BT 417.22 541.10 Td ( ) Tj ET Q q 0 0 0 rg BT 418.64 541.10 Td (Given ) Tj ET Q q 0 0 0 rg BT 444.50 541.10 Td (our ) Tj ET Q q 0 0 0 rg BT 459.24 541.10 Td (geographic ) Tj ET Q q 0 0 0 rg BT 505.08 541.10 Td (concentration, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 529.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 86.89 529.10 Td (publicity ) Tj ET Q q 0 0 0 rg BT 125.46 529.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 166.79 529.10 Td (our ) Tj ET Q q 0 0 0 rg BT 183.14 529.10 Td (products ) Tj ET Q q 0 0 0 rg BT 220.59 529.10 Td (and ) Tj ET Q q 0 0 0 rg BT 238.05 529.10 Td (services ) Tj ET Q q 0 0 0 rg BT 273.27 529.10 Td (could ) Tj ET Q q 0 0 0 rg BT 298.50 529.10 Td (have ) Tj ET Q q 0 0 0 rg BT 320.40 529.10 Td (a ) Tj ET Q q 0 0 0 rg BT 327.85 529.10 Td (material ) Tj ET Q q 0 0 0 rg BT 363.63 529.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 397.18 529.10 Td (ef) Tj ET Q q 0 0 0 rg BT 404.77 529.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 422.77 529.10 Td (on ) Tj ET Q q 0 0 0 rg BT 435.79 529.10 Td (our ) Tj ET Q q 0 0 0 rg BT 452.13 529.10 Td (business ) Tj ET Q q 0 0 0 rg BT 489.04 529.10 Td (and ) Tj ET Q q 0 0 0 rg BT 506.50 529.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 553.67 529.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 517.10 Td (could ) Tj ET Q q 0 0 0 rg BT 74.72 517.10 Td (other ) Tj ET Q q 0 0 0 rg BT 97.76 517.10 Td (regional ) Tj ET Q q 0 0 0 rg BT 133.03 517.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 162.73 517.10 Td (impacting ) Tj ET Q q 0 0 0 rg BT 205.22 517.10 Td (the ) Tj ET Q q 0 0 0 rg BT 219.94 517.10 Td (local ) Tj ET Q q 0 0 0 rg BT 241.88 517.10 Td (economies ) Tj ET Q q 0 0 0 rg BT 287.14 517.10 Td (in ) Tj ET Q q 0 0 0 rg BT 297.42 517.10 Td (that ) Tj ET Q q 0 0 0 rg BT 314.91 517.10 Td (market.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 493.10 Td (In ) Tj ET Q q 0 0 0 rg BT 62.26 493.10 Td (order ) Tj ET Q q 0 0 0 rg BT 87.29 493.10 Td (to ) Tj ET Q q 0 0 0 rg BT 97.88 493.10 Td (operate ) Tj ET Q q 0 0 0 rg BT 131.24 493.10 Td (in ) Tj ET Q q 0 0 0 rg BT 142.39 493.10 Td (a ) Tj ET Q q 0 0 0 rg BT 150.20 493.10 Td (profitable ) Tj ET Q q 0 0 0 rg BT 193.01 493.10 Td (manner) Tj ET Q q 0 0 0 rg BT 224.69 493.10 Td (, ) Tj ET Q q 0 0 0 rg BT 230.00 493.10 Td (we ) Tj ET Q q 0 0 0 rg BT 243.91 493.10 Td (need ) Tj ET Q q 0 0 0 rg BT 266.16 493.10 Td (to ) Tj ET Q q 0 0 0 rg BT 276.75 493.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 316.80 493.10 Td (or ) Tj ET Q q 0 0 0 rg BT 328.50 493.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 365.75 493.10 Td (our ) Tj ET Q q 0 0 0 rg BT 383.01 493.10 Td (current ) Tj ET Q q 0 0 0 rg BT 416.38 493.10 Td (level ) Tj ET Q q 0 0 0 rg BT 438.06 493.10 Td (of ) Tj ET Q q 0 0 0 rg BT 449.20 493.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 480.34 493.10 Td (premiums. ) Tj ET Q q 0 0 0 rg BT 526.77 493.10 Td ( ) Tj ET Q q 0 0 0 rg BT 529.38 493.10 Td (W) Tj ET Q q 0 0 0 rg BT 537.53 493.10 Td (e ) Tj ET Q q 0 0 0 rg BT 544.78 493.10 Td (may ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 98.09 481.10 Td (dif) Tj ET Q q 0 0 0 rg BT 109.02 481.10 Td (ficulty ) Tj ET Q q 0 0 0 rg BT 138.80 481.10 Td (in ) Tj ET Q q 0 0 0 rg BT 150.81 481.10 Td (managing ) Tj ET Q q 0 0 0 rg BT 196.16 481.10 Td (historic ) Tj ET Q q 0 0 0 rg BT 230.95 481.10 Td (and ) Tj ET Q q 0 0 0 rg BT 250.18 481.10 Td (future ) Tj ET Q q 0 0 0 rg BT 279.41 481.10 Td (growth, ) Tj ET Q q 0 0 0 rg BT 314.48 481.10 Td (which ) Tj ET Q q 0 0 0 rg BT 343.17 481.10 Td (could ) Tj ET Q q 0 0 0 rg BT 369.61 481.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 411.60 481.10 Td (af) Tj ET Q q 0 0 0 rg BT 419.75 481.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 438.41 481.10 Td (our ) Tj ET Q q 0 0 0 rg BT 456.53 481.10 Td (results ) Tj ET Q q 0 0 0 rg BT 487.43 481.10 Td (of ) Tj ET Q q 0 0 0 rg BT 499.43 481.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 546.44 481.10 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 89.73 469.10 Td (condition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 445.10 Td (e ) Tj ET Q q 0 0 0 rg BT 66.14 445.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 98.08 445.10 Td (that, ) Tj ET Q q 0 0 0 rg BT 118.64 445.10 Td (given ) Tj ET Q q 0 0 0 rg BT 143.93 445.10 Td (our ) Tj ET Q q 0 0 0 rg BT 160.32 445.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 183.94 445.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 207.00 445.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 251.16 445.10 Td (with ) Tj ET Q q 0 0 0 rg BT 272.01 445.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 326.73 445.10 Td (and ) Tj ET Q q 0 0 0 rg BT 344.23 445.10 Td (administering ) Tj ET Q q 0 0 0 rg BT 402.29 445.10 Td (our ) Tj ET Q q 0 0 0 rg BT 418.69 445.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 460.07 445.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 507.29 445.10 Td (our ) Tj ET Q q 0 0 0 rg BT 523.69 445.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 99.97 433.10 Td (must ) Tj ET Q q 0 0 0 rg BT 122.17 433.10 Td (generate ) Tj ET Q q 0 0 0 rg BT 158.79 433.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 188.20 433.10 Td (net ) Tj ET Q q 0 0 0 rg BT 203.17 433.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 232.57 433.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 275.32 433.10 Td (in ) Tj ET Q q 0 0 0 rg BT 285.85 433.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 314.70 433.10 Td (of ) Tj ET Q q 0 0 0 rg BT 325.79 433.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 386.30 433.10 Td ($50 ) Tj ET Q q 0 0 0 rg BT 404.05 433.10 Td (million ) Tj ET Q q 0 0 0 rg BT 435.70 433.10 Td (in ) Tj ET Q q 0 0 0 rg BT 446.23 433.10 Td (order ) Tj ET Q q 0 0 0 rg BT 470.08 433.10 Td (to ) Tj ET Q q 0 0 0 rg BT 480.62 433.10 Td (achieve ) Tj ET Q q 0 0 0 rg BT 513.90 433.10 Td (our ) Tj ET Q q 0 0 0 rg BT 529.99 433.10 Td (tar) Tj ET Q q 0 0 0 rg BT 540.35 433.10 Td (geted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 75.97 421.10 Td (of ) Tj ET Q q 0 0 0 rg BT 86.94 421.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 134.06 421.10 Td (. ) Tj ET Q q 0 0 0 rg BT 139.20 421.10 Td ( ) Tj ET Q q 0 0 0 rg BT 141.84 421.10 Td (In ) Tj ET Q q 0 0 0 rg BT 152.81 421.10 Td (order ) Tj ET Q q 0 0 0 rg BT 176.55 421.10 Td (to ) Tj ET Q q 0 0 0 rg BT 186.97 421.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 224.60 421.10 Td (and ) Tj ET Q q 0 0 0 rg BT 241.68 421.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 277.08 421.10 Td (this ) Tj ET Q q 0 0 0 rg BT 294.17 421.10 Td (level ) Tj ET Q q 0 0 0 rg BT 316.25 421.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.22 421.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 356.50 421.10 Td (premiums, ) Tj ET Q q 0 0 0 rg BT 401.64 421.10 Td (we ) Tj ET Q q 0 0 0 rg BT 415.94 421.10 Td (intend ) Tj ET Q q 0 0 0 rg BT 443.58 421.10 Td (to ) Tj ET Q q 0 0 0 rg BT 454.00 421.10 Td (expand ) Tj ET Q q 0 0 0 rg BT 485.52 421.10 Td (geographically ) Tj ET Q q 0 0 0 rg BT 547.58 421.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 86.95 409.10 Td (our ) Tj ET Q q 0 0 0 rg BT 104.48 409.10 Td (market ) Tj ET Q q 0 0 0 rg BT 136.44 409.10 Td (share ) Tj ET Q q 0 0 0 rg BT 161.73 409.10 Td (via ) Tj ET Q q 0 0 0 rg BT 178.15 409.10 Td (our ) Tj ET Q q 0 0 0 rg BT 195.67 409.10 Td (expanded ) Tj ET Q q 0 0 0 rg BT 238.19 409.10 Td (distribution ) Tj ET Q q 0 0 0 rg BT 288.50 409.10 Td (network. ) Tj ET Q q 0 0 0 rg BT 327.96 409.10 Td (Continued ) Tj ET Q q 0 0 0 rg BT 373.82 409.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 406.35 409.10 Td (could ) Tj ET Q q 0 0 0 rg BT 432.76 409.10 Td (impose ) Tj ET Q q 0 0 0 rg BT 465.85 409.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 512.26 409.10 Td (demands ) Tj ET Q q 0 0 0 rg BT 552.00 409.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (management, ) Tj ET Q q 0 0 0 rg BT 105.88 397.10 Td (including ) Tj ET Q q 0 0 0 rg BT 145.94 397.10 Td (the ) Tj ET Q q 0 0 0 rg BT 160.45 397.10 Td (need ) Tj ET Q q 0 0 0 rg BT 181.62 397.10 Td (to ) Tj ET Q q 0 0 0 rg BT 191.68 397.10 Td (identify) Tj ET Q q 0 0 0 rg BT 222.14 397.10 Td (, ) Tj ET Q q 0 0 0 rg BT 226.93 397.10 Td (recruit, ) Tj ET Q q 0 0 0 rg BT 257.81 397.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 295.09 397.10 Td (and ) Tj ET Q q 0 0 0 rg BT 311.82 397.10 Td (integrate ) Tj ET Q q 0 0 0 rg BT 349.09 397.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 391.37 397.10 Td (employees. ) Tj ET Q q 0 0 0 rg BT 438.93 397.10 Td (Growth ) Tj ET Q q 0 0 0 rg BT 471.77 397.10 Td (may ) Tj ET Q q 0 0 0 rg BT 491.27 397.10 Td (also ) Tj ET Q q 0 0 0 rg BT 509.67 397.10 Td (place ) Tj ET Q q 0 0 0 rg BT 533.06 397.10 Td (a ) Tj ET Q q 0 0 0 rg BT 539.79 397.10 Td (strain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.51 385.10 Td (management ) Tj ET Q q 0 0 0 rg BT 116.11 385.10 Td (systems ) Tj ET Q q 0 0 0 rg BT 150.30 385.10 Td (and ) Tj ET Q q 0 0 0 rg BT 167.25 385.10 Td (operational ) Tj ET Q q 0 0 0 rg BT 214.74 385.10 Td (and ) Tj ET Q q 0 0 0 rg BT 231.69 385.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 269.18 385.10 Td (resources, ) Tj ET Q q 0 0 0 rg BT 311.95 385.10 Td (and ) Tj ET Q q 0 0 0 rg BT 328.90 385.10 Td (such ) Tj ET Q q 0 0 0 rg BT 349.75 385.10 Td (systems, ) Tj ET Q q 0 0 0 rg BT 386.43 385.10 Td (procedures ) Tj ET Q q 0 0 0 rg BT 432.81 385.10 Td (and ) Tj ET Q q 0 0 0 rg BT 449.76 385.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 482.81 385.10 Td (controls ) Tj ET Q q 0 0 0 rg BT 517.54 385.10 Td (may ) Tj ET Q q 0 0 0 rg BT 537.27 385.10 Td (not ) Tj ET Q q 0 0 0 rg BT 552.56 385.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (adequate ) Tj ET Q q 0 0 0 rg BT 88.03 373.10 Td (to ) Tj ET Q q 0 0 0 rg BT 98.31 373.10 Td (support ) Tj ET Q q 0 0 0 rg BT 130.81 373.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 174.97 373.10 Td (as ) Tj ET Q q 0 0 0 rg BT 185.80 373.10 Td (they ) Tj ET Q q 0 0 0 rg BT 205.51 373.10 Td (expand. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.26 349.10 Td (integration ) Tj ET Q q 0 0 0 rg BT 112.29 349.10 Td (and ) Tj ET Q q 0 0 0 rg BT 128.44 349.10 Td (management ) Tj ET Q q 0 0 0 rg BT 181.25 349.10 Td (of ) Tj ET Q q 0 0 0 rg BT 191.29 349.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 227.43 349.10 Td (books ) Tj ET Q q 0 0 0 rg BT 253.03 349.10 Td (of ) Tj ET Q q 0 0 0 rg BT 263.07 349.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 301.18 349.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 337.31 349.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 381.25 349.10 Td (and ) Tj ET Q q 0 0 0 rg BT 397.40 349.10 Td (other ) Tj ET Q q 0 0 0 rg BT 419.66 349.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 449.70 349.10 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 490.85 349.10 Td (involve ) Tj ET Q q 0 0 0 rg BT 522.56 349.10 Td (numerous ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 71.39 337.10 Td (that ) Tj ET Q q 0 0 0 rg BT 88.89 337.10 Td (could ) Tj ET Q q 0 0 0 rg BT 113.60 337.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 154.42 337.10 Td (af) Tj ET Q q 0 0 0 rg BT 162.01 337.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 179.49 337.10 Td (our ) Tj ET Q q 0 0 0 rg BT 195.32 337.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 242.44 337.10 Td (, ) Tj ET Q q 0 0 0 rg BT 247.44 337.10 Td (and ) Tj ET Q q 0 0 0 rg BT 264.38 337.10 Td (are ) Tj ET Q q 0 0 0 rg BT 279.09 337.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 323.80 337.10 Td (on ) Tj ET Q q 0 0 0 rg BT 336.30 337.10 Td (many ) Tj ET Q q 0 0 0 rg BT 361.02 337.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 393.22 337.10 Td (including:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 313.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 313.10 Td (expanding ) Tj ET Q q 0 0 0 rg BT 166.16 313.10 Td (our ) Tj ET Q q 0 0 0 rg BT 181.99 313.10 Td (financial, ) Tj ET Q q 0 0 0 rg BT 221.97 313.10 Td (operational ) Tj ET Q q 0 0 0 rg BT 269.45 313.10 Td (and ) Tj ET Q q 0 0 0 rg BT 286.38 313.10 Td (management ) Tj ET Q q 0 0 0 rg BT 339.97 313.10 Td (information ) Tj ET Q q 0 0 0 rg BT 389.69 313.10 Td (systems;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 301.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 301.10 Td (managing ) Tj ET Q q 0 0 0 rg BT 166.52 301.10 Td (our ) Tj ET Q q 0 0 0 rg BT 184.94 301.10 Td (relationships ) Tj ET Q q 0 0 0 rg BT 241.13 301.10 Td (with ) Tj ET Q q 0 0 0 rg BT 263.99 301.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 317.95 301.10 Td (agents, ) Tj ET Q q 0 0 0 rg BT 351.08 301.10 Td (brokers, ) Tj ET Q q 0 0 0 rg BT 388.66 301.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.18 301.10 Td (legacy ) Tj ET Q q 0 0 0 rg BT 439.36 301.10 Td (program ) Tj ET Q q 0 0 0 rg BT 478.32 301.10 Td (managers, ) Tj ET Q q 0 0 0 rg BT 524.22 301.10 Td (including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 289.10 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 172.27 289.10 Td (adequate ) Tj ET Q q 0 0 0 rg BT 210.30 289.10 Td (controls;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 277.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 277.10 Td (expanding ) Tj ET Q q 0 0 0 rg BT 166.16 277.10 Td (our ) Tj ET Q q 0 0 0 rg BT 181.99 277.10 Td (executive ) Tj ET Q q 0 0 0 rg BT 222.80 277.10 Td (management ) Tj ET Q q 0 0 0 rg BT 276.38 277.10 Td (and ) Tj ET Q q 0 0 0 rg BT 293.32 277.10 Td (the ) Tj ET Q q 0 0 0 rg BT 308.04 277.10 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 364.40 277.10 Td (required ) Tj ET Q q 0 0 0 rg BT 400.22 277.10 Td (to ) Tj ET Q q 0 0 0 rg BT 410.50 277.10 Td (ef) Tj ET Q q 0 0 0 rg BT 418.08 277.10 Td (fectively ) Tj ET Q q 0 0 0 rg BT 455.56 277.10 Td (control ) Tj ET Q q 0 0 0 rg BT 486.39 277.10 Td (our ) Tj ET Q q 0 0 0 rg BT 502.22 277.10 Td (growth;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 265.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 265.10 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 172.27 265.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 201.99 265.10 Td (for ) Tj ET Q q 0 0 0 rg BT 216.15 265.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 245.85 265.10 Td (of ) Tj ET Q q 0 0 0 rg BT 256.68 265.10 Td (our ) Tj ET Q q 0 0 0 rg BT 272.51 265.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 313.32 265.10 Td (subsidiaries;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 253.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 253.10 Td (increasing ) Tj ET Q q 0 0 0 rg BT 165.59 253.10 Td (the ) Tj ET Q q 0 0 0 rg BT 180.31 253.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 217.81 253.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 246.96 253.10 Td (of ) Tj ET Q q 0 0 0 rg BT 257.79 253.10 Td (our ) Tj ET Q q 0 0 0 rg BT 273.62 253.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 314.43 253.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 364.15 253.10 Td (to ) Tj ET Q q 0 0 0 rg BT 374.43 253.10 Td (support ) Tj ET Q q 0 0 0 rg BT 406.93 253.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 437.76 253.10 Td (in ) Tj ET Q q 0 0 0 rg BT 448.04 253.10 Td (written ) Tj ET Q q 0 0 0 rg BT 478.86 253.10 Td (premiums;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 241.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 241.10 Td (accurately ) Tj ET Q q 0 0 0 rg BT 166.64 241.10 Td (setting ) Tj ET Q q 0 0 0 rg BT 196.86 241.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 226.52 241.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 271.75 241.10 Td (for ) Tj ET Q q 0 0 0 rg BT 286.96 241.10 Td (new ) Tj ET Q q 0 0 0 rg BT 307.18 241.10 Td (business ) Tj ET Q q 0 0 0 rg BT 344.63 241.10 Td (where ) Tj ET Q q 0 0 0 rg BT 372.62 241.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 413.38 241.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 468.60 241.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 515.45 241.10 Td (may ) Tj ET Q q 0 0 0 rg BT 536.23 241.10 Td (not ) Tj ET Q q 0 0 0 rg BT 552.56 241.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 229.10 Td (available;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 217.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 217.10 Td (obtaining ) Tj ET Q q 0 0 0 rg BT 162.27 217.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 205.87 217.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 243.35 217.10 Td (for ) Tj ET Q q 0 0 0 rg BT 257.51 217.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 305.54 217.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 344.15 217.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 365.53 217.10 Td (where ) Tj ET Q q 0 0 0 rg BT 392.45 217.10 Td (applicable; ) Tj ET Q q 0 0 0 rg BT 438.82 217.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 205.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 205.10 Td (obtaining ) Tj ET Q q 0 0 0 rg BT 162.38 205.10 Td (the ) Tj ET Q q 0 0 0 rg BT 177.19 205.10 Td (required ) Tj ET Q q 0 0 0 rg BT 213.11 205.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 256.81 205.10 Td (approvals ) Tj ET Q q 0 0 0 rg BT 298.28 205.10 Td (to ) Tj ET Q q 0 0 0 rg BT 308.66 205.10 Td (of) Tj ET Q q 0 0 0 rg BT 316.81 205.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 330.51 205.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 373.11 205.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 414.02 205.10 Td (products ) Tj ET Q q 0 0 0 rg BT 451.06 205.10 Td (or ) Tj ET Q q 0 0 0 rg BT 461.99 205.10 Td (to ) Tj ET Q q 0 0 0 rg BT 472.37 205.10 Td (expand ) Tj ET Q q 0 0 0 rg BT 503.85 205.10 Td (into ) Tj ET Q q 0 0 0 rg BT 522.01 205.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 193.10 Td (states ) Tj ET Q q 0 0 0 rg BT 146.72 193.10 Td (or ) Tj ET Q q 0 0 0 rg BT 157.55 193.10 Td (other ) Tj ET Q q 0 0 0 rg BT 180.59 193.10 Td (jurisdictions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.43 169.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 95.41 169.10 Td (to ) Tj ET Q q 0 0 0 rg BT 105.07 169.10 Td (grow ) Tj ET Q q 0 0 0 rg BT 127.50 169.10 Td (our ) Tj ET Q q 0 0 0 rg BT 142.71 169.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 171.24 169.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 213.12 169.10 Td (or ) Tj ET Q q 0 0 0 rg BT 223.33 169.10 Td (to ) Tj ET Q q 0 0 0 rg BT 232.99 169.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 265.96 169.10 Td (our ) Tj ET Q q 0 0 0 rg BT 281.17 169.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 311.38 169.10 Td (ef) Tj ET Q q 0 0 0 rg BT 318.97 169.10 Td (fectively ) Tj ET Q q 0 0 0 rg BT 355.83 169.10 Td (could ) Tj ET Q q 0 0 0 rg BT 379.93 169.10 Td (have ) Tj ET Q q 0 0 0 rg BT 400.69 169.10 Td (a ) Tj ET Q q 0 0 0 rg BT 407.01 169.10 Td (material ) Tj ET Q q 0 0 0 rg BT 441.65 169.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 474.07 169.10 Td (ef) Tj ET Q q 0 0 0 rg BT 481.66 169.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 498.52 169.10 Td (on ) Tj ET Q q 0 0 0 rg BT 510.41 169.10 Td (our ) Tj ET Q q 0 0 0 rg BT 525.62 169.10 Td (business, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.48 157.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 127.75 157.10 Td (or ) Tj ET Q q 0 0 0 rg BT 138.58 157.10 Td (results ) Tj ET Q q 0 0 0 rg BT 167.19 157.10 Td (of ) Tj ET Q q 0 0 0 rg BT 178.02 157.10 Td (operations.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.12 133.10 Td ( ) Tj ET Q q 0 0 0 rg BT 58.91 133.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 105.59 133.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 138.39 133.10 Td (of ) Tj ET Q q 0 0 0 rg BT 149.51 133.10 Td (our ) Tj ET Q q 0 0 0 rg BT 166.75 133.10 Td (products ) Tj ET Q q 0 0 0 rg BT 205.10 133.10 Td (in ) Tj ET Q q 0 0 0 rg BT 216.23 133.10 Td (the ) Tj ET Q q 0 0 0 rg BT 231.79 133.10 Td (New ) Tj ET Q q 0 0 0 rg BT 252.71 133.10 Td (Y) Tj ET Q q 0 0 0 rg BT 257.71 133.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 274.39 133.10 Td (City ) Tj ET Q q 0 0 0 rg BT 293.84 133.10 Td (market ) Tj ET Q q 0 0 0 rg BT 325.52 133.10 Td (are ) Tj ET Q q 0 0 0 rg BT 341.63 133.10 Td (distributed ) Tj ET Q q 0 0 0 rg BT 388.32 133.10 Td (by ) Tj ET Q q 0 0 0 rg BT 400.55 133.10 Td (a ) Tj ET Q q 0 0 0 rg BT 408.33 133.10 Td (single ) Tj ET Q q 0 0 0 rg BT 435.57 133.10 Td (agent, ) Tj ET Q q 0 0 0 rg BT 463.64 133.10 Td (and ) Tj ET Q q 0 0 0 rg BT 481.99 133.10 Td (any ) Tj ET Q q 0 0 0 rg BT 499.77 133.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 538.10 133.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.23 133.10 Td (the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 83.86 121.10 Td (of ) Tj ET Q q 0 0 0 rg BT 94.37 121.10 Td (our ) Tj ET Q q 0 0 0 rg BT 111.01 121.10 Td (products ) Tj ET Q q 0 0 0 rg BT 148.75 121.10 Td (distributed ) Tj ET Q q 0 0 0 rg BT 194.83 121.10 Td (by ) Tj ET Q q 0 0 0 rg BT 206.45 121.10 Td (this ) Tj ET Q q 0 0 0 rg BT 223.64 121.10 Td (agent, ) Tj ET Q q 0 0 0 rg BT 251.10 121.10 Td (or ) Tj ET Q q 0 0 0 rg BT 262.17 121.10 Td (under ) Tj ET Q q 0 0 0 rg BT 288.81 121.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 343.76 121.10 Td (of ) Tj ET Q q 0 0 0 rg BT 354.27 121.10 Td (the ) Tj ET Q q 0 0 0 rg BT 369.23 121.10 Td (book ) Tj ET Q q 0 0 0 rg BT 391.41 121.10 Td (of ) Tj ET Q q 0 0 0 rg BT 401.92 121.10 Td (business ) Tj ET Q q 0 0 0 rg BT 439.12 121.10 Td (controlled ) Tj ET Q q 0 0 0 rg BT 482.97 121.10 Td (by ) Tj ET Q q 0 0 0 rg BT 494.59 121.10 Td (this ) Tj ET Q q 0 0 0 rg BT 511.78 121.10 Td (agent, ) Tj ET Q q 0 0 0 rg BT 539.24 121.10 Td (could ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 109.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 90.82 109.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 121.09 109.10 Td (our ) Tj ET Q q 0 0 0 rg BT 138.04 109.10 Td (business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.37 85.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.62 85.10 Td (third ) Tj ET Q q 0 0 0 rg BT 95.55 85.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 125.90 85.10 Td (of ) Tj ET Q q 0 0 0 rg BT 136.27 85.10 Td (2012, ) Tj ET Q q 0 0 0 rg BT 160.81 85.10 Td (we ) Tj ET Q q 0 0 0 rg BT 174.51 85.10 Td (implemented ) Tj ET Q q 0 0 0 rg BT 228.75 85.10 Td (our ) Tj ET Q q 0 0 0 rg BT 244.12 85.10 Td (New ) Tj ET Q q 0 0 0 rg BT 264.74 85.10 Td (Y) Tj ET Q q 0 0 0 rg BT 270.96 85.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 286.33 85.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 318.91 85.10 Td (taxi ) Tj ET Q q 0 0 0 rg BT 335.94 85.10 Td (program ) Tj ET Q q 0 0 0 rg BT 376.29 85.10 Td (with ) Tj ET Q q 0 0 0 rg BT 396.11 85.10 Td (a ) Tj ET Q q 0 0 0 rg BT 402.59 85.10 Td (single ) Tj ET Q q 0 0 0 rg BT 428.51 85.10 Td (agent ) Tj ET Q q 0 0 0 rg BT 452.21 85.10 Td (writing ) Tj ET Q q 0 0 0 rg BT 483.13 85.10 Td (business ) Tj ET Q q 0 0 0 rg BT 519.06 85.10 Td (in ) Tj ET Q q 0 0 0 rg BT 528.88 85.10 Td (the ) Tj ET Q q 0 0 0 rg BT 543.13 85.10 Td (New ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.10 Td (Y) Tj ET Q q 0 0 0 rg BT 56.22 73.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 72.35 73.10 Td (City ) Tj ET Q q 0 0 0 rg BT 92.37 73.10 Td (market, ) Tj ET Q q 0 0 0 rg BT 125.43 73.10 Td (which ) Tj ET Q q 0 0 0 rg BT 152.67 73.10 Td (is ) Tj ET Q q 0 0 0 rg BT 162.13 73.10 Td (a ) Tj ET Q q 0 0 0 rg BT 169.37 73.10 Td (business ) Tj ET Q q 0 0 0 rg BT 206.06 73.10 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 258.83 73.10 Td (to ) Tj ET Q q 0 0 0 rg BT 269.40 73.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 302.74 73.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 331.64 73.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 370.52 73.10 Td (above ) Tj ET Q q 0 0 0 rg BT 397.19 73.10 Td (the ) Tj ET Q q 0 0 0 rg BT 412.21 73.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 438.33 73.10 Td (of ) Tj ET Q q 0 0 0 rg BT 449.46 73.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 467.25 73.10 Td (retained ) Tj ET Q q 0 0 0 rg BT 502.25 73.10 Td (by ) Tj ET Q q 0 0 0 rg BT 515.05 73.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.06 73.10 Td (insured. ) Tj ET Q q 0 0 0 rg BT 564.50 73.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.10 Td (This ) Tj ET Q q 0 0 0 rg BT 70.34 61.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 98.99 61.10 Td (taxi ) Tj ET Q q 0 0 0 rg BT 116.55 61.10 Td (program ) Tj ET Q q 0 0 0 rg BT 152.98 61.10 Td (has ) Tj ET Q q 0 0 0 rg BT 168.87 61.10 Td (an ) Tj ET Q q 0 0 0 rg BT 180.87 61.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 210.08 61.10 Td (renewal ) Tj ET Q q 0 0 0 rg BT 244.29 61.10 Td (date ) Tj ET Q q 0 0 0 rg BT 263.50 61.10 Td (in ) Tj ET Q q 0 0 0 rg BT 273.84 61.10 Td (the ) Tj ET Q q 0 0 0 rg BT 288.61 61.10 Td (third ) Tj ET Q q 0 0 0 rg BT 310.06 61.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 340.93 61.10 Td (with ) Tj ET Q q 0 0 0 rg BT 361.27 61.10 Td (a ) Tj ET Q q 0 0 0 rg BT 368.27 61.10 Td (twelve ) Tj ET Q q 0 0 0 rg BT 397.48 61.10 Td (month ) Tj ET Q q 0 0 0 rg BT 425.60 61.10 Td (term ) Tj ET Q q 0 0 0 rg BT 446.48 61.10 Td (and ) Tj ET Q q 0 0 0 rg BT 463.48 61.10 Td (was ) Tj ET Q q 0 0 0 rg BT 481.59 61.10 Td (renewed ) Tj ET Q q 0 0 0 rg BT 518.01 61.10 Td (in ) Tj ET Q q 0 0 0 rg BT 528.35 61.10 Td (the ) Tj ET Q q 0 0 0 rg BT 543.13 61.10 Td (third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.10 Td (quarters ) Tj ET Q q 0 0 0 rg BT 84.72 49.10 Td (of ) Tj ET Q q 0 0 0 rg BT 95.57 49.10 Td (both ) Tj ET Q q 0 0 0 rg BT 115.87 49.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 138.38 49.10 Td (and ) Tj ET Q q 0 0 0 rg BT 155.34 49.10 Td (2014. ) Tj ET Q q 0 0 0 rg BT 180.36 49.10 Td ( ) Tj ET Q q 0 0 0 rg BT 182.69 49.10 Td (This ) Tj ET Q q 0 0 0 rg BT 202.99 49.10 Td (agent ) Tj ET Q q 0 0 0 rg BT 227.16 49.10 Td (was ) Tj ET Q q 0 0 0 rg BT 245.23 49.10 Td (responsible ) Tj ET Q q 0 0 0 rg BT 293.29 49.10 Td (for ) Tj ET Q q 0 0 0 rg BT 307.47 49.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.75 49.10 Td (10.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.58 49.10 Td ( ) Tj ET Q q 0 0 0 rg BT 396.09 49.10 Td (of ) Tj ET Q q 0 0 0 rg BT 406.94 49.10 Td (our ) Tj ET Q q 0 0 0 rg BT 422.79 49.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 446.42 49.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 485.04 49.10 Td (written ) Tj ET Q q 0 0 0 rg BT 515.88 49.10 Td (for ) Tj ET Q q 0 0 0 rg BT 530.06 49.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.79 49.10 Td (year ) Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 77.24 742.10 Td (December ) Tj ET Q q 0 0 0 rg BT 121.69 742.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 137.56 742.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.56 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 163.18 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 171.82 742.10 Td (e ) Tj ET Q q 0 0 0 rg BT 179.63 742.10 Td (do ) Tj ET Q q 0 0 0 rg BT 192.99 742.10 Td (not ) Tj ET Q q 0 0 0 rg BT 209.14 742.10 Td (have ) Tj ET Q q 0 0 0 rg BT 231.38 742.10 Td (an ) Tj ET Q q 0 0 0 rg BT 244.19 742.10 Td (exclusive ) Tj ET Q q 0 0 0 rg BT 285.32 742.10 Td (relationship ) Tj ET Q q 0 0 0 rg BT 335.90 742.10 Td (with ) Tj ET Q q 0 0 0 rg BT 357.04 742.10 Td (this ) Tj ET Q q 0 0 0 rg BT 374.86 742.10 Td (agent, ) Tj ET Q q 0 0 0 rg BT 402.38 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 420.18 742.10 Td (there ) Tj ET Q q 0 0 0 rg BT 443.54 742.10 Td (can ) Tj ET Q q 0 0 0 rg BT 460.78 742.10 Td (be ) Tj ET Q q 0 0 0 rg BT 473.58 742.10 Td (no ) Tj ET Q q 0 0 0 rg BT 486.95 742.10 Td (assurance ) Tj ET Q q 0 0 0 rg BT 529.19 742.10 Td (that ) Tj ET Q q 0 0 0 rg BT 547.55 742.10 Td (this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (relationship ) Tj ET Q q 0 0 0 rg BT 99.64 730.10 Td (will ) Tj ET Q q 0 0 0 rg BT 117.62 730.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 154.47 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 164.67 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 179.31 730.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 208.11 730.10 Td (If ) Tj ET Q q 0 0 0 rg BT 217.20 730.10 Td (this ) Tj ET Q q 0 0 0 rg BT 234.07 730.10 Td (agent ) Tj ET Q q 0 0 0 rg BT 258.15 730.10 Td (reduces ) Tj ET Q q 0 0 0 rg BT 291.11 730.10 Td (its ) Tj ET Q q 0 0 0 rg BT 302.98 730.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 345.95 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 356.70 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 372.45 730.10 Td (products ) Tj ET Q q 0 0 0 rg BT 409.31 730.10 Td (or ) Tj ET Q q 0 0 0 rg BT 420.07 730.10 Td (moves ) Tj ET Q q 0 0 0 rg BT 448.60 730.10 Td (some ) Tj ET Q q 0 0 0 rg BT 472.13 730.10 Td (or ) Tj ET Q q 0 0 0 rg BT 482.88 730.10 Td (all ) Tj ET Q q 0 0 0 rg BT 495.30 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 506.06 730.10 Td (its ) Tj ET Q q 0 0 0 rg BT 517.93 730.10 Td (business ) Tj ET Q q 0 0 0 rg BT 554.24 730.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (another ) Tj ET Q q 0 0 0 rg BT 82.64 718.10 Td (carrier) Tj ET Q q 0 0 0 rg BT 108.33 718.10 Td (, ) Tj ET Q q 0 0 0 rg BT 113.49 718.10 Td (then ) Tj ET Q q 0 0 0 rg BT 133.36 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 149.35 718.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 188.40 718.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 226.04 718.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 266.47 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 283.57 718.10 Td (results ) Tj ET Q q 0 0 0 rg BT 312.34 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 323.33 718.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 367.64 718.10 Td (would ) Tj ET Q q 0 0 0 rg BT 395.30 718.10 Td (be ) Tj ET Q q 0 0 0 rg BT 407.40 718.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 448.37 718.10 Td (af) Tj ET Q q 0 0 0 rg BT 455.96 718.10 Td (fected. ) Tj ET Q q 0 0 0 rg BT 485.54 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 488.20 718.10 Td (In ) Tj ET Q q 0 0 0 rg BT 499.19 718.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 537.12 718.10 Td (due ) Tj ET Q q 0 0 0 rg BT 554.22 718.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (part ) Tj ET Q q 0 0 0 rg BT 68.18 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 78.58 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 94.54 706.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 125.50 706.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 171.43 706.10 Td (with ) Tj ET Q q 0 0 0 rg BT 191.84 706.10 Td (this ) Tj ET Q q 0 0 0 rg BT 208.92 706.10 Td (program, ) Tj ET Q q 0 0 0 rg BT 247.92 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 264.99 706.10 Td (with ) Tj ET Q q 0 0 0 rg BT 285.40 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 300.25 706.10 Td (New ) Tj ET Q q 0 0 0 rg BT 321.37 706.10 Td (Y) Tj ET Q q 0 0 0 rg BT 327.59 706.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 343.55 706.10 Td (City ) Tj ET Q q 0 0 0 rg BT 363.40 706.10 Td (market ) Tj ET Q q 0 0 0 rg BT 393.80 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 404.20 706.10 Td (general, ) Tj ET Q q 0 0 0 rg BT 438.76 706.10 Td (it ) Tj ET Q q 0 0 0 rg BT 446.94 706.10 Td (is ) Tj ET Q q 0 0 0 rg BT 456.24 706.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 496.07 706.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 530.91 706.10 Td (policies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 77.59 694.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 114.61 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 124.98 694.10 Td (this ) Tj ET Q q 0 0 0 rg BT 142.02 694.10 Td (program ) Tj ET Q q 0 0 0 rg BT 178.48 694.10 Td (will ) Tj ET Q q 0 0 0 rg BT 196.63 694.10 Td (be ) Tj ET Q q 0 0 0 rg BT 208.65 694.10 Td (profitable. ) Tj ET Q q 0 0 0 rg BT 252.61 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 255.20 694.10 Td (For ) Tj ET Q q 0 0 0 rg BT 271.68 694.10 Td (example, ) Tj ET Q q 0 0 0 rg BT 310.64 694.10 Td (if ) Tj ET Q q 0 0 0 rg BT 319.34 694.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 340.82 694.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 384.50 694.10 Td (with ) Tj ET Q q 0 0 0 rg BT 404.86 694.10 Td (these ) Tj ET Q q 0 0 0 rg BT 428.00 694.10 Td (clients ) Tj ET Q q 0 0 0 rg BT 456.69 694.10 Td (dif) Tj ET Q q 0 0 0 rg BT 467.62 694.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 481.30 694.10 Td (from ) Tj ET Q q 0 0 0 rg BT 503.33 694.10 Td (those ) Tj ET Q q 0 0 0 rg BT 527.03 694.10 Td (reflected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 682.10 Td (our ) Tj ET Q q 0 0 0 rg BT 76.11 682.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 130.26 682.10 Td (policies, ) Tj ET Q q 0 0 0 rg BT 166.37 682.10 Td (then ) Tj ET Q q 0 0 0 rg BT 186.08 682.10 Td (our ) Tj ET Q q 0 0 0 rg BT 201.91 682.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 240.81 682.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 278.29 682.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 318.56 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 335.50 682.10 Td (results ) Tj ET Q q 0 0 0 rg BT 364.11 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 374.94 682.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 419.09 682.10 Td (would ) Tj ET Q q 0 0 0 rg BT 446.59 682.10 Td (be ) Tj ET Q q 0 0 0 rg BT 458.53 682.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 499.35 682.10 Td (af) Tj ET Q q 0 0 0 rg BT 506.93 682.10 Td (fected.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Engaging ) Tj ET Q q 0 0 0 rg BT 92.73 658.10 Td (in ) Tj ET Q q 0 0 0 rg BT 103.23 658.10 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 154.85 658.10 Td (involves ) Tj ET Q q 0 0 0 rg BT 190.34 658.10 Td (risks, ) Tj ET Q q 0 0 0 rg BT 214.45 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.17 658.10 Td (if ) Tj ET Q q 0 0 0 rg BT 240.44 658.10 Td (we ) Tj ET Q q 0 0 0 rg BT 253.71 658.10 Td (are ) Tj ET Q q 0 0 0 rg BT 269.20 658.10 Td (unable ) Tj ET Q q 0 0 0 rg BT 299.70 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 309.64 658.10 Td (ef) Tj ET Q q 0 0 0 rg BT 317.23 658.10 Td (fectively ) Tj ET Q q 0 0 0 rg BT 353.25 658.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 388.19 658.10 Td (these ) Tj ET Q q 0 0 0 rg BT 411.46 658.10 Td (risks, ) Tj ET Q q 0 0 0 rg BT 435.57 658.10 Td (our ) Tj ET Q q 0 0 0 rg BT 452.18 658.10 Td (business ) Tj ET Q q 0 0 0 rg BT 489.36 658.10 Td (may ) Tj ET Q q 0 0 0 rg BT 508.74 658.10 Td (be ) Tj ET Q q 0 0 0 rg BT 520.33 658.10 Td (materially ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (harmed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Acquisitions ) Tj ET Q q 0 0 0 rg BT 102.84 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 113.45 622.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 143.51 622.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 184.11 622.10 Td (providers, ) Tj ET Q q 0 0 0 rg BT 226.66 622.10 Td (such ) Tj ET Q q 0 0 0 rg BT 247.27 622.10 Td (as ) Tj ET Q q 0 0 0 rg BT 257.88 622.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 295.70 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 312.42 622.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 341.92 622.10 Td (Liberty) Tj ET Q q 0 0 0 rg BT 370.71 622.10 Td (, ) Tj ET Q q 0 0 0 rg BT 375.49 622.10 Td (are ) Tj ET Q q 0 0 0 rg BT 389.98 622.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 427.80 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 437.86 622.10 Td (be ) Tj ET Q q 0 0 0 rg BT 449.58 622.10 Td (a ) Tj ET Q q 0 0 0 rg BT 456.30 622.10 Td (material ) Tj ET Q q 0 0 0 rg BT 491.34 622.10 Td (component ) Tj ET Q q 0 0 0 rg BT 538.06 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 548.67 622.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 81.55 610.10 Td (strategy) Tj ET Q q 0 0 0 rg BT 112.56 610.10 Td (, ) Tj ET Q q 0 0 0 rg BT 118.28 610.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 149.83 610.10 Td (to ) Tj ET Q q 0 0 0 rg BT 160.84 610.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 209.05 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 220.60 610.10 Td (suitable ) Tj ET Q q 0 0 0 rg BT 254.93 610.10 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 310.92 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 328.59 610.10 Td (market ) Tj ET Q q 0 0 0 rg BT 359.58 610.10 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 406.96 610.10 Td (From ) Tj ET Q q 0 0 0 rg BT 431.86 610.10 Td (time ) Tj ET Q q 0 0 0 rg BT 452.86 610.10 Td (to ) Tj ET Q q 0 0 0 rg BT 463.86 610.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 487.36 610.10 Td (we ) Tj ET Q q 0 0 0 rg BT 502.24 610.10 Td (may ) Tj ET Q q 0 0 0 rg BT 522.68 610.10 Td (engage ) Tj ET Q q 0 0 0 rg BT 554.22 610.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (discussions ) Tj ET Q q 0 0 0 rg BT 97.41 598.10 Td (concerning ) Tj ET Q q 0 0 0 rg BT 143.68 598.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 189.42 598.10 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 244.04 598.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 262.83 598.10 Td (as ) Tj ET Q q 0 0 0 rg BT 273.01 598.10 Td (a ) Tj ET Q q 0 0 0 rg BT 279.29 598.10 Td (result ) Tj ET Q q 0 0 0 rg BT 303.36 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 313.54 598.10 Td (such ) Tj ET Q q 0 0 0 rg BT 333.72 598.10 Td (discussions, ) Tj ET Q q 0 0 0 rg BT 383.63 598.10 Td (may ) Tj ET Q q 0 0 0 rg BT 402.70 598.10 Td (enter ) Tj ET Q q 0 0 0 rg BT 424.53 598.10 Td (into ) Tj ET Q q 0 0 0 rg BT 441.94 598.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 487.67 598.10 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 539.78 598.10 Td (Upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.24 586.10 Td (announcement ) Tj ET Q q 0 0 0 rg BT 126.57 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 137.92 586.10 Td (an ) Tj ET Q q 0 0 0 rg BT 150.39 586.10 Td (acquisition, ) Tj ET Q q 0 0 0 rg BT 199.79 586.10 Td (our ) Tj ET Q q 0 0 0 rg BT 216.14 586.10 Td (share ) Tj ET Q q 0 0 0 rg BT 240.26 586.10 Td (price ) Tj ET Q q 0 0 0 rg BT 263.27 586.10 Td (may ) Tj ET Q q 0 0 0 rg BT 283.51 586.10 Td (fall ) Tj ET Q q 0 0 0 rg BT 299.86 586.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 344.54 586.10 Td (on ) Tj ET Q q 0 0 0 rg BT 357.56 586.10 Td (numerous ) Tj ET Q q 0 0 0 rg BT 400.02 586.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 432.75 586.10 Td (including ) Tj ET Q q 0 0 0 rg BT 473.54 586.10 Td (but ) Tj ET Q q 0 0 0 rg BT 489.35 586.10 Td (not ) Tj ET Q q 0 0 0 rg BT 505.15 586.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 536.50 586.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 549.80 586.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (intended ) Tj ET Q q 0 0 0 rg BT 86.59 574.10 Td (tar) Tj ET Q q 0 0 0 rg BT 96.96 574.10 Td (get, ) Tj ET Q q 0 0 0 rg BT 113.83 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.21 574.10 Td (size ) Tj ET Q q 0 0 0 rg BT 145.91 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.40 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 170.78 574.10 Td (acquisition, ) Tj ET Q q 0 0 0 rg BT 219.32 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 233.69 574.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 271.39 574.10 Td (price ) Tj ET Q q 0 0 0 rg BT 293.53 574.10 Td (and ) Tj ET Q q 0 0 0 rg BT 310.13 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 324.50 574.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 361.65 574.10 Td (dilution ) Tj ET Q q 0 0 0 rg BT 394.92 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 404.86 574.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 438.68 574.10 Td (shareholders. ) Tj ET Q q 0 0 0 rg BT 493.88 574.10 Td (It ) Tj ET Q q 0 0 0 rg BT 502.14 574.10 Td (is ) Tj ET Q q 0 0 0 rg BT 510.97 574.10 Td (also ) Tj ET Q q 0 0 0 rg BT 529.24 574.10 Td (possible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.50 562.10 Td (an ) Tj ET Q q 0 0 0 rg BT 79.43 562.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 125.82 562.10 Td (could ) Tj ET Q q 0 0 0 rg BT 150.53 562.10 Td (dilute ) Tj ET Q q 0 0 0 rg BT 175.81 562.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 212.18 562.10 Td (per ) Tj ET Q q 0 0 0 rg BT 227.45 562.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 253.00 562.10 Td (Acquisitions ) Tj ET Q q 0 0 0 rg BT 306.05 562.10 Td (entail ) Tj ET Q q 0 0 0 rg BT 330.77 562.10 Td (numerous ) Tj ET Q q 0 0 0 rg BT 372.71 562.10 Td (risks, ) Tj ET Q q 0 0 0 rg BT 396.60 562.10 Td (including ) Tj ET Q q 0 0 0 rg BT 436.87 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 451.59 562.10 Td (following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 538.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 538.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 538.10 Td (dif) Tj ET Q q 0 0 0 rg BT 135.43 538.10 Td (ficulties ) Tj ET Q q 0 0 0 rg BT 170.14 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 180.42 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 195.13 538.10 Td (integration ) Tj ET Q q 0 0 0 rg BT 240.96 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 251.79 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 266.50 538.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 303.43 538.10 Td (business;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 526.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 526.10 Td (assumption ) Tj ET Q q 0 0 0 rg BT 172.56 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.39 526.10 Td (unknown ) Tj ET Q q 0 0 0 rg BT 223.11 526.10 Td (material ) Tj ET Q q 0 0 0 rg BT 258.37 526.10 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 300.58 526.10 Td (including ) Tj ET Q q 0 0 0 rg BT 340.86 526.10 Td (deficient ) Tj ET Q q 0 0 0 rg BT 378.34 526.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 422.51 526.10 Td (for ) Tj ET Q q 0 0 0 rg BT 436.67 526.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 466.38 526.10 Td (claims;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 514.10 Td (diversion ) Tj ET Q q 0 0 0 rg BT 164.22 514.10 Td (of ) Tj ET Q q 0 0 0 rg BT 175.05 514.10 Td (management) Tj ET Q q 0 0 0 rg BT 228.91 514.10 Td (s ) Tj ET Q q 0 0 0 rg BT 235.31 514.10 Td (attention ) Tj ET Q q 0 0 0 rg BT 272.80 514.10 Td (from ) Tj ET Q q 0 0 0 rg BT 294.73 514.10 Td (other ) Tj ET Q q 0 0 0 rg BT 317.78 514.10 Td (business ) Tj ET Q q 0 0 0 rg BT 354.17 514.10 Td (concerns;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 502.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 502.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 153.09 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 163.37 502.10 Td (achieve ) Tj ET Q q 0 0 0 rg BT 196.40 502.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 233.88 502.10 Td (or ) Tj ET Q q 0 0 0 rg BT 244.71 502.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 284.98 502.10 Td (objectives; ) Tj ET Q q 0 0 0 rg BT 330.80 502.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.50 490.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 161.99 490.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 180.05 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.88 490.10 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 247.82 490.10 Td (or ) Tj ET Q q 0 0 0 rg BT 258.65 490.10 Td (key ) Tj ET Q q 0 0 0 rg BT 275.58 490.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 320.85 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 331.68 490.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 368.60 490.10 Td (companies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 466.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.62 466.10 Td (may ) Tj ET Q q 0 0 0 rg BT 85.37 466.10 Td (be ) Tj ET Q q 0 0 0 rg BT 97.35 466.10 Td (unable ) Tj ET Q q 0 0 0 rg BT 126.55 466.10 Td (to ) Tj ET Q q 0 0 0 rg BT 136.87 466.10 Td (integrate ) Tj ET Q q 0 0 0 rg BT 174.39 466.10 Td (or ) Tj ET Q q 0 0 0 rg BT 185.26 466.10 Td (profitably ) Tj ET Q q 0 0 0 rg BT 227.23 466.10 Td (operate ) Tj ET Q q 0 0 0 rg BT 259.20 466.10 Td (any ) Tj ET Q q 0 0 0 rg BT 276.18 466.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 315.11 466.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 361.80 466.10 Td (personnel, ) Tj ET Q q 0 0 0 rg BT 405.72 466.10 Td (services ) Tj ET Q q 0 0 0 rg BT 440.47 466.10 Td (or ) Tj ET Q q 0 0 0 rg BT 451.34 466.10 Td (products ) Tj ET Q q 0 0 0 rg BT 488.32 466.10 Td (we ) Tj ET Q q 0 0 0 rg BT 502.52 466.10 Td (may ) Tj ET Q q 0 0 0 rg BT 522.28 466.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 554.24 466.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 454.10 Td (future, ) Tj ET Q q 0 0 0 rg BT 92.60 454.10 Td (which ) Tj ET Q q 0 0 0 rg BT 119.04 454.10 Td (may ) Tj ET Q q 0 0 0 rg BT 138.26 454.10 Td (result ) Tj ET Q q 0 0 0 rg BT 162.48 454.10 Td (in ) Tj ET Q q 0 0 0 rg BT 172.26 454.10 Td (our ) Tj ET Q q 0 0 0 rg BT 187.59 454.10 Td (inability ) Tj ET Q q 0 0 0 rg BT 222.92 454.10 Td (to ) Tj ET Q q 0 0 0 rg BT 232.70 454.10 Td (realize ) Tj ET Q q 0 0 0 rg BT 261.34 454.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 298.88 454.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 332.52 454.10 Td (increases, ) Tj ET Q q 0 0 0 rg BT 373.67 454.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 391.78 454.10 Td (savings, ) Tj ET Q q 0 0 0 rg BT 426.28 454.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 464.93 454.10 Td (in ) Tj ET Q q 0 0 0 rg BT 474.71 454.10 Td (geographic ) Tj ET Q q 0 0 0 rg BT 521.14 454.10 Td (or ) Tj ET Q q 0 0 0 rg BT 531.47 454.10 Td (product ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (presence, ) Tj ET Q q 0 0 0 rg BT 89.80 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 106.56 442.10 Td (other ) Tj ET Q q 0 0 0 rg BT 129.42 442.10 Td (projected ) Tj ET Q q 0 0 0 rg BT 168.95 442.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 202.92 442.10 Td (from ) Tj ET Q q 0 0 0 rg BT 224.68 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.22 442.10 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 287.92 442.10 Td (Integration ) Tj ET Q q 0 0 0 rg BT 334.11 442.10 Td (may ) Tj ET Q q 0 0 0 rg BT 353.65 442.10 Td (result ) Tj ET Q q 0 0 0 rg BT 378.19 442.10 Td (in ) Tj ET Q q 0 0 0 rg BT 388.29 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 402.83 442.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 420.71 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.36 442.10 Td (key ) Tj ET Q q 0 0 0 rg BT 448.12 442.10 Td (employees, ) Tj ET Q q 0 0 0 rg BT 495.70 442.10 Td (disruption ) Tj ET Q q 0 0 0 rg BT 538.58 442.10 Td (to ) Tj ET Q q 0 0 0 rg BT 548.68 442.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 84.14 430.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 128.83 430.10 Td (or ) Tj ET Q q 0 0 0 rg BT 139.63 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 154.32 430.10 Td (business ) Tj ET Q q 0 0 0 rg BT 190.68 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 201.48 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 216.17 430.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 253.06 430.10 Td (company) Tj ET Q q 0 0 0 rg BT 289.07 430.10 Td (, ) Tj ET Q q 0 0 0 rg BT 294.04 430.10 Td (or ) Tj ET Q q 0 0 0 rg BT 304.84 430.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 346.19 430.10 Td (harm ) Tj ET Q q 0 0 0 rg BT 369.20 430.10 Td (our ) Tj ET Q q 0 0 0 rg BT 385.00 430.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 413.03 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 423.28 430.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 448.51 430.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 491.53 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 508.44 430.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 553.67 430.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (achieve ) Tj ET Q q 0 0 0 rg BT 83.32 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 98.33 418.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 144.98 418.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 179.43 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.55 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 205.56 418.10 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 254.53 418.10 Td (T) Tj ET Q q 0 0 0 rg BT 260.28 418.10 Td (ime ) Tj ET Q q 0 0 0 rg BT 278.07 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 295.29 418.10 Td (resources ) Tj ET Q q 0 0 0 rg BT 335.84 418.10 Td (spent ) Tj ET Q q 0 0 0 rg BT 359.74 418.10 Td (on ) Tj ET Q q 0 0 0 rg BT 372.53 418.10 Td (integration ) Tj ET Q q 0 0 0 rg BT 418.64 418.10 Td (may ) Tj ET Q q 0 0 0 rg BT 438.65 418.10 Td (also ) Tj ET Q q 0 0 0 rg BT 457.54 418.10 Td (impair ) Tj ET Q q 0 0 0 rg BT 486.44 418.10 Td (our ) Tj ET Q q 0 0 0 rg BT 502.56 418.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 530.90 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 541.47 418.10 Td (grow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (our ) Tj ET Q q 0 0 0 rg BT 64.96 406.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 98.25 406.10 Td (businesses. ) Tj ET Q q 0 0 0 rg BT 144.25 406.10 Td (Also, ) Tj ET Q q 0 0 0 rg BT 167.27 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 181.11 406.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 216.62 406.10 Td (ef) Tj ET Q q 0 0 0 rg BT 224.20 406.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 240.82 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 250.78 406.10 Td (any ) Tj ET Q q 0 0 0 rg BT 266.85 406.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 303.46 406.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 359.53 406.10 Td (required ) Tj ET Q q 0 0 0 rg BT 394.47 406.10 Td (by ) Tj ET Q q 0 0 0 rg BT 406.10 406.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 448.83 406.10 Td (authorities ) Tj ET Q q 0 0 0 rg BT 492.67 406.10 Td (or ) Tj ET Q q 0 0 0 rg BT 502.63 406.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 527.58 406.10 Td (agencies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.67 394.10 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 109.33 394.10 Td (or ) Tj ET Q q 0 0 0 rg BT 119.55 394.10 Td (business ) Tj ET Q q 0 0 0 rg BT 155.33 394.10 Td (combinations ) Tj ET Q q 0 0 0 rg BT 211.10 394.10 Td (may ) Tj ET Q q 0 0 0 rg BT 230.20 394.10 Td (be ) Tj ET Q q 0 0 0 rg BT 241.53 394.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 271.17 394.10 Td (than ) Tj ET Q q 0 0 0 rg BT 290.28 394.10 Td (expected, ) Tj ET Q q 0 0 0 rg BT 330.20 394.10 Td (specifically ) Tj ET Q q 0 0 0 rg BT 378.18 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 392.28 394.10 Td (integration ) Tj ET Q q 0 0 0 rg BT 437.49 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 447.71 394.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 476.82 394.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 508.14 394.10 Td (infrastructure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.94 382.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 112.76 382.10 Td (its ) Tj ET Q q 0 0 0 rg BT 124.71 382.10 Td (65 ) Tj ET Q q 0 0 0 rg BT 137.21 382.10 Td (employees. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (Provisions ) Tj ET Q q 0 0 0 rg BT 95.67 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 106.34 358.10 Td (our ) Tj ET Q q 0 0 0 rg BT 123.12 358.10 Td (organizational ) Tj ET Q q 0 0 0 rg BT 185.46 358.10 Td (documents, ) Tj ET Q q 0 0 0 rg BT 234.74 358.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 276.51 358.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 297.18 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 315.07 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.17 358.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 373.62 358.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 394.29 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 404.95 358.10 Td (Illinois, ) Tj ET Q q 0 0 0 rg BT 439.24 358.10 Td (Missouri, ) Tj ET Q q 0 0 0 rg BT 480.75 358.10 Td (New ) Tj ET Q q 0 0 0 rg BT 501.24 358.10 Td (Y) Tj ET Q q 0 0 0 rg BT 506.24 358.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 522.46 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 540.35 358.10 Td (other ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (states ) Tj ET Q q 0 0 0 rg BT 74.74 346.10 Td (could ) Tj ET Q q 0 0 0 rg BT 99.48 346.10 Td (impede ) Tj ET Q q 0 0 0 rg BT 130.88 346.10 Td (an ) Tj ET Q q 0 0 0 rg BT 143.40 346.10 Td (attempt ) Tj ET Q q 0 0 0 rg BT 175.92 346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 185.66 346.10 Td (replace ) Tj ET Q q 0 0 0 rg BT 217.61 346.10 Td (or ) Tj ET Q q 0 0 0 rg BT 228.46 346.10 Td (remove ) Tj ET Q q 0 0 0 rg BT 260.41 346.10 Td (management ) Tj ET Q q 0 0 0 rg BT 315.71 346.10 Td (or ) Tj ET Q q 0 0 0 rg BT 326.56 346.10 Td (directors ) Tj ET Q q 0 0 0 rg BT 364.63 346.10 Td (or ) Tj ET Q q 0 0 0 rg BT 375.49 346.10 Td (prevent ) Tj ET Q q 0 0 0 rg BT 408.00 346.10 Td (or ) Tj ET Q q 0 0 0 rg BT 418.85 346.10 Td (delay ) Tj ET Q q 0 0 0 rg BT 442.47 346.10 Td (a ) Tj ET Q q 0 0 0 rg BT 449.43 346.10 Td (merger ) Tj ET Q q 0 0 0 rg BT 480.83 346.10 Td (or ) Tj ET Q q 0 0 0 rg BT 491.69 346.10 Td (sale, ) Tj ET Q q 0 0 0 rg BT 512.26 346.10 Td (which ) Tj ET Q q 0 0 0 rg BT 539.23 346.10 Td (could ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (diminish ) Tj ET Q q 0 0 0 rg BT 88.63 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 103.91 334.10 Td (value ) Tj ET Q q 0 0 0 rg BT 128.62 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 139.45 334.10 Td (our ) Tj ET Q q 0 0 0 rg BT 156.41 334.10 Td (shares.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.68 310.10 Td (Memorandum ) Tj ET Q q 0 0 0 rg BT 126.46 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 136.45 310.10 Td (Association, ) Tj ET Q q 0 0 0 rg BT 187.82 310.10 Td (Articles ) Tj ET Q q 0 0 0 rg BT 221.60 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 231.59 310.10 Td (Association ) Tj ET Q q 0 0 0 rg BT 280.93 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 297.50 310.10 Td (Code ) Tj ET Q q 0 0 0 rg BT 320.73 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 331.19 310.10 Td (Regulations ) Tj ET Q q 0 0 0 rg BT 381.09 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 397.65 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 412.00 310.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 451.88 310.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 472.33 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 488.90 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 503.24 310.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 543.69 310.10 Td (laws ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.22 298.10 Td (various ) Tj ET Q q 0 0 0 rg BT 93.55 298.10 Td (states ) Tj ET Q q 0 0 0 rg BT 118.66 298.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 150.99 298.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 195.55 298.10 Td (that ) Tj ET Q q 0 0 0 rg BT 213.44 298.10 Td (could ) Tj ET Q q 0 0 0 rg BT 238.55 298.10 Td (impede ) Tj ET Q q 0 0 0 rg BT 270.87 298.10 Td (an ) Tj ET Q q 0 0 0 rg BT 283.20 298.10 Td (attempt ) Tj ET Q q 0 0 0 rg BT 316.08 298.10 Td (to ) Tj ET Q q 0 0 0 rg BT 326.75 298.10 Td (replace ) Tj ET Q q 0 0 0 rg BT 358.51 298.10 Td (or ) Tj ET Q q 0 0 0 rg BT 369.73 298.10 Td (remove ) Tj ET Q q 0 0 0 rg BT 402.61 298.10 Td (management ) Tj ET Q q 0 0 0 rg BT 456.59 298.10 Td (or ) Tj ET Q q 0 0 0 rg BT 467.81 298.10 Td (directors ) Tj ET Q q 0 0 0 rg BT 505.69 298.10 Td (or ) Tj ET Q q 0 0 0 rg BT 516.91 298.10 Td (prevent ) Tj ET Q q 0 0 0 rg BT 549.79 298.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 68.21 286.10 Td (of ) Tj ET Q q 0 0 0 rg BT 79.20 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 94.07 286.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 135.05 286.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 184.93 286.10 Td (that ) Tj ET Q q 0 0 0 rg BT 202.58 286.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 255.78 286.10 Td (might ) Tj ET Q q 0 0 0 rg BT 281.77 286.10 Td (consider ) Tj ET Q q 0 0 0 rg BT 318.31 286.10 Td (to ) Tj ET Q q 0 0 0 rg BT 328.75 286.10 Td (be ) Tj ET Q q 0 0 0 rg BT 340.85 286.10 Td (in ) Tj ET Q q 0 0 0 rg BT 351.29 286.10 Td (their ) Tj ET Q q 0 0 0 rg BT 372.27 286.10 Td (best ) Tj ET Q q 0 0 0 rg BT 391.04 286.10 Td (interests. ) Tj ET Q q 0 0 0 rg BT 429.33 286.10 Td (These ) Tj ET Q q 0 0 0 rg BT 455.87 286.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 500.20 286.10 Td (include, ) Tj ET Q q 0 0 0 rg BT 534.79 286.10 Td (among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (others:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 250.10 Td (requiring ) Tj ET Q q 0 0 0 rg BT 161.16 250.10 Td (a ) Tj ET Q q 0 0 0 rg BT 168.09 250.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 187.81 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 198.64 250.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 230.58 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 241.41 250.10 Td (5% ) Tj ET Q q 0 0 0 rg BT 257.24 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 268.07 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 282.79 250.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 319.16 250.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 346.65 250.10 Td (to ) Tj ET Q q 0 0 0 rg BT 356.93 250.10 Td (call ) Tj ET Q q 0 0 0 rg BT 373.87 250.10 Td (a ) Tj ET Q q 0 0 0 rg BT 380.80 250.10 Td (special ) Tj ET Q q 0 0 0 rg BT 411.07 250.10 Td (meeting ) Tj ET Q q 0 0 0 rg BT 445.78 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 456.61 250.10 Td (shareholders;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 238.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 238.10 Td (requiring ) Tj ET Q q 0 0 0 rg BT 161.16 238.10 Td (a ) Tj ET Q q 0 0 0 rg BT 168.09 238.10 Td (two-thirds ) Tj ET Q q 0 0 0 rg BT 211.70 238.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 231.42 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 241.70 238.10 Td (amend ) Tj ET Q q 0 0 0 rg BT 270.85 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 285.02 238.10 Td (Articles ) Tj ET Q q 0 0 0 rg BT 319.17 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 329.45 238.10 Td (Association;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 226.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 226.10 Td (requiring ) Tj ET Q q 0 0 0 rg BT 161.58 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.71 226.10 Td (af) Tj ET Q q 0 0 0 rg BT 184.30 226.10 Td (firmative ) Tj ET Q q 0 0 0 rg BT 223.87 226.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 244.01 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 255.26 226.10 Td (a ) Tj ET Q q 0 0 0 rg BT 262.62 226.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 299.42 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 310.67 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 325.80 226.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 354.28 226.10 Td (power ) Tj ET Q q 0 0 0 rg BT 382.19 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 393.44 226.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 421.35 226.10 Td (represented ) Tj ET Q q 0 0 0 rg BT 470.35 226.10 Td (at ) Tj ET Q q 0 0 0 rg BT 480.49 226.10 Td (a ) Tj ET Q q 0 0 0 rg BT 487.85 226.10 Td (special ) Tj ET Q q 0 0 0 rg BT 518.53 226.10 Td (meeting ) Tj ET Q q 0 0 0 rg BT 553.67 226.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 214.10 Td (shareholders; ) Tj ET Q q 0 0 0 rg BT 177.82 214.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 202.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 202.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 159.43 202.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 214.07 202.10 Td (prohibiting ) Tj ET Q q 0 0 0 rg BT 260.95 202.10 Td (a ) Tj ET Q q 0 0 0 rg BT 267.83 202.10 Td (mer) Tj ET Q q 0 0 0 rg BT 283.20 202.10 Td (ger) Tj ET Q q 0 0 0 rg BT 295.57 202.10 Td (, ) Tj ET Q q 0 0 0 rg BT 300.50 202.10 Td (consolidation, ) Tj ET Q q 0 0 0 rg BT 359.32 202.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 411.75 202.10 Td (or ) Tj ET Q q 0 0 0 rg BT 422.52 202.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 458.84 202.10 Td (share ) Tj ET Q q 0 0 0 rg BT 482.38 202.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 528.70 202.10 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 190.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 161.85 190.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 210.60 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 226.57 190.10 Td (an ) Tj ET Q q 0 0 0 rg BT 237.54 190.10 Td (interested ) Tj ET Q q 0 0 0 rg BT 277.95 190.10 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 326.13 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 335.99 190.10 Td (an ) Tj ET Q q 0 0 0 rg BT 346.96 190.10 Td (af) Tj ET Q q 0 0 0 rg BT 354.55 190.10 Td (filiate ) Tj ET Q q 0 0 0 rg BT 379.40 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 389.27 190.10 Td (an ) Tj ET Q q 0 0 0 rg BT 400.24 190.10 Td (interested ) Tj ET Q q 0 0 0 rg BT 440.64 190.10 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 488.82 190.10 Td (without ) Tj ET Q q 0 0 0 rg BT 520.91 190.10 Td (regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 178.10 Td (approval.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (These ) Tj ET Q q 0 0 0 rg BT 75.99 154.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 119.77 154.10 Td (may ) Tj ET Q q 0 0 0 rg BT 139.10 154.10 Td (prevent ) Tj ET Q q 0 0 0 rg BT 171.20 154.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 223.85 154.10 Td (from ) Tj ET Q q 0 0 0 rg BT 245.40 154.10 Td (receiving ) Tj ET Q q 0 0 0 rg BT 284.72 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 299.05 154.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 328.93 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 339.37 154.10 Td (any ) Tj ET Q q 0 0 0 rg BT 355.92 154.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 394.14 154.10 Td (over ) Tj ET Q q 0 0 0 rg BT 414.02 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 428.35 154.10 Td (market ) Tj ET Q q 0 0 0 rg BT 458.23 154.10 Td (price ) Tj ET Q q 0 0 0 rg BT 480.33 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 490.77 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 506.21 154.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 533.32 154.10 Td (of) Tj ET Q q 0 0 0 rg BT 541.47 154.10 Td (fered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (by ) Tj ET Q q 0 0 0 rg BT 63.45 142.10 Td (a ) Tj ET Q q 0 0 0 rg BT 71.33 142.10 Td (bidder ) Tj ET Q q 0 0 0 rg BT 100.33 142.10 Td (in ) Tj ET Q q 0 0 0 rg BT 111.55 142.10 Td (a ) Tj ET Q q 0 0 0 rg BT 119.44 142.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 157.88 142.10 Td (takeover) Tj ET Q q 0 0 0 rg BT 191.90 142.10 Td (, ) Tj ET Q q 0 0 0 rg BT 197.85 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 215.73 142.10 Td (may ) Tj ET Q q 0 0 0 rg BT 236.40 142.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 278.16 142.10 Td (af) Tj ET Q q 0 0 0 rg BT 285.75 142.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 304.18 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 319.84 142.10 Td (prevailing ) Tj ET Q q 0 0 0 rg BT 363.83 142.10 Td (market ) Tj ET Q q 0 0 0 rg BT 395.04 142.10 Td (price ) Tj ET Q q 0 0 0 rg BT 418.48 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 430.25 142.10 Td (our ) Tj ET Q q 0 0 0 rg BT 447.03 142.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 475.47 142.10 Td (if ) Tj ET Q q 0 0 0 rg BT 485.02 142.10 Td (they ) Tj ET Q q 0 0 0 rg BT 505.69 142.10 Td (are ) Tj ET Q q 0 0 0 rg BT 521.34 142.10 Td (viewed ) Tj ET Q q 0 0 0 rg BT 553.67 142.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (discouraging ) Tj ET Q q 0 0 0 rg BT 104.16 130.10 Td (takeover ) Tj ET Q q 0 0 0 rg BT 141.08 130.10 Td (attempts. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.34 106.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 97.62 106.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 137.95 106.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 181.05 106.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 224.73 106.10 Td (may ) Tj ET Q q 0 0 0 rg BT 243.96 106.10 Td (delay) Tj ET Q q 0 0 0 rg BT 264.96 106.10 Td (, ) Tj ET Q q 0 0 0 rg BT 269.47 106.10 Td (defer ) Tj ET Q q 0 0 0 rg BT 292.02 106.10 Td (or ) Tj ET Q q 0 0 0 rg BT 302.36 106.10 Td (prevent ) Tj ET Q q 0 0 0 rg BT 334.35 106.10 Td (a ) Tj ET Q q 0 0 0 rg BT 340.80 106.10 Td (takeover ) Tj ET Q q 0 0 0 rg BT 377.23 106.10 Td (attempt ) Tj ET Q q 0 0 0 rg BT 409.23 106.10 Td (that ) Tj ET Q q 0 0 0 rg BT 426.24 106.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 478.78 106.10 Td (may ) Tj ET Q q 0 0 0 rg BT 498.01 106.10 Td (consider ) Tj ET Q q 0 0 0 rg BT 533.89 106.10 Td (in ) Tj ET Q q 0 0 0 rg BT 543.68 106.10 Td (their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (best ) Tj ET Q q 0 0 0 rg BT 69.64 94.10 Td (interest. ) Tj ET Q q 0 0 0 rg BT 105.11 94.10 Td (For ) Tj ET Q q 0 0 0 rg BT 122.54 94.10 Td (example, ) Tj ET Q q 0 0 0 rg BT 162.44 94.10 Td (under ) Tj ET Q q 0 0 0 rg BT 188.75 94.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 233.37 94.10 Td (state ) Tj ET Q q 0 0 0 rg BT 255.23 94.10 Td (statutes, ) Tj ET Q q 0 0 0 rg BT 291.26 94.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 323.12 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 334.43 94.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 366.29 94.10 Td (exceptions, ) Tj ET Q q 0 0 0 rg BT 415.09 94.10 Td (no ) Tj ET Q q 0 0 0 rg BT 428.63 94.10 Td (person ) Tj ET Q q 0 0 0 rg BT 458.82 94.10 Td (or ) Tj ET Q q 0 0 0 rg BT 470.68 94.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 496.99 94.10 Td (may) Tj ET Q q 0 0 0 rg BT 513.56 94.10 Td (, ) Tj ET Q q 0 0 0 rg BT 519.59 94.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 553.67 94.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (indirectly) Tj ET Q q 0 0 0 rg BT 87.67 82.10 Td (, ) Tj ET Q q 0 0 0 rg BT 92.92 82.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 125.10 82.10 Td (control ) Tj ET Q q 0 0 0 rg BT 156.17 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 167.25 82.10 Td (a ) Tj ET Q q 0 0 0 rg BT 174.44 82.10 Td (domestic ) Tj ET Q q 0 0 0 rg BT 213.29 82.10 Td (insurer ) Tj ET Q q 0 0 0 rg BT 243.81 82.10 Td (without ) Tj ET Q q 0 0 0 rg BT 277.12 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.09 82.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 314.28 82.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 352.01 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 363.09 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.06 82.10 Td (state ) Tj ET Q q 0 0 0 rg BT 399.14 82.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 440.20 82.10 Td (regulator) Tj ET Q q 0 0 0 rg BT 475.74 82.10 Td (. ) Tj ET Q q 0 0 0 rg BT 481.00 82.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 508.74 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.70 82.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 74.06 70.10 Td (control ) Tj ET Q q 0 0 0 rg BT 114.48 70.10 Td (\(including ) Tj ET Q q 0 0 0 rg BT 158.81 70.10 Td (the ) Tj ET Q q 0 0 0 rg BT 174.25 70.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 199.69 70.10 Td (controlling, ) Tj ET Q q 0 0 0 rg BT 258.18 70.10 Td (controlled ) Tj ET Q q 0 0 0 rg BT 306.38 70.10 Td (by ) Tj ET Q q 0 0 0 rg BT 324.05 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 341.71 70.10 Td (under ) Tj ET Q q 0 0 0 rg BT 372.14 70.10 Td (common ) Tj ET Q q 0 0 0 rg BT 410.36 70.10 Td (control ) Tj ET Q q 0 0 0 rg BT 441.91 70.10 Td (with\) ) Tj ET Q q 0 0 0 rg BT 470.69 70.10 Td (is ) Tj ET Q q 0 0 0 rg BT 480.58 70.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 521.01 70.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 554.22 70.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (include ) Tj ET Q q 0 0 0 rg BT 82.83 58.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 130.11 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 141.83 58.10 Td (a ) Tj ET Q q 0 0 0 rg BT 149.66 58.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 180.26 58.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 226.96 58.10 Td (or ) Tj ET Q q 0 0 0 rg BT 238.68 58.10 Td (more ) Tj ET Q q 0 0 0 rg BT 262.62 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.35 58.10 Td (an ) Tj ET Q q 0 0 0 rg BT 287.18 58.10 Td (insurer) Tj ET Q q 0 0 0 rg BT 315.32 58.10 Td () Tj ET Q q 0 0 0 rg BT 318.10 58.10 Td (s ) Tj ET Q q 0 0 0 rg BT 325.39 58.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 354.34 58.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 395.50 58.10 Td (\(such ) Tj ET Q q 0 0 0 rg BT 420.55 58.10 Td (as ) Tj ET Q q 0 0 0 rg BT 432.28 58.10 Td (10% ) Tj ET Q q 0 0 0 rg BT 454.00 58.10 Td (or ) Tj ET Q q 0 0 0 rg BT 465.73 58.10 Td (more ) Tj ET Q q 0 0 0 rg BT 489.67 58.10 Td (under ) Tj ET Q q 0 0 0 rg BT 515.83 58.10 Td (Illinois ) Tj ET Q q 0 0 0 rg BT 547.56 58.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (Missouri ) Tj ET Q q 0 0 0 rg BT 88.36 46.10 Td (law\). ) Tj ET Q q 0 0 0 rg BT 111.23 46.10 Td (These ) Tj ET Q q 0 0 0 rg BT 137.91 46.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 192.92 46.10 Td (would ) Tj ET Q q 0 0 0 rg BT 220.72 46.10 Td (require ) Tj ET Q q 0 0 0 rg BT 251.84 46.10 Td (a ) Tj ET Q q 0 0 0 rg BT 259.08 46.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 296.87 46.10 Td (bidder ) Tj ET Q q 0 0 0 rg BT 325.22 46.10 Td (to ) Tj ET Q q 0 0 0 rg BT 335.80 46.10 Td (obtain ) Tj ET Q q 0 0 0 rg BT 363.60 46.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 385.84 46.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 423.63 46.10 Td (from ) Tj ET Q q 0 0 0 rg BT 445.87 46.10 Td (the ) Tj ET Q q 0 0 0 rg BT 460.89 46.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 502.01 46.10 Td (departments ) Tj ET Q q 0 0 0 rg BT 553.68 46.10 Td (of ) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 66.62 742.10 Td (states ) Tj ET Q q 0 0 0 rg BT 93.24 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 105.42 742.10 Td (which ) Tj ET Q q 0 0 0 rg BT 134.26 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 150.88 742.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 193.60 742.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 245.22 742.10 Td (are ) Tj ET Q q 0 0 0 rg BT 261.83 742.10 Td (domiciled ) Tj ET Q q 0 0 0 rg BT 306.23 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 325.07 742.10 Td (commercially ) Tj ET Q q 0 0 0 rg BT 384.45 742.10 Td (domiciled ) Tj ET Q q 0 0 0 rg BT 428.84 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 447.68 742.10 Td (may ) Tj ET Q q 0 0 0 rg BT 469.30 742.10 Td (require ) Tj ET Q q 0 0 0 rg BT 502.02 742.10 Td (pre-acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (notification ) Tj ET Q q 0 0 0 rg BT 99.10 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 109.88 730.10 Td (other ) Tj ET Q q 0 0 0 rg BT 133.43 730.10 Td (states. ) Tj ET Q q 0 0 0 rg BT 161.15 730.10 Td (Obtaining ) Tj ET Q q 0 0 0 rg BT 204.15 730.10 Td (these ) Tj ET Q q 0 0 0 rg BT 227.69 730.10 Td (approvals ) Tj ET Q q 0 0 0 rg BT 269.57 730.10 Td (could ) Tj ET Q q 0 0 0 rg BT 294.79 730.10 Td (result ) Tj ET Q q 0 0 0 rg BT 320.01 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 330.79 730.10 Td (material ) Tj ET Q q 0 0 0 rg BT 366.55 730.10 Td (delays ) Tj ET Q q 0 0 0 rg BT 395.10 730.10 Td (or ) Tj ET Q q 0 0 0 rg BT 406.43 730.10 Td (deter ) Tj ET Q q 0 0 0 rg BT 429.42 730.10 Td (any ) Tj ET Q q 0 0 0 rg BT 446.86 730.10 Td (such ) Tj ET Q q 0 0 0 rg BT 468.19 730.10 Td (transaction. ) Tj ET Q q 0 0 0 rg BT 517.57 730.10 Td (Regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 104.60 718.10 Td (could ) Tj ET Q q 0 0 0 rg BT 129.21 718.10 Td (make ) Tj ET Q q 0 0 0 rg BT 153.26 718.10 Td (a ) Tj ET Q q 0 0 0 rg BT 160.09 718.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 197.47 718.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 243.75 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.47 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 270.20 718.10 Td (company ) Tj ET Q q 0 0 0 rg BT 309.25 718.10 Td (more ) Tj ET Q q 0 0 0 rg BT 332.19 718.10 Td (dif) Tj ET Q q 0 0 0 rg BT 343.12 718.10 Td (ficult ) Tj ET Q q 0 0 0 rg BT 366.61 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 383.45 718.10 Td (may ) Tj ET Q q 0 0 0 rg BT 403.06 718.10 Td (prevent ) Tj ET Q q 0 0 0 rg BT 435.44 718.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 488.37 718.10 Td (from ) Tj ET Q q 0 0 0 rg BT 510.20 718.10 Td (receiving ) Tj ET Q q 0 0 0 rg BT 549.80 718.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 80.17 706.10 Td (from ) Tj ET Q q 0 0 0 rg BT 102.01 706.10 Td (any ) Tj ET Q q 0 0 0 rg BT 118.85 706.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 157.36 706.10 Td (over ) Tj ET Q q 0 0 0 rg BT 177.53 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 192.15 706.10 Td (market ) Tj ET Q q 0 0 0 rg BT 222.32 706.10 Td (price ) Tj ET Q q 0 0 0 rg BT 244.71 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 255.44 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 271.18 706.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 298.57 706.10 Td (of) Tj ET Q q 0 0 0 rg BT 306.72 706.10 Td (fered ) Tj ET Q q 0 0 0 rg BT 329.66 706.10 Td (by ) Tj ET Q q 0 0 0 rg BT 342.06 706.10 Td (a ) Tj ET Q q 0 0 0 rg BT 348.91 706.10 Td (bidder ) Tj ET Q q 0 0 0 rg BT 376.86 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 387.04 706.10 Td (a ) Tj ET Q q 0 0 0 rg BT 393.88 706.10 Td (takeover ) Tj ET Q q 0 0 0 rg BT 430.71 706.10 Td (context. ) Tj ET Q q 0 0 0 rg BT 465.05 706.10 Td (Even ) Tj ET Q q 0 0 0 rg BT 488.00 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 498.18 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 512.80 706.10 Td (absence ) Tj ET Q q 0 0 0 rg BT 546.85 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 557.58 706.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (takeover ) Tj ET Q q 0 0 0 rg BT 86.20 694.10 Td (attempt, ) Tj ET Q q 0 0 0 rg BT 120.46 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 134.45 694.10 Td (existence ) Tj ET Q q 0 0 0 rg BT 173.42 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.53 694.10 Td (these ) Tj ET Q q 0 0 0 rg BT 205.84 694.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 249.29 694.10 Td (may ) Tj ET Q q 0 0 0 rg BT 268.28 694.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 308.36 694.10 Td (af) Tj ET Q q 0 0 0 rg BT 315.95 694.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 332.71 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 346.70 694.10 Td (prevailing ) Tj ET Q q 0 0 0 rg BT 389.01 694.10 Td (market ) Tj ET Q q 0 0 0 rg BT 418.55 694.10 Td (price ) Tj ET Q q 0 0 0 rg BT 440.31 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 450.41 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 465.51 694.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 492.28 694.10 Td (if ) Tj ET Q q 0 0 0 rg BT 500.16 694.10 Td (they ) Tj ET Q q 0 0 0 rg BT 519.15 694.10 Td (are ) Tj ET Q q 0 0 0 rg BT 533.13 694.10 Td (viewed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (as ) Tj ET Q q 0 0 0 rg BT 60.83 682.10 Td (discouraging ) Tj ET Q q 0 0 0 rg BT 114.99 682.10 Td (takeover ) Tj ET Q q 0 0 0 rg BT 151.91 682.10 Td (attempts ) Tj ET Q q 0 0 0 rg BT 188.29 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 198.57 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 213.29 682.10 Td (future. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Market ) Tj ET Q q 0 0 0 rg BT 84.71 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 103.33 658.10 Td (Competition ) Tj ET Q q 0 0 0 rg BT 159.16 658.10 Td (Risks) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Because ) Tj ET Q q 0 0 0 rg BT 87.67 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 103.68 634.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 148.03 634.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 200.16 634.10 Td (are ) Tj ET Q q 0 0 0 rg BT 216.72 634.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 268.27 634.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 317.61 634.10 Td (insurers, ) Tj ET Q q 0 0 0 rg BT 357.25 634.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 403.27 634.10 Td (in ) Tj ET Q q 0 0 0 rg BT 414.84 634.10 Td (that ) Tj ET Q q 0 0 0 rg BT 434.19 634.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 471.32 634.10 Td (could ) Tj ET Q q 0 0 0 rg BT 497.33 634.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 538.87 634.10 Td (af) Tj ET Q q 0 0 0 rg BT 547.02 634.10 Td (fect ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (their ) Tj ET Q q 0 0 0 rg BT 71.95 622.10 Td (business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.22 598.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 104.77 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 115.77 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 130.66 598.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 154.44 598.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 197.10 598.10 Td (written ) Tj ET Q q 0 0 0 rg BT 228.10 598.10 Td (by ) Tj ET Q q 0 0 0 rg BT 240.77 598.10 Td (our ) Tj ET Q q 0 0 0 rg BT 256.77 598.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 297.75 598.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 347.64 598.10 Td (are ) Tj ET Q q 0 0 0 rg BT 362.52 598.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 404.05 598.10 Td (from ) Tj ET Q q 0 0 0 rg BT 426.16 598.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 476.03 598.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 523.69 598.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (policies. ) Tj ET Q q 0 0 0 rg BT 86.24 586.10 Td (Adverse ) Tj ET Q q 0 0 0 rg BT 122.93 586.10 Td (developments ) Tj ET Q q 0 0 0 rg BT 181.85 586.10 Td (in ) Tj ET Q q 0 0 0 rg BT 193.01 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.60 586.10 Td (market ) Tj ET Q q 0 0 0 rg BT 239.75 586.10 Td (for ) Tj ET Q q 0 0 0 rg BT 254.78 586.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 305.36 586.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 353.73 586.10 Td (insurance, ) Tj ET Q q 0 0 0 rg BT 397.92 586.10 Td (including ) Tj ET Q q 0 0 0 rg BT 439.07 586.10 Td (those ) Tj ET Q q 0 0 0 rg BT 463.56 586.10 Td (which ) Tj ET Q q 0 0 0 rg BT 491.38 586.10 Td (could ) Tj ET Q q 0 0 0 rg BT 516.97 586.10 Td (result ) Tj ET Q q 0 0 0 rg BT 542.56 586.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 86.74 574.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 121.26 574.10 Td (in ) Tj ET Q q 0 0 0 rg BT 130.79 574.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 179.74 574.10 Td (and ) Tj ET Q q 0 0 0 rg BT 195.93 574.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 236.56 574.10 Td (activity) Tj ET Q q 0 0 0 rg BT 265.90 574.10 Td (, ) Tj ET Q q 0 0 0 rg BT 270.15 574.10 Td (could ) Tj ET Q q 0 0 0 rg BT 294.12 574.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 318.08 574.10 Td (our ) Tj ET Q q 0 0 0 rg BT 333.16 574.10 Td (results ) Tj ET Q q 0 0 0 rg BT 361.03 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 371.11 574.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 414.52 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 424.05 574.10 Td (suf) Tj ET Q q 0 0 0 rg BT 436.09 574.10 Td (fer) Tj ET Q q 0 0 0 rg BT 446.64 574.10 Td (. ) Tj ET Q q 0 0 0 rg BT 450.76 574.10 Td (The ) Tj ET Q q 0 0 0 rg BT 468.06 574.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 517.01 574.10 Td (automobile ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 90.18 562.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 124.83 562.10 Td (is ) Tj ET Q q 0 0 0 rg BT 133.36 562.10 Td (cyclical. ) Tj ET Q q 0 0 0 rg BT 168.82 562.10 Td (Historically) Tj ET Q q 0 0 0 rg BT 215.38 562.10 Td (, ) Tj ET Q q 0 0 0 rg BT 219.75 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 233.83 562.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 268.48 562.10 Td (has ) Tj ET Q q 0 0 0 rg BT 283.67 562.10 Td (been ) Tj ET Q q 0 0 0 rg BT 304.42 562.10 Td (characterized ) Tj ET Q q 0 0 0 rg BT 359.57 562.10 Td (by ) Tj ET Q q 0 0 0 rg BT 371.44 562.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 402.74 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 412.94 562.10 Td (price ) Tj ET Q q 0 0 0 rg BT 434.79 562.10 Td (competition ) Tj ET Q q 0 0 0 rg BT 484.43 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 500.73 562.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 528.70 562.10 Td (capacity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (followed ) Tj ET Q q 0 0 0 rg BT 87.55 550.10 Td (by ) Tj ET Q q 0 0 0 rg BT 99.55 550.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 130.99 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 141.32 550.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 168.87 550.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 206.97 550.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 227.85 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 244.29 550.10 Td (shortages ) Tj ET Q q 0 0 0 rg BT 284.06 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 294.39 550.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 348.05 550.10 Td (capacity) Tj ET Q q 0 0 0 rg BT 380.71 550.10 Td (. ) Tj ET Q q 0 0 0 rg BT 385.06 550.10 Td (These ) Tj ET Q q 0 0 0 rg BT 410.94 550.10 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 460.15 550.10 Td (in ) Tj ET Q q 0 0 0 rg BT 469.93 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 484.15 550.10 Td (business ) Tj ET Q q 0 0 0 rg BT 520.04 550.10 Td (cycle ) Tj ET Q q 0 0 0 rg BT 543.14 550.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (negatively ) Tj ET Q q 0 0 0 rg BT 93.20 538.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 131.40 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 147.39 538.10 Td (could ) Tj ET Q q 0 0 0 rg BT 171.16 538.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 207.15 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 216.48 538.10 Td (negatively ) Tj ET Q q 0 0 0 rg BT 259.68 538.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 288.44 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 302.21 538.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 339.30 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 349.18 538.10 Td (our ) Tj ET Q q 0 0 0 rg BT 364.07 538.10 Td (company) Tj ET Q q 0 0 0 rg BT 400.07 538.10 Td (. ) Tj ET Q q 0 0 0 rg BT 404.01 538.10 Td (The ) Tj ET Q q 0 0 0 rg BT 421.11 538.10 Td (results ) Tj ET Q q 0 0 0 rg BT 448.77 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 458.65 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.42 538.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 512.29 538.10 Td (subsidiaries, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.27 526.10 Td (in ) Tj ET Q q 0 0 0 rg BT 77.88 526.10 Td (turn, ) Tj ET Q q 0 0 0 rg BT 99.31 526.10 Td (us, ) Tj ET Q q 0 0 0 rg BT 113.54 526.10 Td (may ) Tj ET Q q 0 0 0 rg BT 133.58 526.10 Td (also ) Tj ET Q q 0 0 0 rg BT 152.52 526.10 Td (be ) Tj ET Q q 0 0 0 rg BT 164.79 526.10 Td (af) Tj ET Q q 0 0 0 rg BT 172.38 526.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 199.63 526.10 Td (by ) Tj ET Q q 0 0 0 rg BT 212.46 526.10 Td (risks, ) Tj ET Q q 0 0 0 rg BT 236.68 526.10 Td (to ) Tj ET Q q 0 0 0 rg BT 247.29 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 262.33 526.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 289.60 526.10 Td (they ) Tj ET Q q 0 0 0 rg BT 309.64 526.10 Td (are ) Tj ET Q q 0 0 0 rg BT 324.68 526.10 Td (covered ) Tj ET Q q 0 0 0 rg BT 359.16 526.10 Td (by ) Tj ET Q q 0 0 0 rg BT 371.98 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 387.03 526.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 428.18 526.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 462.11 526.10 Td (we ) Tj ET Q q 0 0 0 rg BT 476.60 526.10 Td (issue, ) Tj ET Q q 0 0 0 rg BT 501.93 526.10 Td (that ) Tj ET Q q 0 0 0 rg BT 519.75 526.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 549.79 526.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 100.08 514.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 147.95 514.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 183.61 514.10 Td (related ) Tj ET Q q 0 0 0 rg BT 213.69 514.10 Td (to ) Tj ET Q q 0 0 0 rg BT 224.35 514.10 Td (severe ) Tj ET Q q 0 0 0 rg BT 252.76 514.10 Td (weather ) Tj ET Q q 0 0 0 rg BT 287.29 514.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 334.33 514.10 Td (floods, ) Tj ET Q q 0 0 0 rg BT 364.71 514.10 Td (hurricanes, ) Tj ET Q q 0 0 0 rg BT 411.74 514.10 Td (tornadoes, ) Tj ET Q q 0 0 0 rg BT 456.00 514.10 Td (earthquakes ) Tj ET Q q 0 0 0 rg BT 506.63 514.10 Td (and ) Tj ET Q q 0 0 0 rg BT 523.95 514.10 Td (tsunamis, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (as ) Tj ET Q q 0 0 0 rg BT 60.67 502.10 Td (well ) Tj ET Q q 0 0 0 rg BT 80.23 502.10 Td (as ) Tj ET Q q 0 0 0 rg BT 90.91 502.10 Td (explosions, ) Tj ET Q q 0 0 0 rg BT 138.53 502.10 Td (terrorist ) Tj ET Q q 0 0 0 rg BT 172.53 502.10 Td (attacks ) Tj ET Q q 0 0 0 rg BT 202.64 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 219.42 502.10 Td (riots. ) Tj ET Q q 0 0 0 rg BT 241.87 502.10 Td (The ) Tj ET Q q 0 0 0 rg BT 259.76 502.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 300.42 502.10 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 350.23 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 352.57 502.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 402.11 502.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 449.44 502.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 490.10 502.10 Td (business ) Tj ET Q q 0 0 0 rg BT 526.34 502.10 Td (may ) Tj ET Q q 0 0 0 rg BT 545.90 502.10 Td (also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (be ) Tj ET Q q 0 0 0 rg BT 61.61 490.10 Td (af) Tj ET Q q 0 0 0 rg BT 69.20 490.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 95.80 490.10 Td (by ) Tj ET Q q 0 0 0 rg BT 107.97 490.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 126.25 490.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 152.86 490.10 Td (that ) Tj ET Q q 0 0 0 rg BT 170.03 490.10 Td (negatively ) Tj ET Q q 0 0 0 rg BT 213.85 490.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 243.24 490.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 290.36 490.10 Td (, ) Tj ET Q q 0 0 0 rg BT 295.03 490.10 Td (such ) Tj ET Q q 0 0 0 rg BT 315.53 490.10 Td (as ) Tj ET Q q 0 0 0 rg BT 326.04 490.10 Td (a ) Tj ET Q q 0 0 0 rg BT 332.65 490.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 377.59 490.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 418.64 490.10 Td (downturn, ) Tj ET Q q 0 0 0 rg BT 461.64 490.10 Td (inflation ) Tj ET Q q 0 0 0 rg BT 497.70 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 507.65 490.10 Td (vehicle ) Tj ET Q q 0 0 0 rg BT 538.69 490.10 Td (repair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 74.34 478.10 Td (vehicle ) Tj ET Q q 0 0 0 rg BT 105.05 478.10 Td (replacement ) Tj ET Q q 0 0 0 rg BT 155.75 478.10 Td (parts ) Tj ET Q q 0 0 0 rg BT 177.03 478.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 201.37 478.10 Td (used ) Tj ET Q q 0 0 0 rg BT 221.54 478.10 Td (vehicle ) Tj ET Q q 0 0 0 rg BT 252.26 478.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 280.47 478.10 Td (fuel ) Tj ET Q q 0 0 0 rg BT 297.86 478.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 319.70 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 335.98 478.10 Td (medical ) Tj ET Q q 0 0 0 rg BT 369.47 478.10 Td (care ) Tj ET Q q 0 0 0 rg BT 387.96 478.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 412.30 478.10 Td (Increased ) Tj ET Q q 0 0 0 rg BT 452.45 478.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 474.29 478.10 Td (related ) Tj ET Q q 0 0 0 rg BT 503.33 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 512.95 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 527.01 478.10 Td (handling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.95 466.10 Td (litigation ) Tj ET Q q 0 0 0 rg BT 105.58 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 116.42 466.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 145.04 466.10 Td (may ) Tj ET Q q 0 0 0 rg BT 164.77 466.10 Td (also ) Tj ET Q q 0 0 0 rg BT 183.39 466.10 Td (negatively ) Tj ET Q q 0 0 0 rg BT 227.56 466.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 257.29 466.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 304.40 466.10 Td (. ) Tj ET Q q 0 0 0 rg BT 309.42 466.10 Td ( ) Tj ET Q q 0 0 0 rg BT 311.93 466.10 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 343.87 466.10 Td (business ) Tj ET Q q 0 0 0 rg BT 380.28 466.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 425.01 466.10 Td (written ) Tj ET Q q 0 0 0 rg BT 455.85 466.10 Td (by ) Tj ET Q q 0 0 0 rg BT 468.36 466.10 Td (us ) Tj ET Q q 0 0 0 rg BT 479.77 466.10 Td (also ) Tj ET Q q 0 0 0 rg BT 498.39 466.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 534.23 466.10 Td (private ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (passenger ) Tj ET Q q 0 0 0 rg BT 91.28 454.10 Td (auto, ) Tj ET Q q 0 0 0 rg BT 112.84 454.10 Td (surety ) Tj ET Q q 0 0 0 rg BT 139.13 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 155.42 454.10 Td (other ) Tj ET Q q 0 0 0 rg BT 177.81 454.10 Td (P&C ) Tj ET Q q 0 0 0 rg BT 199.67 454.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 239.83 454.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 278.07 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 279.51 454.10 Td (Adverse ) Tj ET Q q 0 0 0 rg BT 314.68 454.10 Td (developments ) Tj ET Q q 0 0 0 rg BT 372.07 454.10 Td (relative ) Tj ET Q q 0 0 0 rg BT 403.90 454.10 Td (to ) Tj ET Q q 0 0 0 rg BT 413.53 454.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 457.59 454.10 Td (written ) Tj ET Q q 0 0 0 rg BT 487.76 454.10 Td (or ) Tj ET Q q 0 0 0 rg BT 497.94 454.10 Td (current ) Tj ET Q q 0 0 0 rg BT 528.11 454.10 Td (business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (could ) Tj ET Q q 0 0 0 rg BT 74.72 442.10 Td (have ) Tj ET Q q 0 0 0 rg BT 96.09 442.10 Td (a ) Tj ET Q q 0 0 0 rg BT 103.03 442.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 139.40 442.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 169.12 442.10 Td (on ) Tj ET Q q 0 0 0 rg BT 181.62 442.10 Td (our ) Tj ET Q q 0 0 0 rg BT 197.45 442.10 Td (results.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.44 418.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 111.90 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 129.80 418.10 Td (related ) Tj ET Q q 0 0 0 rg BT 160.46 418.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 206.14 418.10 Td (in ) Tj ET Q q 0 0 0 rg BT 216.82 418.10 Td (which ) Tj ET Q q 0 0 0 rg BT 244.16 418.10 Td (we ) Tj ET Q q 0 0 0 rg BT 257.60 418.10 Td (operate ) Tj ET Q q 0 0 0 rg BT 290.49 418.10 Td (may ) Tj ET Q q 0 0 0 rg BT 310.04 418.10 Td (be ) Tj ET Q q 0 0 0 rg BT 321.81 418.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 353.04 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 363.15 418.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 398.81 418.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 435.58 418.10 Td (publicity ) Tj ET Q q 0 0 0 rg BT 473.47 418.10 Td (which ) Tj ET Q q 0 0 0 rg BT 500.81 418.10 Td (may ) Tj ET Q q 0 0 0 rg BT 520.36 418.10 Td (negatively ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 80.27 406.10 Td (our ) Tj ET Q q 0 0 0 rg BT 97.23 406.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 136.95 406.10 Td (results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.47 382.10 Td (products ) Tj ET Q q 0 0 0 rg BT 103.83 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 120.19 382.10 Td (services ) Tj ET Q q 0 0 0 rg BT 154.32 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.58 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.71 382.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 218.95 382.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 268.09 382.10 Td (are ) Tj ET Q q 0 0 0 rg BT 282.22 382.10 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 324.69 382.10 Td (distributed ) Tj ET Q q 0 0 0 rg BT 369.39 382.10 Td (to ) Tj ET Q q 0 0 0 rg BT 379.09 382.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 421.56 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 437.93 382.10 Td (business ) Tj ET Q q 0 0 0 rg BT 473.74 382.10 Td (customers. ) Tj ET Q q 0 0 0 rg BT 518.71 382.10 Td ( ) Tj ET Q q 0 0 0 rg BT 520.63 382.10 Td (From ) Tj ET Q q 0 0 0 rg BT 544.23 382.10 Td (time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.34 370.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 83.17 370.10 Td (consumer ) Tj ET Q q 0 0 0 rg BT 124.60 370.10 Td (advocacy ) Tj ET Q q 0 0 0 rg BT 164.92 370.10 Td (groups ) Tj ET Q q 0 0 0 rg BT 194.70 370.10 Td (or ) Tj ET Q q 0 0 0 rg BT 205.59 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 220.36 370.10 Td (media ) Tj ET Q q 0 0 0 rg BT 247.35 370.10 Td (may ) Tj ET Q q 0 0 0 rg BT 267.13 370.10 Td (focus ) Tj ET Q q 0 0 0 rg BT 291.35 370.10 Td (attention ) Tj ET Q q 0 0 0 rg BT 328.90 370.10 Td (on ) Tj ET Q q 0 0 0 rg BT 341.46 370.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 382.33 370.10 Td (products ) Tj ET Q q 0 0 0 rg BT 419.33 370.10 Td (and ) Tj ET Q q 0 0 0 rg BT 436.32 370.10 Td (services, ) Tj ET Q q 0 0 0 rg BT 473.59 370.10 Td (thereby ) Tj ET Q q 0 0 0 rg BT 506.13 370.10 Td (subjecting ) Tj ET Q q 0 0 0 rg BT 549.79 370.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 85.18 358.10 Td (to ) Tj ET Q q 0 0 0 rg BT 95.35 358.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 130.51 358.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 166.78 358.10 Td (publicity) Tj ET Q q 0 0 0 rg BT 201.68 358.10 Td (. ) Tj ET Q q 0 0 0 rg BT 206.41 358.10 Td (W) Tj ET Q q 0 0 0 rg BT 215.05 358.10 Td (e ) Tj ET Q q 0 0 0 rg BT 221.88 358.10 Td (also ) Tj ET Q q 0 0 0 rg BT 240.39 358.10 Td (may ) Tj ET Q q 0 0 0 rg BT 260.00 358.10 Td (be ) Tj ET Q q 0 0 0 rg BT 271.84 358.10 Td (negatively ) Tj ET Q q 0 0 0 rg BT 315.89 358.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 354.93 358.10 Td (if ) Tj ET Q q 0 0 0 rg BT 363.44 358.10 Td (participants ) Tj ET Q q 0 0 0 rg BT 412.49 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 422.66 358.10 Td (one ) Tj ET Q q 0 0 0 rg BT 439.50 358.10 Td (or ) Tj ET Q q 0 0 0 rg BT 450.23 358.10 Td (more ) Tj ET Q q 0 0 0 rg BT 473.17 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 483.90 358.10 Td (our ) Tj ET Q q 0 0 0 rg BT 499.63 358.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 533.68 358.10 Td (engage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.17 346.10 Td (practices ) Tj ET Q q 0 0 0 rg BT 98.09 346.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 135.47 346.10 Td (in ) Tj ET Q q 0 0 0 rg BT 145.63 346.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 185.78 346.10 Td (public ) Tj ET Q q 0 0 0 rg BT 213.16 346.10 Td (attention ) Tj ET Q q 0 0 0 rg BT 250.54 346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 260.70 346.10 Td (our ) Tj ET Q q 0 0 0 rg BT 276.42 346.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 315.20 346.10 Td (Negative ) Tj ET Q q 0 0 0 rg BT 353.68 346.10 Td (publicity ) Tj ET Q q 0 0 0 rg BT 391.62 346.10 Td (may ) Tj ET Q q 0 0 0 rg BT 411.23 346.10 Td (also ) Tj ET Q q 0 0 0 rg BT 429.72 346.10 Td (result ) Tj ET Q q 0 0 0 rg BT 454.33 346.10 Td (in ) Tj ET Q q 0 0 0 rg BT 464.49 346.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 504.63 346.10 Td (regulation ) Tj ET Q q 0 0 0 rg BT 547.56 346.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (legislative ) Tj ET Q q 0 0 0 rg BT 93.62 334.10 Td (scrutiny ) Tj ET Q q 0 0 0 rg BT 128.36 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 139.22 334.10 Td (practices ) Tj ET Q q 0 0 0 rg BT 177.27 334.10 Td (in ) Tj ET Q q 0 0 0 rg BT 187.57 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 202.31 334.10 Td (P&C ) Tj ET Q q 0 0 0 rg BT 224.85 334.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 265.69 334.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 300.99 334.10 Td (as ) Tj ET Q q 0 0 0 rg BT 311.84 334.10 Td (well ) Tj ET Q q 0 0 0 rg BT 331.58 334.10 Td (as ) Tj ET Q q 0 0 0 rg BT 342.43 334.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 382.71 334.10 Td (litigation. ) Tj ET Q q 0 0 0 rg BT 423.66 334.10 Td (These ) Tj ET Q q 0 0 0 rg BT 450.06 334.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 479.79 334.10 Td (may ) Tj ET Q q 0 0 0 rg BT 499.53 334.10 Td (further ) Tj ET Q q 0 0 0 rg BT 529.26 334.10 Td (increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (our ) Tj ET Q q 0 0 0 rg BT 66.39 322.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 89.45 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 100.84 322.10 Td (doing ) Tj ET Q q 0 0 0 rg BT 126.68 322.10 Td (business ) Tj ET Q q 0 0 0 rg BT 163.63 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 181.13 322.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 222.51 322.10 Td (af) Tj ET Q q 0 0 0 rg BT 230.10 322.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 248.14 322.10 Td (our ) Tj ET Q q 0 0 0 rg BT 264.53 322.10 Td (profitability ) Tj ET Q q 0 0 0 rg BT 315.36 322.10 Td (by ) Tj ET Q q 0 0 0 rg BT 328.42 322.10 Td (impeding ) Tj ET Q q 0 0 0 rg BT 369.26 322.10 Td (our ) Tj ET Q q 0 0 0 rg BT 385.65 322.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 414.26 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 425.10 322.10 Td (market ) Tj ET Q q 0 0 0 rg BT 455.92 322.10 Td (our ) Tj ET Q q 0 0 0 rg BT 472.31 322.10 Td (products ) Tj ET Q q 0 0 0 rg BT 509.81 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 527.31 322.10 Td (services, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (requiring ) Tj ET Q q 0 0 0 rg BT 89.16 310.10 Td (us ) Tj ET Q q 0 0 0 rg BT 100.55 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 110.83 310.10 Td (change ) Tj ET Q q 0 0 0 rg BT 141.64 310.10 Td (our ) Tj ET Q q 0 0 0 rg BT 157.47 310.10 Td (products ) Tj ET Q q 0 0 0 rg BT 194.41 310.10 Td (or ) Tj ET Q q 0 0 0 rg BT 205.24 310.10 Td (services ) Tj ET Q q 0 0 0 rg BT 239.95 310.10 Td (or ) Tj ET Q q 0 0 0 rg BT 250.78 310.10 Td (by ) Tj ET Q q 0 0 0 rg BT 263.28 310.10 Td (increasing ) Tj ET Q q 0 0 0 rg BT 306.87 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.59 310.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 365.18 310.10 Td (burdens ) Tj ET Q q 0 0 0 rg BT 399.34 310.10 Td (under ) Tj ET Q q 0 0 0 rg BT 424.61 310.10 Td (which ) Tj ET Q q 0 0 0 rg BT 451.55 310.10 Td (we ) Tj ET Q q 0 0 0 rg BT 465.71 310.10 Td (operate.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.78 286.10 Td (highly ) Tj ET Q q 0 0 0 rg BT 97.56 286.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 146.87 286.10 Td (environment ) Tj ET Q q 0 0 0 rg BT 201.77 286.10 Td (in ) Tj ET Q q 0 0 0 rg BT 212.78 286.10 Td (which ) Tj ET Q q 0 0 0 rg BT 240.45 286.10 Td (we ) Tj ET Q q 0 0 0 rg BT 254.23 286.10 Td (operate ) Tj ET Q q 0 0 0 rg BT 287.44 286.10 Td (could ) Tj ET Q q 0 0 0 rg BT 312.89 286.10 Td (have ) Tj ET Q q 0 0 0 rg BT 335.00 286.10 Td (an ) Tj ET Q q 0 0 0 rg BT 348.22 286.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 381.99 286.10 Td (ef) Tj ET Q q 0 0 0 rg BT 389.58 286.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 407.23 286.10 Td (on ) Tj ET Q q 0 0 0 rg BT 420.46 286.10 Td (our ) Tj ET Q q 0 0 0 rg BT 437.58 286.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 477.76 286.10 Td (results ) Tj ET Q q 0 0 0 rg BT 507.66 286.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.66 286.10 Td (operations ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 68.06 274.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 107.79 274.10 Td (condition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.32 250.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 116.29 250.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 163.06 250.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 203.15 250.10 Td (business ) Tj ET Q q 0 0 0 rg BT 238.82 250.10 Td (is ) Tj ET Q q 0 0 0 rg BT 247.26 250.10 Td (highly ) Tj ET Q q 0 0 0 rg BT 274.59 250.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 323.57 250.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 342.29 250.10 Td (except ) Tj ET Q q 0 0 0 rg BT 370.16 250.10 Td (for ) Tj ET Q q 0 0 0 rg BT 383.59 250.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 426.46 250.10 Td (considerations, ) Tj ET Q q 0 0 0 rg BT 488.50 250.10 Td (there ) Tj ET Q q 0 0 0 rg BT 510.26 250.10 Td (are ) Tj ET Q q 0 0 0 rg BT 524.24 250.10 Td (relatively ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (few ) Tj ET Q q 0 0 0 rg BT 66.86 238.10 Td (barriers ) Tj ET Q q 0 0 0 rg BT 99.26 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 108.90 238.10 Td (entry) Tj ET Q q 0 0 0 rg BT 128.80 238.10 Td (. ) Tj ET Q q 0 0 0 rg BT 133.16 238.10 Td (Many ) Tj ET Q q 0 0 0 rg BT 158.36 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.55 238.10 Td (our ) Tj ET Q q 0 0 0 rg BT 183.75 238.10 Td (competitors ) Tj ET Q q 0 0 0 rg BT 232.83 238.10 Td (are ) Tj ET Q q 0 0 0 rg BT 246.90 238.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 299.32 238.10 Td (lar) Tj ET Q q 0 0 0 rg BT 309.68 238.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 324.32 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 340.62 238.10 Td (may ) Tj ET Q q 0 0 0 rg BT 359.70 238.10 Td (enjoy ) Tj ET Q q 0 0 0 rg BT 383.78 238.10 Td (better ) Tj ET Q q 0 0 0 rg BT 408.41 238.10 Td (name ) Tj ET Q q 0 0 0 rg BT 431.93 238.10 Td (recognition, ) Tj ET Q q 0 0 0 rg BT 481.84 238.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 534.26 238.10 Td (greater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.93 226.10 Td (resources, ) Tj ET Q q 0 0 0 rg BT 131.14 226.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 159.63 226.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 189.80 226.10 Td (by ) Tj ET Q q 0 0 0 rg BT 202.75 226.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 229.02 226.10 Td (agencies, ) Tj ET Q q 0 0 0 rg BT 268.90 226.10 Td (broader ) Tj ET Q q 0 0 0 rg BT 302.38 226.10 Td (and ) Tj ET Q q 0 0 0 rg BT 319.77 226.10 Td (more ) Tj ET Q q 0 0 0 rg BT 343.27 226.10 Td (diversified ) Tj ET Q q 0 0 0 rg BT 388.98 226.10 Td (product ) Tj ET Q q 0 0 0 rg BT 422.48 226.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 444.31 226.10 Td (and ) Tj ET Q q 0 0 0 rg BT 461.70 226.10 Td (more ) Tj ET Q q 0 0 0 rg BT 485.20 226.10 Td (widespread ) Tj ET Q q 0 0 0 rg BT 533.68 226.10 Td (agency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (relationships ) Tj ET Q q 0 0 0 rg BT 103.10 214.10 Td (than ) Tj ET Q q 0 0 0 rg BT 122.32 214.10 Td (us. ) Tj ET Q q 0 0 0 rg BT 135.71 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 137.71 214.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 155.26 214.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 208.91 214.10 Td (profits ) Tj ET Q q 0 0 0 rg BT 237.02 214.10 Td (could ) Tj ET Q q 0 0 0 rg BT 261.23 214.10 Td (be ) Tj ET Q q 0 0 0 rg BT 272.67 214.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 312.98 214.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 351.63 214.10 Td (if ) Tj ET Q q 0 0 0 rg BT 359.74 214.10 Td (new ) Tj ET Q q 0 0 0 rg BT 378.40 214.10 Td (entrants ) Tj ET Q q 0 0 0 rg BT 412.05 214.10 Td (or ) Tj ET Q q 0 0 0 rg BT 422.38 214.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 456.04 214.10 Td (competitors ) Tj ET Q q 0 0 0 rg BT 505.25 214.10 Td (try ) Tj ET Q q 0 0 0 rg BT 518.36 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 528.14 214.10 Td (compete ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (with ) Tj ET Q q 0 0 0 rg BT 69.53 202.10 Td (our ) Tj ET Q q 0 0 0 rg BT 84.61 202.10 Td (products, ) Tj ET Q q 0 0 0 rg BT 123.30 202.10 Td (services ) Tj ET Q q 0 0 0 rg BT 157.26 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 173.45 202.10 Td (programs ) Tj ET Q q 0 0 0 rg BT 212.97 202.10 Td (or ) Tj ET Q q 0 0 0 rg BT 223.05 202.10 Td (of) Tj ET Q q 0 0 0 rg BT 231.20 202.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 244.05 202.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 273.58 202.10 Td (or ) Tj ET Q q 0 0 0 rg BT 283.66 202.10 Td (better ) Tj ET Q q 0 0 0 rg BT 308.18 202.10 Td (products ) Tj ET Q q 0 0 0 rg BT 344.37 202.10 Td (at ) Tj ET Q q 0 0 0 rg BT 353.34 202.10 Td (or ) Tj ET Q q 0 0 0 rg BT 363.42 202.10 Td (below ) Tj ET Q q 0 0 0 rg BT 389.61 202.10 Td (our ) Tj ET Q q 0 0 0 rg BT 404.69 202.10 Td (prices. ) Tj ET Q q 0 0 0 rg BT 432.82 202.10 Td (Insurers ) Tj ET Q q 0 0 0 rg BT 466.78 202.10 Td (in ) Tj ET Q q 0 0 0 rg BT 476.31 202.10 Td (our ) Tj ET Q q 0 0 0 rg BT 491.40 202.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 524.80 202.10 Td (generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (compete ) Tj ET Q q 0 0 0 rg BT 86.06 190.10 Td (on ) Tj ET Q q 0 0 0 rg BT 98.24 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 112.64 190.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 134.83 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 145.34 190.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 170.01 190.10 Td (consumer ) Tj ET Q q 0 0 0 rg BT 211.08 190.10 Td (recognition, ) Tj ET Q q 0 0 0 rg BT 261.30 190.10 Td (coverages ) Tj ET Q q 0 0 0 rg BT 303.46 190.10 Td (of) Tj ET Q q 0 0 0 rg BT 311.61 190.10 Td (fered, ) Tj ET Q q 0 0 0 rg BT 336.84 190.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 365.12 190.10 Td (handling, ) Tj ET Q q 0 0 0 rg BT 404.80 190.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 441.97 190.10 Td (stability) Tj ET Q q 0 0 0 rg BT 473.54 190.10 Td (, ) Tj ET Q q 0 0 0 rg BT 478.23 190.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 517.07 190.10 Td (service ) Tj ET Q q 0 0 0 rg BT 547.57 190.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (geographic ) Tj ET Q q 0 0 0 rg BT 97.44 178.10 Td (coverage. ) Tj ET Q q 0 0 0 rg BT 138.38 178.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 179.17 178.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 210.51 178.10 Td (is ) Tj ET Q q 0 0 0 rg BT 220.20 178.10 Td (influenced ) Tj ET Q q 0 0 0 rg BT 265.42 178.10 Td (to ) Tj ET Q q 0 0 0 rg BT 276.21 178.10 Td (some ) Tj ET Q q 0 0 0 rg BT 300.34 178.10 Td (degree ) Tj ET Q q 0 0 0 rg BT 330.00 178.10 Td (by ) Tj ET Q q 0 0 0 rg BT 343.02 178.10 Td (that ) Tj ET Q q 0 0 0 rg BT 361.03 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 372.37 178.10 Td (our ) Tj ET Q q 0 0 0 rg BT 388.72 178.10 Td (competitors, ) Tj ET Q q 0 0 0 rg BT 441.45 178.10 Td (it ) Tj ET Q q 0 0 0 rg BT 450.02 178.10 Td (is ) Tj ET Q q 0 0 0 rg BT 459.71 178.10 Td (not ) Tj ET Q q 0 0 0 rg BT 475.50 178.10 Td (in ) Tj ET Q q 0 0 0 rg BT 486.30 178.10 Td (our ) Tj ET Q q 0 0 0 rg BT 502.65 178.10 Td (best ) Tj ET Q q 0 0 0 rg BT 521.77 178.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 554.22 178.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (compete ) Tj ET Q q 0 0 0 rg BT 85.36 166.10 Td (solely ) Tj ET Q q 0 0 0 rg BT 110.74 166.10 Td (on ) Tj ET Q q 0 0 0 rg BT 122.22 166.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 146.20 166.10 Td (and ) Tj ET Q q 0 0 0 rg BT 162.12 166.10 Td (we ) Tj ET Q q 0 0 0 rg BT 175.27 166.10 Td (may ) Tj ET Q q 0 0 0 rg BT 193.98 166.10 Td (from ) Tj ET Q q 0 0 0 rg BT 214.90 166.10 Td (time ) Tj ET Q q 0 0 0 rg BT 234.17 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 243.43 166.10 Td (time ) Tj ET Q q 0 0 0 rg BT 262.69 166.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 307.48 166.10 Td (a ) Tj ET Q q 0 0 0 rg BT 313.41 166.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 330.46 166.10 Td (of ) Tj ET Q q 0 0 0 rg BT 340.28 166.10 Td (market ) Tj ET Q q 0 0 0 rg BT 369.53 166.10 Td (share ) Tj ET Q q 0 0 0 rg BT 392.12 166.10 Td (during ) Tj ET Q q 0 0 0 rg BT 419.71 166.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 450.64 166.10 Td (of ) Tj ET Q q 0 0 0 rg BT 460.46 166.10 Td (intense ) Tj ET Q q 0 0 0 rg BT 490.27 166.10 Td (price ) Tj ET Q q 0 0 0 rg BT 511.75 166.10 Td (competition. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.72 154.10 Td (business ) Tj ET Q q 0 0 0 rg BT 103.77 154.10 Td (could ) Tj ET Q q 0 0 0 rg BT 128.16 154.10 Td (be ) Tj ET Q q 0 0 0 rg BT 139.76 154.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 180.24 154.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 219.06 154.10 Td (by ) Tj ET Q q 0 0 0 rg BT 231.22 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 245.61 154.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 263.33 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 273.83 154.10 Td (business ) Tj ET Q q 0 0 0 rg BT 309.89 154.10 Td (to ) Tj ET Q q 0 0 0 rg BT 319.83 154.10 Td (competitors ) Tj ET Q q 0 0 0 rg BT 369.21 154.10 Td (of) Tj ET Q q 0 0 0 rg BT 377.36 154.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 403.40 154.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 452.77 154.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 493.25 154.10 Td (products ) Tj ET Q q 0 0 0 rg BT 529.86 154.10 Td (at ) Tj ET Q q 0 0 0 rg BT 539.24 154.10 Td (lower ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (prices. ) Tj ET Q q 0 0 0 rg BT 79.94 142.10 Td (This ) Tj ET Q q 0 0 0 rg BT 101.57 142.10 Td (competition ) Tj ET Q q 0 0 0 rg BT 153.18 142.10 Td (could ) Tj ET Q q 0 0 0 rg BT 179.25 142.10 Td (af) Tj ET Q q 0 0 0 rg BT 186.83 142.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 205.66 142.10 Td (our ) Tj ET Q q 0 0 0 rg BT 222.84 142.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 252.24 142.10 Td (to ) Tj ET Q q 0 0 0 rg BT 263.86 142.10 Td (attract ) Tj ET Q q 0 0 0 rg BT 292.69 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 310.97 142.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 337.58 142.10 Td (profitable ) Tj ET Q q 0 0 0 rg BT 380.30 142.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 420.54 142.10 Td ( ) Tj ET Q q 0 0 0 rg BT 424.38 142.10 Td (Pricing ) Tj ET Q q 0 0 0 rg BT 457.11 142.10 Td (sophistication ) Tj ET Q q 0 0 0 rg BT 516.51 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 534.80 142.10 Td (related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 104.37 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 121.52 130.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 164.77 130.10 Td (programs ) Tj ET Q q 0 0 0 rg BT 205.25 130.10 Td (use ) Tj ET Q q 0 0 0 rg BT 221.30 130.10 Td (a ) Tj ET Q q 0 0 0 rg BT 228.45 130.10 Td (number ) Tj ET Q q 0 0 0 rg BT 261.71 130.10 Td (of ) Tj ET Q q 0 0 0 rg BT 272.75 130.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 290.46 130.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 334.82 130.10 Td (factors. ) Tj ET Q q 0 0 0 rg BT 367.24 130.10 Td (For ) Tj ET Q q 0 0 0 rg BT 383.85 130.10 Td (auto ) Tj ET Q q 0 0 0 rg BT 403.78 130.10 Td (insurance, ) Tj ET Q q 0 0 0 rg BT 447.30 130.10 Td (these ) Tj ET Q q 0 0 0 rg BT 470.56 130.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 500.48 130.10 Td (can ) Tj ET Q q 0 0 0 rg BT 517.07 130.10 Td (include ) Tj ET Q q 0 0 0 rg BT 549.22 130.10 Td (but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.36 118.10 Td (not ) Tj ET Q q 0 0 0 rg BT 79.29 118.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 109.77 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 119.70 118.10 Td (vehicle ) Tj ET Q q 0 0 0 rg BT 150.72 118.10 Td (make, ) Tj ET Q q 0 0 0 rg BT 177.03 118.10 Td (model ) Tj ET Q q 0 0 0 rg BT 204.17 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 220.76 118.10 Td (year; ) Tj ET Q q 0 0 0 rg BT 242.90 118.10 Td (driver ) Tj ET Q q 0 0 0 rg BT 268.93 118.10 Td (age; ) Tj ET Q q 0 0 0 rg BT 287.73 118.10 Td (territory; ) Tj ET Q q 0 0 0 rg BT 325.42 118.10 Td (years ) Tj ET Q q 0 0 0 rg BT 348.67 118.10 Td (licensed; ) Tj ET Q q 0 0 0 rg BT 386.37 118.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 404.08 118.10 Td (history; ) Tj ET Q q 0 0 0 rg BT 436.79 118.10 Td (years ) Tj ET Q q 0 0 0 rg BT 460.04 118.10 Td (insured ) Tj ET Q q 0 0 0 rg BT 491.63 118.10 Td (with ) Tj ET Q q 0 0 0 rg BT 511.56 118.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 533.14 118.10 Td (carrier; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 72.47 106.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 106.61 106.10 Td (limits; ) Tj ET Q q 0 0 0 rg BT 135.21 106.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 157.68 106.10 Td (lapse ) Tj ET Q q 0 0 0 rg BT 181.25 106.10 Td (in ) Tj ET Q q 0 0 0 rg BT 192.07 106.10 Td (coverage; ) Tj ET Q q 0 0 0 rg BT 233.96 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 251.43 106.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 292.78 106.10 Td (scoring ) Tj ET Q q 0 0 0 rg BT 325.25 106.10 Td (based ) Tj ET Q q 0 0 0 rg BT 351.05 106.10 Td (on ) Tj ET Q q 0 0 0 rg BT 364.08 106.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 389.88 106.10 Td (report ) Tj ET Q q 0 0 0 rg BT 416.79 106.10 Td (information. ) Tj ET Q q 0 0 0 rg BT 469.31 106.10 Td (W) Tj ET Q q 0 0 0 rg BT 477.95 106.10 Td (e ) Tj ET Q q 0 0 0 rg BT 485.42 106.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 517.32 106.10 Td (our ) Tj ET Q q 0 0 0 rg BT 533.69 106.10 Td (pricing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (model ) Tj ET Q q 0 0 0 rg BT 77.12 94.10 Td (will ) Tj ET Q q 0 0 0 rg BT 94.80 94.10 Td (generate ) Tj ET Q q 0 0 0 rg BT 130.79 94.10 Td (future ) Tj ET Q q 0 0 0 rg BT 156.79 94.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 210.57 94.10 Td (profits, ) Tj ET Q q 0 0 0 rg BT 241.30 94.10 Td (however ) Tj ET Q q 0 0 0 rg BT 277.85 94.10 Td (past ) Tj ET Q q 0 0 0 rg BT 296.08 94.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 348.73 94.10 Td (is ) Tj ET Q q 0 0 0 rg BT 357.52 94.10 Td (not ) Tj ET Q q 0 0 0 rg BT 372.43 94.10 Td (a ) Tj ET Q q 0 0 0 rg BT 378.99 94.10 Td (perfect ) Tj ET Q q 0 0 0 rg BT 408.87 94.10 Td (indicator ) Tj ET Q q 0 0 0 rg BT 446.53 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 456.99 94.10 Td (future ) Tj ET Q q 0 0 0 rg BT 482.99 94.10 Td (driver ) Tj ET Q q 0 0 0 rg BT 508.99 94.10 Td (performance.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (If ) Tj ET Q q 0 0 0 rg BT 59.72 70.10 Td (we ) Tj ET Q q 0 0 0 rg BT 73.33 70.10 Td (are ) Tj ET Q q 0 0 0 rg BT 89.16 70.10 Td (not ) Tj ET Q q 0 0 0 rg BT 105.00 70.10 Td (able ) Tj ET Q q 0 0 0 rg BT 124.72 70.10 Td (to ) Tj ET Q q 0 0 0 rg BT 135.00 70.10 Td (attract ) Tj ET Q q 0 0 0 rg BT 164.16 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 182.22 70.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 209.17 70.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 262.23 70.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 291.40 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 309.46 70.10 Td (brokers, ) Tj ET Q q 0 0 0 rg BT 345.57 70.10 Td (our ) Tj ET Q q 0 0 0 rg BT 362.52 70.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 401.68 70.10 Td (could ) Tj ET Q q 0 0 0 rg BT 426.96 70.10 Td (be ) Tj ET Q q 0 0 0 rg BT 438.90 70.10 Td (negatively ) Tj ET Q q 0 0 0 rg BT 483.05 70.10 Td (af) Tj ET Q q 0 0 0 rg BT 491.20 70.10 Td (fected.) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 742.10 Td (e ) Tj ET Q q 0 0 0 rg BT 66.78 742.10 Td (market ) Tj ET Q q 0 0 0 rg BT 98.25 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 116.39 742.10 Td (distribute ) Tj ET Q q 0 0 0 rg BT 157.87 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 174.90 742.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 216.92 742.10 Td (programs ) Tj ET Q q 0 0 0 rg BT 258.39 742.10 Td (exclusively ) Tj ET Q q 0 0 0 rg BT 307.64 742.10 Td (through ) Tj ET Q q 0 0 0 rg BT 342.45 742.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 395.02 742.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 437.04 742.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 466.29 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 484.44 742.10 Td (specialty ) Tj ET Q q 0 0 0 rg BT 523.68 742.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (brokers. ) Tj ET Q q 0 0 0 rg BT 84.46 730.10 Td (As ) Tj ET Q q 0 0 0 rg BT 98.10 730.10 Td (a ) Tj ET Q q 0 0 0 rg BT 105.06 730.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 132.30 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 148.15 730.10 Td (business ) Tj ET Q q 0 0 0 rg BT 184.57 730.10 Td (depends ) Tj ET Q q 0 0 0 rg BT 219.86 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 230.17 730.10 Td (lar) Tj ET Q q 0 0 0 rg BT 240.53 730.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 252.49 730.10 Td (part ) Tj ET Q q 0 0 0 rg BT 270.57 730.10 Td (on ) Tj ET Q q 0 0 0 rg BT 283.09 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 297.83 730.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 340.90 730.10 Td (ef) Tj ET Q q 0 0 0 rg BT 348.49 730.10 Td (forts ) Tj ET Q q 0 0 0 rg BT 369.34 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 380.19 730.10 Td (these ) Tj ET Q q 0 0 0 rg BT 403.27 730.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 431.34 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 448.30 730.10 Td (brokers ) Tj ET Q q 0 0 0 rg BT 480.81 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 497.78 730.10 Td (on ) Tj ET Q q 0 0 0 rg BT 510.30 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 526.16 730.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 554.23 730.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 718.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 71.95 718.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 112.96 718.10 Td (products ) Tj ET Q q 0 0 0 rg BT 150.10 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 167.24 718.10 Td (services ) Tj ET Q q 0 0 0 rg BT 202.15 718.10 Td (that ) Tj ET Q q 0 0 0 rg BT 219.84 718.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 241.98 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 256.89 718.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 311.80 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 322.83 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 337.74 718.10 Td (agents, ) Tj ET Q q 0 0 0 rg BT 368.49 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 383.41 718.10 Td (brokers ) Tj ET Q q 0 0 0 rg BT 416.10 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 433.24 718.10 Td (their ) Tj ET Q q 0 0 0 rg BT 454.26 718.10 Td (customers. ) Tj ET Q q 0 0 0 rg BT 500.01 718.10 Td (However) Tj ET Q q 0 0 0 rg BT 536.26 718.10 Td (, ) Tj ET Q q 0 0 0 rg BT 541.46 718.10 Td (these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 77.86 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 94.61 706.10 Td (brokers ) Tj ET Q q 0 0 0 rg BT 126.91 706.10 Td (are ) Tj ET Q q 0 0 0 rg BT 141.43 706.10 Td (not ) Tj ET Q q 0 0 0 rg BT 156.52 706.10 Td (obligated ) Tj ET Q q 0 0 0 rg BT 196.04 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 206.13 706.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 222.33 706.10 Td (or ) Tj ET Q q 0 0 0 rg BT 232.97 706.10 Td (promote ) Tj ET Q q 0 0 0 rg BT 268.60 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 284.24 706.10 Td (products ) Tj ET Q q 0 0 0 rg BT 320.99 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 337.74 706.10 Td (many ) Tj ET Q q 0 0 0 rg BT 362.27 706.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 378.47 706.10 Td (or ) Tj ET Q q 0 0 0 rg BT 389.11 706.10 Td (promote ) Tj ET Q q 0 0 0 rg BT 424.75 706.10 Td (competitors) Tj ET Q q 0 0 0 rg BT 474.55 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 476.86 706.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 517.48 706.10 Td (products ) Tj ET Q q 0 0 0 rg BT 554.23 706.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 85.79 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 96.58 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 112.92 694.10 Td (products. ) Tj ET Q q 0 0 0 rg BT 152.87 694.10 Td (Some ) Tj ET Q q 0 0 0 rg BT 178.66 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.00 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 206.35 694.10 Td (competitors ) Tj ET Q q 0 0 0 rg BT 256.57 694.10 Td (have ) Tj ET Q q 0 0 0 rg BT 278.46 694.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 307.02 694.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 345.01 694.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 380.24 694.10 Td (ratings, ) Tj ET Q q 0 0 0 rg BT 412.97 694.10 Td (of) Tj ET Q q 0 0 0 rg BT 421.12 694.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 435.23 694.10 Td (a ) Tj ET Q q 0 0 0 rg BT 442.69 694.10 Td (lar) Tj ET Q q 0 0 0 rg BT 453.05 694.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 468.83 694.10 Td (variety ) Tj ET Q q 0 0 0 rg BT 499.61 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 510.95 694.10 Td (products, ) Tj ET Q q 0 0 0 rg BT 550.90 694.10 Td (set ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 75.56 682.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 102.24 682.10 Td (for ) Tj ET Q q 0 0 0 rg BT 116.69 682.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 157.80 682.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 196.68 682.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 225.02 682.10 Td (of) Tj ET Q q 0 0 0 rg BT 233.17 682.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 247.07 682.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 275.41 682.10 Td (commissions ) Tj ET Q q 0 0 0 rg BT 330.43 682.10 Td (than ) Tj ET Q q 0 0 0 rg BT 350.44 682.10 Td (we ) Tj ET Q q 0 0 0 rg BT 364.90 682.10 Td (do. ) Tj ET Q q 0 0 0 rg BT 379.99 682.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 424.70 682.10 Td (we ) Tj ET Q q 0 0 0 rg BT 439.16 682.10 Td (may ) Tj ET Q q 0 0 0 rg BT 459.17 682.10 Td (not ) Tj ET Q q 0 0 0 rg BT 474.74 682.10 Td (be ) Tj ET Q q 0 0 0 rg BT 486.98 682.10 Td (able ) Tj ET Q q 0 0 0 rg BT 506.43 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 517.00 682.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 554.23 682.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (attract ) Tj ET Q q 0 0 0 rg BT 77.11 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 93.67 670.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 118.56 670.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 169.56 670.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 197.23 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 213.80 670.10 Td (brokers ) Tj ET Q q 0 0 0 rg BT 245.92 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 255.82 670.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 271.83 670.10 Td (our ) Tj ET Q q 0 0 0 rg BT 287.29 670.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 327.73 670.10 Td (products. ) Tj ET Q q 0 0 0 rg BT 366.64 670.10 Td (The ) Tj ET Q q 0 0 0 rg BT 384.32 670.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 412.54 670.10 Td (or ) Tj ET Q q 0 0 0 rg BT 422.99 670.10 Td (inability ) Tj ET Q q 0 0 0 rg BT 458.45 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 468.91 670.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 519.90 670.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 547.58 670.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (brokers ) Tj ET Q q 0 0 0 rg BT 82.52 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 92.83 658.10 Td (market ) Tj ET Q q 0 0 0 rg BT 123.12 658.10 Td (our ) Tj ET Q q 0 0 0 rg BT 138.98 658.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 179.82 658.10 Td (products ) Tj ET Q q 0 0 0 rg BT 216.79 658.10 Td (successfully ) Tj ET Q q 0 0 0 rg BT 268.20 658.10 Td (could ) Tj ET Q q 0 0 0 rg BT 292.94 658.10 Td (have ) Tj ET Q q 0 0 0 rg BT 314.35 658.10 Td (a ) Tj ET Q q 0 0 0 rg BT 321.32 658.10 Td (material ) Tj ET Q q 0 0 0 rg BT 356.61 658.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 389.67 658.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 419.41 658.10 Td (on ) Tj ET Q q 0 0 0 rg BT 431.94 658.10 Td (our ) Tj ET Q q 0 0 0 rg BT 447.80 658.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 486.72 658.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 524.23 658.10 Td (condition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 646.10 Td (results ) Tj ET Q q 0 0 0 rg BT 95.55 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.38 646.10 Td (operations.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (If ) Tj ET Q q 0 0 0 rg BT 60.17 622.10 Td (we ) Tj ET Q q 0 0 0 rg BT 74.24 622.10 Td (are ) Tj ET Q q 0 0 0 rg BT 90.52 622.10 Td (unable ) Tj ET Q q 0 0 0 rg BT 121.81 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 132.54 622.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 172.73 622.10 Td (our ) Tj ET Q q 0 0 0 rg BT 190.14 622.10 Td (claims-paying ) Tj ET Q q 0 0 0 rg BT 250.87 622.10 Td (ratings, ) Tj ET Q q 0 0 0 rg BT 285.22 622.10 Td (our ) Tj ET Q q 0 0 0 rg BT 302.63 622.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 331.13 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 341.86 622.10 Td (write ) Tj ET Q q 0 0 0 rg BT 365.37 622.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 409.45 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 427.96 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 438.70 622.10 Td (compete ) Tj ET Q q 0 0 0 rg BT 475.52 622.10 Td (with ) Tj ET Q q 0 0 0 rg BT 496.26 622.10 Td (other ) Tj ET Q q 0 0 0 rg BT 520.88 622.10 Td (insurance ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 96.53 610.10 Td (may ) Tj ET Q q 0 0 0 rg BT 116.39 610.10 Td (be ) Tj ET Q q 0 0 0 rg BT 128.48 610.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 169.44 610.10 Td (impacted. ) Tj ET Q q 0 0 0 rg BT 211.40 610.10 Td (A) Tj ET Q q 0 0 0 rg BT 217.52 610.10 Td ( ) Tj ET Q q 0 0 0 rg BT 220.17 610.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 252.25 610.10 Td (in ) Tj ET Q q 0 0 0 rg BT 263.23 610.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 290.89 610.10 Td (could ) Tj ET Q q 0 0 0 rg BT 316.31 610.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 357.27 610.10 Td (af) Tj ET Q q 0 0 0 rg BT 365.42 610.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 383.05 610.10 Td (our ) Tj ET Q q 0 0 0 rg BT 400.15 610.10 Td (position ) Tj ET Q q 0 0 0 rg BT 435.58 610.10 Td (in ) Tj ET Q q 0 0 0 rg BT 446.57 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 461.99 610.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 505.76 610.10 Td (market, ) Tj ET Q q 0 0 0 rg BT 539.79 610.10 Td (make ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (it ) Tj ET Q q 0 0 0 rg BT 58.06 598.10 Td (more ) Tj ET Q q 0 0 0 rg BT 81.67 598.10 Td (dif) Tj ET Q q 0 0 0 rg BT 92.59 598.10 Td (ficult ) Tj ET Q q 0 0 0 rg BT 116.76 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 127.04 598.10 Td (market ) Tj ET Q q 0 0 0 rg BT 158.42 598.10 Td (our ) Tj ET Q q 0 0 0 rg BT 175.38 598.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 219.00 598.10 Td (products ) Tj ET Q q 0 0 0 rg BT 257.06 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 275.12 598.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 300.95 598.10 Td (our ) Tj ET Q q 0 0 0 rg BT 317.91 598.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 361.52 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 379.58 598.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 418.21 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 428.49 598.10 Td (decrease.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 89.35 574.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 118.71 574.10 Td (are ) Tj ET Q q 0 0 0 rg BT 133.06 574.10 Td (an ) Tj ET Q q 0 0 0 rg BT 144.64 574.10 Td (important ) Tj ET Q q 0 0 0 rg BT 185.67 574.10 Td (factor ) Tj ET Q q 0 0 0 rg BT 211.13 574.10 Td (influencing ) Tj ET Q q 0 0 0 rg BT 258.81 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.17 574.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 322.52 574.10 Td (position ) Tj ET Q q 0 0 0 rg BT 356.89 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 367.36 574.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 407.82 574.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 455.07 574.10 Td (Third ) Tj ET Q q 0 0 0 rg BT 479.43 574.10 Td (party ) Tj ET Q q 0 0 0 rg BT 502.12 574.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 527.59 574.10 Td (agencies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (assess ) Tj ET Q q 0 0 0 rg BT 77.53 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 95.05 562.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 113.12 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.42 562.10 Td (claims-paying ) Tj ET Q q 0 0 0 rg BT 188.16 562.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 216.80 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 228.21 562.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 262.96 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 280.48 562.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 322.99 562.10 Td (based ) Tj ET Q q 0 0 0 rg BT 348.85 562.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 371.93 562.10 Td (criteria ) Tj ET Q q 0 0 0 rg BT 403.33 562.10 Td (that ) Tj ET Q q 0 0 0 rg BT 421.41 562.10 Td (they ) Tj ET Q q 0 0 0 rg BT 441.71 562.10 Td (have ) Tj ET Q q 0 0 0 rg BT 463.67 562.10 Td (established. ) Tj ET Q q 0 0 0 rg BT 513.69 562.10 Td (Periodically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (these ) Tj ET Q q 0 0 0 rg BT 73.77 550.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 100.33 550.10 Td (agencies ) Tj ET Q q 0 0 0 rg BT 137.98 550.10 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 174.52 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 189.96 550.10 Td (business ) Tj ET Q q 0 0 0 rg BT 227.08 550.10 Td (to ) Tj ET Q q 0 0 0 rg BT 238.09 550.10 Td (confirm ) Tj ET Q q 0 0 0 rg BT 272.97 550.10 Td (that ) Tj ET Q q 0 0 0 rg BT 291.19 550.10 Td (it ) Tj ET Q q 0 0 0 rg BT 299.98 550.10 Td (continues ) Tj ET Q q 0 0 0 rg BT 341.53 550.10 Td (to ) Tj ET Q q 0 0 0 rg BT 352.53 550.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 375.20 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 390.64 550.10 Td (criteria ) Tj ET Q q 0 0 0 rg BT 422.18 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.74 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.18 550.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 479.62 550.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 525.07 550.10 Td (assigned. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 90.38 538.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 125.76 538.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 156.14 538.10 Td (are ) Tj ET Q q 0 0 0 rg BT 171.51 538.10 Td (an ) Tj ET Q q 0 0 0 rg BT 184.12 538.10 Td (important ) Tj ET Q q 0 0 0 rg BT 226.17 538.10 Td (factor ) Tj ET Q q 0 0 0 rg BT 252.65 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 263.59 538.10 Td (establishing ) Tj ET Q q 0 0 0 rg BT 314.53 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 329.91 538.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 380.28 538.10 Td (position ) Tj ET Q q 0 0 0 rg BT 415.68 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 427.17 538.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 468.65 538.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 514.58 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 532.19 538.10 Td (may ) Tj ET Q q 0 0 0 rg BT 552.57 538.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 87.74 526.10 Td (to ) Tj ET Q q 0 0 0 rg BT 97.72 526.10 Td (have ) Tj ET Q q 0 0 0 rg BT 118.80 526.10 Td (an ) Tj ET Q q 0 0 0 rg BT 130.44 526.10 Td (ef) Tj ET Q q 0 0 0 rg BT 138.03 526.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 155.22 526.10 Td (on ) Tj ET Q q 0 0 0 rg BT 167.43 526.10 Td (an ) Tj ET Q q 0 0 0 rg BT 179.07 526.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 219.59 526.10 Td (company) Tj ET Q q 0 0 0 rg BT 259.02 526.10 Td (s ) Tj ET Q q 0 0 0 rg BT 265.12 526.10 Td (premiums. ) Tj ET Q q 0 0 0 rg BT 309.66 526.10 Td (The ) Tj ET Q q 0 0 0 rg BT 327.41 526.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 367.93 526.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 417.35 526.10 Td (are ) Tj ET Q q 0 0 0 rg BT 431.76 526.10 Td (rated ) Tj ET Q q 0 0 0 rg BT 453.95 526.10 Td (by ) Tj ET Q q 0 0 0 rg BT 465.67 526.10 Td (A.M. ) Tj ET Q q 0 0 0 rg BT 488.99 526.10 Td (Best, ) Tj ET Q q 0 0 0 rg BT 511.47 526.10 Td (which ) Tj ET Q q 0 0 0 rg BT 538.12 526.10 Td (issues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 101.64 514.10 Td (opinions ) Tj ET Q q 0 0 0 rg BT 138.86 514.10 Td (of ) Tj ET Q q 0 0 0 rg BT 149.96 514.10 Td (an ) Tj ET Q q 0 0 0 rg BT 162.16 514.10 Td (insurer) Tj ET Q q 0 0 0 rg BT 190.30 514.10 Td () Tj ET Q q 0 0 0 rg BT 193.08 514.10 Td (s ) Tj ET Q q 0 0 0 rg BT 199.74 514.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 237.49 514.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 272.48 514.10 Td (and ) Tj ET Q q 0 0 0 rg BT 289.68 514.10 Td (its ) Tj ET Q q 0 0 0 rg BT 301.90 514.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 330.22 514.10 Td (to ) Tj ET Q q 0 0 0 rg BT 340.77 514.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 362.97 514.10 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 416.28 514.10 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 465.38 514.10 Td (A.M. ) Tj ET Q q 0 0 0 rg BT 489.26 514.10 Td (Best ) Tj ET Q q 0 0 0 rg BT 509.81 514.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 539.79 514.10 Td (range ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (from ) Tj ET Q q 0 0 0 rg BT 72.02 502.10 Td (A++ ) Tj ET Q q 0 0 0 rg BT 101.98 502.10 Td (\(Superior\) ) Tj ET Q q 0 0 0 rg BT 145.66 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 156.02 502.10 Td (F ) Tj ET Q q 0 0 0 rg BT 173.04 502.10 Td (\(In ) Tj ET Q q 0 0 0 rg BT 187.28 502.10 Td (Liquidation\), ) Tj ET Q q 0 0 0 rg BT 242.36 502.10 Td (with ) Tj ET Q q 0 0 0 rg BT 262.72 502.10 Td (a ) Tj ET Q q 0 0 0 rg BT 269.74 502.10 Td (total ) Tj ET Q q 0 0 0 rg BT 290.09 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 301.00 502.10 Td (16 ) Tj ET Q q 0 0 0 rg BT 313.59 502.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 348.92 502.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 374.83 502.10 Td (categories. ) Tj ET Q q 0 0 0 rg BT 420.26 502.10 Td (The ) Tj ET Q q 0 0 0 rg BT 438.39 502.10 Td (objective ) Tj ET Q q 0 0 0 rg BT 477.62 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 487.96 502.10 Td (A.M. ) Tj ET Q q 0 0 0 rg BT 511.66 502.10 Td (Best) Tj ET Q q 0 0 0 rg BT 532.21 502.10 Td (s ) Tj ET Q q 0 0 0 rg BT 538.69 502.10 Td (rating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (system ) Tj ET Q q 0 0 0 rg BT 80.53 490.10 Td (is ) Tj ET Q q 0 0 0 rg BT 89.95 490.10 Td (to ) Tj ET Q q 0 0 0 rg BT 100.48 490.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 133.78 490.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 171.52 490.10 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 228.71 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 245.90 490.10 Td (other ) Tj ET Q q 0 0 0 rg BT 269.19 490.10 Td (interested ) Tj ET Q q 0 0 0 rg BT 310.82 490.10 Td (parties ) Tj ET Q q 0 0 0 rg BT 340.22 490.10 Td (an ) Tj ET Q q 0 0 0 rg BT 352.41 490.10 Td (opinion ) Tj ET Q q 0 0 0 rg BT 385.72 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 396.80 490.10 Td (an ) Tj ET Q q 0 0 0 rg BT 408.99 490.10 Td (insurer) Tj ET Q q 0 0 0 rg BT 437.13 490.10 Td () Tj ET Q q 0 0 0 rg BT 439.91 490.10 Td (s ) Tj ET Q q 0 0 0 rg BT 446.56 490.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 484.29 490.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 519.26 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 536.45 490.10 Td (ability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 478.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 82.21 478.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 117.49 478.10 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 166.93 478.10 Td (including ) Tj ET Q q 0 0 0 rg BT 207.21 478.10 Td (paying ) Tj ET Q q 0 0 0 rg BT 236.92 478.10 Td (claims.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (On ) Tj ET Q q 0 0 0 rg BT 65.17 454.10 Td (October ) Tj ET Q q 0 0 0 rg BT 100.33 454.10 Td (23, ) Tj ET Q q 0 0 0 rg BT 115.78 454.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 140.58 454.10 Td (A.M. ) Tj ET Q q 0 0 0 rg BT 164.65 454.10 Td (Best ) Tj ET Q q 0 0 0 rg BT 185.38 454.10 Td (placed ) Tj ET Q q 0 0 0 rg BT 214.42 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.59 454.10 Td (current ) Tj ET Q q 0 0 0 rg BT 260.86 454.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 298.79 454.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 333.96 454.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 364.13 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 375.41 454.10 Td ("B" ) Tj ET Q q 0 0 0 rg BT 393.20 454.10 Td ("Stable" ) Tj ET Q q 0 0 0 rg BT 429.31 454.10 Td (for ) Tj ET Q q 0 0 0 rg BT 443.27 454.10 Td (American ) Tj ET Q q 0 0 0 rg BT 485.64 454.10 Td (Country) Tj ET Q q 0 0 0 rg BT 517.77 454.10 Td (, ) Tj ET Q q 0 0 0 rg BT 522.57 454.10 Td (American ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Service ) Tj ET Q q 0 0 0 rg BT 82.24 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 98.94 442.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 136.73 442.10 Td (under ) Tj ET Q q 0 0 0 rg BT 161.76 442.10 Td (review ) Tj ET Q q 0 0 0 rg BT 191.22 442.10 Td (with ) Tj ET Q q 0 0 0 rg BT 211.26 442.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 247.39 442.10 Td (implications. ) Tj ET Q q 0 0 0 rg BT 301.58 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 303.34 442.10 Td (Also ) Tj ET Q q 0 0 0 rg BT 324.49 442.10 Td (on ) Tj ET Q q 0 0 0 rg BT 336.75 442.10 Td (October ) Tj ET Q q 0 0 0 rg BT 371.21 442.10 Td (23, ) Tj ET Q q 0 0 0 rg BT 385.97 442.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 410.23 442.10 Td (A.M. ) Tj ET Q q 0 0 0 rg BT 433.60 442.10 Td (Best ) Tj ET Q q 0 0 0 rg BT 453.64 442.10 Td (placed ) Tj ET Q q 0 0 0 rg BT 481.99 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 496.46 442.10 Td (current ) Tj ET Q q 0 0 0 rg BT 527.03 442.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 85.15 430.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 111.42 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 122.68 430.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 152.84 430.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 185.21 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 196.47 430.10 Td ("B+" ) Tj ET Q q 0 0 0 rg BT 219.89 430.10 Td ("Stable" ) Tj ET Q q 0 0 0 rg BT 255.98 430.10 Td (under ) Tj ET Q q 0 0 0 rg BT 281.69 430.10 Td (review ) Tj ET Q q 0 0 0 rg BT 311.83 430.10 Td (with ) Tj ET Q q 0 0 0 rg BT 332.55 430.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 369.36 430.10 Td (implications. ) Tj ET Q q 0 0 0 rg BT 424.23 430.10 Td ( ) Tj ET Q q 0 0 0 rg BT 426.96 430.10 Td (These ) Tj ET Q q 0 0 0 rg BT 453.77 430.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 480.03 430.10 Td (actions ) Tj ET Q q 0 0 0 rg BT 511.29 430.10 Td (followed ) Tj ET Q q 0 0 0 rg BT 549.78 430.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (announcement ) Tj ET Q q 0 0 0 rg BT 110.01 418.10 Td (that ) Tj ET Q q 0 0 0 rg BT 126.33 418.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 149.14 418.10 Td (had ) Tj ET Q q 0 0 0 rg BT 165.27 418.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 196.40 418.10 Td (into ) Tj ET Q q 0 0 0 rg BT 213.65 418.10 Td (a ) Tj ET Q q 0 0 0 rg BT 219.79 418.10 Td (definitive ) Tj ET Q q 0 0 0 rg BT 259.81 418.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 303.15 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 312.63 418.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 343.75 418.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 372.67 418.10 Td (Liberty) Tj ET Q q 0 0 0 rg BT 401.45 418.10 Td (. ) Tj ET Q q 0 0 0 rg BT 405.65 418.10 Td ( ) Tj ET Q q 0 0 0 rg BT 406.97 418.10 Td (As ) Tj ET Q q 0 0 0 rg BT 419.79 418.10 Td (described ) Tj ET Q q 0 0 0 rg BT 459.80 418.10 Td (by ) Tj ET Q q 0 0 0 rg BT 471.13 418.10 Td (A.M.Best, ) Tj ET Q q 0 0 0 rg BT 514.22 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 528.13 418.10 Td (negative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (implications ) Tj ET Q q 0 0 0 rg BT 101.19 406.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 128.46 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 142.43 406.10 Td (inherent ) Tj ET Q q 0 0 0 rg BT 176.94 406.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 193.69 406.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 236.53 406.10 Td (with ) Tj ET Q q 0 0 0 rg BT 256.05 406.10 Td (integrating ) Tj ET Q q 0 0 0 rg BT 301.12 406.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 330.08 406.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 361.26 406.10 Td (into ) Tj ET Q q 0 0 0 rg BT 378.18 406.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 402.84 406.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 437.37 406.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 480.77 406.10 Td (and ) Tj ET Q q 0 0 0 rg BT 496.95 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 510.92 406.10 Td (uncertainties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 94.15 394.10 Td (with ) Tj ET Q q 0 0 0 rg BT 114.99 394.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 145.26 394.10 Td (Liberty's ) Tj ET Q q 0 0 0 rg BT 183.44 394.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 210.92 394.10 Td (results. ) Tj ET Q q 0 0 0 rg BT 242.59 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 245.42 394.10 Td (The ) Tj ET Q q 0 0 0 rg BT 264.03 394.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 294.30 394.10 Td (will ) Tj ET Q q 0 0 0 rg BT 312.91 394.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 343.73 394.10 Td (under ) Tj ET Q q 0 0 0 rg BT 369.56 394.10 Td (review ) Tj ET Q q 0 0 0 rg BT 399.82 394.10 Td (pending ) Tj ET Q q 0 0 0 rg BT 435.10 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 450.37 394.10 Td (close ) Tj ET Q q 0 0 0 rg BT 473.97 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 485.36 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 500.63 394.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 547.56 394.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (discussions ) Tj ET Q q 0 0 0 rg BT 97.86 382.10 Td (with ) Tj ET Q q 0 0 0 rg BT 117.93 382.10 Td (management ) Tj ET Q q 0 0 0 rg BT 171.32 382.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 211.93 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 226.45 382.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 255.96 382.10 Td (that ) Tj ET Q q 0 0 0 rg BT 273.25 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 287.76 382.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 333.93 382.10 Td (will ) Tj ET Q q 0 0 0 rg BT 351.79 382.10 Td (have ) Tj ET Q q 0 0 0 rg BT 372.96 382.10 Td (on ) Tj ET Q q 0 0 0 rg BT 385.26 382.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 414.77 382.10 Td (Liberty's ) Tj ET Q q 0 0 0 rg BT 452.20 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 468.43 382.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 493.63 382.10 Td (current ) Tj ET Q q 0 0 0 rg BT 524.25 382.10 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 98.01 370.10 Td ( ) Tj ET Q q 0 0 0 rg BT 100.55 370.10 Td (There ) Tj ET Q q 0 0 0 rg BT 126.61 370.10 Td (is ) Tj ET Q q 0 0 0 rg BT 136.02 370.10 Td (a ) Tj ET Q q 0 0 0 rg BT 143.21 370.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 160.95 370.10 Td (that ) Tj ET Q q 0 0 0 rg BT 178.08 370.10 Td (A.M. ) Tj ET Q q 0 0 0 rg BT 201.94 370.10 Td (Best ) Tj ET Q q 0 0 0 rg BT 222.46 370.10 Td (will ) Tj ET Q q 0 0 0 rg BT 240.76 370.10 Td (not ) Tj ET Q q 0 0 0 rg BT 256.28 370.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 294.01 370.10 Td (these ) Tj ET Q q 0 0 0 rg BT 317.30 370.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 347.26 370.10 Td (in ) Tj ET Q q 0 0 0 rg BT 357.79 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 372.75 370.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 401.87 370.10 Td (If ) Tj ET Q q 0 0 0 rg BT 411.27 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 426.23 370.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 467.29 370.10 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 517.09 370.10 Td ( ) Tj ET Q q 0 0 0 rg BT 519.83 370.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 549.79 370.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 84.43 358.10 Td (by ) Tj ET Q q 0 0 0 rg BT 96.59 358.10 Td (A.M. ) Tj ET Q q 0 0 0 rg BT 120.49 358.10 Td (Best, ) Tj ET Q q 0 0 0 rg BT 143.55 358.10 Td (their ) Tj ET Q q 0 0 0 rg BT 164.65 358.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 214.64 358.10 Td (position ) Tj ET Q q 0 0 0 rg BT 249.65 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 260.21 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 275.20 358.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 316.30 358.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 351.86 358.10 Td (could ) Tj ET Q q 0 0 0 rg BT 376.86 358.10 Td (suf) Tj ET Q q 0 0 0 rg BT 388.90 358.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 402.78 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 420.00 358.10 Td (it ) Tj ET Q q 0 0 0 rg BT 428.33 358.10 Td (could ) Tj ET Q q 0 0 0 rg BT 453.33 358.10 Td (be ) Tj ET Q q 0 0 0 rg BT 465.55 358.10 Td (more ) Tj ET Q q 0 0 0 rg BT 488.88 358.10 Td (dif) Tj ET Q q 0 0 0 rg BT 499.81 358.10 Td (ficult ) Tj ET Q q 0 0 0 rg BT 523.69 358.10 Td (to ) Tj ET Q q 0 0 0 rg BT 534.25 358.10 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (their ) Tj ET Q q 0 0 0 rg BT 70.82 346.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 111.63 346.10 Td (products. ) Tj ET Q q 0 0 0 rg BT 150.52 346.10 Td (A) Tj ET Q q 0 0 0 rg BT 157.19 346.10 Td ( ) Tj ET Q q 0 0 0 rg BT 159.68 346.10 Td (downgrade ) Tj ET Q q 0 0 0 rg BT 206.61 346.10 Td (could ) Tj ET Q q 0 0 0 rg BT 231.32 346.10 Td (result ) Tj ET Q q 0 0 0 rg BT 256.04 346.10 Td (in ) Tj ET Q q 0 0 0 rg BT 266.31 346.10 Td (a ) Tj ET Q q 0 0 0 rg BT 273.25 346.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 317.95 346.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 358.21 346.10 Td (in ) Tj ET Q q 0 0 0 rg BT 368.49 346.10 Td (the ) Tj ET Q q 0 0 0 rg BT 383.20 346.10 Td (number ) Tj ET Q q 0 0 0 rg BT 416.25 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 427.07 346.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 467.89 346.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 506.48 346.10 Td (written ) Tj ET Q q 0 0 0 rg BT 537.30 346.10 Td (by ) Tj ET Q q 0 0 0 rg BT 549.79 346.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 100.68 334.10 Td (and ) Tj ET Q q 0 0 0 rg BT 118.58 334.10 Td (in ) Tj ET Q q 0 0 0 rg BT 129.83 334.10 Td (a ) Tj ET Q q 0 0 0 rg BT 137.73 334.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 183.97 334.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 202.99 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 214.79 334.10 Td (business ) Tj ET Q q 0 0 0 rg BT 252.14 334.10 Td (to ) Tj ET Q q 0 0 0 rg BT 263.39 334.10 Td (other ) Tj ET Q q 0 0 0 rg BT 287.40 334.10 Td (competitors ) Tj ET Q q 0 0 0 rg BT 338.07 334.10 Td (with ) Tj ET Q q 0 0 0 rg BT 359.32 334.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 388.33 334.10 Td (ratings, ) Tj ET Q q 0 0 0 rg BT 421.51 334.10 Td (causing ) Tj ET Q q 0 0 0 rg BT 455.52 334.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 498.98 334.10 Td (and ) Tj ET Q q 0 0 0 rg BT 516.88 334.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 554.22 334.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (decrease. ) Tj ET Q q 0 0 0 rg BT 88.98 322.10 Td (Rating ) Tj ET Q q 0 0 0 rg BT 117.71 322.10 Td (agencies ) Tj ET Q q 0 0 0 rg BT 154.20 322.10 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 189.58 322.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 229.96 322.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 274.79 322.10 Td (based ) Tj ET Q q 0 0 0 rg BT 299.63 322.10 Td (on ) Tj ET Q q 0 0 0 rg BT 311.70 322.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 348.74 322.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 383.03 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 399.53 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 413.82 322.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 441.44 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 451.28 322.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 467.79 322.10 Td (claims, ) Tj ET Q q 0 0 0 rg BT 498.46 322.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 527.73 322.10 Td (that ) Tj ET Q q 0 0 0 rg BT 544.79 322.10 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (be ) Tj ET Q q 0 0 0 rg BT 62.23 310.10 Td (more ) Tj ET Q q 0 0 0 rg BT 85.56 310.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 120.55 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 131.12 310.10 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 188.34 310.10 Td (than ) Tj ET Q q 0 0 0 rg BT 208.34 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 218.91 310.10 Td (investors. ) Tj ET Q q 0 0 0 rg BT 260.31 310.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 300.31 310.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 335.31 310.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 365.32 310.10 Td (by ) Tj ET Q q 0 0 0 rg BT 378.11 310.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 404.22 310.10 Td (agencies ) Tj ET Q q 0 0 0 rg BT 441.43 310.10 Td (are ) Tj ET Q q 0 0 0 rg BT 456.43 310.10 Td (not ) Tj ET Q q 0 0 0 rg BT 471.99 310.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 502.00 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 513.12 310.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 553.67 310.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (recommendations ) Tj ET Q q 0 0 0 rg BT 123.59 298.10 Td (to ) Tj ET Q q 0 0 0 rg BT 133.87 298.10 Td (buy) Tj ET Q q 0 0 0 rg BT 148.22 298.10 Td (, ) Tj ET Q q 0 0 0 rg BT 153.22 298.10 Td (hold ) Tj ET Q q 0 0 0 rg BT 173.50 298.10 Td (or ) Tj ET Q q 0 0 0 rg BT 184.33 298.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 200.71 298.10 Td (any ) Tj ET Q q 0 0 0 rg BT 217.65 298.10 Td (security ) Tj ET Q q 0 0 0 rg BT 251.81 298.10 Td (and ) Tj ET Q q 0 0 0 rg BT 268.75 298.10 Td (should ) Tj ET Q q 0 0 0 rg BT 297.92 298.10 Td (not ) Tj ET Q q 0 0 0 rg BT 313.19 298.10 Td (be ) Tj ET Q q 0 0 0 rg BT 325.13 298.10 Td (relied ) Tj ET Q q 0 0 0 rg BT 350.40 298.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 372.90 298.10 Td (as ) Tj ET Q q 0 0 0 rg BT 383.73 298.10 Td (such.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.76 274.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 96.39 274.10 Td (to ) Tj ET Q q 0 0 0 rg BT 106.26 274.10 Td (generate ) Tj ET Q q 0 0 0 rg BT 143.89 274.10 Td (written ) Tj ET Q q 0 0 0 rg BT 174.87 274.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 218.07 274.10 Td (is ) Tj ET Q q 0 0 0 rg BT 226.82 274.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 266.12 274.10 Td (by ) Tj ET Q q 0 0 0 rg BT 277.64 274.10 Td (seasonality ) Tj ET Q q 0 0 0 rg BT 325.28 274.10 Td (which ) Tj ET Q q 0 0 0 rg BT 352.38 274.10 Td (may ) Tj ET Q q 0 0 0 rg BT 371.68 274.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 397.09 274.10 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 448.63 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 459.06 274.10 Td (our ) Tj ET Q q 0 0 0 rg BT 475.59 274.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 517.13 274.10 Td (results ) Tj ET Q q 0 0 0 rg BT 546.44 274.10 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 262.10 Td (our ) Tj ET Q q 0 0 0 rg BT 77.23 262.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 100.84 262.10 Td (price.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.46 238.10 Td (P&C ) Tj ET Q q 0 0 0 rg BT 89.38 238.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 129.61 238.10 Td (business ) Tj ET Q q 0 0 0 rg BT 165.42 238.10 Td (is ) Tj ET Q q 0 0 0 rg BT 174.00 238.10 Td (seasonal ) Tj ET Q q 0 0 0 rg BT 209.79 238.10 Td (in ) Tj ET Q q 0 0 0 rg BT 219.48 238.10 Td (nature. ) Tj ET Q q 0 0 0 rg BT 248.88 238.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 266.34 238.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 293.81 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 303.50 238.10 Td (generate ) Tj ET Q q 0 0 0 rg BT 339.28 238.10 Td (written ) Tj ET Q q 0 0 0 rg BT 369.51 238.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 407.53 238.10 Td (is ) Tj ET Q q 0 0 0 rg BT 416.11 238.10 Td (also ) Tj ET Q q 0 0 0 rg BT 434.13 238.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 472.70 238.10 Td (by ) Tj ET Q q 0 0 0 rg BT 484.61 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 498.74 238.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 526.77 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 537.01 238.10 Td (policy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 226.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 86.94 226.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 118.52 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 128.44 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 142.81 226.10 Td (states ) Tj ET Q q 0 0 0 rg BT 167.17 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 177.09 226.10 Td (which ) Tj ET Q q 0 0 0 rg BT 203.68 226.10 Td (we ) Tj ET Q q 0 0 0 rg BT 217.49 226.10 Td (operate ) Tj ET Q q 0 0 0 rg BT 249.06 226.10 Td (while ) Tj ET Q q 0 0 0 rg BT 273.42 226.10 Td (our ) Tj ET Q q 0 0 0 rg BT 288.89 226.10 Td (net ) Tj ET Q q 0 0 0 rg BT 303.26 226.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 345.40 226.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 374.19 226.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 413.54 226.10 Td (follow ) Tj ET Q q 0 0 0 rg BT 441.79 226.10 Td (a ) Tj ET Q q 0 0 0 rg BT 448.38 226.10 Td (relatively ) Tj ET Q q 0 0 0 rg BT 488.28 226.10 Td (smooth ) Tj ET Q q 0 0 0 rg BT 519.88 226.10 Td (trend ) Tj ET Q q 0 0 0 rg BT 542.57 226.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 80.16 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 89.78 214.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 117.54 214.10 Td (. ) Tj ET Q q 0 0 0 rg BT 121.88 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.31 214.10 Td (Also, ) Tj ET Q q 0 0 0 rg BT 146.55 214.10 Td (our ) Tj ET Q q 0 0 0 rg BT 161.72 214.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 184.67 214.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 226.51 214.10 Td (written ) Tj ET Q q 0 0 0 rg BT 256.67 214.10 Td (are ) Tj ET Q q 0 0 0 rg BT 270.72 214.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 309.21 214.10 Td (by ) Tj ET Q q 0 0 0 rg BT 321.05 214.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 350.10 214.10 Td (common ) Tj ET Q q 0 0 0 rg BT 386.93 214.10 Td (renewal ) Tj ET Q q 0 0 0 rg BT 420.42 214.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 442.81 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.43 214.10 Td (lar) Tj ET Q q 0 0 0 rg BT 462.79 214.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 477.40 214.10 Td (metropolitan ) Tj ET Q q 0 0 0 rg BT 530.34 214.10 Td (markets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.29 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 79.13 202.10 Td (light ) Tj ET Q q 0 0 0 rg BT 100.09 202.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 149.91 202.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 171.43 202.10 Td (that ) Tj ET Q q 0 0 0 rg BT 189.05 202.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 228.32 202.10 Td (our ) Tj ET Q q 0 0 0 rg BT 244.28 202.10 Td (core ) Tj ET Q q 0 0 0 rg BT 264.11 202.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 285.63 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 296.58 202.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 335.60 202.10 Td (For ) Tj ET Q q 0 0 0 rg BT 352.12 202.10 Td (example, ) Tj ET Q q 0 0 0 rg BT 391.11 202.10 Td (January ) Tj ET Q q 0 0 0 rg BT 424.84 202.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 429.84 206.63 Td (st) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.17 202.10 Td ( ) Tj ET Q q 0 0 0 rg BT 436.80 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.86 202.10 Td (March ) Tj ET Q q 0 0 0 rg BT 482.59 202.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 487.59 206.63 Td (st) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.92 202.10 Td ( ) Tj ET Q q 0 0 0 rg BT 494.55 202.10 Td (are ) Tj ET Q q 0 0 0 rg BT 509.38 202.10 Td (common ) Tj ET Q q 0 0 0 rg BT 547.00 202.10 Td (taxi ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (cab ) Tj ET Q q 0 0 0 rg BT 66.29 190.10 Td (renewal ) Tj ET Q q 0 0 0 rg BT 100.35 190.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 123.31 190.10 Td (in ) Tj ET Q q 0 0 0 rg BT 133.51 190.10 Td (Illinois ) Tj ET Q q 0 0 0 rg BT 164.26 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 181.11 190.10 Td (New ) Tj ET Q q 0 0 0 rg BT 202.05 190.10 Td (Y) Tj ET Q q 0 0 0 rg BT 208.27 190.10 Td (ork, ) Tj ET Q q 0 0 0 rg BT 226.51 190.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 274.17 190.10 Td (. ) Tj ET Q q 0 0 0 rg BT 279.09 190.10 Td ( ) Tj ET Q q 0 0 0 rg BT 280.97 190.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 330.87 190.10 Td (, ) Tj ET Q q 0 0 0 rg BT 335.79 190.10 Td (we ) Tj ET Q q 0 0 0 rg BT 349.86 190.10 Td (implemented ) Tj ET Q q 0 0 0 rg BT 404.48 190.10 Td (our ) Tj ET Q q 0 0 0 rg BT 420.23 190.10 Td (New ) Tj ET Q q 0 0 0 rg BT 441.17 190.10 Td (Y) Tj ET Q q 0 0 0 rg BT 447.39 190.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 463.13 190.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 496.08 190.10 Td (taxi ) Tj ET Q q 0 0 0 rg BT 513.49 190.10 Td (program ) Tj ET Q q 0 0 0 rg BT 554.22 190.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.61 178.10 Td (third ) Tj ET Q q 0 0 0 rg BT 85.90 178.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 116.61 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 127.33 178.10 Td (2012, ) Tj ET Q q 0 0 0 rg BT 152.23 178.10 Td (which ) Tj ET Q q 0 0 0 rg BT 179.07 178.10 Td (has ) Tj ET Q q 0 0 0 rg BT 194.79 178.10 Td (an ) Tj ET Q q 0 0 0 rg BT 206.63 178.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 235.68 178.10 Td (renewal ) Tj ET Q q 0 0 0 rg BT 269.72 178.10 Td (date ) Tj ET Q q 0 0 0 rg BT 288.77 178.10 Td (in ) Tj ET Q q 0 0 0 rg BT 298.95 178.10 Td (the ) Tj ET Q q 0 0 0 rg BT 313.56 178.10 Td (third ) Tj ET Q q 0 0 0 rg BT 334.84 178.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 362.61 178.10 Td (. ) Tj ET Q q 0 0 0 rg BT 367.50 178.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 384.34 178.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 438.39 178.10 Td (income ) Tj ET Q q 0 0 0 rg BT 470.22 178.10 Td (is ) Tj ET Q q 0 0 0 rg BT 479.29 178.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 507.23 178.10 Td (mainly ) Tj ET Q q 0 0 0 rg BT 537.40 178.10 Td (by ) Tj ET Q q 0 0 0 rg BT 549.80 178.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 78.30 166.10 Td (and ) Tj ET Q q 0 0 0 rg BT 94.93 166.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 122.10 166.10 Td (of ) Tj ET Q q 0 0 0 rg BT 132.62 166.10 Td (claims, ) Tj ET Q q 0 0 0 rg BT 163.41 166.10 Td (which ) Tj ET Q q 0 0 0 rg BT 190.03 166.10 Td (can ) Tj ET Q q 0 0 0 rg BT 206.10 166.10 Td (vary ) Tj ET Q q 0 0 0 rg BT 226.05 166.10 Td (widely) Tj ET Q q 0 0 0 rg BT 252.62 166.10 Td (. ) Tj ET Q q 0 0 0 rg BT 256.83 166.10 Td (As ) Tj ET Q q 0 0 0 rg BT 270.13 166.10 Td (a ) Tj ET Q q 0 0 0 rg BT 276.75 166.10 Td (result ) Tj ET Q q 0 0 0 rg BT 301.16 166.10 Td (of ) Tj ET Q q 0 0 0 rg BT 311.68 166.10 Td (this ) Tj ET Q q 0 0 0 rg BT 328.31 166.10 Td (seasonality) Tj ET Q q 0 0 0 rg BT 372.10 166.10 Td (, ) Tj ET Q q 0 0 0 rg BT 376.78 166.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 415.08 166.10 Td (may ) Tj ET Q q 0 0 0 rg BT 434.48 166.10 Td (not ) Tj ET Q q 0 0 0 rg BT 449.45 166.10 Td (be ) Tj ET Q q 0 0 0 rg BT 461.07 166.10 Td (able ) Tj ET Q q 0 0 0 rg BT 479.92 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 489.88 166.10 Td (predict ) Tj ET Q q 0 0 0 rg BT 519.83 166.10 Td (our ) Tj ET Q q 0 0 0 rg BT 535.35 166.10 Td (annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 91.46 154.10 Td (results ) Tj ET Q q 0 0 0 rg BT 121.27 154.10 Td (based ) Tj ET Q q 0 0 0 rg BT 147.74 154.10 Td (on ) Tj ET Q q 0 0 0 rg BT 161.44 154.10 Td (a ) Tj ET Q q 0 0 0 rg BT 169.57 154.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 197.69 154.10 Td (-to-quarter ) Tj ET Q q 0 0 0 rg BT 244.14 154.10 Td (comparison ) Tj ET Q q 0 0 0 rg BT 294.49 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.52 154.10 Td (our ) Tj ET Q q 0 0 0 rg BT 323.55 154.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 365.01 154.10 Td (results. ) Tj ET Q q 0 0 0 rg BT 396.51 154.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 446.41 154.10 Td (, ) Tj ET Q q 0 0 0 rg BT 452.61 154.10 Td (this ) Tj ET Q q 0 0 0 rg BT 470.75 154.10 Td (seasonality ) Tj ET Q q 0 0 0 rg BT 518.89 154.10 Td (may ) Tj ET Q q 0 0 0 rg BT 539.80 154.10 Td (cause ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 99.71 142.10 Td (in ) Tj ET Q q 0 0 0 rg BT 109.99 142.10 Td (our ) Tj ET Q q 0 0 0 rg BT 125.82 142.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 149.43 142.10 Td (price. ) Tj ET Q q 0 0 0 rg BT 174.23 142.10 Td (W) Tj ET Q q 0 0 0 rg BT 182.87 142.10 Td (e ) Tj ET Q q 0 0 0 rg BT 189.81 142.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 221.18 142.10 Td (seasonality ) Tj ET Q q 0 0 0 rg BT 268.12 142.10 Td (will ) Tj ET Q q 0 0 0 rg BT 286.17 142.10 Td (have ) Tj ET Q q 0 0 0 rg BT 307.55 142.10 Td (an ) Tj ET Q q 0 0 0 rg BT 319.49 142.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 354.77 142.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 384.48 142.10 Td (on ) Tj ET Q q 0 0 0 rg BT 396.98 142.10 Td (our ) Tj ET Q q 0 0 0 rg BT 412.81 142.10 Td (business.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 70.10 118.10 Td (T) Tj ET Q q 0 0 0 rg BT 75.85 118.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 88.35 118.10 Td (Risks) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (If ) Tj ET Q q 0 0 0 rg BT 60.10 94.10 Td (our ) Tj ET Q q 0 0 0 rg BT 77.42 94.10 Td (company ) Tj ET Q q 0 0 0 rg BT 117.52 94.10 Td (were ) Tj ET Q q 0 0 0 rg BT 139.83 94.10 Td (not ) Tj ET Q q 0 0 0 rg BT 156.04 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 166.70 94.10 Td (be ) Tj ET Q q 0 0 0 rg BT 179.01 94.10 Td (treated ) Tj ET Q q 0 0 0 rg BT 210.21 94.10 Td (as ) Tj ET Q q 0 0 0 rg BT 221.98 94.10 Td (a ) Tj ET Q q 0 0 0 rg BT 229.85 94.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 250.51 94.10 Td (corporation ) Tj ET Q q 0 0 0 rg BT 301.73 94.10 Td (for ) Tj ET Q q 0 0 0 rg BT 316.82 94.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 337.48 94.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 369.23 94.10 Td (income ) Tj ET Q q 0 0 0 rg BT 402.10 94.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 417.76 94.10 Td (purposes, ) Tj ET Q q 0 0 0 rg BT 459.81 94.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 491.57 94.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 507.22 94.10 Td (inef) Tj ET Q q 0 0 0 rg BT 523.15 94.10 Td (ficiencies ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (would ) Tj ET Q q 0 0 0 rg BT 77.51 82.10 Td (result ) Tj ET Q q 0 0 0 rg BT 103.35 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 121.41 82.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 152.80 82.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 186.40 82.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 201.67 82.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 224.74 82.10 Td (would ) Tj ET Q q 0 0 0 rg BT 252.25 82.10 Td (apply) Tj ET Q q 0 0 0 rg BT 274.09 82.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 86.64 58.10 Td (to ) Tj ET Q q 0 0 0 rg BT 96.07 58.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 124.91 58.10 Td (expatriation ) Tj ET Q q 0 0 0 rg BT 183.19 58.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 226.51 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 236.48 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 250.34 58.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 269.77 58.10 Td (Internal ) Tj ET Q q 0 0 0 rg BT 302.51 58.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 339.14 58.10 Td (Code ) Tj ET Q q 0 0 0 rg BT 361.89 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 371.87 58.10 Td (1986, ) Tj ET Q q 0 0 0 rg BT 396.01 58.10 Td (as ) Tj ET Q q 0 0 0 rg BT 405.99 58.10 Td (amended, ) Tj ET Q q 0 0 0 rg BT 446.23 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 460.09 58.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 490.60 58.10 Td (mer) Tj ET Q q 0 0 0 rg BT 505.96 58.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 520.38 58.10 Td (agreement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 82.16 46.10 Td (to ) Tj ET Q q 0 0 0 rg BT 91.56 46.10 Td (the ) Tj ET Q q 0 0 0 rg BT 105.39 46.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 135.88 46.10 Td (mer) Tj ET Q q 0 0 0 rg BT 151.25 46.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 165.63 46.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 211.12 46.10 Td (described ) Tj ET Q q 0 0 0 rg BT 251.06 46.10 Td (below ) Tj ET Q q 0 0 0 rg BT 277.11 46.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 313.17 46.10 Td (that ) Tj ET Q q 0 0 0 rg BT 329.79 46.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.62 46.10 Td (parties ) Tj ET Q q 0 0 0 rg BT 371.89 46.10 Td (intend ) Tj ET Q q 0 0 0 rg BT 398.51 46.10 Td (to ) Tj ET Q q 0 0 0 rg BT 407.91 46.10 Td (treat ) Tj ET Q q 0 0 0 rg BT 427.29 46.10 Td (our ) Tj ET Q q 0 0 0 rg BT 442.24 46.10 Td (company ) Tj ET Q q 0 0 0 rg BT 480.51 46.10 Td (as ) Tj ET Q q 0 0 0 rg BT 490.46 46.10 Td (a ) Tj ET Q q 0 0 0 rg BT 496.52 46.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 515.92 46.10 Td (corporation ) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (for ) Tj ET Q q 0 0 0 rg BT 65.19 742.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 86.50 742.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 117.79 742.10 Td (income ) Tj ET Q q 0 0 0 rg BT 150.75 742.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 166.50 742.10 Td (purposes. ) Tj ET Q q 0 0 0 rg BT 207.83 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 226.90 742.10 Td (expatriation ) Tj ET Q q 0 0 0 rg BT 278.19 742.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 323.39 742.10 Td (are ) Tj ET Q q 0 0 0 rg BT 339.13 742.10 Td (complex, ) Tj ET Q q 0 0 0 rg BT 379.59 742.10 Td (are ) Tj ET Q q 0 0 0 rg BT 395.33 742.10 Td (lar) Tj ET Q q 0 0 0 rg BT 405.70 742.10 Td (gely ) Tj ET Q q 0 0 0 rg BT 426.44 742.10 Td (unsettled ) Tj ET Q q 0 0 0 rg BT 466.08 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 484.05 742.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 515.90 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 527.21 742.10 Td (dif) Tj ET Q q 0 0 0 rg BT 538.14 742.10 Td (fering ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (interpretations, ) Tj ET Q q 0 0 0 rg BT 112.92 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 130.01 730.10 Td (are ) Tj ET Q q 0 0 0 rg BT 144.87 730.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 175.85 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 186.29 730.10 Td (change, ) Tj ET Q q 0 0 0 rg BT 219.76 730.10 Td (perhaps ) Tj ET Q q 0 0 0 rg BT 253.52 730.10 Td (retroactively) Tj ET Q q 0 0 0 rg BT 303.39 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 308.55 730.10 Td (If ) Tj ET Q q 0 0 0 rg BT 317.87 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 333.85 730.10 Td (company ) Tj ET Q q 0 0 0 rg BT 373.16 730.10 Td (were ) Tj ET Q q 0 0 0 rg BT 395.25 730.10 Td (not ) Tj ET Q q 0 0 0 rg BT 410.68 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 421.12 730.10 Td (be ) Tj ET Q q 0 0 0 rg BT 433.21 730.10 Td (treated ) Tj ET Q q 0 0 0 rg BT 463.07 730.10 Td (as ) Tj ET Q q 0 0 0 rg BT 474.06 730.10 Td (a ) Tj ET Q q 0 0 0 rg BT 481.15 730.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 501.59 730.10 Td (corporation ) Tj ET Q q 0 0 0 rg BT 550.34 730.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 69.72 718.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 99.41 718.10 Td (income ) Tj ET Q q 0 0 0 rg BT 130.78 718.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 144.94 718.10 Td (purposes, ) Tj ET Q q 0 0 0 rg BT 184.93 718.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 214.07 718.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 228.22 718.10 Td (inef) Tj ET Q q 0 0 0 rg BT 243.59 718.10 Td (ficiencies ) Tj ET Q q 0 0 0 rg BT 283.83 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 300.21 718.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 332.69 718.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 346.84 718.10 Td (consequences ) Tj ET Q q 0 0 0 rg BT 403.75 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 420.13 718.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 458.72 718.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 512.86 718.10 Td (would ) Tj ET Q q 0 0 0 rg BT 539.80 718.10 Td (result ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (for ) Tj ET Q q 0 0 0 rg BT 65.01 706.10 Td (both ) Tj ET Q q 0 0 0 rg BT 86.13 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 102.81 706.10 Td (company ) Tj ET Q q 0 0 0 rg BT 142.81 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 160.60 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.16 706.10 Td (recipients ) Tj ET Q q 0 0 0 rg BT 218.38 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 236.17 706.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 268.95 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 280.63 706.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 305.09 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 316.21 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 332.89 706.10 Td (company) Tj ET Q q 0 0 0 rg BT 368.89 706.10 Td (, ) Tj ET Q q 0 0 0 rg BT 374.74 706.10 Td (including ) Tj ET Q q 0 0 0 rg BT 415.86 706.10 Td (that ) Tj ET Q q 0 0 0 rg BT 434.20 706.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 472.55 706.10 Td (distributions ) Tj ET Q q 0 0 0 rg BT 525.90 706.10 Td (from ) Tj ET Q q 0 0 0 rg BT 548.68 706.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 90.91 694.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 140.72 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 151.09 694.10 Td (us ) Tj ET Q q 0 0 0 rg BT 162.57 694.10 Td (would ) Tj ET Q q 0 0 0 rg BT 190.16 694.10 Td (be ) Tj ET Q q 0 0 0 rg BT 202.19 694.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 233.11 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 243.48 694.10 Td (30% ) Tj ET Q q 0 0 0 rg BT 264.40 694.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 284.78 694.10 Td (withholding ) Tj ET Q q 0 0 0 rg BT 335.70 694.10 Td (tax, ) Tj ET Q q 0 0 0 rg BT 353.01 694.10 Td (with ) Tj ET Q q 0 0 0 rg BT 373.38 694.10 Td (no ) Tj ET Q q 0 0 0 rg BT 385.97 694.10 Td (available ) Tj ET Q q 0 0 0 rg BT 424.65 694.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 465.01 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 482.04 694.10 Td (that ) Tj ET Q q 0 0 0 rg BT 499.63 694.10 Td (members ) Tj ET Q q 0 0 0 rg BT 538.87 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 694.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 103.43 682.10 Td (group ) Tj ET Q q 0 0 0 rg BT 129.64 682.10 Td (may ) Tj ET Q q 0 0 0 rg BT 149.75 682.10 Td (not ) Tj ET Q q 0 0 0 rg BT 165.41 682.10 Td (be ) Tj ET Q q 0 0 0 rg BT 177.73 682.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 218.94 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 229.60 682.10 Td (file ) Tj ET Q q 0 0 0 rg BT 245.82 682.10 Td (a ) Tj ET Q q 0 0 0 rg BT 253.14 682.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 306.57 682.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 327.24 682.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 342.34 682.10 Td (return ) Tj ET Q q 0 0 0 rg BT 369.10 682.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 406.98 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 417.65 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 432.75 682.10 Td (acceleration ) Tj ET Q q 0 0 0 rg BT 483.93 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 495.15 682.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 515.80 682.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 530.90 682.10 Td (outflow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.87 670.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 106.28 670.10 Td (permanent ) Tj ET Q q 0 0 0 rg BT 151.91 670.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 170.90 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 182.66 670.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 198.31 670.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 233.39 670.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 277.91 670.10 Td (with ) Tj ET Q q 0 0 0 rg BT 299.12 670.10 Td (net ) Tj ET Q q 0 0 0 rg BT 314.76 670.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 355.95 670.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 374.94 670.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 434.45 670.10 Td (that ) Tj ET Q q 0 0 0 rg BT 452.87 670.10 Td (could ) Tj ET Q q 0 0 0 rg BT 478.52 670.10 Td (have ) Tj ET Q q 0 0 0 rg BT 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600.10 Td (if, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 588.10 Td (among ) Tj ET Q q 0 0 0 rg BT 80.10 588.10 Td (other ) Tj ET Q q 0 0 0 rg BT 103.54 588.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 133.37 588.10 Td (the ) Tj ET Q q 0 0 0 rg BT 148.47 588.10 Td (stockholders ) Tj ET Q q 0 0 0 rg BT 201.90 588.10 Td (\(or ) Tj ET Q q 0 0 0 rg BT 216.45 588.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 255.43 588.10 Td (groups ) Tj ET Q q 0 0 0 rg BT 285.54 588.10 Td (of ) Tj ET Q q 0 0 0 rg BT 296.75 588.10 Td (stockholders\) ) Tj ET Q q 0 0 0 rg BT 353.52 588.10 Td (who ) Tj ET Q q 0 0 0 rg BT 373.62 588.10 Td (own ) Tj ET Q q 0 0 0 rg BT 393.73 588.10 Td (or ) Tj ET Q q 0 0 0 rg BT 404.95 588.10 Td (have ) Tj ET Q q 0 0 0 rg BT 426.71 588.10 Td (owned, ) Tj ET Q q 0 0 0 rg BT 458.75 588.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 492.18 588.10 Td (or ) Tj ET Q q 0 0 0 rg BT 503.40 588.10 Td (indirectly) Tj ET Q q 0 0 0 rg BT 541.07 588.10 Td (, ) Tj ET Q q 0 0 0 rg BT 546.46 588.10 Td (five ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 576.10 Td (percent ) Tj ET Q q 0 0 0 rg BT 81.86 576.10 Td (\(5%\) ) Tj ET Q q 0 0 0 rg BT 104.28 576.10 Td (or ) Tj ET Q q 0 0 0 rg BT 115.04 576.10 Td (more ) Tj ET Q q 0 0 0 rg BT 138.02 576.10 Td (of ) Tj ET Q q 0 0 0 rg BT 148.79 576.10 Td (our ) Tj ET Q q 0 0 0 rg BT 164.55 576.10 Td (common ) Tj ET Q q 0 0 0 rg BT 201.98 576.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 225.52 576.10 Td (or ) Tj ET Q q 0 0 0 rg BT 236.28 576.10 Td (are ) Tj ET Q q 0 0 0 rg BT 250.92 576.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 292.23 576.10 Td (treated ) Tj ET Q q 0 0 0 rg BT 321.87 576.10 Td (as ) Tj ET Q q 0 0 0 rg BT 332.63 576.10 Td (five ) Tj ET Q q 0 0 0 rg BT 350.61 576.10 Td (percent ) Tj ET Q q 0 0 0 rg BT 382.47 576.10 Td (\(5%\) ) Tj ET Q q 0 0 0 rg BT 404.89 576.10 Td (stockholders ) Tj ET Q q 0 0 0 rg BT 457.87 576.10 Td (under ) Tj ET Q q 0 0 0 rg BT 483.07 576.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 515.50 576.10 Td (382 ) Tj ET Q q 0 0 0 rg BT 532.93 576.10 Td (and ) Tj ET Q q 0 0 0 rg BT 549.81 576.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 96.38 564.10 Td (promulgated ) Tj ET Q q 0 0 0 rg BT 148.86 564.10 Td (thereunder ) Tj ET Q q 0 0 0 rg BT 193.56 564.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 228.26 564.10 Td (their ) Tj ET Q q 0 0 0 rg BT 248.53 564.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 289.33 564.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 334.58 564.10 Td (ownership ) Tj ET Q q 0 0 0 rg BT 378.18 564.10 Td (of ) Tj ET Q q 0 0 0 rg BT 388.45 564.10 Td (our ) Tj ET Q q 0 0 0 rg BT 403.73 564.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 426.78 564.10 Td (by ) Tj ET Q q 0 0 0 rg BT 438.72 564.10 Td (more ) Tj ET Q q 0 0 0 rg BT 461.21 564.10 Td (than ) Tj ET Q q 0 0 0 rg BT 480.37 564.10 Td (50 ) Tj ET Q q 0 0 0 rg BT 492.31 564.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 537.56 564.10 Td (points ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 552.10 Td (over ) Tj 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562.00 540.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 528.10 Td (carryforwards. ) Tj ET Q q 0 0 0 rg BT 111.59 528.10 Td (This ) Tj ET Q q 0 0 0 rg BT 132.62 528.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 162.52 528.10 Td (limitation ) Tj ET Q q 0 0 0 rg BT 204.66 528.10 Td (is ) Tj ET Q q 0 0 0 rg BT 214.58 528.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 255.03 528.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 279.93 528.10 Td (to ) Tj ET Q q 0 0 0 rg BT 290.96 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 306.42 528.10 Td (product ) Tj ET Q q 0 0 0 rg BT 340.22 528.10 Td (of ) Tj ET Q q 0 0 0 rg BT 351.80 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 367.26 528.10 Td (value ) Tj ET Q q 0 0 0 rg BT 392.17 528.10 Td (of ) Tj ET Q q 0 0 0 rg BT 403.75 528.10 Td (our ) Tj ET Q q 0 0 0 rg BT 420.32 528.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 444.68 528.10 Td (on ) Tj ET Q q 0 0 0 rg BT 457.93 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.40 528.10 Td (date ) Tj ET Q q 0 0 0 rg BT 493.30 528.10 Td (of ) Tj ET Q q 0 0 0 rg BT 504.88 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 520.34 528.10 Td (ownership ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 516.10 Td (change, ) Tj ET Q q 0 0 0 rg BT 84.19 516.10 Td (multiplied ) Tj ET Q q 0 0 0 rg BT 128.67 516.10 Td (by ) Tj ET Q q 0 0 0 rg BT 142.05 516.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.64 516.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 200.45 516.10 Td (tax-exempt ) Tj ET Q q 0 0 0 rg BT 248.81 516.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 267.17 516.10 Td (published ) Tj ET Q q 0 0 0 rg BT 309.43 516.10 Td (monthly ) Tj ET Q q 0 0 0 rg BT 346.14 516.10 Td (by ) Tj ET Q q 0 0 0 rg BT 359.52 516.10 Td (the ) Tj ET Q q 0 0 0 rg BT 375.11 516.10 Td (Internal ) Tj ET Q q 0 0 0 rg BT 409.58 516.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 447.94 516.10 Td (Service. ) Tj ET Q q 0 0 0 rg BT 483.05 516.10 Td (Any ) Tj ET Q q 0 0 0 rg BT 503.65 516.10 Td (unused ) Tj ET Q q 0 0 0 rg BT 535.36 516.10 Td (annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 504.10 Td (limitation ) Tj ET Q q 0 0 0 rg BT 91.39 504.10 Td (may ) Tj ET Q q 0 0 0 rg BT 111.10 504.10 Td (be ) Tj ET Q q 0 0 0 rg BT 123.04 504.10 Td (carried ) Tj ET Q q 0 0 0 rg BT 153.30 504.10 Td (over ) Tj ET Q q 0 0 0 rg BT 173.56 504.10 Td (to ) Tj ET Q q 0 0 0 rg BT 183.84 504.10 Td (later ) Tj ET Q q 0 0 0 rg BT 204.11 504.10 Td (years ) Tj ET Q q 0 0 0 rg BT 227.71 504.10 Td (until ) Tj ET Q q 0 0 0 rg BT 248.54 504.10 Td (the ) Tj ET Q q 0 0 0 rg BT 263.26 504.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 306.85 504.10 Td (expiration ) Tj ET Q q 0 0 0 rg BT 349.89 504.10 Td (date ) Tj ET Q q 0 0 0 rg BT 369.04 504.10 Td (for ) Tj ET Q q 0 0 0 rg BT 383.20 504.10 Td (the ) Tj ET Q q 0 0 0 rg BT 397.92 504.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 440.95 504.10 Td (NOL) Tj ET Q q 0 0 0 rg BT 461.13 504.10 Td ( ) Tj ET Q q 0 0 0 rg BT 463.63 504.10 Td (carryforwards.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 480.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.41 480.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 90.72 480.10 Td (of ) Tj ET Q q 0 0 0 rg BT 101.91 480.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 134.78 480.10 Td (382 ) Tj ET Q q 0 0 0 rg BT 152.64 480.10 Td (are ) Tj ET Q q 0 0 0 rg BT 167.71 480.10 Td (complex ) Tj ET Q q 0 0 0 rg BT 205.01 480.10 Td (and ) Tj ET Q q 0 0 0 rg BT 222.32 480.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 253.51 480.10 Td (to ) Tj ET Q q 0 0 0 rg BT 264.16 480.10 Td (varying ) Tj ET Q q 0 0 0 rg BT 297.57 480.10 Td (interpretations. ) Tj ET Q q 0 0 0 rg BT 360.69 480.10 Td (Because ) Tj ET Q q 0 0 0 rg BT 396.88 480.10 Td (of ) Tj ET Q q 0 0 0 rg BT 408.07 480.10 Td (our ) Tj ET Q q 0 0 0 rg BT 424.27 480.10 Td (numerous ) Tj ET Q q 0 0 0 rg BT 466.57 480.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 494.43 480.10 Td (issuances, ) Tj ET Q q 0 0 0 rg BT 537.57 480.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 468.10 Td (have ) Tj ET Q q 0 0 0 rg BT 71.88 468.10 Td (included ) Tj ET Q q 0 0 0 rg BT 109.32 468.10 Td (the ) Tj ET Q q 0 0 0 rg BT 124.55 468.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 161.43 468.10 Td (of ) Tj ET Q q 0 0 0 rg BT 172.77 468.10 Td (various ) Tj ET Q q 0 0 0 rg BT 205.21 468.10 Td (classes ) Tj ET Q q 0 0 0 rg BT 235.99 468.10 Td (of ) Tj ET Q q 0 0 0 rg BT 247.33 468.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 295.31 468.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 336.08 468.10 Td (and ) Tj ET Q q 0 0 0 rg BT 353.53 468.10 Td (warrants, ) Tj ET Q q 0 0 0 rg BT 393.46 468.10 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 441.45 468.10 Td (existed ) Tj ET Q q 0 0 0 rg BT 472.78 468.10 Td (as ) Tj ET Q q 0 0 0 rg BT 484.12 468.10 Td (to ) Tj ET Q q 0 0 0 rg BT 494.91 468.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 530.12 468.10 Td (we ) Tj ET Q q 0 0 0 rg BT 544.79 468.10 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 456.10 Td (have ) Tj ET Q q 0 0 0 rg BT 71.57 456.10 Td (under) Tj ET Q q 0 0 0 rg BT 94.15 456.10 Td (gone ) Tj ET Q q 0 0 0 rg BT 116.28 456.10 Td (an ) Tj ET Q q 0 0 0 rg BT 128.41 456.10 Td (ownership ) Tj ET Q q 0 0 0 rg BT 172.76 456.10 Td (change ) Tj ET Q q 0 0 0 rg BT 203.76 456.10 Td (in ) Tj ET Q q 0 0 0 rg BT 214.23 456.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.14 456.10 Td (past ) Tj ET Q q 0 0 0 rg BT 247.94 456.10 Td (or ) Tj ET Q q 0 0 0 rg BT 258.96 456.10 Td (will ) Tj ET Q q 0 0 0 rg BT 277.20 456.10 Td (under) Tj ET Q q 0 0 0 rg BT 299.79 456.10 Td (go ) Tj ET Q q 0 0 0 rg BT 312.48 456.10 Td (one ) Tj ET Q q 0 0 0 rg BT 329.61 456.10 Td (as ) Tj ET Q q 0 0 0 rg BT 340.63 456.10 Td (a ) Tj ET Q q 0 0 0 rg BT 347.75 456.10 Td (result ) Tj ET Q q 0 0 0 rg BT 372.66 456.10 Td (of ) Tj ET Q q 0 0 0 rg BT 383.68 456.10 Td (our ) Tj ET Q q 0 0 0 rg BT 399.70 456.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 426.81 456.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 447.29 456.10 Td (public ) Tj ET Q q 0 0 0 rg BT 474.97 456.10 Td (of) Tj ET Q q 0 0 0 rg BT 483.12 456.10 Td (fering. ) Tj ET Q q 0 0 0 rg BT 512.19 456.10 Td ( ) Tj ET Q q 0 0 0 rg BT 514.88 456.10 Td (Based ) Tj ET Q q 0 0 0 rg BT 542.00 456.10 Td (upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 444.10 Td (management's ) Tj ET Q q 0 0 0 rg BT 109.36 444.10 Td (assessment, ) Tj ET Q q 0 0 0 rg BT 158.88 444.10 Td (it ) Tj ET Q q 0 0 0 rg BT 167.01 444.10 Td (was ) Tj ET Q q 0 0 0 rg BT 185.14 444.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 232.70 444.10 Td (that ) Tj ET Q q 0 0 0 rg BT 250.27 444.10 Td (at ) Tj ET Q q 0 0 0 rg BT 260.06 444.10 Td (the ) Tj ET Q q 0 0 0 rg BT 274.86 444.10 Td (date ) Tj ET Q q 0 0 0 rg BT 294.09 444.10 Td (of ) Tj ET Q q 0 0 0 rg BT 305.00 444.10 Td (the ) Tj ET Q q 0 0 0 rg BT 319.79 444.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 340.15 444.10 Td (public ) Tj ET Q q 0 0 0 rg BT 367.72 444.10 Td (of) Tj ET Q q 0 0 0 rg BT 375.87 444.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 402.33 444.10 Td (there ) Tj ET Q q 0 0 0 rg BT 424.89 444.10 Td (was ) Tj ET Q q 0 0 0 rg BT 443.02 444.10 Td (not ) Tj ET Q q 0 0 0 rg BT 458.37 444.10 Td (an ) Tj ET Q q 0 0 0 rg BT 470.39 444.10 Td ("ownership ) Tj ET Q q 0 0 0 rg BT 518.71 444.10 Td (change" ) Tj ET Q q 0 0 0 rg BT 553.68 444.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 82.49 432.10 Td (by ) Tj ET Q q 0 0 0 rg BT 94.99 432.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 127.48 432.10 Td (382. ) Tj ET Q q 0 0 0 rg BT 147.49 432.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.99 432.10 Td (However) Tj ET Q q 0 0 0 rg BT 186.24 432.10 Td (, ) Tj ET Q q 0 0 0 rg BT 191.24 432.10 Td (on ) Tj ET Q q 0 0 0 rg BT 203.74 432.10 Td (July ) Tj ET Q q 0 0 0 rg BT 222.91 432.10 Td (22, ) Tj ET Q q 0 0 0 rg BT 237.91 432.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 262.92 432.10 Td (as ) Tj ET Q q 0 0 0 rg BT 273.75 432.10 Td (a ) Tj ET Q q 0 0 0 rg BT 280.69 432.10 Td (result ) Tj ET Q q 0 0 0 rg BT 305.40 432.10 Td (of ) Tj ET Q q 0 0 0 rg BT 316.24 432.10 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 365.38 432.10 Td (activity) Tj ET Q q 0 0 0 rg BT 394.72 432.10 Td (, ) Tj ET Q q 0 0 0 rg BT 399.73 432.10 Td (a ) Tj ET Q q 0 0 0 rg BT 406.67 432.10 Td ("triggering ) Tj ET Q q 0 0 0 rg BT 452.68 432.10 Td (event" ) Tj ET Q q 0 0 0 rg BT 480.92 432.10 Td (as ) Tj ET Q q 0 0 0 rg BT 491.75 432.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 539.23 432.10 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.10 Td (IRC ) Tj ET Q q 0 0 0 rg BT 70.65 420.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 104.63 420.10 Td (382 ) Tj ET Q q 0 0 0 rg BT 123.62 420.10 Td (was ) Tj ET Q q 0 0 0 rg BT 143.15 420.10 Td (reached. ) Tj ET Q q 0 0 0 rg BT 179.84 420.10 Td (As ) Tj ET Q q 0 0 0 rg BT 194.94 420.10 Td (a ) Tj ET Q q 0 0 0 rg BT 203.36 420.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 232.06 420.10 Td (under ) Tj ET Q q 0 0 0 rg BT 258.82 420.10 Td (IRC ) Tj ET Q q 0 0 0 rg BT 279.47 420.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 313.45 420.10 Td (382, ) Tj ET Q q 0 0 0 rg BT 334.94 420.10 Td (the ) Tj ET Q q 0 0 0 rg BT 351.14 420.10 Td (use ) Tj ET Q q 0 0 0 rg BT 368.45 420.10 Td (of ) Tj ET Q q 0 0 0 rg BT 380.77 420.10 Td (the ) Tj ET Q q 0 0 0 rg BT 396.97 420.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 445.53 420.10 Td (net ) Tj ET Q q 0 0 0 rg BT 461.73 420.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 503.48 420.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 523.03 420.10 Td (and ) Tj ET Q q 0 0 0 rg BT 541.45 420.10 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 108.44 408.10 Td (will ) Tj ET Q q 0 0 0 rg BT 126.35 408.10 Td (be ) Tj ET Q q 0 0 0 rg BT 138.14 408.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 168.83 408.10 Td (as ) Tj ET Q q 0 0 0 rg BT 179.51 408.10 Td (a ) Tj ET Q q 0 0 0 rg BT 186.31 408.10 Td (result ) Tj ET Q q 0 0 0 rg BT 210.88 408.10 Td (of ) Tj ET Q q 0 0 0 rg BT 221.57 408.10 Td (this ) Tj ET Q q 0 0 0 rg BT 238.37 408.10 Td ("ownership ) Tj ET Q q 0 0 0 rg BT 286.47 408.10 Td (change ) Tj ET Q q 0 0 0 rg BT 321.58 408.10 Td (for ) Tj ET Q q 0 0 0 rg BT 335.60 408.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 350.17 408.10 Td (purposes, ) Tj ET Q q 0 0 0 rg BT 390.58 408.10 Td (which ) Tj ET Q q 0 0 0 rg BT 417.37 408.10 Td (is ) Tj ET Q q 0 0 0 rg BT 426.40 408.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 458.74 408.10 Td (as ) Tj ET Q q 0 0 0 rg BT 469.42 408.10 Td (a ) Tj ET Q q 0 0 0 rg BT 476.22 408.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 523.00 408.10 Td (change ) Tj ET Q q 0 0 0 rg BT 553.67 408.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (more ) Tj ET Q q 0 0 0 rg BT 73.05 396.10 Td (than ) Tj ET Q q 0 0 0 rg BT 92.76 396.10 Td (50% ) Tj ET Q q 0 0 0 rg BT 113.59 396.10 Td (during ) Tj ET Q q 0 0 0 rg BT 142.20 396.10 Td (any ) Tj ET Q q 0 0 0 rg BT 159.14 396.10 Td (three-year ) Tj ET Q q 0 0 0 rg BT 202.16 396.10 Td (period ) Tj ET Q q 0 0 0 rg BT 230.21 396.10 Td (by ) Tj ET Q q 0 0 0 rg BT 242.71 396.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 295.75 396.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.58 396.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.29 396.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 368.37 396.10 Td (shares. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.10 Td (Following ) Tj ET Q q 0 0 0 rg BT 93.02 379.10 Td (this ) Tj ET Q q 0 0 0 rg BT 109.38 379.10 Td (triggering ) Tj ET Q q 0 0 0 rg BT 150.71 379.10 Td (event, ) Tj ET Q q 0 0 0 rg BT 176.77 379.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.89 379.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 231.68 379.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 270.80 379.10 Td (that ) Tj ET Q q 0 0 0 rg BT 287.70 379.10 Td (it ) Tj ET Q q 0 0 0 rg BT 295.16 379.10 Td (will ) Tj ET Q q 0 0 0 rg BT 312.62 379.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 337.29 379.10 Td (total ) Tj ET Q q 0 0 0 rg BT 356.97 379.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 371.09 379.10 Td (ef) Tj ET Q q 0 0 0 rg BT 378.68 379.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 405.00 379.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 434.66 379.10 Td (net ) Tj ET Q q 0 0 0 rg BT 448.78 379.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 488.45 379.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 505.92 379.10 Td (carryforwards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.47 367.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.38 367.10 Td ($14.2 ) Tj ET Q q 0 0 0 rg BT 148.02 367.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.91 367.10 Td ( ) Tj ET Q q 0 0 0 rg BT 180.06 367.10 Td (as ) Tj ET Q q 0 0 0 rg BT 191.53 367.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.01 367.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 262.24 367.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.24 367.10 Td (. ) Tj ET Q q 0 0 0 rg BT 287.88 367.10 Td ( ) Tj ET Q q 0 0 0 rg BT 291.03 367.10 Td (Book ) Tj ET Q q 0 0 0 rg BT 315.84 367.10 Td (value ) Tj ET Q q 0 0 0 rg BT 340.64 367.10 Td (per ) Tj ET Q q 0 0 0 rg BT 356.55 367.10 Td (common ) Tj ET Q q 0 0 0 rg BT 394.69 367.10 Td (share ) Tj ET Q q 0 0 0 rg BT 418.94 367.10 Td (was ) Tj ET Q q 0 0 0 rg BT 437.63 367.10 Td (unaf) Tj ET Q q 0 0 0 rg BT 455.22 367.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 482.79 367.10 Td (by ) Tj ET Q q 0 0 0 rg BT 495.93 367.10 Td (this ) Tj ET Q q 0 0 0 rg BT 513.53 367.10 Td (event ) Tj ET Q q 0 0 0 rg BT 538.33 367.10 Td (as ) Tj ET Q q 0 0 0 rg BT 549.80 367.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 82.75 355.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.84 355.10 Td (lost ) Tj ET Q q 0 0 0 rg BT 111.05 355.10 Td (net ) Tj ET Q q 0 0 0 rg BT 126.02 355.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 162.08 355.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 177.06 355.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 203.15 355.10 Td (were ) Tj ET Q q 0 0 0 rg BT 225.33 355.10 Td (of) Tj ET Q q 0 0 0 rg BT 233.48 355.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 250.68 355.10 Td (by ) Tj ET Q q 0 0 0 rg BT 263.44 355.10 Td (a ) Tj ET Q q 0 0 0 rg BT 270.63 355.10 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 330.60 355.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 367.77 355.10 Td (in ) Tj ET Q q 0 0 0 rg BT 378.31 355.10 Td (the ) Tj ET Q q 0 0 0 rg BT 393.28 355.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 433.25 355.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 476.54 355.10 Td (that ) Tj ET Q q 0 0 0 rg BT 494.29 355.10 Td (was ) Tj ET Q q 0 0 0 rg BT 512.60 355.10 Td (already ) Tj ET Q q 0 0 0 rg BT 544.79 355.10 Td (held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (against ) Tj ET Q q 0 0 0 rg BT 80.83 343.10 Td (the ) Tj ET Q q 0 0 0 rg BT 95.54 343.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 131.92 343.10 Td (of ) Tj ET Q q 0 0 0 rg BT 142.75 343.10 Td (these ) Tj ET Q q 0 0 0 rg BT 165.80 343.10 Td (assets. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.61 326.10 Td (has ) Tj ET Q q 0 0 0 rg BT 89.44 326.10 Td (the ) Tj ET Q q 0 0 0 rg BT 104.16 326.10 Td (following ) Tj ET Q q 0 0 0 rg BT 145.54 326.10 Td (total ) Tj ET Q q 0 0 0 rg BT 165.82 326.10 Td (net ) Tj ET Q q 0 0 0 rg BT 180.53 326.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 220.80 326.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 238.86 326.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 297.44 326.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 326.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 365.74 326.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.74 326.10 Td (:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 301.35 Td (Net Operating Loss Carryforward by Expiry \(in 000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 295.60 230.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 295.60 227.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 295.60 45.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 273.60 230.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 273.60 227.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 273.60 45.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 251.60 230.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 251.60 227.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 251.60 45.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 229.60 230.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 229.60 227.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 229.60 45.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 207.60 230.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 207.60 227.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 207.60 45.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 185.60 230.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 185.60 227.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 185.60 45.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 295.6 m 280.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 284.6 m 280.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 295.6 m 507.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 284.6 m 507.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 295.6 m 552.5 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 284.6 m 552.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 284.6 m 280.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 284.6 m 507.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 284.6 m 552.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 185.60000000000002 m 280.5 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 185.60000000000002 m 507.5 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 185.60000000000002 m 552.5 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 185.60000000000002 m 280.5 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 175.60000000000002 m 280.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 173.60000000000002 m 280.5 173.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 185.60000000000002 m 507.5 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 175.60000000000002 m 507.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 173.60000000000002 m 507.5 173.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 185.60000000000002 m 552.5 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 175.60000000000002 m 552.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 173.60000000000002 m 552.5 173.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.05 286.22 Td (Year of Occurrence) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.50 286.22 Td (Year of Expiration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.10 286.22 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 275.22 Td (2001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 275.22 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 275.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 275.22 Td (7,734) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 264.22 Td (2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 264.22 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 264.22 Td (4,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 253.22 Td (2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 253.22 Td (2026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 253.22 Td (7,825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 242.22 Td (2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 242.22 Td (2027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 242.22 Td (5,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 231.22 Td (2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 231.22 Td (2028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 231.22 Td (1,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 220.22 Td (2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 220.22 Td (2029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 220.22 Td (1,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 209.22 Td (2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 209.22 Td (2030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 209.22 Td (1,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 198.22 Td (2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 198.22 Td (2031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 198.22 Td (8,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 187.22 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 187.22 Td (2032) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 187.22 Td (2,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 176.22 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 176.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.10 176.22 Td (41,801) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.10 Td (Further ) Tj ET Q q 0 0 0 rg BT 82.31 158.10 Td (limitations ) Tj ET Q q 0 0 0 rg BT 127.97 158.10 Td (on ) Tj ET Q q 0 0 0 rg BT 140.84 158.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.93 158.10 Td (utilization ) Tj ET Q q 0 0 0 rg BT 199.36 158.10 Td (of ) Tj ET Q q 0 0 0 rg BT 210.56 158.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 237.33 158.10 Td (may ) Tj ET Q q 0 0 0 rg BT 257.42 158.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 282.51 158.10 Td (because ) Tj ET Q q 0 0 0 rg BT 317.03 158.10 Td (of ) Tj ET Q q 0 0 0 rg BT 328.24 158.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.33 158.10 Td (dual ) Tj ET Q q 0 0 0 rg BT 367.86 158.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 421.28 158.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 444.15 158.10 Td (rules, ) Tj ET Q q 0 0 0 rg BT 468.96 158.10 Td (which ) Tj ET Q q 0 0 0 rg BT 496.28 158.10 Td (will ) Tj ET Q q 0 0 0 rg BT 514.71 158.10 Td (also ) Tj ET Q q 0 0 0 rg BT 533.69 158.10 Td (require ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 146.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.16 146.10 Td (company ) Tj ET Q q 0 0 0 rg BT 103.64 146.10 Td (to ) Tj ET Q q 0 0 0 rg BT 113.25 146.10 Td (recapture ) Tj ET Q q 0 0 0 rg BT 152.27 146.10 Td (into ) Tj ET Q q 0 0 0 rg BT 169.66 146.10 Td (income ) Tj ET Q q 0 0 0 rg BT 200.92 146.10 Td (the ) Tj ET Q q 0 0 0 rg BT 214.96 146.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 246.79 146.10 Td (of ) Tj ET Q q 0 0 0 rg BT 256.95 146.10 Td (any ) Tj ET Q q 0 0 0 rg BT 273.21 146.10 Td (such ) Tj ET Q q 0 0 0 rg BT 293.37 146.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 325.19 146.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 350.91 146.10 Td (in ) Tj ET Q q 0 0 0 rg BT 360.52 146.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 389.55 146.10 Td (circumstances. ) Tj ET Q q 0 0 0 rg BT 450.11 146.10 Td (As ) Tj ET Q q 0 0 0 rg BT 463.06 146.10 Td (a ) Tj ET Q q 0 0 0 rg BT 469.32 146.10 Td (result ) Tj ET Q q 0 0 0 rg BT 493.37 146.10 Td (of ) Tj ET Q q 0 0 0 rg BT 503.53 146.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.57 146.10 Td (application ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 134.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.68 134.10 Td (these ) Tj ET Q q 0 0 0 rg BT 83.58 134.10 Td (rules, ) Tj ET Q q 0 0 0 rg BT 107.87 134.10 Td (the ) Tj ET Q q 0 0 0 rg BT 122.43 134.10 Td (future ) Tj ET Q q 0 0 0 rg BT 148.66 134.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 163.23 134.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 196.69 134.10 Td (of ) Tj ET Q q 0 0 0 rg BT 207.37 134.10 Td (our ) Tj ET Q q 0 0 0 rg BT 223.05 134.10 Td (company ) Tj ET Q q 0 0 0 rg BT 262.05 134.10 Td (and ) Tj ET Q q 0 0 0 rg BT 278.84 134.10 Td (our ) Tj ET Q q 0 0 0 rg BT 294.52 134.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 335.19 134.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 384.75 134.10 Td (could ) Tj ET Q q 0 0 0 rg BT 409.32 134.10 Td (be ) Tj ET Q q 0 0 0 rg BT 421.11 134.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 473.45 134.10 Td (increased. ) Tj ET Q q 0 0 0 rg BT 516.05 134.10 Td (In ) Tj ET Q q 0 0 0 rg BT 526.73 134.10 Td (addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 122.10 Td (taxable ) Tj ET Q q 0 0 0 rg BT 81.04 122.10 Td (income ) Tj ET Q q 0 0 0 rg BT 112.65 122.10 Td (may ) Tj ET Q q 0 0 0 rg BT 132.03 122.10 Td (also ) Tj ET Q q 0 0 0 rg BT 150.31 122.10 Td (be ) Tj ET Q q 0 0 0 rg BT 161.92 122.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 207.95 122.10 Td (by ) Tj ET Q q 0 0 0 rg BT 220.12 122.10 Td (our ) Tj ET Q q 0 0 0 rg BT 235.63 122.10 Td (company ) Tj ET Q q 0 0 0 rg BT 274.45 122.10 Td (or ) Tj ET Q q 0 0 0 rg BT 284.95 122.10 Td (our ) Tj ET Q q 0 0 0 rg BT 300.45 122.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 340.94 122.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 390.32 122.10 Td (in ) Tj ET Q q 0 0 0 rg BT 400.27 122.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 446.32 122.10 Td (with ) Tj ET Q q 0 0 0 rg BT 466.26 122.10 Td (the ) Tj ET Q q 0 0 0 rg BT 480.65 122.10 Td (2010 ) Tj ET Q q 0 0 0 rg BT 502.82 122.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 533.86 122.10 Td (mer) Tj ET Q q 0 0 0 rg BT 549.23 122.10 Td (ger ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 110.10 Td (transaction.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 86.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 86.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.09 86.10 Td (do ) Tj ET Q q 0 0 0 rg BT 77.59 86.10 Td (not ) Tj ET Q q 0 0 0 rg BT 93.43 86.10 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 136.48 86.10 Td (paying ) Tj ET Q q 0 0 0 rg BT 166.76 86.10 Td (any ) Tj ET Q q 0 0 0 rg BT 184.26 86.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 205.65 86.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 247.04 86.10 Td (for ) Tj ET Q q 0 0 0 rg BT 261.76 86.10 Td (the ) Tj ET Q q 0 0 0 rg BT 277.04 86.10 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 326.18 86.10 Td (future.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 62.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 62.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.16 62.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 103.34 62.10 Td (intend ) Tj ET Q q 0 0 0 rg BT 130.43 62.10 Td (to ) Tj ET Q q 0 0 0 rg BT 140.29 62.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 165.14 62.10 Td (our ) Tj ET Q q 0 0 0 rg BT 180.56 62.10 Td (future ) Tj ET Q q 0 0 0 rg BT 206.53 62.10 Td (earnings, ) Tj ET Q q 0 0 0 rg BT 244.99 62.10 Td (if ) Tj ET Q q 0 0 0 rg BT 253.19 62.10 Td (any) Tj ET Q q 0 0 0 rg BT 266.98 62.10 Td (, ) Tj ET Q q 0 0 0 rg BT 271.56 62.10 Td (for ) Tj ET Q q 0 0 0 rg BT 285.31 62.10 Td (the ) Tj ET Q q 0 0 0 rg BT 299.61 62.10 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 347.22 62.10 Td (future, ) Tj ET Q q 0 0 0 rg BT 375.69 62.10 Td (for ) Tj ET Q q 0 0 0 rg BT 389.44 62.10 Td (working ) Tj ET Q q 0 0 0 rg BT 424.85 62.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 453.59 62.10 Td (and ) Tj ET Q q 0 0 0 rg BT 470.12 62.10 Td (other ) Tj ET Q q 0 0 0 rg BT 492.75 62.10 Td (general ) Tj ET Q q 0 0 0 rg BT 524.26 62.10 Td (corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 50.10 Td (purposes. ) Tj ET Q q 0 0 0 rg BT 90.20 50.10 Td (W) Tj ET Q q 0 0 0 rg BT 98.84 50.10 Td (e ) Tj ET Q q 0 0 0 rg BT 105.60 50.10 Td (do ) Tj ET Q q 0 0 0 rg BT 117.92 50.10 Td (not ) Tj ET Q q 0 0 0 rg BT 133.02 50.10 Td (intend ) Tj ET Q q 0 0 0 rg BT 160.33 50.10 Td (to ) Tj ET Q q 0 0 0 rg BT 170.43 50.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 187.19 50.10 Td (any ) Tj ET Q q 0 0 0 rg BT 203.94 50.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 245.15 50.10 Td (to ) Tj ET Q q 0 0 0 rg BT 255.25 50.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 287.01 50.10 Td (of ) Tj ET Q q 0 0 0 rg BT 297.65 50.10 Td (our ) Tj ET Q q 0 0 0 rg BT 313.30 50.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 349.50 50.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 378.80 50.10 Td (As ) Tj ET Q q 0 0 0 rg BT 392.23 50.10 Td (a ) Tj ET Q q 0 0 0 rg BT 398.99 50.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 426.02 50.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 454.99 50.10 Td (appreciation ) Tj ET Q q 0 0 0 rg BT 506.73 50.10 Td (in ) Tj ET Q q 0 0 0 rg BT 516.83 50.10 Td (the ) Tj ET Q q 0 0 0 rg BT 531.37 50.10 Td (price ) Tj ET Q q 0 0 0 rg BT 553.67 50.10 Td (of ) Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.95 742.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 102.44 742.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 132.55 742.10 Td (if ) Tj ET Q q 0 0 0 rg BT 141.27 742.10 Td (any) Tj ET Q q 0 0 0 rg BT 155.06 742.10 Td (, ) Tj ET Q q 0 0 0 rg BT 160.18 742.10 Td (will ) Tj ET Q q 0 0 0 rg BT 178.35 742.10 Td (be ) Tj ET Q q 0 0 0 rg BT 190.41 742.10 Td (your ) Tj ET Q q 0 0 0 rg BT 211.36 742.10 Td (only ) Tj ET Q q 0 0 0 rg BT 231.75 742.10 Td (source ) Tj ET Q q 0 0 0 rg BT 260.47 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 271.42 742.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 291.25 742.10 Td (on ) Tj ET Q q 0 0 0 rg BT 303.87 742.10 Td (an ) Tj ET Q q 0 0 0 rg BT 315.92 742.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 362.42 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 372.82 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 388.76 742.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 425.26 742.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 455.18 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 463.81 742.10 Td (e ) Tj ET Q q 0 0 0 rg BT 470.87 742.10 Td (have ) Tj ET Q q 0 0 0 rg BT 492.36 742.10 Td (never ) Tj ET Q q 0 0 0 rg BT 517.19 742.10 Td (declared ) Tj ET Q q 0 0 0 rg BT 553.67 742.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 68.84 730.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 88.23 730.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 128.73 730.10 Td (on ) Tj ET Q q 0 0 0 rg BT 140.35 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 155.30 730.10 Td (common ) Tj ET Q q 0 0 0 rg BT 191.92 730.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 214.65 730.10 Td (since ) Tj ET Q q 0 0 0 rg BT 236.46 730.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 260.99 730.10 Td (inception ) Tj ET Q q 0 0 0 rg BT 299.82 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 309.22 730.10 Td (2010. ) Tj ET Q q 0 0 0 rg BT 332.98 730.10 Td (Any ) Tj ET Q q 0 0 0 rg BT 351.82 730.10 Td (future ) Tj ET Q q 0 0 0 rg BT 377.32 730.10 Td (determination ) Tj ET Q q 0 0 0 rg BT 434.47 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 443.87 730.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 459.93 730.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 500.44 730.10 Td (on ) Tj ET Q q 0 0 0 rg BT 512.06 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 527.01 730.10 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 74.03 718.10 Td (will ) Tj ET Q q 0 0 0 rg BT 92.50 718.10 Td (be ) Tj ET Q q 0 0 0 rg BT 104.86 718.10 Td (at ) Tj ET Q q 0 0 0 rg BT 115.00 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 130.14 718.10 Td (discretion ) Tj ET Q q 0 0 0 rg BT 172.49 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.74 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 199.99 718.10 Td (board ) Tj ET Q q 0 0 0 rg BT 225.68 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 236.93 718.10 Td (directors, ) Tj ET Q q 0 0 0 rg BT 277.33 718.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 308.58 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 319.28 718.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 363.29 718.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 387.04 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 404.39 718.10 Td (will ) Tj ET Q q 0 0 0 rg BT 422.87 718.10 Td (depend ) Tj ET Q q 0 0 0 rg BT 454.67 718.10 Td (on ) Tj ET Q q 0 0 0 rg BT 467.59 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 483.84 718.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 521.74 718.10 Td (condition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (results ) Tj ET Q q 0 0 0 rg BT 79.25 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 90.72 706.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 138.01 706.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 167.80 706.10 Td (requirements, ) Tj ET Q q 0 0 0 rg BT 225.64 706.10 Td (general ) Tj ET Q q 0 0 0 rg BT 258.20 706.10 Td (business ) Tj ET Q q 0 0 0 rg BT 295.23 706.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 342.54 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 360.11 706.10 Td (other ) Tj ET Q q 0 0 0 rg BT 383.80 706.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 414.14 706.10 Td (that ) Tj ET Q q 0 0 0 rg BT 432.28 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 448.75 706.10 Td (board ) Tj ET Q q 0 0 0 rg BT 474.65 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 486.12 706.10 Td (directors ) Tj ET Q q 0 0 0 rg BT 524.25 706.10 Td (considers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (relevant. ) Tj ET Q q 0 0 0 rg BT 87.35 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.99 694.10 Td (In ) Tj ET Q q 0 0 0 rg BT 100.96 694.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 138.88 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 153.74 694.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 194.70 694.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 215.67 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.75 694.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 279.83 694.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 323.02 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 338.99 694.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 379.95 694.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 429.81 694.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 461.89 694.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 508.96 694.10 Td (on ) Tj ET Q q 0 0 0 rg BT 521.61 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 536.47 694.10 Td (ability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.22 682.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 77.10 682.10 Td (dividends, ) Tj ET Q q 0 0 0 rg BT 120.92 682.10 Td (or ) Tj ET Q q 0 0 0 rg BT 131.70 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 141.91 682.10 Td (make ) Tj ET Q q 0 0 0 rg BT 166.01 682.10 Td (other ) Tj ET Q q 0 0 0 rg BT 189.00 682.10 Td (distributions ) Tj ET Q q 0 0 0 rg BT 241.44 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 251.66 682.10 Td (us, ) Tj ET Q q 0 0 0 rg BT 265.49 682.10 Td (which ) Tj ET Q q 0 0 0 rg BT 292.37 682.10 Td (may ) Tj ET Q q 0 0 0 rg BT 312.03 682.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 333.36 682.10 Td (our ) Tj ET Q q 0 0 0 rg BT 349.13 682.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 377.12 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 387.34 682.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 404.22 682.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 445.55 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 455.77 682.10 Td (our ) Tj ET Q q 0 0 0 rg BT 471.54 682.10 Td (common ) Tj ET Q q 0 0 0 rg BT 508.97 682.10 Td (shareholders.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Holders ) Tj ET Q q 0 0 0 rg BT 84.05 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 94.78 658.10 Td (our ) Tj ET Q q 0 0 0 rg BT 110.50 658.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 149.53 658.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 176.91 658.10 Td (are ) Tj ET Q q 0 0 0 rg BT 191.51 658.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 223.89 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 234.06 658.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 275.34 658.10 Td (on ) Tj ET Q q 0 0 0 rg BT 287.73 658.10 Td (a ) Tj ET Q q 0 0 0 rg BT 294.57 658.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 341.39 658.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 363.78 658.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 398.38 658.10 Td (or ) Tj ET Q q 0 0 0 rg BT 409.10 658.10 Td (not ) Tj ET Q q 0 0 0 rg BT 424.27 658.10 Td (declared ) Tj ET Q q 0 0 0 rg BT 460.53 658.10 Td (by ) Tj ET Q q 0 0 0 rg BT 472.92 658.10 Td (our ) Tj ET Q q 0 0 0 rg BT 488.64 658.10 Td (board ) Tj ET Q q 0 0 0 rg BT 513.80 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 524.53 658.10 Td (directors, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (at ) Tj ET Q q 0 0 0 rg BT 59.61 646.10 Td (a ) Tj ET Q q 0 0 0 rg BT 66.44 646.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 83.82 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 94.55 646.10 Td ($0.045 ) Tj ET Q q 0 0 0 rg BT 124.44 646.10 Td (per ) Tj ET Q q 0 0 0 rg BT 139.60 646.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 178.63 646.10 Td (share ) Tj ET Q q 0 0 0 rg BT 202.13 646.10 Td (per ) Tj ET Q q 0 0 0 rg BT 217.29 646.10 Td (year) Tj ET Q q 0 0 0 rg BT 234.10 646.10 Td (, ) Tj ET Q q 0 0 0 rg BT 238.99 646.10 Td (which ) Tj ET Q q 0 0 0 rg BT 265.82 646.10 Td (must ) Tj ET Q q 0 0 0 rg BT 287.66 646.10 Td (be ) Tj ET Q q 0 0 0 rg BT 299.50 646.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 319.11 646.10 Td (or ) Tj ET Q q 0 0 0 rg BT 329.83 646.10 Td (declared ) Tj ET Q q 0 0 0 rg BT 366.09 646.10 Td (and ) Tj ET Q q 0 0 0 rg BT 382.92 646.10 Td (set ) Tj ET Q q 0 0 0 rg BT 396.42 646.10 Td (apart ) Tj ET Q q 0 0 0 rg BT 418.80 646.10 Td (before ) Tj ET Q q 0 0 0 rg BT 446.73 646.10 Td (any ) Tj ET Q q 0 0 0 rg BT 463.57 646.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 500.96 646.10 Td (may ) Tj ET Q q 0 0 0 rg BT 520.57 646.10 Td (be ) Tj ET Q q 0 0 0 rg BT 532.40 646.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 552.01 646.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.77 634.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 102.08 634.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 132.01 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 134.28 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 142.91 634.10 Td (e ) Tj ET Q q 0 0 0 rg BT 149.79 634.10 Td (declared ) Tj ET Q q 0 0 0 rg BT 186.09 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 202.97 634.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 222.63 634.10 Td ($2.1 ) Tj ET Q q 0 0 0 rg BT 242.57 634.10 Td (million ) Tj ET Q q 0 0 0 rg BT 273.90 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 284.67 634.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 323.74 634.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 365.07 634.10 Td (during ) Tj ET Q q 0 0 0 rg BT 393.61 634.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 416.05 634.10 Td (on ) Tj ET Q q 0 0 0 rg BT 428.49 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 443.15 634.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 482.22 634.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 509.65 634.10 Td (held ) Tj ET Q q 0 0 0 rg BT 529.31 634.10 Td (by ) Tj ET Q q 0 0 0 rg BT 541.75 634.10 Td (KAI. ) Tj ET Q q 0 0 0 rg BT 564.52 634.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (All ) Tj ET Q q 0 0 0 rg BT 65.40 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 76.36 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 91.20 622.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 130.46 622.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 158.07 622.10 Td (held ) Tj ET Q q 0 0 0 rg BT 177.91 622.10 Td (by ) Tj ET Q q 0 0 0 rg BT 190.53 622.10 Td (KAI ) Tj ET Q q 0 0 0 rg BT 210.93 622.10 Td (were ) Tj ET Q q 0 0 0 rg BT 232.98 622.10 Td (repurchased ) Tj ET Q q 0 0 0 rg BT 283.91 622.10 Td (on ) Tj ET Q q 0 0 0 rg BT 295.96 622.10 Td (August ) Tj ET Q q 0 0 0 rg BT 327.47 622.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 337.59 622.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 362.72 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 379.78 622.10 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 420.99 622.10 Td (no ) Tj ET Q q 0 0 0 rg BT 433.61 622.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 476.22 622.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 517.73 622.10 Td (will ) Tj ET Q q 0 0 0 rg BT 535.92 622.10 Td (accrue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.21 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 76.64 610.10 Td (KAI ) Tj ET Q q 0 0 0 rg BT 96.62 610.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 135.47 610.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 165.17 610.10 Td (however) Tj ET Q q 0 0 0 rg BT 199.20 610.10 Td (, ) Tj ET Q q 0 0 0 rg BT 203.91 610.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 245.01 610.10 Td (on ) Tj ET Q q 0 0 0 rg BT 257.22 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 271.65 610.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 314.40 610.10 Td (2,000,000 ) Tj ET Q q 0 0 0 rg BT 356.61 610.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 405.49 610.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 444.33 610.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 471.53 610.10 Td (will ) Tj ET Q q 0 0 0 rg BT 489.30 610.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 525.95 610.10 Td (to ) Tj ET Q q 0 0 0 rg BT 535.94 610.10 Td (accrue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 91.39 598.10 Td (at ) Tj ET Q q 0 0 0 rg BT 101.10 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.82 598.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 133.31 598.10 Td (indicated ) Tj ET Q q 0 0 0 rg BT 172.46 598.10 Td (above.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Risks ) Tj ET Q q 0 0 0 rg BT 75.84 574.10 Td (Related ) Tj ET Q q 0 0 0 rg BT 111.11 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 121.94 574.10 Td (Our) Tj ET Q q 0 0 0 rg BT 139.54 574.10 Td ( ) Tj ET Q q 0 0 0 rg BT 142.04 574.10 Td (Recent ) Tj ET Q q 0 0 0 rg BT 173.97 574.10 Td (Initial ) Tj ET Q q 0 0 0 rg BT 202.59 574.10 Td (Public ) Tj ET Q q 0 0 0 rg BT 232.31 574.10 Td (Offering ) Tj ET Q q 0 0 0 rg BT 271.47 574.10 Td (in ) Tj ET Q q 0 0 0 rg BT 282.31 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 298.14 574.10 Td (United ) Tj ET Q q 0 0 0 rg BT 329.53 574.10 Td (States) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 551.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.61 551.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 125.56 551.10 Td (of ) Tj ET Q q 0 0 0 rg BT 136.39 551.10 Td (being ) Tj ET Q q 0 0 0 rg BT 161.67 551.10 Td (a ) Tj ET Q q 0 0 0 rg BT 169.17 551.10 Td (United ) Tj ET Q q 0 0 0 rg BT 199.44 551.10 Td (States ) Tj ET Q q 0 0 0 rg BT 226.39 551.10 Td (public ) Tj ET Q q 0 0 0 rg BT 254.45 551.10 Td (company ) Tj ET Q q 0 0 0 rg BT 294.17 551.10 Td (may ) Tj ET Q q 0 0 0 rg BT 313.88 551.10 Td (strain ) Tj ET Q q 0 0 0 rg BT 340.28 551.10 Td (our ) Tj ET Q q 0 0 0 rg BT 357.24 551.10 Td (resources ) Tj ET Q q 0 0 0 rg BT 399.18 551.10 Td (and ) Tj ET Q q 0 0 0 rg BT 417.24 551.10 Td (divert ) Tj ET Q q 0 0 0 rg BT 443.07 551.10 Td (management) Tj ET Q q 0 0 0 rg BT 498.99 551.10 Td (s ) Tj ET Q q 0 0 0 rg BT 505.38 551.10 Td (attention.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 528.10 Td (As ) Tj ET Q q 0 0 0 rg BT 64.54 528.10 Td (a ) Tj ET Q q 0 0 0 rg BT 72.41 528.10 Td (United ) Tj ET Q q 0 0 0 rg BT 103.05 528.10 Td (States ) Tj ET Q q 0 0 0 rg BT 130.37 528.10 Td (public ) Tj ET Q q 0 0 0 rg BT 158.79 528.10 Td (company) Tj ET Q q 0 0 0 rg BT 194.79 528.10 Td (, ) Tj ET Q q 0 0 0 rg BT 200.72 528.10 Td (we ) Tj ET Q q 0 0 0 rg BT 215.81 528.10 Td (are ) Tj ET Q q 0 0 0 rg BT 231.45 528.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 263.20 528.10 Td (to ) Tj ET Q q 0 0 0 rg BT 274.40 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 290.05 528.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 330.13 528.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 385.76 528.10 Td (of ) Tj ET Q q 0 0 0 rg BT 397.52 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 413.16 528.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 456.03 528.10 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 498.12 528.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 515.99 528.10 Td (of ) Tj ET Q q 0 0 0 rg BT 527.74 528.10 Td (1934, ) Tj ET Q q 0 0 0 rg BT 553.67 528.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 516.10 Td (amended ) Tj ET Q q 0 0 0 rg BT 88.64 516.10 Td (\(which ) Tj ET Q q 0 0 0 rg BT 118.95 516.10 Td (we ) Tj ET Q q 0 0 0 rg BT 133.16 516.10 Td (refer ) Tj ET Q q 0 0 0 rg BT 154.57 516.10 Td (to ) Tj ET Q q 0 0 0 rg BT 164.90 516.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 192.43 516.10 Td (as ) Tj ET Q q 0 0 0 rg BT 203.30 516.10 Td (the ) Tj ET Q q 0 0 0 rg BT 218.06 516.10 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 259.47 516.10 Td (Act\), ) Tj ET Q q 0 0 0 rg BT 282.28 516.10 Td (the ) Tj ET Q q 0 0 0 rg BT 297.05 516.10 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 362.90 516.10 Td (Act, ) Tj ET Q q 0 0 0 rg BT 382.38 516.10 Td (the ) Tj ET Q q 0 0 0 rg BT 397.14 516.10 Td (Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 448.01 516.10 Td (Act, ) Tj ET Q q 0 0 0 rg BT 467.49 516.10 Td (the ) Tj ET Q q 0 0 0 rg BT 482.25 516.10 Td (listing ) Tj ET Q q 0 0 0 rg BT 509.81 516.10 Td (requirements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 504.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.60 504.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.08 504.10 Td (NASDAQ ) Tj ET Q q 0 0 0 rg BT 119.02 504.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 144.06 504.10 Td (Market ) Tj ET Q q 0 0 0 rg BT 175.21 504.10 Td (and ) Tj ET Q q 0 0 0 rg BT 191.91 504.10 Td (other ) Tj ET Q q 0 0 0 rg BT 214.73 504.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 258.08 504.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 298.11 504.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 319.82 504.10 Td (and ) Tj ET Q q 0 0 0 rg BT 336.52 504.10 Td (regulations. ) Tj ET Q q 0 0 0 rg BT 385.73 504.10 Td (Compliance ) Tj ET Q q 0 0 0 rg BT 436.31 504.10 Td (with ) Tj ET Q q 0 0 0 rg BT 456.36 504.10 Td (these ) Tj ET Q q 0 0 0 rg BT 479.17 504.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 500.88 504.10 Td (and ) Tj ET Q q 0 0 0 rg BT 517.58 504.10 Td (regulations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 492.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 85.89 492.10 Td (our ) Tj ET Q q 0 0 0 rg BT 102.35 492.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 124.92 492.10 Td (and ) Tj ET Q q 0 0 0 rg BT 142.49 492.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 180.61 492.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 229.83 492.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 255.46 492.10 Td (make ) Tj ET Q q 0 0 0 rg BT 280.25 492.10 Td (some ) Tj ET Q q 0 0 0 rg BT 304.49 492.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 343.73 492.10 Td (more ) Tj ET Q q 0 0 0 rg BT 367.41 492.10 Td (dif) Tj ET Q q 0 0 0 rg BT 378.33 492.10 Td (ficult, ) Tj ET Q q 0 0 0 rg BT 405.07 492.10 Td (time-consuming ) Tj ET Q q 0 0 0 rg BT 473.20 492.10 Td (or ) Tj ET Q q 0 0 0 rg BT 484.66 492.10 Td (costly ) Tj ET Q q 0 0 0 rg BT 511.68 492.10 Td (and ) Tj ET Q q 0 0 0 rg BT 529.25 492.10 Td (increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 480.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 83.81 480.10 Td (on ) Tj ET Q q 0 0 0 rg BT 95.97 480.10 Td (our ) Tj ET Q q 0 0 0 rg BT 111.45 480.10 Td (systems ) Tj ET Q q 0 0 0 rg BT 145.28 480.10 Td (and ) Tj ET Q q 0 0 0 rg BT 161.87 480.10 Td (resources, ) Tj ET Q q 0 0 0 rg BT 204.29 480.10 Td (which ) Tj ET Q q 0 0 0 rg BT 230.88 480.10 Td (may ) Tj ET Q q 0 0 0 rg BT 250.25 480.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 285.16 480.10 Td (after ) Tj ET Q q 0 0 0 rg BT 305.63 480.10 Td (we ) Tj ET Q q 0 0 0 rg BT 319.45 480.10 Td (are ) Tj ET Q q 0 0 0 rg BT 333.81 480.10 Td (no ) Tj ET Q q 0 0 0 rg BT 345.97 480.10 Td (longer ) Tj ET Q q 0 0 0 rg BT 373.67 480.10 Td (an ) Tj ET Q q 0 0 0 rg BT 385.27 480.10 Td (emer) Tj ET Q q 0 0 0 rg BT 409.51 480.10 Td (ging ) Tj ET Q q 0 0 0 rg BT 429.44 480.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 459.93 480.10 Td (company) Tj ET Q q 0 0 0 rg BT 495.94 480.10 Td (. ) Tj ET Q q 0 0 0 rg BT 504.87 480.10 Td (The ) Tj ET Q q 0 0 0 rg BT 522.58 480.10 Td (Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 468.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 67.55 468.10 Td (requires, ) Tj ET Q q 0 0 0 rg BT 105.37 468.10 Td (among ) Tj ET Q q 0 0 0 rg BT 135.69 468.10 Td (other ) Tj ET Q q 0 0 0 rg BT 159.35 468.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 189.41 468.10 Td (that ) Tj ET Q q 0 0 0 rg BT 207.51 468.10 Td (we ) Tj ET Q q 0 0 0 rg BT 222.29 468.10 Td (file ) Tj ET Q q 0 0 0 rg BT 238.72 468.10 Td (annual, ) Tj ET Q q 0 0 0 rg BT 270.99 468.10 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 310.19 468.10 Td (and ) Tj ET Q q 0 0 0 rg BT 327.74 468.10 Td (current ) Tj ET Q q 0 0 0 rg BT 359.17 468.10 Td (reports ) Tj ET Q q 0 0 0 rg BT 390.04 468.10 Td (with ) Tj ET Q q 0 0 0 rg BT 410.93 468.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 442.36 468.10 Td (to ) Tj ET Q q 0 0 0 rg BT 453.25 468.10 Td (our ) Tj ET Q q 0 0 0 rg BT 469.69 468.10 Td (business ) Tj ET Q q 0 0 0 rg BT 506.69 468.10 Td (and ) Tj ET Q q 0 0 0 rg BT 524.24 468.10 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 456.10 Td (results. ) Tj ET Q q 0 0 0 rg BT 80.86 456.10 Td (The ) Tj ET Q q 0 0 0 rg BT 98.84 456.10 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 164.60 456.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 181.47 456.10 Td (requires, ) Tj ET Q q 0 0 0 rg BT 218.61 456.10 Td (among ) Tj ET Q q 0 0 0 rg BT 248.26 456.10 Td (other ) Tj ET Q q 0 0 0 rg BT 271.23 456.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 300.61 456.10 Td (that ) Tj ET Q q 0 0 0 rg BT 318.04 456.10 Td (we ) Tj ET Q q 0 0 0 rg BT 332.13 456.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 369.55 456.10 Td (ef) Tj ET Q q 0 0 0 rg BT 377.14 456.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 406.77 456.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 449.75 456.10 Td (controls ) Tj ET Q q 0 0 0 rg BT 484.40 456.10 Td (and ) Tj ET Q q 0 0 0 rg BT 501.27 456.10 Td (procedures ) Tj ET Q q 0 0 0 rg BT 547.56 456.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 444.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 82.65 444.10 Td (control ) Tj ET Q q 0 0 0 rg BT 113.09 444.10 Td (over ) Tj ET Q q 0 0 0 rg BT 132.97 444.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 170.06 444.10 Td (reporting. ) Tj ET Q q 0 0 0 rg BT 211.33 444.10 Td (In ) Tj ET Q q 0 0 0 rg BT 221.77 444.10 Td (order ) Tj ET Q q 0 0 0 rg BT 244.98 444.10 Td (to ) Tj ET Q q 0 0 0 rg BT 254.87 444.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 291.98 444.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 311.03 444.10 Td (if ) Tj ET Q q 0 0 0 rg BT 319.25 444.10 Td (required, ) Tj ET Q q 0 0 0 rg BT 357.17 444.10 Td (improve ) Tj ET Q q 0 0 0 rg BT 392.61 444.10 Td (our ) Tj ET Q q 0 0 0 rg BT 408.05 444.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 450.71 444.10 Td (controls ) Tj ET Q q 0 0 0 rg BT 485.04 444.10 Td (and ) Tj ET Q q 0 0 0 rg BT 501.59 444.10 Td (procedures ) Tj ET Q q 0 0 0 rg BT 547.57 444.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 83.07 432.10 Td (control ) Tj ET Q q 0 0 0 rg BT 113.93 432.10 Td (over ) Tj ET Q q 0 0 0 rg BT 134.23 432.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 171.74 432.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 210.93 432.10 Td (to ) Tj ET Q q 0 0 0 rg BT 221.24 432.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 243.21 432.10 Td (this ) Tj ET Q q 0 0 0 rg BT 260.19 432.10 Td (standard, ) Tj ET Q q 0 0 0 rg BT 299.09 432.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 343.84 432.10 Td (resources ) Tj ET Q q 0 0 0 rg BT 384.13 432.10 Td (and ) Tj ET Q q 0 0 0 rg BT 401.10 432.10 Td (management ) Tj ET Q q 0 0 0 rg BT 454.72 432.10 Td (oversight ) Tj ET Q q 0 0 0 rg BT 494.47 432.10 Td (may ) Tj ET Q q 0 0 0 rg BT 514.22 432.10 Td (be ) Tj ET Q q 0 0 0 rg BT 526.19 432.10 Td (required. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.25 420.10 Td (a ) Tj ET Q q 0 0 0 rg BT 69.82 420.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 96.68 420.10 Td (management) Tj ET Q q 0 0 0 rg BT 150.54 420.10 Td (s ) Tj ET Q q 0 0 0 rg BT 156.57 420.10 Td (attention ) Tj ET Q q 0 0 0 rg BT 193.70 420.10 Td (may ) Tj ET Q q 0 0 0 rg BT 213.05 420.10 Td (be ) Tj ET Q q 0 0 0 rg BT 224.63 420.10 Td (diverted ) Tj ET Q q 0 0 0 rg BT 259.53 420.10 Td (from ) Tj ET Q q 0 0 0 rg BT 281.10 420.10 Td (other ) Tj ET Q q 0 0 0 rg BT 303.78 420.10 Td (business ) Tj ET Q q 0 0 0 rg BT 339.81 420.10 Td (concerns, ) Tj ET Q q 0 0 0 rg BT 379.99 420.10 Td (which ) Tj ET Q q 0 0 0 rg BT 406.56 420.10 Td (could ) Tj ET Q q 0 0 0 rg BT 430.91 420.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 471.36 420.10 Td (af) Tj ET Q q 0 0 0 rg BT 478.95 420.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 496.07 420.10 Td (our ) Tj ET Q q 0 0 0 rg BT 511.54 420.10 Td (business ) Tj ET Q q 0 0 0 rg BT 547.57 420.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 91.95 408.10 Td (results. ) Tj ET Q q 0 0 0 rg BT 124.45 408.10 Td (W) Tj ET Q q 0 0 0 rg BT 133.09 408.10 Td (e ) Tj ET Q q 0 0 0 rg BT 141.72 408.10 Td (may ) Tj ET Q q 0 0 0 rg BT 163.13 408.10 Td (need ) Tj ET Q q 0 0 0 rg BT 186.19 408.10 Td (to ) Tj ET Q q 0 0 0 rg BT 198.16 408.10 Td (hire ) Tj ET Q q 0 0 0 rg BT 217.90 408.10 Td (more ) Tj ET Q q 0 0 0 rg BT 242.64 408.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 289.59 408.10 Td (in ) Tj ET Q q 0 0 0 rg BT 301.56 408.10 Td (the ) Tj ET Q q 0 0 0 rg BT 317.97 408.10 Td (future ) Tj ET Q q 0 0 0 rg BT 346.04 408.10 Td (or ) Tj ET Q q 0 0 0 rg BT 358.56 408.10 Td (engage ) Tj ET Q q 0 0 0 rg BT 391.07 408.10 Td (outside ) Tj ET Q q 0 0 0 rg BT 424.14 408.10 Td (consultants ) Tj ET Q q 0 0 0 rg BT 473.33 408.10 Td (to ) Tj ET Q q 0 0 0 rg BT 485.30 408.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 519.48 408.10 Td (with ) Tj ET Q q 0 0 0 rg BT 541.45 408.10 Td (these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (requirements, ) Tj ET Q q 0 0 0 rg BT 107.20 396.10 Td (which ) Tj ET Q q 0 0 0 rg BT 134.14 396.10 Td (will ) Tj ET Q q 0 0 0 rg BT 152.20 396.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 187.45 396.10 Td (our ) Tj ET Q q 0 0 0 rg BT 203.28 396.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 225.78 396.10 Td (and ) Tj ET Q q 0 0 0 rg BT 242.72 396.10 Td (expenses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 373.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.74 373.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 98.43 373.10 Td (changing ) Tj ET Q q 0 0 0 rg BT 137.50 373.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 160.75 373.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 207.60 373.10 Td (and ) Tj ET Q q 0 0 0 rg BT 224.45 373.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 264.63 373.10 Td (in ) Tj ET Q q 0 0 0 rg BT 274.82 373.10 Td (the ) Tj ET Q q 0 0 0 rg BT 289.46 373.10 Td (United ) Tj ET Q q 0 0 0 rg BT 319.09 373.10 Td (States ) Tj ET Q q 0 0 0 rg BT 345.39 373.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 378.34 373.10 Td (to ) Tj ET Q q 0 0 0 rg BT 388.54 373.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 428.71 373.10 Td (governance ) Tj ET Q q 0 0 0 rg BT 477.20 373.10 Td (and ) Tj ET Q q 0 0 0 rg BT 494.06 373.10 Td (public ) Tj ET Q q 0 0 0 rg BT 521.47 373.10 Td (disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.86 361.10 Td (creating ) Tj ET Q q 0 0 0 rg BT 99.72 361.10 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 147.36 361.10 Td (for ) Tj ET Q q 0 0 0 rg BT 161.67 361.10 Td (public ) Tj ET Q q 0 0 0 rg BT 189.32 361.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 237.24 361.10 Td (increasing ) Tj ET Q q 0 0 0 rg BT 280.99 361.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 303.08 361.10 Td (and ) Tj ET Q q 0 0 0 rg BT 320.17 361.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 357.81 361.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 406.55 361.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 429.21 361.10 Td (and ) Tj ET Q q 0 0 0 rg BT 446.30 361.10 Td (making ) Tj ET Q q 0 0 0 rg BT 478.95 361.10 Td (some ) Tj ET Q q 0 0 0 rg BT 502.71 361.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 541.47 361.10 Td (more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.10 Td (time ) Tj ET Q q 0 0 0 rg BT 70.46 349.10 Td (consuming. ) Tj ET Q q 0 0 0 rg BT 119.33 349.10 Td (These ) Tj ET Q q 0 0 0 rg BT 145.89 349.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 169.40 349.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 216.52 349.10 Td (and ) Tj ET Q q 0 0 0 rg BT 233.64 349.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 274.09 349.10 Td (are ) Tj ET Q q 0 0 0 rg BT 288.98 349.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 319.99 349.10 Td (to ) Tj ET Q q 0 0 0 rg BT 330.45 349.10 Td (varying ) Tj ET Q q 0 0 0 rg BT 363.67 349.10 Td (interpretations, ) Tj ET Q q 0 0 0 rg BT 426.62 349.10 Td (in ) Tj ET Q q 0 0 0 rg BT 437.08 349.10 Td (many ) Tj ET Q q 0 0 0 rg BT 461.98 349.10 Td (cases ) Tj ET Q q 0 0 0 rg BT 485.76 349.10 Td (due ) Tj ET Q q 0 0 0 rg BT 502.88 349.10 Td (to ) Tj ET Q q 0 0 0 rg BT 513.34 349.10 Td (their ) Tj ET Q q 0 0 0 rg BT 534.34 349.10 Td (lack ) Tj ET Q q 0 0 0 rg BT 553.68 349.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (specificity) Tj ET Q q 0 0 0 rg BT 91.00 337.10 Td (, ) Tj ET Q q 0 0 0 rg BT 96.68 337.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 116.81 337.10 Td (as ) Tj ET Q q 0 0 0 rg BT 128.32 337.10 Td (a ) Tj ET Q q 0 0 0 rg BT 135.94 337.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 163.84 337.10 Td (their ) Tj ET Q q 0 0 0 rg BT 185.35 337.10 Td (application ) Tj ET Q q 0 0 0 rg BT 232.96 337.10 Td (in ) Tj ET Q q 0 0 0 rg BT 243.93 337.10 Td (practice ) Tj ET Q q 0 0 0 rg BT 278.75 337.10 Td (may ) Tj ET Q q 0 0 0 rg BT 299.15 337.10 Td (evolve ) Tj ET Q q 0 0 0 rg BT 328.99 337.10 Td (over ) Tj ET Q q 0 0 0 rg BT 349.94 337.10 Td (time ) Tj ET Q q 0 0 0 rg BT 370.90 337.10 Td (as ) Tj ET Q q 0 0 0 rg BT 382.41 337.10 Td (new ) Tj ET Q q 0 0 0 rg BT 402.26 337.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 441.53 337.10 Td (is ) Tj ET Q q 0 0 0 rg BT 451.39 337.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 490.12 337.10 Td (by ) Tj ET Q q 0 0 0 rg BT 503.30 337.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 547.58 337.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 94.10 325.10 Td (bodies. ) Tj ET Q q 0 0 0 rg BT 126.00 325.10 Td (This ) Tj ET Q q 0 0 0 rg BT 147.32 325.10 Td (could ) Tj ET Q q 0 0 0 rg BT 173.09 325.10 Td (result ) Tj ET Q q 0 0 0 rg BT 198.85 325.10 Td (in ) Tj ET Q q 0 0 0 rg BT 210.18 325.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 256.50 325.10 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 305.03 325.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 346.90 325.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 396.54 325.10 Td (matters ) Tj ET Q q 0 0 0 rg BT 429.52 325.10 Td (and ) Tj ET Q q 0 0 0 rg BT 447.50 325.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 476.60 325.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 500.15 325.10 Td (necessitated ) Tj ET Q q 0 0 0 rg BT 552.01 325.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 84.72 313.10 Td (revisions ) Tj ET Q q 0 0 0 rg BT 122.78 313.10 Td (to ) Tj ET Q q 0 0 0 rg BT 132.50 313.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 175.00 313.10 Td (and ) Tj ET Q q 0 0 0 rg BT 191.38 313.10 Td (governance ) Tj ET Q q 0 0 0 rg BT 239.41 313.10 Td (practices. ) Tj ET Q q 0 0 0 rg BT 279.25 313.10 Td (W) Tj ET Q q 0 0 0 rg BT 287.88 313.10 Td (e ) Tj ET Q q 0 0 0 rg BT 294.27 313.10 Td (intend ) Tj ET Q q 0 0 0 rg BT 321.21 313.10 Td (to ) Tj ET Q q 0 0 0 rg BT 330.93 313.10 Td (invest ) Tj ET Q q 0 0 0 rg BT 356.77 313.10 Td (resources ) Tj ET Q q 0 0 0 rg BT 396.47 313.10 Td (to ) Tj ET Q q 0 0 0 rg BT 406.19 313.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 438.14 313.10 Td (with ) Tj ET Q q 0 0 0 rg BT 457.86 313.10 Td (evolving ) Tj ET Q q 0 0 0 rg BT 494.80 313.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 517.58 313.10 Td (regulations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.80 301.10 Td (standards, ) Tj ET Q q 0 0 0 rg BT 109.44 301.10 Td (and ) Tj ET Q q 0 0 0 rg BT 126.24 301.10 Td (this ) Tj ET Q q 0 0 0 rg BT 143.06 301.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 189.30 301.10 Td (may ) Tj ET Q q 0 0 0 rg BT 208.89 301.10 Td (result ) Tj ET Q q 0 0 0 rg BT 233.47 301.10 Td (in ) Tj ET Q q 0 0 0 rg BT 243.61 301.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 283.73 301.10 Td (general ) Tj ET Q q 0 0 0 rg BT 315.52 301.10 Td (and ) Tj ET Q q 0 0 0 rg BT 332.33 301.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 391.90 301.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 430.36 301.10 Td (and ) Tj ET Q q 0 0 0 rg BT 447.17 301.10 Td (a ) Tj ET Q q 0 0 0 rg BT 453.97 301.10 Td (diversion ) Tj ET Q q 0 0 0 rg BT 493.55 301.10 Td (of ) Tj ET Q q 0 0 0 rg BT 504.25 301.10 Td (management) Tj ET Q q 0 0 0 rg BT 558.12 301.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.10 Td (time ) Tj ET Q q 0 0 0 rg BT 69.90 289.10 Td (and ) Tj ET Q q 0 0 0 rg BT 86.47 289.10 Td (attention ) Tj ET Q q 0 0 0 rg BT 123.60 289.10 Td (from ) Tj ET Q q 0 0 0 rg BT 145.17 289.10 Td (revenue-generating ) Tj ET Q q 0 0 0 rg BT 224.48 289.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 262.71 289.10 Td (to ) Tj ET Q q 0 0 0 rg BT 272.61 289.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 320.83 289.10 Td (activities. ) Tj ET Q q 0 0 0 rg BT 361.56 289.10 Td (If ) Tj ET Q q 0 0 0 rg BT 370.36 289.10 Td (our ) Tj ET Q q 0 0 0 rg BT 385.82 289.10 Td (ef) Tj ET Q q 0 0 0 rg BT 393.41 289.10 Td (forts ) Tj ET Q q 0 0 0 rg BT 413.87 289.10 Td (to ) Tj ET Q q 0 0 0 rg BT 423.78 289.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 455.90 289.10 Td (with ) Tj ET Q q 0 0 0 rg BT 475.81 289.10 Td (new ) Tj ET Q q 0 0 0 rg BT 494.60 289.10 Td (laws, ) Tj ET Q q 0 0 0 rg BT 517.57 289.10 Td (regulations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.82 277.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 106.97 277.10 Td (dif) Tj ET Q q 0 0 0 rg BT 117.90 277.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 131.38 277.10 Td (from ) Tj ET Q q 0 0 0 rg BT 153.20 277.10 Td (the ) Tj ET Q q 0 0 0 rg BT 167.80 277.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 206.28 277.10 Td (intended ) Tj ET Q q 0 0 0 rg BT 243.10 277.10 Td (by ) Tj ET Q q 0 0 0 rg BT 255.48 277.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 298.96 277.10 Td (or ) Tj ET Q q 0 0 0 rg BT 309.67 277.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 352.60 277.10 Td (bodies ) Tj ET Q q 0 0 0 rg BT 381.09 277.10 Td (due ) Tj ET Q q 0 0 0 rg BT 397.92 277.10 Td (to ) Tj ET Q q 0 0 0 rg BT 408.08 277.10 Td (ambiguities ) Tj ET Q q 0 0 0 rg BT 457.12 277.10 Td (related ) Tj ET Q q 0 0 0 rg BT 486.70 277.10 Td (to ) Tj ET Q q 0 0 0 rg BT 496.87 277.10 Td (their ) Tj ET Q q 0 0 0 rg BT 517.57 277.10 Td (application ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 265.10 Td (and ) Tj ET Q q 0 0 0 rg BT 65.84 265.10 Td (practice, ) Tj ET Q q 0 0 0 rg BT 101.38 265.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 143.88 265.10 Td (authorities ) Tj ET Q q 0 0 0 rg BT 187.49 265.10 Td (may ) Tj ET Q q 0 0 0 rg BT 206.11 265.10 Td (initiate ) Tj ET Q q 0 0 0 rg BT 235.28 265.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 256.11 265.10 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 305.83 265.10 Td (against ) Tj ET Q q 0 0 0 rg BT 335.56 265.10 Td (us ) Tj ET Q q 0 0 0 rg BT 345.85 265.10 Td (and ) Tj ET Q q 0 0 0 rg BT 361.69 265.10 Td (our ) Tj ET Q q 0 0 0 rg BT 376.42 265.10 Td (business ) Tj ET Q q 0 0 0 rg BT 411.71 265.10 Td (and ) Tj ET Q q 0 0 0 rg BT 427.55 265.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 466.72 265.10 Td (results ) Tj ET Q q 0 0 0 rg BT 494.23 265.10 Td (may ) Tj ET Q q 0 0 0 rg BT 512.85 265.10 Td (be ) Tj ET Q q 0 0 0 rg BT 523.69 265.10 Td (adversely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 253.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 253.10 Td (fected.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 230.10 Td (For ) Tj ET Q q 0 0 0 rg BT 66.38 230.10 Td (as ) Tj ET Q q 0 0 0 rg BT 77.20 230.10 Td (long ) Tj ET Q q 0 0 0 rg BT 97.47 230.10 Td (as ) Tj ET Q q 0 0 0 rg BT 108.29 230.10 Td (we ) Tj ET Q q 0 0 0 rg BT 122.44 230.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 152.70 230.10 Td (an ) Tj ET Q q 0 0 0 rg BT 164.62 230.10 Td (emer) Tj ET Q q 0 0 0 rg BT 188.87 230.10 Td (ging ) Tj ET Q q 0 0 0 rg BT 209.14 230.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 239.96 230.10 Td (company ) Tj ET Q q 0 0 0 rg BT 283.54 230.10 Td (as ) Tj ET Q q 0 0 0 rg BT 294.36 230.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 326.84 230.10 Td (in ) Tj ET Q q 0 0 0 rg BT 337.10 230.10 Td (the ) Tj ET Q q 0 0 0 rg BT 351.81 230.10 Td (Jumpstart ) Tj ET Q q 0 0 0 rg BT 393.19 230.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 411.23 230.10 Td (Business ) Tj ET Q q 0 0 0 rg BT 449.28 230.10 Td (Startups ) Tj ET Q q 0 0 0 rg BT 484.00 230.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 500.93 230.10 Td (of ) Tj ET Q q 0 0 0 rg BT 511.75 230.10 Td (2012 ) Tj ET Q q 0 0 0 rg BT 534.24 230.10 Td (\(which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.10 Td (we ) Tj ET Q q 0 0 0 rg BT 64.28 218.10 Td (refer ) Tj ET Q q 0 0 0 rg BT 85.78 218.10 Td (to ) Tj ET Q q 0 0 0 rg BT 96.18 218.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 123.79 218.10 Td (as ) Tj ET Q q 0 0 0 rg BT 134.74 218.10 Td (the ) Tj ET Q q 0 0 0 rg BT 149.58 218.10 Td (JOBS ) Tj ET Q q 0 0 0 rg BT 174.98 218.10 Td (Act\), ) Tj ET Q q 0 0 0 rg BT 197.87 218.10 Td (we ) Tj ET Q q 0 0 0 rg BT 212.15 218.10 Td (may ) Tj ET Q q 0 0 0 rg BT 231.99 218.10 Td (take ) Tj ET Q q 0 0 0 rg BT 251.27 218.10 Td (advantage ) Tj ET Q q 0 0 0 rg BT 294.43 218.10 Td (of ) Tj ET Q q 0 0 0 rg BT 305.39 218.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 335.21 218.10 Td (exemptions ) Tj ET Q q 0 0 0 rg BT 383.94 218.10 Td (from ) Tj ET Q q 0 0 0 rg BT 406.00 218.10 Td (various ) Tj ET Q q 0 0 0 rg BT 438.07 218.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 477.35 218.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 532.17 218.10 Td (that ) Tj ET Q q 0 0 0 rg BT 549.79 218.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 206.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 93.43 206.10 Td (to ) Tj ET Q q 0 0 0 rg BT 103.54 206.10 Td (other ) Tj ET Q q 0 0 0 rg BT 126.42 206.10 Td (public ) Tj ET Q q 0 0 0 rg BT 153.75 206.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 198.85 206.10 Td (that ) Tj ET Q q 0 0 0 rg BT 216.19 206.10 Td (are ) Tj ET Q q 0 0 0 rg BT 230.73 206.10 Td (not ) Tj ET Q q 0 0 0 rg BT 245.84 206.10 Td (emer) Tj ET Q q 0 0 0 rg BT 270.09 206.10 Td (ging ) Tj ET Q q 0 0 0 rg BT 290.20 206.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 320.87 206.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 372.91 206.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 415.52 206.10 Td (but ) Tj ET Q q 0 0 0 rg BT 430.63 206.10 Td (not ) Tj ET Q q 0 0 0 rg BT 445.75 206.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 476.41 206.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 489.03 206.10 Td (not ) Tj ET Q q 0 0 0 rg BT 504.14 206.10 Td (being ) Tj ET Q q 0 0 0 rg BT 528.70 206.10 Td (required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 194.10 Td (to ) Tj ET Q q 0 0 0 rg BT 61.03 194.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 94.28 194.10 Td (with ) Tj ET Q q 0 0 0 rg BT 115.30 194.10 Td (the ) Tj ET Q q 0 0 0 rg BT 130.77 194.10 Td (auditor ) Tj ET Q q 0 0 0 rg BT 162.35 194.10 Td (attestation ) Tj ET Q q 0 0 0 rg BT 206.70 194.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 262.15 194.10 Td (of ) Tj ET Q q 0 0 0 rg BT 273.73 194.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 306.98 194.10 Td (404 ) Tj ET Q q 0 0 0 rg BT 325.23 194.10 Td (of ) Tj ET Q q 0 0 0 rg BT 336.81 194.10 Td (the ) Tj ET Q q 0 0 0 rg BT 352.28 194.10 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 418.68 194.10 Td (Act, ) Tj ET Q q 0 0 0 rg BT 438.87 194.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 473.76 194.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 517.56 194.10 Td (obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 90.34 182.10 Td (executive ) Tj ET Q q 0 0 0 rg BT 130.68 182.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 188.25 182.10 Td (in ) Tj ET Q q 0 0 0 rg BT 198.05 182.10 Td (our ) Tj ET Q q 0 0 0 rg BT 213.41 182.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 248.20 182.10 Td (reports ) Tj ET Q q 0 0 0 rg BT 277.99 182.10 Td (and ) Tj ET Q q 0 0 0 rg BT 294.46 182.10 Td (proxy ) Tj ET Q q 0 0 0 rg BT 319.81 182.10 Td (statements, ) Tj ET Q q 0 0 0 rg BT 366.55 182.10 Td (and ) Tj ET Q q 0 0 0 rg BT 383.02 182.10 Td (exemptions ) Tj ET Q q 0 0 0 rg BT 431.15 182.10 Td (from ) Tj ET Q q 0 0 0 rg BT 452.61 182.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.86 182.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 521.08 182.10 Td (of ) Tj ET Q q 0 0 0 rg BT 531.44 182.10 Td (holding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 170.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.00 170.10 Td (non-binding ) Tj ET Q q 0 0 0 rg BT 106.44 170.10 Td (advisory ) Tj ET Q q 0 0 0 rg BT 142.44 170.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 161.22 170.10 Td (on ) Tj ET Q q 0 0 0 rg BT 172.78 170.10 Td (executive ) Tj ET Q q 0 0 0 rg BT 212.65 170.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 269.75 170.10 Td (and ) Tj ET Q q 0 0 0 rg BT 285.74 170.10 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 333.95 170.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 370.49 170.10 Td (of ) Tj ET Q q 0 0 0 rg BT 380.38 170.10 Td (any ) Tj ET Q q 0 0 0 rg BT 396.38 170.10 Td (golden ) Tj ET Q q 0 0 0 rg BT 425.16 170.10 Td (parachute ) Tj ET Q q 0 0 0 rg BT 465.58 170.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 505.46 170.10 Td (not ) Tj ET Q q 0 0 0 rg BT 519.80 170.10 Td (previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.10 Td (approved. ) Tj ET Q q 0 0 0 rg BT 92.03 158.10 Td (W) Tj ET Q q 0 0 0 rg BT 100.66 158.10 Td (e ) Tj ET Q q 0 0 0 rg BT 107.60 158.10 Td (may ) Tj ET Q q 0 0 0 rg BT 127.32 158.10 Td (take ) Tj ET Q q 0 0 0 rg BT 146.47 158.10 Td (advantage ) Tj ET Q q 0 0 0 rg BT 189.51 158.10 Td (of ) Tj ET Q q 0 0 0 rg BT 200.34 158.10 Td (these ) Tj ET Q q 0 0 0 rg BT 223.38 158.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 262.54 158.10 Td (exemptions ) Tj ET Q q 0 0 0 rg BT 311.14 158.10 Td (until ) Tj ET Q q 0 0 0 rg BT 331.98 158.10 Td (we ) Tj ET Q q 0 0 0 rg BT 346.14 158.10 Td (are ) Tj ET Q q 0 0 0 rg BT 360.84 158.10 Td (no ) Tj ET Q q 0 0 0 rg BT 373.34 158.10 Td (longer ) Tj ET Q q 0 0 0 rg BT 401.39 158.10 Td (an ) Tj ET Q q 0 0 0 rg BT 413.33 158.10 Td (emer) Tj ET Q q 0 0 0 rg BT 437.57 158.10 Td (ging ) Tj ET Q q 0 0 0 rg BT 457.85 158.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 488.68 158.10 Td (company) Tj ET Q q 0 0 0 rg BT 524.69 158.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 135.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 135.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.52 135.10 Td (will ) Tj ET Q q 0 0 0 rg BT 83.53 135.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 113.74 135.10 Td (an ) Tj ET Q q 0 0 0 rg BT 125.62 135.10 Td (emer) Tj ET Q q 0 0 0 rg BT 149.86 135.10 Td (ging ) Tj ET Q q 0 0 0 rg BT 170.09 135.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 200.86 135.10 Td (company ) Tj ET Q q 0 0 0 rg BT 244.40 135.10 Td (for ) Tj ET Q q 0 0 0 rg BT 258.51 135.10 Td (up ) Tj ET Q q 0 0 0 rg BT 270.96 135.10 Td (to ) Tj ET Q q 0 0 0 rg BT 281.18 135.10 Td (five ) Tj ET Q q 0 0 0 rg BT 299.17 135.10 Td (years ) Tj ET Q q 0 0 0 rg BT 322.72 135.10 Td (from ) Tj ET Q q 0 0 0 rg BT 344.60 135.10 Td (our ) Tj ET Q q 0 0 0 rg BT 360.38 135.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 380.61 135.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 406.39 135.10 Td (public ) Tj ET Q q 0 0 0 rg BT 433.83 135.10 Td (of) Tj ET Q q 0 0 0 rg BT 441.98 135.10 Td (fering, ) Tj ET Q q 0 0 0 rg BT 470.80 135.10 Td (although ) Tj ET Q q 0 0 0 rg BT 508.24 135.10 Td (we ) Tj ET Q q 0 0 0 rg BT 522.35 135.10 Td (will ) Tj ET Q q 0 0 0 rg BT 540.35 135.10 Td (cease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 123.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 123.10 Td (be ) Tj ET Q q 0 0 0 rg BT 72.22 123.10 Td (an ) Tj ET Q q 0 0 0 rg BT 84.16 123.10 Td (emer) Tj ET Q q 0 0 0 rg BT 108.40 123.10 Td (ging ) Tj ET Q q 0 0 0 rg BT 128.68 123.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 159.51 123.10 Td (company ) Tj ET Q q 0 0 0 rg BT 203.10 123.10 Td (before ) Tj ET Q q 0 0 0 rg BT 231.14 123.10 Td (that ) Tj ET Q q 0 0 0 rg BT 248.63 123.10 Td (time ) Tj ET Q q 0 0 0 rg BT 268.91 123.10 Td (if ) Tj ET Q q 0 0 0 rg BT 277.51 123.10 Td (we ) Tj ET Q q 0 0 0 rg BT 291.67 123.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 313.61 123.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 343.31 123.10 Td (criteria.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.85 100.10 Td (a ) Tj ET Q q 0 0 0 rg BT 71.03 100.10 Td (result ) Tj ET Q q 0 0 0 rg BT 95.98 100.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.05 100.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 150.33 100.10 Td (of ) Tj ET Q q 0 0 0 rg BT 161.40 100.10 Td (information ) Tj ET Q q 0 0 0 rg BT 211.35 100.10 Td (in ) Tj ET Q q 0 0 0 rg BT 221.86 100.10 Td (this ) Tj ET Q q 0 0 0 rg BT 239.05 100.10 Td (Form ) Tj ET Q q 0 0 0 rg BT 263.45 100.10 Td (10-K ) Tj ET Q q 0 0 0 rg BT 286.74 100.10 Td (and ) Tj ET Q q 0 0 0 rg BT 303.92 100.10 Td (in ) Tj ET Q q 0 0 0 rg BT 314.43 100.10 Td (filings ) Tj ET Q q 0 0 0 rg BT 342.72 100.10 Td (required ) Tj ET Q q 0 0 0 rg BT 378.78 100.10 Td (of ) Tj ET Q q 0 0 0 rg BT 389.84 100.10 Td (a ) Tj ET Q q 0 0 0 rg BT 397.02 100.10 Td (public ) Tj ET Q q 0 0 0 rg BT 424.75 100.10 Td (company ) Tj ET Q q 0 0 0 rg BT 464.14 100.10 Td (in ) Tj ET Q q 0 0 0 rg BT 474.66 100.10 Td (the ) Tj ET Q q 0 0 0 rg BT 489.61 100.10 Td (United ) Tj ET Q q 0 0 0 rg BT 519.57 100.10 Td (States, ) Tj ET Q q 0 0 0 rg BT 548.69 100.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 89.27 88.10 Td (results ) Tj ET Q q 0 0 0 rg BT 118.26 88.10 Td (of ) Tj ET Q q 0 0 0 rg BT 129.47 88.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 176.51 88.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 197.16 88.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 222.26 88.10 Td (and ) Tj ET Q q 0 0 0 rg BT 239.58 88.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 277.44 88.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 318.10 88.10 Td (will ) Tj ET Q q 0 0 0 rg BT 336.53 88.10 Td (become ) Tj ET Q q 0 0 0 rg BT 370.51 88.10 Td (more ) Tj ET Q q 0 0 0 rg BT 393.94 88.10 Td (visible, ) Tj ET Q q 0 0 0 rg BT 425.98 88.10 Td (which ) Tj ET Q q 0 0 0 rg BT 453.30 88.10 Td (may ) Tj ET Q q 0 0 0 rg BT 473.40 88.10 Td (result ) Tj ET Q q 0 0 0 rg BT 498.50 88.10 Td (in ) Tj ET Q q 0 0 0 rg BT 509.16 88.10 Td (threatened ) Tj ET Q q 0 0 0 rg BT 553.68 88.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 76.04 76.10 Td (litigation, ) Tj ET Q q 0 0 0 rg BT 116.82 76.10 Td (including ) Tj ET Q q 0 0 0 rg BT 156.77 76.10 Td (by ) Tj ET Q q 0 0 0 rg BT 168.94 76.10 Td (competitors ) Tj ET Q q 0 0 0 rg BT 218.33 76.10 Td (and ) Tj ET Q q 0 0 0 rg BT 234.94 76.10 Td (other ) Tj ET Q q 0 0 0 rg BT 257.65 76.10 Td (third ) Tj ET Q q 0 0 0 rg BT 278.71 76.10 Td (parties. ) Tj ET Q q 0 0 0 rg BT 310.04 76.10 Td (If ) Tj ET Q q 0 0 0 rg BT 318.87 76.10 Td (such ) Tj ET Q q 0 0 0 rg BT 339.37 76.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 367.65 76.10 Td (are ) Tj ET Q q 0 0 0 rg BT 382.03 76.10 Td (successful, ) Tj ET Q q 0 0 0 rg BT 427.80 76.10 Td (our ) Tj ET Q q 0 0 0 rg BT 443.30 76.10 Td (business ) Tj ET Q q 0 0 0 rg BT 479.36 76.10 Td (and ) Tj ET Q q 0 0 0 rg BT 495.97 76.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 535.91 76.10 Td (results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (could ) Tj ET Q q 0 0 0 rg BT 75.10 64.10 Td (be ) Tj ET Q q 0 0 0 rg BT 87.43 64.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 128.63 64.10 Td (af) Tj ET Q q 0 0 0 rg BT 136.22 64.10 Td (fected, ) Tj ET Q q 0 0 0 rg BT 166.03 64.10 Td (and ) Tj ET Q q 0 0 0 rg BT 183.35 64.10 Td (even ) Tj ET Q q 0 0 0 rg BT 205.11 64.10 Td (if ) Tj ET Q q 0 0 0 rg BT 214.11 64.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.21 64.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 258.20 64.10 Td (do ) Tj ET Q q 0 0 0 rg BT 271.08 64.10 Td (not ) Tj ET Q q 0 0 0 rg BT 286.75 64.10 Td (result ) Tj ET Q q 0 0 0 rg BT 311.85 64.10 Td (in ) Tj ET Q q 0 0 0 rg BT 322.51 64.10 Td (litigation ) Tj ET Q q 0 0 0 rg BT 361.51 64.10 Td (or ) Tj ET Q q 0 0 0 rg BT 372.72 64.10 Td (are ) Tj ET Q q 0 0 0 rg BT 387.82 64.10 Td (resolved ) Tj ET Q q 0 0 0 rg BT 424.58 64.10 Td (in ) Tj ET Q q 0 0 0 rg BT 435.24 64.10 Td (our ) Tj ET Q q 0 0 0 rg BT 451.46 64.10 Td (favor) Tj ET Q q 0 0 0 rg BT 472.16 64.10 Td (, ) Tj ET Q q 0 0 0 rg BT 477.54 64.10 Td (these ) Tj ET Q q 0 0 0 rg BT 500.98 64.10 Td (claims, ) Tj ET Q q 0 0 0 rg BT 532.47 64.10 Td (and ) Tj ET Q q 0 0 0 rg BT 549.79 64.10 Td (the ) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (time ) Tj ET Q q 0 0 0 rg BT 70.73 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 88.12 742.10 Td (resources ) Tj ET Q q 0 0 0 rg BT 128.84 742.10 Td (necessary ) Tj ET Q q 0 0 0 rg BT 170.66 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 181.39 742.10 Td (resolve ) Tj ET Q q 0 0 0 rg BT 213.23 742.10 Td (them, ) Tj ET Q q 0 0 0 rg BT 238.68 742.10 Td (could ) Tj ET Q q 0 0 0 rg BT 263.85 742.10 Td (divert ) Tj ET Q q 0 0 0 rg BT 290.13 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 305.30 742.10 Td (resources ) Tj ET Q q 0 0 0 rg BT 346.02 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 357.30 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 373.59 742.10 Td (management ) Tj ET Q q 0 0 0 rg BT 427.63 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 445.03 742.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 486.30 742.10 Td (af) Tj ET Q q 0 0 0 rg BT 493.89 742.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 511.83 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 528.11 742.10 Td (business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 730.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 107.20 730.10 Td (results.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 707.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 707.10 Td (e ) Tj ET Q q 0 0 0 rg BT 64.28 707.10 Td (are ) Tj ET Q q 0 0 0 rg BT 79.31 707.10 Td (an ) Tj ET Q q 0 0 0 rg BT 91.57 707.10 Td (emerging ) Tj ET Q q 0 0 0 rg BT 137.15 707.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 167.75 707.10 Td (company ) Tj ET Q q 0 0 0 rg BT 211.67 707.10 Td (and ) Tj ET Q q 0 0 0 rg BT 228.92 707.10 Td (we ) Tj ET Q q 0 0 0 rg BT 241.73 707.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 271.77 707.10 Td (be ) Tj ET Q q 0 0 0 rg BT 282.90 707.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 313.48 707.10 Td (if ) Tj ET Q q 0 0 0 rg BT 321.29 707.10 Td (the ) Tj ET Q q 0 0 0 rg BT 335.76 707.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 370.23 707.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 413.60 707.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 469.74 707.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 513.65 707.10 Td (to ) Tj ET Q q 0 0 0 rg BT 523.13 707.10 Td (emerging ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 695.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 81.40 695.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 127.79 695.10 Td (will ) Tj ET Q q 0 0 0 rg BT 145.29 695.10 Td (make ) Tj ET Q q 0 0 0 rg BT 170.01 695.10 Td (our ) Tj ET Q q 0 0 0 rg BT 186.96 695.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 225.02 695.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 254.20 695.10 Td (less ) Tj ET Q q 0 0 0 rg BT 271.70 695.10 Td (attractive ) Tj ET Q q 0 0 0 rg BT 312.52 695.10 Td (to ) Tj ET Q q 0 0 0 rg BT 322.80 695.10 Td (investors. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 671.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 671.10 Td (e ) Tj ET Q q 0 0 0 rg BT 66.30 671.10 Td (are ) Tj ET Q q 0 0 0 rg BT 81.74 671.10 Td (an ) Tj ET Q q 0 0 0 rg BT 94.40 671.10 Td (emer) Tj ET Q q 0 0 0 rg BT 118.64 671.10 Td (ging ) Tj ET Q q 0 0 0 rg BT 139.65 671.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 171.21 671.10 Td (company) Tj ET Q q 0 0 0 rg BT 207.21 671.10 Td (, ) Tj ET Q q 0 0 0 rg BT 217.38 671.10 Td (as ) Tj ET Q q 0 0 0 rg BT 228.93 671.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 262.15 671.10 Td (in ) Tj ET Q q 0 0 0 rg BT 273.15 671.10 Td (the ) Tj ET Q q 0 0 0 rg BT 288.59 671.10 Td (JOBS ) Tj ET Q q 0 0 0 rg BT 314.45 671.10 Td (Act, ) Tj ET Q q 0 0 0 rg BT 334.62 671.10 Td (and ) Tj ET Q q 0 0 0 rg BT 352.28 671.10 Td (we ) Tj ET Q q 0 0 0 rg BT 367.17 671.10 Td (may ) Tj ET Q q 0 0 0 rg BT 387.61 671.10 Td (take ) Tj ET Q q 0 0 0 rg BT 407.49 671.10 Td (advantage ) Tj ET Q q 0 0 0 rg BT 451.25 671.10 Td (of ) Tj ET Q q 0 0 0 rg BT 462.81 671.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 493.24 671.10 Td (exemptions ) Tj ET Q q 0 0 0 rg BT 542.57 671.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 659.10 Td (various ) Tj ET Q q 0 0 0 rg BT 81.41 659.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 120.03 659.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 174.21 659.10 Td (that ) Tj ET Q q 0 0 0 rg BT 191.17 659.10 Td (are ) Tj ET Q q 0 0 0 rg BT 205.35 659.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 248.41 659.10 Td (to ) Tj ET Q q 0 0 0 rg BT 258.16 659.10 Td (other ) Tj ET Q q 0 0 0 rg BT 280.67 659.10 Td (public ) Tj ET Q q 0 0 0 rg BT 307.64 659.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 352.37 659.10 Td (that ) Tj ET Q q 0 0 0 rg BT 369.34 659.10 Td (are ) Tj ET Q q 0 0 0 rg BT 383.52 659.10 Td (not ) Tj ET Q q 0 0 0 rg BT 398.26 659.10 Td (emer) Tj ET Q q 0 0 0 rg BT 422.51 659.10 Td (ging ) Tj ET Q q 0 0 0 rg BT 442.26 659.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 472.56 659.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 521.73 659.10 Td (including, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (but ) Tj ET Q q 0 0 0 rg BT 65.32 647.10 Td (not ) Tj ET Q q 0 0 0 rg BT 80.63 647.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 111.50 647.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 124.32 647.10 Td (not ) Tj ET Q q 0 0 0 rg BT 139.64 647.10 Td (being ) Tj ET Q q 0 0 0 rg BT 164.39 647.10 Td (required ) Tj ET Q q 0 0 0 rg BT 200.25 647.10 Td (to ) Tj ET Q q 0 0 0 rg BT 210.57 647.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 243.10 647.10 Td (with ) Tj ET Q q 0 0 0 rg BT 263.42 647.10 Td (auditor ) Tj ET Q q 0 0 0 rg BT 294.28 647.10 Td (attestation ) Tj ET Q q 0 0 0 rg BT 337.92 647.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 392.66 647.10 Td (of ) Tj ET Q q 0 0 0 rg BT 403.53 647.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 436.06 647.10 Td (404 ) Tj ET Q q 0 0 0 rg BT 453.60 647.10 Td (of ) Tj ET Q q 0 0 0 rg BT 464.47 647.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.23 647.10 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 545.07 647.10 Td (Act, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 635.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 84.40 635.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 127.70 635.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 174.89 635.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 215.96 635.10 Td (executive ) Tj ET Q q 0 0 0 rg BT 257.03 635.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 315.32 635.10 Td (in ) Tj ET Q q 0 0 0 rg BT 325.85 635.10 Td (our ) Tj ET Q q 0 0 0 rg BT 341.94 635.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 377.45 635.10 Td (reports ) Tj ET Q q 0 0 0 rg BT 407.97 635.10 Td (and ) Tj ET Q q 0 0 0 rg BT 425.17 635.10 Td (proxy ) Tj ET Q q 0 0 0 rg BT 451.25 635.10 Td (statements, ) Tj ET Q q 0 0 0 rg BT 498.71 635.10 Td (and ) Tj ET Q q 0 0 0 rg BT 515.90 635.10 Td (exemptions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 623.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.46 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 85.70 623.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 139.92 623.10 Td (of ) Tj ET Q q 0 0 0 rg BT 150.27 623.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 182.85 623.10 Td (a ) Tj ET Q q 0 0 0 rg BT 189.31 623.10 Td (non-binding ) Tj ET Q q 0 0 0 rg BT 240.22 623.10 Td (advisory ) Tj ET Q q 0 0 0 rg BT 276.68 623.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 295.92 623.10 Td (on ) Tj ET Q q 0 0 0 rg BT 307.94 623.10 Td (executive ) Tj ET Q q 0 0 0 rg BT 348.27 623.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 405.83 623.10 Td (and ) Tj ET Q q 0 0 0 rg BT 422.29 623.10 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 470.96 623.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 507.97 623.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.32 623.10 Td (any ) Tj ET Q q 0 0 0 rg BT 534.78 623.10 Td (golden ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 611.10 Td (parachute ) Tj ET Q q 0 0 0 rg BT 91.38 611.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 132.23 611.10 Td (not ) Tj ET Q q 0 0 0 rg BT 147.53 611.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 192.27 611.10 Td (approved. ) Tj ET Q q 0 0 0 rg BT 234.32 611.10 Td (W) Tj ET Q q 0 0 0 rg BT 242.96 611.10 Td (e ) Tj ET Q q 0 0 0 rg BT 249.92 611.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 279.09 611.10 Td (predict ) Tj ET Q q 0 0 0 rg BT 309.38 611.10 Td (if ) Tj ET Q q 0 0 0 rg BT 318.01 611.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 356.64 611.10 Td (will ) Tj ET Q q 0 0 0 rg BT 374.72 611.10 Td (find ) Tj ET Q q 0 0 0 rg BT 393.35 611.10 Td (our ) Tj ET Q q 0 0 0 rg BT 409.20 611.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 445.60 611.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 473.11 611.10 Td (less ) Tj ET Q q 0 0 0 rg BT 490.63 611.10 Td (attractive ) Tj ET Q q 0 0 0 rg BT 530.35 611.10 Td (because ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 599.10 Td (we ) Tj ET Q q 0 0 0 rg BT 64.12 599.10 Td (may ) Tj ET Q q 0 0 0 rg BT 83.80 599.10 Td (rely ) Tj ET Q q 0 0 0 rg BT 101.81 599.10 Td (on ) Tj ET Q q 0 0 0 rg BT 114.27 599.10 Td (these ) Tj ET Q q 0 0 0 rg BT 137.28 599.10 Td (exemptions. ) Tj ET Q q 0 0 0 rg BT 188.35 599.10 Td (If ) Tj ET Q q 0 0 0 rg BT 197.47 599.10 Td (some ) Tj ET Q q 0 0 0 rg BT 221.04 599.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 259.61 599.10 Td (find ) Tj ET Q q 0 0 0 rg BT 278.18 599.10 Td (our ) Tj ET Q q 0 0 0 rg BT 293.98 599.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 330.32 599.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 357.77 599.10 Td (less ) Tj ET Q q 0 0 0 rg BT 375.23 599.10 Td (attractive ) Tj ET Q q 0 0 0 rg BT 414.89 599.10 Td (as ) Tj ET Q q 0 0 0 rg BT 425.68 599.10 Td (a ) Tj ET Q q 0 0 0 rg BT 432.58 599.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 459.76 599.10 Td (there ) Tj ET Q q 0 0 0 rg BT 482.21 599.10 Td (may ) Tj ET Q q 0 0 0 rg BT 501.89 599.10 Td (be ) Tj ET Q q 0 0 0 rg BT 513.79 599.10 Td (a ) Tj ET Q q 0 0 0 rg BT 520.69 599.10 Td (less ) Tj ET Q q 0 0 0 rg BT 538.15 599.10 Td (active ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 587.10 Td (trading ) Tj ET Q q 0 0 0 rg BT 80.83 587.10 Td (market ) Tj ET Q q 0 0 0 rg BT 111.09 587.10 Td (for ) Tj ET Q q 0 0 0 rg BT 125.25 587.10 Td (these ) Tj ET Q q 0 0 0 rg BT 148.30 587.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 175.79 587.10 Td (and ) Tj ET Q q 0 0 0 rg BT 192.72 587.10 Td (our ) Tj ET Q q 0 0 0 rg BT 208.55 587.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 232.16 587.10 Td (price ) Tj ET Q q 0 0 0 rg BT 254.65 587.10 Td (may ) Tj ET Q q 0 0 0 rg BT 274.37 587.10 Td (be ) Tj ET Q q 0 0 0 rg BT 286.30 587.10 Td (more ) Tj ET Q q 0 0 0 rg BT 309.35 587.10 Td (volatile.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 563.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 82.34 563.10 Td (107 ) Tj ET Q q 0 0 0 rg BT 99.68 563.10 Td (of ) Tj ET Q q 0 0 0 rg BT 110.36 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 124.92 563.10 Td (JOBS ) Tj ET Q q 0 0 0 rg BT 150.09 563.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 166.87 563.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 203.65 563.10 Td (that ) Tj ET Q q 0 0 0 rg BT 220.99 563.10 Td (an ) Tj ET Q q 0 0 0 rg BT 232.77 563.10 Td (emer) Tj ET Q q 0 0 0 rg BT 257.02 563.10 Td (ging ) Tj ET Q q 0 0 0 rg BT 277.14 563.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 307.81 563.10 Td (company ) Tj ET Q q 0 0 0 rg BT 351.25 563.10 Td (can ) Tj ET Q q 0 0 0 rg BT 367.47 563.10 Td (take ) Tj ET Q q 0 0 0 rg BT 386.47 563.10 Td (advantage ) Tj ET Q q 0 0 0 rg BT 429.35 563.10 Td (of ) Tj ET Q q 0 0 0 rg BT 440.02 563.10 Td (an ) Tj ET Q q 0 0 0 rg BT 451.80 563.10 Td (extended ) Tj ET Q q 0 0 0 rg BT 490.24 563.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 536.46 563.10 Td (period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 551.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.36 551.10 Td (complying ) Tj ET Q q 0 0 0 rg BT 107.83 551.10 Td (with ) Tj ET Q q 0 0 0 rg BT 127.31 551.10 Td (new ) Tj ET Q q 0 0 0 rg BT 145.67 551.10 Td (or ) Tj ET Q q 0 0 0 rg BT 155.70 551.10 Td (revised ) Tj ET Q q 0 0 0 rg BT 186.27 551.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 231.85 551.10 Td (standards. ) Tj ET Q q 0 0 0 rg BT 273.81 551.10 Td (However) Tj ET Q q 0 0 0 rg BT 310.06 551.10 Td (, ) Tj ET Q q 0 0 0 rg BT 314.26 551.10 Td (we ) Tj ET Q q 0 0 0 rg BT 327.62 551.10 Td (are ) Tj ET Q q 0 0 0 rg BT 341.53 551.10 Td (choosing ) Tj ET Q q 0 0 0 rg BT 379.34 551.10 Td (to ) Tj ET Q q 0 0 0 rg BT 388.81 551.10 Td (opt ) Tj ET Q q 0 0 0 rg BT 407.73 551.10 Td (out ) Tj ET Q q 0 0 0 rg BT 426.65 551.10 Td (of ) Tj ET Q q 0 0 0 rg BT 436.67 551.10 Td (such ) Tj ET Q q 0 0 0 rg BT 456.70 551.10 Td (extended ) Tj ET Q q 0 0 0 rg BT 494.50 551.10 Td (transition ) Tj ET Q q 0 0 0 rg BT 533.97 551.10 Td (period, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 539.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.29 539.10 Td (as ) Tj ET Q q 0 0 0 rg BT 76.47 539.10 Td (a ) Tj ET Q q 0 0 0 rg BT 82.77 539.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 109.34 539.10 Td (we ) Tj ET Q q 0 0 0 rg BT 122.85 539.10 Td (will ) Tj ET Q q 0 0 0 rg BT 140.26 539.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 172.11 539.10 Td (with ) Tj ET Q q 0 0 0 rg BT 191.74 539.10 Td (new ) Tj ET Q q 0 0 0 rg BT 210.25 539.10 Td (or ) Tj ET Q q 0 0 0 rg BT 220.43 539.10 Td (revised ) Tj ET Q q 0 0 0 rg BT 251.16 539.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 296.89 539.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 336.51 539.10 Td (on ) Tj ET Q q 0 0 0 rg BT 348.36 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.43 539.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 396.49 539.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 418.89 539.10 Td (on ) Tj ET Q q 0 0 0 rg BT 430.74 539.10 Td (which ) Tj ET Q q 0 0 0 rg BT 457.03 539.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 493.88 539.10 Td (of ) Tj ET Q q 0 0 0 rg BT 504.06 539.10 Td (such ) Tj ET Q q 0 0 0 rg BT 524.25 539.10 Td (standards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 527.10 Td (is ) Tj ET Q q 0 0 0 rg BT 58.76 527.10 Td (required ) Tj ET Q q 0 0 0 rg BT 94.17 527.10 Td (for ) Tj ET Q q 0 0 0 rg BT 107.93 527.10 Td (non-emer) Tj ET Q q 0 0 0 rg BT 146.06 527.10 Td (ging ) Tj ET Q q 0 0 0 rg BT 165.94 527.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 196.36 527.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 243.72 527.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 261.37 527.10 Td (decision ) Tj ET Q q 0 0 0 rg BT 296.79 527.10 Td (to ) Tj ET Q q 0 0 0 rg BT 306.66 527.10 Td (opt ) Tj ET Q q 0 0 0 rg BT 321.53 527.10 Td (out ) Tj ET Q q 0 0 0 rg BT 336.41 527.10 Td (of ) Tj ET Q q 0 0 0 rg BT 346.83 527.10 Td (the ) Tj ET Q q 0 0 0 rg BT 361.14 527.10 Td (extended ) Tj ET Q q 0 0 0 rg BT 399.33 527.10 Td (transition ) Tj ET Q q 0 0 0 rg BT 439.20 527.10 Td (period ) Tj ET Q q 0 0 0 rg BT 466.84 527.10 Td (for ) Tj ET Q q 0 0 0 rg BT 480.60 527.10 Td (complying ) Tj ET Q q 0 0 0 rg BT 525.46 527.10 Td (with ) Tj ET Q q 0 0 0 rg BT 545.34 527.10 Td (new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 515.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.83 515.10 Td (revised ) Tj ET Q q 0 0 0 rg BT 92.21 515.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 138.58 515.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 178.85 515.10 Td (is ) Tj ET Q q 0 0 0 rg BT 188.02 515.10 Td (irrevocable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 489.30 Td (Item 1B. Unr) Tj ET Q q 0 0 0 rg BT 106.20 489.30 Td (esolved Staff Comments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.50 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 436.70 Td (Item ) Tj ET Q q 0 0 0 rg BT 72.49 436.70 Td (2. ) Tj ET Q q 0 0 0 rg BT 82.49 436.70 Td (Pr) Tj ET Q q 0 0 0 rg BT 92.86 436.70 Td (operties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.70 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.38 412.70 Td (corporate ) Tj ET Q q 0 0 0 rg BT 108.96 412.70 Td (headquarters ) Tj ET Q q 0 0 0 rg BT 162.88 412.70 Td (is ) Tj ET Q q 0 0 0 rg BT 172.37 412.70 Td (located ) Tj ET Q q 0 0 0 rg BT 204.07 412.70 Td (at ) Tj ET Q q 0 0 0 rg BT 214.12 412.70 Td (150 ) Tj ET Q q 0 0 0 rg BT 231.95 412.70 Td (Northwest ) Tj ET Q q 0 0 0 rg BT 276.44 412.70 Td (Point ) Tj ET Q q 0 0 0 rg BT 300.38 412.70 Td (Boulevard, ) Tj ET Q q 0 0 0 rg BT 347.37 412.70 Td (Elk ) Tj ET Q q 0 0 0 rg BT 364.08 412.70 Td (Grove ) Tj ET Q q 0 0 0 rg BT 391.70 412.70 Td (V) Tj ET Q q 0 0 0 rg BT 398.32 412.70 Td (illage, ) Tj ET Q q 0 0 0 rg BT 425.86 412.70 Td (Illinois ) Tj ET Q q 0 0 0 rg BT 457.02 412.70 Td (60007, ) Tj ET Q q 0 0 0 rg BT 487.35 412.70 Td (USA. ) Tj ET Q q 0 0 0 rg BT 512.69 412.70 Td ( ) Tj ET Q q 0 0 0 rg BT 515.31 412.70 Td (The ) Tj ET Q q 0 0 0 rg BT 533.68 412.70 Td (facility ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.70 Td (consists ) Tj ET Q q 0 0 0 rg BT 83.68 400.70 Td (of ) Tj ET Q q 0 0 0 rg BT 94.01 400.70 Td (one ) Tj ET Q q 0 0 0 rg BT 110.46 400.70 Td (of) Tj ET Q q 0 0 0 rg BT 118.61 400.70 Td (fice ) Tj ET Q q 0 0 0 rg BT 135.60 400.70 Td (building ) Tj ET Q q 0 0 0 rg BT 170.94 400.70 Td (totaling ) Tj ET Q q 0 0 0 rg BT 203.50 400.70 Td (176,844 ) Tj ET Q q 0 0 0 rg BT 238.00 400.70 Td (net ) Tj ET Q q 0 0 0 rg BT 252.22 400.70 Td (rentable ) Tj ET Q q 0 0 0 rg BT 286.43 400.70 Td (square ) Tj ET Q q 0 0 0 rg BT 314.54 400.70 Td (feet ) Tj ET Q q 0 0 0 rg BT 331.53 400.70 Td (of ) Tj ET Q q 0 0 0 rg BT 341.86 400.70 Td (of) Tj ET Q q 0 0 0 rg BT 350.01 400.70 Td (fice ) Tj ET Q q 0 0 0 rg BT 367.00 400.70 Td (space ) Tj ET Q q 0 0 0 rg BT 391.22 400.70 Td (on ) Tj ET Q q 0 0 0 rg BT 403.22 400.70 Td (7.2 ) Tj ET Q q 0 0 0 rg BT 417.73 400.70 Td (acres. ) Tj ET Q q 0 0 0 rg BT 442.63 400.70 Td (W) Tj ET Q q 0 0 0 rg BT 451.26 400.70 Td (e ) Tj ET Q q 0 0 0 rg BT 457.71 400.70 Td ( ) Tj ET Q q 0 0 0 rg BT 459.71 400.70 Td (are ) Tj ET Q q 0 0 0 rg BT 473.93 400.70 Td (leasing ) Tj ET Q q 0 0 0 rg BT 504.26 400.70 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.70 Td (30,600 ) Tj ET Q q 0 0 0 rg BT 79.24 388.70 Td (square ) Tj ET Q q 0 0 0 rg BT 107.08 388.70 Td (feet ) Tj ET Q q 0 0 0 rg BT 123.80 388.70 Td (for ) Tj ET Q q 0 0 0 rg BT 137.20 388.70 Td (a ) Tj ET Q q 0 0 0 rg BT 143.38 388.70 Td (term ) Tj ET Q q 0 0 0 rg BT 163.45 388.70 Td (of ) Tj ET Q q 0 0 0 rg BT 173.52 388.70 Td (60 ) Tj ET Q q 0 0 0 rg BT 185.26 388.70 Td (months ) Tj ET Q q 0 0 0 rg BT 216.44 388.70 Td (that ) Tj ET Q q 0 0 0 rg BT 233.18 388.70 Td (began ) Tj ET Q q 0 0 0 rg BT 258.80 388.70 Td (May ) Tj ET Q q 0 0 0 rg BT 278.87 388.70 Td (22, ) Tj ET Q q 0 0 0 rg BT 293.10 388.70 Td (2012, ) Tj ET Q q 0 0 0 rg BT 317.34 388.70 Td (unless ) Tj ET Q q 0 0 0 rg BT 344.08 388.70 Td (terminated ) Tj ET Q q 0 0 0 rg BT 388.58 388.70 Td (or ) Tj ET Q q 0 0 0 rg BT 398.65 388.70 Td (extended ) Tj ET Q q 0 0 0 rg BT 436.49 388.70 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 472.66 388.70 Td (to ) Tj ET Q q 0 0 0 rg BT 482.18 388.70 Td (the ) Tj ET Q q 0 0 0 rg BT 496.14 388.70 Td (lease ) Tj ET Q q 0 0 0 rg BT 517.86 388.70 Td (agreement. ) Tj ET Q q 0 0 0 rg BT 564.50 388.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.70 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 376.70 Td (e ) Tj ET Q q 0 0 0 rg BT 66.39 376.70 Td (are ) Tj ET Q q 0 0 0 rg BT 81.91 376.70 Td (paying ) Tj ET Q q 0 0 0 rg BT 112.44 376.70 Td (an ) Tj ET Q q 0 0 0 rg BT 125.19 376.70 Td (annual ) Tj ET Q q 0 0 0 rg BT 155.15 376.70 Td (rent ) Tj ET Q q 0 0 0 rg BT 174.01 376.70 Td (equal ) Tj ET Q q 0 0 0 rg BT 198.98 376.70 Td (to ) Tj ET Q q 0 0 0 rg BT 210.07 376.70 Td (approximately ) Tj ET Q q 0 0 0 rg BT 271.14 376.70 Td ($696,000, ) Tj ET Q q 0 0 0 rg BT 314.45 376.70 Td (or ) Tj ET Q q 0 0 0 rg BT 326.10 376.70 Td (approximately ) Tj ET Q q 0 0 0 rg BT 387.17 376.70 Td ($58,000 ) Tj ET Q q 0 0 0 rg BT 422.98 376.70 Td (per ) Tj ET Q q 0 0 0 rg BT 439.06 376.70 Td (month, ) Tj ET Q q 0 0 0 rg BT 470.43 376.70 Td (with ) Tj ET Q q 0 0 0 rg BT 491.52 376.70 Td (a ) Tj ET Q q 0 0 0 rg BT 499.27 376.70 Td (nominal ) Tj ET Q q 0 0 0 rg BT 535.35 376.70 Td (annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.70 Td (escalation ) Tj ET Q q 0 0 0 rg BT 92.51 364.70 Td (beginning ) Tj ET Q q 0 0 0 rg BT 135.04 364.70 Td (on ) Tj ET Q q 0 0 0 rg BT 147.58 364.70 Td (the ) Tj ET Q q 0 0 0 rg BT 162.33 364.70 Td (first ) Tj ET Q q 0 0 0 rg BT 180.97 364.70 Td (anniversary ) Tj ET Q q 0 0 0 rg BT 230.15 364.70 Td (date ) Tj ET Q q 0 0 0 rg BT 249.34 364.70 Td (of ) Tj ET Q q 0 0 0 rg BT 260.21 364.70 Td (the ) Tj ET Q q 0 0 0 rg BT 274.96 364.70 Td (lease ) Tj ET Q q 0 0 0 rg BT 297.48 364.70 Td (agreement. ) Tj ET Q q 0 0 0 rg BT 343.97 364.70 Td (W) Tj ET Q q 0 0 0 rg BT 352.60 364.70 Td (e ) Tj ET Q q 0 0 0 rg BT 359.58 364.70 Td (believe ) Tj ET Q q 0 0 0 rg BT 390.98 364.70 Td (the ) Tj ET Q q 0 0 0 rg BT 405.73 364.70 Td (facility ) Tj ET Q q 0 0 0 rg BT 436.59 364.70 Td (is ) Tj ET Q q 0 0 0 rg BT 445.79 364.70 Td (suitable ) Tj ET Q q 0 0 0 rg BT 479.43 364.70 Td (and ) Tj ET Q q 0 0 0 rg BT 496.40 364.70 Td (adequate ) Tj ET Q q 0 0 0 rg BT 534.47 364.70 Td (for ) Tj ET Q q 0 0 0 rg BT 548.66 364.70 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.70 Td (current ) Tj ET Q q 0 0 0 rg BT 80.58 352.70 Td (business ) Tj ET Q q 0 0 0 rg BT 116.73 352.70 Td (needs. ) Tj ET Q q 0 0 0 rg BT 144.26 352.70 Td ( ) Tj ET Q q 0 0 0 rg BT 146.52 352.70 Td (Prior ) Tj ET Q q 0 0 0 rg BT 168.79 352.70 Td (to ) Tj ET Q q 0 0 0 rg BT 178.83 352.70 Td (the ) Tj ET Q q 0 0 0 rg BT 193.31 352.70 Td (expiration ) Tj ET Q q 0 0 0 rg BT 236.11 352.70 Td (of ) Tj ET Q q 0 0 0 rg BT 246.70 352.70 Td (the ) Tj ET Q q 0 0 0 rg BT 261.18 352.70 Td (aforementioned ) Tj ET Q q 0 0 0 rg BT 326.19 352.70 Td (lease, ) Tj ET Q q 0 0 0 rg BT 350.94 352.70 Td (we ) Tj ET Q q 0 0 0 rg BT 364.86 352.70 Td (will ) Tj ET Q q 0 0 0 rg BT 382.68 352.70 Td (explore ) Tj ET Q q 0 0 0 rg BT 414.93 352.70 Td (alternatives ) Tj ET Q q 0 0 0 rg BT 463.28 352.70 Td (to ) Tj ET Q q 0 0 0 rg BT 473.32 352.70 Td (meet ) Tj ET Q q 0 0 0 rg BT 495.02 352.70 Td (our ) Tj ET Q q 0 0 0 rg BT 510.61 352.70 Td (future ) Tj ET Q q 0 0 0 rg BT 536.75 352.70 Td (needs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.70 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 328.70 Td (e ) Tj ET Q q 0 0 0 rg BT 65.38 328.70 Td (own ) Tj ET Q q 0 0 0 rg BT 84.90 328.70 Td (two ) Tj ET Q q 0 0 0 rg BT 102.20 328.70 Td (properties ) Tj ET Q q 0 0 0 rg BT 144.49 328.70 Td (in ) Tj ET Q q 0 0 0 rg BT 154.06 328.70 Td (Alabama, ) Tj ET Q q 0 0 0 rg BT 194.96 328.70 Td (which ) Tj ET Q q 0 0 0 rg BT 221.70 328.70 Td (together ) Tj ET Q q 0 0 0 rg BT 256.77 328.70 Td (comprise ) Tj ET Q q 0 0 0 rg BT 295.72 328.70 Td (approximately ) Tj ET Q q 0 0 0 rg BT 355.79 328.70 Td (50 ) Tj ET Q q 0 0 0 rg BT 368.09 328.70 Td (acres ) Tj ET Q q 0 0 0 rg BT 390.93 328.70 Td (of ) Tj ET Q q 0 0 0 rg BT 401.56 328.70 Td (land. ) Tj ET Q q 0 0 0 rg BT 423.41 328.70 Td (These ) Tj ET Q q 0 0 0 rg BT 449.59 328.70 Td (properties ) Tj ET Q q 0 0 0 rg BT 491.88 328.70 Td (are ) Tj ET Q q 0 0 0 rg BT 506.39 328.70 Td (currently ) Tj ET Q q 0 0 0 rg BT 544.78 328.70 Td (held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.70 Td (for ) Tj ET Q q 0 0 0 rg BT 64.16 316.70 Td (sale. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.70 Td (Upon ) Tj ET Q q 0 0 0 rg BT 75.14 292.70 Td (completion ) Tj ET Q q 0 0 0 rg BT 123.05 292.70 Td (of ) Tj ET Q q 0 0 0 rg BT 134.31 292.70 Td (the ) Tj ET Q q 0 0 0 rg BT 149.44 292.70 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 187.90 292.70 Td (acquisition, ) Tj ET Q q 0 0 0 rg BT 237.21 292.70 Td (we ) Tj ET Q q 0 0 0 rg BT 251.79 292.70 Td (assumed ) Tj ET Q q 0 0 0 rg BT 289.15 292.70 Td (a ) Tj ET Q q 0 0 0 rg BT 296.51 292.70 Td (lease ) Tj ET Q q 0 0 0 rg BT 319.41 292.70 Td (for ) Tj ET Q q 0 0 0 rg BT 334.00 292.70 Td (12,937 ) Tj ET Q q 0 0 0 rg BT 364.42 292.70 Td (square ) Tj ET Q q 0 0 0 rg BT 393.44 292.70 Td (feet ) Tj ET Q q 0 0 0 rg BT 411.34 292.70 Td (of ) Tj ET Q q 0 0 0 rg BT 422.60 292.70 Td (of) Tj ET Q q 0 0 0 rg BT 430.74 292.70 Td (fice ) Tj ET Q q 0 0 0 rg BT 448.65 292.70 Td (space ) Tj ET Q q 0 0 0 rg BT 473.78 292.70 Td (in ) Tj ET Q q 0 0 0 rg BT 484.48 292.70 Td (St. ) Tj ET Q q 0 0 0 rg BT 498.24 292.70 Td (Louis, ) Tj ET Q q 0 0 0 rg BT 526.44 292.70 Td (Missouri ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.70 Td (which ) Tj ET Q q 0 0 0 rg BT 76.44 280.70 Td (is ) Tj ET Q q 0 0 0 rg BT 85.11 280.70 Td (ef) Tj ET Q q 0 0 0 rg BT 92.70 280.70 Td (fective ) Tj ET Q q 0 0 0 rg BT 121.90 280.70 Td (through ) Tj ET Q q 0 0 0 rg BT 155.00 280.70 Td (February ) Tj ET Q q 0 0 0 rg BT 193.10 280.70 Td (2016. ) Tj ET Q q 0 0 0 rg BT 217.46 280.70 Td (W) Tj ET Q q 0 0 0 rg BT 226.10 280.70 Td (e ) Tj ET Q q 0 0 0 rg BT 232.53 280.70 Td (currently ) Tj ET Q q 0 0 0 rg BT 270.63 280.70 Td (pay ) Tj ET Q q 0 0 0 rg BT 287.06 280.70 Td (a ) Tj ET Q q 0 0 0 rg BT 293.50 280.70 Td (monthly ) Tj ET Q q 0 0 0 rg BT 328.84 280.70 Td (rent ) Tj ET Q q 0 0 0 rg BT 346.38 280.70 Td (equal ) Tj ET Q q 0 0 0 rg BT 370.04 280.70 Td (to ) Tj ET Q q 0 0 0 rg BT 379.82 280.70 Td (approximately ) Tj ET Q q 0 0 0 rg BT 439.57 280.70 Td ($29,000. ) Tj ET Q q 0 0 0 rg BT 476.57 280.70 Td (Some ) Tj ET Q q 0 0 0 rg BT 501.35 280.70 Td (of ) Tj ET Q q 0 0 0 rg BT 511.68 280.70 Td (the ) Tj ET Q q 0 0 0 rg BT 525.90 280.70 Td (expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.70 Td (related ) Tj ET Q q 0 0 0 rg BT 79.70 268.70 Td (to ) Tj ET Q q 0 0 0 rg BT 89.98 268.70 Td (the ) Tj ET Q q 0 0 0 rg BT 104.70 268.70 Td (lease ) Tj ET Q q 0 0 0 rg BT 127.18 268.70 Td (are ) Tj ET Q q 0 0 0 rg BT 141.89 268.70 Td (shared ) Tj ET Q q 0 0 0 rg BT 170.49 268.70 Td (with ) Tj ET Q q 0 0 0 rg BT 190.77 268.70 Td (the ) Tj ET Q q 0 0 0 rg BT 205.48 268.70 Td (former ) Tj ET Q q 0 0 0 rg BT 235.19 268.70 Td (parent ) Tj ET Q q 0 0 0 rg BT 262.68 268.70 Td (of ) Tj ET Q q 0 0 0 rg BT 273.51 268.70 Td (Camelot ) Tj ET Q q 0 0 0 rg BT 309.89 268.70 Td (Services. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 244.70 Td (Item 3. Legal Pr) Tj ET Q q 0 0 0 rg BT 119.24 244.70 Td (oceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.70 Td (In ) Tj ET Q q 0 0 0 rg BT 61.37 220.70 Td (connection ) Tj ET Q q 0 0 0 rg BT 108.28 220.70 Td (with ) Tj ET Q q 0 0 0 rg BT 129.10 220.70 Td (our ) Tj ET Q q 0 0 0 rg BT 145.46 220.70 Td (operations, ) Tj ET Q q 0 0 0 rg BT 192.66 220.70 Td (we ) Tj ET Q q 0 0 0 rg BT 207.36 220.70 Td (are, ) Tj ET Q q 0 0 0 rg BT 225.10 220.70 Td (from ) Tj ET Q q 0 0 0 rg BT 247.58 220.70 Td (time ) Tj ET Q q 0 0 0 rg BT 268.39 220.70 Td (to ) Tj ET Q q 0 0 0 rg BT 279.21 220.70 Td (time, ) Tj ET Q q 0 0 0 rg BT 302.52 220.70 Td (named ) Tj ET Q q 0 0 0 rg BT 332.21 220.70 Td (as ) Tj ET Q q 0 0 0 rg BT 343.58 220.70 Td (defendants ) Tj ET Q q 0 0 0 rg BT 389.94 220.70 Td (in ) Tj ET Q q 0 0 0 rg BT 400.75 220.70 Td (actions ) Tj ET Q q 0 0 0 rg BT 432.12 220.70 Td (for ) Tj ET Q q 0 0 0 rg BT 446.82 220.70 Td (damages ) Tj ET Q q 0 0 0 rg BT 484.84 220.70 Td (and ) Tj ET Q q 0 0 0 rg BT 502.32 220.70 Td (costs ) Tj ET Q q 0 0 0 rg BT 525.36 220.70 Td (allegedly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.70 Td (sustained ) Tj ET Q q 0 0 0 rg BT 89.96 208.70 Td (by ) Tj ET Q q 0 0 0 rg BT 102.69 208.70 Td (the ) Tj ET Q q 0 0 0 rg BT 117.65 208.70 Td (plaintif) Tj ET Q q 0 0 0 rg BT 146.35 208.70 Td (fs. ) Tj ET Q q 0 0 0 rg BT 158.61 208.70 Td (While ) Tj ET Q q 0 0 0 rg BT 185.78 208.70 Td (it ) Tj ET Q q 0 0 0 rg BT 194.08 208.70 Td (is ) Tj ET Q q 0 0 0 rg BT 203.49 208.70 Td (not ) Tj ET Q q 0 0 0 rg BT 219.00 208.70 Td (possible ) Tj ET Q q 0 0 0 rg BT 254.52 208.70 Td (to ) Tj ET Q q 0 0 0 rg BT 265.04 208.70 Td (estimate ) Tj ET Q q 0 0 0 rg BT 301.09 208.70 Td (the ) Tj ET Q q 0 0 0 rg BT 316.05 208.70 Td (outcome ) Tj ET Q q 0 0 0 rg BT 353.22 208.70 Td (of ) Tj ET Q q 0 0 0 rg BT 364.29 208.70 Td (the ) Tj ET Q q 0 0 0 rg BT 379.25 208.70 Td (various ) Tj ET Q q 0 0 0 rg BT 411.42 208.70 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 462.48 208.70 Td (at ) Tj ET Q q 0 0 0 rg BT 472.43 208.70 Td (this ) Tj ET Q q 0 0 0 rg BT 489.62 208.70 Td (time, ) Tj ET Q q 0 0 0 rg BT 512.63 208.70 Td (such ) Tj ET Q q 0 0 0 rg BT 533.70 208.70 Td (actions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.70 Td (have ) Tj ET Q q 0 0 0 rg BT 71.01 196.70 Td (generally ) Tj ET Q q 0 0 0 rg BT 110.34 196.70 Td (been ) Tj ET Q q 0 0 0 rg BT 131.35 196.70 Td (resolved ) Tj ET Q q 0 0 0 rg BT 167.36 196.70 Td (with ) Tj ET Q q 0 0 0 rg BT 187.27 196.70 Td (minimal ) Tj ET Q q 0 0 0 rg BT 222.73 196.70 Td (damages ) Tj ET Q q 0 0 0 rg BT 259.85 196.70 Td (or ) Tj ET Q q 0 0 0 rg BT 270.31 196.70 Td (expense ) Tj ET Q q 0 0 0 rg BT 304.65 196.70 Td (in ) Tj ET Q q 0 0 0 rg BT 314.56 196.70 Td (excess ) Tj ET Q q 0 0 0 rg BT 342.79 196.70 Td (of ) Tj ET Q q 0 0 0 rg BT 353.25 196.70 Td (amounts ) Tj ET Q q 0 0 0 rg BT 389.27 196.70 Td (provided ) Tj ET Q q 0 0 0 rg BT 426.94 196.70 Td (and ) Tj ET Q q 0 0 0 rg BT 443.51 196.70 Td (our ) Tj ET Q q 0 0 0 rg BT 458.97 196.70 Td (company ) Tj ET Q q 0 0 0 rg BT 497.76 196.70 Td (does ) Tj ET Q q 0 0 0 rg BT 518.22 196.70 Td (not ) Tj ET Q q 0 0 0 rg BT 533.13 196.70 Td (believe ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.70 Td (that ) Tj ET Q q 0 0 0 rg BT 67.26 184.70 Td (it ) Tj ET Q q 0 0 0 rg BT 75.08 184.70 Td (will ) Tj ET Q q 0 0 0 rg BT 92.90 184.70 Td (incur ) Tj ET Q q 0 0 0 rg BT 115.71 184.70 Td (any ) Tj ET Q q 0 0 0 rg BT 132.41 184.70 Td (significant ) Tj ET Q q 0 0 0 rg BT 176.88 184.70 Td (additional ) Tj ET Q q 0 0 0 rg BT 219.14 184.70 Td (loss ) Tj ET Q q 0 0 0 rg BT 236.96 184.70 Td (or ) Tj ET Q q 0 0 0 rg BT 247.56 184.70 Td (expense ) Tj ET Q q 0 0 0 rg BT 282.03 184.70 Td (in ) Tj ET Q q 0 0 0 rg BT 292.07 184.70 Td (connection ) Tj ET Q q 0 0 0 rg BT 338.20 184.70 Td (with ) Tj ET Q q 0 0 0 rg BT 358.24 184.70 Td (such ) Tj ET Q q 0 0 0 rg BT 378.84 184.70 Td (actions. ) Tj ET Q q 0 0 0 rg BT 411.93 184.70 Td ( ) Tj ET Q q 0 0 0 rg BT 414.19 184.70 Td ( ) Tj ET Q q 0 0 0 rg BT 416.29 184.70 Td (The ) Tj ET Q q 0 0 0 rg BT 434.10 184.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 475.25 184.70 Td (does ) Tj ET Q q 0 0 0 rg BT 495.84 184.70 Td (not ) Tj ET Q q 0 0 0 rg BT 510.88 184.70 Td (believe ) Tj ET Q q 0 0 0 rg BT 542.02 184.70 Td (there ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.70 Td (is ) Tj ET Q q 0 0 0 rg BT 58.97 172.70 Td (any ) Tj ET Q q 0 0 0 rg BT 75.72 172.70 Td (litigation ) Tj ET Q q 0 0 0 rg BT 114.13 172.70 Td (pending ) Tj ET Q q 0 0 0 rg BT 148.65 172.70 Td (or ) Tj ET Q q 0 0 0 rg BT 159.28 172.70 Td (threatened ) Tj ET Q q 0 0 0 rg BT 203.23 172.70 Td (against ) Tj ET Q q 0 0 0 rg BT 233.86 172.70 Td (it ) Tj ET Q q 0 0 0 rg BT 241.72 172.70 Td (that, ) Tj ET Q q 0 0 0 rg BT 261.51 172.70 Td (individually ) Tj ET Q q 0 0 0 rg BT 312.15 172.70 Td (or ) Tj ET Q q 0 0 0 rg BT 322.78 172.70 Td (in ) Tj ET Q q 0 0 0 rg BT 332.86 172.70 Td (aggregate, ) Tj ET Q q 0 0 0 rg BT 376.53 172.70 Td (may ) Tj ET Q q 0 0 0 rg BT 396.05 172.70 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 441.67 172.70 Td (be ) Tj ET Q q 0 0 0 rg BT 453.41 172.70 Td (expected ) Tj ET Q q 0 0 0 rg BT 491.25 172.70 Td (to ) Tj ET Q q 0 0 0 rg BT 501.33 172.70 Td (have ) Tj ET Q q 0 0 0 rg BT 522.51 172.70 Td (a ) Tj ET Q q 0 0 0 rg BT 529.25 172.70 Td (material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.70 Td (adverse ) Tj ET Q q 0 0 0 rg BT 83.04 160.70 Td (ef) Tj ET Q q 0 0 0 rg BT 90.63 160.70 Td (fect ) Tj ET Q q 0 0 0 rg BT 108.11 160.70 Td (on ) Tj ET Q q 0 0 0 rg BT 120.61 160.70 Td (the ) Tj ET Q q 0 0 0 rg BT 135.33 160.70 Td (Company) Tj ET Q q 0 0 0 rg BT 173.56 160.70 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 134.90 Td (Item 4. Mine Safety Disclosur) Tj ET Q q 0 0 0 rg BT 176.19 134.90 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.10 Td (Not applicable.) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Part II) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 717.25 Td (Item 5. Market for) Tj ET Q q 0 0 0 rg BT 129.79 717.25 Td ( Registrant's Common Equity) Tj ET Q q 0 0 0 rg BT 256.74 717.25 Td (, Related Stockholder) Tj ET Q q 0 0 0 rg BT 348.50 717.25 Td ( Matters and Issuer) Tj ET Q q 0 0 0 rg BT 431.92 717.25 Td ( Pur) Tj ET Q q 0 0 0 rg BT 450.35 717.25 Td (chases of Equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 705.25 Td (Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 681.25 Td (As ) Tj ET Q q 0 0 0 rg BT 63.64 681.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 681.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 133.12 681.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.12 681.25 Td (, ) Tj ET Q q 0 0 0 rg BT 158.14 681.25 Td (there ) Tj ET Q q 0 0 0 rg BT 180.66 681.25 Td (were ) Tj ET Q q 0 0 0 rg BT 202.62 681.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 262.91 681.25 Td (2,280 ) Tj ET Q q 0 0 0 rg BT 287.93 681.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 341.00 681.25 Td (of ) Tj ET Q q 0 0 0 rg BT 351.86 681.25 Td (record ) Tj ET Q q 0 0 0 rg BT 379.93 681.25 Td (of ) Tj ET Q q 0 0 0 rg BT 390.79 681.25 Td (our ) Tj ET Q q 0 0 0 rg BT 406.65 681.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 443.05 681.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 470.57 681.25 Td (and ) Tj ET Q q 0 0 0 rg BT 487.54 681.25 Td (one ) Tj ET Q q 0 0 0 rg BT 504.51 681.25 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 553.68 681.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 669.25 Td (record ) Tj ET Q q 0 0 0 rg BT 77.62 669.25 Td (of ) Tj ET Q q 0 0 0 rg BT 88.03 669.25 Td (our ) Tj ET Q q 0 0 0 rg BT 103.44 669.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 142.72 669.25 Td (voting ) Tj ET Q q 0 0 0 rg BT 170.36 669.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 197.43 669.25 Td ( ) Tj ET Q q 0 0 0 rg BT 199.51 669.25 Td (\(all ) Tj ET Q q 0 0 0 rg BT 214.91 669.25 Td (of ) Tj ET Q q 0 0 0 rg BT 225.32 669.25 Td (which ) Tj ET Q q 0 0 0 rg BT 251.84 669.25 Td (convert ) Tj ET Q q 0 0 0 rg BT 283.91 669.25 Td (to ) Tj ET Q q 0 0 0 rg BT 293.76 669.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 329.72 669.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 356.79 669.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 378.87 669.25 Td (the ) Tj ET Q q 0 0 0 rg BT 393.17 669.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 410.80 669.25 Td (of ) Tj ET Q q 0 0 0 rg BT 421.21 669.25 Td (such ) Tj ET Q q 0 0 0 rg BT 441.62 669.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 468.69 669.25 Td (by ) Tj ET Q q 0 0 0 rg BT 480.77 669.25 Td (the ) Tj ET Q q 0 0 0 rg BT 495.06 669.25 Td (sole ) Tj ET Q q 0 0 0 rg BT 513.25 669.25 Td (shareholder) Tj ET Q q 0 0 0 rg BT 559.50 669.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 657.25 Td (KAI, ) Tj ET Q q 0 0 0 rg BT 72.31 657.25 Td (or ) Tj ET Q q 0 0 0 rg BT 82.68 657.25 Td (its ) Tj ET Q q 0 0 0 rg BT 94.16 657.25 Td (subsidiaries\). ) Tj ET Q q 0 0 0 rg BT 149.24 657.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 166.83 657.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 202.74 657.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 229.77 657.25 Td (have ) Tj ET Q q 0 0 0 rg BT 250.68 657.25 Td (been ) Tj ET Q q 0 0 0 rg BT 271.60 657.25 Td (listed ) Tj ET Q q 0 0 0 rg BT 295.30 657.25 Td (on ) Tj ET Q q 0 0 0 rg BT 307.33 657.25 Td (the ) Tj ET Q q 0 0 0 rg BT 321.59 657.25 Td (NASDAQ ) Tj ET Q q 0 0 0 rg BT 365.29 657.25 Td (under ) Tj ET Q q 0 0 0 rg BT 390.10 657.25 Td (the ) Tj ET Q q 0 0 0 rg BT 404.35 657.25 Td (symbol ) Tj ET Q q 0 0 0 rg BT 435.83 657.25 Td (AFH ) Tj ET Q q 0 0 0 rg BT 466.75 657.25 Td (since ) Tj ET Q q 0 0 0 rg BT 489.34 657.25 Td (February ) Tj ET Q q 0 0 0 rg BT 527.47 657.25 Td (12, ) Tj ET Q q 0 0 0 rg BT 542.01 657.25 Td (2013 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 645.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.41 645.25 Td (were ) Tj ET Q q 0 0 0 rg BT 87.82 645.25 Td (previously ) Tj ET Q q 0 0 0 rg BT 132.01 645.25 Td (listed ) Tj ET Q q 0 0 0 rg BT 155.65 645.25 Td (on ) Tj ET Q q 0 0 0 rg BT 167.62 645.25 Td (the ) Tj ET Q q 0 0 0 rg BT 181.67 645.25 Td (T) Tj ET Q q 0 0 0 rg BT 187.08 645.25 Td (oronto ) Tj ET Q q 0 0 0 rg BT 215.17 645.25 Td (Stock ) Tj ET Q q 0 0 0 rg BT 239.92 645.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 281.32 645.25 Td (- ) Tj ET Q q 0 0 0 rg BT 286.48 645.25 Td (V) Tj ET Q q 0 0 0 rg BT 292.60 645.25 Td (enture ) Tj ET Q q 0 0 0 rg BT 319.56 645.25 Td (\("TSXV"\) ) Tj ET Q q 0 0 0 rg BT 362.47 645.25 Td (under ) Tj ET Q q 0 0 0 rg BT 387.21 645.25 Td (the ) Tj ET Q q 0 0 0 rg BT 401.40 645.25 Td (same ) Tj ET Q q 0 0 0 rg BT 423.93 645.25 Td (symbol ) Tj ET Q q 0 0 0 rg BT 455.35 645.25 Td (beginning ) Tj ET Q q 0 0 0 rg BT 497.32 645.25 Td (January ) Tj ET Q q 0 0 0 rg BT 530.39 645.25 Td (6, ) Tj ET Q q 0 0 0 rg BT 539.87 645.25 Td (201) Tj ET Q q 0 0 0 rg BT 554.50 645.25 Td (1. ) Tj ET Q q 0 0 0 rg BT 564.50 645.25 Td ( ) Tj ET Q q 0 0 0 rg BT 567.00 645.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 633.25 Td (On ) Tj ET Q q 0 0 0 rg BT 64.98 633.25 Td (June ) Tj ET Q q 0 0 0 rg BT 86.06 633.25 Td (5, ) Tj ET Q q 0 0 0 rg BT 96.32 633.25 Td (2013, ) Tj ET Q q 0 0 0 rg BT 121.58 633.25 Td (the ) Tj ET Q q 0 0 0 rg BT 136.55 633.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 178.19 633.25 Td (delisted ) Tj ET Q q 0 0 0 rg BT 212.05 633.25 Td (from ) Tj ET Q q 0 0 0 rg BT 234.25 633.25 Td (the ) Tj ET Q q 0 0 0 rg BT 249.02 633.25 Td (TSXV) Tj ET Q q 0 0 0 rg BT 273.85 633.25 Td (. ) Tj ET Q q 0 0 0 rg BT 279.10 633.25 Td ( ) Tj ET Q q 0 0 0 rg BT 281.25 633.25 Td (As ) Tj ET Q q 0 0 0 rg BT 295.12 633.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.21 633.25 Td (March5, ) Tj ET Q q 0 0 0 rg BT 345.06 633.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.06 633.25 Td (, ) Tj ET Q q 0 0 0 rg BT 370.32 633.25 Td (there ) Tj ET Q q 0 0 0 rg BT 393.06 633.25 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.24 633.25 Td (1) Tj ET Q q 0 0 0 rg BT 419.87 633.25 Td (1,646,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.87 633.25 Td ( ) Tj ET Q q 0 0 0 rg BT 462.63 633.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 499.26 633.25 Td (common ) Tj ET Q q 0 0 0 rg BT 537.01 633.25 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 621.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 621.25 Td (132,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.44 621.25 Td ( ) Tj ET Q q 0 0 0 rg BT 101.94 621.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 141.64 621.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 169.13 621.25 Td (outstanding.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 597.25 Td (Set ) Tj ET Q q 0 0 0 rg BT 65.12 597.25 Td (forth ) Tj ET Q q 0 0 0 rg BT 86.89 597.25 Td (below ) Tj ET Q q 0 0 0 rg BT 113.67 597.25 Td (are ) Tj ET Q q 0 0 0 rg BT 128.22 597.25 Td (the ) Tj ET Q q 0 0 0 rg BT 142.77 597.25 Td (high ) Tj ET Q q 0 0 0 rg BT 162.89 597.25 Td (and ) Tj ET Q q 0 0 0 rg BT 179.67 597.25 Td (low ) Tj ET Q q 0 0 0 rg BT 197.01 597.25 Td (listing ) Tj ET Q q 0 0 0 rg BT 224.35 597.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 250.57 597.25 Td (of ) Tj ET Q q 0 0 0 rg BT 261.24 597.25 Td (the ) Tj ET Q q 0 0 0 rg BT 275.79 597.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 312.01 597.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 339.34 597.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.78 597.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.78 597.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.62 597.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.62 597.25 Td ( ) Tj ET Q q 0 0 0 rg BT 414.96 597.25 Td (and ) Tj ET Q q 0 0 0 rg BT 431.74 597.25 Td (the ) Tj ET Q q 0 0 0 rg BT 446.29 597.25 Td (first ) Tj ET Q q 0 0 0 rg BT 464.74 597.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 495.40 597.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.06 597.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.06 597.25 Td (, ) Tj ET Q q 0 0 0 rg BT 530.90 597.25 Td (through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 585.25 Td (March5, ) Tj ET Q q 0 0 0 rg BT 87.87 585.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.87 585.25 Td ( ) Tj ET Q q 0 0 0 rg BT 109.64 585.25 Td (according ) Tj ET Q q 0 0 0 rg BT 150.83 585.25 Td (to ) Tj ET Q q 0 0 0 rg BT 160.38 585.25 Td (the ) Tj ET Q q 0 0 0 rg BT 174.23 585.25 Td (TSXV) Tj ET Q q 0 0 0 rg BT 200.17 585.25 Td ( ) Tj ET Q q 0 0 0 rg BT 201.94 585.25 Td (and ) Tj ET Q q 0 0 0 rg BT 218.14 585.25 Td (the ) Tj ET Q q 0 0 0 rg BT 232.13 585.25 Td (NASDAQ, ) Tj ET Q q 0 0 0 rg BT 278.07 585.25 Td (assuming ) Tj ET Q q 0 0 0 rg BT 317.62 585.25 Td (retroactive ) Tj ET Q q 0 0 0 rg BT 362.13 585.25 Td (application ) Tj ET Q q 0 0 0 rg BT 408.33 585.25 Td (of ) Tj ET Q q 0 0 0 rg BT 418.43 585.25 Td (the ) Tj ET Q q 0 0 0 rg BT 432.42 585.25 Td (one-for) Tj ET Q q 0 0 0 rg BT 461.65 585.25 Td (-three ) Tj ET Q q 0 0 0 rg BT 486.73 585.25 Td (reverse ) Tj ET Q q 0 0 0 rg BT 517.37 585.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 540.24 585.25 Td (split ) Tj ET Q q 0 0 0 rg BT 559.24 585.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 562.75 512.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 535.75 421.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 535.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 535.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 507.75 421.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 507.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 507.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 479.75 421.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 479.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 479.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 451.75 421.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 451.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 451.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 423.75 421.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 423.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 423.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 395.75 421.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 395.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 395.75 46.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 549.75 m 516.5 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 535.75 m 516.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 549.75 m 562.5 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 535.75 m 562.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 535.75 m 516.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 535.75 m 562.5 535.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 553.48 Td (Summary ) Tj ET Q q 0 0 0 rg BT 97.72 553.48 Td (of ) Tj ET Q q 0 0 0 rg BT 108.55 553.48 Td (Shar) Tj ET Q q 0 0 0 rg BT 129.02 553.48 Td (e ) Tj ET Q q 0 0 0 rg BT 135.87 553.48 Td (Prices) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.90 540.43 Td (High) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.55 540.43 Td (Low) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 53 524.86259765625 m 73 524.86259765625 l s q 0 0 0 rg BT 53.00 526.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 512.43 Td (First Quarter \(through March 5, 2015\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.75 512.32 Td ($18.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.25 512.32 Td ($15.87) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 53 496.86259765625 m 73 496.86259765625 l s q 0 0 0 rg BT 53.00 498.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 484.43 Td (Fourth ) Tj ET Q q 0 0 0 rg BT 85.50 484.43 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.75 484.32 Td ($17.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.25 484.32 Td ($13.55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 470.43 Td (Third ) Tj ET Q q 0 0 0 rg BT 80.51 470.43 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.75 470.32 Td ($15.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.25 470.32 Td ($13.19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 456.43 Td (Second ) Tj ET Q q 0 0 0 rg BT 86.06 456.43 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.75 456.32 Td ($15.99) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.25 456.32 Td ($12.67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 442.43 Td (First ) Tj ET Q q 0 0 0 rg BT 76.05 442.43 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.75 442.32 Td ($14.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.25 442.32 Td ($11.84) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 53 426.86259765625 m 73 426.86259765625 l s q 0 0 0 rg BT 53.00 428.43 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 414.43 Td (Fourth ) Tj ET Q q 0 0 0 rg BT 85.50 414.43 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.75 414.32 Td ($14.72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.75 414.32 Td ($9.95) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 400.43 Td (Third ) Tj ET Q q 0 0 0 rg BT 80.51 400.43 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.75 400.32 Td ($10.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.75 400.32 Td ($8.61) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 386.43 Td (Second ) Tj ET Q q 0 0 0 rg BT 86.06 386.43 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.25 386.32 Td ($9.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.75 386.32 Td ($6.04) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 372.43 Td (First ) Tj ET Q q 0 0 0 rg BT 76.05 372.43 Td (Quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.25 372.32 Td ($6.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.75 372.32 Td ($5.80) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 344.25 Td (Since ) Tj ET Q q 0 0 0 rg BT 74.92 344.25 Td (our ) Tj ET Q q 0 0 0 rg BT 90.96 344.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 127.54 344.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 155.24 344.25 Td (began ) Tj ET Q q 0 0 0 rg BT 181.82 344.25 Td (trading ) Tj ET Q q 0 0 0 rg BT 212.86 344.25 Td (on ) Tj ET Q q 0 0 0 rg BT 225.56 344.25 Td (the ) Tj ET Q q 0 0 0 rg BT 240.49 344.25 Td (NASDAQ ) Tj ET Q q 0 0 0 rg BT 284.86 344.25 Td (on ) Tj ET Q q 0 0 0 rg BT 297.57 344.25 Td (February ) Tj ET Q q 0 0 0 rg BT 336.37 344.25 Td (12, ) Tj ET Q q 0 0 0 rg BT 351.58 344.25 Td (2013,) Tj ET Q BT /F2 10.00 Tf ET 1 1 1 rg /GS0 gs 374.08 351.02 2.71 -9.09 re f /GS0 gs q 0 0 0 rg BT 374.08 344.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 376.79 351.18 107.95 -9.09 re f /GS0 gs q 0 0 0 rg BT 376.79 344.25 Td (the ) Tj ET Q q 0 0 0 rg BT 391.71 344.25 Td (high ) Tj ET Q q 0 0 0 rg BT 412.19 344.25 Td (closing ) Tj ET Q q 0 0 0 rg BT 443.79 344.25 Td (price ) Tj ET Q q 0 0 0 rg BT 466.48 344.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 484.74 351.18 27.50 -9.09 re f /GS0 gs q 0 0 0 rg BT 484.74 344.25 Td ($18.10) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 512.24 351.18 52.27 -9.09 re f /GS0 gs q 0 0 0 rg BT 512.24 344.25 Td ( ) Tj ET Q q 0 0 0 rg BT 514.94 344.25 Td (and ) Tj ET Q q 0 0 0 rg BT 532.09 344.25 Td (the ) Tj ET Q q 0 0 0 rg BT 547.01 344.25 Td (low ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 50.00 339.18 99.42 -9.09 re f /GS0 gs q 0 0 0 rg BT 50.00 332.25 Td (closing ) Tj ET Q q 0 0 0 rg BT 81.39 332.25 Td (price ) Tj ET Q q 0 0 0 rg BT 103.87 332.25 Td (was ) Tj ET Q q 0 0 0 rg BT 121.92 332.25 Td ($5.85. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.42 332.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.25 Td (During ) Tj ET Q q 0 0 0 rg BT 79.96 308.25 Td (2013, ) Tj ET Q q 0 0 0 rg BT 104.09 308.25 Td (we ) Tj ET Q q 0 0 0 rg BT 117.38 308.25 Td (declared ) Tj ET Q q 0 0 0 rg BT 152.87 308.25 Td (and ) Tj ET Q q 0 0 0 rg BT 168.93 308.25 Td (paid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.78 308.25 Td ($2.1 ) Tj ET Q q 0 0 0 rg BT 206.91 308.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.80 308.25 Td ( ) Tj ET Q q 0 0 0 rg BT 237.43 308.25 Td (of ) Tj ET Q q 0 0 0 rg BT 247.39 308.25 Td (dividends ) Tj ET Q q 0 0 0 rg BT 287.90 308.25 Td (related ) Tj ET Q q 0 0 0 rg BT 316.73 308.25 Td (to ) Tj ET Q q 0 0 0 rg BT 326.14 308.25 Td (the ) Tj ET Q q 0 0 0 rg BT 339.98 308.25 Td (KAI ) Tj ET Q q 0 0 0 rg BT 359.38 308.25 Td (preferred ) Tj ET Q q 0 0 0 rg BT 397.65 308.25 Td (shares. ) Tj ET Q q 0 0 0 rg BT 426.77 308.25 Td ( ) Tj ET Q q 0 0 0 rg BT 428.04 308.25 Td (Also ) Tj ET Q q 0 0 0 rg BT 448.56 308.25 Td (during ) Tj ET Q q 0 0 0 rg BT 476.29 308.25 Td (2013, ) Tj ET Q q 0 0 0 rg BT 500.42 308.25 Td (we ) Tj ET Q q 0 0 0 rg BT 513.71 308.25 Td (repurchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 296.25 Td (18,000,000 ) Tj ET Q q 0 0 0 rg BT 96.72 296.25 Td (of ) Tj ET Q q 0 0 0 rg BT 106.76 296.25 Td (preferred ) Tj ET Q q 0 0 0 rg BT 145.11 296.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 171.82 296.25 Td (from ) Tj ET Q q 0 0 0 rg BT 192.98 296.25 Td (KAI ) Tj ET Q q 0 0 0 rg BT 212.47 296.25 Td (at ) Tj ET Q q 0 0 0 rg BT 221.40 296.25 Td (90% ) Tj ET Q q 0 0 0 rg BT 241.45 296.25 Td (of ) Tj ET Q q 0 0 0 rg BT 251.49 296.25 Td (face ) Tj ET Q q 0 0 0 rg BT 269.85 296.25 Td (value ) Tj ET Q q 0 0 0 rg BT 293.23 296.25 Td (and ) Tj ET Q q 0 0 0 rg BT 309.38 296.25 Td (paid ) Tj ET Q q 0 0 0 rg BT 328.31 296.25 Td (all ) Tj ET Q q 0 0 0 rg BT 340.02 296.25 Td (accrued ) Tj ET Q q 0 0 0 rg BT 372.82 296.25 Td (dividends ) Tj ET Q q 0 0 0 rg BT 413.43 296.25 Td (on ) Tj ET Q q 0 0 0 rg BT 425.14 296.25 Td (these ) Tj ET Q q 0 0 0 rg BT 447.41 296.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 474.11 296.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 495.27 296.25 Td (to ) Tj ET Q q 0 0 0 rg BT 504.76 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 518.70 296.25 Td (repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 284.25 Td (date ) Tj ET Q q 0 0 0 rg BT 70.38 284.25 Td (of ) Tj ET Q q 0 0 0 rg BT 81.62 284.25 Td (August ) Tj ET Q q 0 0 0 rg BT 114.24 284.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 125.47 284.25 Td (2013. ) Tj ET Q q 0 0 0 rg BT 151.43 284.25 Td (The ) Tj ET Q q 0 0 0 rg BT 170.71 284.25 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 218.87 284.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 252.59 284.25 Td (of ) Tj ET Q q 0 0 0 rg BT 264.65 284.25 Td (dividends ) Tj ET Q q 0 0 0 rg BT 307.27 284.25 Td (to ) Tj ET Q q 0 0 0 rg BT 318.77 284.25 Td (which ) Tj ET Q q 0 0 0 rg BT 346.94 284.25 Td (the ) Tj ET Q q 0 0 0 rg BT 362.89 284.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 407.16 284.25 Td (preferred ) Tj ET Q q 0 0 0 rg BT 447.53 284.25 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 497.90 284.25 Td (is ) Tj ET Q q 0 0 0 rg BT 508.30 284.25 Td (entitled ) Tj ET Q q 0 0 0 rg BT 542.02 284.25 Td (upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 272.25 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 95.83 272.25 Td (\(or ) Tj ET Q q 0 0 0 rg BT 109.99 272.25 Td (sooner) Tj ET Q q 0 0 0 rg BT 136.25 272.25 Td (, ) Tj ET Q q 0 0 0 rg BT 141.25 272.25 Td (if ) Tj ET Q q 0 0 0 rg BT 149.86 272.25 Td (we ) Tj ET Q q 0 0 0 rg BT 164.02 272.25 Td (declare ) Tj ET Q q 0 0 0 rg BT 195.38 272.25 Td (dividends\) ) Tj ET Q q 0 0 0 rg BT 240.10 272.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.15 272.25 Td ($184,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 272.25 Td ( ) Tj ET Q q 0 0 0 rg BT 298.15 272.25 Td (as ) Tj ET Q q 0 0 0 rg BT 308.98 272.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.81 272.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 378.39 272.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.39 272.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 248.25 Td (Due ) Tj ET Q q 0 0 0 rg BT 69.91 248.25 Td (to ) Tj ET Q q 0 0 0 rg BT 80.94 248.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 122.51 248.25 Td (regulations ) Tj ET Q q 0 0 0 rg BT 170.19 248.25 Td (there ) Tj ET Q q 0 0 0 rg BT 193.43 248.25 Td (are ) Tj ET Q q 0 0 0 rg BT 208.89 248.25 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 256.57 248.25 Td (on ) Tj ET Q q 0 0 0 rg BT 269.82 248.25 Td (our ) Tj ET Q q 0 0 0 rg BT 286.40 248.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 327.97 248.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 378.44 248.25 Td (that ) Tj ET Q q 0 0 0 rg BT 396.68 248.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 436.03 248.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 479.82 248.25 Td (limit ) Tj ET Q q 0 0 0 rg BT 501.96 248.25 Td (the ) Tj ET Q q 0 0 0 rg BT 517.43 248.25 Td (Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 78.44 236.25 Td (to ) Tj ET Q q 0 0 0 rg BT 89.11 236.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 106.43 236.25 Td (dividends. ) Tj ET Q q 0 0 0 rg BT 150.71 236.25 Td ( ) Tj ET Q q 0 0 0 rg BT 153.39 236.25 Td (W) Tj ET Q q 0 0 0 rg BT 162.03 236.25 Td (e ) Tj ET Q q 0 0 0 rg BT 169.35 236.25 Td (did ) Tj ET Q q 0 0 0 rg BT 185.02 236.25 Td (not ) Tj ET Q q 0 0 0 rg BT 200.69 236.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 218.01 236.25 Td (any ) Tj ET Q q 0 0 0 rg BT 235.34 236.25 Td (dividends ) Tj ET Q q 0 0 0 rg BT 277.11 236.25 Td (to ) Tj ET Q q 0 0 0 rg BT 287.78 236.25 Td (our ) Tj ET Q q 0 0 0 rg BT 304.00 236.25 Td (common ) Tj ET Q q 0 0 0 rg BT 341.88 236.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 395.31 236.25 Td (during ) Tj ET Q q 0 0 0 rg BT 424.30 236.25 Td (2013, ) Tj ET Q q 0 0 0 rg BT 449.69 236.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 472.58 236.25 Td (or ) Tj ET Q q 0 0 0 rg BT 483.80 236.25 Td (to ) Tj ET Q q 0 0 0 rg BT 494.46 236.25 Td (date ) Tj ET Q q 0 0 0 rg BT 514.01 236.25 Td (in ) Tj ET Q q 0 0 0 rg BT 524.67 236.25 Td (2015 ) Tj ET Q q 0 0 0 rg BT 547.56 236.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.25 Td (have ) Tj ET Q q 0 0 0 rg BT 71.38 224.25 Td (no ) Tj ET Q q 0 0 0 rg BT 83.88 224.25 Td (current ) Tj ET Q q 0 0 0 rg BT 114.69 224.25 Td (plans ) Tj ET Q q 0 0 0 rg BT 138.30 224.25 Td (to ) Tj ET Q q 0 0 0 rg BT 148.58 224.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 165.52 224.25 Td (dividends ) Tj ET Q q 0 0 0 rg BT 206.90 224.25 Td (to ) Tj ET Q q 0 0 0 rg BT 217.18 224.25 Td (our ) Tj ET Q q 0 0 0 rg BT 233.01 224.25 Td (common ) Tj ET Q q 0 0 0 rg BT 270.51 224.25 Td (shareholders.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.25 Td (During ) Tj ET Q q 0 0 0 rg BT 81.09 200.25 Td (the ) Tj ET Q q 0 0 0 rg BT 96.07 200.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 127.15 200.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.78 200.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 212.63 200.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.63 200.25 Td (, ) Tj ET Q q 0 0 0 rg BT 237.28 200.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 261.15 200.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 288.91 200.25 Td (1,191,409 ) Tj ET Q q 0 0 0 rg BT 331.67 200.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 368.31 200.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 396.06 200.25 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 433.26 200.25 Td (to ) Tj ET Q q 0 0 0 rg BT 443.80 200.25 Td (the ) Tj ET Q q 0 0 0 rg BT 458.78 200.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 499.30 200.25 Td (of ) Tj ET Q q 0 0 0 rg BT 510.39 200.25 Td (warrants ) Tj ET Q q 0 0 0 rg BT 547.58 200.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.25 Td (options ) Tj ET Q q 0 0 0 rg BT 82.91 188.25 Td (for ) Tj ET Q q 0 0 0 rg BT 98.03 188.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 140.35 188.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 161.57 188.25 Td (consideration ) Tj ET Q q 0 0 0 rg BT 218.90 188.25 Td (of ) Tj ET Q q 0 0 0 rg BT 230.69 188.25 Td ($6.4 ) Tj ET Q q 0 0 0 rg BT 251.65 188.25 Td (million. ) Tj ET Q q 0 0 0 rg BT 288.75 188.25 Td (These ) Tj ET Q q 0 0 0 rg BT 316.09 188.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 353.42 188.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 381.87 188.25 Td (were ) Tj ET Q q 0 0 0 rg BT 404.76 188.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 433.22 188.25 Td (in ) Tj ET Q q 0 0 0 rg BT 444.45 188.25 Td (reliance ) Tj ET Q q 0 0 0 rg BT 479.55 188.25 Td (on ) Tj ET Q q 0 0 0 rg BT 493.01 188.25 Td (exemptions ) Tj ET Q q 0 0 0 rg BT 542.57 188.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.25 Td (registration ) Tj ET Q q 0 0 0 rg BT 98.68 176.25 Td (under ) Tj ET Q q 0 0 0 rg BT 124.59 176.25 Td (Section ) Tj ET Q q 0 0 0 rg BT 157.72 176.25 Td (4\(2\) ) Tj ET Q q 0 0 0 rg BT 177.52 176.25 Td (of ) Tj ET Q q 0 0 0 rg BT 188.99 176.25 Td (the ) Tj ET Q q 0 0 0 rg BT 204.35 176.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 246.23 176.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 263.81 176.25 Td (of ) Tj ET Q q 0 0 0 rg BT 275.28 176.25 Td (1933, ) Tj ET Q q 0 0 0 rg BT 300.92 176.25 Td (as ) Tj ET Q q 0 0 0 rg BT 312.39 176.25 Td (amended ) Tj ET Q q 0 0 0 rg BT 351.62 176.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 370.31 176.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 416.63 176.25 Td (Act\), ) Tj ET Q q 0 0 0 rg BT 444.47 176.25 Td (and ) Tj ET Q q 0 0 0 rg BT 462.05 176.25 Td (the ) Tj ET Q q 0 0 0 rg BT 477.41 176.25 Td (rules ) Tj ET Q q 0 0 0 rg BT 499.99 176.25 Td (and ) Tj ET Q q 0 0 0 rg BT 517.56 176.25 Td (regulations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.25 Td (promulgated ) Tj ET Q q 0 0 0 rg BT 102.32 164.25 Td (thereunder) Tj ET Q q 0 0 0 rg BT 144.67 164.25 Td (, ) Tj ET Q q 0 0 0 rg BT 148.95 164.25 Td (and ) Tj ET Q q 0 0 0 rg BT 165.17 164.25 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 210.83 164.25 Td (S ) Tj ET Q q 0 0 0 rg BT 218.16 164.25 Td (promulgated ) Tj ET Q q 0 0 0 rg BT 270.48 164.25 Td (under ) Tj ET Q q 0 0 0 rg BT 295.03 164.25 Td (the ) Tj ET Q q 0 0 0 rg BT 309.02 164.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 349.84 164.25 Td (Act. ) Tj ET Q q 0 0 0 rg BT 371.06 164.25 Td (In ) Tj ET Q q 0 0 0 rg BT 381.17 164.25 Td (light ) Tj ET Q q 0 0 0 rg BT 401.28 164.25 Td (of ) Tj ET Q q 0 0 0 rg BT 411.39 164.25 Td (the ) Tj ET Q q 0 0 0 rg BT 425.38 164.25 Td (manner ) Tj ET Q q 0 0 0 rg BT 457.14 164.25 Td (of ) Tj ET Q q 0 0 0 rg BT 467.25 164.25 Td (the ) Tj ET Q q 0 0 0 rg BT 481.24 164.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 498.57 164.25 Td (and ) Tj ET Q q 0 0 0 rg BT 514.78 164.25 Td (information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.25 Td (obtained ) Tj ET Q q 0 0 0 rg BT 86.41 152.25 Td (by ) Tj ET Q q 0 0 0 rg BT 98.39 152.25 Td (the ) Tj ET Q q 0 0 0 rg BT 112.58 152.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 153.44 152.25 Td (from ) Tj ET Q q 0 0 0 rg BT 174.86 152.25 Td (the ) Tj ET Q q 0 0 0 rg BT 189.05 152.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 227.14 152.25 Td (in ) Tj ET Q q 0 0 0 rg BT 236.89 152.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 282.74 152.25 Td (with ) Tj ET Q q 0 0 0 rg BT 302.50 152.25 Td (these ) Tj ET Q q 0 0 0 rg BT 325.02 152.25 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 376.82 152.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 399.91 152.25 Td (believes ) Tj ET Q q 0 0 0 rg BT 434.65 152.25 Td (it ) Tj ET Q q 0 0 0 rg BT 442.18 152.25 Td (may ) Tj ET Q q 0 0 0 rg BT 461.37 152.25 Td (rely ) Tj ET Q q 0 0 0 rg BT 478.90 152.25 Td (on ) Tj ET Q q 0 0 0 rg BT 490.87 152.25 Td (these ) Tj ET Q q 0 0 0 rg BT 513.40 152.25 Td (exemptions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.25 Td (On ) Tj ET Q q 0 0 0 rg BT 65.30 128.25 Td (May ) Tj ET Q q 0 0 0 rg BT 86.70 128.25 Td (13, ) Tj ET Q q 0 0 0 rg BT 102.28 128.25 Td (2014, ) Tj ET Q q 0 0 0 rg BT 127.86 128.25 Td (an ) Tj ET Q q 0 0 0 rg BT 140.37 128.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 182.31 128.25 Td (of ) Tj ET Q q 0 0 0 rg BT 193.72 128.25 Td (2,000,000 ) Tj ET Q q 0 0 0 rg BT 236.11 128.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 260.30 128.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 297.25 128.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 325.32 128.25 Td (were ) Tj ET Q q 0 0 0 rg BT 347.82 128.25 Td (of) Tj ET Q q 0 0 0 rg BT 355.97 128.25 Td (fered ) Tj ET Q q 0 0 0 rg BT 379.58 128.25 Td (in ) Tj ET Q q 0 0 0 rg BT 390.44 128.25 Td (a ) Tj ET Q q 0 0 0 rg BT 397.95 128.25 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 445.47 128.25 Td (public ) Tj ET Q q 0 0 0 rg BT 473.54 128.25 Td (of) Tj ET Q q 0 0 0 rg BT 481.69 128.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 508.64 128.25 Td (in ) Tj ET Q q 0 0 0 rg BT 519.50 128.25 Td (the ) Tj ET Q q 0 0 0 rg BT 534.79 128.25 Td (United ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.25 Td (States ) Tj ET Q q 0 0 0 rg BT 78.78 116.25 Td (at ) Tj ET Q q 0 0 0 rg BT 90.88 116.25 Td (a ) Tj ET Q q 0 0 0 rg BT 100.21 116.25 Td (price ) Tj ET Q q 0 0 0 rg BT 125.09 116.25 Td (of ) Tj ET Q q 0 0 0 rg BT 138.31 116.25 Td ($12.50 ) Tj ET Q q 0 0 0 rg BT 170.70 116.25 Td (per ) Tj ET Q q 0 0 0 rg BT 188.35 116.25 Td (share. ) Tj ET Q q 0 0 0 rg BT 215.76 116.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 241.76 116.25 Td (also ) Tj ET Q q 0 0 0 rg BT 262.76 116.25 Td (granted ) Tj ET Q q 0 0 0 rg BT 297.63 116.25 Td (the ) Tj ET Q q 0 0 0 rg BT 314.74 116.25 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 370.17 116.25 Td (an ) Tj ET Q q 0 0 0 rg BT 384.50 116.25 Td (option ) Tj ET Q q 0 0 0 rg BT 414.94 116.25 Td (to ) Tj ET Q q 0 0 0 rg BT 427.61 116.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 468.04 116.25 Td (up ) Tj ET Q q 0 0 0 rg BT 482.93 116.25 Td (to ) Tj ET Q q 0 0 0 rg BT 495.59 116.25 Td (an ) Tj ET Q q 0 0 0 rg BT 509.92 116.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 553.67 116.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.25 Td (300,000additional ) Tj ET Q q 0 0 0 rg BT 127.52 104.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 155.05 104.25 Td (at ) Tj ET Q q 0 0 0 rg BT 164.80 104.25 Td (the ) Tj ET Q q 0 0 0 rg BT 179.55 104.25 Td (public ) Tj ET Q q 0 0 0 rg BT 207.08 104.25 Td (of) Tj ET Q q 0 0 0 rg BT 215.23 104.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 241.64 104.25 Td (price ) Tj ET Q q 0 0 0 rg BT 264.16 104.25 Td (of ) Tj ET Q q 0 0 0 rg BT 275.02 104.25 Td ($12.50 ) Tj ET Q q 0 0 0 rg BT 305.06 104.25 Td (per ) Tj ET Q q 0 0 0 rg BT 320.36 104.25 Td (share ) Tj ET Q q 0 0 0 rg BT 343.99 104.25 Td (to ) Tj ET Q q 0 0 0 rg BT 354.31 104.25 Td (cover ) Tj ET Q q 0 0 0 rg BT 379.05 104.25 Td (over) Tj ET Q q 0 0 0 rg BT 396.62 104.25 Td (-allotments, ) Tj ET Q q 0 0 0 rg BT 446.64 104.25 Td (if ) Tj ET Q q 0 0 0 rg BT 455.28 104.25 Td (any) Tj ET Q q 0 0 0 rg BT 469.07 104.25 Td (. ) Tj ET Q q 0 0 0 rg BT 474.11 104.25 Td (On ) Tj ET Q q 0 0 0 rg BT 488.86 104.25 Td (May ) Tj ET Q q 0 0 0 rg BT 509.73 104.25 Td (27, ) Tj ET Q q 0 0 0 rg BT 524.76 104.25 Td (2014, ) Tj ET Q q 0 0 0 rg BT 549.79 104.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.25 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 104.27 92.25 Td (exercised ) Tj ET Q q 0 0 0 rg BT 145.76 92.25 Td (this ) Tj ET Q q 0 0 0 rg BT 163.95 92.25 Td (option ) Tj ET Q q 0 0 0 rg BT 193.24 92.25 Td (and ) Tj ET Q q 0 0 0 rg BT 211.41 92.25 Td (purchased ) Tj ET Q q 0 0 0 rg BT 255.68 92.25 Td (an ) Tj ET Q q 0 0 0 rg BT 268.86 92.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 312.58 92.25 Td (161,000 ) Tj ET Q q 0 0 0 rg BT 348.82 92.25 Td (shares. ) Tj ET Q q 0 0 0 rg BT 379.22 92.25 Td (After ) Tj ET Q q 0 0 0 rg BT 404.05 92.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 459.44 92.25 Td (and ) Tj ET Q q 0 0 0 rg BT 477.62 92.25 Td (other ) Tj ET Q q 0 0 0 rg BT 501.90 92.25 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 544.23 92.25 Td (total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 80.25 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 87.76 80.25 Td (of ) Tj ET Q q 0 0 0 rg BT 98.32 80.25 Td ($25.0 ) Tj ET Q q 0 0 0 rg BT 123.04 80.25 Td (million ) Tj ET Q q 0 0 0 rg BT 154.16 80.25 Td (were ) Tj ET Q q 0 0 0 rg BT 175.82 80.25 Td (realized ) Tj ET Q q 0 0 0 rg BT 209.68 80.25 Td (on ) Tj ET Q q 0 0 0 rg BT 221.91 80.25 Td (the ) Tj ET Q q 0 0 0 rg BT 236.35 80.25 Td (issuance ) Tj ET Q q 0 0 0 rg BT 272.45 80.25 Td (of ) Tj ET Q q 0 0 0 rg BT 283.01 80.25 Td (the ) Tj ET Q q 0 0 0 rg BT 297.45 80.25 Td (shares. ) Tj ET Q q 0 0 0 rg BT 326.67 80.25 Td (A) Tj ET Q q 0 0 0 rg BT 333.34 80.25 Td ( ) Tj ET Q q 0 0 0 rg BT 335.57 80.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 366.68 80.25 Td (of ) Tj ET Q q 0 0 0 rg BT 377.24 80.25 Td (the ) Tj ET Q q 0 0 0 rg BT 391.68 80.25 Td (net ) Tj ET Q q 0 0 0 rg BT 406.12 80.25 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 443.89 80.25 Td (from ) Tj ET Q q 0 0 0 rg BT 465.55 80.25 Td (the ) Tj ET Q q 0 0 0 rg BT 479.99 80.25 Td (of) Tj ET Q q 0 0 0 rg BT 488.14 80.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 514.24 80.25 Td (will ) Tj ET Q q 0 0 0 rg BT 532.03 80.25 Td (be ) Tj ET Q q 0 0 0 rg BT 543.69 80.25 Td (used ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 68.25 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 68.25 Td (support ) Tj ET Q q 0 0 0 rg BT 92.78 68.25 Td (the ) Tj ET Q q 0 0 0 rg BT 107.50 68.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 153.88 68.25 Td (of ) Tj ET Q q 0 0 0 rg BT 164.16 68.25 Td (Anchor ) Tj ET Q q 0 0 0 rg BT 196.65 68.25 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 235.82 68.25 Td (Group, ) Tj ET Q q 0 0 0 rg BT 266.37 68.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 284.14 68.25 Td (and ) Tj ET Q q 0 0 0 rg BT 301.07 68.25 Td (its ) Tj ET Q q 0 0 0 rg BT 313.02 68.25 Td (af) Tj ET Q q 0 0 0 rg BT 320.61 68.25 Td (filiated ) Tj ET Q q 0 0 0 rg BT 351.43 68.25 Td (entities.) 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672.25 Td (that ) Tj ET Q q 0 0 0 rg BT 415.62 672.25 Td (may ) Tj ET Q q 0 0 0 rg BT 435.82 672.25 Td (include, ) Tj ET Q q 0 0 0 rg BT 471.29 672.25 Td (but ) Tj ET Q q 0 0 0 rg BT 487.61 672.25 Td (ar) Tj ET Q q 0 0 0 rg BT 496.13 672.25 Td (e ) Tj ET Q q 0 0 0 rg BT 504.10 672.25 Td (not ) Tj ET Q q 0 0 0 rg BT 520.42 672.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 551.73 672.25 Td (to, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 660.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 94.58 660.25 Td (with ) Tj ET Q q 0 0 0 rg BT 114.17 660.25 Td (r) Tj ET Q q 0 0 0 rg BT 117.69 660.25 Td (espect ) Tj ET Q q 0 0 0 rg BT 145.04 660.25 Td (to ) Tj ET Q q 0 0 0 rg BT 155.19 660.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 194.77 660.25 Td (of ) Tj ET Q q 0 0 0 rg BT 204.91 660.25 Td (futur) Tj ET Q q 0 0 0 rg BT 223.99 660.25 Td (e ) Tj ET Q q 0 0 0 rg BT 230.79 660.25 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 271.19 660.25 Td (r) Tj ET Q q 0 0 0 rg BT 274.71 660.25 Td (evenue ) Tj ET Q q 0 0 0 rg BT 304.83 660.25 Td (and ) Tj ET Q q 0 0 0 rg BT 322.20 660.25 Td (pr) Tj ET Q q 0 0 0 rg BT 330.72 660.25 Td (ofitability; ) Tj ET Q q 0 0 0 rg BT 375.30 660.25 Td (tr) Tj ET Q q 0 0 0 rg BT 381.60 660.25 Td (ends ) Tj ET Q q 0 0 0 rg BT 402.29 660.25 Td (affecting ) Tj ET Q q 0 0 0 rg BT 439.65 660.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 477.56 660.25 Td (condition, ) Tj ET Q q 0 0 0 rg BT 520.20 660.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 540.90 660.25 Td (flows ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 648.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.46 648.25 Td (r) Tj ET Q q 0 0 0 rg BT 69.98 648.25 Td (esults ) Tj ET Q q 0 0 0 rg BT 94.23 648.25 Td (of ) Tj ET Q q 0 0 0 rg BT 103.47 648.25 Td (operations; ) Tj ET Q q 0 0 0 rg BT 151.04 648.25 Td (the ) Tj ET Q q 0 0 0 rg BT 164.72 648.25 Td (availability ) Tj ET Q q 0 0 0 rg BT 211.73 648.25 Td (and ) Tj ET Q q 0 0 0 rg BT 228.20 648.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 251.88 648.25 Td (of ) Tj ET Q q 0 0 0 rg BT 261.12 648.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 303.70 648.25 Td (capital; ) Tj ET Q q 0 0 0 rg BT 336.27 648.25 Td (dependence ) Tj ET Q q 0 0 0 rg BT 384.92 648.25 Td (on ) Tj ET Q q 0 0 0 rg BT 396.39 648.25 Td (key ) Tj ET Q q 0 0 0 rg BT 411.17 648.25 Td (suppliers ) Tj ET Q q 0 0 0 rg BT 449.30 648.25 Td (and ) Tj ET Q q 0 0 0 rg BT 465.77 648.25 Td (other ) Tj ET Q q 0 0 0 rg BT 488.34 648.25 Td (strategic ) Tj ET Q q 0 0 0 rg BT 524.80 648.25 Td (partners; ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 636.25 Td (industry ) Tj ET Q q 0 0 0 rg BT 85.54 636.25 Td (tr) Tj ET Q q 0 0 0 rg BT 91.83 636.25 Td (ends ) Tj ET Q q 0 0 0 rg BT 112.92 636.25 Td (and ) Tj ET Q q 0 0 0 rg BT 130.68 636.25 Td (the ) Tj ET Q q 0 0 0 rg BT 145.66 636.25 Td (competitive ) Tj ET Q q 0 0 0 rg BT 194.50 636.25 Td (and ) Tj ET Q q 0 0 0 rg BT 212.26 636.25 Td (r) Tj ET Q q 0 0 0 rg BT 215.78 636.25 Td (egulatory ) Tj ET Q q 0 0 0 rg BT 256.86 636.25 Td (envir) Tj ET Q q 0 0 0 rg BT 277.04 636.25 Td (onment; ) Tj ET Q q 0 0 0 rg BT 312.57 636.25 Td (the ) Tj ET Q q 0 0 0 rg BT 327.54 636.25 Td (successful ) Tj ET Q q 0 0 0 rg BT 370.84 636.25 Td (integration ) Tj ET Q q 0 0 0 rg BT 418.05 636.25 Td (of ) Tj ET Q q 0 0 0 rg BT 428.58 636.25 Td (futur) Tj ET Q q 0 0 0 rg BT 447.66 636.25 Td (e ) Tj ET Q q 0 0 0 rg BT 454.86 636.25 Td (acquisitions; ) Tj ET Q q 0 0 0 rg BT 509.28 636.25 Td (the ) Tj ET Q q 0 0 0 rg BT 524.25 636.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 554.23 636.25 Td (of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 624.25 Td (losing ) Tj ET Q q 0 0 0 rg BT 76.65 624.25 Td (one ) Tj ET Q q 0 0 0 rg BT 93.29 624.25 Td (or ) Tj ET Q q 0 0 0 rg BT 104.38 624.25 Td (mor) Tj ET Q q 0 0 0 rg BT 120.12 624.25 Td (e ) Tj ET Q q 0 0 0 rg BT 126.76 624.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 153.96 624.25 Td (executives ) Tj ET Q q 0 0 0 rg BT 197.25 624.25 Td (or ) Tj ET Q q 0 0 0 rg BT 208.34 624.25 Td (failing ) Tj ET Q q 0 0 0 rg BT 236.65 624.25 Td (to ) Tj ET Q q 0 0 0 rg BT 246.63 624.25 Td (attract ) Tj ET Q q 0 0 0 rg BT 275.50 624.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 318.81 624.25 Td (key ) Tj ET Q q 0 0 0 rg BT 334.33 624.25 Td (personnel; ) Tj ET Q q 0 0 0 rg BT 379.30 624.25 Td (and ) Tj ET Q q 0 0 0 rg BT 396.50 624.25 Td (other ) Tj ET Q q 0 0 0 rg BT 419.81 624.25 Td (factors ) Tj ET Q q 0 0 0 rg BT 449.79 624.25 Td (r) Tj ET Q q 0 0 0 rg BT 453.31 624.25 Td (efer) Tj ET Q q 0 0 0 rg BT 468.49 624.25 Td (enced ) Tj ET Q q 0 0 0 rg BT 494.00 624.25 Td (in ) Tj ET Q q 0 0 0 rg BT 503.98 624.25 Td (this ) Tj ET Q q 0 0 0 rg BT 520.63 624.25 Td (document. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 612.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 69.04 612.25 Td (actual ) Tj ET Q q 0 0 0 rg BT 96.97 612.25 Td (r) Tj ET Q q 0 0 0 rg BT 100.49 612.25 Td (esults ) Tj ET Q q 0 0 0 rg BT 126.20 612.25 Td (could ) Tj ET Q q 0 0 0 rg BT 151.34 612.25 Td (differ ) Tj ET Q q 0 0 0 rg BT 175.94 612.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 219.97 612.25 Td (fr) Tj ET Q q 0 0 0 rg BT 226.27 612.25 Td (om ) Tj ET Q q 0 0 0 rg BT 241.42 612.25 Td (those ) Tj ET Q q 0 0 0 rg BT 265.46 612.25 Td (discussed ) Tj ET Q q 0 0 0 rg BT 306.72 612.25 Td (in ) Tj ET Q q 0 0 0 rg BT 317.43 612.25 Td (the ) Tj ET Q q 0 0 0 rg BT 332.57 612.25 Td (forwar) Tj ET Q q 0 0 0 rg BT 359.43 612.25 Td (d-looking ) Tj ET Q q 0 0 0 rg BT 400.69 612.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 448.33 612.25 Td (Forwar) Tj ET Q q 0 0 0 rg BT 478.53 612.25 Td (d-looking ) Tj ET Q q 0 0 0 rg BT 519.78 612.25 Td (statements ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 600.25 Td (contained ) Tj ET Q q 0 0 0 rg BT 91.86 600.25 Td (her) Tj ET Q q 0 0 0 rg BT 104.82 600.25 Td (ein ) Tj ET Q q 0 0 0 rg BT 119.46 600.25 Td (ar) Tj ET Q q 0 0 0 rg BT 127.98 600.25 Td (e ) Tj ET Q q 0 0 0 rg BT 134.84 600.25 Td (made ) Tj ET Q q 0 0 0 rg BT 158.92 600.25 Td (as ) Tj ET Q q 0 0 0 rg BT 170.24 600.25 Td (of ) Tj ET Q q 0 0 0 rg BT 180.44 600.25 Td (the ) Tj ET Q q 0 0 0 rg BT 195.08 600.25 Td (date ) Tj ET Q q 0 0 0 rg BT 214.72 600.25 Td (of ) Tj ET Q q 0 0 0 rg BT 224.92 600.25 Td (this ) Tj ET Q q 0 0 0 rg BT 241.79 600.25 Td (filing ) Tj ET Q q 0 0 0 rg BT 265.33 600.25 Td (and ) Tj ET Q q 0 0 0 rg BT 282.75 600.25 Td (we ) Tj ET Q q 0 0 0 rg BT 296.28 600.25 Td (disclaim ) Tj ET Q q 0 0 0 rg BT 332.59 600.25 Td (any ) Tj ET Q q 0 0 0 rg BT 349.46 600.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 392.99 600.25 Td (to ) Tj ET Q q 0 0 0 rg BT 403.19 600.25 Td (update ) Tj ET Q q 0 0 0 rg BT 432.83 600.25 Td (any ) Tj ET Q q 0 0 0 rg BT 449.70 600.25 Td (forwar) Tj ET Q q 0 0 0 rg BT 476.56 600.25 Td (d-looking ) Tj ET Q q 0 0 0 rg BT 517.30 600.25 Td (statements, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 588.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 85.39 588.25 Td (as ) Tj ET Q q 0 0 0 rg BT 97.45 588.25 Td (a ) Tj ET Q q 0 0 0 rg BT 105.62 588.25 Td (r) Tj ET Q q 0 0 0 rg BT 109.14 588.25 Td (esult ) Tj ET Q q 0 0 0 rg BT 131.20 588.25 Td (of ) Tj ET Q q 0 0 0 rg BT 142.15 588.25 Td (new ) Tj ET Q q 0 0 0 rg BT 161.43 588.25 Td (information, ) Tj ET Q q 0 0 0 rg BT 214.33 588.25 Td (futur) Tj ET Q q 0 0 0 rg BT 233.41 588.25 Td (e ) Tj ET Q q 0 0 0 rg BT 241.02 588.25 Td (events ) Tj ET Q q 0 0 0 rg BT 269.17 588.25 Td (or ) Tj ET Q q 0 0 0 rg BT 281.24 588.25 Td (r) Tj ET Q q 0 0 0 rg BT 284.76 588.25 Td (esults, ) Tj ET Q q 0 0 0 rg BT 313.21 588.25 Td (or ) Tj ET Q q 0 0 0 rg BT 325.27 588.25 Td (otherwise. ) Tj ET Q q 0 0 0 rg BT 369.83 588.25 Td (Factors ) Tj ET Q q 0 0 0 rg BT 404.11 588.25 Td (that ) Tj ET Q q 0 0 0 rg BT 422.83 588.25 Td (could ) Tj ET Q q 0 0 0 rg BT 448.22 588.25 Td (cause ) Tj ET Q q 0 0 0 rg BT 474.16 588.25 Td (or ) Tj ET Q q 0 0 0 rg BT 486.23 588.25 Td (contribute ) Tj ET Q q 0 0 0 rg BT 530.50 588.25 Td (to ) Tj ET Q q 0 0 0 rg BT 541.45 588.25 Td (these ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 576.25 Td (differ) Tj ET Q q 0 0 0 rg BT 71.29 576.25 Td (ences ) Tj ET Q q 0 0 0 rg BT 96.00 576.25 Td (include ) Tj ET Q q 0 0 0 rg BT 127.93 576.25 Td (those ) Tj ET Q q 0 0 0 rg BT 151.54 576.25 Td (discussed ) Tj ET Q q 0 0 0 rg BT 192.37 576.25 Td (below ) Tj ET Q q 0 0 0 rg BT 218.76 576.25 Td (and ) Tj ET Q q 0 0 0 rg BT 236.26 576.25 Td (elsewher) Tj ET Q q 0 0 0 rg BT 271.44 576.25 Td (e, ) Tj ET Q q 0 0 0 rg BT 280.87 576.25 Td (particularly ) Tj ET Q q 0 0 0 rg BT 331.15 576.25 Td (in ) Tj ET Q q 0 0 0 rg BT 341.43 576.25 Td (Risk ) Tj ET Q q 0 0 0 rg BT 366.70 576.25 Td (Factors.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 559.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.50 559.25 Td (this ) Tj ET Q q 0 0 0 rg BT 77.11 559.25 Td (discussion ) Tj ET Q q 0 0 0 rg BT 120.95 559.25 Td (and ) Tj ET Q q 0 0 0 rg BT 138.12 559.25 Td (analysis, ) Tj ET Q q 0 0 0 rg BT 175.57 559.25 Td (the ) Tj ET Q q 0 0 0 rg BT 189.95 559.25 Td (term ) Tj ET Q q 0 0 0 rg BT 210.45 559.25 Td (common ) Tj ET Q q 0 0 0 rg BT 252.06 559.25 Td (shar) Tj ET Q q 0 0 0 rg BT 269.47 559.25 Td (e ) Tj ET Q q 0 0 0 rg BT 281.64 559.25 Td (r) Tj ET Q q 0 0 0 rg BT 285.16 559.25 Td (efers ) Tj ET Q q 0 0 0 rg BT 306.77 559.25 Td (to ) Tj ET Q q 0 0 0 rg BT 316.71 559.25 Td (the ) Tj ET Q q 0 0 0 rg BT 331.10 559.25 Td (summation ) Tj ET Q q 0 0 0 rg BT 377.16 559.25 Td (of ) Tj ET Q q 0 0 0 rg BT 387.10 559.25 Td (r) Tj ET Q q 0 0 0 rg BT 390.63 559.25 Td (estricted ) Tj ET Q q 0 0 0 rg BT 427.23 559.25 Td (voting ) Tj ET Q q 0 0 0 rg BT 454.39 559.25 Td (shar) Tj ET Q q 0 0 0 rg BT 471.80 559.25 Td (es ) Tj ET Q q 0 0 0 rg BT 482.30 559.25 Td (and ) Tj ET Q q 0 0 0 rg BT 499.47 559.25 Td (or) Tj ET Q q 0 0 0 rg BT 507.99 559.25 Td (dinary ) Tj ET Q q 0 0 0 rg BT 536.26 559.25 Td (shar) Tj ET Q q 0 0 0 rg BT 553.68 559.25 Td (es ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 547.25 Td (when ) Tj ET Q q 0 0 0 rg BT 73.61 547.25 Td (used ) Tj ET Q q 0 0 0 rg BT 94.44 547.25 Td (to ) Tj ET Q q 0 0 0 rg BT 104.72 547.25 Td (describe ) Tj ET Q q 0 0 0 rg BT 141.09 547.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 159.16 547.25 Td (or ) Tj ET Q q 0 0 0 rg BT 170.55 547.25 Td (book ) Tj ET Q q 0 0 0 rg BT 192.49 547.25 Td (value ) Tj ET Q q 0 0 0 rg BT 216.64 547.25 Td (per ) Tj ET Q q 0 0 0 rg BT 232.47 547.25 Td (common ) Tj ET Q q 0 0 0 rg BT 268.85 547.25 Td (shar) Tj ET Q q 0 0 0 rg BT 286.26 547.25 Td (e.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 530.25 Td (Forward-looking ) Tj ET Q q 0 0 0 rg BT 125.28 530.25 Td (statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 513.25 Td (This ) Tj ET Q q 0 0 0 rg BT 70.45 513.25 Td (report ) Tj ET Q q 0 0 0 rg BT 97.00 513.25 Td (contains ) Tj ET Q q 0 0 0 rg BT 132.99 513.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 205.64 513.25 Td (statements, ) Tj ET Q q 0 0 0 rg BT 257.46 513.25 Td (within ) Tj ET Q q 0 0 0 rg BT 285.68 513.25 Td (the ) Tj ET Q q 0 0 0 rg BT 300.57 513.25 Td (meaning ) Tj ET Q q 0 0 0 rg BT 337.67 513.25 Td (of ) Tj ET Q q 0 0 0 rg BT 348.67 513.25 Td (the ) Tj ET Q q 0 0 0 rg BT 363.56 513.25 Td (Private ) Tj ET Q q 0 0 0 rg BT 394.55 513.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 436.66 513.25 Td (Litigation ) Tj ET Q q 0 0 0 rg BT 478.77 513.25 Td (Reform ) Tj ET Q q 0 0 0 rg BT 511.39 513.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 528.50 513.25 Td (of ) Tj ET Q q 0 0 0 rg BT 539.50 513.25 Td (1995, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 501.25 Td (which ) Tj ET Q q 0 0 0 rg BT 76.38 501.25 Td (may ) Tj ET Q q 0 0 0 rg BT 95.54 501.25 Td (include, ) Tj ET Q q 0 0 0 rg BT 129.41 501.25 Td (but ) Tj ET Q q 0 0 0 rg BT 144.13 501.25 Td (are ) Tj ET Q q 0 0 0 rg BT 158.28 501.25 Td (not ) Tj ET Q q 0 0 0 rg BT 173.00 501.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 203.27 501.25 Td (to, ) Tj ET Q q 0 0 0 rg BT 215.49 501.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 259.64 501.25 Td (with ) Tj ET Q q 0 0 0 rg BT 279.36 501.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 309.62 501.25 Td (to ) Tj ET Q q 0 0 0 rg BT 319.34 501.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 358.49 501.25 Td (of ) Tj ET Q q 0 0 0 rg BT 368.76 501.25 Td (future ) Tj ET Q q 0 0 0 rg BT 394.58 501.25 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 435.12 501.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 468.70 501.25 Td (and ) Tj ET Q q 0 0 0 rg BT 485.08 501.25 Td (profitability; ) Tj ET Q q 0 0 0 rg BT 537.57 501.25 Td (trends ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 489.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 489.25 Td (fecting ) Tj ET Q q 0 0 0 rg BT 87.04 489.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 123.71 489.25 Td (condition ) Tj ET Q q 0 0 0 rg BT 163.18 489.25 Td (and ) Tj ET Q q 0 0 0 rg BT 179.31 489.25 Td (results ) Tj ET Q q 0 0 0 rg BT 207.11 489.25 Td (of ) Tj ET Q q 0 0 0 rg BT 217.13 489.25 Td (operations; ) Tj ET Q q 0 0 0 rg BT 263.25 489.25 Td (the ) Tj ET Q q 0 0 0 rg BT 277.16 489.25 Td (availability ) Tj ET Q q 0 0 0 rg BT 323.84 489.25 Td (and ) Tj ET Q q 0 0 0 rg BT 339.97 489.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 363.87 489.25 Td (of ) Tj ET Q q 0 0 0 rg BT 373.89 489.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 415.58 489.25 Td (capital; ) Tj ET Q q 0 0 0 rg BT 446.70 489.25 Td (dependence ) Tj ET Q q 0 0 0 rg BT 495.58 489.25 Td (on ) Tj ET Q q 0 0 0 rg BT 507.27 489.25 Td (key ) Tj ET Q q 0 0 0 rg BT 523.40 489.25 Td (suppliers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 477.25 Td (and ) Tj ET Q q 0 0 0 rg BT 67.37 477.25 Td (other ) Tj ET Q q 0 0 0 rg BT 90.84 477.25 Td (strategic ) Tj ET Q q 0 0 0 rg BT 127.64 477.25 Td (partners; ) Tj ET Q q 0 0 0 rg BT 165.56 477.25 Td (industry ) Tj ET Q q 0 0 0 rg BT 201.26 477.25 Td (trends ) Tj ET Q q 0 0 0 rg BT 228.63 477.25 Td (and ) Tj ET Q q 0 0 0 rg BT 246.00 477.25 Td (the ) Tj ET Q q 0 0 0 rg BT 261.14 477.25 Td (competitive ) Tj ET Q q 0 0 0 rg BT 311.28 477.25 Td (and ) Tj ET Q q 0 0 0 rg BT 328.65 477.25 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 372.67 477.25 Td (environment; ) Tj ET Q q 0 0 0 rg BT 428.92 477.25 Td (the ) Tj ET Q q 0 0 0 rg BT 444.06 477.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 474.21 477.25 Td (of ) Tj ET Q q 0 0 0 rg BT 485.46 477.25 Td (losing ) Tj ET Q q 0 0 0 rg BT 512.84 477.25 Td (one ) Tj ET Q q 0 0 0 rg BT 530.21 477.25 Td (or ) Tj ET Q q 0 0 0 rg BT 541.47 477.25 Td (more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 465.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 76.94 465.25 Td (executives ) Tj ET Q q 0 0 0 rg BT 121.64 465.25 Td (or ) Tj ET Q q 0 0 0 rg BT 132.47 465.25 Td (failing ) Tj ET Q q 0 0 0 rg BT 161.07 465.25 Td (to ) Tj ET Q q 0 0 0 rg BT 171.35 465.25 Td (attract ) Tj ET Q q 0 0 0 rg BT 198.83 465.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 241.32 465.25 Td (key ) Tj ET Q q 0 0 0 rg BT 258.26 465.25 Td (personnel; ) Tj ET Q q 0 0 0 rg BT 302.42 465.25 Td (and ) Tj ET Q q 0 0 0 rg BT 319.36 465.25 Td (other ) Tj ET Q q 0 0 0 rg BT 342.40 465.25 Td (factors ) Tj ET Q q 0 0 0 rg BT 372.11 465.25 Td (referenced ) Tj ET Q q 0 0 0 rg BT 416.79 465.25 Td (in ) Tj ET Q q 0 0 0 rg BT 427.07 465.25 Td (this ) Tj ET Q q 0 0 0 rg BT 444.02 465.25 Td (report. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (Often, ) Tj ET Q q 0 0 0 rg BT 77.33 448.25 Td (but ) Tj ET Q q 0 0 0 rg BT 92.17 448.25 Td (not ) Tj ET Q q 0 0 0 rg BT 107.00 448.25 Td (always, ) Tj ET Q q 0 0 0 rg BT 139.33 448.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 206.93 448.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 251.20 448.25 Td (can ) Tj ET Q q 0 0 0 rg BT 267.14 448.25 Td (be ) Tj ET Q q 0 0 0 rg BT 278.63 448.25 Td (identified ) Tj ET Q q 0 0 0 rg BT 319.01 448.25 Td (by ) Tj ET Q q 0 0 0 rg BT 331.07 448.25 Td (the ) Tj ET Q q 0 0 0 rg BT 345.35 448.25 Td (use ) Tj ET Q q 0 0 0 rg BT 360.74 448.25 Td (of ) Tj ET Q q 0 0 0 rg BT 371.13 448.25 Td (words ) Tj ET Q q 0 0 0 rg BT 397.63 448.25 Td (such ) Tj ET Q q 0 0 0 rg BT 418.02 448.25 Td (as ) Tj ET Q q 0 0 0 rg BT 428.41 448.25 Td (plans, ) Tj ET Q q 0 0 0 rg BT 462.96 448.25 Td (expects, ) Tj ET Q q 0 0 0 rg BT 506.38 448.25 Td (is ) Tj ET Q q 0 0 0 rg BT 519.55 448.25 Td (expected, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (budget, ) Tj ET Q q 0 0 0 rg BT 89.98 436.25 Td (scheduled, ) Tj ET Q q 0 0 0 rg BT 142.73 436.25 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 192.71 436.25 Td (forecasts, ) Tj ET Q q 0 0 0 rg BT 241.02 436.25 Td (intends, ) Tj ET Q q 0 0 0 rg BT 282.67 436.25 Td (anticipates, ) Tj ET Q q 0 0 0 rg BT 338.19 436.25 Td (or ) Tj ET Q q 0 0 0 rg BT 347.91 436.25 Td (believes ) Tj ET Q q 0 0 0 rg BT 390.94 436.25 Td (or ) Tj ET Q q 0 0 0 rg BT 400.66 436.25 Td (variations ) Tj ET Q q 0 0 0 rg BT 441.48 436.25 Td (\(including ) Tj ET Q q 0 0 0 rg BT 483.98 436.25 Td (negative ) Tj ET Q q 0 0 0 rg BT 519.24 436.25 Td (variations\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (of ) Tj ET Q q 0 0 0 rg BT 61.19 424.25 Td (such ) Tj ET Q q 0 0 0 rg BT 82.38 424.25 Td (words ) Tj ET Q q 0 0 0 rg BT 109.68 424.25 Td (and ) Tj ET Q q 0 0 0 rg BT 126.98 424.25 Td (phrases, ) Tj ET Q q 0 0 0 rg BT 162.33 424.25 Td (or ) Tj ET Q q 0 0 0 rg BT 173.52 424.25 Td (state ) Tj ET Q q 0 0 0 rg BT 194.70 424.25 Td (that ) Tj ET Q q 0 0 0 rg BT 212.55 424.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 242.61 424.25 Td (actions, ) Tj ET Q q 0 0 0 rg BT 276.30 424.25 Td (events ) Tj ET Q q 0 0 0 rg BT 304.70 424.25 Td (or ) Tj ET Q q 0 0 0 rg BT 315.89 424.25 Td (results ) Tj ET Q q 0 0 0 rg BT 344.86 424.25 Td (may, ) Tj ET Q q 0 0 0 rg BT 376.31 424.25 Td (could, ) Tj ET Q q 0 0 0 rg BT 412.77 424.25 Td (would, ) Tj ET Q q 0 0 0 rg BT 452.00 424.25 Td (might ) Tj ET Q q 0 0 0 rg BT 487.07 424.25 Td (or ) Tj ET Q q 0 0 0 rg BT 498.26 424.25 Td (will ) Tj ET Q q 0 0 0 rg BT 525.55 424.25 Td (be ) Tj ET Q q 0 0 0 rg BT 537.85 424.25 Td (taken, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (occur ) Tj ET Q q 0 0 0 rg BT 74.63 412.25 Td (or ) Tj ET Q q 0 0 0 rg BT 85.39 412.25 Td (be ) Tj ET Q q 0 0 0 rg BT 97.25 412.25 Td (achieved. ) Tj ET Q q 0 0 0 rg BT 137.71 412.25 Td (Forward-looking ) Tj ET Q q 0 0 0 rg BT 207.91 412.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 252.54 412.25 Td (involve ) Tj ET Q q 0 0 0 rg BT 284.96 412.25 Td (known ) Tj ET Q q 0 0 0 rg BT 314.61 412.25 Td (and ) Tj ET Q q 0 0 0 rg BT 331.48 412.25 Td (unknown ) Tj ET Q q 0 0 0 rg BT 371.12 412.25 Td (risks, ) Tj ET Q q 0 0 0 rg BT 394.94 412.25 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 448.46 412.25 Td (and ) Tj ET Q q 0 0 0 rg BT 465.32 412.25 Td (other ) Tj ET Q q 0 0 0 rg BT 488.29 412.25 Td (factors ) Tj ET Q q 0 0 0 rg BT 517.92 412.25 Td (which ) Tj ET Q q 0 0 0 rg BT 544.79 412.25 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (cause ) Tj ET Q q 0 0 0 rg BT 74.75 400.25 Td (the ) Tj ET Q q 0 0 0 rg BT 89.51 400.25 Td (actual ) Tj ET Q q 0 0 0 rg BT 115.92 400.25 Td (results, ) Tj ET Q q 0 0 0 rg BT 147.07 400.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 200.13 400.25 Td (or ) Tj ET Q q 0 0 0 rg BT 211.01 400.25 Td (achievements ) Tj ET Q q 0 0 0 rg BT 267.97 400.25 Td (of ) Tj ET Q q 0 0 0 rg BT 278.28 400.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 301.93 400.25 Td (to ) Tj ET Q q 0 0 0 rg BT 312.25 400.25 Td (be ) Tj ET Q q 0 0 0 rg BT 324.23 400.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 367.31 400.25 Td (dif) Tj ET Q q 0 0 0 rg BT 378.23 400.25 Td (ferent ) Tj ET Q q 0 0 0 rg BT 404.09 400.25 Td (from ) Tj ET Q q 0 0 0 rg BT 426.07 400.25 Td (any ) Tj ET Q q 0 0 0 rg BT 443.05 400.25 Td (future ) Tj ET Q q 0 0 0 rg BT 469.47 400.25 Td (results, ) Tj ET Q q 0 0 0 rg BT 500.62 400.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 553.68 400.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (achievements ) Tj ET Q q 0 0 0 rg BT 107.83 388.25 Td (expressed ) Tj ET Q q 0 0 0 rg BT 150.66 388.25 Td (or ) Tj ET Q q 0 0 0 rg BT 162.40 388.25 Td (implied ) Tj ET Q q 0 0 0 rg BT 196.36 388.25 Td (by ) Tj ET Q q 0 0 0 rg BT 209.77 388.25 Td (the ) Tj ET Q q 0 0 0 rg BT 225.39 388.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 294.33 388.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 342.45 388.25 Td (Such ) Tj ET Q q 0 0 0 rg BT 365.86 388.25 Td (factors ) Tj ET Q q 0 0 0 rg BT 396.47 388.25 Td (include, ) Tj ET Q q 0 0 0 rg BT 431.82 388.25 Td (among ) Tj ET Q q 0 0 0 rg BT 462.44 388.25 Td (others, ) Tj ET Q q 0 0 0 rg BT 492.79 388.25 Td (general ) Tj ET Q q 0 0 0 rg BT 525.62 388.25 Td (business, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td (economic, ) Tj ET Q q 0 0 0 rg BT 93.87 376.25 Td (competitive, ) Tj ET Q q 0 0 0 rg BT 146.08 376.25 Td (political, ) Tj ET Q q 0 0 0 rg BT 183.85 376.25 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 227.44 376.25 Td (and ) Tj ET Q q 0 0 0 rg BT 244.38 376.25 Td (social ) Tj ET Q q 0 0 0 rg BT 270.21 376.25 Td (uncertainties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.25 Td (Although ) Tj ET Q q 0 0 0 rg BT 90.01 359.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 113.98 359.25 Td (has ) Tj ET Q q 0 0 0 rg BT 130.18 359.25 Td (attempted ) Tj ET Q q 0 0 0 rg BT 172.47 359.25 Td (to ) Tj ET Q q 0 0 0 rg BT 183.12 359.25 Td (identify ) Tj ET Q q 0 0 0 rg BT 217.09 359.25 Td (important ) Tj ET Q q 0 0 0 rg BT 258.83 359.25 Td (factors ) Tj ET Q q 0 0 0 rg BT 288.91 359.25 Td (that ) Tj ET Q q 0 0 0 rg BT 306.77 359.25 Td (could ) Tj ET Q q 0 0 0 rg BT 331.85 359.25 Td (cause ) Tj ET Q q 0 0 0 rg BT 356.92 359.25 Td (actual ) Tj ET Q q 0 0 0 rg BT 383.66 359.25 Td (actions, ) Tj ET Q q 0 0 0 rg BT 417.35 359.25 Td (events ) Tj ET Q q 0 0 0 rg BT 445.76 359.25 Td (or ) Tj ET Q q 0 0 0 rg BT 456.96 359.25 Td (results ) Tj ET Q q 0 0 0 rg BT 485.93 359.25 Td (to ) Tj ET Q q 0 0 0 rg BT 496.57 359.25 Td (dif) Tj ET Q q 0 0 0 rg BT 507.50 359.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 521.46 359.25 Td (materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.25 Td (from ) Tj ET Q q 0 0 0 rg BT 71.73 347.25 Td (those ) Tj ET Q q 0 0 0 rg BT 95.12 347.25 Td (described ) Tj ET Q q 0 0 0 rg BT 135.73 347.25 Td (in ) Tj ET Q q 0 0 0 rg BT 145.79 347.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 213.62 347.25 Td (statements, ) Tj ET Q q 0 0 0 rg BT 260.62 347.25 Td (there ) Tj ET Q q 0 0 0 rg BT 282.89 347.25 Td (may ) Tj ET Q q 0 0 0 rg BT 302.39 347.25 Td (be ) Tj ET Q q 0 0 0 rg BT 314.12 347.25 Td (other ) Tj ET Q q 0 0 0 rg BT 336.95 347.25 Td (factors ) Tj ET Q q 0 0 0 rg BT 366.45 347.25 Td (that ) Tj ET Q q 0 0 0 rg BT 383.73 347.25 Td (cause ) Tj ET Q q 0 0 0 rg BT 408.23 347.25 Td (actions, ) Tj ET Q q 0 0 0 rg BT 441.34 347.25 Td (events ) Tj ET Q q 0 0 0 rg BT 469.17 347.25 Td (or ) Tj ET Q q 0 0 0 rg BT 479.79 347.25 Td (results ) Tj ET Q q 0 0 0 rg BT 508.19 347.25 Td (to ) Tj ET Q q 0 0 0 rg BT 518.25 347.25 Td (dif) Tj ET Q q 0 0 0 rg BT 529.18 347.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 542.57 347.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.25 Td (those ) Tj ET Q q 0 0 0 rg BT 73.70 335.25 Td (anticipated, ) Tj ET Q q 0 0 0 rg BT 122.66 335.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 163.57 335.25 Td (or ) Tj ET Q q 0 0 0 rg BT 174.49 335.25 Td (intended. ) Tj ET Q q 0 0 0 rg BT 214.01 335.25 Td (Forward-looking ) Tj ET Q q 0 0 0 rg BT 284.37 335.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 329.17 335.25 Td (contained ) Tj ET Q q 0 0 0 rg BT 370.63 335.25 Td (herein ) Tj ET Q q 0 0 0 rg BT 398.21 335.25 Td (are ) Tj ET Q q 0 0 0 rg BT 413.01 335.25 Td (made ) Tj ET Q q 0 0 0 rg BT 437.25 335.25 Td (as ) Tj ET Q q 0 0 0 rg BT 448.17 335.25 Td (of ) Tj ET Q q 0 0 0 rg BT 459.09 335.25 Td (the ) Tj ET Q q 0 0 0 rg BT 473.90 335.25 Td (date ) Tj ET Q q 0 0 0 rg BT 493.15 335.25 Td (of ) Tj ET Q q 0 0 0 rg BT 504.07 335.25 Td (this ) Tj ET Q q 0 0 0 rg BT 521.11 335.25 Td (report ) Tj ET Q q 0 0 0 rg BT 547.57 335.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.91 323.25 Td (disclaims ) Tj ET Q q 0 0 0 rg BT 114.49 323.25 Td (any ) Tj ET Q q 0 0 0 rg BT 131.74 323.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 175.09 323.25 Td (to ) Tj ET Q q 0 0 0 rg BT 185.68 323.25 Td (update ) Tj ET Q q 0 0 0 rg BT 215.14 323.25 Td (any ) Tj ET Q q 0 0 0 rg BT 232.38 323.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 300.72 323.25 Td (statements, ) Tj ET Q q 0 0 0 rg BT 348.24 323.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 383.25 323.25 Td (as ) Tj ET Q q 0 0 0 rg BT 394.39 323.25 Td (a ) Tj ET Q q 0 0 0 rg BT 401.63 323.25 Td (result ) Tj ET Q q 0 0 0 rg BT 426.65 323.25 Td (of ) Tj ET Q q 0 0 0 rg BT 437.79 323.25 Td (new ) Tj ET Q q 0 0 0 rg BT 457.25 323.25 Td (information, ) Tj ET Q q 0 0 0 rg BT 509.77 323.25 Td (future ) Tj ET Q q 0 0 0 rg BT 536.45 323.25 Td (events ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.25 Td (or ) Tj ET Q q 0 0 0 rg BT 60.49 311.25 Td (results, ) Tj ET Q q 0 0 0 rg BT 91.26 311.25 Td (or ) Tj ET Q q 0 0 0 rg BT 101.75 311.25 Td (otherwise. ) Tj ET Q q 0 0 0 rg BT 145.13 311.25 Td (There ) Tj ET Q q 0 0 0 rg BT 170.60 311.25 Td (can ) Tj ET Q q 0 0 0 rg BT 186.64 311.25 Td (be ) Tj ET Q q 0 0 0 rg BT 198.24 311.25 Td (no ) Tj ET Q q 0 0 0 rg BT 210.40 311.25 Td (assurance ) Tj ET Q q 0 0 0 rg BT 251.42 311.25 Td (that ) Tj ET Q q 0 0 0 rg BT 268.58 311.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 336.28 311.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 380.65 311.25 Td (will ) Tj ET Q q 0 0 0 rg BT 398.36 311.25 Td (prove ) Tj ET Q q 0 0 0 rg BT 423.29 311.25 Td (to ) Tj ET Q q 0 0 0 rg BT 433.23 311.25 Td (be ) Tj ET Q q 0 0 0 rg BT 444.83 311.25 Td (accurate, ) Tj ET Q q 0 0 0 rg BT 482.79 311.25 Td (as ) Tj ET Q q 0 0 0 rg BT 493.28 311.25 Td (actual ) Tj ET Q q 0 0 0 rg BT 519.31 311.25 Td (results ) Tj ET Q q 0 0 0 rg BT 547.58 311.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.25 Td (future ) Tj ET Q q 0 0 0 rg BT 75.38 299.25 Td (events ) Tj ET Q q 0 0 0 rg BT 102.43 299.25 Td (could ) Tj ET Q q 0 0 0 rg BT 126.15 299.25 Td (dif) Tj ET Q q 0 0 0 rg BT 137.08 299.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 149.68 299.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 191.72 299.25 Td (from ) Tj ET Q q 0 0 0 rg BT 212.67 299.25 Td (those ) Tj ET Q q 0 0 0 rg BT 235.28 299.25 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 280.65 299.25 Td (in ) Tj ET Q q 0 0 0 rg BT 289.93 299.25 Td (such ) Tj ET Q q 0 0 0 rg BT 309.77 299.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 355.65 299.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 404.99 299.25 Td (, ) Tj ET Q q 0 0 0 rg BT 408.99 299.25 Td (readers ) Tj ET Q q 0 0 0 rg BT 439.36 299.25 Td (should ) Tj ET Q q 0 0 0 rg BT 467.53 299.25 Td (not ) Tj ET Q q 0 0 0 rg BT 481.82 299.25 Td (place ) Tj ET Q q 0 0 0 rg BT 504.41 299.25 Td (undue ) Tj ET Q q 0 0 0 rg BT 530.36 299.25 Td (reliance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.25 Td (on ) Tj ET Q q 0 0 0 rg BT 62.50 287.25 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 130.54 287.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 175.25 287.25 Td (due ) Tj ET Q q 0 0 0 rg BT 192.19 287.25 Td (to ) Tj ET Q q 0 0 0 rg BT 202.47 287.25 Td (the ) Tj ET Q q 0 0 0 rg BT 217.18 287.25 Td (inherent ) Tj ET Q q 0 0 0 rg BT 252.45 287.25 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 299.93 287.25 Td (in ) Tj ET Q q 0 0 0 rg BT 310.21 287.25 Td (them. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 270.25 Td (I. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 58.8916015625 268.68505859375 m 115.12451171875 268.68505859375 l s q 0 0 0 rg BT 58.89 270.25 Td (OVER) Tj ET Q q 0 0 0 rg BT 87.43 270.25 Td (VIEW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 253.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 253.25 Td (e ) Tj ET Q q 0 0 0 rg BT 66.96 253.25 Td (are ) Tj ET Q q 0 0 0 rg BT 83.05 253.25 Td (a ) Tj ET Q q 0 0 0 rg BT 91.37 253.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 130.24 253.25 Td (services ) Tj ET Q q 0 0 0 rg BT 166.33 253.25 Td (holding ) Tj ET Q q 0 0 0 rg BT 200.77 253.25 Td (company ) Tj ET Q q 0 0 0 rg BT 241.31 253.25 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 295.72 253.25 Td (under ) Tj ET Q q 0 0 0 rg BT 322.38 253.25 Td (the ) Tj ET Q q 0 0 0 rg BT 338.48 253.25 Td (laws ) Tj ET Q q 0 0 0 rg BT 360.69 253.25 Td (of ) Tj ET Q q 0 0 0 rg BT 372.90 253.25 Td (the ) Tj ET Q q 0 0 0 rg BT 389.00 253.25 Td (Cayman ) Tj ET Q q 0 0 0 rg BT 426.21 253.25 Td (Islands. ) Tj ET Q q 0 0 0 rg BT 460.93 253.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 480.36 253.25 Td (core ) Tj ET Q q 0 0 0 rg BT 501.45 253.25 Td (business ) Tj ET Q q 0 0 0 rg BT 539.23 253.25 Td (is ) Tj ET Q q 0 0 0 rg BT 549.78 253.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 241.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 103.46 241.25 Td (of ) Tj ET Q q 0 0 0 rg BT 113.59 241.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 162.59 241.25 Td (automobile ) Tj ET Q q 0 0 0 rg BT 209.38 241.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 249.50 241.25 Td (policies, ) Tj ET Q q 0 0 0 rg BT 284.90 241.25 Td (focusing ) Tj ET Q q 0 0 0 rg BT 321.14 241.25 Td (on ) Tj ET Q q 0 0 0 rg BT 332.94 241.25 Td (the ) Tj ET Q q 0 0 0 rg BT 346.96 241.25 Td (light ) Tj ET Q q 0 0 0 rg BT 375.98 241.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 424.98 241.25 Td (automobile ) Tj ET Q q 0 0 0 rg BT 471.77 241.25 Td (sector) Tj ET Q q 0 0 0 rg BT 495.24 241.25 Td (, ) Tj ET Q q 0 0 0 rg BT 499.55 241.25 Td (which ) Tj ET Q q 0 0 0 rg BT 525.79 241.25 Td (is ) Tj ET Q q 0 0 0 rg BT 534.26 241.25 Td (carried ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.25 Td (out ) Tj ET Q q 0 0 0 rg BT 64.98 229.25 Td (through ) Tj ET Q q 0 0 0 rg BT 98.29 229.25 Td (our ) Tj ET Q q 0 0 0 rg BT 113.82 229.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 154.34 229.25 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 206.10 229.25 Td (This ) Tj ET Q q 0 0 0 rg BT 226.08 229.25 Td (sector ) Tj ET Q q 0 0 0 rg BT 252.16 229.25 Td (includes ) Tj ET Q q 0 0 0 rg BT 287.69 229.25 Td (taxi ) Tj ET Q q 0 0 0 rg BT 304.88 229.25 Td (cabs, ) Tj ET Q q 0 0 0 rg BT 327.36 229.25 Td (non-emer) Tj ET Q q 0 0 0 rg BT 365.49 229.25 Td (gency ) Tj ET Q q 0 0 0 rg BT 391.57 229.25 Td (para-transit, ) Tj ET Q q 0 0 0 rg BT 441.80 229.25 Td (limousine, ) Tj ET Q q 0 0 0 rg BT 485.95 229.25 Td (livery ) Tj ET Q q 0 0 0 rg BT 511.48 229.25 Td (and ) Tj ET Q q 0 0 0 rg BT 528.12 229.25 Td (business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.25 Td (auto. ) Tj ET Q q 0 0 0 rg BT 72.16 217.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 90.15 217.25 Td (goal ) Tj ET Q q 0 0 0 rg BT 109.81 217.25 Td (is ) Tj ET Q q 0 0 0 rg BT 118.92 217.25 Td (to ) Tj ET Q q 0 0 0 rg BT 129.14 217.25 Td (always ) Tj ET Q q 0 0 0 rg BT 159.34 217.25 Td (be ) Tj ET Q q 0 0 0 rg BT 171.22 217.25 Td (the ) Tj ET Q q 0 0 0 rg BT 185.88 217.25 Td (preferred ) Tj ET Q q 0 0 0 rg BT 224.96 217.25 Td (specialty ) Tj ET Q q 0 0 0 rg BT 262.94 217.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 312.58 217.25 Td (transportation ) Tj ET Q q 0 0 0 rg BT 370.56 217.25 Td (insurer ) Tj ET Q q 0 0 0 rg BT 400.77 217.25 Td (in ) Tj ET Q q 0 0 0 rg BT 410.99 217.25 Td (any ) Tj ET Q q 0 0 0 rg BT 427.87 217.25 Td (geographic ) Tj ET Q q 0 0 0 rg BT 474.73 217.25 Td (areas ) Tj ET Q q 0 0 0 rg BT 497.71 217.25 Td (where ) Tj ET Q q 0 0 0 rg BT 524.58 217.25 Td (our ) Tj ET Q q 0 0 0 rg BT 540.35 217.25 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.25 Td (proposition ) Tj ET Q q 0 0 0 rg BT 97.65 205.25 Td (delivers ) Tj ET Q q 0 0 0 rg BT 131.39 205.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 161.25 205.25 Td (to ) Tj ET Q q 0 0 0 rg BT 171.11 205.25 Td (all ) Tj ET Q q 0 0 0 rg BT 183.20 205.25 Td (stakeholders. ) Tj ET Q q 0 0 0 rg BT 237.62 205.25 Td (W) Tj ET Q q 0 0 0 rg BT 246.26 205.25 Td (e ) Tj ET Q q 0 0 0 rg BT 252.79 205.25 Td (are ) Tj ET Q q 0 0 0 rg BT 267.09 205.25 Td (licensed ) Tj ET Q q 0 0 0 rg BT 301.94 205.25 Td (to ) Tj ET Q q 0 0 0 rg BT 311.81 205.25 Td (write ) Tj ET Q q 0 0 0 rg BT 334.44 205.25 Td (property ) Tj ET Q q 0 0 0 rg BT 370.41 205.25 Td (and ) Tj ET Q q 0 0 0 rg BT 386.94 205.25 Td (casualty) Tj ET Q q 0 0 0 rg BT 419.05 205.25 Td (, ) Tj ET Q q 0 0 0 rg BT 423.64 205.25 Td (or ) Tj ET Q q 0 0 0 rg BT 434.06 205.25 Td (P&C, ) Tj ET Q q 0 0 0 rg BT 458.66 205.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 499.07 205.25 Td (in ) Tj ET Q q 0 0 0 rg BT 508.94 205.25 Td (49 ) Tj ET Q q 0 0 0 rg BT 521.03 205.25 Td (states ) Tj ET Q q 0 0 0 rg BT 545.33 205.25 Td (plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.25 Td (the ) Tj ET Q q 0 0 0 rg BT 63.96 193.25 Td (District ) Tj ET Q q 0 0 0 rg BT 95.70 193.25 Td (of ) Tj ET Q q 0 0 0 rg BT 105.78 193.25 Td (Columbia ) Tj ET Q q 0 0 0 rg BT 146.97 193.25 Td (in ) Tj ET Q q 0 0 0 rg BT 156.49 193.25 Td (the ) Tj ET Q q 0 0 0 rg BT 170.45 193.25 Td (United ) Tj ET Q q 0 0 0 rg BT 199.42 193.25 Td (States. ) Tj ET Q q 0 0 0 rg BT 227.42 193.25 Td (The ) Tj ET Q q 0 0 0 rg BT 244.72 193.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 284.78 193.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 333.74 193.25 Td (distribute ) Tj ET Q q 0 0 0 rg BT 373.26 193.25 Td (their ) Tj ET Q q 0 0 0 rg BT 393.33 193.25 Td (products ) Tj ET Q q 0 0 0 rg BT 429.51 193.25 Td (through ) Tj ET Q q 0 0 0 rg BT 462.37 193.25 Td (a ) Tj ET Q q 0 0 0 rg BT 468.55 193.25 Td (network ) Tj ET Q q 0 0 0 rg BT 503.06 193.25 Td (of ) Tj ET Q q 0 0 0 rg BT 513.14 193.25 Td (independent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.25 Td (retail ) Tj ET Q q 0 0 0 rg BT 73.04 181.25 Td (agents, ) Tj ET Q q 0 0 0 rg BT 103.59 181.25 Td (and ) Tj ET Q q 0 0 0 rg BT 120.53 181.25 Td (actively ) Tj ET Q q 0 0 0 rg BT 154.68 181.25 Td (wrote ) Tj ET Q q 0 0 0 rg BT 179.95 181.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 220.76 181.25 Td (in ) Tj ET Q q 0 0 0 rg BT 231.04 181.25 Td (40 ) Tj ET Q q 0 0 0 rg BT 243.54 181.25 Td (states ) Tj ET Q q 0 0 0 rg BT 268.26 181.25 Td (and ) Tj ET Q q 0 0 0 rg BT 285.20 181.25 Td (the ) Tj ET Q q 0 0 0 rg BT 299.91 181.25 Td (District ) Tj ET Q q 0 0 0 rg BT 332.41 181.25 Td (of ) Tj ET Q q 0 0 0 rg BT 343.24 181.25 Td (Columbia ) Tj ET Q q 0 0 0 rg BT 385.18 181.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.79 181.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.79 181.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.20 164.25 Td (core ) Tj ET Q q 0 0 0 rg BT 86.05 164.25 Td (business ) Tj ET Q q 0 0 0 rg BT 121.59 164.25 Td (is ) Tj ET Q q 0 0 0 rg BT 129.90 164.25 Td (the ) Tj ET Q q 0 0 0 rg BT 143.76 164.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 197.07 164.25 Td (of ) Tj ET Q q 0 0 0 rg BT 207.04 164.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 255.88 164.25 Td (automobile ) Tj ET Q q 0 0 0 rg BT 302.52 164.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 342.48 164.25 Td (policies, ) Tj ET Q q 0 0 0 rg BT 377.73 164.25 Td (focusing ) Tj ET Q q 0 0 0 rg BT 413.81 164.25 Td (on ) Tj ET Q q 0 0 0 rg BT 425.46 164.25 Td (the ) Tj ET Q q 0 0 0 rg BT 439.32 164.25 Td (light ) Tj ET Q q 0 0 0 rg BT 468.18 164.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 517.02 164.25 Td (automobile ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.25 Td (sector) Tj ET Q q 0 0 0 rg BT 73.33 152.25 Td (. ) Tj ET Q q 0 0 0 rg BT 78.41 152.25 Td (Over ) Tj ET Q q 0 0 0 rg BT 100.99 152.25 Td (the ) Tj ET Q q 0 0 0 rg BT 115.79 152.25 Td (past ) Tj ET Q q 0 0 0 rg BT 134.48 152.25 Td (four ) Tj ET Q q 0 0 0 rg BT 153.73 152.25 Td (years, ) Tj ET Q q 0 0 0 rg BT 179.91 152.25 Td (we ) Tj ET Q q 0 0 0 rg BT 194.16 152.25 Td (have ) Tj ET Q q 0 0 0 rg BT 215.62 152.25 Td (disposed ) Tj ET Q q 0 0 0 rg BT 253.21 152.25 Td (of ) Tj ET Q q 0 0 0 rg BT 264.12 152.25 Td (non-core ) Tj ET Q q 0 0 0 rg BT 302.24 152.25 Td (assets, ) Tj ET Q q 0 0 0 rg BT 330.66 152.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 383.79 152.25 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 440.23 152.25 Td (and ) Tj ET Q q 0 0 0 rg BT 457.26 152.25 Td (placed ) Tj ET Q q 0 0 0 rg BT 485.94 152.25 Td (into ) Tj ET Q q 0 0 0 rg BT 504.08 152.25 Td (run-of) Tj ET Q q 0 0 0 rg BT 528.89 152.25 Td (f ) Tj ET Q q 0 0 0 rg BT 534.80 152.25 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.25 Td (non-core ) Tj ET Q q 0 0 0 rg BT 89.30 140.25 Td (lines ) Tj ET Q q 0 0 0 rg BT 111.96 140.25 Td (of ) Tj ET Q q 0 0 0 rg BT 124.06 140.25 Td (business ) Tj ET Q q 0 0 0 rg BT 161.72 140.25 Td (previously ) Tj ET Q q 0 0 0 rg BT 207.70 140.25 Td (written ) Tj ET Q q 0 0 0 rg BT 239.79 140.25 Td (by ) Tj ET Q q 0 0 0 rg BT 253.56 140.25 Td (the ) Tj ET Q q 0 0 0 rg BT 269.54 140.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 311.63 140.25 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 365.11 140.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 384.43 140.25 Td (focus ) Tj ET Q q 0 0 0 rg BT 409.86 140.25 Td (going ) Tj ET Q q 0 0 0 rg BT 436.41 140.25 Td (forward ) Tj ET Q q 0 0 0 rg BT 471.82 140.25 Td (is ) Tj ET Q q 0 0 0 rg BT 482.26 140.25 Td (the ) Tj ET Q q 0 0 0 rg BT 498.25 140.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 553.67 140.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 99.28 128.25 Td (automobile ) Tj ET Q q 0 0 0 rg BT 146.36 128.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 186.77 128.25 Td (in ) Tj ET Q q 0 0 0 rg BT 196.63 128.25 Td (the ) Tj ET Q q 0 0 0 rg BT 210.94 128.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 230.81 128.25 Td (Substantially ) Tj ET Q q 0 0 0 rg BT 285.11 128.25 Td (all ) Tj ET Q q 0 0 0 rg BT 297.20 128.25 Td (of ) Tj ET Q q 0 0 0 rg BT 307.61 128.25 Td (our ) Tj ET Q q 0 0 0 rg BT 323.03 128.25 Td (new ) Tj ET Q q 0 0 0 rg BT 341.78 128.25 Td (premiums ) Tj ET Q q 0 0 0 rg BT 383.86 128.25 Td (written ) Tj ET Q q 0 0 0 rg BT 414.27 128.25 Td (are ) Tj ET Q q 0 0 0 rg BT 428.57 128.25 Td (in ) Tj ET Q q 0 0 0 rg BT 438.44 128.25 Td (light ) Tj ET Q q 0 0 0 rg BT 467.73 128.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 517.02 128.25 Td (automobile ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.25 Td (lines ) Tj ET Q q 0 0 0 rg BT 71.39 116.25 Td (of ) Tj ET Q q 0 0 0 rg BT 82.22 116.25 Td (business.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 92.25 Td (Commer) Tj ET Q q 0 0 0 rg BT 87.58 92.25 Td (cial ) Tj ET Q q 0 0 0 rg BT 104.52 92.25 Td (Automobile) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 68.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.92 68.25 Td (primary ) Tj ET Q q 0 0 0 rg BT 101.94 68.25 Td (tar) Tj ET Q q 0 0 0 rg BT 112.30 68.25 Td (get ) Tj ET Q q 0 0 0 rg BT 126.89 68.25 Td (market ) Tj ET Q q 0 0 0 rg BT 157.02 68.25 Td (is ) Tj ET Q q 0 0 0 rg BT 166.05 68.25 Td (made ) Tj ET Q q 0 0 0 rg BT 190.07 68.25 Td (up ) Tj ET Q q 0 0 0 rg BT 202.44 68.25 Td (of ) Tj ET Q q 0 0 0 rg BT 213.13 68.25 Td (small ) Tj ET Q q 0 0 0 rg BT 237.17 68.25 Td (to ) Tj ET Q q 0 0 0 rg BT 247.31 68.25 Td (mid-size ) Tj ET Q q 0 0 0 rg BT 284.11 68.25 Td (taxi, ) Tj ET Q q 0 0 0 rg BT 303.97 68.25 Td (limousine ) Tj ET Q q 0 0 0 rg BT 345.78 68.25 Td (and ) Tj ET Q q 0 0 0 rg BT 362.58 68.25 Td (non-emer) Tj ET Q q 0 0 0 rg BT 400.72 68.25 Td (gency ) Tj ET Q q 0 0 0 rg BT 426.96 68.25 Td (para-transit ) Tj ET Q q 0 0 0 rg BT 474.86 68.25 Td (operators.) Tj ET Q q 0 0 0 rg BT 516.88 68.25 Td (The ) Tj ET Q q 0 0 0 rg BT 534.80 68.25 Td (light ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 56.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 99.06 56.25 Td (automobile ) Tj ET Q q 0 0 0 rg BT 145.91 56.25 Td (policies ) Tj ET Q q 0 0 0 rg BT 178.88 56.25 Td (we ) Tj ET Q q 0 0 0 rg BT 192.40 56.25 Td (underwrite ) Tj ET Q q 0 0 0 rg BT 237.58 56.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 269.98 56.25 Td (coverage ) Tj ET Q q 0 0 0 rg BT 307.93 56.25 Td (for ) Tj ET Q q 0 0 0 rg BT 321.45 56.25 Td (lightweight ) Tj ET Q q 0 0 0 rg BT 368.87 56.25 Td (commercial ) Tj ET Q q 0 0 0 rg BT 417.92 56.25 Td (vehicles ) Tj ET Q q 0 0 0 rg BT 452.55 56.25 Td (typically ) Tj ET Q q 0 0 0 rg BT 489.40 56.25 Td (with ) Tj ET Q q 0 0 0 rg BT 509.04 56.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.12 56.25 Td (minimum ) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 75.12 742.10 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 119.09 742.10 Td (by ) Tj ET Q q 0 0 0 rg BT 131.43 742.10 Td (statute, ) Tj ET Q q 0 0 0 rg BT 162.36 742.10 Td (municipal ) Tj ET Q q 0 0 0 rg BT 204.69 742.10 Td (or ) Tj ET Q q 0 0 0 rg BT 215.35 742.10 Td (other ) Tj ET Q q 0 0 0 rg BT 238.23 742.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 281.66 742.10 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 338.52 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 356.40 742.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 392.62 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 403.28 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 418.94 742.10 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 475.71 742.10 Td (are ) Tj ET Q q 0 0 0 rg BT 490.25 742.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 533.14 742.10 Td (owners ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.99 730.10 Td (small ) Tj ET Q q 0 0 0 rg BT 85.31 730.10 Td (fleet ) Tj ET Q q 0 0 0 rg BT 105.73 730.10 Td (operators. ) Tj ET Q q 0 0 0 rg BT 148.10 730.10 Td (In ) Tj ET Q q 0 0 0 rg BT 159.08 730.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 188.94 730.10 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 241.05 730.10 Td (like ) Tj ET Q q 0 0 0 rg BT 258.70 730.10 Td (Illinois, ) Tj ET Q q 0 0 0 rg BT 292.19 730.10 Td (Nevada ) Tj ET Q q 0 0 0 rg BT 325.39 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 342.48 730.10 Td (New ) Tj ET Q q 0 0 0 rg BT 363.63 730.10 Td (Y) Tj ET Q q 0 0 0 rg BT 369.85 730.10 Td (ork, ) Tj ET Q q 0 0 0 rg BT 388.34 730.10 Td (we ) Tj ET Q q 0 0 0 rg BT 402.65 730.10 Td (have ) Tj ET Q q 0 0 0 rg BT 424.19 730.10 Td (also ) Tj ET Q q 0 0 0 rg BT 442.95 730.10 Td (been ) Tj ET Q q 0 0 0 rg BT 464.49 730.10 Td (successful ) Tj ET Q q 0 0 0 rg BT 508.25 730.10 Td (working ) Tj ET Q q 0 0 0 rg BT 544.23 730.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (lar) Tj ET Q q 0 0 0 rg BT 60.37 718.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 75.38 718.10 Td (operators ) Tj ET Q q 0 0 0 rg BT 114.83 718.10 Td (who ) Tj ET Q q 0 0 0 rg BT 134.29 718.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 159.30 718.10 Td (a ) Tj ET Q q 0 0 0 rg BT 165.98 718.10 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 213.77 718.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 246.01 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 256.58 718.10 Td (their ) Tj ET Q q 0 0 0 rg BT 277.15 718.10 Td (own ) Tj ET Q q 0 0 0 rg BT 296.62 718.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 313.86 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 324.43 718.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 342.24 718.10 Td (through ) Tj ET Q q 0 0 0 rg BT 375.59 718.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 403.38 718.10 Td (retentions, ) Tj ET Q q 0 0 0 rg BT 447.56 718.10 Td (self-insurance ) Tj ET Q q 0 0 0 rg BT 505.89 718.10 Td (or ) Tj ET Q q 0 0 0 rg BT 516.46 718.10 Td (self-funded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (captive ) Tj ET Q q 0 0 0 rg BT 81.81 706.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 123.06 706.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 148.77 706.10 Td (arrangements. ) Tj ET Q q 0 0 0 rg BT 210.57 706.10 Td (In ) Tj ET Q q 0 0 0 rg BT 221.83 706.10 Td (these ) Tj ET Q q 0 0 0 rg BT 245.32 706.10 Td (cases, ) Tj ET Q q 0 0 0 rg BT 271.85 706.10 Td (we ) Tj ET Q q 0 0 0 rg BT 286.45 706.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 319.93 706.10 Td (support ) Tj ET Q q 0 0 0 rg BT 352.87 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 363.58 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.73 706.10 Td (areas ) Tj ET Q q 0 0 0 rg BT 402.21 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 413.47 706.10 Td (day ) Tj ET Q q 0 0 0 rg BT 430.85 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 441.56 706.10 Td (day ) Tj ET Q q 0 0 0 rg BT 458.94 706.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 486.87 706.10 Td (administration ) Tj ET Q q 0 0 0 rg BT 547.57 706.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 78.31 694.10 Td (handling ) Tj ET Q q 0 0 0 rg BT 115.52 694.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 157.72 694.10 Td (with ) Tj ET Q q 0 0 0 rg BT 177.71 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 192.13 694.10 Td (value ) Tj ET Q q 0 0 0 rg BT 216.00 694.10 Td (proposition ) Tj ET Q q 0 0 0 rg BT 263.76 694.10 Td (we ) Tj ET Q q 0 0 0 rg BT 277.63 694.10 Td (of) Tj ET Q q 0 0 0 rg BT 285.78 694.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 299.09 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 309.07 694.10 Td (all ) Tj ET Q q 0 0 0 rg BT 321.28 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 331.81 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 347.35 694.10 Td (insureds, ) Tj ET Q q 0 0 0 rg BT 385.39 694.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 424.80 694.10 Td (on ) Tj ET Q q 0 0 0 rg BT 437.01 694.10 Td (a ) Tj ET Q q 0 0 0 rg BT 443.66 694.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 458.07 694.10 Td (for ) Tj ET Q q 0 0 0 rg BT 471.94 694.10 Td (service ) Tj ET Q q 0 0 0 rg BT 502.47 694.10 Td (basis. ) Tj ET Q q 0 0 0 rg BT 529.51 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 538.15 694.10 Td (e ) Tj ET Q q 0 0 0 rg BT 544.80 694.10 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (also ) Tj ET Q q 0 0 0 rg BT 68.69 682.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 101.81 682.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 130.49 682.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 169.15 682.10 Td (above ) Tj ET Q q 0 0 0 rg BT 195.61 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 210.40 682.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 236.30 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 247.21 682.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 264.79 682.10 Td (retained ) Tj ET Q q 0 0 0 rg BT 299.57 682.10 Td (by ) Tj ET Q q 0 0 0 rg BT 312.15 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.94 682.10 Td (insureds ) Tj ET Q q 0 0 0 rg BT 362.85 682.10 Td (where ) Tj ET Q q 0 0 0 rg BT 389.86 682.10 Td (a ) Tj ET Q q 0 0 0 rg BT 396.88 682.10 Td (better ) Tj ET Q q 0 0 0 rg BT 422.22 682.10 Td (than ) Tj ET Q q 0 0 0 rg BT 442.01 682.10 Td (average ) Tj ET Q q 0 0 0 rg BT 475.67 682.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 493.81 682.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 514.72 682.10 Td (is ) Tj ET Q q 0 0 0 rg BT 523.96 682.10 Td (expected. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Through ) Tj ET Q q 0 0 0 rg BT 86.93 670.10 Td (these ) Tj ET Q q 0 0 0 rg BT 109.97 670.10 Td (arrangements, ) Tj ET Q q 0 0 0 rg BT 168.83 670.10 Td (we ) Tj ET Q q 0 0 0 rg BT 182.98 670.10 Td (are ) Tj ET Q q 0 0 0 rg BT 197.69 670.10 Td (able ) Tj ET Q q 0 0 0 rg BT 216.83 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 227.11 670.10 Td (ef) Tj ET Q q 0 0 0 rg BT 234.70 670.10 Td (fectively ) Tj ET Q q 0 0 0 rg BT 272.17 670.10 Td (utilize ) Tj ET Q q 0 0 0 rg BT 299.65 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 314.37 670.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 359.07 670.10 Td (specialized ) Tj ET Q q 0 0 0 rg BT 405.98 670.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 446.24 670.10 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 502.60 670.10 Td (we ) Tj ET Q q 0 0 0 rg BT 516.75 670.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 554.24 670.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (generate ) Tj ET Q q 0 0 0 rg BT 86.36 658.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 120.51 658.10 Td (from ) Tj ET Q q 0 0 0 rg BT 142.45 658.10 Td (business ) Tj ET Q q 0 0 0 rg BT 178.84 658.10 Td (segments ) Tj ET Q q 0 0 0 rg BT 218.55 658.10 Td (that ) Tj ET Q q 0 0 0 rg BT 236.05 658.10 Td (may ) Tj ET Q q 0 0 0 rg BT 255.77 658.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 297.14 658.10 Td (be ) Tj ET Q q 0 0 0 rg BT 309.08 658.10 Td (more ) Tj ET Q q 0 0 0 rg BT 332.13 658.10 Td (price ) Tj ET Q q 0 0 0 rg BT 354.61 658.10 Td (sensitive ) Tj ET Q q 0 0 0 rg BT 392.11 658.10 Td (in ) Tj ET Q q 0 0 0 rg BT 402.39 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 417.10 658.10 Td (current ) Tj ET Q q 0 0 0 rg BT 447.92 658.10 Td (market ) Tj ET Q q 0 0 0 rg BT 478.18 658.10 Td (environment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.84 634.10 Td (light ) Tj ET Q q 0 0 0 rg BT 99.34 634.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 149.83 634.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 198.12 634.10 Td (sector ) Tj ET Q q 0 0 0 rg BT 225.29 634.10 Td (is ) Tj ET Q q 0 0 0 rg BT 235.25 634.10 Td (a ) Tj ET Q q 0 0 0 rg BT 242.98 634.10 Td (subset ) Tj ET Q q 0 0 0 rg BT 271.27 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.89 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 298.40 634.10 Td (historically ) Tj ET Q q 0 0 0 rg BT 346.69 634.10 Td (profitable ) Tj ET Q q 0 0 0 rg BT 388.85 634.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 439.34 634.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 487.62 634.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 529.23 634.10 Td (industry ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (segment. ) Tj ET Q q 0 0 0 rg BT 88.55 622.10 Td (Commercial ) Tj ET Q q 0 0 0 rg BT 140.70 622.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 188.41 622.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 229.44 622.10 Td (has ) Tj ET Q q 0 0 0 rg BT 245.50 622.10 Td (outperformed ) Tj ET Q q 0 0 0 rg BT 302.64 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 317.58 622.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 348.06 622.10 Td (P&C ) Tj ET Q q 0 0 0 rg BT 370.79 622.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 406.29 622.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 446.22 622.10 Td (over ) Tj ET Q q 0 0 0 rg BT 466.71 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 481.65 622.10 Td (past ) Tj ET Q q 0 0 0 rg BT 500.47 622.10 Td (ten ) Tj ET Q q 0 0 0 rg BT 515.41 622.10 Td (years ) Tj ET Q q 0 0 0 rg BT 539.23 622.10 Td (based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (on ) Tj ET Q q 0 0 0 rg BT 61.43 610.10 Td (data ) Tj ET Q q 0 0 0 rg BT 79.51 610.10 Td (compiled ) Tj ET Q q 0 0 0 rg BT 118.14 610.10 Td (by ) Tj ET Q q 0 0 0 rg BT 129.57 610.10 Td (SNL) Tj ET Q q 0 0 0 rg BT 148.09 610.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.52 610.10 Td (Financial. ) Tj ET Q q 0 0 0 rg BT 190.55 610.10 Td (The ) Tj ET Q q 0 0 0 rg BT 207.52 610.10 Td (data ) Tj ET Q q 0 0 0 rg BT 225.60 610.10 Td (compiled ) Tj ET Q q 0 0 0 rg BT 264.24 610.10 Td (by ) Tj ET Q q 0 0 0 rg BT 275.67 610.10 Td (SNL) Tj ET Q q 0 0 0 rg BT 294.19 610.10 Td ( ) Tj ET Q q 0 0 0 rg BT 295.61 610.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 334.25 610.10 Td (also ) Tj ET Q q 0 0 0 rg BT 351.79 610.10 Td (indicates ) Tj ET Q q 0 0 0 rg BT 388.75 610.10 Td (that ) Tj ET Q q 0 0 0 rg BT 405.18 610.10 Td (for ) Tj ET Q q 0 0 0 rg BT 418.26 610.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 439.69 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 453.33 610.10 Td (total ) Tj ET Q q 0 0 0 rg BT 472.53 610.10 Td (market ) Tj ET Q q 0 0 0 rg BT 501.72 610.10 Td (for ) Tj ET Q q 0 0 0 rg BT 514.80 610.10 Td (commercial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 97.97 598.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 132.06 598.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 173.35 598.10 Td (was ) Tj ET Q q 0 0 0 rg BT 191.88 598.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 252.62 598.10 Td ($24 ) Tj ET Q q 0 0 0 rg BT 270.60 598.10 Td (billion. ) Tj ET Q q 0 0 0 rg BT 301.97 598.10 Td (The ) Tj ET Q q 0 0 0 rg BT 320.50 598.10 Td (size ) Tj ET Q q 0 0 0 rg BT 339.02 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 350.33 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 365.53 598.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 415.70 598.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 463.67 598.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 504.97 598.10 Td (market ) Tj ET Q q 0 0 0 rg BT 535.71 598.10 Td (can ) Tj ET Q q 0 0 0 rg BT 552.56 598.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 586.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 83.78 586.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 135.53 586.10 Td (by ) Tj ET Q q 0 0 0 rg BT 147.29 586.10 Td (many ) Tj ET Q q 0 0 0 rg BT 171.28 586.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 202.75 586.10 Td (such ) Tj ET Q q 0 0 0 rg BT 222.84 586.10 Td (as ) Tj ET Q q 0 0 0 rg BT 232.94 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 246.92 586.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 300.34 586.10 Td (capacity ) Tj ET Q q 0 0 0 rg BT 335.41 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 351.61 586.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 405.03 586.10 Td (criteria ) Tj ET Q q 0 0 0 rg BT 435.11 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 445.20 586.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 491.96 586.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 532.04 586.10 Td (carriers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.59 574.10 Td (general ) Tj ET Q q 0 0 0 rg BT 98.17 574.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 139.19 574.10 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 185.51 574.10 Td (Historically) Tj ET Q q 0 0 0 rg BT 232.08 574.10 Td (, ) Tj ET Q q 0 0 0 rg BT 236.73 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 251.10 574.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 300.45 574.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 347.59 574.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 388.06 574.10 Td (market ) Tj ET Q q 0 0 0 rg BT 417.98 574.10 Td (has ) Tj ET Q q 0 0 0 rg BT 433.46 574.10 Td (been ) Tj ET Q q 0 0 0 rg BT 454.49 574.10 Td (characterized ) Tj ET Q q 0 0 0 rg BT 509.93 574.10 Td (by ) Tj ET Q q 0 0 0 rg BT 522.08 574.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 553.68 574.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 78.30 562.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 132.16 562.10 Td (capacity ) Tj ET Q q 0 0 0 rg BT 167.68 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 184.32 562.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 224.27 562.10 Td (price ) Tj ET Q q 0 0 0 rg BT 246.46 562.10 Td (competition ) Tj ET Q q 0 0 0 rg BT 296.44 562.10 Td (followed ) Tj ET Q q 0 0 0 rg BT 334.19 562.10 Td (by ) Tj ET Q q 0 0 0 rg BT 346.39 562.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 378.03 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 388.57 562.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 422.42 562.10 Td (capacity ) Tj ET Q q 0 0 0 rg BT 457.93 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 474.57 562.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 502.32 562.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 540.63 562.10 Td (rates. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 533.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 533.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.59 533.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 96.98 533.10 Td (that ) Tj ET Q q 0 0 0 rg BT 114.48 533.10 Td (there ) Tj ET Q q 0 0 0 rg BT 136.98 533.10 Td (is ) Tj ET Q q 0 0 0 rg BT 146.17 533.10 Td (a ) Tj ET Q q 0 0 0 rg BT 153.12 533.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 187.30 533.10 Td (correlation ) Tj ET Q q 0 0 0 rg BT 233.12 533.10 Td (between ) Tj ET Q q 0 0 0 rg BT 268.95 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 283.68 533.10 Td (economy ) Tj ET Q q 0 0 0 rg BT 322.85 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 339.80 533.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 389.51 533.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 437.02 533.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 477.85 533.10 Td (in ) Tj ET Q q 0 0 0 rg BT 488.14 533.10 Td (general. ) Tj ET Q q 0 0 0 rg BT 522.58 533.10 Td (Operators ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.76 521.10 Td (light ) Tj ET Q q 0 0 0 rg BT 90.39 521.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 140.02 521.10 Td (automobiles ) Tj ET Q q 0 0 0 rg BT 191.32 521.10 Td (may ) Tj ET Q q 0 0 0 rg BT 210.97 521.10 Td (be ) Tj ET Q q 0 0 0 rg BT 222.83 521.10 Td (less ) Tj ET Q q 0 0 0 rg BT 240.26 521.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 265.46 521.10 Td (than ) Tj ET Q q 0 0 0 rg BT 285.10 521.10 Td (other ) Tj ET Q q 0 0 0 rg BT 308.07 521.10 Td (business ) Tj ET Q q 0 0 0 rg BT 344.39 521.10 Td (segments ) Tj ET Q q 0 0 0 rg BT 384.03 521.10 Td (within ) Tj ET Q q 0 0 0 rg BT 412.01 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 426.66 521.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 476.28 521.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 523.70 521.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 509.10 Td (market ) Tj ET Q q 0 0 0 rg BT 80.85 509.10 Td (to ) Tj ET Q q 0 0 0 rg BT 91.72 509.10 Td (take ) Tj ET Q q 0 0 0 rg BT 111.47 509.10 Td (vehicles ) Tj ET Q q 0 0 0 rg BT 147.32 509.10 Td (out ) Tj ET Q q 0 0 0 rg BT 163.19 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 174.61 509.10 Td (service ) Tj ET Q q 0 0 0 rg BT 206.01 509.10 Td (as ) Tj ET Q q 0 0 0 rg BT 217.43 509.10 Td (their ) Tj ET Q q 0 0 0 rg BT 238.85 509.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 284.16 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 301.69 509.10 Td (business ) Tj ET Q q 0 0 0 rg BT 338.67 509.10 Td (reputations ) Tj ET Q q 0 0 0 rg BT 386.19 509.10 Td (rely ) Tj ET Q q 0 0 0 rg BT 404.83 509.10 Td (heavily ) Tj ET Q q 0 0 0 rg BT 437.35 509.10 Td (on ) Tj ET Q q 0 0 0 rg BT 450.44 509.10 Td (availability) Tj ET Q q 0 0 0 rg BT 494.78 509.10 Td (. ) Tj ET Q q 0 0 0 rg BT 500.15 509.10 Td (W) Tj ET Q q 0 0 0 rg BT 509.18 509.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 522.83 509.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 554.24 509.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 497.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 80.09 497.10 Td (business ) Tj ET Q q 0 0 0 rg BT 116.87 497.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 138.65 497.10 Td (such ) Tj ET Q q 0 0 0 rg BT 159.86 497.10 Td (as ) Tj ET Q q 0 0 0 rg BT 171.08 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 186.19 497.10 Td (taxi ) Tj ET Q q 0 0 0 rg BT 204.07 497.10 Td (line, ) Tj ET Q q 0 0 0 rg BT 224.45 497.10 Td (there ) Tj ET Q q 0 0 0 rg BT 247.33 497.10 Td (are ) Tj ET Q q 0 0 0 rg BT 262.42 497.10 Td (also ) Tj ET Q q 0 0 0 rg BT 281.42 497.10 Td (other ) Tj ET Q q 0 0 0 rg BT 304.85 497.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 334.95 497.10 Td (such ) Tj ET Q q 0 0 0 rg BT 356.17 497.10 Td (as ) Tj ET Q q 0 0 0 rg BT 367.39 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 382.49 497.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 401.49 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 418.81 497.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 450.03 497.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 479.59 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 490.81 497.10 Td (medallions ) Tj ET Q q 0 0 0 rg BT 537.58 497.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 485.10 Td (may ) Tj ET Q q 0 0 0 rg BT 69.72 485.10 Td (discourage ) Tj ET Q q 0 0 0 rg BT 115.53 485.10 Td (a ) Tj ET Q q 0 0 0 rg BT 122.47 485.10 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 175.51 485.10 Td (from ) Tj ET Q q 0 0 0 rg BT 197.45 485.10 Td (taking ) Tj ET Q q 0 0 0 rg BT 224.95 485.10 Td (vehicles ) Tj ET Q q 0 0 0 rg BT 260.21 485.10 Td (out ) Tj ET Q q 0 0 0 rg BT 275.49 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 286.32 485.10 Td (service ) Tj ET Q q 0 0 0 rg BT 317.13 485.10 Td (in ) Tj ET Q q 0 0 0 rg BT 327.41 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 342.13 485.10 Td (face ) Tj ET Q q 0 0 0 rg BT 361.27 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 372.10 485.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 406.25 485.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 440.41 485.10 Td (for ) Tj ET Q q 0 0 0 rg BT 454.57 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 469.28 485.10 Td (use ) Tj ET Q q 0 0 0 rg BT 485.11 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 495.94 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 510.66 485.10 Td (vehicle. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 468.10 Td (Sur) Tj ET Q q 0 0 0 rg BT 65.38 468.10 Td (ety) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.29 451.10 Td (surety ) Tj ET Q q 0 0 0 rg BT 95.48 451.10 Td (program ) Tj ET Q q 0 0 0 rg BT 132.10 451.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 172.05 451.10 Td (consists ) Tj ET Q q 0 0 0 rg BT 206.46 451.10 Td (of ) Tj ET Q q 0 0 0 rg BT 217.54 451.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 238.06 451.10 Td (Customs ) Tj ET Q q 0 0 0 rg BT 275.82 451.10 Td (bonds. ) Tj ET Q q 0 0 0 rg BT 304.75 451.10 Td (W) Tj ET Q q 0 0 0 rg BT 313.39 451.10 Td (e ) Tj ET Q q 0 0 0 rg BT 320.57 451.10 Td (engage ) Tj ET Q q 0 0 0 rg BT 351.63 451.10 Td (a ) Tj ET Q q 0 0 0 rg BT 358.81 451.10 Td (former ) Tj ET Q q 0 0 0 rg BT 388.76 451.10 Td (af) Tj ET Q q 0 0 0 rg BT 396.35 451.10 Td (filiate, ) Tj ET Q q 0 0 0 rg BT 424.31 451.10 Td (A) Tj ET Q q 0 0 0 rg BT 430.79 451.10 Td (valon ) Tj ET Q q 0 0 0 rg BT 455.75 451.10 Td (Risk ) Tj ET Q q 0 0 0 rg BT 476.83 451.10 Td (Management, ) Tj ET Q q 0 0 0 rg BT 534.28 451.10 Td (to ) Tj ET Q q 0 0 0 rg BT 544.80 451.10 Td (help ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (coordinate ) Tj ET Q q 0 0 0 rg BT 95.47 439.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 135.39 439.10 Td (service ) Tj ET Q q 0 0 0 rg BT 166.97 439.10 Td (and ) Tj ET Q q 0 0 0 rg BT 184.67 439.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 210.15 439.10 Td (handling ) Tj ET Q q 0 0 0 rg BT 248.41 439.10 Td (for ) Tj ET Q q 0 0 0 rg BT 263.34 439.10 Td (the ) Tj ET Q q 0 0 0 rg BT 278.82 439.10 Td (surety ) Tj ET Q q 0 0 0 rg BT 306.52 439.10 Td (bonds ) Tj ET Q q 0 0 0 rg BT 333.68 439.10 Td (written. ) Tj ET Q q 0 0 0 rg BT 367.54 439.10 Td (This ) Tj ET Q q 0 0 0 rg BT 388.58 439.10 Td (non-core ) Tj ET Q q 0 0 0 rg BT 427.38 439.10 Td (program ) Tj ET Q q 0 0 0 rg BT 464.53 439.10 Td (is ) Tj ET Q q 0 0 0 rg BT 474.46 439.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 501.06 439.10 Td (reinsured ) Tj ET Q q 0 0 0 rg BT 541.53 439.10 Td (to ) Tj ET Q q 0 0 0 rg BT 552.57 439.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (unrelated ) Tj ET Q q 0 0 0 rg BT 89.25 427.10 Td (third ) Tj ET Q q 0 0 0 rg BT 110.18 427.10 Td (party ) Tj ET Q q 0 0 0 rg BT 132.78 427.10 Td (and ) Tj ET Q q 0 0 0 rg BT 149.26 427.10 Td (is ) Tj ET Q q 0 0 0 rg BT 157.98 427.10 Td (being ) Tj ET Q q 0 0 0 rg BT 182.25 427.10 Td (transitioned ) Tj ET Q q 0 0 0 rg BT 231.50 427.10 Td (to ) Tj ET Q q 0 0 0 rg BT 241.33 427.10 Td (another ) Tj ET Q q 0 0 0 rg BT 273.36 427.10 Td (carrier) Tj ET Q q 0 0 0 rg BT 298.90 427.10 Td (. ) Tj ET Q q 0 0 0 rg BT 303.44 427.10 Td ( ) Tj ET Q q 0 0 0 rg BT 305.49 427.10 Td (No ) Tj ET Q q 0 0 0 rg BT 319.76 427.10 Td (new ) Tj ET Q q 0 0 0 rg BT 338.47 427.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 376.62 427.10 Td (will ) Tj ET Q q 0 0 0 rg BT 394.22 427.10 Td (be ) Tj ET Q q 0 0 0 rg BT 405.71 427.10 Td (written ) Tj ET Q q 0 0 0 rg BT 436.08 427.10 Td (in ) Tj ET Q q 0 0 0 rg BT 445.91 427.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 491.82 427.10 Td (with ) Tj ET Q q 0 0 0 rg BT 511.65 427.10 Td (this ) Tj ET Q q 0 0 0 rg BT 528.15 427.10 Td (program ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 415.10 Td (2015. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 398.10 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 381.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.87 381.10 Td (other ) Tj ET Q q 0 0 0 rg BT 90.73 381.10 Td (line ) Tj ET Q q 0 0 0 rg BT 108.05 381.10 Td (of ) Tj ET Q q 0 0 0 rg BT 118.70 381.10 Td (business ) Tj ET Q q 0 0 0 rg BT 154.91 381.10 Td (is ) Tj ET Q q 0 0 0 rg BT 163.90 381.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 207.87 381.10 Td (of ) Tj ET Q q 0 0 0 rg BT 218.52 381.10 Td (Gateway's ) Tj ET Q q 0 0 0 rg BT 262.07 381.10 Td (truck ) Tj ET Q q 0 0 0 rg BT 284.94 381.10 Td (and ) Tj ET Q q 0 0 0 rg BT 301.69 381.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 338.03 381.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 395.89 381.10 Td (programs ) Tj ET Q q 0 0 0 rg BT 435.98 381.10 Td (\(currently ) Tj ET Q q 0 0 0 rg BT 477.72 381.10 Td (in ) Tj ET Q q 0 0 0 rg BT 487.82 381.10 Td (run ) Tj ET Q q 0 0 0 rg BT 503.47 381.10 Td (of) Tj ET Q q 0 0 0 rg BT 511.62 381.10 Td (f\), ) Tj ET Q q 0 0 0 rg BT 522.58 381.10 Td (American ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 369.10 Td (Services' ) Tj ET Q q 0 0 0 rg BT 88.24 369.10 Td (non-standard ) Tj ET Q q 0 0 0 rg BT 143.02 369.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 179.46 369.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 200.91 369.10 Td (business ) Tj ET Q q 0 0 0 rg BT 237.37 369.10 Td (\(currently ) Tj ET Q q 0 0 0 rg BT 279.35 369.10 Td (in ) Tj ET Q q 0 0 0 rg BT 289.70 369.10 Td (run ) Tj ET Q q 0 0 0 rg BT 305.59 369.10 Td (of) Tj ET Q q 0 0 0 rg BT 313.74 369.10 Td (f ) Tj ET Q q 0 0 0 rg BT 319.64 369.10 Td (\), ) Tj ET Q q 0 0 0 rg BT 327.47 369.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 352.94 369.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 389.52 369.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 447.63 369.10 Td (related ) Tj ET Q q 0 0 0 rg BT 477.39 369.10 Td (to ) Tj ET Q q 0 0 0 rg BT 487.74 369.10 Td (taxi, ) Tj ET Q q 0 0 0 rg BT 507.80 369.10 Td (other ) Tj ET Q q 0 0 0 rg BT 530.91 369.10 Td (liability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 357.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 357.10 Td (assigned ) Tj ET Q q 0 0 0 rg BT 103.88 357.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 121.38 357.10 Td (business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.91 340.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 105.81 340.10 Td (truck ) Tj ET Q q 0 0 0 rg BT 128.72 340.10 Td (and ) Tj ET Q q 0 0 0 rg BT 145.52 340.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 181.89 340.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 239.80 340.10 Td (programs ) Tj ET Q q 0 0 0 rg BT 279.93 340.10 Td (were ) Tj ET Q q 0 0 0 rg BT 301.72 340.10 Td (put ) Tj ET Q q 0 0 0 rg BT 316.86 340.10 Td (into ) Tj ET Q q 0 0 0 rg BT 334.78 340.10 Td (run-of) Tj ET Q q 0 0 0 rg BT 359.59 340.10 Td (f ) Tj ET Q q 0 0 0 rg BT 365.28 340.10 Td (during ) Tj ET Q q 0 0 0 rg BT 393.75 340.10 Td (2012. ) Tj ET Q q 0 0 0 rg BT 418.62 340.10 Td ( ) Tj ET Q q 0 0 0 rg BT 420.81 340.10 Td (The ) Tj ET Q q 0 0 0 rg BT 438.72 340.10 Td (truck ) Tj ET Q q 0 0 0 rg BT 461.63 340.10 Td (program ) Tj ET Q q 0 0 0 rg BT 497.86 340.10 Td (had ) Tj ET Q q 0 0 0 rg BT 514.67 340.10 Td (little ) Tj ET Q q 0 0 0 rg BT 535.36 340.10 Td (earned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 88.00 328.10 Td (during ) Tj ET Q q 0 0 0 rg BT 116.01 328.10 Td (2012 ) Tj ET Q q 0 0 0 rg BT 137.90 328.10 Td (and ) Tj ET Q q 0 0 0 rg BT 154.24 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.35 328.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 204.26 328.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 261.70 328.10 Td (program ) Tj ET Q q 0 0 0 rg BT 297.48 328.10 Td (is ) Tj ET Q q 0 0 0 rg BT 306.04 328.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 331.27 328.10 Td (reinsured ) Tj ET Q q 0 0 0 rg BT 370.37 328.10 Td (retrospectively ) Tj ET Q q 0 0 0 rg BT 431.69 328.10 Td (and ) Tj ET Q q 0 0 0 rg BT 448.02 328.10 Td (prospectively ) Tj ET Q q 0 0 0 rg BT 503.79 328.10 Td (to ) Tj ET Q q 0 0 0 rg BT 513.47 328.10 Td (an ) Tj ET Q q 0 0 0 rg BT 524.80 328.10 Td (unrelated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (third ) Tj ET Q q 0 0 0 rg BT 71.39 316.10 Td (party) Tj ET Q q 0 0 0 rg BT 91.28 316.10 Td (. ) Tj ET Q q 0 0 0 rg BT 96.28 316.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.10 Td (Non-standard ) Tj ET Q q 0 0 0 rg BT 107.05 299.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 154.67 299.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 195.60 299.10 Td (is ) Tj ET Q q 0 0 0 rg BT 204.90 299.10 Td (principally ) Tj ET Q q 0 0 0 rg BT 250.84 299.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 289.01 299.10 Td (to ) Tj ET Q q 0 0 0 rg BT 299.41 299.10 Td (individuals ) Tj ET Q q 0 0 0 rg BT 346.48 299.10 Td (who ) Tj ET Q q 0 0 0 rg BT 366.33 299.10 Td (do ) Tj ET Q q 0 0 0 rg BT 378.95 299.10 Td (not ) Tj ET Q q 0 0 0 rg BT 394.35 299.10 Td (qualify ) Tj ET Q q 0 0 0 rg BT 425.30 299.10 Td (for ) Tj ET Q q 0 0 0 rg BT 439.58 299.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 476.08 299.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 523.70 299.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 89.31 287.10 Td (because ) Tj ET Q q 0 0 0 rg BT 124.19 287.10 Td (of ) Tj ET Q q 0 0 0 rg BT 135.75 287.10 Td (their ) Tj ET Q q 0 0 0 rg BT 157.30 287.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 194.97 287.10 Td (history) Tj ET Q q 0 0 0 rg BT 222.10 287.10 Td (, ) Tj ET Q q 0 0 0 rg BT 227.83 287.10 Td (driving ) Tj ET Q q 0 0 0 rg BT 259.94 287.10 Td (record, ) Tj ET Q q 0 0 0 rg BT 291.21 287.10 Td (place ) Tj ET Q q 0 0 0 rg BT 315.53 287.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.09 287.10 Td (residence, ) Tj ET Q q 0 0 0 rg BT 370.58 287.10 Td (age, ) Tj ET Q q 0 0 0 rg BT 390.19 287.10 Td (vehicle ) Tj ET Q q 0 0 0 rg BT 422.29 287.10 Td (type ) Tj ET Q q 0 0 0 rg BT 442.73 287.10 Td (or ) Tj ET Q q 0 0 0 rg BT 454.29 287.10 Td (other ) Tj ET Q q 0 0 0 rg BT 478.07 287.10 Td (factors. ) Tj ET Q q 0 0 0 rg BT 511.01 287.10 Td (Such ) Tj ET Q q 0 0 0 rg BT 534.24 287.10 Td (drivers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.10 Td (typically ) Tj ET Q q 0 0 0 rg BT 87.49 275.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 126.64 275.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 154.68 275.10 Td (than ) Tj ET Q q 0 0 0 rg BT 174.40 275.10 Td (normal ) Tj ET Q q 0 0 0 rg BT 205.22 275.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 226.62 275.10 Td (and ) Tj ET Q q 0 0 0 rg BT 243.55 275.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 260.49 275.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 288.54 275.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 329.36 275.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 350.73 275.10 Td (for ) Tj ET Q q 0 0 0 rg BT 364.89 275.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 414.03 275.10 Td (coverage.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.10 Td (Consistent ) Tj ET Q q 0 0 0 rg BT 94.95 258.10 Td (with ) Tj ET Q q 0 0 0 rg BT 114.84 258.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 138.54 258.10 Td ( ) Tj ET Q q 0 0 0 rg BT 141.26 258.10 Td (focus ) Tj ET Q q 0 0 0 rg BT 165.64 258.10 Td (on ) Tj ET Q q 0 0 0 rg BT 178.36 258.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 228.28 258.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 275.99 258.10 Td (insurance, ) Tj ET Q q 0 0 0 rg BT 318.92 258.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 342.75 258.10 Td (has ) Tj ET Q q 0 0 0 rg BT 358.80 258.10 Td (transitioned ) Tj ET Q q 0 0 0 rg BT 408.73 258.10 Td (away ) Tj ET Q q 0 0 0 rg BT 432.55 258.10 Td (from ) Tj ET Q q 0 0 0 rg BT 454.71 258.10 Td (the ) Tj ET Q q 0 0 0 rg BT 469.64 258.10 Td (non-standard ) Tj ET Q q 0 0 0 rg BT 524.57 258.10 Td (auto ) Tj ET Q q 0 0 0 rg BT 544.51 258.10 Td (line. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.42 246.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 107.61 246.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 156.70 246.10 Td (ceased ) Tj ET Q q 0 0 0 rg BT 185.22 246.10 Td (writing ) Tj ET Q q 0 0 0 rg BT 215.98 246.10 Td (new ) Tj ET Q q 0 0 0 rg BT 234.51 246.10 Td (and ) Tj ET Q q 0 0 0 rg BT 250.82 246.10 Td (renewal ) Tj ET Q q 0 0 0 rg BT 284.34 246.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 317.32 246.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.52 246.10 Td (this ) Tj ET Q q 0 0 0 rg BT 343.84 246.10 Td (type ) Tj ET Q q 0 0 0 rg BT 362.93 246.10 Td (in ) Tj ET Q q 0 0 0 rg BT 372.58 246.10 Td (201) Tj ET Q q 0 0 0 rg BT 387.21 246.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 394.08 246.10 Td (and ) Tj ET Q q 0 0 0 rg BT 410.39 246.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 438.91 246.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 476.89 246.10 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 529.86 246.10 Td (in ) Tj ET Q q 0 0 0 rg BT 539.51 246.10 Td (2012, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.10 Td (allowing ) Tj ET Q q 0 0 0 rg BT 87.50 234.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 118.89 234.10 Td (and ) Tj ET Q q 0 0 0 rg BT 135.83 234.10 Td (resources ) Tj ET Q q 0 0 0 rg BT 176.08 234.10 Td (to ) Tj ET Q q 0 0 0 rg BT 186.36 234.10 Td (be ) Tj ET Q q 0 0 0 rg BT 198.30 234.10 Td (devoted ) Tj ET Q q 0 0 0 rg BT 232.46 234.10 Td (to ) Tj ET Q q 0 0 0 rg BT 242.73 234.10 Td (the ) Tj ET Q q 0 0 0 rg BT 257.45 234.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 295.48 234.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 326.31 234.10 Td (of ) Tj ET Q q 0 0 0 rg BT 337.14 234.10 Td (the ) Tj ET Q q 0 0 0 rg BT 351.86 234.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 401.56 234.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 449.05 234.10 Td (business. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.50 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 199.50 Td (e ) Tj ET Q q 0 0 0 rg BT 66.17 199.50 Td (derive ) Tj ET Q q 0 0 0 rg BT 94.26 199.50 Td (our ) Tj ET Q q 0 0 0 rg BT 110.69 199.50 Td (revenues ) Tj ET Q q 0 0 0 rg BT 149.32 199.50 Td (primarily ) Tj ET Q q 0 0 0 rg BT 189.63 199.50 Td (from ) Tj ET Q q 0 0 0 rg BT 212.17 199.50 Td (premiums ) Tj ET Q q 0 0 0 rg BT 255.26 199.50 Td (from ) Tj ET Q q 0 0 0 rg BT 277.80 199.50 Td (our ) Tj ET Q q 0 0 0 rg BT 294.23 199.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 335.64 199.50 Td (policies ) Tj ET Q q 0 0 0 rg BT 369.84 199.50 Td (and ) Tj ET Q q 0 0 0 rg BT 387.38 199.50 Td (income ) Tj ET Q q 0 0 0 rg BT 419.91 199.50 Td (from ) Tj ET Q q 0 0 0 rg BT 442.45 199.50 Td (our ) Tj ET Q q 0 0 0 rg BT 458.87 199.50 Td (investment ) Tj ET Q q 0 0 0 rg BT 505.85 199.50 Td (portfolio. ) Tj ET Q q 0 0 0 rg BT 546.45 199.50 Td (Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.50 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 103.82 187.50 Td (approach ) Tj ET Q q 0 0 0 rg BT 142.64 187.50 Td (is ) Tj ET Q q 0 0 0 rg BT 151.47 187.50 Td (to ) Tj ET Q q 0 0 0 rg BT 161.42 187.50 Td (price ) Tj ET Q q 0 0 0 rg BT 183.57 187.50 Td (our ) Tj ET Q q 0 0 0 rg BT 199.07 187.50 Td (products ) Tj ET Q q 0 0 0 rg BT 235.68 187.50 Td (to ) Tj ET Q q 0 0 0 rg BT 245.63 187.50 Td (generate ) Tj ET Q q 0 0 0 rg BT 281.66 187.50 Td (consistent ) Tj ET Q q 0 0 0 rg BT 323.82 187.50 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 377.64 187.50 Td (profit ) Tj ET Q q 0 0 0 rg BT 402.03 187.50 Td (for ) Tj ET Q q 0 0 0 rg BT 415.85 187.50 Td (the ) Tj ET Q q 0 0 0 rg BT 430.24 187.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 470.72 187.50 Td (companies ) Tj ET Q q 0 0 0 rg BT 515.65 187.50 Td (we ) Tj ET Q q 0 0 0 rg BT 529.48 187.50 Td (own. ) Tj ET Q q 0 0 0 rg BT 550.89 187.50 Td (As ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.50 Td (with ) Tj ET Q q 0 0 0 rg BT 70.58 175.50 Td (all ) Tj ET Q q 0 0 0 rg BT 83.38 175.50 Td (P&C ) Tj ET Q q 0 0 0 rg BT 106.19 175.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 147.31 175.50 Td (companies, ) Tj ET Q q 0 0 0 rg BT 195.38 175.50 Td (the ) Tj ET Q q 0 0 0 rg BT 210.40 175.50 Td (impact ) Tj ET Q q 0 0 0 rg BT 240.41 175.50 Td (of ) Tj ET Q q 0 0 0 rg BT 251.54 175.50 Td (price ) Tj ET Q q 0 0 0 rg BT 274.33 175.50 Td (changes ) Tj ET Q q 0 0 0 rg BT 309.34 175.50 Td (is ) Tj ET Q q 0 0 0 rg BT 318.81 175.50 Td (reflected ) Tj ET Q q 0 0 0 rg BT 356.59 175.50 Td (in ) Tj ET Q q 0 0 0 rg BT 367.17 175.50 Td (our ) Tj ET Q q 0 0 0 rg BT 383.30 175.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 421.08 175.50 Td (results ) Tj ET Q q 0 0 0 rg BT 450.00 175.50 Td (over ) Tj ET Q q 0 0 0 rg BT 470.57 175.50 Td (time. ) Tj ET Q q 0 0 0 rg BT 493.64 175.50 Td (Price ) Tj ET Q q 0 0 0 rg BT 516.99 175.50 Td (changes ) Tj ET Q q 0 0 0 rg BT 552.00 175.50 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.50 Td (our ) Tj ET Q q 0 0 0 rg BT 65.72 163.50 Td (in-force ) Tj ET Q q 0 0 0 rg BT 99.76 163.50 Td (policies ) Tj ET Q q 0 0 0 rg BT 133.26 163.50 Td (occur ) Tj ET Q q 0 0 0 rg BT 157.86 163.50 Td (as ) Tj ET Q q 0 0 0 rg BT 168.58 163.50 Td (they ) Tj ET Q q 0 0 0 rg BT 188.19 163.50 Td (are ) Tj ET Q q 0 0 0 rg BT 202.79 163.50 Td (renewed. ) Tj ET Q q 0 0 0 rg BT 241.55 163.50 Td ( ) Tj ET Q q 0 0 0 rg BT 243.77 163.50 Td (This ) Tj ET Q q 0 0 0 rg BT 263.94 163.50 Td (cycle ) Tj ET Q q 0 0 0 rg BT 287.42 163.50 Td (generally ) Tj ET Q q 0 0 0 rg BT 327.02 163.50 Td (takes ) Tj ET Q q 0 0 0 rg BT 349.96 163.50 Td (twelve ) Tj ET Q q 0 0 0 rg BT 379.01 163.50 Td (months ) Tj ET Q q 0 0 0 rg BT 410.85 163.50 Td (for ) Tj ET Q q 0 0 0 rg BT 424.90 163.50 Td (our ) Tj ET Q q 0 0 0 rg BT 440.62 163.50 Td (entire ) Tj ET Q q 0 0 0 rg BT 465.78 163.50 Td (book ) Tj ET Q q 0 0 0 rg BT 488.17 163.50 Td (of ) Tj ET Q q 0 0 0 rg BT 498.89 163.50 Td (business ) Tj ET Q q 0 0 0 rg BT 535.18 163.50 Td (and ) Tj ET Q q 0 0 0 rg BT 552.01 163.50 Td (up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.50 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 151.50 Td (an ) Tj ET Q q 0 0 0 rg BT 72.22 151.50 Td (additional ) Tj ET Q q 0 0 0 rg BT 114.71 151.50 Td (twelve ) Tj ET Q q 0 0 0 rg BT 143.86 151.50 Td (months ) Tj ET Q q 0 0 0 rg BT 175.81 151.50 Td (to ) Tj ET Q q 0 0 0 rg BT 186.09 151.50 Td (earn ) Tj ET Q q 0 0 0 rg BT 205.80 151.50 Td (a ) Tj ET Q q 0 0 0 rg BT 212.73 151.50 Td (full ) Tj ET Q q 0 0 0 rg BT 229.12 151.50 Td (year ) Tj ET Q q 0 0 0 rg BT 248.83 151.50 Td (of ) Tj ET Q q 0 0 0 rg BT 259.66 151.50 Td (premium ) Tj ET Q q 0 0 0 rg BT 298.26 151.50 Td (at ) Tj ET Q q 0 0 0 rg BT 307.98 151.50 Td (the ) Tj ET Q q 0 0 0 rg BT 322.70 151.50 Td (renewal ) Tj ET Q q 0 0 0 rg BT 356.84 151.50 Td (rate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 133.90 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 133.90 Td (e ) Tj ET Q q 0 0 0 rg BT 66.39 133.90 Td (approach ) Tj ET Q q 0 0 0 rg BT 106.34 133.90 Td (investment ) Tj ET Q q 0 0 0 rg BT 153.53 133.90 Td (and ) Tj ET Q q 0 0 0 rg BT 171.28 133.90 Td (capital ) Tj ET Q q 0 0 0 rg BT 201.24 133.90 Td (management ) Tj ET Q q 0 0 0 rg BT 255.64 133.90 Td (with ) Tj ET Q q 0 0 0 rg BT 276.73 133.90 Td (the ) Tj ET Q q 0 0 0 rg BT 292.25 133.90 Td (intention ) Tj ET Q q 0 0 0 rg BT 331.11 133.90 Td (of ) Tj ET Q q 0 0 0 rg BT 342.75 133.90 Td (supporting ) Tj ET Q q 0 0 0 rg BT 388.84 133.90 Td (insurance ) Tj ET Q q 0 0 0 rg BT 430.47 133.90 Td (operations ) Tj ET Q q 0 0 0 rg BT 475.43 133.90 Td (by ) Tj ET Q q 0 0 0 rg BT 488.74 133.90 Td (providing ) Tj ET Q q 0 0 0 rg BT 530.94 133.90 Td (a ) Tj ET Q q 0 0 0 rg BT 538.69 133.90 Td (stable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 121.90 Td (source ) Tj ET Q q 0 0 0 rg BT 78.53 121.90 Td (of ) Tj ET Q q 0 0 0 rg BT 89.29 121.90 Td (income ) Tj ET Q q 0 0 0 rg BT 121.15 121.90 Td (to ) Tj ET Q q 0 0 0 rg BT 131.35 121.90 Td (supplement ) Tj ET Q q 0 0 0 rg BT 179.89 121.90 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 233.97 121.90 Td (income. ) Tj ET Q q 0 0 0 rg BT 268.15 121.90 Td (The ) Tj ET Q q 0 0 0 rg BT 286.13 121.90 Td (goals ) Tj ET Q q 0 0 0 rg BT 309.67 121.90 Td (of ) Tj ET Q q 0 0 0 rg BT 320.42 121.90 Td (our ) Tj ET Q q 0 0 0 rg BT 336.18 121.90 Td (investment ) Tj ET Q q 0 0 0 rg BT 382.49 121.90 Td (policy ) Tj ET Q q 0 0 0 rg BT 409.92 121.90 Td (are ) Tj ET Q q 0 0 0 rg BT 424.55 121.90 Td (to ) Tj ET Q q 0 0 0 rg BT 434.76 121.90 Td (protect ) Tj ET Q q 0 0 0 rg BT 464.95 121.90 Td (capital ) Tj ET Q q 0 0 0 rg BT 494.03 121.90 Td (while ) Tj ET Q q 0 0 0 rg BT 518.67 121.90 Td (optimizing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.90 Td (investment ) Tj ET Q q 0 0 0 rg BT 96.32 109.90 Td (income ) Tj ET Q q 0 0 0 rg BT 128.20 109.90 Td (and ) Tj ET Q q 0 0 0 rg BT 145.08 109.90 Td (capital ) Tj ET Q q 0 0 0 rg BT 174.17 109.90 Td (appreciation ) Tj ET Q q 0 0 0 rg BT 226.03 109.90 Td (and ) Tj ET Q q 0 0 0 rg BT 242.91 109.90 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 293.12 109.90 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 341.09 109.90 Td (liquidity) Tj ET Q q 0 0 0 rg BT 374.34 109.90 Td (. ) Tj ET Q q 0 0 0 rg BT 379.10 109.90 Td (W) Tj ET Q q 0 0 0 rg BT 387.74 109.90 Td (e ) Tj ET Q q 0 0 0 rg BT 394.62 109.90 Td (follow ) Tj ET Q q 0 0 0 rg BT 423.17 109.90 Td (a ) Tj ET Q q 0 0 0 rg BT 430.05 109.90 Td (formal ) Tj ET Q q 0 0 0 rg BT 459.15 109.90 Td (investment ) Tj ET Q q 0 0 0 rg BT 505.47 109.90 Td (policy ) Tj ET Q q 0 0 0 rg BT 532.90 109.90 Td (and ) Tj ET Q q 0 0 0 rg BT 549.78 109.90 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.90 Td (Board ) Tj ET Q q 0 0 0 rg BT 78.00 97.90 Td (of ) Tj ET Q q 0 0 0 rg BT 89.89 97.90 Td (Directors ) Tj ET Q q 0 0 0 rg BT 130.65 97.90 Td (reviews ) Tj ET Q q 0 0 0 rg BT 165.31 97.90 Td (the ) Tj ET Q q 0 0 0 rg BT 181.08 97.90 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 219.64 97.90 Td (performance ) Tj ET Q q 0 0 0 rg BT 273.72 97.90 Td (at ) Tj ET Q q 0 0 0 rg BT 284.49 97.90 Td (least ) Tj ET Q q 0 0 0 rg BT 306.38 97.90 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 346.03 97.90 Td (for ) Tj ET Q q 0 0 0 rg BT 361.25 97.90 Td (compliance ) Tj ET Q q 0 0 0 rg BT 410.90 97.90 Td (with ) Tj ET Q q 0 0 0 rg BT 432.23 97.90 Td (the ) Tj ET Q q 0 0 0 rg BT 448.01 97.90 Td (established ) Tj ET Q q 0 0 0 rg BT 496.00 97.90 Td (guidelines. ) Tj ET Q q 0 0 0 rg BT 543.16 97.90 Td ( ) Tj ET Q q 0 0 0 rg BT 546.46 97.90 Td (The ) Tj ET Q q 0 0 0 rg BT 564.51 97.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.90 Td (Investment ) Tj ET Q q 0 0 0 rg BT 96.21 85.90 Td (Committee ) Tj ET Q q 0 0 0 rg BT 142.42 85.90 Td (of ) Tj ET Q q 0 0 0 rg BT 152.52 85.90 Td (the ) Tj ET Q q 0 0 0 rg BT 166.50 85.90 Td (Board ) Tj ET Q q 0 0 0 rg BT 192.71 85.90 Td (of ) Tj ET Q q 0 0 0 rg BT 202.82 85.90 Td (Directors ) Tj ET Q q 0 0 0 rg BT 241.79 85.90 Td (provides ) Tj ET Q q 0 0 0 rg BT 278.00 85.90 Td (interim ) Tj ET Q q 0 0 0 rg BT 308.66 85.90 Td (guidance ) Tj ET Q q 0 0 0 rg BT 346.52 85.90 Td (and ) Tj ET Q q 0 0 0 rg BT 362.73 85.90 Td (analysis ) Tj ET Q q 0 0 0 rg BT 396.72 85.90 Td (with ) Tj ET Q q 0 0 0 rg BT 416.27 85.90 Td (respect ) Tj ET Q q 0 0 0 rg BT 446.36 85.90 Td (to ) Tj ET Q q 0 0 0 rg BT 455.91 85.90 Td (asset ) Tj ET Q q 0 0 0 rg BT 477.12 85.90 Td (allocation, ) Tj ET Q q 0 0 0 rg BT 520.82 85.90 Td (as ) Tj ET Q q 0 0 0 rg BT 530.92 85.90 Td (deemed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.90 Td (appropriate.) Tj ET Q endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 724.65 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.73 724.65 Td (claims ) Tj ET Q q 0 0 0 rg BT 95.13 724.65 Td (incurred ) Tj ET Q q 0 0 0 rg BT 130.74 724.65 Td (expenses ) Tj ET Q q 0 0 0 rg BT 169.13 724.65 Td ( ) Tj ET Q q 0 0 0 rg BT 171.43 724.65 Td (are ) Tj ET Q q 0 0 0 rg BT 185.93 724.65 Td (a ) Tj ET Q q 0 0 0 rg BT 192.66 724.65 Td (function ) Tj ET Q q 0 0 0 rg BT 228.28 724.65 Td (of ) Tj ET Q q 0 0 0 rg BT 238.90 724.65 Td (the ) Tj ET Q q 0 0 0 rg BT 253.41 724.65 Td (amount ) Tj ET Q q 0 0 0 rg BT 285.70 724.65 Td (and ) Tj ET Q q 0 0 0 rg BT 302.43 724.65 Td (type ) Tj ET Q q 0 0 0 rg BT 321.95 724.65 Td (of ) Tj ET Q q 0 0 0 rg BT 332.57 724.65 Td (insurance ) Tj ET Q q 0 0 0 rg BT 373.18 724.65 Td (contracts ) Tj ET Q q 0 0 0 rg BT 411.57 724.65 Td (we ) Tj ET Q q 0 0 0 rg BT 425.52 724.65 Td (write ) Tj ET Q q 0 0 0 rg BT 448.36 724.65 Td (and ) Tj ET Q q 0 0 0 rg BT 465.09 724.65 Td (of ) Tj ET Q q 0 0 0 rg BT 475.72 724.65 Td (the ) Tj ET Q q 0 0 0 rg BT 490.23 724.65 Td (loss ) Tj ET Q q 0 0 0 rg BT 508.08 724.65 Td (experience ) Tj ET Q q 0 0 0 rg BT 553.68 724.65 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.65 Td (the ) Tj ET Q q 0 0 0 rg BT 64.36 712.65 Td (underlying ) Tj ET Q q 0 0 0 rg BT 109.84 712.65 Td (risks. ) Tj ET Q q 0 0 0 rg BT 133.22 712.65 Td (W) Tj ET Q q 0 0 0 rg BT 141.86 712.65 Td (e ) Tj ET Q q 0 0 0 rg BT 148.44 712.65 Td (record ) Tj ET Q q 0 0 0 rg BT 176.13 712.65 Td (net ) Tj ET Q q 0 0 0 rg BT 190.49 712.65 Td (claims ) Tj ET Q q 0 0 0 rg BT 218.74 712.65 Td (incurred ) Tj ET Q q 0 0 0 rg BT 254.21 712.65 Td (based ) Tj ET Q q 0 0 0 rg BT 279.12 712.65 Td (on ) Tj ET Q q 0 0 0 rg BT 291.27 712.65 Td (an ) Tj ET Q q 0 0 0 rg BT 302.86 712.65 Td (actuarial ) Tj ET Q q 0 0 0 rg BT 339.42 712.65 Td (analysis ) Tj ET Q q 0 0 0 rg BT 373.79 712.65 Td (of ) Tj ET Q q 0 0 0 rg BT 384.26 712.65 Td (the ) Tj ET Q q 0 0 0 rg BT 398.63 712.65 Td (estimated ) Tj ET Q q 0 0 0 rg BT 439.10 712.65 Td (losses ) Tj ET Q q 0 0 0 rg BT 465.14 712.65 Td (we ) Tj ET Q q 0 0 0 rg BT 478.94 712.65 Td (expect ) Tj ET Q q 0 0 0 rg BT 507.18 712.65 Td (to ) Tj ET Q q 0 0 0 rg BT 517.11 712.65 Td (be ) Tj ET Q q 0 0 0 rg BT 528.70 712.65 Td (reported ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.65 Td (on ) Tj ET Q q 0 0 0 rg BT 61.33 700.65 Td (contracts ) Tj ET Q q 0 0 0 rg BT 98.76 700.65 Td (written. ) Tj ET Q q 0 0 0 rg BT 130.82 700.65 Td (W) Tj ET Q q 0 0 0 rg BT 139.46 700.65 Td (e ) Tj ET Q q 0 0 0 rg BT 145.23 700.65 Td (seek ) Tj ET Q q 0 0 0 rg BT 164.33 700.65 Td (to ) Tj ET Q q 0 0 0 rg BT 173.44 700.65 Td (establish ) Tj ET Q q 0 0 0 rg BT 209.76 700.65 Td (case ) Tj ET Q q 0 0 0 rg BT 228.30 700.65 Td (reserves ) Tj ET Q q 0 0 0 rg BT 262.39 700.65 Td (at ) Tj ET Q q 0 0 0 rg BT 270.94 700.65 Td (the ) Tj ET Q q 0 0 0 rg BT 284.49 700.65 Td (maximum ) Tj ET Q q 0 0 0 rg BT 326.38 700.65 Td (probable ) Tj ET Q q 0 0 0 rg BT 362.69 700.65 Td (exposure ) Tj ET Q q 0 0 0 rg BT 400.12 700.65 Td (based ) Tj ET Q q 0 0 0 rg BT 424.22 700.65 Td (on ) Tj ET Q q 0 0 0 rg BT 435.56 700.65 Td (our ) Tj ET Q q 0 0 0 rg BT 450.22 700.65 Td (historical ) Tj ET Q q 0 0 0 rg BT 488.76 700.65 Td (claims ) Tj ET Q q 0 0 0 rg BT 516.20 700.65 Td (experience. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.65 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.51 688.65 Td (ability ) Tj ET Q q 0 0 0 rg BT 97.03 688.65 Td (to ) Tj ET Q q 0 0 0 rg BT 107.77 688.65 Td (estimate ) Tj ET Q q 0 0 0 rg BT 144.05 688.65 Td (net ) Tj ET Q q 0 0 0 rg BT 159.23 688.65 Td (claims ) Tj ET Q q 0 0 0 rg BT 188.29 688.65 Td (incurred ) Tj ET Q q 0 0 0 rg BT 224.57 688.65 Td (accurately ) Tj ET Q q 0 0 0 rg BT 268.61 688.65 Td (at ) Tj ET Q q 0 0 0 rg BT 278.79 688.65 Td (the ) Tj ET Q q 0 0 0 rg BT 293.96 688.65 Td (time ) Tj ET Q q 0 0 0 rg BT 314.70 688.65 Td (of ) Tj ET Q q 0 0 0 rg BT 325.99 688.65 Td (pricing ) Tj ET Q q 0 0 0 rg BT 357.28 688.65 Td (our ) Tj ET Q q 0 0 0 rg BT 373.57 688.65 Td (contracts ) Tj ET Q q 0 0 0 rg BT 412.62 688.65 Td (is ) Tj ET Q q 0 0 0 rg BT 422.26 688.65 Td (a ) Tj ET Q q 0 0 0 rg BT 429.66 688.65 Td (critical ) Tj ET Q q 0 0 0 rg BT 460.38 688.65 Td (factor ) Tj ET Q q 0 0 0 rg BT 486.65 688.65 Td (in ) Tj ET Q q 0 0 0 rg BT 497.39 688.65 Td (determining ) Tj ET Q q 0 0 0 rg BT 548.67 688.65 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.65 Td (profitability) Tj ET Q q 0 0 0 rg BT 97.12 676.65 Td (. ) Tj ET Q q 0 0 0 rg BT 102.19 676.65 Td (The ) Tj ET Q q 0 0 0 rg BT 120.52 676.65 Td (amount ) Tj ET Q q 0 0 0 rg BT 153.29 676.65 Td (reported ) Tj ET Q q 0 0 0 rg BT 189.38 676.65 Td (under ) Tj ET Q q 0 0 0 rg BT 214.92 676.65 Td (net ) Tj ET Q q 0 0 0 rg BT 229.92 676.65 Td (claims ) Tj ET Q q 0 0 0 rg BT 258.80 676.65 Td (incurred ) Tj ET Q q 0 0 0 rg BT 294.89 676.65 Td (in ) Tj ET Q q 0 0 0 rg BT 305.44 676.65 Td (any ) Tj ET Q q 0 0 0 rg BT 322.66 676.65 Td (period ) Tj ET Q q 0 0 0 rg BT 350.98 676.65 Td (includes ) Tj ET Q q 0 0 0 rg BT 387.08 676.65 Td (payments ) Tj ET Q q 0 0 0 rg BT 428.18 676.65 Td (in ) Tj ET Q q 0 0 0 rg BT 438.73 676.65 Td (the ) Tj ET Q q 0 0 0 rg BT 453.73 676.65 Td (period ) Tj ET Q q 0 0 0 rg BT 482.05 676.65 Td (net ) Tj ET Q q 0 0 0 rg BT 497.04 676.65 Td (of ) Tj ET Q q 0 0 0 rg BT 508.15 676.65 Td (the ) Tj ET Q q 0 0 0 rg BT 523.14 676.65 Td (change ) Tj ET Q q 0 0 0 rg BT 554.23 676.65 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.65 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 664.65 Td (value ) Tj ET Q q 0 0 0 rg BT 88.87 664.65 Td (of ) Tj ET Q q 0 0 0 rg BT 99.70 664.65 Td (the ) Tj ET Q q 0 0 0 rg BT 114.42 664.65 Td (reserves ) Tj ET Q q 0 0 0 rg BT 149.68 664.65 Td (for ) Tj ET Q q 0 0 0 rg BT 163.84 664.65 Td (net ) Tj ET Q q 0 0 0 rg BT 178.55 664.65 Td (claims ) Tj ET Q q 0 0 0 rg BT 207.16 664.65 Td (incurred ) Tj ET Q q 0 0 0 rg BT 242.97 664.65 Td (between ) Tj ET Q q 0 0 0 rg BT 278.79 664.65 Td (the ) Tj ET Q q 0 0 0 rg BT 293.51 664.65 Td (beginning ) Tj ET Q q 0 0 0 rg BT 336.00 664.65 Td (and ) Tj ET Q q 0 0 0 rg BT 352.94 664.65 Td (the ) Tj ET Q q 0 0 0 rg BT 367.66 664.65 Td (end ) Tj ET Q q 0 0 0 rg BT 384.59 664.65 Td (of ) Tj ET Q q 0 0 0 rg BT 395.42 664.65 Td (the ) Tj ET Q q 0 0 0 rg BT 410.14 664.65 Td (period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.45 Td (Commissions ) Tj ET Q q 0 0 0 rg BT 107.78 641.45 Td (and ) Tj ET Q q 0 0 0 rg BT 125.55 641.45 Td (other ) Tj ET Q q 0 0 0 rg BT 149.42 641.45 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 204.41 641.45 Td (expenses ) Tj ET Q q 0 0 0 rg BT 243.83 641.45 Td (consist ) Tj ET Q q 0 0 0 rg BT 274.94 641.45 Td (principally ) Tj ET Q q 0 0 0 rg BT 321.58 641.45 Td (of ) Tj ET Q q 0 0 0 rg BT 333.24 641.45 Td (brokerage ) Tj ET Q q 0 0 0 rg BT 376.54 641.45 Td (and ) Tj ET Q q 0 0 0 rg BT 394.31 641.45 Td (agent ) Tj ET Q q 0 0 0 rg BT 419.29 641.45 Td (commissions ) Tj ET Q q 0 0 0 rg BT 474.84 641.45 Td (and ) Tj ET Q q 0 0 0 rg BT 492.61 641.45 Td (to ) Tj ET Q q 0 0 0 rg BT 503.71 641.45 Td (a ) Tj ET Q q 0 0 0 rg BT 511.48 641.45 Td (lesser ) Tj ET Q q 0 0 0 rg BT 537.57 641.45 Td (extent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.45 Td (premium ) Tj ET Q q 0 0 0 rg BT 89.17 629.45 Td (taxes. ) Tj ET Q q 0 0 0 rg BT 115.06 629.45 Td (The ) Tj ET Q q 0 0 0 rg BT 133.67 629.45 Td (brokerage ) Tj ET Q q 0 0 0 rg BT 176.72 629.45 Td (and ) Tj ET Q q 0 0 0 rg BT 194.22 629.45 Td (agent ) Tj ET Q q 0 0 0 rg BT 218.94 629.45 Td (commissions ) Tj ET Q q 0 0 0 rg BT 274.24 629.45 Td (are ) Tj ET Q q 0 0 0 rg BT 289.51 629.45 Td (reduced ) Tj ET Q q 0 0 0 rg BT 324.22 629.45 Td (by ) Tj ET Q q 0 0 0 rg BT 337.29 629.45 Td (ceding ) Tj ET Q q 0 0 0 rg BT 367.01 629.45 Td (commissions ) Tj ET Q q 0 0 0 rg BT 422.30 629.45 Td (received ) Tj ET Q q 0 0 0 rg BT 459.23 629.45 Td (from ) Tj ET Q q 0 0 0 rg BT 481.74 629.45 Td (assuming ) Tj ET Q q 0 0 0 rg BT 522.58 629.45 Td (reinsurers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 617.45 Td (that ) Tj ET Q q 0 0 0 rg BT 67.31 617.45 Td (represent ) Tj ET Q q 0 0 0 rg BT 106.27 617.45 Td (a ) Tj ET Q q 0 0 0 rg BT 113.02 617.45 Td (percentage ) Tj ET Q q 0 0 0 rg BT 158.63 617.45 Td (of ) Tj ET Q q 0 0 0 rg BT 169.28 617.45 Td (the ) Tj ET Q q 0 0 0 rg BT 183.81 617.45 Td (premiums ) Tj ET Q q 0 0 0 rg BT 226.12 617.45 Td (on ) Tj ET Q q 0 0 0 rg BT 238.43 617.45 Td (insurance ) Tj ET Q q 0 0 0 rg BT 279.06 617.45 Td (policies ) Tj ET Q q 0 0 0 rg BT 312.48 617.45 Td (and ) Tj ET Q q 0 0 0 rg BT 329.23 617.45 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 377.63 617.45 Td (contracts ) Tj ET Q q 0 0 0 rg BT 416.03 617.45 Td (written ) Tj ET Q q 0 0 0 rg BT 446.67 617.45 Td (and ) Tj ET Q q 0 0 0 rg BT 463.42 617.45 Td (vary ) Tj ET Q q 0 0 0 rg BT 483.50 617.45 Td (depending ) Tj ET Q q 0 0 0 rg BT 527.47 617.45 Td (upon ) Tj ET Q q 0 0 0 rg BT 549.79 617.45 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 605.45 Td (amount ) Tj ET Q q 0 0 0 rg BT 82.50 605.45 Td (and ) Tj ET Q q 0 0 0 rg BT 99.43 605.45 Td (types ) Tj ET Q q 0 0 0 rg BT 123.04 605.45 Td (of ) Tj ET Q q 0 0 0 rg BT 133.87 605.45 Td (contracts ) Tj ET Q q 0 0 0 rg BT 172.47 605.45 Td (written.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 581.45 Td (Other ) Tj ET Q q 0 0 0 rg BT 76.52 581.45 Td (operating ) Tj ET Q q 0 0 0 rg BT 118.04 581.45 Td (and ) Tj ET Q q 0 0 0 rg BT 136.24 581.45 Td (general ) Tj ET Q q 0 0 0 rg BT 169.41 581.45 Td (expenses ) Tj ET Q q 0 0 0 rg BT 209.27 581.45 Td (consist ) Tj ET Q q 0 0 0 rg BT 240.80 581.45 Td (primarily ) Tj ET Q q 0 0 0 rg BT 281.77 581.45 Td (of ) Tj ET Q q 0 0 0 rg BT 293.85 581.45 Td (personnel ) Tj ET Q q 0 0 0 rg BT 336.48 581.45 Td (expenses ) Tj ET Q q 0 0 0 rg BT 376.34 581.45 Td (\(including ) Tj ET Q q 0 0 0 rg BT 421.20 581.45 Td (salaries, ) Tj ET Q q 0 0 0 rg BT 457.44 581.45 Td (benefits ) Tj ET Q q 0 0 0 rg BT 492.85 581.45 Td (and ) Tj ET Q q 0 0 0 rg BT 511.04 581.45 Td (certain ) Tj ET Q q 0 0 0 rg BT 542.00 581.45 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 569.45 Td (associated ) Tj ET Q q 0 0 0 rg BT 93.82 569.45 Td (with ) Tj ET Q q 0 0 0 rg BT 114.32 569.45 Td (awards ) Tj ET Q q 0 0 0 rg BT 145.36 569.45 Td (under ) Tj ET Q q 0 0 0 rg BT 170.85 569.45 Td (our ) Tj ET Q q 0 0 0 rg BT 186.90 569.45 Td (equity ) Tj ET Q q 0 0 0 rg BT 214.62 569.45 Td (compensation ) Tj ET Q q 0 0 0 rg BT 272.88 569.45 Td (plans, ) Tj ET Q q 0 0 0 rg BT 299.21 569.45 Td (such ) Tj ET Q q 0 0 0 rg BT 320.27 569.45 Td (as ) Tj ET Q q 0 0 0 rg BT 331.32 569.45 Td (stock ) Tj ET Q q 0 0 0 rg BT 355.15 569.45 Td (compensation ) Tj ET Q q 0 0 0 rg BT 413.41 569.45 Td (expense\) ) Tj ET Q q 0 0 0 rg BT 451.67 569.45 Td (and ) Tj ET Q q 0 0 0 rg BT 468.83 569.45 Td (other ) Tj ET Q q 0 0 0 rg BT 492.10 569.45 Td (general ) Tj ET Q q 0 0 0 rg BT 524.25 569.45 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 557.45 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 90.48 557.45 Td (Because ) Tj ET Q q 0 0 0 rg BT 125.67 557.45 Td (a ) Tj ET Q q 0 0 0 rg BT 131.99 557.45 Td (portion ) Tj ET Q q 0 0 0 rg BT 162.76 557.45 Td (of ) Tj ET Q q 0 0 0 rg BT 172.97 557.45 Td (our ) Tj ET Q q 0 0 0 rg BT 188.18 557.45 Td (personnel ) Tj ET Q q 0 0 0 rg BT 228.94 557.45 Td (expenses ) Tj ET Q q 0 0 0 rg BT 266.91 557.45 Td (are ) Tj ET Q q 0 0 0 rg BT 281.00 557.45 Td (relatively ) Tj ET Q q 0 0 0 rg BT 320.64 557.45 Td (fixed ) Tj ET Q q 0 0 0 rg BT 343.07 557.45 Td (in ) Tj ET Q q 0 0 0 rg BT 352.72 557.45 Td (nature, ) Tj ET Q q 0 0 0 rg BT 382.09 557.45 Td (increased ) Tj ET Q q 0 0 0 rg BT 421.72 557.45 Td (writings ) Tj ET Q q 0 0 0 rg BT 456.38 557.45 Td (will ) Tj ET Q q 0 0 0 rg BT 473.82 557.45 Td (improve ) Tj ET Q q 0 0 0 rg BT 509.02 557.45 Td (our ) Tj ET Q q 0 0 0 rg BT 524.23 557.45 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 545.45 Td (scale ) Tj ET Q q 0 0 0 rg BT 72.49 545.45 Td (and ) Tj ET Q q 0 0 0 rg BT 89.42 545.45 Td (will ) Tj ET Q q 0 0 0 rg BT 107.48 545.45 Td (lead ) Tj ET Q q 0 0 0 rg BT 126.64 545.45 Td (to ) Tj ET Q q 0 0 0 rg BT 136.91 545.45 Td (reduced ) Tj ET Q q 0 0 0 rg BT 171.06 545.45 Td (operating ) Tj ET Q q 0 0 0 rg BT 211.32 545.45 Td (expense ) Tj ET Q q 0 0 0 rg BT 246.03 545.45 Td (ratios.) Tj ET Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (II. ) Tj ET Q q 0 0 0 rg BT 62.78 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 65.283203125 740.68505859375 m 227.05078125 740.68505859375 l s q 0 0 0 rg BT 65.28 742.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 125.11 742.25 Td (TED ) Tj ET Q q 0 0 0 rg BT 148.17 742.25 Td (PERFORMANCE) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 720.25 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.00 720.25 Td ( ) Tj ET Q q 0 0 0 rg BT 72.50 720.25 Td (Full ) Tj ET Q q 0 0 0 rg BT 91.86 720.25 Td (Y) Tj ET Q q 0 0 0 rg BT 97.97 720.25 Td (ear) Tj ET Q q 0 0 0 rg BT 111.67 720.25 Td ( ) Tj ET Q q 0 0 0 rg BT 114.17 720.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 156.67 720.25 Td (Performance ) Tj ET Q q 0 0 0 rg BT 214.69 720.25 Td (Summary ) Tj ET Q q 0 0 0 rg BT 259.41 720.25 Td (\(comparisons ) Tj ET Q q 0 0 0 rg BT 319.14 720.25 Td (to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.97 720.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.97 720.25 Td ( ) Tj ET Q q 0 0 0 rg BT 352.47 720.25 Td (unless ) Tj ET Q q 0 0 0 rg BT 381.09 720.25 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 424.69 720.25 Td (noted\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 708.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 708.25 Td (Gr) Tj ET Q q 0 0 0 rg BT 98.04 708.25 Td (oss ) Tj ET Q q 0 0 0 rg BT 114.10 708.25 Td (pr) Tj ET Q q 0 0 0 rg BT 123.92 708.25 Td (emium ) Tj ET Q q 0 0 0 rg BT 156.63 708.25 Td (written ) Tj ET Q q 0 0 0 rg BT 191.01 708.25 Td (incr) Tj ET Q q 0 0 0 rg BT 208.05 708.25 Td (eased ) Tj ET Q q 0 0 0 rg BT 234.65 708.25 Td (by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.49 708.25 Td (31.6%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.99 708.25 Td ( ) Tj ET Q q 0 0 0 rg BT 279.27 708.25 Td (fr) Tj ET Q q 0 0 0 rg BT 286.86 708.25 Td (om ) Tj ET Q q 0 0 0 rg BT 303.47 708.25 Td (the ) Tj ET Q q 0 0 0 rg BT 320.07 708.25 Td (prior) Tj ET Q q 0 0 0 rg BT 342.11 708.25 Td ( ) Tj ET Q q 0 0 0 rg BT 345.39 708.25 Td (year) Tj ET Q q 0 0 0 rg BT 364.08 708.25 Td ( ) Tj ET Q q 0 0 0 rg BT 367.36 708.25 Td (to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.97 708.25 Td ($122.4 ) Tj ET Q q 0 0 0 rg BT 409.75 708.25 Td (million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.75 708.25 Td (, ) Tj ET Q q 0 0 0 rg BT 445.53 708.25 Td (with ) Tj ET Q q 0 0 0 rg BT 467.70 708.25 Td (an ) Tj ET Q q 0 0 0 rg BT 481.54 708.25 Td (incr) Tj ET Q q 0 0 0 rg BT 498.58 708.25 Td (ease ) Tj ET Q q 0 0 0 rg BT 519.62 708.25 Td (of ) Tj ET Q q 0 0 0 rg BT 531.23 708.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.51 708.25 Td (35.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.01 708.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 696.25 Td (r) Tj ET Q q 0 0 0 rg BT 90.26 696.25 Td (elated ) Tj ET Q q 0 0 0 rg BT 118.30 696.25 Td (to ) Tj ET Q q 0 0 0 rg BT 129.13 696.25 Td (cor) Tj ET Q q 0 0 0 rg BT 142.83 696.25 Td (e ) Tj ET Q q 0 0 0 rg BT 149.77 696.25 Td (lines ) Tj ET Q q 0 0 0 rg BT 171.72 696.25 Td (of ) Tj ET Q q 0 0 0 rg BT 182.55 696.25 Td (business) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 682.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 682.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.45 682.25 Td (e ) Tj ET Q q 0 0 0 rg BT 102.39 682.25 Td (actively ) Tj ET Q q 0 0 0 rg BT 137.65 682.25 Td (marketed ) Tj ET Q q 0 0 0 rg BT 181.25 682.25 Td (our) Tj ET Q q 0 0 0 rg BT 196.07 682.25 Td ( ) Tj ET Q q 0 0 0 rg BT 198.57 682.25 Td (cor) Tj ET Q q 0 0 0 rg BT 212.26 682.25 Td (e ) Tj ET Q q 0 0 0 rg BT 219.20 682.25 Td (pr) Tj ET Q q 0 0 0 rg BT 229.02 682.25 Td (oducts ) Tj ET Q q 0 0 0 rg BT 259.31 682.25 Td (in ) Tj ET Q q 0 0 0 rg BT 270.15 682.25 Td (40 ) Tj ET Q q 0 0 0 rg BT 282.65 682.25 Td (states ) Tj ET Q q 0 0 0 rg BT 309.03 682.25 Td (and ) Tj ET Q q 0 0 0 rg BT 327.65 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 343.48 682.25 Td (District ) Tj ET Q q 0 0 0 rg BT 378.19 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 389.02 682.25 Td (Columbia ) Tj ET Q q 0 0 0 rg BT 433.75 682.25 Td (during ) Tj ET Q q 0 0 0 rg BT 465.15 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 480.98 682.25 Td (year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 668.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 668.25 Td (The ) Tj ET Q q 0 0 0 rg BT 104.98 668.25 Td (combined ) Tj ET Q q 0 0 0 rg BT 148.97 668.25 Td (ratio ) Tj ET Q q 0 0 0 rg BT 171.83 668.25 Td (impr) Tj ET Q q 0 0 0 rg BT 192.75 668.25 Td (oved ) Tj ET Q q 0 0 0 rg BT 215.07 668.25 Td (by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.94 668.25 Td (3.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.44 668.25 Td ( ) Tj ET Q q 0 0 0 rg BT 242.76 668.25 Td (per) Tj ET Q q 0 0 0 rg BT 257.01 668.25 Td (centage ) Tj ET Q q 0 0 0 rg BT 291.54 668.25 Td (points ) Tj ET Q q 0 0 0 rg BT 319.97 668.25 Td (to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.62 668.25 Td (90.7%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.12 668.25 Td ( ) Tj ET Q q 0 0 0 rg BT 360.43 668.25 Td (on ) Tj ET Q q 0 0 0 rg BT 373.30 668.25 Td (a ) Tj ET Q q 0 0 0 rg BT 380.62 668.25 Td (full ) Tj ET Q q 0 0 0 rg BT 397.38 668.25 Td (year) Tj ET Q q 0 0 0 rg BT 416.08 668.25 Td ( ) Tj ET Q q 0 0 0 rg BT 418.39 668.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 441.83 668.25 Td (and ) Tj ET Q q 0 0 0 rg BT 460.26 668.25 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.69 668.25 Td (88.4%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.19 668.25 Td ( ) Tj ET Q q 0 0 0 rg BT 508.50 668.25 Td (in ) Tj ET Q q 0 0 0 rg BT 519.16 668.25 Td (the ) Tj ET Q q 0 0 0 rg BT 534.80 668.25 Td (fourth ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 656.25 Td (quarter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 642.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 642.25 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 146.83 642.25 Td (r) Tj ET Q q 0 0 0 rg BT 151.09 642.25 Td (esults ) Tj ET Q q 0 0 0 rg BT 177.48 642.25 Td (impr) Tj ET Q q 0 0 0 rg BT 198.41 642.25 Td (oved ) Tj ET Q q 0 0 0 rg BT 220.91 642.25 Td (by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 233.97 642.25 Td ($5.2 ) Tj ET Q q 0 0 0 rg BT 253.97 642.25 Td (million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.97 642.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 628.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 628.25 Td (Operating ) Tj ET Q q 0 0 0 rg BT 131.92 628.25 Td (income ) Tj ET Q q 0 0 0 rg BT 164.50 628.25 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.64 628.25 Td ($12.2 ) Tj ET Q q 0 0 0 rg BT 207.17 628.25 Td (million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.18 628.25 Td ( ) Tj ET Q q 0 0 0 rg BT 239.21 628.25 Td (or) Tj ET Q q 0 0 0 rg BT 248.47 628.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.50 628.25 Td ($1.08) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.00 628.25 Td ( ) Tj ET Q q 0 0 0 rg BT 275.03 628.25 Td ( ) Tj ET Q q 0 0 0 rg BT 277.06 628.25 Td (diluted ) Tj ET Q q 0 0 0 rg BT 309.10 628.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 347.80 628.25 Td (per) Tj ET Q q 0 0 0 rg BT 362.06 628.25 Td ( ) Tj ET Q q 0 0 0 rg BT 364.09 628.25 Td (common ) Tj ET Q q 0 0 0 rg BT 402.78 628.25 Td (shar) Tj ET Q q 0 0 0 rg BT 421.49 628.25 Td (e, ) Tj ET Q q 0 0 0 rg BT 430.46 628.25 Td (an ) Tj ET Q q 0 0 0 rg BT 443.06 628.25 Td (impr) Tj ET Q q 0 0 0 rg BT 463.98 628.25 Td (ovement ) Tj ET Q q 0 0 0 rg BT 502.11 628.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.47 628.25 Td ($6.1 ) Tj ET Q q 0 0 0 rg BT 532.01 628.25 Td (million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.01 628.25 Td ( ) Tj ET Q q 0 0 0 rg BT 564.51 628.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 616.25 Td (or) Tj ET Q q 0 0 0 rg BT 95.26 616.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 97.76 616.25 Td ($0.52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.26 616.25 Td ( ) Tj ET Q q 0 0 0 rg BT 122.76 616.25 Td (diluted ) Tj ET Q q 0 0 0 rg BT 155.27 616.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 194.44 616.25 Td (per) Tj ET Q q 0 0 0 rg BT 208.70 616.25 Td ( ) Tj ET Q q 0 0 0 rg BT 211.20 616.25 Td (common ) Tj ET Q q 0 0 0 rg BT 250.36 616.25 Td (shar) Tj ET Q q 0 0 0 rg BT 269.07 616.25 Td (e ) Tj ET Q q 0 0 0 rg BT 276.00 616.25 Td (fr) Tj ET Q q 0 0 0 rg BT 283.59 616.25 Td (om ) Tj ET Q q 0 0 0 rg BT 299.42 616.25 Td (the ) Tj ET Q q 0 0 0 rg BT 315.25 616.25 Td (prior) Tj ET Q q 0 0 0 rg BT 337.29 616.25 Td ( ) Tj ET Q q 0 0 0 rg BT 339.79 616.25 Td (year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 602.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 602.25 Td (Operating ) Tj ET Q q 0 0 0 rg BT 132.39 602.25 Td (income ) Tj ET Q q 0 0 0 rg BT 165.43 602.25 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.05 602.25 Td ($4.0 ) Tj ET Q q 0 0 0 rg BT 204.05 602.25 Td (million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.05 602.25 Td ( ) Tj ET Q q 0 0 0 rg BT 236.55 602.25 Td (or) Tj ET Q q 0 0 0 rg BT 245.81 602.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.31 602.25 Td ($0.33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.81 602.25 Td ( ) Tj ET Q q 0 0 0 rg BT 273.31 602.25 Td (diluted ) Tj ET Q q 0 0 0 rg BT 305.82 602.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 344.99 602.25 Td (per) Tj ET Q q 0 0 0 rg BT 359.25 602.25 Td ( ) Tj ET Q q 0 0 0 rg BT 361.75 602.25 Td (common ) Tj ET Q q 0 0 0 rg BT 400.91 602.25 Td (shar) Tj ET Q q 0 0 0 rg BT 419.62 602.25 Td (e ) Tj ET Q q 0 0 0 rg BT 426.56 602.25 Td (in ) Tj ET Q q 0 0 0 rg BT 437.40 602.25 Td (the ) Tj ET Q q 0 0 0 rg BT 453.23 602.25 Td (fourth ) Tj ET Q q 0 0 0 rg BT 482.95 602.25 Td (quarter) Tj ET Q q 0 0 0 rg BT 515.54 602.25 Td ( ) Tj ET Q q 0 0 0 rg BT 518.04 602.25 Td (of ) Tj ET Q q 0 0 0 rg BT 528.87 602.25 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 588.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 588.25 Td (The ) Tj ET Q q 0 0 0 rg BT 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rg BT 489.99 588.25 Td ( ) Tj ET Q q 0 0 0 rg BT 492.66 588.25 Td (diluted ) Tj ET Q q 0 0 0 rg BT 525.34 588.25 Td (earnings ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 576.25 Td (per) Tj ET Q q 0 0 0 rg BT 100.26 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 102.76 576.25 Td (common ) Tj ET Q q 0 0 0 rg BT 141.92 576.25 Td (shar) Tj ET Q q 0 0 0 rg BT 160.63 576.25 Td (e ) Tj ET Q q 0 0 0 rg BT 167.57 576.25 Td (for) Tj ET Q q 0 0 0 rg BT 180.16 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 182.66 576.25 Td (the ) Tj ET Q q 0 0 0 rg BT 198.49 576.25 Td (full ) Tj ET Q q 0 0 0 rg BT 215.43 576.25 Td (year) Tj ET Q q 0 0 0 rg BT 234.13 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 236.63 576.25 Td (of ) Tj ET Q q 0 0 0 rg BT 247.46 576.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 562.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 562.25 Td (Net ) Tj ET Q q 0 0 0 rg BT 103.49 562.25 Td (income ) Tj ET Q q 0 0 0 rg BT 136.54 562.25 Td (for) Tj ET Q q 0 0 0 rg BT 149.13 562.25 Td ( ) Tj 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l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 437.75 m 540.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 347.75 m 431.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 347.75 m 445.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 347.75 m 540.5 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 317.75 m 431.5 317.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 317.75 m 445.5 317.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 317.75 m 540.5 317.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 272.75 m 431.5 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 272.75 m 445.5 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 272.75 m 540.5 272.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 272.75 m 431.5 272.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 336.5 242.75 m 431.5 242.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 242.75 m 445.5 242.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445.5 242.75 m 540.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 227.75 m 431.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 227.75 m 445.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 227.75 m 540.5 227.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.90 453.53 Td (Year Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.15 442.48 Td (December 31, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 442.48 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 427.42 Td (Gross premium written) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 427.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.15 427.42 Td (122,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 427.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.15 427.42 Td (93,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 412.42 Td (Net premium earned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 412.42 Td (98,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.15 412.42 Td (71,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 397.42 Td (Losses on claims) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 397.42 Td (61,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.15 397.42 Td (45,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 382.42 Td (Acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 382.42 Td (14,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.15 382.42 Td (10,373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 367.42 Td (Other underwriting expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 367.42 Td (13,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.15 367.42 Td (11,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 352.42 Td (Underwriting expenses related to the integration of acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 352.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 352.42 Td (337) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 337.43 Td (Net underwriting income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 337.42 Td (9,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.15 337.42 Td (3,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 322.42 Td (Net investment income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 322.42 Td (3,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.15 322.42 Td (2,141) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 307.43 Td (Income from operating activities, before tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 307.42 Td (12,245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.15 307.42 Td (6,116) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 292.42 Td (Less: Legal/professional fees incurred related to acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 292.42 Td (694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 292.42 Td (406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 277.42 Td (Add: Realized gains and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 277.42 Td (384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 277.42 Td (542) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 262.43 Td (Income before tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 262.42 Td (11,935) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.15 262.42 Td (6,252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 247.42 Td (Income tax \(benefit\) expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.80 247.47 Td (\(5,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 247.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.65 247.42 Td (72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 232.43 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 232.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 232.42 Td (17,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 232.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.15 232.42 Td (6,180) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 214.43 Td (Key Financial Ratios:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 199.42 Td (Loss ratio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 199.42 Td (62.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 199.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 199.42 Td (63.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 199.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 184.42 Td (Acquisition cost ratio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 184.42 Td (14.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 184.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 184.42 Td (14.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 184.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 169.42 Td (Other underwriting expense ratio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 169.42 Td (14.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 169.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 169.42 Td (16.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 169.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 154.42 Td (Combined ratio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 154.42 Td (90.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 154.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 154.42 Td (94.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 154.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 139.42 Td (Return on equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 139.42 Td (20.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 139.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 139.42 Td (10.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 139.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 124.42 Td (Return on common equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 124.42 Td (20.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 124.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 124.42 Td (10.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 124.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 109.42 Td (Operating income per common share, diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 109.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 109.42 Td (1.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 109.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 109.42 Td (0.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 94.42 Td (Earnings per common share, diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 94.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 94.42 Td (1.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 94.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 94.42 Td (0.74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 79.42 Td (Book value per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 79.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 79.42 Td (9.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 79.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 79.42 Td (6.54) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (Operating ) Tj ET Q q 0 0 0 rg BT 92.65 58.25 Td (income ) Tj ET Q q 0 0 0 rg BT 124.75 58.25 Td (is ) Tj ET Q q 0 0 0 rg BT 134.08 58.25 Td (an ) Tj ET Q q 0 0 0 rg BT 146.19 58.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 179.39 58.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 232.58 58.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 268.56 58.25 Td (used ) Tj ET Q q 0 0 0 rg BT 289.56 58.25 Td (in ) Tj ET Q q 0 0 0 rg BT 300.00 58.25 Td (the ) Tj ET Q q 0 0 0 rg BT 314.88 58.25 Td (management ) Tj ET Q q 0 0 0 rg BT 368.64 58.25 Td (of ) Tj ET Q q 0 0 0 rg BT 379.63 58.25 Td (the ) Tj ET Q q 0 0 0 rg BT 394.51 58.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 441.76 58.25 Td (operations. ) Tj ET Q q 0 0 0 rg BT 488.58 58.25 Td (It ) Tj ET Q q 0 0 0 rg BT 497.35 58.25 Td (represents ) Tj ET Q q 0 0 0 rg BT 540.55 58.25 Td (after) Tj ET Q q 0 0 0 rg BT 558.67 58.25 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 64.95 46.25 Td (operational ) Tj ET Q q 0 0 0 rg BT 112.67 46.25 Td (results ) Tj ET Q q 0 0 0 rg BT 141.52 46.25 Td (excluding, ) Tj ET Q q 0 0 0 rg BT 186.19 46.25 Td (as ) Tj ET Q q 0 0 0 rg BT 197.25 46.25 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 243.58 46.25 Td (net ) Tj ET Q q 0 0 0 rg BT 258.53 46.25 Td (realized ) Tj ET Q q 0 0 0 rg BT 292.91 46.25 Td (gains ) Tj ET Q q 0 0 0 rg BT 316.76 46.25 Td (or ) Tj ET Q q 0 0 0 rg BT 327.82 46.25 Td (losses, ) Tj ET Q q 0 0 0 rg BT 356.95 46.25 Td (net ) Tj ET Q q 0 0 0 rg BT 371.90 46.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 420.74 46.25 Td (char) Tj ET Q q 0 0 0 rg BT 437.77 46.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 453.83 46.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 500.43 46.25 Td (in ) Tj ET Q q 0 0 0 rg BT 510.95 46.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 547.56 46.25 Td (and ) Tj ET Q endstream endobj 67 0 obj <> endobj 68 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (other ) Tj ET Q q 0 0 0 rg BT 73.58 742.10 Td (items. ) Tj ET Q q 0 0 0 rg BT 100.56 742.10 Td (These ) Tj ET Q q 0 0 0 rg BT 127.47 742.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 164.39 742.10 Td (are ) Tj ET Q q 0 0 0 rg BT 179.62 742.10 Td (more ) Tj ET Q q 0 0 0 rg BT 203.20 742.10 Td (heavily ) Tj ET Q q 0 0 0 rg BT 235.67 742.10 Td (influenced ) Tj ET Q q 0 0 0 rg BT 280.90 742.10 Td (by ) Tj ET Q q 0 0 0 rg BT 293.94 742.10 Td (market ) Tj ET Q q 0 0 0 rg BT 324.73 742.10 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 380.54 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 398.01 742.10 Td (other ) Tj ET Q q 0 0 0 rg BT 421.59 742.10 Td (external ) Tj ET Q q 0 0 0 rg BT 456.82 742.10 Td (factors. ) Tj ET Q q 0 0 0 rg BT 489.56 742.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 532.58 742.10 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (should ) Tj ET Q q 0 0 0 rg BT 79.17 730.10 Td (not ) Tj ET Q q 0 0 0 rg BT 94.45 730.10 Td (be ) Tj ET Q q 0 0 0 rg BT 106.39 730.10 Td (viewed ) Tj ET Q q 0 0 0 rg BT 137.76 730.10 Td (as ) Tj ET Q q 0 0 0 rg BT 148.59 730.10 Td (a ) Tj ET Q q 0 0 0 rg BT 155.53 730.10 Td (substitute ) Tj ET Q q 0 0 0 rg BT 196.37 730.10 Td (for ) Tj ET Q q 0 0 0 rg BT 210.53 730.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 230.81 730.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 257.67 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 260.17 730.10 Td (net ) Tj ET Q q 0 0 0 rg BT 274.88 730.10 Td (income. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 713.10 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.00 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 72.50 713.10 Td (compar) Tj ET Q q 0 0 0 rg BT 105.09 713.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 117.59 713.10 Td (to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 128.42 713.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.42 713.10 Td (:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 696.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 73.70 696.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.52 696.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 118.78 696.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 139.94 696.10 Td (for ) Tj ET Q q 0 0 0 rg BT 154.42 696.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.47 696.10 Td (year ) Tj ET Q q 0 0 0 rg BT 189.50 696.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 216.21 696.10 Td (December ) Tj ET Q q 0 0 0 rg BT 260.12 696.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 275.44 696.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.44 696.10 Td ( ) Tj ET Q q 0 0 0 rg BT 298.27 696.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 696.10 Td (90.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.48 696.10 Td (, ) Tj ET Q q 0 0 0 rg BT 347.81 696.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 390.06 696.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.66 696.10 Td (94.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.49 696.10 Td ( ) Tj ET Q q 0 0 0 rg BT 429.32 696.10 Td (for ) Tj ET Q q 0 0 0 rg BT 443.81 696.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.85 696.10 Td (year ) Tj ET Q q 0 0 0 rg BT 478.89 696.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 505.59 696.10 Td (December ) Tj ET Q q 0 0 0 rg BT 549.50 696.10 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 684.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 684.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 667.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 667.10 Td (e ) Tj ET Q q 0 0 0 rg BT 66.10 667.10 Td (achieved ) Tj ET Q q 0 0 0 rg BT 104.66 667.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 150.46 667.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 189.59 667.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 220.95 667.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 261.19 667.10 Td (through ) Tj ET Q q 0 0 0 rg BT 295.33 667.10 Td (or) Tj ET Q q 0 0 0 rg BT 303.48 667.10 Td (ganic ) Tj ET Q q 0 0 0 rg BT 328.16 667.10 Td (vertical ) Tj ET Q q 0 0 0 rg BT 361.17 667.10 Td (expansion ) Tj ET Q q 0 0 0 rg BT 404.74 667.10 Td (of ) Tj ET Q q 0 0 0 rg BT 416.10 667.10 Td (core ) Tj ET Q q 0 0 0 rg BT 436.33 667.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 458.25 667.10 Td (of ) Tj ET Q q 0 0 0 rg BT 469.60 667.10 Td (business ) Tj ET Q q 0 0 0 rg BT 506.52 667.10 Td (written ) Tj ET Q q 0 0 0 rg BT 537.88 667.10 Td (in ) Tj ET Q q 0 0 0 rg BT 548.68 667.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 655.10 Td (tar) Tj ET Q q 0 0 0 rg BT 60.37 655.10 Td (get ) Tj ET Q q 0 0 0 rg BT 75.77 655.10 Td (markets. ) Tj ET Q q 0 0 0 rg BT 112.88 655.10 Td (There ) Tj ET Q q 0 0 0 rg BT 139.38 655.10 Td (was ) Tj ET Q q 0 0 0 rg BT 158.12 655.10 Td (an ) Tj ET Q q 0 0 0 rg BT 170.74 655.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 206.68 655.10 Td (in ) Tj ET Q q 0 0 0 rg BT 217.65 655.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 241.95 655.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 281.24 655.10 Td (written ) Tj ET Q q 0 0 0 rg BT 312.75 655.10 Td (related ) Tj ET Q q 0 0 0 rg BT 343.14 655.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.10 655.10 Td (core ) Tj ET Q q 0 0 0 rg BT 374.49 655.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 424.88 655.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 446.95 655.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.47 655.10 Td (35.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.30 655.10 Td ( ) Tj ET Q q 0 0 0 rg BT 487.48 655.10 Td (for ) Tj ET Q q 0 0 0 rg BT 502.33 655.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.73 655.10 Td (year ) Tj ET Q q 0 0 0 rg BT 538.12 655.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 643.10 Td (December ) Tj ET Q q 0 0 0 rg BT 92.42 643.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 106.26 643.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.26 643.10 Td ( ) Tj ET Q q 0 0 0 rg BT 127.60 643.10 Td (as ) Tj ET Q q 0 0 0 rg BT 137.27 643.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 178.03 643.10 Td (to ) Tj ET Q q 0 0 0 rg BT 187.14 643.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.70 643.10 Td (year ) Tj ET Q q 0 0 0 rg BT 219.24 643.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 244.46 643.10 Td (December ) Tj ET Q q 0 0 0 rg BT 286.88 643.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 300.72 643.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.72 643.10 Td (. ) Tj ET Q q 0 0 0 rg BT 324.56 643.10 Td ( ) Tj ET Q q 0 0 0 rg BT 325.80 643.10 Td (When ) Tj ET Q q 0 0 0 rg BT 351.01 643.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 391.78 643.10 Td (our ) Tj ET Q q 0 0 0 rg BT 406.45 643.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 433.89 643.10 Td (taxi ) Tj ET Q q 0 0 0 rg BT 450.22 643.10 Td (program, ) Tj ET Q q 0 0 0 rg BT 487.94 643.10 Td (which ) Tj ET Q q 0 0 0 rg BT 513.71 643.10 Td (experienced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.53 631.10 Td (modest ) Tj ET Q q 0 0 0 rg BT 87.51 631.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 122.36 631.10 Td (in ) Tj ET Q q 0 0 0 rg BT 132.24 631.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 155.44 631.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 193.64 631.10 Td (written, ) Tj ET Q q 0 0 0 rg BT 226.56 631.10 Td (for ) Tj ET Q q 0 0 0 rg BT 240.32 631.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.63 631.10 Td (year ) Tj ET Q q 0 0 0 rg BT 273.93 631.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 299.90 631.10 Td (December ) Tj ET Q q 0 0 0 rg BT 343.08 631.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 357.68 631.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.68 631.10 Td (, ) Tj ET Q q 0 0 0 rg BT 382.27 631.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 405.48 631.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 443.68 631.10 Td (written ) Tj ET Q q 0 0 0 rg BT 474.10 631.10 Td (on ) Tj ET Q q 0 0 0 rg BT 486.19 631.10 Td (our ) Tj ET Q q 0 0 0 rg BT 501.62 631.10 Td (traditional ) Tj ET Q q 0 0 0 rg BT 544.81 631.10 Td (core ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 71.73 619.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 112.32 619.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.17 619.10 Td (40.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 619.10 Td ( ) Tj ET Q q 0 0 0 rg BT 153.84 619.10 Td (as ) Tj ET Q q 0 0 0 rg BT 165.01 619.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 207.28 619.10 Td (to ) Tj ET Q q 0 0 0 rg BT 217.90 619.10 Td (the ) Tj ET Q q 0 0 0 rg BT 232.95 619.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 255.23 619.10 Td (year) Tj ET Q q 0 0 0 rg BT 271.89 619.10 Td (. ) Tj ET Q q 0 0 0 rg BT 277.03 619.10 Td (The ) Tj ET Q q 0 0 0 rg BT 295.41 619.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 326.58 619.10 Td (activity ) Tj ET Q q 0 0 0 rg BT 359.41 619.10 Td (and ) Tj ET Q q 0 0 0 rg BT 376.69 619.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 405.64 619.10 Td (initiatives ) Tj ET Q q 0 0 0 rg BT 447.92 619.10 Td (were ) Tj ET Q q 0 0 0 rg BT 470.19 619.10 Td (the ) Tj ET Q q 0 0 0 rg BT 485.25 619.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 519.75 619.10 Td (drivers ) Tj ET Q q 0 0 0 rg BT 550.36 619.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 68.01 607.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 88.79 607.10 Td (improvement ) Tj ET Q q 0 0 0 rg BT 144.56 607.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.80 607.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.80 607.10 Td (. ) Tj ET Q q 0 0 0 rg BT 179.57 607.10 Td (The ) Tj ET Q q 0 0 0 rg BT 197.57 607.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 227.79 607.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 245.80 607.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 266.58 607.10 Td (for ) Tj ET Q q 0 0 0 rg BT 280.69 607.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.36 607.10 Td (year ) Tj ET Q q 0 0 0 rg BT 315.02 607.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 341.35 607.10 Td (December ) Tj ET Q q 0 0 0 rg BT 384.89 607.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 399.84 607.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.84 607.10 Td ( ) Tj ET Q q 0 0 0 rg BT 422.29 607.10 Td (improved ) Tj ET Q q 0 0 0 rg BT 463.07 607.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.30 607.10 Td (62.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.13 607.10 Td ( ) Tj ET Q q 0 0 0 rg BT 501.58 607.10 Td (as ) Tj ET Q q 0 0 0 rg BT 512.37 607.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 554.24 607.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.10 Td (63.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.83 595.10 Td ( ) Tj ET Q q 0 0 0 rg BT 78.33 595.10 Td (in ) Tj ET Q q 0 0 0 rg BT 88.61 595.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.33 595.10 Td (year ) Tj ET Q q 0 0 0 rg BT 123.03 595.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 149.41 595.10 Td (December ) Tj ET Q q 0 0 0 rg BT 192.99 595.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 207.99 595.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.99 595.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 578.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.20 578.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 114.16 578.10 Td (net ) Tj ET Q q 0 0 0 rg BT 128.46 578.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 174.44 578.10 Td (income ) Tj ET Q q 0 0 0 rg BT 205.96 578.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.39 578.10 Td ($3.1 ) Tj ET Q q 0 0 0 rg BT 235.98 578.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.87 578.10 Td ( ) Tj ET Q q 0 0 0 rg BT 266.96 578.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.49 578.10 Td ($2.1 ) Tj ET Q q 0 0 0 rg BT 303.09 578.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.98 578.10 Td ( ) Tj ET Q q 0 0 0 rg BT 334.07 578.10 Td (for ) Tj ET Q q 0 0 0 rg BT 347.82 578.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.13 578.10 Td (years ) Tj ET Q q 0 0 0 rg BT 385.32 578.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 411.29 578.10 Td (December ) Tj ET Q q 0 0 0 rg BT 454.47 578.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 469.06 578.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 491.15 578.10 Td (and ) Tj ET Q q 0 0 0 rg BT 507.68 578.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.68 578.10 Td (, ) Tj ET Q q 0 0 0 rg BT 532.28 578.10 Td ( ) Tj ET Q q 0 0 0 rg BT 534.37 578.10 Td (as ) Tj ET Q q 0 0 0 rg BT 544.79 578.10 Td (well ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 566.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.63 566.10 Td ($382,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.13 566.10 Td ( ) Tj ET Q q 0 0 0 rg BT 100.43 566.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.17 566.10 Td ($529,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.67 566.10 Td ( ) Tj ET Q q 0 0 0 rg BT 156.97 566.10 Td (of ) Tj ET Q q 0 0 0 rg BT 167.60 566.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 201.55 566.10 Td (gains, ) Tj ET Q q 0 0 0 rg BT 227.46 566.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 275.12 566.10 Td (. ) Tj ET Q q 0 0 0 rg BT 279.75 566.10 Td (This ) Tj ET Q q 0 0 0 rg BT 299.83 566.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 333.79 566.10 Td (in ) Tj ET Q q 0 0 0 rg BT 343.87 566.10 Td (an ) Tj ET Q q 0 0 0 rg BT 355.61 566.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 385.67 566.10 Td (annualized ) Tj ET Q q 0 0 0 rg BT 431.28 566.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 477.47 566.10 Td (yield ) Tj ET Q q 0 0 0 rg BT 499.76 566.10 Td (of ) Tj ET Q q 0 0 0 rg BT 510.40 566.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.70 566.10 Td (2.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.53 566.10 Td ( ) Tj ET Q q 0 0 0 rg BT 535.83 566.10 Td (for ) Tj ET Q q 0 0 0 rg BT 549.79 566.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 554.10 Td (year ) Tj ET Q q 0 0 0 rg BT 69.71 554.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 96.08 554.10 Td (December ) Tj ET Q q 0 0 0 rg BT 139.67 554.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 154.67 554.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.67 554.10 Td (, ) Tj ET Q q 0 0 0 rg BT 179.67 554.10 Td (an ) Tj ET Q q 0 0 0 rg BT 191.61 554.10 Td (improvement ) Tj ET Q q 0 0 0 rg BT 247.43 554.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.26 554.10 Td (0.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.09 554.10 Td ( ) Tj ET Q q 0 0 0 rg BT 281.59 554.10 Td (over ) Tj ET Q q 0 0 0 rg BT 301.86 554.10 Td (2013.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 537.10 Td (Overall, ) Tj ET Q q 0 0 0 rg BT 84.59 537.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 108.39 537.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 149.95 537.10 Td (net ) Tj ET Q q 0 0 0 rg BT 164.86 537.10 Td (income ) Tj ET Q q 0 0 0 rg BT 197.00 537.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.02 537.10 Td ($17.7 ) Tj ET Q q 0 0 0 rg BT 233.22 537.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.11 537.10 Td ( ) Tj ET Q q 0 0 0 rg BT 264.81 537.10 Td (for ) Tj ET Q q 0 0 0 rg BT 279.16 537.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.08 537.10 Td (year ) Tj ET Q q 0 0 0 rg BT 313.98 537.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 340.56 537.10 Td (December ) Tj ET Q q 0 0 0 rg BT 384.34 537.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 399.53 537.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.53 537.10 Td (. ) Tj ET Q q 0 0 0 rg BT 424.13 537.10 Td (After ) Tj ET Q q 0 0 0 rg BT 447.93 537.10 Td (taking ) Tj ET Q q 0 0 0 rg BT 475.62 537.10 Td (the ) Tj ET Q q 0 0 0 rg BT 490.54 537.10 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 523.78 537.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 553.69 537.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 525.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.58 525.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 111.93 525.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 150.93 525.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 178.29 525.10 Td (and ) Tj ET Q q 0 0 0 rg BT 195.09 525.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 218.56 525.10 Td (options, ) Tj ET Q q 0 0 0 rg BT 252.88 525.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 283.02 525.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 319.26 525.10 Td (per ) Tj ET Q q 0 0 0 rg BT 334.39 525.10 Td (common ) Tj ET Q q 0 0 0 rg BT 371.76 525.10 Td (share ) Tj ET Q q 0 0 0 rg BT 395.22 525.10 Td (in ) Tj ET Q q 0 0 0 rg BT 405.36 525.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.95 525.10 Td (year ) Tj ET Q q 0 0 0 rg BT 439.52 525.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 465.76 525.10 Td (December ) Tj ET Q q 0 0 0 rg BT 509.21 525.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 524.08 525.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.08 525.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.44 525.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 513.10 Td ($1.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 513.10 Td (. ) Tj ET Q q 0 0 0 rg BT 77.26 513.10 Td (This ) Tj ET Q q 0 0 0 rg BT 97.48 513.10 Td (compares ) Tj ET Q q 0 0 0 rg BT 138.23 513.10 Td (to ) Tj ET Q q 0 0 0 rg BT 148.45 513.10 Td (net ) Tj ET Q q 0 0 0 rg BT 163.11 513.10 Td (income ) Tj ET Q q 0 0 0 rg BT 194.98 513.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.75 513.10 Td ($6.2 ) Tj ET Q q 0 0 0 rg BT 225.69 513.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.58 513.10 Td ( ) Tj ET Q q 0 0 0 rg BT 257.02 513.10 Td (or ) Tj ET Q q 0 0 0 rg BT 267.79 513.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 298.00 513.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 334.32 513.10 Td (per ) Tj ET Q q 0 0 0 rg BT 349.52 513.10 Td (common ) Tj ET Q q 0 0 0 rg BT 386.96 513.10 Td (share ) Tj ET Q q 0 0 0 rg BT 410.50 513.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.26 513.10 Td ($0.74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.76 513.10 Td ( ) Tj ET Q q 0 0 0 rg BT 446.20 513.10 Td (for ) Tj ET Q q 0 0 0 rg BT 460.30 513.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.96 513.10 Td (year ) Tj ET Q q 0 0 0 rg BT 494.60 513.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 520.92 513.10 Td (December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 501.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 65.00 501.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 501.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.46 484.10 Td (part ) Tj ET Q q 0 0 0 rg BT 81.36 484.10 Td (of ) Tj ET Q q 0 0 0 rg BT 92.04 484.10 Td (our ) Tj ET Q q 0 0 0 rg BT 107.72 484.10 Td (on-going ) Tj ET Q q 0 0 0 rg BT 146.18 484.10 Td (analysis ) Tj ET Q q 0 0 0 rg BT 180.75 484.10 Td (of ) Tj ET Q q 0 0 0 rg BT 191.43 484.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 227.09 484.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 241.66 484.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 269.84 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 272.19 484.10 Td (management ) Tj ET Q q 0 0 0 rg BT 325.63 484.10 Td (has ) Tj ET Q q 0 0 0 rg BT 341.31 484.10 Td (assessed ) Tj ET Q q 0 0 0 rg BT 377.54 484.10 Td (both ) Tj ET Q q 0 0 0 rg BT 397.67 484.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 431.69 484.10 Td (and ) Tj ET Q q 0 0 0 rg BT 448.48 484.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 484.70 484.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 522.59 484.10 Td (according ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.34 472.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 98.99 472.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 137.10 472.10 Td (by ) Tj ET Q q 0 0 0 rg BT 149.66 472.10 Td (the ) Tj ET Q q 0 0 0 rg BT 164.44 472.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 203.65 472.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 252.86 472.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 294.86 472.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 321.86 472.10 Td (\("F) Tj ET Q q 0 0 0 rg BT 334.10 472.10 Td (ASB"\). ) Tj ET Q q 0 0 0 rg BT 366.02 472.10 Td ( ) Tj ET Q q 0 0 0 rg BT 368.58 472.10 Td (Based ) Tj ET Q q 0 0 0 rg BT 395.58 472.10 Td (on ) Tj ET Q q 0 0 0 rg BT 408.14 472.10 Td (this ) Tj ET Q q 0 0 0 rg BT 425.15 472.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 463.81 472.10 Td (we ) Tj ET Q q 0 0 0 rg BT 478.03 472.10 Td (have ) Tj ET Q q 0 0 0 rg BT 499.47 472.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 547.01 472.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (it ) Tj ET Q q 0 0 0 rg BT 58.02 460.10 Td (is ) Tj ET Q q 0 0 0 rg BT 67.16 460.10 Td (more ) Tj ET Q q 0 0 0 rg BT 90.18 460.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 115.42 460.10 Td (than ) Tj ET Q q 0 0 0 rg BT 135.10 460.10 Td (not ) Tj ET Q q 0 0 0 rg BT 150.35 460.10 Td (that ) Tj ET Q q 0 0 0 rg BT 167.81 460.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.49 460.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 223.85 460.10 Td (will ) Tj ET Q q 0 0 0 rg BT 241.87 460.10 Td (be ) Tj ET Q q 0 0 0 rg BT 253.78 460.10 Td (able ) Tj ET Q q 0 0 0 rg BT 272.90 460.10 Td (to ) Tj ET Q q 0 0 0 rg BT 283.14 460.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 304.50 460.10 Td (utilize ) Tj ET Q q 0 0 0 rg BT 331.96 460.10 Td (its ) Tj ET Q q 0 0 0 rg BT 343.87 460.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 379.64 460.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 394.33 460.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 420.13 460.10 Td (\("DT) Tj ET Q q 0 0 0 rg BT 440.07 460.10 Td (As"\). ) Tj ET Q q 0 0 0 rg BT 463.01 460.10 Td (As ) Tj ET Q q 0 0 0 rg BT 476.60 460.10 Td (such, ) Tj ET Q q 0 0 0 rg BT 499.89 460.10 Td (it ) Tj ET Q q 0 0 0 rg BT 507.92 460.10 Td (has ) Tj ET Q q 0 0 0 rg BT 523.71 460.10 Td (evaluated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (its ) Tj ET Q q 0 0 0 rg BT 61.92 448.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 101.61 448.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 144.61 448.10 Td (and ) Tj ET Q q 0 0 0 rg BT 161.52 448.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 208.98 448.10 Td (that ) Tj ET Q q 0 0 0 rg BT 226.45 448.10 Td (all ) Tj ET Q q 0 0 0 rg BT 238.91 448.10 Td (DT) Tj ET Q q 0 0 0 rg BT 251.44 448.10 Td (As ) Tj ET Q q 0 0 0 rg BT 265.03 448.10 Td (net ) Tj ET Q q 0 0 0 rg BT 279.72 448.10 Td (of ) Tj ET Q q 0 0 0 rg BT 290.52 448.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 326.30 448.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 340.99 448.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 380.68 448.10 Td (\("DTLs"\) ) Tj ET Q q 0 0 0 rg BT 421.31 448.10 Td (are ) Tj ET Q q 0 0 0 rg BT 435.99 448.10 Td (available ) Tj ET Q q 0 0 0 rg BT 474.55 448.10 Td (to ) Tj ET Q q 0 0 0 rg BT 484.80 448.10 Td (of) Tj ET Q q 0 0 0 rg BT 492.95 448.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 509.86 448.10 Td (income ) Tj ET Q q 0 0 0 rg BT 541.77 448.10 Td (in ) Tj ET Q q 0 0 0 rg BT 552.02 448.10 Td (all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (future ) Tj ET Q q 0 0 0 rg BT 77.09 436.10 Td (periods. ) Tj ET Q q 0 0 0 rg BT 112.23 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 115.21 436.10 Td (This ) Tj ET Q q 0 0 0 rg BT 136.20 436.10 Td (conclusion ) Tj ET Q q 0 0 0 rg BT 182.73 436.10 Td (is ) Tj ET Q q 0 0 0 rg BT 192.61 436.10 Td (based ) Tj ET Q q 0 0 0 rg BT 218.59 436.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 241.80 436.10 Td (management) Tj ET Q q 0 0 0 rg BT 295.67 436.10 Td (s ) Tj ET Q q 0 0 0 rg BT 302.77 436.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 347.63 436.10 Td (of ) Tj ET Q q 0 0 0 rg BT 359.17 436.10 Td (the ) Tj ET Q q 0 0 0 rg BT 374.60 436.10 Td (new ) Tj ET Q q 0 0 0 rg BT 394.46 436.10 Td (information ) Tj ET Q q 0 0 0 rg BT 444.89 436.10 Td (it ) Tj ET Q q 0 0 0 rg BT 453.65 436.10 Td (has ) Tj ET Q q 0 0 0 rg BT 470.19 436.10 Td (analyzed ) Tj ET Q q 0 0 0 rg BT 508.93 436.10 Td (and ) Tj ET Q q 0 0 0 rg BT 526.58 436.10 Td (not ) Tj ET Q q 0 0 0 rg BT 542.57 436.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (management) Tj ET Q q 0 0 0 rg BT 103.87 424.10 Td (s ) Tj ET Q q 0 0 0 rg BT 110.79 424.10 Td (new ) Tj ET Q q 0 0 0 rg BT 130.49 424.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 175.17 424.10 Td (or ) Tj ET Q q 0 0 0 rg BT 186.54 424.10 Td (new ) Tj ET Q q 0 0 0 rg BT 206.23 424.10 Td (interpretation ) Tj ET Q q 0 0 0 rg BT 263.13 424.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.50 424.10 Td (information ) Tj ET Q q 0 0 0 rg BT 324.75 424.10 Td (that ) Tj ET Q q 0 0 0 rg BT 342.78 424.10 Td (was ) Tj ET Q q 0 0 0 rg BT 361.36 424.10 Td (available ) Tj ET Q q 0 0 0 rg BT 400.49 424.10 Td (in ) Tj ET Q q 0 0 0 rg BT 411.30 424.10 Td (a ) Tj ET Q q 0 0 0 rg BT 418.77 424.10 Td (previous ) Tj ET Q q 0 0 0 rg BT 456.25 424.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 494.26 424.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 533.95 424.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 564.50 424.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 99.34 412.10 Td (, ) Tj ET Q q 0 0 0 rg BT 103.74 412.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.86 412.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 158.65 412.10 Td (has ) Tj ET Q q 0 0 0 rg BT 173.88 412.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 210.75 412.10 Td (an ) Tj ET Q q 0 0 0 rg BT 222.09 412.10 Td (entry ) Tj ET Q q 0 0 0 rg BT 244.54 412.10 Td (in ) Tj ET Q q 0 0 0 rg BT 254.22 412.10 Td (its ) Tj ET Q q 0 0 0 rg BT 265.57 412.10 Td (year) Tj ET Q q 0 0 0 rg BT 282.58 412.10 Td (-end ) Tj ET Q q 0 0 0 rg BT 302.25 412.10 Td (closing ) Tj ET Q q 0 0 0 rg BT 333.04 412.10 Td (process ) Tj ET Q q 0 0 0 rg BT 364.93 412.10 Td (commensurate ) Tj ET Q q 0 0 0 rg BT 425.14 412.10 Td (with ) Tj ET Q q 0 0 0 rg BT 444.82 412.10 Td (this ) Tj ET Q q 0 0 0 rg BT 461.17 412.10 Td (conclusion. ) Tj ET Q q 0 0 0 rg BT 508.90 412.10 Td ( ) Tj ET Q q 0 0 0 rg BT 510.67 412.10 Td (This ) Tj ET Q q 0 0 0 rg BT 530.35 412.10 Td (resulted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 400.10 Td (a ) Tj ET Q q 0 0 0 rg BT 67.22 400.10 Td (book ) Tj ET Q q 0 0 0 rg BT 89.72 400.10 Td (value ) Tj ET Q q 0 0 0 rg BT 113.87 400.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 149.13 400.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.96 400.10 Td ($9.4 ) Tj ET Q q 0 0 0 rg BT 179.96 400.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.85 400.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.35 400.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.18 400.10 Td ($0.81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.68 400.10 Td ( ) Tj ET Q q 0 0 0 rg BT 247.18 400.10 Td (per ) Tj ET Q q 0 0 0 rg BT 262.45 400.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 292.72 400.10 Td (common ) Tj ET Q q 0 0 0 rg BT 330.21 400.10 Td (share.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 369.53505859375 m 334.8681640625 369.53505859375 l s q 0 0 0 rg BT 50.00 371.10 Td (III. ) Tj ET Q q 0 0 0 rg BT 66.12 371.10 Td (APPLICA) Tj ET Q q 0 0 0 rg BT 109.82 371.10 Td (TION OF) Tj ET Q q 0 0 0 rg BT 151.40 371.10 Td ( CRITICAL) Tj ET Q q 0 0 0 rg BT 203.36 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 205.31 371.10 Td (ACCOUNTING ESTIMA) Tj ET Q q 0 0 0 rg BT 315.97 371.10 Td (TES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.55 354.10 Td (preparation ) Tj ET Q q 0 0 0 rg BT 117.09 354.10 Td (of ) Tj ET Q q 0 0 0 rg BT 128.42 354.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 166.41 354.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 211.62 354.10 Td (in ) Tj ET Q q 0 0 0 rg BT 222.41 354.10 Td (conformity ) Tj ET Q q 0 0 0 rg BT 269.84 354.10 Td (with ) Tj ET Q q 0 0 0 rg BT 290.63 354.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 311.41 354.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 338.27 354.10 Td ( ) Tj ET Q q 0 0 0 rg BT 341.27 354.10 Td (requires ) Tj ET Q q 0 0 0 rg BT 376.49 354.10 Td (management ) Tj ET Q q 0 0 0 rg BT 430.58 354.10 Td (to ) Tj ET Q q 0 0 0 rg BT 441.36 354.10 Td (adopt ) Tj ET Q q 0 0 0 rg BT 466.58 354.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 513.46 354.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 547.57 354.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.10 Td (make ) Tj ET Q q 0 0 0 rg BT 73.81 342.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 113.17 342.10 Td (and ) Tj ET Q q 0 0 0 rg BT 129.76 342.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 181.36 342.10 Td (that ) Tj ET Q q 0 0 0 rg BT 198.51 342.10 Td (af) Tj ET Q q 0 0 0 rg BT 206.10 342.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 223.24 342.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 259.28 342.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 294.74 342.10 Td (in ) Tj ET Q q 0 0 0 rg BT 304.67 342.10 Td (the ) Tj ET Q q 0 0 0 rg BT 319.04 342.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 371.74 342.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 408.87 342.10 Td (statements. ) Tj ET Q q 0 0 0 rg BT 455.58 342.10 Td (The ) Tj ET Q q 0 0 0 rg BT 473.28 342.10 Td (most ) Tj ET Q q 0 0 0 rg BT 494.88 342.10 Td (critical ) Tj ET Q q 0 0 0 rg BT 524.79 342.10 Td (estimates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td (include ) Tj ET Q q 0 0 0 rg BT 81.93 330.10 Td (those ) Tj ET Q q 0 0 0 rg BT 105.54 330.10 Td (used ) Tj ET Q q 0 0 0 rg BT 126.37 330.10 Td (in ) Tj ET Q q 0 0 0 rg BT 136.65 330.10 Td (determining:) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 310.94 cm /I38 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 313.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 104.61 313.10 Td (value ) Tj ET Q q 0 0 0 rg BT 128.76 313.10 Td (and ) Tj ET Q q 0 0 0 rg BT 145.70 313.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 194.30 313.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.13 313.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 242.61 313.10 Td (assets;) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 293.94 cm /I39 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 296.10 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 124.03 296.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 151.52 296.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 197.90 296.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 220.40 296.10 Td (recoverability;) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 276.94 cm /I40 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 279.10 Td (Reserve ) Tj ET Q q 0 0 0 rg BT 120.71 279.10 Td (for ) Tj ET Q q 0 0 0 rg BT 134.87 279.10 Td (property-liability ) Tj ET Q q 0 0 0 rg BT 205.68 279.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 246.50 279.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 275.10 279.10 Td (and ) Tj ET Q q 0 0 0 rg BT 292.04 279.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 320.64 279.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 355.35 279.10 Td (estimation; ) Tj ET Q q 0 0 0 rg BT 402.29 279.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 259.94 cm /I41 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 262.10 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 124.03 262.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 138.74 262.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 160.68 262.10 Td (valuation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 245.10 Td (In ) Tj ET Q q 0 0 0 rg BT 61.16 245.10 Td (making ) Tj ET Q q 0 0 0 rg BT 93.99 245.10 Td (these ) Tj ET Q q 0 0 0 rg BT 117.37 245.10 Td (determinations, ) Tj ET Q q 0 0 0 rg BT 182.13 245.10 Td (management ) Tj ET Q q 0 0 0 rg BT 236.05 245.10 Td (makes ) Tj ET Q q 0 0 0 rg BT 264.43 245.10 Td (subjective ) Tj ET Q q 0 0 0 rg BT 307.80 245.10 Td (and ) Tj ET Q q 0 0 0 rg BT 325.07 245.10 Td (complex ) Tj ET Q q 0 0 0 rg BT 362.34 245.10 Td (judgments ) Tj ET Q q 0 0 0 rg BT 406.84 245.10 Td (that ) Tj ET Q q 0 0 0 rg BT 424.66 245.10 Td (frequently ) Tj ET Q q 0 0 0 rg BT 468.59 245.10 Td (require ) Tj ET Q q 0 0 0 rg BT 499.74 245.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 539.78 245.10 Td (about ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 233.10 Td (matters ) Tj ET Q q 0 0 0 rg BT 82.15 233.10 Td (that ) Tj ET Q q 0 0 0 rg BT 99.86 233.10 Td (are ) Tj ET Q q 0 0 0 rg BT 114.78 233.10 Td (inherently ) Tj ET Q q 0 0 0 rg BT 158.03 233.10 Td (uncertain. ) Tj ET Q q 0 0 0 rg BT 200.45 233.10 Td (Many ) Tj ET Q q 0 0 0 rg BT 226.49 233.10 Td (of ) Tj ET Q q 0 0 0 rg BT 237.54 233.10 Td (these ) Tj ET Q q 0 0 0 rg BT 260.80 233.10 Td (policies, ) Tj ET Q q 0 0 0 rg BT 297.12 233.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 337.04 233.10 Td (and ) Tj ET Q q 0 0 0 rg BT 354.19 233.10 Td (related ) Tj ET Q q 0 0 0 rg BT 384.11 233.10 Td (judgments ) Tj ET Q q 0 0 0 rg BT 428.49 233.10 Td (are ) Tj ET Q q 0 0 0 rg BT 443.41 233.10 Td (common ) Tj ET Q q 0 0 0 rg BT 481.12 233.10 Td (in ) Tj ET Q q 0 0 0 rg BT 491.61 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 506.54 233.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 547.57 233.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 221.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.95 221.10 Td (services ) Tj ET Q q 0 0 0 rg BT 121.13 221.10 Td (industries; ) Tj ET Q q 0 0 0 rg BT 164.76 221.10 Td (others ) Tj ET Q q 0 0 0 rg BT 191.17 221.10 Td (are ) Tj ET Q q 0 0 0 rg BT 205.35 221.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 238.41 221.10 Td (to ) Tj ET Q q 0 0 0 rg BT 248.16 221.10 Td (our ) Tj ET Q q 0 0 0 rg BT 263.46 221.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 307.65 221.10 Td (and ) Tj ET Q q 0 0 0 rg BT 324.06 221.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 370.19 221.10 Td (It ) Tj ET Q q 0 0 0 rg BT 378.27 221.10 Td (is ) Tj ET Q q 0 0 0 rg BT 386.91 221.10 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 432.19 221.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 456.94 221.10 Td (that ) Tj ET Q q 0 0 0 rg BT 473.90 221.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 508.08 221.10 Td (in ) Tj ET Q q 0 0 0 rg BT 517.83 221.10 Td (these ) Tj ET Q q 0 0 0 rg BT 540.34 221.10 Td (items ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 209.10 Td (could ) Tj ET Q q 0 0 0 rg BT 74.72 209.10 Td (occur ) Tj ET Q q 0 0 0 rg BT 99.42 209.10 Td (from ) Tj ET Q q 0 0 0 rg BT 121.36 209.10 Td (period ) Tj ET Q q 0 0 0 rg BT 149.41 209.10 Td (to ) Tj ET Q q 0 0 0 rg BT 159.69 209.10 Td (period ) Tj ET Q q 0 0 0 rg BT 187.73 209.10 Td (and ) Tj ET Q q 0 0 0 rg BT 204.67 209.10 Td (result ) Tj ET Q q 0 0 0 rg BT 229.39 209.10 Td (in ) Tj ET Q q 0 0 0 rg BT 239.67 209.10 Td (a ) Tj ET Q q 0 0 0 rg BT 246.61 209.10 Td (material ) Tj ET Q q 0 0 0 rg BT 281.87 209.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 311.58 209.10 Td (on ) Tj ET Q q 0 0 0 rg BT 324.08 209.10 Td (our ) Tj ET Q q 0 0 0 rg BT 339.91 209.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 392.95 209.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 430.43 209.10 Td (statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 192.10 Td ( ) Tj ET Q q 0 0 0 rg BT 60.08 192.10 Td (brief ) Tj ET Q q 0 0 0 rg BT 82.37 192.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 122.99 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 134.73 192.10 Td (each ) Tj ET Q q 0 0 0 rg BT 156.46 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.20 192.10 Td (these ) Tj ET Q q 0 0 0 rg BT 192.15 192.10 Td (critical ) Tj ET Q q 0 0 0 rg BT 223.32 192.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 270.60 192.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 311.23 192.10 Td (follows. ) Tj ET Q q 0 0 0 rg BT 347.14 192.10 Td (For ) Tj ET Q q 0 0 0 rg BT 364.44 192.10 Td (a ) Tj ET Q q 0 0 0 rg BT 372.28 192.10 Td (more ) Tj ET Q q 0 0 0 rg BT 396.24 192.10 Td (detailed ) Tj ET Q q 0 0 0 rg BT 431.30 192.10 Td (discussion ) Tj ET Q q 0 0 0 rg BT 476.38 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 488.12 192.10 Td (the ) Tj ET Q q 0 0 0 rg BT 503.75 192.10 Td (ef) Tj ET Q q 0 0 0 rg BT 511.33 192.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 529.73 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 541.47 192.10 Td (these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 88.78 180.10 Td (on ) Tj ET Q q 0 0 0 rg BT 100.34 180.10 Td (our ) Tj ET Q q 0 0 0 rg BT 115.24 180.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 167.35 180.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 203.90 180.10 Td (statements, ) Tj ET Q q 0 0 0 rg BT 250.17 180.10 Td (and ) Tj ET Q q 0 0 0 rg BT 266.18 180.10 Td (the ) Tj ET Q q 0 0 0 rg BT 279.96 180.10 Td (judgments ) Tj ET Q q 0 0 0 rg BT 323.19 180.10 Td (and ) Tj ET Q q 0 0 0 rg BT 339.20 180.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 390.21 180.10 Td (related ) Tj ET Q q 0 0 0 rg BT 418.98 180.10 Td (to ) Tj ET Q q 0 0 0 rg BT 428.33 180.10 Td (these ) Tj ET Q q 0 0 0 rg BT 450.44 180.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 491.72 180.10 Td (see ) Tj ET Q q 0 0 0 rg BT 506.05 180.10 Td (the ) Tj ET Q q 0 0 0 rg BT 519.84 180.10 Td (referenced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.10 Td (sections ) Tj ET Q q 0 0 0 rg BT 83.79 168.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.70 168.10 Td (this ) Tj ET Q q 0 0 0 rg BT 109.72 168.10 Td (document. ) Tj ET Q q 0 0 0 rg BT 153.23 168.10 Td (For ) Tj ET Q q 0 0 0 rg BT 168.69 168.10 Td (a ) Tj ET Q q 0 0 0 rg BT 174.71 168.10 Td (complete ) Tj ET Q q 0 0 0 rg BT 212.93 168.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 251.72 168.10 Td (of ) Tj ET Q q 0 0 0 rg BT 261.63 168.10 Td (our ) Tj ET Q q 0 0 0 rg BT 276.53 168.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 320.32 168.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 365.77 168.10 Td (policies, ) Tj ET Q q 0 0 0 rg BT 400.94 168.10 Td (see ) Tj ET Q q 0 0 0 rg BT 415.29 168.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.08 168.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 451.76 168.10 Td (to ) Tj ET Q q 0 0 0 rg BT 461.12 168.10 Td (the ) Tj ET Q q 0 0 0 rg BT 474.91 168.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 527.02 168.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.10 Td (statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 139.10 Td (Fair) Tj ET Q q 0 0 0 rg BT 68.14 139.10 Td ( ) Tj ET Q q 0 0 0 rg BT 69.42 139.10 Td (values ) Tj ET Q q 0 0 0 rg BT 97.36 139.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.96 139.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 145.46 139.10 Td (instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.58 139.10 Td ( ) Tj ET Q q 0 0 0 rg BT 197.85 139.10 Td (- ) Tj ET Q q 0 0 0 rg BT 202.17 139.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 224.56 139.10 Td (has ) Tj ET Q q 0 0 0 rg BT 239.16 139.10 Td (used ) Tj ET Q q 0 0 0 rg BT 258.76 139.10 Td (the ) Tj ET Q q 0 0 0 rg BT 272.25 139.10 Td (following ) Tj ET Q q 0 0 0 rg BT 312.41 139.10 Td (methods ) Tj ET Q q 0 0 0 rg BT 347.57 139.10 Td (and ) Tj ET Q q 0 0 0 rg BT 363.29 139.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 414.01 139.10 Td (in ) Tj ET Q q 0 0 0 rg BT 423.06 139.10 Td (estimating ) Tj ET Q q 0 0 0 rg BT 465.99 139.10 Td (its ) Tj ET Q q 0 0 0 rg BT 476.71 139.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 491.86 139.10 Td (value ) Tj ET Q q 0 0 0 rg BT 514.79 139.10 Td (disclosures:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 122.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 68.27 122.10 Td (values ) Tj ET Q q 0 0 0 rg BT 95.98 122.10 Td (for ) Tj ET Q q 0 0 0 rg BT 109.80 122.10 Td (marketable ) Tj ET Q q 0 0 0 rg BT 156.38 122.10 Td (bonds ) Tj ET Q q 0 0 0 rg BT 182.44 122.10 Td (and ) Tj ET Q q 0 0 0 rg BT 199.04 122.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 226.19 122.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 266.12 122.10 Td (are ) Tj ET Q q 0 0 0 rg BT 280.49 122.10 Td (based ) Tj ET Q q 0 0 0 rg BT 305.42 122.10 Td (on ) Tj ET Q q 0 0 0 rg BT 317.58 122.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 346.96 122.10 Td (market ) Tj ET Q q 0 0 0 rg BT 376.89 122.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 405.43 122.10 Td (when ) Tj ET Q q 0 0 0 rg BT 429.25 122.10 Td (available. ) Tj ET Q q 0 0 0 rg BT 470.00 122.10 Td (If ) Tj ET Q q 0 0 0 rg BT 478.82 122.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 508.20 122.10 Td (market ) Tj ET Q q 0 0 0 rg BT 538.13 122.10 Td (prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 110.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.81 110.10 Td (not ) Tj ET Q q 0 0 0 rg BT 80.20 110.10 Td (available, ) Tj ET Q q 0 0 0 rg BT 121.39 110.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 137.88 110.10 Td (values ) Tj ET Q q 0 0 0 rg BT 166.03 110.10 Td (are ) Tj ET Q q 0 0 0 rg BT 180.84 110.10 Td (based ) Tj ET Q q 0 0 0 rg BT 206.22 110.10 Td (on ) Tj ET Q q 0 0 0 rg BT 218.83 110.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 248.65 110.10 Td (market ) Tj ET Q q 0 0 0 rg BT 279.02 110.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 305.50 110.10 Td (of ) Tj ET Q q 0 0 0 rg BT 316.44 110.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 365.69 110.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 414.96 110.10 Td (or ) Tj ET Q q 0 0 0 rg BT 425.89 110.10 Td (values ) Tj ET Q q 0 0 0 rg BT 454.05 110.10 Td (obtained ) Tj ET Q q 0 0 0 rg BT 491.09 110.10 Td (from ) Tj ET Q q 0 0 0 rg BT 513.13 110.10 Td (independent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 80.83 98.10 Td (services ) Tj ET Q q 0 0 0 rg BT 115.53 98.10 Td (through ) Tj ET Q q 0 0 0 rg BT 149.14 98.10 Td (a ) Tj ET Q q 0 0 0 rg BT 156.08 98.10 Td (bank ) Tj ET Q q 0 0 0 rg BT 178.02 98.10 Td (trustee. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 75.87 81.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 99.38 81.10 Td (income ) Tj ET Q q 0 0 0 rg BT 131.77 81.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 169.73 81.10 Td (is ) Tj ET Q q 0 0 0 rg BT 179.36 81.10 Td (managed ) Tj ET Q q 0 0 0 rg BT 218.42 81.10 Td (by ) Tj ET Q q 0 0 0 rg BT 231.38 81.10 Td (a ) Tj ET Q q 0 0 0 rg BT 238.78 81.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 260.08 81.10 Td (registered ) Tj ET Q q 0 0 0 rg BT 302.47 81.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 349.31 81.10 Td (advisor ) Tj ET Q q 0 0 0 rg BT 381.71 81.10 Td (specializing ) Tj ET Q q 0 0 0 rg BT 432.43 81.10 Td (in ) Tj ET Q q 0 0 0 rg BT 443.17 81.10 Td (the ) Tj ET Q q 0 0 0 rg BT 458.35 81.10 Td (management ) Tj ET Q q 0 0 0 rg BT 512.40 81.10 Td (of ) Tj ET Q q 0 0 0 rg BT 523.69 81.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 69.10 Td (company ) Tj ET Q q 0 0 0 rg BT 89.23 69.10 Td (portfolios. ) Tj ET Q q 0 0 0 rg BT 133.19 69.10 Td ( ) Tj ET Q q 0 0 0 rg BT 135.76 69.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 190.54 69.10 Td (works ) Tj ET Q q 0 0 0 rg BT 217.55 69.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 250.67 69.10 Td (with ) Tj ET Q q 0 0 0 rg BT 271.02 69.10 Td (them ) Tj ET Q q 0 0 0 rg BT 293.59 69.10 Td (to ) Tj ET Q q 0 0 0 rg BT 303.94 69.10 Td (ensure ) Tj ET Q q 0 0 0 rg BT 332.61 69.10 Td (that ) Tj ET Q q 0 0 0 rg BT 349.61 69.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 373.29 69.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 407.52 69.10 Td (from ) Tj ET Q q 0 0 0 rg BT 429.53 69.10 Td (their ) Tj ET Q q 0 0 0 rg BT 450.43 69.10 Td (expertise ) Tj ET Q q 0 0 0 rg BT 489.10 69.10 Td (and ) Tj ET Q q 0 0 0 rg BT 506.11 69.10 Td (also ) Tj ET Q q 0 0 0 rg BT 524.79 69.10 Td (evaluates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 57.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 100.56 57.10 Td (as ) Tj ET Q q 0 0 0 rg BT 111.67 57.10 Td (well ) Tj ET Q q 0 0 0 rg BT 131.67 57.10 Td (as ) Tj ET Q q 0 0 0 rg BT 142.79 57.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 176.67 57.10 Td (positions ) Tj ET Q q 0 0 0 rg BT 215.57 57.10 Td (independently ) Tj ET Q q 0 0 0 rg BT 275.01 57.10 Td (using ) Tj ET Q q 0 0 0 rg BT 299.46 57.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 332.79 57.10 Td (resources. ) Tj ET Q q 0 0 0 rg BT 375.83 57.10 Td ( ) Tj ET Q q 0 0 0 rg BT 378.00 57.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 403.69 57.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 450.36 57.10 Td (advisor ) Tj ET Q q 0 0 0 rg BT 482.58 57.10 Td (has ) Tj ET Q q 0 0 0 rg BT 498.70 57.10 Td (a ) Tj ET Q q 0 0 0 rg BT 505.92 57.10 Td (team ) Tj ET Q q 0 0 0 rg BT 528.14 57.10 Td (of ) Tj ET Q q 0 0 0 rg BT 539.26 57.10 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 45.10 Td (analysts ) Tj ET Q q 0 0 0 rg BT 84.23 45.10 Td (for ) Tj ET Q q 0 0 0 rg BT 97.89 45.10 Td (all ) Tj ET Q q 0 0 0 rg BT 109.90 45.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 155.79 45.10 Td (grade ) Tj ET Q q 0 0 0 rg BT 180.00 45.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 202.56 45.10 Td (income ) Tj ET Q q 0 0 0 rg BT 234.00 45.10 Td (sectors. ) Tj ET Q q 0 0 0 rg BT 266.28 45.10 Td ( ) Tj ET Q q 0 0 0 rg BT 268.14 45.10 Td (The ) Tj ET Q q 0 0 0 rg BT 285.69 45.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 331.58 45.10 Td (process ) Tj ET Q q 0 0 0 rg BT 363.58 45.10 Td (begins ) Tj ET Q q 0 0 0 rg BT 391.70 45.10 Td (with ) Tj ET Q q 0 0 0 rg BT 411.49 45.10 Td (an ) Tj ET Q q 0 0 0 rg BT 422.93 45.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 473.81 45.10 Td (analyst ) Tj ET Q q 0 0 0 rg BT 504.15 45.10 Td (review ) Tj ET Q q 0 0 0 rg BT 533.36 45.10 Td (of ) Tj ET Q q 0 0 0 rg BT 543.70 45.10 Td (each ) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (security's ) Tj ET Q q 0 0 0 rg BT 89.80 742.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 115.01 742.10 Td (worthiness ) Tj ET Q q 0 0 0 rg BT 160.79 742.10 Td (using ) Tj ET Q q 0 0 0 rg BT 184.90 742.10 Td (both ) Tj ET Q q 0 0 0 rg BT 205.13 742.10 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 254.78 742.10 Td (tools ) Tj ET Q q 0 0 0 rg BT 276.68 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 293.57 742.10 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 338.22 742.10 Td (review) Tj ET Q q 0 0 0 rg BT 364.78 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 369.73 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 371.63 742.10 Td (At ) Tj ET Q q 0 0 0 rg BT 384.08 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 398.75 742.10 Td (issuer ) Tj ET Q q 0 0 0 rg BT 424.52 742.10 Td (level, ) Tj ET Q q 0 0 0 rg BT 448.91 742.10 Td (this ) Tj ET Q q 0 0 0 rg BT 465.80 742.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 501.57 742.10 Td (reviews ) Tj ET Q q 0 0 0 rg BT 535.12 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 545.90 742.10 Td (past ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 88.10 730.10 Td (data, ) Tj ET Q q 0 0 0 rg BT 110.38 730.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 137.94 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 148.84 730.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 186.94 730.10 Td (stability) Tj ET Q q 0 0 0 rg BT 218.51 730.10 Td (, ) Tj ET Q q 0 0 0 rg BT 224.13 730.10 Td (projections ) Tj ET Q q 0 0 0 rg BT 271.69 730.10 Td (for ) Tj ET Q q 0 0 0 rg BT 286.47 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 301.81 730.10 Td (future, ) Tj ET Q q 0 0 0 rg BT 331.31 730.10 Td (reliability ) Tj ET Q q 0 0 0 rg BT 373.31 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 384.76 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 400.10 730.10 Td (management ) Tj ET Q q 0 0 0 rg BT 454.31 730.10 Td (team ) Tj ET Q q 0 0 0 rg BT 476.86 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 487.76 730.10 Td (place, ) Tj ET Q q 0 0 0 rg BT 514.48 730.10 Td (market ) Tj ET Q q 0 0 0 rg BT 545.36 730.10 Td (data ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (\(credit ) Tj ET Q q 0 0 0 rg BT 78.24 718.10 Td (spread, ) Tj ET Q q 0 0 0 rg BT 108.98 718.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 136.12 718.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 164.64 718.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 191.23 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 201.15 718.10 Td (this ) Tj ET Q q 0 0 0 rg BT 217.74 718.10 Td (data ) Tj ET Q q 0 0 0 rg BT 236.54 718.10 Td (for ) Tj ET Q q 0 0 0 rg BT 250.35 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 264.71 718.10 Td (issuer ) Tj ET Q q 0 0 0 rg BT 290.19 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 306.77 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.13 718.10 Td (issuer's ) Tj ET Q q 0 0 0 rg BT 352.30 718.10 Td (industry\). ) Tj ET Q q 0 0 0 rg BT 393.05 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 395.20 718.10 Td (Reviews ) Tj ET Q q 0 0 0 rg BT 431.78 718.10 Td (also ) Tj ET Q q 0 0 0 rg BT 450.04 718.10 Td (consider ) Tj ET Q q 0 0 0 rg BT 486.06 718.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 520.98 718.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 547.56 718.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 66.19 706.10 Td (macro-economic ) Tj ET Q q 0 0 0 rg BT 137.35 706.10 Td (environment. ) Tj ET Q q 0 0 0 rg BT 194.37 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 198.05 706.10 Td (This ) Tj ET Q q 0 0 0 rg BT 219.80 706.10 Td (analysis ) Tj ET Q q 0 0 0 rg BT 255.99 706.10 Td (is ) Tj ET Q q 0 0 0 rg BT 266.64 706.10 Td (continuous, ) Tj ET Q q 0 0 0 rg BT 317.00 706.10 Td (integrating ) Tj ET Q q 0 0 0 rg BT 364.29 706.10 Td (new ) Tj ET Q q 0 0 0 rg BT 384.92 706.10 Td (information ) Tj ET Q q 0 0 0 rg BT 436.11 706.10 Td (as ) Tj ET Q q 0 0 0 rg BT 448.41 706.10 Td (it ) Tj ET Q q 0 0 0 rg BT 457.94 706.10 Td (becomes ) Tj ET Q q 0 0 0 rg BT 496.90 706.10 Td (available. ) Tj ET Q q 0 0 0 rg BT 538.58 706.10 Td (As ) Tj ET Q q 0 0 0 rg BT 553.67 706.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.88 694.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.88 694.10 Td (, ) Tj ET Q q 0 0 0 rg BT 134.18 694.10 Td (this ) Tj ET Q q 0 0 0 rg BT 151.43 694.10 Td (process ) Tj ET Q q 0 0 0 rg BT 184.21 694.10 Td (did ) Tj ET Q q 0 0 0 rg BT 199.79 694.10 Td (not ) Tj ET Q q 0 0 0 rg BT 215.37 694.10 Td (generate ) Tj ET Q q 0 0 0 rg BT 252.03 694.10 Td (any ) Tj ET Q q 0 0 0 rg BT 269.26 694.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 314.27 694.10 Td (dif) Tj ET Q q 0 0 0 rg BT 325.20 694.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 357.41 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 367.99 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 383.00 694.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 409.13 694.10 Td (assessment ) Tj ET Q q 0 0 0 rg BT 456.36 694.10 Td (between ) Tj ET Q q 0 0 0 rg BT 491.86 694.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 517.57 694.10 Td (review ) Tj ET Q q 0 0 0 rg BT 547.57 694.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 682.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 90.54 682.10 Td (agencies. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 665.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.48 665.10 Td (employs ) Tj ET Q q 0 0 0 rg BT 109.73 665.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 143.19 665.10 Td (control ) Tj ET Q q 0 0 0 rg BT 173.89 665.10 Td (processes ) Tj ET Q q 0 0 0 rg BT 214.58 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 224.72 665.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 267.07 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 281.66 665.10 Td (reasonableness ) Tj ET Q q 0 0 0 rg BT 344.00 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 354.70 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 369.28 665.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 385.53 665.10 Td (value ) Tj ET Q q 0 0 0 rg BT 409.55 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 420.25 665.10 Td (its ) Tj ET Q q 0 0 0 rg BT 432.07 665.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 469.41 665.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 497.44 665.10 Td (These ) Tj ET Q q 0 0 0 rg BT 523.69 665.10 Td (processes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 653.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.87 653.10 Td (designed ) Tj ET Q q 0 0 0 rg BT 103.07 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 113.51 653.10 Td (supplement ) Tj ET Q q 0 0 0 rg BT 162.27 653.10 Td (those ) Tj ET Q q 0 0 0 rg BT 186.04 653.10 Td (performed ) Tj ET Q q 0 0 0 rg BT 230.34 653.10 Td (by ) Tj ET Q q 0 0 0 rg BT 243.00 653.10 Td (our ) Tj ET Q q 0 0 0 rg BT 258.99 653.10 Td (external ) Tj ET Q q 0 0 0 rg BT 293.85 653.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 331.50 653.10 Td (manager ) Tj ET Q q 0 0 0 rg BT 368.59 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 379.02 653.10 Td (ensure ) Tj ET Q q 0 0 0 rg BT 407.78 653.10 Td (that ) Tj ET Q q 0 0 0 rg BT 425.43 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 440.31 653.10 Td (values ) Tj ET Q q 0 0 0 rg BT 468.52 653.10 Td (received ) Tj ET Q q 0 0 0 rg BT 505.04 653.10 Td (from ) Tj ET Q q 0 0 0 rg BT 527.13 653.10 Td (them ) Tj ET Q q 0 0 0 rg BT 549.79 653.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.10 Td (accurately ) Tj ET Q q 0 0 0 rg BT 93.85 641.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 131.61 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 148.82 641.10 Td (that ) Tj ET Q q 0 0 0 rg BT 166.59 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 181.58 641.10 Td (data ) Tj ET Q q 0 0 0 rg BT 201.02 641.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 228.24 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 245.45 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 260.45 641.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 300.43 641.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 345.97 641.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 378.74 641.10 Td (are ) Tj ET Q q 0 0 0 rg BT 393.72 641.10 Td (appropriate, ) Tj ET Q q 0 0 0 rg BT 444.53 641.10 Td (consistently ) Tj ET Q q 0 0 0 rg BT 495.08 641.10 Td (applied, ) Tj ET Q q 0 0 0 rg BT 529.79 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 547.00 641.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.97 629.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 117.18 629.10 Td (are ) Tj ET Q q 0 0 0 rg BT 132.15 629.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 177.66 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 194.85 629.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 237.61 629.10 Td (with ) Tj ET Q q 0 0 0 rg BT 258.14 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.12 629.10 Td (objective ) Tj ET Q q 0 0 0 rg BT 312.53 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 323.61 629.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 374.69 629.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 391.33 629.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 418.24 629.10 Td (For ) Tj ET Q q 0 0 0 rg BT 434.89 629.10 Td (example, ) Tj ET Q q 0 0 0 rg BT 474.02 629.10 Td (on ) Tj ET Q q 0 0 0 rg BT 486.78 629.10 Td (a ) Tj ET Q q 0 0 0 rg BT 493.97 629.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 539.50 629.10 Td (basis, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 617.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.00 617.10 Td (assesses ) Tj ET Q q 0 0 0 rg BT 107.67 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 121.78 617.10 Td (reasonableness ) Tj ET Q q 0 0 0 rg BT 183.65 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.87 617.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 236.32 617.10 Td (security ) Tj ET Q q 0 0 0 rg BT 269.87 617.10 Td (values ) Tj ET Q q 0 0 0 rg BT 297.31 617.10 Td (which ) Tj ET Q q 0 0 0 rg BT 323.64 617.10 Td (have ) Tj ET Q q 0 0 0 rg BT 344.41 617.10 Td (stale ) Tj ET Q q 0 0 0 rg BT 364.63 617.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 390.40 617.10 Td (or ) Tj ET Q q 0 0 0 rg BT 400.62 617.10 Td (whose ) Tj ET Q q 0 0 0 rg BT 428.07 617.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 462.17 617.10 Td (exceed ) Tj ET Q q 0 0 0 rg BT 491.82 617.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 520.91 617.10 Td (thresholds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 605.10 Td (as ) Tj ET Q q 0 0 0 rg BT 61.47 605.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 104.04 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 114.96 605.10 Td (previous ) Tj ET Q q 0 0 0 rg BT 152.54 605.10 Td (values ) Tj ET Q q 0 0 0 rg BT 181.24 605.10 Td (received ) Tj ET Q q 0 0 0 rg BT 218.24 605.10 Td (from ) Tj ET Q q 0 0 0 rg BT 240.82 605.10 Td (our ) Tj ET Q q 0 0 0 rg BT 257.30 605.10 Td (external ) Tj ET Q q 0 0 0 rg BT 292.64 605.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 330.78 605.10 Td (manager ) Tj ET Q q 0 0 0 rg BT 368.35 605.10 Td (or ) Tj ET Q q 0 0 0 rg BT 379.82 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 390.74 605.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 429.42 605.10 Td (prices. ) Tj ET Q q 0 0 0 rg BT 458.71 605.10 Td (The ) Tj ET Q q 0 0 0 rg BT 477.40 605.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 515.54 605.10 Td (is ) Tj ET Q q 0 0 0 rg BT 525.36 605.10 Td (reviewed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 593.10 Td (routinely ) Tj ET Q q 0 0 0 rg BT 88.48 593.10 Td (for ) Tj ET Q q 0 0 0 rg BT 102.52 593.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 148.77 593.10 Td (volumes, ) Tj ET Q q 0 0 0 rg BT 187.54 593.10 Td (new ) Tj ET Q q 0 0 0 rg BT 206.58 593.10 Td (issuances, ) Tj ET Q q 0 0 0 rg BT 249.23 593.10 Td (any ) Tj ET Q q 0 0 0 rg BT 266.05 593.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 300.63 593.10 Td (in ) Tj ET Q q 0 0 0 rg BT 310.79 593.10 Td (spreads, ) Tj ET Q q 0 0 0 rg BT 345.66 593.10 Td (as ) Tj ET Q q 0 0 0 rg BT 356.37 593.10 Td (well ) Tj ET Q q 0 0 0 rg BT 375.96 593.10 Td (as ) Tj ET Q q 0 0 0 rg BT 386.67 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.27 593.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 431.41 593.10 Td (movement ) Tj ET Q q 0 0 0 rg BT 476.00 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 486.71 593.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 518.53 593.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 539.78 593.10 Td (along ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.38 581.10 Td (yield ) Tj ET Q q 0 0 0 rg BT 86.55 581.10 Td (curve ) Tj ET Q q 0 0 0 rg BT 110.92 581.10 Td (to ) Tj ET Q q 0 0 0 rg BT 120.87 581.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 163.02 581.10 Td (if ) Tj ET Q q 0 0 0 rg BT 171.29 581.10 Td (suf) Tj ET Q q 0 0 0 rg BT 183.33 581.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 211.04 581.10 Td (activity ) Tj ET Q q 0 0 0 rg BT 243.20 581.10 Td (and ) Tj ET Q q 0 0 0 rg BT 259.81 581.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 295.87 581.10 Td (exists ) Tj ET Q q 0 0 0 rg BT 320.82 581.10 Td (to ) Tj ET Q q 0 0 0 rg BT 330.76 581.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 363.48 581.10 Td (a ) Tj ET Q q 0 0 0 rg BT 370.08 581.10 Td (credible ) Tj ET Q q 0 0 0 rg BT 404.45 581.10 Td (source ) Tj ET Q q 0 0 0 rg BT 432.72 581.10 Td (for ) Tj ET Q q 0 0 0 rg BT 446.55 581.10 Td (market ) Tj ET Q q 0 0 0 rg BT 476.48 581.10 Td (valuations. ) Tj ET Q q 0 0 0 rg BT 522.09 581.10 Td (When ) Tj ET Q q 0 0 0 rg BT 548.14 581.10 Td (fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 569.10 Td (value ) Tj ET Q q 0 0 0 rg BT 74.76 569.10 Td (determinations ) Tj ET Q q 0 0 0 rg BT 137.29 569.10 Td (are ) Tj ET Q q 0 0 0 rg BT 152.59 569.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 191.23 569.10 Td (to ) Tj ET Q q 0 0 0 rg BT 202.10 569.10 Td (be ) Tj ET Q q 0 0 0 rg BT 214.64 569.10 Td (more ) Tj ET Q q 0 0 0 rg BT 238.29 569.10 Td (variable, ) Tj ET Q q 0 0 0 rg BT 276.09 569.10 Td (they ) Tj ET Q q 0 0 0 rg BT 296.41 569.10 Td (are ) Tj ET Q q 0 0 0 rg BT 311.72 569.10 Td (validated ) Tj ET Q q 0 0 0 rg BT 351.47 569.10 Td (through ) Tj ET Q q 0 0 0 rg BT 385.68 569.10 Td (reviews ) Tj ET Q q 0 0 0 rg BT 419.88 569.10 Td (by ) Tj ET Q q 0 0 0 rg BT 432.98 569.10 Td (members ) Tj ET Q q 0 0 0 rg BT 472.73 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 484.17 569.10 Td (management ) Tj ET Q q 0 0 0 rg BT 538.35 569.10 Td (or ) Tj ET Q q 0 0 0 rg BT 549.79 569.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 557.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 76.39 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 86.67 557.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 125.83 557.10 Td (who ) Tj ET Q q 0 0 0 rg BT 145.01 557.10 Td (have ) Tj ET Q q 0 0 0 rg BT 165.84 557.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 200.00 557.10 Td (expertise ) Tj ET Q q 0 0 0 rg BT 238.04 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 254.43 557.10 Td (who ) Tj ET Q q 0 0 0 rg BT 273.61 557.10 Td (are ) Tj ET Q q 0 0 0 rg BT 287.77 557.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 338.59 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 348.88 557.10 Td (those ) Tj ET Q q 0 0 0 rg BT 371.94 557.10 Td (char) Tj ET Q q 0 0 0 rg BT 388.96 557.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 405.36 557.10 Td (with ) Tj ET Q q 0 0 0 rg BT 425.09 557.10 Td (executing ) Tj ET Q q 0 0 0 rg BT 465.91 557.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 511.75 557.10 Td (transactions.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 540.10 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 101.28 540.10 Td (of ) Tj ET Q q 0 0 0 rg BT 112.00 540.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 151.61 540.10 Td (assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 175.50 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 177.88 540.10 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.60 540.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 207.09 540.10 Td (assesses, ) Tj ET Q q 0 0 0 rg BT 244.75 540.10 Td (on ) Tj ET Q q 0 0 0 rg BT 257.13 540.10 Td (a ) Tj ET Q q 0 0 0 rg BT 263.95 540.10 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 302.43 540.10 Td (basis, ) Tj ET Q q 0 0 0 rg BT 327.32 540.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 361.91 540.10 Td (there ) Tj ET Q q 0 0 0 rg BT 384.28 540.10 Td (is ) Tj ET Q q 0 0 0 rg BT 393.33 540.10 Td (objective ) Tj ET Q q 0 0 0 rg BT 432.37 540.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 470.28 540.10 Td (that ) Tj ET Q q 0 0 0 rg BT 487.66 540.10 Td (a ) Tj ET Q q 0 0 0 rg BT 494.48 540.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 531.85 540.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 553.67 540.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 528.10 Td (group ) Tj ET Q q 0 0 0 rg BT 75.91 528.10 Td (of ) Tj ET Q q 0 0 0 rg BT 86.81 528.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 124.37 528.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 150.27 528.10 Td (is ) Tj ET Q q 0 0 0 rg BT 159.52 528.10 Td (impaired. ) Tj ET Q q 0 0 0 rg BT 199.57 528.10 Td (An ) Tj ET Q q 0 0 0 rg BT 214.37 528.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 260.82 528.10 Td (is ) Tj ET Q q 0 0 0 rg BT 270.07 528.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 315.96 528.10 Td (impaired ) Tj ET Q q 0 0 0 rg BT 354.08 528.10 Td (when ) Tj ET Q q 0 0 0 rg BT 378.31 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 393.11 528.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 409.56 528.10 Td (value ) Tj ET Q q 0 0 0 rg BT 433.79 528.10 Td (of ) Tj ET Q q 0 0 0 rg BT 444.70 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 459.49 528.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 505.95 528.10 Td (is ) Tj ET Q q 0 0 0 rg BT 515.19 528.10 Td (less ) Tj ET Q q 0 0 0 rg BT 532.77 528.10 Td (than ) Tj ET Q q 0 0 0 rg BT 552.56 528.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 516.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 68.66 516.10 Td (or ) Tj ET Q q 0 0 0 rg BT 79.54 516.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 122.07 516.10 Td (cost. ) Tj ET Q q 0 0 0 rg BT 143.04 516.10 Td (When ) Tj ET Q q 0 0 0 rg BT 169.47 516.10 Td (an ) Tj ET Q q 0 0 0 rg BT 181.46 516.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 227.89 516.10 Td (is ) Tj ET Q q 0 0 0 rg BT 237.11 516.10 Td (impaired, ) Tj ET Q q 0 0 0 rg BT 277.70 516.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.47 516.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 333.91 516.10 Td (must ) Tj ET Q q 0 0 0 rg BT 355.91 516.10 Td (make ) Tj ET Q q 0 0 0 rg BT 380.11 516.10 Td (a ) Tj ET Q q 0 0 0 rg BT 387.10 516.10 Td (determination ) Tj ET Q q 0 0 0 rg BT 445.19 516.10 Td (as ) Tj ET Q q 0 0 0 rg BT 456.07 516.10 Td (to ) Tj ET Q q 0 0 0 rg BT 466.40 516.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 501.16 516.10 Td (the ) Tj ET Q q 0 0 0 rg BT 515.92 516.10 Td (impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 504.10 Td (is ) Tj ET Q q 0 0 0 rg BT 59.17 504.10 Td (other) Tj ET Q q 0 0 0 rg BT 79.52 504.10 Td (-than-temporary) Tj ET Q q 0 0 0 rg BT 143.84 504.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 77.71 487.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 98.22 487.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 124.34 487.10 Td (, ) Tj ET Q q 0 0 0 rg BT 129.57 487.10 Td (with ) Tj ET Q q 0 0 0 rg BT 150.07 487.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 181.11 487.10 Td (to ) Tj ET Q q 0 0 0 rg BT 191.61 487.10 Td (an ) Tj ET Q q 0 0 0 rg BT 203.77 487.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 250.38 487.10 Td (in ) Tj ET Q q 0 0 0 rg BT 260.88 487.10 Td (an ) Tj ET Q q 0 0 0 rg BT 273.05 487.10 Td (impaired ) Tj ET Q q 0 0 0 rg BT 311.31 487.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 331.25 487.10 Td (security) Tj ET Q q 0 0 0 rg BT 362.26 487.10 Td (, ) Tj ET Q q 0 0 0 rg BT 367.49 487.10 Td (other) Tj ET Q q 0 0 0 rg BT 387.83 487.10 Td (-than ) Tj ET Q q 0 0 0 rg BT 411.10 487.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 454.92 487.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 503.75 487.10 Td (\(OTTI\) ) Tj ET Q q 0 0 0 rg BT 535.90 487.10 Td (occurs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.10 Td (if ) Tj ET Q q 0 0 0 rg BT 59.14 475.10 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 73.28 475.10 Td (there ) Tj ET Q q 0 0 0 rg BT 96.30 475.10 Td (is ) Tj ET Q q 0 0 0 rg BT 106.01 475.10 Td (intent ) Tj ET Q q 0 0 0 rg BT 131.82 475.10 Td (to ) Tj ET Q q 0 0 0 rg BT 142.63 475.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 159.55 475.10 Td (the ) Tj ET Q q 0 0 0 rg BT 174.81 475.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 195.06 475.10 Td (security) Tj ET Q q 0 0 0 rg BT 226.07 475.10 Td (, ) Tj ET Q q 0 0 0 rg BT 231.60 475.10 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 246.30 475.10 Td (it ) Tj ET Q q 0 0 0 rg BT 254.89 475.10 Td (is ) Tj ET Q q 0 0 0 rg BT 264.60 475.10 Td (more ) Tj ET Q q 0 0 0 rg BT 288.18 475.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 313.99 475.10 Td (than ) Tj ET Q q 0 0 0 rg BT 334.24 475.10 Td (not ) Tj ET Q q 0 0 0 rg BT 350.06 475.10 Td (it ) Tj ET Q q 0 0 0 rg BT 358.65 475.10 Td (will ) Tj ET Q q 0 0 0 rg BT 377.24 475.10 Td (be ) Tj ET Q q 0 0 0 rg BT 389.72 475.10 Td (required ) Tj ET Q q 0 0 0 rg BT 426.07 475.10 Td (to ) Tj ET Q q 0 0 0 rg BT 436.88 475.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 453.81 475.10 Td (the ) Tj ET Q q 0 0 0 rg BT 469.06 475.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 489.31 475.10 Td (security ) Tj ET Q q 0 0 0 rg BT 524.00 475.10 Td (before ) Tj ET Q q 0 0 0 rg BT 552.58 475.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 96.43 463.10 Td (recovery) Tj ET Q q 0 0 0 rg BT 130.75 463.10 Td (, ) Tj ET Q q 0 0 0 rg BT 135.81 463.10 Td (or ) Tj ET Q q 0 0 0 rg BT 146.70 463.10 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 160.36 463.10 Td (it ) Tj ET Q q 0 0 0 rg BT 168.48 463.10 Td (is ) Tj ET Q q 0 0 0 rg BT 177.71 463.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 215.25 463.10 Td (that ) Tj ET Q q 0 0 0 rg BT 232.81 463.10 Td (all ) Tj ET Q q 0 0 0 rg BT 245.36 463.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 281.81 463.10 Td (due ) Tj ET Q q 0 0 0 rg BT 298.81 463.10 Td (will ) Tj ET Q q 0 0 0 rg BT 316.93 463.10 Td (be ) Tj ET Q q 0 0 0 rg BT 328.93 463.10 Td (unable ) Tj ET Q q 0 0 0 rg BT 358.14 463.10 Td (to ) Tj ET Q q 0 0 0 rg BT 368.48 463.10 Td (be ) Tj ET Q q 0 0 0 rg BT 380.48 463.10 Td (collected ) Tj ET Q q 0 0 0 rg BT 419.13 463.10 Td (such ) Tj ET Q q 0 0 0 rg BT 440.02 463.10 Td (that ) Tj ET Q q 0 0 0 rg BT 457.57 463.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.35 463.10 Td (entire ) Tj ET Q q 0 0 0 rg BT 497.67 463.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 516.34 463.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 538.90 463.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 463.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (security ) Tj ET Q q 0 0 0 rg BT 84.53 451.10 Td (will ) Tj ET Q q 0 0 0 rg BT 102.96 451.10 Td (not ) Tj ET Q q 0 0 0 rg BT 118.62 451.10 Td (be ) Tj ET Q q 0 0 0 rg BT 130.93 451.10 Td (recovered. ) Tj ET Q q 0 0 0 rg BT 175.72 451.10 Td (If ) Tj ET Q q 0 0 0 rg BT 184.62 451.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 208.60 451.10 Td (intends ) Tj ET Q q 0 0 0 rg BT 240.36 451.10 Td (to ) Tj ET Q q 0 0 0 rg BT 251.02 451.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 267.78 451.10 Td (the ) Tj ET Q q 0 0 0 rg BT 282.87 451.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 302.96 451.10 Td (security) Tj ET Q q 0 0 0 rg BT 333.97 451.10 Td (, ) Tj ET Q q 0 0 0 rg BT 339.34 451.10 Td (or ) Tj ET Q q 0 0 0 rg BT 350.55 451.10 Td (will ) Tj ET Q q 0 0 0 rg BT 368.98 451.10 Td (more ) Tj ET Q q 0 0 0 rg BT 392.40 451.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 418.05 451.10 Td (than ) Tj ET Q q 0 0 0 rg BT 438.14 451.10 Td (not ) Tj ET Q q 0 0 0 rg BT 453.79 451.10 Td (be ) Tj ET Q q 0 0 0 rg BT 466.11 451.10 Td (required ) Tj ET Q q 0 0 0 rg BT 502.30 451.10 Td (to ) Tj ET Q q 0 0 0 rg BT 512.95 451.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 529.71 451.10 Td (the ) Tj ET Q q 0 0 0 rg BT 544.81 451.10 Td (debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (security ) Tj ET Q q 0 0 0 rg BT 83.92 439.10 Td (before ) Tj ET Q q 0 0 0 rg BT 111.72 439.10 Td (the ) Tj ET Q q 0 0 0 rg BT 126.21 439.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 172.34 439.10 Td (recovery) Tj ET Q q 0 0 0 rg BT 206.67 439.10 Td (, ) Tj ET Q q 0 0 0 rg BT 211.43 439.10 Td (a ) Tj ET Q q 0 0 0 rg BT 218.13 439.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 235.96 439.10 Td (in ) Tj ET Q q 0 0 0 rg BT 246.01 439.10 Td (the ) Tj ET Q q 0 0 0 rg BT 260.49 439.10 Td (entire ) Tj ET Q q 0 0 0 rg BT 285.52 439.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 317.78 439.10 Td (of ) Tj ET Q q 0 0 0 rg BT 328.37 439.10 Td (the ) Tj ET Q q 0 0 0 rg BT 342.86 439.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 391.22 439.10 Td (is ) Tj ET Q q 0 0 0 rg BT 400.16 439.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 437.39 439.10 Td (in ) Tj ET Q q 0 0 0 rg BT 447.44 439.10 Td (net ) Tj ET Q q 0 0 0 rg BT 461.92 439.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 495.83 439.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 519.20 439.10 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 552.02 439.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 100.03 427.10 Td (in ) Tj ET Q q 0 0 0 rg BT 110.07 427.10 Td (the ) Tj ET Q q 0 0 0 rg BT 124.54 427.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 177.34 427.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 221.81 427.10 Td (of ) Tj ET Q q 0 0 0 rg BT 232.40 427.10 Td (income ) Tj ET Q q 0 0 0 rg BT 264.09 427.10 Td (and ) Tj ET Q q 0 0 0 rg BT 280.79 427.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 343.58 427.10 Td (income. ) Tj ET Q q 0 0 0 rg BT 377.77 427.10 Td (If ) Tj ET Q q 0 0 0 rg BT 386.19 427.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 409.56 427.10 Td (determines ) Tj ET Q q 0 0 0 rg BT 455.69 427.10 Td (that ) Tj ET Q q 0 0 0 rg BT 472.94 427.10 Td (it ) Tj ET Q q 0 0 0 rg BT 480.76 427.10 Td (is ) Tj ET Q q 0 0 0 rg BT 489.69 427.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 526.93 427.10 Td (it ) Tj ET Q q 0 0 0 rg BT 534.75 427.10 Td (will ) Tj ET Q q 0 0 0 rg BT 552.56 427.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (unable ) Tj ET Q q 0 0 0 rg BT 78.51 415.10 Td (to ) Tj ET Q q 0 0 0 rg BT 88.15 415.10 Td (collect ) Tj ET Q q 0 0 0 rg BT 116.66 415.10 Td (all ) Tj ET Q q 0 0 0 rg BT 128.52 415.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 164.26 415.10 Td (and ) Tj ET Q q 0 0 0 rg BT 180.15 415.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 203.12 415.10 Td (has ) Tj ET Q q 0 0 0 rg BT 218.31 415.10 Td (no ) Tj ET Q q 0 0 0 rg BT 230.17 415.10 Td (intent ) Tj ET Q q 0 0 0 rg BT 254.80 415.10 Td (to ) Tj ET Q q 0 0 0 rg BT 264.44 415.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 280.18 415.10 Td (the ) Tj ET Q q 0 0 0 rg BT 294.26 415.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 313.34 415.10 Td (security) Tj ET Q q 0 0 0 rg BT 344.34 415.10 Td (, ) Tj ET Q q 0 0 0 rg BT 348.70 415.10 Td (a ) Tj ET Q q 0 0 0 rg BT 355.00 415.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 379.62 415.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 397.04 415.10 Td (is ) Tj ET Q q 0 0 0 rg BT 405.57 415.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 451.29 415.10 Td (in ) Tj ET Q q 0 0 0 rg BT 460.93 415.10 Td (net ) Tj ET Q q 0 0 0 rg BT 475.01 415.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 508.51 415.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 531.48 415.10 Td (\(losses\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.66 403.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 113.10 403.10 Td (in ) Tj ET Q q 0 0 0 rg BT 123.54 403.10 Td (the ) Tj ET Q q 0 0 0 rg BT 138.42 403.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 191.62 403.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 236.50 403.10 Td (of ) Tj ET Q q 0 0 0 rg BT 247.49 403.10 Td (income ) Tj ET Q q 0 0 0 rg BT 279.59 403.10 Td (and ) Tj ET Q q 0 0 0 rg BT 296.69 403.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 359.88 403.10 Td (income ) Tj ET Q q 0 0 0 rg BT 391.98 403.10 Td (to ) Tj ET Q q 0 0 0 rg BT 402.42 403.10 Td (the ) Tj ET Q q 0 0 0 rg BT 417.30 403.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 444.40 403.10 Td (that ) Tj ET Q q 0 0 0 rg BT 462.05 403.10 Td (the ) Tj ET Q q 0 0 0 rg BT 476.93 403.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 493.47 403.10 Td (value ) Tj ET Q q 0 0 0 rg BT 517.79 403.10 Td (is ) Tj ET Q q 0 0 0 rg BT 527.12 403.10 Td (less ) Tj ET Q q 0 0 0 rg BT 544.79 403.10 Td (than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.52 391.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 106.81 391.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 125.22 391.10 Td (basis; ) Tj ET Q q 0 0 0 rg BT 150.31 391.10 Td (any ) Tj ET Q q 0 0 0 rg BT 167.05 391.10 Td (dif) Tj ET Q q 0 0 0 rg BT 177.98 391.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 209.70 391.10 Td (between ) Tj ET Q q 0 0 0 rg BT 245.32 391.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 261.51 391.10 Td (value ) Tj ET Q q 0 0 0 rg BT 285.47 391.10 Td (and ) Tj ET Q q 0 0 0 rg BT 302.21 391.10 Td (the ) Tj ET Q q 0 0 0 rg BT 316.73 391.10 Td (new ) Tj ET Q q 0 0 0 rg BT 335.70 391.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 377.99 391.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 396.40 391.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 418.71 391.10 Td (\(net ) Tj ET Q q 0 0 0 rg BT 436.56 391.10 Td (of ) Tj ET Q q 0 0 0 rg BT 447.20 391.10 Td (the ) Tj ET Q q 0 0 0 rg BT 461.72 391.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 486.79 391.10 Td (loss\) ) Tj ET Q q 0 0 0 rg BT 507.99 391.10 Td (is ) Tj ET Q q 0 0 0 rg BT 516.96 391.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 554.24 391.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.10 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 103.03 379.10 Td (other ) Tj ET Q q 0 0 0 rg BT 126.07 379.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 189.11 379.10 Td (income ) Tj ET Q q 0 0 0 rg BT 221.04 379.10 Td (\(losses\), ) Tj ET Q q 0 0 0 rg BT 256.59 379.10 Td (net ) Tj ET Q q 0 0 0 rg BT 271.31 379.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.14 379.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 325.73 379.10 Td (income ) Tj ET Q q 0 0 0 rg BT 357.66 379.10 Td (taxes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.10 Td (For ) Tj ET Q q 0 0 0 rg BT 66.03 362.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 93.16 362.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 135.56 362.10 Td (the ) Tj ET Q q 0 0 0 rg BT 149.92 362.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 190.94 362.10 Td (evaluates ) Tj ET Q q 0 0 0 rg BT 230.28 362.10 Td (its ) Tj ET Q q 0 0 0 rg BT 241.87 362.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 269.56 362.10 Td (to ) Tj ET Q q 0 0 0 rg BT 279.47 362.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 304.38 362.10 Td (its ) Tj ET Q q 0 0 0 rg BT 315.96 362.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 361.98 362.10 Td (in ) Tj ET Q q 0 0 0 rg BT 371.90 362.10 Td (the ) Tj ET Q q 0 0 0 rg BT 386.25 362.10 Td (issuer ) Tj ET Q q 0 0 0 rg BT 411.72 362.10 Td (for ) Tj ET Q q 0 0 0 rg BT 425.52 362.10 Td (a ) Tj ET Q q 0 0 0 rg BT 432.09 362.10 Td (period ) Tj ET Q q 0 0 0 rg BT 459.78 362.10 Td (of ) Tj ET Q q 0 0 0 rg BT 470.25 362.10 Td (time ) Tj ET Q q 0 0 0 rg BT 490.16 362.10 Td (suf) Tj ET Q q 0 0 0 rg BT 502.20 362.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 529.88 362.10 Td (to ) Tj ET Q q 0 0 0 rg BT 539.79 362.10 Td (allow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.64 350.10 Td (any ) Tj ET Q q 0 0 0 rg BT 80.06 350.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 125.90 350.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 162.86 350.10 Td (in ) Tj ET Q q 0 0 0 rg BT 172.61 350.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 188.47 350.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 214.60 350.10 Td ( ) Tj ET Q q 0 0 0 rg BT 216.58 350.10 Td (Evidence ) Tj ET Q q 0 0 0 rg BT 255.77 350.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 301.06 350.10 Td (to ) Tj ET Q q 0 0 0 rg BT 310.82 350.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 352.78 350.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 398.62 350.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 435.58 350.10 Td (are ) Tj ET Q q 0 0 0 rg BT 449.76 350.10 Td (analysts' ) Tj ET Q q 0 0 0 rg BT 485.76 350.10 Td (reports ) Tj ET Q q 0 0 0 rg BT 515.51 350.10 Td (on ) Tj ET Q q 0 0 0 rg BT 527.49 350.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.68 350.10 Td (near) Tj ET Q q 0 0 0 rg BT 558.69 350.10 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.10 Td (term ) Tj ET Q q 0 0 0 rg BT 71.31 338.10 Td (prospects ) Tj ET Q q 0 0 0 rg BT 112.06 338.10 Td (of ) Tj ET Q q 0 0 0 rg BT 123.37 338.10 Td (the ) Tj ET Q q 0 0 0 rg BT 138.57 338.10 Td (issuer ) Tj ET Q q 0 0 0 rg BT 164.89 338.10 Td (and ) Tj ET Q q 0 0 0 rg BT 182.31 338.10 Td (the ) Tj ET Q q 0 0 0 rg BT 197.51 338.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 235.47 338.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 276.23 338.10 Td (of ) Tj ET Q q 0 0 0 rg BT 287.54 338.10 Td (the ) Tj ET Q q 0 0 0 rg BT 302.74 338.10 Td (issuer ) Tj ET Q q 0 0 0 rg BT 329.06 338.10 Td (or ) Tj ET Q q 0 0 0 rg BT 340.37 338.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.57 338.10 Td (industry) Tj ET Q q 0 0 0 rg BT 387.70 338.10 Td (, ) Tj ET Q q 0 0 0 rg BT 393.18 338.10 Td (in ) Tj ET Q q 0 0 0 rg BT 403.95 338.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 439.70 338.10 Td (to ) Tj ET Q q 0 0 0 rg BT 450.46 338.10 Td (the ) Tj ET Q q 0 0 0 rg BT 465.66 338.10 Td (length ) Tj ET Q q 0 0 0 rg BT 493.64 338.10 Td (and ) Tj ET Q q 0 0 0 rg BT 511.06 338.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 538.48 338.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 338.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.10 Td (market ) Tj ET Q q 0 0 0 rg BT 80.25 326.10 Td (value ) Tj ET Q q 0 0 0 rg BT 104.38 326.10 Td (decline. ) Tj ET Q q 0 0 0 rg BT 138.24 326.10 Td ( ) Tj ET Q q 0 0 0 rg BT 140.72 326.10 Td (If ) Tj ET Q q 0 0 0 rg BT 149.86 326.10 Td (OTTI ) Tj ET Q q 0 0 0 rg BT 175.11 326.10 Td (is ) Tj ET Q q 0 0 0 rg BT 184.26 326.10 Td (identified, ) Tj ET Q q 0 0 0 rg BT 227.57 326.10 Td (the ) Tj ET Q q 0 0 0 rg BT 242.26 326.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 269.74 326.10 Td (security ) Tj ET Q q 0 0 0 rg BT 303.88 326.10 Td (is ) Tj ET Q q 0 0 0 rg BT 313.03 326.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 348.84 326.10 Td (to ) Tj ET Q q 0 0 0 rg BT 359.10 326.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 375.46 326.10 Td (value ) Tj ET Q q 0 0 0 rg BT 399.59 326.10 Td (through ) Tj ET Q q 0 0 0 rg BT 433.18 326.10 Td (a ) Tj ET Q q 0 0 0 rg BT 440.10 326.10 Td (char) Tj ET Q q 0 0 0 rg BT 457.13 326.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 469.05 326.10 Td (to ) Tj ET Q q 0 0 0 rg BT 479.31 326.10 Td (earnings. ) Tj ET Q q 0 0 0 rg BT 518.17 326.10 Td (See ) Tj ET Q q 0 0 0 rg BT 535.09 326.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 557.01 326.10 Td (5 ) Tj ET Q q 0 0 0 rg BT 564.51 326.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 314.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 314.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.55 314.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 130.82 314.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 170.53 314.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 216.91 314.10 Td (for ) Tj ET Q q 0 0 0 rg BT 231.07 314.10 Td (further ) Tj ET Q q 0 0 0 rg BT 260.78 314.10 Td (discussion ) Tj ET Q q 0 0 0 rg BT 304.95 314.10 Td (of ) Tj ET Q q 0 0 0 rg BT 315.78 314.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.50 314.10 Td (other) Tj ET Q q 0 0 0 rg BT 350.84 314.10 Td (-than-temporary ) Tj ET Q q 0 0 0 rg BT 418.32 314.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 466.91 314.10 Td (on ) Tj ET Q q 0 0 0 rg BT 479.41 314.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 506.91 314.10 Td (securities.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 297.10 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 88.22 297.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 114.23 297.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 161.37 297.10 Td (costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.37 297.10 Td ( ) Tj ET Q q 0 0 0 rg BT 182.94 297.10 Td (- ) Tj ET Q q 0 0 0 rg BT 187.49 297.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 210.18 297.10 Td (defers ) Tj ET Q q 0 0 0 rg BT 236.18 297.10 Td (brokers) Tj ET Q q 0 0 0 rg BT 268.75 297.10 Td ( ) Tj ET Q q 0 0 0 rg BT 270.33 297.10 Td (commissions, ) Tj ET Q q 0 0 0 rg BT 326.63 297.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 364.30 297.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 386.42 297.10 Td (and ) Tj ET Q q 0 0 0 rg BT 402.43 297.10 Td (other ) Tj ET Q q 0 0 0 rg BT 424.55 297.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 477.78 297.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 499.35 297.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 531.46 297.10 Td (relating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 285.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.17 285.10 Td (the) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.39 285.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.78 285.10 Td (successful ) Tj ET Q q 0 0 0 rg BT 118.26 285.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 164.54 285.10 Td (of ) Tj ET Q q 0 0 0 rg BT 175.26 285.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 217.64 285.10 Td (written ) Tj ET Q q 0 0 0 rg BT 248.36 285.10 Td (to ) Tj ET Q q 0 0 0 rg BT 258.53 285.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.13 285.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 299.96 285.10 Td (they ) Tj ET Q q 0 0 0 rg BT 319.56 285.10 Td (are ) Tj ET Q q 0 0 0 rg BT 334.16 285.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 379.87 285.10 Td (recoverable. ) Tj ET Q q 0 0 0 rg BT 431.21 285.10 Td (These ) Tj ET Q q 0 0 0 rg BT 457.48 285.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 479.87 285.10 Td (are ) Tj ET Q q 0 0 0 rg BT 494.47 285.10 Td (then ) Tj ET Q q 0 0 0 rg BT 514.08 285.10 Td (expensed ) Tj ET Q q 0 0 0 rg BT 553.67 285.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 273.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.77 273.10 Td (related ) Tj ET Q q 0 0 0 rg BT 94.53 273.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 137.08 273.10 Td (are ) Tj ET Q q 0 0 0 rg BT 151.84 273.10 Td (earned. ) Tj ET Q q 0 0 0 rg BT 183.35 273.10 Td (The ) Tj ET Q q 0 0 0 rg BT 201.45 273.10 Td (method ) Tj ET Q q 0 0 0 rg BT 234.00 273.10 Td (followed ) Tj ET Q q 0 0 0 rg BT 272.10 273.10 Td (in ) Tj ET Q q 0 0 0 rg BT 282.43 273.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 333.31 273.10 Td (the ) Tj ET Q q 0 0 0 rg BT 348.08 273.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 383.94 273.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 411.49 273.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 457.92 273.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 480.47 273.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 505.81 273.10 Td (the ) Tj ET Q q 0 0 0 rg BT 520.58 273.10 Td (deferral ) Tj ET Q q 0 0 0 rg BT 554.22 273.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 261.10 Td (its ) Tj ET Q q 0 0 0 rg BT 61.10 261.10 Td (realizable ) Tj ET Q q 0 0 0 rg BT 101.61 261.10 Td (value ) Tj ET Q q 0 0 0 rg BT 124.91 261.10 Td (by ) Tj ET Q q 0 0 0 rg BT 136.56 261.10 Td (giving ) Tj ET Q q 0 0 0 rg BT 163.77 261.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 219.29 261.10 Td (to ) Tj ET Q q 0 0 0 rg BT 228.72 261.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 268.69 261.10 Td (future ) Tj ET Q q 0 0 0 rg BT 294.22 261.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 321.97 261.10 Td (and ) Tj ET Q q 0 0 0 rg BT 338.06 261.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 375.81 261.10 Td (to ) Tj ET Q q 0 0 0 rg BT 385.24 261.10 Td (be ) Tj ET Q q 0 0 0 rg BT 396.33 261.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 431.29 261.10 Td (as ) Tj ET Q q 0 0 0 rg BT 441.27 261.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 482.92 261.10 Td (are ) Tj ET Q q 0 0 0 rg BT 496.78 261.10 Td (earned. ) Tj ET Q q 0 0 0 rg BT 527.57 261.10 Td (Changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.66 249.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 101.25 249.10 Td (if ) Tj ET Q q 0 0 0 rg BT 109.24 249.10 Td (any) Tj ET Q q 0 0 0 rg BT 123.03 249.10 Td (, ) Tj ET Q q 0 0 0 rg BT 127.41 249.10 Td (are ) Tj ET Q q 0 0 0 rg BT 141.50 249.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 178.36 249.10 Td (in ) Tj ET Q q 0 0 0 rg BT 188.02 249.10 Td (the ) Tj ET Q q 0 0 0 rg BT 202.12 249.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 247.87 249.10 Td (period ) Tj ET Q q 0 0 0 rg BT 275.30 249.10 Td (in ) Tj ET Q q 0 0 0 rg BT 284.96 249.10 Td (which ) Tj ET Q q 0 0 0 rg BT 311.28 249.10 Td (they ) Tj ET Q q 0 0 0 rg BT 330.38 249.10 Td (are ) Tj ET Q q 0 0 0 rg BT 344.46 249.10 Td (determined. ) Tj ET Q q 0 0 0 rg BT 393.41 249.10 Td (Anticipated ) Tj ET Q q 0 0 0 rg BT 441.94 249.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 487.71 249.10 Td (income ) Tj ET Q q 0 0 0 rg BT 519.02 249.10 Td (is ) Tj ET Q q 0 0 0 rg BT 527.57 249.10 Td (included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.55 237.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 111.65 237.10 Td (the ) Tj ET Q q 0 0 0 rg BT 126.64 237.10 Td (realizable ) Tj ET Q q 0 0 0 rg BT 168.27 237.10 Td (value ) Tj ET Q q 0 0 0 rg BT 192.70 237.10 Td (of ) Tj ET Q q 0 0 0 rg BT 203.80 237.10 Td (the ) Tj ET Q q 0 0 0 rg BT 218.79 237.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 254.87 237.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 282.64 237.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 329.29 237.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 353.95 237.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 377.65 237.10 Td ( ) Tj ET Q q 0 0 0 rg BT 380.42 237.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 416.50 237.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 444.27 237.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 490.93 237.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 513.70 237.10 Td (are ) Tj ET Q q 0 0 0 rg BT 528.68 237.10 Td (reported ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.10 Td (net ) Tj ET Q q 0 0 0 rg BT 64.72 225.10 Td (of ) Tj ET Q q 0 0 0 rg BT 75.55 225.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 111.35 225.10 Td (ceding ) Tj ET Q q 0 0 0 rg BT 140.51 225.10 Td (commissions.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 208.10 Td (V) Tj ET Q q 0 0 0 rg BT 55.56 208.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 92.60 208.10 Td (of ) Tj ET Q q 0 0 0 rg BT 103.50 208.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 140.51 208.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 155.86 208.10 Td (assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.33 208.10 Td (- ) Tj ET Q q 0 0 0 rg BT 188.23 208.10 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 226.34 208.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 249.46 208.10 Td (are ) Tj ET Q q 0 0 0 rg BT 264.24 208.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 310.68 208.10 Td (using ) Tj ET Q q 0 0 0 rg BT 334.92 208.10 Td (the ) Tj ET Q q 0 0 0 rg BT 349.72 208.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 371.73 208.10 Td (and ) Tj ET Q q 0 0 0 rg BT 388.75 208.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 422.43 208.10 Td (method ) Tj ET Q q 0 0 0 rg BT 455.00 208.10 Td (of ) Tj ET Q q 0 0 0 rg BT 465.91 208.10 Td (accounting. ) Tj ET Q q 0 0 0 rg BT 514.85 208.10 Td ( ) Tj ET Q q 0 0 0 rg BT 517.43 208.10 Td ( ) Tj ET Q q 0 0 0 rg BT 520.00 208.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 547.57 208.10 Td (this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (method ) Tj ET Q q 0 0 0 rg BT 82.02 196.10 Td (the ) Tj ET Q q 0 0 0 rg BT 96.27 196.10 Td (future ) Tj ET Q q 0 0 0 rg BT 122.18 196.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 136.42 196.10 Td (consequences ) Tj ET Q q 0 0 0 rg BT 193.43 196.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 240.99 196.10 Td (to ) Tj ET Q q 0 0 0 rg BT 250.80 196.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 293.92 196.10 Td (dif) Tj ET Q q 0 0 0 rg BT 304.85 196.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 340.18 196.10 Td (in ) Tj ET Q q 0 0 0 rg BT 349.99 196.10 Td (the ) Tj ET Q q 0 0 0 rg BT 364.24 196.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 378.48 196.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 400.51 196.10 Td (of ) Tj ET Q q 0 0 0 rg BT 410.87 196.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 438.73 196.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 477.97 196.10 Td (and ) Tj ET Q q 0 0 0 rg BT 494.44 196.10 Td (items ) Tj ET Q q 0 0 0 rg BT 518.13 196.10 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 83.03 184.10 Td (in ) Tj ET Q q 0 0 0 rg BT 93.29 184.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 120.77 184.10 Td (and ) Tj ET Q q 0 0 0 rg BT 137.69 184.10 Td (the ) Tj ET Q q 0 0 0 rg BT 152.39 184.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 189.86 184.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 229.00 184.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 251.48 184.10 Td (of ) Tj ET Q q 0 0 0 rg BT 262.30 184.10 Td (such ) Tj ET Q q 0 0 0 rg BT 283.11 184.10 Td (items ) Tj ET Q q 0 0 0 rg BT 307.26 184.10 Td (are ) Tj ET Q q 0 0 0 rg BT 321.95 184.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 368.30 184.10 Td (in ) Tj ET Q q 0 0 0 rg BT 378.56 184.10 Td (the ) Tj ET Q q 0 0 0 rg BT 393.26 184.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 430.73 184.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 475.42 184.10 Td (by ) Tj ET Q q 0 0 0 rg BT 487.91 184.10 Td (recording ) Tj ET Q q 0 0 0 rg BT 528.71 184.10 Td (deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 64.72 172.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 104.43 172.10 Td (or ) Tj ET Q q 0 0 0 rg BT 115.26 172.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 151.07 172.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 165.79 172.10 Td (assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.10 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 87.88 155.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 102.44 155.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 128.12 155.10 Td (related ) Tj ET Q q 0 0 0 rg BT 157.67 155.10 Td (to ) Tj ET Q q 0 0 0 rg BT 167.80 155.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.36 155.10 Td (carry-forward ) Tj ET Q q 0 0 0 rg BT 240.23 155.10 Td (of ) Tj ET Q q 0 0 0 rg BT 250.91 155.10 Td (unused ) Tj ET Q q 0 0 0 rg BT 281.59 155.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 296.15 155.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 322.39 155.10 Td (and ) Tj ET Q q 0 0 0 rg BT 339.18 155.10 Td (credits ) Tj ET Q q 0 0 0 rg BT 368.18 155.10 Td (and ) Tj ET Q q 0 0 0 rg BT 384.97 155.10 Td (those ) Tj ET Q q 0 0 0 rg BT 408.43 155.10 Td (arising ) Tj ET Q q 0 0 0 rg BT 437.99 155.10 Td (from ) Tj ET Q q 0 0 0 rg BT 459.78 155.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 503.22 155.10 Td (dif) Tj ET Q q 0 0 0 rg BT 514.15 155.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 549.80 155.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 96.70 143.10 Td (only ) Tj ET Q q 0 0 0 rg BT 117.32 143.10 Td (to ) Tj ET Q q 0 0 0 rg BT 127.94 143.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.00 143.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 170.28 143.10 Td (that ) Tj ET Q q 0 0 0 rg BT 188.12 143.10 Td (it ) Tj ET Q q 0 0 0 rg BT 196.51 143.10 Td (is ) Tj ET Q q 0 0 0 rg BT 206.03 143.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 243.85 143.10 Td (that ) Tj ET Q q 0 0 0 rg BT 261.69 143.10 Td (future ) Tj ET Q q 0 0 0 rg BT 288.41 143.10 Td (taxable ) Tj ET Q q 0 0 0 rg BT 320.12 143.10 Td (income ) Tj ET Q q 0 0 0 rg BT 352.40 143.10 Td (will ) Tj ET Q q 0 0 0 rg BT 370.80 143.10 Td (be ) Tj ET Q q 0 0 0 rg BT 383.08 143.10 Td (available ) Tj ET Q q 0 0 0 rg BT 422.01 143.10 Td (against ) Tj ET Q q 0 0 0 rg BT 453.17 143.10 Td (which ) Tj ET Q q 0 0 0 rg BT 480.45 143.10 Td (they ) Tj ET Q q 0 0 0 rg BT 500.51 143.10 Td (can ) Tj ET Q q 0 0 0 rg BT 517.23 143.10 Td (be ) Tj ET Q q 0 0 0 rg BT 529.51 143.10 Td (utilized. ) Tj ET Q q 0 0 0 rg BT 564.50 143.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.10 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 87.93 131.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 102.56 131.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 128.29 131.10 Td (and ) Tj ET Q q 0 0 0 rg BT 145.14 131.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 184.76 131.10 Td (are ) Tj ET Q q 0 0 0 rg BT 199.37 131.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 240.10 131.10 Td (using ) Tj ET Q q 0 0 0 rg BT 264.17 131.10 Td (enacted ) Tj ET Q q 0 0 0 rg BT 297.11 131.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 311.73 131.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 333.02 131.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 370.96 131.10 Td (to ) Tj ET Q q 0 0 0 rg BT 381.14 131.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 405.76 131.10 Td (to ) Tj ET Q q 0 0 0 rg BT 415.95 131.10 Td (taxable ) Tj ET Q q 0 0 0 rg BT 447.23 131.10 Td (income ) Tj ET Q q 0 0 0 rg BT 479.07 131.10 Td (in ) Tj ET Q q 0 0 0 rg BT 489.25 131.10 Td (the ) Tj ET Q q 0 0 0 rg BT 503.87 131.10 Td (years ) Tj ET Q q 0 0 0 rg BT 527.38 131.10 Td (in ) Tj ET Q q 0 0 0 rg BT 537.56 131.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.10 Td (those ) Tj ET Q q 0 0 0 rg BT 73.79 119.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 117.57 119.10 Td (dif) Tj ET Q q 0 0 0 rg BT 128.50 119.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 164.49 119.10 Td (are ) Tj ET Q q 0 0 0 rg BT 179.38 119.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 217.60 119.10 Td (to ) Tj ET Q q 0 0 0 rg BT 228.07 119.10 Td (be ) Tj ET Q q 0 0 0 rg BT 240.19 119.10 Td (recovered ) Tj ET Q q 0 0 0 rg BT 282.29 119.10 Td (or ) Tj ET Q q 0 0 0 rg BT 293.31 119.10 Td (settled. ) Tj ET Q q 0 0 0 rg BT 324.40 119.10 Td (The ) Tj ET Q q 0 0 0 rg BT 342.63 119.10 Td (ef) Tj ET Q q 0 0 0 rg BT 350.22 119.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 367.89 119.10 Td (on ) Tj ET Q q 0 0 0 rg BT 380.58 119.10 Td (future ) Tj ET Q q 0 0 0 rg BT 407.14 119.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 422.04 119.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 448.06 119.10 Td (and ) Tj ET Q q 0 0 0 rg BT 465.18 119.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 505.08 119.10 Td (of ) Tj ET Q q 0 0 0 rg BT 516.10 119.10 Td (a ) Tj ET Q q 0 0 0 rg BT 523.22 119.10 Td (change ) Tj ET Q q 0 0 0 rg BT 554.23 119.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 64.72 107.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 86.09 107.10 Td (is ) Tj ET Q q 0 0 0 rg BT 95.26 107.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 141.63 107.10 Td (in ) Tj ET Q q 0 0 0 rg BT 151.90 107.10 Td (income ) Tj ET Q q 0 0 0 rg BT 183.84 107.10 Td (in ) Tj ET Q q 0 0 0 rg BT 194.12 107.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.83 107.10 Td (period ) Tj ET Q q 0 0 0 rg BT 236.88 107.10 Td (that ) Tj ET Q q 0 0 0 rg BT 254.38 107.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 290.20 107.10 Td (the ) Tj ET Q q 0 0 0 rg BT 304.92 107.10 Td (date ) Tj ET Q q 0 0 0 rg BT 324.07 107.10 Td (of ) Tj ET Q q 0 0 0 rg BT 334.90 107.10 Td (enactment ) Tj ET Q q 0 0 0 rg BT 378.49 107.10 Td (or ) Tj ET Q q 0 0 0 rg BT 389.32 107.10 Td (substantive ) Tj ET Q q 0 0 0 rg BT 436.82 107.10 Td (enactment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.10 Td (In ) Tj ET Q q 0 0 0 rg BT 61.03 90.10 Td (assessing ) Tj ET Q q 0 0 0 rg BT 100.96 90.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.88 90.10 Td (need ) Tj ET Q q 0 0 0 rg BT 137.46 90.10 Td (for ) Tj ET Q q 0 0 0 rg BT 151.83 90.10 Td (a ) Tj ET Q q 0 0 0 rg BT 158.97 90.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 198.88 90.10 Td (allowance, ) Tj ET Q q 0 0 0 rg BT 244.02 90.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 267.84 90.10 Td (considers ) Tj ET Q q 0 0 0 rg BT 308.31 90.10 Td (both ) Tj ET Q q 0 0 0 rg BT 328.79 90.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 363.16 90.10 Td (and ) Tj ET Q q 0 0 0 rg BT 380.30 90.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 416.88 90.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 455.12 90.10 Td (related ) Tj ET Q q 0 0 0 rg BT 485.02 90.10 Td (to ) Tj ET Q q 0 0 0 rg BT 495.50 90.10 Td (the ) Tj ET Q q 0 0 0 rg BT 510.43 90.10 Td (likelihood ) Tj ET Q q 0 0 0 rg BT 553.68 90.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.10 Td (realization ) Tj ET Q q 0 0 0 rg BT 94.26 78.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.66 78.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.94 78.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 154.31 78.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 168.59 78.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 196.48 78.10 Td (If, ) Tj ET Q q 0 0 0 rg BT 207.71 78.10 Td (based ) Tj ET Q q 0 0 0 rg BT 232.54 78.10 Td (on ) Tj ET Q q 0 0 0 rg BT 244.61 78.10 Td (the ) Tj ET Q q 0 0 0 rg BT 258.89 78.10 Td (weight ) Tj ET Q q 0 0 0 rg BT 288.17 78.10 Td (of ) Tj ET Q q 0 0 0 rg BT 298.56 78.10 Td (available ) Tj ET Q q 0 0 0 rg BT 336.72 78.10 Td (evidence, ) Tj ET Q q 0 0 0 rg BT 376.81 78.10 Td (it ) Tj ET Q q 0 0 0 rg BT 384.43 78.10 Td (is ) Tj ET Q q 0 0 0 rg BT 393.17 78.10 Td (more ) Tj ET Q q 0 0 0 rg BT 415.78 78.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 440.62 78.10 Td (than ) Tj ET Q q 0 0 0 rg BT 459.90 78.10 Td (not ) Tj ET Q q 0 0 0 rg BT 474.74 78.10 Td (the ) Tj ET Q q 0 0 0 rg BT 489.02 78.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 524.39 78.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 538.67 78.10 Td (assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.10 Td (will ) Tj ET Q q 0 0 0 rg BT 67.19 66.10 Td (not ) Tj ET Q q 0 0 0 rg BT 81.60 66.10 Td (be ) Tj ET Q q 0 0 0 rg BT 92.67 66.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 125.94 66.10 Td (or ) Tj ET Q q 0 0 0 rg BT 135.91 66.10 Td (if ) Tj ET Q q 0 0 0 rg BT 143.65 66.10 Td (it ) Tj ET Q q 0 0 0 rg BT 150.84 66.10 Td (is ) Tj ET Q q 0 0 0 rg BT 159.14 66.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 191.86 66.10 Td (premature ) Tj ET Q q 0 0 0 rg BT 234.03 66.10 Td (to ) Tj ET Q q 0 0 0 rg BT 243.44 66.10 Td (conclude ) Tj ET Q q 0 0 0 rg BT 281.17 66.10 Td (that ) Tj ET Q q 0 0 0 rg BT 297.79 66.10 Td (these ) Tj ET Q q 0 0 0 rg BT 319.97 66.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 344.93 66.10 Td (will ) Tj ET Q q 0 0 0 rg BT 362.12 66.10 Td (be ) Tj ET Q q 0 0 0 rg BT 373.19 66.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 406.47 66.10 Td (in ) Tj ET Q q 0 0 0 rg BT 415.88 66.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.73 66.10 Td (near ) Tj ET Q q 0 0 0 rg BT 448.57 66.10 Td (future, ) Tj ET Q q 0 0 0 rg BT 476.58 66.10 Td (a ) Tj ET Q q 0 0 0 rg BT 482.65 66.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 521.49 66.10 Td (allowance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 54.10 Td (is ) Tj ET Q q 0 0 0 rg BT 59.17 54.10 Td (recorded. ) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (35) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Claims ) Tj ET Q q 0 0 0 rg BT 81.23 742.25 Td (liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.01 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 121.34 742.25 Td (- ) Tj ET Q q 0 0 0 rg BT 126.84 742.25 Td (The ) Tj ET Q q 0 0 0 rg BT 144.72 742.25 Td (provision ) Tj ET Q q 0 0 0 rg BT 184.83 742.25 Td (for ) Tj ET Q q 0 0 0 rg BT 198.83 742.25 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 228.38 742.25 Td (claims ) Tj ET Q q 0 0 0 rg BT 256.81 742.25 Td (represent ) Tj ET Q q 0 0 0 rg BT 295.79 742.25 Td (the ) Tj ET Q q 0 0 0 rg BT 310.34 742.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 351.00 742.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 390.55 742.25 Td (for ) Tj ET Q q 0 0 0 rg BT 404.54 742.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 440.19 742.25 Td (claims, ) Tj ET Q q 0 0 0 rg BT 471.13 742.25 Td (plus ) Tj ET Q q 0 0 0 rg BT 490.13 742.25 Td (those ) Tj ET Q q 0 0 0 rg BT 513.58 742.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 549.23 742.25 Td (but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (not ) Tj ET Q q 0 0 0 rg BT 66.06 730.25 Td (yet ) Tj ET Q q 0 0 0 rg BT 81.55 730.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 118.14 730.25 Td (and ) Tj ET Q q 0 0 0 rg BT 135.86 730.25 Td (the ) Tj ET Q q 0 0 0 rg BT 151.35 730.25 Td (related ) Tj ET Q q 0 0 0 rg BT 181.83 730.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 223.43 730.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 242.27 730.25 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 289.43 730.25 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 331.31 730.25 Td (Unpaid ) Tj ET Q q 0 0 0 rg BT 364.02 730.25 Td (claims ) Tj ET Q q 0 0 0 rg BT 393.41 730.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 432.78 730.25 Td (are ) Tj ET Q q 0 0 0 rg BT 448.27 730.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 496.53 730.25 Td (using ) Tj ET Q q 0 0 0 rg BT 521.47 730.25 Td (case-basis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (evaluations ) Tj ET Q q 0 0 0 rg BT 97.33 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 113.55 718.25 Td (statistical ) Tj ET Q q 0 0 0 rg BT 153.11 718.25 Td (analyses, ) Tj ET Q q 0 0 0 rg BT 191.27 718.25 Td (including ) Tj ET Q q 0 0 0 rg BT 230.83 718.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 270.93 718.25 Td (industry ) Tj ET Q q 0 0 0 rg BT 305.50 718.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 322.84 718.25 Td (data, ) Tj ET Q q 0 0 0 rg BT 343.79 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 360.01 718.25 Td (represent ) Tj ET Q q 0 0 0 rg BT 398.44 718.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 437.44 718.25 Td (of ) Tj ET Q q 0 0 0 rg BT 447.56 718.25 Td (the ) Tj ET Q q 0 0 0 rg BT 461.56 718.25 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 496.11 718.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 514.01 718.25 Td (of ) Tj ET Q q 0 0 0 rg BT 524.12 718.25 Td (all ) Tj ET Q q 0 0 0 rg BT 535.91 718.25 Td (claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (incurred. ) Tj ET Q q 0 0 0 rg BT 87.51 706.25 Td (Although ) Tj ET Q q 0 0 0 rg BT 127.47 706.25 Td (considerable ) Tj ET Q q 0 0 0 rg BT 180.18 706.25 Td (variability ) Tj ET Q q 0 0 0 rg BT 223.46 706.25 Td (is ) Tj ET Q q 0 0 0 rg BT 232.31 706.25 Td (inherent ) Tj ET Q q 0 0 0 rg BT 267.25 706.25 Td (in ) Tj ET Q q 0 0 0 rg BT 277.21 706.25 Td (such ) Tj ET Q q 0 0 0 rg BT 297.72 706.25 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 339.61 706.25 Td (management ) Tj ET Q q 0 0 0 rg BT 392.88 706.25 Td (believes ) Tj ET Q q 0 0 0 rg BT 427.82 706.25 Td (that ) Tj ET Q q 0 0 0 rg BT 445.00 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 459.39 706.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 492.68 706.25 Td (for ) Tj ET Q q 0 0 0 rg BT 506.52 706.25 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 535.91 706.25 Td (claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (is ) Tj ET Q q 0 0 0 rg BT 58.59 694.25 Td (adequate. ) Tj ET Q q 0 0 0 rg BT 98.40 694.25 Td (The ) Tj ET Q q 0 0 0 rg BT 115.86 694.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 154.99 694.25 Td (are ) Tj ET Q q 0 0 0 rg BT 169.12 694.25 Td (continually ) Tj ET Q q 0 0 0 rg BT 216.03 694.25 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 254.59 694.25 Td (and ) Tj ET Q q 0 0 0 rg BT 270.95 694.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 306.19 694.25 Td (as ) Tj ET Q q 0 0 0 rg BT 316.44 694.25 Td (necessary; ) Tj ET Q q 0 0 0 rg BT 360.00 694.25 Td (such ) Tj ET Q q 0 0 0 rg BT 380.25 694.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 429.94 694.25 Td (are ) Tj ET Q q 0 0 0 rg BT 444.07 694.25 Td (included ) Tj ET Q q 0 0 0 rg BT 480.42 694.25 Td (in ) Tj ET Q q 0 0 0 rg BT 490.11 694.25 Td (current ) Tj ET Q q 0 0 0 rg BT 520.35 694.25 Td (operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 682.25 Td (are ) Tj ET Q q 0 0 0 rg BT 81.65 682.25 Td (accounted ) Tj ET Q q 0 0 0 rg BT 124.68 682.25 Td (for ) Tj ET Q q 0 0 0 rg BT 138.84 682.25 Td (as ) Tj ET Q q 0 0 0 rg BT 149.67 682.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 184.38 682.25 Td (in ) Tj ET Q q 0 0 0 rg BT 194.65 682.25 Td (estimates. ) Tj ET Q endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (IV) Tj ET Q q 0 0 0 rg BT 59.82 742.25 Td (. ) Tj ET Q q 0 0 0 rg BT 64.82 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 67.32421875 740.68505859375 m 174.3017578125 740.68505859375 l s q 0 0 0 rg BT 67.32 742.25 Td (OPERA) Tj ET Q q 0 0 0 rg BT 101.58 742.25 Td (TING ) Tj ET Q q 0 0 0 rg BT 129.64 742.25 Td (RESUL) Tj ET Q q 0 0 0 rg BT 162.07 742.25 Td (TS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.45 Td (Y) Tj ET Q q 0 0 0 rg BT 56.11 718.45 Td (ear) Tj ET Q q 0 0 0 rg BT 69.81 718.45 Td ( ) Tj ET Q q 0 0 0 rg BT 72.31 718.45 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.37 718.45 Td (December) Tj ET Q q 0 0 0 rg BT 143.50 718.45 Td (31, ) Tj ET Q q 0 0 0 rg BT 161.00 718.45 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.00 718.45 Td ( ) Tj ET Q q 0 0 0 rg BT 183.50 718.45 Td (compar) Tj ET Q q 0 0 0 rg BT 216.08 718.45 Td (ed ) Tj ET Q q 0 0 0 rg BT 228.58 718.45 Td (to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.41 718.45 Td (year) Tj ET Q q 0 0 0 rg BT 258.11 718.45 Td ( ) Tj ET Q q 0 0 0 rg BT 260.61 718.45 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.17 718.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.67 718.45 Td (December) Tj ET Q q 0 0 0 rg BT 331.80 718.45 Td (31, ) Tj ET Q q 0 0 0 rg BT 349.30 718.45 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.30 718.45 Td (: ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 699.65 Td (Gr) Tj ET Q q 0 0 0 rg BT 62.04 699.65 Td (oss ) Tj ET Q q 0 0 0 rg BT 77.32 699.65 Td (Pr) Tj ET Q q 0 0 0 rg BT 87.69 699.65 Td (emium ) Tj ET Q q 0 0 0 rg BT 119.44 699.65 Td (W) Tj ET Q q 0 0 0 rg BT 129.26 699.65 Td (ritten) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.65 Td (The ) Tj ET Q q 0 0 0 rg BT 68.05 682.65 Td (following ) Tj ET Q q 0 0 0 rg BT 109.43 682.65 Td (table ) Tj ET Q q 0 0 0 rg BT 131.37 682.65 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 181.63 682.65 Td (gross ) Tj ET Q q 0 0 0 rg BT 205.24 682.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 243.85 682.65 Td (written ) Tj ET Q q 0 0 0 rg BT 274.67 682.65 Td (by ) Tj ET Q q 0 0 0 rg BT 287.17 682.65 Td (line ) Tj ET Q q 0 0 0 rg BT 304.67 682.65 Td (of ) Tj ET Q q 0 0 0 rg BT 315.50 682.65 Td (business.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 657.90 Td (Gr) Tj ET Q q 0 0 0 rg BT 62.04 657.90 Td (oss Pr) Tj ET Q q 0 0 0 rg BT 87.69 657.90 Td (emium ) Tj ET Q q 0 0 0 rg BT 119.44 657.90 Td (W) Tj ET Q q 0 0 0 rg BT 129.26 657.90 Td (ritten by Line of Business \($ in '000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 652.15 313.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 652.15 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 652.15 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 652.15 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 626.15 313.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 626.15 72.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 626.15 72.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 626.15 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 602.15 313.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 602.15 72.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 602.15 72.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 602.15 55.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 652.15 m 435.5 652.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 638.15 m 435.5 638.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 652.15 m 507.5 652.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 638.15 m 507.5 638.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 652.15 m 562.5 652.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 638.15 m 562.5 638.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 638.15 m 435.5 638.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 638.15 m 507.5 638.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 602.15 m 435.5 602.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 602.15 m 507.5 602.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 602.15 m 435.5 602.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 591.15 m 435.5 591.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 589.15 m 435.5 589.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 602.15 m 507.5 602.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 591.15 m 507.5 591.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 589.15 m 507.5 589.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 602.15 m 562.5 602.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 591.15 m 562.5 591.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 589.15 m 562.5 589.15 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 642.83 Td (Year Ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.00 642.83 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.00 642.83 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.85 642.83 Td (% Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 628.77 Td (Commercial automobile) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.00 628.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 628.77 Td (119,539) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.00 628.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 628.77 Td (88,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 628.77 Td (35.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 628.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 616.77 Td (Surety) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.15 616.77 Td (2,959) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 616.77 Td (4,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 616.77 Td (\(28.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 616.77 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 604.77 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.30 604.77 Td (\(66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.65 604.77 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 604.77 Td (351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.45 604.77 Td (\(118.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 604.77 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 592.88 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.00 592.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 592.77 Td (122,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.00 592.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 592.77 Td (93,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.75 592.77 Td (31.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 592.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 573.65 Td (For ) Tj ET Q q 0 0 0 rg BT 66.47 573.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.26 573.65 Td (year ) Tj ET Q q 0 0 0 rg BT 101.05 573.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 127.50 573.65 Td (December ) Tj ET Q q 0 0 0 rg BT 171.17 573.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 186.25 573.65 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.25 573.65 Td (, ) Tj ET Q q 0 0 0 rg BT 211.32 573.65 Td (gross ) Tj ET Q q 0 0 0 rg BT 235.01 573.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 273.70 573.65 Td (written ) Tj ET Q q 0 0 0 rg BT 304.60 573.65 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.73 573.65 Td ($122.4 ) Tj ET Q q 0 0 0 rg BT 352.81 573.65 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.70 573.65 Td ( ) Tj ET Q q 0 0 0 rg BT 384.28 573.65 Td (compared ) Tj ET Q q 0 0 0 rg BT 426.28 573.65 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.64 573.65 Td ($93.1 ) Tj ET Q q 0 0 0 rg BT 461.71 573.65 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.61 573.65 Td ( ) Tj ET Q q 0 0 0 rg BT 493.18 573.65 Td (in ) Tj ET Q q 0 0 0 rg BT 503.54 573.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.33 573.65 Td (year ) Tj ET Q q 0 0 0 rg BT 538.12 573.65 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 561.65 Td (December ) Tj ET Q q 0 0 0 rg BT 93.58 561.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 108.57 561.65 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.57 561.65 Td (, ) Tj ET Q q 0 0 0 rg BT 133.57 561.65 Td (representing ) Tj ET Q q 0 0 0 rg BT 185.49 561.65 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.42 561.65 Td (31.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.25 561.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.75 561.65 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.50 561.65 Td (. ) Tj ET Q q 0 0 0 rg BT 258.50 561.65 Td ( ) Tj ET Q q 0 0 0 rg BT 260.81 561.65 Td (The ) Tj ET Q q 0 0 0 rg BT 278.85 561.65 Td (increase ) Tj ET Q q 0 0 0 rg BT 314.10 561.65 Td (relative ) Tj ET Q q 0 0 0 rg BT 346.58 561.65 Td (to ) Tj ET Q q 0 0 0 rg BT 356.85 561.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.56 561.65 Td (year ) Tj ET Q q 0 0 0 rg BT 391.27 561.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 417.64 561.65 Td (December ) Tj ET Q q 0 0 0 rg BT 461.22 561.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 476.21 561.65 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.21 561.65 Td ( ) Tj ET Q q 0 0 0 rg BT 498.71 561.65 Td (is ) Tj ET Q q 0 0 0 rg BT 507.87 561.65 Td (due ) Tj ET Q q 0 0 0 rg BT 524.81 561.65 Td (primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 549.65 Td (to ) Tj ET Q q 0 0 0 rg BT 60.83 549.65 Td (the ) Tj ET Q q 0 0 0 rg BT 76.10 549.65 Td (substantial ) Tj ET Q q 0 0 0 rg BT 121.92 549.65 Td (growth ) Tj ET Q q 0 0 0 rg BT 153.30 549.65 Td (of ) Tj ET Q q 0 0 0 rg BT 164.68 549.65 Td (the ) Tj ET Q q 0 0 0 rg BT 179.95 549.65 Td (core ) Tj ET Q q 0 0 0 rg BT 200.21 549.65 Td (commercial ) Tj ET Q q 0 0 0 rg BT 250.46 549.65 Td (auto ) Tj ET Q q 0 0 0 rg BT 270.72 549.65 Td (business. ) Tj ET Q q 0 0 0 rg BT 310.17 549.65 Td (During ) Tj ET Q q 0 0 0 rg BT 341.55 549.65 Td (2012, ) Tj ET Q q 0 0 0 rg BT 367.10 549.65 Td (we ) Tj ET Q q 0 0 0 rg BT 381.81 549.65 Td (implemented ) Tj ET Q q 0 0 0 rg BT 437.07 549.65 Td (a ) Tj ET Q q 0 0 0 rg BT 444.56 549.65 Td (new ) Tj ET Q q 0 0 0 rg BT 464.27 549.65 Td (business ) Tj ET Q q 0 0 0 rg BT 501.21 549.65 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 554.23 549.65 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 537.65 Td (New ) Tj ET Q q 0 0 0 rg BT 70.87 537.65 Td (Y) Tj ET Q q 0 0 0 rg BT 77.09 537.65 Td (ork ) Tj ET Q q 0 0 0 rg BT 92.76 537.65 Td (to ) Tj ET Q q 0 0 0 rg BT 102.88 537.65 Td (provide ) Tj ET Q q 0 0 0 rg BT 135.76 537.65 Td (excess ) Tj ET Q q 0 0 0 rg BT 164.20 537.65 Td (coverage ) Tj ET Q q 0 0 0 rg BT 202.62 537.65 Td (above ) Tj ET Q q 0 0 0 rg BT 228.84 537.65 Td (the ) Tj ET Q q 0 0 0 rg BT 243.39 537.65 Td (levels ) Tj ET Q q 0 0 0 rg BT 269.05 537.65 Td (of ) Tj ET Q q 0 0 0 rg BT 279.72 537.65 Td (risk ) Tj ET Q q 0 0 0 rg BT 297.06 537.65 Td (retained ) Tj ET Q q 0 0 0 rg BT 331.60 537.65 Td (by ) Tj ET Q q 0 0 0 rg BT 343.94 537.65 Td (the ) Tj ET Q q 0 0 0 rg BT 358.49 537.65 Td (insured. ) Tj ET Q q 0 0 0 rg BT 392.60 537.65 Td (T) Tj ET Q q 0 0 0 rg BT 398.01 537.65 Td (otal ) Tj ET Q q 0 0 0 rg BT 415.34 537.65 Td (gross ) Tj ET Q q 0 0 0 rg BT 438.79 537.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 477.23 537.65 Td (written ) Tj ET Q q 0 0 0 rg BT 507.90 537.65 Td (related ) Tj ET Q q 0 0 0 rg BT 537.44 537.65 Td (to ) Tj ET Q q 0 0 0 rg BT 547.55 537.65 Td (this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 525.65 Td (program, ) Tj ET Q q 0 0 0 rg BT 88.35 525.65 Td (which ) Tj ET Q q 0 0 0 rg BT 114.76 525.65 Td (renews ) Tj ET Q q 0 0 0 rg BT 145.05 525.65 Td (in ) Tj ET Q q 0 0 0 rg BT 154.80 525.65 Td (the ) Tj ET Q q 0 0 0 rg BT 168.99 525.65 Td (third ) Tj ET Q q 0 0 0 rg BT 189.85 525.65 Td (quarter) Tj ET Q q 0 0 0 rg BT 217.77 525.65 Td (, ) Tj ET Q q 0 0 0 rg BT 222.24 525.65 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.77 525.65 Td ($13.0 ) Tj ET Q q 0 0 0 rg BT 264.24 525.65 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.13 525.65 Td ( ) Tj ET Q q 0 0 0 rg BT 295.10 525.65 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.51 525.65 Td ($12.8 ) Tj ET Q q 0 0 0 rg BT 335.99 525.65 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.88 525.65 Td ( ) Tj ET Q q 0 0 0 rg BT 366.85 525.65 Td (for ) Tj ET Q q 0 0 0 rg BT 380.48 525.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.67 525.65 Td (years ) Tj ET Q q 0 0 0 rg BT 417.74 525.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 443.59 525.65 Td (December ) Tj ET Q q 0 0 0 rg BT 486.65 525.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 501.12 525.65 Td (2014 ) Tj ET Q q 0 0 0 rg BT 523.10 525.65 Td (and ) Tj ET Q q 0 0 0 rg BT 539.51 525.65 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.51 525.65 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 513.65 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 513.65 Td (, ) Tj ET Q q 0 0 0 rg BT 101.83 513.65 Td (and ) Tj ET Q q 0 0 0 rg BT 117.93 513.65 Td (is ) Tj ET Q q 0 0 0 rg BT 126.27 513.65 Td (included ) Tj ET Q q 0 0 0 rg BT 162.37 513.65 Td (in ) Tj ET Q q 0 0 0 rg BT 171.82 513.65 Td (the ) Tj ET Q q 0 0 0 rg BT 185.70 513.65 Td ("commercial ) Tj ET Q q 0 0 0 rg BT 238.65 513.65 Td (automobile" ) Tj ET Q q 0 0 0 rg BT 289.39 513.65 Td (line ) Tj ET Q q 0 0 0 rg BT 306.05 513.65 Td (of ) Tj ET Q q 0 0 0 rg BT 316.05 513.65 Td (business. ) Tj ET Q q 0 0 0 rg BT 354.11 513.65 Td (Below ) Tj ET Q q 0 0 0 rg BT 381.88 513.65 Td (we ) Tj ET Q q 0 0 0 rg BT 395.21 513.65 Td (will ) Tj ET Q q 0 0 0 rg BT 412.44 513.65 Td (refer ) Tj ET Q q 0 0 0 rg BT 432.97 513.65 Td (to ) Tj ET Q q 0 0 0 rg BT 442.42 513.65 Td (the ) Tj ET Q q 0 0 0 rg BT 456.30 513.65 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 507.94 513.65 Td (as ) Tj ET Q q 0 0 0 rg BT 517.94 513.65 Td (the ) Tj ET Q q 0 0 0 rg BT 531.82 513.65 Td ("excess ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 501.65 Td (taxi ) Tj ET Q q 0 0 0 rg BT 67.50 501.65 Td (program" ) Tj ET Q q 0 0 0 rg BT 107.95 501.65 Td (where ) Tj ET Q q 0 0 0 rg BT 134.88 501.65 Td (it ) Tj ET Q q 0 0 0 rg BT 142.94 501.65 Td (is ) Tj ET Q q 0 0 0 rg BT 152.11 501.65 Td (relevant ) Tj ET Q q 0 0 0 rg BT 186.81 501.65 Td (to ) Tj ET Q q 0 0 0 rg BT 197.09 501.65 Td (explain ) Tj ET Q q 0 0 0 rg BT 229.02 501.65 Td (certain ) Tj ET Q q 0 0 0 rg BT 258.73 501.65 Td (distinctions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.65 Td (In ) Tj ET Q q 0 0 0 rg BT 61.22 484.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.33 484.65 Td (year ) Tj ET Q q 0 0 0 rg BT 96.43 484.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 123.20 484.65 Td (December ) Tj ET Q q 0 0 0 rg BT 167.18 484.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 182.57 484.65 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.57 484.65 Td (, ) Tj ET Q q 0 0 0 rg BT 207.97 484.65 Td (gross ) Tj ET Q q 0 0 0 rg BT 231.97 484.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 270.97 484.65 Td (written ) Tj ET Q q 0 0 0 rg BT 302.19 484.65 Td (from ) Tj ET Q q 0 0 0 rg BT 324.52 484.65 Td (commercial ) Tj ET Q q 0 0 0 rg BT 374.61 484.65 Td (automobile ) Tj ET Q q 0 0 0 rg BT 422.49 484.65 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.94 484.65 Td ($1) Tj ET Q q 0 0 0 rg BT 450.57 484.65 Td (19.5 ) Tj ET Q q 0 0 0 rg BT 470.96 484.65 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.85 484.65 Td (, ) Tj ET Q q 0 0 0 rg BT 505.24 484.65 Td (representing ) Tj ET Q q 0 0 0 rg BT 557.56 484.65 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.65 Td (35.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.83 472.65 Td ( ) Tj ET Q q 0 0 0 rg BT 79.13 472.65 Td (increase ) Tj ET Q q 0 0 0 rg BT 115.18 472.65 Td (relative ) Tj ET Q q 0 0 0 rg BT 148.46 472.65 Td (to ) Tj ET Q q 0 0 0 rg BT 159.54 472.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.06 472.65 Td (year ) Tj ET Q q 0 0 0 rg BT 195.57 472.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 222.74 472.65 Td (December ) Tj ET Q q 0 0 0 rg BT 267.13 472.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 282.93 472.65 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.93 472.65 Td (. ) Tj ET Q q 0 0 0 rg BT 308.49 472.65 Td (This ) Tj ET Q q 0 0 0 rg BT 329.56 472.65 Td (substantial ) Tj ET Q q 0 0 0 rg BT 375.64 472.65 Td (increase ) Tj ET Q q 0 0 0 rg BT 411.69 472.65 Td (is ) Tj ET Q q 0 0 0 rg BT 421.66 472.65 Td (primarily ) Tj ET Q q 0 0 0 rg BT 462.17 472.65 Td (the ) Tj ET Q q 0 0 0 rg BT 477.69 472.65 Td (result ) Tj ET Q q 0 0 0 rg BT 503.21 472.65 Td (of ) Tj ET Q q 0 0 0 rg BT 514.84 472.65 Td (the ) Tj ET Q q 0 0 0 rg BT 530.35 472.65 Td (planned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.65 Td (expansion ) Tj ET Q q 0 0 0 rg BT 91.98 460.65 Td (of ) Tj ET Q q 0 0 0 rg BT 101.75 460.65 Td (the ) Tj ET Q q 0 0 0 rg BT 115.40 460.65 Td (commercial ) Tj ET Q q 0 0 0 rg BT 164.03 460.65 Td (auto ) Tj ET Q q 0 0 0 rg BT 182.68 460.65 Td (business. ) Tj ET Q q 0 0 0 rg BT 220.51 460.65 Td (Removing ) Tj ET Q q 0 0 0 rg BT 263.61 460.65 Td (the ) Tj ET Q q 0 0 0 rg BT 277.26 460.65 Td (impact ) Tj ET Q q 0 0 0 rg BT 305.90 460.65 Td (of ) Tj ET Q q 0 0 0 rg BT 315.67 460.65 Td (the ) Tj ET Q q 0 0 0 rg BT 329.32 460.65 Td (excess ) Tj ET Q q 0 0 0 rg BT 356.85 460.65 Td (taxi ) Tj ET Q q 0 0 0 rg BT 373.28 460.65 Td (program, ) Tj ET Q q 0 0 0 rg BT 411.09 460.65 Td (our ) Tj ET Q q 0 0 0 rg BT 425.86 460.65 Td (traditional ) Tj ET Q q 0 0 0 rg BT 468.39 460.65 Td (commercial ) Tj ET Q q 0 0 0 rg BT 517.02 460.65 Td (automobile ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.65 Td (gross ) Tj ET Q q 0 0 0 rg BT 72.85 448.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 110.69 448.65 Td (written ) Tj ET Q q 0 0 0 rg BT 140.75 448.65 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.03 448.65 Td ($106.5 ) Tj ET Q q 0 0 0 rg BT 187.27 448.65 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.16 448.65 Td (, ) Tj ET Q q 0 0 0 rg BT 220.39 448.65 Td (an ) Tj ET Q q 0 0 0 rg BT 231.57 448.65 Td (increase ) Tj ET Q q 0 0 0 rg BT 266.06 448.65 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.12 448.65 Td (40.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.95 448.65 Td ( ) Tj ET Q q 0 0 0 rg BT 303.69 448.65 Td (versus ) Tj ET Q q 0 0 0 rg BT 330.97 448.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.92 448.65 Td (year ) Tj ET Q q 0 0 0 rg BT 363.87 448.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 389.48 448.65 Td (December ) Tj ET Q q 0 0 0 rg BT 432.30 448.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 446.53 448.65 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.53 448.65 Td (. ) Tj ET Q q 0 0 0 rg BT 470.77 448.65 Td (Gross ) Tj ET Q q 0 0 0 rg BT 495.84 448.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 533.68 448.65 Td (written ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.65 Td (attributable ) Tj ET Q q 0 0 0 rg BT 97.47 436.65 Td (to ) Tj ET Q q 0 0 0 rg BT 107.18 436.65 Td (the ) Tj ET Q q 0 0 0 rg BT 121.33 436.65 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 158.80 436.65 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 204.62 436.65 Td (and ) Tj ET Q q 0 0 0 rg BT 220.99 436.65 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 267.36 436.65 Td (or) Tj ET Q q 0 0 0 rg BT 275.51 436.65 Td (ganic ) Tj ET Q q 0 0 0 rg BT 299.10 436.65 Td (growth ) Tj ET Q q 0 0 0 rg BT 329.37 436.65 Td (related ) Tj ET Q q 0 0 0 rg BT 358.50 436.65 Td (to ) Tj ET Q q 0 0 0 rg BT 368.21 436.65 Td (that ) Tj ET Q q 0 0 0 rg BT 385.14 436.65 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 428.18 436.65 Td (in ) Tj ET Q q 0 0 0 rg BT 437.90 436.65 Td (2014, ) Tj ET Q q 0 0 0 rg BT 462.33 436.65 Td (was ) Tj ET Q q 0 0 0 rg BT 479.81 436.65 Td (approximately ) Tj ET Q q 0 0 0 rg BT 539.51 436.65 Td ($17.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.65 Td (million ) Tj ET Q q 0 0 0 rg BT 82.43 424.65 Td (and ) Tj ET Q q 0 0 0 rg BT 100.41 424.65 Td ($12.6 ) Tj ET Q q 0 0 0 rg BT 126.45 424.65 Td (million ) Tj ET Q q 0 0 0 rg BT 158.89 424.65 Td (for ) Tj ET Q q 0 0 0 rg BT 174.09 424.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.85 424.65 Td (years ) Tj ET Q q 0 0 0 rg BT 214.49 424.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 241.91 424.65 Td (December ) Tj ET Q q 0 0 0 rg BT 286.53 424.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 302.57 424.65 Td (2014 ) Tj ET Q q 0 0 0 rg BT 326.11 424.65 Td (and ) Tj ET Q q 0 0 0 rg BT 344.09 424.65 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.09 424.65 Td (, ) Tj ET Q q 0 0 0 rg BT 370.14 424.65 Td (respectively) Tj ET Q q 0 0 0 rg BT 417.80 424.65 Td (. ) Tj ET Q q 0 0 0 rg BT 423.84 424.65 Td ( ) Tj ET Q q 0 0 0 rg BT 426.60 424.65 Td (As ) Tj ET Q q 0 0 0 rg BT 441.25 424.65 Td (a ) Tj ET Q q 0 0 0 rg BT 449.23 424.65 Td (percentage ) Tj ET Q q 0 0 0 rg BT 496.08 424.65 Td (of ) Tj ET Q q 0 0 0 rg BT 507.95 424.65 Td (the ) Tj ET Q q 0 0 0 rg BT 523.71 424.65 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.65 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 99.80 412.65 Td ( ) Tj ET Q q 0 0 0 rg BT 102.90 412.65 Td (overall ) Tj ET Q q 0 0 0 rg BT 133.75 412.65 Td (book ) Tj ET Q q 0 0 0 rg BT 156.85 412.65 Td (of ) Tj ET Q q 0 0 0 rg BT 168.27 412.65 Td (business, ) Tj ET Q q 0 0 0 rg BT 207.76 412.65 Td (commercial ) Tj ET Q q 0 0 0 rg BT 258.05 412.65 Td (auto ) Tj ET Q q 0 0 0 rg BT 278.36 412.65 Td (gross ) Tj ET Q q 0 0 0 rg BT 302.56 412.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 341.76 412.65 Td (written ) Tj ET Q q 0 0 0 rg BT 373.18 412.65 Td (represented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.36 412.65 Td (97.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.19 412.65 Td ( ) Tj ET Q q 0 0 0 rg BT 451.28 412.65 Td (of ) Tj ET Q q 0 0 0 rg BT 462.70 412.65 Td (gross, ) Tj ET Q q 0 0 0 rg BT 489.41 412.65 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.94 412.65 Td (99.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.77 412.65 Td ( ) Tj ET Q q 0 0 0 rg BT 535.86 412.65 Td (of ) Tj ET Q q 0 0 0 rg BT 547.29 412.65 Td (net, ) Tj ET Q q 0 0 0 rg BT 564.50 412.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 89.58 400.65 Td (written ) Tj ET Q q 0 0 0 rg BT 121.38 400.65 Td (in ) Tj ET Q q 0 0 0 rg BT 132.63 400.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.32 400.65 Td (year ) Tj ET Q q 0 0 0 rg BT 169.00 400.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 196.35 400.65 Td (December ) Tj ET Q q 0 0 0 rg BT 240.91 400.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 256.88 400.65 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.88 400.65 Td ( ) Tj ET Q q 0 0 0 rg BT 280.36 400.65 Td (compared ) Tj ET Q q 0 0 0 rg BT 323.26 400.65 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.51 400.65 Td (95.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.34 400.65 Td ( ) Tj ET Q q 0 0 0 rg BT 363.81 400.65 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.73 400.65 Td (105.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.56 400.65 Td (, ) Tj ET Q q 0 0 0 rg BT 418.53 400.65 Td (respectively) Tj ET Q q 0 0 0 rg BT 466.19 400.65 Td (, ) Tj ET Q q 0 0 0 rg BT 472.17 400.65 Td (during ) Tj ET Q q 0 0 0 rg BT 501.75 400.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.44 400.65 Td (year ) Tj ET Q q 0 0 0 rg BT 538.12 400.65 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.65 Td (December ) Tj ET Q q 0 0 0 rg BT 93.58 388.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 108.58 388.65 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 388.65 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.65 Td (Commercial ) Tj ET Q q 0 0 0 rg BT 102.53 371.65 Td (automobile ) Tj ET Q q 0 0 0 rg BT 150.62 371.65 Td (insurance ) Tj ET Q q 0 0 0 rg BT 192.04 371.65 Td (has ) Tj ET Q q 0 0 0 rg BT 208.47 371.65 Td (outperformed ) Tj ET Q q 0 0 0 rg BT 265.99 371.65 Td (the ) Tj ET Q q 0 0 0 rg BT 281.31 371.65 Td (overall ) Tj ET Q q 0 0 0 rg BT 312.17 371.65 Td (P&C ) Tj ET Q q 0 0 0 rg BT 335.28 371.65 Td (industry ) Tj ET Q q 0 0 0 rg BT 371.16 371.65 Td (generally ) Tj ET Q q 0 0 0 rg BT 411.46 371.65 Td (over ) Tj ET Q q 0 0 0 rg BT 432.33 371.65 Td (the ) Tj ET Q q 0 0 0 rg BT 447.65 371.65 Td (past ) Tj ET Q q 0 0 0 rg BT 466.86 371.65 Td (ten ) Tj ET Q q 0 0 0 rg BT 482.18 371.65 Td (years ) Tj ET Q q 0 0 0 rg BT 506.38 371.65 Td (based ) Tj ET Q q 0 0 0 rg BT 532.25 371.65 Td (on ) Tj ET Q q 0 0 0 rg BT 545.35 371.65 Td (data ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.65 Td (compiled ) Tj ET Q q 0 0 0 rg BT 89.71 359.65 Td (by ) Tj ET Q q 0 0 0 rg BT 102.21 359.65 Td (SNL. ) Tj ET Q q 0 0 0 rg BT 126.10 359.65 Td (Each ) Tj ET Q q 0 0 0 rg BT 148.59 359.65 Td (of ) Tj ET Q q 0 0 0 rg BT 159.42 359.65 Td (the ) Tj ET Q q 0 0 0 rg BT 174.14 359.65 Td (specialty ) Tj ET Q q 0 0 0 rg BT 212.18 359.65 Td (business ) Tj ET Q q 0 0 0 rg BT 248.57 359.65 Td (lines ) Tj ET Q q 0 0 0 rg BT 269.96 359.65 Td (on ) Tj ET Q q 0 0 0 rg BT 282.46 359.65 Td (which ) Tj ET Q q 0 0 0 rg BT 308.84 359.65 Td (Atlas) Tj ET Q q 0 0 0 rg BT 332.54 359.65 Td ( ) Tj ET Q q 0 0 0 rg BT 335.04 359.65 Td (strategy ) Tj ET Q q 0 0 0 rg BT 369.19 359.65 Td (is ) Tj ET Q q 0 0 0 rg BT 378.36 359.65 Td (focused ) Tj ET Q q 0 0 0 rg BT 411.96 359.65 Td (is ) Tj ET Q q 0 0 0 rg BT 421.13 359.65 Td (a ) Tj ET Q q 0 0 0 rg BT 428.07 359.65 Td (subset ) Tj ET Q q 0 0 0 rg BT 455.57 359.65 Td (of ) Tj ET Q q 0 0 0 rg BT 466.40 359.65 Td (this ) Tj ET Q q 0 0 0 rg BT 483.35 359.65 Td (industry ) Tj ET Q q 0 0 0 rg BT 518.63 359.65 Td (segment.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 342.65 Td (Geographic ) Tj ET Q q 0 0 0 rg BT 102.50 342.65 Td (Concentration) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 322.90 Td (Gr) Tj ET Q q 0 0 0 rg BT 62.04 322.90 Td (oss Pr) Tj ET Q q 0 0 0 rg BT 87.69 322.90 Td (emium ) Tj ET Q q 0 0 0 rg BT 119.44 322.90 Td (W) Tj ET Q q 0 0 0 rg BT 129.26 322.90 Td (ritten by State \($ in '000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 317.15 335.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 317.15 86.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 317.15 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 317.15 86.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 292.15 335.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 292.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 292.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 292.15 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 292.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 292.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 268.15 335.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 268.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 268.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 268.15 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 268.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 268.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 244.15 335.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 244.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 244.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 244.15 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 244.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 244.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 220.15 335.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 220.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 220.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 220.15 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 220.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 220.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 196.15 335.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 196.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 196.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 196.15 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 196.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 196.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 172.15 335.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 172.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 172.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 172.15 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 172.15 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 172.15 43.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 317.15 m 428.5 317.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 304.15 m 428.5 304.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 317.15 m 471.5 317.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 304.15 m 471.5 304.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 317.15 m 476.5 317.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 304.15 m 476.5 304.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 317.15 m 519.5 317.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 304.15 m 519.5 304.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 317.15 m 562.5 317.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 304.15 m 562.5 304.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 304.15 m 428.5 304.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 304.15 m 519.5 304.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 304.15 m 562.5 304.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 172.14999999999998 m 428.5 172.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 172.14999999999998 m 476.5 172.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 172.14999999999998 m 519.5 172.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 172.14999999999998 m 428.5 172.14999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 160.14999999999998 m 428.5 160.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 172.14999999999998 m 471.5 172.14999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 160.14999999999998 m 471.5 160.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 172.14999999999998 m 476.5 172.14999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 160.14999999999998 m 476.5 160.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 172.14999999999998 m 519.5 172.14999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 160.14999999999998 m 519.5 160.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 172.14999999999998 m 562.5 172.14999999999998 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 160.14999999999998 m 562.5 160.14999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 308.38 Td (Year Ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.00 307.88 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.00 307.88 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 294.77 Td (New York) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 294.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.10 294.77 Td (28,977) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.10 294.77 Td (23.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 294.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 294.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.10 294.77 Td (20,602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.10 294.77 Td (22.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 294.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 282.77 Td (Illinois) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.10 282.77 Td (12,947) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.10 282.77 Td (10.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 282.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.10 282.77 Td (11,244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.10 282.77 Td (12.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 282.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 270.77 Td (Michigan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.10 270.77 Td (10,104) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 270.77 Td (8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 270.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 270.77 Td (8,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 270.77 Td (9.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 270.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 258.77 Td (California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.10 258.77 Td (9,417) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 258.77 Td (7.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 258.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 258.77 Td (3,655) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 258.77 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 258.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 246.77 Td (Minnesota) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.10 246.77 Td (6,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 246.77 Td (5.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 246.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 246.77 Td (4,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 246.77 Td (5.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 246.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 234.77 Td (Louisiana) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.10 234.77 Td (6,053) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 234.77 Td (4.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 234.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 234.77 Td (5,523) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 234.77 Td (5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 234.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 222.77 Td (Ohio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.10 222.77 Td (4,995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 222.77 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 222.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 222.77 Td (3,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 222.77 Td (3.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 222.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 210.77 Td (Texas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.10 210.77 Td (4,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 210.77 Td (3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 210.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 210.77 Td (7,507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 210.77 Td (8.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 210.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 198.77 Td (Virginia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.10 198.77 Td (3,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 198.77 Td (3.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 198.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 198.77 Td (2,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 198.77 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 198.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 186.77 Td (South Carolina) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.10 186.77 Td (3,758) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 186.77 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 186.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 186.77 Td (2,034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 186.77 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 186.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 174.77 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.10 174.77 Td (30,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.10 174.77 Td (25.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 174.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.10 174.77 Td (23,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.10 174.77 Td (25.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 174.77 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 162.88 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 162.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.10 162.77 Td (122,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.10 162.77 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 162.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 162.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.10 162.77 Td (93,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 162.77 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 162.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.65 Td (As ) Tj ET Q q 0 0 0 rg BT 63.70 143.65 Td (illustrated ) Tj ET Q q 0 0 0 rg BT 106.27 143.65 Td (by ) Tj ET Q q 0 0 0 rg BT 118.85 143.65 Td (the ) Tj ET Q q 0 0 0 rg BT 133.65 143.65 Td (table ) Tj ET Q q 0 0 0 rg BT 155.66 143.65 Td (above, ) Tj ET Q q 0 0 0 rg BT 184.62 143.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.21 143.65 Td (23.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.04 143.65 Td ( ) Tj ET Q q 0 0 0 rg BT 215.62 143.65 Td (of ) Tj ET Q q 0 0 0 rg BT 225.96 143.65 Td (Atlas) Tj ET Q q 0 0 0 rg BT 249.66 143.65 Td ( ) Tj ET Q q 0 0 0 rg BT 252.24 143.65 Td (gross ) Tj ET Q q 0 0 0 rg BT 275.93 143.65 Td ( ) Tj ET Q q 0 0 0 rg BT 278.52 143.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 317.20 143.65 Td (written ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.11 143.65 Td (year ) Tj ET Q q 0 0 0 rg BT 367.90 143.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 394.36 143.65 Td (December ) Tj ET Q q 0 0 0 rg BT 438.02 143.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 453.10 143.65 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.10 143.65 Td ( ) Tj ET Q q 0 0 0 rg BT 475.69 143.65 Td (came ) Tj ET Q q 0 0 0 rg BT 499.36 143.65 Td (from ) Tj ET Q q 0 0 0 rg BT 521.38 143.65 Td (New ) Tj ET Q q 0 0 0 rg BT 542.46 143.65 Td (Y) Tj ET Q q 0 0 0 rg BT 548.68 143.65 Td (ork ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.65 Td (and ) Tj ET Q q 0 0 0 rg BT 67.39 131.65 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.33 131.65 Td (55.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.16 131.65 Td ( ) Tj ET Q q 0 0 0 rg BT 99.11 131.65 Td (came ) Tj ET Q q 0 0 0 rg BT 123.15 131.65 Td (from ) Tj ET Q q 0 0 0 rg BT 145.53 131.65 Td (the ) Tj ET Q q 0 0 0 rg BT 160.70 131.65 Td (five ) Tj ET Q q 0 0 0 rg BT 179.19 131.65 Td (states ) Tj ET Q q 0 0 0 rg BT 204.36 131.65 Td (currently ) Tj ET Q q 0 0 0 rg BT 243.40 131.65 Td (producing ) Tj ET Q q 0 0 0 rg BT 286.89 131.65 Td (the ) Tj ET Q q 0 0 0 rg BT 302.05 131.65 Td (most ) Tj ET Q q 0 0 0 rg BT 324.45 131.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 363.50 131.65 Td (volume, ) Tj ET Q q 0 0 0 rg BT 398.94 131.65 Td (as ) Tj ET Q q 0 0 0 rg BT 410.22 131.65 Td (compared ) Tj ET Q q 0 0 0 rg BT 452.59 131.65 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.31 131.65 Td (57.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.14 131.65 Td ( ) Tj ET Q q 0 0 0 rg BT 492.09 131.65 Td (in ) Tj ET Q q 0 0 0 rg BT 502.81 131.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.98 131.65 Td (year ) Tj ET Q q 0 0 0 rg BT 538.13 131.65 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.65 Td (December ) Tj ET Q q 0 0 0 rg BT 94.35 119.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 110.12 119.65 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.12 119.65 Td (. ) Tj ET Q q 0 0 0 rg BT 135.88 119.65 Td (Our ) Tj ET Q q 0 0 0 rg BT 154.70 119.65 Td (commitment ) Tj ET Q q 0 0 0 rg BT 208.51 119.65 Td (to ) Tj ET Q q 0 0 0 rg BT 219.55 119.65 Td (expanding ) Tj ET Q q 0 0 0 rg BT 264.48 119.65 Td (geographically ) Tj ET Q q 0 0 0 rg BT 327.16 119.65 Td (resulted ) Tj ET Q q 0 0 0 rg BT 362.08 119.65 Td (in ) Tj ET Q q 0 0 0 rg BT 373.13 119.65 Td (23 ) Tj ET Q q 0 0 0 rg BT 386.39 119.65 Td (states ) Tj ET Q q 0 0 0 rg BT 411.87 119.65 Td (with ) Tj ET Q q 0 0 0 rg BT 432.92 119.65 Td (more ) Tj ET Q q 0 0 0 rg BT 456.73 119.65 Td (than ) Tj ET Q q 0 0 0 rg BT 477.21 119.65 Td ($1 ) Tj ET Q q 0 0 0 rg BT 490.48 119.65 Td (million ) Tj ET Q q 0 0 0 rg BT 522.63 119.65 Td (in ) Tj ET Q q 0 0 0 rg BT 533.68 119.65 Td (written ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 88.60 107.65 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.88 107.65 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.88 107.65 Td ( ) Tj ET Q q 0 0 0 rg BT 121.38 107.65 Td (compared ) Tj ET Q q 0 0 0 rg BT 163.31 107.65 Td (to ) Tj ET Q q 0 0 0 rg BT 173.58 107.65 Td (19 ) Tj ET Q q 0 0 0 rg BT 186.08 107.65 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.36 107.65 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.36 107.65 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 90.65 Td (Ceded ) Tj ET Q q 0 0 0 rg BT 79.72 90.65 Td (Pr) Tj ET Q q 0 0 0 rg BT 90.09 90.65 Td (emium ) Tj ET Q q 0 0 0 rg BT 121.85 90.65 Td (W) Tj ET Q q 0 0 0 rg BT 131.67 90.65 Td (ritten) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.65 Td (Ceded ) Tj ET Q q 0 0 0 rg BT 77.76 73.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 116.07 73.65 Td (written ) Tj ET Q q 0 0 0 rg BT 146.61 73.65 Td (is ) Tj ET Q q 0 0 0 rg BT 155.49 73.65 Td (equal ) Tj ET Q q 0 0 0 rg BT 179.36 73.65 Td (to ) Tj ET Q q 0 0 0 rg BT 189.35 73.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 227.67 73.65 Td (ceded ) Tj ET Q q 0 0 0 rg BT 253.19 73.65 Td (under ) Tj ET Q q 0 0 0 rg BT 278.17 73.65 Td (the ) Tj ET Q q 0 0 0 rg BT 292.60 73.65 Td (terms ) Tj ET Q q 0 0 0 rg BT 317.03 73.65 Td (of ) Tj ET Q q 0 0 0 rg BT 327.08 73.65 Td (Atlas) Tj ET Q q 0 0 0 rg BT 350.78 73.65 Td ( ) Tj ET Q q 0 0 0 rg BT 352.99 73.65 Td (inforce ) Tj ET Q q 0 0 0 rg BT 383.52 73.65 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 431.82 73.65 Td (treaties. ) Tj ET Q q 0 0 0 rg BT 465.40 73.65 Td ( ) Tj ET Q q 0 0 0 rg BT 467.61 73.65 Td (Ceded ) Tj ET Q q 0 0 0 rg BT 495.37 73.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 533.69 73.65 Td (written ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.65 Td (decreased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.15 61.65 Td (12.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.98 61.65 Td ( ) Tj ET Q q 0 0 0 rg BT 118.72 61.65 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.24 61.65 Td ($1) Tj ET Q q 0 0 0 rg BT 137.87 61.65 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 152.11 61.65 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.00 61.65 Td ( ) Tj ET Q q 0 0 0 rg BT 182.74 61.65 Td (for ) Tj ET Q q 0 0 0 rg BT 196.14 61.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.10 61.65 Td (year ) Tj ET Q q 0 0 0 rg BT 229.04 61.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 254.66 61.65 Td (December ) Tj ET Q q 0 0 0 rg BT 297.49 61.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 311.73 61.65 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.73 61.65 Td ( ) Tj ET Q q 0 0 0 rg BT 333.46 61.65 Td (compared ) Tj ET Q q 0 0 0 rg BT 374.63 61.65 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 61.65 Td ($12.6 ) Tj ET Q q 0 0 0 rg BT 418.39 61.65 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.28 61.65 Td ( ) Tj ET Q q 0 0 0 rg BT 449.02 61.65 Td (for ) Tj ET Q q 0 0 0 rg BT 462.42 61.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.37 61.65 Td (year ) Tj ET Q q 0 0 0 rg BT 495.32 61.65 Td (ended ) Tj ET Q q 0 0 0 rg BT 520.94 61.65 Td (December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 64.69 49.65 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.69 49.65 Td (. ) Tj ET Q q 0 0 0 rg BT 89.38 49.65 Td ( ) Tj ET Q q 0 0 0 rg BT 91.41 49.65 Td (The ) Tj ET Q q 0 0 0 rg BT 109.14 49.65 Td (primary ) Tj ET Q q 0 0 0 rg BT 142.99 49.65 Td (driver ) Tj ET Q q 0 0 0 rg BT 169.05 49.65 Td (of ) Tj ET Q q 0 0 0 rg BT 179.57 49.65 Td (the ) Tj ET Q q 0 0 0 rg BT 193.98 49.65 Td (decrease ) Tj ET Q q 0 0 0 rg BT 230.58 49.65 Td (in ) Tj ET Q q 0 0 0 rg BT 240.55 49.65 Td (ceded ) Tj ET Q q 0 0 0 rg BT 266.05 49.65 Td (premium ) Tj ET Q q 0 0 0 rg BT 304.35 49.65 Td (written ) Tj ET Q q 0 0 0 rg BT 334.86 49.65 Td (relates ) Tj ET Q q 0 0 0 rg BT 363.14 49.65 Td (to ) Tj ET Q q 0 0 0 rg BT 373.11 49.65 Td (the ) Tj ET Q q 0 0 0 rg BT 387.52 49.65 Td (run ) Tj ET Q q 0 0 0 rg BT 403.04 49.65 Td (of) Tj ET Q q 0 0 0 rg BT 411.19 49.65 Td (f ) Tj ET Q q 0 0 0 rg BT 416.70 49.65 Td (of ) Tj ET Q q 0 0 0 rg BT 427.22 49.65 Td (non-core ) Tj ET Q q 0 0 0 rg BT 464.95 49.65 Td (lines ) Tj ET Q q 0 0 0 rg BT 486.02 49.65 Td (of ) Tj ET Q q 0 0 0 rg BT 496.54 49.65 Td (business ) Tj ET Q q 0 0 0 rg BT 532.62 49.65 Td (that ) Tj ET Q q 0 0 0 rg BT 549.81 49.65 Td (are ) Tj ET Q endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (heavily ) Tj ET Q q 0 0 0 rg BT 82.13 742.10 Td (reinsured. ) Tj ET Q q 0 0 0 rg BT 124.33 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 142.57 742.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 188.56 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 199.58 742.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 238.38 742.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 264.39 742.10 Td (is ) Tj ET Q q 0 0 0 rg BT 273.75 742.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 301.99 742.10 Td (by ) Tj ET Q q 0 0 0 rg BT 314.68 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 329.59 742.10 Td (business ) Tj ET Q q 0 0 0 rg BT 366.17 742.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 384.42 742.10 Td (within ) Tj ET Q q 0 0 0 rg BT 412.67 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 428.69 742.10 Td (total ) Tj ET Q q 0 0 0 rg BT 449.15 742.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 487.95 742.10 Td (base. ) Tj ET Q q 0 0 0 rg BT 510.32 742.10 Td (As ) Tj ET Q q 0 0 0 rg BT 524.12 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 535.14 742.10 Td (July ) Tj ET Q q 0 0 0 rg BT 554.51 742.10 Td (1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 74.02 730.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 97.08 730.10 Td (implemented ) Tj ET Q q 0 0 0 rg BT 151.24 730.10 Td (a ) Tj ET Q q 0 0 0 rg BT 157.63 730.10 Td (quota ) Tj ET Q q 0 0 0 rg BT 181.79 730.10 Td (share ) Tj ET Q q 0 0 0 rg BT 204.84 730.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 252.88 730.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 296.47 730.10 Td (for ) Tj ET Q q 0 0 0 rg BT 310.08 730.10 Td (its ) Tj ET Q q 0 0 0 rg BT 321.48 730.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 370.63 730.10 Td (auto ) Tj ET Q q 0 0 0 rg BT 389.79 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 406.18 730.10 Td (general ) Tj ET Q q 0 0 0 rg BT 437.56 730.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 470.62 730.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 491.45 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.73 730.10 Td (business ) Tj ET Q q 0 0 0 rg BT 537.58 730.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 87.83 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 103.44 718.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 145.72 718.10 Td (with ) Tj ET Q q 0 0 0 rg BT 166.89 718.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 205.27 718.10 Td (flexibility ) Tj ET Q q 0 0 0 rg BT 248.10 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 259.27 718.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 293.76 718.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 332.69 718.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 364.41 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 382.24 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 397.85 718.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 427.36 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 439.08 718.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 477.47 718.10 Td (future ) Tj ET Q q 0 0 0 rg BT 504.74 718.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 534.78 718.10 Td (raising ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (activities. ) Tj ET Q q 0 0 0 rg BT 90.85 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 92.94 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 101.98 706.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 114.79 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 129.26 706.10 Td (exception ) Tj ET Q q 0 0 0 rg BT 170.38 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 180.96 706.10 Td (this ) Tj ET Q q 0 0 0 rg BT 197.66 706.10 Td (quota ) Tj ET Q q 0 0 0 rg BT 222.13 706.10 Td (share ) Tj ET Q q 0 0 0 rg BT 245.48 706.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 293.82 706.10 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 340.21 706.10 Td (all ) Tj ET Q q 0 0 0 rg BT 352.46 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 363.04 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 378.63 706.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 426.96 706.10 Td (partners ) Tj ET Q q 0 0 0 rg BT 461.42 706.10 Td (have ) Tj ET Q q 0 0 0 rg BT 482.55 706.10 Td (remained ) Tj ET Q q 0 0 0 rg BT 522.01 706.10 Td (consistent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (since ) Tj ET Q q 0 0 0 rg BT 73.05 694.10 Td (2013.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 677.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 67.49 677.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 77.86 677.10 Td (emium ) Tj ET Q q 0 0 0 rg BT 109.61 677.10 Td (W) Tj ET Q q 0 0 0 rg BT 119.43 677.10 Td (ritten) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 660.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.10 660.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 103.87 660.10 Td (written ) Tj ET Q q 0 0 0 rg BT 133.86 660.10 Td (is ) Tj ET Q q 0 0 0 rg BT 142.19 660.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 165.51 660.10 Td (to ) Tj ET Q q 0 0 0 rg BT 174.96 660.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 197.73 660.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 235.50 660.10 Td (written ) Tj ET Q q 0 0 0 rg BT 265.49 660.10 Td (less ) Tj ET Q q 0 0 0 rg BT 282.15 660.10 Td (the ) Tj ET Q q 0 0 0 rg BT 296.03 660.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 321.01 660.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 358.78 660.10 Td (written ) Tj ET Q q 0 0 0 rg BT 388.77 660.10 Td (under ) Tj ET Q q 0 0 0 rg BT 413.20 660.10 Td (the ) Tj ET Q q 0 0 0 rg BT 427.08 660.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 450.96 660.10 Td (of ) Tj ET Q q 0 0 0 rg BT 460.59 660.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 484.29 660.10 Td ( ) Tj ET Q q 0 0 0 rg BT 485.95 660.10 Td (inforce ) Tj ET Q q 0 0 0 rg BT 515.93 660.10 Td (reinsurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 648.10 Td (treaties. ) Tj ET Q q 0 0 0 rg BT 84.35 648.10 Td ( ) Tj ET Q q 0 0 0 rg BT 87.32 648.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 104.73 648.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 143.81 648.10 Td (written ) Tj ET Q q 0 0 0 rg BT 175.11 648.10 Td (increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.83 648.10 Td (38.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.67 648.10 Td ( ) Tj ET Q q 0 0 0 rg BT 244.64 648.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.39 648.10 Td ($1) Tj ET Q q 0 0 0 rg BT 265.02 648.10 Td (1) Tj ET Q q 0 0 0 rg BT 269.65 648.10 Td (1.4 ) Tj ET Q q 0 0 0 rg BT 285.12 648.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.01 648.10 Td ( ) Tj ET Q q 0 0 0 rg BT 316.99 648.10 Td (for ) Tj ET Q q 0 0 0 rg BT 331.62 648.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.81 648.10 Td (year ) Tj ET Q q 0 0 0 rg BT 366.99 648.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 393.84 648.10 Td (December ) Tj ET Q q 0 0 0 rg BT 437.90 648.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 453.37 648.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.37 648.10 Td ( ) Tj ET Q q 0 0 0 rg BT 476.35 648.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 518.75 648.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.50 648.10 Td ($80.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 636.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 636.10 Td ( ) Tj ET Q q 0 0 0 rg BT 82.03 636.10 Td (for ) Tj ET Q q 0 0 0 rg BT 96.83 636.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.19 636.10 Td (year ) Tj ET Q q 0 0 0 rg BT 132.53 636.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 159.55 636.10 Td (December ) Tj ET Q q 0 0 0 rg BT 203.77 636.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 219.41 636.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.41 636.10 Td (. ) Tj ET Q q 0 0 0 rg BT 244.83 636.10 Td (These ) Tj ET Q q 0 0 0 rg BT 271.84 636.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 307.19 636.10 Td (are ) Tj ET Q q 0 0 0 rg BT 322.54 636.10 Td (attributed ) Tj ET Q q 0 0 0 rg BT 364.00 636.10 Td (to ) Tj ET Q q 0 0 0 rg BT 374.91 636.10 Td (the ) Tj ET Q q 0 0 0 rg BT 390.27 636.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 432.84 636.10 Td (ef) Tj ET Q q 0 0 0 rg BT 440.43 636.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 462.45 636.10 Td (of ) Tj ET Q q 0 0 0 rg BT 473.92 636.10 Td (the ) Tj ET Q q 0 0 0 rg BT 489.27 636.10 Td (issues ) Tj ET Q q 0 0 0 rg BT 516.31 636.10 Td (cited ) Tj ET Q q 0 0 0 rg BT 538.88 636.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.80 636.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 624.10 Td (Gross ) Tj ET Q q 0 0 0 rg BT 79.17 624.10 Td (Premium ) Tj ET Q q 0 0 0 rg BT 118.15 624.10 Td (W) Tj ET Q q 0 0 0 rg BT 127.19 624.10 Td (ritten) Tj ET Q q 0 0 0 rg BT 150.88 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 153.38 624.10 Td (and ) Tj ET Q q 0 0 0 rg BT 170.32 624.10 Td (Ceded ) Tj ET Q q 0 0 0 rg BT 201.69 624.10 Td (Premium ) Tj ET Q q 0 0 0 rg BT 240.68 624.10 Td (W) Tj ET Q q 0 0 0 rg BT 249.72 624.10 Td (ritten) Tj ET Q q 0 0 0 rg BT 273.41 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 275.91 624.10 Td (sections ) Tj ET Q q 0 0 0 rg BT 310.63 624.10 Td (above.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 607.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 67.49 607.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 77.86 607.10 Td (emium ) Tj ET Q q 0 0 0 rg BT 109.79 607.10 Td (Earned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 590.10 Td (Premiums ) Tj ET Q q 0 0 0 rg BT 93.59 590.10 Td (are ) Tj ET Q q 0 0 0 rg BT 108.82 590.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 138.50 590.10 Td (ratably ) Tj ET Q q 0 0 0 rg BT 169.29 590.10 Td (over ) Tj ET Q q 0 0 0 rg BT 190.09 590.10 Td (the ) Tj ET Q q 0 0 0 rg BT 205.34 590.10 Td (term ) Tj ET Q q 0 0 0 rg BT 226.69 590.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.05 590.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.30 590.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 299.65 590.10 Td (policy) Tj ET Q q 0 0 0 rg BT 324.00 590.10 Td (. ) Tj ET Q q 0 0 0 rg BT 329.53 590.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 347.00 590.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 386.13 590.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 415.81 590.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.39 590.10 Td ($98.1 ) Tj ET Q q 0 0 0 rg BT 459.92 590.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.81 590.10 Td ( ) Tj ET Q q 0 0 0 rg BT 491.84 590.10 Td (in ) Tj ET Q q 0 0 0 rg BT 502.65 590.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.89 590.10 Td (year ) Tj ET Q q 0 0 0 rg BT 538.13 590.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 578.10 Td (December ) Tj ET Q q 0 0 0 rg BT 94.04 578.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 109.49 578.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.49 578.10 Td (, ) Tj ET Q q 0 0 0 rg BT 134.94 578.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.33 578.10 Td (37.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.17 578.10 Td ( ) Tj ET Q q 0 0 0 rg BT 171.12 578.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 206.83 578.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 249.20 578.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.93 578.10 Td ($71.3 ) Tj ET Q q 0 0 0 rg BT 295.39 578.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.28 578.10 Td ( ) Tj ET Q q 0 0 0 rg BT 327.23 578.10 Td (in ) Tj ET Q q 0 0 0 rg BT 337.96 578.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.13 578.10 Td (year ) Tj ET Q q 0 0 0 rg BT 373.29 578.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 400.12 578.10 Td (December ) Tj ET Q q 0 0 0 rg BT 444.16 578.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 459.61 578.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.61 578.10 Td (. ) Tj ET Q q 0 0 0 rg BT 484.85 578.10 Td (The ) Tj ET Q q 0 0 0 rg BT 503.35 578.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 539.06 578.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.79 578.10 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 566.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 92.50 566.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 121.65 566.10 Td (is ) Tj ET Q q 0 0 0 rg BT 130.82 566.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 178.86 566.10 Td (to ) Tj ET Q q 0 0 0 rg BT 189.14 566.10 Td (the ) Tj ET Q q 0 0 0 rg BT 203.86 566.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 245.79 566.10 Td (ef) Tj ET Q q 0 0 0 rg BT 253.38 566.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 274.76 566.10 Td (of ) Tj ET Q q 0 0 0 rg BT 285.59 566.10 Td (the ) Tj ET Q q 0 0 0 rg BT 300.31 566.10 Td (issues ) Tj ET Q q 0 0 0 rg BT 326.71 566.10 Td (cited ) Tj ET Q q 0 0 0 rg BT 348.64 566.10 Td (in ) Tj ET Q q 0 0 0 rg BT 358.92 566.10 Td (the ) Tj ET Q q 0 0 0 rg BT 373.64 566.10 Td (Gross ) Tj ET Q q 0 0 0 rg BT 402.81 566.10 Td (Premium ) Tj ET Q q 0 0 0 rg BT 441.80 566.10 Td (W) Tj ET Q q 0 0 0 rg BT 450.83 566.10 Td (ritten) Tj ET Q q 0 0 0 rg BT 474.53 566.10 Td ( ) Tj ET Q q 0 0 0 rg BT 477.03 566.10 Td (and ) Tj ET Q q 0 0 0 rg BT 493.97 566.10 Td (Ceded ) Tj ET Q q 0 0 0 rg BT 525.35 566.10 Td (Premium ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 554.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.04 554.10 Td (ritten) Tj ET Q q 0 0 0 rg BT 82.73 554.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.23 554.10 Td (sections ) Tj ET Q q 0 0 0 rg BT 119.95 554.10 Td (above.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 537.10 Td (Claims ) Tj ET Q q 0 0 0 rg BT 82.50 537.10 Td (Incurr) Tj ET Q q 0 0 0 rg BT 110.65 537.10 Td (ed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.56 520.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 87.14 520.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 108.48 520.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 142.04 520.10 Td (to ) Tj ET Q q 0 0 0 rg BT 152.83 520.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.06 520.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 197.18 520.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 233.51 520.10 Td (in ) Tj ET Q q 0 0 0 rg BT 244.30 520.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.54 520.10 Td (year ) Tj ET Q q 0 0 0 rg BT 279.76 520.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 306.65 520.10 Td (December ) Tj ET Q q 0 0 0 rg BT 350.75 520.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 366.26 520.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.26 520.10 Td ( ) Tj ET Q q 0 0 0 rg BT 389.28 520.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.85 520.10 Td (62.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.68 520.10 Td ( ) Tj ET Q q 0 0 0 rg BT 436.69 520.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 479.13 520.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.92 520.10 Td (63.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.75 520.10 Td ( ) Tj ET Q q 0 0 0 rg BT 518.77 520.10 Td (in ) Tj ET Q q 0 0 0 rg BT 529.56 520.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.79 520.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 76.35 508.10 Td (December ) Tj ET Q q 0 0 0 rg BT 119.90 508.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 134.87 508.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.87 508.10 Td (. ) Tj ET Q q 0 0 0 rg BT 159.84 508.10 Td ( ) Tj ET Q q 0 0 0 rg BT 162.31 508.10 Td (Loss ) Tj ET Q q 0 0 0 rg BT 183.68 508.10 Td (ratios ) Tj ET Q q 0 0 0 rg BT 208.36 508.10 Td (improved ) Tj ET Q q 0 0 0 rg BT 249.16 508.10 Td (in ) Tj ET Q q 0 0 0 rg BT 259.41 508.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.10 508.10 Td (year ) Tj ET Q q 0 0 0 rg BT 293.77 508.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 320.12 508.10 Td (December ) Tj ET Q q 0 0 0 rg BT 363.68 508.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 378.65 508.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 508.10 Td ( ) Tj ET Q q 0 0 0 rg BT 401.12 508.10 Td (relative ) Tj ET Q q 0 0 0 rg BT 433.57 508.10 Td (to ) Tj ET Q q 0 0 0 rg BT 443.82 508.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 465.73 508.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 497.64 508.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 537.32 508.10 Td (due ) Tj ET Q q 0 0 0 rg BT 554.23 508.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.94 496.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 103.43 496.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 148.45 496.10 Td (of ) Tj ET Q q 0 0 0 rg BT 158.51 496.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 207.44 496.10 Td (auto, ) Tj ET Q q 0 0 0 rg BT 228.88 496.10 Td (which ) Tj ET Q q 0 0 0 rg BT 255.05 496.10 Td (has ) Tj ET Q q 0 0 0 rg BT 270.10 496.10 Td (historically ) Tj ET Q q 0 0 0 rg BT 316.82 496.10 Td (had ) Tj ET Q q 0 0 0 rg BT 332.99 496.10 Td (a ) Tj ET Q q 0 0 0 rg BT 339.15 496.10 Td (better ) Tj ET Q q 0 0 0 rg BT 363.65 496.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 393.14 496.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 446.52 496.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 472.96 496.10 Td (relative ) Tj ET Q q 0 0 0 rg BT 504.67 496.10 Td (to ) Tj ET Q q 0 0 0 rg BT 514.18 496.10 Td (total ) Tj ET Q q 0 0 0 rg BT 533.68 496.10 Td (written ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (premium. ) Tj ET Q q 0 0 0 rg BT 90.88 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 93.15 484.10 Td (In ) Tj ET Q q 0 0 0 rg BT 103.75 484.10 Td (both ) Tj ET Q q 0 0 0 rg BT 123.80 484.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 149.68 484.10 Td (the ) Tj ET Q q 0 0 0 rg BT 164.17 484.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 192.54 484.10 Td (taxi ) Tj ET Q q 0 0 0 rg BT 209.80 484.10 Td (program ) Tj ET Q q 0 0 0 rg BT 245.95 484.10 Td (contributed ) Tj ET Q q 0 0 0 rg BT 293.77 484.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 346.03 484.10 Td (to ) Tj ET Q q 0 0 0 rg BT 356.08 484.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 396.11 484.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 413.95 484.10 Td (results ) Tj ET Q q 0 0 0 rg BT 442.33 484.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.38 484.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.87 484.10 Td (year ) Tj ET Q q 0 0 0 rg BT 486.35 484.10 Td (as ) Tj ET Q q 0 0 0 rg BT 496.95 484.10 Td (we ) Tj ET Q q 0 0 0 rg BT 510.88 484.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 539.25 484.10 Td (better ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (than ) Tj ET Q q 0 0 0 rg BT 71.48 472.10 Td (average ) Tj ET Q q 0 0 0 rg BT 106.83 472.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 133.31 472.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 180.87 472.10 Td (from ) Tj ET Q q 0 0 0 rg BT 204.57 472.10 Td (this ) Tj ET Q q 0 0 0 rg BT 223.29 472.10 Td (program. ) Tj ET Q q 0 0 0 rg BT 263.62 472.10 Td (W) Tj ET Q q 0 0 0 rg BT 272.26 472.10 Td (e ) Tj ET Q q 0 0 0 rg BT 280.96 472.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 314.09 472.10 Td (that ) Tj ET Q q 0 0 0 rg BT 333.35 472.10 Td (our ) Tj ET Q q 0 0 0 rg BT 350.95 472.10 Td (extensive ) Tj ET Q q 0 0 0 rg BT 392.98 472.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 440.54 472.10 Td (and ) Tj ET Q q 0 0 0 rg BT 459.24 472.10 Td (expertise ) Tj ET Q q 0 0 0 rg BT 499.60 472.10 Td (with ) Tj ET Q q 0 0 0 rg BT 521.64 472.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 554.22 472.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 104.11 460.10 Td (and ) Tj ET Q q 0 0 0 rg BT 121.00 460.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 149.56 460.10 Td (management ) Tj ET Q q 0 0 0 rg BT 203.10 460.10 Td (in ) Tj ET Q q 0 0 0 rg BT 213.33 460.10 Td (all ) Tj ET Q q 0 0 0 rg BT 225.78 460.10 Td (our ) Tj ET Q q 0 0 0 rg BT 241.56 460.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 291.21 460.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 312.55 460.10 Td (will ) Tj ET Q q 0 0 0 rg BT 330.56 460.10 Td (allow ) Tj ET Q q 0 0 0 rg BT 355.23 460.10 Td (us ) Tj ET Q q 0 0 0 rg BT 366.57 460.10 Td (to ) Tj ET Q q 0 0 0 rg BT 376.80 460.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 413.69 460.10 Td (this ) Tj ET Q q 0 0 0 rg BT 430.59 460.10 Td (decreasing ) Tj ET Q q 0 0 0 rg BT 475.79 460.10 Td (trend ) Tj ET Q q 0 0 0 rg BT 498.79 460.10 Td (since ) Tj ET Q q 0 0 0 rg BT 521.79 460.10 Td (we ) Tj ET Q q 0 0 0 rg BT 535.91 460.10 Td (expect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 76.26 448.10 Td (of ) Tj ET Q q 0 0 0 rg BT 87.52 448.10 Td (net ) Tj ET Q q 0 0 0 rg BT 102.66 448.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 141.70 448.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 171.27 448.10 Td (to ) Tj ET Q q 0 0 0 rg BT 181.98 448.10 Td (be ) Tj ET Q q 0 0 0 rg BT 194.34 448.10 Td (related ) Tj ET Q q 0 0 0 rg BT 224.47 448.10 Td (to ) Tj ET Q q 0 0 0 rg BT 235.18 448.10 Td (core ) Tj ET Q q 0 0 0 rg BT 255.32 448.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 277.13 448.10 Td (of ) Tj ET Q q 0 0 0 rg BT 288.39 448.10 Td (business ) Tj ET Q q 0 0 0 rg BT 325.21 448.10 Td (moving ) Tj ET Q q 0 0 0 rg BT 358.70 448.10 Td (forward. ) Tj ET Q q 0 0 0 rg BT 395.56 448.10 Td (The ) Tj ET Q q 0 0 0 rg BT 414.04 448.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 455.86 448.10 Td (is ) Tj ET Q q 0 0 0 rg BT 465.45 448.10 Td (committed ) Tj ET Q q 0 0 0 rg BT 511.15 448.10 Td (to ) Tj ET Q q 0 0 0 rg BT 521.86 448.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 547.55 448.10 Td (this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 74.71 436.10 Td (handling ) Tj ET Q q 0 0 0 rg BT 112.21 436.10 Td (expertise ) Tj ET Q q 0 0 0 rg BT 150.80 436.10 Td (as ) Tj ET Q q 0 0 0 rg BT 161.63 436.10 Td (a ) Tj ET Q q 0 0 0 rg BT 168.57 436.10 Td (core ) Tj ET Q q 0 0 0 rg BT 188.28 436.10 Td (competency ) Tj ET Q q 0 0 0 rg BT 239.09 436.10 Td (as ) Tj ET Q q 0 0 0 rg BT 249.92 436.10 Td (the ) Tj ET Q q 0 0 0 rg BT 264.63 436.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 297.13 436.10 Td (of ) Tj ET Q q 0 0 0 rg BT 307.96 436.10 Td (business ) Tj ET Q q 0 0 0 rg BT 344.35 436.10 Td (increases.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 419.10 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 101.40 419.10 Td (Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.10 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 99.10 402.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 121.53 402.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 160.60 402.10 Td (commissions ) Tj ET Q q 0 0 0 rg BT 215.26 402.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.13 402.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 255.11 402.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 290.85 402.10 Td (on ) Tj ET Q q 0 0 0 rg BT 303.28 402.10 Td (net ) Tj ET Q q 0 0 0 rg BT 317.93 402.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 356.46 402.10 Td (earned. ) Tj ET Q q 0 0 0 rg BT 388.04 402.10 Td ( ) Tj ET Q q 0 0 0 rg BT 389.94 402.10 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 439.03 402.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 461.46 402.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.32 402.10 Td ($14.0 ) Tj ET Q q 0 0 0 rg BT 508.25 402.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.14 402.10 Td ( ) Tj ET Q q 0 0 0 rg BT 539.57 402.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.78 402.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.10 Td (year ) Tj ET Q q 0 0 0 rg BT 70.01 390.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 96.69 390.10 Td (December ) Tj ET Q q 0 0 0 rg BT 140.58 390.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 155.88 390.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.88 390.10 Td ( ) Tj ET Q q 0 0 0 rg BT 178.68 390.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.81 390.10 Td (14.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.64 390.10 Td ( ) Tj ET Q q 0 0 0 rg BT 218.45 390.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.58 390.10 Td (net ) Tj ET Q q 0 0 0 rg BT 244.60 390.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 283.51 390.10 Td (earned, ) Tj ET Q q 0 0 0 rg BT 315.45 390.10 Td (as ) Tj ET Q q 0 0 0 rg BT 326.59 390.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 368.81 390.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.39 390.10 Td (14.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.22 390.10 Td ( ) Tj ET Q q 0 0 0 rg BT 408.03 390.10 Td (in ) Tj ET Q q 0 0 0 rg BT 418.61 390.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.63 390.10 Td (year ) Tj ET Q q 0 0 0 rg BT 453.64 390.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 480.32 390.10 Td (December ) Tj ET Q q 0 0 0 rg BT 524.20 390.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 539.51 390.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.51 390.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 378.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.58 378.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 94.17 378.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 140.55 378.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 159.16 378.10 Td (ratios ) Tj ET Q q 0 0 0 rg BT 183.88 378.10 Td (to ) Tj ET Q q 0 0 0 rg BT 194.16 378.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 224.42 378.10 Td (relatively ) Tj ET Q q 0 0 0 rg BT 264.68 378.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 307.17 378.10 Td (with ) Tj ET Q q 0 0 0 rg BT 327.45 378.10 Td (the ) Tj ET Q q 0 0 0 rg BT 342.17 378.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 364.67 378.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 385.49 378.10 Td (going ) Tj ET Q q 0 0 0 rg BT 410.77 378.10 Td (forward.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (Other) Tj ET Q q 0 0 0 rg BT 75.37 361.10 Td ( ) Tj ET Q q 0 0 0 rg BT 77.87 361.10 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 138.70 361.10 Td (Expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 344.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.73 344.10 Td (other ) Tj ET Q q 0 0 0 rg BT 92.45 344.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 147.29 344.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 182.67 344.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 204.17 344.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.91 344.10 Td (14.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.74 344.10 Td ( ) Tj ET Q q 0 0 0 rg BT 251.91 344.10 Td (in ) Tj ET Q q 0 0 0 rg BT 262.87 344.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.27 344.10 Td (year ) Tj ET Q q 0 0 0 rg BT 298.65 344.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 325.71 344.10 Td (December ) Tj ET Q q 0 0 0 rg BT 369.97 344.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 385.65 344.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.65 344.10 Td ( ) Tj ET Q q 0 0 0 rg BT 408.83 344.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 451.43 344.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.39 344.10 Td (16.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.22 344.10 Td ( ) Tj ET Q q 0 0 0 rg BT 491.40 344.10 Td (in ) Tj ET Q q 0 0 0 rg BT 502.35 344.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.75 344.10 Td (year ) Tj ET Q q 0 0 0 rg BT 538.13 344.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 332.10 Td (December ) Tj ET Q q 0 0 0 rg BT 93.96 332.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 109.34 332.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.34 332.10 Td (. ) Tj ET Q q 0 0 0 rg BT 134.50 332.10 Td (W) Tj ET Q q 0 0 0 rg BT 143.14 332.10 Td (e ) Tj ET Q q 0 0 0 rg BT 150.46 332.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 179.43 332.10 Td (our ) Tj ET Q q 0 0 0 rg BT 195.63 332.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 250.16 332.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 285.25 332.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 306.45 332.10 Td (to ) Tj ET Q q 0 0 0 rg BT 317.10 332.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 354.41 332.10 Td (trending ) Tj ET Q q 0 0 0 rg BT 390.61 332.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 416.26 332.10 Td (as ) Tj ET Q q 0 0 0 rg BT 427.46 332.10 Td (a ) Tj ET Q q 0 0 0 rg BT 434.78 332.10 Td (result ) Tj ET Q q 0 0 0 rg BT 459.87 332.10 Td (of ) Tj ET Q q 0 0 0 rg BT 471.08 332.10 Td (the ) Tj ET Q q 0 0 0 rg BT 486.17 332.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 517.38 332.10 Td (of ) Tj ET Q q 0 0 0 rg BT 528.58 332.10 Td (our ) Tj ET Q q 0 0 0 rg BT 544.79 332.10 Td (core ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 320.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 70.42 320.10 Td (and ) Tj ET Q q 0 0 0 rg BT 86.38 320.10 Td (our ) Tj ET Q q 0 0 0 rg BT 101.24 320.10 Td (increasing ) Tj ET Q q 0 0 0 rg BT 143.86 320.10 Td (operational ) Tj ET Q q 0 0 0 rg BT 190.37 320.10 Td (scale. ) Tj ET Q q 0 0 0 rg BT 214.05 320.10 Td (Approximately ) Tj ET Q q 0 0 0 rg BT 276.12 320.10 Td (1.0% ) Tj ET Q q 0 0 0 rg BT 298.48 320.10 Td (of ) Tj ET Q q 0 0 0 rg BT 308.33 320.10 Td (the ) Tj ET Q q 0 0 0 rg BT 322.08 320.10 Td (full ) Tj ET Q q 0 0 0 rg BT 337.49 320.10 Td (year ) Tj ET Q q 0 0 0 rg BT 356.23 320.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 377.76 320.10 Td (other ) Tj ET Q q 0 0 0 rg BT 399.83 320.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 453.02 320.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 486.75 320.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 506.61 320.10 Td (was ) Tj ET Q q 0 0 0 rg BT 523.69 320.10 Td (attributed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 308.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 98.32 308.10 Td (integration ) Tj ET Q q 0 0 0 rg BT 144.14 308.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 169.14 308.10 Td ( ) Tj ET Q q 0 0 0 rg BT 171.46 308.10 Td (There ) Tj ET Q q 0 0 0 rg BT 197.27 308.10 Td (were ) Tj ET Q q 0 0 0 rg BT 219.20 308.10 Td (no ) Tj ET Q q 0 0 0 rg BT 231.70 308.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 269.74 308.10 Td (related ) Tj ET Q q 0 0 0 rg BT 299.44 308.10 Td (integration ) Tj ET Q q 0 0 0 rg BT 345.26 308.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 367.76 308.10 Td (in ) Tj ET Q q 0 0 0 rg BT 378.04 308.10 Td (2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 291.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.88 291.10 Td (other ) Tj ET Q q 0 0 0 rg BT 90.76 291.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 144.74 291.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 179.28 291.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 199.94 291.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.05 291.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.05 291.10 Td ( ) Tj ET Q q 0 0 0 rg BT 232.38 291.10 Td (excludes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.70 291.10 Td ($694,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.20 291.10 Td ( ) Tj ET Q q 0 0 0 rg BT 309.53 291.10 Td (in ) Tj ET Q q 0 0 0 rg BT 319.64 291.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 365.84 291.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 388.17 291.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 423.82 291.10 Td (in ) Tj ET Q q 0 0 0 rg BT 433.93 291.10 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 483.47 291.10 Td (with ) Tj ET Q q 0 0 0 rg BT 503.58 291.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.13 291.10 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 279.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.09 279.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 91.06 279.10 Td (Liberty) Tj ET Q q 0 0 0 rg BT 119.85 279.10 Td (. ) Tj ET Q q 0 0 0 rg BT 124.90 279.10 Td (The ) Tj ET Q q 0 0 0 rg BT 143.21 279.10 Td (other ) Tj ET Q q 0 0 0 rg BT 166.51 279.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 220.93 279.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 255.89 279.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 276.98 279.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.51 279.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.51 279.10 Td ( ) Tj ET Q q 0 0 0 rg BT 310.27 279.10 Td (excludes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.01 279.10 Td ($406,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.51 279.10 Td ( ) Tj ET Q q 0 0 0 rg BT 388.27 279.10 Td (in ) Tj ET Q q 0 0 0 rg BT 398.81 279.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 445.44 279.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 468.19 279.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 504.27 279.10 Td (in ) Tj ET Q q 0 0 0 rg BT 514.80 279.10 Td (conjunction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 267.10 Td (with ) Tj ET Q q 0 0 0 rg BT 70.28 267.10 Td (the ) Tj ET Q q 0 0 0 rg BT 85.00 267.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 131.38 267.10 Td (of ) Tj ET Q q 0 0 0 rg BT 142.21 267.10 Td (Gateway) Tj ET Q q 0 0 0 rg BT 177.09 267.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 248.30 Td (Net ) Tj ET Q q 0 0 0 rg BT 67.49 248.30 Td (Investment ) Tj ET Q q 0 0 0 rg BT 117.76 248.30 Td (Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 231.30 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.71 231.30 Td (investment ) Tj ET Q q 0 0 0 rg BT 112.86 231.30 Td (income ) Tj ET Q q 0 0 0 rg BT 144.56 231.30 Td (consists ) Tj ET Q q 0 0 0 rg BT 178.50 231.30 Td (of ) Tj ET Q q 0 0 0 rg BT 189.09 231.30 Td (the ) Tj ET Q q 0 0 0 rg BT 203.58 231.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 235.28 231.30 Td (income ) Tj ET Q q 0 0 0 rg BT 266.98 231.30 Td (and ) Tj ET Q q 0 0 0 rg BT 283.69 231.30 Td (net ) Tj ET Q q 0 0 0 rg BT 298.17 231.30 Td (realized ) Tj ET Q q 0 0 0 rg BT 332.08 231.30 Td (gains ) Tj ET Q q 0 0 0 rg BT 355.46 231.30 Td (or ) Tj ET Q q 0 0 0 rg BT 366.06 231.30 Td (losses ) Tj ET Q q 0 0 0 rg BT 392.22 231.30 Td (that ) Tj ET Q q 0 0 0 rg BT 409.48 231.30 Td (are ) Tj ET Q q 0 0 0 rg BT 423.96 231.30 Td (created ) Tj ET Q q 0 0 0 rg BT 455.09 231.30 Td (by ) Tj ET Q q 0 0 0 rg BT 467.35 231.30 Td (the ) Tj ET Q q 0 0 0 rg BT 481.84 231.30 Td (Company's ) Tj ET Q q 0 0 0 rg BT 528.69 231.30 Td (invested ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.30 Td (assets ) Tj ET Q q 0 0 0 rg BT 75.57 219.30 Td (net ) Tj ET Q q 0 0 0 rg BT 90.03 219.30 Td (of ) Tj ET Q q 0 0 0 rg BT 100.60 219.30 Td ( ) Tj ET Q q 0 0 0 rg BT 102.84 219.30 Td (expenses ) Tj ET Q q 0 0 0 rg BT 141.18 219.30 Td (associated ) Tj ET Q q 0 0 0 rg BT 184.51 219.30 Td (with ) Tj ET Q q 0 0 0 rg BT 204.53 219.30 Td (managing ) Tj ET Q q 0 0 0 rg BT 246.20 219.30 Td (the ) Tj ET Q q 0 0 0 rg BT 260.66 219.30 Td (portfolio. ) Tj ET Q q 0 0 0 rg BT 300.40 219.30 Td ( ) Tj ET Q q 0 0 0 rg BT 302.47 219.30 Td (The ) Tj ET Q q 0 0 0 rg BT 320.26 219.30 Td (table ) Tj ET Q q 0 0 0 rg BT 341.93 219.30 Td (below ) Tj ET Q q 0 0 0 rg BT 368.61 219.30 Td (compares ) Tj ET Q q 0 0 0 rg BT 409.17 219.30 Td (the ) Tj ET Q q 0 0 0 rg BT 423.63 219.30 Td (net ) Tj ET Q q 0 0 0 rg BT 438.08 219.30 Td (investment ) Tj ET Q q 0 0 0 rg BT 484.21 219.30 Td (results ) Tj ET Q q 0 0 0 rg BT 512.55 219.30 Td (for ) Tj ET Q q 0 0 0 rg BT 526.45 219.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.91 219.30 Td (years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 76.38 207.30 Td (December ) Tj ET Q q 0 0 0 rg BT 119.96 207.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 134.96 207.30 Td (2014 ) Tj ET Q q 0 0 0 rg BT 157.46 207.30 Td (and ) Tj ET Q q 0 0 0 rg BT 174.40 207.30 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.40 207.30 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 182.55 Td (Investment ) Tj ET Q q 0 0 0 rg BT 100.27 182.55 Td (Results ) Tj ET Q q 0 0 0 rg BT 133.89 182.55 Td (\($ ) Tj ET Q q 0 0 0 rg BT 144.72 182.55 Td (in ) Tj ET Q q 0 0 0 rg BT 155.56 182.55 Td ('000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 176.80 364.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 176.80 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 176.80 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 176.80 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 149.80 364.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 149.80 72.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 149.80 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 149.80 72.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 127.80 364.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 127.80 72.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 127.80 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 127.80 72.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 105.80 364.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 105.80 72.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 105.80 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 105.80 72.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 176.79999999999995 m 486.5 176.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 162.79999999999995 m 486.5 162.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 176.79999999999995 m 490.5 176.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 162.79999999999995 m 490.5 162.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 176.79999999999995 m 562.5 176.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 162.79999999999995 m 562.5 162.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 162.79999999999995 m 486.5 162.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 162.79999999999995 m 562.5 162.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 94.79999999999995 m 486.5 94.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 94.79999999999995 m 490.5 94.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 94.79999999999995 m 562.5 94.79999999999995 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 167.48 Td (Year Ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.00 167.48 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.00 167.48 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 153.37 Td (Average securities at cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.00 153.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 153.37 Td (160,964) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 153.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.15 153.37 Td (130,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 140.42 Td (Net investment income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 140.42 Td (3,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 140.42 Td (2,141) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 53.00 129.76 Td (Percent earned on average investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 129.42 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 129.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 129.42 Td (1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 129.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 118.42 Td (Net realized gains) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 118.42 Td (382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 118.42 Td (529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 107.42 Td (Total investment income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 107.42 Td (3,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 107.42 Td (2,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 96.42 Td (Total realized yield) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 96.42 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 96.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 96.42 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 96.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.30 Td (Investment ) Tj ET Q q 0 0 0 rg BT 96.42 78.30 Td (income ) Tj ET Q q 0 0 0 rg BT 127.84 78.30 Td (\(excluding ) Tj ET Q q 0 0 0 rg BT 172.59 78.30 Td (net ) Tj ET Q q 0 0 0 rg BT 186.79 78.30 Td (realized ) Tj ET Q q 0 0 0 rg BT 220.41 78.30 Td (gains\) ) Tj ET Q q 0 0 0 rg BT 246.84 78.30 Td (net ) Tj ET Q q 0 0 0 rg BT 261.04 78.30 Td (of ) Tj ET Q q 0 0 0 rg BT 271.35 78.30 Td (investment ) Tj ET Q q 0 0 0 rg BT 317.22 78.30 Td (expenses ) Tj ET Q q 0 0 0 rg BT 355.30 78.30 Td (increased ) Tj ET Q q 0 0 0 rg BT 395.04 78.30 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.03 78.30 Td (45.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.86 78.30 Td ( ) Tj ET Q q 0 0 0 rg BT 434.84 78.30 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.60 78.30 Td ($3.1 ) Tj ET Q q 0 0 0 rg BT 464.09 78.30 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.98 78.30 Td ( ) Tj ET Q q 0 0 0 rg BT 494.97 78.30 Td (in ) Tj ET Q q 0 0 0 rg BT 504.73 78.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.93 78.30 Td (year ) Tj ET Q q 0 0 0 rg BT 538.12 78.30 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.30 Td (December ) Tj ET Q q 0 0 0 rg BT 93.62 66.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 108.66 66.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.66 66.30 Td (, ) Tj ET Q q 0 0 0 rg BT 133.69 66.30 Td (compared ) Tj ET Q q 0 0 0 rg BT 175.65 66.30 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.96 66.30 Td ($2.1 ) Tj ET Q q 0 0 0 rg BT 206.00 66.30 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.89 66.30 Td ( ) Tj ET Q q 0 0 0 rg BT 237.43 66.30 Td (in ) Tj ET Q q 0 0 0 rg BT 247.74 66.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.49 66.30 Td (year ) Tj ET Q q 0 0 0 rg BT 282.24 66.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 308.65 66.30 Td (December ) Tj ET Q q 0 0 0 rg BT 352.27 66.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 367.30 66.30 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.30 66.30 Td (. ) Tj ET Q q 0 0 0 rg BT 392.16 66.30 Td (These ) Tj ET Q q 0 0 0 rg BT 418.57 66.30 Td (amounts ) Tj ET Q q 0 0 0 rg BT 454.99 66.30 Td (are ) Tj ET Q q 0 0 0 rg BT 469.73 66.30 Td (primarily ) Tj ET Q q 0 0 0 rg BT 509.48 66.30 Td (comprised ) Tj ET Q q 0 0 0 rg BT 553.67 66.30 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 54.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 81.93 54.30 Td (income. ) Tj ET Q q 0 0 0 rg BT 116.19 54.30 Td (This ) Tj ET Q q 0 0 0 rg BT 136.46 54.30 Td (increase ) Tj ET Q q 0 0 0 rg BT 171.72 54.30 Td (is ) Tj ET Q q 0 0 0 rg BT 180.89 54.30 Td (primarily ) Tj ET Q q 0 0 0 rg BT 220.60 54.30 Td (due ) Tj ET Q q 0 0 0 rg BT 237.54 54.30 Td (to ) Tj ET Q q 0 0 0 rg BT 247.82 54.30 Td (higher ) Tj ET Q q 0 0 0 rg BT 275.86 54.30 Td (return ) Tj ET Q q 0 0 0 rg BT 302.24 54.30 Td (on ) Tj ET Q q 0 0 0 rg BT 314.74 54.30 Td (certain ) Tj ET Q q 0 0 0 rg BT 344.44 54.30 Td (securities ) Tj ET Q q 0 0 0 rg BT 384.71 54.30 Td (in ) Tj ET Q q 0 0 0 rg BT 394.99 54.30 Td (our ) Tj ET Q q 0 0 0 rg BT 410.82 54.30 Td (investment ) Tj ET Q q 0 0 0 rg BT 457.20 54.30 Td (portfolio. ) Tj ET Q endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 67.78 742.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 102.77 742.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 150.00 742.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 174.45 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 185.58 742.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.14 742.10 Td (year ) Tj ET Q q 0 0 0 rg BT 221.69 742.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 248.92 742.10 Td (December ) Tj ET Q q 0 0 0 rg BT 293.35 742.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 309.19 742.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.19 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 332.54 742.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.32 742.10 Td ($382,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.82 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 396.16 742.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 438.93 742.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.06 742.10 Td ($529,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.56 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 490.90 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 502.03 742.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.59 742.10 Td (year ) Tj ET Q q 0 0 0 rg BT 538.14 742.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (December ) Tj ET Q q 0 0 0 rg BT 93.64 730.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 108.69 730.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.69 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 133.56 730.10 Td (The ) Tj ET Q q 0 0 0 rg BT 151.66 730.10 Td (dif) Tj ET Q q 0 0 0 rg BT 162.59 730.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 194.56 730.10 Td (is ) Tj ET Q q 0 0 0 rg BT 203.78 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 218.55 730.10 Td (result ) Tj ET Q q 0 0 0 rg BT 243.32 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.21 730.10 Td (management's ) Tj ET Q q 0 0 0 rg BT 313.54 730.10 Td (decision ) Tj ET Q q 0 0 0 rg BT 349.42 730.10 Td (not ) Tj ET Q q 0 0 0 rg BT 364.75 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 375.08 730.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 391.52 730.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 414.63 730.10 Td (income ) Tj ET Q q 0 0 0 rg BT 446.61 730.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 486.93 730.10 Td (due ) Tj ET Q q 0 0 0 rg BT 503.92 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 514.25 730.10 Td (unfavorable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (market ) Tj ET Q q 0 0 0 rg BT 80.26 718.10 Td (conditions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 701.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.91 701.10 Td (annualized ) Tj ET Q q 0 0 0 rg BT 113.59 701.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 147.60 701.10 Td (yield ) Tj ET Q q 0 0 0 rg BT 169.96 701.10 Td (on ) Tj ET Q q 0 0 0 rg BT 182.33 701.10 Td (invested ) Tj ET Q q 0 0 0 rg BT 218.02 701.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 243.72 701.10 Td (\(including ) Tj ET Q q 0 0 0 rg BT 287.19 701.10 Td (net ) Tj ET Q q 0 0 0 rg BT 301.77 701.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 335.78 701.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 359.26 701.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.95 701.10 Td ($382,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.45 701.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 413.15 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 423.30 701.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.88 701.10 Td (year ) Tj ET Q q 0 0 0 rg BT 457.46 701.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 483.70 701.10 Td (December ) Tj ET Q q 0 0 0 rg BT 527.15 701.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 542.02 701.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.02 701.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 689.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 90.09 689.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.20 689.10 Td (2.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.03 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.36 689.10 Td (as ) Tj ET Q q 0 0 0 rg BT 134.03 689.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 175.79 689.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.90 689.10 Td (2.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.73 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 219.06 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 229.17 689.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.73 689.10 Td (year ) Tj ET Q q 0 0 0 rg BT 263.27 689.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 289.48 689.10 Td (December ) Tj ET Q q 0 0 0 rg BT 332.90 689.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 347.73 689.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.73 689.10 Td (. ) Tj ET Q q 0 0 0 rg BT 372.40 689.10 Td (This ) Tj ET Q q 0 0 0 rg BT 392.51 689.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 427.60 689.10 Td (is ) Tj ET Q q 0 0 0 rg BT 436.60 689.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 484.47 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 494.58 689.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 526.35 689.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 547.56 689.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 677.10 Td (mix ) Tj ET Q q 0 0 0 rg BT 82.77 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.60 677.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 133.87 677.10 Td (on ) Tj ET Q q 0 0 0 rg BT 146.37 677.10 Td (hand.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 658.30 Td (Other) Tj ET Q q 0 0 0 rg BT 75.37 658.30 Td ( Income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.79 641.30 Td (recorded ) Tj ET Q q 0 0 0 rg BT 111.45 641.30 Td (other ) Tj ET Q q 0 0 0 rg BT 134.68 641.30 Td (income ) Tj ET Q q 0 0 0 rg BT 166.80 641.30 Td (in ) Tj ET Q q 0 0 0 rg BT 177.26 641.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.16 641.30 Td (year ) Tj ET Q q 0 0 0 rg BT 212.05 641.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 238.61 641.30 Td (December ) Tj ET Q q 0 0 0 rg BT 282.38 641.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 297.56 641.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.56 641.30 Td ( ) Tj ET Q q 0 0 0 rg BT 320.24 641.30 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.25 641.30 Td ($2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.75 641.30 Td ( ) Tj ET Q q 0 0 0 rg BT 361.44 641.30 Td (compared ) Tj ET Q q 0 0 0 rg BT 403.54 641.30 Td (to ) Tj ET Q q 0 0 0 rg BT 414.01 641.30 Td (other ) Tj ET Q q 0 0 0 rg BT 437.24 641.30 Td (income ) Tj ET Q q 0 0 0 rg BT 469.35 641.30 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.37 641.30 Td ($13,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.87 641.30 Td ( ) Tj ET Q q 0 0 0 rg BT 515.55 641.30 Td (for ) Tj ET Q q 0 0 0 rg BT 529.89 641.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.79 641.30 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 76.38 629.30 Td (December ) Tj ET Q q 0 0 0 rg BT 119.96 629.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 134.96 629.30 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 629.30 Td (. ) Tj ET Q q 0 0 0 rg BT 159.96 629.30 Td (Other ) Tj ET Q q 0 0 0 rg BT 185.23 629.30 Td (income ) Tj ET Q q 0 0 0 rg BT 217.16 629.30 Td (was ) Tj ET Q q 0 0 0 rg BT 235.21 629.30 Td (primarily ) Tj ET Q q 0 0 0 rg BT 274.93 629.30 Td (comprised ) Tj ET Q q 0 0 0 rg BT 319.08 629.30 Td (of ) Tj ET Q q 0 0 0 rg BT 329.91 629.30 Td (miscellaneous ) Tj ET Q q 0 0 0 rg BT 389.06 629.30 Td (balances ) Tj ET Q q 0 0 0 rg BT 425.99 629.30 Td (recovered.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 610.50 Td (Combined ) Tj ET Q q 0 0 0 rg BT 96.95 610.50 Td (Ratio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 593.50 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 106.49 593.50 Td (profitability) Tj ET Q q 0 0 0 rg BT 153.61 593.50 Td (, ) Tj ET Q q 0 0 0 rg BT 158.72 593.50 Td (as ) Tj ET Q q 0 0 0 rg BT 169.66 593.50 Td (opposed ) Tj ET Q q 0 0 0 rg BT 205.60 593.50 Td (to ) Tj ET Q q 0 0 0 rg BT 215.98 593.50 Td (overall ) Tj ET Q q 0 0 0 rg BT 246.36 593.50 Td (profitability ) Tj ET Q q 0 0 0 rg BT 296.74 593.50 Td (or ) Tj ET Q q 0 0 0 rg BT 307.68 593.50 Td (net ) Tj ET Q q 0 0 0 rg BT 322.50 593.50 Td (earnings, ) Tj ET Q q 0 0 0 rg BT 361.49 593.50 Td (is ) Tj ET Q q 0 0 0 rg BT 370.77 593.50 Td (measured ) Tj ET Q q 0 0 0 rg BT 411.69 593.50 Td (by ) Tj ET Q q 0 0 0 rg BT 424.30 593.50 Td (the ) Tj ET Q q 0 0 0 rg BT 439.13 593.50 Td (combined ) Tj ET Q q 0 0 0 rg BT 481.17 593.50 Td (ratio. ) Tj ET Q q 0 0 0 rg BT 504.42 593.50 Td (The ) Tj ET Q q 0 0 0 rg BT 522.58 593.50 Td (combined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 581.50 Td (ratio ) Tj ET Q q 0 0 0 rg BT 70.57 581.50 Td (is ) Tj ET Q q 0 0 0 rg BT 79.48 581.50 Td (the ) Tj ET Q q 0 0 0 rg BT 93.94 581.50 Td (sum ) Tj ET Q q 0 0 0 rg BT 112.86 581.50 Td (of ) Tj ET Q q 0 0 0 rg BT 123.43 581.50 Td (the ) Tj ET Q q 0 0 0 rg BT 137.89 581.50 Td (loss ) Tj ET Q q 0 0 0 rg BT 155.70 581.50 Td (and ) Tj ET Q q 0 0 0 rg BT 172.38 581.50 Td (loss ) Tj ET Q q 0 0 0 rg BT 190.18 581.50 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 236.31 581.50 Td (expense ) Tj ET Q q 0 0 0 rg BT 270.76 581.50 Td (\(LAE\) ) Tj ET Q q 0 0 0 rg BT 299.10 581.50 Td (ratio, ) Tj ET Q q 0 0 0 rg BT 322.17 581.50 Td (the ) Tj ET Q q 0 0 0 rg BT 336.63 581.50 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 382.76 581.50 Td (cost ) Tj ET Q q 0 0 0 rg BT 401.11 581.50 Td (ratio ) Tj ET Q q 0 0 0 rg BT 421.68 581.50 Td (and ) Tj ET Q q 0 0 0 rg BT 438.36 581.50 Td (the ) Tj ET Q q 0 0 0 rg BT 452.82 581.50 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 506.72 581.50 Td (expense ) Tj ET Q q 0 0 0 rg BT 541.17 581.50 Td (ratio. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 569.50 Td (Atlas) Tj ET Q q 0 0 0 rg BT 73.70 569.50 Td ( ) Tj ET Q q 0 0 0 rg BT 76.85 569.50 Td (combined ) Tj ET Q q 0 0 0 rg BT 119.44 569.50 Td (ratio ) Tj ET Q q 0 0 0 rg BT 140.92 569.50 Td (for ) Tj ET Q q 0 0 0 rg BT 155.73 569.50 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.10 569.50 Td (years ) Tj ET Q q 0 0 0 rg BT 195.35 569.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 222.38 569.50 Td (December ) Tj ET Q q 0 0 0 rg BT 266.62 569.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 282.27 569.50 Td (2014 ) Tj ET Q q 0 0 0 rg BT 305.42 569.50 Td (and ) Tj ET Q q 0 0 0 rg BT 323.02 569.50 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.02 569.50 Td ( ) Tj ET Q q 0 0 0 rg BT 346.17 569.50 Td (are ) Tj ET Q q 0 0 0 rg BT 361.53 569.50 Td (summarized ) Tj ET Q q 0 0 0 rg BT 413.56 569.50 Td (in ) Tj ET Q q 0 0 0 rg BT 424.49 569.50 Td (the ) Tj ET Q q 0 0 0 rg BT 439.86 569.50 Td (table ) Tj ET Q q 0 0 0 rg BT 462.44 569.50 Td (below) Tj ET Q q 0 0 0 rg BT 486.23 569.50 Td (. ) Tj ET Q q 0 0 0 rg BT 491.66 569.50 Td (The ) Tj ET Q q 0 0 0 rg BT 510.36 569.50 Td (underwriting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 557.50 Td (income ) Tj ET Q q 0 0 0 rg BT 81.98 557.50 Td (is ) Tj ET Q q 0 0 0 rg BT 91.19 557.50 Td (attributable ) Tj ET Q q 0 0 0 rg BT 139.27 557.50 Td (to ) Tj ET Q q 0 0 0 rg BT 149.58 557.50 Td (the ) Tj ET Q q 0 0 0 rg BT 164.34 557.50 Td (factors ) Tj ET Q q 0 0 0 rg BT 194.09 557.50 Td (described ) Tj ET Q q 0 0 0 rg BT 234.95 557.50 Td (in ) Tj ET Q q 0 0 0 rg BT 245.27 557.50 Td (the ) Tj ET Q q 0 0 0 rg BT 260.03 557.50 Td (Claims ) Tj ET Q q 0 0 0 rg BT 294.23 557.50 Td (Incurred, ) Tj ET Q q 0 0 0 rg BT 336.47 557.50 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 389.01 557.50 Td (Costs, ) Tj ET Q q 0 0 0 rg BT 419.61 557.50 Td (and ) Tj ET Q q 0 0 0 rg BT 436.59 557.50 Td (Other ) Tj ET Q q 0 0 0 rg BT 465.23 557.50 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 521.65 557.50 Td (Expenses) Tj ET Q q 0 0 0 rg BT 562.01 557.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 545.50 Td (sections ) Tj ET Q q 0 0 0 rg BT 84.72 545.50 Td (above. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 520.75 Td (Combined ) Tj ET Q q 0 0 0 rg BT 96.95 520.75 Td (Ratios ) Tj ET Q q 0 0 0 rg BT 126.67 520.75 Td (\($ ) Tj ET Q q 0 0 0 rg BT 137.50 520.75 Td (in ) Tj ET Q q 0 0 0 rg BT 148.34 520.75 Td ('000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 515.00 358.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 515.00 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 515.00 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 515.00 74.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 491.00 358.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 491.00 75.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 491.00 5.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 491.00 74.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 515 m 483.5 515 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 502 m 483.5 502 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 515 m 488.5 515 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 502 m 488.5 502 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 515 m 562.5 515 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 502 m 562.5 502 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 502 m 483.5 502 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 502 m 562.5 502 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 469 m 483.5 469 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 469 m 488.5 469 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 469 m 562.5 469 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 505.73 Td (Year Ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.50 505.73 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.00 505.73 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 492.62 Td (Net premium earned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 492.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 492.62 Td (98,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 492.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 492.62 Td (71,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 481.62 Td (Underwriting expenses ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 147.98 486.15 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 481.62 Td (88,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 481.62 Td (67,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 470.62 Td (Combined ratio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 470.62 Td (90.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 470.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 470.62 Td (94.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 470.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET BT /F3 6.50 Tf ET q 0 0 0 rg BT 50.00 462.03 Td (1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.25 457.50 Td ( ) Tj ET Q q 0 0 0 rg BT 56.18 457.50 Td (- ) Tj ET Q q 0 0 0 rg BT 62.44 457.50 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 119.82 457.50 Td (expenses ) Tj ET Q q 0 0 0 rg BT 158.29 457.50 Td (ar) Tj ET Q q 0 0 0 rg BT 166.81 457.50 Td (e ) Tj ET Q q 0 0 0 rg BT 174.18 457.50 Td (the ) Tj ET Q q 0 0 0 rg BT 189.33 457.50 Td (combination ) Tj ET Q q 0 0 0 rg BT 242.25 457.50 Td (of ) Tj ET Q q 0 0 0 rg BT 252.96 457.50 Td (claims ) Tj ET Q q 0 0 0 rg BT 282.00 457.50 Td (incurr) Tj ET Q q 0 0 0 rg BT 306.63 457.50 Td (ed, ) Tj ET Q q 0 0 0 rg BT 321.50 457.50 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 368.88 457.50 Td (costs, ) Tj ET Q q 0 0 0 rg BT 394.31 457.50 Td (and ) Tj ET Q q 0 0 0 rg BT 412.24 457.50 Td (other ) Tj ET Q q 0 0 0 rg BT 436.28 457.50 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 491.44 457.50 Td (expenses ) Tj ET Q q 0 0 0 rg BT 529.90 457.50 Td (and, ) Tj ET Q q 0 0 0 rg BT 550.33 457.50 Td (for ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 445.50 Td (2013, ) Tj ET Q q 0 0 0 rg BT 74.34 445.50 Td (does ) Tj ET Q q 0 0 0 rg BT 94.50 445.50 Td (include ) Tj ET Q q 0 0 0 rg BT 125.78 445.50 Td (the ) Tj ET Q q 0 0 0 rg BT 139.83 445.50 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 177.21 445.50 Td (integration ) Tj ET Q q 0 0 0 rg BT 223.50 445.50 Td (costs. ) Tj ET Q q 0 0 0 rg BT 247.83 445.50 Td (However) Tj ET Q q 0 0 0 rg BT 282.82 445.50 Td (, ) Tj ET Q q 0 0 0 rg BT 287.16 445.50 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 341.22 445.50 Td (expenses ) Tj ET Q q 0 0 0 rg BT 378.60 445.50 Td (does ) Tj ET Q q 0 0 0 rg BT 398.77 445.50 Td (not ) Tj ET Q q 0 0 0 rg BT 413.38 445.50 Td (include ) Tj ET Q q 0 0 0 rg BT 444.65 445.50 Td (the ) Tj ET Q q 0 0 0 rg BT 458.71 445.50 Td (transaction ) Tj ET Q q 0 0 0 rg BT 506.10 445.50 Td (costs ) Tj ET Q q 0 0 0 rg BT 527.94 445.50 Td (incurr) Tj ET Q q 0 0 0 rg BT 552.57 445.50 Td (ed ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 433.50 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 433.50 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 109.99 433.50 Td (with ) Tj ET Q q 0 0 0 rg BT 129.72 433.50 Td (the ) Tj ET Q q 0 0 0 rg BT 144.43 433.50 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 195.27 433.50 Td (mentioned ) Tj ET Q q 0 0 0 rg BT 239.42 433.50 Td (in ) Tj ET Q q 0 0 0 rg BT 249.70 433.50 Td (the ) Tj ET Q q 0 0 0 rg BT 264.42 433.50 Td ('Other ) Tj ET Q q 0 0 0 rg BT 292.39 433.50 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 349.34 433.50 Td (Expenses' ) Tj ET Q q 0 0 0 rg BT 391.18 433.50 Td (section' ) Tj ET Q q 0 0 0 rg BT 424.15 433.50 Td (above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 416.50 Td ( ) Tj ET Q q 0 0 0 rg BT 53.57 416.50 Td (Our ) Tj ET Q q 0 0 0 rg BT 72.70 416.50 Td (combined ) Tj ET Q q 0 0 0 rg BT 115.71 416.50 Td (ratio ) Tj ET Q q 0 0 0 rg BT 137.61 416.50 Td (improvement ) Tj ET Q q 0 0 0 rg BT 194.50 416.50 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.85 416.50 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.85 416.50 Td ( ) Tj ET Q q 0 0 0 rg BT 229.43 416.50 Td (is ) Tj ET Q q 0 0 0 rg BT 239.67 416.50 Td (attributed ) Tj ET Q q 0 0 0 rg BT 281.57 416.50 Td (to ) Tj ET Q q 0 0 0 rg BT 292.92 416.50 Td (the ) Tj ET Q q 0 0 0 rg BT 308.71 416.50 Td (combined ) Tj ET Q q 0 0 0 rg BT 351.72 416.50 Td (ef) Tj ET Q q 0 0 0 rg BT 359.31 416.50 Td (fects ) Tj ET Q q 0 0 0 rg BT 381.76 416.50 Td (of ) Tj ET Q q 0 0 0 rg BT 393.66 416.50 Td (the ) Tj ET Q q 0 0 0 rg BT 409.45 416.50 Td (issues ) Tj ET Q q 0 0 0 rg BT 436.92 416.50 Td (cited ) Tj ET Q q 0 0 0 rg BT 459.93 416.50 Td (in ) Tj ET Q q 0 0 0 rg BT 471.28 416.50 Td (the ) Tj ET Q q 0 0 0 rg BT 487.07 416.50 Td (Claims ) Tj ET Q q 0 0 0 rg BT 522.31 416.50 Td (Incurred, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 404.50 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 102.50 404.50 Td (Costs, ) Tj ET Q q 0 0 0 rg BT 133.06 404.50 Td ( ) Tj ET Q q 0 0 0 rg BT 135.56 404.50 Td ('Other ) Tj ET Q q 0 0 0 rg BT 162.63 404.50 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 219.00 404.50 Td (Expenses' ) Tj ET Q q 0 0 0 rg BT 261.07 404.50 Td (and ) Tj ET Q q 0 0 0 rg BT 278.01 404.50 Td ('Net ) Tj ET Q q 0 0 0 rg BT 296.75 404.50 Td (Premium ) Tj ET Q q 0 0 0 rg BT 335.92 404.50 Td (Earned' ) Tj ET Q q 0 0 0 rg BT 368.54 404.50 Td (sections ) Tj ET Q q 0 0 0 rg BT 403.25 404.50 Td (above.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 387.50 Td (Income ) Tj ET Q q 0 0 0 rg BT 84.16 387.50 Td (befor) Tj ET Q q 0 0 0 rg BT 106.75 387.50 Td (e ) Tj ET Q q 0 0 0 rg BT 113.69 387.50 Td (Income ) Tj ET Q q 0 0 0 rg BT 147.67 387.50 Td (T) Tj ET Q q 0 0 0 rg BT 153.42 387.50 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.01 370.50 Td (generated ) Tj ET Q q 0 0 0 rg BT 113.78 370.50 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 144.00 370.50 Td (income ) Tj ET Q q 0 0 0 rg BT 175.34 370.50 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.58 370.50 Td ($1) Tj ET Q q 0 0 0 rg BT 195.21 370.50 Td (1.9 ) Tj ET Q q 0 0 0 rg BT 209.61 370.50 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.50 370.50 Td ( ) Tj ET Q q 0 0 0 rg BT 240.41 370.50 Td (in ) Tj ET Q q 0 0 0 rg BT 250.09 370.50 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.22 370.50 Td (year ) Tj ET Q q 0 0 0 rg BT 283.33 370.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 309.11 370.50 Td (December ) Tj ET Q q 0 0 0 rg BT 352.10 370.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 366.51 370.50 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.51 370.50 Td (, ) Tj ET Q q 0 0 0 rg BT 390.91 370.50 Td (compared ) Tj ET Q q 0 0 0 rg BT 432.24 370.50 Td (to ) Tj ET Q q 0 0 0 rg BT 441.93 370.50 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 472.15 370.50 Td (income ) Tj ET Q q 0 0 0 rg BT 503.49 370.50 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.72 370.50 Td ($6.3 ) Tj ET Q q 0 0 0 rg BT 533.13 370.50 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.02 370.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.50 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.28 358.50 Td (year ) Tj ET Q q 0 0 0 rg BT 79.99 358.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 106.36 358.50 Td (December ) Tj ET Q q 0 0 0 rg BT 149.95 358.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 164.95 358.50 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.95 358.50 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 341.50 Td (Income ) Tj ET Q q 0 0 0 rg BT 83.98 341.50 Td (T) Tj ET Q q 0 0 0 rg BT 89.73 341.50 Td (ax ) Tj ET Q q 0 0 0 rg BT 102.23 341.50 Td (Benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.38 324.50 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.52 324.50 Td ($5.8 ) Tj ET Q q 0 0 0 rg BT 139.29 324.50 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.18 324.50 Td ( ) Tj ET Q q 0 0 0 rg BT 170.45 324.50 Td (of ) Tj ET Q q 0 0 0 rg BT 181.06 324.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 195.55 324.50 Td (benefit ) Tj ET Q q 0 0 0 rg BT 225.58 324.50 Td (in ) Tj ET Q q 0 0 0 rg BT 235.63 324.50 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.12 324.50 Td (year ) Tj ET Q q 0 0 0 rg BT 269.60 324.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 295.75 324.50 Td (December ) Tj ET Q q 0 0 0 rg BT 339.11 324.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 353.88 324.50 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.88 324.50 Td (, ) Tj ET Q q 0 0 0 rg BT 378.66 324.50 Td (and ) Tj ET Q q 0 0 0 rg BT 395.37 324.50 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 324.50 Td ($72,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 324.50 Td ( ) Tj ET Q q 0 0 0 rg BT 476.28 324.50 Td (of ) Tj ET Q q 0 0 0 rg BT 486.88 324.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 501.37 324.50 Td (expense ) Tj ET Q q 0 0 0 rg BT 535.85 324.50 Td (for ) Tj ET Q q 0 0 0 rg BT 549.78 324.50 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.50 Td (year ) Tj ET Q q 0 0 0 rg BT 69.38 312.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 95.43 312.50 Td (December ) Tj ET Q q 0 0 0 rg BT 138.68 312.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 153.36 312.50 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.36 312.50 Td (. ) Tj ET Q q 0 0 0 rg BT 178.03 312.50 Td ( ) Tj ET Q q 0 0 0 rg BT 180.04 312.50 Td (The ) Tj ET Q q 0 0 0 rg BT 197.76 312.50 Td (following ) Tj ET Q q 0 0 0 rg BT 238.82 312.50 Td (table ) Tj ET Q q 0 0 0 rg BT 260.42 312.50 Td (reconciles ) Tj ET Q q 0 0 0 rg BT 303.13 312.50 Td (the ) Tj ET Q q 0 0 0 rg BT 317.52 312.50 Td (statutory ) Tj ET Q q 0 0 0 rg BT 354.68 312.50 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 374.64 312.50 Td (Federal ) Tj ET Q q 0 0 0 rg BT 406.80 312.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 421.19 312.50 Td (rate ) Tj ET Q q 0 0 0 rg BT 438.34 312.50 Td (of ) Tj ET Q q 0 0 0 rg BT 448.84 312.50 Td (34.0% ) Tj ET Q q 0 0 0 rg BT 476.85 312.50 Td (to ) Tj ET Q q 0 0 0 rg BT 486.80 312.50 Td (the ) Tj ET Q q 0 0 0 rg BT 501.19 312.50 Td (actual ) Tj ET Q q 0 0 0 rg BT 527.23 312.50 Td (ef) Tj ET Q q 0 0 0 rg BT 534.82 312.50 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 64.72 300.50 Td (rate ) Tj ET Q q 0 0 0 rg BT 82.20 300.50 Td (for ) Tj ET Q q 0 0 0 rg BT 96.36 300.50 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.08 300.50 Td (years ) Tj ET Q q 0 0 0 rg BT 134.68 300.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 161.05 300.50 Td (December ) Tj ET Q q 0 0 0 rg BT 204.64 300.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 219.64 300.50 Td (2014 ) Tj ET Q q 0 0 0 rg BT 242.14 300.50 Td (and ) Tj ET Q q 0 0 0 rg BT 259.08 300.50 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.08 300.50 Td (:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 275.75 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 275.75 Td (ax Rate Reconciliation \($ in '000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 270.00 331.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 270.00 88.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 270.00 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 270.00 88.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 246.00 331.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 246.00 45.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 246.00 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 246.00 39.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 246.00 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 246.00 45.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 246.00 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 246.00 39.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 204.00 331.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 204.00 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 204.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 204.00 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 204.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 204.00 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 204.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 204.00 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 174.00 331.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 174.00 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 174.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 174.00 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 174.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 174.00 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 174.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 174.00 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 144.00 331.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 144.00 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 144.00 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 144.00 39.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 144.00 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 144.00 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 144.00 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 144.00 39.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 270 m 426.5 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 258 m 426.5 258 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 270 m 430.5 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 258 m 430.5 258 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 270 m 469.5 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 258 m 469.5 258 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 270 m 473.5 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 258 m 473.5 258 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 270 m 518.5 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 258 m 518.5 258 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 270 m 522.5 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 258 m 522.5 258 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 270 m 561.5 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 258 m 561.5 258 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 246 m 426.5 246 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 246 m 469.5 246 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 246 m 518.5 246 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 246 m 561.5 246 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 246 m 426.5 246 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 246 m 469.5 246 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 246 m 518.5 246 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 246 m 561.5 246 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 144 m 426.5 144 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 144 m 430.5 144 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 144 m 469.5 144 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 144 m 473.5 144 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 144 m 518.5 144 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 144 m 522.5 144 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 144 m 561.5 144 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 133 m 426.5 133 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 131 m 426.5 131 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 133 m 430.5 133 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 131 m 430.5 131 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 133 m 469.5 133 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 131 m 469.5 131 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 133 m 473.5 133 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 131 m 473.5 131 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 133 m 518.5 133 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 131 m 518.5 131 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 133 m 522.5 133 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518.5 131 m 522.5 131 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 133 m 561.5 133 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 131 m 561.5 131 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.00 260.73 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.00 260.73 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.95 248.73 Td (Amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.50 248.73 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.95 248.73 Td (Amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.50 248.73 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 223.67 Td (Expected income tax expense at statutory rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 223.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 223.67 Td (4,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.80 223.67 Td (34.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.65 223.67 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.00 223.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.15 223.67 Td (2,126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 223.67 Td (34.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 223.67 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 208.67 Td (Change in valuation allowance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.80 208.72 Td (\(9,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 208.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.45 208.67 Td (\(79.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.30 208.67 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.80 208.72 Td (\(2,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.65 208.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.45 208.67 Td (\(44.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 208.67 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 193.67 Td (Nondeductible expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 193.67 Td (136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.80 193.67 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.65 193.67 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 193.67 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 193.67 Td (1.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 193.67 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 178.67 Td (State tax \(net of federal benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 178.67 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.80 178.67 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.65 178.67 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 178.67 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 178.67 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 178.67 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 163.67 Td (Tax net operating loss limitation write-down \(excluding valuation allowance\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.30 163.72 Td (\(519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 163.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.45 163.67 Td (\(4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.30 163.67 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 163.67 Td (626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 163.67 Td (10.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 163.67 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 148.67 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.30 148.72 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 148.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.45 148.67 Td (\(0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.30 148.67 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.30 148.72 Td (\(25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.65 148.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.45 148.67 Td (\(0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 148.67 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 134.62 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 134.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.80 134.62 Td (\(5,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 134.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.45 134.62 Td (\(48.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.30 134.62 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.00 134.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.65 134.62 Td (72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 134.62 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 134.62 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.50 Td (Upon ) Tj ET Q q 0 0 0 rg BT 74.22 115.50 Td (the ) Tj ET Q q 0 0 0 rg BT 88.44 115.50 Td (transaction ) Tj ET Q q 0 0 0 rg BT 134.31 115.50 Td (forming ) Tj ET Q q 0 0 0 rg BT 168.09 115.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 191.20 115.50 Td (on ) Tj ET Q q 0 0 0 rg BT 203.20 115.50 Td (December ) Tj ET Q q 0 0 0 rg BT 246.28 115.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 260.79 115.50 Td (2010, ) Tj ET Q q 0 0 0 rg BT 285.29 115.50 Td (a ) Tj ET Q q 0 0 0 rg BT 291.73 115.50 Td (yearly ) Tj ET Q q 0 0 0 rg BT 318.71 115.50 Td (limitation ) Tj ET Q q 0 0 0 rg BT 359.60 115.50 Td (as ) Tj ET Q q 0 0 0 rg BT 369.93 115.50 Td (required ) Tj ET Q q 0 0 0 rg BT 405.25 115.50 Td (by ) Tj ET Q q 0 0 0 rg BT 417.25 115.50 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 437.03 115.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 451.25 115.50 Td (law ) Tj ET Q q 0 0 0 rg BT 467.69 115.50 Td (Section ) Tj ET Q q 0 0 0 rg BT 499.69 115.50 Td (382 ) Tj ET Q q 0 0 0 rg BT 516.69 115.50 Td (that ) Tj ET Q q 0 0 0 rg BT 533.68 115.50 Td (applies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.50 Td (to ) Tj ET Q q 0 0 0 rg BT 61.51 103.50 Td (changes ) Tj ET Q q 0 0 0 rg BT 97.45 103.50 Td (in ) Tj ET Q q 0 0 0 rg BT 108.97 103.50 Td (ownership ) Tj ET Q q 0 0 0 rg BT 154.36 103.50 Td (on ) Tj ET Q q 0 0 0 rg BT 168.10 103.50 Td (the ) Tj ET Q q 0 0 0 rg BT 184.05 103.50 Td (future ) Tj ET Q q 0 0 0 rg BT 211.66 103.50 Td (utilization ) Tj ET Q q 0 0 0 rg BT 255.94 103.50 Td (of ) Tj ET Q q 0 0 0 rg BT 267.18 103.50 Td (Atlas) Tj ET Q q 0 0 0 rg BT 290.88 103.50 Td ( ) Tj ET Q q 0 0 0 rg BT 294.61 103.50 Td (net ) Tj ET Q q 0 0 0 rg BT 310.56 103.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 352.06 103.50 Td (loss ) Tj ET Q q 0 0 0 rg BT 371.36 103.50 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 431.17 103.50 Td (was ) Tj ET Q q 0 0 0 rg BT 450.46 103.50 Td (calculated. ) Tj ET Q q 0 0 0 rg BT 497.22 103.50 Td ( ) Tj ET Q q 0 0 0 rg BT 500.95 103.50 Td ( ) Tj ET Q q 0 0 0 rg BT 504.42 103.50 Td (The ) Tj ET Q q 0 0 0 rg BT 523.70 103.50 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 91.50 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 99.80 91.50 Td ( ) Tj ET Q q 0 0 0 rg BT 102.39 91.50 Td (prior ) Tj ET Q q 0 0 0 rg BT 124.42 91.50 Td (parent ) Tj ET Q q 0 0 0 rg BT 151.99 91.50 Td (retained ) Tj ET Q q 0 0 0 rg BT 186.78 91.50 Td (those ) Tj ET Q q 0 0 0 rg BT 210.48 91.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 225.28 91.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 251.20 91.50 Td (previously ) Tj ET Q q 0 0 0 rg BT 296.01 91.50 Td (attributed ) Tj ET Q q 0 0 0 rg BT 336.91 91.50 Td (to ) Tj ET Q q 0 0 0 rg BT 347.28 91.50 Td (the ) Tj ET Q q 0 0 0 rg BT 362.08 91.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 402.99 91.50 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 452.79 91.50 Td (which ) Tj ET Q q 0 0 0 rg BT 479.82 91.50 Td (could ) Tj ET Q q 0 0 0 rg BT 504.62 91.50 Td (not ) Tj ET Q q 0 0 0 rg BT 519.99 91.50 Td (be ) Tj ET Q q 0 0 0 rg BT 532.02 91.50 Td (utilized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.50 Td (by ) Tj ET Q q 0 0 0 rg BT 62.27 79.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 86.28 79.50 Td (as ) Tj ET Q q 0 0 0 rg BT 97.52 79.50 Td (a ) Tj ET Q q 0 0 0 rg BT 104.87 79.50 Td (result ) Tj ET Q q 0 0 0 rg BT 129.99 79.50 Td (of ) Tj ET Q q 0 0 0 rg BT 141.23 79.50 Td (this ) Tj ET Q q 0 0 0 rg BT 158.58 79.50 Td (limitation. ) Tj ET Q q 0 0 0 rg BT 202.88 79.50 Td ( ) Tj ET Q q 0 0 0 rg BT 205.15 79.50 Td (As ) Tj ET Q q 0 0 0 rg BT 219.17 79.50 Td (a ) Tj ET Q q 0 0 0 rg BT 226.51 79.50 Td (result, ) Tj ET Q q 0 0 0 rg BT 253.50 79.50 Td (Atlas) Tj ET Q q 0 0 0 rg BT 277.19 79.50 Td ( ) Tj ET Q q 0 0 0 rg BT 280.10 79.50 Td (ability ) Tj ET Q q 0 0 0 rg BT 308.56 79.50 Td (to ) Tj ET Q q 0 0 0 rg BT 319.24 79.50 Td (recognize ) Tj ET Q q 0 0 0 rg BT 361.01 79.50 Td (future ) Tj ET Q q 0 0 0 rg BT 387.80 79.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 402.92 79.50 Td (benefits ) Tj ET Q q 0 0 0 rg BT 437.49 79.50 Td (associated ) Tj ET Q q 0 0 0 rg BT 481.49 79.50 Td (with ) Tj ET Q q 0 0 0 rg BT 502.17 79.50 Td (a ) Tj ET Q q 0 0 0 rg BT 509.52 79.50 Td (portion ) Tj ET Q q 0 0 0 rg BT 541.31 79.50 Td (of ) Tj ET Q q 0 0 0 rg BT 552.55 79.50 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.50 Td (deferred ) Tj ET Q q 0 0 0 rg BT 86.61 67.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 102.12 67.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 128.75 67.50 Td (generated ) Tj ET Q q 0 0 0 rg BT 170.91 67.50 Td (during ) Tj ET Q q 0 0 0 rg BT 200.32 67.50 Td (prior ) Tj ET Q q 0 0 0 rg BT 223.06 67.50 Td (years ) Tj ET Q q 0 0 0 rg BT 247.46 67.50 Td (have ) Tj ET Q q 0 0 0 rg BT 269.64 67.50 Td (been ) Tj ET Q q 0 0 0 rg BT 291.81 67.50 Td (permanently ) Tj ET Q q 0 0 0 rg BT 345.09 67.50 Td (limited ) Tj ET Q q 0 0 0 rg BT 376.72 67.50 Td (to ) Tj ET Q q 0 0 0 rg BT 387.80 67.50 Td (the ) Tj ET Q q 0 0 0 rg BT 403.32 67.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 436.61 67.50 Td (determined ) Tj ET Q q 0 0 0 rg BT 484.89 67.50 Td (under ) Tj ET Q q 0 0 0 rg BT 510.96 67.50 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 532.04 67.50 Td (tax ) Tj ET Q q 0 0 0 rg BT 547.56 67.50 Td (law ) Tj ET Q endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 82.93 742.10 Td (382. ) Tj ET Q q 0 0 0 rg BT 103.16 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 121.65 742.10 Td (result ) Tj ET Q q 0 0 0 rg BT 146.80 742.10 Td (is ) Tj ET Q q 0 0 0 rg BT 156.41 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 163.79 742.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 207.28 742.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 245.75 742.10 Td (net ) Tj ET Q q 0 0 0 rg BT 260.91 742.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 297.16 742.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 312.31 742.10 Td (asset, ) Tj ET Q q 0 0 0 rg BT 337.19 742.10 Td (which ) Tj ET Q q 0 0 0 rg BT 363.92 742.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 387.97 742.10 Td (has ) Tj ET Q q 0 0 0 rg BT 404.24 742.10 Td (available ) Tj ET Q q 0 0 0 rg BT 443.26 742.10 Td (after ) Tj ET Q q 0 0 0 rg BT 464.52 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.68 742.10 Td (mer) Tj ET Q q 0 0 0 rg BT 495.04 742.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 510.75 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 528.13 742.10 Td (believed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (more-likely-than-not ) Tj ET Q q 0 0 0 rg BT 135.81 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 146.08 730.10 Td (be ) Tj ET Q q 0 0 0 rg BT 158.02 730.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 190.51 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 200.79 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 215.51 730.10 Td (future, ) Tj ET Q q 0 0 0 rg BT 244.38 730.10 Td (after ) Tj ET Q q 0 0 0 rg BT 265.20 730.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 321.57 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 332.40 730.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 372.11 730.10 Td (allowance. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 713.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.46 713.10 Td (part ) Tj ET Q q 0 0 0 rg BT 81.36 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 92.04 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 107.72 713.10 Td (on-going ) Tj ET Q q 0 0 0 rg BT 146.18 713.10 Td (analysis ) Tj ET Q q 0 0 0 rg BT 180.75 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 191.43 713.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 227.09 713.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 241.66 713.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 269.84 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 272.19 713.10 Td (management ) Tj ET Q q 0 0 0 rg BT 325.63 713.10 Td (has ) Tj ET Q q 0 0 0 rg BT 341.31 713.10 Td (assessed ) Tj ET Q q 0 0 0 rg BT 377.54 713.10 Td (both ) Tj ET Q q 0 0 0 rg BT 397.67 713.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 431.69 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 448.48 713.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 484.70 713.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 522.59 713.10 Td (according ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.23 701.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 98.78 701.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 136.78 701.10 Td (by ) Tj ET Q q 0 0 0 rg BT 149.24 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 163.91 701.10 Td (F) Tj ET Q q 0 0 0 rg BT 168.73 701.10 Td (ASB. ) Tj ET Q q 0 0 0 rg BT 193.14 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 195.59 701.10 Td (Based ) Tj ET Q q 0 0 0 rg BT 222.49 701.10 Td (on ) Tj ET Q q 0 0 0 rg BT 234.94 701.10 Td (this ) Tj ET Q q 0 0 0 rg BT 251.85 701.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 290.39 701.10 Td (we ) Tj ET Q q 0 0 0 rg BT 304.51 701.10 Td (have ) Tj ET Q q 0 0 0 rg BT 325.84 701.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 373.28 701.10 Td (that ) Tj ET Q q 0 0 0 rg BT 390.73 701.10 Td (it ) Tj ET Q q 0 0 0 rg BT 398.74 701.10 Td (is ) Tj ET Q q 0 0 0 rg BT 407.86 701.10 Td (more ) Tj ET Q q 0 0 0 rg BT 430.87 701.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 456.09 701.10 Td (than ) Tj ET Q q 0 0 0 rg BT 475.77 701.10 Td (not ) Tj ET Q q 0 0 0 rg BT 491.00 701.10 Td (that ) Tj ET Q q 0 0 0 rg BT 508.45 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.12 701.10 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 689.10 Td (will ) Tj ET Q q 0 0 0 rg BT 68.94 689.10 Td (be ) Tj ET Q q 0 0 0 rg BT 81.76 689.10 Td (able ) Tj ET Q q 0 0 0 rg BT 101.79 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 112.95 689.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 135.22 689.10 Td (utilize ) Tj ET Q q 0 0 0 rg BT 163.59 689.10 Td (its ) Tj ET Q q 0 0 0 rg BT 176.42 689.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 213.11 689.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 228.71 689.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 255.42 689.10 Td (as ) Tj ET Q q 0 0 0 rg BT 267.13 689.10 Td (a ) Tj ET Q q 0 0 0 rg BT 274.95 689.10 Td (result ) Tj ET Q q 0 0 0 rg BT 300.55 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 312.26 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.86 689.10 Td (overwhelming ) Tj ET Q q 0 0 0 rg BT 389.00 689.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 424.05 689.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 462.96 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 480.78 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 496.38 689.10 Td (lack ) Tj ET Q q 0 0 0 rg BT 516.42 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 528.13 689.10 Td (negative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 677.10 Td (evidence. ) Tj ET Q q 0 0 0 rg BT 91.26 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 93.77 677.10 Td (As ) Tj ET Q q 0 0 0 rg BT 108.11 677.10 Td (such, ) Tj ET Q q 0 0 0 rg BT 132.17 677.10 Td (it ) Tj ET Q q 0 0 0 rg BT 140.95 677.10 Td (has ) Tj ET Q q 0 0 0 rg BT 157.51 677.10 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 199.05 677.10 Td (its ) Tj ET Q q 0 0 0 rg BT 211.72 677.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 252.16 677.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 295.92 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 313.58 677.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 361.79 677.10 Td (that ) Tj ET Q q 0 0 0 rg BT 380.01 677.10 Td (all ) Tj ET Q q 0 0 0 rg BT 393.23 677.10 Td (DT) Tj ET Q q 0 0 0 rg BT 405.76 677.10 Td (As ) Tj ET Q q 0 0 0 rg BT 420.10 677.10 Td (net ) Tj ET Q q 0 0 0 rg BT 435.55 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 447.10 677.10 Td (DTLs ) Tj ET Q q 0 0 0 rg BT 473.66 677.10 Td (are ) Tj ET Q q 0 0 0 rg BT 489.09 677.10 Td (available ) Tj ET Q q 0 0 0 rg BT 528.41 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 539.41 677.10 Td (of) Tj ET Q q 0 0 0 rg BT 547.56 677.10 Td (fset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 665.10 Td (income ) Tj ET Q q 0 0 0 rg BT 81.73 665.10 Td (in ) Tj ET Q q 0 0 0 rg BT 91.80 665.10 Td (all ) Tj ET Q q 0 0 0 rg BT 104.10 665.10 Td (future ) Tj ET Q q 0 0 0 rg BT 130.27 665.10 Td (periods. ) Tj ET Q q 0 0 0 rg BT 164.50 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 166.63 665.10 Td (This ) Tj ET Q q 0 0 0 rg BT 186.71 665.10 Td (conclusion ) Tj ET Q q 0 0 0 rg BT 232.33 665.10 Td (is ) Tj ET Q q 0 0 0 rg BT 241.30 665.10 Td (based ) Tj ET Q q 0 0 0 rg BT 266.36 665.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 288.66 665.10 Td (management) Tj ET Q q 0 0 0 rg BT 342.53 665.10 Td (s ) Tj ET Q q 0 0 0 rg BT 348.71 665.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 392.66 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 403.29 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 417.80 665.10 Td (new ) Tj ET Q q 0 0 0 rg BT 436.76 665.10 Td (information ) Tj ET Q q 0 0 0 rg BT 486.27 665.10 Td (it ) Tj ET Q q 0 0 0 rg BT 494.12 665.10 Td (has ) Tj ET Q q 0 0 0 rg BT 509.74 665.10 Td (analyzed ) Tj ET Q q 0 0 0 rg BT 547.57 665.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 653.10 Td (not ) Tj ET Q q 0 0 0 rg BT 65.39 653.10 Td (from ) Tj ET Q q 0 0 0 rg BT 87.44 653.10 Td (management) Tj ET Q q 0 0 0 rg BT 141.31 653.10 Td (s ) Tj ET Q q 0 0 0 rg BT 147.81 653.10 Td (new ) Tj ET Q q 0 0 0 rg BT 167.08 653.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 211.34 653.10 Td (or ) Tj ET Q q 0 0 0 rg BT 222.28 653.10 Td (new ) Tj ET Q q 0 0 0 rg BT 241.56 653.10 Td (interpretation ) Tj ET Q q 0 0 0 rg BT 298.03 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 308.98 653.10 Td (information ) Tj ET Q q 0 0 0 rg BT 358.80 653.10 Td (that ) Tj ET Q q 0 0 0 rg BT 376.41 653.10 Td (was ) Tj ET Q q 0 0 0 rg BT 394.57 653.10 Td (available ) Tj ET Q q 0 0 0 rg BT 433.27 653.10 Td (in ) Tj ET Q q 0 0 0 rg BT 443.66 653.10 Td (a ) Tj ET Q q 0 0 0 rg BT 450.71 653.10 Td (previous ) Tj ET Q q 0 0 0 rg BT 487.76 653.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 525.35 653.10 Td (reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 80.06 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 81.63 641.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 130.97 641.10 Td (, ) Tj ET Q q 0 0 0 rg BT 135.48 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 149.72 641.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 190.62 641.10 Td (has ) Tj ET Q q 0 0 0 rg BT 205.97 641.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 242.96 641.10 Td (an ) Tj ET Q q 0 0 0 rg BT 254.41 641.10 Td (entry ) Tj ET Q q 0 0 0 rg BT 276.97 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 286.77 641.10 Td (its ) Tj ET Q q 0 0 0 rg BT 298.23 641.10 Td (year) Tj ET Q q 0 0 0 rg BT 315.24 641.10 Td (-end ) Tj ET Q q 0 0 0 rg BT 335.02 641.10 Td (closing ) Tj ET Q q 0 0 0 rg BT 365.92 641.10 Td (process ) Tj ET Q q 0 0 0 rg BT 397.93 641.10 Td (commensurate ) Tj ET Q q 0 0 0 rg BT 458.26 641.10 Td (with ) Tj ET Q q 0 0 0 rg BT 478.05 641.10 Td (this ) Tj ET Q q 0 0 0 rg BT 494.51 641.10 Td (conclusion. ) Tj ET Q q 0 0 0 rg BT 542.35 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 544.22 641.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 84.16 629.10 Td (in ) Tj ET Q q 0 0 0 rg BT 94.43 629.10 Td (a ) Tj ET Q q 0 0 0 rg BT 101.37 629.10 Td (book ) Tj ET Q q 0 0 0 rg BT 123.87 629.10 Td (value ) Tj ET Q q 0 0 0 rg BT 148.03 629.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 183.28 629.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.11 629.10 Td ($9.4 ) Tj ET Q q 0 0 0 rg BT 214.11 629.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.00 629.10 Td ( ) Tj ET Q q 0 0 0 rg BT 245.50 629.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.33 629.10 Td ($0.81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.83 629.10 Td ( ) Tj ET Q q 0 0 0 rg BT 281.33 629.10 Td (per ) Tj ET Q q 0 0 0 rg BT 296.60 629.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 326.88 629.10 Td (common ) Tj ET Q q 0 0 0 rg BT 364.37 629.10 Td (share ) Tj ET Q q 0 0 0 rg BT 387.97 629.10 Td (for ) Tj ET Q q 0 0 0 rg BT 402.13 629.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.85 629.10 Td (year ) Tj ET Q q 0 0 0 rg BT 436.55 629.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 462.93 629.10 Td (December ) Tj ET Q q 0 0 0 rg BT 506.51 629.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 521.51 629.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.51 629.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 610.30 Td (Net ) Tj ET Q q 0 0 0 rg BT 67.49 610.30 Td (Income ) Tj ET Q q 0 0 0 rg BT 101.65 610.30 Td (and ) Tj ET Q q 0 0 0 rg BT 120.27 610.30 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 161.67 610.30 Td (per) Tj ET Q q 0 0 0 rg BT 175.93 610.30 Td ( ) Tj ET Q q 0 0 0 rg BT 178.43 610.30 Td (Common ) Tj ET Q q 0 0 0 rg BT 220.38 610.30 Td (Shar) Tj ET Q q 0 0 0 rg BT 240.76 610.30 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 593.30 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 75.41 593.30 Td (net ) Tj ET Q q 0 0 0 rg BT 90.13 593.30 Td (income ) Tj ET Q q 0 0 0 rg BT 122.07 593.30 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.13 593.30 Td ($17.7 ) Tj ET Q q 0 0 0 rg BT 165.13 593.30 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.02 593.30 Td ( ) Tj ET Q q 0 0 0 rg BT 196.53 593.30 Td (for ) Tj ET Q q 0 0 0 rg BT 210.69 593.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.41 593.30 Td (year ) Tj ET Q q 0 0 0 rg BT 245.12 593.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 271.50 593.30 Td (December ) Tj ET Q q 0 0 0 rg BT 315.09 593.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 330.10 593.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.10 593.30 Td ( ) Tj ET Q q 0 0 0 rg BT 352.60 593.30 Td (versus ) Tj ET Q q 0 0 0 rg BT 380.66 593.30 Td (net ) Tj ET Q q 0 0 0 rg BT 395.38 593.30 Td (income ) Tj ET Q q 0 0 0 rg BT 427.31 593.30 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 593.30 Td ($6.2 ) Tj ET Q q 0 0 0 rg BT 458.15 593.30 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.04 593.30 Td ( ) Tj ET Q q 0 0 0 rg BT 489.55 593.30 Td (for ) Tj ET Q q 0 0 0 rg BT 503.71 593.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.43 593.30 Td (year ) Tj ET Q q 0 0 0 rg BT 538.14 593.30 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 581.30 Td (December ) Tj ET Q q 0 0 0 rg BT 92.71 581.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 106.84 581.30 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.84 581.30 Td (. ) Tj ET Q q 0 0 0 rg BT 130.97 581.30 Td ( ) Tj ET Q q 0 0 0 rg BT 132.23 581.30 Td (After ) Tj ET Q q 0 0 0 rg BT 154.96 581.30 Td (taking ) Tj ET Q q 0 0 0 rg BT 181.58 581.30 Td (the ) Tj ET Q q 0 0 0 rg BT 195.43 581.30 Td (impact ) Tj ET Q q 0 0 0 rg BT 224.27 581.30 Td (of ) Tj ET Q q 0 0 0 rg BT 234.22 581.30 Td (the ) Tj ET Q q 0 0 0 rg BT 248.07 581.30 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 293.03 581.30 Td (preference ) Tj ET Q q 0 0 0 rg BT 336.84 581.30 Td (of ) Tj ET Q q 0 0 0 rg BT 346.79 581.30 Td (the ) Tj ET Q q 0 0 0 rg BT 360.64 581.30 Td (preferred ) Tj ET Q q 0 0 0 rg BT 398.90 581.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 425.52 581.30 Td (into ) Tj ET Q q 0 0 0 rg BT 442.70 581.30 Td (consideration ) Tj ET Q q 0 0 0 rg BT 498.20 581.30 Td (and ) Tj ET Q q 0 0 0 rg BT 514.27 581.30 Td (the ) Tj ET Q q 0 0 0 rg BT 528.11 581.30 Td (discount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 569.30 Td (generated ) Tj ET Q q 0 0 0 rg BT 91.32 569.30 Td (as ) Tj ET Q q 0 0 0 rg BT 102.11 569.30 Td (a ) Tj ET Q q 0 0 0 rg BT 109.01 569.30 Td (result ) Tj ET Q q 0 0 0 rg BT 133.68 569.30 Td (of ) Tj ET Q q 0 0 0 rg BT 144.47 569.30 Td (the ) Tj ET Q q 0 0 0 rg BT 159.15 569.30 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 204.91 569.30 Td (of ) Tj ET Q q 0 0 0 rg BT 215.70 569.30 Td (18,000,000 ) Tj ET Q q 0 0 0 rg BT 263.16 569.30 Td (preferred ) Tj ET Q q 0 0 0 rg BT 302.25 569.30 Td (shares, ) Tj ET Q q 0 0 0 rg BT 332.20 569.30 Td (the ) Tj ET Q q 0 0 0 rg BT 346.88 569.30 Td (diluted ) Tj ET Q q 0 0 0 rg BT 377.11 569.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 413.44 569.30 Td (per ) Tj ET Q q 0 0 0 rg BT 428.67 569.30 Td (common ) Tj ET Q q 0 0 0 rg BT 466.12 569.30 Td (share ) Tj ET Q q 0 0 0 rg BT 489.68 569.30 Td (for ) Tj ET Q q 0 0 0 rg BT 503.80 569.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.47 569.30 Td (year ) Tj ET Q q 0 0 0 rg BT 538.14 569.30 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 557.30 Td (December ) Tj ET Q q 0 0 0 rg BT 93.58 557.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 108.58 557.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 557.30 Td ( ) Tj ET Q q 0 0 0 rg BT 131.08 557.30 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.14 557.30 Td ($1.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.64 557.30 Td ( ) Tj ET Q q 0 0 0 rg BT 174.14 557.30 Td (versus ) Tj ET Q q 0 0 0 rg BT 202.19 557.30 Td (diluted ) Tj ET Q q 0 0 0 rg BT 232.46 557.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 268.84 557.30 Td (per ) Tj ET Q q 0 0 0 rg BT 284.11 557.30 Td (common ) Tj ET Q q 0 0 0 rg BT 321.60 557.30 Td (share ) Tj ET Q q 0 0 0 rg BT 345.20 557.30 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.03 557.30 Td ($0.74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.53 557.30 Td ( ) Tj ET Q q 0 0 0 rg BT 381.03 557.30 Td (for ) Tj ET Q q 0 0 0 rg BT 395.19 557.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.91 557.30 Td (year ) Tj ET Q q 0 0 0 rg BT 429.61 557.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 455.99 557.30 Td (December ) Tj ET Q q 0 0 0 rg BT 499.58 557.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 514.58 557.30 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.58 557.30 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 540.30 Td (For ) Tj ET Q q 0 0 0 rg BT 66.80 540.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.92 540.30 Td (year ) Tj ET Q q 0 0 0 rg BT 102.03 540.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 128.81 540.30 Td (December ) Tj ET Q q 0 0 0 rg BT 172.80 540.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 188.21 540.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.21 540.30 Td (, ) Tj ET Q q 0 0 0 rg BT 213.61 540.30 Td (there ) Tj ET Q q 0 0 0 rg BT 236.50 540.30 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.84 540.30 Td (10,937,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.84 540.30 Td ( ) Tj ET Q q 0 0 0 rg BT 306.74 540.30 Td (weighted ) Tj ET Q q 0 0 0 rg BT 346.30 540.30 Td (average ) Tj ET Q q 0 0 0 rg BT 380.29 540.30 Td (common ) Tj ET Q q 0 0 0 rg BT 418.19 540.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 446.09 540.30 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 495.66 540.30 Td (used ) Tj ET Q q 0 0 0 rg BT 516.89 540.30 Td (to ) Tj ET Q q 0 0 0 rg BT 527.58 540.30 Td (compute ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 528.30 Td (basic ) Tj ET Q q 0 0 0 rg BT 72.63 528.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 108.59 528.30 Td (per ) Tj ET Q q 0 0 0 rg BT 123.45 528.30 Td (common ) Tj ET Q q 0 0 0 rg BT 160.53 528.30 Td (share ) Tj ET Q q 0 0 0 rg BT 183.71 528.30 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.23 528.30 Td (1) Tj ET Q q 0 0 0 rg BT 204.86 528.30 Td (1,341,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.86 528.30 Td ( ) Tj ET Q q 0 0 0 rg BT 246.95 528.30 Td (were ) Tj ET Q q 0 0 0 rg BT 268.46 528.30 Td (used ) Tj ET Q q 0 0 0 rg BT 288.88 528.30 Td (for ) Tj ET Q q 0 0 0 rg BT 302.62 528.30 Td (the ) Tj ET Q q 0 0 0 rg BT 316.92 528.30 Td (diluted ) Tj ET Q q 0 0 0 rg BT 346.78 528.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 382.74 528.30 Td (per ) Tj ET Q q 0 0 0 rg BT 397.60 528.30 Td (common ) Tj ET Q q 0 0 0 rg BT 434.68 528.30 Td (share ) Tj ET Q q 0 0 0 rg BT 457.86 528.30 Td (computation. ) Tj ET Q q 0 0 0 rg BT 512.44 528.30 Td ( ) Tj ET Q q 0 0 0 rg BT 514.52 528.30 Td (For ) Tj ET Q q 0 0 0 rg BT 530.50 528.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.80 528.30 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 516.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 76.58 516.30 Td (December ) Tj ET Q q 0 0 0 rg BT 120.37 516.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 135.58 516.30 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.58 516.30 Td (, ) Tj ET Q q 0 0 0 rg BT 160.78 516.30 Td (there ) Tj ET Q q 0 0 0 rg BT 183.47 516.30 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.61 516.30 Td (8,007,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.61 516.30 Td ( ) Tj ET Q q 0 0 0 rg BT 248.31 516.30 Td (weighted ) Tj ET Q q 0 0 0 rg BT 287.67 516.30 Td (average ) Tj ET Q q 0 0 0 rg BT 321.46 516.30 Td (common ) Tj ET Q q 0 0 0 rg BT 359.16 516.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 386.86 516.30 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 436.23 516.30 Td (used ) Tj ET Q q 0 0 0 rg BT 457.26 516.30 Td (to ) Tj ET Q q 0 0 0 rg BT 467.74 516.30 Td (compute ) Tj ET Q q 0 0 0 rg BT 504.88 516.30 Td (basic ) Tj ET Q q 0 0 0 rg BT 528.13 516.30 Td (earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 504.30 Td (per ) Tj ET Q q 0 0 0 rg BT 65.27 504.30 Td (common ) Tj ET Q q 0 0 0 rg BT 102.76 504.30 Td (share ) Tj ET Q q 0 0 0 rg BT 126.36 504.30 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.30 504.30 Td (10,840,868) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.30 504.30 Td ( ) Tj ET Q q 0 0 0 rg BT 190.80 504.30 Td (used ) Tj ET Q q 0 0 0 rg BT 211.63 504.30 Td (for ) Tj ET Q q 0 0 0 rg BT 225.79 504.30 Td (the ) Tj ET Q q 0 0 0 rg BT 240.51 504.30 Td (diluted ) Tj ET Q q 0 0 0 rg BT 270.78 504.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 307.16 504.30 Td (per ) Tj ET Q q 0 0 0 rg BT 322.43 504.30 Td (common ) Tj ET Q q 0 0 0 rg BT 359.92 504.30 Td (share ) Tj ET Q q 0 0 0 rg BT 383.52 504.30 Td (computation. ) Tj ET Q endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (40) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 740.68505859375 m 178.447265625 740.68505859375 l s q 0 0 0 rg BT 50.00 742.25 Td (V) Tj ET Q q 0 0 0 rg BT 55.93 742.25 Td (. 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j 3 M 415.5 110.75 m 486.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 110.75 m 490.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 110.75 m 561.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 110.75 m 486.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 96.75 m 486.5 96.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 94.75 m 486.5 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 96.75 m 490.5 96.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 94.75 m 490.5 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 110.75 m 561.5 110.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 96.75 m 561.5 96.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 94.75 m 561.5 94.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 710.43 Td (Consolidated Statements of Financial Condition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 679.42 Td (\($ in '000s, except for share and per share data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.40 689.48 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.50 679.48 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.40 689.48 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.50 679.48 Td (2013) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 218.65 662.86259765625 m 245.3150390625 662.86259765625 l s q 0 0 0 rg BT 218.65 664.43 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 649.42 Td (Investments, available for sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 634.42 Td ( Fixed income securities, at fair value \(amortized cost $126,701 and $130,751\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 634.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 634.42 Td (126,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 634.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 634.42 Td (128,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 619.42 Td ( Equity securities, at fair value \(cost $2,220 and $258\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 619.42 Td (2,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 619.42 Td (258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 604.42 Td ( Other investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 604.42 Td (14,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 604.42 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 589.42 Td ( Total Investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 589.42 Td (143,408) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 589.42 Td (130,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 574.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 574.42 Td (36,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 574.42 Td (9,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 559.42 Td (Accrued investment income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 559.42 Td (660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 559.42 Td (694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 544.42 Td (Accounts receivable and other assets \(net of allowance of $560 and $776\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 544.42 Td (49,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 544.42 Td (37,944) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 529.42 Td (Reinsurance recoverables on amounts paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 529.42 Td (2,230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 529.42 Td (1,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 514.42 Td (Reinsurance recoverables on amounts unpaid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 514.42 Td (18,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 514.42 Td (18,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 499.42 Td (Prepaid reinsurance premiums) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 499.42 Td (3,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 499.42 Td (2,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 484.42 Td (Deferred policy acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 484.42 Td (8,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 484.42 Td (6,674) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 469.42 Td (Deferred tax asset, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 469.42 Td (17,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 469.42 Td (9,319) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 454.42 Td (Intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 454.42 Td (740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 454.42 Td (740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 439.42 Td (Software and office equipment, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 439.42 Td (2,819) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 439.42 Td (2,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 424.42 Td (Assets held for sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 424.42 Td (166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 424.42 Td (166) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 409.43 Td ( Total Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 409.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 409.42 Td (283,911) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 409.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 409.42 Td (219,278) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 210.6 380.86259765625 m 253.383203125 380.86259765625 l s q 0 0 0 rg BT 210.60 382.43 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 367.42 Td (Claims liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 367.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 367.42 Td (102,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 367.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 367.42 Td (101,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 352.42 Td (Unearned premiums) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 352.42 Td (58,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 352.42 Td (44,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 337.42 Td (Due to reinsurers and other insurers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 337.42 Td (2,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 337.42 Td (2,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 322.42 Td (Other liabilities and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 322.42 Td (10,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 322.42 Td (7,350) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 307.43 Td ( Total Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 307.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 307.42 Td (174,512) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 307.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 307.42 Td (155,580) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 186.75 278.86259765625005 m 277.228515625 278.86259765625005 l s q 0 0 0 rg BT 186.75 280.43 Td (Shareholders Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 265.42 Td (Preferred shares, par value per share $0.001, 100,000,000 shares authorized, 2,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 255.42 Td (shares issued and outstanding at December 31, 2014 and December 31, 2013. Liquidation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 245.42 Td (value $1.00 per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 245.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 245.42 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 245.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 245.42 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 230.42 Td (Ordinary voting common shares, par value per share $0.003, 266,666,667 shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 220.42 Td (authorized, 11,638,723 shares issued and outstanding at December 31, 2014 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 210.42 Td (9,291,871 shares issued and outstanding at December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 210.42 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 210.42 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 195.42 Td (Restricted voting common shares, par value per share $0.003, 33,333,334 shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 185.42 Td (authorized, 132,863 shares issued and outstanding at December 31, 2014 and December) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 175.42 Td (31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 175.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 175.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 160.42 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 160.42 Td (196,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 160.42 Td (169,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 145.42 Td (Retained deficit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.80 145.47 Td (\(88,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 145.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 145.47 Td (\(106,496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 145.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 130.42 Td (Accumulated other comprehensive income \(loss\), net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 130.42 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 130.47 Td (\(1,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 130.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 115.43 Td ( Total Shareholders Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 115.42 Td (109,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 115.42 Td (63,698) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 100.43 Td ( Total Liabilities and Shareholders Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 100.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 100.42 Td (283,911) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 100.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 100.42 Td (219,278) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (41) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 725.25 Td (Investments ) Tj ET Q q 0 0 0 rg BT 104.17 725.25 Td (Overview ) Tj ET Q q 0 0 0 rg BT 147.76 725.25 Td (and ) Tj ET Q q 0 0 0 rg BT 166.38 725.25 Td (Strategy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 708.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 74.14 708.25 Td (aligns ) Tj ET Q q 0 0 0 rg BT 101.06 708.25 Td (its ) Tj ET Q q 0 0 0 rg BT 113.55 708.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 154.35 708.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 192.38 708.25 Td (to ) Tj ET Q q 0 0 0 rg BT 203.19 708.25 Td (support ) Tj ET Q q 0 0 0 rg BT 236.22 708.25 Td (the ) Tj ET Q q 0 0 0 rg BT 251.47 708.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 291.73 708.25 Td (and ) Tj ET Q q 0 0 0 rg BT 309.20 708.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 350.00 708.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 370.80 708.25 Td (needs ) Tj ET Q q 0 0 0 rg BT 396.60 708.25 Td (of ) Tj ET Q q 0 0 0 rg BT 407.97 708.25 Td (the ) Tj ET Q q 0 0 0 rg BT 423.22 708.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 464.57 708.25 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 517.32 708.25 Td (to ) Tj ET Q q 0 0 0 rg BT 528.13 708.25 Td (preserve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 696.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 79.16 696.25 Td (and ) Tj ET Q q 0 0 0 rg BT 96.11 696.25 Td (to ) Tj ET Q q 0 0 0 rg BT 106.40 696.25 Td (generate ) Tj ET Q q 0 0 0 rg BT 142.77 696.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 189.17 696.25 Td (returns. ) Tj ET Q q 0 0 0 rg BT 221.39 696.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 245.01 696.25 Td (invests ) Tj ET Q q 0 0 0 rg BT 275.30 696.25 Td (predominantly ) Tj ET Q q 0 0 0 rg BT 336.13 696.25 Td (in ) Tj ET Q q 0 0 0 rg BT 346.42 696.25 Td (corporate ) Tj ET Q q 0 0 0 rg BT 386.69 696.25 Td (and ) Tj ET Q q 0 0 0 rg BT 403.64 696.25 Td (government ) Tj ET Q q 0 0 0 rg BT 453.91 696.25 Td (bonds ) Tj ET Q q 0 0 0 rg BT 480.32 696.25 Td (with ) Tj ET Q q 0 0 0 rg BT 500.61 696.25 Td (a ) Tj ET Q q 0 0 0 rg BT 507.56 696.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 538.95 696.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 696.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 684.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 87.67 684.25 Td (in ) Tj ET Q q 0 0 0 rg BT 98.12 684.25 Td (relatively ) Tj ET Q q 0 0 0 rg BT 138.55 684.25 Td (short ) Tj ET Q q 0 0 0 rg BT 161.23 684.25 Td (durations ) Tj ET Q q 0 0 0 rg BT 201.12 684.25 Td (that ) Tj ET Q q 0 0 0 rg BT 218.78 684.25 Td (correlate ) Tj ET Q q 0 0 0 rg BT 256.43 684.25 Td (with ) Tj ET Q q 0 0 0 rg BT 276.88 684.25 Td (the ) Tj ET Q q 0 0 0 rg BT 291.77 684.25 Td (payout ) Tj ET Q q 0 0 0 rg BT 321.66 684.25 Td (patterns ) Tj ET Q q 0 0 0 rg BT 355.99 684.25 Td (of ) Tj ET Q q 0 0 0 rg BT 366.40 684.25 Td (Atlas) Tj ET Q q 0 0 0 rg BT 390.10 684.25 Td ( ) Tj ET Q q 0 0 0 rg BT 392.77 684.25 Td (claims ) Tj ET Q q 0 0 0 rg BT 421.55 684.25 Td (liabilities. ) Tj ET Q q 0 0 0 rg BT 463.35 684.25 Td (A) Tj ET Q q 0 0 0 rg BT 470.02 684.25 Td ( ) Tj ET Q q 0 0 0 rg BT 472.69 684.25 Td (third-party ) Tj ET Q q 0 0 0 rg BT 518.13 684.25 Td (investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 672.25 Td (management ) Tj ET Q q 0 0 0 rg BT 103.13 672.25 Td (firm ) Tj ET Q q 0 0 0 rg BT 122.38 672.25 Td (manages ) Tj ET Q q 0 0 0 rg BT 158.95 672.25 Td (Atlas) Tj ET Q q 0 0 0 rg BT 182.65 672.25 Td ( ) Tj ET Q q 0 0 0 rg BT 184.68 672.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 230.60 672.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 267.63 672.25 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 304.11 672.25 Td (to ) Tj ET Q q 0 0 0 rg BT 313.92 672.25 Td (the ) Tj ET Q q 0 0 0 rg BT 328.17 672.25 Td (Company) Tj ET Q q 0 0 0 rg BT 369.84 672.25 Td (s ) Tj ET Q q 0 0 0 rg BT 375.77 672.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 421.68 672.25 Td (policies ) Tj ET Q q 0 0 0 rg BT 454.82 672.25 Td (and ) Tj ET Q q 0 0 0 rg BT 471.30 672.25 Td (guidelines ) Tj ET Q q 0 0 0 rg BT 514.44 672.25 Td (as ) Tj ET Q q 0 0 0 rg BT 524.80 672.25 Td (approved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 660.25 Td (by ) Tj ET Q q 0 0 0 rg BT 63.24 660.25 Td (its ) Tj ET Q q 0 0 0 rg BT 75.93 660.25 Td (Board ) Tj ET Q q 0 0 0 rg BT 103.60 660.25 Td (of ) Tj ET Q q 0 0 0 rg BT 115.17 660.25 Td (Directors. ) Tj ET Q q 0 0 0 rg BT 158.12 660.25 Td ( ) Tj ET Q q 0 0 0 rg BT 160.64 660.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 184.99 660.25 Td (monitors ) Tj ET Q q 0 0 0 rg BT 223.78 660.25 Td (the ) Tj ET Q q 0 0 0 rg BT 239.24 660.25 Td (third-party ) Tj ET Q q 0 0 0 rg BT 285.24 660.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 332.36 660.25 Td (manager) Tj ET Q q 0 0 0 rg BT 367.16 660.25 Td () Tj ET Q q 0 0 0 rg BT 369.94 660.25 Td (s ) Tj ET Q q 0 0 0 rg BT 377.07 660.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 430.83 660.25 Td (and ) Tj ET Q q 0 0 0 rg BT 448.50 660.25 Td (its ) Tj ET Q q 0 0 0 rg BT 461.19 660.25 Td (compliance ) Tj ET Q q 0 0 0 rg BT 510.52 660.25 Td (with ) Tj ET Q q 0 0 0 rg BT 531.54 660.25 Td (both ) Tj ET Q q 0 0 0 rg BT 552.55 660.25 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 648.25 Td (mandate ) Tj ET Q q 0 0 0 rg BT 86.31 648.25 Td (and ) Tj ET Q q 0 0 0 rg BT 102.66 648.25 Td (Atlas) Tj ET Q q 0 0 0 rg BT 126.35 648.25 Td ( ) Tj ET Q q 0 0 0 rg BT 128.80 648.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 175.12 648.25 Td (policies ) Tj ET Q q 0 0 0 rg BT 208.67 648.25 Td (and ) Tj ET Q q 0 0 0 rg BT 225.55 648.25 Td (guidelines. ) Tj ET Q q 0 0 0 rg BT 271.59 648.25 Td ( ) Tj ET Q q 0 0 0 rg BT 274.04 648.25 Td (In ) Tj ET Q q 0 0 0 rg BT 284.81 648.25 Td (2013, ) Tj ET Q q 0 0 0 rg BT 309.75 648.25 Td (the ) Tj ET Q q 0 0 0 rg BT 324.41 648.25 Td (Board ) Tj ET Q q 0 0 0 rg BT 351.29 648.25 Td (of ) Tj ET Q q 0 0 0 rg BT 362.07 648.25 Td (Directors ) Tj ET Q q 0 0 0 rg BT 401.72 648.25 Td (established ) Tj ET Q q 0 0 0 rg BT 448.59 648.25 Td (an ) Tj ET Q q 0 0 0 rg BT 460.48 648.25 Td (Investment ) Tj ET Q q 0 0 0 rg BT 507.35 648.25 Td (Committee ) Tj ET Q q 0 0 0 rg BT 554.23 648.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 636.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 83.05 636.25 Td (further ) Tj ET Q q 0 0 0 rg BT 112.75 636.25 Td (analysis ) Tj ET Q q 0 0 0 rg BT 147.47 636.25 Td (and ) Tj ET Q q 0 0 0 rg BT 164.41 636.25 Td (guidance ) Tj ET Q q 0 0 0 rg BT 203.00 636.25 Td (in ) Tj ET Q q 0 0 0 rg BT 213.28 636.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 259.65 636.25 Td (with ) Tj ET Q q 0 0 0 rg BT 279.93 636.25 Td (the ) Tj ET Q q 0 0 0 rg BT 294.65 636.25 Td (company's ) Tj ET Q q 0 0 0 rg BT 339.50 636.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 385.88 636.25 Td (activities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.25 Td (Atlas) Tj ET Q q 0 0 0 rg BT 73.70 619.25 Td ( ) Tj ET Q q 0 0 0 rg BT 78.59 619.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 127.37 619.25 Td (guidelines ) Tj ET Q q 0 0 0 rg BT 173.36 619.25 Td (stress ) Tj ET Q q 0 0 0 rg BT 200.48 619.25 Td (the ) Tj ET Q q 0 0 0 rg BT 217.59 619.25 Td (preservation ) Tj ET Q q 0 0 0 rg BT 271.91 619.25 Td (of ) Tj ET Q q 0 0 0 rg BT 285.13 619.25 Td (capital, ) Tj ET Q q 0 0 0 rg BT 319.17 619.25 Td (market ) Tj ET Q q 0 0 0 rg BT 351.83 619.25 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 390.62 619.25 Td (to ) Tj ET Q q 0 0 0 rg BT 403.29 619.25 Td (support ) Tj ET Q q 0 0 0 rg BT 438.18 619.25 Td (payment ) Tj ET Q q 0 0 0 rg BT 477.51 619.25 Td (ofliabilities ) Tj ET Q q 0 0 0 rg BT 530.45 619.25 Td (and ) Tj ET Q q 0 0 0 rg BT 549.78 619.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.25 Td (diversification ) Tj ET Q q 0 0 0 rg BT 109.68 607.25 Td (of ) Tj ET Q q 0 0 0 rg BT 119.92 607.25 Td (risk. ) Tj ET Q q 0 0 0 rg BT 139.20 607.25 Td (W) Tj ET Q q 0 0 0 rg BT 148.24 607.25 Td (ith ) Tj ET Q q 0 0 0 rg BT 160.71 607.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 190.94 607.25 Td (to ) Tj ET Q q 0 0 0 rg BT 200.64 607.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 223.10 607.25 Td (income ) Tj ET Q q 0 0 0 rg BT 254.45 607.25 Td (securities, ) Tj ET Q q 0 0 0 rg BT 296.21 607.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 319.23 607.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 358.35 607.25 Td (purchases ) Tj ET Q q 0 0 0 rg BT 399.70 607.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 439.38 607.25 Td (with ) Tj ET Q q 0 0 0 rg BT 459.07 607.25 Td (the ) Tj ET Q q 0 0 0 rg BT 473.21 607.25 Td (expectation ) Tj ET Q q 0 0 0 rg BT 521.21 607.25 Td (of ) Tj ET Q q 0 0 0 rg BT 531.46 607.25 Td (holding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.25 Td (them ) Tj ET Q q 0 0 0 rg BT 72.50 595.25 Td (to ) Tj ET Q q 0 0 0 rg BT 82.77 595.25 Td (their ) Tj ET Q q 0 0 0 rg BT 103.60 595.25 Td (maturities; ) Tj ET Q q 0 0 0 rg BT 148.87 595.25 Td (however) Tj ET Q q 0 0 0 rg BT 182.90 595.25 Td (, ) Tj ET Q q 0 0 0 rg BT 187.90 595.25 Td (the ) Tj ET Q q 0 0 0 rg BT 202.61 595.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 242.88 595.25 Td (are ) Tj ET Q q 0 0 0 rg BT 257.58 595.25 Td (available ) Tj ET Q q 0 0 0 rg BT 296.17 595.25 Td (for ) Tj ET Q q 0 0 0 rg BT 310.33 595.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 328.38 595.25 Td (if ) Tj ET Q q 0 0 0 rg BT 336.99 595.25 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 373.38 595.25 Td (needs ) Tj ET Q q 0 0 0 rg BT 398.65 595.25 Td (arise. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 578.25 Td (Portfolio ) Tj ET Q q 0 0 0 rg BT 90.26 578.25 Td (Composition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 561.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.76 561.25 Td (held ) Tj ET Q q 0 0 0 rg BT 93.64 561.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 134.06 561.25 Td (with ) Tj ET Q q 0 0 0 rg BT 154.49 561.25 Td (a ) Tj ET Q q 0 0 0 rg BT 161.59 561.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 178.12 561.25 Td (value ) Tj ET Q q 0 0 0 rg BT 202.43 561.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.42 561.25 Td ($143.4 ) Tj ET Q q 0 0 0 rg BT 243.57 561.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.47 561.25 Td ( ) Tj ET Q q 0 0 0 rg BT 275.12 561.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.00 561.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 343.74 561.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.74 561.25 Td (, ) Tj ET Q q 0 0 0 rg BT 368.89 561.25 Td (which ) Tj ET Q q 0 0 0 rg BT 395.99 561.25 Td (was ) Tj ET Q q 0 0 0 rg BT 414.19 561.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 454.06 561.25 Td (comprised ) Tj ET Q q 0 0 0 rg BT 498.37 561.25 Td (of ) Tj ET Q q 0 0 0 rg BT 509.36 561.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 532.56 561.25 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 549.25 Td (securities. ) Tj ET Q q 0 0 0 rg BT 91.87 549.25 Td (The ) Tj ET Q q 0 0 0 rg BT 109.15 549.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 148.65 549.25 Td (held ) Tj ET Q q 0 0 0 rg BT 167.60 549.25 Td (by ) Tj ET Q q 0 0 0 rg BT 179.34 549.25 Td (the ) Tj ET Q q 0 0 0 rg BT 193.29 549.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 233.34 549.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 282.29 549.25 Td (must ) Tj ET Q q 0 0 0 rg BT 303.48 549.25 Td (comply ) Tj ET Q q 0 0 0 rg BT 335.21 549.25 Td (with ) Tj ET Q q 0 0 0 rg BT 354.72 549.25 Td (applicable ) Tj ET Q q 0 0 0 rg BT 397.54 549.25 Td (regulations ) Tj ET Q q 0 0 0 rg BT 443.71 549.25 Td (that ) Tj ET Q q 0 0 0 rg BT 460.44 549.25 Td (prescribe ) Tj ET Q q 0 0 0 rg BT 498.82 549.25 Td (the ) Tj ET Q q 0 0 0 rg BT 512.77 549.25 Td (type, ) Tj ET Q q 0 0 0 rg BT 534.23 549.25 Td (quality ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 537.25 Td (and ) Tj ET Q q 0 0 0 rg BT 67.28 537.25 Td (concentration ) Tj ET Q q 0 0 0 rg BT 124.53 537.25 Td (of ) Tj ET Q q 0 0 0 rg BT 135.70 537.25 Td (securities. ) Tj ET Q q 0 0 0 rg BT 178.60 537.25 Td (These ) Tj ET Q q 0 0 0 rg BT 205.31 537.25 Td (regulations ) Tj ET Q q 0 0 0 rg BT 252.59 537.25 Td (in ) Tj ET Q q 0 0 0 rg BT 263.20 537.25 Td (the ) Tj ET Q q 0 0 0 rg BT 278.26 537.25 Td (various ) Tj ET Q q 0 0 0 rg BT 310.54 537.25 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 362.82 537.25 Td (in ) Tj ET Q q 0 0 0 rg BT 373.43 537.25 Td (which ) Tj ET Q q 0 0 0 rg BT 400.71 537.25 Td (the ) Tj ET Q q 0 0 0 rg BT 415.77 537.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 456.92 537.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 506.97 537.25 Td (are ) Tj ET Q q 0 0 0 rg BT 522.02 537.25 Td (domiciled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 525.25 Td (permit ) Tj ET Q q 0 0 0 rg BT 78.63 525.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 128.94 525.25 Td (in ) Tj ET Q q 0 0 0 rg BT 139.24 525.25 Td (government, ) Tj ET Q q 0 0 0 rg BT 192.04 525.25 Td (state, ) Tj ET Q q 0 0 0 rg BT 215.39 525.25 Td (municipal ) Tj ET Q q 0 0 0 rg BT 257.91 525.25 Td (and ) Tj ET Q q 0 0 0 rg BT 274.88 525.25 Td (corporate ) Tj ET Q q 0 0 0 rg BT 315.16 525.25 Td (bonds, ) Tj ET Q q 0 0 0 rg BT 344.08 525.25 Td (preferred ) Tj ET Q q 0 0 0 rg BT 383.25 525.25 Td (and ) Tj ET Q q 0 0 0 rg BT 400.21 525.25 Td (common ) Tj ET Q q 0 0 0 rg BT 437.74 525.25 Td (equities, ) Tj ET Q q 0 0 0 rg BT 473.87 525.25 Td (and ) Tj ET Q q 0 0 0 rg BT 490.84 525.25 Td (other ) Tj ET Q q 0 0 0 rg BT 513.92 525.25 Td (high ) Tj ET Q q 0 0 0 rg BT 534.22 525.25 Td (quality ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 513.25 Td (investments, ) Tj ET Q q 0 0 0 rg BT 102.77 513.25 Td (within ) Tj ET Q q 0 0 0 rg BT 130.83 513.25 Td (specified ) Tj ET Q q 0 0 0 rg BT 169.42 513.25 Td (limits ) Tj ET Q q 0 0 0 rg BT 194.71 513.25 Td (and ) Tj ET Q q 0 0 0 rg BT 211.65 513.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 242.47 513.25 Td (to ) Tj ET Q q 0 0 0 rg BT 252.75 513.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 282.45 513.25 Td (qualifications. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.25 Td (The ) Tj ET Q q 0 0 0 rg BT 68.21 496.25 Td (amortized ) Tj ET Q q 0 0 0 rg BT 110.84 496.25 Td (cost, ) Tj ET Q q 0 0 0 rg BT 132.11 496.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 155.88 496.25 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 200.18 496.25 Td (gains ) Tj ET Q q 0 0 0 rg BT 223.95 496.25 Td (and ) Tj ET Q q 0 0 0 rg BT 241.05 496.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 267.60 496.25 Td (and ) Tj ET Q q 0 0 0 rg BT 284.69 496.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 301.23 496.25 Td (value ) Tj ET Q q 0 0 0 rg BT 325.54 496.25 Td (for ) Tj ET Q q 0 0 0 rg BT 339.28 496.25 Td (Atlas) Tj ET Q q 0 0 0 rg BT 362.97 496.25 Td ( ) Tj ET Q q 0 0 0 rg BT 365.63 496.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 416.06 496.25 Td (in ) Tj ET Q q 0 0 0 rg BT 426.50 496.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 449.71 496.25 Td (maturities, ) Tj ET Q q 0 0 0 rg BT 494.85 496.25 Td (equity) Tj ET Q q 0 0 0 rg BT 519.20 496.25 Td (, ) Tj ET Q q 0 0 0 rg BT 524.36 496.25 Td (and ) Tj ET Q q 0 0 0 rg BT 541.46 496.25 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 100.27 484.25 Td (by ) Tj ET Q q 0 0 0 rg BT 112.77 484.25 Td (type ) Tj ET Q q 0 0 0 rg BT 132.49 484.25 Td (and ) Tj ET Q q 0 0 0 rg BT 149.43 484.25 Td (sector ) Tj ET Q q 0 0 0 rg BT 175.81 484.25 Td (are ) Tj ET Q q 0 0 0 rg BT 190.51 484.25 Td (as ) Tj ET Q q 0 0 0 rg BT 201.34 484.25 Td (follows ) Tj ET Q q 0 0 0 rg BT 233.84 484.25 Td (\(all ) Tj ET Q q 0 0 0 rg BT 249.67 484.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 286.05 484.25 Td (in ) Tj ET Q q 0 0 0 rg BT 296.33 484.25 Td ('000s\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 72.50 468.75 286.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 468.75 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 468.75 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 468.75 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 468.75 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 72.50 424.75 24.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 96.50 424.75 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 424.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 424.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 424.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 424.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 72.50 394.75 24.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 96.50 394.75 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 394.75 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 394.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 394.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 394.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 394.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 72.50 364.75 24.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 96.50 364.75 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 364.75 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 364.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 364.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 364.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 364.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 72.50 334.75 24.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 96.50 334.75 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 334.75 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 334.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 334.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 334.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 334.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 72.50 304.75 24.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 96.50 304.75 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 304.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 304.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 304.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 304.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 72.50 274.75 24.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 96.50 274.75 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 274.75 244.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 274.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 274.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 274.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 274.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 72.50 244.75 24.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 96.50 244.75 262.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 244.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 244.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 244.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 244.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 72.50 214.75 286.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 214.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 214.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 214.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 214.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 72.50 184.75 286.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 184.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.50 184.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 184.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 184.75 45.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 468.75 m 403.5 468.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 439.75 m 403.5 439.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 468.75 m 448.5 468.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 439.75 m 448.5 439.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 468.75 m 493.5 468.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 439.75 m 493.5 439.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 468.75 m 538.5 468.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 439.75 m 538.5 439.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 304.75 m 403.5 304.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 289.75 m 403.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 304.75 m 448.5 304.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 289.75 m 448.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 304.75 m 493.5 304.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 289.75 m 493.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 304.75 m 538.5 304.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 289.75 m 538.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 289.75 m 403.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 289.75 m 448.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 289.75 m 493.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 289.75 m 538.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 259.75 m 403.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 259.75 m 448.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 259.75 m 493.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 259.75 m 538.5 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 244.75 m 403.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 244.75 m 448.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 244.75 m 493.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 244.75 m 538.5 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 229.75 m 403.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 229.75 m 448.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 229.75 m 493.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 229.75 m 538.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 229.75 m 403.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 229.75 m 448.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 229.75 m 493.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 229.75 m 538.5 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 184.75 m 403.5 184.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 184.75 m 448.5 184.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 184.75 m 493.5 184.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 184.75 m 538.5 184.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 170.75 m 403.5 170.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 168.75 m 403.5 168.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 170.75 m 448.5 170.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 168.75 m 448.5 168.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 170.75 m 493.5 170.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 168.75 m 493.5 168.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 170.75 m 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0 rg BT 372.70 723.73 Td (Cost) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.55 739.73 Td (Gross) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.90 731.73 Td (Unrealized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 415.45 723.73 Td (Gains) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.55 739.73 Td (Gross) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.90 731.73 Td (Unrealized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.35 723.73 Td (Losses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 508.20 731.73 Td (Fair) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 505.85 723.73 Td (Value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 709.17 Td (Fixed Income:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 694.17 Td (U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 694.17 Td (Government) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 694.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.10 694.17 Td (22,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.00 694.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 694.17 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 694.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 694.17 Td (620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 694.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.10 694.17 Td (21,483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 679.17 Td (Corporate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 664.17 Td (Banking/financial services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.10 664.17 Td (16,655) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 664.17 Td (238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 664.17 Td (247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.10 664.17 Td (16,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 649.17 Td (Consumer goods) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 649.17 Td (5,044) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 649.17 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 649.17 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 649.17 Td (4,995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 634.17 Td (Capital goods) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.10 634.17 Td (12,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 634.17 Td (208) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 634.17 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.10 634.17 Td (12,979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 619.17 Td (Energy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 619.17 Td (3,928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 619.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 619.17 Td (114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 619.17 Td (3,814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 604.17 Td (Telecommunications/utilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 604.17 Td (4,979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 604.17 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 604.17 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 604.17 Td (4,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 589.17 Td (Health care) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 589.17 Td (2,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 589.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 589.17 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 589.17 Td (1,938) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 574.17 Td (Total Corporate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.10 574.17 Td (45,582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 574.17 Td (524) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 574.17 Td (760) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.10 574.17 Td (45,346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 559.17 Td (Mortgage backed - agency) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.10 559.17 Td (28,877) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 559.17 Td (120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 559.17 Td (910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.10 559.17 Td (28,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 544.17 Td (Mortgage backed - commercial) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.10 544.17 Td (22,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 544.17 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 544.17 Td (614) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.10 544.17 Td (21,570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 529.17 Td (Total Mortgage Backed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.10 529.17 Td (51,008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 529.17 Td (173) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 529.17 Td (1,524) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.10 529.17 Td (49,657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 514.17 Td (Other asset backed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.10 514.17 Td (12,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 514.17 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 514.17 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.10 514.17 Td (12,099) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 499.17 Td (Total Fixed Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 499.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.10 499.17 Td (130,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.00 499.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 499.17 Td (748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 499.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 499.17 Td (2,913) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 499.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.10 499.17 Td (128,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 484.17 Td (Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 484.17 Td (258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 484.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 484.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 484.17 Td (258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 469.17 Td (Other investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 469.17 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 469.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 469.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.15 469.17 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 454.17 Td (Totals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 454.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.10 454.17 Td (132,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.00 454.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 454.17 Td (748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 454.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 454.17 Td (2,913) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 454.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.10 454.17 Td (130,077) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 433.00 Td (Liquidity and Cash Flow Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 416.00 Td (The ) Tj ET Q q 0 0 0 rg BT 68.21 416.00 Td (following ) Tj ET Q q 0 0 0 rg BT 109.75 416.00 Td (table ) Tj ET Q q 0 0 0 rg BT 131.85 416.00 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 182.27 416.00 Td (the ) Tj ET Q q 0 0 0 rg BT 197.15 416.00 Td (fair ) Tj ET Q q 0 0 0 rg BT 213.69 416.00 Td (value ) Tj ET Q q 0 0 0 rg BT 238.00 416.00 Td (by ) Tj ET Q q 0 0 0 rg BT 250.66 416.00 Td (contractual ) Tj ET Q q 0 0 0 rg BT 297.74 416.00 Td (maturities ) Tj ET Q q 0 0 0 rg BT 340.39 416.00 Td (of ) Tj ET Q q 0 0 0 rg BT 351.38 416.00 Td (the ) Tj ET Q q 0 0 0 rg BT 366.26 416.00 Td (fixed ) Tj ET Q q 0 0 0 rg BT 389.46 416.00 Td (income ) Tj ET Q q 0 0 0 rg BT 421.56 416.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 461.98 416.00 Td (portfolio, ) Tj ET Q q 0 0 0 rg BT 502.14 416.00 Td (excluding ) Tj ET Q q 0 0 0 rg BT 544.23 416.00 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 404.00 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 404.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 87.21 404.00 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 137.75 404.00 Td (at ) Tj ET Q q 0 0 0 rg BT 147.47 404.00 Td (the ) Tj ET Q q 0 0 0 rg BT 162.18 404.00 Td (dates ) Tj ET Q q 0 0 0 rg BT 185.23 404.00 Td (indicated. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 379.25 Td (Fair) Tj ET Q q 0 0 0 rg BT 68.14 379.25 Td ( ) Tj ET Q q 0 0 0 rg BT 70.46 379.25 Td (V) Tj ET Q q 0 0 0 rg BT 76.77 379.25 Td (alue of Fixed Income Securities by Contractual Maturity Date \($ in '000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 373.50 302.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 373.50 100.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 373.50 10.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 373.50 100.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 349.50 302.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 349.50 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 349.50 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 349.50 10.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 349.50 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 349.50 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 325.50 302.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 325.50 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 325.50 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 325.50 10.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 325.50 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 325.50 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 301.50 302.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 301.50 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 301.50 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 301.50 10.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 301.50 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 301.50 50.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 373.5 m 402.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 361.5 m 402.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 373.5 m 452.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 361.5 m 452.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 373.5 m 462.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 361.5 m 462.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 373.5 m 512.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 361.5 m 512.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 373.5 m 562.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 361.5 m 562.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 349.5 m 462.5 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 349.5 m 512.5 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 349.5 m 562.5 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 349.5 m 402.5 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 349.5 m 452.5 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 349.5 m 462.5 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 349.5 m 512.5 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 349.5 m 562.5 349.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 301.5 m 402.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 301.5 m 452.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 301.5 m 462.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 301.5 m 512.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 301.5 m 562.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 301.5 m 402.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 290.5 m 402.5 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 288.5 m 402.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 301.5 m 452.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 290.5 m 452.5 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 288.5 m 452.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 301.5 m 462.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 290.5 m 462.5 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 288.5 m 462.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 301.5 m 512.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 290.5 m 512.5 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 288.5 m 512.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 301.5 m 562.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 290.5 m 562.5 290.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 288.5 m 562.5 288.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 364.23 Td (At December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.00 364.23 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.00 364.23 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.45 352.23 Td (Amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.00 352.23 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.45 352.23 Td (Amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.00 352.23 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 340.12 Td (Due in less than one year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.00 340.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.15 340.12 Td (1,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 340.12 Td (1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 340.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 340.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 340.12 Td (7,571) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 340.12 Td (5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 340.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 328.12 Td (Due in one through five years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 328.12 Td (54,349) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 328.12 Td (42.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 328.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 328.12 Td (43,693) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 328.12 Td (34.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 328.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 316.12 Td (Due after five through ten years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 316.12 Td (23,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 316.12 Td (18.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 316.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 316.12 Td (28,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 316.12 Td (21.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 316.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 304.12 Td (Due after ten years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 304.12 Td (47,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 304.12 Td (37.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 304.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 304.12 Td (49,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 304.12 Td (38.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 304.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 292.12 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.00 292.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.10 292.12 Td (126,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 292.12 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 292.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 292.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.10 292.12 Td (128,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 292.12 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 292.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 273.00 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.77 273.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 121.62 273.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.62 273.00 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.89 273.00 Td (44.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.72 273.00 Td ( ) Tj ET Q q 0 0 0 rg BT 175.48 273.00 Td (of ) Tj ET Q q 0 0 0 rg BT 186.58 273.00 Td (the ) Tj ET Q q 0 0 0 rg BT 201.57 273.00 Td (fixed ) Tj ET Q q 0 0 0 rg BT 224.88 273.00 Td (income ) Tj ET Q q 0 0 0 rg BT 257.08 273.00 Td (securities, ) Tj ET Q q 0 0 0 rg BT 300.11 273.00 Td (including ) Tj ET Q q 0 0 0 rg BT 340.65 273.00 Td (treasury ) Tj ET Q q 0 0 0 rg BT 375.63 273.00 Td (bills, ) Tj ET Q q 0 0 0 rg BT 398.12 273.00 Td (bankers) Tj ET Q q 0 0 0 rg BT 431.81 273.00 Td ( ) Tj ET Q q 0 0 0 rg BT 434.58 273.00 Td (acceptances, ) Tj ET Q q 0 0 0 rg BT 487.58 273.00 Td (government ) Tj ET Q q 0 0 0 rg BT 538.12 273.00 Td (bonds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 261.00 Td (and ) Tj ET Q q 0 0 0 rg BT 67.62 261.00 Td (corporate ) Tj ET Q q 0 0 0 rg BT 108.55 261.00 Td (bonds ) Tj ET Q q 0 0 0 rg BT 135.62 261.00 Td (had ) Tj ET Q q 0 0 0 rg BT 153.24 261.00 Td (contractual ) Tj ET Q q 0 0 0 rg BT 200.84 261.00 Td (maturities ) Tj ET Q q 0 0 0 rg BT 244.01 261.00 Td (of ) Tj ET Q q 0 0 0 rg BT 255.52 261.00 Td (five ) Tj ET Q q 0 0 0 rg BT 274.25 261.00 Td (years ) Tj ET Q q 0 0 0 rg BT 298.53 261.00 Td (or ) Tj ET Q q 0 0 0 rg BT 310.04 261.00 Td (less. ) Tj ET Q q 0 0 0 rg BT 330.72 261.00 Td ( ) Tj ET Q q 0 0 0 rg BT 333.20 261.00 Td (Actual ) Tj ET Q q 0 0 0 rg BT 363.03 261.00 Td (maturities ) Tj ET Q q 0 0 0 rg BT 406.20 261.00 Td (may ) Tj ET Q q 0 0 0 rg BT 426.60 261.00 Td (dif) Tj ET Q q 0 0 0 rg BT 437.53 261.00 Td (fer ) Tj ET Q q 0 0 0 rg BT 451.81 261.00 Td (from ) Tj ET Q q 0 0 0 rg BT 474.43 261.00 Td (contractual ) Tj ET Q q 0 0 0 rg BT 522.02 261.00 Td (maturities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 249.00 Td (because ) Tj ET Q q 0 0 0 rg BT 84.10 249.00 Td (certain ) Tj ET Q q 0 0 0 rg BT 113.76 249.00 Td (issuers ) Tj ET Q q 0 0 0 rg BT 143.43 249.00 Td (have ) Tj ET Q q 0 0 0 rg BT 164.77 249.00 Td (the ) Tj ET Q q 0 0 0 rg BT 179.44 249.00 Td (right ) Tj ET Q q 0 0 0 rg BT 200.78 249.00 Td (to ) Tj ET Q q 0 0 0 rg BT 211.01 249.00 Td (call ) Tj ET Q q 0 0 0 rg BT 227.90 249.00 Td (or ) Tj ET Q q 0 0 0 rg BT 238.69 249.00 Td (prepay ) Tj ET Q q 0 0 0 rg BT 268.35 249.00 Td (obligations ) Tj ET Q q 0 0 0 rg BT 315.25 249.00 Td (with ) Tj ET Q q 0 0 0 rg BT 335.48 249.00 Td (or ) Tj ET Q q 0 0 0 rg BT 346.27 249.00 Td (without ) Tj ET Q q 0 0 0 rg BT 379.28 249.00 Td (call ) Tj ET Q q 0 0 0 rg BT 396.17 249.00 Td (or ) Tj ET Q q 0 0 0 rg BT 406.95 249.00 Td (prepayment ) Tj ET Q q 0 0 0 rg BT 456.61 249.00 Td (penalties. ) Tj ET Q q 0 0 0 rg BT 496.56 249.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 520.13 249.00 Td (holds ) Tj ET Q q 0 0 0 rg BT 544.25 249.00 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.00 Td (and ) Tj ET Q q 0 0 0 rg BT 67.03 237.00 Td (high ) Tj ET Q q 0 0 0 rg BT 87.40 237.00 Td (grade ) Tj ET Q q 0 0 0 rg BT 112.19 237.00 Td (short-term ) Tj ET Q q 0 0 0 rg BT 156.44 237.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 182.36 237.00 Td (which, ) Tj ET Q q 0 0 0 rg BT 211.88 237.00 Td (along ) Tj ET Q q 0 0 0 rg BT 236.69 237.00 Td (with ) Tj ET Q q 0 0 0 rg BT 257.06 237.00 Td (fixed ) Tj ET Q q 0 0 0 rg BT 280.19 237.00 Td (income ) Tj ET Q q 0 0 0 rg BT 312.22 237.00 Td (security ) Tj ET Q q 0 0 0 rg BT 346.46 237.00 Td (maturities, ) Tj ET Q q 0 0 0 rg BT 391.54 237.00 Td (management ) Tj ET Q q 0 0 0 rg BT 445.22 237.00 Td (believes ) Tj ET Q q 0 0 0 rg BT 480.57 237.00 Td (are ) Tj ET Q q 0 0 0 rg BT 495.37 237.00 Td (suf) Tj ET Q q 0 0 0 rg BT 507.41 237.00 Td (ficient ) Tj ET Q q 0 0 0 rg BT 535.54 237.00 Td (for ) Tj ET Q q 0 0 0 rg BT 549.79 237.00 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.00 Td (payment ) Tj ET Q q 0 0 0 rg BT 86.14 225.00 Td (of ) Tj ET Q q 0 0 0 rg BT 96.18 225.00 Td (claims ) Tj ET Q q 0 0 0 rg BT 123.99 225.00 Td (on ) Tj ET Q q 0 0 0 rg BT 135.69 225.00 Td (a ) Tj ET Q q 0 0 0 rg BT 141.84 225.00 Td (timely ) Tj ET Q q 0 0 0 rg BT 169.10 225.00 Td (basis. ) Tj ET Q q 0 0 0 rg BT 193.30 225.00 Td (In ) Tj ET Q q 0 0 0 rg BT 203.34 225.00 Td (the ) Tj ET Q q 0 0 0 rg BT 217.26 225.00 Td (event ) Tj ET Q q 0 0 0 rg BT 240.63 225.00 Td (that ) Tj ET Q q 0 0 0 rg BT 257.33 225.00 Td (additional ) Tj ET Q q 0 0 0 rg BT 299.02 225.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 318.50 225.00 Td (is ) Tj ET Q q 0 0 0 rg BT 326.88 225.00 Td (required ) Tj ET Q q 0 0 0 rg BT 361.90 225.00 Td (to ) Tj ET Q q 0 0 0 rg BT 371.38 225.00 Td (meet ) Tj ET Q q 0 0 0 rg BT 392.52 225.00 Td (obligations ) Tj ET Q q 0 0 0 rg BT 438.67 225.00 Td (to ) Tj ET Q q 0 0 0 rg BT 448.16 225.00 Td (policyholders, ) Tj ET Q q 0 0 0 rg BT 506.42 225.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 529.24 225.00 Td (believes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.00 Td (that ) Tj ET Q q 0 0 0 rg BT 66.62 213.00 Td (high ) Tj ET Q q 0 0 0 rg BT 86.03 213.00 Td (quality ) Tj ET Q q 0 0 0 rg BT 115.43 213.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 154.82 213.00 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 191.45 213.00 Td (provides ) Tj ET Q q 0 0 0 rg BT 227.51 213.00 Td (us ) Tj ET Q q 0 0 0 rg BT 238.03 213.00 Td (with ) Tj ET Q q 0 0 0 rg BT 257.44 213.00 Td (suf) Tj ET Q q 0 0 0 rg BT 269.48 213.00 Td (ficient ) Tj ET Q q 0 0 0 rg BT 296.65 213.00 Td (liquidity) Tj ET Q q 0 0 0 rg BT 329.90 213.00 Td (. ) Tj ET Q q 0 0 0 rg BT 333.91 213.00 Td (W) Tj ET Q q 0 0 0 rg BT 342.94 213.00 Td (ith ) Tj ET Q q 0 0 0 rg BT 355.13 213.00 Td (a ) Tj ET Q q 0 0 0 rg BT 361.20 213.00 Td (weighted ) Tj ET Q q 0 0 0 rg BT 399.48 213.00 Td (contractual ) Tj ET Q q 0 0 0 rg BT 445.53 213.00 Td (duration ) Tj ET Q q 0 0 0 rg BT 480.48 213.00 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.44 213.00 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.94 213.00 Td ( ) Tj ET Q q 0 0 0 rg BT 504.57 213.00 Td (years, ) Tj ET Q q 0 0 0 rg BT 529.79 213.00 Td (changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.00 Td (in ) Tj ET Q q 0 0 0 rg BT 60.00 201.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 91.67 201.00 Td (rates ) Tj ET Q q 0 0 0 rg BT 112.77 201.00 Td (will ) Tj ET Q q 0 0 0 rg BT 130.55 201.00 Td (have ) Tj ET Q q 0 0 0 rg BT 151.66 201.00 Td (a ) Tj ET Q q 0 0 0 rg BT 158.32 201.00 Td (modest ) Tj ET Q q 0 0 0 rg BT 189.43 201.00 Td (market ) Tj ET Q q 0 0 0 rg BT 219.42 201.00 Td (value ) Tj ET Q q 0 0 0 rg BT 243.31 201.00 Td (impact ) Tj ET Q q 0 0 0 rg BT 272.74 201.00 Td (on ) Tj ET Q q 0 0 0 rg BT 284.97 201.00 Td (the ) Tj ET Q q 0 0 0 rg BT 298.92 201.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 322.26 201.00 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 359.48 201.00 Td (relative ) Tj ET Q q 0 0 0 rg BT 391.69 201.00 Td (to ) Tj ET Q q 0 0 0 rg BT 401.69 201.00 Td (longer ) Tj ET Q q 0 0 0 rg BT 429.46 201.00 Td (duration ) Tj ET Q q 0 0 0 rg BT 465.02 201.00 Td (portfolios. ) Tj ET Q q 0 0 0 rg BT 508.14 201.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 531.47 201.00 Td (can ) Tj ET Q q 0 0 0 rg BT 547.58 201.00 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 189.00 Td (typically ) Tj ET Q q 0 0 0 rg BT 87.49 189.00 Td (does ) Tj ET Q q 0 0 0 rg BT 108.32 189.00 Td (hold ) Tj ET Q q 0 0 0 rg BT 128.60 189.00 Td (bonds ) Tj ET Q q 0 0 0 rg BT 154.99 189.00 Td (to ) Tj ET Q q 0 0 0 rg BT 165.27 189.00 Td (maturity ) Tj ET Q q 0 0 0 rg BT 201.65 189.00 Td (by ) Tj ET Q q 0 0 0 rg BT 214.15 189.00 Td (matching ) Tj ET Q q 0 0 0 rg BT 253.86 189.00 Td (duration ) Tj ET Q q 0 0 0 rg BT 289.69 189.00 Td (with ) Tj ET Q q 0 0 0 rg BT 309.97 189.00 Td (the ) Tj ET Q q 0 0 0 rg BT 324.68 189.00 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 371.05 189.00 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 407.44 189.00 Td (needs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 172.00 Td (Market Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.00 Td (Market ) Tj ET Q q 0 0 0 rg BT 80.86 155.00 Td (risk ) Tj ET Q q 0 0 0 rg BT 97.85 155.00 Td (is ) Tj ET Q q 0 0 0 rg BT 106.51 155.00 Td (the ) Tj ET Q q 0 0 0 rg BT 120.71 155.00 Td (risk ) Tj ET Q q 0 0 0 rg BT 137.70 155.00 Td (that ) Tj ET Q q 0 0 0 rg BT 154.24 155.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 177.34 155.00 Td (will ) Tj ET Q q 0 0 0 rg BT 194.88 155.00 Td (incur ) Tj ET Q q 0 0 0 rg BT 217.42 155.00 Td (losses ) Tj ET Q q 0 0 0 rg BT 243.30 155.00 Td (due ) Tj ET Q q 0 0 0 rg BT 259.72 155.00 Td (to ) Tj ET Q q 0 0 0 rg BT 269.49 155.00 Td (adverse ) Tj ET Q q 0 0 0 rg BT 302.01 155.00 Td (changes ) Tj ET Q q 0 0 0 rg BT 336.21 155.00 Td (in ) Tj ET Q q 0 0 0 rg BT 345.97 155.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 377.39 155.00 Td (rates, ) Tj ET Q q 0 0 0 rg BT 400.76 155.00 Td (currency ) Tj ET Q q 0 0 0 rg BT 437.72 155.00 Td (exchange ) Tj ET Q q 0 0 0 rg BT 477.46 155.00 Td (rates ) Tj ET Q q 0 0 0 rg BT 498.33 155.00 Td (or ) Tj ET Q q 0 0 0 rg BT 508.64 155.00 Td (equity ) Tj ET Q q 0 0 0 rg BT 535.63 155.00 Td (prices. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.00 Td (Having ) Tj ET Q q 0 0 0 rg BT 81.06 143.00 Td (disposed ) Tj ET Q q 0 0 0 rg BT 117.68 143.00 Td (of ) Tj ET Q q 0 0 0 rg BT 127.63 143.00 Td (a ) Tj ET Q q 0 0 0 rg BT 133.69 143.00 Td (majority ) Tj ET Q q 0 0 0 rg BT 169.19 143.00 Td (of ) Tj ET Q q 0 0 0 rg BT 179.15 143.00 Td (its ) Tj ET Q q 0 0 0 rg BT 190.21 143.00 Td (asset ) Tj ET Q q 0 0 0 rg BT 211.27 143.00 Td (backed ) Tj ET Q q 0 0 0 rg BT 241.21 143.00 Td (securities, ) Tj ET Q q 0 0 0 rg BT 283.10 143.00 Td (its ) Tj ET Q q 0 0 0 rg BT 294.17 143.00 Td (primary ) Tj ET Q q 0 0 0 rg BT 327.44 143.00 Td (market ) Tj ET Q q 0 0 0 rg BT 356.83 143.00 Td (risk ) Tj ET Q q 0 0 0 rg BT 373.45 143.00 Td (exposure ) Tj ET Q q 0 0 0 rg BT 411.17 143.00 Td (in ) Tj ET Q q 0 0 0 rg BT 420.57 143.00 Td (the ) Tj ET Q q 0 0 0 rg BT 434.40 143.00 Td (fixed ) Tj ET Q q 0 0 0 rg BT 456.57 143.00 Td (income ) Tj ET Q q 0 0 0 rg BT 487.63 143.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 527.01 143.00 Td (portfolio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.00 Td (is ) Tj ET Q q 0 0 0 rg BT 58.76 131.00 Td (to ) Tj ET Q q 0 0 0 rg BT 68.63 131.00 Td (changes ) Tj ET Q q 0 0 0 rg BT 102.93 131.00 Td (in ) Tj ET Q q 0 0 0 rg BT 112.80 131.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 144.33 131.00 Td (rates. ) Tj ET Q q 0 0 0 rg BT 167.80 131.00 Td (Because ) Tj ET Q q 0 0 0 rg BT 202.74 131.00 Td (Atlas) Tj ET Q q 0 0 0 rg BT 226.44 131.00 Td ( ) Tj ET Q q 0 0 0 rg BT 228.53 131.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 268.39 131.00 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 305.48 131.00 Td (is ) Tj ET Q q 0 0 0 rg BT 314.24 131.00 Td (comprised ) Tj ET Q q 0 0 0 rg BT 357.99 131.00 Td (of ) Tj ET Q q 0 0 0 rg BT 368.41 131.00 Td (primarily ) Tj ET Q q 0 0 0 rg BT 407.71 131.00 Td (fixed ) Tj ET Q q 0 0 0 rg BT 430.35 131.00 Td (income ) Tj ET Q q 0 0 0 rg BT 461.88 131.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 501.73 131.00 Td (that ) Tj ET Q q 0 0 0 rg BT 518.82 131.00 Td (are ) Tj ET Q q 0 0 0 rg BT 533.12 131.00 Td (usually ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.00 Td (held ) Tj ET Q q 0 0 0 rg BT 69.56 119.00 Td (to ) Tj ET Q q 0 0 0 rg BT 79.68 119.00 Td (maturity) Tj ET Q q 0 0 0 rg BT 112.91 119.00 Td (, ) Tj ET Q q 0 0 0 rg BT 117.76 119.00 Td (periodic ) Tj ET Q q 0 0 0 rg BT 152.86 119.00 Td (changes ) Tj ET Q q 0 0 0 rg BT 187.41 119.00 Td (in ) Tj ET Q q 0 0 0 rg BT 197.53 119.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 229.31 119.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 246.64 119.00 Td (levels ) Tj ET Q q 0 0 0 rg BT 272.31 119.00 Td (generally ) Tj ET Q q 0 0 0 rg BT 311.85 119.00 Td (impact ) Tj ET Q q 0 0 0 rg BT 341.41 119.00 Td (its ) Tj ET Q q 0 0 0 rg BT 353.20 119.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 390.52 119.00 Td (results ) Tj ET Q q 0 0 0 rg BT 418.97 119.00 Td (to ) Tj ET Q q 0 0 0 rg BT 429.09 119.00 Td (the ) Tj ET Q q 0 0 0 rg BT 443.65 119.00 Td (extent ) Tj ET Q q 0 0 0 rg BT 470.43 119.00 Td (that ) Tj ET Q q 0 0 0 rg BT 487.77 119.00 Td (the ) Tj ET Q q 0 0 0 rg BT 502.33 119.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 542.43 119.00 Td (in ) Tj ET Q q 0 0 0 rg BT 552.55 119.00 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.00 Td (available ) Tj ET Q q 0 0 0 rg BT 88.78 107.00 Td (for ) Tj ET Q q 0 0 0 rg BT 103.13 107.00 Td (sale ) Tj ET Q q 0 0 0 rg BT 121.37 107.00 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 159.06 107.00 Td (are ) Tj ET Q q 0 0 0 rg BT 173.96 107.00 Td (recorded ) Tj ET Q q 0 0 0 rg BT 211.63 107.00 Td (at ) Tj ET Q q 0 0 0 rg BT 221.54 107.00 Td (market ) Tj ET Q q 0 0 0 rg BT 252.00 107.00 Td (value. ) Tj ET Q q 0 0 0 rg BT 278.85 107.00 Td (During ) Tj ET Q q 0 0 0 rg BT 309.87 107.00 Td (periods ) Tj ET Q q 0 0 0 rg BT 342.00 107.00 Td (of ) Tj ET Q q 0 0 0 rg BT 353.02 107.00 Td (rising ) Tj ET Q q 0 0 0 rg BT 378.49 107.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 410.62 107.00 Td (rates, ) Tj ET Q q 0 0 0 rg BT 434.69 107.00 Td (the ) Tj ET Q q 0 0 0 rg BT 449.60 107.00 Td (market ) Tj ET Q q 0 0 0 rg BT 480.06 107.00 Td (value ) Tj ET Q q 0 0 0 rg BT 504.40 107.00 Td (of ) Tj ET Q q 0 0 0 rg BT 515.43 107.00 Td (the ) Tj ET Q q 0 0 0 rg BT 530.34 107.00 Td (existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.00 Td (fixed ) Tj ET Q q 0 0 0 rg BT 73.10 95.00 Td (income ) Tj ET Q q 0 0 0 rg BT 105.09 95.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 145.41 95.00 Td (will ) Tj ET Q q 0 0 0 rg BT 163.53 95.00 Td (generally ) Tj ET Q q 0 0 0 rg BT 203.28 95.00 Td (decrease ) Tj ET Q q 0 0 0 rg BT 240.25 95.00 Td (and ) Tj ET Q q 0 0 0 rg BT 257.25 95.00 Td (realized ) Tj ET Q q 0 0 0 rg BT 291.45 95.00 Td (gains ) Tj ET Q q 0 0 0 rg BT 315.11 95.00 Td (on ) Tj ET Q q 0 0 0 rg BT 327.67 95.00 Td (fixed ) Tj ET Q q 0 0 0 rg BT 350.77 95.00 Td (income ) Tj ET Q q 0 0 0 rg BT 382.76 95.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 423.08 95.00 Td (will ) Tj ET Q q 0 0 0 rg BT 441.19 95.00 Td (likely ) Tj ET Q q 0 0 0 rg BT 466.52 95.00 Td (be ) Tj ET Q q 0 0 0 rg BT 478.52 95.00 Td (reduced. ) Tj ET Q q 0 0 0 rg BT 515.03 95.00 Td (The ) Tj ET Q q 0 0 0 rg BT 533.14 95.00 Td (reverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.00 Td (is ) Tj ET Q q 0 0 0 rg BT 59.17 83.00 Td (true ) Tj ET Q q 0 0 0 rg BT 77.22 83.00 Td (during ) Tj ET Q q 0 0 0 rg BT 105.83 83.00 Td (periods ) Tj ET Q q 0 0 0 rg BT 137.76 83.00 Td (of ) Tj ET Q q 0 0 0 rg BT 148.59 83.00 Td (declining ) Tj ET Q q 0 0 0 rg BT 188.31 83.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 220.24 83.00 Td (rates. ) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Cr) Tj ET Q q 0 0 0 rg BT 61.48 742.25 Td (edit ) Tj ET Q q 0 0 0 rg BT 80.09 742.25 Td (Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 725.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 76.77 725.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 93.55 725.25 Td (is ) Tj ET Q q 0 0 0 rg BT 101.99 725.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 133.76 725.25 Td (as ) Tj ET Q q 0 0 0 rg BT 143.86 725.25 Td (the ) Tj ET Q q 0 0 0 rg BT 157.86 725.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 174.63 725.25 Td (of ) Tj ET Q q 0 0 0 rg BT 184.74 725.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 221.50 725.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 238.83 725.25 Td (due ) Tj ET Q q 0 0 0 rg BT 255.05 725.25 Td (to ) Tj ET Q q 0 0 0 rg BT 264.60 725.25 Td (failure ) Tj ET Q q 0 0 0 rg BT 292.47 725.25 Td (of ) Tj ET Q q 0 0 0 rg BT 302.58 725.25 Td (the ) Tj ET Q q 0 0 0 rg BT 316.57 725.25 Td (other ) Tj ET Q q 0 0 0 rg BT 338.90 725.25 Td (party ) Tj ET Q q 0 0 0 rg BT 361.22 725.25 Td (to ) Tj ET Q q 0 0 0 rg BT 370.77 725.25 Td (a ) Tj ET Q q 0 0 0 rg BT 376.99 725.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 413.75 725.25 Td (instrument ) Tj ET Q q 0 0 0 rg BT 458.29 725.25 Td (to ) Tj ET Q q 0 0 0 rg BT 467.85 725.25 Td (dischar) Tj ET Q q 0 0 0 rg BT 496.55 725.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 507.76 725.25 Td (an ) Tj ET Q q 0 0 0 rg BT 518.98 725.25 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 564.53 725.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 713.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.93 713.25 Td (is ) Tj ET Q q 0 0 0 rg BT 83.42 713.25 Td (exposed ) Tj ET Q q 0 0 0 rg BT 119.01 713.25 Td (to ) Tj ET Q q 0 0 0 rg BT 129.61 713.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 155.20 713.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 173.02 713.25 Td (principally ) Tj ET Q q 0 0 0 rg BT 219.17 713.25 Td (through ) Tj ET Q q 0 0 0 rg BT 253.10 713.25 Td (its ) Tj ET Q q 0 0 0 rg BT 265.37 713.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 315.96 713.25 Td (and ) Tj ET Q q 0 0 0 rg BT 333.22 713.25 Td (balances ) Tj ET Q q 0 0 0 rg BT 370.47 713.25 Td (receivable ) Tj ET Q q 0 0 0 rg BT 414.37 713.25 Td (from ) Tj ET Q q 0 0 0 rg BT 436.63 713.25 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 493.89 713.25 Td (and ) Tj ET Q q 0 0 0 rg BT 511.15 713.25 Td (reinsurers. ) Tj ET Q q 0 0 0 rg BT 555.90 713.25 Td (It ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 701.25 Td (monitors ) Tj ET Q q 0 0 0 rg BT 87.90 701.25 Td (concentration ) Tj ET Q q 0 0 0 rg BT 144.65 701.25 Td (and ) Tj ET Q q 0 0 0 rg BT 161.43 701.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 186.53 701.25 Td (quality ) Tj ET Q q 0 0 0 rg BT 216.65 701.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 233.98 701.25 Td (through ) Tj ET Q q 0 0 0 rg BT 267.43 701.25 Td (policies ) Tj ET Q q 0 0 0 rg BT 300.87 701.25 Td (designed ) Tj ET Q q 0 0 0 rg BT 338.76 701.25 Td (to ) Tj ET Q q 0 0 0 rg BT 348.88 701.25 Td (limit ) Tj ET Q q 0 0 0 rg BT 370.11 701.25 Td (and ) Tj ET Q q 0 0 0 rg BT 386.88 701.25 Td (monitor ) Tj ET Q q 0 0 0 rg BT 420.89 701.25 Td (its ) Tj ET Q q 0 0 0 rg BT 432.68 701.25 Td (exposure ) Tj ET Q q 0 0 0 rg BT 471.11 701.25 Td (to ) Tj ET Q q 0 0 0 rg BT 481.23 701.25 Td (individual ) Tj ET Q q 0 0 0 rg BT 524.12 701.25 Td (issuers ) Tj ET Q q 0 0 0 rg BT 553.68 701.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 689.25 Td (related ) Tj ET Q q 0 0 0 rg BT 79.86 689.25 Td (groups ) Tj ET Q q 0 0 0 rg BT 109.75 689.25 Td (\(with ) Tj ET Q q 0 0 0 rg BT 133.52 689.25 Td (the ) Tj ET Q q 0 0 0 rg BT 148.40 689.25 Td (exception ) Tj ET Q q 0 0 0 rg BT 189.93 689.25 Td (of ) Tj ET Q q 0 0 0 rg BT 200.93 689.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 221.37 689.25 Td (government ) Tj ET Q q 0 0 0 rg BT 271.80 689.25 Td (bonds\) ) Tj ET Q q 0 0 0 rg BT 301.68 689.25 Td (as ) Tj ET Q q 0 0 0 rg BT 312.68 689.25 Td (well ) Tj ET Q q 0 0 0 rg BT 332.56 689.25 Td (as ) Tj ET Q q 0 0 0 rg BT 343.55 689.25 Td (through ) Tj ET Q q 0 0 0 rg BT 377.32 689.25 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 412.76 689.25 Td (review ) Tj ET Q q 0 0 0 rg BT 442.63 689.25 Td (of ) Tj ET Q q 0 0 0 rg BT 453.62 689.25 Td (the ) Tj ET Q q 0 0 0 rg BT 468.50 689.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 493.93 689.25 Td (ratings ) Tj ET Q q 0 0 0 rg BT 523.81 689.25 Td (of ) Tj ET Q q 0 0 0 rg BT 534.80 689.25 Td (issuers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 677.25 Td (in ) Tj ET Q q 0 0 0 rg BT 60.31 677.25 Td (the ) Tj ET Q q 0 0 0 rg BT 75.07 677.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 115.37 677.25 Td (portfolio. ) Tj ET Q q 0 0 0 rg BT 155.40 677.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 182.93 677.25 Td (exposure ) Tj ET Q q 0 0 0 rg BT 221.57 677.25 Td (to ) Tj ET Q q 0 0 0 rg BT 231.88 677.25 Td (any ) Tj ET Q q 0 0 0 rg BT 248.86 677.25 Td (one ) Tj ET Q q 0 0 0 rg BT 265.83 677.25 Td (individual ) Tj ET Q q 0 0 0 rg BT 308.92 677.25 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 362.00 677.25 Td (is ) Tj ET Q q 0 0 0 rg BT 371.21 677.25 Td (not ) Tj ET Q q 0 0 0 rg BT 386.52 677.25 Td (material. ) Tj ET Q q 0 0 0 rg BT 424.13 677.25 Td (The ) Tj ET Q q 0 0 0 rg BT 442.22 677.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 489.33 677.25 Td (policies, ) Tj ET Q q 0 0 0 rg BT 525.47 677.25 Td (however) Tj ET Q q 0 0 0 rg BT 559.50 677.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 665.25 Td (are ) Tj ET Q q 0 0 0 rg BT 64.33 665.25 Td (distributed ) Tj ET Q q 0 0 0 rg BT 109.23 665.25 Td (by ) Tj ET Q q 0 0 0 rg BT 121.35 665.25 Td (agents ) Tj ET Q q 0 0 0 rg BT 149.02 665.25 Td (who ) Tj ET Q q 0 0 0 rg BT 168.36 665.25 Td (may ) Tj ET Q q 0 0 0 rg BT 187.70 665.25 Td (manage ) Tj ET Q q 0 0 0 rg BT 220.92 665.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 240.81 665.25 Td (collection ) Tj ET Q q 0 0 0 rg BT 282.36 665.25 Td (on ) Tj ET Q q 0 0 0 rg BT 294.49 665.25 Td (its ) Tj ET Q q 0 0 0 rg BT 306.06 665.25 Td (behalf ) Tj ET Q q 0 0 0 rg BT 333.17 665.25 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 369.73 665.25 Td (to ) Tj ET Q q 0 0 0 rg BT 379.63 665.25 Td (the ) Tj ET Q q 0 0 0 rg BT 393.97 665.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 418.31 665.25 Td (of ) Tj ET Q q 0 0 0 rg BT 428.76 665.25 Td (their ) Tj ET Q q 0 0 0 rg BT 449.21 665.25 Td (agency ) Tj ET Q q 0 0 0 rg BT 479.65 665.25 Td (agreement. ) Tj ET Q q 0 0 0 rg BT 525.44 665.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 548.68 665.25 Td (has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 653.25 Td (policies ) Tj ET Q q 0 0 0 rg BT 82.46 653.25 Td (to ) Tj ET Q q 0 0 0 rg BT 91.59 653.25 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 126.26 653.25 Td (the ) Tj ET Q q 0 0 0 rg BT 139.83 653.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 176.16 653.25 Td (condition ) Tj ET Q q 0 0 0 rg BT 215.29 653.25 Td (of ) Tj ET Q q 0 0 0 rg BT 224.98 653.25 Td (its ) Tj ET Q q 0 0 0 rg BT 235.78 653.25 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 276.56 653.25 Td (and ) Tj ET Q q 0 0 0 rg BT 292.36 653.25 Td (monitors ) Tj ET Q q 0 0 0 rg BT 329.27 653.25 Td (concentrations ) Tj ET Q q 0 0 0 rg BT 388.94 653.25 Td (of ) Tj ET Q q 0 0 0 rg BT 398.62 653.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 422.74 653.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 439.09 653.25 Td (arising ) Tj ET Q q 0 0 0 rg BT 467.67 653.25 Td (from ) Tj ET Q q 0 0 0 rg BT 488.46 653.25 Td (similar ) Tj ET Q q 0 0 0 rg BT 517.59 653.25 Td (geographic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.25 Td (regions, ) Tj ET Q q 0 0 0 rg BT 85.10 641.25 Td (activities, ) Tj ET Q q 0 0 0 rg BT 126.87 641.25 Td (or ) Tj ET Q q 0 0 0 rg BT 138.37 641.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 180.41 641.25 Td (characteristics ) Tj ET Q q 0 0 0 rg BT 240.76 641.25 Td (of ) Tj ET Q q 0 0 0 rg BT 252.26 641.25 Td (the ) Tj ET Q q 0 0 0 rg BT 267.64 641.25 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 310.23 641.25 Td (to ) Tj ET Q q 0 0 0 rg BT 321.18 641.25 Td (minimize ) Tj ET Q q 0 0 0 rg BT 362.11 641.25 Td (its ) Tj ET Q q 0 0 0 rg BT 374.73 641.25 Td (exposure ) Tj ET Q q 0 0 0 rg BT 413.99 641.25 Td (to ) Tj ET Q q 0 0 0 rg BT 424.94 641.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 470.32 641.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 497.38 641.25 Td (from ) Tj ET Q q 0 0 0 rg BT 519.98 641.25 Td (reinsurers) Tj ET Q q 0 0 0 rg BT 562.00 641.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.25 Td (insolvency) Tj ET Q q 0 0 0 rg BT 92.68 629.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 612.25 Td (The ) Tj ET Q q 0 0 0 rg BT 68.57 612.25 Td (following ) Tj ET Q q 0 0 0 rg BT 110.47 612.25 Td (table ) Tj ET Q q 0 0 0 rg BT 132.93 612.25 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 183.71 612.25 Td (the ) Tj ET Q q 0 0 0 rg BT 198.95 612.25 Td (composition ) Tj ET Q q 0 0 0 rg BT 251.41 612.25 Td (of ) Tj ET Q q 0 0 0 rg BT 262.76 612.25 Td (the ) Tj ET Q q 0 0 0 rg BT 278.00 612.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 294.90 612.25 Td (value ) Tj ET Q q 0 0 0 rg BT 319.57 612.25 Td (of ) Tj ET Q q 0 0 0 rg BT 330.92 612.25 Td (the ) Tj ET Q q 0 0 0 rg BT 346.16 612.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 369.72 612.25 Td (income ) Tj ET Q q 0 0 0 rg BT 402.18 612.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 442.96 612.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 480.98 612.25 Td (\(excluding ) Tj ET Q q 0 0 0 rg BT 526.76 612.25 Td (the ) Tj ET Q q 0 0 0 rg BT 542.00 612.25 Td (bond ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 600.25 Td (which ) Tj ET Q q 0 0 0 rg BT 76.73 600.25 Td (has ) Tj ET Q q 0 0 0 rg BT 92.36 600.25 Td (been ) Tj ET Q q 0 0 0 rg BT 113.53 600.25 Td (classified ) Tj ET Q q 0 0 0 rg BT 153.59 600.25 Td (in ) Tj ET Q q 0 0 0 rg BT 163.67 600.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 188.73 600.25 Td (3 ) Tj ET Q q 0 0 0 rg BT 196.03 600.25 Td (within ) Tj ET Q q 0 0 0 rg BT 223.88 600.25 Td (the ) Tj ET Q q 0 0 0 rg BT 238.39 600.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 254.57 600.25 Td (value ) Tj ET Q q 0 0 0 rg BT 278.52 600.25 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 318.57 600.25 Td (in ) Tj ET Q q 0 0 0 rg BT 328.64 600.25 Td (2013\), ) Tj ET Q q 0 0 0 rg BT 356.77 600.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 398.50 600.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 418.56 600.25 Td (and ) Tj ET Q q 0 0 0 rg BT 435.30 600.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 455.36 600.25 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 505.70 600.25 Td (as ) Tj ET Q q 0 0 0 rg BT 516.33 600.25 Td (of ) Tj ET Q q 0 0 0 rg BT 526.95 600.25 Td (the ) Tj ET Q q 0 0 0 rg BT 541.47 600.25 Td (dates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 588.25 Td (indicated, ) Tj ET Q q 0 0 0 rg BT 92.59 588.25 Td (by ) Tj ET Q q 0 0 0 rg BT 106.04 588.25 Td (ratings ) Tj ET Q q 0 0 0 rg BT 136.70 588.25 Td (assigned ) Tj ET Q q 0 0 0 rg BT 174.58 588.25 Td (by ) Tj ET Q q 0 0 0 rg BT 188.02 588.25 Td (Fitch, ) Tj ET Q q 0 0 0 rg BT 214.53 588.25 Td (S&P) Tj ET Q q 0 0 0 rg BT 233.06 588.25 Td ( ) Tj ET Q q 0 0 0 rg BT 236.50 588.25 Td (or ) Tj ET Q q 0 0 0 rg BT 248.27 588.25 Td (Moody) Tj ET Q q 0 0 0 rg BT 279.94 588.25 Td (s ) Tj ET Q q 0 0 0 rg BT 287.28 588.25 Td (Investors ) Tj ET Q q 0 0 0 rg BT 327.38 588.25 Td (Service. ) Tj ET Q q 0 0 0 rg BT 363.06 588.25 Td (The ) Tj ET Q q 0 0 0 rg BT 382.05 588.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 406.04 588.25 Td (income ) Tj ET Q q 0 0 0 rg BT 438.92 588.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 480.13 588.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 518.57 588.25 Td (consists ) Tj ET Q q 0 0 0 rg BT 553.68 588.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 576.25 Td (predominantly ) Tj ET Q q 0 0 0 rg BT 111.32 576.25 Td (very ) Tj ET Q q 0 0 0 rg BT 132.08 576.25 Td (high ) Tj ET Q q 0 0 0 rg BT 152.86 576.25 Td (quality ) Tj ET Q q 0 0 0 rg BT 183.63 576.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 224.39 576.25 Td (in ) Tj ET Q q 0 0 0 rg BT 235.17 576.25 Td (corporate ) Tj ET Q q 0 0 0 rg BT 275.92 576.25 Td (and ) Tj ET Q q 0 0 0 rg BT 293.35 576.25 Td (government ) Tj ET Q q 0 0 0 rg BT 344.11 576.25 Td (bonds ) Tj ET Q q 0 0 0 rg BT 371.00 576.25 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.78 576.25 Td (87.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.61 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 420.60 576.25 Td (rated ) Tj ET Q q 0 0 0 rg BT 443.59 576.25 Td (A) Tj ET Q q 0 0 0 rg BT 453.03 576.25 Td () Tj ET Q q 0 0 0 rg BT 455.62 576.25 Td ( ) Tj ET Q q 0 0 0 rg BT 458.61 576.25 Td (or ) Tj ET Q q 0 0 0 rg BT 469.94 576.25 Td (better ) Tj ET Q q 0 0 0 rg BT 495.70 576.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 576.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 564.25 Td ( ) Tj ET Q q 0 0 0 rg BT 72.50 564.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 114.42 564.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.70 564.25 Td (88.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.53 564.25 Td ( ) Tj ET Q q 0 0 0 rg BT 153.03 564.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.75 564.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 221.33 564.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.33 564.25 Td (. ) Tj ET Q q 0 0 0 rg BT 246.33 564.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 539.50 Td (Cr) Tj ET Q q 0 0 0 rg BT 61.48 539.50 Td (edit Ratings of Fixed Income Securities Portfolio \($ in '000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 533.75 302.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 533.75 100.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 533.75 10.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 533.75 100.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 501.75 302.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 501.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 501.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 501.75 10.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 501.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 501.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 477.75 302.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 477.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 477.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 477.75 10.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 477.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 477.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 453.75 302.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 453.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 453.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 453.75 10.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 453.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 453.75 50.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 533.75 m 402.5 533.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 521.75 m 402.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 533.75 m 452.5 533.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 521.75 m 452.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 533.75 m 462.5 533.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 521.75 m 462.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 533.75 m 512.5 533.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 521.75 m 512.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 533.75 m 562.5 533.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 521.75 m 562.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 501.75 m 462.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 501.75 m 512.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 501.75 m 562.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 501.75 m 402.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 501.75 m 452.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 501.75 m 462.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 501.75 m 512.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 501.75 m 562.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 453.75 m 402.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 453.75 m 512.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 453.75 m 402.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 442.75 m 402.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 440.75 m 402.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 453.75 m 452.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 442.75 m 452.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 440.75 m 452.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 453.75 m 462.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 442.75 m 462.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 440.75 m 462.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 453.75 m 512.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 442.75 m 512.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 440.75 m 512.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 453.75 m 562.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 442.75 m 562.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 440.75 m 562.5 440.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 524.48 Td (At December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.00 524.48 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.00 524.48 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.45 506.43 Td (Amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.55 512.48 Td (% of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.05 502.53 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.45 506.43 Td (Amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.55 512.48 Td (% of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.05 502.53 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 492.37 Td (AAA/Aaa) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.00 492.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 492.37 Td (77,856) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 492.37 Td (61.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 492.37 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 492.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 492.37 Td (76,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 492.37 Td (59.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 492.37 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 480.37 Td (AA/Aa) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 480.37 Td (10,897) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 480.37 Td (8.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 480.37 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 480.37 Td (12,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 480.37 Td (10.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 480.37 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 468.37 Td (A/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 468.37 Td (22,206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 468.37 Td (17.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 468.37 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 468.37 Td (23,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 468.37 Td (18.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 468.37 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 456.37 Td (BBB/Baa) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.15 456.37 Td (15,990) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.15 456.37 Td (12.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 456.37 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 456.37 Td (14,995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 456.37 Td (11.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 456.37 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 444.37 Td (Total Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.00 444.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.10 444.37 Td (126,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 444.37 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 444.37 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 444.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.10 444.37 Td (127,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 444.37 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 444.37 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 425.25 Td (Other) Tj ET Q q 0 0 0 rg BT 75.18 425.25 Td (-than-temporary impairment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.85 408.25 Td (recognizes ) Tj ET Q q 0 0 0 rg BT 119.35 408.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 145.99 408.25 Td (on ) Tj ET Q q 0 0 0 rg BT 158.73 408.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 199.24 408.25 Td (for ) Tj ET Q q 0 0 0 rg BT 213.64 408.25 Td (which ) Tj ET Q q 0 0 0 rg BT 240.83 408.25 Td (a ) Tj ET Q q 0 0 0 rg BT 248.01 408.25 Td (decline ) Tj ET Q q 0 0 0 rg BT 279.62 408.25 Td (in ) Tj ET Q q 0 0 0 rg BT 290.15 408.25 Td (market ) Tj ET Q q 0 0 0 rg BT 320.65 408.25 Td (value ) Tj ET Q q 0 0 0 rg BT 345.05 408.25 Td (was ) Tj ET Q q 0 0 0 rg BT 363.35 408.25 Td (deemed ) Tj ET Q q 0 0 0 rg BT 397.19 408.25 Td (to ) Tj ET Q q 0 0 0 rg BT 407.71 408.25 Td (be ) Tj ET Q q 0 0 0 rg BT 419.89 408.25 Td (other) Tj ET Q q 0 0 0 rg BT 440.24 408.25 Td (-than-temporary) Tj ET Q q 0 0 0 rg BT 504.56 408.25 Td (. ) Tj ET Q q 0 0 0 rg BT 509.80 408.25 Td (Management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.25 Td (performs ) Tj ET Q q 0 0 0 rg BT 88.85 396.25 Td (a ) Tj ET Q q 0 0 0 rg BT 96.03 396.25 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 134.87 396.25 Td (analysis ) Tj ET Q q 0 0 0 rg BT 169.83 396.25 Td (of ) Tj ET Q q 0 0 0 rg BT 180.91 396.25 Td (the ) Tj ET Q q 0 0 0 rg BT 195.87 396.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 236.38 396.25 Td (holdings ) Tj ET Q q 0 0 0 rg BT 273.58 396.25 Td (to ) Tj ET Q q 0 0 0 rg BT 284.10 396.25 Td (determine ) Tj ET Q q 0 0 0 rg BT 326.83 396.25 Td (if ) Tj ET Q q 0 0 0 rg BT 335.69 396.25 Td (declines ) Tj ET Q q 0 0 0 rg BT 371.20 396.25 Td (in ) Tj ET Q q 0 0 0 rg BT 381.72 396.25 Td (market ) Tj ET Q q 0 0 0 rg BT 412.23 396.25 Td (value ) Tj ET Q q 0 0 0 rg BT 436.63 396.25 Td (are ) Tj ET Q q 0 0 0 rg BT 451.59 396.25 Td (other) Tj ET Q q 0 0 0 rg BT 471.93 396.25 Td (-than-temporary) Tj ET Q q 0 0 0 rg BT 536.25 396.25 Td (. ) Tj ET Q q 0 0 0 rg BT 540.90 396.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 564.50 396.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.25 Td (did ) Tj ET Q q 0 0 0 rg BT 65.30 384.25 Td (not ) Tj ET Q q 0 0 0 rg BT 80.60 384.25 Td (recognize ) Tj ET Q q 0 0 0 rg BT 121.99 384.25 Td (any ) Tj ET Q q 0 0 0 rg BT 138.95 384.25 Td (char) Tj ET Q q 0 0 0 rg BT 155.98 384.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 171.83 384.25 Td (that ) Tj ET Q q 0 0 0 rg BT 189.35 384.25 Td (were ) Tj ET Q q 0 0 0 rg BT 211.30 384.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 257.14 384.25 Td (other) Tj ET Q q 0 0 0 rg BT 277.49 384.25 Td (-than-temporary ) Tj ET Q q 0 0 0 rg BT 344.98 384.25 Td (for ) Tj ET Q q 0 0 0 rg BT 359.17 384.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.91 384.25 Td (year ) Tj ET Q q 0 0 0 rg BT 393.64 384.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 420.04 384.25 Td (December ) Tj ET Q q 0 0 0 rg BT 463.64 384.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 478.67 384.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.67 384.25 Td ( ) Tj ET Q q 0 0 0 rg BT 501.19 384.25 Td (and ) Tj ET Q q 0 0 0 rg BT 518.15 384.25 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.25 Td (char) Tj ET Q q 0 0 0 rg BT 67.03 372.25 Td (ges ) Tj ET Q q 0 0 0 rg BT 82.86 372.25 Td (of ) Tj ET Q q 0 0 0 rg BT 93.69 372.25 Td ($31) Tj ET Q q 0 0 0 rg BT 108.32 372.25 Td (1,000 ) Tj ET Q q 0 0 0 rg BT 133.32 372.25 Td (for ) Tj ET Q q 0 0 0 rg BT 147.48 372.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 187.74 372.25 Td (impairments ) Tj ET Q q 0 0 0 rg BT 240.23 372.25 Td (for ) Tj ET Q q 0 0 0 rg BT 254.39 372.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.11 372.25 Td (year ) Tj ET Q q 0 0 0 rg BT 288.81 372.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 315.19 372.25 Td (December ) Tj ET Q q 0 0 0 rg BT 358.77 372.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 373.77 372.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.77 372.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.49 355.25 Td (length ) Tj ET Q q 0 0 0 rg BT 94.42 355.25 Td (of ) Tj ET Q q 0 0 0 rg BT 104.69 355.25 Td (time ) Tj ET Q q 0 0 0 rg BT 124.41 355.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 164.11 355.25 Td (may ) Tj ET Q q 0 0 0 rg BT 183.27 355.25 Td (be ) Tj ET Q q 0 0 0 rg BT 194.65 355.25 Td (held ) Tj ET Q q 0 0 0 rg BT 213.81 355.25 Td (in ) Tj ET Q q 0 0 0 rg BT 223.53 355.25 Td (an ) Tj ET Q q 0 0 0 rg BT 234.91 355.25 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 278.49 355.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 295.99 355.25 Td (position ) Tj ET Q q 0 0 0 rg BT 330.16 355.25 Td (may ) Tj ET Q q 0 0 0 rg BT 349.32 355.25 Td (vary ) Tj ET Q q 0 0 0 rg BT 369.03 355.25 Td (based ) Tj ET Q q 0 0 0 rg BT 393.74 355.25 Td (on ) Tj ET Q q 0 0 0 rg BT 405.68 355.25 Td (the ) Tj ET Q q 0 0 0 rg BT 419.83 355.25 Td (opinion ) Tj ET Q q 0 0 0 rg BT 452.33 355.25 Td (of ) Tj ET Q q 0 0 0 rg BT 462.60 355.25 Td (the ) Tj ET Q q 0 0 0 rg BT 476.76 355.25 Td (appointed ) Tj ET Q q 0 0 0 rg BT 518.13 355.25 Td (investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.25 Td (manager ) Tj ET Q q 0 0 0 rg BT 86.64 343.25 Td (and ) Tj ET Q q 0 0 0 rg BT 103.30 343.25 Td (their ) Tj ET Q q 0 0 0 rg BT 123.85 343.25 Td (respective ) Tj ET Q q 0 0 0 rg BT 166.60 343.25 Td (analyses ) Tj ET Q q 0 0 0 rg BT 202.70 343.25 Td (related ) Tj ET Q q 0 0 0 rg BT 232.12 343.25 Td (to ) Tj ET Q q 0 0 0 rg BT 242.12 343.25 Td (valuation ) Tj ET Q q 0 0 0 rg BT 281.55 343.25 Td (and ) Tj ET Q q 0 0 0 rg BT 298.21 343.25 Td (to ) Tj ET Q q 0 0 0 rg BT 308.21 343.25 Td (the ) Tj ET Q q 0 0 0 rg BT 322.65 343.25 Td (various ) Tj ET Q q 0 0 0 rg BT 354.31 343.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 379.29 343.25 Td (risks ) Tj ET Q q 0 0 0 rg BT 400.41 343.25 Td (that ) Tj ET Q q 0 0 0 rg BT 417.62 343.25 Td (may ) Tj ET Q q 0 0 0 rg BT 437.06 343.25 Td (prevent ) Tj ET Q q 0 0 0 rg BT 469.27 343.25 Td (us ) Tj ET Q q 0 0 0 rg BT 480.38 343.25 Td (from ) Tj ET Q q 0 0 0 rg BT 502.04 343.25 Td (recapturing ) Tj ET Q q 0 0 0 rg BT 549.79 343.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 87.87 331.25 Td (investment. ) Tj ET Q q 0 0 0 rg BT 136.58 331.25 Td (In ) Tj ET Q q 0 0 0 rg BT 147.24 331.25 Td (cases ) Tj ET Q q 0 0 0 rg BT 170.67 331.25 Td (of ) Tj ET Q q 0 0 0 rg BT 181.32 331.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 221.42 331.25 Td (with ) Tj ET Q q 0 0 0 rg BT 241.52 331.25 Td (a ) Tj ET Q q 0 0 0 rg BT 248.29 331.25 Td (maturity ) Tj ET Q q 0 0 0 rg BT 284.50 331.25 Td (date ) Tj ET Q q 0 0 0 rg BT 303.48 331.25 Td (where ) Tj ET Q q 0 0 0 rg BT 330.24 331.25 Td (the ) Tj ET Q q 0 0 0 rg BT 344.78 331.25 Td (appointed ) Tj ET Q q 0 0 0 rg BT 386.54 331.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 432.75 331.25 Td (manager ) Tj ET Q q 0 0 0 rg BT 469.51 331.25 Td (determines ) Tj ET Q q 0 0 0 rg BT 515.71 331.25 Td (that ) Tj ET Q q 0 0 0 rg BT 533.03 331.25 Td (there ) Tj ET Q q 0 0 0 rg BT 555.34 331.25 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.25 Td (little ) Tj ET Q q 0 0 0 rg BT 71.02 319.25 Td (or ) Tj ET Q q 0 0 0 rg BT 82.05 319.25 Td (no ) Tj ET Q q 0 0 0 rg BT 94.74 319.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 112.44 319.25 Td (of ) Tj ET Q q 0 0 0 rg BT 123.46 319.25 Td (default ) Tj ET Q q 0 0 0 rg BT 153.92 319.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 176.05 319.25 Td (to ) Tj ET Q q 0 0 0 rg BT 186.53 319.25 Td (the ) Tj ET Q q 0 0 0 rg BT 201.44 319.25 Td (maturity ) Tj ET Q q 0 0 0 rg BT 238.01 319.25 Td (of ) Tj ET Q q 0 0 0 rg BT 249.04 319.25 Td (a ) Tj ET Q q 0 0 0 rg BT 256.17 319.25 Td (holding, ) Tj ET Q q 0 0 0 rg BT 291.33 319.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 315.13 319.25 Td (would ) Tj ET Q q 0 0 0 rg BT 342.82 319.25 Td (elect ) Tj ET Q q 0 0 0 rg BT 364.39 319.25 Td (to ) Tj ET Q q 0 0 0 rg BT 374.86 319.25 Td (hold ) Tj ET Q q 0 0 0 rg BT 395.33 319.25 Td (the ) Tj ET Q q 0 0 0 rg BT 410.25 319.25 Td (security ) Tj ET Q q 0 0 0 rg BT 444.60 319.25 Td (in ) Tj ET Q q 0 0 0 rg BT 455.07 319.25 Td (an ) Tj ET Q q 0 0 0 rg BT 467.20 319.25 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 511.54 319.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 529.79 319.25 Td (position ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.25 Td (until ) Tj ET Q q 0 0 0 rg BT 71.75 307.25 Td (the ) Tj ET Q q 0 0 0 rg BT 87.38 307.25 Td (price ) Tj ET Q q 0 0 0 rg BT 110.78 307.25 Td (recovers ) Tj ET Q q 0 0 0 rg BT 148.06 307.25 Td (or ) Tj ET Q q 0 0 0 rg BT 159.80 307.25 Td (the ) Tj ET Q q 0 0 0 rg BT 175.43 307.25 Td (security ) Tj ET Q q 0 0 0 rg BT 210.50 307.25 Td (matures. ) Tj ET Q q 0 0 0 rg BT 248.07 307.25 Td (In ) Tj ET Q q 0 0 0 rg BT 259.81 307.25 Td (situations ) Tj ET Q q 0 0 0 rg BT 301.56 307.25 Td (where ) Tj ET Q q 0 0 0 rg BT 329.40 307.25 Td (facts ) Tj ET Q q 0 0 0 rg BT 351.69 307.25 Td (emer) Tj ET Q q 0 0 0 rg BT 371.49 307.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 384.35 307.25 Td (that ) Tj ET Q q 0 0 0 rg BT 402.75 307.25 Td (might ) Tj ET Q q 0 0 0 rg BT 429.50 307.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 465.67 307.25 Td (the ) Tj ET Q q 0 0 0 rg BT 481.30 307.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 499.71 307.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 544.22 307.25 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.25 Td (recapture ) Tj ET Q q 0 0 0 rg BT 89.87 295.25 Td (of ) Tj ET Q q 0 0 0 rg BT 100.88 295.25 Td (principal, ) Tj ET Q q 0 0 0 rg BT 141.00 295.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 164.79 295.25 Td (may ) Tj ET Q q 0 0 0 rg BT 184.68 295.25 Td (elect ) Tj ET Q q 0 0 0 rg BT 206.23 295.25 Td (to ) Tj ET Q q 0 0 0 rg BT 216.69 295.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 233.25 295.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 273.69 295.25 Td (at ) Tj ET Q q 0 0 0 rg BT 283.59 295.25 Td (a ) Tj ET Q q 0 0 0 rg BT 290.70 295.25 Td (loss. ) Tj ET Q q 0 0 0 rg BT 310.85 295.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 334.64 295.25 Td (had ) Tj ET Q q 0 0 0 rg BT 351.75 295.25 Td (no ) Tj ET Q q 0 0 0 rg BT 364.43 295.25 Td (material ) Tj ET Q q 0 0 0 rg BT 399.87 295.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 423.66 295.25 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 467.97 295.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 494.54 295.25 Td (in ) Tj ET Q q 0 0 0 rg BT 505.00 295.25 Td (its ) Tj ET Q q 0 0 0 rg BT 517.12 295.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 554.80 295.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.58 283.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 283.25 Td ( ) Tj ET Q q 0 0 0 rg BT 131.08 283.25 Td (or ) Tj ET Q q 0 0 0 rg BT 141.91 283.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.63 283.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 210.21 283.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.21 283.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 264.45 Td (Estimated ) Tj ET Q q 0 0 0 rg BT 95.83 264.45 Td (impact ) Tj ET Q q 0 0 0 rg BT 127.77 264.45 Td (of ) Tj ET Q q 0 0 0 rg BT 138.60 264.45 Td (changes ) Tj ET Q q 0 0 0 rg BT 174.99 264.45 Td (in ) Tj ET Q q 0 0 0 rg BT 185.83 264.45 Td (inter) Tj ET Q q 0 0 0 rg BT 206.20 264.45 Td (est ) Tj ET Q q 0 0 0 rg BT 220.36 264.45 Td (rates ) Tj ET Q q 0 0 0 rg BT 243.96 264.45 Td (and ) Tj ET Q q 0 0 0 rg BT 262.58 264.45 Td (securities ) Tj ET Q q 0 0 0 rg BT 305.06 264.45 Td (prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.45 Td (For ) Tj ET Q q 0 0 0 rg BT 65.42 247.45 Td (Atlas) Tj ET Q q 0 0 0 rg BT 89.11 247.45 Td ( ) Tj ET Q q 0 0 0 rg BT 91.07 247.45 Td (available-for) Tj ET Q q 0 0 0 rg BT 141.95 247.45 Td (-sale ) Tj ET Q q 0 0 0 rg BT 162.78 247.45 Td (fixed ) Tj ET Q q 0 0 0 rg BT 185.28 247.45 Td (income ) Tj ET Q q 0 0 0 rg BT 216.67 247.45 Td (securities ) Tj ET Q q 0 0 0 rg BT 256.39 247.45 Td (held ) Tj ET Q q 0 0 0 rg BT 275.56 247.45 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.73 247.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 342.77 247.45 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.77 247.45 Td (, ) Tj ET Q q 0 0 0 rg BT 367.23 247.45 Td (a ) Tj ET Q q 0 0 0 rg BT 373.62 247.45 Td (100 ) Tj ET Q q 0 0 0 rg BT 390.58 247.45 Td (basis ) Tj ET Q q 0 0 0 rg BT 412.53 247.45 Td (point ) Tj ET Q q 0 0 0 rg BT 435.05 247.45 Td (increase ) Tj ET Q q 0 0 0 rg BT 469.76 247.45 Td (in ) Tj ET Q q 0 0 0 rg BT 479.49 247.45 Td (interest ) Tj ET Q q 0 0 0 rg BT 510.88 247.45 Td (rates ) Tj ET Q q 0 0 0 rg BT 531.71 247.45 Td (on ) Tj ET Q q 0 0 0 rg BT 543.67 247.45 Td (such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.45 Td (held ) Tj ET Q q 0 0 0 rg BT 69.85 235.45 Td (fixed ) Tj ET Q q 0 0 0 rg BT 93.04 235.45 Td (income ) Tj ET Q q 0 0 0 rg BT 125.10 235.45 Td (securities ) Tj ET Q q 0 0 0 rg BT 165.50 235.45 Td (would ) Tj ET Q q 0 0 0 rg BT 193.14 235.45 Td (have ) Tj ET Q q 0 0 0 rg BT 214.65 235.45 Td (increased ) Tj ET Q q 0 0 0 rg BT 255.04 235.45 Td (net ) Tj ET Q q 0 0 0 rg BT 269.89 235.45 Td (investment ) Tj ET Q q 0 0 0 rg BT 316.41 235.45 Td (income ) Tj ET Q q 0 0 0 rg BT 348.48 235.45 Td (and ) Tj ET Q q 0 0 0 rg BT 365.56 235.45 Td (income ) Tj ET Q q 0 0 0 rg BT 397.63 235.45 Td (before ) Tj ET Q q 0 0 0 rg BT 425.80 235.45 Td (taxes ) Tj ET Q q 0 0 0 rg BT 448.98 235.45 Td (by ) Tj ET Q q 0 0 0 rg BT 461.62 235.45 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.01 235.45 Td ($100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.51 235.45 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.45 Td (Conversely) Tj ET Q q 0 0 0 rg BT 94.90 223.45 Td (, ) Tj ET Q q 0 0 0 rg BT 99.29 223.45 Td (a ) Tj ET Q q 0 0 0 rg BT 105.61 223.45 Td (100 ) Tj ET Q q 0 0 0 rg BT 122.50 223.45 Td (basis ) Tj ET Q q 0 0 0 rg BT 144.39 223.45 Td (point ) Tj ET Q q 0 0 0 rg BT 166.84 223.45 Td (decrease ) Tj ET Q q 0 0 0 rg BT 203.14 223.45 Td (in ) Tj ET Q q 0 0 0 rg BT 212.81 223.45 Td (interest ) Tj ET Q q 0 0 0 rg BT 244.13 223.45 Td (rates ) Tj ET Q q 0 0 0 rg BT 264.89 223.45 Td (on ) Tj ET Q q 0 0 0 rg BT 276.78 223.45 Td (such ) Tj ET Q q 0 0 0 rg BT 297.00 223.45 Td (held ) Tj ET Q q 0 0 0 rg BT 316.11 223.45 Td (fixed ) Tj ET Q q 0 0 0 rg BT 338.54 223.45 Td (income ) Tj ET Q q 0 0 0 rg BT 369.86 223.45 Td (securities ) Tj ET Q q 0 0 0 rg BT 409.52 223.45 Td (would ) Tj ET Q q 0 0 0 rg BT 436.41 223.45 Td (decrease ) Tj ET Q q 0 0 0 rg BT 472.71 223.45 Td (net ) Tj ET Q q 0 0 0 rg BT 486.81 223.45 Td (investment ) Tj ET Q q 0 0 0 rg BT 532.58 223.45 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.45 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 211.45 Td (income ) Tj ET Q q 0 0 0 rg BT 98.87 211.45 Td (before ) Tj ET Q q 0 0 0 rg BT 126.91 211.45 Td (taxes ) Tj ET Q q 0 0 0 rg BT 149.96 211.45 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.46 211.45 Td ($102,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.96 211.45 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 194.45 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 194.45 Td ( ) Tj ET Q q 0 0 0 rg BT 59.03 194.45 Td (100 ) Tj ET Q q 0 0 0 rg BT 76.38 194.45 Td (basis ) Tj ET Q q 0 0 0 rg BT 98.74 194.45 Td (point ) Tj ET Q q 0 0 0 rg BT 121.66 194.45 Td (increase ) Tj ET Q q 0 0 0 rg BT 156.77 194.45 Td (would ) Tj ET Q q 0 0 0 rg BT 184.13 194.45 Td (have ) Tj ET Q q 0 0 0 rg BT 205.36 194.45 Td (also ) Tj ET Q q 0 0 0 rg BT 223.83 194.45 Td (decreased ) Tj ET Q q 0 0 0 rg BT 265.60 194.45 Td (other ) Tj ET Q q 0 0 0 rg BT 288.50 194.45 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 351.39 194.45 Td (income ) Tj ET Q q 0 0 0 rg BT 383.18 194.45 Td (by ) Tj ET Q q 0 0 0 rg BT 395.54 194.45 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.66 194.45 Td ($4.6 ) Tj ET Q q 0 0 0 rg BT 475.51 194.45 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.40 194.45 Td ( ) Tj ET Q q 0 0 0 rg BT 506.76 194.45 Td (due ) Tj ET Q q 0 0 0 rg BT 523.56 194.45 Td (to ) Tj ET Q q 0 0 0 rg BT 533.69 194.45 Td (mark-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.45 Td (to-market ) Tj ET Q q 0 0 0 rg BT 96.30 182.45 Td (requirements; ) Tj ET Q q 0 0 0 rg BT 154.28 182.45 Td (however) Tj ET Q q 0 0 0 rg BT 188.30 182.45 Td (, ) Tj ET Q q 0 0 0 rg BT 193.80 182.45 Td (holding ) Tj ET Q q 0 0 0 rg BT 227.34 182.45 Td (investments ) Tj ET Q q 0 0 0 rg BT 278.11 182.45 Td (to ) Tj ET Q q 0 0 0 rg BT 288.88 182.45 Td (maturity ) Tj ET Q q 0 0 0 rg BT 325.75 182.45 Td (would ) Tj ET Q q 0 0 0 rg BT 353.75 182.45 Td (mitigate ) Tj ET Q q 0 0 0 rg BT 389.51 182.45 Td (this ) Tj ET Q q 0 0 0 rg BT 406.95 182.45 Td (impact. ) Tj ET Q q 0 0 0 rg BT 439.65 182.45 Td ( ) Tj ET Q q 0 0 0 rg BT 442.64 182.45 Td (Conversely) Tj ET Q q 0 0 0 rg BT 487.54 182.45 Td (, ) Tj ET Q q 0 0 0 rg BT 493.03 182.45 Td (a ) Tj ET Q q 0 0 0 rg BT 500.46 182.45 Td (100 ) Tj ET Q q 0 0 0 rg BT 518.46 182.45 Td (basis ) Tj ET Q q 0 0 0 rg BT 541.45 182.45 Td (point ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 170.45 Td (decrease ) Tj ET Q q 0 0 0 rg BT 86.87 170.45 Td (would ) Tj ET Q q 0 0 0 rg BT 114.33 170.45 Td (increase ) Tj ET Q q 0 0 0 rg BT 149.54 170.45 Td (other ) Tj ET Q q 0 0 0 rg BT 172.55 170.45 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 235.54 170.45 Td (income ) Tj ET Q q 0 0 0 rg BT 267.43 170.45 Td (by ) Tj ET Q q 0 0 0 rg BT 279.89 170.45 Td (the ) Tj ET Q q 0 0 0 rg BT 294.57 170.45 Td (same ) Tj ET Q q 0 0 0 rg BT 317.57 170.45 Td (amount. ) Tj ET Q q 0 0 0 rg BT 352.35 170.45 Td (The ) Tj ET Q q 0 0 0 rg BT 370.35 170.45 Td (impacts ) Tj ET Q q 0 0 0 rg BT 403.91 170.45 Td (described ) Tj ET Q q 0 0 0 rg BT 444.69 170.45 Td (here ) Tj ET Q q 0 0 0 rg BT 464.35 170.45 Td (are ) Tj ET Q q 0 0 0 rg BT 479.02 170.45 Td (approximately ) Tj ET Q q 0 0 0 rg BT 539.24 170.45 Td (linear ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.45 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 158.45 Td (the ) Tj ET Q q 0 0 0 rg BT 75.00 158.45 Td (change ) Tj ET Q q 0 0 0 rg BT 105.81 158.45 Td (in ) Tj ET Q q 0 0 0 rg BT 116.09 158.45 Td (interest ) Tj ET Q q 0 0 0 rg BT 148.02 158.45 Td (rates. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 139.65 Td (Due ) Tj ET Q q 0 0 0 rg BT 69.72 139.65 Td (fr) Tj ET Q q 0 0 0 rg BT 77.31 139.65 Td (om ) Tj ET Q q 0 0 0 rg BT 93.14 139.65 Td (Reinsur) Tj ET Q q 0 0 0 rg BT 126.85 139.65 Td (ers ) Tj ET Q q 0 0 0 rg BT 142.12 139.65 Td (and ) Tj ET Q q 0 0 0 rg BT 160.74 139.65 Td (Other) Tj ET Q q 0 0 0 rg BT 186.11 139.65 Td ( ) Tj ET Q q 0 0 0 rg BT 188.61 139.65 Td (Insur) Tj ET Q q 0 0 0 rg BT 211.77 139.65 Td (ers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 122.65 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.77 122.65 Td (purchases ) Tj ET Q q 0 0 0 rg BT 115.85 122.65 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 164.59 122.65 Td (from ) Tj ET Q q 0 0 0 rg BT 186.69 122.65 Td (third ) Tj ET Q q 0 0 0 rg BT 208.23 122.65 Td (parties ) Tj ET Q q 0 0 0 rg BT 237.55 122.65 Td (in ) Tj ET Q q 0 0 0 rg BT 247.98 122.65 Td (order ) Tj ET Q q 0 0 0 rg BT 271.74 122.65 Td (to ) Tj ET Q q 0 0 0 rg BT 282.18 122.65 Td (reduce ) Tj ET Q q 0 0 0 rg BT 311.48 122.65 Td (its ) Tj ET Q q 0 0 0 rg BT 323.59 122.65 Td (liability ) Tj ET Q q 0 0 0 rg BT 357.35 122.65 Td (on ) Tj ET Q q 0 0 0 rg BT 370.01 122.65 Td (individual ) Tj ET Q q 0 0 0 rg BT 413.22 122.65 Td (risks ) Tj ET Q q 0 0 0 rg BT 434.77 122.65 Td (and ) Tj ET Q q 0 0 0 rg BT 451.86 122.65 Td (its ) Tj ET Q q 0 0 0 rg BT 463.97 122.65 Td (exposure ) Tj ET Q q 0 0 0 rg BT 502.73 122.65 Td (to ) Tj ET Q q 0 0 0 rg BT 513.16 122.65 Td (lar) Tj ET Q q 0 0 0 rg BT 523.53 122.65 Td (ge ) Tj ET Q q 0 0 0 rg BT 535.63 122.65 Td (losses. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 110.65 Td (Reinsurance ) Tj ET Q q 0 0 0 rg BT 102.51 110.65 Td (is ) Tj ET Q q 0 0 0 rg BT 112.26 110.65 Td (coverage ) Tj ET Q q 0 0 0 rg BT 151.43 110.65 Td (purchased ) Tj ET Q q 0 0 0 rg BT 195.05 110.65 Td (by ) Tj ET Q q 0 0 0 rg BT 208.13 110.65 Td (one ) Tj ET Q q 0 0 0 rg BT 225.65 110.65 Td (insurance ) Tj ET Q q 0 0 0 rg BT 267.05 110.65 Td (company ) Tj ET Q q 0 0 0 rg BT 306.79 110.65 Td (from ) Tj ET Q q 0 0 0 rg BT 329.31 110.65 Td (another ) Tj ET Q q 0 0 0 rg BT 362.38 110.65 Td (for ) Tj ET Q q 0 0 0 rg BT 377.13 110.65 Td (part ) Tj ET Q q 0 0 0 rg BT 395.76 110.65 Td (of ) Tj ET Q q 0 0 0 rg BT 407.17 110.65 Td (the ) Tj ET Q q 0 0 0 rg BT 422.47 110.65 Td (risk ) Tj ET Q q 0 0 0 rg BT 440.55 110.65 Td (originally ) Tj ET Q q 0 0 0 rg BT 482.52 110.65 Td (underwritten ) Tj ET Q q 0 0 0 rg BT 536.70 110.65 Td (by ) Tj ET Q q 0 0 0 rg BT 549.78 110.65 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.65 Td (purchasing ) Tj ET Q q 0 0 0 rg BT 96.73 98.65 Td (\(ceding\) ) Tj ET Q q 0 0 0 rg BT 132.89 98.65 Td (insurance ) Tj ET Q q 0 0 0 rg BT 174.05 98.65 Td (company) Tj ET Q q 0 0 0 rg BT 210.06 98.65 Td (. ) Tj ET Q q 0 0 0 rg BT 215.20 98.65 Td (The ) Tj ET Q q 0 0 0 rg BT 233.60 98.65 Td (practice ) Tj ET Q q 0 0 0 rg BT 268.08 98.65 Td (of ) Tj ET Q q 0 0 0 rg BT 279.26 98.65 Td (ceding ) Tj ET Q q 0 0 0 rg BT 308.77 98.65 Td (insurance ) Tj ET Q q 0 0 0 rg BT 349.93 98.65 Td (to ) Tj ET Q q 0 0 0 rg BT 360.56 98.65 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 402.83 98.65 Td (allows ) Tj ET Q q 0 0 0 rg BT 431.79 98.65 Td (an ) Tj ET Q q 0 0 0 rg BT 444.08 98.65 Td (insurance ) Tj ET Q q 0 0 0 rg BT 485.24 98.65 Td (company ) Tj ET Q q 0 0 0 rg BT 524.74 98.65 Td (to ) Tj ET Q q 0 0 0 rg BT 535.37 98.65 Td (reduce ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 86.65 Td (its ) Tj ET Q q 0 0 0 rg BT 61.97 86.65 Td (exposure ) Tj ET Q q 0 0 0 rg BT 100.59 86.65 Td (to ) Tj ET Q q 0 0 0 rg BT 110.89 86.65 Td (loss ) Tj ET Q q 0 0 0 rg BT 128.97 86.65 Td (by ) Tj ET Q q 0 0 0 rg BT 141.49 86.65 Td (size, ) Tj ET Q q 0 0 0 rg BT 162.06 86.65 Td (geographic ) Tj ET Q q 0 0 0 rg BT 209.00 86.65 Td (area, ) Tj ET Q q 0 0 0 rg BT 230.67 86.65 Td (and ) Tj ET Q q 0 0 0 rg BT 247.63 86.65 Td (type ) Tj ET Q q 0 0 0 rg BT 267.37 86.65 Td (of ) Tj ET Q q 0 0 0 rg BT 278.22 86.65 Td (risk ) Tj ET Q q 0 0 0 rg BT 295.74 86.65 Td (or ) Tj ET Q q 0 0 0 rg BT 306.59 86.65 Td (on ) Tj ET Q q 0 0 0 rg BT 319.11 86.65 Td (a ) Tj ET Q q 0 0 0 rg BT 326.07 86.65 Td (particular ) Tj ET Q q 0 0 0 rg BT 366.90 86.65 Td (policy) Tj ET Q q 0 0 0 rg BT 391.25 86.65 Td (. ) Tj ET Q q 0 0 0 rg BT 395.71 86.65 Td (An ) Tj ET Q q 0 0 0 rg BT 410.46 86.65 Td (ef) Tj ET Q q 0 0 0 rg BT 418.04 86.65 Td (fect ) Tj ET Q q 0 0 0 rg BT 435.55 86.65 Td (of ) Tj ET Q q 0 0 0 rg BT 446.40 86.65 Td (ceding ) Tj ET Q q 0 0 0 rg BT 475.58 86.65 Td (insurance ) Tj ET Q q 0 0 0 rg BT 516.41 86.65 Td (is ) Tj ET Q q 0 0 0 rg BT 525.60 86.65 Td (to ) Tj ET Q q 0 0 0 rg BT 535.90 86.65 Td (permit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 74.65 Td (an ) Tj ET Q q 0 0 0 rg BT 61.44 74.65 Td (insurance ) Tj ET Q q 0 0 0 rg BT 101.77 74.65 Td (company ) Tj ET Q q 0 0 0 rg BT 140.43 74.65 Td (to ) Tj ET Q q 0 0 0 rg BT 150.21 74.65 Td (write ) Tj ET Q q 0 0 0 rg BT 172.76 74.65 Td (additional ) Tj ET Q q 0 0 0 rg BT 214.76 74.65 Td (insurance ) Tj ET Q q 0 0 0 rg BT 255.08 74.65 Td (for ) Tj ET Q q 0 0 0 rg BT 268.75 74.65 Td (risks ) Tj ET Q q 0 0 0 rg BT 289.64 74.65 Td (in ) Tj ET Q q 0 0 0 rg BT 299.43 74.65 Td (greater ) Tj ET Q q 0 0 0 rg BT 329.19 74.65 Td (number ) Tj ET Q q 0 0 0 rg BT 361.74 74.65 Td (or ) Tj ET Q q 0 0 0 rg BT 372.08 74.65 Td (in ) Tj ET Q q 0 0 0 rg BT 381.86 74.65 Td (lar) Tj ET Q q 0 0 0 rg BT 392.23 74.65 Td (ger ) Tj ET Q q 0 0 0 rg BT 407.00 74.65 Td (amounts ) Tj ET Q q 0 0 0 rg BT 442.89 74.65 Td (than ) Tj ET Q q 0 0 0 rg BT 462.12 74.65 Td (it ) Tj ET Q q 0 0 0 rg BT 469.68 74.65 Td (would ) Tj ET Q q 0 0 0 rg BT 496.69 74.65 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 537.57 74.65 Td (insure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 62.65 Td (independently) Tj ET Q q 0 0 0 rg BT 106.00 62.65 Td (, ) Tj ET Q q 0 0 0 rg BT 111.00 62.65 Td (based ) Tj ET Q q 0 0 0 rg BT 136.27 62.65 Td (on ) Tj ET Q q 0 0 0 rg BT 148.77 62.65 Td (its ) Tj ET Q q 0 0 0 rg BT 160.72 62.65 Td (statutory ) Tj ET Q q 0 0 0 rg BT 198.21 62.65 Td (capital, ) Tj ET Q q 0 0 0 rg BT 229.86 62.65 Td (risk ) Tj ET Q q 0 0 0 rg BT 247.36 62.65 Td (tolerance ) Tj ET Q q 0 0 0 rg BT 286.50 62.65 Td (and ) Tj ET Q q 0 0 0 rg BT 303.44 62.65 Td (other ) Tj ET Q q 0 0 0 rg BT 326.49 62.65 Td (factors.) Tj ET Q endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.92 742.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 113.94 742.10 Td (purchases ) Tj ET Q q 0 0 0 rg BT 156.18 742.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 205.08 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 215.68 742.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 237.38 742.10 Td (net ) Tj ET Q q 0 0 0 rg BT 252.41 742.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 291.33 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 301.92 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 309.17 742.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 352.54 742.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 385.35 742.10 Td (on ) Tj ET Q q 0 0 0 rg BT 398.17 742.10 Td (any ) Tj ET Q q 0 0 0 rg BT 415.42 742.10 Td (one ) Tj ET Q q 0 0 0 rg BT 432.67 742.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 451.05 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 462.19 742.10 Td ($500,000 ) Tj ET Q q 0 0 0 rg BT 502.51 742.10 Td (with ) Tj ET Q q 0 0 0 rg BT 523.10 742.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 554.23 742.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 99.63 730.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 147.05 730.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 180.60 730.10 Td (claims. ) Tj ET Q q 0 0 0 rg BT 211.63 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 213.53 730.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 237.07 730.10 Td (also ) Tj ET Q q 0 0 0 rg BT 255.61 730.10 Td (purchases ) Tj ET Q q 0 0 0 rg BT 297.47 730.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 345.99 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 356.20 730.10 Td (protect ) Tj ET Q q 0 0 0 rg BT 386.40 730.10 Td (against ) Tj ET Q q 0 0 0 rg BT 417.16 730.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 447.91 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 458.12 730.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 486.65 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 497.42 730.10 Td (its ) Tj ET Q q 0 0 0 rg BT 509.30 730.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 536.73 730.10 Td (limits. ) Tj ET Q q 0 0 0 rg BT 564.51 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.71 718.10 Td (continually ) Tj ET Q q 0 0 0 rg BT 121.31 718.10 Td (evaluates ) Tj ET Q q 0 0 0 rg BT 161.12 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 178.17 718.10 Td (adjusts ) Tj ET Q q 0 0 0 rg BT 208.55 718.10 Td (its ) Tj ET Q q 0 0 0 rg BT 220.60 718.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 269.29 718.10 Td (needs ) Tj ET Q q 0 0 0 rg BT 294.67 718.10 Td (based ) Tj ET Q q 0 0 0 rg BT 320.04 718.10 Td (on ) Tj ET Q q 0 0 0 rg BT 332.65 718.10 Td (business ) Tj ET Q q 0 0 0 rg BT 369.15 718.10 Td (volume, ) Tj ET Q q 0 0 0 rg BT 404.25 718.10 Td (mix, ) Tj ET Q q 0 0 0 rg BT 424.91 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 441.96 718.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 471.24 718.10 Td (levels. ) Tj ET Q q 0 0 0 rg BT 499.67 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 501.70 718.10 Td (As ) Tj ET Q q 0 0 0 rg BT 515.42 718.10 Td (a ) Tj ET Q q 0 0 0 rg BT 522.46 718.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 549.79 718.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 90.90 706.10 Td (has ) Tj ET Q q 0 0 0 rg BT 106.23 706.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 137.67 706.10 Td (into ) Tj ET Q q 0 0 0 rg BT 155.23 706.10 Td (a ) Tj ET Q q 0 0 0 rg BT 161.68 706.10 Td (quota ) Tj ET Q q 0 0 0 rg BT 185.90 706.10 Td (share ) Tj ET Q q 0 0 0 rg BT 209.01 706.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 257.10 706.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 291.31 706.10 Td (with ) Tj ET Q q 0 0 0 rg BT 311.10 706.10 Td (Swiss ) Tj ET Q q 0 0 0 rg BT 336.45 706.10 Td (Reinsurance ) Tj ET Q q 0 0 0 rg BT 387.44 706.10 Td (America ) Tj ET Q q 0 0 0 rg BT 423.87 706.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 474.21 706.10 Td (\("Swiss ) Tj ET Q q 0 0 0 rg BT 506.97 706.10 Td (Re"\), ) Tj ET Q q 0 0 0 rg BT 530.00 706.10 Td (a ) Tj ET Q q 0 0 0 rg BT 536.45 706.10 Td (highly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (accredited ) Tj ET Q q 0 0 0 rg BT 93.62 694.10 Td (global ) Tj ET Q q 0 0 0 rg BT 121.15 694.10 Td (reinsurer) Tj ET Q q 0 0 0 rg BT 156.14 694.10 Td (. ) Tj ET Q q 0 0 0 rg BT 161.18 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 163.72 694.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 181.81 694.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 207.68 694.10 Td (cession ) Tj ET Q q 0 0 0 rg BT 239.65 694.10 Td (is ) Tj ET Q q 0 0 0 rg BT 248.86 694.10 Td (5% ) Tj ET Q q 0 0 0 rg BT 264.73 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.60 694.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 306.46 694.10 Td (written ) Tj ET Q q 0 0 0 rg BT 337.33 694.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 379.86 694.10 Td (which ) Tj ET Q q 0 0 0 rg BT 406.84 694.10 Td (can ) Tj ET Q q 0 0 0 rg BT 423.26 694.10 Td (be ) Tj ET Q q 0 0 0 rg BT 435.23 694.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 475.53 694.10 Td (at ) Tj ET Q q 0 0 0 rg BT 485.28 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 501.15 694.10 Td (election ) Tj ET Q q 0 0 0 rg BT 535.34 694.10 Td (should ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (we ) Tj ET Q q 0 0 0 rg BT 64.76 682.10 Td (want ) Tj ET Q q 0 0 0 rg BT 87.29 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 98.16 682.10 Td (utilize ) Tj ET Q q 0 0 0 rg BT 126.25 682.10 Td (it ) Tj ET Q q 0 0 0 rg BT 134.90 682.10 Td (as ) Tj ET Q q 0 0 0 rg BT 146.33 682.10 Td (a ) Tj ET Q q 0 0 0 rg BT 153.86 682.10 Td (means ) Tj ET Q q 0 0 0 rg BT 182.50 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.93 682.10 Td (deleveraging. ) Tj ET Q q 0 0 0 rg BT 251.17 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 254.04 682.10 Td (This ) Tj ET Q q 0 0 0 rg BT 274.91 682.10 Td (new ) Tj ET Q q 0 0 0 rg BT 294.67 682.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 326.08 682.10 Td (gives ) Tj ET Q q 0 0 0 rg BT 350.29 682.10 Td (us ) Tj ET Q q 0 0 0 rg BT 362.28 682.10 Td (flexibility ) Tj ET Q q 0 0 0 rg BT 404.81 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 415.68 682.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 441.00 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 452.42 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.74 682.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 496.94 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 514.48 682.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 554.22 682.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 87.49 670.10 Td (future ) Tj ET Q q 0 0 0 rg BT 113.87 670.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 143.02 670.10 Td (raising ) Tj ET Q q 0 0 0 rg BT 172.73 670.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 211.33 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 221.61 670.10 Td (light ) Tj ET Q q 0 0 0 rg BT 242.45 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 253.28 670.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 299.64 670.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 339.90 670.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 380.16 670.10 Td (leverage.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 653.10 Td (Reinsurance ) Tj ET Q q 0 0 0 rg BT 102.38 653.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 128.65 653.10 Td (does ) Tj ET Q q 0 0 0 rg BT 149.94 653.10 Td (not ) Tj ET Q q 0 0 0 rg BT 165.67 653.10 Td (relieve ) Tj ET Q q 0 0 0 rg BT 195.18 653.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 219.24 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 230.52 653.10 Td (its ) Tj ET Q q 0 0 0 rg BT 242.93 653.10 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 278.65 653.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 312.72 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 323.45 653.10 Td (its ) Tj ET Q q 0 0 0 rg BT 335.85 653.10 Td (insured ) Tj ET Q q 0 0 0 rg BT 368.25 653.10 Td (in ) Tj ET Q q 0 0 0 rg BT 378.98 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 394.15 653.10 Td (event ) Tj ET Q q 0 0 0 rg BT 418.77 653.10 Td (that ) Tj ET Q q 0 0 0 rg BT 436.72 653.10 Td (any ) Tj ET Q q 0 0 0 rg BT 454.11 653.10 Td (reinsurer ) Tj ET Q q 0 0 0 rg BT 492.60 653.10 Td (is ) Tj ET Q q 0 0 0 rg BT 502.23 653.10 Td (unable ) Tj ET Q q 0 0 0 rg BT 531.84 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 542.57 653.10 Td (meet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.10 Td (their ) Tj ET Q q 0 0 0 rg BT 71.83 641.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 119.79 641.10 Td (under ) Tj ET Q q 0 0 0 rg BT 146.07 641.10 Td (its ) Tj ET Q q 0 0 0 rg BT 159.02 641.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 208.62 641.10 Td (contracts. ) Tj ET Q q 0 0 0 rg BT 250.47 641.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 295.12 641.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 319.73 641.10 Td (enters ) Tj ET Q q 0 0 0 rg BT 347.12 641.10 Td (into ) Tj ET Q q 0 0 0 rg BT 366.19 641.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 415.78 641.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 455.39 641.10 Td (with ) Tj ET Q q 0 0 0 rg BT 476.67 641.10 Td (only ) Tj ET Q q 0 0 0 rg BT 497.96 641.10 Td (those ) Tj ET Q q 0 0 0 rg BT 522.58 641.10 Td (reinsurers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 84.39 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 95.46 629.10 Td (have ) Tj ET Q q 0 0 0 rg BT 117.63 629.10 Td (suf) Tj ET Q q 0 0 0 rg BT 129.67 629.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 158.50 629.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 196.77 629.10 Td (resources ) Tj ET Q q 0 0 0 rg BT 237.83 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 248.90 629.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 282.74 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 298.25 629.10 Td (requested ) Tj ET Q q 0 0 0 rg BT 339.85 629.10 Td (coverage. ) Tj ET Q q 0 0 0 rg BT 381.73 629.10 Td (Reinsurance ) Tj ET Q q 0 0 0 rg BT 434.45 629.10 Td (treaties ) Tj ET Q q 0 0 0 rg BT 466.61 629.10 Td (are ) Tj ET Q q 0 0 0 rg BT 482.11 629.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 522.60 629.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 554.22 629.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 617.10 Td (cancellation ) Tj ET Q q 0 0 0 rg BT 100.63 617.10 Td (by ) Tj ET Q q 0 0 0 rg BT 112.96 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 127.51 617.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 169.27 617.10 Td (or ) Tj ET Q q 0 0 0 rg BT 179.41 617.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 202.85 617.10 Td (on ) Tj ET Q q 0 0 0 rg BT 215.18 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.73 617.10 Td (anniversary ) Tj ET Q q 0 0 0 rg BT 278.70 617.10 Td (date ) Tj ET Q q 0 0 0 rg BT 297.68 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 314.45 617.10 Td (are ) Tj ET Q q 0 0 0 rg BT 328.99 617.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 359.64 617.10 Td (to ) Tj ET Q q 0 0 0 rg BT 369.75 617.10 Td (renegotiation ) Tj ET Q q 0 0 0 rg BT 424.84 617.10 Td (annually) Tj ET Q q 0 0 0 rg BT 458.62 617.10 Td (. ) Tj ET Q q 0 0 0 rg BT 462.94 617.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 486.37 617.10 Td (regularly ) Tj ET Q q 0 0 0 rg BT 524.80 617.10 Td (evaluates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.23 605.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 101.22 605.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 141.01 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 151.35 605.10 Td (its ) Tj ET Q q 0 0 0 rg BT 162.81 605.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 204.26 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 220.71 605.10 Td (monitors ) Tj ET Q q 0 0 0 rg BT 258.28 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 272.51 605.10 Td (concentrations ) Tj ET Q q 0 0 0 rg BT 332.83 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 343.18 605.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 367.95 605.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 384.97 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 394.76 605.10 Td (minimize ) Tj ET Q q 0 0 0 rg BT 434.54 605.10 Td (its ) Tj ET Q q 0 0 0 rg BT 446.00 605.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 484.11 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 493.90 605.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 538.13 605.10 Td (losses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 593.10 Td (as ) Tj ET Q q 0 0 0 rg BT 62.22 593.10 Td (a ) Tj ET Q q 0 0 0 rg BT 70.55 593.10 Td (result ) Tj ET Q q 0 0 0 rg BT 96.65 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 108.87 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 124.98 593.10 Td (insolvency ) Tj ET Q q 0 0 0 rg BT 172.19 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 184.41 593.10 Td (a ) Tj ET Q q 0 0 0 rg BT 192.74 593.10 Td (reinsurer) Tj ET Q q 0 0 0 rg BT 227.72 593.10 Td (. ) Tj ET Q q 0 0 0 rg BT 233.25 593.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 258.25 593.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 294.90 593.10 Td (that ) Tj ET Q q 0 0 0 rg BT 313.78 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 329.89 593.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 367.67 593.10 Td (it ) Tj ET Q q 0 0 0 rg BT 377.11 593.10 Td (has ) Tj ET Q q 0 0 0 rg BT 394.33 593.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 433.19 593.10 Td (as ) Tj ET Q q 0 0 0 rg BT 445.41 593.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 495.38 593.10 Td (recoverables ) Tj ET Q q 0 0 0 rg BT 549.80 593.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 581.10 Td (appropriately ) Tj ET Q q 0 0 0 rg BT 106.21 581.10 Td (established. ) Tj ET Q q 0 0 0 rg BT 156.05 581.10 Td (Estimating ) Tj ET Q q 0 0 0 rg BT 202.28 581.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 239.07 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 250.30 581.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 299.29 581.10 Td (recoverables, ) Tj ET Q q 0 0 0 rg BT 355.21 581.10 Td (however) Tj ET Q q 0 0 0 rg BT 389.24 581.10 Td (, ) Tj ET Q q 0 0 0 rg BT 394.64 581.10 Td (is ) Tj ET Q q 0 0 0 rg BT 404.21 581.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 435.44 581.10 Td (to ) Tj ET Q q 0 0 0 rg BT 446.12 581.10 Td (various ) Tj ET Q q 0 0 0 rg BT 478.46 581.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 532.45 581.10 Td (and ) Tj ET Q q 0 0 0 rg BT 549.79 581.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 569.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 86.07 569.10 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 128.80 569.10 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 177.61 569.10 Td (may ) Tj ET Q q 0 0 0 rg BT 197.01 569.10 Td (vary ) Tj ET Q q 0 0 0 rg BT 216.96 569.10 Td (from ) Tj ET Q q 0 0 0 rg BT 238.58 569.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 274.65 569.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 312.93 569.10 Td (recorded. ) Tj ET Q q 0 0 0 rg BT 352.59 569.10 Td ( ) Tj ET Q q 0 0 0 rg BT 354.29 569.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 377.58 569.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.20 569.10 Td ($20.7 ) Tj ET Q q 0 0 0 rg BT 418.88 569.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.77 569.10 Td ( ) Tj ET Q q 0 0 0 rg BT 449.96 569.10 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 498.77 569.10 Td (from ) Tj ET Q q 0 0 0 rg BT 520.39 569.10 Td (third ) Tj ET Q q 0 0 0 rg BT 541.46 569.10 Td (party ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 557.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 91.53 557.10 Td (\(exclusive ) Tj ET Q q 0 0 0 rg BT 134.73 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 145.17 557.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 181.16 557.10 Td (prepaid\) ) Tj ET Q q 0 0 0 rg BT 216.58 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 233.12 557.10 Td (other ) Tj ET Q q 0 0 0 rg BT 255.77 557.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 289.54 557.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.86 557.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 357.05 557.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.05 557.10 Td ( ) Tj ET Q q 0 0 0 rg BT 379.15 557.10 Td (as ) Tj ET Q q 0 0 0 rg BT 389.58 557.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 431.11 557.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 557.10 Td ($19.1 ) Tj ET Q q 0 0 0 rg BT 465.60 557.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.49 557.10 Td ( ) Tj ET Q q 0 0 0 rg BT 496.60 557.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 557.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 545.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 545.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 528.10 Td (Estimating ) Tj ET Q q 0 0 0 rg BT 95.65 528.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 131.86 528.10 Td (of ) Tj ET Q q 0 0 0 rg BT 142.51 528.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 190.91 528.10 Td (recoverables ) Tj ET Q q 0 0 0 rg BT 243.76 528.10 Td (is ) Tj ET Q q 0 0 0 rg BT 252.75 528.10 Td (also ) Tj ET Q q 0 0 0 rg BT 271.18 528.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 310.15 528.10 Td (by ) Tj ET Q q 0 0 0 rg BT 322.47 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 337.01 528.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 390.42 528.10 Td (involved ) Tj ET Q q 0 0 0 rg BT 427.73 528.10 Td (in ) Tj ET Q q 0 0 0 rg BT 437.83 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 452.37 528.10 Td (establishment ) Tj ET Q q 0 0 0 rg BT 509.68 528.10 Td (of ) Tj ET Q q 0 0 0 rg BT 520.33 528.10 Td (provisions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 516.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.10 516.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 91.76 516.10 Td (claims. ) Tj ET Q q 0 0 0 rg BT 121.48 516.10 Td (As ) Tj ET Q q 0 0 0 rg BT 134.03 516.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 178.80 516.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 213.00 516.10 Td (potentially ) Tj ET Q q 0 0 0 rg BT 257.20 516.10 Td (develop, ) Tj ET Q q 0 0 0 rg BT 292.80 516.10 Td (the ) Tj ET Q q 0 0 0 rg BT 306.46 516.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 341.78 516.10 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 383.77 516.10 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 431.84 516.10 Td (may ) Tj ET Q q 0 0 0 rg BT 450.49 516.10 Td (vary ) Tj ET Q q 0 0 0 rg BT 469.70 516.10 Td (from ) Tj ET Q q 0 0 0 rg BT 490.58 516.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 525.91 516.10 Td (currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 504.10 Td (recorded. ) Tj ET Q q 0 0 0 rg BT 90.28 504.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 113.98 504.10 Td ( ) Tj ET Q q 0 0 0 rg BT 117.58 504.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 167.26 504.10 Td (recoverables ) Tj ET Q q 0 0 0 rg BT 221.38 504.10 Td (are ) Tj ET Q q 0 0 0 rg BT 237.19 504.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 277.99 504.10 Td (unsecured. ) Tj ET Q q 0 0 0 rg BT 323.84 504.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 348.54 504.10 Td (regularly ) Tj ET Q q 0 0 0 rg BT 388.24 504.10 Td (evaluates ) Tj ET Q q 0 0 0 rg BT 429.04 504.10 Td (its ) Tj ET Q q 0 0 0 rg BT 442.09 504.10 Td (reinsurers, ) Tj ET Q q 0 0 0 rg BT 487.62 504.10 Td (and ) Tj ET Q q 0 0 0 rg BT 505.66 504.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.47 504.10 Td (respective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 492.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 86.39 492.10 Td (recoverable, ) Tj ET Q q 0 0 0 rg BT 138.02 492.10 Td (and ) Tj ET Q q 0 0 0 rg BT 154.96 492.10 Td (an ) Tj ET Q q 0 0 0 rg BT 166.89 492.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 209.93 492.10 Td (for ) Tj ET Q q 0 0 0 rg BT 224.09 492.10 Td (uncollectible ) Tj ET Q q 0 0 0 rg BT 278.23 492.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 326.82 492.10 Td (is ) Tj ET Q q 0 0 0 rg BT 335.99 492.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 374.03 492.10 Td (for) Tj ET Q q 0 0 0 rg BT 385.29 492.10 Td (, ) Tj ET Q q 0 0 0 rg BT 390.29 492.10 Td (if ) Tj ET Q q 0 0 0 rg BT 398.90 492.10 Td (needed. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 73.70 475.10 Td ( ) Tj ET Q q 0 0 0 rg BT 75.21 475.10 Td (lar) Tj ET Q q 0 0 0 rg BT 85.58 475.10 Td (gest ) Tj ET Q q 0 0 0 rg BT 103.21 475.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 150.81 475.10 Td (partners ) Tj ET Q q 0 0 0 rg BT 184.54 475.10 Td (are ) Tj ET Q q 0 0 0 rg BT 198.26 475.10 Td (Great ) Tj ET Q q 0 0 0 rg BT 221.65 475.10 Td (American ) Tj ET Q q 0 0 0 rg BT 262.59 475.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 302.98 475.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 343.39 475.10 Td (\(Great ) Tj ET Q q 0 0 0 rg BT 374.54 475.10 Td (American\), ) Tj ET Q q 0 0 0 rg BT 425.76 475.10 Td (a ) Tj ET Q q 0 0 0 rg BT 431.71 475.10 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 474.34 475.10 Td (of ) Tj ET Q q 0 0 0 rg BT 483.85 475.10 Td (American ) Tj ET Q q 0 0 0 rg BT 524.80 475.10 Td (Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (Group, ) Tj ET Q q 0 0 0 rg BT 80.67 463.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 101.06 463.10 Td (General ) Tj ET Q q 0 0 0 rg BT 135.32 463.10 Td (Reinsurance ) Tj ET Q q 0 0 0 rg BT 187.37 463.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 238.31 463.10 Td (\("Gen ) Tj ET Q q 0 0 0 rg BT 265.00 463.10 Td (Re"\), ) Tj ET Q q 0 0 0 rg BT 288.65 463.10 Td (a ) Tj ET Q q 0 0 0 rg BT 295.70 463.10 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 339.43 463.10 Td (of ) Tj ET Q q 0 0 0 rg BT 350.38 463.10 Td (Berkshire ) Tj ET Q q 0 0 0 rg BT 391.88 463.10 Td (Hathaway) Tj ET Q q 0 0 0 rg BT 431.77 463.10 Td (, ) Tj ET Q q 0 0 0 rg BT 436.88 463.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 457.27 463.10 Td (Swiss ) Tj ET Q q 0 0 0 rg BT 483.24 463.10 Td (Re ) Tj ET Q q 0 0 0 rg BT 496.97 463.10 Td (and ) Tj ET Q q 0 0 0 rg BT 513.83 463.10 Td (White ) Tj ET Q q 0 0 0 rg BT 540.89 463.10 Td (Rock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 90.60 451.10 Td (\(SAC\) ) Tj ET Q q 0 0 0 rg BT 118.44 451.10 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 136.56 451.10 Td (Great ) Tj ET Q q 0 0 0 rg BT 160.12 451.10 Td (American ) Tj ET Q q 0 0 0 rg BT 201.27 451.10 Td (has ) Tj ET Q q 0 0 0 rg BT 216.33 451.10 Td (a ) Tj ET Q q 0 0 0 rg BT 222.50 451.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 259.21 451.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 293.16 451.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 318.22 451.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.90 451.10 Td (A+ ) Tj ET Q q 0 0 0 rg BT 342.49 451.10 Td (from ) Tj ET Q q 0 0 0 rg BT 363.66 451.10 Td (Standard ) Tj ET Q q 0 0 0 rg BT 400.94 451.10 Td (& ) Tj ET Q q 0 0 0 rg BT 410.44 451.10 Td (Poor) Tj ET Q q 0 0 0 rg BT 429.71 451.10 Td () Tj ET Q q 0 0 0 rg BT 432.49 451.10 Td (s, ) Tj ET Q q 0 0 0 rg BT 440.61 451.10 Td (Gen ) Tj ET Q q 0 0 0 rg BT 459.00 451.10 Td (Re ) Tj ET Q q 0 0 0 rg BT 471.84 451.10 Td (has ) Tj ET Q q 0 0 0 rg BT 486.90 451.10 Td (a ) Tj ET Q q 0 0 0 rg BT 493.07 451.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 529.78 451.10 Td (strength ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 75.24 439.10 Td (of ) Tj ET Q q 0 0 0 rg BT 85.07 439.10 Td (Aa1 ) Tj ET Q q 0 0 0 rg BT 103.64 439.10 Td (from ) Tj ET Q q 0 0 0 rg BT 125.00 439.10 Td (Moody) Tj ET Q q 0 0 0 rg BT 156.67 439.10 Td (s, ) Tj ET Q q 0 0 0 rg BT 164.98 439.10 Td (Swiss ) Tj ET Q q 0 0 0 rg BT 190.24 439.10 Td (Re ) Tj ET Q q 0 0 0 rg BT 203.26 439.10 Td (has ) Tj ET Q q 0 0 0 rg BT 218.51 439.10 Td (a ) Tj ET Q q 0 0 0 rg BT 224.86 439.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 261.76 439.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 295.89 439.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 321.13 439.10 Td (of ) Tj ET Q q 0 0 0 rg BT 330.96 439.10 Td (Aa3 ) Tj ET Q q 0 0 0 rg BT 349.54 439.10 Td (from ) Tj ET Q q 0 0 0 rg BT 370.89 439.10 Td (Moody's, ) Tj ET Q q 0 0 0 rg BT 409.89 439.10 Td (and ) Tj ET Q q 0 0 0 rg BT 426.11 439.10 Td (White ) Tj ET Q q 0 0 0 rg BT 452.46 439.10 Td (Rock ) Tj ET Q q 0 0 0 rg BT 475.48 439.10 Td (is ) Tj ET Q q 0 0 0 rg BT 484.07 439.10 Td (unrated. ) Tj ET Q q 0 0 0 rg BT 518.47 439.10 Td ( ) Tj ET Q q 0 0 0 rg BT 520.25 439.10 Td (The ) Tj ET Q q 0 0 0 rg BT 537.57 439.10 Td (White ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (Rock ) Tj ET Q q 0 0 0 rg BT 73.63 427.10 Td (balances ) Tj ET Q q 0 0 0 rg BT 110.58 427.10 Td (are ) Tj ET Q q 0 0 0 rg BT 125.31 427.10 Td (specifically ) Tj ET Q q 0 0 0 rg BT 173.92 427.10 Td (related ) Tj ET Q q 0 0 0 rg BT 203.64 427.10 Td (to ) Tj ET Q q 0 0 0 rg BT 213.94 427.10 Td (the ) Tj ET Q q 0 0 0 rg BT 228.68 427.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 266.74 427.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 303.27 427.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 361.34 427.10 Td (program ) Tj ET Q q 0 0 0 rg BT 397.74 427.10 Td (that ) Tj ET Q q 0 0 0 rg BT 415.25 427.10 Td (was ) Tj ET Q q 0 0 0 rg BT 433.33 427.10 Td (exited ) Tj ET Q q 0 0 0 rg BT 460.28 427.10 Td (during ) Tj ET Q q 0 0 0 rg BT 488.91 427.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 511.44 427.10 Td (and ) Tj ET Q q 0 0 0 rg BT 528.40 427.10 Td (are ) Tj ET Q q 0 0 0 rg BT 543.13 427.10 Td (fully ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 83.04 415.10 Td (by ) Tj ET Q q 0 0 0 rg BT 95.54 415.10 Td (a ) Tj ET Q q 0 0 0 rg BT 102.48 415.10 Td (letter) Tj ET Q q 0 0 0 rg BT 122.82 415.10 Td (-of-credit. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 396.30 Td (Deferr) Tj ET Q q 0 0 0 rg BT 78.13 396.30 Td (ed ) Tj ET Q q 0 0 0 rg BT 90.44 396.30 Td (T) Tj ET Q q 0 0 0 rg BT 96.20 396.30 Td (ax ) Tj ET Q q 0 0 0 rg BT 108.14 396.30 Td (Asset) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 371.55 Td (Components of Deferr) Tj ET Q q 0 0 0 rg BT 145.35 371.55 Td (ed ) Tj ET Q q 0 0 0 rg BT 157.67 371.55 Td (T) Tj ET Q q 0 0 0 rg BT 163.42 371.55 Td (ax \(in '000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 365.80 374.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 365.80 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 365.80 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 339.80 374.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 339.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 339.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 315.80 374.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 315.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 315.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 291.80 374.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 291.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 291.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 267.80 374.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 267.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 267.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 243.80 374.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 243.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 243.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 219.80 374.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 219.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 219.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 195.80 374.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 195.80 69.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 195.80 69.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 365.79999999999995 m 493.5 365.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 351.79999999999995 m 493.5 351.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 365.79999999999995 m 562.5 365.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 351.79999999999995 m 562.5 351.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 351.79999999999995 m 493.5 351.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 351.79999999999995 m 562.5 351.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 279.79999999999995 m 493.5 279.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 279.79999999999995 m 562.5 279.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 279.79999999999995 m 493.5 279.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 268.79999999999995 m 493.5 268.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 266.79999999999995 m 493.5 266.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 279.79999999999995 m 562.5 279.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 268.79999999999995 m 562.5 268.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 266.79999999999995 m 562.5 266.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 266.79999999999995 m 493.5 266.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 268.79999999999995 m 493.5 268.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 266.79999999999995 m 562.5 266.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 268.79999999999995 m 562.5 268.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 207.79999999999995 m 493.5 207.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 207.79999999999995 m 562.5 207.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 207.79999999999995 m 493.5 207.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 195.79999999999995 m 493.5 195.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 207.79999999999995 m 562.5 207.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 195.79999999999995 m 562.5 195.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 195.79999999999995 m 493.5 195.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 184.79999999999995 m 493.5 184.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 182.79999999999995 m 493.5 182.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 195.79999999999995 m 562.5 195.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 184.79999999999995 m 562.5 184.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 182.79999999999995 m 562.5 182.79999999999995 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 356.48 Td (At December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.50 356.48 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 356.48 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 342.53 Td (Deferred tax assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 330.42 Td (Unpaid claims and unearned premiums) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 330.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 330.42 Td (5,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 330.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 330.42 Td (4,783) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 318.42 Td (Loss carryforwards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 318.42 Td (14,212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 318.42 Td (15,265) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 306.42 Td (Bad debts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 306.42 Td (191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 306.42 Td (264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 294.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 294.42 Td (1,266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 294.42 Td (1,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 282.42 Td (Valuation allowance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 282.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 282.42 Td (\(9,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 282.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 270.53 Td (Total gross deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 270.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 270.42 Td (21,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 270.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 270.42 Td (12,312) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 246.53 Td (Deferred tax liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 234.42 Td (Deferred policy acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 234.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 234.42 Td (2,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 234.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 234.42 Td (2,269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 222.42 Td (Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 222.42 Td (740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 222.42 Td (345) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 210.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 210.42 Td (396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 210.42 Td (379) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 198.53 Td (Total gross deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 198.42 Td (3,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 198.42 Td (2,993) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 186.53 Td (Net deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 186.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 186.42 Td (17,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.00 186.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 186.42 Td (9,319) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 72.64 167.30 Td (established ) Tj ET Q q 0 0 0 rg BT 118.61 167.30 Td (a ) Tj ET Q q 0 0 0 rg BT 124.58 167.30 Td (valuation ) Tj ET Q q 0 0 0 rg BT 163.32 167.30 Td (allowance ) Tj ET Q q 0 0 0 rg BT 205.39 167.30 Td (of ) Tj ET Q q 0 0 0 rg BT 215.25 167.30 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.54 167.30 Td ($0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.54 167.30 Td ( ) Tj ET Q q 0 0 0 rg BT 286.07 167.30 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.04 167.30 Td ($9.4 ) Tj ET Q q 0 0 0 rg BT 321.07 167.30 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.97 167.30 Td ( ) Tj ET Q q 0 0 0 rg BT 351.50 167.30 Td (for ) Tj ET Q q 0 0 0 rg BT 364.69 167.30 Td (its ) Tj ET Q q 0 0 0 rg BT 375.67 167.30 Td (gross ) Tj ET Q q 0 0 0 rg BT 398.32 167.30 Td (future ) Tj ET Q q 0 0 0 rg BT 423.73 167.30 Td (deferred ) Tj ET Q q 0 0 0 rg BT 458.56 167.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 472.31 167.30 Td (assets ) Tj ET Q q 0 0 0 rg BT 497.17 167.30 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 167.30 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 155.30 Td ( ) Tj ET Q q 0 0 0 rg BT 73.37 155.30 Td (and ) Tj ET Q q 0 0 0 rg BT 91.18 155.30 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.77 155.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 161.23 155.30 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.23 155.30 Td (, ) Tj ET Q q 0 0 0 rg BT 187.10 155.30 Td (respectively) Tj ET Q q 0 0 0 rg BT 234.76 155.30 Td (. ) Tj ET Q q 0 0 0 rg BT 240.63 155.30 Td (Based ) Tj ET Q q 0 0 0 rg BT 268.44 155.30 Td (on ) Tj ET Q q 0 0 0 rg BT 281.07 155.30 Td (Atlas) Tj ET Q q 0 0 0 rg BT 304.76 155.30 Td ( ) Tj ET Q q 0 0 0 rg BT 308.14 155.30 Td (expectations ) Tj ET Q q 0 0 0 rg BT 361.49 155.30 Td (of ) Tj ET Q q 0 0 0 rg BT 373.19 155.30 Td (future ) Tj ET Q q 0 0 0 rg BT 400.44 155.30 Td (taxable ) Tj ET Q q 0 0 0 rg BT 432.68 155.30 Td (income, ) Tj ET Q q 0 0 0 rg BT 467.99 155.30 Td (its ) Tj ET Q q 0 0 0 rg BT 480.81 155.30 Td (ability ) Tj ET Q q 0 0 0 rg BT 509.73 155.30 Td (to ) Tj ET Q q 0 0 0 rg BT 520.88 155.30 Td (change ) Tj ET Q q 0 0 0 rg BT 552.57 155.30 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.30 Td (investment ) Tj ET Q q 0 0 0 rg BT 96.19 143.30 Td (strategy) Tj ET Q q 0 0 0 rg BT 127.19 143.30 Td (, ) Tj ET Q q 0 0 0 rg BT 132.00 143.30 Td (as ) Tj ET Q q 0 0 0 rg BT 142.63 143.30 Td (well ) Tj ET Q q 0 0 0 rg BT 162.15 143.30 Td (as ) Tj ET Q q 0 0 0 rg BT 172.78 143.30 Td (reversing ) Tj ET Q q 0 0 0 rg BT 212.29 143.30 Td (gross ) Tj ET Q q 0 0 0 rg BT 235.71 143.30 Td (future ) Tj ET Q q 0 0 0 rg BT 261.89 143.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 276.41 143.30 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 318.43 143.30 Td (management ) Tj ET Q q 0 0 0 rg BT 371.83 143.30 Td (believes ) Tj ET Q q 0 0 0 rg BT 406.89 143.30 Td (it ) Tj ET Q q 0 0 0 rg BT 414.75 143.30 Td (is ) Tj ET Q q 0 0 0 rg BT 423.73 143.30 Td (more ) Tj ET Q q 0 0 0 rg BT 446.58 143.30 Td (likely ) Tj ET Q q 0 0 0 rg BT 471.65 143.30 Td (than ) Tj ET Q q 0 0 0 rg BT 491.17 143.30 Td (not ) Tj ET Q q 0 0 0 rg BT 506.26 143.30 Td (that ) Tj ET Q q 0 0 0 rg BT 523.05 143.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 546.46 143.30 Td (will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.30 Td (fully ) Tj ET Q q 0 0 0 rg BT 71.73 131.30 Td (realize ) Tj ET Q q 0 0 0 rg BT 101.21 131.30 Td (the ) Tj ET Q q 0 0 0 rg BT 116.27 131.30 Td (net ) Tj ET Q q 0 0 0 rg BT 131.33 131.30 Td (future ) Tj ET Q q 0 0 0 rg BT 158.05 131.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 173.11 131.30 Td (assets. ) Tj ET Q q 0 0 0 rg BT 201.58 131.30 Td (The ) Tj ET Q q 0 0 0 rg BT 219.97 131.30 Td (Company) Tj ET Q q 0 0 0 rg BT 258.21 131.30 Td (, ) Tj ET Q q 0 0 0 rg BT 263.55 131.30 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 304.98 131.30 Td (has ) Tj ET Q q 0 0 0 rg BT 321.15 131.30 Td (released ) Tj ET Q q 0 0 0 rg BT 356.75 131.30 Td (its ) Tj ET Q q 0 0 0 rg BT 369.04 131.30 Td (remaining ) Tj ET Q q 0 0 0 rg BT 412.43 131.30 Td (valuation ) Tj ET Q q 0 0 0 rg BT 452.48 131.30 Td (allowance ) Tj ET Q q 0 0 0 rg BT 495.86 131.30 Td (at ) Tj ET Q q 0 0 0 rg BT 505.92 131.30 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.30 Td (2014.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.30 Td (On ) Tj ET Q q 0 0 0 rg BT 65.27 102.30 Td (July ) Tj ET Q q 0 0 0 rg BT 84.98 102.30 Td (22, ) Tj ET Q q 0 0 0 rg BT 100.53 102.30 Td (2013, ) Tj ET Q q 0 0 0 rg BT 126.08 102.30 Td (as ) Tj ET Q q 0 0 0 rg BT 137.45 102.30 Td (a ) Tj ET Q q 0 0 0 rg BT 144.94 102.30 Td (result ) Tj ET Q q 0 0 0 rg BT 170.20 102.30 Td (of ) Tj ET Q q 0 0 0 rg BT 181.57 102.30 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 231.27 102.30 Td (activity) Tj ET Q q 0 0 0 rg BT 260.61 102.30 Td (, ) Tj ET Q q 0 0 0 rg BT 266.15 102.30 Td (a ) Tj ET Q q 0 0 0 rg BT 273.64 102.30 Td ("triggering ) Tj ET Q q 0 0 0 rg BT 320.20 102.30 Td (event" ) Tj ET Q q 0 0 0 rg BT 348.98 102.30 Td (as ) Tj ET Q q 0 0 0 rg BT 360.36 102.30 Td (determined ) Tj ET Q q 0 0 0 rg BT 408.38 102.30 Td (under ) Tj ET Q q 0 0 0 rg BT 434.20 102.30 Td (Internal ) Tj ET Q q 0 0 0 rg BT 468.34 102.30 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 506.37 102.30 Td (Code ) Tj ET Q q 0 0 0 rg BT 530.52 102.30 Td (\("IRC"\) ) Tj ET Q q 0 0 0 rg BT 564.52 102.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.30 Td (Section ) Tj ET Q q 0 0 0 rg BT 81.92 90.30 Td (382 ) Tj ET Q q 0 0 0 rg BT 98.85 90.30 Td (was ) Tj ET Q q 0 0 0 rg BT 116.33 90.30 Td (reached. ) Tj ET Q q 0 0 0 rg BT 151.42 90.30 Td (As ) Tj ET Q q 0 0 0 rg BT 164.46 90.30 Td (a ) Tj ET Q q 0 0 0 rg BT 170.82 90.30 Td (result, ) Tj ET Q q 0 0 0 rg BT 197.47 90.30 Td (under ) Tj ET Q q 0 0 0 rg BT 222.16 90.30 Td (IRC ) Tj ET Q q 0 0 0 rg BT 240.76 90.30 Td (Section ) Tj ET Q q 0 0 0 rg BT 272.68 90.30 Td (382, ) Tj ET Q q 0 0 0 rg BT 292.11 90.30 Td (the ) Tj ET Q q 0 0 0 rg BT 306.26 90.30 Td (use ) Tj ET Q q 0 0 0 rg BT 321.51 90.30 Td (of ) Tj ET Q q 0 0 0 rg BT 331.77 90.30 Td (the ) Tj ET Q q 0 0 0 rg BT 345.92 90.30 Td (Company's ) Tj ET Q q 0 0 0 rg BT 392.42 90.30 Td (net ) Tj ET Q q 0 0 0 rg BT 406.57 90.30 Td (operating ) Tj ET Q q 0 0 0 rg BT 446.26 90.30 Td (loss ) Tj ET Q q 0 0 0 rg BT 463.75 90.30 Td (and ) Tj ET Q q 0 0 0 rg BT 480.12 90.30 Td (other ) Tj ET Q q 0 0 0 rg BT 502.59 90.30 Td (carry-forwards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.30 Td (will ) Tj ET Q q 0 0 0 rg BT 67.71 78.30 Td (be ) Tj ET Q q 0 0 0 rg BT 79.30 78.30 Td (limited ) Tj ET Q q 0 0 0 rg BT 109.78 78.30 Td (as ) Tj ET Q q 0 0 0 rg BT 120.26 78.30 Td (a ) Tj ET Q q 0 0 0 rg BT 126.85 78.30 Td (result ) Tj ET Q q 0 0 0 rg BT 151.22 78.30 Td (of ) Tj ET Q q 0 0 0 rg BT 161.70 78.30 Td (this ) Tj ET Q q 0 0 0 rg BT 178.30 78.30 Td ("ownership ) Tj ET Q q 0 0 0 rg BT 226.19 78.30 Td (change ) Tj ET Q q 0 0 0 rg BT 261.09 78.30 Td (for ) Tj ET Q q 0 0 0 rg BT 274.90 78.30 Td (tax ) Tj ET Q q 0 0 0 rg BT 289.27 78.30 Td (purposes, ) Tj ET Q q 0 0 0 rg BT 329.48 78.30 Td (which ) Tj ET Q q 0 0 0 rg BT 356.06 78.30 Td (is ) Tj ET Q q 0 0 0 rg BT 364.89 78.30 Td (defined ) Tj ET Q q 0 0 0 rg BT 397.02 78.30 Td (as ) Tj ET Q q 0 0 0 rg BT 407.50 78.30 Td (a ) Tj ET Q q 0 0 0 rg BT 414.09 78.30 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 460.67 78.30 Td (change ) Tj ET Q q 0 0 0 rg BT 491.14 78.30 Td (of ) Tj ET Q q 0 0 0 rg BT 501.62 78.30 Td (more ) Tj ET Q q 0 0 0 rg BT 524.32 78.30 Td (than ) Tj ET Q q 0 0 0 rg BT 543.68 78.30 Td (50% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.30 Td (during ) Tj ET Q q 0 0 0 rg BT 78.61 66.30 Td (any ) Tj ET Q q 0 0 0 rg BT 95.55 66.30 Td (three-year ) Tj ET Q q 0 0 0 rg BT 138.57 66.30 Td (period ) Tj ET Q q 0 0 0 rg BT 166.62 66.30 Td (by ) Tj ET Q q 0 0 0 rg BT 179.12 66.30 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 232.15 66.30 Td (of ) Tj ET Q q 0 0 0 rg BT 242.98 66.30 Td (the ) Tj ET Q q 0 0 0 rg BT 257.70 66.30 Td (Company's ) Tj ET Q q 0 0 0 rg BT 304.78 66.30 Td (shares. ) Tj ET Q endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Following ) Tj ET Q q 0 0 0 rg BT 93.02 742.10 Td (this ) Tj ET Q q 0 0 0 rg BT 109.38 742.10 Td (triggering ) Tj ET Q q 0 0 0 rg BT 150.71 742.10 Td (event, ) Tj ET Q q 0 0 0 rg BT 176.77 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.89 742.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 231.68 742.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 270.80 742.10 Td (that ) Tj ET Q q 0 0 0 rg BT 287.70 742.10 Td (it ) Tj ET Q q 0 0 0 rg BT 295.16 742.10 Td (will ) Tj ET Q q 0 0 0 rg BT 312.62 742.10 Td (retain ) Tj ET Q q 0 0 0 rg BT 337.29 742.10 Td (total ) Tj ET Q q 0 0 0 rg BT 356.97 742.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 371.09 742.10 Td (ef) Tj ET Q q 0 0 0 rg BT 378.68 742.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 405.00 742.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 434.66 742.10 Td (net ) Tj ET Q q 0 0 0 rg BT 448.78 742.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 488.45 742.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 505.92 742.10 Td (carryforwards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 730.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 121.09 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.59 730.10 Td ($14.2 ) Tj ET Q q 0 0 0 rg BT 148.59 730.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.48 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 179.98 730.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.70 730.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 248.28 730.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.28 730.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 713.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.61 713.10 Td (has ) Tj ET Q q 0 0 0 rg BT 89.44 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 104.16 713.10 Td (following ) Tj ET Q q 0 0 0 rg BT 145.54 713.10 Td (total ) Tj ET Q q 0 0 0 rg BT 165.82 713.10 Td (net ) Tj ET Q q 0 0 0 rg BT 180.53 713.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 220.80 713.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 238.86 713.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 297.44 713.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 713.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 365.74 713.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.74 713.10 Td (: ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 688.40 Td (Net Operating Loss Carryforward by Expiry \($ in '000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 682.60 230.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 682.60 227.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 682.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 652.60 230.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 652.60 227.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 652.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 622.60 230.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 622.60 227.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 622.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 592.60 230.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 592.60 227.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 592.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 562.60 230.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 562.60 227.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 562.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 532.60 230.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 532.60 227.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 532.60 45.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 682.6 m 280.5 682.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 667.6 m 280.5 667.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 682.6 m 507.5 682.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 667.6 m 507.5 667.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 682.6 m 552.5 682.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 667.6 m 552.5 667.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 667.6 m 280.5 667.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 667.6 m 507.5 667.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 667.6 m 552.5 667.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 532.6 m 280.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 532.6 m 507.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 532.6 m 552.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 532.6 m 280.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 518.6 m 280.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 516.6 m 280.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 532.6 m 507.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 518.6 m 507.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 516.6 m 507.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 532.6 m 552.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 518.6 m 552.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 516.6 m 552.5 516.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.05 672.27 Td (Year of Occurrence) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.50 672.27 Td (Year of Expiration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.10 672.27 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 657.27 Td (2001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 657.27 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 657.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 657.27 Td (7,734) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 642.27 Td (2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 642.27 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 642.27 Td (4,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 627.27 Td (2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 627.27 Td (2026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 627.27 Td (7,825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 612.27 Td (2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 612.27 Td (2027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 612.27 Td (5,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 597.27 Td (2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 597.27 Td (2028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 597.27 Td (1,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 582.27 Td (2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 582.27 Td (2029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 582.27 Td (1,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 567.27 Td (2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 567.27 Td (2030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 567.27 Td (1,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 552.27 Td (2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 552.27 Td (2031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 552.27 Td (8,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 537.27 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 537.27 Td (2032) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 537.27 Td (2,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 522.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 522.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.10 522.27 Td (41,801) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 501.10 Td (Assets ) Tj ET Q q 0 0 0 rg BT 79.17 501.10 Td (Held ) Tj ET Q q 0 0 0 rg BT 102.22 501.10 Td (for) Tj ET Q q 0 0 0 rg BT 114.81 501.10 Td ( ) Tj ET Q q 0 0 0 rg BT 117.31 501.10 Td (Sale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (On ) Tj ET Q q 0 0 0 rg BT 65.02 484.10 Td (May ) Tj ET Q q 0 0 0 rg BT 86.16 484.10 Td (22, ) Tj ET Q q 0 0 0 rg BT 101.46 484.10 Td (2012, ) Tj ET Q q 0 0 0 rg BT 126.14 484.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 150.06 484.10 Td (closed ) Tj ET Q q 0 0 0 rg BT 178.40 484.10 Td (the ) Tj ET Q q 0 0 0 rg BT 193.42 484.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 211.77 484.10 Td (of ) Tj ET Q q 0 0 0 rg BT 222.91 484.10 Td (the ) Tj ET Q q 0 0 0 rg BT 237.93 484.10 Td (headquarters ) Tj ET Q q 0 0 0 rg BT 291.81 484.10 Td (building ) Tj ET Q q 0 0 0 rg BT 327.95 484.10 Td (to ) Tj ET Q q 0 0 0 rg BT 338.53 484.10 Td (150 ) Tj ET Q q 0 0 0 rg BT 356.33 484.10 Td (Northwest ) Tj ET Q q 0 0 0 rg BT 400.80 484.10 Td (Point, ) Tj ET Q q 0 0 0 rg BT 427.22 484.10 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 451.41 484.10 Td (a ) Tj ET Q q 0 0 0 rg BT 458.65 484.10 Td (Delaware ) Tj ET Q q 0 0 0 rg BT 499.76 484.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 530.89 484.10 Td (liability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (company) Tj ET Q q 0 0 0 rg BT 86.01 472.10 Td (. ) Tj ET Q q 0 0 0 rg BT 90.74 472.10 Td ( ) Tj ET Q q 0 0 0 rg BT 92.48 472.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 115.82 472.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 161.92 472.10 Td (a ) Tj ET Q q 0 0 0 rg BT 168.59 472.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 188.04 472.10 Td (on ) Tj ET Q q 0 0 0 rg BT 200.28 472.10 Td (the ) Tj ET Q q 0 0 0 rg BT 214.73 472.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 232.51 472.10 Td (of ) Tj ET Q q 0 0 0 rg BT 243.07 472.10 Td (this ) Tj ET Q q 0 0 0 rg BT 259.75 472.10 Td (property ) Tj ET Q q 0 0 0 rg BT 295.86 472.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.43 472.10 Td ($213,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.93 472.10 Td (, ) Tj ET Q q 0 0 0 rg BT 348.66 472.10 Td (which ) Tj ET Q q 0 0 0 rg BT 375.33 472.10 Td (will ) Tj ET Q q 0 0 0 rg BT 393.13 472.10 Td (be ) Tj ET Q q 0 0 0 rg BT 404.80 472.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 440.34 472.10 Td (and ) Tj ET Q q 0 0 0 rg BT 457.01 472.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 503.11 472.10 Td (over ) Tj ET Q q 0 0 0 rg BT 523.11 472.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.56 472.10 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.56 472.10 Td ( ) Tj ET Q q 0 0 0 rg BT 544.79 472.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 72.76 460.10 Td (term. ) Tj ET Q q 0 0 0 rg BT 96.37 460.10 Td ( ) Tj ET Q q 0 0 0 rg BT 98.53 460.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 122.42 460.10 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.05 460.10 Td ($43,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.55 460.10 Td ( ) Tj ET Q q 0 0 0 rg BT 204.33 460.10 Td (as ) Tj ET Q q 0 0 0 rg BT 215.44 460.10 Td (an ) Tj ET Q q 0 0 0 rg BT 227.66 460.10 Td (of) Tj ET Q q 0 0 0 rg BT 235.80 460.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 253.02 460.10 Td (to ) Tj ET Q q 0 0 0 rg BT 263.58 460.10 Td (rent ) Tj ET Q q 0 0 0 rg BT 281.90 460.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 316.88 460.10 Td (for ) Tj ET Q q 0 0 0 rg BT 331.32 460.10 Td (both ) Tj ET Q q 0 0 0 rg BT 351.88 460.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.87 460.10 Td (years ) Tj ET Q q 0 0 0 rg BT 390.75 460.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 417.40 460.10 Td (December ) Tj ET Q q 0 0 0 rg BT 461.26 460.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 476.54 460.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 499.32 460.10 Td (and ) Tj ET Q q 0 0 0 rg BT 516.53 460.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.53 460.10 Td (. ) Tj ET Q q 0 0 0 rg BT 541.61 460.10 Td (T) Tj ET Q q 0 0 0 rg BT 547.02 460.10 Td (otal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (rental ) Tj ET Q q 0 0 0 rg BT 75.11 448.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 109.67 448.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 155.89 448.10 Td (on ) Tj ET Q q 0 0 0 rg BT 168.24 448.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.81 448.10 Td (headquarters ) Tj ET Q q 0 0 0 rg BT 236.24 448.10 Td (building ) Tj ET Q q 0 0 0 rg BT 271.93 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 274.28 448.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.18 448.10 Td ($707,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.68 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 332.03 448.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.82 448.10 Td ($699,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.32 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 388.67 448.10 Td (for ) Tj ET Q q 0 0 0 rg BT 402.68 448.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.25 448.10 Td (years ) Tj ET Q q 0 0 0 rg BT 440.70 448.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 466.93 448.10 Td (December ) Tj ET Q q 0 0 0 rg BT 510.36 448.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 525.21 448.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 547.57 448.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 436.10 Td (, ) Tj ET Q q 0 0 0 rg BT 74.40 436.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 122.06 436.10 Td (. ) Tj ET Q q 0 0 0 rg BT 126.33 436.10 Td (There ) Tj ET Q q 0 0 0 rg BT 151.54 436.10 Td (are ) Tj ET Q q 0 0 0 rg BT 165.65 436.10 Td (two ) Tj ET Q q 0 0 0 rg BT 182.56 436.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 224.44 436.10 Td (located ) Tj ET Q q 0 0 0 rg BT 255.22 436.10 Td (in ) Tj ET Q q 0 0 0 rg BT 264.48 436.10 Td (Alabama ) Tj ET Q q 0 0 0 rg BT 302.47 436.10 Td (which ) Tj ET Q q 0 0 0 rg BT 328.81 436.10 Td (are ) Tj ET Q q 0 0 0 rg BT 342.92 436.10 Td (for ) Tj ET Q q 0 0 0 rg BT 356.48 436.10 Td (sale. ) Tj ET Q q 0 0 0 rg BT 376.43 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 378.20 436.10 Td (These ) Tj ET Q q 0 0 0 rg BT 403.98 436.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 445.86 436.10 Td (are ) Tj ET Q q 0 0 0 rg BT 459.97 436.10 Td (listed ) Tj ET Q q 0 0 0 rg BT 483.54 436.10 Td (for ) Tj ET Q q 0 0 0 rg BT 497.10 436.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 514.55 436.10 Td (for ) Tj ET Q q 0 0 0 rg BT 528.11 436.10 Td (amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 80.25 424.10 Td (than ) Tj ET Q q 0 0 0 rg BT 99.97 424.10 Td (carried ) Tj ET Q q 0 0 0 rg BT 130.22 424.10 Td (values. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 407.10 Td (Claims ) Tj ET Q q 0 0 0 rg BT 82.50 407.10 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.24 390.10 Td (table ) Tj ET Q q 0 0 0 rg BT 88.37 390.10 Td (below ) Tj ET Q q 0 0 0 rg BT 114.50 390.10 Td (shows ) Tj ET Q q 0 0 0 rg BT 141.20 390.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.11 390.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 190.69 390.10 Td (of ) Tj ET Q q 0 0 0 rg BT 200.71 390.10 Td (total ) Tj ET Q q 0 0 0 rg BT 220.18 390.10 Td (case ) Tj ET Q q 0 0 0 rg BT 239.08 390.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 273.53 390.10 Td (and ) Tj ET Q q 0 0 0 rg BT 289.66 390.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 324.67 390.10 Td (but ) Tj ET Q q 0 0 0 rg BT 339.14 390.10 Td (not ) Tj ET Q q 0 0 0 rg BT 353.61 390.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 388.62 390.10 Td (\(IBNR\) ) Tj ET Q q 0 0 0 rg BT 429.75 390.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 457.54 390.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 497.01 390.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 390.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 378.10 Td ( ) Tj ET Q q 0 0 0 rg BT 73.20 378.10 Td (and ) Tj ET Q q 0 0 0 rg BT 90.84 378.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.26 378.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 160.55 378.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.55 378.10 Td (. ) Tj ET Q q 0 0 0 rg BT 186.02 378.10 Td (The ) Tj ET Q q 0 0 0 rg BT 204.77 378.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 245.75 378.10 Td (for ) Tj ET Q q 0 0 0 rg BT 260.61 378.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 291.03 378.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 320.33 378.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 361.29 378.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.49 378.10 Td (1.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.32 378.10 Td ( ) Tj ET Q q 0 0 0 rg BT 398.53 378.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.51 378.10 Td ($102.4 ) Tj ET Q q 0 0 0 rg BT 440.21 378.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.10 378.10 Td ( ) Tj ET Q q 0 0 0 rg BT 472.30 378.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.72 378.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 542.01 378.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.01 378.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 91.63 366.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.61 366.10 Td ($101.4 ) Tj ET Q q 0 0 0 rg BT 131.32 366.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.21 366.10 Td ( ) Tj ET Q q 0 0 0 rg BT 162.41 366.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.83 366.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 230.12 366.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.12 366.10 Td (. ) Tj ET Q q 0 0 0 rg BT 254.83 366.10 Td (During ) Tj ET Q q 0 0 0 rg BT 285.36 366.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.78 366.10 Td (year ) Tj ET Q q 0 0 0 rg BT 319.19 366.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 345.28 366.10 Td (December ) Tj ET Q q 0 0 0 rg BT 388.56 366.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 403.27 366.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.27 366.10 Td (, ) Tj ET Q q 0 0 0 rg BT 427.97 366.10 Td (case ) Tj ET Q q 0 0 0 rg BT 447.39 366.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 482.35 366.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 523.97 366.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.17 366.10 Td (18.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.00 366.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 90.93 354.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.22 354.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 157.82 354.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.82 354.10 Td (, ) Tj ET Q q 0 0 0 rg BT 181.83 354.10 Td (while ) Tj ET Q q 0 0 0 rg BT 205.55 354.10 Td (IBNR ) Tj ET Q q 0 0 0 rg BT 230.96 354.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 265.23 354.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 304.49 354.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.00 354.10 Td (56.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.83 354.10 Td ( ) Tj ET Q q 0 0 0 rg BT 343.34 354.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 382.05 354.10 Td (due ) Tj ET Q q 0 0 0 rg BT 398.00 354.10 Td (to ) Tj ET Q q 0 0 0 rg BT 407.29 354.10 Td (the ) Tj ET Q q 0 0 0 rg BT 421.02 354.10 Td (consolidation ) Tj ET Q q 0 0 0 rg BT 476.41 354.10 Td (of ) Tj ET Q q 0 0 0 rg BT 486.25 354.10 Td (its ) Tj ET Q q 0 0 0 rg BT 497.21 354.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 527.58 354.10 Td (balances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 342.10 Td (the ) Tj ET Q q 0 0 0 rg BT 81.66 342.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 116.91 342.10 Td (in ) Tj ET Q q 0 0 0 rg BT 127.19 342.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 169.68 342.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 198.83 342.10 Td (in ) Tj ET Q q 0 0 0 rg BT 209.11 342.10 Td (our ) Tj ET Q q 0 0 0 rg BT 224.94 342.10 Td (core ) Tj ET Q q 0 0 0 rg BT 244.64 342.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 294.34 342.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 315.73 342.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.56 342.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 365.45 342.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 317.35 Td (Pr) Tj ET Q q 0 0 0 rg BT 61.37 317.35 Td (ovision for) Tj ET Q q 0 0 0 rg BT 106.46 317.35 Td ( Unpaid Claims by ) Tj ET Q q 0 0 0 rg BT 188.53 317.35 Td (T) Tj ET Q q 0 0 0 rg BT 194.46 317.35 Td (ype - Gr) Tj ET Q q 0 0 0 rg BT 229.82 317.35 Td (oss of Reinsurance \($ in '000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 311.60 334.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 311.60 65.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 311.60 65.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 311.60 45.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 264.60 334.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 264.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 264.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 264.60 45.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 311.6 m 450.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 279.6 m 450.5 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 311.6 m 515.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 279.6 m 515.5 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 311.6 m 560.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 279.6 m 560.5 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 279.6 m 450.5 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 279.6 m 515.5 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 279.6 m 560.5 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 249.60000000000002 m 450.5 249.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 249.60000000000002 m 515.5 249.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 249.60000000000002 m 560.5 249.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 234.60000000000002 m 450.5 234.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 249.60000000000002 m 515.5 249.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 234.60000000000002 m 515.5 234.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 234.60000000000002 m 560.5 234.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 284.28 Td (At December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.50 295.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.50 295.28 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.05 302.83 Td (YTD%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.35 294.83 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 269.27 Td (Case reserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 269.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 269.27 Td (61,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 269.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 269.27 Td (75,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.45 269.27 Td (\(18.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.30 269.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 254.27 Td (IBNR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 254.27 Td (40,842) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 254.27 Td (26,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.80 254.27 Td (56.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.65 254.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 239.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 239.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 239.27 Td (102,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 239.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 239.27 Td (101,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.80 239.27 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.65 239.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 215.35 Td (Pr) Tj ET Q q 0 0 0 rg BT 61.37 215.35 Td (ovision for) Tj ET Q q 0 0 0 rg BT 106.46 215.35 Td ( Unpaid Claims by Line of Business Gr) Tj ET Q q 0 0 0 rg BT 280.21 215.35 Td (oss of Reinsurance \($ in '000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 209.60 334.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 209.60 65.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 209.60 65.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 209.60 45.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 162.60 334.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 162.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 162.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 162.60 45.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 209.60000000000002 m 450.5 209.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 177.60000000000002 m 450.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 209.60000000000002 m 515.5 209.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 177.60000000000002 m 515.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 209.60000000000002 m 560.5 209.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 177.60000000000002 m 560.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 177.60000000000002 m 450.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 177.60000000000002 m 515.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 177.60000000000002 m 560.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 147.60000000000002 m 450.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 147.60000000000002 m 515.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 147.60000000000002 m 560.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 133.60000000000002 m 450.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 131.60000000000002 m 450.5 131.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 133.60000000000002 m 515.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 131.60000000000002 m 515.5 131.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 133.60000000000002 m 560.5 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 131.60000000000002 m 560.5 131.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 182.28 Td (At December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.50 193.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.50 193.28 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.05 200.83 Td (YTD%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.35 192.83 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 167.27 Td (Commercial auto liability and auto physical damage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 167.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 167.27 Td (87,123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 167.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 167.27 Td (80,903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.80 167.27 Td (7.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.65 167.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 152.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.15 152.27 Td (15,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 152.27 Td (20,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.45 152.27 Td (\(25.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.30 152.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 137.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.00 137.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.15 137.27 Td (102,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 137.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 137.27 Td (101,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.80 137.27 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.65 137.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 108.35 Td (Pr) Tj ET Q q 0 0 0 rg BT 60.37 108.35 Td (ovision for) Tj ET Q q 0 0 0 rg BT 105.46 108.35 Td ( Unpaid Claims by Line of Business - Net of Reinsurance Recoverables \($ in '000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 102.60 334.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 102.60 65.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 102.60 65.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 102.60 45.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 70.60 334.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 70.60 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 70.60 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 70.60 45.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 102.60000000000002 m 449.5 102.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 82.60000000000002 m 449.5 82.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 102.60000000000002 m 514.5 102.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 82.60000000000002 m 514.5 82.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 102.60000000000002 m 559.5 102.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 82.60000000000002 m 559.5 82.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 82.60000000000002 m 449.5 82.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 82.60000000000002 m 514.5 82.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 82.60000000000002 m 559.5 82.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 58.60000000000002 m 449.5 58.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 58.60000000000002 m 514.5 58.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 47.60000000000002 m 449.5 47.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 45.60000000000002 m 449.5 45.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 47.60000000000002 m 514.5 47.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449.5 45.60000000000002 m 514.5 45.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 58.60000000000002 m 559.5 58.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 47.60000000000002 m 559.5 47.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 45.60000000000002 m 559.5 45.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 87.28 Td (At December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.50 93.33 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 93.33 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.05 94.68 Td (YTD%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.35 86.68 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 73.22 Td (Commercial auto liability and auto physical damage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 73.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.15 73.22 Td (82,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 73.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 73.22 Td (76,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 73.22 Td (7.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 73.22 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 61.22 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 61.22 Td (1,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 61.22 Td (6,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.45 61.22 Td (\(71.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.30 61.22 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 49.22 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 49.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.15 49.22 Td (84,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.00 49.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 49.22 Td (83,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 49.22 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 49.22 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.48 742.10 Td (other ) Tj ET Q q 0 0 0 rg BT 91.96 742.10 Td (line ) Tj ET Q q 0 0 0 rg BT 109.89 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 121.15 742.10 Td (business ) Tj ET Q q 0 0 0 rg BT 157.98 742.10 Td (is ) Tj ET Q q 0 0 0 rg BT 167.58 742.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 212.17 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 222.79 742.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 246.48 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 249.42 742.10 Td (surety ) Tj ET Q q 0 0 0 rg BT 276.79 742.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 316.11 742.10 Td (Gateway's ) Tj ET Q q 0 0 0 rg BT 360.28 742.10 Td (truck ) Tj ET Q q 0 0 0 rg BT 383.76 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 401.13 742.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 438.08 742.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 496.55 742.10 Td (programs, ) Tj ET Q q 0 0 0 rg BT 539.11 742.10 Td (Atlas' ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (non-standard ) Tj ET Q q 0 0 0 rg BT 104.71 730.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 141.08 730.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 162.47 730.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 200.81 730.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 226.22 730.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 262.73 730.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 320.78 730.10 Td (related ) Tj ET Q q 0 0 0 rg BT 350.48 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 360.76 730.10 Td (taxi, ) Tj ET Q q 0 0 0 rg BT 380.75 730.10 Td (other ) Tj ET Q q 0 0 0 rg BT 403.80 730.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 437.41 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 454.35 730.10 Td (assigned ) Tj ET Q q 0 0 0 rg BT 491.28 730.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 508.78 730.10 Td (business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 713.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.29 713.10 Td (surety ) Tj ET Q q 0 0 0 rg BT 95.48 713.10 Td (program ) Tj ET Q q 0 0 0 rg BT 132.10 713.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 172.05 713.10 Td (consists ) Tj ET Q q 0 0 0 rg BT 206.46 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 217.54 713.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 238.06 713.10 Td (Customs ) Tj ET Q q 0 0 0 rg BT 275.82 713.10 Td (bonds. ) Tj ET Q q 0 0 0 rg BT 304.75 713.10 Td (W) Tj ET Q q 0 0 0 rg BT 313.39 713.10 Td (e ) Tj ET Q q 0 0 0 rg BT 320.57 713.10 Td (engage ) Tj ET Q q 0 0 0 rg BT 351.63 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 358.81 713.10 Td (former ) Tj ET Q q 0 0 0 rg BT 388.76 713.10 Td (af) Tj ET Q q 0 0 0 rg BT 396.35 713.10 Td (filiate, ) Tj ET Q q 0 0 0 rg BT 424.31 713.10 Td (A) Tj ET Q q 0 0 0 rg BT 430.79 713.10 Td (valon ) Tj ET Q q 0 0 0 rg BT 455.75 713.10 Td (Risk ) Tj ET Q q 0 0 0 rg BT 476.83 713.10 Td (Management, ) Tj ET Q q 0 0 0 rg BT 534.28 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 544.80 713.10 Td (help ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 701.10 Td (coordinate ) Tj ET Q q 0 0 0 rg BT 95.47 701.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 135.39 701.10 Td (service ) Tj ET Q q 0 0 0 rg BT 166.97 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 184.67 701.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 210.15 701.10 Td (handling ) Tj ET Q q 0 0 0 rg BT 248.41 701.10 Td (for ) Tj ET Q q 0 0 0 rg BT 263.34 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 278.82 701.10 Td (surety ) Tj ET Q q 0 0 0 rg BT 306.52 701.10 Td (bonds ) Tj ET Q q 0 0 0 rg BT 333.68 701.10 Td (written. ) Tj ET Q q 0 0 0 rg BT 367.54 701.10 Td (This ) Tj ET Q q 0 0 0 rg BT 388.58 701.10 Td (non-core ) Tj ET Q q 0 0 0 rg BT 427.38 701.10 Td (program ) Tj ET Q q 0 0 0 rg BT 464.53 701.10 Td (is ) Tj ET Q q 0 0 0 rg BT 474.46 701.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 501.06 701.10 Td (reinsured ) Tj ET Q q 0 0 0 rg BT 541.53 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 552.57 701.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 689.10 Td (unrelated ) Tj ET Q q 0 0 0 rg BT 89.25 689.10 Td (third ) Tj ET Q q 0 0 0 rg BT 110.18 689.10 Td (party ) Tj ET Q q 0 0 0 rg BT 132.78 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 149.26 689.10 Td (is ) Tj ET Q q 0 0 0 rg BT 157.98 689.10 Td (being ) Tj ET Q q 0 0 0 rg BT 182.25 689.10 Td (transitioned ) Tj ET Q q 0 0 0 rg BT 231.50 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 241.33 689.10 Td (another ) Tj ET Q q 0 0 0 rg BT 273.36 689.10 Td (carrier) Tj ET Q q 0 0 0 rg BT 298.90 689.10 Td (. ) Tj ET Q q 0 0 0 rg BT 303.44 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 305.49 689.10 Td (No ) Tj ET Q q 0 0 0 rg BT 319.76 689.10 Td (new ) Tj ET Q q 0 0 0 rg BT 338.47 689.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 376.62 689.10 Td (will ) Tj ET Q q 0 0 0 rg BT 394.22 689.10 Td (be ) Tj ET Q q 0 0 0 rg BT 405.71 689.10 Td (written ) Tj ET Q q 0 0 0 rg BT 436.08 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 445.91 689.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 491.82 689.10 Td (with ) Tj ET Q q 0 0 0 rg BT 511.65 689.10 Td (this ) Tj ET Q q 0 0 0 rg BT 528.15 689.10 Td (program ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 677.10 Td (2015. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 660.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.05 660.10 Td (non-standard ) Tj ET Q q 0 0 0 rg BT 122.76 660.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 159.14 660.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 180.52 660.10 Td (business ) Tj ET Q q 0 0 0 rg BT 216.91 660.10 Td (was ) Tj ET Q q 0 0 0 rg BT 234.97 660.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 256.35 660.10 Td (transitioned ) Tj ET Q q 0 0 0 rg BT 306.06 660.10 Td (from ) Tj ET Q q 0 0 0 rg BT 328.00 660.10 Td (the ) Tj ET Q q 0 0 0 rg BT 342.72 660.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 384.11 660.10 Td (during ) Tj ET Q q 0 0 0 rg BT 412.71 660.10 Td (2012.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 643.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.62 643.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 105.23 643.10 Td (truck ) Tj ET Q q 0 0 0 rg BT 127.86 643.10 Td (and ) Tj ET Q q 0 0 0 rg BT 144.37 643.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 180.46 643.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 238.08 643.10 Td (programs ) Tj ET Q q 0 0 0 rg BT 277.92 643.10 Td (were ) Tj ET Q q 0 0 0 rg BT 299.42 643.10 Td (put ) Tj ET Q q 0 0 0 rg BT 314.28 643.10 Td (into ) Tj ET Q q 0 0 0 rg BT 331.91 643.10 Td (run-of) Tj ET Q q 0 0 0 rg BT 356.72 643.10 Td (f ) Tj ET Q q 0 0 0 rg BT 362.12 643.10 Td (during ) Tj ET Q q 0 0 0 rg BT 390.31 643.10 Td (2012. ) Tj ET Q q 0 0 0 rg BT 414.88 643.10 Td ( ) Tj ET Q q 0 0 0 rg BT 416.81 643.10 Td (The ) Tj ET Q q 0 0 0 rg BT 434.43 643.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 470.52 643.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 528.14 643.10 Td (program ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.10 Td (is ) Tj ET Q q 0 0 0 rg BT 59.17 631.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 85.00 631.10 Td (reinsured ) Tj ET Q q 0 0 0 rg BT 124.71 631.10 Td (retrospectively ) Tj ET Q q 0 0 0 rg BT 186.63 631.10 Td (and ) Tj ET Q q 0 0 0 rg BT 203.56 631.10 Td (prospectively ) Tj ET Q q 0 0 0 rg BT 259.94 631.10 Td (to ) Tj ET Q q 0 0 0 rg BT 270.21 631.10 Td (an ) Tj ET Q q 0 0 0 rg BT 282.15 631.10 Td (unrelated ) Tj ET Q q 0 0 0 rg BT 321.86 631.10 Td (third ) Tj ET Q q 0 0 0 rg BT 343.24 631.10 Td (party) Tj ET Q q 0 0 0 rg BT 363.14 631.10 Td (. ) Tj ET Q q 0 0 0 rg BT 368.14 631.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 614.10 Td (Claims ) Tj ET Q q 0 0 0 rg BT 83.13 614.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 125.14 614.10 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.60 614.10 Td (The ) Tj ET Q q 0 0 0 rg BT 150.27 614.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 185.60 614.10 Td (in ) Tj ET Q q 0 0 0 rg BT 196.50 614.10 Td (the ) Tj ET Q q 0 0 0 rg BT 211.85 614.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 252.75 614.10 Td (for ) Tj ET Q q 0 0 0 rg BT 267.53 614.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 297.88 614.10 Td (claims, ) Tj ET Q q 0 0 0 rg BT 329.60 614.10 Td (net ) Tj ET Q q 0 0 0 rg BT 344.95 614.10 Td (of ) Tj ET Q q 0 0 0 rg BT 356.40 614.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 393.41 614.10 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 443.17 614.10 Td (from ) Tj ET Q q 0 0 0 rg BT 465.73 614.10 Td (reinsurers, ) Tj ET Q q 0 0 0 rg BT 510.79 614.10 Td (for ) Tj ET Q q 0 0 0 rg BT 525.57 614.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.91 614.10 Td (years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 602.10 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.88 602.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 602.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 134.96 602.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 602.10 Td ( ) Tj ET Q q 0 0 0 rg BT 157.46 602.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.40 602.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 232.98 602.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.98 602.10 Td ( ) Tj ET Q q 0 0 0 rg BT 255.48 602.10 Td (were ) Tj ET Q q 0 0 0 rg BT 277.41 602.10 Td (as ) Tj ET Q q 0 0 0 rg BT 288.24 602.10 Td (follows ) Tj ET Q q 0 0 0 rg BT 320.74 602.10 Td (\($ ) Tj ET Q q 0 0 0 rg BT 331.57 602.10 Td (in ) Tj ET Q q 0 0 0 rg BT 341.85 602.10 Td ('000's\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 586.60 363.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 586.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 586.60 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 586.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 557.60 363.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 557.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 557.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 557.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 527.60 363.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 527.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 527.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 527.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 497.60 363.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 497.60 72.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 497.60 5.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 497.60 72.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 478.60 363.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 478.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 478.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 478.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 448.60 363.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 448.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 448.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 448.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 418.60 363.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 418.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 418.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 418.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 388.60 363.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 388.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 388.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 388.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 368.60 363.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 368.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 368.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 368.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 338.60 363.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 338.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 338.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 338.60 72.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 572.6 m 485.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 572.6 m 490.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 572.6 m 562.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 572.6 m 485.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 572.6 m 490.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 572.6 m 562.5 572.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 542.6 m 485.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 542.6 m 490.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 542.6 m 562.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 542.6 m 485.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 542.6 m 490.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 542.6 m 562.5 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 448.6 m 485.5 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 448.6 m 490.5 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 448.6 m 562.5 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 448.6 m 485.5 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 448.6 m 490.5 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 448.6 m 562.5 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 388.6 m 485.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 388.6 m 490.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 388.6 m 562.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 388.6 m 485.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 388.6 m 490.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 388.6 m 562.5 388.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 338.6 m 485.5 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 338.6 m 490.5 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 338.6 m 562.5 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 338.6 m 485.5 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 324.6 m 485.5 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 322.6 m 485.5 322.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 338.6 m 490.5 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 324.6 m 490.5 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 322.6 m 490.5 322.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 338.6 m 562.5 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 324.6 m 562.5 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 322.6 m 562.5 322.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 577.28 Td (For the year ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.00 577.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.00 577.28 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 562.27 Td (Unpaid claims, beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 562.27 Td (101,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 562.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 562.27 Td (70,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 547.27 Td (Less: reinsurance recoverable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 547.27 Td (18,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 547.27 Td (5,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 532.27 Td (Net beginning unpaid claims reserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 532.27 Td (83,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 532.27 Td (64,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 517.27 Td (Net reserves acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 517.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 517.27 Td (29,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 502.27 Td (Loss portfolio transfer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 502.27 Td (2,415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 502.32 Td (\(5,919) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 502.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 483.27 Td (Incurred related to:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 468.27 Td (Current year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 468.27 Td (61,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 468.27 Td (45,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 453.27 Td (Prior years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 453.32 Td (\(602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 453.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 453.27 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 438.27 Td (61,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 438.27 Td (45,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 423.27 Td (Paid related to:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 408.27 Td (Current year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 408.27 Td (19,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 408.27 Td (12,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 393.27 Td (Prior years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 393.27 Td (43,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 393.27 Td (37,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 378.27 Td (62,725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 378.27 Td (50,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 358.27 Td (Net unpaid claims, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 358.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 358.27 Td (84,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 358.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 358.27 Td (83,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 343.27 Td (Add: reinsurance recoverable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 343.27 Td (18,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 343.27 Td (18,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 328.27 Td (Unpaid claims, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 328.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 328.27 Td (102,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 328.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 328.27 Td (101,385) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.06 307.10 Td (process ) Tj ET Q q 0 0 0 rg BT 100.56 307.10 Td (of ) Tj ET Q q 0 0 0 rg BT 111.40 307.10 Td (establishing ) Tj ET Q q 0 0 0 rg BT 161.68 307.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.41 307.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 217.24 307.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 257.52 307.10 Td (for ) Tj ET Q q 0 0 0 rg BT 271.69 307.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 301.42 307.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 330.03 307.10 Td (is ) Tj ET Q q 0 0 0 rg BT 339.21 307.10 Td (complex ) Tj ET Q q 0 0 0 rg BT 376.16 307.10 Td (and ) Tj ET Q q 0 0 0 rg BT 393.11 307.10 Td (imprecise, ) Tj ET Q q 0 0 0 rg BT 436.99 307.10 Td (as ) Tj ET Q q 0 0 0 rg BT 447.83 307.10 Td (it ) Tj ET Q q 0 0 0 rg BT 455.89 307.10 Td (relies ) Tj ET Q q 0 0 0 rg BT 480.06 307.10 Td (on ) Tj ET Q q 0 0 0 rg BT 492.57 307.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.29 307.10 Td (judgment ) Tj ET Q q 0 0 0 rg BT 547.58 307.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (opinions ) Tj ET Q q 0 0 0 rg BT 86.62 295.10 Td (of ) Tj ET Q q 0 0 0 rg BT 97.11 295.10 Td (a ) Tj ET Q q 0 0 0 rg BT 103.72 295.10 Td (lar) Tj ET Q q 0 0 0 rg BT 114.08 295.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 125.69 295.10 Td (number ) Tj ET Q q 0 0 0 rg BT 158.40 295.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.90 295.10 Td (individuals, ) Tj ET Q q 0 0 0 rg BT 218.01 295.10 Td (on ) Tj ET Q q 0 0 0 rg BT 230.18 295.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 269.56 295.10 Td (precedent ) Tj ET Q q 0 0 0 rg BT 310.59 295.10 Td (and ) Tj ET Q q 0 0 0 rg BT 327.19 295.10 Td (trends, ) Tj ET Q q 0 0 0 rg BT 356.30 295.10 Td (on ) Tj ET Q q 0 0 0 rg BT 368.46 295.10 Td (prevailing ) Tj ET Q q 0 0 0 rg BT 411.17 295.10 Td (legal, ) Tj ET Q q 0 0 0 rg BT 435.27 295.10 Td (economic, ) Tj ET Q q 0 0 0 rg BT 478.81 295.10 Td (social ) Tj ET Q q 0 0 0 rg BT 504.30 295.10 Td (and ) Tj ET Q q 0 0 0 rg BT 520.91 295.10 Td (regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 76.59 283.10 Td (and ) Tj ET Q q 0 0 0 rg BT 93.17 283.10 Td (on ) Tj ET Q q 0 0 0 rg BT 105.32 283.10 Td (expectations ) Tj ET Q q 0 0 0 rg BT 157.45 283.10 Td (as ) Tj ET Q q 0 0 0 rg BT 167.93 283.10 Td (to ) Tj ET Q q 0 0 0 rg BT 177.86 283.10 Td (future ) Tj ET Q q 0 0 0 rg BT 203.88 283.10 Td (developments. ) Tj ET Q q 0 0 0 rg BT 263.92 283.10 Td (The ) Tj ET Q q 0 0 0 rg BT 281.61 283.10 Td (process ) Tj ET Q q 0 0 0 rg BT 313.75 283.10 Td (of ) Tj ET Q q 0 0 0 rg BT 324.23 283.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 374.70 283.10 Td (the ) Tj ET Q q 0 0 0 rg BT 389.06 283.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 428.99 283.10 Td (necessarily ) Tj ET Q q 0 0 0 rg BT 475.56 283.10 Td (involves ) Tj ET Q q 0 0 0 rg BT 511.60 283.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 532.64 283.10 Td (that ) Tj ET Q q 0 0 0 rg BT 549.78 283.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 76.34 271.10 Td (results ) Tj ET Q q 0 0 0 rg BT 104.92 271.10 Td (will ) Tj ET Q q 0 0 0 rg BT 122.94 271.10 Td (deviate, ) Tj ET Q q 0 0 0 rg BT 156.78 271.10 Td (perhaps ) Tj ET Q q 0 0 0 rg BT 190.35 271.10 Td (substantially) Tj ET Q q 0 0 0 rg BT 240.25 271.10 Td (, ) Tj ET Q q 0 0 0 rg BT 245.22 271.10 Td (from ) Tj ET Q q 0 0 0 rg BT 267.13 271.10 Td (the ) Tj ET Q q 0 0 0 rg BT 281.81 271.10 Td (best ) Tj ET Q q 0 0 0 rg BT 300.39 271.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 340.07 271.10 Td (made. ) Tj ET Q q 0 0 0 rg BT 366.69 271.10 Td ( ) Tj ET Q q 0 0 0 rg BT 368.98 271.10 Td (The ) Tj ET Q q 0 0 0 rg BT 387.00 271.10 Td (change ) Tj ET Q q 0 0 0 rg BT 417.78 271.10 Td (to ) Tj ET Q q 0 0 0 rg BT 428.03 271.10 Td (the ) Tj ET Q q 0 0 0 rg BT 442.71 271.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 482.96 271.10 Td (for ) Tj ET Q q 0 0 0 rg BT 497.09 271.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 526.77 271.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 555.34 271.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 91.71 259.10 Td (with ) Tj ET Q q 0 0 0 rg BT 111.20 259.10 Td (the ) Tj ET Q q 0 0 0 rg BT 125.13 259.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 159.05 259.10 Td (in ) Tj ET Q q 0 0 0 rg BT 168.54 259.10 Td (written ) Tj ET Q q 0 0 0 rg BT 198.58 259.10 Td (premium. ) Tj ET Q q 0 0 0 rg BT 238.90 259.10 Td ( ) Tj ET Q q 0 0 0 rg BT 240.62 259.10 Td ( ) Tj ET Q q 0 0 0 rg BT 242.33 259.10 Td (However) Tj ET Q q 0 0 0 rg BT 278.58 259.10 Td (, ) Tj ET Q q 0 0 0 rg BT 282.79 259.10 Td (because ) Tj ET Q q 0 0 0 rg BT 316.15 259.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.08 259.10 Td (establishment ) Tj ET Q q 0 0 0 rg BT 386.79 259.10 Td (of ) Tj ET Q q 0 0 0 rg BT 396.83 259.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 431.30 259.10 Td (is ) Tj ET Q q 0 0 0 rg BT 439.69 259.10 Td (an ) Tj ET Q q 0 0 0 rg BT 450.84 259.10 Td (inherently ) Tj ET Q q 0 0 0 rg BT 493.10 259.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 532.01 259.10 Td (process ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (involving ) Tj ET Q q 0 0 0 rg BT 91.09 247.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 133.55 247.10 Td (current ) Tj ET Q q 0 0 0 rg BT 164.62 247.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 209.04 247.10 Td (may ) Tj ET Q q 0 0 0 rg BT 229.01 247.10 Td (not ) Tj ET Q q 0 0 0 rg BT 244.54 247.10 Td (be ) Tj ET Q q 0 0 0 rg BT 256.74 247.10 Td (suf) Tj ET Q q 0 0 0 rg BT 268.78 247.10 Td (ficient. ) Tj ET Q q 0 0 0 rg BT 298.96 247.10 Td (Adjustments ) Tj ET Q q 0 0 0 rg BT 352.27 247.10 Td (to ) Tj ET Q q 0 0 0 rg BT 362.81 247.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 400.82 247.10 Td (both ) Tj ET Q q 0 0 0 rg BT 421.35 247.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 455.77 247.10 Td (and ) Tj ET Q q 0 0 0 rg BT 472.96 247.10 Td (negative, ) Tj ET Q q 0 0 0 rg BT 512.08 247.10 Td (are ) Tj ET Q q 0 0 0 rg BT 527.04 247.10 Td (reflected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.10 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 88.59 235.10 Td (in ) Tj ET Q q 0 0 0 rg BT 98.87 235.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.59 235.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 154.41 235.10 Td (of ) Tj ET Q q 0 0 0 rg BT 165.24 235.10 Td (income ) Tj ET Q q 0 0 0 rg BT 197.17 235.10 Td (as ) Tj ET Q q 0 0 0 rg BT 208.00 235.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 247.71 235.10 Td (are ) Tj ET Q q 0 0 0 rg BT 262.42 235.10 Td (updated. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.16 211.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 105.75 211.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 150.57 211.10 Td (are ) Tj ET Q q 0 0 0 rg BT 165.38 211.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 206.31 211.10 Td (on ) Tj ET Q q 0 0 0 rg BT 218.92 211.10 Td (a ) Tj ET Q q 0 0 0 rg BT 225.96 211.10 Td (calendar ) Tj ET Q q 0 0 0 rg BT 262.43 211.10 Td (year ) Tj ET Q q 0 0 0 rg BT 282.25 211.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 304.86 211.10 Td (for ) Tj ET Q q 0 0 0 rg BT 319.13 211.10 Td (all ) Tj ET Q q 0 0 0 rg BT 331.73 211.10 Td (data. ) Tj ET Q q 0 0 0 rg BT 353.50 211.10 Td (Claims ) Tj ET Q q 0 0 0 rg BT 384.44 211.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 425.37 211.10 Td (and ) Tj ET Q q 0 0 0 rg BT 442.42 211.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 477.24 211.10 Td (in ) Tj ET Q q 0 0 0 rg BT 487.62 211.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 525.49 211.10 Td (however) Tj ET Q q 0 0 0 rg BT 559.52 211.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.10 Td (may ) Tj ET Q q 0 0 0 rg BT 69.14 199.10 Td (be ) Tj ET Q q 0 0 0 rg BT 80.51 199.10 Td (made ) Tj ET Q q 0 0 0 rg BT 104.09 199.10 Td (on ) Tj ET Q q 0 0 0 rg BT 116.02 199.10 Td (accidents ) Tj ET Q q 0 0 0 rg BT 155.15 199.10 Td (that ) Tj ET Q q 0 0 0 rg BT 172.07 199.10 Td (occurred ) Tj ET Q q 0 0 0 rg BT 208.98 199.10 Td (in ) Tj ET Q q 0 0 0 rg BT 218.68 199.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 240.05 199.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 265.58 199.10 Td (not ) Tj ET Q q 0 0 0 rg BT 280.28 199.10 Td (solely ) Tj ET Q q 0 0 0 rg BT 306.10 199.10 Td (on ) Tj ET Q q 0 0 0 rg BT 318.02 199.10 Td (business ) Tj ET Q q 0 0 0 rg BT 353.84 199.10 Td (that ) Tj ET Q q 0 0 0 rg BT 370.77 199.10 Td (is ) Tj ET Q q 0 0 0 rg BT 379.36 199.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 417.39 199.10 Td (insured. ) Tj ET Q q 0 0 0 rg BT 451.25 199.10 Td (Calendar ) Tj ET Q q 0 0 0 rg BT 489.27 199.10 Td (year ) Tj ET Q q 0 0 0 rg BT 508.41 199.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 534.23 199.10 Td (consist ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.01 187.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 100.02 187.10 Td (and ) Tj ET Q q 0 0 0 rg BT 116.14 187.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 146.69 187.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 180.57 187.10 Td (that ) Tj ET Q q 0 0 0 rg BT 197.25 187.10 Td (have ) Tj ET Q q 0 0 0 rg BT 217.81 187.10 Td (been ) Tj ET Q q 0 0 0 rg BT 238.37 187.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 275.02 187.10 Td (in ) Tj ET Q q 0 0 0 rg BT 284.48 187.10 Td (the ) Tj ET Q q 0 0 0 rg BT 298.38 187.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 335.04 187.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 378.94 187.10 Td (during ) Tj ET Q q 0 0 0 rg BT 406.72 187.10 Td (the ) Tj ET Q q 0 0 0 rg BT 420.62 187.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 463.39 187.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 501.73 187.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 531.46 187.10 Td (without ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.10 Td (regard ) Tj ET Q q 0 0 0 rg BT 78.01 175.10 Td (to ) Tj ET Q q 0 0 0 rg BT 88.26 175.10 Td (the ) Tj ET Q q 0 0 0 rg BT 102.95 175.10 Td (period ) Tj ET Q q 0 0 0 rg BT 130.97 175.10 Td (in ) Tj ET Q q 0 0 0 rg BT 141.22 175.10 Td (which ) Tj ET Q q 0 0 0 rg BT 168.13 175.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.82 175.10 Td (accident ) Tj ET Q q 0 0 0 rg BT 218.61 175.10 Td (occurred. ) Tj ET Q q 0 0 0 rg BT 258.56 175.10 Td (Calendar ) Tj ET Q q 0 0 0 rg BT 297.12 175.10 Td (year ) Tj ET Q q 0 0 0 rg BT 316.80 175.10 Td (results ) Tj ET Q q 0 0 0 rg BT 345.39 175.10 Td (do ) Tj ET Q q 0 0 0 rg BT 357.86 175.10 Td (not ) Tj ET Q q 0 0 0 rg BT 373.11 175.10 Td (change ) Tj ET Q q 0 0 0 rg BT 403.90 175.10 Td (after ) Tj ET Q q 0 0 0 rg BT 424.69 175.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.38 175.10 Td (end ) Tj ET Q q 0 0 0 rg BT 456.29 175.10 Td (of ) Tj ET Q q 0 0 0 rg BT 467.09 175.10 Td (the ) Tj ET Q q 0 0 0 rg BT 481.78 175.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 525.34 175.10 Td (reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 80.38 163.10 Td (even ) Tj ET Q q 0 0 0 rg BT 101.59 163.10 Td (as ) Tj ET Q q 0 0 0 rg BT 112.26 163.10 Td (new ) Tj ET Q q 0 0 0 rg BT 131.25 163.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 155.80 163.10 Td (information ) Tj ET Q q 0 0 0 rg BT 205.34 163.10 Td (develops. ) Tj ET Q q 0 0 0 rg BT 245.72 163.10 Td ( ) Tj ET Q q 0 0 0 rg BT 247.54 163.10 Td (Accident ) Tj ET Q q 0 0 0 rg BT 285.97 163.10 Td (year ) Tj ET Q q 0 0 0 rg BT 305.51 163.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 331.74 163.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 361.85 163.10 Td (of ) Tj ET Q q 0 0 0 rg BT 372.51 163.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 413.17 163.10 Td (and ) Tj ET Q q 0 0 0 rg BT 429.94 163.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 461.15 163.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 495.69 163.10 Td (that ) Tj ET Q q 0 0 0 rg BT 513.02 163.10 Td (are ) Tj ET Q q 0 0 0 rg BT 527.56 163.10 Td (assigned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.16 151.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.76 151.10 Td (period ) Tj ET Q q 0 0 0 rg BT 102.69 151.10 Td (in ) Tj ET Q q 0 0 0 rg BT 112.85 151.10 Td (which ) Tj ET Q q 0 0 0 rg BT 139.67 151.10 Td (the ) Tj ET Q q 0 0 0 rg BT 154.27 151.10 Td (accident ) Tj ET Q q 0 0 0 rg BT 189.97 151.10 Td (occurred. ) Tj ET Q q 0 0 0 rg BT 229.30 151.10 Td (Accident ) Tj ET Q q 0 0 0 rg BT 267.77 151.10 Td (year ) Tj ET Q q 0 0 0 rg BT 287.36 151.10 Td (results ) Tj ET Q q 0 0 0 rg BT 315.86 151.10 Td (will ) Tj ET Q q 0 0 0 rg BT 333.80 151.10 Td (change ) Tj ET Q q 0 0 0 rg BT 364.49 151.10 Td (over ) Tj ET Q q 0 0 0 rg BT 384.65 151.10 Td (time ) Tj ET Q q 0 0 0 rg BT 404.80 151.10 Td (as ) Tj ET Q q 0 0 0 rg BT 415.51 151.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.11 151.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 469.71 151.10 Td (of ) Tj ET Q q 0 0 0 rg BT 480.42 151.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 506.70 151.10 Td (change ) Tj ET Q q 0 0 0 rg BT 537.39 151.10 Td (due ) Tj ET Q q 0 0 0 rg BT 554.22 151.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 90.83 139.10 Td (and ) Tj ET Q q 0 0 0 rg BT 107.76 139.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 139.13 139.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 173.84 139.10 Td (for ) Tj ET Q q 0 0 0 rg BT 188.00 139.10 Td (all ) Tj ET Q q 0 0 0 rg BT 200.49 139.10 Td (accidents ) Tj ET Q q 0 0 0 rg BT 240.20 139.10 Td (that ) Tj ET Q q 0 0 0 rg BT 257.69 139.10 Td (occurred ) Tj ET Q q 0 0 0 rg BT 295.17 139.10 Td (during ) Tj ET Q q 0 0 0 rg BT 323.77 139.10 Td (that ) Tj ET Q q 0 0 0 rg BT 341.27 139.10 Td (period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.56 115.10 Td (table ) Tj ET Q q 0 0 0 rg BT 89.01 115.10 Td (below ) Tj ET Q q 0 0 0 rg BT 115.47 115.10 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 165.25 115.10 Td (the ) Tj ET Q q 0 0 0 rg BT 179.48 115.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 213.71 115.10 Td (over ) Tj ET Q q 0 0 0 rg BT 233.49 115.10 Td (time ) Tj ET Q q 0 0 0 rg BT 253.28 115.10 Td (in ) Tj ET Q q 0 0 0 rg BT 263.08 115.10 Td (the ) Tj ET Q q 0 0 0 rg BT 277.31 115.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 317.10 115.10 Td (for ) Tj ET Q q 0 0 0 rg BT 330.78 115.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 360.01 115.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 377.59 115.10 Td (and ) Tj ET Q q 0 0 0 rg BT 394.05 115.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 411.63 115.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 457.52 115.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 497.99 115.10 Td (The ) Tj ET Q q 0 0 0 rg BT 515.56 115.10 Td (first ) Tj ET Q q 0 0 0 rg BT 533.68 115.10 Td (section ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.05 103.10 Td (the ) Tj ET Q q 0 0 0 rg BT 76.00 103.10 Td (table ) Tj ET Q q 0 0 0 rg BT 98.15 103.10 Td (shows ) Tj ET Q q 0 0 0 rg BT 125.88 103.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.83 103.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 181.33 103.10 Td (for ) Tj ET Q q 0 0 0 rg BT 195.71 103.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 225.65 103.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 243.94 103.10 Td (and ) Tj ET Q q 0 0 0 rg BT 261.10 103.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 279.39 103.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 326.00 103.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 364.82 103.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 402.52 103.10 Td (at ) Tj ET Q q 0 0 0 rg BT 412.46 103.10 Td (the ) Tj ET Q q 0 0 0 rg BT 427.40 103.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 460.66 103.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 483.93 103.10 Td (date ) Tj ET Q q 0 0 0 rg BT 503.31 103.10 Td (for ) Tj ET Q q 0 0 0 rg BT 517.70 103.10 Td (each ) Tj ET Q q 0 0 0 rg BT 538.74 103.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 103.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 91.10 Td (indicated ) Tj ET Q q 0 0 0 rg BT 88.28 91.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 113.40 91.10 Td (The ) Tj ET Q q 0 0 0 rg BT 130.57 91.10 Td (original ) Tj ET Q q 0 0 0 rg BT 163.31 91.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 202.72 91.10 Td (for ) Tj ET Q q 0 0 0 rg BT 216.01 91.10 Td (each ) Tj ET Q q 0 0 0 rg BT 235.96 91.10 Td (year ) Tj ET Q q 0 0 0 rg BT 254.80 91.10 Td (is ) Tj ET Q q 0 0 0 rg BT 263.10 91.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 303.05 91.10 Td (on ) Tj ET Q q 0 0 0 rg BT 314.68 91.10 Td (a ) Tj ET Q q 0 0 0 rg BT 320.75 91.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 343.50 91.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 365.13 91.10 Td (as ) Tj ET Q q 0 0 0 rg BT 375.09 91.10 Td (well ) Tj ET Q q 0 0 0 rg BT 393.94 91.10 Td (as ) Tj ET Q q 0 0 0 rg BT 403.91 91.10 Td (net ) Tj ET Q q 0 0 0 rg BT 417.75 91.10 Td (of ) Tj ET Q q 0 0 0 rg BT 427.72 91.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 467.67 91.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 515.39 91.10 Td (recoverable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.59 79.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 92.40 79.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 110.55 79.10 Td (and ) Tj ET Q q 0 0 0 rg BT 127.58 79.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 145.74 79.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 192.21 79.10 Td (expenses.The ) Tj ET Q q 0 0 0 rg BT 248.95 79.10 Td (second ) Tj ET Q q 0 0 0 rg BT 279.31 79.10 Td (section ) Tj ET Q q 0 0 0 rg BT 310.23 79.10 Td (displays ) Tj ET Q q 0 0 0 rg BT 345.60 79.10 Td (the ) Tj ET Q q 0 0 0 rg BT 360.40 79.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 407.42 79.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 440.01 79.10 Td (of ) Tj ET Q q 0 0 0 rg BT 450.93 79.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 491.85 79.10 Td (made ) Tj ET Q q 0 0 0 rg BT 516.10 79.10 Td (through ) Tj ET Q q 0 0 0 rg BT 549.80 79.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.10 Td (end ) Tj ET Q q 0 0 0 rg BT 66.84 67.10 Td (of ) Tj ET Q q 0 0 0 rg BT 77.57 67.10 Td (each ) Tj ET Q q 0 0 0 rg BT 98.28 67.10 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 145.12 67.10 Td (year ) Tj ET Q q 0 0 0 rg BT 164.72 67.10 Td (with ) Tj ET Q q 0 0 0 rg BT 184.90 67.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 215.62 67.10 Td (to ) Tj ET Q q 0 0 0 rg BT 225.79 67.10 Td (each ) Tj ET Q q 0 0 0 rg BT 246.51 67.10 Td (original ) Tj ET Q q 0 0 0 rg BT 280.01 67.10 Td (provision. ) Tj ET Q q 0 0 0 rg BT 322.51 67.10 Td (The ) Tj ET Q q 0 0 0 rg BT 340.46 67.10 Td (third ) Tj ET Q q 0 0 0 rg BT 361.74 67.10 Td (section ) Tj ET Q q 0 0 0 rg BT 392.47 67.10 Td (presents ) Tj ET Q q 0 0 0 rg BT 427.64 67.10 Td (the ) Tj ET Q q 0 0 0 rg BT 442.25 67.10 Td (re-estimation ) Tj ET Q q 0 0 0 rg BT 497.41 67.10 Td (over ) Tj ET Q q 0 0 0 rg BT 517.58 67.10 Td (subsequent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 55.10 Td (years ) Tj ET Q q 0 0 0 rg BT 73.65 55.10 Td (of ) Tj ET Q q 0 0 0 rg BT 84.53 55.10 Td (each ) Tj ET Q q 0 0 0 rg BT 105.39 55.10 Td (year) Tj ET Q q 0 0 0 rg BT 122.97 55.10 Td () Tj ET Q q 0 0 0 rg BT 125.75 55.10 Td (s ) Tj ET Q q 0 0 0 rg BT 132.19 55.10 Td (original ) Tj ET Q q 0 0 0 rg BT 165.84 55.10 Td (net ) Tj ET Q q 0 0 0 rg BT 180.61 55.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 214.26 55.10 Td (for ) Tj ET Q q 0 0 0 rg BT 228.47 55.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 258.24 55.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 276.35 55.10 Td (and ) Tj ET Q q 0 0 0 rg BT 293.33 55.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 311.45 55.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 357.88 55.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 396.52 55.10 Td (as ) Tj ET Q q 0 0 0 rg BT 407.40 55.10 Td (more ) Tj ET Q q 0 0 0 rg BT 430.50 55.10 Td (information ) Tj ET Q q 0 0 0 rg BT 480.26 55.10 Td (becomes ) Tj ET Q q 0 0 0 rg BT 517.79 55.10 Td (known ) Tj ET Q q 0 0 0 rg BT 547.56 55.10 Td (and ) Tj ET Q endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 76.81 742.10 Td (become ) Tj ET Q q 0 0 0 rg BT 110.27 742.10 Td (more ) Tj ET Q q 0 0 0 rg BT 133.19 742.10 Td (apparent. ) Tj ET Q q 0 0 0 rg BT 172.31 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 190.23 742.10 Td (final ) Tj ET Q q 0 0 0 rg BT 210.93 742.10 Td (section ) Tj ET Q q 0 0 0 rg BT 241.62 742.10 Td (compares ) Tj ET Q q 0 0 0 rg BT 282.31 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 296.90 742.10 Td (latest ) Tj ET Q q 0 0 0 rg BT 320.37 742.10 Td (re-estimation ) Tj ET Q q 0 0 0 rg BT 375.50 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 385.65 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 400.24 742.10 Td (original ) Tj ET Q q 0 0 0 rg BT 433.71 742.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 469.40 742.10 Td (for ) Tj ET Q q 0 0 0 rg BT 483.43 742.10 Td (each ) Tj ET Q q 0 0 0 rg BT 504.12 742.10 Td (year ) Tj ET Q q 0 0 0 rg BT 523.70 742.10 Td (presented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.00 730.10 Td (table ) Tj ET Q q 0 0 0 rg BT 96.93 730.10 Td (on ) Tj ET Q q 0 0 0 rg BT 109.43 730.10 Td (both ) Tj ET Q q 0 0 0 rg BT 129.71 730.10 Td (a ) Tj ET Q q 0 0 0 rg BT 136.65 730.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 160.26 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 177.20 730.10 Td (net ) Tj ET Q q 0 0 0 rg BT 191.91 730.10 Td (basis. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.18 706.10 Td (development ) Tj ET Q q 0 0 0 rg BT 122.47 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 133.44 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 148.29 706.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 188.71 706.10 Td (for ) Tj ET Q q 0 0 0 rg BT 203.00 706.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 232.86 706.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 251.05 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 268.13 706.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 286.33 706.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 332.85 706.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 371.58 706.10 Td (is ) Tj ET Q q 0 0 0 rg BT 380.89 706.10 Td (shown ) Tj ET Q q 0 0 0 rg BT 409.64 706.10 Td (by ) Tj ET Q q 0 0 0 rg BT 422.28 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.13 706.10 Td (dif) Tj ET Q q 0 0 0 rg BT 448.06 706.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 480.11 706.10 Td (between ) Tj ET Q q 0 0 0 rg BT 516.06 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.91 706.10 Td (original ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 89.98 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 107.18 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 122.16 694.10 Td (re-estimated ) Tj ET Q q 0 0 0 rg BT 174.34 694.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 214.32 694.10 Td (at ) Tj ET Q q 0 0 0 rg BT 224.30 694.10 Td (each ) Tj ET Q q 0 0 0 rg BT 245.38 694.10 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 292.58 694.10 Td (year) Tj ET Q q 0 0 0 rg BT 309.59 694.10 Td (-end. ) Tj ET Q q 0 0 0 rg BT 332.42 694.10 Td (The ) Tj ET Q q 0 0 0 rg BT 350.73 694.10 Td (re-estimated ) Tj ET Q q 0 0 0 rg BT 402.92 694.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 442.90 694.10 Td (at ) Tj ET Q q 0 0 0 rg BT 452.88 694.10 Td (each ) Tj ET Q q 0 0 0 rg BT 473.96 694.10 Td (year) Tj ET Q q 0 0 0 rg BT 490.96 694.10 Td (-end ) Tj ET Q q 0 0 0 rg BT 511.49 694.10 Td (are ) Tj ET Q q 0 0 0 rg BT 526.47 694.10 Td (based ) Tj ET Q q 0 0 0 rg BT 552.00 694.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 76.73 682.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 117.91 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 128.55 682.10 Td (full ) Tj ET Q q 0 0 0 rg BT 145.29 682.10 Td (or ) Tj ET Q q 0 0 0 rg BT 156.48 682.10 Td (partial ) Tj ET Q q 0 0 0 rg BT 184.88 682.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 228.84 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 240.03 682.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 268.99 682.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 288.52 682.10 Td (re-estimates ) Tj ET Q q 0 0 0 rg BT 339.68 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 350.87 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 365.95 682.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 407.13 682.10 Td (required ) Tj ET Q q 0 0 0 rg BT 443.30 682.10 Td (for ) Tj ET Q q 0 0 0 rg BT 457.82 682.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 486.78 682.10 Td (still ) Tj ET Q q 0 0 0 rg BT 504.65 682.10 Td (open ) Tj ET Q q 0 0 0 rg BT 526.94 682.10 Td (or ) Tj ET Q q 0 0 0 rg BT 538.13 682.10 Td (IBNR ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (claims. ) Tj ET Q q 0 0 0 rg BT 82.67 670.10 Td (Favorable ) Tj ET Q q 0 0 0 rg BT 126.71 670.10 Td (development ) Tj ET Q q 0 0 0 rg BT 182.42 670.10 Td (\(redundancy\) ) Tj ET Q q 0 0 0 rg BT 239.79 670.10 Td (means ) Tj ET Q q 0 0 0 rg BT 269.40 670.10 Td (that ) Tj ET Q q 0 0 0 rg BT 288.46 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 304.73 670.10 Td (original ) Tj ET Q q 0 0 0 rg BT 339.90 670.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 382.28 670.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 424.12 670.10 Td (was ) Tj ET Q q 0 0 0 rg BT 443.73 670.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 473.34 670.10 Td (than ) Tj ET Q q 0 0 0 rg BT 494.62 670.10 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 550.90 670.10 Td (re-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (estimated. ) Tj ET Q q 0 0 0 rg BT 93.85 658.10 Td (Unfavorable ) Tj ET Q q 0 0 0 rg BT 146.86 658.10 Td (development ) Tj ET Q q 0 0 0 rg BT 201.54 658.10 Td (\(deficiency\) ) Tj ET Q q 0 0 0 rg BT 252.88 658.10 Td (means ) Tj ET Q q 0 0 0 rg BT 281.46 658.10 Td (that ) Tj ET Q q 0 0 0 rg BT 299.48 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 314.73 658.10 Td (original ) Tj ET Q q 0 0 0 rg BT 348.87 658.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 390.22 658.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 431.03 658.10 Td (was ) Tj ET Q q 0 0 0 rg BT 449.61 658.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 475.42 658.10 Td (than ) Tj ET Q q 0 0 0 rg BT 495.66 658.10 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 550.91 658.10 Td (re-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (estimated. ) Tj ET Q q 0 0 0 rg BT 93.14 646.10 Td (The ) Tj ET Q q 0 0 0 rg BT 111.19 646.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 158.12 646.10 Td (development ) Tj ET Q q 0 0 0 rg BT 212.27 646.10 Td (represents ) Tj ET Q q 0 0 0 rg BT 255.30 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 270.02 646.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 311.38 646.10 Td (change ) Tj ET Q q 0 0 0 rg BT 342.20 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 352.48 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 367.19 646.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 406.90 646.10 Td (over ) Tj ET Q q 0 0 0 rg BT 427.17 646.10 Td (all ) Tj ET Q q 0 0 0 rg BT 439.67 646.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 461.61 646.10 Td (years. ) Tj ET Q endstream endobj 97 0 obj <> endobj 98 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 739.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 60.37 739.25 Td (ovision ) Tj ET Q q 0 0 0 rg BT 92.88 739.25 Td (for) Tj ET Q q 0 0 0 rg BT 105.46 739.25 Td ( ) Tj ET Q q 0 0 0 rg BT 107.96 739.25 Td (Unpaid ) Tj ET Q q 0 0 0 rg BT 142.15 739.25 Td (Claims, ) Tj ET Q q 0 0 0 rg BT 177.15 739.25 Td (Net ) Tj ET Q q 0 0 0 rg BT 194.64 739.25 Td (of ) Tj ET Q q 0 0 0 rg BT 205.47 739.25 Td (Recoveries ) Tj ET Q q 0 0 0 rg BT 254.05 739.25 Td (fr) Tj ET Q q 0 0 0 rg BT 261.64 739.25 Td (om ) Tj ET Q q 0 0 0 rg BT 277.47 739.25 Td (Reinsur) Tj ET Q q 0 0 0 rg BT 311.18 739.25 Td (ers ) Tj ET Q q 0 0 0 rg BT 326.45 739.25 Td (as ) Tj ET Q q 0 0 0 rg BT 337.84 739.25 Td (of ) Tj ET Q q 0 0 0 rg BT 348.67 739.25 Td (December) Tj ET Q q 0 0 0 rg BT 391.80 739.25 Td ( ) Tj ET Q q 0 0 0 rg BT 394.30 739.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 409.30 739.25 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 727.25 Td ( ) Tj ET Q q 0 0 0 rg BT 52.50 727.25 Td (\($ ) Tj ET Q q 0 0 0 rg BT 63.33 727.25 Td (in ) Tj ET Q q 0 0 0 rg BT 74.17 727.25 Td (000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 721.50 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 721.50 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 721.50 41.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 721.50 41.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 721.50 41.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 721.50 41.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 721.50 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 721.50 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 721.50 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 721.50 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 721.50 42.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 697.50 41.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 697.50 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 697.50 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 697.50 41.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 697.50 41.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 697.50 41.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 697.50 41.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 697.50 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 697.50 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 697.50 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 697.50 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 697.50 42.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 673.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 673.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 673.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 673.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 673.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 673.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 673.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 673.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 673.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 673.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 673.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 673.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 653.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 653.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 653.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 653.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 653.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 653.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 653.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 653.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 653.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 653.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 653.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 653.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 633.50 84.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 633.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 633.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 633.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 633.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 633.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 633.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 633.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 633.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 633.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 633.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 613.50 170.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 613.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 613.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 613.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 613.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 613.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 613.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 613.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 613.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 593.50 252.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 593.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 593.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 593.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 593.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 593.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 593.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 573.50 337.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 573.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 573.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 573.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 573.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 553.50 425.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 553.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 553.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 533.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 533.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 533.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 533.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 533.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 533.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 533.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 533.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 533.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 533.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 533.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 533.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 513.50 84.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 513.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 513.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 513.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 513.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 513.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 513.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 513.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 513.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 513.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 513.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 493.50 170.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 493.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 493.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 493.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 493.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 493.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 493.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 493.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 493.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 473.50 252.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 473.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 473.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 473.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 473.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 473.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 473.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 453.50 337.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 453.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 453.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 453.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 453.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 433.50 425.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 433.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 433.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 413.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 413.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 413.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 413.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 413.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 413.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 413.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 413.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 413.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 413.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 413.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 413.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 393.50 84.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 393.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 393.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 393.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 393.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 393.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 393.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 393.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 393.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 393.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 393.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 373.50 170.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 373.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 373.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 373.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 373.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 373.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 373.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 373.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 373.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 353.50 252.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 353.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 353.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 353.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 353.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 353.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 353.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 333.50 337.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 333.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 333.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 333.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 333.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 313.50 425.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 313.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 313.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 293.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 293.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 293.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 293.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 293.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 293.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 293.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 293.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 293.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 293.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 293.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 293.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 273.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 273.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 273.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 273.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 273.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 273.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 273.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 273.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 273.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 273.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 273.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 273.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 253.50 129.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 253.50 41.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 253.50 41.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 253.50 41.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 253.50 41.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 253.50 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 253.50 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 253.50 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 253.50 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 253.50 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 231.50 84.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 231.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 231.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 231.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 231.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 231.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 231.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 231.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 231.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 231.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 231.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 207.50 84.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 207.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 207.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 207.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 207.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 207.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 207.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 207.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 207.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 207.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 207.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 187.50 84.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 187.50 45.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 187.50 41.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 187.50 41.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 187.50 41.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 187.50 41.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 187.50 44.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 187.50 44.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 187.50 44.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 187.50 45.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 187.50 42.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 166.50 84.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 166.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 166.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 166.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 166.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 166.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 166.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 166.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 166.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 166.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 166.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 146.50 84.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 146.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 146.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 146.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 146.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 146.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 146.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 146.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 146.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 146.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 146.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 126.50 84.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.50 126.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 126.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 126.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.50 126.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.50 126.50 41.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 126.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 126.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 126.50 44.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 126.50 45.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 126.50 42.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 106.50 470.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 106.50 42.00 -10.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 91.5 721.5 m 134.5 721.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 91.5 707.5 m 134.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 721.5 m 179.5 721.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134.5 707.5 m 179.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 179.5 721.5 m 220.5 721.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 179.5 707.5 m 220.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 721.5 m 261.5 721.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220.5 707.5 m 261.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 721.5 m 302.5 721.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 707.5 m 302.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 721.5 m 343.5 721.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302.5 707.5 m 343.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 721.5 m 387.5 721.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 707.5 m 387.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 721.5 m 431.5 721.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 707.5 m 431.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 721.5 m 475.5 721.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 707.5 m 475.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 721.5 m 520.5 721.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 707.5 m 520.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 721.5 m 562.5 721.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 707.5 m 562.5 707.5 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 103.50 712.45 Td (2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 147.50 712.45 Td (2013) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 189.90 712.45 Td (2012 ) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 210.15 716.53 Td (\(1\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 231.50 712.45 Td (2011) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 272.50 712.45 Td (2010) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 313.50 712.45 Td (2009) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 356.90 712.45 Td (2008 ) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 377.15 716.53 Td (\(2\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 400.00 712.45 Td (2007) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 444.00 712.45 Td (2006) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 488.50 712.45 Td (2005) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 532.00 712.45 Td (2004) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 699.63 Td (Gross reserves for unpaid claims and claims expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 101.00 687.75 Td ($102,430) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.00 687.75 Td ($101,385) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 187.00 687.75 Td ($106,275) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.00 687.75 Td ($91,643) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.00 687.75 Td ($132,578) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.00 687.75 Td ($179,054) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.00 687.75 Td ($173,652) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.00 687.75 Td ($183,649) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.00 687.75 Td ($191,171) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.00 687.75 Td ($202,677) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.00 687.75 Td ($195,437) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 675.63 Td (Less: Reinsurance recoverable on unpaid claims and claims expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 109.00 665.50 Td (18,421) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.00 665.50 Td (18,144) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.00 665.50 Td (11,965) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 240.00 665.50 Td (7,824) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.00 665.50 Td (6,477) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.00 665.50 Td (5,196) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.00 665.50 Td (103,612) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.00 665.50 Td (107,837) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.00 665.50 Td (111,911) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 665.50 Td (95,215) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 665.50 Td (90,596) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 655.63 Td (Reserve for unpaid claims and claims expenses, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 109.00 645.50 Td (84,009) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.00 645.50 Td (83,241) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.00 645.50 Td (94,310) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.00 645.50 Td (83,819) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.00 645.50 Td (126,101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 645.50 Td (173,858) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 645.50 Td (70,040) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 645.50 Td (75,812) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 645.50 Td (79,260) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.00 645.50 Td (107,462) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.00 645.50 Td (104,841) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 635.63 Td (Cumulative paid on originally established reserve as of:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 625.50 Td (One year later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 150.00 625.50 Td ($43,298) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.00 625.50 Td ($37,888) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.00 625.50 Td ($37,052) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.00 625.50 Td ($58,562) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 625.50 Td ($76,835) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.65 625.50 Td ($\(38,449\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.00 625.50 Td ($29,811) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.00 625.50 Td ($29,917) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.00 625.50 Td ($30,637) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.00 625.50 Td ($37,220) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 615.50 Td (Two years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.00 615.50 Td (65,533) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.00 615.50 Td (57,047) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.00 615.50 Td (87,803) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 615.50 Td (125,455) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 615.50 Td (13,573) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.00 615.50 Td (2,812) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 615.50 Td (49,804) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 615.50 Td (52,182) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 615.50 Td (56,126) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 605.50 Td (Three years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.00 605.50 Td (69,840) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.00 605.50 Td (103,939) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 605.50 Td (149,800) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 605.50 Td (43,671) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 605.50 Td (38,650) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 605.50 Td (33,742) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 605.50 Td (66,806) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 605.50 Td (69,801) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 595.50 Td (Four years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.00 595.50 Td (114,428) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 595.50 Td (162,221) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 595.50 Td (59,181) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 595.50 Td (59,370) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 595.50 Td (57,853) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 595.50 Td (60,877) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 595.50 Td (78,028) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 585.50 Td (Five years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 585.50 Td (170,892) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 585.50 Td (66,934) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 585.50 Td (70,075) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 585.50 Td (69,428) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 585.50 Td (75,935) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 585.50 Td (76,174) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 575.50 Td (Six years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 575.50 Td (71,982) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 575.50 Td (74,843) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 575.50 Td (73,803) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 575.50 Td (81,347) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 575.50 Td (85,150) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 565.50 Td (Seven years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 565.50 Td (78,400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 565.50 Td (76,485) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 565.50 Td (83,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 565.50 Td (88,755) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 555.50 Td (Eight years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 555.50 Td (78,330) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 555.50 Td (84,916) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 555.50 Td (89,698) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 545.50 Td (Nine years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 545.50 Td (86,416) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 545.50 Td (91,042) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 535.50 Td (Ten years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 535.50 Td (92,126) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 515.63 Td (Unpaid claims as of:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 505.50 Td (One year later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 150.00 505.50 Td ($41,756) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.00 505.50 Td ($56,431) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.00 505.50 Td ($46,983) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.00 505.50 Td ($69,230) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.00 505.50 Td ($102,173) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.00 505.50 Td ($114,284) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.00 505.50 Td ($46,338) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.00 505.50 Td ($50,772) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.00 505.50 Td ($76,344) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.00 505.50 Td ($62,895) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 495.50 Td (Two years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.00 495.50 Td (27,966) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.00 495.50 Td (25,913) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.00 495.50 Td (35,206) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.00 495.50 Td (56,268) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 495.50 Td (65,101) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 495.50 Td (75,258) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 495.50 Td (31,322) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 495.50 Td (56,428) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 495.50 Td (46,081) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 485.50 Td (Three years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.00 485.50 Td (10,771) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.00 485.50 Td (21,124) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.00 485.50 Td (29,375) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 485.50 Td (35,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 485.50 Td (43,336) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 485.50 Td (46,116) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 485.50 Td (43,015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 485.50 Td (34,082) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 475.50 Td (Four years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.00 475.50 Td (8,966) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.00 475.50 Td (18,229) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 475.50 Td (17,139) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 475.50 Td (21,859) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 475.50 Td (25,534) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 475.50 Td (26,714) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 475.50 Td (26,833) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 465.50 Td (Five years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.00 465.50 Td (7,892) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 465.50 Td (10,489) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.00 465.50 Td (9,910) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 465.50 Td (11,061) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 465.50 Td (15,329) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 465.50 Td (14,797) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 455.50 Td (Six years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.00 455.50 Td (5,043) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.00 455.50 Td (6,063) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.00 455.50 Td (5,523) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.00 455.50 Td (6,712) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.00 455.50 Td (9,359) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 445.50 Td (Seven years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.00 445.50 Td (2,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.00 445.50 Td (3,046) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.00 445.50 Td (3,948) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.00 445.50 Td (4,339) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 435.50 Td (Eight years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.00 435.50 Td (1,805) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.00 435.50 Td (2,622) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.00 435.50 Td (2,751) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 425.50 Td (Nine years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.00 425.50 Td (1,704) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.00 425.50 Td (1,819) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 415.50 Td (Ten years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.00 415.50 Td (1,129) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 395.63 Td (Re-estimated liability as of:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 385.50 Td (One year later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 150.00 385.50 Td ($85,054) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.00 385.50 Td ($94,319) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.00 385.50 Td ($84,035) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.00 385.50 Td ($127,792) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.00 385.50 Td ($179,008) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.00 385.50 Td ($75,835) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.00 385.50 Td ($76,149) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.00 385.50 Td ($80,689) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.00 385.50 Td ($106,981) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.00 385.50 Td ($100,115) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 375.50 Td (Two years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.00 375.50 Td (93,499) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.00 375.50 Td (82,960) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.00 375.50 Td (123,009) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 375.50 Td (181,723) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 375.50 Td (78,674) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 375.50 Td (78,070) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 375.50 Td (81,126) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.00 375.50 Td (108,610) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.00 375.50 Td (102,207) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 365.50 Td (Three years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.00 365.50 Td (80,611) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.00 365.50 Td (125,063) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 365.50 Td (179,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 365.50 Td (79,171) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 365.50 Td (81,986) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 365.50 Td (79,858) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.00 365.50 Td (109,821) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.00 365.50 Td (103,883) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 355.50 Td (Four years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.00 355.50 Td (123,394) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 355.50 Td (180,450) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 355.50 Td (76,320) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 355.50 Td (81,229) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 355.50 Td (83,387) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 355.50 Td (87,591) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.00 355.50 Td (104,861) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 345.50 Td (Five years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 345.50 Td (178,784) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 345.50 Td (77,423) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 345.50 Td (79,985) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 345.50 Td (80,489) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 345.50 Td (91,264) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 345.50 Td (90,971) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 335.50 Td (Six years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 335.50 Td (77,025) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 335.50 Td (80,906) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 335.50 Td (79,326) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 335.50 Td (88,059) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 335.50 Td (94,509) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 325.50 Td (Seven years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 325.50 Td (81,319) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 325.50 Td (79,531) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 325.50 Td (87,123) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 325.50 Td (93,094) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 315.50 Td (Eight years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 315.50 Td (80,135) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 315.50 Td (87,538) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 315.50 Td (92,449) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 305.50 Td (Nine years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 305.50 Td (88,120) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 305.50 Td (92,861) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 295.50 Td (Ten years later) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 295.50 Td (93,255) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 275.63 Td (Loss portfolio transfer:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.00 265.50 Td ($2,415) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.65 265.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.65 265.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.65 265.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.65 265.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.65 265.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.65 265.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.65 265.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.65 265.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.65 265.50 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 245.58 Td (As of December 31, 2014:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 233.63 Td (Cumulative \(redundancy\) deficiency) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.65 223.50 Td ($\(602\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.65 223.50 Td ($\(811\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.65 223.50 Td ($\(3,208\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.65 223.50 Td ($\(2,707\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 318.00 223.50 Td ($4,926) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 223.50 Td ($6,985) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 223.50 Td ($5,507) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.00 223.50 Td ($875) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.65 223.50 Td ($\(19,342\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.65 223.50 Td ($\(11,586\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 211.73 Td (Cumulative \(redundancy\) deficiency as a % of reserves originally established- net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 156.95 199.50 Td (\(0.7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 169.65 199.50 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 197.95 199.50 Td (\(0.9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.65 199.50 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 238.95 199.50 Td (\(3.8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.65 199.50 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.95 199.50 Td (\(2.1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 199.50 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.65 199.50 Td (2.8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.25 199.50 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.65 199.50 Td (10.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.25 199.50 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.65 199.50 Td (7.3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.25 199.50 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.65 199.50 Td (1.1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.30 199.50 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.95 199.50 Td (\(18.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.65 199.50 Td (\)%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.95 199.50 Td (\(11.1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 552.65 199.50 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 189.63 Td (Re-estimated liability- gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 146.00 179.45 Td ($104,352) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 187.00 179.45 Td ($108,172) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.00 179.45 Td ($92,551) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 269.00 179.45 Td ($133,796) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.00 179.45 Td ($186,590) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.00 179.45 Td ($193,649) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.00 179.45 Td ($198,291) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.00 179.45 Td ($201,597) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.00 179.45 Td ($214,174) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.00 179.45 Td ($211,249) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 168.63 Td (Less: Re-established reinsurance recoverable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.00 158.50 Td (19,298) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.00 158.50 Td (14,673) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.00 158.50 Td (11,940) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.00 158.50 Td (10,402) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.00 158.50 Td (7,806) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.00 158.50 Td (116,624) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.00 158.50 Td (116,972) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.00 158.50 Td (121,462) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.00 158.50 Td (126,054) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.00 158.50 Td (117,994) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 148.63 Td (Re-estimated provision- net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 154.00 138.50 Td (85,054) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.00 138.50 Td (93,499) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.00 138.50 Td (80,611) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.00 138.50 Td (123,394) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 138.50 Td (178,784) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 138.50 Td (77,025) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 138.50 Td (81,319) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 138.50 Td (80,135) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 138.50 Td (88,120) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 138.50 Td (93,255) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 128.63 Td (Cumulative \(redundancy\) deficiency gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 158.00 118.50 Td (2,967) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 199.00 118.50 Td (1,897) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.00 118.50 Td (908) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.00 118.50 Td (1,218) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.00 118.50 Td (7,536) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.00 118.50 Td (19,997) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.00 118.50 Td (14,642) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 118.50 Td (10,426) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.00 118.50 Td (11,497) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.00 118.50 Td (15,812) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 108.50 Td (\(1\) Includes Gateway reserves acquired as of January 1, 2013) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 98.50 Td (\(2\) Negative payment as of one year later results from the commutation of reinsured reserves by Kingsway Re.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 99 0 obj <> endobj 100 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Off-balance ) Tj ET Q q 0 0 0 rg BT 103.05 742.25 Td (sheet ) Tj ET Q q 0 0 0 rg BT 127.21 742.25 Td (arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 725.25 Td (As ) Tj ET Q q 0 0 0 rg BT 63.61 725.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 725.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 133.03 725.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 725.25 Td (, ) Tj ET Q q 0 0 0 rg BT 157.48 725.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 181.08 725.25 Td (has ) Tj ET Q q 0 0 0 rg BT 196.91 725.25 Td (the ) Tj ET Q q 0 0 0 rg BT 211.63 725.25 Td (following ) Tj ET Q q 0 0 0 rg BT 253.02 725.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 273.29 725.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 320.23 725.25 Td (related ) Tj ET Q q 0 0 0 rg BT 349.93 725.25 Td (to ) Tj ET Q q 0 0 0 rg BT 360.21 725.25 Td (its ) Tj ET Q q 0 0 0 rg BT 372.16 725.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 412.42 725.25 Td (leases:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 700.50 Td (Operating Lease Commitments \(in '000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 694.75 71.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 121.50 694.75 73.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 694.75 73.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 694.75 73.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 694.75 74.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 694.75 74.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 694.75 74.00 -23.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 694.75 m 121.5 694.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 671.75 m 121.5 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 121.5 694.75 m 194.5 694.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 121.5 671.75 m 194.5 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 694.75 m 267.5 694.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 671.75 m 267.5 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 694.75 m 340.5 694.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 671.75 m 340.5 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 694.75 m 414.5 694.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 671.75 m 414.5 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 694.75 m 488.5 694.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 671.75 m 488.5 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 694.75 m 562.5 694.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 671.75 m 562.5 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 121.5 671.75 m 194.5 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 671.75 m 267.5 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 671.75 m 340.5 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 671.75 m 414.5 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 671.75 m 488.5 671.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 671.75 m 562.5 671.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 76.55 676.20 Td (Year) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.50 676.20 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 221.50 676.20 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 294.50 676.20 Td (2017) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 368.00 676.20 Td (2018) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 421.45 676.20 Td (2019 & Beyond) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 515.15 676.20 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 69.70 661.20 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.00 661.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.15 661.42 Td (1,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 661.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.65 661.42 Td (845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 661.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 661.42 Td (281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.00 661.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 661.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.00 661.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 661.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 661.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 661.42 Td (2,312) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 623.25 Td (Shar) Tj ET Q q 0 0 0 rg BT 70.38 623.25 Td (eholders) Tj ET Q q 0 0 0 rg BT 109.08 623.25 Td ( ) Tj ET Q q 0 0 0 rg BT 111.58 623.25 Td (Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 606.25 Td (The ) Tj ET Q q 0 0 0 rg BT 68.05 606.25 Td (table ) Tj ET Q q 0 0 0 rg BT 89.98 606.25 Td (below ) Tj ET Q q 0 0 0 rg BT 116.92 606.25 Td (identifies ) Tj ET Q q 0 0 0 rg BT 156.63 606.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 191.34 606.25 Td (in ) Tj ET Q q 0 0 0 rg BT 201.62 606.25 Td (shareholders) Tj ET Q q 0 0 0 rg BT 254.74 606.25 Td ( ) Tj ET Q q 0 0 0 rg BT 257.24 606.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 284.74 606.25 Td (for ) Tj ET Q q 0 0 0 rg BT 298.90 606.25 Td (the ) Tj ET Q q 0 0 0 rg BT 313.61 606.25 Td (years ) Tj ET Q q 0 0 0 rg BT 337.21 606.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.59 606.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 422.17 606.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.17 606.25 Td ( ) Tj ET Q q 0 0 0 rg BT 444.67 606.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.61 606.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 520.20 606.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.20 606.25 Td (:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 581.50 Td (Changes in Shar) Tj ET Q q 0 0 0 rg BT 120.40 581.50 Td (eholders' Equity) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 575.75 100.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 575.75 55.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 575.75 4.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 575.75 55.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 575.75 4.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 575.75 55.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 575.75 4.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 575.75 55.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 575.75 4.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 575.75 53.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 575.75 4.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 575.75 67.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 575.75 4.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 575.75 48.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 511.75 100.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 511.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 511.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 511.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 511.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 511.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 511.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 511.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 511.75 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 466.75 100.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 466.75 55.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 466.75 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 466.75 55.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 466.75 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 466.75 55.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 466.75 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 466.75 55.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 466.75 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 466.75 53.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 466.75 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 466.75 67.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 466.75 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 466.75 48.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 436.75 100.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 436.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 436.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 436.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 436.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 436.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 436.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 436.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 436.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 436.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 436.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 436.75 67.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 436.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 436.75 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 406.75 100.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 406.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 406.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 406.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 406.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 406.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 406.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 406.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 406.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 406.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 406.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 406.75 67.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 406.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 406.75 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 376.75 100.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 376.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 376.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 376.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 376.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 376.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 376.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 376.75 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 376.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 376.75 53.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 376.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 376.75 67.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 376.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 376.75 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 343.75 100.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 343.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 343.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 343.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 343.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 343.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 343.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 343.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 343.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 343.75 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 343.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 343.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 343.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 343.75 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 308.75 100.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 308.75 55.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 308.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 308.75 55.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 308.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 308.75 55.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 308.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 308.75 55.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 308.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 308.75 53.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 308.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 308.75 67.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 308.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 308.75 48.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 276.75 100.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 276.75 55.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 276.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 276.75 55.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 276.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 276.75 55.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.50 276.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.50 276.75 55.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 276.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.50 276.75 53.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 276.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 276.75 67.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 276.75 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 276.75 48.00 -20.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 575.75 m 150.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 575.75 m 205.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 575.75 m 209.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 575.75 m 264.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 575.75 m 268.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 575.75 m 323.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 575.75 m 327.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 575.75 m 382.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 575.75 m 386.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 575.75 m 439.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 575.75 m 443.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 575.75 m 510.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 575.75 m 514.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 575.75 m 562.5 575.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 511.75 m 150.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 511.75 m 205.5 511.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 511.75 m 209.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 511.75 m 264.5 511.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 511.75 m 268.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 511.75 m 323.5 511.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 511.75 m 327.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 511.75 m 382.5 511.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 511.75 m 386.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 511.75 m 439.5 511.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 511.75 m 443.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 511.75 m 510.5 511.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 511.75 m 514.5 511.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 511.75 m 562.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 511.75 m 150.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 511.75 m 205.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 511.75 m 209.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 511.75 m 264.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 511.75 m 268.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 511.75 m 323.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 511.75 m 327.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 511.75 m 382.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 511.75 m 386.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 511.75 m 439.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 511.75 m 443.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 511.75 m 510.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 511.75 m 514.5 511.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 511.75 m 562.5 511.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 364.75 m 205.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 364.75 m 209.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 364.75 m 264.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 364.75 m 268.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 364.75 m 323.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 364.75 m 327.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 364.75 m 382.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 364.75 m 386.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 364.75 m 439.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 364.75 m 443.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 364.75 m 510.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 364.75 m 150.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 343.75 m 150.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 364.75 m 205.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 343.75 m 205.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 364.75 m 209.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 343.75 m 209.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 364.75 m 264.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 343.75 m 264.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 364.75 m 268.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 343.75 m 268.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 364.75 m 323.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 343.75 m 323.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 364.75 m 327.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 343.75 m 327.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 364.75 m 382.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 343.75 m 382.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 364.75 m 386.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 343.75 m 386.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 364.75 m 439.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 343.75 m 439.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 364.75 m 443.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 343.75 m 443.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 364.75 m 510.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 343.75 m 510.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 364.75 m 514.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 343.75 m 514.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 364.75 m 562.5 364.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 343.75 m 562.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 343.75 m 150.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 343.75 m 205.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 343.75 m 209.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 343.75 m 264.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 343.75 m 268.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 343.75 m 323.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 343.75 m 327.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 343.75 m 382.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 343.75 m 386.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 343.75 m 439.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 343.75 m 443.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 343.75 m 510.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 343.75 m 514.5 343.75 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 343.75 m 562.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 276.75 m 150.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 276.75 m 150.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 256.75 m 150.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 276.75 m 205.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 256.75 m 205.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 276.75 m 209.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 256.75 m 209.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 276.75 m 264.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 256.75 m 264.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 276.75 m 268.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 256.75 m 268.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 276.75 m 323.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 256.75 m 323.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 276.75 m 327.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323.5 256.75 m 327.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 276.75 m 382.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 256.75 m 382.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 276.75 m 386.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 256.75 m 386.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 276.75 m 439.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 256.75 m 439.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 276.75 m 443.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 256.75 m 443.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 276.75 m 510.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 256.75 m 510.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 276.75 m 514.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 256.75 m 514.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 276.75 m 562.5 276.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 256.75 m 562.5 256.75 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 537.21 Td (\(in '000s\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 158.90 546.20 Td (Preferred) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 164.55 537.20 Td (Shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 218.20 555.20 Td (Ordinary) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 218.75 546.20 Td (Common) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 223.55 537.20 Td (Shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 275.75 555.20 Td (Restricted) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 277.75 546.20 Td (Common) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 282.55 537.20 Td (Shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 333.95 555.20 Td (Additional) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.45 546.20 Td (Paid-in) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 340.20 537.20 Td (Capital) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 395.25 546.20 Td (Retained) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 399.75 537.20 Td (Deficit) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.00 564.20 Td (Accumulated) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 465.05 555.20 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 446.55 546.20 Td (Comprehensive) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 449.35 537.20 Td (Income \(Loss\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 528.15 537.20 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 520.43 Td (Balance December 31, 2012) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 153.00 516.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 177.25 516.21 Td (18,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 212.00 516.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 256.50 516.21 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.00 516.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.00 516.21 Td (14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 345.25 516.21 Td ($152,768) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.00 516.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.75 516.21 Td (\(112,675) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.00 516.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.00 516.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.75 516.21 Td (1,753) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 517.00 516.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 516.21 Td (59,864) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 502.93 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.75 502.21 Td (6,180) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 502.21 Td (6,180) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 488.43 Td (Proceeds from U.S. initial) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 480.43 Td (public offering, net of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 472.43 Td (offering costs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.00 471.21 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.00 471.21 Td (\(10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.00 471.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 471.21 Td (9,750) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 471.21 Td (9,756) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 458.83 Td (Issuance of preferred) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 450.88 Td (shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 181.75 453.21 Td (2,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 453.21 Td (2,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 440.83 Td (Warrants exercised) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 256.50 440.01 Td (5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 440.01 Td (7,176) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 440.01 Td (7,181) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 428.83 Td (Other comprehensive loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.75 428.01 Td (\(3,181) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 428.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 428.01 Td (\(3,181) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 428.01 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 416.83 Td (Repurchase of preferred) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 408.88 Td (shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.25 411.21 Td (\(18,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 202.00 411.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 411.21 Td (1,800) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.25 411.21 Td (\(16,200) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 411.21 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 398.83 Td (Share-based compensation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.50 398.01 Td (247) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 398.01 Td (247) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 386.83 Td (Preferred dividends) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 378.88 Td (declared and paid) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 355.75 381.21 Td (\(2,145) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 379.00 381.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 381.21 Td (\(2,145) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 381.21 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 368.83 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 256.50 368.01 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 312.50 368.01 Td (\(4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.00 368.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.50 368.01 Td (\(1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 379.00 368.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.50 368.01 Td (\(1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.00 368.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 368.01 Td (\(1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 368.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.50 368.01 Td (\(4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 368.01 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 352.43 Td (Balance December 31, 2013) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 153.00 348.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 181.75 348.21 Td (2,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 212.00 348.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.00 348.21 Td (28) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.00 348.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.00 348.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.00 348.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.75 348.21 Td (169,595) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.00 348.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.75 348.21 Td (\(106,496) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.00 348.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.00 348.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.75 348.21 Td (\(1,429) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.00 348.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 517.00 348.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 348.21 Td (63,698) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 334.93 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.25 334.21 Td (17,702) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 334.21 Td (17,702) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 317.43 Td (Issuance of common shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 256.50 313.21 Td (6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.25 313.21 Td (25,015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 313.21 Td (25,021) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 300.83 Td (Other comprehensive) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 292.83 Td (income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.75 293.21 Td (1,509) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 293.21 Td (1,509) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 280.83 Td (Share-based compensation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.00 280.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 280.01 Td (1,469) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 280.01 Td (1,469) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 264.93 Td (Balance December 31, 2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 153.00 261.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 181.75 261.21 Td (2,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 212.00 261.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.00 261.21 Td (34) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.00 261.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.00 261.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.00 261.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.75 261.21 Td (196,079) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.00 261.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.25 261.21 Td (\(88,794) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 436.00 261.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.00 261.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.00 261.21 Td (80) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 517.00 261.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 261.21 Td (109,399) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.25 Td (As ) Tj ET Q q 0 0 0 rg BT 65.46 240.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.14 240.25 Td (March5, ) Tj ET Q q 0 0 0 rg BT 118.59 240.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.59 240.25 Td (, ) Tj ET Q q 0 0 0 rg BT 145.44 240.25 Td (there ) Tj ET Q q 0 0 0 rg BT 169.78 240.25 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.56 240.25 Td (1) Tj ET Q q 0 0 0 rg BT 198.19 240.25 Td (1,646,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.19 240.25 Td ( ) Tj ET Q q 0 0 0 rg BT 242.54 240.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 280.77 240.25 Td (common ) Tj ET Q q 0 0 0 rg BT 320.11 240.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 349.45 240.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 400.47 240.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.26 240.25 Td (132,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.76 240.25 Td ( ) Tj ET Q q 0 0 0 rg BT 456.11 240.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 497.66 240.25 Td (common ) Tj ET Q q 0 0 0 rg BT 537.01 240.25 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.25 Td (outstanding, ) Tj ET Q q 0 0 0 rg BT 101.67 228.25 Td (and ) Tj ET Q q 0 0 0 rg BT 118.60 228.25 Td (2,000,000 ) Tj ET Q q 0 0 0 rg BT 161.10 228.25 Td (preferred ) Tj ET Q q 0 0 0 rg BT 200.24 228.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 227.73 228.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 255.23 228.25 Td (and ) Tj ET Q q 0 0 0 rg BT 272.17 228.25 Td (outstanding. ) Tj ET Q q 0 0 0 rg BT 323.83 228.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.28 211.25 Td (holders ) Tj ET Q q 0 0 0 rg BT 98.44 211.25 Td (of ) Tj ET Q q 0 0 0 rg BT 108.50 211.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 147.43 211.25 Td (voting ) Tj ET Q q 0 0 0 rg BT 174.72 211.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 201.44 211.25 Td (are ) Tj ET Q q 0 0 0 rg BT 215.37 211.25 Td (entitled ) Tj ET Q q 0 0 0 rg BT 247.09 211.25 Td (to ) Tj ET Q q 0 0 0 rg BT 256.60 211.25 Td (vote ) Tj ET Q q 0 0 0 rg BT 275.54 211.25 Td (at ) Tj ET Q q 0 0 0 rg BT 284.49 211.25 Td (all ) Tj ET Q q 0 0 0 rg BT 296.21 211.25 Td (meetings ) Tj ET Q q 0 0 0 rg BT 334.04 211.25 Td (of ) Tj ET Q q 0 0 0 rg BT 344.10 211.25 Td (shareholders, ) Tj ET Q q 0 0 0 rg BT 398.87 211.25 Td (except ) Tj ET Q q 0 0 0 rg BT 426.69 211.25 Td (at ) Tj ET Q q 0 0 0 rg BT 435.63 211.25 Td (meetings ) Tj ET Q q 0 0 0 rg BT 473.47 211.25 Td (of ) Tj ET Q q 0 0 0 rg BT 483.53 211.25 Td (holders ) Tj ET Q q 0 0 0 rg BT 514.69 211.25 Td (of ) Tj ET Q q 0 0 0 rg BT 524.75 211.25 Td (a ) Tj ET Q q 0 0 0 rg BT 530.92 211.25 Td (specific ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.25 Td (class ) Tj ET Q q 0 0 0 rg BT 71.79 199.25 Td (that ) Tj ET Q q 0 0 0 rg BT 89.14 199.25 Td (are ) Tj ET Q q 0 0 0 rg BT 103.71 199.25 Td (entitled ) Tj ET Q q 0 0 0 rg BT 136.05 199.25 Td (to ) Tj ET Q q 0 0 0 rg BT 146.18 199.25 Td (vote ) Tj ET Q q 0 0 0 rg BT 165.76 199.25 Td (separately ) Tj ET Q q 0 0 0 rg BT 208.64 199.25 Td (as ) Tj ET Q q 0 0 0 rg BT 219.33 199.25 Td (a ) Tj ET Q q 0 0 0 rg BT 226.12 199.25 Td (class. ) Tj ET Q q 0 0 0 rg BT 250.42 199.25 Td ( ) Tj ET Q q 0 0 0 rg BT 252.60 199.25 Td (The ) Tj ET Q q 0 0 0 rg BT 270.50 199.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 310.06 199.25 Td (voting ) Tj ET Q q 0 0 0 rg BT 337.97 199.25 Td (common ) Tj ET Q q 0 0 0 rg BT 375.32 199.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 402.67 199.25 Td (as ) Tj ET Q q 0 0 0 rg BT 413.35 199.25 Td (a ) Tj ET Q q 0 0 0 rg BT 420.14 199.25 Td (class ) Tj ET Q q 0 0 0 rg BT 441.94 199.25 Td (shall ) Tj ET Q q 0 0 0 rg BT 463.18 199.25 Td (not ) Tj ET Q q 0 0 0 rg BT 478.31 199.25 Td (carry ) Tj ET Q q 0 0 0 rg BT 501.20 199.25 Td (more ) Tj ET Q q 0 0 0 rg BT 524.11 199.25 Td (than ) Tj ET Q q 0 0 0 rg BT 543.68 199.25 Td (30% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 187.25 Td (the ) Tj ET Q q 0 0 0 rg BT 75.55 187.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 116.91 187.25 Td (votes ) Tj ET Q q 0 0 0 rg BT 140.52 187.25 Td (eligible ) Tj ET Q q 0 0 0 rg BT 173.01 187.25 Td (to ) Tj ET Q q 0 0 0 rg BT 183.29 187.25 Td (be ) Tj ET Q q 0 0 0 rg BT 195.22 187.25 Td (voted ) Tj ET Q q 0 0 0 rg BT 219.94 187.25 Td (at ) Tj ET Q q 0 0 0 rg BT 229.66 187.25 Td (a ) Tj ET Q q 0 0 0 rg BT 236.60 187.25 Td (general ) Tj ET Q q 0 0 0 rg BT 268.52 187.25 Td (meeting ) Tj ET Q q 0 0 0 rg BT 303.23 187.25 Td (of ) Tj ET Q q 0 0 0 rg BT 314.06 187.25 Td (common ) Tj ET Q q 0 0 0 rg BT 351.56 187.25 Td (shareholders.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 170.25 Td (All ) Tj ET Q q 0 0 0 rg BT 65.60 170.25 Td (of ) Tj ET Q q 0 0 0 rg BT 76.76 170.25 Td (the ) Tj ET Q q 0 0 0 rg BT 91.80 170.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 119.63 170.25 Td (and ) Tj ET Q q 0 0 0 rg BT 136.89 170.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 186.39 170.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 226.41 170.25 Td (voting ) Tj ET Q q 0 0 0 rg BT 254.80 170.25 Td (common ) Tj ET Q q 0 0 0 rg BT 292.62 170.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 320.43 170.25 Td (are ) Tj ET Q q 0 0 0 rg BT 335.47 170.25 Td (beneficially ) Tj ET Q q 0 0 0 rg BT 385.49 170.25 Td (owned ) Tj ET Q q 0 0 0 rg BT 414.98 170.25 Td (or ) Tj ET Q q 0 0 0 rg BT 426.13 170.25 Td (controlled ) Tj ET Q q 0 0 0 rg BT 469.50 170.25 Td (by ) Tj ET Q q 0 0 0 rg BT 482.33 170.25 Td (Kingsway ) Tj ET Q q 0 0 0 rg BT 525.08 170.25 Td (America, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 158.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 67.67 158.25 Td (\("KAI"\), ) Tj ET Q q 0 0 0 rg BT 105.18 158.25 Td (or ) Tj ET Q q 0 0 0 rg BT 115.92 158.25 Td (its ) Tj ET Q q 0 0 0 rg BT 127.77 158.25 Td (af) Tj ET Q q 0 0 0 rg BT 135.36 158.25 Td (filiated ) Tj ET Q q 0 0 0 rg BT 166.08 158.25 Td (entities. ) Tj ET Q q 0 0 0 rg BT 199.70 158.25 Td (The ) Tj ET Q q 0 0 0 rg BT 217.65 158.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 257.26 158.25 Td (voting ) Tj ET Q q 0 0 0 rg BT 285.22 158.25 Td (common ) Tj ET Q q 0 0 0 rg BT 322.62 158.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 350.02 158.25 Td (will ) Tj ET Q q 0 0 0 rg BT 367.98 158.25 Td (convert ) Tj ET Q q 0 0 0 rg BT 400.37 158.25 Td (to ) Tj ET Q q 0 0 0 rg BT 410.56 158.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 446.84 158.25 Td (voting ) Tj ET Q q 0 0 0 rg BT 474.81 158.25 Td (common ) Tj ET Q q 0 0 0 rg BT 512.21 158.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 539.60 158.25 Td (in ) Tj ET Q q 0 0 0 rg BT 549.79 158.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 146.25 Td (event ) Tj ET Q q 0 0 0 rg BT 73.65 146.25 Td (that ) Tj ET Q q 0 0 0 rg BT 90.64 146.25 Td (these ) Tj ET Q q 0 0 0 rg BT 113.18 146.25 Td (KAI ) Tj ET Q q 0 0 0 rg BT 132.95 146.25 Td (owned ) Tj ET Q q 0 0 0 rg BT 161.60 146.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 188.59 146.25 Td (are ) Tj ET Q q 0 0 0 rg BT 202.79 146.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 221.46 146.25 Td (to ) Tj ET Q q 0 0 0 rg BT 231.23 146.25 Td (non-af) Tj ET Q q 0 0 0 rg BT 257.15 146.25 Td (filiates ) Tj ET Q q 0 0 0 rg BT 286.35 146.25 Td (of ) Tj ET Q q 0 0 0 rg BT 296.68 146.25 Td (KAI. ) Tj ET Q q 0 0 0 rg BT 318.95 146.25 Td ( ) Tj ET Q q 0 0 0 rg BT 320.50 146.25 Td (As ) Tj ET Q q 0 0 0 rg BT 333.61 146.25 Td (of ) Tj ET Q q 0 0 0 rg BT 343.93 146.25 Td (December ) Tj ET Q q 0 0 0 rg BT 387.01 146.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 401.51 146.25 Td (2014, ) Tj ET Q q 0 0 0 rg BT 426.00 146.25 Td (KAI's ) Tj ET Q q 0 0 0 rg BT 451.46 146.25 Td (ownership ) Tj ET Q q 0 0 0 rg BT 495.12 146.25 Td (of ) Tj ET Q q 0 0 0 rg BT 505.00 146.25 Td (AFH ) Tj ET Q q 0 0 0 rg BT 527.00 146.25 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 134.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 73.61 134.25 Td (was ) Tj ET Q q 0 0 0 rg BT 91.66 134.25 Td (less ) Tj ET Q q 0 0 0 rg BT 109.16 134.25 Td (than ) Tj ET Q q 0 0 0 rg BT 128.88 134.25 Td (2%.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.25 Td (On ) Tj ET Q q 0 0 0 rg BT 64.57 117.25 Td (February1) Tj ET Q q 0 0 0 rg BT 107.80 117.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 117.65 117.25 Td (2013, ) Tj ET Q q 0 0 0 rg BT 142.50 117.25 Td (an ) Tj ET Q q 0 0 0 rg BT 154.28 117.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 195.49 117.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.17 117.25 Td (4,125,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.17 117.25 Td ( ) Tj ET Q q 0 0 0 rg BT 248.00 117.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 271.46 117.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 307.68 117.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 335.02 117.25 Td (were ) Tj ET Q q 0 0 0 rg BT 356.80 117.25 Td (of) Tj ET Q q 0 0 0 rg BT 364.95 117.25 Td (fered ) Tj ET Q q 0 0 0 rg BT 387.84 117.25 Td (in ) Tj ET Q q 0 0 0 rg BT 397.44 117.25 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 422.70 117.25 Td (initial ) Tj ET Q q 0 0 0 rg BT 448.38 117.25 Td (public ) Tj ET Q q 0 0 0 rg BT 475.73 117.25 Td (of) Tj ET Q q 0 0 0 rg BT 483.88 117.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 510.10 117.25 Td (in ) Tj ET Q q 0 0 0 rg BT 520.23 117.25 Td (the ) Tj ET Q q 0 0 0 rg BT 534.79 117.25 Td (United ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.25 Td (States. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.08 105.25 Td (1,500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.08 105.25 Td ( ) Tj ET Q q 0 0 0 rg BT 123.77 105.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 161.34 105.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 190.03 105.25 Td (were ) Tj ET Q q 0 0 0 rg BT 213.15 105.25 Td (of) Tj ET Q q 0 0 0 rg BT 221.30 105.25 Td (fered ) Tj ET Q q 0 0 0 rg BT 245.53 105.25 Td (by ) Tj ET Q q 0 0 0 rg BT 258.40 105.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 283.21 105.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.34 105.25 Td (2,625,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.34 105.25 Td ( ) Tj ET Q q 0 0 0 rg BT 345.03 105.25 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 382.60 105.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 411.28 105.25 Td (were ) Tj ET Q q 0 0 0 rg BT 434.40 105.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 454.77 105.25 Td (by ) Tj ET Q q 0 0 0 rg BT 468.46 105.25 Td ( ) Tj ET Q q 0 0 0 rg BT 472.15 105.25 Td (KAI, ) Tj ET Q q 0 0 0 rg BT 496.12 105.25 Td (a ) Tj ET Q q 0 0 0 rg BT 504.25 105.25 Td (wholly-owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 93.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 93.38 93.25 Td (of ) Tj ET Q q 0 0 0 rg BT 103.97 93.25 Td (Kingsway ) Tj ET Q q 0 0 0 rg BT 146.79 93.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 186.27 93.25 Td (Services ) Tj ET Q q 0 0 0 rg BT 222.41 93.25 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 242.45 93.25 Td (or ) Tj ET Q q 0 0 0 rg BT 253.05 93.25 Td (other ) Tj ET Q q 0 0 0 rg BT 275.86 93.25 Td (Kingsway ) Tj ET Q q 0 0 0 rg BT 318.68 93.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 368.16 93.25 Td (\(collectively ) Tj ET Q q 0 0 0 rg BT 420.41 93.25 Td (Kingsway\) ) Tj ET Q q 0 0 0 rg BT 475.43 93.25 Td (at ) Tj ET Q q 0 0 0 rg BT 484.92 93.25 Td (a ) Tj ET Q q 0 0 0 rg BT 491.62 93.25 Td (price ) Tj ET Q q 0 0 0 rg BT 513.87 93.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.47 93.25 Td ($5.85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.97 93.25 Td ( ) Tj ET Q q 0 0 0 rg BT 549.24 93.25 Td (per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.25 Td (share, ) Tj ET Q q 0 0 0 rg BT 76.17 81.25 Td (less ) Tj ET Q q 0 0 0 rg BT 93.74 81.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 147.96 81.25 Td (discounts ) Tj ET Q q 0 0 0 rg BT 188.31 81.25 Td (and ) Tj ET Q q 0 0 0 rg BT 205.32 81.25 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 245.92 81.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 269.60 81.25 Td (also ) Tj ET Q q 0 0 0 rg BT 288.28 81.25 Td (granted ) Tj ET Q q 0 0 0 rg BT 320.83 81.25 Td (the ) Tj ET Q q 0 0 0 rg BT 335.62 81.25 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 388.73 81.25 Td (an ) Tj ET Q q 0 0 0 rg BT 400.73 81.25 Td (option ) Tj ET Q q 0 0 0 rg BT 428.86 81.25 Td (to ) Tj ET Q q 0 0 0 rg BT 439.21 81.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 477.32 81.25 Td (up ) Tj ET Q q 0 0 0 rg BT 489.89 81.25 Td (to ) Tj ET Q q 0 0 0 rg BT 500.23 81.25 Td (an ) Tj ET Q q 0 0 0 rg BT 512.24 81.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 553.67 81.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 69.25 Td (618,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 69.25 Td ( ) Tj ET Q q 0 0 0 rg BT 84.92 69.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 127.33 69.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 154.74 69.25 Td (at ) Tj ET Q q 0 0 0 rg BT 164.37 69.25 Td (the ) Tj ET Q q 0 0 0 rg BT 179.01 69.25 Td (public ) Tj ET Q q 0 0 0 rg BT 206.42 69.25 Td (of) Tj ET Q q 0 0 0 rg BT 214.57 69.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 240.86 69.25 Td (price ) Tj ET Q q 0 0 0 rg BT 263.27 69.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.02 69.25 Td ($5.85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.52 69.25 Td ( ) Tj ET Q q 0 0 0 rg BT 298.94 69.25 Td (per ) Tj ET Q q 0 0 0 rg BT 314.12 69.25 Td (share ) Tj ET Q q 0 0 0 rg BT 337.64 69.25 Td (to ) Tj ET Q q 0 0 0 rg BT 347.84 69.25 Td (cover ) Tj ET Q q 0 0 0 rg BT 372.46 69.25 Td (over) Tj ET Q q 0 0 0 rg BT 390.03 69.25 Td (-allotments, ) Tj ET Q q 0 0 0 rg BT 439.94 69.25 Td (if ) Tj ET Q q 0 0 0 rg BT 448.47 69.25 Td (any) Tj ET Q q 0 0 0 rg BT 462.25 69.25 Td (. ) Tj ET Q q 0 0 0 rg BT 467.17 69.25 Td (On ) Tj ET Q q 0 0 0 rg BT 481.81 69.25 Td (March ) Tj ET Q q 0 0 0 rg BT 510.33 69.25 Td (1) Tj ET Q q 0 0 0 rg BT 514.96 69.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 524.88 69.25 Td (2013, ) Tj ET Q q 0 0 0 rg BT 549.80 69.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 57.25 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 104.10 57.25 Td (exercised ) Tj ET Q q 0 0 0 rg BT 145.42 57.25 Td (this ) Tj ET Q q 0 0 0 rg BT 163.43 57.25 Td (option ) Tj ET Q q 0 0 0 rg BT 192.55 57.25 Td (and ) Tj ET Q q 0 0 0 rg BT 210.55 57.25 Td (purchased ) Tj ET Q q 0 0 0 rg BT 254.65 57.25 Td (an ) Tj ET Q q 0 0 0 rg BT 267.65 57.25 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.21 57.25 Td (451,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.71 57.25 Td ( ) Tj ET Q q 0 0 0 rg BT 347.27 57.25 Td (shares. ) Tj ET Q q 0 0 0 rg BT 377.54 57.25 Td (After ) Tj ET Q q 0 0 0 rg BT 402.20 57.25 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 457.42 57.25 Td (and ) Tj ET Q q 0 0 0 rg BT 475.42 57.25 Td (other ) Tj ET Q q 0 0 0 rg BT 499.53 57.25 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 540.91 57.25 Td (Atlas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 45.25 Td (realized ) Tj ET Q q 0 0 0 rg BT 84.14 45.25 Td (combined ) Tj ET Q q 0 0 0 rg BT 126.07 45.25 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 164.11 45.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.94 45.25 Td ($9.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.44 45.25 Td ( ) Tj ET Q q 0 0 0 rg BT 194.94 45.25 Td (million. ) Tj ET Q endstream endobj 101 0 obj <> endobj 102 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (On ) Tj ET Q q 0 0 0 rg BT 65.42 718.10 Td (August ) Tj ET Q q 0 0 0 rg BT 98.41 718.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 110.01 718.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 135.70 718.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 160.91 718.10 Td (repurchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.32 718.10 Td (18,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.32 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 262.42 718.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 303.15 718.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 332.24 718.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 363.00 718.10 Td (by ) Tj ET Q q 0 0 0 rg BT 377.10 718.10 Td (Kingsway ) Tj ET Q q 0 0 0 rg BT 421.75 718.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 460.29 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 472.17 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 488.48 718.10 Td (Share ) Tj ET Q q 0 0 0 rg BT 515.35 718.10 Td (Repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 98.87 706.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 122.48 706.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 159.96 706.10 Td (a ) Tj ET Q q 0 0 0 rg BT 166.89 706.10 Td ($1.8 ) Tj ET Q q 0 0 0 rg BT 186.89 706.10 Td (million ) Tj ET Q q 0 0 0 rg BT 218.29 706.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 248.55 706.10 Td (related ) Tj ET Q q 0 0 0 rg BT 278.25 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 288.53 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 303.25 706.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 339.63 706.10 Td (on ) Tj ET Q q 0 0 0 rg BT 352.13 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 366.85 706.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 412.66 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 423.49 706.10 Td (these ) Tj ET Q q 0 0 0 rg BT 446.53 706.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 474.02 706.10 Td (from ) Tj ET Q q 0 0 0 rg BT 495.96 706.10 Td (Kingsway) Tj ET Q q 0 0 0 rg BT 535.86 706.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 689.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.21 689.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 111.41 689.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 160.73 689.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 200.02 689.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 227.67 689.10 Td (are ) Tj ET Q q 0 0 0 rg BT 242.54 689.10 Td (not ) Tj ET Q q 0 0 0 rg BT 257.98 689.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 290.63 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 301.06 689.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 320.94 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 338.03 689.10 Td (are ) Tj ET Q q 0 0 0 rg BT 352.90 689.10 Td (beneficially ) Tj ET Q q 0 0 0 rg BT 402.76 689.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 432.08 689.10 Td (or ) Tj ET Q q 0 0 0 rg BT 443.06 689.10 Td (controlled ) Tj ET Q q 0 0 0 rg BT 486.26 689.10 Td (by ) Tj ET Q q 0 0 0 rg BT 498.92 689.10 Td (Hendricks ) Tj ET Q q 0 0 0 rg BT 542.68 689.10 Td (as ) Tj ET Q q 0 0 0 rg BT 553.67 689.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 677.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.32 677.10 Td (year ) Tj ET Q q 0 0 0 rg BT 83.63 677.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 109.61 677.10 Td (December ) Tj ET Q q 0 0 0 rg BT 152.80 677.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 167.41 677.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.41 677.10 Td (. ) Tj ET Q q 0 0 0 rg BT 192.01 677.10 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 231.31 677.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 283.96 677.10 Td (are ) Tj ET Q q 0 0 0 rg BT 298.27 677.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 330.36 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 340.24 677.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 381.24 677.10 Td (on ) Tj ET Q q 0 0 0 rg BT 393.34 677.10 Td (a ) Tj ET Q q 0 0 0 rg BT 399.88 677.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 446.42 677.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 468.52 677.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 502.83 677.10 Td (or ) Tj ET Q q 0 0 0 rg BT 513.27 677.10 Td (not ) Tj ET Q q 0 0 0 rg BT 528.15 677.10 Td (declared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 665.10 Td (by ) Tj ET Q q 0 0 0 rg BT 62.27 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 76.75 665.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 103.45 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 114.05 665.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 153.52 665.10 Td (at ) Tj ET Q q 0 0 0 rg BT 163.00 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 177.49 665.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 194.74 665.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.33 665.10 Td ($0.045) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.83 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 235.10 665.10 Td (per ) Tj ET Q q 0 0 0 rg BT 250.13 665.10 Td (share ) Tj ET Q q 0 0 0 rg BT 273.50 665.10 Td (per ) Tj ET Q q 0 0 0 rg BT 288.53 665.10 Td (year ) Tj ET Q q 0 0 0 rg BT 308.00 665.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.33 665.10 Td (4.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.16 665.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 337.76 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 354.46 665.10 Td (may ) Tj ET Q q 0 0 0 rg BT 373.95 665.10 Td (be ) Tj ET Q q 0 0 0 rg BT 385.65 665.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 405.13 665.10 Td (in ) Tj ET Q q 0 0 0 rg BT 415.18 665.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 435.21 665.10 Td (or ) Tj ET Q q 0 0 0 rg BT 445.81 665.10 Td (in ) Tj ET Q q 0 0 0 rg BT 455.85 665.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 498.11 665.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 537.01 665.10 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 653.10 Td (at ) Tj ET Q q 0 0 0 rg BT 59.97 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.93 653.10 Td (option ) Tj ET Q q 0 0 0 rg BT 103.24 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 113.71 653.10 Td (Atlas. ) Tj ET Q q 0 0 0 rg BT 140.07 653.10 Td (In ) Tj ET Q q 0 0 0 rg BT 151.15 653.10 Td (liquidation, ) Tj ET Q q 0 0 0 rg BT 199.73 653.10 Td (dissolution ) Tj ET Q q 0 0 0 rg BT 246.38 653.10 Td (or ) Tj ET Q q 0 0 0 rg BT 257.46 653.10 Td (winding-up ) Tj ET Q q 0 0 0 rg BT 306.32 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 316.79 653.10 Td (Atlas, ) Tj ET Q q 0 0 0 rg BT 343.15 653.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 382.54 653.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 435.83 653.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 467.44 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 482.41 653.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 512.91 653.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.99 653.10 Td ($1.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.49 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 549.24 653.10 Td (per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.10 Td (share ) Tj ET Q q 0 0 0 rg BT 72.82 641.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 91.20 641.10 Td (all ) Tj ET Q q 0 0 0 rg BT 102.92 641.10 Td (declared ) Tj ET Q q 0 0 0 rg BT 138.50 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 154.65 641.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 183.59 641.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 224.19 641.10 Td (or ) Tj ET Q q 0 0 0 rg BT 234.24 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 248.17 641.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 279.89 641.10 Td (it ) Tj ET Q q 0 0 0 rg BT 287.16 641.10 Td (would ) Tj ET Q q 0 0 0 rg BT 313.88 641.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 344.46 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 353.96 641.10 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 399.00 641.10 Td (if ) Tj ET Q q 0 0 0 rg BT 406.83 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 420.76 641.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 459.12 641.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 485.83 641.10 Td (had ) Tj ET Q q 0 0 0 rg BT 501.98 641.10 Td (been ) Tj ET Q q 0 0 0 rg BT 522.58 641.10 Td (converted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 61.30 629.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 102.02 629.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 131.10 629.10 Td (common ) Tj ET Q q 0 0 0 rg BT 169.61 629.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 198.12 629.10 Td (or ) Tj ET Q q 0 0 0 rg BT 209.97 629.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 247.37 629.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 276.44 629.10 Td (common ) Tj ET Q q 0 0 0 rg BT 314.96 629.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 343.47 629.10 Td (immediately ) Tj ET Q q 0 0 0 rg BT 396.97 629.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 419.93 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 431.23 629.10 Td (liquidation. ) Tj ET Q q 0 0 0 rg BT 480.58 629.10 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 521.29 629.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 549.80 629.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 617.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 97.49 617.10 Td (into ) Tj ET Q q 0 0 0 rg BT 115.56 617.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 151.94 617.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 180.01 617.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 207.51 617.10 Td (at ) Tj ET Q q 0 0 0 rg BT 217.24 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 231.96 617.10 Td (option ) Tj ET Q q 0 0 0 rg BT 260.03 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 270.87 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 285.60 617.10 Td (holder ) Tj ET Q q 0 0 0 rg BT 313.65 617.10 Td (at ) Tj ET Q q 0 0 0 rg BT 323.38 617.10 Td (any ) Tj ET Q q 0 0 0 rg BT 340.33 617.10 Td (date ) Tj ET Q q 0 0 0 rg BT 359.49 617.10 Td (after ) Tj ET Q q 0 0 0 rg BT 380.32 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 395.04 617.10 Td (fifth ) Tj ET Q q 0 0 0 rg BT 414.77 617.10 Td (year ) Tj ET Q q 0 0 0 rg BT 434.49 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 445.33 617.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 481.71 617.10 Td (at ) Tj ET Q q 0 0 0 rg BT 491.44 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 506.17 617.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 523.66 617.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.50 617.10 Td (0.1270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.00 617.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 605.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 85.90 605.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 113.47 605.10 Td (common ) Tj ET Q q 0 0 0 rg BT 150.49 605.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 177.50 605.10 Td (for ) Tj ET Q q 0 0 0 rg BT 191.17 605.10 Td (each ) Tj ET Q q 0 0 0 rg BT 211.51 605.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 250.16 605.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 275.64 605.10 Td (The ) Tj ET Q q 0 0 0 rg BT 293.20 605.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 339.10 605.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 356.10 605.10 Td (is ) Tj ET Q q 0 0 0 rg BT 364.79 605.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 395.13 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 404.93 605.10 Td (change ) Tj ET Q q 0 0 0 rg BT 435.27 605.10 Td (if ) Tj ET Q q 0 0 0 rg BT 443.39 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 457.63 605.10 Td (number ) Tj ET Q q 0 0 0 rg BT 490.20 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 500.54 605.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 536.44 605.10 Td (voting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 593.10 Td (common ) Tj ET Q q 0 0 0 rg BT 87.15 593.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 114.30 593.10 Td (or ) Tj ET Q q 0 0 0 rg BT 124.79 593.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 164.16 593.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 191.87 593.10 Td (common ) Tj ET Q q 0 0 0 rg BT 229.03 593.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 256.18 593.10 Td (changes. ) Tj ET Q q 0 0 0 rg BT 293.04 593.10 Td ( ) Tj ET Q q 0 0 0 rg BT 295.05 593.10 Td (The ) Tj ET Q q 0 0 0 rg BT 312.75 593.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 351.55 593.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 378.70 593.10 Td (are ) Tj ET Q q 0 0 0 rg BT 393.07 593.10 Td (redeemable ) Tj ET Q q 0 0 0 rg BT 441.30 593.10 Td (at ) Tj ET Q q 0 0 0 rg BT 450.68 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 465.06 593.10 Td (option ) Tj ET Q q 0 0 0 rg BT 492.77 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 502.79 593.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 526.05 593.10 Td (at ) Tj ET Q q 0 0 0 rg BT 535.43 593.10 Td (a ) Tj ET Q q 0 0 0 rg BT 542.03 593.10 Td (price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 581.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.73 581.10 Td ($1.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.23 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.64 581.10 Td (per ) Tj ET Q q 0 0 0 rg BT 100.81 581.10 Td (share ) Tj ET Q q 0 0 0 rg BT 124.32 581.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 143.39 581.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 176.88 581.10 Td (and ) Tj ET Q q 0 0 0 rg BT 193.72 581.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 223.34 581.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 264.64 581.10 Td (commencing ) Tj ET Q q 0 0 0 rg BT 318.69 581.10 Td (at ) Tj ET Q q 0 0 0 rg BT 328.31 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 342.93 581.10 Td (earlier ) Tj ET Q q 0 0 0 rg BT 370.87 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 381.61 581.10 Td (two ) Tj ET Q q 0 0 0 rg BT 399.01 581.10 Td (years ) Tj ET Q q 0 0 0 rg BT 422.51 581.10 Td (from ) Tj ET Q q 0 0 0 rg BT 444.36 581.10 Td (January ) Tj ET Q q 0 0 0 rg BT 477.86 581.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 487.77 581.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 510.17 581.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 528.12 581.10 Td (issuance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 569.10 Td (date ) Tj ET Q q 0 0 0 rg BT 69.16 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 79.99 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 94.70 569.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 133.84 569.10 Td (shares\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 552.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.83 552.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 114.55 552.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 146.83 552.10 Td (of ) Tj ET Q q 0 0 0 rg BT 157.44 552.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 198.61 552.10 Td (to ) Tj ET Q q 0 0 0 rg BT 208.68 552.10 Td (which ) Tj ET Q q 0 0 0 rg BT 235.40 552.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.90 552.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 288.82 552.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 341.65 552.10 Td (are ) Tj ET Q q 0 0 0 rg BT 356.14 552.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 388.41 552.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 410.70 552.10 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 456.31 552.10 Td (or ) Tj ET Q q 0 0 0 rg BT 466.93 552.10 Td (sooner) Tj ET Q q 0 0 0 rg BT 493.19 552.10 Td (, ) Tj ET Q q 0 0 0 rg BT 497.97 552.10 Td (if ) Tj ET Q q 0 0 0 rg BT 505.86 552.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 529.26 552.10 Td (declares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 540.10 Td (dividends, ) Tj ET Q q 0 0 0 rg BT 93.89 540.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.06 540.10 Td ($184,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.56 540.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.06 540.10 Td (as ) Tj ET Q q 0 0 0 rg BT 153.89 540.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.72 540.10 Td (the ) Tj ET Q q 0 0 0 rg BT 179.43 540.10 Td (year ) Tj ET Q q 0 0 0 rg BT 199.14 540.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 225.52 540.10 Td (December ) Tj ET Q q 0 0 0 rg BT 269.10 540.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 284.10 540.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.10 540.10 Td (, ) Tj ET Q q 0 0 0 rg BT 309.10 540.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.93 540.10 Td ($0.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.43 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 344.93 540.10 Td (per ) Tj ET Q q 0 0 0 rg BT 360.20 540.10 Td (common ) Tj ET Q q 0 0 0 rg BT 397.70 540.10 Td (share.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.10 Td (On ) Tj ET Q q 0 0 0 rg BT 65.17 523.10 Td (October ) Tj ET Q q 0 0 0 rg BT 100.32 523.10 Td (18, ) Tj ET Q q 0 0 0 rg BT 115.76 523.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 138.70 523.10 Td (and ) Tj ET Q q 0 0 0 rg BT 156.08 523.10 Td (on ) Tj ET Q q 0 0 0 rg BT 169.03 523.10 Td (November ) Tj ET Q q 0 0 0 rg BT 214.18 523.10 Td (13, ) Tj ET Q q 0 0 0 rg BT 229.62 523.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 255.06 523.10 Td (Kingsway ) Tj ET Q q 0 0 0 rg BT 298.56 523.10 Td (notified ) Tj ET Q q 0 0 0 rg BT 332.61 523.10 Td (the ) Tj ET Q q 0 0 0 rg BT 347.77 523.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 389.60 523.10 Td (that ) Tj ET Q q 0 0 0 rg BT 407.54 523.10 Td (it ) Tj ET Q q 0 0 0 rg BT 416.04 523.10 Td (had ) Tj ET Q q 0 0 0 rg BT 433.42 523.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 453.03 523.10 Td (529,608 ) Tj ET Q q 0 0 0 rg BT 488.47 523.10 Td (and ) Tj ET Q q 0 0 0 rg BT 505.86 523.10 Td (600,000 ) Tj ET Q q 0 0 0 rg BT 541.30 523.10 Td (of ) Tj ET Q q 0 0 0 rg BT 552.57 523.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 90.54 511.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 121.36 511.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 169.02 511.10 Td (, ) Tj ET Q q 0 0 0 rg BT 174.86 511.10 Td (bringing ) Tj ET Q q 0 0 0 rg BT 212.08 511.10 Td (its ) Tj ET Q q 0 0 0 rg BT 224.86 511.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 265.39 511.10 Td (share ) Tj ET Q q 0 0 0 rg BT 289.83 511.10 Td (count ) Tj ET Q q 0 0 0 rg BT 315.38 511.10 Td (to ) Tj ET Q q 0 0 0 rg BT 326.49 511.10 Td (132,863 ) Tj ET Q q 0 0 0 rg BT 362.32 511.10 Td (or ) Tj ET Q q 0 0 0 rg BT 373.99 511.10 Td (1.4% ) Tj ET Q q 0 0 0 rg BT 398.15 511.10 Td (of ) Tj ET Q q 0 0 0 rg BT 409.82 511.10 Td (the ) Tj ET Q q 0 0 0 rg BT 425.37 511.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 475.37 511.10 Td (common ) Tj ET Q q 0 0 0 rg BT 513.70 511.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 542.02 511.10 Td (as ) Tj ET Q q 0 0 0 rg BT 553.68 511.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.58 499.10 Td (2013. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.10 Td (During ) Tj ET Q q 0 0 0 rg BT 80.75 475.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 105.14 475.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 128.67 475.10 Td (declared ) Tj ET Q q 0 0 0 rg BT 164.95 475.10 Td (and ) Tj ET Q q 0 0 0 rg BT 181.81 475.10 Td (paid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.45 475.10 Td ($2.1 ) Tj ET Q q 0 0 0 rg BT 221.37 475.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.27 475.10 Td ( ) Tj ET Q q 0 0 0 rg BT 252.69 475.10 Td (in ) Tj ET Q q 0 0 0 rg BT 262.89 475.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 304.20 475.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 333.26 475.10 Td (through ) Tj ET Q q 0 0 0 rg BT 366.79 475.10 Td (the ) Tj ET Q q 0 0 0 rg BT 381.43 475.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 420.49 475.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 447.90 475.10 Td (to ) Tj ET Q q 0 0 0 rg BT 458.10 475.10 Td (Kingsway) Tj ET Q q 0 0 0 rg BT 498.01 475.10 Td (, ) Tj ET Q q 0 0 0 rg BT 502.93 475.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.57 475.10 Td (cumulative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 82.50 463.10 Td (to ) Tj ET Q q 0 0 0 rg BT 92.77 463.10 Td (which ) Tj ET Q q 0 0 0 rg BT 119.71 463.10 Td (they ) Tj ET Q q 0 0 0 rg BT 139.43 463.10 Td (were ) Tj ET Q q 0 0 0 rg BT 161.36 463.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 193.85 463.10 Td (through ) Tj ET Q q 0 0 0 rg BT 227.46 463.10 Td (the ) Tj ET Q q 0 0 0 rg BT 242.17 463.10 Td (end ) Tj ET Q q 0 0 0 rg BT 259.11 463.10 Td (of ) Tj ET Q q 0 0 0 rg BT 269.94 463.10 Td (July ) Tj ET Q q 0 0 0 rg BT 289.11 463.10 Td (2013. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (During ) Tj ET Q q 0 0 0 rg BT 80.82 439.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 105.82 439.10 Td (1,327,840 ) Tj ET Q q 0 0 0 rg BT 148.31 439.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 185.24 439.10 Td (and ) Tj ET Q q 0 0 0 rg BT 202.17 439.10 Td (1,000 ) Tj ET Q q 0 0 0 rg BT 227.16 439.10 Td (options ) Tj ET Q q 0 0 0 rg BT 259.10 439.10 Td (were ) Tj ET Q q 0 0 0 rg BT 281.03 439.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 321.28 439.10 Td (which ) Tj ET Q q 0 0 0 rg BT 348.21 439.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 382.36 439.10 Td (in ) Tj ET Q q 0 0 0 rg BT 392.63 439.10 Td (the ) Tj ET Q q 0 0 0 rg BT 407.34 439.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 443.71 439.10 Td (of ) Tj ET Q q 0 0 0 rg BT 454.54 439.10 Td (1,328,840 ) Tj ET Q q 0 0 0 rg BT 497.03 439.10 Td (common ) Tj ET Q q 0 0 0 rg BT 534.52 439.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 564.51 439.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 422.10 Td (On ) Tj ET Q q 0 0 0 rg BT 65.13 422.10 Td (May ) Tj ET Q q 0 0 0 rg BT 86.37 422.10 Td (27, ) Tj ET Q q 0 0 0 rg BT 101.78 422.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 126.55 422.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 150.57 422.10 Td (announced ) Tj ET Q q 0 0 0 rg BT 196.79 422.10 Td (the ) Tj ET Q q 0 0 0 rg BT 211.92 422.10 Td (closing ) Tj ET Q q 0 0 0 rg BT 243.72 422.10 Td (and ) Tj ET Q q 0 0 0 rg BT 261.07 422.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 305.08 422.10 Td (of ) Tj ET Q q 0 0 0 rg BT 316.32 422.10 Td (its ) Tj ET Q q 0 0 0 rg BT 328.67 422.10 Td (underwritten ) Tj ET Q q 0 0 0 rg BT 382.68 422.10 Td (public ) Tj ET Q q 0 0 0 rg BT 410.58 422.10 Td (of) Tj ET Q q 0 0 0 rg BT 418.73 422.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 445.52 422.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.76 422.10 Td (2,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.76 422.10 Td ( ) Tj ET Q q 0 0 0 rg BT 499.67 422.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 536.46 422.10 Td (voting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.10 Td (common ) Tj ET Q q 0 0 0 rg BT 87.99 410.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 115.98 410.10 Td (of ) Tj ET Q q 0 0 0 rg BT 127.31 410.10 Td (the ) Tj ET Q q 0 0 0 rg BT 142.52 410.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 184.41 410.10 Td (at ) Tj ET Q q 0 0 0 rg BT 194.62 410.10 Td (a ) Tj ET Q q 0 0 0 rg BT 202.06 410.10 Td (price ) Tj ET Q q 0 0 0 rg BT 225.04 410.10 Td (to ) Tj ET Q q 0 0 0 rg BT 235.82 410.10 Td (the ) Tj ET Q q 0 0 0 rg BT 251.04 410.10 Td (public ) Tj ET Q q 0 0 0 rg BT 279.03 410.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.36 410.10 Td ($12.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.86 410.10 Td ( ) Tj ET Q q 0 0 0 rg BT 320.85 410.10 Td (per ) Tj ET Q q 0 0 0 rg BT 336.62 410.10 Td (share ) Tj ET Q q 0 0 0 rg BT 360.72 410.10 Td (for ) Tj ET Q q 0 0 0 rg BT 375.38 410.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 399.49 410.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 438.02 410.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.35 410.10 Td ($25.0 ) Tj ET Q q 0 0 0 rg BT 474.85 410.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.74 410.10 Td (. ) Tj ET Q q 0 0 0 rg BT 509.24 410.10 Td (Underwriters ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 89.55 398.10 Td (their ) Tj ET Q q 0 0 0 rg BT 109.66 398.10 Td (right ) Tj ET Q q 0 0 0 rg BT 130.34 398.10 Td (to ) Tj ET Q q 0 0 0 rg BT 139.91 398.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 177.24 398.10 Td (an ) Tj ET Q q 0 0 0 rg BT 188.47 398.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.25 398.10 Td (161,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.75 398.10 Td ( ) Tj ET Q q 0 0 0 rg BT 264.55 398.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 300.21 398.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 327.56 398.10 Td (common ) Tj ET Q q 0 0 0 rg BT 364.35 398.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 393.63 398.10 Td (increasing ) Tj ET Q q 0 0 0 rg BT 436.52 398.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 459.42 398.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 496.75 398.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.32 398.10 Td ($27.0 ) Tj ET Q q 0 0 0 rg BT 530.62 398.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.51 398.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.39 386.10 Td (net ) Tj ET Q q 0 0 0 rg BT 83.45 386.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 121.83 386.10 Td (from ) Tj ET Q q 0 0 0 rg BT 144.11 386.10 Td (the ) Tj ET Q q 0 0 0 rg BT 159.17 386.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 177.56 386.10 Td (of ) Tj ET Q q 0 0 0 rg BT 188.74 386.10 Td (the ) Tj ET Q q 0 0 0 rg BT 203.80 386.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 234.13 386.10 Td (after ) Tj ET Q q 0 0 0 rg BT 255.29 386.10 Td (deducting ) Tj ET Q q 0 0 0 rg BT 297.56 386.10 Td (the ) Tj ET Q q 0 0 0 rg BT 312.63 386.10 Td (underwriters) Tj ET Q q 0 0 0 rg BT 365.75 386.10 Td ( ) Tj ET Q q 0 0 0 rg BT 368.59 386.10 Td (discounts ) Tj ET Q q 0 0 0 rg BT 409.21 386.10 Td (and ) Tj ET Q q 0 0 0 rg BT 426.50 386.10 Td (other ) Tj ET Q q 0 0 0 rg BT 449.89 386.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 491.05 386.10 Td (of) Tj ET Q q 0 0 0 rg BT 499.20 386.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 525.92 386.10 Td (expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 83.59 374.10 Td (by ) Tj ET Q q 0 0 0 rg BT 96.09 374.10 Td (the ) Tj ET Q q 0 0 0 rg BT 110.81 374.10 Td (Company) Tj ET Q q 0 0 0 rg BT 149.05 374.10 Td (, ) Tj ET Q q 0 0 0 rg BT 154.05 374.10 Td (were ) Tj ET Q q 0 0 0 rg BT 175.98 374.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.24 374.10 Td ($25.0 ) Tj ET Q q 0 0 0 rg BT 261.24 374.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.13 374.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (Book ) Tj ET Q q 0 0 0 rg BT 74.55 340.10 Td (V) Tj ET Q q 0 0 0 rg BT 80.85 340.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 101.13 340.10 Td (per) Tj ET Q q 0 0 0 rg BT 115.39 340.10 Td ( ) Tj ET Q q 0 0 0 rg BT 117.89 340.10 Td (Ordinary ) Tj ET Q q 0 0 0 rg BT 160.95 340.10 Td (Shar) Tj ET Q q 0 0 0 rg BT 181.33 340.10 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.10 Td (Book ) Tj ET Q q 0 0 0 rg BT 74.17 323.10 Td (value ) Tj ET Q q 0 0 0 rg BT 98.33 323.10 Td (per ) Tj ET Q q 0 0 0 rg BT 113.59 323.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 149.97 323.10 Td (share ) Tj ET Q q 0 0 0 rg BT 173.57 323.10 Td (was ) Tj ET Q q 0 0 0 rg BT 191.62 323.10 Td (as ) Tj ET Q q 0 0 0 rg BT 202.45 323.10 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 307.60 312.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 307.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 307.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 277.60 312.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 277.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 277.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 247.60 312.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 247.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 247.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 217.60 312.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 217.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 217.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 187.60 312.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 187.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 187.60 100.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 307.6 m 461.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 292.6 m 461.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 307.6 m 561.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 292.6 m 561.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 292.6 m 461.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 292.6 m 561.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 247.60000000000002 m 461.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 247.60000000000002 m 561.5 247.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 296.83 Td (\($ in '000s, except for shares and per share data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.65 297.28 Td (December 31, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.65 297.28 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 282.27 Td (Shareholders' equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 282.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 282.27 Td (109,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 282.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 282.27 Td (63,698) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 267.27 Td (Less: Preferred stock in equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 267.27 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 267.27 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 252.27 Td (Less: Accumulated dividends on preferred stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 252.27 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 252.27 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 237.27 Td (Common equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 237.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 237.27 Td (107,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 237.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 237.27 Td (61,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 222.27 Td (Participative shares:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 207.27 Td ( Common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 207.27 Td (11,771,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 207.27 Td (9,424,734) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 192.27 Td ( Restricted stock units \(RSUs\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 192.27 Td (37,038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 192.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 177.27 Td (Total participative shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 177.27 Td (11,808,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 177.27 Td (9,424,734) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 162.27 Td (Book value per participative share outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 162.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 162.27 Td (9.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 162.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 162.27 Td (6.54) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 92.52 124.10 Td (and ) Tj ET Q q 0 0 0 rg BT 111.14 124.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 145.31 124.10 Td (Resour) Tj ET Q q 0 0 0 rg BT 175.68 124.10 Td (ces) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.45 107.10 Td (purpose ) Tj ET Q q 0 0 0 rg BT 103.01 107.10 Td (of ) Tj ET Q q 0 0 0 rg BT 114.24 107.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 151.03 107.10 Td (management ) Tj ET Q q 0 0 0 rg BT 205.02 107.10 Td (is ) Tj ET Q q 0 0 0 rg BT 214.59 107.10 Td (to ) Tj ET Q q 0 0 0 rg BT 225.27 107.10 Td (ensure ) Tj ET Q q 0 0 0 rg BT 254.27 107.10 Td (there ) Tj ET Q q 0 0 0 rg BT 277.15 107.10 Td (is ) Tj ET Q q 0 0 0 rg BT 286.72 107.10 Td (suf) Tj ET Q q 0 0 0 rg BT 298.76 107.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 327.21 107.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 347.88 107.10 Td (to ) Tj ET Q q 0 0 0 rg BT 358.55 107.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 380.89 107.10 Td (all ) Tj ET Q q 0 0 0 rg BT 393.78 107.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 431.67 107.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 489.00 107.10 Td (and ) Tj ET Q q 0 0 0 rg BT 506.34 107.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 553.69 107.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.10 Td (they ) Tj ET Q q 0 0 0 rg BT 69.20 95.10 Td (become ) Tj ET Q q 0 0 0 rg BT 102.28 95.10 Td (due. ) Tj ET Q q 0 0 0 rg BT 121.06 95.10 Td (The ) Tj ET Q q 0 0 0 rg BT 138.59 95.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 174.46 95.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 228.65 95.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.53 95.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 262.22 95.10 Td ( ) Tj ET Q q 0 0 0 rg BT 264.21 95.10 Td (business ) Tj ET Q q 0 0 0 rg BT 300.08 95.10 Td (have ) Tj ET Q q 0 0 0 rg BT 320.94 95.10 Td (been ) Tj ET Q q 0 0 0 rg BT 341.80 95.10 Td (met ) Tj ET Q q 0 0 0 rg BT 358.78 95.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 397.98 95.10 Td (by ) Tj ET Q q 0 0 0 rg BT 409.96 95.10 Td (funds ) Tj ET Q q 0 0 0 rg BT 434.17 95.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 475.01 95.10 Td (from ) Tj ET Q q 0 0 0 rg BT 496.44 95.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 542.57 95.10 Td (asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.10 Td (maturities ) Tj ET Q q 0 0 0 rg BT 92.63 83.10 Td (and ) Tj ET Q q 0 0 0 rg BT 109.70 83.10 Td (income ) Tj ET Q q 0 0 0 rg BT 141.77 83.10 Td (and ) Tj ET Q q 0 0 0 rg BT 158.84 83.10 Td (other ) Tj ET Q q 0 0 0 rg BT 182.03 83.10 Td (returns ) Tj ET Q q 0 0 0 rg BT 212.43 83.10 Td (received ) Tj ET Q q 0 0 0 rg BT 248.93 83.10 Td (on ) Tj ET Q q 0 0 0 rg BT 261.56 83.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 304.46 83.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 327.10 83.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 365.28 83.10 Td (from ) Tj ET Q q 0 0 0 rg BT 387.36 83.10 Td (these ) Tj ET Q q 0 0 0 rg BT 410.54 83.10 Td (sources ) Tj ET Q q 0 0 0 rg BT 443.17 83.10 Td (is ) Tj ET Q q 0 0 0 rg BT 452.47 83.10 Td (used ) Tj ET Q q 0 0 0 rg BT 473.44 83.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 513.28 83.10 Td (for ) Tj ET Q q 0 0 0 rg BT 527.58 83.10 Td (payment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.76 71.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 91.29 71.10 Td (and ) Tj ET Q q 0 0 0 rg BT 109.16 71.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 150.35 71.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 192.13 71.10 Td (The ) Tj ET Q q 0 0 0 rg BT 211.10 71.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 240.64 71.10 Td (and ) Tj ET Q q 0 0 0 rg BT 258.51 71.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 291.93 71.10 Td (of ) Tj ET Q q 0 0 0 rg BT 303.69 71.10 Td (catastrophe ) Tj ET Q q 0 0 0 rg BT 352.65 71.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 382.18 71.10 Td (are ) Tj ET Q q 0 0 0 rg BT 397.81 71.10 Td (inherently ) Tj ET Q q 0 0 0 rg BT 441.78 71.10 Td (unpredictable ) Tj ET Q q 0 0 0 rg BT 499.63 71.10 Td (and ) Tj ET Q q 0 0 0 rg BT 517.50 71.10 Td (may ) Tj ET Q q 0 0 0 rg BT 538.14 71.10 Td (create ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 90.25 59.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 126.65 59.10 Td (requirements. ) Tj ET Q endstream endobj 103 0 obj <> endobj 104 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.30 742.10 Td (total ) Tj ET Q q 0 0 0 rg BT 88.83 742.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 127.12 742.10 Td (price ) Tj ET Q q 0 0 0 rg BT 149.86 742.10 Td (for ) Tj ET Q q 0 0 0 rg BT 164.27 742.10 Td (all ) Tj ET Q q 0 0 0 rg BT 177.02 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 188.11 742.10 Td (Camelot ) Tj ET Q q 0 0 0 rg BT 224.74 742.10 Td (Services) Tj ET Q q 0 0 0 rg BT 261.21 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 263.96 742.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 313.38 742.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 341.12 742.10 Td (was ) Tj ET Q q 0 0 0 rg BT 359.43 742.10 Td ($14.3 ) Tj ET Q q 0 0 0 rg BT 384.68 742.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 418.83 742.10 Td (consisting ) Tj ET Q q 0 0 0 rg BT 462.14 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 473.22 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 480.42 742.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 533.16 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 544.24 742.10 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.15 730.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 89.46 730.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 128.29 730.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 157.98 730.10 Td (Consideration ) Tj ET Q q 0 0 0 rg BT 216.28 730.10 Td (consisted ) Tj ET Q q 0 0 0 rg BT 255.70 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 266.23 730.10 Td (a ) Tj ET Q q 0 0 0 rg BT 272.87 730.10 Td ($6.0 ) Tj ET Q q 0 0 0 rg BT 292.56 730.10 Td (million ) Tj ET Q q 0 0 0 rg BT 323.66 730.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 360.85 730.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 380.26 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 390.24 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 404.66 730.10 Td (sellers ) Tj ET Q q 0 0 0 rg BT 432.40 730.10 Td (immediately ) Tj ET Q q 0 0 0 rg BT 484.59 730.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 506.22 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 516.20 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.62 730.10 Td (closing, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td ($2.0 ) Tj ET Q q 0 0 0 rg BT 69.34 718.10 Td (million ) Tj ET Q q 0 0 0 rg BT 100.08 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.84 718.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 132.79 718.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 171.27 718.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 198.10 718.10 Td (\(consisting ) Tj ET Q q 0 0 0 rg BT 243.83 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.00 718.10 Td (a ) Tj ET Q q 0 0 0 rg BT 260.29 718.10 Td (total ) Tj ET Q q 0 0 0 rg BT 279.90 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 290.07 718.10 Td (2,000,000 ) Tj ET Q q 0 0 0 rg BT 331.92 718.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 370.39 718.10 Td (shares\) ) Tj ET Q q 0 0 0 rg BT 400.56 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 416.84 718.10 Td ($6.3 ) Tj ET Q q 0 0 0 rg BT 436.18 718.10 Td (million ) Tj ET Q q 0 0 0 rg BT 466.91 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 476.53 718.10 Td (cash. ) Tj ET Q q 0 0 0 rg BT 498.51 718.10 Td (This ) Tj ET Q q 0 0 0 rg BT 518.13 718.10 Td (transaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (did ) Tj ET Q q 0 0 0 rg BT 65.28 706.10 Td (not ) Tj ET Q q 0 0 0 rg BT 80.56 706.10 Td (impair ) Tj ET Q q 0 0 0 rg BT 109.16 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 124.99 706.10 Td (near) Tj ET Q q 0 0 0 rg BT 142.00 706.10 Td (-term ) Tj ET Q q 0 0 0 rg BT 166.15 706.10 Td (liquidity) Tj ET Q q 0 0 0 rg BT 199.39 706.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 689.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.15 689.10 Td (a ) Tj ET Q q 0 0 0 rg BT 69.63 689.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 102.22 689.10 Td (company) Tj ET Q q 0 0 0 rg BT 138.23 689.10 Td (, ) Tj ET Q q 0 0 0 rg BT 142.31 689.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 165.46 689.10 Td (may ) Tj ET Q q 0 0 0 rg BT 184.72 689.10 Td (derive ) Tj ET Q q 0 0 0 rg BT 211.74 689.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 231.54 689.10 Td (from ) Tj ET Q q 0 0 0 rg BT 253.02 689.10 Td (its ) Tj ET Q q 0 0 0 rg BT 264.51 689.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 313.76 689.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 353.00 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 362.82 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 377.07 689.10 Td (form ) Tj ET Q q 0 0 0 rg BT 398.55 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 408.91 689.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 449.84 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 466.31 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 476.13 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 490.39 689.10 Td (future ) Tj ET Q q 0 0 0 rg BT 516.30 689.10 Td (may ) Tj ET Q q 0 0 0 rg BT 535.55 689.10 Td (char) Tj ET Q q 0 0 0 rg BT 552.58 689.10 Td (ge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 677.10 Td (management ) Tj ET Q q 0 0 0 rg BT 103.21 677.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 121.43 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 131.33 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.67 677.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 172.22 677.10 Td (allowed ) Tj ET Q q 0 0 0 rg BT 206.00 677.10 Td (by ) Tj ET Q q 0 0 0 rg BT 218.12 677.10 Td (statute ) Tj ET Q q 0 0 0 rg BT 246.34 677.10 Td (or ) Tj ET Q q 0 0 0 rg BT 256.79 677.10 Td (other ) Tj ET Q q 0 0 0 rg BT 279.46 677.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 322.67 677.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 359.78 677.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 414.10 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 424.00 677.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 445.55 677.10 Td (its ) Tj ET Q q 0 0 0 rg BT 457.12 677.10 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 506.03 677.10 Td (The ) Tj ET Q q 0 0 0 rg BT 523.70 677.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 665.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 99.60 665.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 120.31 665.10 Td (their ) Tj ET Q q 0 0 0 rg BT 141.02 665.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 187.84 665.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 227.44 665.10 Td (through ) Tj ET Q q 0 0 0 rg BT 260.93 665.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 299.41 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 316.23 665.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 362.50 665.10 Td (income ) Tj ET Q q 0 0 0 rg BT 394.31 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 411.13 665.10 Td (maturities ) Tj ET Q q 0 0 0 rg BT 453.50 665.10 Td (in ) Tj ET Q q 0 0 0 rg BT 463.66 665.10 Td (their ) Tj ET Q q 0 0 0 rg BT 484.37 665.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 524.52 665.10 Td (portfolio. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 653.10 Td (Refer ) Tj ET Q q 0 0 0 rg BT 74.52 653.10 Td (also ) Tj ET Q q 0 0 0 rg BT 92.93 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 103.02 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.55 653.10 Td (discussion ) Tj ET Q q 0 0 0 rg BT 161.53 653.10 Td (Investments ) Tj ET Q q 0 0 0 rg BT 216.60 653.10 Td (Overview ) Tj ET Q q 0 0 0 rg BT 258.34 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 275.09 653.10 Td (Strategy) Tj ET Q q 0 0 0 rg BT 307.76 653.10 Td (." ) Tj ET Q q 0 0 0 rg BT 316.49 653.10 Td (The ) Tj ET Q q 0 0 0 rg BT 334.34 653.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 374.97 653.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 424.50 653.10 Td (require ) Tj ET Q q 0 0 0 rg BT 455.12 653.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 498.52 653.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 535.82 653.10 Td (for ) Tj ET Q q 0 0 0 rg BT 549.79 653.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.10 Td (return ) Tj ET Q q 0 0 0 rg BT 76.33 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 87.11 641.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 116.22 641.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 135.61 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 145.84 641.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 175.49 641.10 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 237.09 641.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 273.97 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 284.75 641.10 Td (dividends. ) Tj ET Q q 0 0 0 rg BT 328.59 641.10 Td (In ) Tj ET Q q 0 0 0 rg BT 339.38 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 354.05 641.10 Td (event ) Tj ET Q q 0 0 0 rg BT 378.15 641.10 Td (that ) Tj ET Q q 0 0 0 rg BT 395.60 641.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 436.94 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.83 641.10 Td (management ) Tj ET Q q 0 0 0 rg BT 507.37 641.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 525.92 641.10 Td (available ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.39 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.21 629.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 108.37 629.10 Td (company ) Tj ET Q q 0 0 0 rg BT 147.64 629.10 Td (are ) Tj ET Q q 0 0 0 rg BT 162.45 629.10 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 208.37 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 218.75 629.10 Td (service ) Tj ET Q q 0 0 0 rg BT 249.68 629.10 Td (its ) Tj ET Q q 0 0 0 rg BT 261.73 629.10 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 311.28 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.11 629.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 359.27 629.10 Td (company ) Tj ET Q q 0 0 0 rg BT 398.54 629.10 Td (would ) Tj ET Q q 0 0 0 rg BT 426.14 629.10 Td (need ) Tj ET Q q 0 0 0 rg BT 447.63 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 458.01 629.10 Td (raise ) Tj ET Q q 0 0 0 rg BT 479.50 629.10 Td (capital, ) Tj ET Q q 0 0 0 rg BT 511.25 629.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 527.75 629.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 553.69 629.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 617.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 72.49 617.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 91.65 617.10 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 140.53 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 142.05 617.10 Td (As ) Tj ET Q q 0 0 0 rg BT 155.10 617.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.26 617.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 222.29 617.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.29 617.10 Td (, ) Tj ET Q q 0 0 0 rg BT 246.30 617.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 269.35 617.10 Td (did ) Tj ET Q q 0 0 0 rg BT 284.07 617.10 Td (not ) Tj ET Q q 0 0 0 rg BT 298.79 617.10 Td (have ) Tj ET Q q 0 0 0 rg BT 319.61 617.10 Td (any ) Tj ET Q q 0 0 0 rg BT 336.00 617.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 384.60 617.10 Td (debt, ) Tj ET Q q 0 0 0 rg BT 406.26 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 422.64 617.10 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 463.17 617.10 Td (no ) Tj ET Q q 0 0 0 rg BT 475.11 617.10 Td (near ) Tj ET Q q 0 0 0 rg BT 494.26 617.10 Td (term ) Tj ET Q q 0 0 0 rg BT 514.53 617.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 533.69 617.10 Td (service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 605.10 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 98.89 605.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 122.50 605.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 161.09 605.10 Td (has ) Tj ET Q q 0 0 0 rg BT 176.92 605.10 Td (no ) Tj ET Q q 0 0 0 rg BT 189.42 605.10 Td (material ) Tj ET Q q 0 0 0 rg BT 224.68 605.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 281.62 605.10 Td (for ) Tj ET Q q 0 0 0 rg BT 295.78 605.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 324.93 605.10 Td (expenditures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 588.10 Td (The following table summarizes consolidated cash flow activities:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.00 563.35 Td (Summary of Cash Flows \(in 000s\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 557.60 362.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 557.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 557.60 6.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 557.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 528.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 528.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 528.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 528.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 498.60 362.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 498.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 498.60 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.50 498.60 72.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 557.6 m 483.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 543.6 m 483.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 557.6 m 489.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 543.6 m 489.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 557.6 m 561.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 543.6 m 561.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 543.6 m 483.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 543.6 m 561.5 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 498.6 m 483.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 484.6 m 483.5 484.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 482.6 m 483.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 498.6 m 489.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 484.6 m 489.5 484.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 482.6 m 489.5 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 498.6 m 561.5 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 484.6 m 561.5 484.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 482.6 m 561.5 482.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 548.28 Td (For the years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.00 548.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.00 548.28 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 533.27 Td (Net cash flows provided by \(used in\) operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 533.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 533.27 Td (13,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 533.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 533.32 Td (\(5,920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 533.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 518.27 Td (Net cash flows provided by \(used in\) financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 518.27 Td (25,022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 518.32 Td (\(1,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 518.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 503.27 Td (Net cash flows used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 503.32 Td (\(11,963) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 503.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 503.32 Td (\(2,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 503.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 488.28 Td (Net increase \(decrease\) in cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 488.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 488.27 Td (26,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 488.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 488.32 Td (\(10,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 488.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 72.80 467.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 111.15 467.10 Td (by ) Tj ET Q q 0 0 0 rg BT 123.95 467.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 168.41 467.10 Td (during ) Tj ET Q q 0 0 0 rg BT 197.32 467.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.34 467.10 Td (year ) Tj ET Q q 0 0 0 rg BT 232.35 467.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 259.03 467.10 Td (December ) Tj ET Q q 0 0 0 rg BT 302.91 467.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 318.21 467.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.21 467.10 Td ( ) Tj ET Q q 0 0 0 rg BT 341.01 467.10 Td (was ) Tj ET Q q 0 0 0 rg BT 359.37 467.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 399.38 467.10 Td (as ) Tj ET Q q 0 0 0 rg BT 410.51 467.10 Td (a ) Tj ET Q q 0 0 0 rg BT 417.75 467.10 Td (result ) Tj ET Q q 0 0 0 rg BT 442.77 467.10 Td (of ) Tj ET Q q 0 0 0 rg BT 453.90 467.10 Td (net ) Tj ET Q q 0 0 0 rg BT 468.92 467.10 Td (income. ) Tj ET Q q 0 0 0 rg BT 503.66 467.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 526.46 467.10 Td (provided ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.10 Td (by ) Tj ET Q q 0 0 0 rg BT 62.37 455.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 102.51 455.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 140.98 455.10 Td (during ) Tj ET Q q 0 0 0 rg BT 169.46 455.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.05 455.10 Td (year ) Tj ET Q q 0 0 0 rg BT 203.63 455.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 229.88 455.10 Td (December ) Tj ET Q q 0 0 0 rg BT 273.33 455.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 288.20 455.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.20 455.10 Td ( ) Tj ET Q q 0 0 0 rg BT 310.58 455.10 Td (was ) Tj ET Q q 0 0 0 rg BT 328.50 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.09 455.10 Td (result ) Tj ET Q q 0 0 0 rg BT 367.68 455.10 Td (of ) Tj ET Q q 0 0 0 rg BT 378.38 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 392.97 455.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 421.99 455.10 Td (raise ) Tj ET Q q 0 0 0 rg BT 443.24 455.10 Td (in ) Tj ET Q q 0 0 0 rg BT 453.39 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.98 455.10 Td (second ) Tj ET Q q 0 0 0 rg BT 498.12 455.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 528.81 455.10 Td (of ) Tj ET Q q 0 0 0 rg BT 539.51 455.10 Td (2014. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 443.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 72.61 443.10 Td (used ) Tj ET Q q 0 0 0 rg BT 93.55 443.10 Td (by ) Tj ET Q q 0 0 0 rg BT 106.16 443.10 Td (investing ) Tj ET Q q 0 0 0 rg BT 145.43 443.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 184.14 443.10 Td (during ) Tj ET Q q 0 0 0 rg BT 212.86 443.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.68 443.10 Td (year ) Tj ET Q q 0 0 0 rg BT 247.50 443.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 273.98 443.10 Td (December ) Tj ET Q q 0 0 0 rg BT 317.68 443.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 332.78 443.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.78 443.10 Td ( ) Tj ET Q q 0 0 0 rg BT 355.39 443.10 Td (was ) Tj ET Q q 0 0 0 rg BT 373.55 443.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 401.71 443.10 Td (relative ) Tj ET Q q 0 0 0 rg BT 434.30 443.10 Td (to ) Tj ET Q q 0 0 0 rg BT 444.69 443.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.51 443.10 Td (year ) Tj ET Q q 0 0 0 rg BT 479.33 443.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 505.81 443.10 Td (December ) Tj ET Q q 0 0 0 rg BT 549.51 443.10 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 431.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 431.10 Td ( ) Tj ET Q q 0 0 0 rg BT 72.50 431.10 Td (due ) Tj ET Q q 0 0 0 rg BT 89.44 431.10 Td (to ) Tj ET Q q 0 0 0 rg BT 99.72 431.10 Td (an ) Tj ET Q q 0 0 0 rg BT 111.66 431.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 146.91 431.10 Td (the ) Tj ET Q q 0 0 0 rg BT 161.63 431.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 199.66 431.10 Td (of ) Tj ET Q q 0 0 0 rg BT 210.49 431.10 Td (invested ) Tj ET Q q 0 0 0 rg BT 246.32 431.10 Td (assets.) Tj ET Q endstream endobj 105 0 obj <> endobj 106 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Item8. 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.45 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 605.45 Td (e ) Tj ET Q q 0 0 0 rg BT 65.91 605.45 Td (have ) Tj ET Q q 0 0 0 rg BT 88.12 605.45 Td (audited ) Tj ET Q q 0 0 0 rg BT 120.15 605.45 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 144.59 605.45 Td (Financial ) Tj ET Q q 0 0 0 rg BT 185.13 605.45 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 227.63 605.45 Td (Inc.) Tj ET Q q 0 0 0 rg BT 245.68 605.45 Td (s ) Tj ET Q q 0 0 0 rg BT 252.90 605.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 286.77 605.45 Td (control ) Tj ET Q q 0 0 0 rg BT 318.43 605.45 Td (over ) Tj ET Q q 0 0 0 rg BT 339.53 605.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 377.84 605.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 417.83 605.45 Td (as ) Tj ET Q q 0 0 0 rg BT 429.49 605.45 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 605.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 500.57 605.45 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.57 605.45 Td (, ) Tj ET Q q 0 0 0 rg BT 526.40 605.45 Td (based ) Tj ET Q q 0 0 0 rg BT 552.50 605.45 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.45 Td (criteria ) Tj ET Q q 0 0 0 rg BT 80.57 593.45 Td (established ) Tj ET Q q 0 0 0 rg BT 127.77 593.45 Td (in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 138.31 593.45 Td (Internal ) Tj ET Q q 0 0 0 rg BT 173.28 593.45 Td (Contr) Tj ET Q q 0 0 0 rg BT 196.25 593.45 Td (ol ) Tj ET Q q 0 0 0 rg BT 206.79 593.45 Td (- ) Tj ET Q q 0 0 0 rg BT 212.88 593.45 Td (Integrated ) Tj ET Q q 0 0 0 rg BT 257.30 593.45 Td (Framework) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.96 593.45 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 306.72 593.45 Td (\(2013\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.38 593.45 Td (issued ) Tj ET Q q 0 0 0 rg BT 361.14 593.45 Td (by ) Tj ET Q q 0 0 0 rg BT 373.90 593.45 Td (the ) Tj ET Q q 0 0 0 rg BT 388.88 593.45 Td (Committee ) Tj ET Q q 0 0 0 rg BT 436.08 593.45 Td (of ) Tj ET Q q 0 0 0 rg BT 447.17 593.45 Td (Sponsoring ) Tj ET Q q 0 0 0 rg BT 495.50 593.45 Td (Or) Tj ET Q q 0 0 0 rg BT 505.87 593.45 Td (ganizations ) Tj ET Q q 0 0 0 rg BT 554.17 593.45 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.45 Td (the ) Tj ET Q q 0 0 0 rg BT 65.24 581.45 Td (T) Tj ET Q q 0 0 0 rg BT 71.00 581.45 Td (readway ) Tj ET Q q 0 0 0 rg BT 108.66 581.45 Td (Commission ) Tj ET Q q 0 0 0 rg BT 163.03 581.45 Td (\(the ) Tj ET Q q 0 0 0 rg BT 182.37 581.45 Td (COSO ) Tj ET Q q 0 0 0 rg BT 212.85 581.45 Td (criteria\). ) Tj ET Q q 0 0 0 rg BT 249.95 581.45 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 274.86 581.45 Td (Financial ) Tj ET Q q 0 0 0 rg BT 315.87 581.45 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 358.84 581.45 Td (Inc.) Tj ET Q q 0 0 0 rg BT 376.88 581.45 Td (s ) Tj ET Q q 0 0 0 rg BT 384.57 581.45 Td (management ) Tj ET Q q 0 0 0 rg BT 439.46 581.45 Td (is ) Tj ET Q q 0 0 0 rg BT 449.93 581.45 Td (responsible ) Tj ET Q q 0 0 0 rg BT 499.28 581.45 Td (for ) Tj ET Q q 0 0 0 rg BT 514.73 581.45 Td (maintaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.45 Td (ef) Tj ET Q q 0 0 0 rg BT 57.09 569.45 Td (fective ) Tj ET Q q 0 0 0 rg BT 87.67 569.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 121.59 569.45 Td (control ) Tj ET Q q 0 0 0 rg BT 153.30 569.45 Td (over ) Tj ET Q q 0 0 0 rg BT 174.45 569.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 212.81 569.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 252.84 569.45 Td (and ) Tj ET Q q 0 0 0 rg BT 270.66 569.45 Td (for ) Tj ET Q q 0 0 0 rg BT 285.70 569.45 Td (its ) Tj ET Q q 0 0 0 rg BT 298.53 569.45 Td (assessment ) Tj ET Q q 0 0 0 rg BT 346.35 569.45 Td (of ) Tj ET Q q 0 0 0 rg BT 358.06 569.45 Td (the ) Tj ET Q q 0 0 0 rg BT 373.66 569.45 Td (ef) Tj ET Q q 0 0 0 rg BT 381.25 569.45 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 429.05 569.45 Td (of ) Tj ET Q q 0 0 0 rg BT 440.76 569.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 474.68 569.45 Td (control ) Tj ET Q q 0 0 0 rg BT 506.39 569.45 Td (over ) Tj ET Q q 0 0 0 rg BT 527.54 569.45 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.45 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 92.33 557.45 Td (included ) Tj ET Q q 0 0 0 rg BT 130.43 557.45 Td (in ) Tj ET Q q 0 0 0 rg BT 141.88 557.45 Td (the ) Tj ET Q q 0 0 0 rg BT 157.77 557.45 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 219.75 557.45 Td (Item ) Tj ET Q q 0 0 0 rg BT 241.75 557.45 Td (9A, ) Tj ET Q q 0 0 0 rg BT 260.14 557.45 Td (Management) Tj ET Q q 0 0 0 rg BT 315.13 557.45 Td (s ) Tj ET Q q 0 0 0 rg BT 322.69 557.45 Td (Report ) Tj ET Q q 0 0 0 rg BT 353.58 557.45 Td (on ) Tj ET Q q 0 0 0 rg BT 367.25 557.45 Td (Internal ) Tj ET Q q 0 0 0 rg BT 402.01 557.45 Td (Control ) Tj ET Q q 0 0 0 rg BT 436.24 557.45 Td (Over ) Tj ET Q q 0 0 0 rg BT 459.91 557.45 Td (Financial ) Tj ET Q q 0 0 0 rg BT 500.79 557.45 Td (Reporting. ) Tj ET Q q 0 0 0 rg BT 546.96 557.45 Td (Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.45 Td (responsibility ) Tj ET Q q 0 0 0 rg BT 106.44 545.45 Td (is ) Tj ET Q q 0 0 0 rg BT 115.61 545.45 Td (to ) Tj ET Q q 0 0 0 rg BT 125.89 545.45 Td (express ) Tj ET Q q 0 0 0 rg BT 158.38 545.45 Td (an ) Tj ET Q q 0 0 0 rg BT 170.32 545.45 Td (opinion ) Tj ET Q q 0 0 0 rg BT 203.38 545.45 Td (on ) Tj ET Q q 0 0 0 rg BT 215.88 545.45 Td (the ) Tj ET Q q 0 0 0 rg BT 230.59 545.45 Td (company) Tj ET Q q 0 0 0 rg BT 270.03 545.45 Td (s ) Tj ET Q q 0 0 0 rg BT 276.42 545.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 309.46 545.45 Td (control ) Tj ET Q q 0 0 0 rg BT 340.29 545.45 Td (over ) Tj ET Q q 0 0 0 rg BT 360.55 545.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 398.04 545.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 437.19 545.45 Td (based ) Tj ET Q q 0 0 0 rg BT 462.46 545.45 Td (on ) Tj ET Q q 0 0 0 rg BT 474.96 545.45 Td (our ) Tj ET Q q 0 0 0 rg BT 490.79 545.45 Td (audit. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.45 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 521.45 Td (e ) Tj ET Q q 0 0 0 rg BT 65.51 521.45 Td (conducted ) Tj ET Q q 0 0 0 rg BT 109.54 521.45 Td (our ) Tj ET Q q 0 0 0 rg BT 125.80 521.45 Td (audit ) Tj ET Q q 0 0 0 rg BT 148.73 521.45 Td (in ) Tj ET Q q 0 0 0 rg BT 159.44 521.45 Td (accordance ) Tj ET Q q 0 0 0 rg BT 207.34 521.45 Td (with ) Tj ET Q q 0 0 0 rg BT 228.05 521.45 Td (the ) Tj ET Q q 0 0 0 rg BT 243.20 521.45 Td (standards ) Tj ET Q q 0 0 0 rg BT 283.90 521.45 Td (of ) Tj ET Q q 0 0 0 rg BT 295.16 521.45 Td (the ) Tj ET Q q 0 0 0 rg BT 310.31 521.45 Td (Public ) Tj ET Q q 0 0 0 rg BT 338.80 521.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 379.98 521.45 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 429.57 521.45 Td (Oversight ) Tj ET Q q 0 0 0 rg BT 471.94 521.45 Td (Board ) Tj ET Q q 0 0 0 rg BT 499.31 521.45 Td (\(United ) Tj ET Q q 0 0 0 rg BT 532.79 521.45 Td (States\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.45 Td (Those ) Tj ET Q q 0 0 0 rg BT 76.01 509.45 Td (standards ) Tj ET Q q 0 0 0 rg BT 115.85 509.45 Td (require ) Tj ET Q q 0 0 0 rg BT 146.24 509.45 Td (that ) Tj ET Q q 0 0 0 rg BT 163.30 509.45 Td (we ) Tj ET Q q 0 0 0 rg BT 177.04 509.45 Td (plan ) Tj ET Q q 0 0 0 rg BT 196.33 509.45 Td (and ) Tj ET Q q 0 0 0 rg BT 212.84 509.45 Td (perform ) Tj ET Q q 0 0 0 rg BT 247.11 509.45 Td (the ) Tj ET Q q 0 0 0 rg BT 261.40 509.45 Td (audit ) Tj ET Q q 0 0 0 rg BT 283.47 509.45 Td (to ) Tj ET Q q 0 0 0 rg BT 293.32 509.45 Td (obtain ) Tj ET Q q 0 0 0 rg BT 320.39 509.45 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 365.21 509.45 Td (assurance ) Tj ET Q q 0 0 0 rg BT 406.15 509.45 Td (about ) Tj ET Q q 0 0 0 rg BT 430.44 509.45 Td (whether ) Tj ET Q q 0 0 0 rg BT 464.72 509.45 Td (ef) Tj ET Q q 0 0 0 rg BT 472.31 509.45 Td (fective ) Tj ET Q q 0 0 0 rg BT 501.58 509.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 534.19 509.45 Td (control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.45 Td (over ) Tj ET Q q 0 0 0 rg BT 69.46 497.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 106.64 497.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 145.49 497.45 Td (was ) Tj ET Q q 0 0 0 rg BT 163.24 497.45 Td (maintained ) Tj ET Q q 0 0 0 rg BT 209.87 497.45 Td (in ) Tj ET Q q 0 0 0 rg BT 219.84 497.45 Td (all ) Tj ET Q q 0 0 0 rg BT 232.03 497.45 Td (material ) Tj ET Q q 0 0 0 rg BT 266.99 497.45 Td (respects. ) Tj ET Q q 0 0 0 rg BT 303.89 497.45 Td (Our ) Tj ET Q q 0 0 0 rg BT 321.64 497.45 Td (audit ) Tj ET Q q 0 0 0 rg BT 343.83 497.45 Td (included ) Tj ET Q q 0 0 0 rg BT 380.46 497.45 Td (obtaining ) Tj ET Q q 0 0 0 rg BT 420.43 497.45 Td (an ) Tj ET Q q 0 0 0 rg BT 432.06 497.45 Td (understanding ) Tj ET Q q 0 0 0 rg BT 490.92 497.45 Td (of ) Tj ET Q q 0 0 0 rg BT 501.44 497.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 534.18 497.45 Td (control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.45 Td (over ) Tj ET Q q 0 0 0 rg BT 70.22 485.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 108.16 485.45 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 150.26 485.45 Td (assessing ) Tj ET Q q 0 0 0 rg BT 190.44 485.45 Td (the ) Tj ET Q q 0 0 0 rg BT 205.61 485.45 Td (risk ) Tj ET Q q 0 0 0 rg BT 223.56 485.45 Td (that ) Tj ET Q q 0 0 0 rg BT 241.51 485.45 Td (a ) Tj ET Q q 0 0 0 rg BT 248.90 485.45 Td (material ) Tj ET Q q 0 0 0 rg BT 284.61 485.45 Td (weakness ) Tj ET Q q 0 0 0 rg BT 325.89 485.45 Td (exists, ) Tj ET Q q 0 0 0 rg BT 354.12 485.45 Td (and ) Tj ET Q q 0 0 0 rg BT 371.51 485.45 Td (testing ) Tj ET Q q 0 0 0 rg BT 401.13 485.45 Td (and ) Tj ET Q q 0 0 0 rg BT 418.52 485.45 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 463.12 485.45 Td (the ) Tj ET Q q 0 0 0 rg BT 478.29 485.45 Td (design ) Tj ET Q q 0 0 0 rg BT 507.35 485.45 Td (and ) Tj ET Q q 0 0 0 rg BT 524.75 485.45 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.45 Td (ef) Tj ET Q q 0 0 0 rg BT 57.09 473.45 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 105.05 473.45 Td (of ) Tj ET Q q 0 0 0 rg BT 116.91 473.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 150.99 473.45 Td (control ) Tj ET Q q 0 0 0 rg BT 182.85 473.45 Td (based ) Tj ET Q q 0 0 0 rg BT 209.15 473.45 Td (on ) Tj ET Q q 0 0 0 rg BT 222.68 473.45 Td (the ) Tj ET Q q 0 0 0 rg BT 238.43 473.45 Td (assessed ) Tj ET Q q 0 0 0 rg BT 275.85 473.45 Td (risk. ) Tj ET Q q 0 0 0 rg BT 296.88 473.45 Td (Our ) Tj ET Q q 0 0 0 rg BT 315.97 473.45 Td (audit ) Tj ET Q q 0 0 0 rg BT 339.50 473.45 Td (also ) Tj ET Q q 0 0 0 rg BT 359.14 473.45 Td (included ) Tj ET Q q 0 0 0 rg BT 397.11 473.45 Td (performing ) Tj ET Q q 0 0 0 rg BT 445.63 473.45 Td (such ) Tj ET Q q 0 0 0 rg BT 467.49 473.45 Td (other ) Tj ET Q q 0 0 0 rg BT 491.57 473.45 Td (procedures ) Tj ET Q q 0 0 0 rg BT 538.98 473.45 Td (as ) Tj ET Q q 0 0 0 rg BT 550.84 473.45 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.45 Td (considered ) Tj ET Q q 0 0 0 rg BT 95.32 461.45 Td (necessary ) Tj ET Q q 0 0 0 rg BT 136.68 461.45 Td (in ) Tj ET Q q 0 0 0 rg BT 146.96 461.45 Td (the ) Tj ET Q q 0 0 0 rg BT 161.68 461.45 Td (circumstances. ) Tj ET Q q 0 0 0 rg BT 223.14 461.45 Td (W) Tj ET Q q 0 0 0 rg BT 231.78 461.45 Td (e ) Tj ET Q q 0 0 0 rg BT 238.71 461.45 Td (believe ) Tj ET Q q 0 0 0 rg BT 270.09 461.45 Td (that ) Tj ET Q q 0 0 0 rg BT 287.58 461.45 Td (our ) Tj ET Q q 0 0 0 rg BT 303.41 461.45 Td (audit ) Tj ET Q q 0 0 0 rg BT 325.91 461.45 Td (provides ) Tj ET Q q 0 0 0 rg BT 362.84 461.45 Td (a ) Tj ET Q q 0 0 0 rg BT 369.78 461.45 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 415.04 461.45 Td (basis ) Tj ET Q q 0 0 0 rg BT 437.54 461.45 Td (for ) Tj ET Q q 0 0 0 rg BT 451.70 461.45 Td (our ) Tj ET Q q 0 0 0 rg BT 467.53 461.45 Td (opinion. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (A) Tj ET Q q 0 0 0 rg BT 56.17 437.45 Td ( ) Tj ET Q q 0 0 0 rg BT 57.86 437.45 Td (company) Tj ET Q q 0 0 0 rg BT 97.29 437.45 Td (s ) Tj ET Q q 0 0 0 rg BT 102.88 437.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 135.11 437.45 Td (control ) Tj ET Q q 0 0 0 rg BT 165.13 437.45 Td (over ) Tj ET Q q 0 0 0 rg BT 184.59 437.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 221.26 437.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 259.60 437.45 Td (is ) Tj ET Q q 0 0 0 rg BT 267.96 437.45 Td (a ) Tj ET Q q 0 0 0 rg BT 274.09 437.45 Td (process ) Tj ET Q q 0 0 0 rg BT 305.77 437.45 Td (designed ) Tj ET Q q 0 0 0 rg BT 343.01 437.45 Td (to ) Tj ET Q q 0 0 0 rg BT 352.48 437.45 Td (provide ) Tj ET Q q 0 0 0 rg BT 384.72 437.45 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 429.16 437.45 Td (assurance ) Tj ET Q q 0 0 0 rg BT 469.72 437.45 Td (regarding ) Tj ET Q q 0 0 0 rg BT 509.73 437.45 Td (the ) Tj ET Q q 0 0 0 rg BT 523.64 437.45 Td (reliability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.45 Td (of ) Tj ET Q q 0 0 0 rg BT 61.16 425.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 99.46 425.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 139.45 425.45 Td (and ) Tj ET Q q 0 0 0 rg BT 157.21 425.45 Td (the ) Tj ET Q q 0 0 0 rg BT 172.75 425.45 Td (preparation ) Tj ET Q q 0 0 0 rg BT 221.61 425.45 Td (of ) Tj ET Q q 0 0 0 rg BT 233.27 425.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 271.58 425.45 Td (statements ) Tj ET Q q 0 0 0 rg BT 317.12 425.45 Td (for ) Tj ET Q q 0 0 0 rg BT 332.10 425.45 Td (external ) Tj ET Q q 0 0 0 rg BT 367.63 425.45 Td (purposes ) Tj ET Q q 0 0 0 rg BT 406.51 425.45 Td (in ) Tj ET Q q 0 0 0 rg BT 417.61 425.45 Td (accordance ) Tj ET Q q 0 0 0 rg BT 465.90 425.45 Td (with ) Tj ET Q q 0 0 0 rg BT 487.01 425.45 Td (generally ) Tj ET Q q 0 0 0 rg BT 527.54 425.45 Td (accepted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.45 Td (accounting ) Tj ET Q q 0 0 0 rg BT 95.32 413.45 Td (principles. ) Tj ET Q q 0 0 0 rg BT 138.76 413.45 Td (A) Tj ET Q q 0 0 0 rg BT 145.43 413.45 Td ( ) Tj ET Q q 0 0 0 rg BT 147.38 413.45 Td (company) Tj ET Q q 0 0 0 rg BT 186.81 413.45 Td (s ) Tj ET Q q 0 0 0 rg BT 192.65 413.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 225.13 413.45 Td (control ) Tj ET Q q 0 0 0 rg BT 255.40 413.45 Td (over ) Tj ET Q q 0 0 0 rg BT 275.11 413.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 312.04 413.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 350.63 413.45 Td (includes ) Tj ET Q q 0 0 0 rg BT 385.90 413.45 Td (those ) Tj ET Q q 0 0 0 rg BT 408.95 413.45 Td (policies ) Tj ET Q q 0 0 0 rg BT 442.00 413.45 Td (and ) Tj ET Q q 0 0 0 rg BT 458.38 413.45 Td (procedures ) Tj ET Q q 0 0 0 rg BT 504.19 413.45 Td (that ) Tj ET Q q 0 0 0 rg BT 521.13 413.45 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 534.74 413.45 Td (pertain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.45 Td (to ) Tj ET Q q 0 0 0 rg BT 59.55 401.45 Td (the ) Tj ET Q q 0 0 0 rg BT 74.04 401.45 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 126.84 401.45 Td (of ) Tj ET Q q 0 0 0 rg BT 137.44 401.45 Td (records ) Tj ET Q q 0 0 0 rg BT 169.15 401.45 Td (that, ) Tj ET Q q 0 0 0 rg BT 188.91 401.45 Td (in ) Tj ET Q q 0 0 0 rg BT 198.97 401.45 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 243.99 401.45 Td (detail, ) Tj ET Q q 0 0 0 rg BT 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BT 322.18 389.45 Td (are ) Tj ET Q q 0 0 0 rg BT 337.29 389.45 Td (recorded ) Tj ET Q q 0 0 0 rg BT 375.17 389.45 Td (as ) Tj ET Q q 0 0 0 rg BT 386.40 389.45 Td (necessary ) Tj ET Q q 0 0 0 rg BT 428.17 389.45 Td (to ) Tj ET Q q 0 0 0 rg BT 438.85 389.45 Td (permit ) Tj ET Q q 0 0 0 rg BT 467.86 389.45 Td (preparation ) Tj ET Q q 0 0 0 rg BT 516.29 389.45 Td (of ) Tj ET Q q 0 0 0 rg BT 527.52 389.45 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.45 Td (statements ) Tj ET Q q 0 0 0 rg BT 94.64 377.45 Td (in ) Tj ET Q q 0 0 0 rg BT 105.34 377.45 Td (accordance ) Tj ET Q q 0 0 0 rg BT 153.23 377.45 Td (with ) Tj ET Q q 0 0 0 rg BT 173.94 377.45 Td (generally ) Tj ET Q q 0 0 0 rg BT 214.07 377.45 Td (accepted ) Tj ET Q q 0 0 0 rg BT 251.97 377.45 Td (accounting ) Tj ET Q q 0 0 0 rg BT 298.77 377.45 Td (principles, ) Tj ET Q q 0 0 0 rg BT 343.63 377.45 Td (and ) Tj ET Q q 0 0 0 rg BT 360.99 377.45 Td (that ) Tj ET Q q 0 0 0 rg BT 378.91 377.45 Td (receipts ) Tj ET Q q 0 0 0 rg BT 412.94 377.45 Td (and ) Tj ET Q q 0 0 0 rg BT 430.30 377.45 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 484.32 377.45 Td (of ) Tj ET Q q 0 0 0 rg BT 495.58 377.45 Td (the ) Tj ET Q q 0 0 0 rg BT 510.72 377.45 Td (company ) Tj ET Q q 0 0 0 rg BT 550.31 377.45 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.45 Td (being ) Tj ET Q q 0 0 0 rg BT 75.01 365.45 Td (made ) Tj ET Q q 0 0 0 rg BT 99.96 365.45 Td (only ) Tj ET Q q 0 0 0 rg BT 121.03 365.45 Td (in ) Tj ET Q q 0 0 0 rg BT 132.10 365.45 Td (accordance ) Tj ET Q q 0 0 0 rg BT 180.35 365.45 Td (with ) Tj ET Q q 0 0 0 rg BT 201.42 365.45 Td (authorizations ) Tj ET Q q 0 0 0 rg BT 261.37 365.45 Td (of ) Tj ET Q q 0 0 0 rg BT 272.99 365.45 Td (management ) Tj ET Q q 0 0 0 rg BT 327.37 365.45 Td (and ) Tj ET Q q 0 0 0 rg BT 345.10 365.45 Td (directors ) Tj ET Q q 0 0 0 rg BT 383.38 365.45 Td (of ) Tj ET Q q 0 0 0 rg BT 395.00 365.45 Td (the ) Tj ET Q q 0 0 0 rg BT 410.51 365.45 Td (company; ) Tj ET Q q 0 0 0 rg BT 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BT 521.34 353.45 Td (assets ) Tj ET Q q 0 0 0 rg BT 547.50 353.45 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.45 Td (could ) Tj ET Q q 0 0 0 rg BT 74.22 341.45 Td (have ) Tj ET Q q 0 0 0 rg BT 95.59 341.45 Td (a ) Tj ET Q q 0 0 0 rg BT 102.53 341.45 Td (material ) Tj ET Q q 0 0 0 rg BT 137.79 341.45 Td (ef) Tj ET Q q 0 0 0 rg BT 145.38 341.45 Td (fect ) Tj ET Q q 0 0 0 rg BT 162.86 341.45 Td (on ) Tj ET Q q 0 0 0 rg BT 175.36 341.45 Td (the ) Tj ET Q q 0 0 0 rg BT 190.08 341.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 227.56 341.45 Td (statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.45 Td (Because ) Tj ET Q q 0 0 0 rg BT 86.80 317.45 Td (of ) Tj ET Q q 0 0 0 rg BT 99.11 317.45 Td (its ) Tj ET Q q 0 0 0 rg BT 112.54 317.45 Td (inherent ) Tj ET Q q 0 0 0 rg BT 149.29 317.45 Td (limitations, ) Tj ET Q q 0 0 0 rg BT 198.55 317.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 233.08 317.45 Td (control ) Tj ET Q q 0 0 0 rg BT 265.39 317.45 Td (over ) Tj ET Q q 0 0 0 rg BT 287.14 317.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 326.10 317.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 366.74 317.45 Td (may ) Tj ET Q q 0 0 0 rg BT 387.94 317.45 Td (not ) Tj ET Q q 0 0 0 rg BT 404.70 317.45 Td (prevent ) Tj ET Q q 0 0 0 rg BT 438.67 317.45 Td (or ) Tj ET Q q 0 0 0 rg BT 450.99 317.45 Td (detect ) Tj ET Q q 0 0 0 rg BT 478.84 317.45 Td (misstatements. ) Tj ET Q q 0 0 0 rg BT 541.11 317.45 Td (Also, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.45 Td (projections ) Tj ET Q q 0 0 0 rg BT 95.87 305.45 Td (of ) Tj ET Q q 0 0 0 rg BT 106.13 305.45 Td (any ) Tj ET Q q 0 0 0 rg BT 122.50 305.45 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 166.08 305.45 Td (of ) Tj ET Q q 0 0 0 rg BT 176.35 305.45 Td (ef) Tj ET Q q 0 0 0 rg BT 183.93 305.45 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 230.29 305.45 Td (to ) Tj ET Q q 0 0 0 rg BT 240.00 305.45 Td (future ) Tj ET Q q 0 0 0 rg BT 265.81 305.45 Td (periods ) Tj ET Q q 0 0 0 rg BT 297.18 305.45 Td (are ) Tj ET Q q 0 0 0 rg BT 311.32 305.45 Td (subject ) Tj ET Q q 0 0 0 rg BT 341.58 305.45 Td (to ) Tj ET Q q 0 0 0 rg BT 351.29 305.45 Td (the ) Tj ET Q q 0 0 0 rg BT 365.44 305.45 Td (risk ) Tj ET Q q 0 0 0 rg BT 382.37 305.45 Td (that ) Tj ET Q q 0 0 0 rg BT 399.30 305.45 Td (controls ) Tj ET Q q 0 0 0 rg BT 433.45 305.45 Td (may ) Tj ET Q q 0 0 0 rg BT 452.60 305.45 Td (become ) Tj ET Q q 0 0 0 rg BT 485.63 305.45 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 530.87 305.45 Td (because ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.45 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 293.45 Td (changes ) Tj ET Q q 0 0 0 rg BT 95.04 293.45 Td (in ) Tj ET Q q 0 0 0 rg BT 105.32 293.45 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 151.98 293.45 Td (or ) Tj ET Q q 0 0 0 rg BT 162.81 293.45 Td (that ) Tj ET Q q 0 0 0 rg BT 180.31 293.45 Td (the ) Tj ET Q q 0 0 0 rg BT 195.02 293.45 Td (degree ) Tj ET Q q 0 0 0 rg BT 224.17 293.45 Td (of ) Tj ET Q q 0 0 0 rg BT 235.00 293.45 Td (compliance ) Tj ET Q q 0 0 0 rg BT 283.59 293.45 Td (with ) Tj ET Q q 0 0 0 rg BT 303.87 293.45 Td (the ) Tj ET Q q 0 0 0 rg BT 318.58 293.45 Td (policies ) Tj ET Q q 0 0 0 rg BT 352.19 293.45 Td (or ) Tj ET Q q 0 0 0 rg BT 363.02 293.45 Td (procedures ) Tj ET Q q 0 0 0 rg BT 409.38 293.45 Td (may ) Tj ET Q q 0 0 0 rg BT 429.10 293.45 Td (deteriorate. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.45 Td (In ) Tj ET Q q 0 0 0 rg BT 59.64 269.45 Td (our ) Tj ET Q q 0 0 0 rg BT 74.77 269.45 Td (opinion, ) Tj ET Q q 0 0 0 rg BT 109.23 269.45 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 132.15 269.45 Td (Financial ) Tj ET Q q 0 0 0 rg BT 171.17 269.45 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 212.14 269.45 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 229.22 269.45 Td (maintained, ) Tj ET Q q 0 0 0 rg BT 277.95 269.45 Td (in ) Tj ET Q q 0 0 0 rg BT 287.53 269.45 Td (all ) Tj ET Q q 0 0 0 rg BT 299.34 269.45 Td (material ) Tj ET Q q 0 0 0 rg BT 333.90 269.45 Td (respects, ) Tj ET Q q 0 0 0 rg BT 370.41 269.45 Td (ef) Tj ET Q q 0 0 0 rg BT 378.00 269.45 Td (fective ) Tj ET Q q 0 0 0 rg BT 407.01 269.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 439.36 269.45 Td (control ) Tj ET Q q 0 0 0 rg BT 469.49 269.45 Td (over ) Tj ET Q q 0 0 0 rg BT 489.06 269.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 525.85 269.45 Td (reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.45 Td (as ) Tj ET Q q 0 0 0 rg BT 60.33 257.45 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.16 257.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 129.74 257.45 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.74 257.45 Td (, ) Tj ET Q q 0 0 0 rg BT 154.74 257.45 Td (based ) Tj ET Q q 0 0 0 rg BT 180.01 257.45 Td (on ) Tj ET Q q 0 0 0 rg BT 192.51 257.45 Td (the ) Tj ET Q q 0 0 0 rg BT 207.23 257.45 Td (COSO ) Tj ET Q q 0 0 0 rg BT 236.40 257.45 Td (criteria) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 264.71 257.45 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.45 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 233.45 Td (e ) Tj ET Q q 0 0 0 rg BT 65.08 233.45 Td (also ) Tj ET Q q 0 0 0 rg BT 83.69 233.45 Td (have ) Tj ET Q q 0 0 0 rg BT 105.07 233.45 Td (audited, ) Tj ET Q q 0 0 0 rg BT 139.51 233.45 Td (in ) Tj ET Q q 0 0 0 rg BT 149.79 233.45 Td (accordance ) Tj ET Q q 0 0 0 rg BT 197.26 233.45 Td (with ) Tj ET Q q 0 0 0 rg BT 217.54 233.45 Td (the ) Tj ET Q q 0 0 0 rg BT 232.26 233.45 Td (standards ) Tj ET Q q 0 0 0 rg BT 272.53 233.45 Td (of ) Tj ET Q q 0 0 0 rg BT 283.37 233.45 Td (the ) Tj ET Q q 0 0 0 rg BT 298.09 233.45 Td (Public ) Tj ET Q q 0 0 0 rg BT 326.15 233.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 366.99 233.45 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 416.15 233.45 Td (Oversight ) Tj ET Q q 0 0 0 rg BT 458.09 233.45 Td (Board ) Tj ET Q q 0 0 0 rg BT 485.03 233.45 Td (\(United ) Tj ET Q q 0 0 0 rg BT 518.08 233.45 Td (States\), ) Tj ET Q q 0 0 0 rg BT 550.30 233.45 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.45 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 101.70 221.45 Td (statement ) Tj ET Q q 0 0 0 rg BT 141.69 221.45 Td (of ) Tj ET Q q 0 0 0 rg BT 151.68 221.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 188.32 221.45 Td (position ) Tj ET Q q 0 0 0 rg BT 222.21 221.45 Td (of ) Tj ET Q q 0 0 0 rg BT 231.83 221.45 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 254.60 221.45 Td (Financial ) Tj ET Q q 0 0 0 rg BT 293.48 221.45 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 334.31 221.45 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 351.24 221.45 Td (as ) Tj ET Q q 0 0 0 rg BT 361.23 221.45 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.22 221.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 428.97 221.45 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.97 221.45 Td (, ) Tj ET Q q 0 0 0 rg BT 453.13 221.45 Td (and ) Tj ET Q q 0 0 0 rg BT 469.23 221.45 Td (the ) Tj ET Q q 0 0 0 rg BT 483.11 221.45 Td (related ) Tj ET Q q 0 0 0 rg BT 511.97 221.45 Td (consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.45 Td (statements ) Tj ET Q q 0 0 0 rg BT 93.84 209.45 Td (of ) Tj ET Q q 0 0 0 rg BT 104.30 209.45 Td (income ) Tj ET Q q 0 0 0 rg BT 135.87 209.45 Td (and ) Tj ET Q q 0 0 0 rg BT 152.44 209.45 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 215.10 209.45 Td (income, ) Tj ET Q q 0 0 0 rg BT 249.17 209.45 Td (shareholders) Tj ET Q q 0 0 0 rg BT 302.29 209.45 Td ( ) Tj ET Q q 0 0 0 rg BT 304.42 209.45 Td (equity) Tj ET Q q 0 0 0 rg BT 328.77 209.45 Td (, ) Tj ET Q q 0 0 0 rg BT 333.40 209.45 Td (and ) Tj ET Q q 0 0 0 rg BT 349.97 209.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 369.87 209.45 Td (flows ) Tj ET Q q 0 0 0 rg BT 394.22 209.45 Td (for ) Tj ET Q q 0 0 0 rg BT 408.02 209.45 Td (the ) Tj ET Q q 0 0 0 rg BT 422.36 209.45 Td (year ) Tj ET Q q 0 0 0 rg BT 441.70 209.45 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.71 209.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 525.93 209.45 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.93 209.45 Td ( ) Tj ET Q q 0 0 0 rg BT 548.06 209.45 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.45 Td (our ) Tj ET Q q 0 0 0 rg BT 65.33 197.45 Td (report ) Tj ET Q q 0 0 0 rg BT 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 356.90 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 61.95 356.90 Td (BDO ) Tj ET Q q 0 0 0 rg BT 85.56 356.90 Td (USA, ) Tj ET Q q 0 0 0 rg BT 110.57 356.90 Td (LLP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 332.90 Td (Grand ) Tj ET Q q 0 0 0 rg BT 77.49 332.90 Td (Rapids, ) Tj ET Q q 0 0 0 rg BT 110.27 332.90 Td (Michigan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 320.90 Td (March 9, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.60 320.90 Td ( ) Tj ET Q endstream endobj 109 0 obj <> endobj 110 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (54) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 156.10 740.90 Td (Report of Independent Register) Tj ET Q q 0 0 0 rg BT 318.20 740.90 Td (ed Public ) Tj ET Q q 0 0 0 rg BT 368.21 740.90 Td (Accounting Firm) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 692.90 Td (The Board of Dir) Tj ET Q q 0 0 0 rg BT 123.43 692.90 Td (ectors and Shar) Tj ET Q q 0 0 0 rg BT 190.47 692.90 Td (eholders) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 680.90 Td (Atlas Financial Holdings, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 656.90 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 656.90 Td (e ) Tj ET Q q 0 0 0 rg BT 64.89 656.90 Td (have ) Tj ET Q q 0 0 0 rg BT 85.59 656.90 Td (audited ) Tj ET Q q 0 0 0 rg BT 116.84 656.90 Td (the ) Tj ET Q q 0 0 0 rg BT 130.88 656.90 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 191.00 656.90 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 243.36 656.90 Td (statement ) Tj ET Q q 0 0 0 rg BT 283.50 656.90 Td (of ) Tj ET Q q 0 0 0 rg BT 293.65 656.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 330.45 656.90 Td (position ) Tj ET Q q 0 0 0 rg BT 364.49 656.90 Td (of ) Tj ET Q q 0 0 0 rg BT 374.24 656.90 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 397.17 656.90 Td (Financial ) Tj ET Q q 0 0 0 rg BT 436.19 656.90 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 477.18 656.90 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 494.27 656.90 Td (\("the ) Tj ET Q q 0 0 0 rg BT 515.72 656.90 Td (Company"\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 644.90 Td (as ) Tj ET Q q 0 0 0 rg BT 60.61 644.90 Td (of ) Tj ET Q q 0 0 0 rg BT 71.21 644.90 Td (December ) Tj ET Q q 0 0 0 rg BT 114.57 644.90 Td (31, ) Tj ET Q q 0 0 0 rg BT 129.35 644.90 Td (2013 ) Tj ET Q q 0 0 0 rg BT 151.63 644.90 Td (and ) Tj ET Q q 0 0 0 rg BT 168.34 644.90 Td (the ) Tj ET Q q 0 0 0 rg BT 182.84 644.90 Td (related ) Tj ET Q q 0 0 0 rg BT 212.32 644.90 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 265.14 644.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 309.62 644.90 Td (of ) Tj ET Q q 0 0 0 rg BT 320.23 644.90 Td (income ) Tj ET Q q 0 0 0 rg BT 351.94 644.90 Td (and ) Tj ET Q q 0 0 0 rg BT 368.66 644.90 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 431.47 644.90 Td (income, ) Tj ET Q q 0 0 0 rg BT 465.68 644.90 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 520.29 644.90 Td (equity ) Tj ET Q q 0 0 0 rg BT 547.56 644.90 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 632.90 Td (cash ) Tj ET Q q 0 0 0 rg BT 69.96 632.90 Td (flows ) Tj ET Q q 0 0 0 rg BT 94.38 632.90 Td (for ) Tj ET Q q 0 0 0 rg BT 108.24 632.90 Td (the 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608.90 Td (are ) Tj ET Q q 0 0 0 rg BT 148.63 608.90 Td (the ) Tj ET Q q 0 0 0 rg BT 163.92 608.90 Td (responsibility ) Tj ET Q q 0 0 0 rg BT 221.43 608.90 Td (of ) Tj ET Q q 0 0 0 rg BT 232.84 608.90 Td (the ) Tj ET Q q 0 0 0 rg BT 248.13 608.90 Td (Company's ) Tj ET Q q 0 0 0 rg BT 295.78 608.90 Td (management. ) Tj ET Q q 0 0 0 rg BT 352.44 608.90 Td (Our ) Tj ET Q q 0 0 0 rg BT 371.07 608.90 Td (responsibility ) Tj ET Q q 0 0 0 rg BT 428.59 608.90 Td (is ) Tj ET Q q 0 0 0 rg BT 438.33 608.90 Td (to ) Tj ET Q q 0 0 0 rg BT 449.18 608.90 Td (express ) Tj ET Q q 0 0 0 rg BT 482.25 608.90 Td (an ) Tj ET Q q 0 0 0 rg BT 494.76 608.90 Td (opinion ) Tj ET Q q 0 0 0 rg BT 528.39 608.90 Td (on ) Tj ET Q q 0 0 0 rg BT 541.46 608.90 Td (these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 596.90 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 103.04 596.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 140.52 596.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 185.23 596.90 Td (and ) Tj ET Q q 0 0 0 rg BT 202.17 596.90 Td (schedules ) Tj ET Q q 0 0 0 rg BT 243.55 596.90 Td (based ) Tj ET Q q 0 0 0 rg BT 268.82 596.90 Td (on ) Tj ET Q q 0 0 0 rg BT 281.32 596.90 Td (our ) Tj ET Q q 0 0 0 rg BT 297.15 596.90 Td (audit.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 572.90 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 572.90 Td (e ) Tj ET Q q 0 0 0 rg BT 64.49 572.90 Td (conducted ) Tj ET Q q 0 0 0 rg BT 107.00 572.90 Td (our ) Tj ET Q q 0 0 0 rg BT 121.75 572.90 Td (audit ) Tj ET Q q 0 0 0 rg BT 143.17 572.90 Td (in ) Tj ET Q q 0 0 0 rg BT 152.36 572.90 Td (accordance ) Tj ET Q q 0 0 0 rg BT 198.74 572.90 Td (with ) Tj ET Q q 0 0 0 rg BT 217.94 572.90 Td (the ) Tj ET Q q 0 0 0 rg BT 231.57 572.90 Td (standards ) Tj ET Q q 0 0 0 rg BT 270.76 572.90 Td (of ) Tj ET Q q 0 0 0 rg BT 280.50 572.90 Td (the ) Tj ET Q q 0 0 0 rg BT 294.14 572.90 Td (Public ) Tj ET Q q 0 0 0 rg BT 321.11 572.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 361.10 572.90 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 409.18 572.90 Td (Oversight ) Tj ET Q q 0 0 0 rg BT 450.03 572.90 Td (Board ) Tj ET Q q 0 0 0 rg BT 475.89 572.90 Td (\(United ) Tj ET Q q 0 0 0 rg BT 507.85 572.90 Td (States\).Those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 560.90 Td (standards ) Tj ET Q q 0 0 0 rg BT 90.70 560.90 Td (require ) Tj ET Q q 0 0 0 rg BT 121.95 560.90 Td (that ) Tj ET Q q 0 0 0 rg BT 139.87 560.90 Td (we ) Tj ET Q q 0 0 0 rg BT 154.46 560.90 Td (plan ) Tj ET Q q 0 0 0 rg BT 174.61 560.90 Td (and ) Tj ET Q q 0 0 0 rg BT 191.98 560.90 Td (perform ) Tj ET Q q 0 0 0 rg BT 227.12 560.90 Td (the ) Tj ET Q q 0 0 0 rg BT 242.27 560.90 Td (audit ) Tj ET Q q 0 0 0 rg BT 265.19 560.90 Td (to ) Tj ET Q q 0 0 0 rg BT 275.90 560.90 Td (obtain ) Tj ET Q q 0 0 0 rg BT 303.83 560.90 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 349.51 560.90 Td (assurance ) Tj ET Q q 0 0 0 rg BT 391.31 560.90 Td (about ) Tj ET Q q 0 0 0 rg BT 416.46 560.90 Td (whether ) Tj ET Q q 0 0 0 rg BT 451.60 560.90 Td (the ) Tj ET Q q 0 0 0 rg BT 466.75 560.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 504.66 560.90 Td (statements ) Tj ET Q q 0 0 0 rg BT 549.80 560.90 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 548.90 Td (free ) Tj ET Q q 0 0 0 rg BT 67.49 548.90 Td (of ) Tj ET Q q 0 0 0 rg BT 77.77 548.90 Td (material ) Tj ET Q q 0 0 0 rg BT 112.48 548.90 Td ( ) Tj ET Q q 0 0 0 rg BT 114.42 548.90 Td (misstatement. ) Tj ET Q q 0 0 0 rg BT 171.21 548.90 Td (As ) Tj ET Q q 0 0 0 rg BT 184.28 548.90 Td (of ) Tj ET Q q 0 0 0 rg BT 194.56 548.90 Td (December ) Tj ET Q q 0 0 0 rg BT 237.59 548.90 Td (31, ) Tj ET Q q 0 0 0 rg BT 252.04 548.90 Td (2013, ) Tj ET Q q 0 0 0 rg BT 276.49 548.90 Td (the ) Tj ET Q q 0 0 0 rg BT 290.65 548.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 331.49 548.90 Td (was ) Tj ET Q q 0 0 0 rg BT 348.99 548.90 Td (not ) Tj ET Q q 0 0 0 rg BT 363.72 548.90 Td (required ) Tj ET Q q 0 0 0 rg BT 398.99 548.90 Td (to ) Tj ET Q q 0 0 0 rg BT 408.71 548.90 Td (have, ) Tj ET Q q 0 0 0 rg BT 432.04 548.90 Td (nor ) Tj ET Q q 0 0 0 rg BT 447.32 548.90 Td (were ) Tj ET Q q 0 0 0 rg BT 468.70 548.90 Td (we ) Tj ET Q q 0 0 0 rg BT 482.31 548.90 Td (engaged ) Tj ET Q q 0 0 0 rg BT 517.57 548.90 Td (to ) Tj ET Q q 0 0 0 rg BT 527.30 548.90 Td (perform, ) Tj ET 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 713.75 m 489.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 689.75 m 489.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 713.75 m 561.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 689.75 m 561.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 614.75 m 485.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 614.75 m 561.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 434.75 m 485.5 434.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 420.75 m 485.5 420.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 418.75 m 485.5 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 434.75 m 489.5 434.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 420.75 m 489.5 420.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 418.75 m 489.5 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 434.75 m 561.5 434.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 420.75 m 561.5 420.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 418.75 m 561.5 418.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 332.75 m 485.5 332.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 317.75 m 485.5 317.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 332.75 m 489.5 332.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 317.75 m 489.5 317.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 332.75 m 561.5 332.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 317.75 m 561.5 317.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 140.75 m 485.5 140.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 140.75 m 489.5 140.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 140.75 m 561.5 140.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 125.75 m 485.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 125.75 m 489.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 125.75 m 561.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 125.75 m 485.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 111.75 m 485.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 109.75 m 485.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 111.75 m 489.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 109.75 m 489.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 125.75 m 561.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 111.75 m 561.5 111.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 109.75 m 561.5 109.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 694.42 Td (\($ in '000s, except for share and per share data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.90 704.48 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.00 694.48 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.90 704.48 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.00 694.48 Td (2013) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 217.65 677.86259765625 m 244.3150390625 677.86259765625 l s q 0 0 0 rg BT 217.65 679.43 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 664.42 Td (Investments, available for sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 649.42 Td ( Fixed income securities, at fair value \(amortized cost $126,701 and $130,751\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 649.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 649.42 Td (126,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 649.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 649.42 Td (128,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 634.42 Td ( Equity securities, at fair value \(cost $2,220 and $258\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 634.42 Td (2,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 634.42 Td (258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 619.42 Td ( Other investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 619.42 Td (14,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 619.42 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 604.42 Td ( Total Investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 604.42 Td (143,408) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 604.42 Td (130,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 589.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 589.42 Td (36,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 589.42 Td (9,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 574.42 Td (Accrued investment income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 574.42 Td (660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 574.42 Td (694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 559.42 Td (Accounts receivable and other assets \(net of allowance of $560 and $776\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 559.42 Td (49,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 559.42 Td (37,944) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 544.42 Td (Reinsurance recoverables on amounts paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 544.42 Td (2,230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 544.42 Td (1,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 529.42 Td (Reinsurance recoverables on amounts unpaid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 529.42 Td (18,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 529.42 Td (18,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 514.42 Td (Prepaid reinsurance premiums) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 514.42 Td (3,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 514.42 Td (2,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 499.42 Td (Deferred policy acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 499.42 Td (8,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 499.42 Td (6,674) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 484.42 Td (Deferred tax asset, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 484.42 Td (17,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 484.42 Td (9,319) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 469.42 Td (Intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 469.42 Td (740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 469.42 Td (740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 454.42 Td (Software and office equipment, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 454.42 Td (2,819) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 454.42 Td (2,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 439.42 Td (Assets held for sale) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 439.42 Td (166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 439.42 Td (166) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 424.43 Td ( Total Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 424.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 424.42 Td (283,911) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 424.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 424.42 Td (219,278) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 209.6 395.86259765625 m 252.383203125 395.86259765625 l s q 0 0 0 rg BT 209.60 397.43 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 382.42 Td (Claims liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 382.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 382.42 Td (102,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 382.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 382.42 Td (101,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 367.42 Td (Unearned premiums) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 367.42 Td (58,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 367.42 Td (44,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 352.42 Td (Due to reinsurers and other insurers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 352.42 Td (2,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 352.42 Td (2,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 337.42 Td (Other liabilities and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 337.42 Td (10,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 337.42 Td (7,350) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 322.43 Td ( Total Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 322.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 322.42 Td (174,512) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 322.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 322.42 Td (155,580) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 185.75 293.86259765625 m 276.228515625 293.86259765625 l s q 0 0 0 rg BT 185.75 295.43 Td (Shareholders Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 280.42 Td (Preferred shares, par value per share $0.001, 100,000,000 shares authorized, 2,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 270.42 Td (shares issued and outstanding at December 31, 2014 and December 31, 2013.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 260.42 Td (Liquidation value $1.00 per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 260.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 260.42 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 260.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 260.42 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 245.42 Td (Ordinary voting common shares, par value per share $0.003, 266,666,667 shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 235.42 Td (authorized, 11,638,723 shares issued and outstanding at December 31, 2014 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 225.42 Td (9,291,871 shares issued and outstanding at December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 225.42 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 225.42 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 210.42 Td (Restricted voting common shares, par value per share $0.003, 33,333,334 shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 200.42 Td (authorized, 132,863 shares issued and outstanding at December 31, 2014 and December) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 190.42 Td (31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 190.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 190.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 175.42 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 175.42 Td (196,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 175.42 Td (169,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 160.42 Td (Retained deficit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.80 160.47 Td (\(88,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 160.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 160.47 Td (\(106,496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 160.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 145.42 Td (Accumulated other comprehensive income \(loss\), net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 145.42 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 145.47 Td (\(1,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 145.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 130.43 Td ( Total Shareholders Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 130.42 Td (109,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 130.42 Td (63,698) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 115.43 Td ( Total Liabilities and Shareholders Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 115.42 Td (283,911) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.00 115.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 115.42 Td (219,278) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.35 87.25 Td (See accompanying Notes to Consolidated Financial Statements.) Tj ET Q endstream endobj 113 0 obj <> endobj 114 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.25 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 225.73 730.25 Td (TLAS FINANCIAL) Tj ET Q q 0 0 0 rg BT 310.47 730.25 Td ( HOLDINGS, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.60 715.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 180.42 715.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 214.97 715.25 Td (A) Tj ET Q q 0 0 0 rg BT 221.45 715.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 286.37 715.25 Td ( INCOME ) Tj ET Q q 0 0 0 rg BT 333.04 715.25 Td (AND COMPREHENSIVE INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.50 700.25 Td (\($ in '000s, except for share and per share data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.45 700.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 689.75 347.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 689.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 689.75 6.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 689.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 661.75 347.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 661.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 661.75 6.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 661.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 632.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 632.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 632.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 632.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 602.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 602.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 602.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 602.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 572.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 572.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 572.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 572.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 542.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 542.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 542.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 542.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 512.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 512.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 512.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 512.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 482.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 482.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 482.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 482.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 452.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 452.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 452.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 452.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 422.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 422.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 422.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 422.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 395.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 395.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 395.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 395.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 365.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 365.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 365.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 365.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 335.75 347.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 335.75 67.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 335.75 6.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 335.75 67.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 309.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 309.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 309.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 309.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 279.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 279.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 279.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 279.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 249.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 249.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 249.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 249.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 219.75 347.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 219.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 219.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 219.75 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 62.00 189.75 347.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 189.75 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 189.75 6.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 189.75 67.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 675.75 m 476 675.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 675.75 m 482 675.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 675.75 m 549 675.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 661.75 m 476 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 661.75 m 482 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 661.75 m 549 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 647.75 m 476 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 647.75 m 482 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 647.75 m 549 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 647.75 m 476 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 647.75 m 482 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 647.75 m 549 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 587.75 m 476 587.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 587.75 m 482 587.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 587.75 m 549 587.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 512.75 m 476 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 512.75 m 482 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 512.75 m 549 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 512.75 m 476 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 497.75 m 476 497.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 512.75 m 482 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 497.75 m 482 497.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 512.75 m 549 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 497.75 m 549 497.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 497.75 m 482 497.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 497.75 m 549 497.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 467.75 m 476 467.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 467.75 m 482 467.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 467.75 m 549 467.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 467.75 m 476 467.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 467.75 m 482 467.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 467.75 m 549 467.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 422.75 m 476 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 422.75 m 549 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 422.75 m 476 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 407.75 m 476 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 422.75 m 482 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 407.75 m 482 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 422.75 m 549 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 407.75 m 549 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 219.75 m 476 219.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 219.75 m 482 219.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 219.75 m 549 219.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 219.75 m 549 219.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 204.75 m 476 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 190.75 m 476 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 188.75 m 476 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 204.75 m 482 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 190.75 m 482 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476 188.75 m 482 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 204.75 m 549 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 190.75 m 549 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482 188.75 m 549 188.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 680.43 Td (Consolidated Statements of Income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.10 666.43 Td (Year Ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.00 652.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.00 652.43 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 637.42 Td (Net premiums earned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 637.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 637.42 Td (98,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.50 637.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 637.42 Td (71,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 622.42 Td (Net investment income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 622.42 Td (3,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.65 622.42 Td (2,141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 607.42 Td (Net investment gains) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 607.42 Td (382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 607.42 Td (529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 592.42 Td (Other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 592.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 592.42 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 577.43 Td (Total revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 577.42 Td (101,618) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 577.42 Td (74,027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 562.42 Td (Net claims incurred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 562.42 Td (61,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 562.42 Td (45,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 547.42 Td (Acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 547.42 Td (14,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 547.42 Td (10,373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 532.42 Td (Other underwriting expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 532.42 Td (13,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 532.42 Td (11,384) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 517.42 Td (Expenses incurred related to acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 517.42 Td (694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 517.42 Td (406) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 502.43 Td (Total expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 502.42 Td (89,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 502.42 Td (67,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 487.42 Td (Income from operations before income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 487.42 Td (11,935) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.65 487.42 Td (6,252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 472.42 Td (Income tax \(benefit\) expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 472.47 Td (\(5,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 472.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 472.42 Td (72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 457.42 Td (Net income attributable to Atlas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 457.42 Td (17,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.65 457.42 Td (6,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 442.42 Td (Add: Discount realized on preferred share buyback) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 442.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.65 442.42 Td (1,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 427.42 Td (Less: Preferred share dividends) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 427.42 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 427.42 Td (619) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 412.42 Td (Net income attributable to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 412.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 412.42 Td (17,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.50 412.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.65 412.42 Td (7,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 385.42 Td (Basic weighted average common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.50 385.42 Td (10,937,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 385.42 Td (8,007,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 370.42 Td (Earnings per common share, basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 370.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 370.42 Td (1.61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.50 370.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 370.42 Td (0.92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 355.42 Td (Diluted weighted average common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.50 355.42 Td (11,341,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 355.42 Td (10,840,868) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 340.42 Td (Earnings per common share, diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 340.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 340.42 Td (1.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.50 340.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 340.42 Td (0.74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 314.43 Td (Consolidated Statements of Comprehensive Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 284.42 Td (Net income attributable to Atlas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 284.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 284.42 Td (17,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.50 284.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.65 284.42 Td (6,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 269.42 Td (Other comprehensive income \(loss\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 254.42 Td (Changes in net unrealized gains \(losses\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 254.42 Td (2,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.30 254.47 Td (\(4,354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 254.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 239.42 Td (Reclassification to income of net realized gains \(losses\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 239.42 Td (257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 239.47 Td (\(469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 239.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 224.42 Td (Effect of income tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 224.47 Td (\(777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 224.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.65 224.42 Td (1,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 209.42 Td (Other comprehensive income \(loss\) for the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 209.42 Td (1,509) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.30 209.47 Td (\(3,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 209.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 194.42 Td (Total comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 194.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.65 194.42 Td (19,211) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.50 194.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.65 194.42 Td (2,999) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.35 152.25 Td (See accompanying Notes to Consolidated Financial Statements.) Tj ET Q endstream endobj 115 0 obj <> endobj 116 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.25 728.30 Td (A) Tj ET Q q 0 0 0 rg BT 225.73 728.30 Td (TLAS FINANCIAL) Tj ET Q q 0 0 0 rg BT 310.47 728.30 Td ( HOLDINGS, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 158.10 711.50 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 217.92 711.50 Td (TED ST) Tj ET Q q 0 0 0 rg BT 252.47 711.50 Td (A) Tj ET Q q 0 0 0 rg BT 258.95 711.50 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 323.87 711.50 Td ( SHAREHOLDERS) Tj ET Q q 0 0 0 rg BT 412.31 711.50 Td ( EQUITY) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 698.00 102.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 698.00 55.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 698.00 4.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 698.00 54.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 698.00 4.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 698.00 55.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 698.00 4.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 698.00 55.00 -40.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 698.00 4.00 -40.00 re f 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441.5 634 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 634 m 445.5 634 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 634 m 513.5 634 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 634 m 517.5 634 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 634 m 562.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 634 m 152.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 634 m 207.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 634 m 211.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 634 m 265.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 634 m 269.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 634 m 324.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 634 m 328.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 634 m 383.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.5 634 m 387.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 634 m 441.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 634 m 445.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 634 m 513.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 634 m 517.5 634 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 634 m 562.5 634 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 472 m 152.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 472 m 207.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 472 m 211.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 472 m 265.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 472 m 269.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 472 m 324.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 472 m 328.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 472 m 383.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.5 472 m 387.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 472 m 441.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 472 m 445.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 472 m 513.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 472 m 517.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 472 m 562.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 472 m 152.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 448 m 152.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 472 m 207.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 448 m 207.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 472 m 211.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 448 m 211.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 472 m 265.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 448 m 265.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 472 m 269.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 448 m 269.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 472 m 324.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 448 m 324.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 472 m 328.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 448 m 328.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 472 m 383.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 448 m 383.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.5 472 m 387.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.5 448 m 387.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 472 m 441.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 448 m 441.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 472 m 445.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 448 m 445.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 472 m 513.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 448 m 513.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 472 m 517.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 448 m 517.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 472 m 562.5 472 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 448 m 562.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 448 m 152.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 448 m 207.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 448 m 211.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 448 m 265.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 448 m 269.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 448 m 324.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 448 m 328.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 448 m 383.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.5 448 m 387.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 448 m 441.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 448 m 445.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 448 m 513.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 448 m 517.5 448 l s 0 0 0.0392156862745098 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 448 m 562.5 448 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 386 m 152.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 362 m 152.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 386 m 207.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 362 m 207.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 386 m 211.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 362 m 211.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 386 m 265.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 362 m 265.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 386 m 269.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 362 m 269.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 386 m 324.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 362 m 324.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 386 m 328.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 362 m 328.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 386 m 383.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 362 m 383.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.5 386 m 387.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.5 362 m 387.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 386 m 441.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 362 m 441.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 386 m 445.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 362 m 445.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 386 m 513.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 362 m 513.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 386 m 517.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 362 m 517.5 362 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 386 m 562.5 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 362 m 562.5 362 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 662.46 Td (\(in '000s\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 160.90 671.45 Td (Preferred) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 166.55 662.45 Td (Shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 219.70 680.45 Td (Ordinary) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 220.25 671.45 Td (Common) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 225.05 662.45 Td (Shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 276.75 680.45 Td (Restricted) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.75 671.45 Td (Common) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 283.55 662.45 Td (Shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 334.95 680.45 Td (Additional) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.45 671.45 Td (Paid-in) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 341.20 662.45 Td (Capital) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 396.75 671.45 Td (Retained) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 401.25 662.45 Td (Deficit) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 453.50 689.40 Td (Accumulated) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 467.55 680.40 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 449.05 671.40 Td (Comprehensive) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 451.85 662.40 Td (Income \(Loss\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 529.65 662.45 Td (Total) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 638.23 Td (Balance December 31, 2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 638.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.15 638.67 Td (18,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 638.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.65 638.67 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 638.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.65 638.67 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.00 638.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.15 638.67 Td (152,768) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.00 638.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.80 638.72 Td (\(112,675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 638.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 638.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 638.67 Td (1,753) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 638.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 638.67 Td (59,864) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 624.23 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 624.57 Td (6,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 624.57 Td (6,180) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 612.08 Td (Proceeds from U.S. initial) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 604.08 Td (public offering, net of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 596.08 Td (offering costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.65 596.67 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.30 596.72 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 596.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 596.67 Td (9,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 596.67 Td (9,756) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 584.08 Td (Issuance of preferred) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 576.08 Td (shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.15 576.67 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 576.67 Td (2,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 562.23 Td (Warrants exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.65 562.57 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 562.57 Td (7,176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 562.57 Td (7,181) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 548.23 Td (Other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.80 548.62 Td (\(3,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.65 548.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 548.62 Td (\(3,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 548.57 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 532.23 Td (Repurchase of preferred) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 524.23 Td (shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.80 524.67 Td (\(18,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.65 524.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 524.67 Td (1,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 524.72 Td (\(16,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 524.67 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 510.23 Td (Share-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.65 510.57 Td (247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 510.57 Td (247) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 498.08 Td (Preferred dividends) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 490.08 Td (declared and paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.80 490.72 Td (\(2,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.65 490.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 490.72 Td (\(2,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 490.67 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 476.23 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.65 476.57 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.30 476.62 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.65 476.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.30 476.62 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.65 476.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.30 476.62 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 476.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.30 476.62 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.65 476.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 476.62 Td (\(4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 476.57 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 452.23 Td (Balance December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.00 452.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.15 452.67 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 452.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.65 452.67 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 452.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.65 452.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.00 452.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.15 452.67 Td (169,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.00 452.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.80 452.72 Td (\(106,496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 452.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 452.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.80 452.72 Td (\(1,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.65 452.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 452.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 452.67 Td (63,698) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 438.23 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 438.57 Td (17,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 438.57 Td (17,702) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 424.23 Td (Issuance of common shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.65 424.57 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.15 424.57 Td (25,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 424.57 Td (25,021) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 412.08 Td (Other 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366.67 Td (196,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.00 366.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.80 366.72 Td (\(88,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 366.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 366.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 366.67 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 366.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.10 366.67 Td (109,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.35 337.57 Td (See accompanying Notes to Consolidated Financial Statements.) 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557.65 579.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 567.57 Td (\(Gain\) loss in equity of investee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 567.57 Td (\(632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 567.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 567.57 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 555.57 Td (Amortization of bond premiums and discounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 555.57 Td (756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 555.57 Td (1,092) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 543.68 Td (Net changes in operating assets and liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 531.57 Td (Accounts receivable and other assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 531.57 Td (\(11,826) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 531.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 531.57 Td (\(7,490) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 531.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 519.57 Td (Due from reinsurers and other insurers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 519.57 Td (\(2,925) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 519.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 519.57 Td (\(6,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 519.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 507.57 Td (Deferred policy acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 507.57 Td (\(1,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 507.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 507.57 Td (\(1,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 507.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 495.57 Td (Other assets and accrued investment income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 495.57 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.30 495.57 Td (\(14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 495.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 483.57 Td (Claims liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 483.57 Td (1,045) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 483.57 Td (\(4,891) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 483.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 471.57 Td (Unearned premiums) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 471.57 Td (14,718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 471.57 Td (9,174) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 459.57 Td (Due to reinsurers and other insurers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.30 459.57 Td (\(157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 459.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 459.57 Td (\(1,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 459.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 447.57 Td (Accounts payable and accrued liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 447.57 Td (3,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 447.57 Td (531) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 435.68 Td (Net cash flows provided by \(used in\) operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 435.57 Td (13,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 435.57 Td (\(5,920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 435.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 416.68 Td (Investing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 404.57 Td (Purchase of Gateway \(net of cash acquired\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 404.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 404.57 Td (11,081) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 392.57 Td (Purchases of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 380.57 Td (Fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 380.57 Td (\(31,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 380.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 380.57 Td (\(69,328) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 380.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 368.57 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 368.57 Td (\(1,969) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 368.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 368.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 356.57 Td (Other investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 356.57 Td (\(12,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 356.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 356.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 344.57 Td (Property, equipment and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 344.57 Td (\(1,177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 344.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 344.57 Td (\(1,245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 344.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 332.57 Td (Proceeds from sale and maturity of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 320.57 Td (Fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 320.57 Td (35,332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 320.57 Td (55,328) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 308.57 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 308.57 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 308.57 Td (1,388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 296.57 Td (Property, equipment and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 296.57 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 296.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 284.68 Td (Net cash flows used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 284.57 Td (\(11,963) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 284.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 284.57 Td (\(2,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 284.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 266.68 Td (Financing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 254.57 Td (Preferred share buyback) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 254.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 254.57 Td (\(16,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 254.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 242.57 Td (Proceeds from initial public offering, net of offering costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 242.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 242.57 Td (9,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 230.57 Td (Issuance of common shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 230.57 Td (25,021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 230.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 218.57 Td (Warrants exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 218.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 218.57 Td (7,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 206.57 Td (Dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 206.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 206.57 Td (\(2,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 206.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 194.57 Td (Options exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 194.57 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 194.57 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 182.68 Td (Net cash flows provided by financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 182.57 Td (25,022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 182.57 Td (\(1,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 182.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 165.57 Td (Net change in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 165.57 Td (26,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 165.57 Td (\(10,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 165.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 148.57 Td (Cash and cash equivalents, beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 148.57 Td (9,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 148.57 Td (19,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 136.57 Td (Cash and cash equivalents, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 136.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 136.57 Td (36,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 136.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 136.57 Td (9,811) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 123.95 382.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 123.95 130.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 101.95 382.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 101.95 61.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 101.95 6.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 101.95 63.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 79.95 382.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 79.95 61.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 79.95 6.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 79.95 63.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 63.95 512.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 123.95000000000005 m 492.5 123.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 123.95000000000005 m 498.5 123.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 123.95000000000005 m 561.5 123.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 112.95000000000005 m 492.5 112.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 101.95000000000005 m 492.5 101.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 112.95000000000005 m 498.5 112.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 101.95000000000005 m 498.5 101.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 112.95000000000005 m 561.5 112.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 101.95000000000005 m 561.5 101.95000000000005 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 114.73 Td (Supplemental disclosure of cash information \(in '000's\):) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.60 114.73 Td (Year Ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.50 103.73 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.50 103.73 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 92.57 Td (Cash paid for:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 81.57 Td (Income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 81.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 81.57 Td (3,308) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 81.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 81.57 Td (1,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 70.57 Td (Interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 70.57 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 70.57 Td (129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.35 54.57 Td (See accompanying Notes to Consolidated Financial Statements.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 119 0 obj <> endobj 120 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (59) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 227.90 731.30 Td (A) Tj ET Q q 0 0 0 rg BT 233.73 731.30 Td (TLAS FINANCIAL) Tj ET Q q 0 0 0 rg BT 310.00 731.30 Td ( HOLDINGS, INC.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 188.35 720.50 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 220.95 720.50 Td (T) Tj ET Q q 0 0 0 rg BT 226.79 720.50 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 289.88 720.50 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 361.14 720.50 Td ( ST) Tj ET Q q 0 0 0 rg BT 373.73 720.50 Td (A) Tj ET Q q 0 0 0 rg BT 379.56 720.50 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 696.50 Td (1. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 696.50 Td (NA) Tj ET Q q 0 0 0 rg BT 99.70 696.50 Td (TURE ) Tj ET Q q 0 0 0 rg BT 129.98 696.50 Td (OF) Tj ET Q q 0 0 0 rg BT 143.50 696.50 Td ( ) Tj ET Q q 0 0 0 rg BT 146.00 696.50 Td (OPERA) Tj ET Q q 0 0 0 rg BT 180.26 696.50 Td (TIONS ) Tj ET Q q 0 0 0 rg BT 213.33 696.50 Td (AND ) Tj ET Q q 0 0 0 rg BT 237.49 696.50 Td (BASIS ) Tj ET Q q 0 0 0 rg BT 268.90 696.50 Td (OF) Tj ET Q q 0 0 0 rg BT 282.42 696.50 Td ( ) Tj ET Q q 0 0 0 rg BT 284.92 696.50 Td (PRESENT) Tj ET Q q 0 0 0 rg BT 330.30 696.50 Td (A) Tj ET Q q 0 0 0 rg BT 336.78 696.50 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 679.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.53 679.50 Td (Financial ) Tj ET Q q 0 0 0 rg BT 113.16 679.50 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 154.76 679.50 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 172.45 679.50 Td (\("Atlas" ) Tj ET Q q 0 0 0 rg BT 207.47 679.50 Td (or ) Tj ET Q q 0 0 0 rg BT 218.22 679.50 Td (the ) Tj ET Q q 0 0 0 rg BT 232.86 679.50 Td ("Company"\) ) Tj ET Q q 0 0 0 rg BT 285.66 679.50 Td (commenced ) Tj ET Q q 0 0 0 rg BT 336.40 679.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 380.47 679.50 Td (on ) Tj ET Q q 0 0 0 rg BT 392.90 679.50 Td (December ) Tj ET Q q 0 0 0 rg BT 436.40 679.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 451.32 679.50 Td (2010. ) Tj ET Q q 0 0 0 rg BT 476.07 679.50 Td (The ) Tj ET Q q 0 0 0 rg BT 494.04 679.50 Td (primary ) Tj ET Q q 0 0 0 rg BT 528.12 679.50 Td (business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 667.50 Td (of ) Tj ET Q q 0 0 0 rg BT 60.78 667.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 85.04 667.50 Td (is ) Tj ET Q q 0 0 0 rg BT 94.85 667.50 Td ( ) Tj ET Q q 0 0 0 rg BT 98.00 667.50 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 152.80 667.50 Td (commercial ) Tj ET Q q 0 0 0 rg BT 203.14 667.50 Td (automobile ) Tj ET Q q 0 0 0 rg BT 251.28 667.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 292.74 667.50 Td (in ) Tj ET Q q 0 0 0 rg BT 303.66 667.50 Td (the ) Tj ET Q q 0 0 0 rg BT 319.03 667.50 Td (United ) Tj ET Q q 0 0 0 rg BT 349.39 667.50 Td (States, ) Tj ET Q q 0 0 0 rg BT 378.92 667.50 Td (with ) Tj ET Q q 0 0 0 rg BT 399.85 667.50 Td (a ) Tj ET Q q 0 0 0 rg BT 407.43 667.50 Td (niche ) Tj ET Q q 0 0 0 rg BT 432.23 667.50 Td (market ) Tj ET Q q 0 0 0 rg BT 463.14 667.50 Td (orientation ) Tj ET Q q 0 0 0 rg BT 509.61 667.50 Td (and ) Tj ET Q q 0 0 0 rg BT 527.19 667.50 Td (focus ) Tj ET Q q 0 0 0 rg BT 552.00 667.50 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 655.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 91.40 655.50 Td (for ) Tj ET Q q 0 0 0 rg BT 106.14 655.50 Td (the ) Tj ET Q q 0 0 0 rg BT 121.43 655.50 Td (light ) Tj ET Q q 0 0 0 rg BT 151.72 655.50 Td (commercial ) Tj ET Q q 0 0 0 rg BT 202.00 655.50 Td (automobile ) Tj ET Q q 0 0 0 rg BT 250.07 655.50 Td (sector) Tj ET Q q 0 0 0 rg BT 273.40 655.50 Td (.) Tj ET Q q 0 0 0 rg BT 278.22 655.50 Td (This ) Tj ET Q q 0 0 0 rg BT 299.08 655.50 Td (sector ) Tj ET Q q 0 0 0 rg BT 326.03 655.50 Td (includes ) Tj ET Q q 0 0 0 rg BT 362.44 655.50 Td (taxi ) Tj ET Q q 0 0 0 rg BT 380.51 655.50 Td (cabs, ) Tj ET Q q 0 0 0 rg BT 403.86 655.50 Td (non-emer) Tj ET Q q 0 0 0 rg BT 442.00 655.50 Td (gency ) Tj ET Q q 0 0 0 rg BT 468.95 655.50 Td (para-transit, ) Tj ET Q q 0 0 0 rg BT 520.07 655.50 Td (limousine, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 643.50 Td (livery ) Tj ET Q q 0 0 0 rg BT 76.53 643.50 Td (and ) Tj ET Q q 0 0 0 rg BT 94.18 643.50 Td (business ) Tj ET Q q 0 0 0 rg BT 131.28 643.50 Td (autos. ) Tj ET Q q 0 0 0 rg BT 158.09 643.50 Td ( ) Tj ET Q q 0 0 0 rg BT 160.59 643.50 Td (Automobile ) Tj ET Q q 0 0 0 rg BT 211.57 643.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 253.09 643.50 Td (products ) Tj ET Q q 0 0 0 rg BT 290.74 643.50 Td (provide ) Tj ET Q q 0 0 0 rg BT 324.49 643.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 366.02 643.50 Td (coverage ) Tj ET Q q 0 0 0 rg BT 405.31 643.50 Td (in ) Tj ET Q q 0 0 0 rg BT 416.29 643.50 Td (three ) Tj ET Q q 0 0 0 rg BT 439.48 643.50 Td (major ) Tj ET Q q 0 0 0 rg BT 466.02 643.50 Td (areas: ) Tj ET Q q 0 0 0 rg BT 492.54 643.50 Td (liability) Tj ET Q q 0 0 0 rg BT 523.00 643.50 Td (, ) Tj ET Q q 0 0 0 rg BT 528.71 643.50 Td (accident ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.50 Td (benefits ) Tj ET Q q 0 0 0 rg BT 84.22 631.50 Td (and ) Tj ET Q q 0 0 0 rg BT 101.22 631.50 Td (physical ) Tj ET Q q 0 0 0 rg BT 137.10 631.50 Td (damage. ) Tj ET Q q 0 0 0 rg BT 173.26 631.50 Td (Liability ) Tj ET Q q 0 0 0 rg BT 210.26 631.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 251.13 631.50 Td (provides ) Tj ET Q q 0 0 0 rg BT 288.13 631.50 Td (coverage ) Tj ET Q q 0 0 0 rg BT 326.78 631.50 Td (subject ) Tj ET Q q 0 0 0 rg BT 357.66 631.50 Td (to ) Tj ET Q q 0 0 0 rg BT 368.00 631.50 Td (policy ) Tj ET Q q 0 0 0 rg BT 395.56 631.50 Td (terms ) Tj ET Q q 0 0 0 rg BT 420.34 631.50 Td (and ) Tj ET Q q 0 0 0 rg BT 437.34 631.50 Td (conditions ) Tj ET Q q 0 0 0 rg BT 481.56 631.50 Td (where ) Tj ET Q q 0 0 0 rg BT 508.55 631.50 Td (the ) Tj ET Q q 0 0 0 rg BT 523.33 631.50 Td (insured ) Tj ET Q q 0 0 0 rg BT 555.33 631.50 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 619.50 Td (determined ) Tj ET Q q 0 0 0 rg BT 97.54 619.50 Td (to ) Tj ET Q q 0 0 0 rg BT 107.87 619.50 Td (be ) Tj ET Q q 0 0 0 rg BT 119.87 619.50 Td (responsible ) Tj ET Q q 0 0 0 rg BT 167.97 619.50 Td (and/or ) Tj ET Q q 0 0 0 rg BT 196.07 619.50 Td (liable ) Tj ET Q q 0 0 0 rg BT 220.84 619.50 Td (for ) Tj ET Q q 0 0 0 rg BT 235.06 619.50 Td (an ) Tj ET Q q 0 0 0 rg BT 247.05 619.50 Td (automobile ) Tj ET Q q 0 0 0 rg BT 294.60 619.50 Td (accident, ) Tj ET Q q 0 0 0 rg BT 332.96 619.50 Td (for ) Tj ET Q q 0 0 0 rg BT 347.18 619.50 Td (the ) Tj ET Q q 0 0 0 rg BT 361.95 619.50 Td (payment ) Tj ET Q q 0 0 0 rg BT 398.94 619.50 Td (for ) Tj ET Q q 0 0 0 rg BT 413.16 619.50 Td (injuries ) Tj ET Q q 0 0 0 rg BT 445.71 619.50 Td (and ) Tj ET Q q 0 0 0 rg BT 462.71 619.50 Td (property ) Tj ET Q q 0 0 0 rg BT 499.14 619.50 Td (damage ) Tj ET Q q 0 0 0 rg BT 532.79 619.50 Td (to ) Tj ET Q q 0 0 0 rg BT 543.12 619.50 Td (third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.50 Td (parties. ) Tj ET Q q 0 0 0 rg BT 82.61 607.50 Td (Accident ) Tj ET Q q 0 0 0 rg BT 123.14 607.50 Td (benefit ) Tj ET Q q 0 0 0 rg BT 155.33 607.50 Td (policies ) Tj ET Q q 0 0 0 rg BT 190.87 607.50 Td (or ) Tj ET Q q 0 0 0 rg BT 203.63 607.50 Td (personal ) Tj ET Q q 0 0 0 rg BT 241.94 607.50 Td (injury ) Tj ET Q q 0 0 0 rg BT 270.26 607.50 Td (protection ) Tj ET Q q 0 0 0 rg BT 315.23 607.50 Td (policies ) Tj ET Q q 0 0 0 rg BT 350.77 607.50 Td (provide ) Tj ET Q q 0 0 0 rg BT 385.75 607.50 Td (coverage ) Tj ET Q q 0 0 0 rg BT 426.26 607.50 Td (for ) Tj ET Q q 0 0 0 rg BT 442.35 607.50 Td (loss ) Tj ET Q q 0 0 0 rg BT 462.35 607.50 Td (of ) Tj ET Q q 0 0 0 rg BT 475.11 607.50 Td (income, ) Tj ET Q q 0 0 0 rg BT 511.48 607.50 Td (medical ) Tj ET Q q 0 0 0 rg BT 547.56 607.50 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 595.50 Td (rehabilitation ) Tj ET Q q 0 0 0 rg BT 104.75 595.50 Td (expenses ) Tj ET Q q 0 0 0 rg BT 142.29 595.50 Td (for ) Tj ET Q q 0 0 0 rg BT 155.38 595.50 Td (insured ) Tj ET Q q 0 0 0 rg BT 186.25 595.50 Td (persons ) Tj ET Q q 0 0 0 rg BT 218.24 595.50 Td (who ) Tj ET Q q 0 0 0 rg BT 236.90 595.50 Td (are ) Tj ET Q q 0 0 0 rg BT 250.54 595.50 Td (injured ) Tj ET Q q 0 0 0 rg BT 280.30 595.50 Td (in ) Tj ET Q q 0 0 0 rg BT 289.52 595.50 Td (an ) Tj ET Q q 0 0 0 rg BT 300.39 595.50 Td (automobile ) Tj ET Q q 0 0 0 rg BT 346.82 595.50 Td (accident, ) Tj ET Q q 0 0 0 rg BT 384.06 595.50 Td (regardless ) Tj ET Q q 0 0 0 rg BT 426.04 595.50 Td (of ) Tj ET Q q 0 0 0 rg BT 435.80 595.50 Td (fault. ) Tj ET Q q 0 0 0 rg BT 458.06 595.50 Td (Physical ) Tj ET Q q 0 0 0 rg BT 493.38 595.50 Td (damage ) Tj ET Q q 0 0 0 rg BT 525.91 595.50 Td (coverage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 583.50 Td (subject ) Tj ET Q q 0 0 0 rg BT 80.40 583.50 Td (to ) Tj ET Q q 0 0 0 rg BT 90.26 583.50 Td (policy ) Tj ET Q q 0 0 0 rg BT 117.33 583.50 Td (terms ) Tj ET Q q 0 0 0 rg BT 141.63 583.50 Td (and ) Tj ET Q q 0 0 0 rg BT 158.14 583.50 Td (conditions ) Tj ET Q q 0 0 0 rg BT 201.88 583.50 Td (provides ) Tj ET Q q 0 0 0 rg BT 238.40 583.50 Td (for ) Tj ET Q q 0 0 0 rg BT 252.14 583.50 Td (the ) Tj ET Q q 0 0 0 rg BT 266.43 583.50 Td (payment ) Tj ET Q q 0 0 0 rg BT 302.94 583.50 Td (of ) Tj ET Q q 0 0 0 rg BT 313.35 583.50 Td (damages ) Tj ET Q q 0 0 0 rg BT 350.42 583.50 Td (to ) Tj ET Q q 0 0 0 rg BT 360.27 583.50 Td (an ) Tj ET Q q 0 0 0 rg BT 371.79 583.50 Td (insured ) Tj ET Q q 0 0 0 rg BT 403.30 583.50 Td (automobile ) Tj ET Q q 0 0 0 rg BT 450.37 583.50 Td (arising ) Tj ET Q q 0 0 0 rg BT 479.67 583.50 Td (from ) Tj ET Q q 0 0 0 rg BT 501.18 583.50 Td (a ) Tj ET Q q 0 0 0 rg BT 507.70 583.50 Td (collision ) Tj ET Q q 0 0 0 rg BT 544.22 583.50 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.50 Td (another ) Tj ET Q q 0 0 0 rg BT 81.70 571.50 Td (object ) Tj ET Q q 0 0 0 rg BT 107.85 571.50 Td (or ) Tj ET Q q 0 0 0 rg BT 117.90 571.50 Td (from ) Tj ET Q q 0 0 0 rg BT 139.06 571.50 Td (other ) Tj ET Q q 0 0 0 rg BT 161.32 571.50 Td (risks ) Tj ET Q q 0 0 0 rg BT 181.93 571.50 Td (such ) Tj ET Q q 0 0 0 rg BT 201.98 571.50 Td (as ) Tj ET Q q 0 0 0 rg BT 212.03 571.50 Td (fire ) Tj ET Q q 0 0 0 rg BT 227.62 571.50 Td (or ) Tj ET Q q 0 0 0 rg BT 237.67 571.50 Td (theft. ) Tj ET Q q 0 0 0 rg BT 260.21 571.50 Td (In ) Tj ET Q q 0 0 0 rg BT 270.26 571.50 Td (the ) Tj ET Q q 0 0 0 rg BT 284.20 571.50 Td (short ) Tj ET Q q 0 0 0 rg BT 305.91 571.50 Td (run, ) Tj ET Q q 0 0 0 rg BT 323.46 571.50 Td (automobile ) Tj ET Q q 0 0 0 rg BT 370.17 571.50 Td (physical ) Tj ET Q q 0 0 0 rg BT 405.21 571.50 Td (damage ) Tj ET Q q 0 0 0 rg BT 438.02 571.50 Td (and ) Tj ET Q q 0 0 0 rg BT 454.18 571.50 Td (liability ) Tj ET Q q 0 0 0 rg BT 487.01 571.50 Td (coverage ) Tj ET Q q 0 0 0 rg BT 524.81 571.50 Td (generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.50 Td (provides ) Tj ET Q q 0 0 0 rg BT 86.94 559.50 Td (more ) Tj ET Q q 0 0 0 rg BT 109.99 559.50 Td (predictable ) Tj ET Q q 0 0 0 rg BT 156.90 559.50 Td (results ) Tj ET Q q 0 0 0 rg BT 185.51 559.50 Td (than ) Tj ET Q q 0 0 0 rg BT 205.23 559.50 Td (automobile ) Tj ET Q q 0 0 0 rg BT 252.72 559.50 Td (accident ) Tj ET Q q 0 0 0 rg BT 288.53 559.50 Td (benefit ) Tj ET Q q 0 0 0 rg BT 318.79 559.50 Td (or ) Tj ET Q q 0 0 0 rg BT 329.62 559.50 Td (personal ) Tj ET Q q 0 0 0 rg BT 366.00 559.50 Td (injury ) Tj ET Q q 0 0 0 rg BT 392.39 559.50 Td (insurance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 542.50 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 75.74 542.50 Td (business ) Tj ET Q q 0 0 0 rg BT 112.45 542.50 Td (is ) Tj ET Q q 0 0 0 rg BT 121.95 542.50 Td (carried ) Tj ET Q q 0 0 0 rg BT 152.53 542.50 Td (out ) Tj ET Q q 0 0 0 rg BT 168.13 542.50 Td (through ) Tj ET Q q 0 0 0 rg BT 202.07 542.50 Td (its ) Tj ET Q q 0 0 0 rg BT 214.34 542.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 255.49 542.50 Td (subsidiaries: ) Tj ET Q q 0 0 0 rg BT 307.68 542.50 Td (American ) Tj ET Q q 0 0 0 rg BT 349.93 542.50 Td (Country ) Tj ET Q q 0 0 0 rg BT 385.54 542.50 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 427.23 542.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 468.94 542.50 Td (\(American ) Tj ET Q q 0 0 0 rg BT 518.96 542.50 Td (Country\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.50 Td (American ) Tj ET Q q 0 0 0 rg BT 91.62 530.50 Td (Service ) Tj ET Q q 0 0 0 rg BT 123.79 530.50 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 164.85 530.50 Td (Company) Tj ET Q q 0 0 0 rg BT 203.09 530.50 Td (, ) Tj ET Q q 0 0 0 rg BT 207.78 530.50 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 225.24 530.50 Td (\(American ) Tj ET Q q 0 0 0 rg BT 274.62 530.50 Td (Service\) ) Tj ET Q q 0 0 0 rg BT 314.57 530.50 Td (and ) Tj ET Q q 0 0 0 rg BT 331.20 530.50 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 368.93 530.50 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 409.99 530.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 451.06 530.50 Td (\("Gateway"\). ) Tj ET Q q 0 0 0 rg BT 505.96 530.50 Td (The ) Tj ET Q q 0 0 0 rg BT 523.70 530.50 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.50 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 99.00 518.50 Td (distribute ) Tj ET Q q 0 0 0 rg BT 138.55 518.50 Td (their ) Tj ET Q q 0 0 0 rg BT 158.66 518.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 198.76 518.50 Td (products ) Tj ET Q q 0 0 0 rg BT 234.98 518.50 Td (through ) Tj ET Q q 0 0 0 rg BT 267.87 518.50 Td (a ) Tj ET Q q 0 0 0 rg BT 274.08 518.50 Td (network ) Tj ET Q q 0 0 0 rg BT 308.63 518.50 Td (of ) Tj ET Q q 0 0 0 rg BT 318.75 518.50 Td (retail ) Tj ET Q q 0 0 0 rg BT 341.07 518.50 Td (independent ) Tj ET Q q 0 0 0 rg BT 391.72 518.50 Td (agents. ) Tj ET Q q 0 0 0 rg BT 421.42 518.50 Td (T) Tj ET Q q 0 0 0 rg BT 426.83 518.50 Td (ogether) Tj ET Q q 0 0 0 rg BT 456.42 518.50 Td (, ) Tj ET Q q 0 0 0 rg BT 460.70 518.50 Td (the ) Tj ET Q q 0 0 0 rg BT 474.70 518.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 514.79 518.50 Td (subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 506.50 Td (are ) Tj ET Q q 0 0 0 rg BT 64.28 506.50 Td (licensed ) Tj ET Q q 0 0 0 rg BT 99.11 506.50 Td (to ) Tj ET Q q 0 0 0 rg BT 108.96 506.50 Td (write ) Tj ET Q q 0 0 0 rg BT 131.57 506.50 Td (property ) Tj ET Q q 0 0 0 rg BT 167.52 506.50 Td (and ) Tj ET Q q 0 0 0 rg BT 184.03 506.50 Td (casualty ) Tj ET Q q 0 0 0 rg BT 218.86 506.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 259.25 506.50 Td (in ) Tj ET Q q 0 0 0 rg BT 269.09 506.50 Td (49 ) Tj ET Q q 0 0 0 rg BT 281.16 506.50 Td (states ) Tj ET Q q 0 0 0 rg BT 305.45 506.50 Td ( ) Tj ET Q q 0 0 0 rg BT 307.52 506.50 Td (and ) Tj ET Q q 0 0 0 rg BT 324.03 506.50 Td (the ) Tj ET Q q 0 0 0 rg BT 338.31 506.50 Td (District ) Tj ET Q q 0 0 0 rg BT 370.38 506.50 Td (of ) Tj ET Q q 0 0 0 rg BT 380.78 506.50 Td (Columbia ) Tj ET Q q 0 0 0 rg BT 422.29 506.50 Td (in ) Tj ET Q q 0 0 0 rg BT 432.14 506.50 Td (the ) Tj ET Q q 0 0 0 rg BT 446.42 506.50 Td (United ) Tj ET Q q 0 0 0 rg BT 475.71 506.50 Td (States. ) Tj ET Q q 0 0 0 rg BT 504.16 506.50 Td ( ) Tj ET Q q 0 0 0 rg BT 506.08 506.50 Td (The ) Tj ET Q q 0 0 0 rg BT 523.70 506.50 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 494.50 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 99.72 494.50 Td (share ) Tj ET Q q 0 0 0 rg BT 123.32 494.50 Td (common ) Tj ET Q q 0 0 0 rg BT 160.81 494.50 Td (management ) Tj ET Q q 0 0 0 rg BT 214.40 494.50 Td (and ) Tj ET Q q 0 0 0 rg BT 231.34 494.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 271.60 494.50 Td (infrastructure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 477.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 74.55 477.50 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 111.86 477.50 Td (common ) Tj ET Q q 0 0 0 rg BT 150.30 477.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 178.73 477.50 Td (had ) Tj ET Q q 0 0 0 rg BT 196.60 477.50 Td (been ) Tj ET Q q 0 0 0 rg BT 218.92 477.50 Td (listed ) Tj ET Q q 0 0 0 rg BT 244.02 477.50 Td (on ) Tj ET Q q 0 0 0 rg BT 257.46 477.50 Td (the ) Tj ET Q q 0 0 0 rg BT 272.87 477.50 Td (TSXV) Tj ET Q q 0 0 0 rg BT 298.80 477.50 Td ( ) Tj ET Q q 0 0 0 rg BT 302.24 477.50 Td (under ) Tj ET Q q 0 0 0 rg BT 328.45 477.50 Td (the ) Tj ET Q q 0 0 0 rg BT 344.10 477.50 Td (symbol ) Tj ET Q q 0 0 0 rg BT 376.99 477.50 Td (AFH ) Tj ET Q q 0 0 0 rg BT 409.31 477.50 Td (since ) Tj ET Q q 0 0 0 rg BT 433.30 477.50 Td (January ) Tj ET Q q 0 0 0 rg BT 467.84 477.50 Td (6, ) Tj ET Q q 0 0 0 rg BT 478.78 477.50 Td (201) Tj ET Q q 0 0 0 rg BT 493.40 477.50 Td (1. ) Tj ET Q q 0 0 0 rg BT 503.58 477.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 528.13 477.50 Td (ordinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 465.50 Td (common ) Tj ET Q q 0 0 0 rg BT 86.86 465.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 113.71 465.50 Td (became ) Tj ET Q q 0 0 0 rg BT 146.10 465.50 Td (listed ) Tj ET Q q 0 0 0 rg BT 169.63 465.50 Td (on ) Tj ET Q q 0 0 0 rg BT 181.49 465.50 Td (the ) Tj ET Q q 0 0 0 rg BT 195.57 465.50 Td (NASDAQ ) Tj ET Q q 0 0 0 rg BT 239.10 465.50 Td (stock ) Tj ET Q q 0 0 0 rg BT 262.07 465.50 Td (exchange ) Tj ET Q q 0 0 0 rg BT 301.69 465.50 Td (on ) Tj ET Q q 0 0 0 rg BT 313.55 465.50 Td (February ) Tj ET Q q 0 0 0 rg BT 351.51 465.50 Td (1) Tj ET Q q 0 0 0 rg BT 356.14 465.50 Td (1, ) Tj ET Q q 0 0 0 rg BT 365.50 465.50 Td (2013 ) Tj ET Q q 0 0 0 rg BT 387.36 465.50 Td (and ) Tj ET Q q 0 0 0 rg BT 403.66 465.50 Td (continue ) Tj ET Q q 0 0 0 rg BT 439.96 465.50 Td (to ) Tj ET Q q 0 0 0 rg BT 449.60 465.50 Td (trade ) Tj ET Q q 0 0 0 rg BT 471.45 465.50 Td (on ) Tj ET Q q 0 0 0 rg BT 483.31 465.50 Td (this ) Tj ET Q q 0 0 0 rg BT 499.62 465.50 Td (exchange ) Tj ET Q q 0 0 0 rg BT 539.23 465.50 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 453.50 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 453.50 Td (same ) Tj ET Q q 0 0 0 rg BT 87.76 453.50 Td (symbol. ) Tj ET Q q 0 0 0 rg BT 122.03 453.50 Td (The ) Tj ET Q q 0 0 0 rg BT 140.08 453.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 181.46 453.50 Td (delisted ) Tj ET Q q 0 0 0 rg BT 215.07 453.50 Td (from ) Tj ET Q q 0 0 0 rg BT 237.01 453.50 Td (the ) Tj ET Q q 0 0 0 rg BT 251.54 453.50 Td (TSXV) Tj ET Q q 0 0 0 rg BT 277.48 453.50 Td ( ) Tj ET Q q 0 0 0 rg BT 279.98 453.50 Td (on ) Tj ET Q q 0 0 0 rg BT 292.48 453.50 Td (June ) Tj ET Q q 0 0 0 rg BT 313.31 453.50 Td (5, ) Tj ET Q q 0 0 0 rg BT 323.31 453.50 Td (2013.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 436.50 Td (Basis ) Tj ET Q q 0 0 0 rg BT 74.64 436.50 Td (of ) Tj ET Q q 0 0 0 rg BT 85.37 436.50 Td (pr) Tj ET Q q 0 0 0 rg BT 95.19 436.50 Td (esentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.52 436.50 Td ( ) Tj ET Q q 0 0 0 rg BT 140.92 436.50 Td (- ) Tj ET Q q 0 0 0 rg BT 146.48 436.50 Td (These ) Tj ET Q q 0 0 0 rg BT 172.76 436.50 Td (statements ) Tj ET Q q 0 0 0 rg BT 217.38 436.50 Td (have ) Tj ET Q q 0 0 0 rg BT 238.66 436.50 Td (been ) Tj ET Q q 0 0 0 rg BT 259.94 436.50 Td (prepared ) Tj ET Q q 0 0 0 rg BT 297.32 436.50 Td (in ) Tj ET Q q 0 0 0 rg BT 307.50 436.50 Td (conformity ) Tj ET Q q 0 0 0 rg BT 354.34 436.50 Td (with ) Tj ET Q q 0 0 0 rg BT 374.52 436.50 Td (accounting ) Tj ET Q q 0 0 0 rg BT 420.80 436.50 Td (principles ) Tj ET Q q 0 0 0 rg BT 462.63 436.50 Td (generally ) Tj ET Q q 0 0 0 rg BT 502.24 436.50 Td (accepted ) Tj ET Q q 0 0 0 rg BT 539.62 436.50 Td (in ) Tj ET Q q 0 0 0 rg BT 549.80 436.50 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.50 Td (United ) Tj ET Q q 0 0 0 rg BT 78.63 424.50 Td (States ) Tj ET Q q 0 0 0 rg BT 103.93 424.50 Td (of ) Tj ET Q q 0 0 0 rg BT 113.37 424.50 Td (America ) Tj ET Q q 0 0 0 rg BT 149.21 424.50 Td (\("U.S. ) Tj ET Q q 0 0 0 rg BT 175.82 424.50 Td (GAAP"\). ) Tj ET Q q 0 0 0 rg BT 214.06 424.50 Td (All ) Tj ET Q q 0 0 0 rg BT 228.25 424.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 271.88 424.50 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 328.27 424.50 Td (accounts ) Tj ET Q q 0 0 0 rg BT 364.67 424.50 Td (and ) Tj ET Q q 0 0 0 rg BT 380.53 424.50 Td (transactions ) Tj ET Q q 0 0 0 rg BT 429.71 424.50 Td (have ) Tj ET Q q 0 0 0 rg BT 450.00 424.50 Td (been ) Tj ET Q q 0 0 0 rg BT 470.29 424.50 Td (eliminated. ) Tj ET Q q 0 0 0 rg BT 516.31 424.50 Td (T) Tj ET Q q 0 0 0 rg BT 521.72 424.50 Td (o ) Tj ET Q q 0 0 0 rg BT 528.13 424.50 Td (conform ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.50 Td (to ) Tj ET Q q 0 0 0 rg BT 61.89 412.50 Td (the ) Tj ET Q q 0 0 0 rg BT 78.21 412.50 Td (current ) Tj ET Q q 0 0 0 rg BT 110.64 412.50 Td (year ) Tj ET Q q 0 0 0 rg BT 131.96 412.50 Td (presentation, ) Tj ET Q q 0 0 0 rg BT 187.44 412.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 218.75 412.50 Td (amounts ) Tj ET Q q 0 0 0 rg BT 256.75 412.50 Td (in ) Tj ET Q q 0 0 0 rg BT 268.64 412.50 Td (the ) Tj ET Q q 0 0 0 rg BT 284.96 412.50 Td (prior ) Tj ET Q q 0 0 0 rg BT 308.51 412.50 Td (years) Tj ET Q q 0 0 0 rg BT 332.20 412.50 Td ( ) Tj ET Q q 0 0 0 rg BT 336.31 412.50 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 390.96 412.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 430.05 412.50 Td (statements ) Tj ET Q q 0 0 0 rg BT 476.37 412.50 Td (and ) Tj ET Q q 0 0 0 rg BT 494.92 412.50 Td (notes ) Tj ET Q q 0 0 0 rg BT 520.14 412.50 Td (have ) Tj ET Q q 0 0 0 rg BT 543.12 412.50 Td (been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.50 Td (reclassified.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.50 Td (Beginning ) Tj ET Q q 0 0 0 rg BT 93.88 383.50 Td (with ) Tj ET Q q 0 0 0 rg BT 113.87 383.50 Td (the ) Tj ET Q q 0 0 0 rg BT 128.30 383.50 Td (year ) Tj ET Q q 0 0 0 rg BT 147.72 383.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 173.82 383.50 Td (December ) Tj ET Q q 0 0 0 rg BT 217.11 383.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 231.83 383.50 Td (2012, ) Tj ET Q q 0 0 0 rg BT 256.05 383.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 279.38 383.50 Td (has ) Tj ET Q q 0 0 0 rg BT 294.92 383.50 Td (changed ) Tj ET Q q 0 0 0 rg BT 330.45 383.50 Td (where ) Tj ET Q q 0 0 0 rg BT 357.09 383.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 386.51 383.50 Td (items ) Tj ET Q q 0 0 0 rg BT 410.39 383.50 Td (appear ) Tj ET Q q 0 0 0 rg BT 439.25 383.50 Td (on ) Tj ET Q q 0 0 0 rg BT 451.46 383.50 Td (its ) Tj ET Q q 0 0 0 rg BT 463.13 383.50 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 518.11 383.50 Td (Statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.50 Td (of 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ET q 0 0 0 rg BT 162.47 327.70 Td ( ) Tj ET Q q 0 0 0 rg BT 165.92 327.70 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.71 327.70 Td (The ) Tj ET Q q 0 0 0 rg BT 191.71 327.70 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 245.70 327.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 284.14 327.70 Td (statements ) Tj ET Q q 0 0 0 rg BT 329.80 327.70 Td (include ) Tj ET Q q 0 0 0 rg BT 362.69 327.70 Td (the ) Tj ET Q q 0 0 0 rg BT 378.36 327.70 Td (accounts ) Tj ET Q q 0 0 0 rg BT 416.80 327.70 Td (of ) Tj ET Q q 0 0 0 rg BT 427.82 327.70 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 452.38 327.70 Td (and ) Tj ET Q q 0 0 0 rg BT 470.27 327.70 Td (the ) Tj ET Q q 0 0 0 rg BT 485.94 327.70 Td (entities ) Tj ET Q q 0 0 0 rg BT 518.28 327.70 Td (it ) Tj ET Q q 0 0 0 rg BT 527.29 327.70 Td (controls. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 315.70 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 101.70 315.70 Td (are ) Tj ET Q q 0 0 0 rg BT 116.72 315.70 Td (entities ) Tj ET Q q 0 0 0 rg BT 148.41 315.70 Td (over ) Tj ET Q q 0 0 0 rg BT 168.99 315.70 Td (which ) Tj ET Q q 0 0 0 rg BT 195.62 315.70 Td (Atlas, ) Tj ET Q q 0 0 0 rg BT 222.05 315.70 Td (directly ) Tj ET Q q 0 0 0 rg BT 255.40 315.70 Td (or ) Tj ET Q q 0 0 0 rg BT 266.54 315.70 Td (indirectly) Tj ET Q q 0 0 0 rg BT 304.21 315.70 Td (, ) Tj ET Q q 0 0 0 rg BT 309.53 315.70 Td (has ) Tj ET Q q 0 0 0 rg BT 325.67 315.70 Td (the ) Tj ET Q q 0 0 0 rg BT 340.70 315.70 Td (power ) Tj ET Q q 0 0 0 rg BT 368.50 315.70 Td (to ) Tj ET Q q 0 0 0 rg BT 379.09 315.70 Td (govern ) Tj ET Q q 0 0 0 rg BT 409.67 315.70 Td (the ) Tj ET Q q 0 0 0 rg BT 424.70 315.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 462.49 315.70 Td (and ) Tj ET Q q 0 0 0 rg BT 479.75 315.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 520.32 315.70 Td (policies ) Tj ET Q q 0 0 0 rg BT 554.24 315.70 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 303.70 Td (order ) Tj ET Q q 0 0 0 rg BT 74.24 303.70 Td (to ) Tj ET Q q 0 0 0 rg BT 85.16 303.70 Td (obtain ) Tj ET Q q 0 0 0 rg BT 113.30 303.70 Td (the ) Tj ET Q q 0 0 0 rg BT 128.65 303.70 Td (benefits ) Tj ET Q q 0 0 0 rg BT 163.45 303.70 Td (from ) Tj ET Q q 0 0 0 rg BT 186.03 303.70 Td (their ) Tj ET Q q 0 0 0 rg BT 207.50 303.70 Td (activities, ) Tj ET Q q 0 0 0 rg BT 249.24 303.70 Td (generally ) Tj ET Q q 0 0 0 rg BT 289.58 303.70 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 351.03 303.70 Td (an ) Tj ET Q q 0 0 0 rg BT 363.61 303.70 Td (equity ) Tj ET Q q 0 0 0 rg BT 391.75 303.70 Td (shareholding ) Tj ET Q q 0 0 0 rg BT 446.54 303.70 Td (of ) Tj ET Q q 0 0 0 rg BT 458.01 303.70 Td (more ) Tj ET Q q 0 0 0 rg BT 481.70 303.70 Td (than ) Tj ET Q q 0 0 0 rg BT 502.06 303.70 Td (one ) Tj ET Q q 0 0 0 rg BT 519.64 303.70 Td (half ) Tj ET Q q 0 0 0 rg BT 538.33 303.70 Td (of ) Tj ET Q q 0 0 0 rg BT 549.80 303.70 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 291.70 Td (voting ) Tj ET Q q 0 0 0 rg BT 77.08 291.70 Td (rights. ) Tj ET Q q 0 0 0 rg BT 103.87 291.70 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 154.28 291.70 Td (are ) Tj ET Q q 0 0 0 rg BT 168.00 291.70 Td (fully ) Tj ET Q q 0 0 0 rg BT 188.41 291.70 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 240.47 291.70 Td (from ) Tj ET Q q 0 0 0 rg BT 261.43 291.70 Td (the ) Tj ET Q q 0 0 0 rg BT 275.16 291.70 Td (date ) Tj ET Q q 0 0 0 rg BT 293.33 291.70 Td (on ) Tj ET Q q 0 0 0 rg BT 304.85 291.70 Td (which ) Tj ET Q q 0 0 0 rg BT 330.81 291.70 Td (control ) Tj ET Q q 0 0 0 rg BT 360.65 291.70 Td (is ) Tj ET Q q 0 0 0 rg BT 368.84 291.70 Td (transferred ) Tj ET Q q 0 0 0 rg BT 413.67 291.70 Td (to ) Tj ET Q q 0 0 0 rg BT 422.63 291.70 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 445.26 291.70 Td (and ) Tj ET Q q 0 0 0 rg BT 461.21 291.70 Td (would ) Tj ET Q q 0 0 0 rg BT 487.73 291.70 Td (be ) Tj ET Q q 0 0 0 rg BT 498.69 291.70 Td (de-consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 279.70 Td (from ) Tj ET Q q 0 0 0 rg BT 71.76 279.70 Td (the ) Tj ET Q q 0 0 0 rg BT 86.29 279.70 Td (date ) Tj ET Q q 0 0 0 rg BT 105.27 279.70 Td (that ) Tj ET Q q 0 0 0 rg BT 122.58 279.70 Td (control ) Tj ET Q q 0 0 0 rg BT 153.23 279.70 Td (ceases. ) Tj ET Q q 0 0 0 rg BT 183.42 279.70 Td (The ) Tj ET Q q 0 0 0 rg BT 201.28 279.70 Td (operating ) Tj ET Q q 0 0 0 rg BT 241.37 279.70 Td (results ) Tj ET Q q 0 0 0 rg BT 269.79 279.70 Td (of ) Tj ET Q q 0 0 0 rg BT 280.44 279.70 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 329.98 279.70 Td (acquired ) Tj ET Q q 0 0 0 rg BT 366.72 279.70 Td (or ) Tj ET Q q 0 0 0 rg BT 377.37 279.70 Td (disposed ) Tj ET Q q 0 0 0 rg BT 414.69 279.70 Td (of ) Tj ET Q q 0 0 0 rg BT 425.34 279.70 Td (during ) Tj ET Q q 0 0 0 rg BT 453.77 279.70 Td (the ) Tj ET Q q 0 0 0 rg BT 468.30 279.70 Td (year ) Tj ET Q q 0 0 0 rg BT 487.83 279.70 Td (will ) Tj ET Q q 0 0 0 rg BT 505.71 279.70 Td (be ) Tj ET Q q 0 0 0 rg BT 517.46 279.70 Td (included ) Tj ET Q q 0 0 0 rg BT 554.22 279.70 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 267.70 Td (the ) Tj ET Q q 0 0 0 rg BT 65.01 267.70 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 118.35 267.70 Td (statements ) Tj ET Q q 0 0 0 rg BT 163.36 267.70 Td (of ) Tj ET Q q 0 0 0 rg BT 174.49 267.70 Td (income ) Tj ET Q q 0 0 0 rg BT 206.72 267.70 Td (and ) Tj ET Q q 0 0 0 rg BT 223.95 267.70 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 287.28 267.70 Td (income ) Tj ET Q q 0 0 0 rg BT 319.51 267.70 Td (from ) Tj ET Q q 0 0 0 rg BT 341.75 267.70 Td (the ) Tj ET Q q 0 0 0 rg BT 356.76 267.70 Td (ef) Tj ET Q q 0 0 0 rg BT 364.35 267.70 Td (fective ) Tj ET Q q 0 0 0 rg BT 394.35 267.70 Td (date ) Tj ET Q q 0 0 0 rg BT 413.80 267.70 Td (of ) Tj ET Q q 0 0 0 rg BT 424.93 267.70 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 471.61 267.70 Td (and ) Tj ET Q q 0 0 0 rg BT 488.84 267.70 Td (up ) Tj ET Q q 0 0 0 rg BT 501.64 267.70 Td (to ) Tj ET Q q 0 0 0 rg BT 512.21 267.70 Td (the ) Tj ET Q q 0 0 0 rg BT 527.23 267.70 Td (ef) Tj ET Q q 0 0 0 rg BT 534.82 267.70 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 255.70 Td (date ) Tj ET Q q 0 0 0 rg BT 68.27 255.70 Td (of ) Tj ET Q q 0 0 0 rg BT 78.22 255.70 Td (disposal, ) Tj ET Q q 0 0 0 rg BT 115.12 255.70 Td (as ) Tj ET Q q 0 0 0 rg BT 125.06 255.70 Td (appropriate. ) Tj ET Q q 0 0 0 rg BT 174.36 255.70 Td (All ) Tj ET Q q 0 0 0 rg BT 188.75 255.70 Td (significant ) Tj ET Q q 0 0 0 rg BT 232.58 255.70 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 289.18 255.70 Td (transactions ) Tj ET Q q 0 0 0 rg BT 338.56 255.70 Td (and ) Tj ET Q q 0 0 0 rg BT 354.62 255.70 Td (balances ) Tj ET Q q 0 0 0 rg BT 390.66 255.70 Td (are ) Tj ET Q q 0 0 0 rg BT 404.48 255.70 Td (eliminated ) Tj ET Q q 0 0 0 rg BT 448.31 255.70 Td (in ) Tj ET Q q 0 0 0 rg BT 457.71 255.70 Td (consolidation. ) Tj ET Q q 0 0 0 rg BT 515.35 255.70 Td (Accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 243.70 Td (policies ) Tj ET Q q 0 0 0 rg BT 83.60 243.70 Td (of ) Tj ET Q q 0 0 0 rg BT 94.43 243.70 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 144.15 243.70 Td (have ) Tj ET Q q 0 0 0 rg BT 165.53 243.70 Td (been ) Tj ET Q q 0 0 0 rg BT 186.90 243.70 Td (changed ) Tj ET Q q 0 0 0 rg BT 222.72 243.70 Td (where ) Tj ET Q q 0 0 0 rg BT 249.65 243.70 Td (necessary ) Tj ET Q q 0 0 0 rg BT 291.02 243.70 Td (to ) Tj ET Q q 0 0 0 rg BT 301.29 243.70 Td (ensure ) Tj ET Q q 0 0 0 rg BT 329.89 243.70 Td (consistency ) Tj ET Q q 0 0 0 rg BT 379.05 243.70 Td (with ) Tj ET Q q 0 0 0 rg BT 399.33 243.70 Td (the ) Tj ET Q q 0 0 0 rg BT 414.04 243.70 Td (policies ) Tj ET Q q 0 0 0 rg BT 447.65 243.70 Td (adopted ) Tj ET Q q 0 0 0 rg BT 481.80 243.70 Td (by ) Tj ET Q q 0 0 0 rg BT 493.75 243.70 Td (Atlas.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.70 Td (The ) Tj ET Q q 0 0 0 rg BT 68.00 226.70 Td (following ) Tj ET Q q 0 0 0 rg BT 109.34 226.70 Td (are ) Tj ET Q q 0 0 0 rg BT 123.46 226.70 Td (Atlas) Tj ET Q q 0 0 0 rg BT 147.15 226.70 Td ( ) Tj ET Q q 0 0 0 rg BT 149.61 226.70 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 201.78 226.70 Td (all ) Tj ET Q q 0 0 0 rg BT 214.22 226.70 Td (of ) Tj ET Q q 0 0 0 rg BT 225.01 226.70 Td (which ) Tj ET Q q 0 0 0 rg BT 251.90 226.70 Td (are ) Tj ET Q q 0 0 0 rg BT 266.56 226.70 Td (100% ) Tj ET Q q 0 0 0 rg BT 292.34 226.70 Td (owned, ) Tj ET Q q 0 0 0 rg BT 323.95 226.70 Td (either ) Tj ET Q q 0 0 0 rg BT 349.17 226.70 Td (directly ) Tj ET Q q 0 0 0 rg BT 382.16 226.70 Td (or ) Tj ET Q q 0 0 0 rg BT 392.95 226.70 Td (indirectly) Tj ET Q q 0 0 0 rg BT 430.62 226.70 Td (, ) Tj ET Q q 0 0 0 rg BT 435.57 226.70 Td (together ) Tj ET Q q 0 0 0 rg BT 470.79 226.70 Td (with ) Tj ET Q q 0 0 0 rg BT 491.02 226.70 Td (the ) Tj ET Q q 0 0 0 rg BT 505.69 226.70 Td (jurisdiction ) Tj ET Q q 0 0 0 rg BT 553.69 226.70 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.70 Td (incorporation ) Tj ET Q q 0 0 0 rg BT 106.37 214.70 Td (that ) Tj ET Q q 0 0 0 rg BT 123.87 214.70 Td (are ) Tj ET Q q 0 0 0 rg BT 138.57 214.70 Td (included ) Tj ET Q q 0 0 0 rg BT 175.51 214.70 Td (in ) Tj ET Q q 0 0 0 rg BT 185.79 214.70 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 238.83 214.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 276.31 214.70 Td (statements:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 195.90 Td (American ) Tj ET Q q 0 0 0 rg BT 127.92 195.90 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 168.74 195.90 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 217.90 195.90 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 235.67 195.90 Td (\(Delaware\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 182.10 Td (American ) Tj ET Q q 0 0 0 rg BT 127.92 182.10 Td (Country ) Tj ET Q q 0 0 0 rg BT 163.20 182.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 204.57 182.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 245.96 182.10 Td (\(Illinois\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 168.30 Td (American ) Tj ET Q q 0 0 0 rg BT 127.92 168.30 Td (Service ) Tj ET Q q 0 0 0 rg BT 160.41 168.30 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 201.78 168.30 Td (Company) Tj ET Q q 0 0 0 rg BT 240.01 168.30 Td (, ) Tj ET Q q 0 0 0 rg BT 245.01 168.30 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 262.78 168.30 Td (\(Illinois\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.50 Td (Camelot ) Tj ET Q q 0 0 0 rg BT 122.38 154.50 Td (Services, ) Tj ET Q q 0 0 0 rg BT 161.26 154.50 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 179.03 154.50 Td (\(Missouri\) ) Tj ET Q q 0 0 0 rg BT 223.75 154.50 Td (- ) Tj ET Q q 0 0 0 rg BT 229.58 154.50 Td (mer) Tj ET Q q 0 0 0 rg BT 244.95 154.50 Td (ged ) Tj ET Q q 0 0 0 rg BT 261.88 154.50 Td (into ) Tj ET Q q 0 0 0 rg BT 279.39 154.50 Td (American ) Tj ET Q q 0 0 0 rg BT 321.31 154.50 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 362.13 154.50 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 411.29 154.50 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 429.06 154.50 Td (during ) Tj ET Q q 0 0 0 rg BT 457.67 154.50 Td (the ) Tj ET Q q 0 0 0 rg BT 472.39 154.50 Td (fourth ) Tj ET Q q 0 0 0 rg BT 499.33 154.50 Td (quarter ) Tj ET Q q 0 0 0 rg BT 530.14 154.50 Td (of ) Tj ET Q q 0 0 0 rg BT 540.97 154.50 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 140.70 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 124.04 140.70 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 165.40 140.70 Td (Company ) Tj ET Q q 0 0 0 rg BT 206.79 140.70 Td (\(Missouri\) ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 123.70 Td (Classification ) Tj ET Q q 0 0 0 rg BT 108.89 123.70 Td (of ) Tj ET Q q 0 0 0 rg BT 119.44 123.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 145.54 123.70 Td (and ) Tj ET Q q 0 0 0 rg BT 163.32 123.70 Td (liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.10 123.70 Td ( ) Tj ET Q q 0 0 0 rg BT 203.32 123.70 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.86 123.70 Td (It ) Tj ET Q q 0 0 0 rg BT 217.19 123.70 Td (is ) Tj ET Q q 0 0 0 rg BT 226.07 123.70 Td (not ) Tj ET Q q 0 0 0 rg BT 241.07 123.70 Td (customary ) Tj ET Q q 0 0 0 rg BT 284.94 123.70 Td (in ) Tj ET Q q 0 0 0 rg BT 294.93 123.70 Td (the ) Tj ET Q q 0 0 0 rg BT 309.36 123.70 Td (insurance ) Tj ET Q q 0 0 0 rg BT 349.89 123.70 Td (and ) Tj ET Q q 0 0 0 rg BT 366.55 123.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 403.75 123.70 Td (services ) Tj ET Q q 0 0 0 rg BT 438.17 123.70 Td (industries ) Tj ET Q q 0 0 0 rg BT 479.27 123.70 Td (to ) Tj ET Q q 0 0 0 rg BT 489.26 123.70 Td (classify ) Tj ET Q q 0 0 0 rg BT 522.03 123.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 547.57 123.70 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 111.70 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 89.76 111.70 Td (as ) Tj ET Q q 0 0 0 rg BT 100.63 111.70 Td (current ) Tj ET Q q 0 0 0 rg BT 131.48 111.70 Td (\(settled ) Tj ET Q q 0 0 0 rg BT 163.45 111.70 Td (in ) Tj ET Q q 0 0 0 rg BT 173.77 111.70 Td (1 ) Tj ET Q q 0 0 0 rg BT 181.31 111.70 Td (year ) Tj ET Q q 0 0 0 rg BT 201.05 111.70 Td (or ) Tj ET Q q 0 0 0 rg BT 211.92 111.70 Td (less\) ) Tj ET Q q 0 0 0 rg BT 232.79 111.70 Td (and ) Tj ET Q q 0 0 0 rg BT 249.77 111.70 Td (non-current ) Tj ET Q q 0 0 0 rg BT 298.96 111.70 Td (\(settled ) Tj ET Q q 0 0 0 rg BT 330.93 111.70 Td (beyond ) Tj ET Q q 0 0 0 rg BT 362.91 111.70 Td (1 ) Tj ET Q q 0 0 0 rg BT 370.44 111.70 Td (year\). ) Tj ET Q q 0 0 0 rg BT 395.46 111.70 Td (Assets ) Tj ET Q q 0 0 0 rg BT 424.11 111.70 Td (and ) Tj ET Q q 0 0 0 rg BT 441.09 111.70 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 480.85 111.70 Td (that ) Tj ET Q q 0 0 0 rg BT 498.38 111.70 Td (could ) Tj ET Q q 0 0 0 rg BT 523.14 111.70 Td (otherwise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 99.70 Td (be ) Tj ET Q q 0 0 0 rg BT 61.19 99.70 Td (classified ) Tj ET Q q 0 0 0 rg BT 100.70 99.70 Td (as ) Tj ET Q q 0 0 0 rg BT 110.78 99.70 Td (current ) Tj ET Q q 0 0 0 rg BT 140.84 99.70 Td (include ) Tj ET Q q 0 0 0 rg BT 172.02 99.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 191.54 99.70 Td (and ) Tj ET Q q 0 0 0 rg BT 207.72 99.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 227.24 99.70 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 277.03 99.70 Td (accrued ) Tj ET Q q 0 0 0 rg BT 309.86 99.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 355.49 99.70 Td (income, ) Tj ET Q q 0 0 0 rg BT 389.17 99.70 Td (accounts ) Tj ET Q q 0 0 0 rg BT 425.91 99.70 Td (receivable ) Tj ET Q q 0 0 0 rg BT 468.74 99.70 Td (and ) Tj ET Q q 0 0 0 rg BT 484.92 99.70 Td (other ) Tj ET Q q 0 0 0 rg BT 507.22 99.70 Td (assets, ) Tj ET Q q 0 0 0 rg BT 534.79 99.70 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 87.70 Td (amounts ) Tj ET Q q 0 0 0 rg BT 87.15 87.70 Td (due ) Tj ET Q q 0 0 0 rg BT 104.86 87.70 Td (from ) Tj ET Q q 0 0 0 rg BT 127.56 87.70 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 170.25 87.70 Td (and ) Tj ET Q q 0 0 0 rg BT 187.96 87.70 Td (other ) Tj ET Q q 0 0 0 rg BT 211.77 87.70 Td (insurers, ) Tj ET Q q 0 0 0 rg BT 249.20 87.70 Td (income ) Tj ET Q q 0 0 0 rg BT 281.90 87.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 297.38 87.70 Td (receivable, ) Tj ET Q q 0 0 0 rg BT 344.22 87.70 Td (deferred ) Tj ET Q q 0 0 0 rg BT 380.79 87.70 Td (policy ) Tj ET Q q 0 0 0 rg BT 409.06 87.70 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 456.20 87.70 Td (costs, ) Tj ET Q q 0 0 0 rg BT 481.97 87.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 508.56 87.70 Td (held ) Tj ET Q q 0 0 0 rg BT 529.05 87.70 Td (for ) Tj ET Q q 0 0 0 rg BT 543.97 87.70 Td (sale, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 75.70 Td (accounts ) Tj ET Q q 0 0 0 rg BT 87.09 75.70 Td (payable ) Tj ET Q q 0 0 0 rg BT 120.30 75.70 Td (and ) Tj ET Q q 0 0 0 rg BT 136.85 75.70 Td (accrued ) Tj ET Q q 0 0 0 rg BT 170.04 75.70 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 210.75 75.70 Td (due ) Tj ET Q q 0 0 0 rg BT 227.29 75.70 Td (to ) Tj ET Q q 0 0 0 rg BT 237.18 75.70 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 278.72 75.70 Td (and ) Tj ET Q q 0 0 0 rg BT 295.27 75.70 Td (other ) Tj ET Q q 0 0 0 rg BT 317.92 75.70 Td (insurers. ) Tj ET Q q 0 0 0 rg BT 354.19 75.70 Td ( ) Tj ET Q q 0 0 0 rg BT 356.30 75.70 Td ( ) Tj ET Q q 0 0 0 rg BT 358.41 75.70 Td (Balances ) Tj ET Q q 0 0 0 rg BT 396.62 75.70 Td (that ) Tj ET Q q 0 0 0 rg BT 413.72 75.70 Td (would ) Tj ET Q q 0 0 0 rg BT 440.83 75.70 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 481.82 75.70 Td (be ) Tj ET Q q 0 0 0 rg BT 493.36 75.70 Td (classified ) Tj ET Q q 0 0 0 rg BT 533.24 75.70 Td (as ) Tj ET Q q 0 0 0 rg BT 543.68 75.70 Td (non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 63.70 Td (current ) Tj ET Q q 0 0 0 rg BT 80.62 63.70 Td (include ) Tj ET Q q 0 0 0 rg BT 112.35 63.70 Td (deferred ) Tj ET Q q 0 0 0 rg BT 147.96 63.70 Td (tax ) Tj ET Q q 0 0 0 rg BT 162.48 63.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 188.11 63.70 Td (and ) Tj ET Q q 0 0 0 rg BT 204.85 63.70 Td (of) Tj ET Q q 0 0 0 rg BT 213.00 63.70 Td (fice ) Tj ET Q q 0 0 0 rg BT 230.28 63.70 Td (equipment. ) Tj ET Q q 0 0 0 rg BT 276.79 63.70 Td (All ) Tj ET Q q 0 0 0 rg BT 291.87 63.70 Td (other ) Tj ET Q q 0 0 0 rg BT 314.72 63.70 Td (assets ) Tj ET Q q 0 0 0 rg BT 340.35 63.70 Td (and ) Tj ET Q q 0 0 0 rg BT 357.09 63.70 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 396.61 63.70 Td (include ) Tj ET Q q 0 0 0 rg BT 428.34 63.70 Td (balances ) Tj ET Q q 0 0 0 rg BT 465.07 63.70 Td (that ) Tj ET Q q 0 0 0 rg BT 482.36 63.70 Td (are ) Tj ET Q q 0 0 0 rg BT 496.87 63.70 Td (both ) Tj ET Q q 0 0 0 rg BT 516.95 63.70 Td (current ) Tj ET Q q 0 0 0 rg BT 547.57 63.70 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 51.70 Td (non-current.) Tj ET Q endstream endobj 121 0 obj <> endobj 122 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (60) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Estimates ) Tj ET Q q 0 0 0 rg BT 92.77 742.25 Td (and ) Tj ET Q q 0 0 0 rg BT 111.11 742.25 Td (assumptions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.01 742.25 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.11 742.25 Td (The ) Tj ET Q q 0 0 0 rg BT 189.43 742.25 Td (preparation ) Tj ET Q q 0 0 0 rg BT 237.73 742.25 Td (of ) Tj ET Q q 0 0 0 rg BT 248.83 742.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 286.58 742.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 331.56 742.25 Td (requires ) Tj ET Q q 0 0 0 rg BT 366.54 742.25 Td (management ) Tj ET Q q 0 0 0 rg BT 420.40 742.25 Td (to ) Tj ET Q q 0 0 0 rg BT 430.95 742.25 Td (make ) Tj ET Q q 0 0 0 rg BT 455.37 742.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 495.35 742.25 Td (and ) Tj ET Q q 0 0 0 rg BT 512.56 742.25 Td (assumptions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (that ) Tj ET Q q 0 0 0 rg BT 67.96 730.25 Td (af) Tj ET Q q 0 0 0 rg BT 75.55 730.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 93.51 730.25 Td (the ) Tj ET Q q 0 0 0 rg BT 108.69 730.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 144.98 730.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 181.83 730.25 Td (of ) Tj ET Q q 0 0 0 rg BT 193.13 730.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 219.43 730.25 Td (and ) Tj ET Q q 0 0 0 rg BT 236.84 730.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 277.02 730.25 Td (and ) Tj ET Q q 0 0 0 rg BT 294.43 730.25 Td (the ) Tj ET Q q 0 0 0 rg BT 309.61 730.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 353.13 730.25 Td (of ) Tj ET Q q 0 0 0 rg BT 364.43 730.25 Td (contingent ) Tj ET Q q 0 0 0 rg BT 409.61 730.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 435.91 730.25 Td (and ) Tj ET Q q 0 0 0 rg BT 453.32 730.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 493.50 730.25 Td (at ) Tj ET Q q 0 0 0 rg BT 503.69 730.25 Td (the ) Tj ET Q q 0 0 0 rg BT 518.87 730.25 Td (date ) Tj ET Q q 0 0 0 rg BT 538.50 730.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 730.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.32 718.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 131.88 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 148.65 718.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 184.31 718.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 220.54 718.25 Td (of ) Tj ET Q q 0 0 0 rg BT 231.21 718.25 Td (revenues ) Tj ET Q q 0 0 0 rg BT 269.09 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 285.87 718.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 324.31 718.25 Td (during ) Tj ET Q q 0 0 0 rg BT 352.76 718.25 Td (the ) Tj ET Q q 0 0 0 rg BT 367.32 718.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 406.31 718.25 Td (period. ) Tj ET Q q 0 0 0 rg BT 436.19 718.25 Td (Actual ) Tj ET Q q 0 0 0 rg BT 465.18 718.25 Td (results ) Tj ET Q q 0 0 0 rg BT 493.63 718.25 Td (could ) Tj ET Q q 0 0 0 rg BT 518.19 718.25 Td (dif) Tj ET Q q 0 0 0 rg BT 529.12 718.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 542.56 718.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (these ) Tj ET Q q 0 0 0 rg BT 73.49 706.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 113.64 706.25 Td (and ) Tj ET Q q 0 0 0 rg BT 131.02 706.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 166.16 706.25 Td (in ) Tj ET Q q 0 0 0 rg BT 176.88 706.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 217.03 706.25 Td (are ) Tj ET Q q 0 0 0 rg BT 232.18 706.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 270.09 706.25 Td (in ) Tj ET Q q 0 0 0 rg BT 280.81 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 295.97 706.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 342.78 706.25 Td (period ) Tj ET Q q 0 0 0 rg BT 371.26 706.25 Td (in ) Tj ET Q q 0 0 0 rg BT 381.98 706.25 Td (which ) Tj ET Q q 0 0 0 rg BT 409.36 706.25 Td (they ) Tj ET Q q 0 0 0 rg BT 429.52 706.25 Td (are ) Tj ET Q q 0 0 0 rg BT 444.66 706.25 Td (determined. ) Tj ET Q q 0 0 0 rg BT 495.08 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 497.81 706.25 Td (The ) Tj ET Q q 0 0 0 rg BT 516.30 706.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 550.34 706.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 79.12 694.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 96.59 694.25 Td (and ) Tj ET Q q 0 0 0 rg BT 112.93 694.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 130.40 694.25 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 176.19 694.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 214.19 694.25 Td (and ) Tj ET Q q 0 0 0 rg BT 230.54 694.25 Td (related ) Tj ET Q q 0 0 0 rg BT 259.65 694.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 295.44 694.25 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 343.97 694.25 Td (from ) Tj ET Q q 0 0 0 rg BT 365.32 694.25 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 406.65 694.25 Td (represents ) Tj ET Q q 0 0 0 rg BT 449.10 694.25 Td (the ) Tj ET Q q 0 0 0 rg BT 463.22 694.25 Td (most ) Tj ET Q q 0 0 0 rg BT 484.57 694.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 528.69 694.25 Td (estimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (in ) Tj ET Q q 0 0 0 rg BT 60.64 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 75.72 682.25 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 136.89 682.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 174.73 682.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 222.30 682.25 Td ( ) Tj ET Q q 0 0 0 rg BT 225.17 682.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 271.91 682.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 311.98 682.25 Td (in ) Tj ET Q q 0 0 0 rg BT 322.62 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 337.70 682.25 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 398.87 682.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 436.71 682.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 481.79 682.25 Td (also ) Tj ET Q q 0 0 0 rg BT 500.76 682.25 Td (include ) Tj ET Q q 0 0 0 rg BT 533.05 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 548.13 682.25 Td (fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (values ) Tj ET Q q 0 0 0 rg BT 77.05 670.25 Td (of ) Tj ET Q q 0 0 0 rg BT 86.88 670.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 136.15 670.25 Td (in ) Tj ET Q q 0 0 0 rg BT 145.43 670.25 Td (bonds, ) Tj ET Q q 0 0 0 rg BT 173.33 670.25 Td (deferred ) Tj ET Q q 0 0 0 rg BT 208.13 670.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 221.85 670.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 242.79 670.25 Td (valuation, ) Tj ET Q q 0 0 0 rg BT 284.01 670.25 Td (premium ) Tj ET Q q 0 0 0 rg BT 321.61 670.25 Td (receivable ) Tj ET Q q 0 0 0 rg BT 364.19 670.25 Td (bad ) Tj ET Q q 0 0 0 rg BT 380.13 670.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 398.85 670.25 Td (allowance ) Tj ET Q q 0 0 0 rg BT 440.88 670.25 Td (and ) Tj ET Q q 0 0 0 rg BT 456.82 670.25 Td (deferred ) Tj ET Q q 0 0 0 rg BT 491.63 670.25 Td (policy ) Tj ET Q q 0 0 0 rg BT 518.13 670.25 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 68.61 658.25 Td (recoverability) Tj ET Q q 0 0 0 rg BT 123.49 658.25 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 641.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 92.67 641.25 Td (instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.58 641.25 Td ( ) Tj ET Q q 0 0 0 rg BT 143.68 641.25 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.12 641.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 188.43 641.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 237.20 641.25 Td (are ) Tj ET Q q 0 0 0 rg BT 251.51 641.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 297.48 641.25 Td (and ) Tj ET Q q 0 0 0 rg BT 314.02 641.25 Td (derecognized ) Tj ET Q q 0 0 0 rg BT 369.42 641.25 Td (using ) Tj ET Q q 0 0 0 rg BT 393.20 641.25 Td (trade ) Tj ET Q q 0 0 0 rg BT 415.29 641.25 Td (date ) Tj ET Q q 0 0 0 rg BT 434.05 641.25 Td (accounting, ) Tj ET Q q 0 0 0 rg BT 482.52 641.25 Td (since ) Tj ET Q q 0 0 0 rg BT 505.17 641.25 Td (that ) Tj ET Q q 0 0 0 rg BT 522.27 641.25 Td (is ) Tj ET Q q 0 0 0 rg BT 531.04 641.25 Td (the ) Tj ET Q q 0 0 0 rg BT 545.36 641.25 Td (date ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.61 629.25 Td (contractually ) Tj ET Q q 0 0 0 rg BT 128.31 629.25 Td (commits ) Tj ET Q q 0 0 0 rg BT 165.25 629.25 Td (to ) Tj ET Q q 0 0 0 rg BT 175.53 629.25 Td (the ) Tj ET Q q 0 0 0 rg BT 190.24 629.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 228.28 629.25 Td (or ) Tj ET Q q 0 0 0 rg BT 239.11 629.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 257.16 629.25 Td (with ) Tj ET Q q 0 0 0 rg BT 277.44 629.25 Td (the ) Tj ET Q q 0 0 0 rg BT 292.15 629.25 Td (counterparty) Tj ET Q q 0 0 0 rg BT 342.04 629.25 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 612.25 Td (Ef) Tj ET Q q 0 0 0 rg BT 59.82 612.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 88.95 612.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 121.99 612.25 Td (method ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 155.04 612.25 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.85 612.25 Td ( ) Tj ET Q q 0 0 0 rg BT 162.79 612.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 186.39 612.25 Td (utilizes ) Tj ET Q q 0 0 0 rg BT 217.76 612.25 Td (the ) Tj ET Q q 0 0 0 rg BT 232.46 612.25 Td (ef) Tj ET Q q 0 0 0 rg BT 240.05 612.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 269.74 612.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 301.66 612.25 Td (method ) Tj ET Q q 0 0 0 rg BT 334.15 612.25 Td (for ) Tj ET Q q 0 0 0 rg BT 348.29 612.25 Td (calculating ) Tj ET Q q 0 0 0 rg BT 394.65 612.25 Td (the ) Tj ET Q q 0 0 0 rg BT 409.35 612.25 Td (amortized ) Tj ET Q q 0 0 0 rg BT 451.82 612.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 470.42 612.25 Td (of ) Tj ET Q q 0 0 0 rg BT 481.24 612.25 Td (a ) Tj ET Q q 0 0 0 rg BT 488.16 612.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 525.63 612.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 547.56 612.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 600.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.98 600.25 Td (allocate ) Tj ET Q q 0 0 0 rg BT 93.26 600.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 124.89 600.25 Td (income ) Tj ET Q q 0 0 0 rg BT 156.52 600.25 Td (or ) Tj ET Q q 0 0 0 rg BT 167.05 600.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 198.68 600.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 233.09 600.25 Td (over ) Tj ET Q q 0 0 0 rg BT 253.05 600.25 Td (the ) Tj ET Q q 0 0 0 rg BT 267.47 600.25 Td (relevant ) Tj ET Q q 0 0 0 rg BT 301.87 600.25 Td (period. ) Tj ET Q q 0 0 0 rg BT 331.95 600.25 Td (The ) Tj ET Q q 0 0 0 rg BT 349.69 600.25 Td (ef) Tj ET Q q 0 0 0 rg BT 357.28 600.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 386.68 600.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 418.31 600.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 435.50 600.25 Td (is ) Tj ET Q q 0 0 0 rg BT 444.36 600.25 Td (the ) Tj ET Q q 0 0 0 rg BT 458.78 600.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 475.96 600.25 Td (that ) Tj ET Q q 0 0 0 rg BT 493.15 600.25 Td (exactly ) Tj ET Q q 0 0 0 rg BT 524.22 600.25 Td (discounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 588.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.01 588.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 104.13 588.25 Td (future ) Tj ET Q q 0 0 0 rg BT 129.80 588.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 149.37 588.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 173.39 588.25 Td (through ) Tj ET Q q 0 0 0 rg BT 206.29 588.25 Td (the ) Tj ET Q q 0 0 0 rg BT 220.31 588.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 257.64 588.25 Td (life ) Tj ET Q q 0 0 0 rg BT 272.76 588.25 Td (of ) Tj ET Q q 0 0 0 rg BT 282.89 588.25 Td (the ) Tj ET Q q 0 0 0 rg BT 296.90 588.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 333.68 588.25 Td (instrument. ) Tj ET Q q 0 0 0 rg BT 380.75 588.25 Td (Interest ) Tj ET Q q 0 0 0 rg BT 412.53 588.25 Td (income ) Tj ET Q q 0 0 0 rg BT 443.76 588.25 Td (is ) Tj ET Q q 0 0 0 rg BT 452.23 588.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 487.34 588.25 Td (net ) Tj ET Q q 0 0 0 rg BT 501.35 588.25 Td (of ) Tj ET Q q 0 0 0 rg BT 511.48 588.25 Td (amortization ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 576.25 Td (of ) Tj ET Q q 0 0 0 rg BT 61.13 576.25 Td (premium ) Tj ET Q q 0 0 0 rg BT 100.04 576.25 Td (and ) Tj ET Q q 0 0 0 rg BT 117.28 576.25 Td (accretion ) Tj ET Q q 0 0 0 rg BT 156.72 576.25 Td (of ) Tj ET Q q 0 0 0 rg BT 167.85 576.25 Td (discount. ) Tj ET Q q 0 0 0 rg BT 207.04 576.25 Td (Realized ) Tj ET Q q 0 0 0 rg BT 244.82 576.25 Td (gains ) Tj ET Q q 0 0 0 rg BT 268.73 576.25 Td (and ) Tj ET Q q 0 0 0 rg BT 285.97 576.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 312.67 576.25 Td (on ) Tj ET Q q 0 0 0 rg BT 325.47 576.25 Td (disposition ) Tj ET Q q 0 0 0 rg BT 372.17 576.25 Td (of ) Tj ET Q q 0 0 0 rg BT 383.30 576.25 Td (available-for) Tj ET Q q 0 0 0 rg BT 434.18 576.25 Td (-sale ) Tj ET Q q 0 0 0 rg BT 455.86 576.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 496.42 576.25 Td (are ) Tj ET Q q 0 0 0 rg BT 511.43 576.25 Td (based ) Tj ET Q q 0 0 0 rg BT 537.00 576.25 Td (on ) Tj ET Q q 0 0 0 rg BT 549.80 576.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.25 Td (net ) Tj ET Q q 0 0 0 rg BT 64.72 564.25 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 102.75 564.25 Td (and ) Tj ET Q q 0 0 0 rg BT 119.69 564.25 Td (the ) Tj ET Q q 0 0 0 rg BT 134.41 564.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 170.23 564.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 188.84 564.25 Td (of ) Tj ET Q q 0 0 0 rg BT 199.67 564.25 Td (the ) Tj ET Q q 0 0 0 rg BT 214.39 564.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 254.65 564.25 Td (sold, ) Tj ET Q q 0 0 0 rg BT 276.32 564.25 Td (using ) Tj ET Q q 0 0 0 rg BT 300.49 564.25 Td (the ) Tj ET Q q 0 0 0 rg BT 315.21 564.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 348.80 564.25 Td (identification ) Tj ET Q q 0 0 0 rg BT 404.62 564.25 Td (method.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 547.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 94.87 547.25 Td (assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.76 547.25 Td ( ) Tj ET Q q 0 0 0 rg BT 123.07 547.25 Td (- ) Tj ET Q q 0 0 0 rg BT 129.75 547.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 155.16 547.25 Td (classifies ) Tj ET Q q 0 0 0 rg BT 196.12 547.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 235.40 547.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 263.04 547.25 Td (as ) Tj ET Q q 0 0 0 rg BT 275.67 547.25 Td (described ) Tj ET Q q 0 0 0 rg BT 318.29 547.25 Td (below) Tj ET Q q 0 0 0 rg BT 342.08 547.25 Td (. ) Tj ET Q q 0 0 0 rg BT 348.88 547.25 Td (Management ) Tj ET Q q 0 0 0 rg BT 405.39 547.25 Td (determines ) Tj ET Q q 0 0 0 rg BT 453.57 547.25 Td (the ) Tj ET Q q 0 0 0 rg BT 470.09 547.25 Td (classification ) Tj ET Q q 0 0 0 rg BT 527.15 547.25 Td (at ) Tj ET Q q 0 0 0 rg BT 538.67 547.25 Td (initial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.25 Td (recognition ) Tj ET Q q 0 0 0 rg BT 98.04 535.25 Td (based ) Tj ET Q q 0 0 0 rg BT 123.31 535.25 Td (on ) Tj ET Q q 0 0 0 rg BT 135.81 535.25 Td (the ) Tj ET Q q 0 0 0 rg BT 150.53 535.25 Td (purpose ) Tj ET Q q 0 0 0 rg BT 184.69 535.25 Td (of ) Tj ET Q q 0 0 0 rg BT 195.52 535.25 Td (the ) Tj ET Q q 0 0 0 rg BT 210.23 535.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 247.71 535.25 Td (asset.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 518.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 73.78 518.25 Td (and ) Tj ET Q q 0 0 0 rg BT 92.00 518.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 113.56 518.25 Td (equivalents ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 162.88 518.25 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.87 518.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 191.53 518.25 Td (and ) Tj ET Q q 0 0 0 rg BT 208.63 518.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 229.06 518.25 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 277.26 518.25 Td (include ) Tj ET Q q 0 0 0 rg BT 309.36 518.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 329.78 518.25 Td (and ) Tj ET Q q 0 0 0 rg BT 346.88 518.25 Td ( ) Tj ET Q q 0 0 0 rg BT 349.54 518.25 Td (highly ) Tj ET Q q 0 0 0 rg BT 377.76 518.25 Td (liquid ) Tj ET Q q 0 0 0 rg BT 403.75 518.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 444.18 518.25 Td (with ) Tj ET Q q 0 0 0 rg BT 464.62 518.25 Td (original ) Tj ET Q q 0 0 0 rg BT 498.38 518.25 Td (maturities ) Tj ET Q q 0 0 0 rg BT 541.03 518.25 Td (of ) Tj ET Q q 0 0 0 rg BT 552.02 518.25 Td (90 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 506.25 Td (days ) Tj ET Q q 0 0 0 rg BT 70.83 506.25 Td (or ) Tj ET Q q 0 0 0 rg BT 81.66 506.25 Td (less.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 489.25 Td (A) Tj ET Q q 0 0 0 rg BT 55.93 489.25 Td (vailable ) Tj ET Q q 0 0 0 rg BT 90.73 489.25 Td (for ) Tj ET Q q 0 0 0 rg BT 105.55 489.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 124.25 489.25 Td (\(AFS\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 159.81 489.25 Td ( ) Tj ET Q q 0 0 0 rg BT 162.41 489.25 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.33 489.25 Td (Investments ) Tj ET Q q 0 0 0 rg BT 219.25 489.25 Td (in ) Tj ET Q q 0 0 0 rg BT 229.62 489.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 252.77 489.25 Td (income ) Tj ET Q q 0 0 0 rg BT 284.79 489.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 325.15 489.25 Td (are ) Tj ET Q q 0 0 0 rg BT 339.95 489.25 Td (classified ) Tj ET Q q 0 0 0 rg BT 380.31 489.25 Td (as ) Tj ET Q q 0 0 0 rg BT 391.23 489.25 Td (available ) Tj ET Q q 0 0 0 rg BT 429.92 489.25 Td (for ) Tj ET Q q 0 0 0 rg BT 444.17 489.25 Td (sale. ) Tj ET Q q 0 0 0 rg BT 464.81 489.25 Td ( ) Tj ET Q q 0 0 0 rg BT 467.41 489.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 509.44 489.25 Td (are ) Tj ET Q q 0 0 0 rg BT 524.24 489.25 Td (classified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 477.25 Td (as ) Tj ET Q q 0 0 0 rg BT 60.20 477.25 Td (available-for) Tj ET Q q 0 0 0 rg BT 111.08 477.25 Td (-sale ) Tj ET Q q 0 0 0 rg BT 131.83 477.25 Td (when ) Tj ET Q q 0 0 0 rg BT 154.95 477.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 177.93 477.25 Td (may ) Tj ET Q q 0 0 0 rg BT 197.02 477.25 Td (decide ) Tj ET Q q 0 0 0 rg BT 224.99 477.25 Td (to ) Tj ET Q q 0 0 0 rg BT 234.64 477.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 250.40 477.25 Td (those ) Tj ET Q q 0 0 0 rg BT 273.38 477.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 313.01 477.25 Td (due ) Tj ET Q q 0 0 0 rg BT 329.33 477.25 Td (to ) Tj ET Q q 0 0 0 rg BT 338.98 477.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 373.06 477.25 Td (in ) Tj ET Q q 0 0 0 rg BT 382.71 477.25 Td (market ) Tj ET Q q 0 0 0 rg BT 412.34 477.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 443.65 477.25 Td (rates, ) Tj ET Q q 0 0 0 rg BT 466.90 477.25 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 502.66 477.25 Td (needs, ) Tj ET Q q 0 0 0 rg BT 529.80 477.25 Td (changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 465.25 Td (in ) Tj ET Q q 0 0 0 rg BT 60.53 465.25 Td (yields ) Tj ET Q q 0 0 0 rg BT 87.17 465.25 Td (or ) Tj ET Q q 0 0 0 rg BT 98.26 465.25 Td (alternative ) Tj ET Q q 0 0 0 rg BT 143.21 465.25 Td (investments, ) Tj ET Q q 0 0 0 rg BT 196.24 465.25 Td (and ) Tj ET Q q 0 0 0 rg BT 213.43 465.25 Td (for ) Tj ET Q q 0 0 0 rg BT 227.84 465.25 Td (other ) Tj ET Q q 0 0 0 rg BT 251.14 465.25 Td (reasons. ) Tj ET Q q 0 0 0 rg BT 285.78 465.25 Td (A) Tj ET Q q 0 0 0 rg BT 292.26 465.25 Td (vailable-for) Tj ET Q q 0 0 0 rg BT 338.70 465.25 Td (-sale ) Tj ET Q q 0 0 0 rg BT 360.33 465.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 400.85 465.25 Td (are ) Tj ET Q q 0 0 0 rg BT 415.81 465.25 Td (carried ) Tj ET Q q 0 0 0 rg BT 446.32 465.25 Td (at ) Tj ET Q q 0 0 0 rg BT 456.29 465.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 472.92 465.25 Td (value, ) Tj ET Q q 0 0 0 rg BT 499.83 465.25 Td (with ) Tj ET Q q 0 0 0 rg BT 520.36 465.25 Td (unrealized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 453.25 Td (gains ) Tj ET Q q 0 0 0 rg BT 74.53 453.25 Td (and ) Tj ET Q q 0 0 0 rg BT 92.39 453.25 Td (losses, ) Tj ET Q q 0 0 0 rg BT 122.21 453.25 Td (net ) Tj ET Q q 0 0 0 rg BT 137.85 453.25 Td (of ) Tj ET Q q 0 0 0 rg BT 149.60 453.25 Td (income ) Tj ET Q q 0 0 0 rg BT 182.46 453.25 Td (tax, ) Tj ET Q q 0 0 0 rg BT 200.60 453.25 Td (included ) Tj ET Q q 0 0 0 rg BT 238.45 453.25 Td (as ) Tj ET Q q 0 0 0 rg BT 250.21 453.25 Td (a ) Tj ET Q q 0 0 0 rg BT 258.07 453.25 Td (separate ) Tj ET Q q 0 0 0 rg BT 294.24 453.25 Td (component ) Tj ET Q q 0 0 0 rg BT 342.10 453.25 Td (of ) Tj ET Q q 0 0 0 rg BT 353.85 453.25 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 407.80 453.25 Td (other ) Tj ET Q q 0 0 0 rg BT 431.77 453.25 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 495.73 453.25 Td (income ) Tj ET Q q 0 0 0 rg BT 528.58 453.25 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 554.23 453.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 441.25 Td (shareholder) Tj ET Q q 0 0 0 rg BT 97.02 441.25 Td () Tj ET Q q 0 0 0 rg BT 99.79 441.25 Td (s ) Tj ET Q q 0 0 0 rg BT 106.19 441.25 Td (equity) Tj ET Q q 0 0 0 rg BT 130.53 441.25 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 101.41 424.25 Td (of ) Tj ET Q q 0 0 0 rg BT 112.24 424.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 151.98 424.25 Td (assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 175.87 424.25 Td ( ) Tj ET Q q 0 0 0 rg BT 178.38 424.25 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.22 424.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 207.84 424.25 Td (assesses, ) Tj ET Q q 0 0 0 rg BT 245.62 424.25 Td (on ) Tj ET Q q 0 0 0 rg BT 258.13 424.25 Td (a ) Tj ET Q q 0 0 0 rg BT 265.07 424.25 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 303.68 424.25 Td (basis, ) Tj ET Q q 0 0 0 rg BT 328.69 424.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 363.40 424.25 Td (there ) Tj ET Q q 0 0 0 rg BT 385.90 424.25 Td (is ) Tj ET Q q 0 0 0 rg BT 395.07 424.25 Td (evidence ) Tj ET Q q 0 0 0 rg BT 433.12 424.25 Td (that ) Tj ET Q q 0 0 0 rg BT 450.62 424.25 Td (a ) Tj ET Q q 0 0 0 rg BT 457.57 424.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 495.06 424.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 517.00 424.25 Td (or ) Tj ET Q q 0 0 0 rg BT 527.84 424.25 Td (group ) Tj ET Q q 0 0 0 rg BT 553.68 424.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.90 412.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 114.16 412.25 Td (is ) Tj ET Q q 0 0 0 rg BT 123.75 412.25 Td (impaired. ) Tj ET Q q 0 0 0 rg BT 164.07 412.25 Td (An ) Tj ET Q q 0 0 0 rg BT 179.22 412.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 226.02 412.25 Td (is ) Tj ET Q q 0 0 0 rg BT 235.62 412.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 281.86 412.25 Td (impaired ) Tj ET Q q 0 0 0 rg BT 320.32 412.25 Td (when ) Tj ET Q q 0 0 0 rg BT 344.91 412.25 Td (the ) Tj ET Q q 0 0 0 rg BT 360.05 412.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 376.85 412.25 Td (value ) Tj ET Q q 0 0 0 rg BT 401.43 412.25 Td (of ) Tj ET Q q 0 0 0 rg BT 412.68 412.25 Td (the ) Tj ET Q q 0 0 0 rg BT 427.82 412.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 474.63 412.25 Td (is ) Tj ET Q q 0 0 0 rg BT 484.22 412.25 Td (less ) Tj ET Q q 0 0 0 rg BT 502.14 412.25 Td (than ) Tj ET Q q 0 0 0 rg BT 522.29 412.25 Td (its ) Tj ET Q q 0 0 0 rg BT 534.66 412.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 553.69 412.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (amortized ) Tj ET Q q 0 0 0 rg BT 92.22 400.25 Td (cost. ) Tj ET Q q 0 0 0 rg BT 112.90 400.25 Td (When ) Tj ET Q q 0 0 0 rg BT 139.02 400.25 Td (an ) Tj ET Q q 0 0 0 rg BT 150.69 400.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 196.81 400.25 Td (is ) Tj ET Q q 0 0 0 rg BT 205.72 400.25 Td (impaired, ) Tj ET Q q 0 0 0 rg BT 246.00 400.25 Td (the ) Tj ET Q q 0 0 0 rg BT 260.46 400.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 301.58 400.25 Td (must ) Tj ET Q q 0 0 0 rg BT 323.27 400.25 Td (make ) Tj ET Q q 0 0 0 rg BT 347.16 400.25 Td (a ) Tj ET Q q 0 0 0 rg BT 353.83 400.25 Td (determination ) Tj ET Q q 0 0 0 rg BT 411.61 400.25 Td (as ) Tj ET Q q 0 0 0 rg BT 422.18 400.25 Td (to ) Tj ET Q q 0 0 0 rg BT 432.19 400.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 466.64 400.25 Td (the ) Tj ET Q q 0 0 0 rg BT 481.09 400.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 529.43 400.25 Td (is ) Tj ET Q q 0 0 0 rg BT 538.34 400.25 Td (other) Tj ET Q q 0 0 0 rg BT 558.68 400.25 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (than-temporary) Tj ET Q q 0 0 0 rg BT 110.99 388.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.25 Td (Under ) Tj ET Q q 0 0 0 rg BT 76.05 371.25 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 124.07 371.25 Td (Standards ) Tj ET Q q 0 0 0 rg BT 164.87 371.25 Td (Codification ) Tj ET Q q 0 0 0 rg BT 216.22 371.25 Td (\("ASC"\), ) Tj ET Q q 0 0 0 rg BT 254.36 371.25 Td (with ) Tj ET Q q 0 0 0 rg BT 273.50 371.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 303.18 371.25 Td (to ) Tj ET Q q 0 0 0 rg BT 312.32 371.25 Td (an ) Tj ET Q q 0 0 0 rg BT 323.12 371.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 368.37 371.25 Td (in ) Tj ET Q q 0 0 0 rg BT 377.51 371.25 Td (an ) Tj ET Q q 0 0 0 rg BT 388.31 371.25 Td (impaired ) Tj ET Q q 0 0 0 rg BT 425.21 371.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 443.79 371.25 Td (security) Tj ET Q q 0 0 0 rg BT 474.80 371.25 Td (, ) Tj ET Q q 0 0 0 rg BT 478.66 371.25 Td (other) Tj ET Q q 0 0 0 rg BT 499.01 371.25 Td (-than ) Tj ET Q q 0 0 0 rg BT 520.92 371.25 Td (temporary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 98.83 359.25 Td (\("OTTI"\) ) Tj ET Q q 0 0 0 rg BT 139.15 359.25 Td (occurs ) Tj ET Q q 0 0 0 rg BT 167.98 359.25 Td (if ) Tj ET Q q 0 0 0 rg BT 176.82 359.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 190.64 359.25 Td (there ) Tj ET Q q 0 0 0 rg BT 213.36 359.25 Td (is ) Tj ET Q q 0 0 0 rg BT 222.76 359.25 Td (intent ) Tj ET Q q 0 0 0 rg BT 248.26 359.25 Td (to ) Tj ET Q q 0 0 0 rg BT 258.77 359.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 275.39 359.25 Td (the ) Tj ET Q q 0 0 0 rg BT 290.33 359.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 310.28 359.25 Td (security) Tj ET Q q 0 0 0 rg BT 341.28 359.25 Td (, ) Tj ET Q q 0 0 0 rg BT 346.51 359.25 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 360.90 359.25 Td (it ) Tj ET Q q 0 0 0 rg BT 369.19 359.25 Td (is ) Tj ET Q q 0 0 0 rg BT 378.59 359.25 Td (more ) Tj ET Q q 0 0 0 rg BT 401.87 359.25 Td (likely ) Tj ET Q q 0 0 0 rg BT 427.37 359.25 Td (than ) Tj ET Q q 0 0 0 rg BT 447.31 359.25 Td (not ) Tj ET Q q 0 0 0 rg BT 462.82 359.25 Td (it ) Tj ET Q q 0 0 0 rg BT 471.11 359.25 Td (will ) Tj ET Q q 0 0 0 rg BT 489.39 359.25 Td (be ) Tj ET Q q 0 0 0 rg BT 501.56 359.25 Td (required ) Tj ET Q q 0 0 0 rg BT 537.61 359.25 Td (to ) Tj ET Q q 0 0 0 rg BT 548.12 359.25 Td (sell ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.69 347.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 84.39 347.25 Td (security ) Tj ET Q q 0 0 0 rg BT 118.52 347.25 Td (before ) Tj ET Q q 0 0 0 rg BT 146.54 347.25 Td (its ) Tj ET Q q 0 0 0 rg BT 158.46 347.25 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 204.81 347.25 Td (recovery) Tj ET Q q 0 0 0 rg BT 239.14 347.25 Td (, ) Tj ET Q q 0 0 0 rg BT 244.11 347.25 Td (or ) Tj ET Q q 0 0 0 rg BT 254.92 347.25 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 268.50 347.25 Td (it ) Tj ET Q q 0 0 0 rg BT 276.53 347.25 Td (is ) Tj ET Q q 0 0 0 rg BT 285.68 347.25 Td (probable ) Tj ET Q q 0 0 0 rg BT 323.14 347.25 Td (that ) Tj ET Q q 0 0 0 rg BT 340.62 347.25 Td (all ) Tj ET Q q 0 0 0 rg BT 353.09 347.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 389.46 347.25 Td (due ) Tj ET Q q 0 0 0 rg BT 406.37 347.25 Td (will ) Tj ET Q q 0 0 0 rg BT 424.41 347.25 Td (be ) Tj ET Q q 0 0 0 rg BT 436.32 347.25 Td (unable ) Tj ET Q q 0 0 0 rg BT 465.46 347.25 Td (to ) Tj ET Q q 0 0 0 rg BT 475.71 347.25 Td (be ) Tj ET Q q 0 0 0 rg BT 487.63 347.25 Td (collected ) Tj ET Q q 0 0 0 rg BT 526.20 347.25 Td (such ) Tj ET Q q 0 0 0 rg BT 547.00 347.25 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.68 335.25 Td (entire ) Tj ET Q q 0 0 0 rg BT 89.92 335.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 108.49 335.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 130.96 335.25 Td (of ) Tj ET Q q 0 0 0 rg BT 141.76 335.25 Td (the ) Tj ET Q q 0 0 0 rg BT 156.44 335.25 Td (security ) Tj ET Q q 0 0 0 rg BT 190.56 335.25 Td (will ) Tj ET Q q 0 0 0 rg BT 208.59 335.25 Td (not ) Tj ET Q q 0 0 0 rg BT 223.83 335.25 Td (be ) Tj ET Q q 0 0 0 rg BT 235.74 335.25 Td (recovered. ) Tj ET Q q 0 0 0 rg BT 280.12 335.25 Td (If ) Tj ET Q q 0 0 0 rg BT 288.70 335.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 312.28 335.25 Td (intends ) Tj ET Q q 0 0 0 rg BT 343.63 335.25 Td (to ) Tj ET Q q 0 0 0 rg BT 353.88 335.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 370.23 335.25 Td (the ) Tj ET Q q 0 0 0 rg BT 384.91 335.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 404.60 335.25 Td (security) Tj ET Q q 0 0 0 rg BT 435.60 335.25 Td (, ) Tj ET Q q 0 0 0 rg BT 440.57 335.25 Td (or ) Tj ET Q q 0 0 0 rg BT 451.37 335.25 Td (will ) Tj ET Q q 0 0 0 rg BT 469.39 335.25 Td (more ) Tj ET Q q 0 0 0 rg BT 492.41 335.25 Td (likely ) Tj ET Q q 0 0 0 rg BT 517.65 335.25 Td (than ) Tj ET Q q 0 0 0 rg BT 537.33 335.25 Td (not ) Tj ET Q q 0 0 0 rg BT 552.58 335.25 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.25 Td (required ) Tj ET Q q 0 0 0 rg BT 85.88 323.25 Td (to ) Tj ET Q q 0 0 0 rg BT 96.23 323.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 112.68 323.25 Td (the ) Tj ET Q q 0 0 0 rg BT 127.46 323.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 147.24 323.25 Td (security ) Tj ET Q q 0 0 0 rg BT 181.46 323.25 Td (before ) Tj ET Q q 0 0 0 rg BT 209.57 323.25 Td (the ) Tj ET Q q 0 0 0 rg BT 224.35 323.25 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 270.78 323.25 Td (recovery) Tj ET Q q 0 0 0 rg BT 305.11 323.25 Td (, ) Tj ET Q q 0 0 0 rg BT 310.18 323.25 Td (a ) Tj ET Q q 0 0 0 rg BT 317.18 323.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 335.31 323.25 Td (in ) Tj ET Q q 0 0 0 rg BT 345.65 323.25 Td (the ) Tj ET Q q 0 0 0 rg BT 360.43 323.25 Td (entire ) Tj ET Q q 0 0 0 rg BT 385.76 323.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 418.33 323.25 Td (of ) Tj ET Q q 0 0 0 rg BT 429.22 323.25 Td (the ) Tj ET Q q 0 0 0 rg BT 444.00 323.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 492.67 323.25 Td (is ) Tj ET Q q 0 0 0 rg BT 501.90 323.25 Td (reflected ) Tj ET Q q 0 0 0 rg BT 539.44 323.25 Td (in ) Tj ET Q q 0 0 0 rg BT 549.79 323.25 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 96.58 311.25 Td (gains ) Tj ET Q q 0 0 0 rg BT 120.39 311.25 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 153.64 311.25 Td (on ) Tj ET Q q 0 0 0 rg BT 166.34 311.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 216.82 311.25 Td (in ) Tj ET Q q 0 0 0 rg BT 227.29 311.25 Td (the ) Tj ET Q q 0 0 0 rg BT 242.21 311.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 295.45 311.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 340.37 311.25 Td (of ) Tj ET Q q 0 0 0 rg BT 351.40 311.25 Td (income. ) Tj ET Q q 0 0 0 rg BT 386.03 311.25 Td (If ) Tj ET Q q 0 0 0 rg BT 394.79 311.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 418.60 311.25 Td (determines ) Tj ET Q q 0 0 0 rg BT 465.18 311.25 Td (that ) Tj ET Q q 0 0 0 rg BT 482.87 311.25 Td (it ) Tj ET Q q 0 0 0 rg BT 491.13 311.25 Td (is ) Tj ET Q q 0 0 0 rg BT 500.50 311.25 Td (probable ) Tj ET Q q 0 0 0 rg BT 538.18 311.25 Td (it ) Tj ET Q q 0 0 0 rg BT 546.44 311.25 Td (will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.25 Td (be ) Tj ET Q q 0 0 0 rg BT 61.67 299.25 Td (unable ) Tj ET Q q 0 0 0 rg BT 90.56 299.25 Td (to ) Tj ET Q q 0 0 0 rg BT 100.57 299.25 Td (collect ) Tj ET Q q 0 0 0 rg BT 129.45 299.25 Td (all ) Tj ET Q q 0 0 0 rg BT 141.67 299.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 177.79 299.25 Td (and ) Tj ET Q q 0 0 0 rg BT 193.97 299.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 217.31 299.25 Td (has ) Tj ET Q q 0 0 0 rg BT 232.87 299.25 Td (no ) Tj ET Q q 0 0 0 rg BT 245.10 299.25 Td (intent ) Tj ET Q q 0 0 0 rg BT 270.11 299.25 Td (to ) Tj ET Q q 0 0 0 rg BT 280.12 299.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 296.24 299.25 Td (the ) Tj ET Q q 0 0 0 rg BT 310.68 299.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 330.13 299.25 Td (security) Tj ET Q q 0 0 0 rg BT 361.14 299.25 Td (, ) Tj ET Q q 0 0 0 rg BT 365.87 299.25 Td (a ) Tj ET Q q 0 0 0 rg BT 372.54 299.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 397.53 299.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 415.33 299.25 Td (is ) Tj ET Q q 0 0 0 rg BT 424.23 299.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 470.32 299.25 Td (in ) Tj ET Q q 0 0 0 rg BT 480.33 299.25 Td (net ) Tj ET Q q 0 0 0 rg BT 494.78 299.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 540.89 299.25 Td (gains ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.25 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 82.72 287.25 Td (on ) Tj ET Q q 0 0 0 rg BT 94.88 287.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 144.82 287.25 Td (in ) Tj ET Q q 0 0 0 rg BT 154.77 287.25 Td (the ) Tj ET Q q 0 0 0 rg BT 169.15 287.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 221.86 287.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 266.23 287.25 Td (of ) Tj ET Q q 0 0 0 rg BT 276.73 287.25 Td (income ) Tj ET Q q 0 0 0 rg BT 308.33 287.25 Td (to ) Tj ET Q q 0 0 0 rg BT 318.27 287.25 Td (the ) Tj ET Q q 0 0 0 rg BT 332.65 287.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 359.25 287.25 Td (that ) Tj ET Q q 0 0 0 rg BT 376.41 287.25 Td (the ) Tj ET Q q 0 0 0 rg BT 390.80 287.25 Td (present ) Tj ET Q q 0 0 0 rg BT 421.84 287.25 Td (value ) Tj ET Q q 0 0 0 rg BT 445.66 287.25 Td (of ) Tj ET Q q 0 0 0 rg BT 456.15 287.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 493.85 287.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 513.79 287.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 538.17 287.25 Td (is ) Tj ET Q q 0 0 0 rg BT 547.01 287.25 Td (less ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.25 Td (than ) Tj ET Q q 0 0 0 rg BT 69.09 275.25 Td (the ) Tj ET Q q 0 0 0 rg BT 83.19 275.25 Td (amortized ) Tj ET Q q 0 0 0 rg BT 125.04 275.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 143.03 275.25 Td (basis; ) Tj ET Q q 0 0 0 rg BT 167.68 275.25 Td (any ) Tj ET Q q 0 0 0 rg BT 184.00 275.25 Td (dif) Tj ET Q q 0 0 0 rg BT 194.93 275.25 Td (ference ) Tj ET Q q 0 0 0 rg BT 226.22 275.25 Td (between ) Tj ET Q q 0 0 0 rg BT 261.41 275.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 277.16 275.25 Td (value ) Tj ET Q q 0 0 0 rg BT 300.69 275.25 Td (and ) Tj ET Q q 0 0 0 rg BT 317.01 275.25 Td (the ) Tj ET Q q 0 0 0 rg BT 331.10 275.25 Td (new ) Tj ET Q q 0 0 0 rg BT 349.64 275.25 Td (amortized ) Tj ET Q q 0 0 0 rg BT 391.50 275.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 409.48 275.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 431.36 275.25 Td (\(net ) Tj ET Q q 0 0 0 rg BT 448.78 275.25 Td (of ) Tj ET Q q 0 0 0 rg BT 458.99 275.25 Td (the ) Tj ET Q q 0 0 0 rg BT 473.08 275.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 497.72 275.25 Td (loss\) ) Tj ET Q q 0 0 0 rg BT 518.49 275.25 Td (is ) Tj ET Q q 0 0 0 rg BT 527.03 275.25 Td (reflected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 263.25 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 263.25 Td (other ) Tj ET Q q 0 0 0 rg BT 83.33 263.25 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 146.36 263.25 Td (income ) Tj ET Q q 0 0 0 rg BT 178.29 263.25 Td (\(losses\), ) Tj ET Q q 0 0 0 rg BT 213.84 263.25 Td (net ) Tj ET Q q 0 0 0 rg BT 228.56 263.25 Td (of ) Tj ET Q q 0 0 0 rg BT 239.39 263.25 Td (applicable ) Tj ET Q q 0 0 0 rg BT 282.98 263.25 Td (income ) Tj ET Q q 0 0 0 rg BT 314.91 263.25 Td (taxes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.25 Td (For ) Tj ET Q q 0 0 0 rg BT 66.03 246.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 93.16 246.25 Td (securities, ) Tj ET Q q 0 0 0 rg BT 135.56 246.25 Td (the ) Tj ET Q q 0 0 0 rg BT 149.92 246.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 190.94 246.25 Td (evaluates ) Tj ET Q q 0 0 0 rg BT 230.28 246.25 Td (its ) Tj ET Q q 0 0 0 rg BT 241.87 246.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 269.56 246.25 Td (to ) Tj ET Q q 0 0 0 rg BT 279.47 246.25 Td (retain ) Tj ET Q q 0 0 0 rg BT 304.38 246.25 Td (its ) Tj ET Q q 0 0 0 rg BT 315.96 246.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 361.98 246.25 Td (in ) Tj ET Q q 0 0 0 rg BT 371.90 246.25 Td (the ) Tj ET Q q 0 0 0 rg BT 386.25 246.25 Td (issuer ) Tj ET Q q 0 0 0 rg BT 411.72 246.25 Td (for ) Tj ET Q q 0 0 0 rg BT 425.52 246.25 Td (a ) Tj ET Q q 0 0 0 rg BT 432.09 246.25 Td (period ) Tj ET Q q 0 0 0 rg BT 459.78 246.25 Td (of ) Tj ET Q q 0 0 0 rg BT 470.25 246.25 Td (time ) Tj ET Q q 0 0 0 rg BT 490.16 246.25 Td (suf) Tj ET Q q 0 0 0 rg BT 502.20 246.25 Td (ficient ) Tj ET Q q 0 0 0 rg BT 529.88 246.25 Td (to ) Tj ET Q q 0 0 0 rg BT 539.79 246.25 Td (allow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.25 Td (for ) Tj ET Q q 0 0 0 rg BT 63.64 234.25 Td (any ) Tj ET Q q 0 0 0 rg BT 80.06 234.25 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 125.90 234.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 162.86 234.25 Td (in ) Tj ET Q q 0 0 0 rg BT 172.61 234.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 188.47 234.25 Td (value. ) Tj ET Q q 0 0 0 rg BT 214.60 234.25 Td ( ) Tj ET Q q 0 0 0 rg BT 216.58 234.25 Td (Evidence ) Tj ET Q q 0 0 0 rg BT 255.77 234.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 301.06 234.25 Td (to ) Tj ET Q q 0 0 0 rg BT 310.82 234.25 Td (determine ) Tj ET Q q 0 0 0 rg BT 352.78 234.25 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 398.62 234.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 435.58 234.25 Td (are ) Tj ET Q q 0 0 0 rg BT 449.76 234.25 Td (analysts' ) Tj ET Q q 0 0 0 rg BT 485.76 234.25 Td (reports ) Tj ET Q q 0 0 0 rg BT 515.51 234.25 Td (on ) Tj ET Q q 0 0 0 rg BT 527.49 234.25 Td (the ) Tj ET Q q 0 0 0 rg BT 541.68 234.25 Td (near) Tj ET Q q 0 0 0 rg BT 558.69 234.25 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.25 Td (term ) Tj ET Q q 0 0 0 rg BT 71.31 222.25 Td (prospects ) Tj ET Q q 0 0 0 rg BT 112.06 222.25 Td (of ) Tj ET Q q 0 0 0 rg BT 123.37 222.25 Td (the ) Tj ET Q q 0 0 0 rg BT 138.57 222.25 Td (issuer ) Tj ET Q q 0 0 0 rg BT 164.89 222.25 Td (and ) Tj ET Q q 0 0 0 rg BT 182.31 222.25 Td (the ) Tj ET Q q 0 0 0 rg BT 197.51 222.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 235.47 222.25 Td (condition ) Tj ET Q q 0 0 0 rg BT 276.23 222.25 Td (of ) Tj ET Q q 0 0 0 rg BT 287.54 222.25 Td (the ) Tj ET Q q 0 0 0 rg BT 302.74 222.25 Td (issuer ) Tj ET Q q 0 0 0 rg BT 329.06 222.25 Td (or ) Tj ET Q q 0 0 0 rg BT 340.37 222.25 Td (the ) Tj ET Q q 0 0 0 rg BT 355.57 222.25 Td (industry) Tj ET Q q 0 0 0 rg BT 387.70 222.25 Td (, ) Tj ET Q q 0 0 0 rg BT 393.18 222.25 Td (in ) Tj ET Q q 0 0 0 rg BT 403.95 222.25 Td (addition ) Tj ET Q q 0 0 0 rg BT 439.70 222.25 Td (to ) Tj ET Q q 0 0 0 rg BT 450.46 222.25 Td (the ) Tj ET Q q 0 0 0 rg BT 465.66 222.25 Td (length ) Tj ET Q q 0 0 0 rg BT 493.64 222.25 Td (and ) Tj ET Q q 0 0 0 rg BT 511.06 222.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 538.48 222.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 222.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.25 Td (market ) Tj ET Q q 0 0 0 rg BT 80.26 210.25 Td (value ) Tj ET Q q 0 0 0 rg BT 104.42 210.25 Td (decline. ) Tj ET Q q 0 0 0 rg BT 138.29 210.25 Td ( ) Tj ET Q q 0 0 0 rg BT 140.79 210.25 Td (If ) Tj ET Q q 0 0 0 rg BT 149.95 210.25 Td (OTTI ) Tj ET Q q 0 0 0 rg BT 175.22 210.25 Td (is ) Tj ET Q q 0 0 0 rg BT 184.39 210.25 Td (identified, ) Tj ET Q q 0 0 0 rg BT 227.71 210.25 Td (the ) Tj ET Q q 0 0 0 rg BT 242.43 210.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 269.92 210.25 Td (security ) Tj ET Q q 0 0 0 rg BT 304.08 210.25 Td (is ) Tj ET Q q 0 0 0 rg BT 313.25 210.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 349.07 210.25 Td (to ) Tj ET Q q 0 0 0 rg BT 359.35 210.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 375.73 210.25 Td (value ) Tj ET Q q 0 0 0 rg BT 399.88 210.25 Td (through ) Tj ET Q q 0 0 0 rg BT 433.49 210.25 Td (a ) Tj ET Q q 0 0 0 rg BT 440.43 210.25 Td (char) Tj ET Q q 0 0 0 rg BT 457.46 210.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 469.39 210.25 Td (to ) Tj ET Q q 0 0 0 rg BT 479.67 210.25 Td (earnings. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 193.25 Td (Fair ) Tj ET Q q 0 0 0 rg BT 69.75 193.25 Td (values ) Tj ET Q q 0 0 0 rg BT 97.27 193.25 Td (of ) Tj ET Q q 0 0 0 rg BT 107.01 193.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 145.65 193.25 Td (instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.56 193.25 Td ( ) Tj ET Q q 0 0 0 rg BT 195.97 193.25 Td (- ) Tj ET Q q 0 0 0 rg BT 200.40 193.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 222.91 193.25 Td (has ) Tj ET Q q 0 0 0 rg BT 237.65 193.25 Td (used ) Tj ET Q q 0 0 0 rg BT 257.39 193.25 Td (the ) Tj ET Q q 0 0 0 rg BT 271.02 193.25 Td (following ) Tj ET Q q 0 0 0 rg BT 311.32 193.25 Td (methods ) Tj ET Q q 0 0 0 rg BT 346.62 193.25 Td (and ) Tj ET Q q 0 0 0 rg BT 362.46 193.25 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 413.32 193.25 Td (in ) Tj ET Q q 0 0 0 rg BT 422.51 193.25 Td (estimating ) Tj ET Q q 0 0 0 rg BT 465.58 193.25 Td (its ) Tj ET Q q 0 0 0 rg BT 476.44 193.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 491.73 193.25 Td (value ) Tj ET Q q 0 0 0 rg BT 514.79 193.25 Td (disclosures:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.25 Td (Fair ) Tj ET Q q 0 0 0 rg BT 67.90 176.25 Td (values ) Tj ET Q q 0 0 0 rg BT 95.24 176.25 Td (for ) Tj ET Q q 0 0 0 rg BT 108.69 176.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 158.25 176.25 Td (are ) Tj ET Q q 0 0 0 rg BT 172.25 176.25 Td (based ) Tj ET Q q 0 0 0 rg BT 196.81 176.25 Td (on ) Tj ET Q q 0 0 0 rg BT 208.60 176.25 Td (quoted ) Tj ET Q q 0 0 0 rg BT 237.61 176.25 Td (market ) Tj ET Q q 0 0 0 rg BT 267.16 176.25 Td (prices, ) Tj ET Q q 0 0 0 rg BT 295.33 176.25 Td (when ) Tj ET Q q 0 0 0 rg BT 318.78 176.25 Td (available. ) Tj ET Q q 0 0 0 rg BT 359.16 176.25 Td (If ) Tj ET Q q 0 0 0 rg BT 367.61 176.25 Td (quoted ) Tj ET Q q 0 0 0 rg BT 396.62 176.25 Td (market ) Tj ET Q q 0 0 0 rg BT 426.18 176.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 451.84 176.25 Td (are ) Tj ET Q q 0 0 0 rg BT 465.84 176.25 Td (not ) Tj ET Q q 0 0 0 rg BT 480.41 176.25 Td (available, ) Tj ET Q q 0 0 0 rg BT 520.79 176.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 536.46 176.25 Td (values ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.25 Td (are ) Tj ET Q q 0 0 0 rg BT 64.71 164.25 Td (based ) Tj ET Q q 0 0 0 rg BT 89.98 164.25 Td (on ) Tj ET Q q 0 0 0 rg BT 102.48 164.25 Td (quoted ) Tj ET Q q 0 0 0 rg BT 132.19 164.25 Td (market ) Tj ET Q q 0 0 0 rg BT 162.46 164.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 188.83 164.25 Td (of ) Tj ET Q q 0 0 0 rg BT 199.66 164.25 Td (comparable ) Tj ET Q q 0 0 0 rg BT 248.80 164.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 297.97 164.25 Td (or ) Tj ET Q q 0 0 0 rg BT 308.80 164.25 Td (values ) Tj ET Q q 0 0 0 rg BT 336.85 164.25 Td (obtained ) Tj ET Q q 0 0 0 rg BT 373.78 164.25 Td (from ) Tj ET Q q 0 0 0 rg BT 395.72 164.25 Td (independent ) Tj ET Q q 0 0 0 rg BT 447.09 164.25 Td (pricing ) Tj ET Q q 0 0 0 rg BT 477.92 164.25 Td (services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 147.25 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 75.87 147.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 99.38 147.25 Td (income ) Tj ET Q q 0 0 0 rg BT 131.77 147.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 169.73 147.25 Td (is ) Tj ET Q q 0 0 0 rg BT 179.36 147.25 Td (managed ) Tj ET Q q 0 0 0 rg BT 218.42 147.25 Td (by ) Tj ET Q q 0 0 0 rg BT 231.38 147.25 Td (a ) Tj ET Q q 0 0 0 rg BT 238.78 147.25 Td (SEC ) Tj ET Q q 0 0 0 rg BT 260.08 147.25 Td (registered ) Tj ET Q q 0 0 0 rg BT 302.47 147.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 349.31 147.25 Td (advisor ) Tj ET Q q 0 0 0 rg BT 381.71 147.25 Td (specializing ) Tj ET Q q 0 0 0 rg BT 432.43 147.25 Td (in ) Tj ET Q q 0 0 0 rg BT 443.17 147.25 Td (the ) Tj ET Q q 0 0 0 rg BT 458.35 147.25 Td (management ) Tj ET Q q 0 0 0 rg BT 512.40 147.25 Td (of ) Tj ET Q q 0 0 0 rg BT 523.69 147.25 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 135.25 Td (company ) Tj ET Q q 0 0 0 rg BT 89.23 135.25 Td (portfolios. ) Tj ET Q q 0 0 0 rg BT 133.19 135.25 Td ( ) Tj ET Q q 0 0 0 rg BT 135.76 135.25 Td (Management ) Tj ET Q q 0 0 0 rg BT 190.54 135.25 Td (works ) Tj ET Q q 0 0 0 rg BT 217.55 135.25 Td (directly ) Tj ET Q q 0 0 0 rg BT 250.67 135.25 Td (with ) Tj ET Q q 0 0 0 rg BT 271.02 135.25 Td (them ) Tj ET Q q 0 0 0 rg BT 293.59 135.25 Td (to ) Tj ET Q q 0 0 0 rg BT 303.94 135.25 Td (ensure ) Tj ET Q q 0 0 0 rg BT 332.61 135.25 Td (that ) Tj ET Q q 0 0 0 rg BT 349.61 135.25 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 373.29 135.25 Td (benefits ) Tj ET Q q 0 0 0 rg BT 407.52 135.25 Td (from ) Tj ET Q q 0 0 0 rg BT 429.53 135.25 Td (their ) Tj ET Q q 0 0 0 rg BT 450.43 135.25 Td (expertise ) Tj ET Q q 0 0 0 rg BT 489.10 135.25 Td (and ) Tj ET Q q 0 0 0 rg BT 506.11 135.25 Td (also ) Tj ET Q q 0 0 0 rg BT 524.79 135.25 Td (evaluates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 123.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 100.56 123.25 Td (as ) Tj ET Q q 0 0 0 rg BT 111.67 123.25 Td (well ) Tj ET Q q 0 0 0 rg BT 131.67 123.25 Td (as ) Tj ET Q q 0 0 0 rg BT 142.79 123.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 176.67 123.25 Td (positions ) Tj ET Q q 0 0 0 rg BT 215.57 123.25 Td (independently ) Tj ET Q q 0 0 0 rg BT 275.01 123.25 Td (using ) Tj ET Q q 0 0 0 rg BT 299.46 123.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 332.79 123.25 Td (resources. ) Tj ET Q q 0 0 0 rg BT 375.83 123.25 Td ( ) Tj ET Q q 0 0 0 rg BT 378.00 123.25 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 403.69 123.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 450.36 123.25 Td (advisor ) Tj ET Q q 0 0 0 rg BT 482.58 123.25 Td (has ) Tj ET Q q 0 0 0 rg BT 498.70 123.25 Td (a ) Tj ET Q q 0 0 0 rg BT 505.92 123.25 Td (team ) Tj ET Q q 0 0 0 rg BT 528.14 123.25 Td (of ) Tj ET Q q 0 0 0 rg BT 539.26 123.25 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 111.25 Td (analysts ) Tj ET Q q 0 0 0 rg BT 84.23 111.25 Td (for ) Tj ET Q q 0 0 0 rg BT 97.89 111.25 Td (all ) Tj ET Q q 0 0 0 rg BT 109.90 111.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 155.79 111.25 Td (grade ) Tj ET Q q 0 0 0 rg BT 180.00 111.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 202.56 111.25 Td (income ) Tj ET Q q 0 0 0 rg BT 234.00 111.25 Td (sectors. ) Tj ET Q q 0 0 0 rg BT 266.28 111.25 Td ( ) Tj ET Q q 0 0 0 rg BT 268.14 111.25 Td (The ) Tj ET Q q 0 0 0 rg BT 285.69 111.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 331.58 111.25 Td (process ) Tj ET Q q 0 0 0 rg BT 363.58 111.25 Td (begins ) Tj ET Q q 0 0 0 rg BT 391.70 111.25 Td (with ) Tj ET Q q 0 0 0 rg BT 411.49 111.25 Td (an ) Tj ET Q q 0 0 0 rg BT 422.93 111.25 Td (independent ) Tj ET Q q 0 0 0 rg BT 473.81 111.25 Td (analyst ) Tj ET Q q 0 0 0 rg BT 504.15 111.25 Td (review ) Tj ET Q q 0 0 0 rg BT 533.36 111.25 Td (of ) Tj ET Q q 0 0 0 rg BT 543.70 111.25 Td (each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 99.25 Td (security's ) Tj ET Q q 0 0 0 rg BT 89.80 99.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 115.01 99.25 Td (worthiness ) Tj ET Q q 0 0 0 rg BT 160.79 99.25 Td (using ) Tj ET Q q 0 0 0 rg BT 184.90 99.25 Td (both ) Tj ET Q q 0 0 0 rg BT 205.13 99.25 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 254.78 99.25 Td (tools ) Tj ET Q q 0 0 0 rg BT 276.68 99.25 Td (and ) Tj ET Q q 0 0 0 rg BT 293.57 99.25 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 338.22 99.25 Td (review) Tj ET Q q 0 0 0 rg BT 364.78 99.25 Td (. ) Tj ET Q q 0 0 0 rg BT 369.73 99.25 Td ( ) Tj ET Q q 0 0 0 rg BT 371.63 99.25 Td (At ) Tj ET Q q 0 0 0 rg BT 384.08 99.25 Td (the ) Tj ET Q q 0 0 0 rg BT 398.75 99.25 Td (issuer ) Tj ET Q q 0 0 0 rg BT 424.52 99.25 Td (level, ) Tj ET Q q 0 0 0 rg BT 448.91 99.25 Td (this ) Tj ET Q q 0 0 0 rg BT 465.80 99.25 Td (includes ) Tj ET Q q 0 0 0 rg BT 501.57 99.25 Td (reviews ) Tj ET Q q 0 0 0 rg BT 535.12 99.25 Td (of ) Tj ET Q q 0 0 0 rg BT 545.90 99.25 Td (past ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 87.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 88.10 87.25 Td (data, ) Tj ET Q q 0 0 0 rg BT 110.38 87.25 Td (trends ) Tj ET Q q 0 0 0 rg BT 137.94 87.25 Td (in ) Tj ET Q q 0 0 0 rg BT 148.84 87.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 186.94 87.25 Td (stability) Tj ET Q q 0 0 0 rg BT 218.51 87.25 Td (, ) Tj ET Q q 0 0 0 rg BT 224.13 87.25 Td (projections ) Tj ET Q q 0 0 0 rg BT 271.69 87.25 Td (for ) Tj ET Q q 0 0 0 rg BT 286.47 87.25 Td (the ) Tj ET Q q 0 0 0 rg BT 301.81 87.25 Td (future, ) Tj ET Q q 0 0 0 rg BT 331.31 87.25 Td (reliability ) Tj ET Q q 0 0 0 rg BT 373.31 87.25 Td (of ) Tj ET Q q 0 0 0 rg BT 384.76 87.25 Td (the ) Tj ET Q q 0 0 0 rg BT 400.10 87.25 Td (management ) Tj ET Q q 0 0 0 rg BT 454.31 87.25 Td (team ) Tj ET Q q 0 0 0 rg BT 476.86 87.25 Td (in ) Tj ET Q q 0 0 0 rg BT 487.76 87.25 Td (place, ) Tj ET Q q 0 0 0 rg BT 514.48 87.25 Td (market ) Tj ET Q q 0 0 0 rg BT 545.36 87.25 Td (data ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 75.25 Td (\(credit ) Tj ET Q q 0 0 0 rg BT 78.24 75.25 Td (spread, ) Tj ET Q q 0 0 0 rg BT 108.98 75.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 136.12 75.25 Td (prices, ) Tj ET Q q 0 0 0 rg BT 164.64 75.25 Td (trends ) Tj ET Q q 0 0 0 rg BT 191.23 75.25 Td (in ) Tj ET Q q 0 0 0 rg BT 201.15 75.25 Td (this ) Tj ET Q q 0 0 0 rg BT 217.74 75.25 Td (data ) Tj ET Q q 0 0 0 rg BT 236.54 75.25 Td (for ) Tj ET Q q 0 0 0 rg BT 250.35 75.25 Td (the ) Tj ET Q q 0 0 0 rg BT 264.71 75.25 Td (issuer ) Tj ET Q q 0 0 0 rg BT 290.19 75.25 Td (and ) Tj ET Q q 0 0 0 rg BT 306.77 75.25 Td (the ) Tj ET Q q 0 0 0 rg BT 321.13 75.25 Td (issuer's ) Tj ET Q q 0 0 0 rg BT 352.30 75.25 Td (industry\). ) Tj ET Q q 0 0 0 rg BT 393.05 75.25 Td ( ) Tj ET Q q 0 0 0 rg BT 395.20 75.25 Td (Reviews ) Tj ET Q q 0 0 0 rg BT 431.78 75.25 Td (also ) Tj ET Q q 0 0 0 rg BT 450.04 75.25 Td (consider ) Tj ET Q q 0 0 0 rg BT 486.06 75.25 Td (industry ) Tj ET Q q 0 0 0 rg BT 520.98 75.25 Td (trends ) Tj ET Q q 0 0 0 rg BT 547.56 75.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 63.25 Td (the ) Tj ET Q q 0 0 0 rg BT 66.19 63.25 Td (macro-economic ) Tj ET Q q 0 0 0 rg BT 137.35 63.25 Td (environment. ) Tj ET Q q 0 0 0 rg BT 194.37 63.25 Td ( ) Tj ET Q q 0 0 0 rg BT 198.05 63.25 Td (This ) Tj ET Q q 0 0 0 rg BT 219.80 63.25 Td (analysis ) Tj ET Q q 0 0 0 rg BT 255.99 63.25 Td (is ) Tj ET Q q 0 0 0 rg BT 266.64 63.25 Td (continuous, ) Tj ET Q q 0 0 0 rg BT 317.00 63.25 Td (integrating ) Tj ET Q q 0 0 0 rg BT 364.29 63.25 Td (new ) Tj ET Q q 0 0 0 rg BT 384.92 63.25 Td (information ) Tj ET Q q 0 0 0 rg BT 436.11 63.25 Td (as ) Tj ET Q q 0 0 0 rg BT 448.41 63.25 Td (it ) Tj ET Q q 0 0 0 rg BT 457.94 63.25 Td (becomes ) Tj ET Q q 0 0 0 rg BT 496.90 63.25 Td (available. ) Tj ET Q q 0 0 0 rg BT 538.58 63.25 Td (As ) Tj ET Q q 0 0 0 rg BT 553.67 63.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 51.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.88 51.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.88 51.25 Td (, ) Tj ET Q q 0 0 0 rg BT 134.18 51.25 Td (this ) Tj ET Q q 0 0 0 rg BT 151.43 51.25 Td (process ) Tj ET Q q 0 0 0 rg BT 184.21 51.25 Td (did ) Tj ET Q q 0 0 0 rg BT 199.79 51.25 Td (not ) Tj ET Q q 0 0 0 rg BT 215.37 51.25 Td (generate ) Tj ET Q q 0 0 0 rg BT 252.03 51.25 Td (any ) Tj ET Q q 0 0 0 rg BT 269.26 51.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 314.27 51.25 Td (dif) Tj ET Q q 0 0 0 rg BT 325.20 51.25 Td (ference ) Tj ET Q q 0 0 0 rg BT 357.41 51.25 Td (in ) Tj ET Q q 0 0 0 rg BT 367.99 51.25 Td (the ) Tj ET Q q 0 0 0 rg BT 383.00 51.25 Td (rating ) Tj ET Q q 0 0 0 rg BT 409.13 51.25 Td (assessment ) Tj ET Q q 0 0 0 rg BT 456.36 51.25 Td (between ) Tj ET Q q 0 0 0 rg BT 491.86 51.25 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 517.57 51.25 Td (review ) Tj ET Q q 0 0 0 rg BT 547.57 51.25 Td (and ) Tj ET Q endstream endobj 123 0 obj <> endobj 124 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.28 742.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 89.67 742.10 Td (agencies. ) Tj ET Q q 0 0 0 rg BT 128.66 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 130.57 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 148.19 742.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 189.14 742.10 Td (recognizes ) Tj ET Q q 0 0 0 rg BT 233.96 742.10 Td (transfers ) Tj ET Q q 0 0 0 rg BT 270.45 742.10 Td (between ) Tj ET Q q 0 0 0 rg BT 305.83 742.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 331.22 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 341.61 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.89 742.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 371.83 742.10 Td (value ) Tj ET Q q 0 0 0 rg BT 395.55 742.10 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 435.37 742.10 Td (at ) Tj ET Q q 0 0 0 rg BT 444.65 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 458.94 742.10 Td (end ) Tj ET Q q 0 0 0 rg BT 475.44 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 485.83 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 500.11 742.10 Td (period ) Tj ET Q q 0 0 0 rg BT 527.73 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 537.57 742.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (events ) Tj ET Q q 0 0 0 rg BT 78.05 730.10 Td (occur ) Tj ET Q q 0 0 0 rg BT 102.75 730.10 Td (impacting ) Tj ET Q q 0 0 0 rg BT 145.24 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 159.96 730.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 207.45 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 218.28 730.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 245.22 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 255.50 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 270.22 730.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 286.60 730.10 Td (value ) Tj ET Q q 0 0 0 rg BT 310.75 730.10 Td (methodology) Tj ET Q q 0 0 0 rg BT 362.88 730.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 713.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.48 713.10 Td (employs ) Tj ET Q q 0 0 0 rg BT 109.73 713.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 143.19 713.10 Td (control ) Tj ET Q q 0 0 0 rg BT 173.89 713.10 Td (processes ) Tj ET Q q 0 0 0 rg BT 214.58 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 224.72 713.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 267.07 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 281.66 713.10 Td (reasonableness ) Tj ET Q q 0 0 0 rg BT 344.00 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 354.70 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 369.28 713.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 385.53 713.10 Td (value ) Tj ET Q q 0 0 0 rg BT 409.55 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 420.25 713.10 Td (its ) Tj ET Q q 0 0 0 rg BT 432.07 713.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 469.41 713.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 497.44 713.10 Td (These ) Tj ET Q q 0 0 0 rg BT 523.69 713.10 Td (processes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 701.10 Td (are ) Tj ET Q q 0 0 0 rg BT 63.71 701.10 Td (designed ) Tj ET Q q 0 0 0 rg BT 100.75 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 110.03 701.10 Td (supplement ) Tj ET Q q 0 0 0 rg BT 157.64 701.10 Td (those ) Tj ET Q q 0 0 0 rg BT 180.25 701.10 Td (performed ) Tj ET Q q 0 0 0 rg BT 223.39 701.10 Td (by ) Tj ET Q q 0 0 0 rg BT 234.56 701.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 258.97 701.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 304.35 701.10 Td (advisor ) Tj ET Q q 0 0 0 rg BT 335.29 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 344.57 701.10 Td (ensure ) Tj ET Q q 0 0 0 rg BT 372.17 701.10 Td (that ) Tj ET Q q 0 0 0 rg BT 388.67 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 402.38 701.10 Td (values ) Tj ET Q q 0 0 0 rg BT 429.43 701.10 Td (received ) Tj ET Q q 0 0 0 rg BT 464.79 701.10 Td (from ) Tj ET Q q 0 0 0 rg BT 485.73 701.10 Td (them ) Tj ET Q q 0 0 0 rg BT 507.23 701.10 Td (are ) Tj ET Q q 0 0 0 rg BT 520.94 701.10 Td (accurately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 689.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 86.45 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 102.37 689.10 Td (that ) Tj ET Q q 0 0 0 rg BT 118.84 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.54 689.10 Td (data ) Tj ET Q q 0 0 0 rg BT 150.67 689.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 176.60 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 192.52 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 206.21 689.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 244.90 689.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 289.15 689.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 320.61 689.10 Td (are ) Tj ET Q q 0 0 0 rg BT 334.30 689.10 Td (appropriate, ) Tj ET Q q 0 0 0 rg BT 383.81 689.10 Td (consistently ) Tj ET Q q 0 0 0 rg BT 433.06 689.10 Td (applied, ) Tj ET Q q 0 0 0 rg BT 466.47 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 482.39 689.10 Td (that ) Tj ET Q q 0 0 0 rg BT 498.87 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 512.56 689.10 Td (assumptions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 677.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.61 677.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 109.78 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 126.62 677.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 169.02 677.10 Td (with ) Tj ET Q q 0 0 0 rg BT 189.21 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 203.83 677.10 Td (objective ) Tj ET Q q 0 0 0 rg BT 242.89 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 253.63 677.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 304.36 677.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 320.64 677.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 347.20 677.10 Td (For ) Tj ET Q q 0 0 0 rg BT 363.50 677.10 Td (example, ) Tj ET Q q 0 0 0 rg BT 402.28 677.10 Td (on ) Tj ET Q q 0 0 0 rg BT 414.69 677.10 Td (a ) Tj ET Q q 0 0 0 rg BT 421.53 677.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 466.71 677.10 Td (basis, ) Tj ET Q q 0 0 0 rg BT 491.09 677.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 514.61 677.10 Td (assesses ) Tj ET Q q 0 0 0 rg BT 549.79 677.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 665.10 Td (reasonableness ) Tj ET Q q 0 0 0 rg BT 112.49 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 123.33 665.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 166.40 665.10 Td (security ) Tj ET Q q 0 0 0 rg BT 200.57 665.10 Td (values ) Tj ET Q q 0 0 0 rg BT 228.63 665.10 Td (which ) Tj ET Q q 0 0 0 rg BT 255.59 665.10 Td (have ) Tj ET Q q 0 0 0 rg BT 276.98 665.10 Td (stale ) Tj ET Q q 0 0 0 rg BT 297.82 665.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 324.21 665.10 Td (or ) Tj ET Q q 0 0 0 rg BT 335.05 665.10 Td (whose ) Tj ET Q q 0 0 0 rg BT 363.12 665.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 397.84 665.10 Td (exceed ) Tj ET Q q 0 0 0 rg BT 428.11 665.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 457.83 665.10 Td (thresholds ) Tj ET Q q 0 0 0 rg BT 501.45 665.10 Td (as ) Tj ET Q q 0 0 0 rg BT 512.29 665.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 554.23 665.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 653.10 Td (previous ) Tj ET Q q 0 0 0 rg BT 86.77 653.10 Td (values ) Tj ET Q q 0 0 0 rg BT 114.65 653.10 Td (received ) Tj ET Q q 0 0 0 rg BT 150.85 653.10 Td (from ) Tj ET Q q 0 0 0 rg BT 172.10 653.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 197.35 653.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 243.56 653.10 Td (advisor ) Tj ET Q q 0 0 0 rg BT 275.33 653.10 Td (or ) Tj ET Q q 0 0 0 rg BT 286.00 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 296.11 653.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 333.97 653.10 Td (prices. ) Tj ET Q q 0 0 0 rg BT 362.51 653.10 Td (The ) Tj ET Q q 0 0 0 rg BT 380.39 653.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 417.72 653.10 Td (is ) Tj ET Q q 0 0 0 rg BT 426.72 653.10 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 465.70 653.10 Td (routinely ) Tj ET Q q 0 0 0 rg BT 504.14 653.10 Td (for ) Tj ET Q q 0 0 0 rg BT 518.13 653.10 Td (transaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.10 Td (volumes, ) Tj ET Q q 0 0 0 rg BT 88.04 641.10 Td (new ) Tj ET Q q 0 0 0 rg BT 106.35 641.10 Td (issuances, ) Tj ET Q q 0 0 0 rg BT 148.27 641.10 Td (any ) Tj ET Q q 0 0 0 rg BT 164.36 641.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 198.22 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 207.65 641.10 Td (spreads, ) Tj ET Q q 0 0 0 rg BT 241.79 641.10 Td (as ) Tj ET Q q 0 0 0 rg BT 251.77 641.10 Td (well ) Tj ET Q q 0 0 0 rg BT 270.64 641.10 Td (as ) Tj ET Q q 0 0 0 rg BT 280.63 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 294.49 641.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 323.91 641.10 Td (movement ) Tj ET Q q 0 0 0 rg BT 367.77 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 377.75 641.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 408.84 641.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 429.37 641.10 Td (along ) Tj ET Q q 0 0 0 rg BT 453.24 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.11 641.10 Td (yield ) Tj ET Q q 0 0 0 rg BT 488.75 641.10 Td (curve ) Tj ET Q q 0 0 0 rg BT 512.61 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 522.04 641.10 Td (determine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.10 Td (if ) Tj ET Q q 0 0 0 rg BT 59.01 629.10 Td (suf) Tj ET Q q 0 0 0 rg BT 71.05 629.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 99.50 629.10 Td (activity ) Tj ET Q q 0 0 0 rg BT 132.40 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 149.74 629.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 186.54 629.10 Td (exists ) Tj ET Q q 0 0 0 rg BT 212.22 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 222.91 629.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 256.36 629.10 Td (a ) Tj ET Q q 0 0 0 rg BT 263.70 629.10 Td (credible ) Tj ET Q q 0 0 0 rg BT 298.81 629.10 Td (source ) Tj ET Q q 0 0 0 rg BT 327.81 629.10 Td (for ) Tj ET Q q 0 0 0 rg BT 342.38 629.10 Td (market ) Tj ET Q q 0 0 0 rg BT 373.05 629.10 Td (valuations. ) Tj ET Q q 0 0 0 rg BT 419.35 629.10 Td (When ) Tj ET Q q 0 0 0 rg BT 446.13 629.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 462.91 629.10 Td (value ) Tj ET Q q 0 0 0 rg BT 487.47 629.10 Td (determinations ) Tj ET Q q 0 0 0 rg BT 549.80 629.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 617.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 87.68 617.10 Td (to ) Tj ET Q q 0 0 0 rg BT 97.62 617.10 Td (be ) Tj ET Q q 0 0 0 rg BT 109.21 617.10 Td (more ) Tj ET Q q 0 0 0 rg BT 131.91 617.10 Td (variable, ) Tj ET Q q 0 0 0 rg BT 168.76 617.10 Td (they ) Tj ET Q q 0 0 0 rg BT 188.13 617.10 Td (are ) Tj ET Q q 0 0 0 rg BT 202.49 617.10 Td (validated ) Tj ET Q q 0 0 0 rg BT 241.29 617.10 Td (through ) Tj ET Q q 0 0 0 rg BT 274.55 617.10 Td (reviews ) Tj ET Q q 0 0 0 rg BT 307.80 617.10 Td (by ) Tj ET Q q 0 0 0 rg BT 319.96 617.10 Td (members ) Tj ET Q q 0 0 0 rg BT 358.76 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 369.25 617.10 Td (management ) Tj ET Q q 0 0 0 rg BT 422.49 617.10 Td (or ) Tj ET Q q 0 0 0 rg BT 432.97 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 447.34 617.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 473.93 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 484.41 617.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 523.77 617.10 Td (who ) Tj ET Q q 0 0 0 rg BT 543.14 617.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 605.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 84.70 605.10 Td (expertise ) Tj ET Q q 0 0 0 rg BT 123.30 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 140.23 605.10 Td (who ) Tj ET Q q 0 0 0 rg BT 159.96 605.10 Td (are ) Tj ET Q q 0 0 0 rg BT 174.66 605.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 226.04 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 236.87 605.10 Td (those ) Tj ET Q q 0 0 0 rg BT 260.47 605.10 Td (char) Tj ET Q q 0 0 0 rg BT 277.50 605.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 294.44 605.10 Td (with ) Tj ET Q q 0 0 0 rg BT 314.72 605.10 Td (executing ) Tj ET Q q 0 0 0 rg BT 356.09 605.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 402.47 605.10 Td (transactions.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 588.10 Td (Accounts ) Tj ET Q q 0 0 0 rg BT 92.00 588.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 137.30 588.10 Td (and ) Tj ET Q q 0 0 0 rg BT 156.53 588.10 Td (other ) Tj ET Q q 0 0 0 rg BT 181.86 588.10 Td (assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.75 588.10 Td ( ) Tj ET Q q 0 0 0 rg BT 209.41 588.10 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.40 588.10 Td (Accounts ) Tj ET Q q 0 0 0 rg BT 257.83 588.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 302.57 588.10 Td (include ) Tj ET Q q 0 0 0 rg BT 335.67 588.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 375.43 588.10 Td (balances ) Tj ET Q q 0 0 0 rg BT 413.51 588.10 Td (due ) Tj ET Q q 0 0 0 rg BT 431.61 588.10 Td (and ) Tj ET Q q 0 0 0 rg BT 449.71 588.10 Td (uncollected ) Tj ET Q q 0 0 0 rg BT 499.46 588.10 Td (and ) Tj ET Q q 0 0 0 rg BT 517.56 588.10 Td (installment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 576.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 92.50 576.10 Td (not ) Tj ET Q q 0 0 0 rg BT 107.77 576.10 Td (yet ) Tj ET Q q 0 0 0 rg BT 122.49 576.10 Td (due ) Tj ET Q q 0 0 0 rg BT 139.43 576.10 Td (from ) Tj ET Q q 0 0 0 rg BT 161.37 576.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 189.41 576.10 Td (and ) Tj ET Q q 0 0 0 rg BT 206.35 576.10 Td (insureds. ) Tj ET Q q 0 0 0 rg BT 244.68 576.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.75 559.10 Td (evaluates ) Tj ET Q q 0 0 0 rg BT 113.59 559.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.45 559.10 Td (collectibility ) Tj ET Q q 0 0 0 rg BT 181.64 559.10 Td (of ) Tj ET Q q 0 0 0 rg BT 192.61 559.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 230.23 559.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 273.96 559.10 Td (based ) Tj ET Q q 0 0 0 rg BT 299.37 559.10 Td (on ) Tj ET Q q 0 0 0 rg BT 312.01 559.10 Td (a ) Tj ET Q q 0 0 0 rg BT 319.09 559.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 371.72 559.10 Td (of ) Tj ET Q q 0 0 0 rg BT 382.69 559.10 Td (factors. ) Tj ET Q q 0 0 0 rg BT 414.85 559.10 Td (When ) Tj ET Q q 0 0 0 rg BT 441.37 559.10 Td (aware ) Tj ET Q q 0 0 0 rg BT 467.88 559.10 Td (of ) Tj ET Q q 0 0 0 rg BT 478.85 559.10 Td (a ) Tj ET Q q 0 0 0 rg BT 485.93 559.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 519.66 559.10 Td (customer's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (inability ) Tj ET Q q 0 0 0 rg BT 85.78 547.10 Td (to ) Tj ET Q q 0 0 0 rg BT 96.00 547.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 117.89 547.10 Td (its ) Tj ET Q q 0 0 0 rg BT 129.78 547.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 167.21 547.10 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 216.60 547.10 Td (such ) Tj ET Q q 0 0 0 rg BT 237.38 547.10 Td (as ) Tj ET Q q 0 0 0 rg BT 248.16 547.10 Td (in ) Tj ET Q q 0 0 0 rg BT 258.38 547.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.05 547.10 Td (case ) Tj ET Q q 0 0 0 rg BT 292.70 547.10 Td (of ) Tj ET Q q 0 0 0 rg BT 303.48 547.10 Td (bankruptcy ) Tj ET Q q 0 0 0 rg BT 350.91 547.10 Td (or ) Tj ET Q q 0 0 0 rg BT 361.69 547.10 Td (deterioration ) Tj ET Q q 0 0 0 rg BT 415.23 547.10 Td (in ) Tj ET Q q 0 0 0 rg BT 425.45 547.10 Td (the ) Tj ET Q q 0 0 0 rg BT 440.12 547.10 Td (customer's ) Tj ET Q q 0 0 0 rg BT 484.91 547.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 525.13 547.10 Td (results ) Tj ET Q q 0 0 0 rg BT 553.68 547.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.93 535.10 Td (position, ) Tj ET Q q 0 0 0 rg BT 124.95 535.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 149.01 535.10 Td (records ) Tj ET Q q 0 0 0 rg BT 181.39 535.10 Td (a ) Tj ET Q q 0 0 0 rg BT 188.77 535.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 222.81 535.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 254.63 535.10 Td (for ) Tj ET Q q 0 0 0 rg BT 269.24 535.10 Td (bad ) Tj ET Q q 0 0 0 rg BT 286.63 535.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 306.79 535.10 Td (to ) Tj ET Q q 0 0 0 rg BT 317.52 535.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 347.11 535.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.28 535.10 Td (related ) Tj ET Q q 0 0 0 rg BT 392.43 535.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 436.45 535.10 Td (to ) Tj ET Q q 0 0 0 rg BT 447.18 535.10 Td (the ) Tj ET Q q 0 0 0 rg BT 462.35 535.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 494.64 535.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 518.69 535.10 Td (reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 85.17 523.10 Td (is ) Tj ET Q q 0 0 0 rg BT 94.24 523.10 Td (collectible. ) Tj ET Q q 0 0 0 rg BT 140.26 523.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 163.78 523.10 Td (also ) Tj ET Q q 0 0 0 rg BT 182.29 523.10 Td (records ) Tj ET Q q 0 0 0 rg BT 214.12 523.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 249.29 523.10 Td (for ) Tj ET Q q 0 0 0 rg BT 263.35 523.10 Td (bad ) Tj ET Q q 0 0 0 rg BT 280.19 523.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 299.82 523.10 Td (for ) Tj ET Q q 0 0 0 rg BT 313.88 523.10 Td (all ) Tj ET Q q 0 0 0 rg BT 326.28 523.10 Td (other ) Tj ET Q q 0 0 0 rg BT 349.23 523.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 392.18 523.10 Td (based ) Tj ET Q q 0 0 0 rg BT 417.36 523.10 Td (on ) Tj ET Q q 0 0 0 rg BT 429.76 523.10 Td (a ) Tj ET Q q 0 0 0 rg BT 436.61 523.10 Td (variety ) Tj ET Q q 0 0 0 rg BT 466.77 523.10 Td (of ) Tj ET Q q 0 0 0 rg BT 477.51 523.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 509.62 523.10 Td (including ) Tj ET Q q 0 0 0 rg BT 549.80 523.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.10 Td (length ) Tj ET Q q 0 0 0 rg BT 77.55 511.10 Td (of ) Tj ET Q q 0 0 0 rg BT 88.44 511.10 Td (time ) Tj ET Q q 0 0 0 rg BT 108.77 511.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.55 511.10 Td (receivables ) Tj ET Q q 0 0 0 rg BT 171.07 511.10 Td (are ) Tj ET Q q 0 0 0 rg BT 185.84 511.10 Td (past ) Tj ET Q q 0 0 0 rg BT 204.50 511.10 Td (due ) Tj ET Q q 0 0 0 rg BT 221.50 511.10 Td (and ) Tj ET Q q 0 0 0 rg BT 238.50 511.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 278.27 511.10 Td (collection ) Tj ET Q q 0 0 0 rg BT 320.25 511.10 Td (experience. ) Tj ET Q q 0 0 0 rg BT 368.05 511.10 Td (Accounts ) Tj ET Q q 0 0 0 rg BT 408.37 511.10 Td (are ) Tj ET Q q 0 0 0 rg BT 423.14 511.10 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 462.34 511.10 Td (for ) Tj ET Q q 0 0 0 rg BT 476.56 511.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 514.11 511.10 Td (write-of) Tj ET Q q 0 0 0 rg BT 546.13 511.10 Td (f ) Tj ET Q q 0 0 0 rg BT 552.02 511.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.22 499.10 Td (case-by-case ) Tj ET Q q 0 0 0 rg BT 109.08 499.10 Td (basis. ) Tj ET Q q 0 0 0 rg BT 132.97 499.10 Td (Accounts ) Tj ET Q q 0 0 0 rg BT 172.52 499.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 205.40 499.10 Td (uncollectible ) Tj ET Q q 0 0 0 rg BT 258.83 499.10 Td (are ) Tj ET Q q 0 0 0 rg BT 272.82 499.10 Td (written ) Tj ET Q q 0 0 0 rg BT 302.93 499.10 Td (of) Tj ET Q q 0 0 0 rg BT 311.08 499.10 Td (f, ) Tj ET Q q 0 0 0 rg BT 318.69 499.10 Td (net ) Tj ET Q q 0 0 0 rg BT 332.69 499.10 Td (of ) Tj ET Q q 0 0 0 rg BT 342.81 499.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 380.12 499.10 Td (recoveries. ) Tj ET Q q 0 0 0 rg BT 425.49 499.10 Td (If ) Tj ET Q q 0 0 0 rg BT 433.93 499.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 492.36 499.10 Td (related ) Tj ET Q q 0 0 0 rg BT 521.34 499.10 Td (to ) Tj ET Q q 0 0 0 rg BT 530.91 499.10 Td (specific ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 93.05 487.10 Td (change, ) Tj ET Q q 0 0 0 rg BT 126.36 487.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 166.07 487.10 Td (of ) Tj ET Q q 0 0 0 rg BT 176.90 487.10 Td (the ) Tj ET Q q 0 0 0 rg BT 191.62 487.10 Td (recoverability ) Tj ET Q q 0 0 0 rg BT 249.65 487.10 Td (of ) Tj ET Q q 0 0 0 rg BT 260.48 487.10 Td (receivables ) Tj ET Q q 0 0 0 rg BT 307.95 487.10 Td (could ) Tj ET Q q 0 0 0 rg BT 332.67 487.10 Td (be ) Tj ET Q q 0 0 0 rg BT 344.60 487.10 Td (further ) Tj ET Q q 0 0 0 rg BT 374.31 487.10 Td (adjusted. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 470.10 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 88.83 470.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 115.45 470.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 163.20 470.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 185.39 470.10 Td (\("DP) Tj ET Q q 0 0 0 rg BT 206.86 470.10 Td (AC"\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.26 470.10 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.78 470.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 260.07 470.10 Td (defers ) Tj ET Q q 0 0 0 rg BT 286.68 470.10 Td (producers) Tj ET Q q 0 0 0 rg BT 328.70 470.10 Td ( ) Tj ET Q q 0 0 0 rg BT 330.88 470.10 Td (commissions, ) Tj ET Q q 0 0 0 rg BT 387.79 470.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 426.08 470.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 448.81 470.10 Td (and ) Tj ET Q q 0 0 0 rg BT 465.43 470.10 Td (other ) Tj ET Q q 0 0 0 rg BT 488.17 470.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 542.00 470.10 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 458.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 83.16 458.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 116.32 458.10 Td (to ) Tj ET Q q 0 0 0 rg BT 126.71 458.10 Td (the ) Tj ET Q q 0 0 0 rg BT 141.55 458.10 Td (successful ) Tj ET Q q 0 0 0 rg BT 185.26 458.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 231.76 458.10 Td (of ) Tj ET Q q 0 0 0 rg BT 242.71 458.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 285.32 458.10 Td (written ) Tj ET Q q 0 0 0 rg BT 316.26 458.10 Td (to ) Tj ET Q q 0 0 0 rg BT 326.66 458.10 Td (the ) Tj ET Q q 0 0 0 rg BT 341.49 458.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 368.54 458.10 Td (they ) Tj ET Q q 0 0 0 rg BT 388.38 458.10 Td (are ) Tj ET Q q 0 0 0 rg BT 403.20 458.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 449.14 458.10 Td (recoverable. ) Tj ET Q q 0 0 0 rg BT 500.69 458.10 Td (These ) Tj ET Q q 0 0 0 rg BT 527.19 458.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 549.81 458.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 446.10 Td (then ) Tj ET Q q 0 0 0 rg BT 69.12 446.10 Td (expensed ) Tj ET Q q 0 0 0 rg BT 108.23 446.10 Td (as ) Tj ET Q q 0 0 0 rg BT 118.46 446.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.58 446.10 Td (related ) Tj ET Q q 0 0 0 rg BT 161.69 446.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 203.59 446.10 Td (are ) Tj ET Q q 0 0 0 rg BT 217.70 446.10 Td (earned. ) Tj ET Q q 0 0 0 rg BT 248.61 446.10 Td (The ) Tj ET Q q 0 0 0 rg BT 266.06 446.10 Td (method ) Tj ET Q q 0 0 0 rg BT 297.96 446.10 Td (followed ) Tj ET Q q 0 0 0 rg BT 335.41 446.10 Td (in ) Tj ET Q q 0 0 0 rg BT 345.09 446.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 395.31 446.10 Td (the ) Tj ET Q q 0 0 0 rg BT 409.43 446.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 444.64 446.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 471.54 446.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 517.33 446.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 539.23 446.10 Td (limits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 434.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.41 434.10 Td (deferral ) Tj ET Q q 0 0 0 rg BT 97.69 434.10 Td (to ) Tj ET Q q 0 0 0 rg BT 107.66 434.10 Td (its ) Tj ET Q q 0 0 0 rg BT 119.30 434.10 Td (realizable ) Tj ET Q q 0 0 0 rg BT 160.35 434.10 Td (value ) Tj ET Q q 0 0 0 rg BT 184.19 434.10 Td (by ) Tj ET Q q 0 0 0 rg BT 196.39 434.10 Td (giving ) Tj ET Q q 0 0 0 rg BT 224.14 434.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 280.20 434.10 Td (to ) Tj ET Q q 0 0 0 rg BT 290.17 434.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 330.68 434.10 Td (future ) Tj ET Q q 0 0 0 rg BT 356.75 434.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 385.05 434.10 Td (and ) Tj ET Q q 0 0 0 rg BT 401.68 434.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 439.97 434.10 Td (to ) Tj ET Q q 0 0 0 rg BT 449.94 434.10 Td (be ) Tj ET Q q 0 0 0 rg BT 461.57 434.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 497.08 434.10 Td (as ) Tj ET Q q 0 0 0 rg BT 507.60 434.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 549.79 434.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 422.10 Td (earned. ) Tj ET Q q 0 0 0 rg BT 81.52 422.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 118.34 422.10 Td (in ) Tj ET Q q 0 0 0 rg BT 128.50 422.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 170.59 422.10 Td (if ) Tj ET Q q 0 0 0 rg BT 179.07 422.10 Td (any) Tj ET Q q 0 0 0 rg BT 192.86 422.10 Td (, ) Tj ET Q q 0 0 0 rg BT 197.74 422.10 Td (are ) Tj ET Q q 0 0 0 rg BT 212.32 422.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 249.68 422.10 Td (in ) Tj ET Q q 0 0 0 rg BT 259.83 422.10 Td (the ) Tj ET Q q 0 0 0 rg BT 274.43 422.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 320.68 422.10 Td (period ) Tj ET Q q 0 0 0 rg BT 348.60 422.10 Td (in ) Tj ET Q q 0 0 0 rg BT 358.76 422.10 Td (which ) Tj ET Q q 0 0 0 rg BT 385.58 422.10 Td (they ) Tj ET Q q 0 0 0 rg BT 405.17 422.10 Td (are ) Tj ET Q q 0 0 0 rg BT 419.76 422.10 Td (determined. ) Tj ET Q q 0 0 0 rg BT 469.09 422.10 Td (Anticipated ) Tj ET Q q 0 0 0 rg BT 518.12 422.10 Td (investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.10 Td (income ) Tj ET Q q 0 0 0 rg BT 81.91 410.10 Td (is ) Tj ET Q q 0 0 0 rg BT 91.05 410.10 Td (included ) Tj ET Q q 0 0 0 rg BT 127.96 410.10 Td (in ) Tj ET Q q 0 0 0 rg BT 138.22 410.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 189.01 410.10 Td (the ) Tj ET Q q 0 0 0 rg BT 203.71 410.10 Td (realizable ) Tj ET Q q 0 0 0 rg BT 245.04 410.10 Td (value ) Tj ET Q q 0 0 0 rg BT 269.17 410.10 Td (of ) Tj ET Q q 0 0 0 rg BT 279.98 410.10 Td (the ) Tj ET Q q 0 0 0 rg BT 294.67 410.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 330.45 410.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 357.92 410.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 404.28 410.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 428.71 410.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 452.40 410.10 Td ( ) Tj ET Q q 0 0 0 rg BT 454.88 410.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 490.66 410.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 518.13 410.10 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 72.50 398.10 Td (are ) Tj ET Q q 0 0 0 rg BT 87.21 398.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 123.02 398.10 Td (net ) Tj ET Q q 0 0 0 rg BT 137.74 398.10 Td (of ) Tj ET Q q 0 0 0 rg BT 148.57 398.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 184.38 398.10 Td (ceding ) Tj ET Q q 0 0 0 rg BT 213.53 398.10 Td (commissions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 381.10 Td (When ) Tj ET Q q 0 0 0 rg BT 76.25 381.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 122.50 381.10 Td (losses, ) Tj ET Q q 0 0 0 rg BT 151.26 381.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 169.20 381.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 215.46 381.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 256.43 381.10 Td (commissions ) Tj ET Q q 0 0 0 rg BT 311.03 381.10 Td (and ) Tj ET Q q 0 0 0 rg BT 327.85 381.10 Td (other ) Tj ET Q q 0 0 0 rg BT 350.77 381.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 397.03 381.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 419.40 381.10 Td (exceed ) Tj ET Q q 0 0 0 rg BT 449.53 381.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 486.88 381.10 Td (unearned ) Tj ET Q q 0 0 0 rg BT 525.90 381.10 Td (premium ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 369.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.23 369.10 Td (any ) Tj ET Q q 0 0 0 rg BT 84.46 369.10 Td (future ) Tj ET Q q 0 0 0 rg BT 111.13 369.10 Td (installment ) Tj ET Q q 0 0 0 rg BT 158.36 369.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 201.15 369.10 Td (on ) Tj ET Q q 0 0 0 rg BT 213.94 369.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 248.40 369.10 Td (policies, ) Tj ET Q q 0 0 0 rg BT 284.79 369.10 Td (a ) Tj ET Q q 0 0 0 rg BT 292.02 369.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 330.92 369.10 Td (deficiency ) Tj ET Q q 0 0 0 rg BT 375.35 369.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 407.01 369.10 Td (is ) Tj ET Q q 0 0 0 rg BT 416.47 369.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 463.13 369.10 Td (by ) Tj ET Q q 0 0 0 rg BT 475.92 369.10 Td (recording ) Tj ET Q q 0 0 0 rg BT 517.03 369.10 Td (a ) Tj ET Q q 0 0 0 rg BT 524.26 369.10 Td (reduction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 357.10 Td (to ) Tj ET Q q 0 0 0 rg BT 61.38 357.10 Td (DP) Tj ET Q q 0 0 0 rg BT 73.25 357.10 Td (AC ) Tj ET Q q 0 0 0 rg BT 90.74 357.10 Td (with ) Tj ET Q q 0 0 0 rg BT 112.12 357.10 Td (a ) Tj ET Q q 0 0 0 rg BT 120.17 357.10 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 180.98 357.10 Td (char) Tj ET Q q 0 0 0 rg BT 198.00 357.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 211.04 357.10 Td (to ) Tj ET Q q 0 0 0 rg BT 222.43 357.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 269.39 357.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 294.10 357.10 Td (utilizes ) Tj ET Q q 0 0 0 rg BT 326.59 357.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 374.06 357.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 421.54 357.10 Td (income ) Tj ET Q q 0 0 0 rg BT 454.58 357.10 Td (as ) Tj ET Q q 0 0 0 rg BT 466.51 357.10 Td (a ) Tj ET Q q 0 0 0 rg BT 474.56 357.10 Td (factor ) Tj ET Q q 0 0 0 rg BT 501.48 357.10 Td (in ) Tj ET Q q 0 0 0 rg BT 512.86 357.10 Td (its ) Tj ET Q q 0 0 0 rg BT 525.91 357.10 Td (premium ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 345.10 Td (deficiency ) Tj ET Q q 0 0 0 rg BT 95.25 345.10 Td (calculation. ) Tj ET Q q 0 0 0 rg BT 144.43 345.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 169.14 345.10 Td (concluded ) Tj ET Q q 0 0 0 rg BT 213.84 345.10 Td (that ) Tj ET Q q 0 0 0 rg BT 232.45 345.10 Td (no ) Tj ET Q q 0 0 0 rg BT 246.05 345.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 285.76 345.10 Td (deficiency ) Tj ET Q q 0 0 0 rg BT 331.01 345.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 382.39 345.10 Td (were ) Tj ET Q q 0 0 0 rg BT 405.43 345.10 Td (necessary ) Tj ET Q q 0 0 0 rg BT 447.90 345.10 Td (in ) Tj ET Q q 0 0 0 rg BT 459.29 345.10 Td (either ) Tj ET Q q 0 0 0 rg BT 485.66 345.10 Td (of ) Tj ET Q q 0 0 0 rg BT 497.60 345.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.42 345.10 Td (years ) Tj ET Q q 0 0 0 rg BT 538.13 345.10 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.01 345.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 333.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.58 333.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 333.10 Td ( ) Tj ET Q q 0 0 0 rg BT 131.08 333.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.02 333.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 206.61 333.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.61 333.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 83.37 316.10 Td (taxes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 104.47 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 106.73 316.10 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.32 316.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 144.56 316.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 167.37 316.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 201.83 316.10 Td (\(benefit\) ) Tj ET Q q 0 0 0 rg BT 238.51 316.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 274.09 316.10 Td (all ) Tj ET Q q 0 0 0 rg BT 286.35 316.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 309.15 316.10 Td (based ) Tj ET Q q 0 0 0 rg BT 334.18 316.10 Td (on ) Tj ET Q q 0 0 0 rg BT 346.43 316.10 Td (taxable ) Tj ET Q q 0 0 0 rg BT 377.56 316.10 Td (income ) Tj ET Q q 0 0 0 rg BT 409.25 316.10 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 433.73 316.10 Td (of ) Tj ET Q q 0 0 0 rg BT 443.82 316.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 467.19 316.10 Td (and ) Tj ET Q q 0 0 0 rg BT 483.88 316.10 Td (its ) Tj ET Q q 0 0 0 rg BT 495.59 316.10 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 547.56 316.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (are ) Tj ET Q q 0 0 0 rg BT 65.22 304.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 112.09 304.10 Td (in ) Tj ET Q q 0 0 0 rg BT 122.88 304.10 Td (the ) Tj ET Q q 0 0 0 rg BT 138.11 304.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 179.44 304.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.79 304.10 Td (income ) Tj ET Q q 0 0 0 rg BT 223.23 304.10 Td (and ) Tj ET Q q 0 0 0 rg BT 240.68 304.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 304.22 304.10 Td (income ) Tj ET Q q 0 0 0 rg BT 336.67 304.10 Td (except ) Tj ET Q q 0 0 0 rg BT 365.78 304.10 Td (to ) Tj ET Q q 0 0 0 rg BT 376.57 304.10 Td (the ) Tj ET Q q 0 0 0 rg BT 391.79 304.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 419.24 304.10 Td (that ) Tj ET Q q 0 0 0 rg BT 437.25 304.10 Td (they ) Tj ET Q q 0 0 0 rg BT 457.47 304.10 Td (relate ) Tj ET Q q 0 0 0 rg BT 482.69 304.10 Td (to ) Tj ET Q q 0 0 0 rg BT 493.48 304.10 Td (items ) Tj ET Q q 0 0 0 rg BT 518.16 304.10 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 83.04 292.10 Td (in ) Tj ET Q q 0 0 0 rg BT 93.32 292.10 Td (other ) Tj ET Q q 0 0 0 rg BT 116.37 292.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 179.40 292.10 Td (income, ) Tj ET Q q 0 0 0 rg BT 213.83 292.10 Td (in ) Tj ET Q q 0 0 0 rg BT 224.11 292.10 Td (which ) Tj ET Q q 0 0 0 rg BT 251.05 292.10 Td (case ) Tj ET Q q 0 0 0 rg BT 270.76 292.10 Td (the ) Tj ET Q q 0 0 0 rg BT 285.47 292.10 Td (income ) Tj ET Q q 0 0 0 rg BT 317.41 292.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 332.12 292.10 Td (ef) Tj ET Q q 0 0 0 rg BT 339.71 292.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 357.20 292.10 Td (is ) Tj ET Q q 0 0 0 rg BT 366.37 292.10 Td (also ) Tj ET Q q 0 0 0 rg BT 384.98 292.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 431.34 292.10 Td (in ) Tj ET Q q 0 0 0 rg BT 441.62 292.10 Td (other ) Tj ET Q q 0 0 0 rg BT 464.66 292.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 527.70 292.10 Td (income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.10 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 87.71 275.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 110.43 275.10 Td (are ) Tj ET Q q 0 0 0 rg BT 124.82 275.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 170.86 275.10 Td (using ) Tj ET Q q 0 0 0 rg BT 194.71 275.10 Td (the ) Tj ET Q q 0 0 0 rg BT 209.11 275.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 230.72 275.10 Td (and ) Tj ET Q q 0 0 0 rg BT 247.34 275.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 280.63 275.10 Td (method ) Tj ET Q q 0 0 0 rg BT 312.80 275.10 Td (of ) Tj ET Q q 0 0 0 rg BT 323.31 275.10 Td (accounting. ) Tj ET Q q 0 0 0 rg BT 371.86 275.10 Td ( ) Tj ET Q q 0 0 0 rg BT 374.04 275.10 Td ( ) Tj ET Q q 0 0 0 rg BT 376.22 275.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 403.39 275.10 Td (this ) Tj ET Q q 0 0 0 rg BT 420.02 275.10 Td (method ) Tj ET Q q 0 0 0 rg BT 452.19 275.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.59 275.10 Td (future ) Tj ET Q q 0 0 0 rg BT 492.65 275.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 507.04 275.10 Td (consequences ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 263.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 97.90 263.10 Td (to ) Tj ET Q q 0 0 0 rg BT 108.04 263.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 151.49 263.10 Td (dif) Tj ET Q q 0 0 0 rg BT 162.42 263.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 198.09 263.10 Td (in ) Tj ET Q q 0 0 0 rg BT 208.23 263.10 Td (the ) Tj ET Q q 0 0 0 rg BT 222.80 263.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 237.38 263.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 259.74 263.10 Td (of ) Tj ET Q q 0 0 0 rg BT 270.43 263.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 298.62 263.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 338.20 263.10 Td (and ) Tj ET Q q 0 0 0 rg BT 355.00 263.10 Td (items ) Tj ET Q q 0 0 0 rg BT 379.03 263.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 425.25 263.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 458.15 263.10 Td (in ) Tj ET Q q 0 0 0 rg BT 468.29 263.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 495.65 263.10 Td (and ) Tj ET Q q 0 0 0 rg BT 512.45 263.10 Td (the ) Tj ET Q q 0 0 0 rg BT 527.02 263.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 251.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 88.92 251.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 111.18 251.10 Td (of ) Tj ET Q q 0 0 0 rg BT 121.78 251.10 Td (such ) Tj ET Q q 0 0 0 rg BT 142.37 251.10 Td (items ) Tj ET Q q 0 0 0 rg BT 166.30 251.10 Td (are ) Tj ET Q q 0 0 0 rg BT 180.78 251.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 226.90 251.10 Td (in ) Tj ET Q q 0 0 0 rg BT 236.95 251.10 Td (the ) Tj ET Q q 0 0 0 rg BT 251.43 251.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 288.67 251.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 333.15 251.10 Td (by ) Tj ET Q q 0 0 0 rg BT 345.41 251.10 Td (recording ) Tj ET Q q 0 0 0 rg BT 385.99 251.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 421.56 251.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 436.04 251.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 475.53 251.10 Td (or ) Tj ET Q q 0 0 0 rg BT 486.12 251.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 521.69 251.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 536.17 251.10 Td (assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.10 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 87.88 234.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 102.45 234.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 128.13 234.10 Td (are ) Tj ET Q q 0 0 0 rg BT 142.70 234.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 188.91 234.10 Td (only ) Tj ET Q q 0 0 0 rg BT 209.04 234.10 Td (to ) Tj ET Q q 0 0 0 rg BT 219.17 234.10 Td (the ) Tj ET Q q 0 0 0 rg BT 233.75 234.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 260.53 234.10 Td (that ) Tj ET Q q 0 0 0 rg BT 277.88 234.10 Td (it ) Tj ET Q q 0 0 0 rg BT 285.79 234.10 Td (is ) Tj ET Q q 0 0 0 rg BT 294.81 234.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 332.15 234.10 Td (that ) Tj ET Q q 0 0 0 rg BT 349.50 234.10 Td (future ) Tj ET Q q 0 0 0 rg BT 375.73 234.10 Td (taxable ) Tj ET Q q 0 0 0 rg BT 406.96 234.10 Td (income ) Tj ET Q q 0 0 0 rg BT 438.75 234.10 Td (will ) Tj ET Q q 0 0 0 rg BT 456.66 234.10 Td (be ) Tj ET Q q 0 0 0 rg BT 468.45 234.10 Td (available ) Tj ET Q q 0 0 0 rg BT 506.89 234.10 Td (against ) Tj ET Q q 0 0 0 rg BT 537.57 234.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.10 Td (they ) Tj ET Q q 0 0 0 rg BT 69.64 222.10 Td (can ) Tj ET Q q 0 0 0 rg BT 85.94 222.10 Td (be ) Tj ET Q q 0 0 0 rg BT 97.79 222.10 Td (utilized. ) Tj ET Q q 0 0 0 rg BT 132.71 222.10 Td ( ) Tj ET Q q 0 0 0 rg BT 135.13 222.10 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 173.08 222.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 187.71 222.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 213.46 222.10 Td (and ) Tj ET Q q 0 0 0 rg BT 230.32 222.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 269.96 222.10 Td (are ) Tj ET Q q 0 0 0 rg BT 284.59 222.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 325.33 222.10 Td (using ) Tj ET Q q 0 0 0 rg BT 349.42 222.10 Td (enacted ) Tj ET Q q 0 0 0 rg BT 382.37 222.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 397.01 222.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 418.30 222.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 456.26 222.10 Td (to ) Tj ET Q q 0 0 0 rg BT 466.46 222.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 491.09 222.10 Td (to ) Tj ET Q q 0 0 0 rg BT 501.29 222.10 Td (taxable ) Tj ET Q q 0 0 0 rg BT 532.59 222.10 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.10 Td (in ) Tj ET Q q 0 0 0 rg BT 61.07 210.10 Td (the ) Tj ET Q q 0 0 0 rg BT 76.59 210.10 Td (years ) Tj ET Q q 0 0 0 rg BT 100.98 210.10 Td (in ) Tj ET Q q 0 0 0 rg BT 112.06 210.10 Td (which ) Tj ET Q q 0 0 0 rg BT 139.79 210.10 Td (those ) Tj ET Q q 0 0 0 rg BT 164.19 210.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 208.58 210.10 Td (dif) Tj ET Q q 0 0 0 rg BT 219.51 210.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 256.11 210.10 Td (are ) Tj ET Q q 0 0 0 rg BT 271.62 210.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 310.44 210.10 Td (to ) Tj ET Q q 0 0 0 rg BT 321.52 210.10 Td (be ) Tj ET Q q 0 0 0 rg BT 334.25 210.10 Td (recovered ) Tj ET Q q 0 0 0 rg BT 376.96 210.10 Td (or ) Tj ET Q q 0 0 0 rg BT 388.59 210.10 Td (settled. ) Tj ET Q q 0 0 0 rg BT 420.25 210.10 Td (The ) Tj ET Q q 0 0 0 rg BT 439.09 210.10 Td (ef) Tj ET Q q 0 0 0 rg BT 446.68 210.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 464.96 210.10 Td (on ) Tj ET Q q 0 0 0 rg BT 478.26 210.10 Td (future ) Tj ET Q q 0 0 0 rg BT 505.43 210.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 520.94 210.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 547.57 210.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 89.72 198.10 Td (of ) Tj ET Q q 0 0 0 rg BT 100.55 198.10 Td (a ) Tj ET Q q 0 0 0 rg BT 107.49 198.10 Td (change ) Tj ET Q q 0 0 0 rg BT 138.30 198.10 Td (in ) Tj ET Q q 0 0 0 rg BT 148.58 198.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 163.30 198.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 184.67 198.10 Td (is ) Tj ET Q q 0 0 0 rg BT 193.84 198.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 240.21 198.10 Td (in ) Tj ET Q q 0 0 0 rg BT 250.48 198.10 Td (income ) Tj ET Q q 0 0 0 rg BT 282.42 198.10 Td (in ) Tj ET Q q 0 0 0 rg BT 292.70 198.10 Td (the ) Tj ET Q q 0 0 0 rg BT 307.41 198.10 Td (period ) Tj ET Q q 0 0 0 rg BT 335.46 198.10 Td (of ) Tj ET Q q 0 0 0 rg BT 346.29 198.10 Td (enactment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (When ) Tj ET Q q 0 0 0 rg BT 77.08 181.10 Td (considering ) Tj ET Q q 0 0 0 rg BT 126.94 181.10 Td ( ) Tj ET Q q 0 0 0 rg BT 130.15 181.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.57 181.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 173.21 181.10 Td (of ) Tj ET Q q 0 0 0 rg BT 184.75 181.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.17 181.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 240.59 181.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 284.32 181.10 Td (on ) Tj ET Q q 0 0 0 rg BT 296.82 181.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 322.94 181.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 359.45 181.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 374.87 181.10 Td (asset, ) Tj ET Q q 0 0 0 rg BT 400.02 181.10 Td (weight ) Tj ET Q q 0 0 0 rg BT 430.44 181.10 Td (is ) Tj ET Q q 0 0 0 rg BT 440.31 181.10 Td (given ) Tj ET Q q 0 0 0 rg BT 465.74 181.10 Td (by ) Tj ET Q q 0 0 0 rg BT 478.94 181.10 Td (management ) Tj ET Q q 0 0 0 rg BT 533.24 181.10 Td (to ) Tj ET Q q 0 0 0 rg BT 544.22 181.10 Td (both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 83.78 169.10 Td (and ) Tj ET Q q 0 0 0 rg BT 100.33 169.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 136.32 169.10 Td (evidence. ) Tj ET Q q 0 0 0 rg BT 176.46 169.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 196.36 169.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 223.21 169.10 Td ( ) Tj ET Q q 0 0 0 rg BT 225.33 169.10 Td (states ) Tj ET Q q 0 0 0 rg BT 249.66 169.10 Td (that ) Tj ET Q q 0 0 0 rg BT 266.76 169.10 Td (a ) Tj ET Q q 0 0 0 rg BT 273.32 169.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 319.86 169.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 337.53 169.10 Td (in ) Tj ET Q q 0 0 0 rg BT 347.42 169.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 373.96 169.10 Td (years ) Tj ET Q q 0 0 0 rg BT 397.17 169.10 Td (is ) Tj ET Q q 0 0 0 rg BT 405.96 169.10 Td (a ) Tj ET Q q 0 0 0 rg BT 412.51 169.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 456.83 169.10 Td (piece ) Tj ET Q q 0 0 0 rg BT 480.04 169.10 Td (of ) Tj ET Q q 0 0 0 rg BT 490.48 169.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 526.47 169.10 Td (evidence ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.97 157.10 Td (is ) Tj ET Q q 0 0 0 rg BT 77.61 157.10 Td (dif) Tj ET Q q 0 0 0 rg BT 88.54 157.10 Td (ficult ) Tj ET Q q 0 0 0 rg BT 112.61 157.10 Td (to ) Tj ET Q q 0 0 0 rg BT 123.36 157.10 Td (overcome ) Tj ET Q q 0 0 0 rg BT 165.75 157.10 Td (in ) Tj ET Q q 0 0 0 rg BT 176.50 157.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 227.80 157.10 Td (that ) Tj ET Q q 0 0 0 rg BT 245.76 157.10 Td (a ) Tj ET Q q 0 0 0 rg BT 253.17 157.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 293.35 157.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 336.86 157.10 Td (is ) Tj ET Q q 0 0 0 rg BT 346.50 157.10 Td (not ) Tj ET Q q 0 0 0 rg BT 362.25 157.10 Td (needed ) Tj ET Q q 0 0 0 rg BT 393.54 157.10 Td (against ) Tj ET Q q 0 0 0 rg BT 424.83 157.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 461.11 157.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 476.30 157.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 505.10 157.10 Td ( ) Tj ET Q q 0 0 0 rg BT 508.07 157.10 Td (However) Tj ET Q q 0 0 0 rg BT 544.32 157.10 Td (, ) Tj ET Q q 0 0 0 rg BT 549.79 157.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 84.72 145.10 Td (and ) Tj ET Q q 0 0 0 rg BT 101.66 145.10 Td (trend ) Tj ET Q q 0 0 0 rg BT 124.70 145.10 Td (of ) Tj ET Q q 0 0 0 rg BT 135.53 145.10 Td (earnings, ) Tj ET Q q 0 0 0 rg BT 174.41 145.10 Td (as ) Tj ET Q q 0 0 0 rg BT 185.24 145.10 Td (well ) Tj ET Q q 0 0 0 rg BT 204.96 145.10 Td (as ) Tj ET Q q 0 0 0 rg BT 215.79 145.10 Td (other ) Tj ET Q q 0 0 0 rg BT 238.83 145.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 273.54 145.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 303.24 145.10 Td (are ) Tj ET Q q 0 0 0 rg BT 317.95 145.10 Td (considered. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 72.91 128.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 109.70 128.10 Td (for ) Tj ET Q q 0 0 0 rg BT 123.16 128.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 162.16 128.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 176.18 128.10 Td (positions ) Tj ET Q q 0 0 0 rg BT 214.10 128.10 Td (in ) Tj ET Q q 0 0 0 rg BT 223.67 128.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 270.44 128.10 Td (with ) Tj ET Q q 0 0 0 rg BT 290.02 128.10 Td (the ) Tj ET Q q 0 0 0 rg BT 304.03 128.10 Td (income ) Tj ET Q q 0 0 0 rg BT 335.27 128.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 357.62 128.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 403.29 128.10 Td (guidance. ) Tj ET Q q 0 0 0 rg BT 443.29 128.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 466.19 128.10 Td (analyzes ) Tj ET Q q 0 0 0 rg BT 502.42 128.10 Td (filing ) Tj ET Q q 0 0 0 rg BT 525.88 128.10 Td (positions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.97 116.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.38 116.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 104.33 116.10 Td (and ) Tj ET Q q 0 0 0 rg BT 120.96 116.10 Td (state ) Tj ET Q q 0 0 0 rg BT 141.48 116.10 Td (jurisdiction ) Tj ET Q q 0 0 0 rg BT 189.23 116.10 Td (where ) Tj ET Q q 0 0 0 rg BT 215.85 116.10 Td (it ) Tj ET Q q 0 0 0 rg BT 223.60 116.10 Td (is ) Tj ET Q q 0 0 0 rg BT 232.46 116.10 Td (required ) Tj ET Q q 0 0 0 rg BT 267.97 116.10 Td (to ) Tj ET Q q 0 0 0 rg BT 277.95 116.10 Td (file ) Tj ET Q q 0 0 0 rg BT 293.46 116.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 307.88 116.10 Td (returns, ) Tj ET Q q 0 0 0 rg BT 340.34 116.10 Td (as ) Tj ET Q q 0 0 0 rg BT 350.86 116.10 Td (well ) Tj ET Q q 0 0 0 rg BT 370.27 116.10 Td (as ) Tj ET Q q 0 0 0 rg BT 380.80 116.10 Td (the ) Tj ET Q q 0 0 0 rg BT 395.21 116.10 Td (open ) Tj ET Q q 0 0 0 rg BT 416.84 116.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 431.25 116.10 Td (years ) Tj ET Q q 0 0 0 rg BT 454.54 116.10 Td (in ) Tj ET Q q 0 0 0 rg BT 464.51 116.10 Td (these ) Tj ET Q q 0 0 0 rg BT 487.26 116.10 Td (jurisdictions. ) Tj ET Q q 0 0 0 rg BT 540.91 116.10 Td (Atlas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.10 Td (would ) Tj ET Q q 0 0 0 rg BT 77.87 104.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 119.60 104.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 151.90 104.10 Td (and ) Tj ET Q q 0 0 0 rg BT 169.21 104.10 Td (penalties ) Tj ET Q q 0 0 0 rg BT 207.62 104.10 Td (related ) Tj ET Q q 0 0 0 rg BT 237.69 104.10 Td (to ) Tj ET Q q 0 0 0 rg BT 248.34 104.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 305.07 104.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 320.15 104.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 354.68 104.10 Td (as ) Tj ET Q q 0 0 0 rg BT 365.88 104.10 Td (a ) Tj ET Q q 0 0 0 rg BT 373.18 104.10 Td (component ) Tj ET Q q 0 0 0 rg BT 420.49 104.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.68 104.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.77 104.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 487.42 104.10 Td (for ) Tj ET Q q 0 0 0 rg BT 501.95 104.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 532.57 104.10 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.10 Td (taxes.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 75.10 Td (Of) Tj ET Q q 0 0 0 rg BT 60.37 75.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 77.70 75.10 Td (equipment ) Tj ET Q q 0 0 0 rg BT 123.38 75.10 Td (and ) Tj ET Q q 0 0 0 rg BT 141.29 75.10 Td (software) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.29 75.10 Td ( ) Tj ET Q q 0 0 0 rg BT 178.63 75.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.98 75.10 Td (Of) Tj ET Q q 0 0 0 rg BT 196.35 75.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 213.68 75.10 Td (equipment ) Tj ET Q q 0 0 0 rg BT 258.24 75.10 Td (is ) Tj ET Q q 0 0 0 rg BT 267.25 75.10 Td (stated ) Tj ET Q q 0 0 0 rg BT 292.92 75.10 Td (at ) Tj ET Q q 0 0 0 rg BT 302.49 75.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 342.04 75.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 360.50 75.10 Td (less ) Tj ET Q q 0 0 0 rg BT 377.84 75.10 Td (depreciation. ) Tj ET Q q 0 0 0 rg BT 432.11 75.10 Td (Subsequent ) Tj ET Q q 0 0 0 rg BT 480.56 75.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 502.90 75.10 Td (are ) Tj ET Q q 0 0 0 rg BT 517.46 75.10 Td (included ) Tj ET Q q 0 0 0 rg BT 554.24 75.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 63.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.05 63.10 Td (asset) Tj ET Q q 0 0 0 rg BT 86.27 63.10 Td (s ) Tj ET Q q 0 0 0 rg BT 92.00 63.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 127.15 63.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 158.99 63.10 Td (or ) Tj ET Q q 0 0 0 rg BT 169.15 63.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 214.30 63.10 Td (as ) Tj ET Q q 0 0 0 rg BT 224.46 63.10 Td (a ) Tj ET Q q 0 0 0 rg BT 230.74 63.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 265.33 63.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 286.61 63.10 Td (only ) Tj ET Q q 0 0 0 rg BT 306.22 63.10 Td (when ) Tj ET Q q 0 0 0 rg BT 329.72 63.10 Td (it ) Tj ET Q q 0 0 0 rg BT 337.11 63.10 Td (is ) Tj ET Q q 0 0 0 rg BT 345.62 63.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 382.44 63.10 Td (that ) Tj ET Q q 0 0 0 rg BT 399.28 63.10 Td (future ) Tj ET Q q 0 0 0 rg BT 424.99 63.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 465.70 63.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 499.19 63.10 Td (will ) Tj ET Q q 0 0 0 rg BT 516.59 63.10 Td (be ) Tj ET Q q 0 0 0 rg BT 527.86 63.10 Td (realized. ) Tj ET Q q 0 0 0 rg BT 564.50 63.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 51.10 Td (Repairs ) Tj ET Q q 0 0 0 rg BT 83.34 51.10 Td (and ) Tj ET Q q 0 0 0 rg BT 100.57 51.10 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 153.89 51.10 Td (are ) Tj ET Q q 0 0 0 rg BT 168.89 51.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 215.54 51.10 Td (as ) Tj ET Q q 0 0 0 rg BT 226.66 51.10 Td (an ) Tj ET Q q 0 0 0 rg BT 238.89 51.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 273.89 51.10 Td (during ) Tj ET Q q 0 0 0 rg BT 302.79 51.10 Td (the ) Tj ET Q q 0 0 0 rg BT 317.80 51.10 Td (period ) Tj ET Q q 0 0 0 rg BT 346.14 51.10 Td (incurred. ) Tj ET Q q 0 0 0 rg BT 384.75 51.10 Td (Depreciation ) Tj ET Q q 0 0 0 rg BT 439.18 51.10 Td (on ) Tj ET Q q 0 0 0 rg BT 451.97 51.10 Td (equipment ) Tj ET Q q 0 0 0 rg BT 496.98 51.10 Td (is ) Tj ET Q q 0 0 0 rg BT 506.44 51.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 544.78 51.10 Td (on ) Tj ET Q q 0 0 0 rg BT 557.57 51.10 Td (a ) Tj ET Q endstream endobj 125 0 obj <> endobj 126 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 100.49 742.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 122.66 742.10 Td (over ) Tj ET Q q 0 0 0 rg BT 142.59 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 156.98 742.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 197.47 742.10 Td (useful ) Tj ET Q q 0 0 0 rg BT 224.07 742.10 Td (lives ) Tj ET Q q 0 0 0 rg BT 245.13 742.10 Td (which ) Tj ET Q q 0 0 0 rg BT 271.73 742.10 Td (range ) Tj ET Q q 0 0 0 rg BT 296.11 742.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.71 742.10 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.71 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 324.88 742.10 Td (years ) Tj ET Q q 0 0 0 rg BT 348.15 742.10 Td (for ) Tj ET Q q 0 0 0 rg BT 361.98 742.10 Td (vehicles, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.41 742.10 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.41 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 406.58 742.10 Td (years ) Tj ET Q q 0 0 0 rg BT 429.84 742.10 Td (for ) Tj ET Q q 0 0 0 rg BT 443.67 742.10 Td (furniture, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.33 742.10 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.33 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 490.49 742.10 Td (years ) Tj ET Q q 0 0 0 rg BT 513.76 742.10 Td (for ) Tj ET Q q 0 0 0 rg BT 527.59 742.10 Td (software ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 730.10 Td (computer ) Tj ET Q q 0 0 0 rg BT 107.20 730.10 Td (equipment ) Tj ET Q q 0 0 0 rg BT 151.91 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 168.85 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 183.57 730.10 Td (term ) Tj ET Q q 0 0 0 rg BT 204.39 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 215.22 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.94 730.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 252.43 730.10 Td (for ) Tj ET Q q 0 0 0 rg BT 266.59 730.10 Td (leased ) Tj ET Q q 0 0 0 rg BT 294.07 730.10 Td (equipment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 713.10 Td (Rent ) Tj ET Q q 0 0 0 rg BT 71.39 713.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 106.09 713.10 Td (for ) Tj ET Q q 0 0 0 rg BT 120.25 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 134.97 713.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 157.46 713.10 Td (on ) Tj ET Q q 0 0 0 rg BT 169.40 713.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 194.81 713.10 Td (headquarters ) Tj ET Q q 0 0 0 rg BT 248.40 713.10 Td (is ) Tj ET Q q 0 0 0 rg BT 257.57 713.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 303.93 713.10 Td (on ) Tj ET Q q 0 0 0 rg BT 316.43 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 323.37 713.10 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 374.19 713.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 396.69 713.10 Td (over ) Tj ET Q q 0 0 0 rg BT 416.96 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 431.67 713.10 Td (life ) Tj ET Q q 0 0 0 rg BT 447.50 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 458.33 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.05 713.10 Td (lease.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 696.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 94.09 696.10 Td (contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 131.86 696.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.71 696.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.56 696.10 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 180.74 696.10 Td (under ) Tj ET Q q 0 0 0 rg BT 205.36 696.10 Td (which ) Tj ET Q q 0 0 0 rg BT 231.24 696.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 254.93 696.10 Td ( ) Tj ET Q q 0 0 0 rg BT 256.78 696.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 296.95 696.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 346.01 696.10 Td (accept ) Tj ET Q q 0 0 0 rg BT 373.40 696.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 390.25 696.10 Td (at ) Tj ET Q q 0 0 0 rg BT 399.31 696.10 Td (the ) Tj ET Q q 0 0 0 rg BT 413.38 696.10 Td (inception ) Tj ET Q q 0 0 0 rg BT 452.44 696.10 Td (of ) Tj ET Q q 0 0 0 rg BT 462.62 696.10 Td (the ) Tj ET Q q 0 0 0 rg BT 476.69 696.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 510.74 696.10 Td (from ) Tj ET Q q 0 0 0 rg BT 532.03 696.10 Td (another ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 684.10 Td (party ) Tj ET Q q 0 0 0 rg BT 73.70 684.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 92.41 684.10 Td (insured ) Tj ET Q q 0 0 0 rg BT 125.00 684.10 Td (holder ) Tj ET Q q 0 0 0 rg BT 153.70 684.10 Td (of ) Tj ET Q q 0 0 0 rg BT 165.19 684.10 Td (the ) Tj ET Q q 0 0 0 rg BT 180.56 684.10 Td (policy\) ) Tj ET Q q 0 0 0 rg BT 212.04 684.10 Td (by ) Tj ET Q q 0 0 0 rg BT 225.20 684.10 Td (agreeing ) Tj ET Q q 0 0 0 rg BT 262.78 684.10 Td (to ) Tj ET Q q 0 0 0 rg BT 273.71 684.10 Td (compensate ) Tj ET Q q 0 0 0 rg BT 324.07 684.10 Td (the ) Tj ET Q q 0 0 0 rg BT 339.44 684.10 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 393.14 684.10 Td (or ) Tj ET Q q 0 0 0 rg BT 404.63 684.10 Td (other ) Tj ET Q q 0 0 0 rg BT 428.33 684.10 Td (insured ) Tj ET Q q 0 0 0 rg BT 460.92 684.10 Td (beneficiary ) Tj ET Q q 0 0 0 rg BT 509.05 684.10 Td (if ) Tj ET Q q 0 0 0 rg BT 518.31 684.10 Td (a ) Tj ET Q q 0 0 0 rg BT 525.91 684.10 Td (specified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 672.10 Td (future ) Tj ET Q q 0 0 0 rg BT 76.77 672.10 Td (event ) Tj ET Q q 0 0 0 rg BT 101.31 672.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 119.74 672.10 Td (insured ) Tj ET Q q 0 0 0 rg BT 152.07 672.10 Td (event\) ) Tj ET Q q 0 0 0 rg BT 179.94 672.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 221.15 672.10 Td (af) Tj ET Q q 0 0 0 rg BT 228.74 672.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 250.50 672.10 Td (the ) Tj ET Q q 0 0 0 rg BT 265.61 672.10 Td (holder ) Tj ET Q q 0 0 0 rg BT 294.04 672.10 Td (of ) Tj ET Q q 0 0 0 rg BT 305.26 672.10 Td (the ) Tj ET Q q 0 0 0 rg BT 320.36 672.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 348.25 672.10 Td (are ) Tj ET Q q 0 0 0 rg BT 363.34 672.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 403.99 672.10 Td (as ) Tj ET Q q 0 0 0 rg BT 415.21 672.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 456.42 672.10 Td (contracts. ) Tj ET Q q 0 0 0 rg BT 497.90 672.10 Td ( ) Tj ET Q q 0 0 0 rg BT 500.15 672.10 Td (All ) Tj ET Q q 0 0 0 rg BT 515.82 672.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 549.81 672.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 660.10 Td (short-duration ) Tj ET Q q 0 0 0 rg BT 109.16 660.10 Td (contracts.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 643.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 88.51 643.10 Td (recognition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.74 643.10 Td ( ) Tj ET Q q 0 0 0 rg BT 138.70 643.10 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.00 643.10 Td (Premium ) Tj ET Q q 0 0 0 rg BT 184.63 643.10 Td (income ) Tj ET Q q 0 0 0 rg BT 217.03 643.10 Td (is ) Tj ET Q q 0 0 0 rg BT 226.66 643.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 273.49 643.10 Td (on ) Tj ET Q q 0 0 0 rg BT 286.46 643.10 Td (a ) Tj ET Q q 0 0 0 rg BT 293.86 643.10 Td (pro ) Tj ET Q q 0 0 0 rg BT 310.16 643.10 Td (rata ) Tj ET Q q 0 0 0 rg BT 328.11 643.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 351.07 643.10 Td (over ) Tj ET Q q 0 0 0 rg BT 371.81 643.10 Td (the ) Tj ET Q q 0 0 0 rg BT 386.99 643.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 412.17 643.10 Td (of ) Tj ET Q q 0 0 0 rg BT 423.47 643.10 Td (the ) Tj ET Q q 0 0 0 rg BT 438.65 643.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 482.15 643.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 523.43 643.10 Td (contracts. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.10 Td (Unearned ) Tj ET Q q 0 0 0 rg BT 91.37 631.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 133.86 631.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 173.01 631.10 Td (the ) Tj ET Q q 0 0 0 rg BT 187.72 631.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 219.11 631.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.94 631.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 272.44 631.10 Td (written ) Tj ET Q q 0 0 0 rg BT 303.26 631.10 Td (that ) Tj ET Q q 0 0 0 rg BT 320.76 631.10 Td (are ) Tj ET Q q 0 0 0 rg BT 335.46 631.10 Td (related ) Tj ET Q q 0 0 0 rg BT 365.17 631.10 Td (to ) Tj ET Q q 0 0 0 rg BT 375.44 631.10 Td (the ) Tj ET Q q 0 0 0 rg BT 390.16 631.10 Td (unexpired ) Tj ET Q q 0 0 0 rg BT 432.65 631.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 457.36 631.10 Td (of ) Tj ET Q q 0 0 0 rg BT 468.19 631.10 Td (the ) Tj ET Q q 0 0 0 rg BT 482.91 631.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 516.51 631.10 Td (in ) Tj ET Q q 0 0 0 rg BT 526.79 631.10 Td (force.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 614.10 Td (Claims ) Tj ET Q q 0 0 0 rg BT 81.22 614.10 Td (liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 119.00 614.10 Td ( ) Tj ET Q q 0 0 0 rg BT 121.32 614.10 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.98 614.10 Td (The ) Tj ET Q q 0 0 0 rg BT 144.85 614.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 184.95 614.10 Td (for ) Tj ET Q q 0 0 0 rg BT 198.94 614.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 228.48 614.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 256.90 614.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 295.87 614.10 Td (the ) Tj ET Q q 0 0 0 rg BT 310.42 614.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 351.06 614.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 390.60 614.10 Td (for ) Tj ET Q q 0 0 0 rg BT 404.58 614.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 440.22 614.10 Td (claims, ) Tj ET Q q 0 0 0 rg BT 471.15 614.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 490.15 614.10 Td (those ) Tj ET Q q 0 0 0 rg BT 513.58 614.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 549.22 614.10 Td (but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 602.10 Td (not ) Tj ET Q q 0 0 0 rg BT 65.55 602.10 Td (yet ) Tj ET Q q 0 0 0 rg BT 80.54 602.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 116.64 602.10 Td (and ) Tj ET Q q 0 0 0 rg BT 133.85 602.10 Td (the ) Tj ET Q q 0 0 0 rg BT 148.84 602.10 Td (related ) Tj ET Q q 0 0 0 rg BT 178.82 602.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 219.91 602.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 238.25 602.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 284.91 602.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 326.28 602.10 Td (such ) Tj ET Q q 0 0 0 rg BT 347.38 602.10 Td (as ) Tj ET Q q 0 0 0 rg BT 358.49 602.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 380.70 602.10 Td (fees. ) Tj ET Q q 0 0 0 rg BT 402.07 602.10 Td (Unpaid ) Tj ET Q q 0 0 0 rg BT 434.28 602.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 463.16 602.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 502.04 602.10 Td (are ) Tj ET Q q 0 0 0 rg BT 517.02 602.10 Td (determined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 590.10 Td (using ) Tj ET Q q 0 0 0 rg BT 73.57 590.10 Td (case-basis ) Tj ET Q q 0 0 0 rg BT 116.02 590.10 Td (evaluations ) Tj ET Q q 0 0 0 rg BT 163.46 590.10 Td (and ) Tj ET Q q 0 0 0 rg BT 179.80 590.10 Td (statistical ) Tj ET Q q 0 0 0 rg BT 219.48 590.10 Td (analyses, ) Tj ET Q q 0 0 0 rg BT 257.76 590.10 Td (including ) Tj ET Q q 0 0 0 rg BT 297.44 590.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 337.66 590.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 372.34 590.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 389.80 590.10 Td (data, ) Tj ET Q q 0 0 0 rg BT 410.86 590.10 Td (and ) Tj ET Q q 0 0 0 rg BT 427.21 590.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 465.76 590.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 504.87 590.10 Td (of ) Tj ET Q q 0 0 0 rg BT 515.11 590.10 Td (the ) Tj ET Q q 0 0 0 rg BT 529.23 590.10 Td (ultimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 578.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 68.42 578.10 Td (of ) Tj ET Q q 0 0 0 rg BT 79.07 578.10 Td (all ) Tj ET Q q 0 0 0 rg BT 91.37 578.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 119.79 578.10 Td (incurred. ) Tj ET Q q 0 0 0 rg BT 157.41 578.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 197.50 578.10 Td (considerable ) Tj ET Q q 0 0 0 rg BT 250.35 578.10 Td (variability ) Tj ET Q q 0 0 0 rg BT 293.76 578.10 Td (is ) Tj ET Q q 0 0 0 rg BT 302.74 578.10 Td (inherent ) Tj ET Q q 0 0 0 rg BT 337.82 578.10 Td (in ) Tj ET Q q 0 0 0 rg BT 347.91 578.10 Td (such ) Tj ET Q q 0 0 0 rg BT 368.55 578.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 410.58 578.10 Td (management ) Tj ET Q q 0 0 0 rg BT 463.98 578.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 499.06 578.10 Td (that ) Tj ET Q q 0 0 0 rg BT 516.37 578.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.90 578.10 Td (liability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 566.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.33 566.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 94.22 566.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 123.00 566.10 Td (is ) Tj ET Q q 0 0 0 rg BT 132.34 566.10 Td (adequate. ) Tj ET Q q 0 0 0 rg BT 172.85 566.10 Td (The ) Tj ET Q q 0 0 0 rg BT 191.07 566.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 230.95 566.10 Td (are ) Tj ET Q q 0 0 0 rg BT 245.83 566.10 Td (continually ) Tj ET Q q 0 0 0 rg BT 293.50 566.10 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 332.81 566.10 Td (and ) Tj ET Q q 0 0 0 rg BT 349.93 566.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 385.92 566.10 Td (as ) Tj ET Q q 0 0 0 rg BT 396.93 566.10 Td (necessary; ) Tj ET Q q 0 0 0 rg BT 441.24 566.10 Td (such ) Tj ET Q q 0 0 0 rg BT 462.25 566.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 512.69 566.10 Td (are ) Tj ET Q q 0 0 0 rg BT 527.57 566.10 Td (included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 554.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 554.10 Td (current ) Tj ET Q q 0 0 0 rg BT 91.09 554.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 135.25 554.10 Td (and ) Tj ET Q q 0 0 0 rg BT 152.19 554.10 Td (are ) Tj ET Q q 0 0 0 rg BT 166.89 554.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 209.93 554.10 Td (for ) Tj ET Q q 0 0 0 rg BT 224.09 554.10 Td (as ) Tj ET Q q 0 0 0 rg BT 234.92 554.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 269.62 554.10 Td (in ) Tj ET Q q 0 0 0 rg BT 279.90 554.10 Td (estimates.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 537.10 Td (Reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.23 537.10 Td ( ) Tj ET Q q 0 0 0 rg BT 103.66 537.10 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.41 537.10 Td (As ) Tj ET Q q 0 0 0 rg BT 120.95 537.10 Td (part ) Tj ET Q q 0 0 0 rg BT 137.92 537.10 Td (of ) Tj ET Q q 0 0 0 rg BT 147.36 537.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 171.06 537.10 Td ( ) Tj ET Q q 0 0 0 rg BT 172.48 537.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 212.22 537.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 228.65 537.10 Td (management ) Tj ET Q q 0 0 0 rg BT 281.16 537.10 Td (policies, ) Tj ET Q q 0 0 0 rg BT 316.19 537.10 Td (portions ) Tj ET Q q 0 0 0 rg BT 350.39 537.10 Td (of ) Tj ET Q q 0 0 0 rg BT 360.15 537.10 Td (its ) Tj ET Q q 0 0 0 rg BT 371.02 537.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 410.76 537.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 427.19 537.10 Td (is ) Tj ET Q q 0 0 0 rg BT 435.28 537.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 460.02 537.10 Td (to ) Tj ET Q q 0 0 0 rg BT 469.22 537.10 Td (reinsurers. ) Tj ET Q q 0 0 0 rg BT 512.58 537.10 Td (Reinsurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 525.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 91.83 525.10 Td (and ) Tj ET Q q 0 0 0 rg BT 108.09 525.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 136.03 525.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 173.96 525.10 Td (are ) Tj ET Q q 0 0 0 rg BT 187.99 525.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 230.36 525.10 Td (for ) Tj ET Q q 0 0 0 rg BT 243.85 525.10 Td (on ) Tj ET Q q 0 0 0 rg BT 255.68 525.10 Td (a ) Tj ET Q q 0 0 0 rg BT 261.94 525.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 283.77 525.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 325.60 525.10 Td (with ) Tj ET Q q 0 0 0 rg BT 345.21 525.10 Td (those ) Tj ET Q q 0 0 0 rg BT 368.15 525.10 Td (used ) Tj ET Q q 0 0 0 rg BT 388.31 525.10 Td (in ) Tj ET Q q 0 0 0 rg BT 397.92 525.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 443.62 525.10 Td (for ) Tj ET Q q 0 0 0 rg BT 457.11 525.10 Td (the ) Tj ET Q q 0 0 0 rg BT 471.15 525.10 Td (original ) Tj ET Q q 0 0 0 rg BT 504.09 525.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 537.02 525.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 513.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.06 513.10 Td (the ) Tj ET Q q 0 0 0 rg BT 81.90 513.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 106.74 513.10 Td (of ) Tj ET Q q 0 0 0 rg BT 117.70 513.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.54 513.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 181.24 513.10 Td (contracts. ) Tj ET Q q 0 0 0 rg BT 222.46 513.10 Td (Premiums ) Tj ET Q q 0 0 0 rg BT 265.64 513.10 Td (and ) Tj ET Q q 0 0 0 rg BT 282.70 513.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 311.43 513.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 337.37 513.10 Td (to ) Tj ET Q q 0 0 0 rg BT 347.77 513.10 Td (other ) Tj ET Q q 0 0 0 rg BT 370.94 513.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 416.33 513.10 Td (have ) Tj ET Q q 0 0 0 rg BT 437.83 513.10 Td (been ) Tj ET Q q 0 0 0 rg BT 459.33 513.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 495.27 513.10 Td (as ) Tj ET Q q 0 0 0 rg BT 506.22 513.10 Td (a ) Tj ET Q q 0 0 0 rg BT 513.28 513.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 553.67 513.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 501.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 88.50 501.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 122.54 501.10 Td (and ) Tj ET Q q 0 0 0 rg BT 139.38 501.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 167.88 501.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 203.59 501.10 Td (expense. ) Tj ET Q q 0 0 0 rg BT 240.69 501.10 Td (Commissions ) Tj ET Q q 0 0 0 rg BT 297.55 501.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 317.16 501.10 Td (to ) Tj ET Q q 0 0 0 rg BT 326.81 501.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 350.31 501.10 Td (by ) Tj ET Q q 0 0 0 rg BT 362.71 501.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 404.53 501.10 Td (on ) Tj ET Q q 0 0 0 rg BT 416.93 501.10 Td (business ) Tj ET Q q 0 0 0 rg BT 453.22 501.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 478.93 501.10 Td (have ) Tj ET Q q 0 0 0 rg BT 500.20 501.10 Td (been ) Tj ET Q q 0 0 0 rg BT 521.48 501.10 Td (accounted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 489.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.98 489.10 Td (as ) Tj ET Q q 0 0 0 rg BT 74.63 489.10 Td (a ) Tj ET Q q 0 0 0 rg BT 81.38 489.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 121.47 489.10 Td (of ) Tj ET Q q 0 0 0 rg BT 132.11 489.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.65 489.10 Td (related ) Tj ET Q q 0 0 0 rg BT 176.17 489.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 203.48 489.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 249.68 489.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 274.50 489.10 Td (Reinsurance ) Tj ET Q q 0 0 0 rg BT 326.24 489.10 Td (receivables ) Tj ET Q q 0 0 0 rg BT 373.53 489.10 Td (are ) Tj ET Q q 0 0 0 rg BT 388.06 489.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 425.35 489.10 Td (for ) Tj ET Q q 0 0 0 rg BT 439.33 489.10 Td (that ) Tj ET Q q 0 0 0 rg BT 456.64 489.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 487.85 489.10 Td (of ) Tj ET Q q 0 0 0 rg BT 498.50 489.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 518.03 489.10 Td (and ) Tj ET Q q 0 0 0 rg BT 534.79 489.10 Td (unpaid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 477.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 76.36 477.10 Td (and ) Tj ET Q q 0 0 0 rg BT 93.26 477.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 111.29 477.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 157.64 477.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 196.20 477.10 Td (that ) Tj ET Q q 0 0 0 rg BT 213.66 477.10 Td (are ) Tj ET Q q 0 0 0 rg BT 228.33 477.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 254.12 477.10 Td (to ) Tj ET Q q 0 0 0 rg BT 264.36 477.10 Td (other ) Tj ET Q q 0 0 0 rg BT 287.37 477.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 335.10 477.10 Td (Prepaid ) Tj ET Q q 0 0 0 rg BT 368.12 477.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 416.67 477.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 459.13 477.10 Td (are ) Tj ET Q q 0 0 0 rg BT 473.80 477.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 511.24 477.10 Td (for ) Tj ET Q q 0 0 0 rg BT 525.37 477.10 Td (unearned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 465.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 92.50 465.10 Td (that ) Tj ET Q q 0 0 0 rg BT 109.99 465.10 Td (have ) Tj ET Q q 0 0 0 rg BT 131.37 465.10 Td (been ) Tj ET Q q 0 0 0 rg BT 152.74 465.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 178.56 465.10 Td (to ) Tj ET Q q 0 0 0 rg BT 188.84 465.10 Td (other ) Tj ET Q q 0 0 0 rg BT 211.88 465.10 Td (companies.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (Share-based ) Tj ET Q q 0 0 0 rg BT 104.50 448.10 Td (payments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 143.39 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 146.78 448.10 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.49 448.10 Td (Atlas) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.60 448.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.99 448.10 Td (has ) Tj ET Q q 0 0 0 rg BT 194.71 448.10 Td (a ) Tj ET Q q 0 0 0 rg BT 202.53 448.10 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 253.13 448.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 312.06 448.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 332.66 448.10 Td (which ) Tj ET Q q 0 0 0 rg BT 360.49 448.10 Td (is ) Tj ET Q q 0 0 0 rg BT 370.55 448.10 Td (described ) Tj ET Q q 0 0 0 rg BT 412.25 448.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 434.52 448.10 Td (in ) Tj ET Q q 0 0 0 rg BT 445.69 448.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 468.52 448.10 Td (12 ) Tj ET Q q 0 0 0 rg BT 481.90 448.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.62 448.10 Td (the ) Tj ET Q q 0 0 0 rg BT 509.23 448.10 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 89.59 436.10 Td (Statements. ) Tj ET Q q 0 0 0 rg BT 138.36 436.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 165.73 436.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 185.90 436.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 212.02 436.10 Td (, ) Tj ET Q q 0 0 0 rg BT 216.90 436.10 Td (the ) Tj ET Q q 0 0 0 rg BT 231.50 436.10 Td (fair) Tj ET Q q 0 0 0 rg BT 245.18 436.10 Td (-value ) Tj ET Q q 0 0 0 rg BT 272.54 436.10 Td (method ) Tj ET Q q 0 0 0 rg BT 304.92 436.10 Td (of ) Tj ET Q q 0 0 0 rg BT 315.63 436.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 361.89 436.10 Td (is ) Tj ET Q q 0 0 0 rg BT 370.94 436.10 Td (used ) Tj ET Q q 0 0 0 rg BT 391.66 436.10 Td (to ) Tj ET Q q 0 0 0 rg BT 401.82 436.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 444.18 436.10 Td (and ) Tj ET Q q 0 0 0 rg BT 461.00 436.10 Td (account ) Tj ET Q q 0 0 0 rg BT 494.48 436.10 Td (for ) Tj ET Q q 0 0 0 rg BT 508.52 436.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 535.90 436.10 Td (settled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 99.43 424.10 Td (and ) Tj ET Q q 0 0 0 rg BT 115.53 424.10 Td (to ) Tj ET Q q 0 0 0 rg BT 124.97 424.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 166.61 424.10 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 215.48 424.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 272.68 424.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 302.66 424.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 334.31 424.10 Td (to ) Tj ET Q q 0 0 0 rg BT 343.75 424.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 388.17 424.10 Td (and ) Tj ET Q q 0 0 0 rg BT 404.27 424.10 Td (non-employees ) Tj ET Q q 0 0 0 rg BT 467.03 424.10 Td (using ) Tj ET Q q 0 0 0 rg BT 490.36 424.10 Td (the ) Tj ET Q q 0 0 0 rg BT 504.24 424.10 Td (Black-Scholes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (option ) Tj ET Q q 0 0 0 rg BT 79.02 412.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 110.80 412.10 Td (model. ) Tj ET Q q 0 0 0 rg BT 141.75 412.10 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 202.98 412.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 238.65 412.10 Td (is ) Tj ET Q q 0 0 0 rg BT 248.78 412.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 296.10 412.10 Td (over ) Tj ET Q q 0 0 0 rg BT 317.33 412.10 Td (the ) Tj ET Q q 0 0 0 rg BT 333.00 412.10 Td (period ) Tj ET Q q 0 0 0 rg BT 362.01 412.10 Td (that ) Tj ET Q q 0 0 0 rg BT 380.46 412.10 Td (the ) Tj ET Q q 0 0 0 rg BT 396.14 412.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 420.70 412.10 Td (options ) Tj ET Q q 0 0 0 rg BT 453.61 412.10 Td (vest, ) Tj ET Q q 0 0 0 rg BT 475.68 412.10 Td (with ) Tj ET Q q 0 0 0 rg BT 496.91 412.10 Td (a ) Tj ET Q q 0 0 0 rg BT 504.81 412.10 Td (corresponding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 85.25 400.10 Td (to ) Tj ET Q q 0 0 0 rg BT 95.53 400.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 138.02 400.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 157.74 400.10 Td (in ) Tj ET Q q 0 0 0 rg BT 168.02 400.10 Td (capital. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.10 Td (For ) Tj ET Q q 0 0 0 rg BT 66.19 383.10 Td (option ) Tj ET Q q 0 0 0 rg BT 94.05 383.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 124.67 383.10 Td (with ) Tj ET Q q 0 0 0 rg BT 144.74 383.10 Td (graded ) Tj ET Q q 0 0 0 rg BT 174.25 383.10 Td (vesting, ) Tj ET Q q 0 0 0 rg BT 207.93 383.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 242.44 383.10 Td (is ) Tj ET Q q 0 0 0 rg BT 251.41 383.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 297.57 383.10 Td (on ) Tj ET Q q 0 0 0 rg BT 309.87 383.10 Td (a ) Tj ET Q q 0 0 0 rg BT 316.61 383.10 Td (straight ) Tj ET Q q 0 0 0 rg BT 348.90 383.10 Td (line ) Tj ET Q q 0 0 0 rg BT 366.19 383.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 388.49 383.10 Td (over ) Tj ET Q q 0 0 0 rg BT 408.56 383.10 Td (the ) Tj ET Q q 0 0 0 rg BT 423.08 383.10 Td (service ) Tj ET Q q 0 0 0 rg BT 453.69 383.10 Td (period ) Tj ET Q q 0 0 0 rg BT 481.54 383.10 Td (for ) Tj ET Q q 0 0 0 rg BT 495.49 383.10 Td (the ) Tj ET Q q 0 0 0 rg BT 510.01 383.10 Td (entire ) Tj ET Q q 0 0 0 rg BT 535.07 383.10 Td (award. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 366.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 94.17 366.10 Td (segments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.95 366.10 Td ( ) Tj ET Q q 0 0 0 rg BT 134.45 366.10 Td (- ) Tj ET Q q 0 0 0 rg BT 139.73 366.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 163.33 366.10 Td (is ) Tj ET Q q 0 0 0 rg BT 172.50 366.10 Td (in ) Tj ET Q q 0 0 0 rg BT 182.78 366.10 Td (a ) Tj ET Q q 0 0 0 rg BT 189.72 366.10 Td (single ) Tj ET Q q 0 0 0 rg BT 216.11 366.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 256.37 366.10 Td (segment ) Tj ET Q q 0 0 0 rg BT 292.20 366.10 Td ( ) Tj ET Q q 0 0 0 rg BT 299.70 366.10 Td (property ) Tj ET Q q 0 0 0 rg BT 336.07 366.10 Td (and ) Tj ET Q q 0 0 0 rg BT 353.01 366.10 Td (casualty ) Tj ET Q q 0 0 0 rg BT 388.28 366.10 Td (insurance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 337.10 Td (2. NEW) Tj ET Q q 0 0 0 rg BT 101.71 337.10 Td ( ) Tj ET Q q 0 0 0 rg BT 103.66 337.10 Td (ACCOUNTING ST) Tj ET Q q 0 0 0 rg BT 187.10 337.10 Td (ANDARDS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.10 Td (Except ) Tj ET Q q 0 0 0 rg BT 81.85 313.10 Td (for ) Tj ET Q q 0 0 0 rg BT 97.61 313.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 121.13 313.10 Td (and ) Tj ET Q q 0 0 0 rg BT 139.66 313.10 Td (interpretative ) Tj ET Q q 0 0 0 rg BT 197.06 313.10 Td (releases ) Tj ET Q q 0 0 0 rg BT 232.80 313.10 Td (of ) Tj ET Q q 0 0 0 rg BT 245.22 313.10 Td (the ) Tj ET Q q 0 0 0 rg BT 261.53 313.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 283.96 313.10 Td (under ) Tj ET Q q 0 0 0 rg BT 310.82 313.10 Td (authority ) Tj ET Q q 0 0 0 rg BT 351.01 313.10 Td (of ) Tj ET Q q 0 0 0 rg BT 363.43 313.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 395.28 313.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 437.13 313.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 459.55 313.10 Td (and ) Tj ET Q q 0 0 0 rg BT 478.08 313.10 Td (a ) Tj ET Q q 0 0 0 rg BT 486.61 313.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 519.03 313.10 Td (number ) Tj ET Q q 0 0 0 rg BT 553.67 313.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.10 Td (grandfathered ) Tj ET Q q 0 0 0 rg BT 107.65 301.10 Td (standards, ) Tj ET Q q 0 0 0 rg BT 150.05 301.10 Td (the ) Tj ET Q q 0 0 0 rg BT 164.39 301.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 203.26 301.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 252.04 301.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 293.61 301.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 320.18 301.10 Td (\("F) Tj ET Q q 0 0 0 rg BT 332.41 301.10 Td (ASB"\) ) Tj ET Q q 0 0 0 rg BT 360.93 301.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 382.51 301.10 Td (is ) Tj ET Q q 0 0 0 rg BT 391.31 301.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.66 301.10 Td (sole ) Tj ET Q q 0 0 0 rg BT 423.89 301.10 Td (source ) Tj ET Q q 0 0 0 rg BT 452.12 301.10 Td (of ) Tj ET Q q 0 0 0 rg BT 462.58 301.10 Td (authoritative ) Tj ET Q q 0 0 0 rg BT 515.24 301.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 535.15 301.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 562.01 301.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 96.40 289.10 Td (by ) Tj ET Q q 0 0 0 rg BT 108.94 289.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.69 289.10 Td (F) Tj ET Q q 0 0 0 rg BT 128.51 289.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 150.50 289.10 Td (that ) Tj ET Q q 0 0 0 rg BT 168.03 289.10 Td (is ) Tj ET Q q 0 0 0 rg BT 177.24 289.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 220.86 289.10 Td (to ) Tj ET Q q 0 0 0 rg BT 231.18 289.10 Td (the ) Tj ET Q q 0 0 0 rg BT 245.93 289.10 Td (Company) Tj ET Q q 0 0 0 rg BT 284.17 289.10 Td (. ) Tj ET Q q 0 0 0 rg BT 289.20 289.10 Td ( ) Tj ET Q q 0 0 0 rg BT 291.18 289.10 Td (All ) Tj ET Q q 0 0 0 rg BT 306.50 289.10 Td (recently ) Tj ET Q q 0 0 0 rg BT 341.23 289.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 368.77 289.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 415.18 289.10 Td (pronouncements ) Tj ET Q q 0 0 0 rg BT 483.81 289.10 Td (with ) Tj ET Q q 0 0 0 rg BT 504.13 289.10 Td (ef) Tj ET Q q 0 0 0 rg BT 511.71 289.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 541.45 289.10 Td (dates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 71.78 277.10 Td (to ) Tj ET Q q 0 0 0 rg BT 81.90 277.10 Td (January ) Tj ET Q q 0 0 0 rg BT 115.34 277.10 Td (1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.18 277.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.18 277.10 Td ( ) Tj ET Q q 0 0 0 rg BT 147.52 277.10 Td (have ) Tj ET Q q 0 0 0 rg BT 168.74 277.10 Td (been ) Tj ET Q q 0 0 0 rg BT 189.96 277.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 223.96 277.10 Td (by ) Tj ET Q q 0 0 0 rg BT 236.30 277.10 Td (the ) Tj ET Q q 0 0 0 rg BT 250.85 277.10 Td (Company) Tj ET Q q 0 0 0 rg BT 289.09 277.10 Td (. ) Tj ET Q q 0 0 0 rg BT 293.93 277.10 Td ( ) Tj ET Q q 0 0 0 rg BT 296.27 277.10 Td ( ) Tj ET Q q 0 0 0 rg BT 298.45 277.10 Td (There ) Tj ET Q q 0 0 0 rg BT 324.10 277.10 Td (were ) Tj ET Q q 0 0 0 rg BT 345.87 277.10 Td (no ) Tj ET Q q 0 0 0 rg BT 358.21 277.10 Td (adoptions ) Tj ET Q q 0 0 0 rg BT 399.44 277.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.56 277.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.56 277.10 Td ( ) Tj ET Q q 0 0 0 rg BT 431.90 277.10 Td (that ) Tj ET Q q 0 0 0 rg BT 449.24 277.10 Td (had ) Tj ET Q q 0 0 0 rg BT 466.02 277.10 Td (a ) Tj ET Q q 0 0 0 rg BT 472.80 277.10 Td (material ) Tj ET Q q 0 0 0 rg BT 507.90 277.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 537.45 277.10 Td (on ) Tj ET Q q 0 0 0 rg BT 549.79 277.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 265.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 104.94 265.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 144.31 265.10 Td (Statements. ) Tj ET Q q 0 0 0 rg BT 192.38 265.10 Td (All ) Tj ET Q q 0 0 0 rg BT 207.32 265.10 Td (other ) Tj ET Q q 0 0 0 rg BT 230.03 265.10 Td (recently ) Tj ET Q q 0 0 0 rg BT 264.39 265.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 291.55 265.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 337.59 265.10 Td (pronouncements ) Tj ET Q q 0 0 0 rg BT 405.84 265.10 Td (with ) Tj ET Q q 0 0 0 rg BT 425.78 265.10 Td (ef) Tj ET Q q 0 0 0 rg BT 433.37 265.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 462.73 265.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 485.44 265.10 Td (after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 265.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 253.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 253.10 Td ( ) Tj ET Q q 0 0 0 rg BT 72.50 253.10 Td (are ) Tj ET Q q 0 0 0 rg BT 87.21 253.10 Td (not ) Tj ET Q q 0 0 0 rg BT 102.49 253.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 140.52 253.10 Td (to ) Tj ET Q q 0 0 0 rg BT 150.80 253.10 Td (have ) Tj ET Q q 0 0 0 rg BT 172.17 253.10 Td (a ) Tj ET Q q 0 0 0 rg BT 179.11 253.10 Td (material ) Tj ET Q q 0 0 0 rg BT 214.37 253.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 244.08 253.10 Td (on ) Tj ET Q q 0 0 0 rg BT 256.58 253.10 Td (the ) Tj ET Q q 0 0 0 rg BT 271.30 253.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 326.57 253.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 366.28 253.10 Td (Statements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 215.50 Td (3. ) Tj ET Q q 0 0 0 rg BT 77.45 215.50 Td (ACQUISITIONS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.50 Td (In ) Tj ET Q q 0 0 0 rg BT 60.73 198.50 Td (the ) Tj ET Q q 0 0 0 rg BT 75.36 198.50 Td (first ) Tj ET Q q 0 0 0 rg BT 93.87 198.50 Td (quarter ) Tj ET Q q 0 0 0 rg BT 124.59 198.50 Td (of ) Tj ET Q q 0 0 0 rg BT 135.32 198.50 Td (2015 ) Tj ET Q q 0 0 0 rg BT 157.73 198.50 Td (\(having ) Tj ET Q q 0 0 0 rg BT 190.68 198.50 Td (received ) Tj ET Q q 0 0 0 rg BT 226.95 198.50 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 270.45 198.50 Td (approval ) Tj ET Q q 0 0 0 rg BT 307.84 198.50 Td (on ) Tj ET Q q 0 0 0 rg BT 320.24 198.50 Td (March ) Tj ET Q q 0 0 0 rg BT 348.75 198.50 Td (4, ) Tj ET Q q 0 0 0 rg BT 358.65 198.50 Td (2015\), ) Tj ET Q q 0 0 0 rg BT 386.88 198.50 Td (we ) Tj ET Q q 0 0 0 rg BT 400.95 198.50 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 442.22 198.50 Td (consummating ) Tj ET Q q 0 0 0 rg BT 503.51 198.50 Td (the ) Tj ET Q q 0 0 0 rg BT 518.13 198.50 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.50 Td (of ) Tj ET Q q 0 0 0 rg BT 60.15 186.50 Td (Anchor ) Tj ET Q q 0 0 0 rg BT 92.48 186.50 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 131.49 186.50 Td (Group, ) Tj ET Q q 0 0 0 rg BT 161.88 186.50 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 181.99 186.50 Td (a ) Tj ET Q q 0 0 0 rg BT 188.77 186.50 Td (privately ) Tj ET Q q 0 0 0 rg BT 226.65 186.50 Td (owned ) Tj ET Q q 0 0 0 rg BT 255.65 186.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 296.30 186.50 Td (holding ) Tj ET Q q 0 0 0 rg BT 329.20 186.50 Td (company) Tj ET Q q 0 0 0 rg BT 365.20 186.50 Td (, ) Tj ET Q q 0 0 0 rg BT 370.04 186.50 Td (and ) Tj ET Q q 0 0 0 rg BT 386.82 186.50 Td (its ) Tj ET Q q 0 0 0 rg BT 398.60 186.50 Td (wholly ) Tj ET Q q 0 0 0 rg BT 428.72 186.50 Td (owned ) Tj ET Q q 0 0 0 rg BT 457.72 186.50 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 498.18 186.50 Td (, ) Tj ET Q q 0 0 0 rg BT 503.02 186.50 Td (Global ) Tj ET Q q 0 0 0 rg BT 532.57 186.50 Td (Liberty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.50 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 92.26 174.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 134.55 174.50 Td (of ) Tj ET Q q 0 0 0 rg BT 146.27 174.50 Td (New ) Tj ET Q q 0 0 0 rg BT 168.05 174.50 Td (Y) Tj ET Q q 0 0 0 rg BT 174.27 174.50 Td (ork, ) Tj ET Q q 0 0 0 rg BT 193.49 174.50 Td (along ) Tj ET Q q 0 0 0 rg BT 219.11 174.50 Td (with ) Tj ET Q q 0 0 0 rg BT 240.28 174.50 Td (its ) Tj ET Q q 0 0 0 rg BT 253.12 174.50 Td (af) Tj ET Q q 0 0 0 rg BT 260.71 174.50 Td (filiated ) Tj ET Q q 0 0 0 rg BT 292.43 174.50 Td (entities, ) Tj ET Q q 0 0 0 rg BT 326.46 174.50 Td (Anchor ) Tj ET Q q 0 0 0 rg BT 359.84 174.50 Td (Group ) Tj ET Q q 0 0 0 rg BT 388.79 174.50 Td (Management, ) Tj ET Q q 0 0 0 rg BT 446.89 174.50 Td (Plainview ) Tj ET Q q 0 0 0 rg BT 490.28 174.50 Td (Premium ) Tj ET Q q 0 0 0 rg BT 530.34 174.50 Td (Finance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.50 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 162.50 Td (, ) Tj ET Q q 0 0 0 rg BT 92.86 162.50 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 110.25 162.50 Td (and ) Tj ET Q q 0 0 0 rg BT 126.81 162.50 Td (its ) Tj ET Q q 0 0 0 rg BT 138.38 162.50 Td (wholly ) Tj ET Q q 0 0 0 rg BT 168.28 162.50 Td (owned ) Tj ET Q q 0 0 0 rg BT 197.06 162.50 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 240.29 162.50 Td (Plainview ) Tj ET Q q 0 0 0 rg BT 282.41 162.50 Td (Premium ) Tj ET Q q 0 0 0 rg BT 321.19 162.50 Td (Finance ) Tj ET Q q 0 0 0 rg BT 354.97 162.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 395.98 162.50 Td (of ) Tj ET Q q 0 0 0 rg BT 406.43 162.50 Td (California, ) Tj ET Q q 0 0 0 rg BT 451.59 162.50 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 471.48 162.50 Td (or ) Tj ET Q q 0 0 0 rg BT 481.94 162.50 Td (collectively ) Tj ET Q q 0 0 0 rg BT 530.70 162.50 Td ("Global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.50 Td (Liberty", ) Tj ET Q q 0 0 0 rg BT 90.95 150.50 Td (from ) Tj ET Q q 0 0 0 rg BT 115.33 150.50 Td (an ) Tj ET Q q 0 0 0 rg BT 129.70 150.50 Td (unaf) Tj ET Q q 0 0 0 rg BT 147.29 150.50 Td (filiated ) Tj ET Q q 0 0 0 rg BT 180.55 150.50 Td (third ) Tj ET Q q 0 0 0 rg BT 204.37 150.50 Td (party) Tj ET Q q 0 0 0 rg BT 224.27 150.50 Td (. ) Tj ET Q q 0 0 0 rg BT 231.71 150.50 Td (Global ) Tj ET Q q 0 0 0 rg BT 263.86 150.50 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 298.23 150.50 Td (provides ) Tj ET Q q 0 0 0 rg BT 337.61 150.50 Td (specialized ) Tj ET Q q 0 0 0 rg BT 386.96 150.50 Td (commercial ) Tj ET Q q 0 0 0 rg BT 439.10 150.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 482.35 150.50 Td (products, ) Tj ET Q q 0 0 0 rg BT 524.23 150.50 Td (including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.50 Td (commercial ) Tj ET Q q 0 0 0 rg BT 100.05 138.50 Td (automobile ) Tj ET Q q 0 0 0 rg BT 147.89 138.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 189.06 138.50 Td (to ) Tj ET Q q 0 0 0 rg BT 199.69 138.50 Td (niche ) Tj ET Q q 0 0 0 rg BT 224.20 138.50 Td (markets ) Tj ET Q q 0 0 0 rg BT 258.71 138.50 Td (such ) Tj ET Q q 0 0 0 rg BT 279.89 138.50 Td (as ) Tj ET Q q 0 0 0 rg BT 291.08 138.50 Td (taxi, ) Tj ET Q q 0 0 0 rg BT 311.42 138.50 Td (black ) Tj ET Q q 0 0 0 rg BT 335.93 138.50 Td (car ) Tj ET Q q 0 0 0 rg BT 350.99 138.50 Td (and ) Tj ET Q q 0 0 0 rg BT 368.28 138.50 Td (sedan ) Tj ET Q q 0 0 0 rg BT 393.91 138.50 Td (service ) Tj ET Q q 0 0 0 rg BT 425.07 138.50 Td (owners ) Tj ET Q q 0 0 0 rg BT 456.81 138.50 Td (and ) Tj ET Q q 0 0 0 rg BT 474.10 138.50 Td (operators ) Tj ET Q q 0 0 0 rg BT 514.16 138.50 Td (primarily ) Tj ET Q q 0 0 0 rg BT 554.23 138.50 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.50 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 126.50 Td (New ) Tj ET Q q 0 0 0 rg BT 85.73 126.50 Td (Y) Tj ET Q q 0 0 0 rg BT 91.95 126.50 Td (ork ) Tj ET Q q 0 0 0 rg BT 107.78 126.50 Td (market.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 102.50 Td (Global ) Tj ET Q q 0 0 0 rg BT 79.03 102.50 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 110.27 102.50 Td (is ) Tj ET Q q 0 0 0 rg BT 118.75 102.50 Td (a ) Tj ET Q q 0 0 0 rg BT 125.00 102.50 Td (New ) Tj ET Q q 0 0 0 rg BT 145.42 102.50 Td (Y) Tj ET Q q 0 0 0 rg BT 151.64 102.50 Td (ork-based ) Tj ET Q q 0 0 0 rg BT 192.88 102.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 233.00 102.50 Td (company ) Tj ET Q q 0 0 0 rg BT 271.46 102.50 Td (that ) Tj ET Q q 0 0 0 rg BT 288.27 102.50 Td (was ) Tj ET Q q 0 0 0 rg BT 305.63 102.50 Td (writing ) Tj ET Q q 0 0 0 rg BT 336.33 102.50 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.89 102.50 Td ($40.0 ) Tj ET Q q 0 0 0 rg BT 420.20 102.50 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.09 102.50 Td ( ) Tj ET Q q 0 0 0 rg BT 450.90 102.50 Td (of ) Tj ET Q q 0 0 0 rg BT 461.04 102.50 Td (annual ) Tj ET Q q 0 0 0 rg BT 489.51 102.50 Td (taxi ) Tj ET Q q 0 0 0 rg BT 506.31 102.50 Td (and ) Tj ET Q q 0 0 0 rg BT 522.56 102.50 Td (limousine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.50 Td (net ) Tj ET Q q 0 0 0 rg BT 64.55 90.50 Td (written ) Tj ET Q q 0 0 0 rg BT 95.21 90.50 Td (premium ) Tj ET Q q 0 0 0 rg BT 133.64 90.50 Td (in ) Tj ET Q q 0 0 0 rg BT 143.75 90.50 Td (states ) Tj ET Q q 0 0 0 rg BT 168.30 90.50 Td (deemed ) Tj ET Q q 0 0 0 rg BT 201.72 90.50 Td (favorable ) Tj ET Q q 0 0 0 rg BT 241.81 90.50 Td (to ) Tj ET Q q 0 0 0 rg BT 251.40 90.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 274.84 90.50 Td (at ) Tj ET Q q 0 0 0 rg BT 284.39 90.50 Td (the ) Tj ET Q q 0 0 0 rg BT 298.94 90.50 Td (time ) Tj ET Q q 0 0 0 rg BT 319.05 90.50 Td (of ) Tj ET Q q 0 0 0 rg BT 329.71 90.50 Td (our ) Tj ET Q q 0 0 0 rg BT 345.37 90.50 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 394.08 90.50 Td (Global ) Tj ET Q q 0 0 0 rg BT 423.63 90.50 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 455.40 90.50 Td (is ) Tj ET Q q 0 0 0 rg BT 464.40 90.50 Td (an ) Tj ET Q q 0 0 0 rg BT 476.17 90.50 Td (admitted ) Tj ET Q q 0 0 0 rg BT 513.49 90.50 Td (carrier ) Tj ET Q q 0 0 0 rg BT 541.90 90.50 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.01 90.50 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.01 90.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.50 Td (states ) Tj ET Q q 0 0 0 rg BT 74.34 78.50 Td (plus ) Tj ET Q q 0 0 0 rg BT 93.14 78.50 Td (the ) Tj ET Q q 0 0 0 rg BT 107.49 78.50 Td (District ) Tj ET Q q 0 0 0 rg BT 139.61 78.50 Td (of ) Tj ET Q q 0 0 0 rg BT 150.07 78.50 Td (Columbia. ) Tj ET Q q 0 0 0 rg BT 193.67 78.50 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 218.71 78.50 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 264.72 78.50 Td (of ) Tj ET Q q 0 0 0 rg BT 275.18 78.50 Td (Global ) Tj ET Q q 0 0 0 rg BT 304.52 78.50 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 336.08 78.50 Td (will ) Tj ET Q q 0 0 0 rg BT 353.77 78.50 Td (expand ) Tj ET Q q 0 0 0 rg BT 384.77 78.50 Td (our ) Tj ET Q q 0 0 0 rg BT 400.23 78.50 Td (distribution ) Tj ET Q q 0 0 0 rg BT 448.47 78.50 Td (channel ) Tj ET Q q 0 0 0 rg BT 481.69 78.50 Td (for ) Tj ET Q q 0 0 0 rg BT 495.48 78.50 Td (core ) Tj ET Q q 0 0 0 rg BT 514.82 78.50 Td (commercial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.50 Td (automobile ) Tj ET Q q 0 0 0 rg BT 97.49 66.50 Td (lines. ) Tj ET Q endstream endobj 127 0 obj <> endobj 128 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 78.03 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 93.29 742.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 118.54 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 129.91 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.17 742.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 169.32 742.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 207.89 742.10 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 255.07 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 270.33 742.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 308.91 742.10 Td (price ) Tj ET Q q 0 0 0 rg BT 331.93 742.10 Td (will ) Tj ET Q q 0 0 0 rg BT 350.53 742.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 375.22 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 390.48 742.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 432.95 742.10 Td (book ) Tj ET Q q 0 0 0 rg BT 455.99 742.10 Td (value ) Tj ET Q q 0 0 0 rg BT 480.69 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 492.06 742.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 522.31 742.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 554.79 742.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (December ) Tj ET Q q 0 0 0 rg BT 93.11 730.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 107.64 730.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 132.16 730.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 162.51 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 172.32 730.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 201.55 730.10 Td (pre ) Tj ET Q q 0 0 0 rg BT 216.34 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.81 730.10 Td (post-closing ) Tj ET Q q 0 0 0 rg BT 283.72 730.10 Td (adjustments, ) Tj ET Q q 0 0 0 rg BT 336.02 730.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 378.32 730.10 Td (among ) Tj ET Q q 0 0 0 rg BT 407.56 730.10 Td (others, ) Tj ET Q q 0 0 0 rg BT 436.53 730.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 460.77 730.10 Td (development ) Tj ET Q q 0 0 0 rg BT 514.44 730.10 Td (between ) Tj ET Q q 0 0 0 rg BT 549.79 730.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (signing ) Tj ET Q q 0 0 0 rg BT 82.21 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.30 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 108.28 718.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 132.15 718.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 170.45 718.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 214.85 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.05 718.10 Td (December ) Tj ET Q q 0 0 0 rg BT 275.89 718.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 291.15 718.10 Td (2014. ) Tj ET Q q 0 0 0 rg BT 315.81 718.10 Td (Additional ) Tj ET Q q 0 0 0 rg BT 361.34 718.10 Td (consideration, ) Tj ET Q q 0 0 0 rg BT 420.47 718.10 Td (principally ) Tj ET Q q 0 0 0 rg BT 466.56 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 477.10 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 492.07 718.10 Td (form ) Tj ET Q q 0 0 0 rg BT 514.27 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 525.36 718.10 Td (preferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 80.11 706.10 Td (may ) Tj ET Q q 0 0 0 rg BT 99.95 706.10 Td (be ) Tj ET Q q 0 0 0 rg BT 112.01 706.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 131.85 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 142.25 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.08 706.10 Td (seller) Tj ET Q q 0 0 0 rg BT 178.34 706.10 Td (, ) Tj ET Q q 0 0 0 rg BT 183.46 706.10 Td (or ) Tj ET Q q 0 0 0 rg BT 194.41 706.10 Td (returned ) Tj ET Q q 0 0 0 rg BT 230.35 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 240.75 706.10 Td (us ) Tj ET Q q 0 0 0 rg BT 252.26 706.10 Td (by ) Tj ET Q q 0 0 0 rg BT 264.88 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 279.72 706.10 Td (seller) Tj ET Q q 0 0 0 rg BT 300.97 706.10 Td (, ) Tj ET Q q 0 0 0 rg BT 306.09 706.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 350.37 706.10 Td (upon, ) Tj ET Q q 0 0 0 rg BT 375.49 706.10 Td (among ) Tj ET Q q 0 0 0 rg BT 405.33 706.10 Td (other ) Tj ET Q q 0 0 0 rg BT 428.50 706.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 458.07 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.91 706.10 Td (future ) Tj ET Q q 0 0 0 rg BT 499.40 706.10 Td (development ) Tj ET Q q 0 0 0 rg BT 553.67 706.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 79.20 694.10 Td (Liberty) Tj ET Q q 0 0 0 rg BT 111.41 694.10 Td (s ) Tj ET Q q 0 0 0 rg BT 117.29 694.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 143.14 694.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 160.69 694.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 195.43 694.10 Td (for ) Tj ET Q q 0 0 0 rg BT 209.08 694.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 238.26 694.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 259.13 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 269.45 694.10 Td (business ) Tj ET Q q 0 0 0 rg BT 305.32 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 321.74 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 335.95 694.10 Td (utilization ) Tj ET Q q 0 0 0 rg BT 378.48 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 388.79 694.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 417.98 694.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 453.27 694.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 467.47 694.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 492.78 694.10 Td (over ) Tj ET Q q 0 0 0 rg BT 512.53 694.10 Td (time. ) Tj ET Q q 0 0 0 rg BT 534.79 694.10 Td (Global ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 81.93 682.10 Td (also ) Tj ET Q q 0 0 0 rg BT 100.54 682.10 Td (wrote ) Tj ET Q q 0 0 0 rg BT 125.81 682.10 Td (homeowners ) Tj ET Q q 0 0 0 rg BT 179.41 682.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 220.22 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 230.50 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 245.22 682.10 Td (northeast, ) Tj ET Q q 0 0 0 rg BT 286.88 682.10 Td (which ) Tj ET Q q 0 0 0 rg BT 313.81 682.10 Td (has ) Tj ET Q q 0 0 0 rg BT 329.64 682.10 Td (been ) Tj ET Q q 0 0 0 rg BT 351.02 682.10 Td (non-renewed ) Tj ET Q q 0 0 0 rg BT 405.72 682.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 427.66 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 437.93 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 452.65 682.10 Td (transaction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.82 658.10 Td (total ) Tj ET Q q 0 0 0 rg BT 87.87 658.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 125.69 658.10 Td (price ) Tj ET Q q 0 0 0 rg BT 147.95 658.10 Td (for ) Tj ET Q q 0 0 0 rg BT 161.89 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.38 658.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 218.09 658.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 249.25 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 259.86 658.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 289.35 658.10 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 321.06 658.10 Td (is ) Tj ET Q q 0 0 0 rg BT 330.01 658.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 370.60 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 380.66 658.10 Td (be ) Tj ET Q q 0 0 0 rg BT 392.38 658.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.41 658.10 Td ($24.7 ) Tj ET Q q 0 0 0 rg BT 477.19 658.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.08 658.10 Td (, ) Tj ET Q q 0 0 0 rg BT 510.86 658.10 Td (consisting ) Tj ET Q q 0 0 0 rg BT 553.69 658.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (a ) Tj ET Q q 0 0 0 rg BT 57.67 646.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 110.89 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 122.45 646.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 143.44 646.10 Td (and ) Tj ET Q q 0 0 0 rg BT 160.40 646.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 184.74 646.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 224.60 646.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 255.32 646.10 Td (Consideration ) Tj ET Q q 0 0 0 rg BT 314.65 646.10 Td (will ) Tj ET Q q 0 0 0 rg BT 333.44 646.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 364.44 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 376.00 646.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.99 646.10 Td ($20.7 ) Tj ET Q q 0 0 0 rg BT 462.72 646.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.61 646.10 Td ( ) Tj ET Q q 0 0 0 rg BT 494.84 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 505.85 646.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 526.85 646.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.51 646.10 Td ($4.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 80.77 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 90.56 634.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 113.54 634.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 152.06 634.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 178.92 634.10 Td (\(consisting ) Tj ET Q q 0 0 0 rg BT 224.69 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 234.89 634.10 Td (a ) Tj ET Q q 0 0 0 rg BT 241.21 634.10 Td (total ) Tj ET Q q 0 0 0 rg BT 260.86 634.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.06 634.10 Td (4,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.06 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 312.94 634.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 351.45 634.10 Td (shares\). ) Tj ET Q q 0 0 0 rg BT 384.01 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 392.65 634.10 Td (e ) Tj ET Q q 0 0 0 rg BT 398.97 634.10 Td (will ) Tj ET Q q 0 0 0 rg BT 416.40 634.10 Td (have ) Tj ET Q q 0 0 0 rg BT 437.15 634.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 483.45 634.10 Td (protections ) Tj ET Q q 0 0 0 rg BT 529.76 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 539.41 634.10 Td (of) Tj ET Q q 0 0 0 rg BT 547.56 634.10 Td (fset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (up ) Tj ET Q q 0 0 0 rg BT 62.50 622.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.78 622.10 Td ($4.0 ) Tj ET Q q 0 0 0 rg BT 92.78 622.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.67 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.17 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 135.00 622.10 Td (future ) Tj ET Q q 0 0 0 rg BT 161.38 622.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 194.41 622.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 225.78 622.10 Td (development. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.24 598.10 Td (values ) Tj ET Q q 0 0 0 rg BT 94.48 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.51 598.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 133.40 598.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 158.43 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 174.56 598.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 213.47 598.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 249.59 598.10 Td (are ) Tj ET Q q 0 0 0 rg BT 263.49 598.10 Td (preliminary ) Tj ET Q q 0 0 0 rg BT 311.84 598.10 Td (in ) Tj ET Q q 0 0 0 rg BT 321.31 598.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 347.99 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 364.12 598.10 Td (are ) Tj ET Q q 0 0 0 rg BT 378.02 598.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 408.04 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 417.51 598.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 463.09 598.10 Td (as ) Tj ET Q q 0 0 0 rg BT 473.12 598.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 514.80 598.10 Td (information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (is ) Tj ET Q q 0 0 0 rg BT 59.37 586.10 Td (obtained, ) Tj ET Q q 0 0 0 rg BT 99.01 586.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 141.98 586.10 Td (but ) Tj ET Q q 0 0 0 rg BT 157.47 586.10 Td (not ) Tj ET Q q 0 0 0 rg BT 172.95 586.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 203.98 586.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 216.96 586.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 256.88 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 267.91 586.10 Td (separately ) Tj ET Q q 0 0 0 rg BT 311.14 586.10 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 359.38 586.10 Td (intangibles, ) Tj ET Q q 0 0 0 rg BT 408.47 586.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 431.72 586.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 460.25 586.10 Td (etc.. ) Tj ET Q q 0 0 0 rg BT 479.41 586.10 Td (These ) Tj ET Q q 0 0 0 rg BT 505.99 586.10 Td (valuations ) Tj ET Q q 0 0 0 rg BT 549.80 586.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.96 574.10 Td (be ) Tj ET Q q 0 0 0 rg BT 73.58 574.10 Td (finalized ) Tj ET Q q 0 0 0 rg BT 111.75 574.10 Td (within ) Tj ET Q q 0 0 0 rg BT 140.49 574.10 Td (one ) Tj ET Q q 0 0 0 rg BT 158.11 574.10 Td (year ) Tj ET Q q 0 0 0 rg BT 178.50 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.01 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 205.42 574.10 Td (close ) Tj ET Q q 0 0 0 rg BT 229.15 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 240.66 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 256.06 574.10 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 305.63 574.10 Td ( ) Tj ET Q q 0 0 0 rg BT 308.58 574.10 Td (When ) Tj ET Q q 0 0 0 rg BT 335.64 574.10 Td (valuations ) Tj ET Q q 0 0 0 rg BT 379.93 574.10 Td (are ) Tj ET Q q 0 0 0 rg BT 395.32 574.10 Td (finalized, ) Tj ET Q q 0 0 0 rg BT 435.98 574.10 Td (any ) Tj ET Q q 0 0 0 rg BT 453.60 574.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 488.99 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 499.96 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 515.36 574.10 Td (preliminary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 89.71 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 100.54 562.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 126.37 562.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 163.30 562.10 Td (or ) Tj ET Q q 0 0 0 rg BT 174.13 562.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 213.84 562.10 Td (assumed ) Tj ET Q q 0 0 0 rg BT 250.78 562.10 Td (may ) Tj ET Q q 0 0 0 rg BT 270.50 562.10 Td (result ) Tj ET Q q 0 0 0 rg BT 295.21 562.10 Td (in ) Tj ET Q q 0 0 0 rg BT 305.49 562.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 355.77 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 366.04 562.10 Td (separately ) Tj ET Q q 0 0 0 rg BT 409.08 562.10 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 457.11 562.10 Td (intangibles ) Tj ET Q q 0 0 0 rg BT 503.50 562.10 Td (or ) Tj ET Q q 0 0 0 rg BT 514.33 562.10 Td (goodwill. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.61 538.10 Td (incurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.42 538.10 Td ($694,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.92 538.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.42 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 159.70 538.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 206.07 538.10 Td (related ) Tj ET Q q 0 0 0 rg BT 235.78 538.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 274.38 538.10 Td (during ) Tj ET Q q 0 0 0 rg BT 302.98 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 317.70 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 332.42 538.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 359.36 538.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 390.17 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 401.00 538.10 Td (2014. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.34 514.10 Td (January ) Tj ET Q q 0 0 0 rg BT 97.56 514.10 Td (2, ) Tj ET Q q 0 0 0 rg BT 107.18 514.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 129.30 514.10 Td (we ) Tj ET Q q 0 0 0 rg BT 143.08 514.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 179.62 514.10 Td (Camelot ) Tj ET Q q 0 0 0 rg BT 215.62 514.10 Td (Services, ) Tj ET Q q 0 0 0 rg BT 254.12 514.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 271.50 514.10 Td (\("Camelot ) Tj ET Q q 0 0 0 rg BT 314.92 514.10 Td (Services"\), ) Tj ET Q q 0 0 0 rg BT 360.83 514.10 Td (a ) Tj ET Q q 0 0 0 rg BT 367.38 514.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 405.04 514.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 433.82 514.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 474.26 514.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 506.93 514.10 Td (company) Tj ET Q q 0 0 0 rg BT 542.94 514.10 Td (, ) Tj ET Q q 0 0 0 rg BT 547.56 514.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (its ) Tj ET Q q 0 0 0 rg BT 60.92 502.10 Td (sole ) Tj ET Q q 0 0 0 rg BT 78.50 502.10 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 118.96 502.10 Td (, ) Tj ET Q q 0 0 0 rg BT 122.93 502.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 159.94 502.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 200.28 502.10 Td (Company) Tj ET Q q 0 0 0 rg BT 238.51 502.10 Td (, ) Tj ET Q q 0 0 0 rg BT 242.48 502.10 Td (or ) Tj ET Q q 0 0 0 rg BT 252.29 502.10 Td (Gateway) Tj ET Q q 0 0 0 rg BT 287.17 502.10 Td (, ) Tj ET Q q 0 0 0 rg BT 291.14 502.10 Td (from ) Tj ET Q q 0 0 0 rg BT 312.05 502.10 Td (Hendricks ) Tj ET Q q 0 0 0 rg BT 354.62 502.10 Td (Holding ) Tj ET Q q 0 0 0 rg BT 388.87 502.10 Td (Company) Tj ET Q q 0 0 0 rg BT 427.11 502.10 Td (, ) Tj ET Q q 0 0 0 rg BT 431.08 502.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 450.32 502.10 Td (or ) Tj ET Q q 0 0 0 rg BT 460.12 502.10 Td (Hendricks, ) Tj ET Q q 0 0 0 rg BT 505.19 502.10 Td (an ) Tj ET Q q 0 0 0 rg BT 516.10 502.10 Td (unaf) Tj ET Q q 0 0 0 rg BT 533.69 502.10 Td (filiated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (third ) Tj ET Q q 0 0 0 rg BT 71.67 490.10 Td (party) Tj ET Q q 0 0 0 rg BT 91.57 490.10 Td (. ) Tj ET Q q 0 0 0 rg BT 96.85 490.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 135.17 490.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 172.39 490.10 Td (specialized ) Tj ET Q q 0 0 0 rg BT 219.59 490.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 269.57 490.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 310.67 490.10 Td (products, ) Tj ET Q q 0 0 0 rg BT 350.39 490.10 Td (including ) Tj ET Q q 0 0 0 rg BT 390.94 490.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 440.92 490.10 Td (automobile ) Tj ET Q q 0 0 0 rg BT 488.70 490.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 529.79 490.10 Td (to ) Tj ET Q q 0 0 0 rg BT 540.35 490.10 Td (niche ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 84.16 478.10 Td (such ) Tj ET Q q 0 0 0 rg BT 104.99 478.10 Td (as ) Tj ET Q q 0 0 0 rg BT 115.82 478.10 Td (taxi, ) Tj ET Q q 0 0 0 rg BT 135.81 478.10 Td (black ) Tj ET Q q 0 0 0 rg BT 159.97 478.10 Td (car ) Tj ET Q q 0 0 0 rg BT 174.67 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 191.61 478.10 Td (sedan ) Tj ET Q q 0 0 0 rg BT 216.88 478.10 Td (service ) Tj ET Q q 0 0 0 rg BT 247.70 478.10 Td (owners ) Tj ET Q q 0 0 0 rg BT 279.08 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 296.02 478.10 Td (operators.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 77.27 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 91.78 454.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 116.28 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 126.89 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 141.39 454.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 164.78 454.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 202.61 454.10 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 249.03 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 263.53 454.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 301.35 454.10 Td (price ) Tj ET Q q 0 0 0 rg BT 323.62 454.10 Td (equaled ) Tj ET Q q 0 0 0 rg BT 357.00 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 371.50 454.10 Td (tangible ) Tj ET Q q 0 0 0 rg BT 406.00 454.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 432.85 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 435.14 454.10 Td (book ) Tj ET Q q 0 0 0 rg BT 457.42 454.10 Td (value ) Tj ET Q q 0 0 0 rg BT 481.36 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 491.97 454.10 Td (Camelot ) Tj ET Q q 0 0 0 rg BT 528.14 454.10 Td (Services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (at ) Tj ET Q q 0 0 0 rg BT 59.56 442.10 Td (December ) Tj ET Q q 0 0 0 rg BT 102.98 442.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 117.82 442.10 Td (2012, ) Tj ET Q q 0 0 0 rg BT 142.66 442.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 173.32 442.10 Td (to ) Tj ET Q q 0 0 0 rg BT 183.44 442.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 212.98 442.10 Td (pre ) Tj ET Q q 0 0 0 rg BT 228.09 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 244.86 442.10 Td (post-closing ) Tj ET Q q 0 0 0 rg BT 296.09 442.10 Td (adjustments, ) Tj ET Q q 0 0 0 rg BT 348.70 442.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 391.31 442.10 Td (among ) Tj ET Q q 0 0 0 rg BT 420.87 442.10 Td (others, ) Tj ET Q q 0 0 0 rg BT 450.15 442.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 474.70 442.10 Td (development ) Tj ET Q q 0 0 0 rg BT 528.69 442.10 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.99 430.10 Td (signing ) Tj ET Q q 0 0 0 rg BT 95.21 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 105.32 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.31 430.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 142.19 430.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 179.50 430.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 222.92 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 239.13 430.10 Td (December ) Tj ET Q q 0 0 0 rg BT 281.99 430.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 296.26 430.10 Td (2012. ) Tj ET Q q 0 0 0 rg BT 320.14 430.10 Td (Additional ) Tj ET Q q 0 0 0 rg BT 364.69 430.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 420.34 430.10 Td (may ) Tj ET Q q 0 0 0 rg BT 439.33 430.10 Td (be ) Tj ET Q q 0 0 0 rg BT 450.54 430.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 469.53 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 479.08 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 493.07 430.10 Td (seller) Tj ET Q q 0 0 0 rg BT 514.33 430.10 Td (, ) Tj ET Q q 0 0 0 rg BT 518.60 430.10 Td (or ) Tj ET Q q 0 0 0 rg BT 528.71 430.10 Td (returned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.89 418.10 Td (us ) Tj ET Q q 0 0 0 rg BT 70.90 418.10 Td (by ) Tj ET Q q 0 0 0 rg BT 83.01 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 97.34 418.10 Td (seller) Tj ET Q q 0 0 0 rg BT 118.60 418.10 Td (, ) Tj ET Q q 0 0 0 rg BT 123.21 418.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 166.98 418.10 Td (upon, ) Tj ET Q q 0 0 0 rg BT 191.60 418.10 Td (among ) Tj ET Q q 0 0 0 rg BT 220.93 418.10 Td (other ) Tj ET Q q 0 0 0 rg BT 243.59 418.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 272.65 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 286.98 418.10 Td (future ) Tj ET Q q 0 0 0 rg BT 312.97 418.10 Td (development ) Tj ET Q q 0 0 0 rg BT 366.74 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 377.18 418.10 Td (Gateway) Tj ET Q q 0 0 0 rg BT 415.50 418.10 Td (s ) Tj ET Q q 0 0 0 rg BT 421.50 418.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 447.49 418.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 465.17 418.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 500.04 418.10 Td (for ) Tj ET Q q 0 0 0 rg BT 513.81 418.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 543.13 418.10 Td (lines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.44 406.10 Td (business ) Tj ET Q q 0 0 0 rg BT 98.45 406.10 Td (and ) Tj ET Q q 0 0 0 rg BT 116.00 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.33 406.10 Td (utilization ) Tj ET Q q 0 0 0 rg BT 174.99 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 186.43 406.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 216.75 406.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 253.16 406.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 268.49 406.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 294.94 406.10 Td (over ) Tj ET Q q 0 0 0 rg BT 315.82 406.10 Td (time. ) Tj ET Q q 0 0 0 rg BT 339.20 406.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 377.85 406.10 Td (also ) Tj ET Q q 0 0 0 rg BT 397.08 406.10 Td (writes ) Tj ET Q q 0 0 0 rg BT 424.63 406.10 Td (workers) Tj ET Q q 0 0 0 rg BT 459.43 406.10 Td ( ) Tj ET Q q 0 0 0 rg BT 462.54 406.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 521.19 406.10 Td (insurance. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (However) Tj ET Q q 0 0 0 rg BT 86.25 394.10 Td (, ) Tj ET Q q 0 0 0 rg BT 91.69 394.10 Td (an ) Tj ET Q q 0 0 0 rg BT 104.08 394.10 Td (indemnity ) Tj ET Q q 0 0 0 rg BT 147.57 394.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 196.60 394.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 241.18 394.10 Td (was ) Tj ET Q q 0 0 0 rg BT 259.68 394.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 292.04 394.10 Td (into ) Tj ET Q q 0 0 0 rg BT 310.54 394.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 347.93 394.10 Td (to ) Tj ET Q q 0 0 0 rg BT 358.65 394.10 Td (which ) Tj ET Q q 0 0 0 rg BT 386.03 394.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 412.30 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 423.58 394.10 Td (Gateway) Tj ET Q q 0 0 0 rg BT 461.89 394.10 Td (s ) Tj ET Q q 0 0 0 rg BT 468.73 394.10 Td (workers) Tj ET Q q 0 0 0 rg BT 503.53 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 506.47 394.10 Td (compensation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (business ) Tj ET Q q 0 0 0 rg BT 86.39 382.10 Td (was ) Tj ET Q q 0 0 0 rg BT 104.44 382.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 130.26 382.10 Td (to ) Tj ET Q q 0 0 0 rg BT 140.54 382.10 Td (a ) Tj ET Q q 0 0 0 rg BT 147.48 382.10 Td (third ) Tj ET Q q 0 0 0 rg BT 168.86 382.10 Td (party ) Tj ET Q q 0 0 0 rg BT 191.91 382.10 Td (captive ) Tj ET Q q 0 0 0 rg BT 223.28 382.10 Td (reinsurer ) Tj ET Q q 0 0 0 rg BT 261.32 382.10 Td (funded ) Tj ET Q q 0 0 0 rg BT 291.59 382.10 Td (by ) Tj ET Q q 0 0 0 rg BT 304.09 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 318.80 382.10 Td (seller ) Tj ET Q q 0 0 0 rg BT 342.96 382.10 Td (as ) Tj ET Q q 0 0 0 rg BT 353.79 382.10 Td (part ) Tj ET Q q 0 0 0 rg BT 371.84 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 382.67 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 397.38 382.10 Td (transaction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.30 358.10 Td (total ) Tj ET Q q 0 0 0 rg BT 88.83 358.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 127.12 358.10 Td (price ) Tj ET Q q 0 0 0 rg BT 149.86 358.10 Td (for ) Tj ET Q q 0 0 0 rg BT 164.27 358.10 Td (all ) Tj ET Q q 0 0 0 rg BT 177.02 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 188.11 358.10 Td (Camelot ) Tj ET Q q 0 0 0 rg BT 224.74 358.10 Td (Services) Tj ET Q q 0 0 0 rg BT 261.21 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 263.96 358.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 313.38 358.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 341.12 358.10 Td (was ) Tj ET Q q 0 0 0 rg BT 359.43 358.10 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.43 358.10 Td (14.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.93 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 384.68 358.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 418.83 358.10 Td (consisting ) Tj ET Q q 0 0 0 rg BT 462.14 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 473.22 358.10 Td (a ) Tj ET Q q 0 0 0 rg BT 480.42 358.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 533.16 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 544.24 358.10 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.25 346.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 89.68 346.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 128.64 346.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 158.45 346.10 Td (Consideration ) Tj ET Q q 0 0 0 rg BT 216.88 346.10 Td (consisted ) Tj ET Q q 0 0 0 rg BT 256.42 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 267.07 346.10 Td (a ) Tj ET Q q 0 0 0 rg BT 273.83 346.10 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.83 346.10 Td (6.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.33 346.10 Td ( ) Tj ET Q q 0 0 0 rg BT 293.66 346.10 Td (million ) Tj ET Q q 0 0 0 rg BT 324.87 346.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 362.19 346.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 381.73 346.10 Td (by ) Tj ET Q q 0 0 0 rg BT 394.05 346.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 431.92 346.10 Td (immediately ) Tj ET Q q 0 0 0 rg BT 484.22 346.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 505.99 346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 516.09 346.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.63 346.10 Td (closing, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.00 334.10 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 334.10 Td ( ) Tj ET Q q 0 0 0 rg BT 69.76 334.10 Td (million ) Tj ET Q q 0 0 0 rg BT 100.92 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 111.02 334.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 134.39 334.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 173.29 334.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 200.54 334.10 Td (\(consisting ) Tj ET Q q 0 0 0 rg BT 246.70 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 257.29 334.10 Td (a ) Tj ET Q q 0 0 0 rg BT 263.99 334.10 Td (total ) Tj ET Q q 0 0 0 rg BT 284.03 334.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.63 334.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 301.89 334.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.78 334.10 Td ( ) Tj ET Q q 0 0 0 rg BT 333.05 334.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 371.95 334.10 Td (shares\) ) Tj ET Q q 0 0 0 rg BT 402.53 334.10 Td (and ) Tj ET Q q 0 0 0 rg BT 419.24 334.10 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.24 334.10 Td (6.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.74 334.10 Td ( ) Tj ET Q q 0 0 0 rg BT 439.00 334.10 Td (million ) Tj ET Q q 0 0 0 rg BT 470.16 334.10 Td (in ) Tj ET Q q 0 0 0 rg BT 480.20 334.10 Td (cash. ) Tj ET Q q 0 0 0 rg BT 502.57 334.10 Td (The ) Tj ET Q q 0 0 0 rg BT 520.38 334.10 Td (agreement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 86.22 322.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 133.54 322.10 Td (protections ) Tj ET Q q 0 0 0 rg BT 180.87 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 191.54 322.10 Td (of) Tj ET Q q 0 0 0 rg BT 199.69 322.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 217.03 322.10 Td (up ) Tj ET Q q 0 0 0 rg BT 229.93 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 240.60 322.10 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.60 322.10 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.10 322.10 Td ( ) Tj ET Q q 0 0 0 rg BT 261.00 322.10 Td (million ) Tj ET Q q 0 0 0 rg BT 292.79 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 304.01 322.10 Td (future ) Tj ET Q q 0 0 0 rg BT 330.79 322.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 362.55 322.10 Td (development. ) Tj ET Q q 0 0 0 rg BT 419.39 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 428.03 322.10 Td (e ) Tj ET Q q 0 0 0 rg BT 435.36 322.10 Td (have ) Tj ET Q q 0 0 0 rg BT 457.14 322.10 Td (also ) Tj ET Q q 0 0 0 rg BT 476.14 322.10 Td (agreed ) Tj ET Q q 0 0 0 rg BT 505.68 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 516.36 322.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 549.80 322.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (sellers ) Tj ET Q q 0 0 0 rg BT 78.05 310.10 Td (up ) Tj ET Q q 0 0 0 rg BT 90.55 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 100.83 310.10 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.83 310.10 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.33 310.10 Td ( ) Tj ET Q q 0 0 0 rg BT 120.83 310.10 Td (million ) Tj ET Q q 0 0 0 rg BT 152.22 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 162.50 310.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 204.99 310.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 261.36 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 271.64 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 286.35 310.10 Td (event ) Tj ET Q q 0 0 0 rg BT 310.51 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 321.34 310.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 361.59 310.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 392.96 310.10 Td (development.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (The ) Tj ET Q q 0 0 0 rg BT 69.35 286.10 Td (following ) Tj ET Q q 0 0 0 rg BT 112.04 286.10 Td (table ) Tj ET Q q 0 0 0 rg BT 135.28 286.10 Td (presents ) Tj ET Q q 0 0 0 rg BT 171.85 286.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 198.99 286.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 237.22 286.10 Td (and ) Tj ET Q q 0 0 0 rg BT 255.46 286.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 296.48 286.10 Td (assumed ) Tj ET Q q 0 0 0 rg BT 334.73 286.10 Td (from ) Tj ET Q q 0 0 0 rg BT 357.97 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 373.99 286.10 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 413.33 286.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 461.02 286.10 Td (based ) Tj ET Q q 0 0 0 rg BT 487.59 286.10 Td (on ) Tj ET Q q 0 0 0 rg BT 501.40 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.42 286.10 Td (Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (assessment ) Tj ET Q q 0 0 0 rg BT 96.94 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.77 274.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 124.15 274.10 Td (value ) Tj ET Q q 0 0 0 rg BT 148.30 274.10 Td (as ) Tj ET Q q 0 0 0 rg BT 159.13 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 169.96 274.10 Td (January ) Tj ET Q q 0 0 0 rg BT 203.56 274.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 213.56 274.10 Td (2013: ) Tj ET Q endstream endobj 129 0 obj <> endobj 130 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (64) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 748.50 416.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 748.50 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 721.50 416.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 721.50 93.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 697.50 416.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 697.50 93.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 681.50 416.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 681.50 93.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 665.50 416.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 665.50 93.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 636.50 416.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 636.50 93.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 611.50 416.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 611.50 93.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 587.50 416.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 587.50 93.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 566.50 416.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 566.50 93.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 542.50 416.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 542.50 93.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 518.50 416.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 518.50 93.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 697.5 m 560 697.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 686.5 m 560 686.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 684.5 m 560 684.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 587.5 m 560 587.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 570.5 m 560 570.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 530.5 m 560 530.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 518.5 m 560 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 518.5 m 560 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 506.5 m 560 506.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 506.5 m 560 506.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 467 494.5 m 560 494.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.50 738.18 Td (\(in '000s\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.50 724.23 Td (Purchase Consideration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 712.12 Td (Cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.50 712.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 712.12 Td (12,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 700.12 Td (Preferred stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 700.12 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 688.12 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.50 688.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 688.12 Td (14,282) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.50 672.23 Td (Allocation of Purchase Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 654.17 Td (Cash and investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.50 654.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 654.17 Td (45,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 640.07 Td (Accounts receivable and other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 640.07 Td (9,249) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 627.07 Td (Reinsurance recoverables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 627.07 Td (6,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 614.12 Td (Intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 614.12 Td (740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 602.12 Td (Property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 602.12 Td (923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 590.12 Td (Deferred policy acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 590.12 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 575.17 Td (Total Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.50 575.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 575.17 Td (63,574) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 557.12 Td (Claims liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.50 557.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 557.12 Td (36,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 545.12 Td (Unearned premiums) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 545.12 Td (9,601) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 533.12 Td (Accounts payable and other liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.65 533.12 Td (3,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 521.12 Td (Total Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.50 521.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 521.12 Td (49,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.50 497.12 Td (Net assets acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.50 497.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.65 497.12 Td (14,282) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 473.00 Td (The ) Tj ET Q q 0 0 0 rg BT 68.01 473.00 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 114.36 473.00 Td (of ) Tj ET Q q 0 0 0 rg BT 125.15 473.00 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 163.16 473.00 Td (resulted ) Tj ET Q q 0 0 0 rg BT 197.28 473.00 Td (in ) Tj ET Q q 0 0 0 rg BT 207.52 473.00 Td (the ) Tj ET Q q 0 0 0 rg BT 222.20 473.00 Td (recognition ) Tj ET Q q 0 0 0 rg BT 270.21 473.00 Td (of ) Tj ET Q q 0 0 0 rg BT 281.00 473.00 Td (intangible ) Tj ET Q q 0 0 0 rg BT 323.46 473.00 Td (assets, ) Tj ET Q q 0 0 0 rg BT 351.75 473.00 Td (comprised ) Tj ET Q q 0 0 0 rg BT 395.87 473.00 Td (entirely ) Tj ET Q q 0 0 0 rg BT 428.88 473.00 Td (of ) Tj ET Q q 0 0 0 rg BT 439.67 473.00 Td (state ) Tj ET Q q 0 0 0 rg BT 460.46 473.00 Td (insurance ) Tj ET Q q 0 0 0 rg BT 501.24 473.00 Td (licenses ) Tj ET Q q 0 0 0 rg BT 535.36 473.00 Td (valued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 461.00 Td (at ) Tj ET Q q 0 0 0 rg BT 59.91 461.00 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.91 461.00 Td (740,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.41 461.00 Td (. ) Tj ET Q q 0 0 0 rg BT 102.41 461.00 Td (The ) Tj ET Q q 0 0 0 rg BT 120.65 461.00 Td (state ) Tj ET Q q 0 0 0 rg BT 141.67 461.00 Td (insurance ) Tj ET Q q 0 0 0 rg BT 182.67 461.00 Td (licenses ) Tj ET Q q 0 0 0 rg BT 217.02 461.00 Td (are ) Tj ET Q q 0 0 0 rg BT 231.92 461.00 Td (considered ) Tj ET Q q 0 0 0 rg BT 277.93 461.00 Td (to ) Tj ET Q q 0 0 0 rg BT 288.40 461.00 Td (have ) Tj ET Q q 0 0 0 rg BT 309.97 461.00 Td (an ) Tj ET Q q 0 0 0 rg BT 322.10 461.00 Td (infinite ) Tj ET Q q 0 0 0 rg BT 353.68 461.00 Td (life ) Tj ET Q q 0 0 0 rg BT 369.70 461.00 Td (and ) Tj ET Q q 0 0 0 rg BT 386.83 461.00 Td (will ) Tj ET Q q 0 0 0 rg BT 405.08 461.00 Td (not ) Tj ET Q q 0 0 0 rg BT 420.55 461.00 Td (be ) Tj ET Q q 0 0 0 rg BT 432.68 461.00 Td (amortized, ) Tj ET Q q 0 0 0 rg BT 477.85 461.00 Td (but ) Tj ET Q q 0 0 0 rg BT 493.32 461.00 Td (will ) Tj ET Q q 0 0 0 rg BT 511.57 461.00 Td (be ) Tj ET Q q 0 0 0 rg BT 523.70 461.00 Td (evaluated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 449.00 Td (for ) Tj ET Q q 0 0 0 rg BT 63.47 449.00 Td (impairment ) Tj ET Q q 0 0 0 rg BT 111.38 449.00 Td (at ) Tj ET Q q 0 0 0 rg BT 120.40 449.00 Td (least ) Tj ET Q q 0 0 0 rg BT 140.53 449.00 Td (annually) Tj ET Q q 0 0 0 rg BT 174.32 449.00 Td (. ) Tj ET Q q 0 0 0 rg BT 178.49 449.00 Td (Thus, ) Tj ET Q q 0 0 0 rg BT 202.40 449.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 225.32 449.00 Td (recognized ) Tj ET Q q 0 0 0 rg BT 270.99 449.00 Td (no ) Tj ET Q q 0 0 0 rg BT 282.80 449.00 Td (amortization ) Tj ET Q q 0 0 0 rg BT 335.14 449.00 Td (expense ) Tj ET Q q 0 0 0 rg BT 369.16 449.00 Td (during ) Tj ET Q q 0 0 0 rg BT 397.08 449.00 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.10 449.00 Td (year ) Tj ET Q q 0 0 0 rg BT 430.12 449.00 Td (ended ) Tj ET Q q 0 0 0 rg BT 455.80 449.00 Td (December ) Tj ET Q q 0 0 0 rg BT 498.69 449.00 Td (31, ) Tj ET Q q 0 0 0 rg BT 513.00 449.00 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.00 449.00 Td ( ) Tj ET Q q 0 0 0 rg BT 534.81 449.00 Td (related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 437.00 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 437.00 Td (intangible ) Tj ET Q q 0 0 0 rg BT 102.77 437.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 128.60 437.00 Td (acquired ) Tj ET Q q 0 0 0 rg BT 165.52 437.00 Td (in ) Tj ET Q q 0 0 0 rg BT 175.80 437.00 Td (the ) Tj ET Q q 0 0 0 rg BT 190.52 437.00 Td (Gateway ) Tj ET Q q 0 0 0 rg BT 228.55 437.00 Td (transaction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.30 420.00 Td (incurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.80 420.00 Td ($406,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.30 420.00 Td ( ) Tj ET Q q 0 0 0 rg BT 148.49 420.00 Td (in ) Tj ET Q q 0 0 0 rg BT 158.45 420.00 Td (legal ) Tj ET Q q 0 0 0 rg BT 180.07 420.00 Td (and ) Tj ET Q q 0 0 0 rg BT 196.70 420.00 Td (professional ) Tj ET Q q 0 0 0 rg BT 247.76 420.00 Td (fee ) Tj ET Q q 0 0 0 rg BT 262.16 420.00 Td (expenses ) Tj ET Q q 0 0 0 rg BT 300.44 420.00 Td (related ) Tj ET Q q 0 0 0 rg BT 329.83 420.00 Td (to ) Tj ET Q q 0 0 0 rg BT 339.80 420.00 Td (the ) Tj ET Q q 0 0 0 rg BT 354.20 420.00 Td (transaction ) Tj ET Q q 0 0 0 rg BT 400.26 420.00 Td (during ) Tj ET Q q 0 0 0 rg BT 428.56 420.00 Td (the ) Tj ET Q q 0 0 0 rg BT 442.96 420.00 Td (the ) Tj ET Q q 0 0 0 rg BT 457.37 420.00 Td (first ) Tj ET Q q 0 0 0 rg BT 475.66 420.00 Td (quarter ) Tj ET Q q 0 0 0 rg BT 506.17 420.00 Td (of ) Tj ET Q q 0 0 0 rg BT 516.68 420.00 Td (2013. ) Tj ET Q q 0 0 0 rg BT 540.89 420.00 Td (Atlas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.00 Td (incurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.89 408.00 Td ($337,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.39 408.00 Td ( ) Tj ET Q q 0 0 0 rg BT 127.96 408.00 Td (in ) Tj ET Q q 0 0 0 rg BT 139.32 408.00 Td (one-time ) Tj ET Q q 0 0 0 rg BT 178.43 408.00 Td (employee ) Tj ET Q q 0 0 0 rg BT 220.88 408.00 Td (termination ) Tj ET Q q 0 0 0 rg BT 270.55 408.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 294.13 408.00 Td (during ) Tj ET Q q 0 0 0 rg BT 323.81 408.00 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.60 408.00 Td (year ) Tj ET Q q 0 0 0 rg BT 360.38 408.00 Td (ended ) Tj ET Q q 0 0 0 rg BT 387.83 408.00 Td (December ) Tj ET Q q 0 0 0 rg BT 432.49 408.00 Td (31, ) Tj ET Q q 0 0 0 rg BT 448.56 408.00 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.56 408.00 Td (, ) Tj ET Q q 0 0 0 rg BT 474.64 408.00 Td (plans ) Tj ET Q q 0 0 0 rg BT 499.32 408.00 Td (for ) Tj ET Q q 0 0 0 rg BT 514.56 408.00 Td (which ) Tj ET Q q 0 0 0 rg BT 542.57 408.00 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.00 Td (formulated ) Tj ET Q q 0 0 0 rg BT 96.86 396.00 Td (in ) Tj ET Q q 0 0 0 rg BT 107.63 396.00 Td (the ) Tj ET Q q 0 0 0 rg BT 122.84 396.00 Td (same ) Tj ET Q q 0 0 0 rg BT 146.37 396.00 Td (period, ) Tj ET Q q 0 0 0 rg BT 177.41 396.00 Td (and ) Tj ET Q q 0 0 0 rg BT 194.84 396.00 Td (also ) Tj ET Q q 0 0 0 rg BT 213.94 396.00 Td (incurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.24 396.00 Td ($372,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.74 396.00 Td ( ) Tj ET Q q 0 0 0 rg BT 290.73 396.00 Td (of ) Tj ET Q q 0 0 0 rg BT 302.05 396.00 Td (additional ) Tj ET Q q 0 0 0 rg BT 345.03 396.00 Td (interim ) Tj ET Q q 0 0 0 rg BT 376.90 396.00 Td (transition/integration ) Tj ET Q q 0 0 0 rg BT 463.76 396.00 Td (costs. ) Tj ET Q q 0 0 0 rg BT 489.04 396.00 Td (These ) Tj ET Q q 0 0 0 rg BT 515.90 396.00 Td (termination ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.00 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 384.00 Td (transition/integration ) Tj ET Q q 0 0 0 rg BT 153.31 384.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 175.81 384.00 Td (are ) Tj ET Q q 0 0 0 rg BT 190.52 384.00 Td (included ) Tj ET Q q 0 0 0 rg BT 227.45 384.00 Td (in ) Tj ET Q q 0 0 0 rg BT 237.73 384.00 Td ("Other ) Tj ET Q q 0 0 0 rg BT 267.08 384.00 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 323.46 384.00 Td (Expenses" ) Tj ET Q q 0 0 0 rg BT 367.81 384.00 Td (on ) Tj ET Q q 0 0 0 rg BT 380.31 384.00 Td (the ) Tj ET Q q 0 0 0 rg BT 395.02 384.00 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 450.30 384.00 Td (Statements ) Tj ET Q q 0 0 0 rg BT 496.68 384.00 Td (of ) Tj ET Q q 0 0 0 rg BT 507.51 384.00 Td (Income ) Tj ET Q q 0 0 0 rg BT 540.00 384.00 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 353.20 Td (4. EARNINGS PER SHARE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 336.20 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 88.15 336.20 Td (per ) Tj ET Q q 0 0 0 rg BT 103.52 336.20 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 140.00 336.20 Td (and ) Tj ET Q q 0 0 0 rg BT 157.04 336.20 Td (restricted ) Tj ET Q q 0 0 0 rg BT 196.84 336.20 Td (common ) Tj ET Q q 0 0 0 rg BT 234.44 336.20 Td (share ) Tj ET Q q 0 0 0 rg BT 258.14 336.20 Td (\(collectively) Tj ET Q q 0 0 0 rg BT 307.46 336.20 Td (, ) Tj ET Q q 0 0 0 rg BT 312.57 336.20 Td (the ) Tj ET Q q 0 0 0 rg BT 327.38 336.20 Td ("common ) Tj ET Q q 0 0 0 rg BT 369.06 336.20 Td (shares"\) ) Tj ET Q q 0 0 0 rg BT 404.07 336.20 Td (for ) Tj ET Q q 0 0 0 rg BT 418.33 336.20 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 336.20 Td (years ) Tj ET Q q 0 0 0 rg BT 456.85 336.20 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.72 336.20 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.33 336.20 Td (December31, ) Tj ET Q q 0 0 0 rg BT 542.01 336.20 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.01 336.20 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.20 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 324.20 Td (December31, ) Tj ET Q q 0 0 0 rg BT 125.52 324.20 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.52 324.20 Td ( ) Tj ET Q q 0 0 0 rg BT 148.02 324.20 Td (are ) Tj ET Q q 0 0 0 rg BT 162.73 324.20 Td (as ) Tj ET Q q 0 0 0 rg BT 173.56 324.20 Td (follows ) Tj ET Q q 0 0 0 rg BT 206.06 324.20 Td (\($ ) Tj ET Q q 0 0 0 rg BT 216.89 324.20 Td (in ) Tj ET Q q 0 0 0 rg BT 227.17 324.20 Td ('000's ) Tj ET Q q 0 0 0 rg BT 252.16 324.20 Td (except ) Tj ET Q q 0 0 0 rg BT 280.76 324.20 Td (for ) Tj ET Q q 0 0 0 rg BT 294.92 324.20 Td (share ) Tj ET Q q 0 0 0 rg BT 318.52 324.20 Td (and ) Tj ET Q q 0 0 0 rg BT 335.45 324.20 Td (per ) Tj ET Q q 0 0 0 rg BT 350.72 324.20 Td (share ) Tj ET Q q 0 0 0 rg BT 374.32 324.20 Td (amounts\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.20 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 301.70 386.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 301.70 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 301.70 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 301.70 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 274.70 386.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 274.70 61.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 274.70 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 274.70 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 250.70 386.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 250.70 61.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 250.70 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 250.70 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 226.70 21.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 71.50 226.70 365.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 226.70 61.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 226.70 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 226.70 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 202.70 386.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 202.70 61.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 202.70 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 202.70 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 178.70 386.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 178.70 61.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 178.70 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 178.70 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 154.70 386.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 154.70 61.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 154.70 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 154.70 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 130.70 21.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 71.50 130.70 365.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 130.70 61.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 130.70 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 130.70 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 106.70 21.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 71.50 106.70 365.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 106.70 61.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 106.70 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 106.70 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 82.70 386.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 82.70 61.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 82.70 5.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 82.70 60.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 301.70000000000005 m 497.5 301.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 286.70000000000005 m 497.5 286.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 301.70000000000005 m 502.5 301.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 286.70000000000005 m 502.5 286.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 301.70000000000005 m 562.5 301.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 286.70000000000005 m 562.5 286.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 238.70000000000005 m 497.5 238.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 238.70000000000005 m 502.5 238.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 238.70000000000005 m 562.5 238.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 202.70000000000005 m 497.5 202.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 202.70000000000005 m 502.5 202.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 202.70000000000005 m 562.5 202.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 154.70000000000005 m 497.5 154.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 154.70000000000005 m 562.5 154.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 154.70000000000005 m 497.5 154.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 154.70000000000005 m 502.5 154.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 154.70000000000005 m 562.5 154.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 82.70000000000005 m 497.5 82.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 82.70000000000005 m 502.5 82.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 82.70000000000005 m 562.5 82.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 58.700000000000045 m 497.5 58.700000000000045 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 58.700000000000045 m 502.5 58.700000000000045 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 58.700000000000045 m 562.5 58.700000000000045 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.50 291.38 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.00 291.38 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 277.31 Td (Basic:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 265.32 Td (Net income attributable to Atlas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 265.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 265.32 Td (17,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 265.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 265.32 Td (6,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 253.32 Td (Add: Discount from preferred share buyback) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 253.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 253.32 Td (1,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 241.32 Td (Less: Preferred share dividends) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 241.32 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 241.32 Td (619) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 229.32 Td (Net income attributable to common shareholders for basic earnings per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 229.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 229.32 Td (17,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 229.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 229.32 Td (7,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 217.32 Td (Weighted average common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.00 217.32 Td (10,937,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 217.32 Td (8,007,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 205.32 Td (Basic earnings per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 205.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 205.32 Td (1.61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 205.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 205.32 Td (0.92) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 181.31 Td (Diluted:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 169.32 Td (Net income attributable to Atlas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 169.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 169.32 Td (17,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 169.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 169.32 Td (6,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 157.32 Td (Add: Discount from preferred share buyback) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 157.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 157.32 Td (1,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 145.32 Td (Net income attributable to common shareholders for dilutive earnings per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 145.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 145.32 Td (17,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 145.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 145.32 Td (7,980) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 133.32 Td (Weighted average common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.00 133.32 Td (10,937,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 133.32 Td (8,007,458) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.00 121.31 Td (Dilutive potential ordinary shares:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 109.32 Td (Dilutive stock options outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.50 109.32 Td (150,407) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.50 109.32 Td (87,825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 97.32 Td (Dilutive warrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 97.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 97.32 Td (1,158,085) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 85.32 Td (Dilutive shares upon preferred share conversion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.50 85.32 Td (254,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 85.32 Td (1,587,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 73.32 Td (Dilutive average common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.00 73.32 Td (11,341,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 73.32 Td (10,840,868) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 61.32 Td (Dilutive earnings per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 61.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 61.32 Td (1.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 61.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 61.32 Td (0.74) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 131 0 obj <> endobj 132 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Diluted ) Tj ET Q q 0 0 0 rg BT 82.39 742.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 118.66 742.10 Td (per ) Tj ET Q q 0 0 0 rg BT 133.82 742.10 Td (common ) Tj ET Q q 0 0 0 rg BT 171.21 742.10 Td (share ) Tj ET Q q 0 0 0 rg BT 194.70 742.10 Td (is ) Tj ET Q q 0 0 0 rg BT 203.76 742.10 Td (computed ) Tj ET Q q 0 0 0 rg BT 245.59 742.10 Td (by ) Tj ET Q q 0 0 0 rg BT 257.98 742.10 Td (dividing ) Tj ET Q q 0 0 0 rg BT 293.71 742.10 Td (net ) Tj ET Q q 0 0 0 rg BT 308.32 742.10 Td (income ) Tj ET Q q 0 0 0 rg BT 340.14 742.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 388.07 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 397.71 742.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 421.22 742.10 Td (by ) Tj ET Q q 0 0 0 rg BT 433.61 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.22 742.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 487.27 742.10 Td (average ) Tj ET Q q 0 0 0 rg BT 520.74 742.10 Td (number ) Tj ET Q q 0 0 0 rg BT 553.68 742.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (common ) Tj ET Q q 0 0 0 rg BT 86.80 730.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 113.60 730.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 162.08 730.10 Td (for ) Tj ET Q q 0 0 0 rg BT 175.55 730.10 Td (each ) Tj ET Q q 0 0 0 rg BT 195.67 730.10 Td (period ) Tj ET Q q 0 0 0 rg BT 223.03 730.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 241.51 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 255.53 730.10 Td (incremental ) Tj ET Q q 0 0 0 rg BT 304.54 730.10 Td (number ) Tj ET Q q 0 0 0 rg BT 336.89 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 347.03 730.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 373.83 730.10 Td (added ) Tj ET Q q 0 0 0 rg BT 399.52 730.10 Td (as ) Tj ET Q q 0 0 0 rg BT 409.66 730.10 Td (a ) Tj ET Q q 0 0 0 rg BT 415.91 730.10 Td (result ) Tj ET Q q 0 0 0 rg BT 439.93 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 450.07 730.10 Td (converting ) Tj ET Q q 0 0 0 rg BT 494.64 730.10 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 527.00 730.10 Td (potential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 87.29 718.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 118.20 718.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 162.14 718.10 Td (using ) Tj ET Q q 0 0 0 rg BT 187.23 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 202.86 718.10 Td (treasury ) Tj ET Q q 0 0 0 rg BT 238.48 718.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 263.01 718.10 Td (method ) Tj ET Q q 0 0 0 rg BT 296.42 718.10 Td (\(or) Tj ET Q q 0 0 0 rg BT 307.68 718.10 Td (, ) Tj ET Q q 0 0 0 rg BT 313.59 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 324.79 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 340.42 718.10 Td (case ) Tj ET Q q 0 0 0 rg BT 361.04 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 372.79 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 388.42 718.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 436.81 718.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 476.87 718.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 507.77 718.10 Td (using ) Tj ET Q q 0 0 0 rg BT 532.86 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 548.49 718.10 Td ("if-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (converted" ) Tj ET Q q 0 0 0 rg BT 96.01 706.10 Td (method\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 689.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.11 689.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.44 689.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 131.52 689.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.52 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 153.52 689.10 Td (there ) Tj ET Q q 0 0 0 rg BT 175.50 689.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.92 689.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.92 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 208.92 689.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 257.58 689.10 Td (warrants. ) Tj ET Q q 0 0 0 rg BT 296.51 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 298.51 689.10 Td (On ) Tj ET Q q 0 0 0 rg BT 312.28 689.10 Td (August ) Tj ET Q q 0 0 0 rg BT 343.17 689.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 352.67 689.10 Td (2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.17 689.10 Td (18,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.17 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 424.16 689.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 462.80 689.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 489.78 689.10 Td (were ) Tj ET Q q 0 0 0 rg BT 511.21 689.10 Td (repurchased. ) Tj ET Q q 0 0 0 rg BT 564.52 689.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 677.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 73.70 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.13 677.10 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 109.12 677.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 146.54 677.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 182.85 677.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 210.28 677.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 240.49 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 251.25 677.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 300.35 677.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 323.89 677.10 Td (options ) Tj ET Q q 0 0 0 rg BT 355.78 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 365.99 677.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 403.96 677.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 440.27 677.10 Td (common ) Tj ET Q q 0 0 0 rg BT 477.70 677.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 505.12 677.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 677.10 Td (2,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.00 677.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 665.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 88.62 665.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 115.60 665.10 Td (potentially ) Tj ET Q q 0 0 0 rg BT 160.35 665.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 207.31 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 217.08 665.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 252.94 665.10 Td (common ) Tj ET Q q 0 0 0 rg BT 289.92 665.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 316.89 665.10 Td (at ) Tj ET Q q 0 0 0 rg BT 326.10 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 340.30 665.10 Td (option ) Tj ET Q q 0 0 0 rg BT 367.84 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 378.15 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 392.36 665.10 Td (holder ) Tj ET Q q 0 0 0 rg BT 419.89 665.10 Td (at ) Tj ET Q q 0 0 0 rg BT 429.09 665.10 Td (any ) Tj ET Q q 0 0 0 rg BT 445.51 665.10 Td (date ) Tj ET Q q 0 0 0 rg BT 464.15 665.10 Td (after ) Tj ET Q q 0 0 0 rg BT 484.45 665.10 Td (December ) Tj ET Q q 0 0 0 rg BT 527.52 665.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 542.01 665.10 Td (2015 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 653.10 Td (at ) Tj ET Q q 0 0 0 rg BT 59.69 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.38 653.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 91.85 653.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.65 653.10 Td (0.1270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.15 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 132.63 653.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 168.98 653.10 Td (common ) Tj ET Q q 0 0 0 rg BT 206.45 653.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 233.92 653.10 Td (for ) Tj ET Q q 0 0 0 rg BT 248.05 653.10 Td (each ) Tj ET Q q 0 0 0 rg BT 268.84 653.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 307.95 653.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 333.85 653.10 Td (The ) Tj ET Q q 0 0 0 rg BT 351.87 653.10 Td (ef) Tj ET Q q 0 0 0 rg BT 359.46 653.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 380.81 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 391.62 653.10 Td (these ) Tj ET Q q 0 0 0 rg BT 414.64 653.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 462.10 653.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 511.24 653.10 Td (are ) Tj ET Q q 0 0 0 rg BT 525.92 653.10 Td (excluded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.10 Td (from ) Tj ET Q q 0 0 0 rg BT 72.21 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 87.20 641.10 Td (computation ) Tj ET Q q 0 0 0 rg BT 139.96 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 151.06 641.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 181.60 641.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 218.25 641.10 Td (per ) Tj ET Q q 0 0 0 rg BT 233.78 641.10 Td (share ) Tj ET Q q 0 0 0 rg BT 257.65 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 268.20 641.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 300.41 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 310.96 641.10 Td (which ) Tj ET Q q 0 0 0 rg BT 338.17 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 353.15 641.10 Td (ef) Tj ET Q q 0 0 0 rg BT 360.74 641.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 378.50 641.10 Td (would ) Tj ET Q q 0 0 0 rg BT 406.27 641.10 Td (be ) Tj ET Q q 0 0 0 rg BT 418.48 641.10 Td (anti-dilutive. ) Tj ET Q q 0 0 0 rg BT 472.62 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 475.39 641.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 525.37 641.10 Td (preferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 77.30 629.10 Td (are ) Tj ET Q q 0 0 0 rg BT 91.82 629.10 Td (anti-dilutive ) Tj ET Q q 0 0 0 rg BT 143.01 629.10 Td (when ) Tj ET Q q 0 0 0 rg BT 166.99 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 181.52 629.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 213.83 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 224.47 629.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 261.78 629.10 Td (declared ) Tj ET Q q 0 0 0 rg BT 297.96 629.10 Td (or ) Tj ET Q q 0 0 0 rg BT 308.60 629.10 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 361.44 629.10 Td (in ) Tj ET Q q 0 0 0 rg BT 371.53 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 386.06 629.10 Td (current ) Tj ET Q q 0 0 0 rg BT 416.69 629.10 Td (period ) Tj ET Q q 0 0 0 rg BT 444.55 629.10 Td (per ) Tj ET Q q 0 0 0 rg BT 459.63 629.10 Td (common ) Tj ET Q q 0 0 0 rg BT 496.94 629.10 Td (share ) Tj ET Q q 0 0 0 rg BT 520.35 629.10 Td (obtainable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 617.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 72.08 617.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 118.04 617.10 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 151.77 617.10 Td (basic ) Tj ET Q q 0 0 0 rg BT 174.40 617.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 210.36 617.10 Td (per ) Tj ET Q q 0 0 0 rg BT 225.21 617.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 250.89 617.10 Td (For ) Tj ET Q q 0 0 0 rg BT 266.87 617.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.16 617.10 Td (years ) Tj ET Q q 0 0 0 rg BT 304.35 617.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 330.31 617.10 Td (December ) Tj ET Q q 0 0 0 rg BT 373.47 617.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 388.05 617.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 410.14 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 426.66 617.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.66 617.10 Td (, ) Tj ET Q q 0 0 0 rg BT 451.24 617.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 498.30 617.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 537.02 617.10 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 605.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 90.55 605.10 Td (options ) Tj ET Q q 0 0 0 rg BT 122.50 605.10 Td (were ) Tj ET Q q 0 0 0 rg BT 144.42 605.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 178.02 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 188.30 605.10 Td (be ) Tj ET Q q 0 0 0 rg BT 200.23 605.10 Td (dilutive. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 588.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.88 588.10 Td (computing ) Tj ET Q q 0 0 0 rg BT 106.20 588.10 Td (the ) Tj ET Q q 0 0 0 rg BT 120.97 588.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 151.29 588.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 187.72 588.10 Td (per ) Tj ET Q q 0 0 0 rg BT 203.04 588.10 Td (share ) Tj ET Q q 0 0 0 rg BT 226.69 588.10 Td (on ) Tj ET Q q 0 0 0 rg BT 239.24 588.10 Td (a ) Tj ET Q q 0 0 0 rg BT 246.23 588.10 Td (year ) Tj ET Q q 0 0 0 rg BT 265.99 588.10 Td (to ) Tj ET Q q 0 0 0 rg BT 276.31 588.10 Td (date ) Tj ET Q q 0 0 0 rg BT 295.52 588.10 Td (basis, ) Tj ET Q q 0 0 0 rg BT 320.57 588.10 Td (the ) Tj ET Q q 0 0 0 rg BT 335.34 588.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 376.77 588.10 Td (included ) Tj ET Q q 0 0 0 rg BT 413.76 588.10 Td (the ) Tj ET Q q 0 0 0 rg BT 428.53 588.10 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 461.63 588.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 491.39 588.10 Td (of ) Tj ET Q q 0 0 0 rg BT 502.27 588.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.04 588.10 Td (convertible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 576.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 88.12 576.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 114.59 576.10 Td (that ) Tj ET Q q 0 0 0 rg BT 131.06 576.10 Td (were ) Tj ET Q q 0 0 0 rg BT 151.97 576.10 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 192.32 576.10 Td (during ) Tj ET Q q 0 0 0 rg BT 219.91 576.10 Td (the ) Tj ET Q q 0 0 0 rg BT 233.60 576.10 Td (third ) Tj ET Q q 0 0 0 rg BT 253.97 576.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 283.77 576.10 Td (of ) Tj ET Q q 0 0 0 rg BT 293.58 576.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 315.06 576.10 Td (on ) Tj ET Q q 0 0 0 rg BT 326.54 576.10 Td (a ) Tj ET Q q 0 0 0 rg BT 332.46 576.10 Td (pro-rata ) Tj ET Q q 0 0 0 rg BT 365.59 576.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 387.07 576.10 Td (for ) Tj ET Q q 0 0 0 rg BT 400.21 576.10 Td (the ) Tj ET Q q 0 0 0 rg BT 413.91 576.10 Td (period ) Tj ET Q q 0 0 0 rg BT 440.93 576.10 Td (during ) Tj ET Q q 0 0 0 rg BT 468.52 576.10 Td (which ) Tj ET Q q 0 0 0 rg BT 494.44 576.10 Td (those ) Tj ET Q q 0 0 0 rg BT 517.03 576.10 Td (convertible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 88.83 564.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 116.02 564.10 Td (were ) Tj ET Q q 0 0 0 rg BT 137.64 564.10 Td (outstanding. ) Tj ET Q q 0 0 0 rg BT 191.34 564.10 Td (This ) Tj ET Q q 0 0 0 rg BT 211.31 564.10 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 244.06 564.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 273.47 564.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 313.42 564.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.83 564.10 Td (denominator ) Tj ET Q q 0 0 0 rg BT 380.56 564.10 Td (in ) Tj ET Q q 0 0 0 rg BT 390.54 564.10 Td (the ) Tj ET Q q 0 0 0 rg BT 404.95 564.10 Td (full ) Tj ET Q q 0 0 0 rg BT 421.03 564.10 Td (year ) Tj ET Q q 0 0 0 rg BT 440.43 564.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 462.63 564.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 492.60 564.10 Td (EPS ) Tj ET Q q 0 0 0 rg BT 512.02 564.10 Td (computation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 552.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.10 552.10 Td (1,333,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.10 552.10 Td ( ) Tj ET Q q 0 0 0 rg BT 106.19 552.10 Td (shares; ) Tj ET Q q 0 0 0 rg BT 137.06 552.10 Td (however) Tj ET Q q 0 0 0 rg BT 171.08 552.10 Td (, ) Tj ET Q q 0 0 0 rg BT 176.68 552.10 Td (this ) Tj ET Q q 0 0 0 rg BT 194.22 552.10 Td (has ) Tj ET Q q 0 0 0 rg BT 210.65 552.10 Td (no ) Tj ET Q q 0 0 0 rg BT 223.75 552.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 254.05 552.10 Td (on ) Tj ET Q q 0 0 0 rg BT 267.15 552.10 Td (the ) Tj ET Q q 0 0 0 rg BT 282.46 552.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 309.43 552.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 346.40 552.10 Td (used ) Tj ET Q q 0 0 0 rg BT 367.83 552.10 Td (for ) Tj ET Q q 0 0 0 rg BT 382.58 552.10 Td (the ) Tj ET Q q 0 0 0 rg BT 397.90 552.10 Td (numerator ) Tj ET Q q 0 0 0 rg BT 442.08 552.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.96 552.10 Td (the ) Tj ET Q q 0 0 0 rg BT 468.27 552.10 Td (EPS ) Tj ET Q q 0 0 0 rg BT 488.60 552.10 Td (computation. ) Tj ET Q q 0 0 0 rg BT 546.46 552.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 540.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 88.02 540.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 114.40 540.10 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 154.65 540.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 195.46 540.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 224.62 540.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 259.88 540.10 Td (per ) Tj ET Q q 0 0 0 rg BT 274.04 540.10 Td (share ) Tj ET Q q 0 0 0 rg BT 296.53 540.10 Td (for ) Tj ET Q q 0 0 0 rg BT 309.57 540.10 Td (the ) Tj ET Q q 0 0 0 rg BT 323.18 540.10 Td (year ) Tj ET Q q 0 0 0 rg BT 341.77 540.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.16 540.10 Td ($0.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.66 540.10 Td (. ) Tj ET Q q 0 0 0 rg BT 379.55 540.10 Td (Future ) Tj ET Q q 0 0 0 rg BT 407.05 540.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 436.21 540.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 471.47 540.10 Td (per ) Tj ET Q q 0 0 0 rg BT 485.63 540.10 Td (share ) Tj ET Q q 0 0 0 rg BT 508.12 540.10 Td (computations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 528.10 Td (will ) Tj ET Q q 0 0 0 rg BT 68.06 528.10 Td (not ) Tj ET Q q 0 0 0 rg BT 83.33 528.10 Td (be ) Tj ET Q q 0 0 0 rg BT 95.27 528.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 134.42 528.10 Td (by ) Tj ET Q q 0 0 0 rg BT 146.92 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 161.64 528.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 200.78 528.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 228.27 528.10 Td (redeemed.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 509.30 Td (5. INVESTMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 492.30 Td (The ) Tj ET Q q 0 0 0 rg BT 67.98 492.30 Td (amortized ) Tj ET Q q 0 0 0 rg BT 110.39 492.30 Td (cost, ) Tj ET Q q 0 0 0 rg BT 131.43 492.30 Td (gross ) Tj ET Q q 0 0 0 rg BT 154.98 492.30 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 199.05 492.30 Td (gains ) Tj ET Q q 0 0 0 rg BT 222.59 492.30 Td (and ) Tj ET Q q 0 0 0 rg BT 239.46 492.30 Td (losses ) Tj ET Q q 0 0 0 rg BT 265.78 492.30 Td (and ) Tj ET Q q 0 0 0 rg BT 282.65 492.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 298.96 492.30 Td (value ) Tj ET Q q 0 0 0 rg BT 323.05 492.30 Td (for ) Tj ET Q q 0 0 0 rg BT 336.60 492.30 Td (Atlas) Tj ET Q q 0 0 0 rg BT 360.30 492.30 Td ( ) Tj ET Q q 0 0 0 rg BT 362.73 492.30 Td (investments ) Tj ET Q q 0 0 0 rg BT 412.94 492.30 Td (in ) Tj ET Q q 0 0 0 rg BT 423.15 492.30 Td (fixed ) Tj ET Q q 0 0 0 rg BT 446.12 492.30 Td (maturities, ) Tj ET Q q 0 0 0 rg BT 491.05 492.30 Td (equities ) Tj ET Q q 0 0 0 rg BT 524.58 492.30 Td (and ) Tj ET Q q 0 0 0 rg BT 541.45 492.30 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 480.30 Td (investments ) Tj ET Q q 0 0 0 rg BT 100.27 480.30 Td (are ) Tj ET Q q 0 0 0 rg BT 114.98 480.30 Td (as ) Tj ET Q q 0 0 0 rg BT 125.81 480.30 Td (follows ) Tj ET Q q 0 0 0 rg BT 158.31 480.30 Td (\(all ) Tj ET Q q 0 0 0 rg BT 174.14 480.30 Td (amounts ) Tj ET Q q 0 0 0 rg BT 210.52 480.30 Td (in ) Tj ET Q q 0 0 0 rg BT 220.80 480.30 Td ('000s\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 464.80 314.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 464.80 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 464.80 46.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 464.80 46.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 464.80 43.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 423.80 24.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.50 423.80 290.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 423.80 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 423.80 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 423.80 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 423.80 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 399.80 24.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.50 399.80 18.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 93.50 399.80 272.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 399.80 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 399.80 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 399.80 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 399.80 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 375.80 24.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.50 375.80 18.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 93.50 375.80 272.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 375.80 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 375.80 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 375.80 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 375.80 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 351.80 24.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.50 351.80 18.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 93.50 351.80 272.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 351.80 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 351.80 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 351.80 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 351.80 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 327.80 24.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.50 327.80 290.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 327.80 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 327.80 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 327.80 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 327.80 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 303.80 24.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 75.50 303.80 18.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 93.50 303.80 272.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 303.80 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 303.80 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 303.80 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 303.80 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 279.80 24.00 -12.00 re f /GS0 gs 0.8 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BT 76.02 487.00 Td (other ) Tj ET Q q 0 0 0 rg BT 99.68 487.00 Td (investments ) Tj ET Q q 0 0 0 rg BT 150.57 487.00 Td (are ) Tj ET Q q 0 0 0 rg BT 165.88 487.00 Td (comprised ) Tj ET Q q 0 0 0 rg BT 210.65 487.00 Td (of ) Tj ET Q q 0 0 0 rg BT 222.09 487.00 Td (various ) Tj ET Q q 0 0 0 rg BT 254.64 487.00 Td (limited ) Tj ET Q q 0 0 0 rg BT 286.09 487.00 Td (partnerships ) Tj ET Q q 0 0 0 rg BT 338.07 487.00 Td (that ) Tj ET Q q 0 0 0 rg BT 356.18 487.00 Td (invest ) Tj ET Q q 0 0 0 rg BT 383.18 487.00 Td (in ) Tj ET Q q 0 0 0 rg BT 394.07 487.00 Td (income-producing ) Tj ET Q q 0 0 0 rg BT 470.49 487.00 Td (real ) Tj ET Q q 0 0 0 rg BT 488.59 487.00 Td (estate, ) Tj ET Q q 0 0 0 rg BT 516.97 487.00 Td (equities, ) Tj ET Q q 0 0 0 rg BT 553.68 487.00 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.00 Td (catastrophe ) Tj ET Q q 0 0 0 rg BT 97.12 475.00 Td (bonds. ) Tj ET Q q 0 0 0 rg BT 124.75 475.00 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 149.24 475.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 180.27 475.00 Td (is ) Tj ET Q q 0 0 0 rg BT 188.52 475.00 Td (not ) Tj ET Q q 0 0 0 rg BT 202.89 475.00 Td (deemed ) Tj ET Q q 0 0 0 rg BT 235.57 475.00 Td (minor ) Tj ET Q q 0 0 0 rg BT 261.04 475.00 Td (and ) Tj ET Q q 0 0 0 rg BT 277.07 475.00 Td (the ) Tj ET Q q 0 0 0 rg BT 290.87 475.00 Td (investments ) Tj ET Q q 0 0 0 rg BT 340.23 475.00 Td (are ) Tj ET Q q 0 0 0 rg BT 354.02 475.00 Td (accounted ) Tj ET Q q 0 0 0 rg BT 396.14 475.00 Td (for ) Tj ET Q q 0 0 0 rg BT 409.39 475.00 Td (under ) Tj ET Q q 0 0 0 rg BT 433.75 475.00 Td (the ) Tj ET Q q 0 0 0 rg BT 447.55 475.00 Td (equity ) Tj ET Q q 0 0 0 rg BT 474.13 475.00 Td (method ) Tj ET Q q 0 0 0 rg BT 505.71 475.00 Td (of ) Tj ET Q q 0 0 0 rg BT 515.63 475.00 Td (accounting. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.00 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.41 463.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 120.90 463.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.90 463.00 Td (, ) Tj ET Q q 0 0 0 rg BT 145.81 463.00 Td (the ) Tj ET Q q 0 0 0 rg BT 160.44 463.00 Td (carrying ) Tj ET Q q 0 0 0 rg BT 196.16 463.00 Td (value ) Tj ET Q q 0 0 0 rg BT 220.22 463.00 Td (was ) Tj ET Q q 0 0 0 rg BT 238.18 463.00 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.35 463.00 Td ($14.4 ) Tj ET Q q 0 0 0 rg BT 323.26 463.00 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.15 463.00 Td ( ) Tj ET Q q 0 0 0 rg BT 354.56 463.00 Td (versus ) Tj ET Q q 0 0 0 rg BT 382.52 463.00 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.69 463.00 Td ($1.2 ) Tj ET Q q 0 0 0 rg BT 462.60 463.00 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.49 463.00 Td ( ) Tj ET Q q 0 0 0 rg BT 493.90 463.00 Td ( ) Tj ET Q q 0 0 0 rg BT 496.31 463.00 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.93 463.00 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.00 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 451.00 Td (. ) Tj ET Q q 0 0 0 rg BT 75.05 451.00 Td (The ) Tj ET Q q 0 0 0 rg BT 93.36 451.00 Td (carrying ) Tj ET Q q 0 0 0 rg BT 129.42 451.00 Td (value ) Tj ET Q q 0 0 0 rg BT 153.83 451.00 Td (of ) Tj ET Q q 0 0 0 rg BT 164.92 451.00 Td (these ) Tj ET Q q 0 0 0 rg BT 188.22 451.00 Td (investments ) Tj ET Q q 0 0 0 rg BT 238.75 451.00 Td (is ) Tj ET Q q 0 0 0 rg BT 247.56 451.00 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 273.23 451.00 Td (share ) Tj ET Q q 0 0 0 rg BT 297.08 451.00 Td (of ) Tj ET Q q 0 0 0 rg BT 308.16 451.00 Td (the ) Tj ET Q q 0 0 0 rg BT 323.13 451.00 Td (net ) Tj ET Q q 0 0 0 rg BT 338.10 451.00 Td (book ) Tj ET Q q 0 0 0 rg BT 360.86 451.00 Td (value ) Tj ET Q q 0 0 0 rg BT 385.27 451.00 Td (for ) Tj ET Q q 0 0 0 rg BT 399.68 451.00 Td (each ) Tj ET Q q 0 0 0 rg BT 420.75 451.00 Td (limited ) Tj ET Q q 0 0 0 rg BT 451.83 451.00 Td (partnership, ) Tj ET Q q 0 0 0 rg BT 502.07 451.00 Td (an ) Tj ET Q q 0 0 0 rg BT 514.27 451.00 Td (amount ) Tj ET Q q 0 0 0 rg BT 547.02 451.00 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.00 Td (approximates ) Tj ET Q q 0 0 0 rg BT 105.27 439.00 Td (fair ) Tj ET Q q 0 0 0 rg BT 120.55 439.00 Td (value. ) Tj ET Q q 0 0 0 rg BT 146.11 439.00 Td ( ) Tj ET Q q 0 0 0 rg BT 147.21 439.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 169.72 439.00 Td (receives ) Tj ET Q q 0 0 0 rg BT 203.87 439.00 Td (dividends ) Tj ET Q q 0 0 0 rg BT 244.16 439.00 Td (on ) Tj ET Q q 0 0 0 rg BT 255.57 439.00 Td (a ) Tj ET Q q 0 0 0 rg BT 261.41 439.00 Td (routine ) Tj ET Q q 0 0 0 rg BT 291.14 439.00 Td (basis ) Tj ET Q q 0 0 0 rg BT 312.54 439.00 Td (which ) Tj ET Q q 0 0 0 rg BT 338.38 439.00 Td (approximate ) Tj ET Q q 0 0 0 rg BT 389.76 439.00 Td (the ) Tj ET Q q 0 0 0 rg BT 403.38 439.00 Td (income ) Tj ET Q q 0 0 0 rg BT 434.22 439.00 Td (earned ) Tj ET Q q 0 0 0 rg BT 462.27 439.00 Td (on ) Tj ET Q q 0 0 0 rg BT 473.67 439.00 Td (the ) Tj ET Q q 0 0 0 rg BT 487.29 439.00 Td (limited ) Tj ET Q q 0 0 0 rg BT 517.02 439.00 Td (partnership ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.00 Td (that ) Tj ET Q q 0 0 0 rg BT 67.50 427.00 Td (invests ) Tj ET Q q 0 0 0 rg BT 97.77 427.00 Td (in ) Tj ET Q q 0 0 0 rg BT 108.05 427.00 Td (income-producing ) Tj ET Q q 0 0 0 rg BT 183.86 427.00 Td (real ) Tj ET Q q 0 0 0 rg BT 201.35 427.00 Td (estate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.00 Td (The ) Tj ET Q q 0 0 0 rg BT 68.30 410.00 Td (following ) Tj ET Q q 0 0 0 rg BT 109.94 410.00 Td (tables ) Tj ET Q q 0 0 0 rg BT 136.01 410.00 Td (summarize ) Tj ET Q q 0 0 0 rg BT 182.64 410.00 Td (carrying ) Tj ET Q q 0 0 0 rg BT 218.70 410.00 Td (amounts ) Tj ET Q q 0 0 0 rg BT 255.34 410.00 Td (of ) Tj ET Q q 0 0 0 rg BT 266.42 410.00 Td (fixed ) Tj ET Q q 0 0 0 rg BT 289.72 410.00 Td (income ) Tj ET Q q 0 0 0 rg BT 321.91 410.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 362.42 410.00 Td (by ) Tj ET Q q 0 0 0 rg BT 375.17 410.00 Td (contractual ) Tj ET Q q 0 0 0 rg BT 422.34 410.00 Td (maturity ) Tj ET Q q 0 0 0 rg BT 458.98 410.00 Td (\(all ) Tj ET Q q 0 0 0 rg BT 475.05 410.00 Td (amounts ) Tj ET Q q 0 0 0 rg BT 511.69 410.00 Td (in ) Tj ET Q q 0 0 0 rg BT 522.22 410.00 Td ('000s\). ) Tj ET Q q 0 0 0 rg BT 550.89 410.00 Td (As ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.00 Td (certain ) Tj ET Q q 0 0 0 rg BT 78.98 398.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 118.52 398.00 Td (and ) Tj ET Q q 0 0 0 rg BT 134.74 398.00 Td (debentures ) Tj ET Q q 0 0 0 rg BT 179.83 398.00 Td (have ) Tj ET Q q 0 0 0 rg BT 200.48 398.00 Td (the ) Tj ET Q q 0 0 0 rg BT 214.48 398.00 Td (right ) Tj ET Q q 0 0 0 rg BT 235.14 398.00 Td (to ) Tj ET Q q 0 0 0 rg BT 244.70 398.00 Td (call ) Tj ET Q q 0 0 0 rg BT 260.91 398.00 Td (or ) Tj ET Q q 0 0 0 rg BT 271.02 398.00 Td (prepay ) Tj ET Q q 0 0 0 rg BT 300.00 398.00 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 348.72 398.00 Td (the ) Tj ET Q q 0 0 0 rg BT 362.71 398.00 Td (actual ) Tj ET Q q 0 0 0 rg BT 388.36 398.00 Td (settlement ) Tj ET Q q 0 0 0 rg BT 431.24 398.00 Td (dates ) Tj ET Q q 0 0 0 rg BT 453.56 398.00 Td (may ) Tj ET Q q 0 0 0 rg BT 472.56 398.00 Td (dif) Tj ET Q q 0 0 0 rg BT 483.49 398.00 Td (fer ) Tj ET Q q 0 0 0 rg BT 496.36 398.00 Td (from ) Tj ET Q q 0 0 0 rg BT 517.58 398.00 Td (contractual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.00 Td (maturity) Tj ET Q q 0 0 0 rg BT 83.23 386.00 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 349.50 267.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.50 349.50 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 349.50 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 349.50 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 349.50 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 349.50 54.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 370.5 m 372.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 370.5 m 417.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 370.5 m 462.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 370.5 m 507.5 370.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 370.5 m 561.5 370.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 354.18 Td (At December 31, 2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 323.70 361.73 Td (One year or) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.00 353.73 Td (less) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.80 361.73 Td (One to five) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.35 353.73 Td (years) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 421.50 361.73 Td (Five to ten) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.35 353.73 Td (years) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.45 361.73 Td (More than) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.05 353.73 Td (ten years) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.25 353.73 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 339.17 Td (Fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.00 339.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 339.17 Td (1,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.00 339.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.10 339.17 Td (54,349) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 339.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.10 339.17 Td (23,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 339.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.10 339.17 Td (47,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 339.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.10 339.17 Td (126,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 324.17 Td (Percentage of total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 324.17 Td (1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 324.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 324.17 Td (42.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 324.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 324.17 Td (18.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 324.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 324.17 Td (37.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 324.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 324.17 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 324.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 273.50 268.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.50 273.50 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 273.50 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 273.50 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 273.50 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 273.50 54.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 296.5 m 373.5 296.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 273.5 m 373.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 296.5 m 418.5 296.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 273.5 m 418.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 296.5 m 463.5 296.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 273.5 m 463.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 296.5 m 508.5 296.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 273.5 m 508.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 296.5 m 562.5 296.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 273.5 m 562.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 273.5 m 373.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 273.5 m 418.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 273.5 m 463.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 273.5 m 508.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 273.5 m 562.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318.5 249.5 m 373.5 249.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 249.5 m 418.5 249.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 249.5 m 463.5 249.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 249.5 m 508.5 249.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508.5 249.5 m 562.5 249.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 278.18 Td (At December 31, 2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.20 285.73 Td (One year or) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.50 277.73 Td (less) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.80 285.73 Td (One to five) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.35 277.73 Td (years) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.50 285.73 Td (Five to ten) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 431.35 277.73 Td (years) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.45 285.73 Td (More than) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.05 277.73 Td (ten years) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.25 277.73 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 264.12 Td (Fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 264.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 264.12 Td (7,571) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.00 264.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.10 264.12 Td (43,693) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 264.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.10 264.12 Td (28,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 264.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.10 264.12 Td (49,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.00 264.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.10 264.12 Td (128,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 252.12 Td (Percentage of total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.15 252.12 Td (5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.65 252.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 252.12 Td (34.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 252.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.15 252.12 Td (21.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.65 252.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 252.12 Td (38.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 252.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 252.12 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 252.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 233.00 Td (Management ) Tj ET Q q 0 0 0 rg BT 105.62 233.00 Td (performs ) Tj ET Q q 0 0 0 rg BT 145.13 233.00 Td (a ) Tj ET Q q 0 0 0 rg BT 152.98 233.00 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 192.49 233.00 Td (analysis ) Tj ET Q q 0 0 0 rg BT 228.12 233.00 Td (of ) Tj ET Q q 0 0 0 rg BT 239.10 233.00 Td (Atlas) Tj ET Q q 0 0 0 rg BT 262.80 233.00 Td ( ) Tj ET Q q 0 0 0 rg BT 266.21 233.00 Td (investment ) Tj ET Q q 0 0 0 rg BT 313.51 233.00 Td (holdings ) Tj ET Q q 0 0 0 rg BT 351.37 233.00 Td (to ) Tj ET Q q 0 0 0 rg BT 362.56 233.00 Td (determine ) Tj ET Q q 0 0 0 rg BT 405.96 233.00 Td (if ) Tj ET Q q 0 0 0 rg BT 415.48 233.00 Td (declines ) Tj ET Q q 0 0 0 rg BT 451.65 233.00 Td (in ) Tj ET Q q 0 0 0 rg BT 462.85 233.00 Td (fair ) Tj ET Q q 0 0 0 rg BT 480.14 233.00 Td (value ) Tj ET Q q 0 0 0 rg BT 505.20 233.00 Td (are ) Tj ET Q q 0 0 0 rg BT 520.82 233.00 Td (other ) Tj ET Q q 0 0 0 rg BT 544.78 233.00 Td (than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 221.00 Td (temporary) Tj ET Q q 0 0 0 rg BT 90.44 221.00 Td (. ) Tj ET Q q 0 0 0 rg BT 95.26 221.00 Td (The ) Tj ET Q q 0 0 0 rg BT 113.31 221.00 Td (analysis ) Tj ET Q q 0 0 0 rg BT 148.03 221.00 Td (includes ) Tj ET Q q 0 0 0 rg BT 183.85 221.00 Td (some ) Tj ET Q q 0 0 0 rg BT 207.46 221.00 Td (or ) Tj ET Q q 0 0 0 rg BT 218.29 221.00 Td (all ) Tj ET Q q 0 0 0 rg BT 230.79 221.00 Td (of ) Tj ET Q q 0 0 0 rg BT 241.62 221.00 Td (the ) Tj ET Q q 0 0 0 rg BT 256.33 221.00 Td (following ) Tj ET Q q 0 0 0 rg BT 297.72 221.00 Td (procedures ) Tj ET Q q 0 0 0 rg BT 344.09 221.00 Td (as ) Tj ET Q q 0 0 0 rg BT 354.92 221.00 Td (deemed ) Tj ET Q q 0 0 0 rg BT 388.51 221.00 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 436.54 221.00 Td (by ) Tj ET Q q 0 0 0 rg BT 449.04 221.00 Td (management:) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 201.84 cm /I42 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 204.00 Td (identifying ) Tj ET Q q 0 0 0 rg BT 131.49 204.00 Td (all ) Tj ET Q q 0 0 0 rg BT 143.09 204.00 Td (security ) Tj ET Q q 0 0 0 rg BT 176.35 204.00 Td (holdings ) Tj ET Q q 0 0 0 rg BT 212.40 204.00 Td (in ) Tj ET Q q 0 0 0 rg BT 221.79 204.00 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 265.03 204.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 282.20 204.00 Td (positions ) Tj ET Q q 0 0 0 rg BT 319.92 204.00 Td (that ) Tj ET Q q 0 0 0 rg BT 336.52 204.00 Td (have ) Tj ET Q q 0 0 0 rg BT 357.01 204.00 Td (existed ) Tj ET Q q 0 0 0 rg BT 386.94 204.00 Td (for ) Tj ET Q q 0 0 0 rg BT 400.20 204.00 Td (at ) Tj ET Q q 0 0 0 rg BT 409.02 204.00 Td (least ) Tj ET Q q 0 0 0 rg BT 428.96 204.00 Td (six ) Tj ET Q q 0 0 0 rg BT 442.23 204.00 Td (months ) Tj ET Q q 0 0 0 rg BT 473.28 204.00 Td (or ) Tj ET Q q 0 0 0 rg BT 483.22 204.00 Td (other ) Tj ET Q q 0 0 0 rg BT 505.37 204.00 Td (circumstances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 192.00 Td (that ) Tj ET Q q 0 0 0 rg BT 103.50 192.00 Td (management ) Tj ET Q q 0 0 0 rg BT 157.08 192.00 Td (believes ) Tj ET Q q 0 0 0 rg BT 192.35 192.00 Td (may ) Tj ET Q q 0 0 0 rg BT 212.06 192.00 Td (impact ) Tj ET Q q 0 0 0 rg BT 241.78 192.00 Td (the ) Tj ET Q q 0 0 0 rg BT 256.49 192.00 Td (recoverability ) Tj ET Q q 0 0 0 rg BT 314.52 192.00 Td (of ) Tj ET Q q 0 0 0 rg BT 325.35 192.00 Td (the ) Tj ET Q q 0 0 0 rg BT 340.07 192.00 Td (security;) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 172.84 cm /I43 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 175.00 Td (obtaining ) Tj ET Q q 0 0 0 rg BT 125.94 175.00 Td (a ) Tj ET Q q 0 0 0 rg BT 132.55 175.00 Td (valuation ) Tj ET Q q 0 0 0 rg BT 171.93 175.00 Td (analysis ) Tj ET Q q 0 0 0 rg BT 206.31 175.00 Td (from ) Tj ET Q q 0 0 0 rg BT 227.92 175.00 Td (third ) Tj ET Q q 0 0 0 rg BT 248.97 175.00 Td (party ) Tj ET Q q 0 0 0 rg BT 271.69 175.00 Td (investment ) Tj ET Q q 0 0 0 rg BT 317.74 175.00 Td (managers ) Tj ET Q q 0 0 0 rg BT 358.22 175.00 Td (regarding ) Tj ET Q q 0 0 0 rg BT 398.71 175.00 Td (these ) Tj ET Q q 0 0 0 rg BT 421.42 175.00 Td (holdings ) Tj ET Q q 0 0 0 rg BT 458.04 175.00 Td (based ) Tj ET Q q 0 0 0 rg BT 482.97 175.00 Td (on ) Tj ET Q q 0 0 0 rg BT 495.14 175.00 Td (their ) Tj ET Q q 0 0 0 rg BT 515.63 175.00 Td (knowledge, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 163.00 Td (experience ) Tj ET Q q 0 0 0 rg BT 131.80 163.00 Td (and ) Tj ET Q q 0 0 0 rg BT 148.74 163.00 Td (other ) Tj ET Q q 0 0 0 rg BT 171.79 163.00 Td (market ) Tj ET Q q 0 0 0 rg BT 202.05 163.00 Td (based ) Tj ET Q q 0 0 0 rg BT 227.32 163.00 Td (valuation ) Tj ET Q q 0 0 0 rg BT 267.03 163.00 Td (techniques;) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 143.84 cm /I44 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 146.00 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 128.49 146.00 Td (the ) Tj ET Q q 0 0 0 rg BT 143.20 146.00 Td (trading ) Tj ET Q q 0 0 0 rg BT 174.03 146.00 Td (range ) Tj ET Q q 0 0 0 rg BT 198.73 146.00 Td (of ) Tj ET Q q 0 0 0 rg BT 209.56 146.00 Td (certain ) Tj ET Q q 0 0 0 rg BT 239.27 146.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 279.53 146.00 Td (over ) Tj ET Q q 0 0 0 rg BT 299.80 146.00 Td (the ) Tj ET Q q 0 0 0 rg BT 314.52 146.00 Td (preceding ) Tj ET Q q 0 0 0 rg BT 356.44 146.00 Td (calendar ) Tj ET Q q 0 0 0 rg BT 392.80 146.00 Td (period;) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 126.84 cm /I45 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 129.00 Td (assessing ) Tj ET Q q 0 0 0 rg BT 126.25 129.00 Td (if ) Tj ET Q q 0 0 0 rg BT 135.38 129.00 Td (declines ) Tj ET Q q 0 0 0 rg BT 171.18 129.00 Td (in ) Tj ET Q q 0 0 0 rg BT 181.98 129.00 Td (market ) Tj ET Q q 0 0 0 rg BT 212.77 129.00 Td (value ) Tj ET Q q 0 0 0 rg BT 237.46 129.00 Td (are ) Tj ET Q q 0 0 0 rg BT 252.69 129.00 Td (other ) Tj ET Q q 0 0 0 rg BT 276.26 129.00 Td (than ) Tj ET Q q 0 0 0 rg BT 296.51 129.00 Td (temporary ) Tj ET Q q 0 0 0 rg BT 340.63 129.00 Td (for ) Tj ET Q q 0 0 0 rg BT 355.32 129.00 Td (debt ) Tj ET Q q 0 0 0 rg BT 375.56 129.00 Td (security ) Tj ET Q q 0 0 0 rg BT 410.24 129.00 Td (holdings ) Tj ET Q q 0 0 0 rg BT 447.72 129.00 Td (based ) Tj ET Q q 0 0 0 rg BT 473.51 129.00 Td (on ) Tj ET Q q 0 0 0 rg BT 486.54 129.00 Td (credit ) Tj ET Q q 0 0 0 rg BT 512.33 129.00 Td (ratings ) Tj ET Q q 0 0 0 rg BT 542.58 129.00 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 117.00 Td (third ) Tj ET Q q 0 0 0 rg BT 107.39 117.00 Td (party ) Tj ET Q q 0 0 0 rg BT 130.43 117.00 Td (security ) Tj ET Q q 0 0 0 rg BT 164.59 117.00 Td (rating ) Tj ET Q q 0 0 0 rg BT 190.41 117.00 Td (agencies; ) Tj ET Q q 0 0 0 rg BT 230.12 117.00 Td (and) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 97.84 cm /I46 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 100.00 Td (determining ) Tj ET Q q 0 0 0 rg BT 136.84 100.00 Td (the ) Tj ET Q q 0 0 0 rg BT 151.58 100.00 Td (necessary ) Tj ET Q q 0 0 0 rg BT 192.96 100.00 Td (provision ) Tj ET Q q 0 0 0 rg BT 233.26 100.00 Td (for ) Tj ET Q q 0 0 0 rg BT 247.44 100.00 Td (declines ) Tj ET Q q 0 0 0 rg BT 282.72 100.00 Td (in ) Tj ET Q q 0 0 0 rg BT 293.02 100.00 Td (market ) Tj ET Q q 0 0 0 rg BT 323.30 100.00 Td (value ) Tj ET Q q 0 0 0 rg BT 347.48 100.00 Td (that ) Tj ET Q q 0 0 0 rg BT 364.99 100.00 Td (are ) Tj ET Q q 0 0 0 rg BT 379.72 100.00 Td (considered ) Tj ET Q q 0 0 0 rg BT 425.56 100.00 Td (other ) Tj ET Q q 0 0 0 rg BT 448.62 100.00 Td (than ) Tj ET Q q 0 0 0 rg BT 468.36 100.00 Td (temporary ) Tj ET Q q 0 0 0 rg BT 511.97 100.00 Td (based ) Tj ET Q q 0 0 0 rg BT 537.26 100.00 Td (on ) Tj ET Q q 0 0 0 rg BT 549.78 100.00 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 88.00 Td (analyses ) Tj ET Q q 0 0 0 rg BT 122.38 88.00 Td (performed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.00 Td (The ) Tj ET Q q 0 0 0 rg BT 68.14 71.00 Td (risks ) Tj ET Q q 0 0 0 rg BT 89.62 71.00 Td (and ) Tj ET Q q 0 0 0 rg BT 106.65 71.00 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 160.32 71.00 Td (inherent ) Tj ET Q q 0 0 0 rg BT 195.68 71.00 Td (in ) Tj ET Q q 0 0 0 rg BT 206.04 71.00 Td (the ) Tj ET Q q 0 0 0 rg BT 220.85 71.00 Td (assessment ) Tj ET Q q 0 0 0 rg BT 267.88 71.00 Td (methodology ) Tj ET Q q 0 0 0 rg BT 323.24 71.00 Td (utilized ) Tj ET Q q 0 0 0 rg BT 355.82 71.00 Td (to ) Tj ET Q q 0 0 0 rg BT 366.19 71.00 Td (determine ) Tj ET Q q 0 0 0 rg BT 408.76 71.00 Td (declines ) Tj ET Q q 0 0 0 rg BT 444.11 71.00 Td (in ) Tj ET Q q 0 0 0 rg BT 454.48 71.00 Td (market ) Tj ET Q q 0 0 0 rg BT 484.83 71.00 Td (value ) Tj ET Q q 0 0 0 rg BT 509.08 71.00 Td (that ) Tj ET Q q 0 0 0 rg BT 526.66 71.00 Td (are ) Tj ET Q q 0 0 0 rg BT 541.46 71.00 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.00 Td (than ) Tj ET Q q 0 0 0 rg BT 69.72 59.00 Td (temporary ) Tj ET Q q 0 0 0 rg BT 113.31 59.00 Td (include, ) Tj ET Q q 0 0 0 rg BT 147.74 59.00 Td (but ) Tj ET Q q 0 0 0 rg BT 163.02 59.00 Td (may ) Tj ET Q q 0 0 0 rg BT 182.74 59.00 Td (not ) Tj ET Q q 0 0 0 rg BT 198.02 59.00 Td (be ) Tj ET Q q 0 0 0 rg BT 209.96 59.00 Td (limited ) Tj ET Q q 0 0 0 rg BT 240.79 59.00 Td (to, ) Tj ET Q q 0 0 0 rg BT 253.56 59.00 Td (the ) Tj ET Q q 0 0 0 rg BT 268.28 59.00 Td (following:) Tj ET Q endstream endobj 135 0 obj <> endobj 136 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (67) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 739.94 cm /I47 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 100.72 742.10 Td (opinion ) Tj ET Q q 0 0 0 rg BT 133.77 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 144.60 742.10 Td (professional ) Tj ET Q q 0 0 0 rg BT 195.98 742.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 242.36 742.10 Td (managers ) Tj ET Q q 0 0 0 rg BT 283.18 742.10 Td (could ) Tj ET Q q 0 0 0 rg BT 307.89 742.10 Td (be ) Tj ET Q q 0 0 0 rg BT 319.83 742.10 Td (incorrect;) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 722.94 cm /I48 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 725.10 Td (the ) Tj ET Q q 0 0 0 rg BT 100.72 725.10 Td (past ) Tj ET Q q 0 0 0 rg BT 119.33 725.10 Td (trading ) Tj ET Q q 0 0 0 rg BT 150.15 725.10 Td (patterns ) Tj ET Q q 0 0 0 rg BT 184.31 725.10 Td (of ) Tj ET Q q 0 0 0 rg BT 195.14 725.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 238.19 725.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 278.45 725.10 Td (may ) Tj ET Q q 0 0 0 rg BT 298.17 725.10 Td (not ) Tj ET Q q 0 0 0 rg BT 313.45 725.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 341.48 725.10 Td (future ) Tj ET Q q 0 0 0 rg BT 367.86 725.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 407.57 725.10 Td (trends;) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 705.94 cm /I49 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 708.10 Td (the ) Tj ET Q q 0 0 0 rg BT 101.00 708.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 126.54 708.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 156.54 708.10 Td (assigned ) Tj ET Q q 0 0 0 rg BT 193.76 708.10 Td (by ) Tj ET Q q 0 0 0 rg BT 206.55 708.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 258.20 708.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 283.75 708.10 Td (rating ) Tj ET Q q 0 0 0 rg BT 309.85 708.10 Td (agencies ) Tj ET Q q 0 0 0 rg BT 347.06 708.10 Td (may ) Tj ET Q q 0 0 0 rg BT 367.06 708.10 Td (be ) Tj ET Q q 0 0 0 rg BT 379.28 708.10 Td (incorrect ) Tj ET Q q 0 0 0 rg BT 417.59 708.10 Td (due ) Tj ET Q q 0 0 0 rg BT 434.82 708.10 Td (to ) Tj ET Q q 0 0 0 rg BT 445.38 708.10 Td (unforeseen ) Tj ET Q q 0 0 0 rg BT 492.03 708.10 Td (or ) Tj ET Q q 0 0 0 rg BT 503.14 708.10 Td (unknown ) Tj ET Q q 0 0 0 rg BT 543.14 708.10 Td (facts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 696.10 Td (related ) Tj ET Q q 0 0 0 rg BT 115.70 696.10 Td (to ) Tj ET Q q 0 0 0 rg BT 125.98 696.10 Td (a ) Tj ET Q q 0 0 0 rg BT 132.92 696.10 Td (company) Tj ET Q q 0 0 0 rg BT 172.35 696.10 Td (s ) Tj ET Q q 0 0 0 rg BT 178.74 696.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 216.22 696.10 Td (situation; ) Tj ET Q q 0 0 0 rg BT 255.95 696.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 18.00 0 0 10.09 68.00 676.94 cm /I50 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 679.10 Td (the ) Tj ET Q q 0 0 0 rg BT 100.87 679.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 120.74 679.10 Td (service ) Tj ET Q q 0 0 0 rg BT 151.70 679.10 Td (pattern ) Tj ET Q q 0 0 0 rg BT 182.12 679.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.10 679.10 Td (non-investment ) Tj ET Q q 0 0 0 rg BT 257.96 679.10 Td (grade ) Tj ET Q q 0 0 0 rg BT 282.82 679.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 323.24 679.10 Td (may ) Tj ET Q q 0 0 0 rg BT 343.10 679.10 Td (not ) Tj ET Q q 0 0 0 rg BT 358.53 679.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 386.72 679.10 Td (future ) Tj ET Q q 0 0 0 rg BT 413.25 679.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 433.11 679.10 Td (service ) Tj ET Q q 0 0 0 rg BT 464.08 679.10 Td (capabilities ) Tj ET Q q 0 0 0 rg BT 512.27 679.10 Td (and ) Tj ET Q q 0 0 0 rg BT 529.36 679.10 Td (may ) Tj ET Q q 0 0 0 rg BT 549.23 679.10 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 667.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 114.03 667.10 Td (a ) Tj ET Q q 0 0 0 rg BT 120.97 667.10 Td (company) Tj ET Q q 0 0 0 rg BT 160.40 667.10 Td (s ) Tj ET Q q 0 0 0 rg BT 166.80 667.10 Td (unknown ) Tj ET Q q 0 0 0 rg BT 206.52 667.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 252.34 667.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 289.82 667.10 Td (problems.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 650.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.43 650.10 Td (a ) Tj ET Q q 0 0 0 rg BT 70.19 650.10 Td (result ) Tj ET Q q 0 0 0 rg BT 94.72 650.10 Td (of ) Tj ET Q q 0 0 0 rg BT 105.37 650.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.91 650.10 Td (above ) Tj ET Q q 0 0 0 rg BT 146.10 650.10 Td (analysis ) Tj ET Q q 0 0 0 rg BT 180.64 650.10 Td (performed ) Tj ET Q q 0 0 0 rg BT 224.60 650.10 Td (by ) Tj ET Q q 0 0 0 rg BT 236.92 650.10 Td (management ) Tj ET Q q 0 0 0 rg BT 290.33 650.10 Td (to ) Tj ET Q q 0 0 0 rg BT 300.42 650.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 342.72 650.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 377.80 650.10 Td (in ) Tj ET Q q 0 0 0 rg BT 387.90 650.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 404.10 650.10 Td (value ) Tj ET Q q 0 0 0 rg BT 428.07 650.10 Td (that ) Tj ET Q q 0 0 0 rg BT 445.38 650.10 Td (may ) Tj ET Q q 0 0 0 rg BT 464.92 650.10 Td (be ) Tj ET Q q 0 0 0 rg BT 476.68 650.10 Td (other ) Tj ET Q q 0 0 0 rg BT 499.54 650.10 Td (than ) Tj ET Q q 0 0 0 rg BT 519.08 650.10 Td (temporary) Tj ET Q q 0 0 0 rg BT 559.52 650.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 638.10 Td (there ) Tj ET Q q 0 0 0 rg BT 72.03 638.10 Td (was ) Tj ET Q q 0 0 0 rg BT 89.63 638.10 Td (an ) Tj ET Q q 0 0 0 rg BT 101.11 638.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 149.25 638.10 Td (related ) Tj ET Q q 0 0 0 rg BT 178.50 638.10 Td (to ) Tj ET Q q 0 0 0 rg BT 188.32 638.10 Td (an ) Tj ET Q q 0 0 0 rg BT 199.81 638.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 226.85 638.10 Td (position ) Tj ET Q q 0 0 0 rg BT 261.12 638.10 Td (that ) Tj ET Q q 0 0 0 rg BT 278.16 638.10 Td (was ) Tj ET Q q 0 0 0 rg BT 295.76 638.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 332.78 638.10 Td (in ) Tj ET Q q 0 0 0 rg BT 342.60 638.10 Td (2013. ) Tj ET Q q 0 0 0 rg BT 367.14 638.10 Td ( ) Tj ET Q q 0 0 0 rg BT 369.04 638.10 Td (The ) Tj ET Q q 0 0 0 rg BT 386.63 638.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 427.56 638.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 461.26 638.10 Td (the ) Tj ET Q q 0 0 0 rg BT 475.52 638.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 491.44 638.10 Td (value ) Tj ET Q q 0 0 0 rg BT 515.14 638.10 Td (of ) Tj ET Q q 0 0 0 rg BT 525.51 638.10 Td (its ) Tj ET Q q 0 0 0 rg BT 537.01 638.10 Td (equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 626.10 Td (position ) Tj ET Q q 0 0 0 rg BT 84.38 626.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.54 626.10 Td ($31) Tj ET Q q 0 0 0 rg BT 111.17 626.10 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.67 626.10 Td ( ) Tj ET Q q 0 0 0 rg BT 135.82 626.10 Td (and ) Tj ET Q q 0 0 0 rg BT 152.42 626.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 189.55 626.10 Td (an ) Tj ET Q q 0 0 0 rg BT 201.14 626.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 247.18 626.10 Td (through ) Tj ET Q q 0 0 0 rg BT 280.44 626.10 Td (the ) Tj ET Q q 0 0 0 rg BT 294.82 626.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 349.75 626.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 395.78 626.10 Td (of ) Tj ET Q q 0 0 0 rg BT 406.27 626.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 438.41 626.10 Td (and ) Tj ET Q q 0 0 0 rg BT 455.00 626.10 Td (Comprehensive ) Tj ET Q q 0 0 0 rg BT 519.92 626.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 552.07 626.10 Td ( ) Tj ET Q q 0 0 0 rg BT 554.22 626.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 614.10 Td (account ) Tj ET Q q 0 0 0 rg BT 83.59 614.10 Td (for ) Tj ET Q q 0 0 0 rg BT 97.75 614.10 Td (this ) Tj ET Q q 0 0 0 rg BT 114.70 614.10 Td (other ) Tj ET Q q 0 0 0 rg BT 137.75 614.10 Td (than ) Tj ET Q q 0 0 0 rg BT 157.47 614.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 201.06 614.10 Td (impairment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 597.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.46 597.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.13 597.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 132.56 597.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.56 597.10 Td (, ) Tj ET Q q 0 0 0 rg BT 157.40 597.10 Td (a ) Tj ET Q q 0 0 0 rg BT 164.18 597.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 195.42 597.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.57 597.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 230.83 597.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 268.16 597.10 Td (was ) Tj ET Q q 0 0 0 rg BT 286.06 597.10 Td (in ) Tj ET Q q 0 0 0 rg BT 296.18 597.10 Td (an ) Tj ET Q q 0 0 0 rg BT 307.96 597.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 351.95 597.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 369.85 597.10 Td (position. ) Tj ET Q q 0 0 0 rg BT 406.75 597.10 Td (This ) Tj ET Q q 0 0 0 rg BT 426.88 597.10 Td (occurred ) Tj ET Q q 0 0 0 rg BT 464.20 597.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 503.75 597.10 Td (due ) Tj ET Q q 0 0 0 rg BT 520.53 597.10 Td (to ) Tj ET Q q 0 0 0 rg BT 530.66 597.10 Td (a ) Tj ET Q q 0 0 0 rg BT 537.44 597.10 Td (rise ) Tj ET Q q 0 0 0 rg BT 554.22 597.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 585.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 83.22 585.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 105.88 585.10 Td (during ) Tj ET Q q 0 0 0 rg BT 135.78 585.10 Td (the ) Tj ET Q q 0 0 0 rg BT 151.78 585.10 Td (second ) Tj ET Q q 0 0 0 rg BT 183.34 585.10 Td (half ) Tj ET Q q 0 0 0 rg BT 202.67 585.10 Td (of ) Tj ET Q q 0 0 0 rg BT 214.79 585.10 Td (2013. ) Tj ET Q q 0 0 0 rg BT 241.08 585.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 284.30 585.10 Td (in ) Tj ET Q q 0 0 0 rg BT 295.86 585.10 Td (an ) Tj ET Q q 0 0 0 rg BT 309.09 585.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 354.52 585.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 373.87 585.10 Td (position ) Tj ET Q q 0 0 0 rg BT 409.88 585.10 Td (for ) Tj ET Q q 0 0 0 rg BT 425.33 585.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 456.87 585.10 Td (than ) Tj ET Q q 0 0 0 rg BT 477.87 585.10 Td (twelve ) Tj ET Q q 0 0 0 rg BT 508.31 585.10 Td (months ) Tj ET Q q 0 0 0 rg BT 541.55 585.10 Td (as ) Tj ET Q q 0 0 0 rg BT 553.67 585.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 573.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.59 573.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.59 573.10 Td ( ) Tj ET Q q 0 0 0 rg BT 131.10 573.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 573.10 Td ($235,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.53 573.10 Td (. ) Tj ET Q q 0 0 0 rg BT 195.54 573.10 Td ( ) Tj ET Q q 0 0 0 rg BT 197.86 573.10 Td (There ) Tj ET Q q 0 0 0 rg BT 223.69 573.10 Td (were ) Tj ET Q q 0 0 0 rg BT 245.62 573.10 Td (no ) Tj ET Q q 0 0 0 rg BT 258.13 573.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 298.40 573.10 Td (in ) Tj ET Q q 0 0 0 rg BT 308.68 573.10 Td (an ) Tj ET Q q 0 0 0 rg BT 320.63 573.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 364.77 573.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 382.84 573.10 Td (position ) Tj ET Q q 0 0 0 rg BT 417.57 573.10 Td (for ) Tj ET Q q 0 0 0 rg BT 431.74 573.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 462.00 573.10 Td (than ) Tj ET Q q 0 0 0 rg BT 481.72 573.10 Td (twelve ) Tj ET Q q 0 0 0 rg BT 510.89 573.10 Td (months ) Tj ET Q q 0 0 0 rg BT 542.84 573.10 Td (as ) Tj ET Q q 0 0 0 rg BT 553.68 573.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 561.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 107.64 561.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.64 561.10 Td (. ) Tj ET Q q 0 0 0 rg BT 131.58 561.10 Td (The ) Tj ET Q q 0 0 0 rg BT 148.68 561.10 Td (total ) Tj ET Q q 0 0 0 rg BT 168.00 561.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 183.43 561.10 Td (value ) Tj ET Q q 0 0 0 rg BT 206.64 561.10 Td (of ) Tj ET Q q 0 0 0 rg BT 216.52 561.10 Td (the ) Tj ET Q q 0 0 0 rg BT 230.29 561.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 269.61 561.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 307.26 561.10 Td (in ) Tj ET Q q 0 0 0 rg BT 316.59 561.10 Td (an ) Tj ET Q q 0 0 0 rg BT 327.58 561.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 370.77 561.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 387.89 561.10 Td (position ) Tj ET Q q 0 0 0 rg BT 421.67 561.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 561.10 Td ($63.5 ) Tj ET Q q 0 0 0 rg BT 466.70 561.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.59 561.10 Td ( ) Tj ET Q q 0 0 0 rg BT 497.14 561.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.91 561.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 549.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 549.10 Td ( ) Tj ET Q q 0 0 0 rg BT 72.89 549.10 Td (with ) Tj ET Q q 0 0 0 rg BT 93.55 549.10 Td (a ) Tj ET Q q 0 0 0 rg BT 100.88 549.10 Td (total ) Tj ET Q q 0 0 0 rg BT 121.54 549.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 165.52 549.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 214.51 549.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 247.94 549.10 Td (to ) Tj ET Q q 0 0 0 rg BT 258.61 549.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 303.14 549.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 329.92 549.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.14 549.10 Td ($958,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.64 549.10 Td (. ) Tj ET Q q 0 0 0 rg BT 383.39 549.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 407.38 549.10 Td (has ) Tj ET Q q 0 0 0 rg BT 423.60 549.10 Td (the ) Tj ET Q q 0 0 0 rg BT 438.71 549.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 467.15 549.10 Td (and ) Tj ET Q q 0 0 0 rg BT 484.47 549.10 Td (intent ) Tj ET Q q 0 0 0 rg BT 510.13 549.10 Td (to ) Tj ET Q q 0 0 0 rg BT 520.80 549.10 Td (hold ) Tj ET Q q 0 0 0 rg BT 541.47 549.10 Td (these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 537.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 89.37 537.10 Td (until ) Tj ET Q q 0 0 0 rg BT 109.32 537.10 Td (their ) Tj ET Q q 0 0 0 rg BT 129.25 537.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 144.74 537.10 Td (value ) Tj ET Q q 0 0 0 rg BT 168.01 537.10 Td (is ) Tj ET Q q 0 0 0 rg BT 176.29 537.10 Td (recovered. ) Tj ET Q q 0 0 0 rg BT 219.70 537.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 262.86 537.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 285.58 537.10 Td (does ) Tj ET Q q 0 0 0 rg BT 305.52 537.10 Td (not ) Tj ET Q q 0 0 0 rg BT 319.91 537.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 347.62 537.10 Td (the ) Tj ET Q q 0 0 0 rg BT 361.44 537.10 Td (near ) Tj ET Q q 0 0 0 rg BT 380.26 537.10 Td (term ) Tj ET Q q 0 0 0 rg BT 400.20 537.10 Td (change ) Tj ET Q q 0 0 0 rg BT 430.12 537.10 Td (in ) Tj ET Q q 0 0 0 rg BT 439.51 537.10 Td (market ) Tj ET Q q 0 0 0 rg BT 468.89 537.10 Td (value ) Tj ET Q q 0 0 0 rg BT 492.15 537.10 Td (of ) Tj ET Q q 0 0 0 rg BT 502.09 537.10 Td (these ) Tj ET Q q 0 0 0 rg BT 524.25 537.10 Td (securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 525.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 525.10 Td (be ) Tj ET Q q 0 0 0 rg BT 72.22 525.10 Td (realized.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.96 508.10 Td (following ) Tj ET Q q 0 0 0 rg BT 109.25 508.10 Td (table ) Tj ET Q q 0 0 0 rg BT 131.09 508.10 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 181.27 508.10 Td (the ) Tj ET Q q 0 0 0 rg BT 195.89 508.10 Td (components ) Tj ET Q q 0 0 0 rg BT 246.63 508.10 Td (of ) Tj ET Q q 0 0 0 rg BT 257.36 508.10 Td (net ) Tj ET Q q 0 0 0 rg BT 271.99 508.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 318.28 508.10 Td (income ) Tj ET Q q 0 0 0 rg BT 350.12 508.10 Td (for ) Tj ET Q q 0 0 0 rg BT 364.19 508.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.82 508.10 Td (years ) Tj ET Q q 0 0 0 rg BT 402.32 508.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 428.61 508.10 Td (December ) Tj ET Q q 0 0 0 rg BT 472.10 508.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 487.01 508.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 509.42 508.10 Td (and ) Tj ET Q q 0 0 0 rg BT 526.27 508.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.27 508.10 Td ( ) Tj ET Q q 0 0 0 rg BT 548.68 508.10 Td (\(all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 86.39 496.10 Td (in ) Tj ET Q q 0 0 0 rg BT 96.67 496.10 Td ('000s\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 471.60 231.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 471.60 193.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 471.60 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 471.60 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 447.60 31.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 82.50 447.60 393.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 447.60 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 447.60 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 423.60 231.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 423.60 193.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 423.60 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 423.60 42.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 485.6 m 517.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 471.6 m 517.5 471.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 485.6 m 559.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 471.6 m 559.5 471.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 411.6 m 517.5 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 411.6 m 559.5 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 411.6 m 517.5 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 400.6 m 517.5 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 398.6 m 517.5 398.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 411.6 m 559.5 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 400.6 m 559.5 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 398.6 m 559.5 398.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.00 476.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.00 476.28 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 462.22 Td (Total investment income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 450.22 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 450.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.10 450.22 Td (2,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 450.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.10 450.22 Td (2,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 438.22 Td (Dividends) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.65 438.22 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 438.22 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.00 426.22 Td (Income \(loss\) from other investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 426.22 Td (693) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.30 426.22 Td (\(84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.65 426.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 414.22 Td (Investment expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.30 414.22 Td (\(451) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 414.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 414.22 Td (\(500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.65 414.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 402.22 Td (Net investment income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 402.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.10 402.22 Td (3,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 402.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.10 402.22 Td (2,141) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (The following table summarizes the components of net investment realized gains for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.73 376.10 Td (years ended December 31, 2014 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 364.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 341.60 144.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 341.60 144.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 341.60 138.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 341.60 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 341.60 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 317.60 144.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 317.60 144.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 317.60 138.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 317.60 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 317.60 43.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 353.6 m 519.5 353.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 341.6 m 519.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 353.6 m 562.5 353.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 341.6 m 562.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 341.6 m 519.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 341.6 m 562.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 317.6 m 519.5 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 306.6 m 519.5 306.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 304.6 m 519.5 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 317.6 m 562.5 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 306.6 m 562.5 306.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 304.6 m 562.5 304.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 344.33 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.50 344.33 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 332.22 Td (Fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 332.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.65 332.22 Td (376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 332.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 332.22 Td (351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 320.22 Td (Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.65 320.22 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 320.22 Td (178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 308.22 Td (Net investment realized gains) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 308.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.65 308.22 Td (382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 308.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 308.22 Td (529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 564.00 306.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 277.10 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 95.26 277.10 Td (pledged:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 260.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.44 260.10 Td (December ) Tj ET Q q 0 0 0 rg BT 107.97 260.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 123.91 260.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 147.35 260.10 Td (and ) Tj ET Q q 0 0 0 rg BT 165.23 260.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.23 260.10 Td (, ) Tj ET Q q 0 0 0 rg BT 191.18 260.10 Td (bonds ) Tj ET Q q 0 0 0 rg BT 218.51 260.10 Td (and ) Tj ET Q q 0 0 0 rg BT 236.39 260.10 Td (term ) Tj ET Q q 0 0 0 rg BT 258.16 260.10 Td (deposits ) Tj ET Q q 0 0 0 rg BT 294.38 260.10 Td (with ) Tj ET Q q 0 0 0 rg BT 315.60 260.10 Td (a ) Tj ET Q q 0 0 0 rg BT 323.48 260.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 340.80 260.10 Td (value ) Tj ET Q q 0 0 0 rg BT 365.90 260.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.67 260.10 Td ($14.5 ) Tj ET Q q 0 0 0 rg BT 403.61 260.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.50 260.10 Td ( ) Tj ET Q q 0 0 0 rg BT 435.95 260.10 Td (were ) Tj ET Q q 0 0 0 rg BT 458.82 260.10 Td (on ) Tj ET Q q 0 0 0 rg BT 472.26 260.10 Td (deposit ) Tj ET Q q 0 0 0 rg BT 504.59 260.10 Td (with ) Tj ET Q q 0 0 0 rg BT 525.81 260.10 Td (state ) Tj ET Q q 0 0 0 rg BT 547.58 260.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 248.10 Td (provincial ) Tj ET Q q 0 0 0 rg BT 92.47 248.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 135.50 248.10 Td (authorities. ) Tj ET Q q 0 0 0 rg BT 181.72 248.10 Td (Also, ) Tj ET Q q 0 0 0 rg BT 205.04 248.10 Td (from ) Tj ET Q q 0 0 0 rg BT 226.41 248.10 Td (time ) Tj ET Q q 0 0 0 rg BT 246.12 248.10 Td (to ) Tj ET Q q 0 0 0 rg BT 255.83 248.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 278.04 248.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.19 248.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 333.01 248.10 Td (pledges ) Tj ET Q q 0 0 0 rg BT 365.49 248.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 405.18 248.10 Td (to ) Tj ET Q q 0 0 0 rg BT 414.89 248.10 Td (third ) Tj ET Q q 0 0 0 rg BT 435.71 248.10 Td (parties ) Tj ET Q q 0 0 0 rg BT 464.30 248.10 Td (to ) Tj ET Q q 0 0 0 rg BT 474.01 248.10 Td (collateralize ) Tj ET Q q 0 0 0 rg BT 524.80 248.10 Td (liabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 86.08 236.10 Td (under ) Tj ET Q q 0 0 0 rg BT 111.61 236.10 Td (its ) Tj ET Q q 0 0 0 rg BT 123.82 236.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 157.68 236.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.77 236.10 Td (insurance. ) Tj ET Q q 0 0 0 rg BT 212.35 236.10 Td ( ) Tj ET Q q 0 0 0 rg BT 214.50 236.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.26 236.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 286.11 236.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.11 236.10 Td (, ) Tj ET Q q 0 0 0 rg BT 311.37 236.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.35 236.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 359.10 236.10 Td (of ) Tj ET Q q 0 0 0 rg BT 370.19 236.10 Td (such ) Tj ET Q q 0 0 0 rg BT 391.29 236.10 Td (pledged ) Tj ET Q q 0 0 0 rg BT 425.70 236.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 466.23 236.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.54 236.10 Td ($6.8 ) Tj ET Q q 0 0 0 rg BT 504.80 236.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.69 236.10 Td ( ) Tj ET Q q 0 0 0 rg BT 536.45 236.10 Td (versus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.10 Td ($7.9 ) Tj ET Q q 0 0 0 rg BT 70.07 224.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.96 224.10 Td ( ) Tj ET Q q 0 0 0 rg BT 101.52 224.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.31 224.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 169.96 224.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.96 224.10 Td (. ) Tj ET Q q 0 0 0 rg BT 195.02 224.10 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 237.02 224.10 Td (pledging ) Tj ET Q q 0 0 0 rg BT 274.58 224.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 324.91 224.10 Td (are ) Tj ET Q q 0 0 0 rg BT 339.68 224.10 Td (conducted ) Tj ET Q q 0 0 0 rg BT 383.34 224.10 Td (under ) Tj ET Q q 0 0 0 rg BT 408.67 224.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 433.46 224.10 Td (that ) Tj ET Q q 0 0 0 rg BT 451.02 224.10 Td (are ) Tj ET Q q 0 0 0 rg BT 465.79 224.10 Td (common ) Tj ET Q q 0 0 0 rg BT 503.35 224.10 Td (and ) Tj ET Q q 0 0 0 rg BT 520.36 224.10 Td (customary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.99 212.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 96.08 212.10 Td (collateral ) Tj ET Q q 0 0 0 rg BT 135.49 212.10 Td (pledging ) Tj ET Q q 0 0 0 rg BT 172.69 212.10 Td (and ) Tj ET Q q 0 0 0 rg BT 189.34 212.10 Td (are ) Tj ET Q q 0 0 0 rg BT 203.76 212.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 234.29 212.10 Td (to ) Tj ET Q q 0 0 0 rg BT 244.28 212.10 Td (the ) Tj ET Q q 0 0 0 rg BT 258.71 212.10 Td (Company) Tj ET Q q 0 0 0 rg BT 300.38 212.10 Td (s ) Tj ET Q q 0 0 0 rg BT 306.48 212.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 342.57 212.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 359.78 212.10 Td (management ) Tj ET Q q 0 0 0 rg BT 413.08 212.10 Td (controls. ) Tj ET Q q 0 0 0 rg BT 449.85 212.10 Td (These ) Tj ET Q q 0 0 0 rg BT 475.93 212.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 501.47 212.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.12 212.10 Td (investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.10 Td (income ) Tj ET Q q 0 0 0 rg BT 81.08 200.10 Td (related ) Tj ET Q q 0 0 0 rg BT 109.93 200.10 Td (thereto ) Tj ET Q q 0 0 0 rg BT 139.34 200.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 168.75 200.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.62 200.10 Td (property ) Tj ET Q q 0 0 0 rg BT 218.14 200.10 Td (of ) Tj ET Q q 0 0 0 rg BT 228.12 200.10 Td (the ) Tj ET Q q 0 0 0 rg BT 241.99 200.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 282.52 200.10 Td (while ) Tj ET Q q 0 0 0 rg BT 306.39 200.10 Td (pledged. ) Tj ET Q q 0 0 0 rg BT 342.19 200.10 Td (Neither ) Tj ET Q q 0 0 0 rg BT 373.82 200.10 Td (the ) Tj ET Q q 0 0 0 rg BT 387.69 200.10 Td (state ) Tj ET Q q 0 0 0 rg BT 407.66 200.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 434.86 200.10 Td (provincial ) Tj ET Q q 0 0 0 rg BT 477.05 200.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 519.79 200.10 Td (authorities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.10 Td (nor ) Tj ET Q q 0 0 0 rg BT 65.83 188.10 Td (any ) Tj ET Q q 0 0 0 rg BT 82.77 188.10 Td (other ) Tj ET Q q 0 0 0 rg BT 105.82 188.10 Td (third ) Tj ET Q q 0 0 0 rg BT 127.20 188.10 Td (party ) Tj ET Q q 0 0 0 rg BT 150.25 188.10 Td (has ) Tj ET Q q 0 0 0 rg BT 166.08 188.10 Td (the ) Tj ET Q q 0 0 0 rg BT 180.80 188.10 Td (right ) Tj ET Q q 0 0 0 rg BT 202.18 188.10 Td (to ) Tj ET Q q 0 0 0 rg BT 212.46 188.10 Td (re-pledge ) Tj ET Q q 0 0 0 rg BT 252.71 188.10 Td (or ) Tj ET Q q 0 0 0 rg BT 263.54 188.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 279.93 188.10 Td (said ) Tj ET Q q 0 0 0 rg BT 298.54 188.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 338.80 188.10 Td (held ) Tj ET Q q 0 0 0 rg BT 358.52 188.10 Td (on ) Tj ET Q q 0 0 0 rg BT 371.02 188.10 Td (deposit.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 164.30 Td (6. FINANCIAL) Tj ET Q q 0 0 0 rg BT 134.12 164.30 Td ( ) Tj ET Q q 0 0 0 rg BT 136.07 164.30 Td (AND CREDIT) Tj ET Q q 0 0 0 rg BT 198.95 164.30 Td ( RISK MANAGEMENT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 147.30 Td (By ) Tj ET Q q 0 0 0 rg BT 64.66 147.30 Td (virtue ) Tj ET Q q 0 0 0 rg BT 90.98 147.30 Td (of ) Tj ET Q q 0 0 0 rg BT 102.30 147.30 Td (the ) Tj ET Q q 0 0 0 rg BT 117.51 147.30 Td (nature ) Tj ET Q q 0 0 0 rg BT 145.49 147.30 Td (of ) Tj ET Q q 0 0 0 rg BT 156.16 147.30 Td (Atlas) Tj ET Q q 0 0 0 rg BT 179.85 147.30 Td ( ) Tj ET Q q 0 0 0 rg BT 182.85 147.30 Td (business ) Tj ET Q q 0 0 0 rg BT 219.73 147.30 Td (activities, ) Tj ET Q q 0 0 0 rg BT 261.32 147.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 299.30 147.30 Td (instruments ) Tj ET Q q 0 0 0 rg BT 348.95 147.30 Td (make ) Tj ET Q q 0 0 0 rg BT 373.60 147.30 Td (up ) Tj ET Q q 0 0 0 rg BT 386.60 147.30 Td (the ) Tj ET Q q 0 0 0 rg BT 401.81 147.30 Td (majority ) Tj ET Q q 0 0 0 rg BT 438.68 147.30 Td (of ) Tj ET Q q 0 0 0 rg BT 450.00 147.30 Td (the ) Tj ET Q q 0 0 0 rg BT 465.21 147.30 Td (balance ) Tj ET Q q 0 0 0 rg BT 498.74 147.30 Td (sheet. ) Tj ET Q q 0 0 0 rg BT 524.56 147.30 Td (The ) Tj ET Q q 0 0 0 rg BT 543.10 147.30 Td (risks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 135.30 Td (which ) Tj ET Q q 0 0 0 rg BT 77.18 135.30 Td (arise ) Tj ET Q q 0 0 0 rg BT 98.79 135.30 Td (from ) Tj ET Q q 0 0 0 rg BT 120.96 135.30 Td (transacting ) Tj ET Q q 0 0 0 rg BT 167.57 135.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 205.29 135.30 Td (instruments ) Tj ET Q q 0 0 0 rg BT 254.69 135.30 Td (include ) Tj ET Q q 0 0 0 rg BT 286.86 135.30 Td (credit ) Tj ET Q q 0 0 0 rg BT 312.36 135.30 Td (risk, ) Tj ET Q q 0 0 0 rg BT 332.60 135.30 Td (market ) Tj ET Q q 0 0 0 rg BT 363.10 135.30 Td (risk, ) Tj ET Q q 0 0 0 rg BT 383.34 135.30 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 419.97 135.30 Td (risk ) Tj ET Q q 0 0 0 rg BT 437.70 135.30 Td (and ) Tj ET Q q 0 0 0 rg BT 454.88 135.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 475.38 135.30 Td (flow ) Tj ET Q q 0 0 0 rg BT 496.45 135.30 Td (risk. ) Tj ET Q q 0 0 0 rg BT 516.49 135.30 Td (These ) Tj ET Q q 0 0 0 rg BT 543.10 135.30 Td (risks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 123.30 Td (may ) Tj ET Q q 0 0 0 rg BT 69.85 123.30 Td (be ) Tj ET Q q 0 0 0 rg BT 81.92 123.30 Td (caused ) Tj ET Q q 0 0 0 rg BT 111.76 123.30 Td (by ) Tj ET Q q 0 0 0 rg BT 124.40 123.30 Td (factors ) Tj ET Q q 0 0 0 rg BT 154.24 123.30 Td (specific ) Tj ET Q q 0 0 0 rg BT 187.96 123.30 Td (to ) Tj ET Q q 0 0 0 rg BT 198.37 123.30 Td (an ) Tj ET Q q 0 0 0 rg BT 210.45 123.30 Td (individual ) Tj ET Q q 0 0 0 rg BT 253.63 123.30 Td (instrument ) Tj ET Q q 0 0 0 rg BT 299.04 123.30 Td (or ) Tj ET Q q 0 0 0 rg BT 310.00 123.30 Td (factors ) Tj ET Q q 0 0 0 rg BT 339.84 123.30 Td (af) Tj ET Q q 0 0 0 rg BT 347.43 123.30 Td (fecting ) Tj ET Q q 0 0 0 rg BT 377.83 123.30 Td (all ) Tj ET Q q 0 0 0 rg BT 390.46 123.30 Td (instruments ) Tj ET Q q 0 0 0 rg BT 439.75 123.30 Td (traded ) Tj ET Q q 0 0 0 rg BT 467.37 123.30 Td (in ) Tj ET Q q 0 0 0 rg BT 477.78 123.30 Td (the ) Tj ET Q q 0 0 0 rg BT 492.63 123.30 Td (market. ) Tj ET Q q 0 0 0 rg BT 524.95 123.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 548.69 123.30 Td (has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 111.30 Td (a ) Tj ET Q q 0 0 0 rg BT 56.89 111.30 Td (risk ) Tj ET Q q 0 0 0 rg BT 74.34 111.30 Td (management ) Tj ET Q q 0 0 0 rg BT 127.89 111.30 Td (framework ) Tj ET Q q 0 0 0 rg BT 174.21 111.30 Td (in ) Tj ET Q q 0 0 0 rg BT 184.44 111.30 Td (place ) Tj ET Q q 0 0 0 rg BT 207.98 111.30 Td (to ) Tj ET Q q 0 0 0 rg BT 218.21 111.30 Td (monitor) Tj ET Q q 0 0 0 rg BT 249.48 111.30 Td (, ) Tj ET Q q 0 0 0 rg BT 254.43 111.30 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 290.19 111.30 Td (and ) Tj ET Q q 0 0 0 rg BT 307.08 111.30 Td (manage ) Tj ET Q q 0 0 0 rg BT 340.63 111.30 Td (the ) Tj ET Q q 0 0 0 rg BT 355.30 111.30 Td (risks ) Tj ET Q q 0 0 0 rg BT 376.65 111.30 Td (assumed ) Tj ET Q q 0 0 0 rg BT 413.54 111.30 Td (in ) Tj ET Q q 0 0 0 rg BT 423.77 111.30 Td (conducting ) Tj ET Q q 0 0 0 rg BT 470.65 111.30 Td (its ) Tj ET Q q 0 0 0 rg BT 482.55 111.30 Td (business. ) Tj ET Q q 0 0 0 rg BT 520.86 111.30 Td (Atlas) Tj ET Q q 0 0 0 rg BT 544.55 111.30 Td ( ) Tj ET Q q 0 0 0 rg BT 547.01 111.30 Td (risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 99.30 Td (management ) Tj ET Q q 0 0 0 rg BT 103.59 99.30 Td (policies ) Tj ET Q q 0 0 0 rg BT 137.19 99.30 Td (and ) Tj ET Q q 0 0 0 rg BT 154.13 99.30 Td (practices ) Tj ET Q q 0 0 0 rg BT 192.16 99.30 Td (are ) Tj ET Q q 0 0 0 rg BT 206.87 99.30 Td (as ) Tj ET Q q 0 0 0 rg BT 217.70 99.30 Td (follows:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 82.30 Td (Cr) Tj ET Q q 0 0 0 rg BT 61.48 82.30 Td (edit ) Tj ET Q q 0 0 0 rg BT 81.94 82.30 Td (risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.61 82.30 Td ( ) Tj ET Q q 0 0 0 rg BT 102.96 82.30 Td (- ) Tj ET Q q 0 0 0 rg BT 109.68 82.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 135.13 82.30 Td (is ) Tj ET Q q 0 0 0 rg BT 146.15 82.30 Td (exposed ) Tj ET Q q 0 0 0 rg BT 183.27 82.30 Td (to ) Tj ET Q q 0 0 0 rg BT 195.40 82.30 Td (credit ) Tj ET Q q 0 0 0 rg BT 222.51 82.30 Td (risk ) Tj ET Q q 0 0 0 rg BT 241.86 82.30 Td (principally ) Tj ET Q q 0 0 0 rg BT 289.53 82.30 Td (through ) Tj ET Q q 0 0 0 rg BT 324.99 82.30 Td (its ) Tj ET Q q 0 0 0 rg BT 338.78 82.30 Td (fixed ) Tj ET Q q 0 0 0 rg BT 363.68 82.30 Td (income ) Tj ET Q q 0 0 0 rg BT 397.46 82.30 Td (securities ) Tj ET Q q 0 0 0 rg BT 439.57 82.30 Td (and ) Tj ET Q q 0 0 0 rg BT 458.36 82.30 Td (balances ) Tj ET Q q 0 0 0 rg BT 497.14 82.30 Td (receivable ) Tj ET Q q 0 0 0 rg BT 542.56 82.30 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.30 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 106.13 70.30 Td (and ) Tj ET Q q 0 0 0 rg BT 122.27 70.30 Td (reinsurers. ) Tj ET Q q 0 0 0 rg BT 165.52 70.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 188.33 70.30 Td (controls ) Tj ET Q q 0 0 0 rg BT 222.25 70.30 Td (and ) Tj ET Q q 0 0 0 rg BT 238.38 70.30 Td (monitors ) Tj ET Q q 0 0 0 rg BT 275.64 70.30 Td (concentration ) Tj ET Q q 0 0 0 rg BT 331.76 70.30 Td (and ) Tj ET Q q 0 0 0 rg BT 347.90 70.30 Td (credit ) Tj ET Q q 0 0 0 rg BT 372.36 70.30 Td (quality ) Tj ET Q q 0 0 0 rg BT 401.83 70.30 Td (risk ) Tj ET Q q 0 0 0 rg BT 418.53 70.30 Td (through ) Tj ET Q q 0 0 0 rg BT 451.34 70.30 Td (policies ) Tj ET Q q 0 0 0 rg BT 484.14 70.30 Td (to ) Tj ET Q q 0 0 0 rg BT 493.62 70.30 Td (limit ) Tj ET Q q 0 0 0 rg BT 514.21 70.30 Td (and ) Tj ET Q q 0 0 0 rg BT 530.35 70.30 Td (monitor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.30 Td (its ) Tj ET Q q 0 0 0 rg BT 62.34 58.30 Td (exposure ) Tj ET Q q 0 0 0 rg BT 101.32 58.30 Td (to ) Tj ET Q q 0 0 0 rg BT 111.99 58.30 Td (individual ) Tj ET Q q 0 0 0 rg BT 155.43 58.30 Td (issuers ) Tj ET Q q 0 0 0 rg BT 185.54 58.30 Td (or ) Tj ET Q q 0 0 0 rg BT 196.76 58.30 Td (related ) Tj ET Q q 0 0 0 rg BT 226.85 58.30 Td (groups ) Tj ET Q q 0 0 0 rg BT 256.96 58.30 Td (\(with ) Tj ET Q q 0 0 0 rg BT 280.95 58.30 Td (the ) Tj ET Q q 0 0 0 rg BT 296.06 58.30 Td (exception ) Tj ET Q q 0 0 0 rg BT 337.82 58.30 Td (of ) Tj ET Q q 0 0 0 rg BT 349.04 58.30 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 369.71 58.30 Td (Government ) Tj ET Q q 0 0 0 rg BT 422.58 58.30 Td (bonds\) ) Tj ET Q q 0 0 0 rg BT 452.69 58.30 Td (as ) Tj ET Q q 0 0 0 rg BT 463.91 58.30 Td (well ) Tj ET Q q 0 0 0 rg BT 484.02 58.30 Td (as ) Tj ET Q q 0 0 0 rg BT 495.23 58.30 Td (through ) Tj ET Q q 0 0 0 rg BT 529.23 58.30 Td (ongoing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.30 Td (review ) Tj ET Q q 0 0 0 rg BT 79.70 46.30 Td (of ) Tj ET Q q 0 0 0 rg BT 90.52 46.30 Td (the ) Tj ET Q q 0 0 0 rg BT 105.23 46.30 Td (credit ) Tj ET Q q 0 0 0 rg BT 130.48 46.30 Td (ratings ) Tj ET Q q 0 0 0 rg BT 160.19 46.30 Td (of ) Tj ET Q q 0 0 0 rg BT 171.01 46.30 Td (issuers ) Tj ET Q q 0 0 0 rg BT 200.73 46.30 Td (held ) Tj ET Q q 0 0 0 rg BT 220.44 46.30 Td (in ) Tj ET Q q 0 0 0 rg BT 230.71 46.30 Td (the ) Tj ET Q q 0 0 0 rg BT 245.42 46.30 Td (securities ) Tj ET Q q 0 0 0 rg BT 285.67 46.30 Td (portfolio. ) Tj ET Q q 0 0 0 rg BT 325.11 46.30 Td (Atlas) Tj ET Q q 0 0 0 rg BT 348.80 46.30 Td ( ) Tj ET Q q 0 0 0 rg BT 351.29 46.30 Td (credit ) Tj ET Q q 0 0 0 rg BT 376.55 46.30 Td (exposure ) Tj ET Q q 0 0 0 rg BT 415.14 46.30 Td (to ) Tj ET Q q 0 0 0 rg BT 425.41 46.30 Td (any ) Tj ET Q q 0 0 0 rg BT 442.34 46.30 Td (one ) Tj ET Q q 0 0 0 rg BT 459.27 46.30 Td (individual ) Tj ET Q q 0 0 0 rg BT 502.31 46.30 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 555.35 46.30 Td (is ) Tj ET Q endstream endobj 137 0 obj <> endobj 138 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (not ) Tj ET Q q 0 0 0 rg BT 65.94 742.10 Td (material. ) Tj ET Q q 0 0 0 rg BT 103.65 742.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 127.92 742.10 Td (has ) Tj ET Q q 0 0 0 rg BT 144.41 742.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 178.67 742.10 Td (requiring ) Tj ET Q q 0 0 0 rg BT 218.48 742.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 263.29 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.77 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 290.15 742.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 328.28 742.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 369.21 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 380.70 742.10 Td (its ) Tj ET Q q 0 0 0 rg BT 393.30 742.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 435.89 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.49 742.10 Td (monitors ) Tj ET Q q 0 0 0 rg BT 492.20 742.10 Td (concentrations ) Tj ET Q q 0 0 0 rg BT 553.67 742.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 74.49 730.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 91.22 730.10 Td (arising ) Tj ET Q q 0 0 0 rg BT 120.17 730.10 Td (from ) Tj ET Q q 0 0 0 rg BT 141.33 730.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 170.83 730.10 Td (geographic ) Tj ET Q q 0 0 0 rg BT 216.99 730.10 Td (regions, ) Tj ET Q q 0 0 0 rg BT 250.65 730.10 Td (activities, ) Tj ET Q q 0 0 0 rg BT 290.98 730.10 Td (or ) Tj ET Q q 0 0 0 rg BT 301.04 730.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 341.64 730.10 Td (characteristics ) Tj ET Q q 0 0 0 rg BT 400.56 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 410.62 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 424.56 730.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 465.72 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 475.22 730.10 Td (minimize ) Tj ET Q q 0 0 0 rg BT 514.72 730.10 Td (its ) Tj ET Q q 0 0 0 rg BT 525.90 730.10 Td (exposure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 718.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 104.99 718.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 131.38 718.10 Td (from ) Tj ET Q q 0 0 0 rg BT 153.32 718.10 Td (reinsurer ) Tj ET Q q 0 0 0 rg BT 191.36 718.10 Td (insolvency) Tj ET Q q 0 0 0 rg BT 234.03 718.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 701.10 Td (As ) Tj ET Q q 0 0 0 rg BT 64.42 701.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.05 701.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 135.44 701.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.44 701.10 Td (, ) Tj ET Q q 0 0 0 rg BT 160.51 701.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 186.72 701.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 230.56 701.10 Td (for ) Tj ET Q q 0 0 0 rg BT 245.52 701.10 Td (bad ) Tj ET Q q 0 0 0 rg BT 263.27 701.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 283.79 701.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.64 701.10 Td ($560,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.14 701.10 Td (. ) Tj ET Q q 0 0 0 rg BT 345.21 701.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 371.43 701.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 415.26 701.10 Td (for ) Tj ET Q q 0 0 0 rg BT 430.23 701.10 Td (bad ) Tj ET Q q 0 0 0 rg BT 447.97 701.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 468.49 701.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 511.21 701.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.51 701.10 Td ($216,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.01 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 564.51 701.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 689.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 91.80 689.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.95 689.10 Td ($776,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.45 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 141.83 689.10 Td (as ) Tj ET Q q 0 0 0 rg BT 152.53 689.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.24 689.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 221.70 689.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.70 689.10 Td (. ) Tj ET Q q 0 0 0 rg BT 246.40 689.10 Td (This ) Tj ET Q q 0 0 0 rg BT 266.56 689.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 303.35 689.10 Td (relates ) Tj ET Q q 0 0 0 rg BT 331.82 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 341.97 689.10 Td (formulaic ) Tj ET Q q 0 0 0 rg BT 383.22 689.10 Td (modeling ) Tj ET Q q 0 0 0 rg BT 423.37 689.10 Td (utilizing ) Tj ET Q q 0 0 0 rg BT 459.07 689.10 Td (historic ) Tj ET Q q 0 0 0 rg BT 491.44 689.10 Td (bad ) Tj ET Q q 0 0 0 rg BT 508.26 689.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 527.85 689.10 Td (patterns.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 672.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 82.31 672.10 Td (price ) Tj ET Q q 0 0 0 rg BT 107.37 672.10 Td (risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.04 672.10 Td ( ) Tj ET Q q 0 0 0 rg BT 127.45 672.10 Td (- ) Tj ET Q q 0 0 0 rg BT 133.94 672.10 Td (This ) Tj ET Q q 0 0 0 rg BT 155.12 672.10 Td (is ) Tj ET Q q 0 0 0 rg BT 165.20 672.10 Td (the ) Tj ET Q q 0 0 0 rg BT 180.83 672.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 199.23 672.10 Td (of ) Tj ET Q q 0 0 0 rg BT 210.97 672.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 229.94 672.10 Td (due ) Tj ET Q q 0 0 0 rg BT 247.78 672.10 Td (to ) Tj ET Q q 0 0 0 rg BT 258.97 672.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 292.91 672.10 Td (movements ) Tj ET Q q 0 0 0 rg BT 342.43 672.10 Td (in ) Tj ET Q q 0 0 0 rg BT 353.61 672.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 382.01 672.10 Td (prices. ) Tj ET Q q 0 0 0 rg BT 411.05 672.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 437.36 672.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 484.65 672.10 Td (in ) Tj ET Q q 0 0 0 rg BT 495.84 672.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 524.24 672.10 Td (securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 660.10 Td (comprises ) Tj ET Q q 0 0 0 rg BT 93.05 660.10 Td (a ) Tj ET Q q 0 0 0 rg BT 99.99 660.10 Td (small ) Tj ET Q q 0 0 0 rg BT 124.15 660.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 169.95 660.10 Td (of ) Tj ET Q q 0 0 0 rg BT 180.78 660.10 Td (its ) Tj ET Q q 0 0 0 rg BT 192.73 660.10 Td (total ) Tj ET Q q 0 0 0 rg BT 213.00 660.10 Td (portfolio, ) Tj ET Q q 0 0 0 rg BT 253.00 660.10 Td (and ) Tj ET Q q 0 0 0 rg BT 269.94 660.10 Td (as ) Tj ET Q q 0 0 0 rg BT 280.77 660.10 Td (a ) Tj ET Q q 0 0 0 rg BT 287.71 660.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 314.92 660.10 Td (the ) Tj ET Q q 0 0 0 rg BT 329.64 660.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 368.24 660.10 Td (to ) Tj ET Q q 0 0 0 rg BT 378.52 660.10 Td (this ) Tj ET Q q 0 0 0 rg BT 395.46 660.10 Td (type ) Tj ET Q q 0 0 0 rg BT 415.18 660.10 Td (of ) Tj ET Q q 0 0 0 rg BT 426.01 660.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 443.51 660.10 Td (is ) Tj ET Q q 0 0 0 rg BT 452.68 660.10 Td (minimal.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 643.10 Td (For) Tj ET Q q 0 0 0 rg BT 65.37 643.10 Td (eign ) Tj ET Q q 0 0 0 rg BT 85.86 643.10 Td (curr) Tj ET Q q 0 0 0 rg BT 104.55 643.10 Td (ency ) Tj ET Q q 0 0 0 rg BT 126.70 643.10 Td (risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.37 643.10 Td ( ) Tj ET Q q 0 0 0 rg BT 146.08 643.10 Td (- ) Tj ET Q q 0 0 0 rg BT 151.53 643.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 175.35 643.10 Td (is ) Tj ET Q q 0 0 0 rg BT 184.73 643.10 Td (not ) Tj ET Q q 0 0 0 rg BT 200.22 643.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 239.02 643.10 Td (exposed ) Tj ET Q q 0 0 0 rg BT 274.50 643.10 Td (to ) Tj ET Q q 0 0 0 rg BT 284.99 643.10 Td (material ) Tj ET Q q 0 0 0 rg BT 320.46 643.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 355.38 643.10 Td (in ) Tj ET Q q 0 0 0 rg BT 365.87 643.10 Td (the ) Tj ET Q q 0 0 0 rg BT 380.80 643.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 401.29 643.10 Td (dollar ) Tj ET Q q 0 0 0 rg BT 427.33 643.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 465.02 643.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 505.48 643.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 527.07 643.10 Td (with ) Tj ET Q q 0 0 0 rg BT 547.56 643.10 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.10 Td (other ) Tj ET Q q 0 0 0 rg BT 73.05 631.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 104.42 631.10 Td (currency) Tj ET Q q 0 0 0 rg BT 138.75 631.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 614.10 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 92.08 614.10 Td (and ) Tj ET Q q 0 0 0 rg BT 110.26 614.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 131.21 614.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 151.59 614.10 Td (risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.26 614.10 Td ( ) Tj ET Q q 0 0 0 rg BT 170.32 614.10 Td (- ) Tj ET Q q 0 0 0 rg BT 175.71 614.10 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 214.99 614.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 232.04 614.10 Td (is ) Tj ET Q q 0 0 0 rg BT 240.77 614.10 Td (the ) Tj ET Q q 0 0 0 rg BT 255.04 614.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 272.10 614.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.49 614.10 Td (having ) Tj ET Q q 0 0 0 rg BT 311.76 614.10 Td (insuf) Tj ET Q q 0 0 0 rg BT 331.58 614.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 359.18 614.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 379.01 614.10 Td (resources ) Tj ET Q q 0 0 0 rg BT 418.82 614.10 Td (to ) Tj ET Q q 0 0 0 rg BT 428.66 614.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 450.15 614.10 Td (current ) Tj ET Q q 0 0 0 rg BT 480.52 614.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 517.56 614.10 Td (obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 602.10 Td (without ) Tj ET Q q 0 0 0 rg BT 82.85 602.10 Td (raising ) Tj ET Q q 0 0 0 rg BT 112.35 602.10 Td (funds ) Tj ET Q q 0 0 0 rg BT 136.87 602.10 Td (at ) Tj ET Q q 0 0 0 rg BT 146.37 602.10 Td (unfavorable ) Tj ET Q q 0 0 0 rg BT 196.42 602.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 217.58 602.10 Td (or ) Tj ET Q q 0 0 0 rg BT 228.20 602.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 257.16 602.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 282.78 602.10 Td (on ) Tj ET Q q 0 0 0 rg BT 295.07 602.10 Td (a ) Tj ET Q q 0 0 0 rg BT 301.80 602.10 Td (forced ) Tj ET Q q 0 0 0 rg BT 329.62 602.10 Td (basis. ) Tj ET Q q 0 0 0 rg BT 354.41 602.10 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 393.93 602.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 411.22 602.10 Td (arises ) Tj ET Q q 0 0 0 rg BT 436.27 602.10 Td (from ) Tj ET Q q 0 0 0 rg BT 458.00 602.10 Td (general ) Tj ET Q q 0 0 0 rg BT 489.72 602.10 Td (business ) Tj ET Q q 0 0 0 rg BT 525.90 602.10 Td (activities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 590.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.23 590.10 Td (in ) Tj ET Q q 0 0 0 rg BT 77.81 590.10 Td (the ) Tj ET Q q 0 0 0 rg BT 92.82 590.10 Td (course ) Tj ET Q q 0 0 0 rg BT 121.71 590.10 Td (of ) Tj ET Q q 0 0 0 rg BT 132.84 590.10 Td (managing ) Tj ET Q q 0 0 0 rg BT 175.07 590.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.08 590.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 216.21 590.10 Td (and ) Tj ET Q q 0 0 0 rg BT 233.44 590.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 273.45 590.10 Td (of ) Tj ET Q q 0 0 0 rg BT 283.96 590.10 Td (Atlas. ) Tj ET Q q 0 0 0 rg BT 310.16 590.10 Td (There ) Tj ET Q q 0 0 0 rg BT 336.27 590.10 Td (is ) Tj ET Q q 0 0 0 rg BT 345.74 590.10 Td (the ) Tj ET Q q 0 0 0 rg BT 360.75 590.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 378.55 590.10 Td (of ) Tj ET Q q 0 0 0 rg BT 389.67 590.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 408.03 590.10 Td (to ) Tj ET Q q 0 0 0 rg BT 418.60 590.10 Td (the ) Tj ET Q q 0 0 0 rg BT 433.61 590.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 460.84 590.10 Td (that ) Tj ET Q q 0 0 0 rg BT 478.63 590.10 Td (the ) Tj ET Q q 0 0 0 rg BT 493.65 590.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 511.99 590.10 Td (of ) Tj ET Q q 0 0 0 rg BT 523.11 590.10 Td (a ) Tj ET Q q 0 0 0 rg BT 530.35 590.10 Td (security ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 578.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 71.54 578.10 Td (to ) Tj ET Q q 0 0 0 rg BT 81.41 578.10 Td (its ) Tj ET Q q 0 0 0 rg BT 92.96 578.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 128.94 578.10 Td (is ) Tj ET Q q 0 0 0 rg BT 137.70 578.10 Td (required ) Tj ET Q q 0 0 0 rg BT 173.12 578.10 Td (to ) Tj ET Q q 0 0 0 rg BT 182.99 578.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 215.63 578.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 251.62 578.10 Td (to ) Tj ET Q q 0 0 0 rg BT 261.50 578.10 Td (satisfy ) Tj ET Q q 0 0 0 rg BT 289.70 578.10 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 342.34 578.10 Td (and ) Tj ET Q q 0 0 0 rg BT 358.88 578.10 Td (other ) Tj ET Q q 0 0 0 rg BT 381.52 578.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 401.39 578.10 Td (outflows. ) Tj ET Q q 0 0 0 rg BT 440.99 578.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 463.08 578.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 483.51 578.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 500.61 578.10 Td (arises ) Tj ET Q q 0 0 0 rg BT 525.47 578.10 Td (from ) Tj ET Q q 0 0 0 rg BT 547.01 578.10 Td (risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 566.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.80 566.10 Td (future ) Tj ET Q q 0 0 0 rg BT 94.48 566.10 Td (inflation ) Tj ET Q q 0 0 0 rg BT 131.16 566.10 Td (of ) Tj ET Q q 0 0 0 rg BT 142.29 566.10 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 195.63 566.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 216.21 566.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 237.34 566.10 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 271.78 566.10 Td (returns ) Tj ET Q q 0 0 0 rg BT 302.35 566.10 Td (on ) Tj ET Q q 0 0 0 rg BT 315.16 566.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 357.39 566.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 404.08 566.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 446.94 566.10 Td (The ) Tj ET Q q 0 0 0 rg BT 465.29 566.10 Td (purpose ) Tj ET Q q 0 0 0 rg BT 499.75 566.10 Td (of ) Tj ET Q q 0 0 0 rg BT 510.88 566.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 547.57 566.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 554.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 69.96 554.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 90.48 554.10 Td (management ) Tj ET Q q 0 0 0 rg BT 143.75 554.10 Td (is ) Tj ET Q q 0 0 0 rg BT 152.61 554.10 Td (to ) Tj ET Q q 0 0 0 rg BT 162.58 554.10 Td (ensure ) Tj ET Q q 0 0 0 rg BT 190.87 554.10 Td (that ) Tj ET Q q 0 0 0 rg BT 208.05 554.10 Td (there ) Tj ET Q q 0 0 0 rg BT 230.23 554.10 Td (is ) Tj ET Q q 0 0 0 rg BT 239.09 554.10 Td (suf) Tj ET Q q 0 0 0 rg BT 251.13 554.10 Td (ficient ) Tj ET Q q 0 0 0 rg BT 278.86 554.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 298.81 554.10 Td (to ) Tj ET Q q 0 0 0 rg BT 308.78 554.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 330.40 554.10 Td (all ) Tj ET Q q 0 0 0 rg BT 342.59 554.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 379.76 554.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 436.39 554.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.01 554.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 499.65 554.10 Td (as ) Tj ET Q q 0 0 0 rg BT 510.16 554.10 Td (they ) Tj ET Q q 0 0 0 rg BT 529.57 554.10 Td (fall ) Tj ET Q q 0 0 0 rg BT 545.08 554.10 Td (due. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 542.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.35 542.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 105.04 542.10 Td (and ) Tj ET Q q 0 0 0 rg BT 122.29 542.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 142.86 542.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 163.99 542.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 218.99 542.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.51 542.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 253.20 542.10 Td ( ) Tj ET Q q 0 0 0 rg BT 256.01 542.10 Td (business ) Tj ET Q q 0 0 0 rg BT 292.70 542.10 Td (have ) Tj ET Q q 0 0 0 rg BT 314.38 542.10 Td (been ) Tj ET Q q 0 0 0 rg BT 336.06 542.10 Td (met ) Tj ET Q q 0 0 0 rg BT 353.86 542.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 393.87 542.10 Td (by ) Tj ET Q q 0 0 0 rg BT 406.68 542.10 Td (funds ) Tj ET Q q 0 0 0 rg BT 431.70 542.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 473.37 542.10 Td (from ) Tj ET Q q 0 0 0 rg BT 495.61 542.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 542.56 542.10 Td (asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.10 Td (maturities ) Tj ET Q q 0 0 0 rg BT 92.17 530.10 Td (and ) Tj ET Q q 0 0 0 rg BT 108.78 530.10 Td (income ) Tj ET Q q 0 0 0 rg BT 140.39 530.10 Td (and ) Tj ET Q q 0 0 0 rg BT 157.00 530.10 Td (other ) Tj ET Q q 0 0 0 rg BT 179.72 530.10 Td (returns ) Tj ET Q q 0 0 0 rg BT 209.67 530.10 Td (received ) Tj ET Q q 0 0 0 rg BT 245.71 530.10 Td (on ) Tj ET Q q 0 0 0 rg BT 257.88 530.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 300.32 530.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 322.50 530.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 360.22 530.10 Td (from ) Tj ET Q q 0 0 0 rg BT 381.83 530.10 Td (these ) Tj ET Q q 0 0 0 rg BT 404.55 530.10 Td (sources ) Tj ET Q q 0 0 0 rg BT 436.72 530.10 Td (is ) Tj ET Q q 0 0 0 rg BT 445.56 530.10 Td (used ) Tj ET Q q 0 0 0 rg BT 466.07 530.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 505.46 530.10 Td (for ) Tj ET Q q 0 0 0 rg BT 519.29 530.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 547.57 530.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 76.62 518.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 124.91 518.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 161.52 518.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 204.25 518.10 Td (and ) Tj ET Q q 0 0 0 rg BT 223.09 518.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 265.26 518.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 307.95 518.10 Td (The ) Tj ET Q q 0 0 0 rg BT 327.90 518.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 358.42 518.10 Td (and ) Tj ET Q q 0 0 0 rg BT 377.26 518.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 411.67 518.10 Td (of ) Tj ET Q q 0 0 0 rg BT 424.40 518.10 Td (catastrophe ) Tj ET Q q 0 0 0 rg BT 474.34 518.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 504.85 518.10 Td (are ) Tj ET Q q 0 0 0 rg BT 521.46 518.10 Td (inherently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 506.10 Td (unpredictable ) Tj ET Q q 0 0 0 rg BT 106.92 506.10 Td (and ) Tj ET Q q 0 0 0 rg BT 123.86 506.10 Td (may ) Tj ET Q q 0 0 0 rg BT 143.57 506.10 Td (create ) Tj ET Q q 0 0 0 rg BT 169.94 506.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 210.19 506.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 246.58 506.10 Td (requirements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 489.10 Td (Fair) Tj ET Q q 0 0 0 rg BT 68.14 489.10 Td ( ) Tj ET Q q 0 0 0 rg BT 72.99 489.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.61 489.10 Td (- ) Tj ET Q q 0 0 0 rg BT 108.78 489.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 129.73 489.10 Td (value ) Tj ET Q q 0 0 0 rg BT 156.23 489.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 194.96 489.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 236.45 489.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 278.51 489.10 Td (of ) Tj ET Q q 0 0 0 rg BT 291.68 489.10 Td (the ) Tj ET Q q 0 0 0 rg BT 308.74 489.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 367.46 489.10 Td (that ) Tj ET Q q 0 0 0 rg BT 387.29 489.10 Td (would ) Tj ET Q q 0 0 0 rg BT 417.14 489.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 458.07 489.10 Td (be ) Tj ET Q q 0 0 0 rg BT 472.36 489.10 Td (agreed ) Tj ET Q q 0 0 0 rg BT 503.84 489.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 528.69 489.10 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 477.10 Td (knowledgeable, ) Tj ET Q q 0 0 0 rg BT 115.53 477.10 Td (willing ) Tj ET Q q 0 0 0 rg BT 146.37 477.10 Td (parties ) Tj ET Q q 0 0 0 rg BT 175.52 477.10 Td (who ) Tj ET Q q 0 0 0 rg BT 195.24 477.10 Td (are ) Tj ET Q q 0 0 0 rg BT 209.95 477.10 Td (under ) Tj ET Q q 0 0 0 rg BT 235.22 477.10 Td (no ) Tj ET Q q 0 0 0 rg BT 247.72 477.10 Td (compulsion ) Tj ET Q q 0 0 0 rg BT 296.88 477.10 Td (to ) Tj ET Q q 0 0 0 rg BT 307.16 477.10 Td (act.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.47 460.10 Td (records ) Tj ET Q q 0 0 0 rg BT 105.27 460.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.85 460.10 Td (available ) Tj ET Q q 0 0 0 rg BT 158.30 460.10 Td (for ) Tj ET Q q 0 0 0 rg BT 172.33 460.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 190.24 460.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 230.37 460.10 Td (held ) Tj ET Q q 0 0 0 rg BT 249.95 460.10 Td (in ) Tj ET Q q 0 0 0 rg BT 260.09 460.10 Td (its ) Tj ET Q q 0 0 0 rg BT 271.90 460.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 312.03 460.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 349.39 460.10 Td (at ) Tj ET Q q 0 0 0 rg BT 358.97 460.10 Td (their ) Tj ET Q q 0 0 0 rg BT 379.66 460.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 395.91 460.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 421.90 460.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 445.38 460.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 484.95 460.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 504.54 460.10 Td (the ) Tj ET Q q 0 0 0 rg BT 519.12 460.10 Td (services ) Tj ET Q q 0 0 0 rg BT 553.69 460.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (external ) Tj ET Q q 0 0 0 rg BT 83.95 448.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 123.46 448.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 153.54 448.10 Td (vendors ) Tj ET Q q 0 0 0 rg BT 186.94 448.10 Td (to ) Tj ET Q q 0 0 0 rg BT 196.47 448.10 Td (obtain ) Tj ET Q q 0 0 0 rg BT 223.21 448.10 Td (these ) Tj ET Q q 0 0 0 rg BT 245.51 448.10 Td (values. ) Tj ET Q q 0 0 0 rg BT 275.18 448.10 Td (The ) Tj ET Q q 0 0 0 rg BT 292.47 448.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 331.98 448.10 Td (are ) Tj ET Q q 0 0 0 rg BT 345.94 448.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 374.34 448.10 Td (using ) Tj ET Q q 0 0 0 rg BT 397.76 448.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 426.72 448.10 Td (market ) Tj ET Q q 0 0 0 rg BT 456.24 448.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 481.86 448.10 Td (or ) Tj ET Q q 0 0 0 rg BT 491.94 448.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 517.56 448.10 Td (established ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (using ) Tj ET Q q 0 0 0 rg BT 73.82 436.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 119.29 436.10 Td (market ) Tj ET Q q 0 0 0 rg BT 149.21 436.10 Td (inputs. ) Tj ET Q q 0 0 0 rg BT 178.31 436.10 Td (In ) Tj ET Q q 0 0 0 rg BT 188.79 436.10 Td (volatile ) Tj ET Q q 0 0 0 rg BT 220.94 436.10 Td (market ) Tj ET Q q 0 0 0 rg BT 250.85 436.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 297.17 436.10 Td (these ) Tj ET Q q 0 0 0 rg BT 319.87 436.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 349.24 436.10 Td (market ) Tj ET Q q 0 0 0 rg BT 379.16 436.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 405.19 436.10 Td (or ) Tj ET Q q 0 0 0 rg BT 415.67 436.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 461.14 436.10 Td (market ) Tj ET Q q 0 0 0 rg BT 491.06 436.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 517.66 436.10 Td (can ) Tj ET Q q 0 0 0 rg BT 533.69 436.10 Td (change ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (rapidly ) Tj ET Q q 0 0 0 rg BT 80.83 424.10 Td (causing ) Tj ET Q q 0 0 0 rg BT 113.87 424.10 Td (a ) Tj ET Q q 0 0 0 rg BT 120.81 424.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 165.52 424.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 195.23 424.10 Td (on ) Tj ET Q q 0 0 0 rg BT 207.73 424.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 224.11 424.10 Td (value ) Tj ET Q q 0 0 0 rg BT 248.27 424.10 Td (and ) Tj ET Q q 0 0 0 rg BT 265.21 424.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 302.69 424.10 Td (results ) Tj ET Q q 0 0 0 rg BT 331.29 424.10 Td (recorded. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 72.95 407.10 Td (employs ) Tj ET Q q 0 0 0 rg BT 108.68 407.10 Td (a ) Tj ET Q q 0 0 0 rg BT 114.97 407.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 130.69 407.10 Td (value ) Tj ET Q q 0 0 0 rg BT 154.19 407.10 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 193.79 407.10 Td (to ) Tj ET Q q 0 0 0 rg BT 203.41 407.10 Td (categorize ) Tj ET Q q 0 0 0 rg BT 246.33 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 260.40 407.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 286.69 407.10 Td (it ) Tj ET Q q 0 0 0 rg BT 294.09 407.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 313.16 407.10 Td (in ) Tj ET Q q 0 0 0 rg BT 322.78 407.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 361.84 407.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 406.45 407.10 Td (to ) Tj ET Q q 0 0 0 rg BT 416.07 407.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 451.23 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 465.29 407.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 481.01 407.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 506.88 407.10 Td (The ) Tj ET Q q 0 0 0 rg BT 524.27 407.10 Td (hierarchy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.10 Td (is ) Tj ET Q q 0 0 0 rg BT 60.47 395.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 105.92 395.10 Td (of ) Tj ET Q q 0 0 0 rg BT 118.05 395.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 149.06 395.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 176.74 395.10 Td (in ) Tj ET Q q 0 0 0 rg BT 188.31 395.10 Td (active ) Tj ET Q q 0 0 0 rg BT 215.98 395.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 251.43 395.10 Td (\(Level ) Tj ET Q q 0 0 0 rg BT 281.32 395.10 Td (1\), ) Tj ET Q q 0 0 0 rg BT 295.95 395.10 Td (third ) Tj ET Q q 0 0 0 rg BT 318.64 395.10 Td (party ) Tj ET Q q 0 0 0 rg BT 342.98 395.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 375.10 395.10 Td (models ) Tj ET Q q 0 0 0 rg BT 407.79 395.10 Td (using ) Tj ET Q q 0 0 0 rg BT 433.25 395.10 Td (available ) Tj ET Q q 0 0 0 rg BT 473.14 395.10 Td (trade, ) Tj ET Q q 0 0 0 rg BT 499.42 395.10 Td (bid ) Tj ET Q q 0 0 0 rg BT 516.00 395.10 Td (and ) Tj ET Q q 0 0 0 rg BT 534.23 395.10 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.10 Td (information ) Tj ET Q q 0 0 0 rg BT 100.50 383.10 Td (\(Level ) Tj ET Q q 0 0 0 rg BT 129.88 383.10 Td (2\) ) Tj ET Q q 0 0 0 rg BT 141.50 383.10 Td (and ) Tj ET Q q 0 0 0 rg BT 159.23 383.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 193.06 383.10 Td (models ) Tj ET Q q 0 0 0 rg BT 225.23 383.10 Td (without ) Tj ET Q q 0 0 0 rg BT 259.08 383.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 305.68 383.10 Td (market ) Tj ET Q q 0 0 0 rg BT 336.74 383.10 Td (information ) Tj ET Q q 0 0 0 rg BT 387.24 383.10 Td (\(Level ) Tj ET Q q 0 0 0 rg BT 416.62 383.10 Td (3\). ) Tj ET Q q 0 0 0 rg BT 430.50 383.10 Td (The ) Tj ET Q q 0 0 0 rg BT 449.33 383.10 Td (following ) Tj ET Q q 0 0 0 rg BT 491.51 383.10 Td (table ) Tj ET Q q 0 0 0 rg BT 514.23 383.10 Td (summarizes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 75.41 371.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 125.68 371.10 Td (at ) Tj ET Q q 0 0 0 rg BT 135.40 371.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 151.78 371.10 Td (value ) Tj ET Q q 0 0 0 rg BT 175.93 371.10 Td (as ) Tj ET Q q 0 0 0 rg BT 186.76 371.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.59 371.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 256.18 371.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.18 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 278.68 371.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.62 371.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 354.20 371.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.20 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 376.70 371.10 Td (\(all ) Tj ET Q q 0 0 0 rg BT 392.52 371.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 428.91 371.10 Td (in ) Tj ET Q q 0 0 0 rg BT 439.19 371.10 Td ('000s\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 355.60 310.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 355.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 355.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 355.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 355.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 331.60 310.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 331.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 331.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 331.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 331.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 307.60 310.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 307.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 307.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 307.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 307.60 50.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 355.6 m 410.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 355.6 m 460.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 355.6 m 510.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 355.6 m 560.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 343.6 m 410.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 343.6 m 460.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 343.6 m 510.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 343.6 m 560.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 307.6 m 410.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 296.6 m 410.5 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 294.6 m 410.5 294.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 307.6 m 460.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 296.6 m 460.5 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 294.6 m 460.5 294.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 307.6 m 510.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 296.6 m 510.5 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 294.6 m 510.5 294.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 307.6 m 560.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 296.6 m 560.5 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 294.6 m 560.5 294.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 346.33 Td (December 31, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.55 346.33 Td (Level 1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.55 346.33 Td (Level 2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.55 346.33 Td (Level 3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.05 346.33 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 334.22 Td (Fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.00 334.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 334.22 Td (12,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 334.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.10 334.22 Td (114,341) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 334.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 334.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 334.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.10 334.22 Td (126,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 322.22 Td (Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 322.22 Td (2,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 322.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 322.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 322.22 Td (2,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 310.22 Td (Other investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 310.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.15 310.22 Td (3,346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 310.22 Td (11,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 310.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 310.22 Td (14,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 298.22 Td (Totals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.00 298.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 298.22 Td (14,701) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 298.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.10 298.22 Td (117,687) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 298.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 298.22 Td (11,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 298.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.10 298.22 Td (143,408) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 280.60 310.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 280.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 280.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 280.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 280.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 256.60 310.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 256.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 256.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 256.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 256.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 232.60 310.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 232.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 232.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 232.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 232.60 50.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 280.6 m 410.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 268.6 m 410.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 280.6 m 460.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 268.6 m 460.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 280.6 m 510.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 268.6 m 510.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 280.6 m 560.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 268.6 m 560.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 268.6 m 410.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 268.6 m 460.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 268.6 m 510.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 268.6 m 560.5 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 232.60000000000002 m 410.5 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 221.60000000000002 m 410.5 221.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 219.60000000000002 m 410.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 232.60000000000002 m 460.5 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 221.60000000000002 m 460.5 221.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 219.60000000000002 m 460.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 232.60000000000002 m 510.5 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 221.60000000000002 m 510.5 221.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 219.60000000000002 m 510.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 232.60000000000002 m 560.5 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 221.60000000000002 m 560.5 221.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 219.60000000000002 m 560.5 219.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 271.33 Td (December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.55 271.33 Td (Level 1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.55 271.33 Td (Level 2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.55 271.33 Td (Level 3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.05 271.33 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 259.22 Td (Fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.00 259.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 259.22 Td (12,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 259.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.10 259.22 Td (115,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 259.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 259.22 Td (617) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 259.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.10 259.22 Td (128,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 247.22 Td (Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 247.22 Td (258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 247.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 247.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 247.22 Td (258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 235.22 Td (Other investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 235.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 235.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 235.22 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 235.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 235.22 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 223.22 Td (Totals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.00 223.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 223.22 Td (12,882) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.00 223.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.10 223.22 Td (115,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 223.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 223.22 Td (1,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 223.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.10 223.22 Td (130,077) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.34 204.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 115.72 204.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 166.28 204.10 Td (in ) Tj ET Q q 0 0 0 rg BT 176.86 204.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 200.20 204.10 Td (income ) Tj ET Q q 0 0 0 rg BT 232.43 204.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 272.98 204.10 Td (that ) Tj ET Q q 0 0 0 rg BT 290.77 204.10 Td (are ) Tj ET Q q 0 0 0 rg BT 305.77 204.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 346.33 204.10 Td (as ) Tj ET Q q 0 0 0 rg BT 357.46 204.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 383.02 204.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 390.81 204.10 Td (in ) Tj ET Q q 0 0 0 rg BT 401.38 204.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.39 204.10 Td (two ) Tj ET Q q 0 0 0 rg BT 434.19 204.10 Td (preceding ) Tj ET Q q 0 0 0 rg BT 476.41 204.10 Td (tables ) Tj ET Q q 0 0 0 rg BT 502.53 204.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 533.10 204.10 Td (only ) Tj ET Q q 0 0 0 rg BT 553.67 204.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 69.56 192.10 Td (T) Tj ET Q q 0 0 0 rg BT 75.31 192.10 Td (reasury ) Tj ET Q q 0 0 0 rg BT 106.65 192.10 Td (Securities. ) Tj ET Q q 0 0 0 rg BT 150.50 192.10 Td ( ) Tj ET Q q 0 0 0 rg BT 152.41 192.10 Td ( ) Tj ET Q q 0 0 0 rg BT 154.18 192.10 Td (The ) Tj ET Q q 0 0 0 rg BT 171.64 192.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 218.13 192.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 267.82 192.10 Td (in ) Tj ET Q q 0 0 0 rg BT 277.51 192.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 304.42 192.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 344.09 192.10 Td (that ) Tj ET Q q 0 0 0 rg BT 361.00 192.10 Td (are ) Tj ET Q q 0 0 0 rg BT 375.12 192.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 414.79 192.10 Td (as ) Tj ET Q q 0 0 0 rg BT 425.03 192.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 449.71 192.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 456.62 192.10 Td (in ) Tj ET Q q 0 0 0 rg BT 466.31 192.10 Td (the ) Tj ET Q q 0 0 0 rg BT 480.44 192.10 Td (two ) Tj ET Q q 0 0 0 rg BT 497.35 192.10 Td (preceding ) Tj ET Q q 0 0 0 rg BT 538.69 192.10 Td (tables ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 80.28 180.10 Td (of ) Tj ET Q q 0 0 0 rg BT 91.11 180.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 141.38 180.10 Td (in ) Tj ET Q q 0 0 0 rg BT 151.66 180.10 Td (publicly-traded ) Tj ET Q q 0 0 0 rg BT 215.25 180.10 Td (common ) Tj ET Q q 0 0 0 rg BT 252.74 180.10 Td (stocks. ) Tj ET Q q 0 0 0 rg BT 282.74 180.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.10 Td (The ) Tj ET Q q 0 0 0 rg BT 66.84 163.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 112.72 163.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 161.79 163.10 Td (in ) Tj ET Q q 0 0 0 rg BT 170.86 163.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 192.70 163.10 Td (income ) Tj ET Q q 0 0 0 rg BT 223.43 163.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 262.49 163.10 Td (that ) Tj ET Q q 0 0 0 rg BT 278.78 163.10 Td (are ) Tj ET Q q 0 0 0 rg BT 292.28 163.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 331.34 163.10 Td (as ) Tj ET Q q 0 0 0 rg BT 340.97 163.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 365.03 163.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 371.32 163.10 Td (in ) Tj ET Q q 0 0 0 rg BT 380.40 163.10 Td (the ) Tj ET Q q 0 0 0 rg BT 393.91 163.10 Td (two ) Tj ET Q q 0 0 0 rg BT 410.20 163.10 Td (preceding ) Tj ET Q q 0 0 0 rg BT 450.92 163.10 Td (tables ) Tj ET Q q 0 0 0 rg BT 475.54 163.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 504.62 163.10 Td (of ) Tj ET Q q 0 0 0 rg BT 514.24 163.10 Td (investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.77 151.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 99.51 151.10 Td (bonds, ) Tj ET Q q 0 0 0 rg BT 127.90 151.10 Td (states ) Tj ET Q q 0 0 0 rg BT 152.11 151.10 Td (and ) Tj ET Q q 0 0 0 rg BT 168.54 151.10 Td (political ) Tj ET Q q 0 0 0 rg BT 203.29 151.10 Td (subdivisions ) Tj ET Q q 0 0 0 rg BT 255.30 151.10 Td (bonds ) Tj ET Q q 0 0 0 rg BT 281.18 151.10 Td (and ) Tj ET Q q 0 0 0 rg BT 297.61 151.10 Td (mortgage-backed ) Tj ET Q q 0 0 0 rg BT 369.01 151.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 408.76 151.10 Td (of ) Tj ET Q q 0 0 0 rg BT 419.08 151.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 438.86 151.10 Td (government ) Tj ET Q q 0 0 0 rg BT 488.61 151.10 Td (agencies ) Tj ET Q q 0 0 0 rg BT 525.03 151.10 Td (and ) Tj ET Q q 0 0 0 rg BT 541.46 151.10 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.10 Td (asset-backed ) Tj ET Q q 0 0 0 rg BT 103.64 139.10 Td (bonds. ) Tj ET Q q 0 0 0 rg BT 132.59 139.10 Td ( ) Tj ET Q q 0 0 0 rg BT 134.96 139.10 Td (The ) Tj ET Q q 0 0 0 rg BT 153.06 139.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 200.20 139.10 Td (other ) Tj ET Q q 0 0 0 rg BT 223.30 139.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 273.63 139.10 Td (that ) Tj ET Q q 0 0 0 rg BT 291.18 139.10 Td (are ) Tj ET Q q 0 0 0 rg BT 305.95 139.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 346.27 139.10 Td (as ) Tj ET Q q 0 0 0 rg BT 357.15 139.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 382.47 139.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 390.03 139.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 420.36 139.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.25 139.10 Td (a ) Tj ET Q q 0 0 0 rg BT 438.24 139.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 469.13 139.10 Td (partnership ) Tj ET Q q 0 0 0 rg BT 516.67 139.10 Td (that ) Tj ET Q q 0 0 0 rg BT 534.22 139.10 Td (invests ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 127.10 Td (equities. ) Tj ET Q q 0 0 0 rg BT 96.38 127.10 Td ( ) Tj ET Q q 0 0 0 rg BT 98.88 127.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 110.10 Td (For ) Tj ET Q q 0 0 0 rg BT 66.56 110.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 107.00 110.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 147.44 110.10 Td (as ) Tj ET Q q 0 0 0 rg BT 158.44 110.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 183.87 110.10 Td (3, ) Tj ET Q q 0 0 0 rg BT 194.05 110.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.94 110.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 250.50 110.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 270.39 110.10 Td (valuations ) Tj ET Q q 0 0 0 rg BT 314.17 110.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 352.38 110.10 Td (by ) Tj ET Q q 0 0 0 rg BT 365.06 110.10 Td (third ) Tj ET Q q 0 0 0 rg BT 386.62 110.10 Td (party ) Tj ET Q q 0 0 0 rg BT 409.83 110.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 430.84 110.10 Td (managers. ) Tj ET Q q 0 0 0 rg BT 474.33 110.10 Td ( ) Tj ET Q q 0 0 0 rg BT 477.00 110.10 Td ( ) Tj ET Q q 0 0 0 rg BT 479.48 110.10 Td (These ) Tj ET Q q 0 0 0 rg BT 506.03 110.10 Td (valuations ) Tj ET Q q 0 0 0 rg BT 549.80 110.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.10 Td (typically ) Tj ET Q q 0 0 0 rg BT 86.77 98.10 Td (the ) Tj ET Q q 0 0 0 rg BT 100.76 98.10 Td (audited ) Tj ET Q q 0 0 0 rg BT 131.98 98.10 Td (net ) Tj ET Q q 0 0 0 rg BT 145.97 98.10 Td (book ) Tj ET Q q 0 0 0 rg BT 167.75 98.10 Td (value ) Tj ET Q q 0 0 0 rg BT 191.19 98.10 Td (for ) Tj ET Q q 0 0 0 rg BT 204.62 98.10 Td (each ) Tj ET Q q 0 0 0 rg BT 224.72 98.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 254.83 98.10 Td (partnership. ) Tj ET Q q 0 0 0 rg BT 304.09 98.10 Td ( ) Tj ET Q q 0 0 0 rg BT 305.74 98.10 Td (These ) Tj ET Q q 0 0 0 rg BT 331.40 98.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 361.51 98.10 Td (partnerships ) Tj ET Q q 0 0 0 rg BT 412.16 98.10 Td (invest ) Tj ET Q q 0 0 0 rg BT 437.83 98.10 Td (in ) Tj ET Q q 0 0 0 rg BT 447.38 98.10 Td (income-producing ) Tj ET Q q 0 0 0 rg BT 522.47 98.10 Td (real ) Tj ET Q q 0 0 0 rg BT 539.24 98.10 Td (estate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 86.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.83 86.10 Td (catastrophe ) Tj ET Q q 0 0 0 rg BT 108.86 86.10 Td (bonds. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 69.10 Td (Though ) Tj ET Q q 0 0 0 rg BT 83.16 69.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 106.91 69.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 142.31 69.10 Td (its ) Tj ET Q q 0 0 0 rg BT 154.39 69.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 194.24 69.10 Td (methods ) Tj ET Q q 0 0 0 rg BT 230.77 69.10 Td (are ) Tj ET Q q 0 0 0 rg BT 245.61 69.10 Td (appropriate, ) Tj ET Q q 0 0 0 rg BT 296.28 69.10 Td (the ) Tj ET Q q 0 0 0 rg BT 311.13 69.10 Td (use ) Tj ET Q q 0 0 0 rg BT 327.10 69.10 Td (of ) Tj ET Q q 0 0 0 rg BT 338.07 69.10 Td (dif) Tj ET Q q 0 0 0 rg BT 348.99 69.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 374.95 69.10 Td (methodologies ) Tj ET Q q 0 0 0 rg BT 436.46 69.10 Td (or ) Tj ET Q q 0 0 0 rg BT 447.43 69.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 499.52 69.10 Td (to ) Tj ET Q q 0 0 0 rg BT 509.93 69.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 552.55 69.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 57.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 66.12 57.10 Td (value ) Tj ET Q q 0 0 0 rg BT 90.02 57.10 Td (could ) Tj ET Q q 0 0 0 rg BT 114.48 57.10 Td (result ) Tj ET Q q 0 0 0 rg BT 138.95 57.10 Td (in ) Tj ET Q q 0 0 0 rg BT 148.97 57.10 Td (a ) Tj ET Q q 0 0 0 rg BT 155.65 57.10 Td (dif) Tj ET Q q 0 0 0 rg BT 166.58 57.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 192.14 57.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 208.26 57.10 Td (value ) Tj ET Q q 0 0 0 rg BT 232.16 57.10 Td (as ) Tj ET Q q 0 0 0 rg BT 242.74 57.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.31 57.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 311.64 57.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.64 57.10 Td (. ) Tj ET Q q 0 0 0 rg BT 336.39 57.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 390.84 57.10 Td (does ) Tj ET Q q 0 0 0 rg BT 411.41 57.10 Td (not ) Tj ET Q q 0 0 0 rg BT 426.43 57.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 457.55 57.10 Td (that ) Tj ET Q q 0 0 0 rg BT 474.79 57.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 519.79 57.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 554.24 57.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 45.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 45.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 91.67 45.10 Td (to ) Tj ET Q q 0 0 0 rg BT 101.94 45.10 Td (its ) Tj ET Q q 0 0 0 rg BT 113.89 45.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 153.60 45.10 Td (methodology ) Tj ET Q q 0 0 0 rg BT 208.88 45.10 Td (would ) Tj ET Q q 0 0 0 rg BT 236.38 45.10 Td (result ) Tj ET Q q 0 0 0 rg BT 261.09 45.10 Td (in ) Tj ET Q q 0 0 0 rg BT 271.37 45.10 Td (a ) Tj ET Q q 0 0 0 rg BT 278.31 45.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 330.80 45.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 358.85 45.10 Td (or ) Tj ET Q q 0 0 0 rg BT 369.68 45.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 394.95 45.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 411.32 45.10 Td (value ) Tj ET Q q 0 0 0 rg BT 435.48 45.10 Td (measurement. ) Tj ET Q endstream endobj 139 0 obj <> endobj 140 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (There ) Tj ET Q q 0 0 0 rg BT 75.82 742.10 Td (were ) Tj ET Q q 0 0 0 rg BT 97.74 742.10 Td (no ) Tj ET Q q 0 0 0 rg BT 110.24 742.10 Td (transfers ) Tj ET Q q 0 0 0 rg BT 147.17 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 157.45 742.10 Td (or ) Tj ET Q q 0 0 0 rg BT 168.28 742.10 Td (out ) Tj ET Q q 0 0 0 rg BT 183.56 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 194.39 742.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 219.65 742.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 227.15 742.10 Td (or ) Tj ET Q q 0 0 0 rg BT 237.98 742.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 263.25 742.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 270.75 742.10 Td (during ) Tj ET Q q 0 0 0 rg BT 299.36 742.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.07 742.10 Td (years ) Tj ET Q q 0 0 0 rg BT 337.67 742.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 364.05 742.10 Td (December ) Tj ET Q q 0 0 0 rg BT 407.63 742.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 422.63 742.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 445.13 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 462.07 742.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.07 742.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 725.10 Td (Information ) Tj ET Q q 0 0 0 rg BT 100.70 725.10 Td (by ) Tj ET Q q 0 0 0 rg BT 113.63 725.10 Td (security ) Tj ET Q q 0 0 0 rg BT 148.22 725.10 Td (type ) Tj ET Q q 0 0 0 rg BT 168.37 725.10 Td (pertaining ) Tj ET Q q 0 0 0 rg BT 211.85 725.10 Td (to ) Tj ET Q q 0 0 0 rg BT 222.56 725.10 Td (the ) Tj ET Q q 0 0 0 rg BT 237.71 725.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 272.86 725.10 Td (in ) Tj ET Q q 0 0 0 rg BT 283.57 725.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 300.38 725.10 Td (value ) Tj ET Q q 0 0 0 rg BT 324.97 725.10 Td (of ) Tj ET Q q 0 0 0 rg BT 336.24 725.10 Td (the ) Tj ET Q q 0 0 0 rg BT 351.39 725.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 398.90 725.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 449.61 725.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 490.31 725.10 Td (as ) Tj ET Q q 0 0 0 rg BT 501.57 725.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 527.27 725.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 535.21 725.10 Td (for ) Tj ET Q q 0 0 0 rg BT 549.80 725.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 713.10 Td (years ) Tj ET Q q 0 0 0 rg BT 73.60 713.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 99.98 713.10 Td (December ) Tj ET Q q 0 0 0 rg BT 143.56 713.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 158.56 713.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 181.06 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 198.00 713.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.00 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 220.50 713.10 Td (are ) Tj ET Q q 0 0 0 rg BT 235.21 713.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 276.02 713.10 Td (below ) Tj ET Q q 0 0 0 rg BT 302.96 713.10 Td (\(all ) Tj ET Q q 0 0 0 rg BT 318.78 713.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 355.17 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 365.45 713.10 Td ('000s\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 697.60 312.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 697.60 64.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 697.60 4.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 697.60 64.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 697.60 5.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 697.60 63.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 651.60 312.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 651.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 651.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 651.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 651.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 651.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 621.60 312.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 621.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 621.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 621.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 621.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 621.60 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 591.60 312.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 591.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 591.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 591.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 591.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 591.60 63.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 666.6 m 425.5 666.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 666.6 m 493.5 666.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 666.6 m 561.5 666.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 666.6 m 425.5 666.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 666.6 m 493.5 666.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 666.6 m 561.5 666.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 591.6 m 493.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 591.6 m 425.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 577.6 m 425.5 577.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 575.6 m 425.5 575.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 591.6 m 493.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 577.6 m 493.5 577.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 575.6 m 493.5 575.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 591.6 m 561.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 577.6 m 561.5 577.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 575.6 m 561.5 575.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 671.28 Td (December 31, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.05 688.33 Td (Fixed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 678.33 Td (Income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.15 668.38 Td (Securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.30 681.28 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.15 671.28 Td (Investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.55 671.28 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 656.27 Td (Balance at beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 656.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 656.27 Td (617) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.00 656.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 656.27 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 656.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 656.27 Td (1,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 641.27 Td (Total gains included in:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 626.27 Td (Consolidated statement of income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 626.27 Td (383) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 626.27 Td (286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 626.27 Td (669) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 611.27 Td (Purchases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 611.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 611.27 Td (9,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 611.27 Td (9,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 596.27 Td (Settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.80 596.32 Td (\(1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 596.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 596.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 596.32 Td (\(1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 596.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 581.27 Td (Balance at end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 581.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 581.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.00 581.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 581.27 Td (11,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 581.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 581.27 Td (11,020) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 561.60 310.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 561.60 64.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 561.60 64.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 561.60 64.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 515.60 310.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 515.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 515.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 515.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 515.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 515.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 485.60 310.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 485.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.50 485.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 485.60 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 485.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 485.60 64.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 530.6 m 423.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 530.6 m 561.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 530.6 m 423.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 530.6 m 492.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 530.6 m 561.5 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 485.6 m 423.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 471.6 m 423.5 471.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 469.6 m 423.5 469.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 485.6 m 492.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 471.6 m 492.5 471.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 469.6 m 492.5 469.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 485.6 m 561.5 485.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 471.6 m 561.5 471.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 469.6 m 561.5 469.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 535.28 Td (December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.05 552.33 Td (Fixed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 542.33 Td (Income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 532.38 Td (Securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.30 545.28 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.15 535.28 Td (Investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.05 535.28 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 520.27 Td (Balance at beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 520.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 520.27 Td (234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 520.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 520.27 Td (1,262) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 520.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 520.27 Td (1,496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 505.27 Td (Total gains \(losses\) included in:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 490.27 Td (Consolidated statement of income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 490.27 Td (383) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.30 490.32 Td (\(28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 490.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 490.27 Td (355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 475.27 Td (Balance at end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 475.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 475.27 Td (617) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 475.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 475.27 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 475.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 475.27 Td (1,851) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 437.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 83.15 437.10 Td (management) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.14 437.10 Td ( ) Tj ET Q q 0 0 0 rg BT 139.63 437.10 Td (- ) Tj ET Q q 0 0 0 rg BT 144.34 437.10 Td (The ) Tj ET Q q 0 0 0 rg BT 161.37 437.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 201.74 437.10 Td (manages ) Tj ET Q q 0 0 0 rg BT 238.21 437.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 266.34 437.10 Td (using ) Tj ET Q q 0 0 0 rg BT 289.50 437.10 Td (both ) Tj ET Q q 0 0 0 rg BT 308.76 437.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 351.34 437.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 379.47 437.10 Td (measures ) Tj ET Q q 0 0 0 rg BT 418.16 437.10 Td (and ) Tj ET Q q 0 0 0 rg BT 434.09 437.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 466.11 437.10 Td (metrics. ) Tj ET Q q 0 0 0 rg BT 499.42 437.10 Td (The ) Tj ET Q q 0 0 0 rg BT 516.46 437.10 Td (Company) Tj ET Q q 0 0 0 rg BT 558.12 437.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 79.78 425.10 Td (is ) Tj ET Q q 0 0 0 rg BT 89.58 425.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 129.93 425.10 Td (derived ) Tj ET Q q 0 0 0 rg BT 163.05 425.10 Td (from ) Tj ET Q q 0 0 0 rg BT 185.62 425.10 Td (common ) Tj ET Q q 0 0 0 rg BT 223.75 425.10 Td (shareholders) Tj ET Q q 0 0 0 rg BT 276.87 425.10 Td ( ) Tj ET Q q 0 0 0 rg BT 280.00 425.10 Td (equity) Tj ET Q q 0 0 0 rg BT 304.35 425.10 Td (, ) Tj ET Q q 0 0 0 rg BT 309.98 425.10 Td (retained ) Tj ET Q q 0 0 0 rg BT 345.31 425.10 Td (deficit ) Tj ET Q q 0 0 0 rg BT 373.99 425.10 Td (and ) Tj ET Q q 0 0 0 rg BT 391.56 425.10 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 445.22 425.10 Td (other ) Tj ET Q q 0 0 0 rg BT 468.90 425.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 532.56 425.10 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 413.10 Td (\(loss\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (As ) Tj ET Q q 0 0 0 rg BT 64.47 396.10 Td (a ) Tj ET Q q 0 0 0 rg BT 72.26 396.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 106.18 396.10 Td (company) Tj ET Q q 0 0 0 rg BT 142.18 396.10 Td (, ) Tj ET Q q 0 0 0 rg BT 147.30 396.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 171.76 396.10 Td (could ) Tj ET Q q 0 0 0 rg BT 197.33 396.10 Td (derive ) Tj ET Q q 0 0 0 rg BT 225.68 396.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 246.80 396.10 Td (from ) Tj ET Q q 0 0 0 rg BT 269.59 396.10 Td (its ) Tj ET Q q 0 0 0 rg BT 282.40 396.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 324.07 396.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 374.64 396.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 415.20 396.10 Td (in ) Tj ET Q q 0 0 0 rg BT 426.34 396.10 Td (the ) Tj ET Q q 0 0 0 rg BT 441.91 396.10 Td (form ) Tj ET Q q 0 0 0 rg BT 464.70 396.10 Td (of ) Tj ET Q q 0 0 0 rg BT 476.39 396.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 518.63 396.10 Td (to ) Tj ET Q q 0 0 0 rg BT 529.77 396.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 552.56 396.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.10 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 100.62 384.10 Td (which ) Tj ET Q q 0 0 0 rg BT 128.73 384.10 Td (will ) Tj ET Q q 0 0 0 rg BT 147.96 384.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 188.85 384.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 220.30 384.10 Td (of ) Tj ET Q q 0 0 0 rg BT 232.30 384.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 273.74 384.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 309.62 384.10 Td (payments. ) Tj ET Q q 0 0 0 rg BT 353.31 384.10 Td (Atlas) Tj ET Q q 0 0 0 rg BT 377.01 384.10 Td ( ) Tj ET Q q 0 0 0 rg BT 380.68 384.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 422.67 384.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 473.56 384.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 495.57 384.10 Td (their ) Tj ET Q q 0 0 0 rg BT 517.57 384.10 Td (obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 89.94 372.10 Td (through ) Tj ET Q q 0 0 0 rg BT 123.78 372.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 162.61 372.10 Td (and ) Tj ET Q q 0 0 0 rg BT 179.78 372.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 226.39 372.10 Td (income ) Tj ET Q q 0 0 0 rg BT 258.55 372.10 Td (and ) Tj ET Q q 0 0 0 rg BT 275.72 372.10 Td (maturities ) Tj ET Q q 0 0 0 rg BT 318.44 372.10 Td (in ) Tj ET Q q 0 0 0 rg BT 328.95 372.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.90 372.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 384.39 372.10 Td (portfolio. ) Tj ET Q q 0 0 0 rg BT 424.42 372.10 Td (The ) Tj ET Q q 0 0 0 rg BT 442.69 372.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 483.74 372.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 533.68 372.10 Td (require ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 94.16 360.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 132.21 360.10 Td (for ) Tj ET Q q 0 0 0 rg BT 146.94 360.10 Td (the ) Tj ET Q q 0 0 0 rg BT 162.23 360.10 Td (return ) Tj ET Q q 0 0 0 rg BT 189.17 360.10 Td (of ) Tj ET Q q 0 0 0 rg BT 200.57 360.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 230.29 360.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 250.29 360.10 Td (in ) Tj ET Q q 0 0 0 rg BT 261.14 360.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 291.41 360.10 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 353.62 360.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 376.13 360.10 Td (to ) Tj ET Q q 0 0 0 rg BT 386.97 360.10 Td (the ) Tj ET Q q 0 0 0 rg BT 402.26 360.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 439.76 360.10 Td (of ) Tj ET Q q 0 0 0 rg BT 451.16 360.10 Td (dividends. ) Tj ET Q q 0 0 0 rg BT 495.61 360.10 Td (In ) Tj ET Q q 0 0 0 rg BT 507.01 360.10 Td (the ) Tj ET Q q 0 0 0 rg BT 522.29 360.10 Td (event ) Tj ET Q q 0 0 0 rg BT 547.02 360.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 348.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 91.52 348.10 Td (available ) Tj ET Q q 0 0 0 rg BT 130.24 348.10 Td (to ) Tj ET Q q 0 0 0 rg BT 140.66 348.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.51 348.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 188.70 348.10 Td (company ) Tj ET Q q 0 0 0 rg BT 227.99 348.10 Td (are ) Tj ET Q q 0 0 0 rg BT 242.83 348.10 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 288.77 348.10 Td (to ) Tj ET Q q 0 0 0 rg BT 299.19 348.10 Td (cover ) Tj ET Q q 0 0 0 rg BT 324.03 348.10 Td (its ) Tj ET Q q 0 0 0 rg BT 336.11 348.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 376.51 348.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 417.74 348.10 Td (the ) Tj ET Q q 0 0 0 rg BT 432.59 348.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 465.78 348.10 Td (company ) Tj ET Q q 0 0 0 rg BT 505.07 348.10 Td (would ) Tj ET Q q 0 0 0 rg BT 532.71 348.10 Td (need ) Tj ET Q q 0 0 0 rg BT 554.22 348.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 336.10 Td (raise ) Tj ET Q q 0 0 0 rg BT 71.38 336.10 Td (capital, ) Tj ET Q q 0 0 0 rg BT 103.03 336.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 119.41 336.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 145.24 336.10 Td (or ) Tj ET Q q 0 0 0 rg BT 156.07 336.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 179.12 336.10 Td (future ) Tj ET Q q 0 0 0 rg BT 205.50 336.10 Td (debt. ) Tj ET Q q 0 0 0 rg BT 227.71 336.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.41 319.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 109.59 319.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 159.67 319.10 Td (must ) Tj ET Q q 0 0 0 rg BT 181.98 319.10 Td (each ) Tj ET Q q 0 0 0 rg BT 203.16 319.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 241.02 319.10 Td (a ) Tj ET Q q 0 0 0 rg BT 248.32 319.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 290.07 319.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 327.93 319.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 357.45 319.10 Td (and ) Tj ET Q q 0 0 0 rg BT 374.75 319.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 406.50 319.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.70 319.10 Td ($1.5 ) Tj ET Q q 0 0 0 rg BT 438.06 319.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.95 319.10 Td ( ) Tj ET Q q 0 0 0 rg BT 469.82 319.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.12 319.10 Td ($2.4 ) Tj ET Q q 0 0 0 rg BT 507.48 319.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.37 319.10 Td ( ) Tj ET Q q 0 0 0 rg BT 539.24 319.10 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.12 307.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 109.69 307.10 Td (of ) Tj ET Q q 0 0 0 rg BT 120.92 307.10 Td (the ) Tj ET Q q 0 0 0 rg BT 136.04 307.10 Td (Illinois ) Tj ET Q q 0 0 0 rg BT 167.27 307.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 209.04 307.10 Td (Code ) Tj ET Q q 0 0 0 rg BT 233.05 307.10 Td (and ) Tj ET Q q 0 0 0 rg BT 250.39 307.10 Td (the ) Tj ET Q q 0 0 0 rg BT 265.50 307.10 Td (Missouri ) Tj ET Q q 0 0 0 rg BT 303.96 307.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 345.73 307.10 Td (Code, ) Tj ET Q q 0 0 0 rg BT 372.24 307.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 419.90 307.10 Td (. ) Tj ET Q q 0 0 0 rg BT 425.30 307.10 Td (Dividends ) Tj ET Q q 0 0 0 rg BT 469.31 307.10 Td (may ) Tj ET Q q 0 0 0 rg BT 489.43 307.10 Td (only ) Tj ET Q q 0 0 0 rg BT 510.11 307.10 Td (be ) Tj ET Q q 0 0 0 rg BT 522.45 307.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 542.56 307.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 86.41 295.10 Td (unassigned ) Tj ET Q q 0 0 0 rg BT 132.27 295.10 Td (surplus, ) Tj ET Q q 0 0 0 rg BT 165.07 295.10 Td (and ) Tj ET Q q 0 0 0 rg BT 180.93 295.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 220.67 295.10 Td (may ) Tj ET Q q 0 0 0 rg BT 239.30 295.10 Td (not ) Tj ET Q q 0 0 0 rg BT 253.50 295.10 Td (be ) Tj ET Q q 0 0 0 rg BT 264.35 295.10 Td (made ) Tj ET Q q 0 0 0 rg BT 287.42 295.10 Td (if ) Tj ET Q q 0 0 0 rg BT 294.95 295.10 Td (such ) Tj ET Q q 0 0 0 rg BT 314.69 295.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 345.00 295.10 Td (is ) Tj ET Q q 0 0 0 rg BT 353.09 295.10 Td (less ) Tj ET Q q 0 0 0 rg BT 369.50 295.10 Td (than ) Tj ET Q q 0 0 0 rg BT 388.13 295.10 Td (a ) Tj ET Q q 0 0 0 rg BT 393.99 295.10 Td (stipulated ) Tj ET Q q 0 0 0 rg BT 434.29 295.10 Td (amount. ) Tj ET Q q 0 0 0 rg BT 468.10 295.10 Td (The ) Tj ET Q q 0 0 0 rg BT 485.06 295.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 521.47 295.10 Td (restriction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (is ) Tj ET Q q 0 0 0 rg BT 59.17 283.10 Td (the ) Tj ET Q q 0 0 0 rg BT 73.89 283.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 104.14 283.10 Td (of ) Tj ET Q q 0 0 0 rg BT 114.97 283.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 152.47 283.10 Td (net ) Tj ET Q q 0 0 0 rg BT 167.18 283.10 Td (income ) Tj ET Q q 0 0 0 rg BT 199.12 283.10 Td (or ) Tj ET Q q 0 0 0 rg BT 209.95 283.10 Td (10% ) Tj ET Q q 0 0 0 rg BT 230.78 283.10 Td (of ) Tj ET Q q 0 0 0 rg BT 241.61 283.10 Td (total ) Tj ET Q q 0 0 0 rg BT 261.88 283.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 299.38 283.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 328.53 283.10 Td (and ) Tj ET Q q 0 0 0 rg BT 345.46 283.10 Td (surplus. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 67.38 266.10 Td (income ) Tj ET Q q 0 0 0 rg BT 99.75 266.10 Td (computed ) Tj ET Q q 0 0 0 rg BT 142.12 266.10 Td (under ) Tj ET Q q 0 0 0 rg BT 167.83 266.10 Td (statutory-basis ) Tj ET Q q 0 0 0 rg BT 229.09 266.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 275.90 266.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.39 266.10 Td ($2.0 ) Tj ET Q q 0 0 0 rg BT 314.83 266.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.72 266.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.16 266.10 Td ($4.0 ) Tj ET Q q 0 0 0 rg BT 369.60 266.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.49 266.10 Td ( ) Tj ET Q q 0 0 0 rg BT 401.43 266.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.81 266.10 Td ($1.7 ) Tj ET Q q 0 0 0 rg BT 439.25 266.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.14 266.10 Td ( ) Tj ET Q q 0 0 0 rg BT 471.08 266.10 Td (for ) Tj ET Q q 0 0 0 rg BT 485.02 266.10 Td (American ) Tj ET Q q 0 0 0 rg BT 527.39 266.10 Td (Country) Tj ET Q q 0 0 0 rg BT 559.52 266.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.10 Td (American ) Tj ET Q q 0 0 0 rg BT 92.18 254.10 Td (Service ) Tj ET Q q 0 0 0 rg BT 124.92 254.10 Td (and ) Tj ET Q q 0 0 0 rg BT 142.12 254.10 Td (Gateway) Tj ET Q q 0 0 0 rg BT 177.01 254.10 Td (, ) Tj ET Q q 0 0 0 rg BT 182.27 254.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 229.93 254.10 Td (, ) Tj ET Q q 0 0 0 rg BT 235.19 254.10 Td (for ) Tj ET Q q 0 0 0 rg BT 249.60 254.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.58 254.10 Td (year ) Tj ET Q q 0 0 0 rg BT 284.54 254.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 311.18 254.10 Td (December ) Tj ET Q q 0 0 0 rg BT 355.02 254.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 370.28 254.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.28 254.10 Td (. ) Tj ET Q q 0 0 0 rg BT 395.54 254.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 412.73 254.10 Td (income ) Tj ET Q q 0 0 0 rg BT 444.92 254.10 Td (for ) Tj ET Q q 0 0 0 rg BT 459.34 254.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.32 254.10 Td (year ) Tj ET Q q 0 0 0 rg BT 494.28 254.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 520.92 254.10 Td (December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 242.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 65.56 242.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.56 242.10 Td ( ) Tj ET Q q 0 0 0 rg BT 88.63 242.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.24 242.10 Td ($1.6 ) Tj ET Q q 0 0 0 rg BT 127.81 242.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.70 242.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.26 242.10 Td ($3.6 ) Tj ET Q q 0 0 0 rg BT 182.83 242.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.72 242.10 Td ( ) Tj ET Q q 0 0 0 rg BT 214.78 242.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.29 242.10 Td ($2.1 ) Tj ET Q q 0 0 0 rg BT 252.85 242.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.74 242.10 Td ( ) Tj ET Q q 0 0 0 rg BT 284.80 242.10 Td (for ) Tj ET Q q 0 0 0 rg BT 298.85 242.10 Td (American ) Tj ET Q q 0 0 0 rg BT 341.34 242.10 Td (Country) Tj ET Q q 0 0 0 rg BT 373.47 242.10 Td (, ) Tj ET Q q 0 0 0 rg BT 378.36 242.10 Td (American ) Tj ET Q q 0 0 0 rg BT 420.84 242.10 Td (Service ) Tj ET Q q 0 0 0 rg BT 453.89 242.10 Td (and ) Tj ET Q q 0 0 0 rg BT 471.40 242.10 Td (Gateway) Tj ET Q q 0 0 0 rg BT 506.28 242.10 Td (, ) Tj ET Q q 0 0 0 rg BT 511.85 242.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 559.51 242.10 Td (. ) Tj ET Q q 0 0 0 rg BT 564.51 242.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 230.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.79 230.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 109.48 230.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 146.72 230.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 175.62 230.10 Td (and ) Tj ET Q q 0 0 0 rg BT 192.30 230.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 223.44 230.10 Td (of ) Tj ET Q q 0 0 0 rg BT 234.02 230.10 Td (the ) Tj ET Q q 0 0 0 rg BT 248.48 230.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 289.05 230.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 338.51 230.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.31 230.10 Td ($63.0 ) Tj ET Q q 0 0 0 rg BT 381.06 230.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.95 230.10 Td ( ) Tj ET Q q 0 0 0 rg BT 412.20 230.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.88 230.10 Td ($53.1 ) Tj ET Q q 0 0 0 rg BT 453.63 230.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.52 230.10 Td ( ) Tj ET Q q 0 0 0 rg BT 484.77 230.10 Td (as ) Tj ET Q q 0 0 0 rg BT 495.35 230.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 230.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 218.10 Td ( ) Tj ET Q q 0 0 0 rg BT 72.50 218.10 Td (and ) Tj ET Q BT 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 165.30 Td (7. 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641.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 639.5 m 514.5 639.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 641.5 m 558.5 641.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 639.5 m 558.5 639.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.00 739.23 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.00 739.23 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.45 727.23 Td (Amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.00 727.23 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.45 727.23 Td (Amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.00 727.23 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 715.07 Td (Expected income tax expense at statutory rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.00 715.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 715.07 Td (4,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.80 715.07 Td (34.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 715.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 715.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 715.07 Td (2,126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.80 715.07 Td (34.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.65 715.07 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 702.12 Td (Change in valuation allowance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.80 702.12 Td (\(9,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 702.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.45 702.12 Td (\(79.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.30 702.12 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.80 702.12 Td (\(2,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 702.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.45 702.12 Td (\(44.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.30 702.12 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 690.12 Td (Nondeductible expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.65 690.12 Td (136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.80 690.12 Td (1.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 690.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 690.12 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.80 690.12 Td (1.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.65 690.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 678.12 Td (State tax \(net of federal benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 678.12 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.80 678.12 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 678.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 678.12 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.80 678.12 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.65 678.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 666.12 Td (Tax net operating loss limitation write-down \(excluding valuation allowance\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.30 666.12 Td (\(519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 666.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.45 666.12 Td (\(4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.30 666.12 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 666.12 Td (626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.80 666.12 Td (10.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.65 666.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 655.12 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.30 655.12 Td (\(7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 655.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.45 655.12 Td (\(0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.30 655.12 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.30 655.12 Td (\(25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 655.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.45 655.12 Td (\(0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.30 655.12 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 643.12 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.00 643.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.80 643.12 Td (\(5,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 643.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.45 643.12 Td (\(48.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.30 643.12 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 643.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 643.12 Td (72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.80 643.12 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.65 643.12 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.20 Td (Income tax expense consists of the following for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.89 622.20 Td (years ended December 31, 2014 and 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.89 622.20 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 611.70 420.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 611.70 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 611.70 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 587.70 420.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 587.70 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 587.70 45.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 611.7 m 515.5 611.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 599.7 m 515.5 599.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 611.7 m 560.5 611.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 599.7 m 560.5 599.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 599.7 m 515.5 599.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 599.7 m 560.5 599.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 575.7 m 515.5 575.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 575.7 m 560.5 575.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 575.7 m 515.5 575.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 564.7 m 515.5 564.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 562.7 m 515.5 562.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 575.7 m 560.5 575.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 564.7 m 560.5 564.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 562.7 m 560.5 562.7 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.50 602.43 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 602.43 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 590.32 Td (Current tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.00 590.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 590.32 Td (3,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.00 590.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 590.32 Td (1,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 578.32 Td (Deferred tax benefit, net of change in valuation allowance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.80 578.32 Td (\(8,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 578.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.80 578.32 Td (\(1,072) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 578.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 566.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.00 566.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.80 566.32 Td (\(5,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.65 566.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.00 566.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 566.32 Td (72) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.20 Td (Upon ) Tj ET Q q 0 0 0 rg BT 74.22 547.20 Td (the ) Tj ET Q q 0 0 0 rg BT 88.44 547.20 Td (transaction ) Tj ET Q q 0 0 0 rg BT 134.31 547.20 Td (forming ) Tj ET Q q 0 0 0 rg BT 168.09 547.20 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 191.20 547.20 Td (on ) Tj ET Q q 0 0 0 rg BT 203.20 547.20 Td (December ) Tj ET Q q 0 0 0 rg BT 246.28 547.20 Td (31, ) Tj ET Q q 0 0 0 rg BT 260.79 547.20 Td (2010, ) Tj ET Q q 0 0 0 rg BT 285.29 547.20 Td (a ) Tj ET Q q 0 0 0 rg BT 291.73 547.20 Td (yearly ) Tj ET Q q 0 0 0 rg BT 318.71 547.20 Td (limitation ) Tj ET Q q 0 0 0 rg BT 359.60 547.20 Td (as ) Tj ET Q q 0 0 0 rg BT 369.93 547.20 Td (required ) Tj ET Q q 0 0 0 rg BT 405.25 547.20 Td (by ) Tj ET Q q 0 0 0 rg BT 417.25 547.20 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 437.03 547.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 451.25 547.20 Td (law ) Tj ET Q q 0 0 0 rg BT 467.69 547.20 Td (Section ) Tj ET Q q 0 0 0 rg BT 499.69 547.20 Td (382 ) Tj ET Q q 0 0 0 rg BT 516.69 547.20 Td (that ) Tj ET Q q 0 0 0 rg BT 533.68 547.20 Td (applies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.20 Td (to ) Tj ET Q q 0 0 0 rg BT 61.96 535.20 Td (changes ) Tj ET Q q 0 0 0 rg BT 98.35 535.20 Td (in ) Tj ET Q q 0 0 0 rg BT 110.31 535.20 Td (ownership ) Tj ET Q q 0 0 0 rg BT 156.15 535.20 Td (on ) Tj ET Q q 0 0 0 rg BT 170.33 535.20 Td (the ) Tj ET Q q 0 0 0 rg BT 186.72 535.20 Td (future ) Tj ET Q q 0 0 0 rg BT 214.78 535.20 Td (utilization ) Tj ET Q q 0 0 0 rg BT 259.51 535.20 Td (of ) Tj ET Q q 0 0 0 rg BT 271.10 535.20 Td (Atlas) Tj ET Q q 0 0 0 rg BT 294.79 535.20 Td ( ) Tj ET Q q 0 0 0 rg BT 298.97 535.20 Td (net ) Tj ET Q q 0 0 0 rg BT 315.37 535.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 357.32 535.20 Td (loss ) Tj ET Q q 0 0 0 rg BT 377.06 535.20 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 437.32 535.20 Td (was ) Tj ET Q q 0 0 0 rg BT 457.05 535.20 Td (calculated. ) Tj ET Q q 0 0 0 rg BT 503.96 535.20 Td (The ) Tj ET Q q 0 0 0 rg BT 523.68 535.20 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.20 Td (subsidiaries) Tj ET Q q 0 0 0 rg BT 99.80 523.20 Td ( ) Tj ET Q q 0 0 0 rg BT 102.39 523.20 Td (prior ) Tj ET Q q 0 0 0 rg BT 124.42 523.20 Td (parent ) Tj ET Q q 0 0 0 rg BT 151.99 523.20 Td (retained ) Tj ET Q q 0 0 0 rg BT 186.78 523.20 Td (those ) Tj ET Q q 0 0 0 rg BT 210.48 523.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 225.28 523.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 251.20 523.20 Td (previously ) Tj ET Q q 0 0 0 rg BT 296.01 523.20 Td (attributed ) Tj ET Q q 0 0 0 rg BT 336.91 523.20 Td (to ) Tj ET Q q 0 0 0 rg BT 347.28 523.20 Td (the ) Tj ET Q q 0 0 0 rg BT 362.08 523.20 Td (insurance ) Tj ET Q q 0 0 0 rg BT 402.99 523.20 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 452.79 523.20 Td (which ) Tj ET Q q 0 0 0 rg BT 479.82 523.20 Td (could ) Tj ET Q q 0 0 0 rg BT 504.62 523.20 Td (not ) Tj ET Q q 0 0 0 rg BT 519.99 523.20 Td (be ) Tj ET Q q 0 0 0 rg BT 532.02 523.20 Td (utilized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.20 Td (by ) Tj ET Q q 0 0 0 rg BT 62.27 511.20 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 86.28 511.20 Td (as ) Tj ET Q q 0 0 0 rg BT 97.52 511.20 Td (a ) Tj ET Q q 0 0 0 rg BT 104.87 511.20 Td (result ) Tj ET Q q 0 0 0 rg BT 129.99 511.20 Td (of ) Tj ET Q q 0 0 0 rg BT 141.23 511.20 Td (this ) Tj ET Q q 0 0 0 rg BT 158.58 511.20 Td (limitation. ) Tj ET Q q 0 0 0 rg BT 202.88 511.20 Td ( ) Tj ET Q q 0 0 0 rg BT 205.15 511.20 Td (As ) Tj ET Q q 0 0 0 rg BT 219.17 511.20 Td (a ) Tj ET Q q 0 0 0 rg BT 226.51 511.20 Td (result, ) Tj ET Q q 0 0 0 rg BT 253.50 511.20 Td (Atlas) Tj ET Q q 0 0 0 rg BT 277.19 511.20 Td ( ) Tj ET Q q 0 0 0 rg BT 280.10 511.20 Td (ability ) Tj ET Q q 0 0 0 rg BT 308.56 511.20 Td (to ) Tj ET Q q 0 0 0 rg BT 319.24 511.20 Td (recognize ) Tj ET Q q 0 0 0 rg BT 361.01 511.20 Td (future ) Tj ET Q q 0 0 0 rg BT 387.80 511.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 402.92 511.20 Td (benefits ) Tj ET Q q 0 0 0 rg BT 437.49 511.20 Td (associated ) Tj ET Q q 0 0 0 rg BT 481.49 511.20 Td (with ) Tj ET Q q 0 0 0 rg BT 502.17 511.20 Td (a ) Tj ET Q q 0 0 0 rg BT 509.52 511.20 Td (portion ) Tj ET Q q 0 0 0 rg BT 541.31 511.20 Td (of ) Tj ET Q q 0 0 0 rg BT 552.55 511.20 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.20 Td (deferred ) Tj ET Q q 0 0 0 rg BT 86.61 499.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 102.12 499.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 128.75 499.20 Td (generated ) Tj ET Q q 0 0 0 rg BT 170.91 499.20 Td (during ) Tj ET Q q 0 0 0 rg BT 200.32 499.20 Td (prior ) Tj ET Q q 0 0 0 rg BT 223.06 499.20 Td (years ) Tj ET Q q 0 0 0 rg BT 247.46 499.20 Td (have ) Tj ET Q q 0 0 0 rg BT 269.64 499.20 Td (been ) Tj ET Q q 0 0 0 rg BT 291.81 499.20 Td (permanently ) Tj ET Q q 0 0 0 rg BT 345.09 499.20 Td (limited ) Tj ET Q q 0 0 0 rg BT 376.72 499.20 Td (to ) Tj ET Q q 0 0 0 rg BT 387.80 499.20 Td (the ) Tj ET Q q 0 0 0 rg BT 403.32 499.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 436.61 499.20 Td (determined ) Tj ET Q q 0 0 0 rg BT 484.89 499.20 Td (under ) Tj ET Q q 0 0 0 rg BT 510.96 499.20 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 532.04 499.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 547.56 499.20 Td (law ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.20 Td (Section ) Tj ET Q q 0 0 0 rg BT 82.11 487.20 Td (382. ) Tj ET Q q 0 0 0 rg BT 101.57 487.20 Td (The ) Tj ET Q q 0 0 0 rg BT 119.23 487.20 Td (result ) Tj ET Q q 0 0 0 rg BT 143.56 487.20 Td (is ) Tj ET Q q 0 0 0 rg BT 152.34 487.20 Td (a ) Tj ET Q q 0 0 0 rg BT 158.89 487.20 Td (maximum ) Tj ET Q q 0 0 0 rg BT 201.56 487.20 Td (expected ) Tj ET Q q 0 0 0 rg BT 239.20 487.20 Td (net ) Tj ET Q q 0 0 0 rg BT 253.53 487.20 Td (deferred ) Tj ET Q q 0 0 0 rg BT 288.95 487.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 303.28 487.20 Td (asset ) Tj ET Q q 0 0 0 rg BT 324.84 487.20 Td (which ) Tj ET Q q 0 0 0 rg BT 350.92 487.20 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 374.14 487.20 Td (has ) Tj ET Q q 0 0 0 rg BT 389.59 487.20 Td (available ) Tj ET Q q 0 0 0 rg BT 427.79 487.20 Td (after ) Tj ET Q q 0 0 0 rg BT 448.22 487.20 Td (the ) Tj ET Q q 0 0 0 rg BT 462.55 487.20 Td (mer) Tj ET Q q 0 0 0 rg BT 477.91 487.20 Td (ger ) Tj ET Q q 0 0 0 rg BT 492.79 487.20 Td (which ) Tj ET Q q 0 0 0 rg BT 519.35 487.20 Td (is ) Tj ET Q q 0 0 0 rg BT 528.13 487.20 Td (believed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.20 Td (more-likely-than-not ) Tj ET Q q 0 0 0 rg BT 135.81 475.20 Td (to ) Tj ET Q q 0 0 0 rg BT 146.08 475.20 Td (be ) Tj ET Q q 0 0 0 rg BT 158.02 475.20 Td (utilized ) Tj ET Q q 0 0 0 rg BT 190.51 475.20 Td (in ) Tj ET Q q 0 0 0 rg BT 200.79 475.20 Td (the ) Tj ET Q q 0 0 0 rg BT 215.51 475.20 Td (future, ) Tj ET Q q 0 0 0 rg BT 244.38 475.20 Td (after ) Tj ET Q q 0 0 0 rg BT 265.20 475.20 Td (consideration ) Tj ET Q q 0 0 0 rg BT 321.57 475.20 Td (of ) Tj ET Q q 0 0 0 rg BT 332.40 475.20 Td (valuation ) Tj ET Q q 0 0 0 rg BT 372.11 475.20 Td (allowance. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 458.20 Td (On ) Tj ET Q q 0 0 0 rg BT 64.85 458.20 Td (July ) Tj ET Q q 0 0 0 rg BT 84.15 458.20 Td (22, ) Tj ET Q q 0 0 0 rg BT 99.28 458.20 Td (2013, ) Tj ET Q q 0 0 0 rg BT 124.41 458.20 Td (as ) Tj ET Q q 0 0 0 rg BT 135.37 458.20 Td (a ) Tj ET Q q 0 0 0 rg BT 142.44 458.20 Td (result ) Tj ET Q q 0 0 0 rg BT 167.28 458.20 Td (of ) Tj ET Q q 0 0 0 rg BT 178.24 458.20 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 227.52 458.20 Td (activity) Tj ET Q q 0 0 0 rg BT 256.86 458.20 Td (, ) Tj ET Q q 0 0 0 rg BT 261.99 458.20 Td (a ) Tj ET Q q 0 0 0 rg BT 269.06 458.20 Td ("triggering ) Tj ET Q q 0 0 0 rg BT 315.20 458.20 Td (event" ) Tj ET Q q 0 0 0 rg BT 343.57 458.20 Td (as ) Tj ET Q q 0 0 0 rg BT 354.53 458.20 Td (determined ) Tj ET Q q 0 0 0 rg BT 402.14 458.20 Td (under ) Tj ET Q q 0 0 0 rg BT 427.53 458.20 Td (IRC ) Tj ET Q q 0 0 0 rg BT 446.83 458.20 Td (Section ) Tj ET Q q 0 0 0 rg BT 479.46 458.20 Td (382 ) Tj ET Q q 0 0 0 rg BT 497.09 458.20 Td (was ) Tj ET Q q 0 0 0 rg BT 515.27 458.20 Td (reached. ) Tj ET Q q 0 0 0 rg BT 550.90 458.20 Td (As ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 446.20 Td (a ) Tj ET Q q 0 0 0 rg BT 56.70 446.20 Td (result, ) Tj ET Q q 0 0 0 rg BT 83.68 446.20 Td (under ) Tj ET Q q 0 0 0 rg BT 108.71 446.20 Td (IRC ) Tj ET Q q 0 0 0 rg BT 127.64 446.20 Td (Section ) Tj ET Q q 0 0 0 rg BT 159.89 446.20 Td (382, ) Tj ET Q q 0 0 0 rg BT 179.65 446.20 Td (the ) Tj ET Q q 0 0 0 rg BT 194.13 446.20 Td (use ) Tj ET Q q 0 0 0 rg BT 209.72 446.20 Td (of ) Tj ET Q q 0 0 0 rg BT 220.31 446.20 Td (the ) Tj ET Q q 0 0 0 rg BT 234.79 446.20 Td (Company's ) Tj ET Q q 0 0 0 rg BT 281.63 446.20 Td (net ) Tj ET Q q 0 0 0 rg BT 296.11 446.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 336.13 446.20 Td (loss ) Tj ET Q q 0 0 0 rg BT 353.96 446.20 Td (and ) Tj ET Q q 0 0 0 rg BT 370.65 446.20 Td (other ) Tj ET Q q 0 0 0 rg BT 393.46 446.20 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 451.80 446.20 Td (will ) Tj ET Q q 0 0 0 rg BT 469.62 446.20 Td (be ) Tj ET Q q 0 0 0 rg BT 481.32 446.20 Td (limited ) Tj ET Q q 0 0 0 rg BT 511.91 446.20 Td (as ) Tj ET Q q 0 0 0 rg BT 522.50 446.20 Td (a ) Tj ET Q q 0 0 0 rg BT 529.20 446.20 Td (result ) Tj ET Q q 0 0 0 rg BT 553.68 446.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 434.20 Td (this ) Tj ET Q q 0 0 0 rg BT 66.42 434.20 Td ("ownership ) Tj ET Q q 0 0 0 rg BT 114.14 434.20 Td (change ) Tj ET Q q 0 0 0 rg BT 148.87 434.20 Td (for ) Tj ET Q q 0 0 0 rg BT 162.50 434.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 176.69 434.20 Td (purposes, ) Tj ET Q q 0 0 0 rg BT 216.72 434.20 Td (which ) Tj ET Q q 0 0 0 rg BT 243.13 434.20 Td (is ) Tj ET Q q 0 0 0 rg BT 251.77 434.20 Td (defined ) Tj ET Q q 0 0 0 rg BT 283.73 434.20 Td (as ) Tj ET Q q 0 0 0 rg BT 294.04 434.20 Td (a ) Tj ET Q q 0 0 0 rg BT 300.45 434.20 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 346.85 434.20 Td (change ) Tj ET Q q 0 0 0 rg BT 377.14 434.20 Td (of ) Tj ET Q q 0 0 0 rg BT 387.45 434.20 Td (more ) Tj ET Q q 0 0 0 rg BT 409.97 434.20 Td (than ) Tj ET Q q 0 0 0 rg BT 429.16 434.20 Td (50% ) Tj ET Q q 0 0 0 rg BT 449.46 434.20 Td (during ) Tj ET Q q 0 0 0 rg BT 477.55 434.20 Td (any ) Tj ET Q q 0 0 0 rg BT 493.96 434.20 Td (three-year ) Tj ET Q q 0 0 0 rg BT 536.46 434.20 Td (period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 422.20 Td (by ) Tj ET Q q 0 0 0 rg BT 61.61 422.20 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 113.75 422.20 Td (of ) Tj ET Q q 0 0 0 rg BT 123.68 422.20 Td (the ) Tj ET Q q 0 0 0 rg BT 137.51 422.20 Td (Company's ) Tj ET Q q 0 0 0 rg BT 183.69 422.20 Td (shares. ) Tj ET Q q 0 0 0 rg BT 212.79 422.20 Td (Following ) Tj ET Q q 0 0 0 rg BT 255.51 422.20 Td (this ) Tj ET Q q 0 0 0 rg BT 271.56 422.20 Td (triggering ) Tj ET Q q 0 0 0 rg BT 312.60 422.20 Td (event, ) Tj ET Q q 0 0 0 rg BT 338.36 422.20 Td (the ) Tj ET Q q 0 0 0 rg BT 352.19 422.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 392.68 422.20 Td (estimates ) Tj ET Q q 0 0 0 rg BT 431.50 422.20 Td (that ) Tj ET Q q 0 0 0 rg BT 448.10 422.20 Td (it ) Tj ET Q q 0 0 0 rg BT 455.26 422.20 Td (will ) Tj ET Q q 0 0 0 rg BT 472.42 422.20 Td (retain ) Tj ET Q q 0 0 0 rg BT 496.79 422.20 Td (total ) Tj ET Q q 0 0 0 rg BT 516.17 422.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 529.99 422.20 Td (ef) Tj ET Q q 0 0 0 rg BT 537.58 422.20 Td (fected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.20 Td (federal ) Tj ET Q q 0 0 0 rg BT 80.25 410.20 Td (net ) Tj ET Q q 0 0 0 rg BT 94.97 410.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 135.23 410.20 Td (loss ) Tj ET Q q 0 0 0 rg BT 153.30 410.20 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 211.88 410.20 Td (of ) Tj ET Q q 0 0 0 rg BT 222.71 410.20 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.96 410.20 Td ($14.2 ) Tj ET Q q 0 0 0 rg BT 307.96 410.20 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.86 410.20 Td ( ) Tj ET Q q 0 0 0 rg BT 339.36 410.20 Td (as ) Tj ET Q q 0 0 0 rg BT 350.19 410.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.02 410.20 Td (December31, ) Tj ET Q q 0 0 0 rg BT 419.60 410.20 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.60 410.20 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 393.20 Td (The ) Tj ET Q q 0 0 0 rg BT 67.80 393.20 Td (components ) Tj ET Q q 0 0 0 rg BT 118.37 393.20 Td (of ) Tj ET Q q 0 0 0 rg BT 128.95 393.20 Td (deferred ) Tj ET Q q 0 0 0 rg BT 164.50 393.20 Td (income ) Tj ET Q q 0 0 0 rg BT 196.18 393.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 210.65 393.20 Td (assets ) Tj ET Q q 0 0 0 rg BT 236.23 393.20 Td (and ) Tj ET Q q 0 0 0 rg BT 252.92 393.20 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 292.38 393.20 Td (as ) Tj ET Q q 0 0 0 rg BT 302.96 393.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.54 393.20 Td (December31, ) Tj ET Q q 0 0 0 rg BT 371.87 393.20 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.87 393.20 Td ( ) Tj ET Q q 0 0 0 rg BT 394.12 393.20 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.81 393.20 Td (December31, ) Tj ET Q q 0 0 0 rg BT 469.14 393.20 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.14 393.20 Td ( ) Tj ET Q q 0 0 0 rg BT 491.39 393.20 Td (are ) Tj ET Q q 0 0 0 rg BT 505.84 393.20 Td (as ) Tj ET Q q 0 0 0 rg BT 516.42 393.20 Td (follows ) Tj ET Q q 0 0 0 rg BT 548.67 393.20 Td (\(all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 381.20 Td (amounts ) Tj ET Q q 0 0 0 rg BT 86.39 381.20 Td (in ) Tj ET Q q 0 0 0 rg BT 96.67 381.20 Td ('000s\):) Tj ET Q 0.8 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0 i [] 0 d 0 J 0 j 3 M 490.5 255.70000000000005 m 562.5 255.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 195.70000000000005 m 490.5 195.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 195.70000000000005 m 562.5 195.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 195.70000000000005 m 490.5 195.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 183.70000000000005 m 490.5 183.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 195.70000000000005 m 562.5 195.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 183.70000000000005 m 562.5 183.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 183.70000000000005 m 490.5 183.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 172.70000000000005 m 490.5 172.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 170.70000000000005 m 490.5 170.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 183.70000000000005 m 562.5 183.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 172.70000000000005 m 562.5 172.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 170.70000000000005 m 562.5 170.70000000000005 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.90 354.38 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.00 344.38 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.90 354.38 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.00 344.38 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 330.43 Td (Deferred tax assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 318.32 Td (Unpaid claims and unearned premiums) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 318.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 318.32 Td (5,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 318.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 318.32 Td (4,783) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 306.32 Td (Loss carryforwards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 306.32 Td (14,212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 306.32 Td (15,265) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 294.32 Td (Bad debts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 294.32 Td (191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 294.32 Td (264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 282.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 282.32 Td (1,266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 282.32 Td (1,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 270.32 Td (Valuation allowance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 270.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 270.32 Td (\(9,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 270.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 258.32 Td (Total deferred tax assets, net of 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(3,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 186.32 Td (2,993) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 174.43 Td (Net deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 174.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 174.32 Td (17,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 174.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 174.32 Td (9,319) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 153.45 Td (Amounts ) Tj ET Q q 0 0 0 rg BT 89.03 153.45 Td (and ) Tj ET Q q 0 0 0 rg BT 105.82 153.45 Td (expiration ) Tj ET Q q 0 0 0 rg BT 148.72 153.45 Td (dates ) Tj ET Q q 0 0 0 rg BT 171.63 153.45 Td (of ) Tj ET Q q 0 0 0 rg BT 182.31 153.45 Td (the ) Tj ET Q q 0 0 0 rg BT 196.89 153.45 Td (operating ) Tj ET Q q 0 0 0 rg BT 237.01 153.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 254.93 153.45 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 313.37 153.45 Td (as ) Tj ET Q q 0 0 0 rg BT 324.05 153.45 Td (of ) Tj ET Q BT /F1 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0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 51.5 748.5 m 253.5 748.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 51.5 736.5 m 253.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 748.5 m 503.5 748.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 736.5 m 503.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 748.5 m 558.5 748.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 736.5 m 558.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 51.5 736.5 m 253.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 736.5 m 503.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 736.5 m 558.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 628.5 m 558.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 628.5 m 558.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 617.5 m 558.5 617.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 615.5 m 558.5 615.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.50 739.23 Td (Year of Occurrence) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.35 739.23 Td (Year of Expiration) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.95 739.23 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 727.12 Td (2001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 727.12 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 727.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 727.12 Td (7,734) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 715.12 Td (2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 715.12 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 715.12 Td (4,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 703.12 Td (2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 703.12 Td (2026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 703.12 Td (7,825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 691.12 Td (2007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 691.12 Td (2027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 691.12 Td (5,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 679.12 Td (2008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 679.12 Td (2028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 679.12 Td (1,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 667.12 Td (2009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 667.12 Td (2029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 667.12 Td (1,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 655.12 Td (2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 655.12 Td (2030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 655.12 Td (1,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 643.12 Td (2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 643.12 Td (2031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 643.12 Td (8,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 631.12 Td (2012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 631.12 Td (2032) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 631.12 Td (2,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 619.12 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 619.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 619.12 Td (41,801) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 600.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.39 600.00 Td (established ) Tj ET Q q 0 0 0 rg BT 120.11 600.00 Td (a ) Tj ET Q q 0 0 0 rg BT 126.83 600.00 Td (valuation ) Tj ET Q q 0 0 0 rg BT 166.32 600.00 Td (allowance ) Tj ET Q q 0 0 0 rg BT 209.13 600.00 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.75 600.00 Td ($0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.75 600.00 Td ( ) Tj ET Q q 0 0 0 rg BT 232.03 600.00 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.75 600.00 Td ($9.4 ) Tj ET Q q 0 0 0 rg BT 268.53 600.00 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.42 600.00 Td ( ) Tj ET Q q 0 0 0 rg BT 299.70 600.00 Td (for ) Tj ET Q q 0 0 0 rg BT 313.64 600.00 Td (its ) Tj ET Q q 0 0 0 rg BT 325.37 600.00 Td (gross ) Tj ET Q q 0 0 0 rg BT 348.77 600.00 Td (deferred ) Tj ET Q q 0 0 0 rg BT 384.36 600.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 398.85 600.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 424.47 600.00 Td (as ) Tj ET Q q 0 0 0 rg BT 435.08 600.00 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.69 600.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 504.06 600.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.06 600.00 Td ( ) Tj ET Q q 0 0 0 rg BT 526.34 600.00 Td (and ) Tj ET Q q 0 0 0 rg BT 543.06 600.00 Td (as ) Tj ET Q q 0 0 0 rg BT 553.67 600.00 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 588.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 109.52 588.00 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.52 588.00 Td (, ) Tj ET Q q 0 0 0 rg BT 135.46 588.00 Td (respectively) Tj ET Q q 0 0 0 rg BT 183.12 588.00 Td (. ) Tj ET Q q 0 0 0 rg BT 189.06 588.00 Td ( ) Tj ET Q q 0 0 0 rg BT 192.50 588.00 Td (Based ) Tj ET Q q 0 0 0 rg BT 220.38 588.00 Td (on ) Tj ET Q q 0 0 0 rg BT 233.06 588.00 Td (Atlas) Tj ET Q q 0 0 0 rg BT 256.75 588.00 Td ( ) Tj ET Q q 0 0 0 rg BT 260.19 588.00 Td (expectations ) Tj ET Q q 0 0 0 rg BT 313.61 588.00 Td (of ) Tj ET Q q 0 0 0 rg BT 325.38 588.00 Td (future ) Tj ET Q q 0 0 0 rg BT 352.70 588.00 Td (taxable ) Tj ET Q q 0 0 0 rg BT 385.01 588.00 Td (income, ) Tj ET Q q 0 0 0 rg BT 420.38 588.00 Td (its ) Tj ET Q q 0 0 0 rg BT 433.27 588.00 Td (ability ) Tj ET Q q 0 0 0 rg BT 462.26 588.00 Td (to ) Tj ET Q q 0 0 0 rg BT 473.48 588.00 Td (change ) Tj ET Q q 0 0 0 rg BT 505.23 588.00 Td (its ) Tj ET Q q 0 0 0 rg BT 518.12 588.00 Td (investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 576.00 Td (strategy) Tj ET Q q 0 0 0 rg BT 81.01 576.00 Td (, ) Tj ET Q q 0 0 0 rg BT 85.62 576.00 Td (as ) Tj ET Q q 0 0 0 rg BT 96.06 576.00 Td (well ) Tj ET Q q 0 0 0 rg BT 115.39 576.00 Td (as ) Tj ET Q q 0 0 0 rg BT 125.84 576.00 Td (reversing ) Tj ET Q q 0 0 0 rg BT 165.16 576.00 Td (gross ) Tj ET Q q 0 0 0 rg BT 188.38 576.00 Td (future ) Tj ET Q q 0 0 0 rg BT 214.37 576.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 228.70 576.00 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 270.53 576.00 Td (management ) Tj ET Q q 0 0 0 rg BT 323.74 576.00 Td (believes ) Tj ET Q q 0 0 0 rg BT 358.61 576.00 Td (it ) Tj ET Q q 0 0 0 rg BT 366.28 576.00 Td (is ) Tj ET Q q 0 0 0 rg BT 375.07 576.00 Td (more ) Tj ET Q q 0 0 0 rg BT 397.73 576.00 Td (likely ) Tj ET Q q 0 0 0 rg BT 422.61 576.00 Td (than ) Tj ET Q q 0 0 0 rg BT 441.94 576.00 Td (not ) Tj ET Q q 0 0 0 rg BT 456.83 576.00 Td (that ) Tj ET Q q 0 0 0 rg BT 473.48 576.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 496.70 576.00 Td (will ) Tj ET Q q 0 0 0 rg BT 514.37 576.00 Td (fully ) Tj ET Q q 0 0 0 rg BT 535.37 576.00 Td (realize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.00 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 564.00 Td (net ) Tj ET Q q 0 0 0 rg BT 79.43 564.00 Td (future ) Tj ET Q q 0 0 0 rg BT 105.81 564.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 120.53 564.00 Td (assets. ) Tj ET Q q 0 0 0 rg BT 148.68 564.00 Td (The ) Tj ET Q q 0 0 0 rg BT 166.72 564.00 Td (Company) Tj ET Q q 0 0 0 rg BT 204.96 564.00 Td (, ) Tj ET Q q 0 0 0 rg BT 209.96 564.00 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 251.04 564.00 Td (has ) Tj ET Q q 0 0 0 rg BT 266.88 564.00 Td (released ) Tj ET Q q 0 0 0 rg BT 302.13 564.00 Td (its ) Tj ET Q q 0 0 0 rg BT 314.08 564.00 Td (remaining ) Tj ET Q q 0 0 0 rg BT 357.12 564.00 Td (valuation ) Tj ET Q q 0 0 0 rg BT 396.83 564.00 Td (allowance ) Tj ET Q q 0 0 0 rg BT 439.86 564.00 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.58 564.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 508.16 564.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.16 564.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 74.20 547.00 Td (accounts ) Tj ET Q q 0 0 0 rg BT 112.28 547.00 Td (for ) Tj ET Q q 0 0 0 rg BT 127.03 547.00 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 167.33 547.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 182.64 547.00 Td (positions ) Tj ET Q q 0 0 0 rg BT 221.85 547.00 Td (in ) Tj ET Q q 0 0 0 rg BT 232.72 547.00 Td (accordance ) Tj ET Q q 0 0 0 rg BT 280.78 547.00 Td (with ) Tj ET Q q 0 0 0 rg BT 301.65 547.00 Td (the ) Tj ET Q q 0 0 0 rg BT 316.96 547.00 Td (income ) Tj ET Q q 0 0 0 rg BT 349.48 547.00 Td (taxes ) Tj ET Q q 0 0 0 rg BT 373.13 547.00 Td (accounting ) Tj ET Q q 0 0 0 rg BT 420.09 547.00 Td (guidance. ) Tj ET Q q 0 0 0 rg BT 461.09 547.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 485.30 547.00 Td (has ) Tj ET Q q 0 0 0 rg BT 501.72 547.00 Td (analyzed ) Tj ET Q q 0 0 0 rg BT 540.35 547.00 Td (filing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.00 Td (positions ) Tj ET Q q 0 0 0 rg BT 87.67 535.00 Td (in ) Tj ET Q q 0 0 0 rg BT 96.99 535.00 Td (the ) Tj ET Q q 0 0 0 rg BT 110.76 535.00 Td (federal ) Tj ET Q q 0 0 0 rg BT 140.06 535.00 Td (and ) Tj ET Q q 0 0 0 rg BT 156.04 535.00 Td (state ) Tj ET Q q 0 0 0 rg BT 175.92 535.00 Td (jurisdiction ) Tj ET Q q 0 0 0 rg BT 223.02 535.00 Td (where ) Tj ET Q q 0 0 0 rg BT 248.99 535.00 Td (it ) Tj ET Q q 0 0 0 rg BT 256.10 535.00 Td (is ) Tj ET Q q 0 0 0 rg BT 264.32 535.00 Td (required ) Tj ET Q q 0 0 0 rg BT 299.18 535.00 Td (to ) Tj ET Q q 0 0 0 rg BT 308.51 535.00 Td (file ) Tj ET Q q 0 0 0 rg BT 323.38 535.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 337.14 535.00 Td (returns, ) Tj ET Q q 0 0 0 rg BT 368.96 535.00 Td (as ) Tj ET Q q 0 0 0 rg BT 378.84 535.00 Td (well ) Tj ET Q q 0 0 0 rg BT 397.60 535.00 Td (as ) Tj ET Q q 0 0 0 rg BT 407.48 535.00 Td (the ) Tj ET Q q 0 0 0 rg BT 421.25 535.00 Td (open ) Tj ET Q q 0 0 0 rg BT 442.23 535.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 456.00 535.00 Td (years ) Tj ET Q q 0 0 0 rg BT 478.64 535.00 Td (in ) Tj ET Q q 0 0 0 rg BT 487.97 535.00 Td (these ) Tj ET Q q 0 0 0 rg BT 510.06 535.00 Td (jurisdictions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 72.98 523.00 Td (believes ) Tj ET Q q 0 0 0 rg BT 107.62 523.00 Td (that ) Tj ET Q q 0 0 0 rg BT 124.49 523.00 Td (its ) Tj ET Q q 0 0 0 rg BT 135.81 523.00 Td (federal ) Tj ET Q q 0 0 0 rg BT 165.44 523.00 Td (and ) Tj ET Q q 0 0 0 rg BT 181.75 523.00 Td (state ) Tj ET Q q 0 0 0 rg BT 201.95 523.00 Td (income ) Tj ET Q q 0 0 0 rg BT 233.26 523.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 247.35 523.00 Td (filing ) Tj ET Q q 0 0 0 rg BT 270.89 523.00 Td (positions ) Tj ET Q q 0 0 0 rg BT 308.88 523.00 Td (and ) Tj ET Q q 0 0 0 rg BT 325.19 523.00 Td (deductions ) Tj ET Q q 0 0 0 rg BT 370.39 523.00 Td (will ) Tj ET Q q 0 0 0 rg BT 387.82 523.00 Td (be ) Tj ET Q q 0 0 0 rg BT 399.14 523.00 Td (sustained ) Tj ET Q q 0 0 0 rg BT 438.23 523.00 Td (on ) Tj ET Q q 0 0 0 rg BT 450.10 523.00 Td (audit ) Tj ET Q q 0 0 0 rg BT 471.97 523.00 Td (and ) Tj ET Q q 0 0 0 rg BT 488.28 523.00 Td (does ) Tj ET Q q 0 0 0 rg BT 508.49 523.00 Td (not ) Tj ET Q q 0 0 0 rg BT 523.14 523.00 Td (anticipate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.00 Td (any ) Tj ET Q q 0 0 0 rg BT 66.58 511.00 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 116.50 511.00 Td (that ) Tj ET Q q 0 0 0 rg BT 133.64 511.00 Td (will ) Tj ET Q q 0 0 0 rg BT 151.34 511.00 Td (result ) Tj ET Q q 0 0 0 rg BT 175.71 511.00 Td (in ) Tj ET Q q 0 0 0 rg BT 185.63 511.00 Td (a ) Tj ET Q q 0 0 0 rg BT 192.21 511.00 Td (material ) Tj ET Q q 0 0 0 rg BT 227.12 511.00 Td (change ) Tj ET Q q 0 0 0 rg BT 257.58 511.00 Td (to ) Tj ET Q q 0 0 0 rg BT 267.50 511.00 Td (its ) Tj ET Q q 0 0 0 rg BT 279.09 511.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 316.22 511.00 Td (position. ) Tj ET Q q 0 0 0 rg BT 352.94 511.00 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 396.99 511.00 Td (no ) Tj ET Q q 0 0 0 rg BT 409.14 511.00 Td (reserves ) Tj ET Q q 0 0 0 rg BT 444.04 511.00 Td (for ) Tj ET Q q 0 0 0 rg BT 457.85 511.00 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 497.20 511.00 Td (federal ) Tj ET Q q 0 0 0 rg BT 527.09 511.00 Td (and ) Tj ET Q q 0 0 0 rg BT 543.68 511.00 Td (state ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.00 Td (income ) Tj ET Q q 0 0 0 rg BT 82.20 499.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 97.18 499.00 Td (positions ) Tj ET Q q 0 0 0 rg BT 136.06 499.00 Td (have ) Tj ET Q q 0 0 0 rg BT 157.70 499.00 Td (been ) Tj ET Q q 0 0 0 rg BT 179.34 499.00 Td (recorded. ) Tj ET Q q 0 0 0 rg BT 218.97 499.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 242.84 499.00 Td (would ) Tj ET Q q 0 0 0 rg BT 270.61 499.00 Td (recognize ) Tj ET Q q 0 0 0 rg BT 312.23 499.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 344.43 499.00 Td (and ) Tj ET Q q 0 0 0 rg BT 361.63 499.00 Td (penalties ) Tj ET Q q 0 0 0 rg BT 399.94 499.00 Td (related ) Tj ET Q q 0 0 0 rg BT 429.90 499.00 Td (to ) Tj ET Q q 0 0 0 rg BT 440.44 499.00 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 497.07 499.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 512.05 499.00 Td (benefits ) Tj ET Q q 0 0 0 rg BT 546.47 499.00 Td (as ) Tj ET Q q 0 0 0 rg BT 557.56 499.00 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.00 Td (component ) Tj ET Q q 0 0 0 rg BT 97.01 487.00 Td (of ) Tj ET Q q 0 0 0 rg BT 107.91 487.00 Td (the ) Tj ET Q q 0 0 0 rg BT 122.70 487.00 Td (provision ) Tj ET Q q 0 0 0 rg BT 163.05 487.00 Td (for ) Tj ET Q q 0 0 0 rg BT 177.28 487.00 Td (federal ) Tj ET Q q 0 0 0 rg BT 207.61 487.00 Td (income ) Tj ET Q q 0 0 0 rg BT 239.61 487.00 Td (taxes. ) Tj ET Q q 0 0 0 rg BT 264.66 487.00 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 288.34 487.00 Td (did ) Tj ET Q q 0 0 0 rg BT 303.69 487.00 Td (not ) Tj ET Q q 0 0 0 rg BT 319.05 487.00 Td (incur ) Tj ET Q q 0 0 0 rg BT 342.16 487.00 Td (any ) Tj ET Q q 0 0 0 rg BT 359.18 487.00 Td (federal ) Tj ET Q q 0 0 0 rg BT 389.50 487.00 Td (income ) Tj ET Q q 0 0 0 rg BT 421.51 487.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 436.30 487.00 Td (related ) Tj ET Q q 0 0 0 rg BT 466.07 487.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 498.08 487.00 Td (income, ) Tj ET Q q 0 0 0 rg BT 532.58 487.00 Td (interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.00 Td (expense ) Tj ET Q q 0 0 0 rg BT 84.80 475.00 Td (or ) Tj ET Q q 0 0 0 rg BT 95.73 475.00 Td (penalties ) Tj ET Q q 0 0 0 rg BT 133.87 475.00 Td (for ) Tj ET Q q 0 0 0 rg BT 148.13 475.00 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.94 475.00 Td (years ) Tj ET Q q 0 0 0 rg BT 186.64 475.00 Td (ended ) Tj ET Q q 0 0 0 rg BT 213.12 475.00 Td (December ) Tj ET Q q 0 0 0 rg BT 256.80 475.00 Td (31, ) Tj ET Q q 0 0 0 rg BT 271.89 475.00 Td (2014 ) Tj ET Q q 0 0 0 rg BT 294.49 475.00 Td (and ) Tj ET Q q 0 0 0 rg BT 311.53 475.00 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.53 475.00 Td (. ) Tj ET Q q 0 0 0 rg BT 336.44 475.00 Td (T) Tj ET Q q 0 0 0 rg BT 341.85 475.00 Td (ax ) Tj ET Q q 0 0 0 rg BT 353.88 475.00 Td (years ) Tj ET Q q 0 0 0 rg BT 377.58 475.00 Td (2009 ) Tj ET Q q 0 0 0 rg BT 400.18 475.00 Td (through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.88 475.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.88 475.00 Td ( ) Tj ET Q q 0 0 0 rg BT 456.48 475.00 Td (are ) Tj ET Q q 0 0 0 rg BT 471.29 475.00 Td (subject ) Tj ET Q q 0 0 0 rg BT 502.21 475.00 Td (to ) Tj ET Q q 0 0 0 rg BT 512.59 475.00 Td (examination ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.00 Td (by ) Tj ET Q q 0 0 0 rg BT 62.50 463.00 Td (the ) Tj ET Q q 0 0 0 rg BT 77.22 463.00 Td (Internal ) Tj ET Q q 0 0 0 rg BT 110.81 463.00 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 148.30 463.00 Td (Service ) Tj ET Q q 0 0 0 rg BT 180.78 463.00 Td (\("IRS"\). ) Tj ET Q q 0 0 0 rg BT 216.17 463.00 Td ( ) Tj ET Q q 0 0 0 rg BT 218.49 463.00 Td (The ) Tj ET Q q 0 0 0 rg BT 236.53 463.00 Td (Company's ) Tj ET Q q 0 0 0 rg BT 283.61 463.00 Td (2012 ) Tj ET Q q 0 0 0 rg BT 306.11 463.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 320.83 463.00 Td (year ) Tj ET Q q 0 0 0 rg BT 340.54 463.00 Td (is ) Tj ET Q q 0 0 0 rg BT 349.71 463.00 Td (currently ) Tj ET Q q 0 0 0 rg BT 388.30 463.00 Td (under ) Tj ET Q q 0 0 0 rg BT 413.57 463.00 Td (examination.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 439.20 Td (8. ) Tj ET Q q 0 0 0 rg BT 77.45 439.20 Td (ASSETS HELD FOR SALE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 422.20 Td (The ) Tj ET Q q 0 0 0 rg BT 67.68 422.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.70 422.20 Td (owns ) Tj ET Q q 0 0 0 rg BT 131.94 422.20 Td (two ) Tj ET Q q 0 0 0 rg BT 149.07 422.20 Td (properties ) Tj ET Q q 0 0 0 rg BT 191.19 422.20 Td (located ) Tj ET Q q 0 0 0 rg BT 222.19 422.20 Td (in ) Tj ET Q q 0 0 0 rg BT 231.63 422.20 Td (Alabama ) Tj ET Q q 0 0 0 rg BT 269.86 422.20 Td (which ) Tj ET Q q 0 0 0 rg BT 296.43 422.20 Td (are ) Tj ET Q q 0 0 0 rg BT 310.77 422.20 Td (for ) Tj ET Q q 0 0 0 rg BT 324.56 422.20 Td (sale. ) Tj ET Q q 0 0 0 rg BT 344.73 422.20 Td ( ) Tj ET Q q 0 0 0 rg BT 346.71 422.20 Td (These ) Tj ET Q q 0 0 0 rg BT 372.72 422.20 Td (properties ) Tj ET Q q 0 0 0 rg BT 414.84 422.20 Td (are ) Tj ET Q q 0 0 0 rg BT 429.18 422.20 Td (listed ) Tj ET Q q 0 0 0 rg BT 452.97 422.20 Td (for ) Tj ET Q q 0 0 0 rg BT 466.76 422.20 Td (sale ) Tj ET Q q 0 0 0 rg BT 484.44 422.20 Td (for ) Tj ET Q q 0 0 0 rg BT 498.23 422.20 Td (amounts ) Tj ET Q q 0 0 0 rg BT 534.25 422.20 Td (greater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.20 Td (than ) Tj ET Q q 0 0 0 rg BT 69.72 410.20 Td (carried ) Tj ET Q q 0 0 0 rg BT 99.97 410.20 Td (values. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 381.20 Td (9. INTERNAL) Tj ET Q q 0 0 0 rg BT 130.24 381.20 Td ( USE SOFTW) Tj ET Q q 0 0 0 rg BT 189.70 381.20 Td (ARE ) Tj ET Q q 0 0 0 rg BT 212.76 381.20 Td (AND CAPIT) Tj ET Q q 0 0 0 rg BT 267.30 381.20 Td (AL) Tj ET Q q 0 0 0 rg BT 280.64 381.20 Td ( ) Tj ET Q q 0 0 0 rg BT 282.58 381.20 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.20 Td (Atlas held the following internal-use software and capital assets at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.70 364.20 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.28 364.20 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.72 364.20 Td (December31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.30 364.20 Td ( \(excluding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.20 Td (assets held for sale\): ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 336.70 419.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 336.70 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 336.70 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 336.70 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 309.70 419.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 309.70 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 309.70 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 309.70 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 283.70 419.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 283.70 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 283.70 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 283.70 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 257.70 419.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 257.70 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 257.70 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 257.70 44.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 336.70000000000005 m 512.5 336.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 322.70000000000005 m 512.5 322.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 336.70000000000005 m 517.5 336.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 322.70000000000005 m 517.5 322.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 336.70000000000005 m 561.5 336.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 322.70000000000005 m 561.5 322.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 322.70000000000005 m 512.5 322.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 322.70000000000005 m 561.5 322.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 270.70000000000005 m 512.5 270.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 270.70000000000005 m 561.5 270.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 244.70000000000005 m 512.5 244.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 232.70000000000005 m 512.5 232.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 230.70000000000005 m 512.5 230.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 244.70000000000005 m 561.5 244.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 232.70000000000005 m 561.5 232.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 230.70000000000005 m 561.5 230.70000000000005 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.00 327.38 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.00 327.38 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 313.27 Td (Leasehold improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 313.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 313.27 Td (501) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 313.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 313.27 Td (501) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 300.27 Td (Internal use software) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 300.27 Td (7,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 300.27 Td (6,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 287.27 Td (Computer equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 287.27 Td (1,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 287.27 Td (1,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 274.27 Td (Furniture and other office equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 274.27 Td (397) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 274.27 Td (394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 261.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.10 261.27 Td (10,114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 261.27 Td (8,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 248.27 Td (Accumulated depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.80 248.32 Td (\(7,295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.65 248.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 248.32 Td (\(6,489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 248.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 235.27 Td (Balance, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 235.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 235.27 Td (2,819) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 235.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 235.27 Td (2,500) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 201.45 Td (10. UNDER) Tj ET Q q 0 0 0 rg BT 120.71 201.45 Td (WRITING POLICY) Tj ET Q q 0 0 0 rg BT 208.40 201.45 Td ( ) Tj ET Q q 0 0 0 rg BT 210.35 201.45 Td (AND REINSURANCE CEDED) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 184.45 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 111.22 184.45 Td (Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.67 184.45 Td ( ) Tj ET Q q 0 0 0 rg BT 133.56 184.45 Td (- ) Tj ET Q q 0 0 0 rg BT 139.78 184.45 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 196.54 184.45 Td (risk ) Tj ET Q q 0 0 0 rg BT 214.43 184.45 Td (is ) Tj ET Q q 0 0 0 rg BT 223.99 184.45 Td (the ) Tj ET Q q 0 0 0 rg BT 239.09 184.45 Td (risk ) Tj ET Q q 0 0 0 rg BT 256.98 184.45 Td (that ) Tj ET Q q 0 0 0 rg BT 274.87 184.45 Td (the ) Tj ET Q q 0 0 0 rg BT 289.97 184.45 Td (total ) Tj ET Q q 0 0 0 rg BT 310.63 184.45 Td (cost ) Tj ET Q q 0 0 0 rg BT 329.63 184.45 Td (of ) Tj ET Q q 0 0 0 rg BT 340.85 184.45 Td (claims ) Tj ET Q q 0 0 0 rg BT 369.84 184.45 Td (and ) Tj ET Q q 0 0 0 rg BT 387.17 184.45 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 433.94 184.45 Td (expenses ) Tj ET Q q 0 0 0 rg BT 472.92 184.45 Td (will ) Tj ET Q q 0 0 0 rg BT 491.37 184.45 Td (exceed ) Tj ET Q q 0 0 0 rg BT 522.01 184.45 Td (premiums ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.45 Td (received ) Tj ET Q q 0 0 0 rg BT 86.40 172.45 Td (and ) Tj ET Q q 0 0 0 rg BT 103.37 172.45 Td (can ) Tj ET Q q 0 0 0 rg BT 119.78 172.45 Td (arise ) Tj ET Q q 0 0 0 rg BT 141.19 172.45 Td (from ) Tj ET Q q 0 0 0 rg BT 163.16 172.45 Td (numerous ) Tj ET Q q 0 0 0 rg BT 205.13 172.45 Td (factors, ) Tj ET Q q 0 0 0 rg BT 237.37 172.45 Td (including ) Tj ET Q q 0 0 0 rg BT 277.68 172.45 Td (pricing ) Tj ET Q q 0 0 0 rg BT 308.54 172.45 Td (risk, ) Tj ET Q q 0 0 0 rg BT 328.57 172.45 Td (reserving ) Tj ET Q q 0 0 0 rg BT 368.31 172.45 Td (risk, ) Tj ET Q q 0 0 0 rg BT 388.34 172.45 Td (catastrophic ) Tj ET Q q 0 0 0 rg BT 439.19 172.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 457.28 172.45 Td (risk, ) Tj ET Q q 0 0 0 rg BT 477.31 172.45 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 525.93 172.45 Td (coverage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.45 Td (risk ) Tj ET Q q 0 0 0 rg BT 67.50 160.45 Td (and ) Tj ET Q q 0 0 0 rg BT 84.44 160.45 Td (that ) Tj ET Q q 0 0 0 rg BT 101.93 160.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 120.00 160.45 Td (and ) Tj ET Q q 0 0 0 rg BT 136.93 160.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 155.00 160.45 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 201.38 160.45 Td (expense ) Tj ET Q q 0 0 0 rg BT 236.08 160.45 Td (reserves ) Tj ET Q q 0 0 0 rg BT 271.34 160.45 Td (are ) Tj ET Q q 0 0 0 rg BT 286.05 160.45 Td (not ) Tj ET Q q 0 0 0 rg BT 301.33 160.45 Td (suf) Tj ET Q q 0 0 0 rg BT 313.37 160.45 Td (ficient.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 143.45 Td (Reinsurance ) Tj ET Q q 0 0 0 rg BT 106.08 143.45 Td (Ceded) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.30 143.45 Td ( ) Tj ET Q q 0 0 0 rg BT 136.05 143.45 Td (- ) Tj ET Q q 0 0 0 rg BT 141.53 143.45 Td (As ) Tj ET Q q 0 0 0 rg BT 155.39 143.45 Td (is ) Tj ET Q q 0 0 0 rg BT 164.81 143.45 Td (customary ) Tj ET Q q 0 0 0 rg BT 209.22 143.45 Td (in ) Tj ET Q q 0 0 0 rg BT 219.75 143.45 Td (the ) Tj ET Q q 0 0 0 rg BT 234.72 143.45 Td (insurance ) Tj ET Q q 0 0 0 rg BT 275.79 143.45 Td (industry) Tj ET Q q 0 0 0 rg BT 307.92 143.45 Td (, ) Tj ET Q q 0 0 0 rg BT 312.56 143.45 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 336.42 143.45 Td (reinsures ) Tj ET Q q 0 0 0 rg BT 375.27 143.45 Td (portions ) Tj ET Q q 0 0 0 rg BT 410.80 143.45 Td (of ) Tj ET Q q 0 0 0 rg BT 421.88 143.45 Td (certain ) Tj ET Q q 0 0 0 rg BT 451.83 143.45 Td (insurance ) Tj ET Q q 0 0 0 rg BT 492.90 143.45 Td (policies ) Tj ET Q q 0 0 0 rg BT 526.76 143.45 Td (it ) Tj ET Q q 0 0 0 rg BT 535.06 143.45 Td (writes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.45 Td (thereby ) Tj ET Q q 0 0 0 rg BT 82.01 131.45 Td (providing ) Tj ET Q q 0 0 0 rg BT 122.92 131.45 Td (a ) Tj ET Q q 0 0 0 rg BT 129.38 131.45 Td (greater ) Tj ET Q q 0 0 0 rg BT 159.15 131.45 Td (diversification ) Tj ET Q q 0 0 0 rg BT 218.93 131.45 Td (of ) Tj ET Q q 0 0 0 rg BT 229.28 131.45 Td (risk ) Tj ET Q q 0 0 0 rg BT 246.30 131.45 Td (and ) Tj ET Q q 0 0 0 rg BT 262.76 131.45 Td (minimizing ) Tj ET Q q 0 0 0 rg BT 310.89 131.45 Td (exposure ) Tj ET Q q 0 0 0 rg BT 349.01 131.45 Td (on ) Tj ET Q q 0 0 0 rg BT 361.04 131.45 Td (lar) Tj ET Q q 0 0 0 rg BT 371.40 131.45 Td (ger ) Tj ET Q q 0 0 0 rg BT 386.19 131.45 Td (risks. ) Tj ET Q q 0 0 0 rg BT 409.16 131.45 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 432.29 131.45 Td (remains ) Tj ET Q q 0 0 0 rg BT 465.96 131.45 Td (contingently ) Tj ET Q q 0 0 0 rg BT 517.98 131.45 Td (at ) Tj ET Q q 0 0 0 rg BT 527.21 131.45 Td (risk ) Tj ET Q q 0 0 0 rg BT 544.24 131.45 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.45 Td (respect ) Tj ET Q q 0 0 0 rg BT 81.01 119.45 Td (to ) Tj ET Q q 0 0 0 rg BT 91.48 119.45 Td (any ) Tj ET Q q 0 0 0 rg BT 108.61 119.45 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 157.38 119.45 Td (ceded ) Tj ET Q q 0 0 0 rg BT 183.39 119.45 Td (and ) Tj ET Q q 0 0 0 rg BT 200.52 119.45 Td (would ) Tj ET Q q 0 0 0 rg BT 228.21 119.45 Td (incur ) Tj ET Q q 0 0 0 rg BT 251.45 119.45 Td (an ) Tj ET Q q 0 0 0 rg BT 263.58 119.45 Td (additional ) Tj ET Q q 0 0 0 rg BT 306.26 119.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 324.52 119.45 Td (if ) Tj ET Q q 0 0 0 rg BT 333.32 119.45 Td (an ) Tj ET Q q 0 0 0 rg BT 345.45 119.45 Td (assuming ) Tj ET Q q 0 0 0 rg BT 385.92 119.45 Td (company ) Tj ET Q q 0 0 0 rg BT 425.27 119.45 Td (were ) Tj ET Q q 0 0 0 rg BT 447.39 119.45 Td (unable ) Tj ET Q q 0 0 0 rg BT 476.73 119.45 Td (to ) Tj ET Q q 0 0 0 rg BT 487.20 119.45 Td (meet ) Tj ET Q q 0 0 0 rg BT 509.33 119.45 Td (its ) Tj ET Q q 0 0 0 rg BT 521.47 119.45 Td (obligation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.45 Td (under ) Tj ET Q q 0 0 0 rg BT 75.27 107.45 Td (the ) Tj ET Q q 0 0 0 rg BT 89.99 107.45 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 138.57 107.45 Td (treaty) Tj ET Q q 0 0 0 rg BT 160.68 107.45 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 90.45 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.54 90.45 Td (monitors ) Tj ET Q q 0 0 0 rg BT 111.52 90.45 Td (the ) Tj ET Q q 0 0 0 rg BT 126.17 90.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 163.58 90.45 Td (condition ) Tj ET Q q 0 0 0 rg BT 203.78 90.45 Td (of ) Tj ET Q q 0 0 0 rg BT 214.54 90.45 Td (its ) Tj ET Q q 0 0 0 rg BT 226.41 90.45 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 268.27 90.45 Td (to ) Tj ET Q q 0 0 0 rg BT 278.48 90.45 Td (minimize ) Tj ET Q q 0 0 0 rg BT 318.67 90.45 Td (its ) Tj ET Q q 0 0 0 rg BT 330.55 90.45 Td (exposure ) Tj ET Q q 0 0 0 rg BT 369.08 90.45 Td (to ) Tj ET Q q 0 0 0 rg BT 379.28 90.45 Td (significant ) Tj ET Q q 0 0 0 rg BT 423.92 90.45 Td (losses ) Tj ET Q q 0 0 0 rg BT 450.24 90.45 Td (from ) Tj ET Q q 0 0 0 rg BT 472.11 90.45 Td (reinsurer ) Tj ET Q q 0 0 0 rg BT 510.07 90.45 Td (insolvencies. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.45 Td (Letters ) Tj ET Q q 0 0 0 rg BT 79.85 78.45 Td (of ) Tj ET Q q 0 0 0 rg BT 90.26 78.45 Td (credit ) Tj ET Q q 0 0 0 rg BT 115.11 78.45 Td (are ) Tj ET Q q 0 0 0 rg BT 129.40 78.45 Td (maintained ) Tj ET Q q 0 0 0 rg BT 175.91 78.45 Td (for ) Tj ET Q q 0 0 0 rg BT 189.66 78.45 Td (any ) Tj ET Q q 0 0 0 rg BT 206.18 78.45 Td (unauthorized ) Tj ET Q q 0 0 0 rg BT 260.47 78.45 Td (reinsurer ) Tj ET Q q 0 0 0 rg BT 298.09 78.45 Td (to ) Tj ET Q q 0 0 0 rg BT 307.95 78.45 Td (cover ) Tj ET Q q 0 0 0 rg BT 332.24 78.45 Td (ceded ) Tj ET Q q 0 0 0 rg BT 357.64 78.45 Td (unearned ) Tj ET Q q 0 0 0 rg BT 396.37 78.45 Td (premium, ) Tj ET Q q 0 0 0 rg BT 437.06 78.45 Td (ceded ) Tj ET Q q 0 0 0 rg BT 462.46 78.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 480.10 78.45 Td (reserve ) Tj ET Q q 0 0 0 rg BT 511.05 78.45 Td (balances ) Tj ET Q q 0 0 0 rg BT 547.56 78.45 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 66.45 Td (ceded ) Tj ET Q q 0 0 0 rg BT 76.12 66.45 Td (paid ) Tj ET Q q 0 0 0 rg BT 96.14 66.45 Td (losses. ) Tj ET Q q 0 0 0 rg BT 125.13 66.45 Td (These ) Tj ET Q q 0 0 0 rg BT 151.81 66.45 Td (policies ) Tj ET Q q 0 0 0 rg BT 185.71 66.45 Td (mitigate ) Tj ET Q q 0 0 0 rg BT 221.28 66.45 Td (the ) Tj ET Q q 0 0 0 rg BT 236.30 66.45 Td (risk ) Tj ET Q q 0 0 0 rg BT 254.10 66.45 Td (of ) Tj ET Q q 0 0 0 rg BT 265.23 66.45 Td (credit ) Tj ET Q q 0 0 0 rg BT 290.80 66.45 Td (quality ) Tj ET Q q 0 0 0 rg BT 321.37 66.45 Td (or ) Tj ET Q q 0 0 0 rg BT 332.51 66.45 Td (dispute ) Tj ET Q q 0 0 0 rg BT 364.19 66.45 Td (from ) Tj ET Q q 0 0 0 rg BT 386.43 66.45 Td (becoming ) Tj ET Q q 0 0 0 rg BT 428.67 66.45 Td (a ) Tj ET Q q 0 0 0 rg BT 435.91 66.45 Td (danger ) Tj ET Q q 0 0 0 rg BT 465.92 66.45 Td (to ) Tj ET Q q 0 0 0 rg BT 476.50 66.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 514.28 66.45 Td (strength. ) Tj ET Q q 0 0 0 rg BT 551.60 66.45 Td (T) Tj ET Q q 0 0 0 rg BT 557.01 66.45 Td (o ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 54.45 Td (date, ) Tj ET Q q 0 0 0 rg BT 71.66 54.45 Td (the ) Tj ET Q q 0 0 0 rg BT 86.37 54.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 127.76 54.45 Td (has ) Tj ET Q q 0 0 0 rg BT 143.59 54.45 Td (not ) Tj ET Q q 0 0 0 rg BT 158.87 54.45 Td (experienced ) Tj ET Q q 0 0 0 rg BT 209.67 54.45 Td (any ) Tj ET Q q 0 0 0 rg BT 226.61 54.45 Td (material ) Tj ET Q q 0 0 0 rg BT 261.87 54.45 Td (dif) Tj ET Q q 0 0 0 rg BT 272.79 54.45 Td (ficulties ) Tj ET Q q 0 0 0 rg BT 307.50 54.45 Td (in ) Tj ET Q q 0 0 0 rg BT 317.78 54.45 Td (collecting ) Tj ET Q q 0 0 0 rg BT 359.71 54.45 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 408.30 54.45 Td (recoverables.) Tj ET Q endstream endobj 145 0 obj <> endobj 146 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Gross ) Tj ET Q q 0 0 0 rg BT 75.41 742.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 117.49 742.10 Td (written ) Tj ET Q q 0 0 0 rg BT 147.89 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 164.41 742.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 189.80 742.10 Td (premiums, ) Tj ET Q q 0 0 0 rg BT 234.38 742.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 260.35 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 276.87 742.10 Td (commissions ) Tj ET Q q 0 0 0 rg BT 331.17 742.10 Td (as ) Tj ET Q q 0 0 0 rg BT 341.58 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 351.99 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 368.51 742.10 Td (for ) Tj ET Q q 0 0 0 rg BT 382.25 742.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.54 742.10 Td (years ) Tj ET Q q 0 0 0 rg BT 419.72 742.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 445.68 742.10 Td (December ) Tj ET Q q 0 0 0 rg BT 488.84 742.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 503.42 742.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 525.50 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 542.02 742.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.02 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.71 730.10 Td (as ) Tj ET Q q 0 0 0 rg BT 75.54 730.10 Td (follows ) Tj ET Q q 0 0 0 rg BT 108.04 730.10 Td (\(all ) Tj ET Q q 0 0 0 rg BT 123.86 730.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 160.25 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 170.53 730.10 Td ('000s\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 714.60 418.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 714.60 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.50 714.60 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 688.60 418.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 688.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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(2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.50 705.28 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 691.22 Td (Direct premiums written) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.00 691.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.10 691.22 Td (122,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.00 691.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 691.22 Td (92,487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 679.22 Td (Assumed premiums written) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 679.22 Td (93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 679.22 Td (573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 667.22 Td (Ceded premiums written) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.10 667.22 Td (11,011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 667.22 Td (12,580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 655.22 Td (Net premiums written) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.10 655.22 Td (111,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 655.22 Td (80,480) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 637.22 Td (Ceded premiums earned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 637.22 Td (9,589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 637.22 Td (12,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 625.22 Td (Ceded losses and loss adjustment expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 625.22 Td (8,783) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 625.22 Td (4,883) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 613.22 Td (Ceding commissions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 613.22 Td (2,374) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 613.22 Td (2,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 589.22 Td (Ceded unpaid losses and loss adjustment expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.10 589.22 Td (18,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 589.22 Td (18,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 577.22 Td (Prepaid reinsurance premiums) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 577.22 Td (3,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 577.22 Td (2,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 565.22 Td (Other amounts due from reinsurers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 565.22 Td (2,230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 565.22 Td (1,002) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 527.30 Td (1) Tj ET Q q 0 0 0 rg BT 72.45 527.30 Td (1. UNP) Tj ET Q q 0 0 0 rg BT 104.76 527.30 Td (AID CLAIMS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 510.30 Td (Claims ) Tj ET Q q 0 0 0 rg BT 83.13 510.30 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 125.14 510.30 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.60 510.30 Td (The ) Tj ET Q q 0 0 0 rg BT 150.27 510.30 Td (changes ) Tj ET Q q 0 0 0 rg BT 185.60 510.30 Td (in ) Tj ET Q q 0 0 0 rg BT 196.50 510.30 Td (the ) Tj ET Q q 0 0 0 rg BT 211.85 510.30 Td (provision ) Tj ET Q q 0 0 0 rg BT 252.75 510.30 Td (for ) Tj ET Q q 0 0 0 rg BT 267.53 510.30 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 297.88 510.30 Td (claims, ) Tj ET Q q 0 0 0 rg BT 329.60 510.30 Td (net ) Tj ET Q q 0 0 0 rg BT 344.95 510.30 Td (of ) Tj ET Q q 0 0 0 rg BT 356.40 510.30 Td (amounts ) Tj ET Q q 0 0 0 rg BT 393.41 510.30 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 443.17 510.30 Td (from ) Tj ET Q q 0 0 0 rg BT 465.73 510.30 Td (reinsurers, ) Tj ET Q q 0 0 0 rg BT 510.79 510.30 Td (for ) Tj ET Q q 0 0 0 rg BT 525.57 510.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.91 510.30 Td (years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 498.30 Td (ended ) Tj ET Q q 0 0 0 rg BT 76.38 498.30 Td (December ) Tj ET Q q 0 0 0 rg BT 119.96 498.30 Td (31, ) Tj ET Q q 0 0 0 rg BT 134.96 498.30 Td (2014 ) Tj ET Q q 0 0 0 rg BT 157.46 498.30 Td (and ) Tj ET Q q 0 0 0 rg BT 174.40 498.30 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.40 498.30 Td ( ) Tj ET Q q 0 0 0 rg BT 196.90 498.30 Td (were ) Tj ET Q q 0 0 0 rg BT 218.83 498.30 Td (as ) Tj ET Q q 0 0 0 rg BT 229.66 498.30 Td (follows ) Tj ET Q q 0 0 0 rg BT 262.16 498.30 Td (\(all ) Tj ET Q q 0 0 0 rg BT 277.98 498.30 Td (amounts ) Tj ET Q q 0 0 0 rg BT 314.37 498.30 Td (in ) Tj ET Q q 0 0 0 rg BT 324.65 498.30 Td ('000s\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 482.80 408.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 482.80 47.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 482.80 5.00 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469.79999999999995 m 510.5 469.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 469.79999999999995 m 562.5 469.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 469.79999999999995 m 505.5 469.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 469.79999999999995 m 510.5 469.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 469.79999999999995 m 562.5 469.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 443.79999999999995 m 505.5 443.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 443.79999999999995 m 510.5 443.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 443.79999999999995 m 562.5 443.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 443.79999999999995 m 505.5 443.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 443.79999999999995 m 510.5 443.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 443.79999999999995 m 562.5 443.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 356.79999999999995 m 505.5 356.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 356.79999999999995 m 510.5 356.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 356.79999999999995 m 562.5 356.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 356.79999999999995 m 505.5 356.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 356.79999999999995 m 510.5 356.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 356.79999999999995 m 562.5 356.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 300.79999999999995 m 505.5 300.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 300.79999999999995 m 510.5 300.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 300.79999999999995 m 562.5 300.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 300.79999999999995 m 505.5 300.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 300.79999999999995 m 510.5 300.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 300.79999999999995 m 562.5 300.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 253.79999999999995 m 505.5 253.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 253.79999999999995 m 510.5 253.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 253.79999999999995 m 562.5 253.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 253.79999999999995 m 505.5 253.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 240.79999999999995 m 505.5 240.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 238.79999999999995 m 505.5 238.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 253.79999999999995 m 510.5 253.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 240.79999999999995 m 510.5 240.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 238.79999999999995 m 510.5 238.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 253.79999999999995 m 562.5 253.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 240.79999999999995 m 562.5 240.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 238.79999999999995 m 562.5 238.79999999999995 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 473.53 Td (As of the year ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 473.53 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.00 473.53 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 460.37 Td (Unpaid claims, beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 460.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.10 460.37 Td (101,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 460.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 460.37 Td (70,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 447.37 Td (Less: reinsurance recoverable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 447.37 Td (18,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 447.37 Td (5,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 434.37 Td (Net beginning unpaid claims reserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 434.37 Td (83,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 434.37 Td (64,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 421.37 Td (Net reserves acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 421.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 421.37 Td (29,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 408.37 Td (Loss portfolio transfer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 408.37 Td (2,415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 408.42 Td (\(5,919) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 408.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 389.37 Td (Incurred related to:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 375.37 Td (Current year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 375.37 Td (61,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 375.37 Td (45,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 361.37 Td (Prior years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 361.42 Td (\(602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 361.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 361.37 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 347.37 Td (61,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 347.37 Td (45,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 333.37 Td (Paid related to:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 319.37 Td (Current year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 319.37 Td (19,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 319.37 Td (12,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 305.37 Td (Prior years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 305.37 Td (43,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 305.37 Td (37,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 291.37 Td (62,725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 291.37 Td (50,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 272.37 Td (Net unpaid claims, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 272.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 272.37 Td (84,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 272.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 272.37 Td (83,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 258.37 Td (Add: reinsurance recoverable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 258.37 Td (18,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 258.37 Td (18,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 244.37 Td (Unpaid claims, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 244.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.10 244.37 Td (102,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 244.37 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.10 244.37 Td (101,385) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.30 Td (The ) Tj ET Q q 0 0 0 rg BT 68.06 223.30 Td (process ) Tj ET Q q 0 0 0 rg BT 100.56 223.30 Td (of ) Tj ET Q q 0 0 0 rg BT 111.40 223.30 Td (establishing ) Tj ET Q q 0 0 0 rg BT 161.68 223.30 Td (the ) Tj ET Q q 0 0 0 rg BT 176.41 223.30 Td (estimated ) Tj ET Q q 0 0 0 rg BT 217.24 223.30 Td (provision ) Tj ET Q q 0 0 0 rg BT 257.52 223.30 Td (for ) Tj ET Q q 0 0 0 rg BT 271.69 223.30 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 301.42 223.30 Td (claims ) Tj ET Q q 0 0 0 rg BT 330.03 223.30 Td (is ) Tj ET Q q 0 0 0 rg BT 339.21 223.30 Td (complex ) Tj ET Q q 0 0 0 rg BT 376.16 223.30 Td (and ) Tj ET Q q 0 0 0 rg BT 393.11 223.30 Td (imprecise, ) Tj ET Q q 0 0 0 rg BT 436.99 223.30 Td (as ) Tj ET Q q 0 0 0 rg BT 447.83 223.30 Td (it ) Tj ET Q q 0 0 0 rg BT 455.89 223.30 Td (relies ) Tj ET Q q 0 0 0 rg BT 480.06 223.30 Td (on ) Tj ET Q q 0 0 0 rg BT 492.57 223.30 Td (the ) Tj ET Q q 0 0 0 rg BT 507.29 223.30 Td (judgment ) Tj ET Q q 0 0 0 rg BT 547.58 223.30 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.30 Td (opinions ) Tj ET Q q 0 0 0 rg BT 86.62 211.30 Td (of ) Tj ET Q q 0 0 0 rg BT 97.11 211.30 Td (a ) Tj ET Q q 0 0 0 rg BT 103.72 211.30 Td (lar) Tj ET Q q 0 0 0 rg BT 114.08 211.30 Td (ge ) Tj ET Q q 0 0 0 rg BT 125.69 211.30 Td (number ) Tj ET Q q 0 0 0 rg BT 158.40 211.30 Td (of ) Tj ET Q q 0 0 0 rg BT 168.90 211.30 Td (individuals, ) Tj ET Q q 0 0 0 rg BT 218.01 211.30 Td (on ) Tj ET Q q 0 0 0 rg BT 230.18 211.30 Td (historical ) Tj ET Q q 0 0 0 rg BT 269.56 211.30 Td (precedent ) Tj ET Q q 0 0 0 rg BT 310.59 211.30 Td (and ) Tj ET Q q 0 0 0 rg BT 327.19 211.30 Td (trends, ) Tj ET Q q 0 0 0 rg BT 356.30 211.30 Td (on ) Tj ET Q q 0 0 0 rg BT 368.46 211.30 Td (prevailing ) Tj ET Q q 0 0 0 rg BT 411.17 211.30 Td (legal, ) Tj ET Q q 0 0 0 rg BT 435.27 211.30 Td (economic, ) Tj ET Q q 0 0 0 rg BT 478.81 211.30 Td (social ) Tj ET Q q 0 0 0 rg BT 504.30 211.30 Td (and ) Tj ET Q q 0 0 0 rg BT 520.91 211.30 Td (regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.30 Td (trends ) Tj ET Q q 0 0 0 rg BT 76.59 199.30 Td (and ) Tj ET Q q 0 0 0 rg BT 93.17 199.30 Td (on ) Tj ET Q q 0 0 0 rg BT 105.32 199.30 Td (expectations ) Tj ET Q q 0 0 0 rg BT 157.45 199.30 Td (as ) Tj ET Q q 0 0 0 rg BT 167.93 199.30 Td (to ) Tj ET Q q 0 0 0 rg BT 177.86 199.30 Td (future ) Tj ET Q q 0 0 0 rg BT 203.88 199.30 Td (developments. ) Tj ET Q q 0 0 0 rg BT 263.92 199.30 Td (The ) Tj ET Q q 0 0 0 rg BT 281.61 199.30 Td (process ) Tj ET Q q 0 0 0 rg BT 313.75 199.30 Td (of ) Tj ET Q q 0 0 0 rg BT 324.23 199.30 Td (determining ) Tj ET Q q 0 0 0 rg BT 374.70 199.30 Td (the ) Tj ET Q q 0 0 0 rg BT 389.06 199.30 Td (provision ) Tj ET Q q 0 0 0 rg BT 428.99 199.30 Td (necessarily ) Tj ET Q q 0 0 0 rg BT 475.56 199.30 Td (involves ) Tj ET Q q 0 0 0 rg BT 511.60 199.30 Td (risks ) Tj ET Q q 0 0 0 rg BT 532.64 199.30 Td (that ) Tj ET Q q 0 0 0 rg BT 549.78 199.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.30 Td (actual ) Tj ET Q q 0 0 0 rg BT 75.58 187.30 Td (results ) Tj ET Q q 0 0 0 rg BT 103.40 187.30 Td (will ) Tj ET Q q 0 0 0 rg BT 120.67 187.30 Td (deviate, ) Tj ET Q q 0 0 0 rg BT 153.75 187.30 Td (perhaps ) Tj ET Q q 0 0 0 rg BT 186.56 187.30 Td (substantially) Tj ET Q q 0 0 0 rg BT 236.47 187.30 Td (, ) Tj ET Q q 0 0 0 rg BT 240.68 187.30 Td (from ) Tj ET Q q 0 0 0 rg BT 261.83 187.30 Td (the ) Tj ET Q q 0 0 0 rg BT 275.76 187.30 Td (best ) Tj ET Q q 0 0 0 rg BT 293.58 187.30 Td (estimates ) Tj ET Q q 0 0 0 rg BT 332.50 187.30 Td (made. ) Tj ET Q q 0 0 0 rg BT 357.99 187.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 380.81 187.30 Td (experienced ) Tj ET Q q 0 0 0 rg BT 430.82 187.30 Td (favorable ) Tj ET Q q 0 0 0 rg BT 470.29 187.30 Td (prior ) Tj ET Q q 0 0 0 rg BT 491.44 187.30 Td (year ) Tj ET Q q 0 0 0 rg BT 510.35 187.30 Td (development ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.30 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.02 175.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.02 175.30 Td ( ) Tj ET Q q 0 0 0 rg BT 101.93 175.30 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.18 175.30 Td ($352,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.68 175.30 Td ( ) Tj ET Q q 0 0 0 rg BT 153.59 175.30 Td (on ) Tj ET Q q 0 0 0 rg BT 166.50 175.30 Td (its ) Tj ET Q q 0 0 0 rg BT 178.86 175.30 Td (core ) Tj ET Q q 0 0 0 rg BT 198.98 175.30 Td (lines ) Tj ET Q q 0 0 0 rg BT 220.78 175.30 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.13 175.30 Td ($250,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.63 175.30 Td ( ) Tj ET Q q 0 0 0 rg BT 278.54 175.30 Td (on ) Tj ET Q q 0 0 0 rg BT 291.46 175.30 Td (its ) Tj ET Q q 0 0 0 rg BT 303.82 175.30 Td (non-core ) Tj ET Q q 0 0 0 rg BT 342.27 175.30 Td (lines, ) Tj ET Q q 0 0 0 rg BT 366.57 175.30 Td (reflected ) Tj ET Q q 0 0 0 rg BT 404.45 175.30 Td (as ) Tj ET Q q 0 0 0 rg BT 415.69 175.30 Td (incurred ) Tj ET Q q 0 0 0 rg BT 451.92 175.30 Td (related ) Tj ET Q q 0 0 0 rg BT 482.04 175.30 Td (to ) Tj ET Q q 0 0 0 rg BT 492.73 175.30 Td (prior ) Tj ET Q q 0 0 0 rg BT 515.08 175.30 Td (years ) Tj ET Q q 0 0 0 rg BT 539.09 175.30 Td (in ) Tj ET Q q 0 0 0 rg BT 549.78 175.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.30 Td (table ) Tj ET Q q 0 0 0 rg BT 71.96 163.30 Td (above. ) Tj ET Q q 0 0 0 rg BT 100.87 163.30 Td ( ) Tj ET Q q 0 0 0 rg BT 102.84 163.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 126.48 163.30 Td (experienced ) Tj ET Q q 0 0 0 rg BT 177.31 163.30 Td (minimal ) Tj ET Q q 0 0 0 rg BT 213.18 163.30 Td (unfavorable ) Tj ET Q q 0 0 0 rg BT 263.46 163.30 Td (prior ) Tj ET Q q 0 0 0 rg BT 285.43 163.30 Td (year ) Tj ET Q q 0 0 0 rg BT 305.17 163.30 Td (development ) Tj ET Q q 0 0 0 rg BT 359.35 163.30 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.66 163.30 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.66 163.30 Td (, ) Tj ET Q q 0 0 0 rg BT 394.69 163.30 Td (reflected ) Tj ET Q q 0 0 0 rg BT 432.19 163.30 Td (as ) Tj ET Q q 0 0 0 rg BT 443.05 163.30 Td (incurred ) Tj ET Q q 0 0 0 rg BT 478.90 163.30 Td (related ) Tj ET Q q 0 0 0 rg BT 508.63 163.30 Td (to ) Tj ET Q q 0 0 0 rg BT 518.94 163.30 Td (prior ) Tj ET Q q 0 0 0 rg BT 540.91 163.30 Td (years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.30 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 151.30 Td (the ) Tj ET Q q 0 0 0 rg BT 75.00 151.30 Td (table ) Tj ET Q q 0 0 0 rg BT 96.93 151.30 Td (above, ) Tj ET Q q 0 0 0 rg BT 125.81 151.30 Td (on ) Tj ET Q q 0 0 0 rg BT 138.31 151.30 Td (its ) Tj ET Q q 0 0 0 rg BT 150.25 151.30 Td (non-core ) Tj ET Q q 0 0 0 rg BT 188.29 151.30 Td (lines.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 127.50 Td (12. ST) Tj ET Q q 0 0 0 rg BT 97.55 127.50 Td (OCK OPTIONS ) Tj ET Q q 0 0 0 rg BT 169.79 127.50 Td (AND ) Tj ET Q q 0 0 0 rg BT 193.77 127.50 Td (W) Tj ET Q q 0 0 0 rg BT 202.66 127.50 Td (ARRANTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 108.70 Td (Stock ) Tj ET Q q 0 0 0 rg BT 77.50 108.70 Td (options ) Tj ET Q q 0 0 0 rg BT 112.22 108.70 Td (- ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.16 108.70 Td (Stock ) Tj ET Q q 0 0 0 rg BT 145.54 108.70 Td (option ) Tj ET Q q 0 0 0 rg BT 174.70 108.70 Td (activity ) Tj ET Q q 0 0 0 rg BT 208.30 108.70 Td (for ) Tj ET Q q 0 0 0 rg BT 223.56 108.70 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.39 108.70 Td (years ) Tj ET Q q 0 0 0 rg BT 264.09 108.70 Td (ended ) Tj ET Q q 0 0 0 rg BT 291.57 108.70 Td (December ) Tj ET Q q 0 0 0 rg BT 336.26 108.70 Td (31, ) Tj ET Q q 0 0 0 rg BT 352.37 108.70 Td (2014 ) Tj ET Q q 0 0 0 rg BT 375.97 108.70 Td (and ) Tj ET Q q 0 0 0 rg BT 394.01 108.70 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.01 108.70 Td ( ) Tj ET Q q 0 0 0 rg BT 417.62 108.70 Td (follows ) Tj ET Q q 0 0 0 rg BT 451.22 108.70 Td (\(prices ) Tj ET Q q 0 0 0 rg BT 482.04 108.70 Td (in ) Tj ET Q q 0 0 0 rg BT 493.42 108.70 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 534.79 108.70 Td (dollars ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.90 Td (designated ) Tj ET Q q 0 0 0 rg BT 95.26 94.90 Td (with ) Tj ET Q q 0 0 0 rg BT 115.54 94.90 Td ("C$"\):) Tj ET Q endstream endobj 147 0 obj <> endobj 148 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (73) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 748.50 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 748.50 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 748.50 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 720.50 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 720.50 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 720.50 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 720.50 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 720.50 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 692.50 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 692.50 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 692.50 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 692.50 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 692.50 46.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 748.5 m 424.5 748.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 734.5 m 424.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 748.5 m 470.5 748.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 734.5 m 470.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 748.5 m 516.5 748.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 734.5 m 516.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 748.5 m 562.5 748.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 734.5 m 562.5 734.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 720.5 m 516.5 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 720.5 m 562.5 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 720.5 m 424.5 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 720.5 m 470.5 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 720.5 m 516.5 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 720.5 m 562.5 720.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 678.5 m 424.5 678.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 664.5 m 424.5 664.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 662.5 m 424.5 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 678.5 m 470.5 678.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 664.5 m 470.5 664.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 662.5 m 470.5 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 678.5 m 516.5 678.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 664.5 m 516.5 664.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 662.5 m 516.5 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 678.5 m 562.5 678.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 664.5 m 562.5 664.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 662.5 m 562.5 662.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.00 739.18 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.00 739.18 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.85 724.73 Td (Number) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.50 724.73 Td (Avg. Price) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 478.85 724.73 Td (Number) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.50 724.73 Td (Avg. Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 711.07 Td (Outstanding, beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.10 711.07 Td (224,623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 711.07 Td (C$) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.05 711.07 Td (6.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.10 711.07 Td (133,955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 711.07 Td (C$) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.10 711.07 Td (5.76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 697.07 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.10 697.07 Td (175,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 697.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.15 697.07 Td (13.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.10 697.07 Td (91,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 697.07 Td (C$) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.10 697.07 Td (6.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 683.07 Td (Exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 683.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.80 683.12 Td (\(1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 683.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 683.07 Td (C$) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.10 683.07 Td (3.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 668.17 Td (Outstanding, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.10 668.17 Td (399,623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.45 668.17 Td (- ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 448.28 672.70 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.10 668.17 Td (224,623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 668.17 Td (C$) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.10 668.17 Td (6.05) Tj ET Q BT /F1 10.00 Tf ET BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 50.00 651.63 Td (1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.60 648.00 Td ( - Options granted in Canadian dollars will be exer) Tj ET Q q 0 0 0 rg BT 216.96 648.00 Td (cised at the appr) Tj ET Q q 0 0 0 rg BT 270.21 648.00 Td (opriate conversion rate at the date of exer) Tj ET Q q 0 0 0 rg BT 404.77 648.00 Td (cise.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.20 Td (Information about options outstanding at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.81 629.20 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.39 629.20 Td ( is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 618.70 127.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 177.50 618.70 153.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 618.70 106.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 618.70 126.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 579.70 127.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 177.50 579.70 153.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 579.70 106.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 579.70 126.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 555.70 127.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 177.50 555.70 153.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 555.70 106.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 555.70 126.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 618.7 m 177.5 618.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 591.7 m 177.5 591.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 618.7 m 330.5 618.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 591.7 m 330.5 591.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 618.7 m 436.5 618.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 591.7 m 436.5 591.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 618.7 m 562.5 618.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 591.7 m 562.5 591.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 591.7 m 177.5 591.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 591.7 m 330.5 591.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 591.7 m 436.5 591.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 591.7 m 562.5 591.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 543.7 m 177.5 543.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 543.7 m 330.5 543.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 543.7 m 436.5 543.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 543.7 m 562.5 543.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 543.7 m 177.5 543.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 532.7 m 177.5 532.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 530.7 m 177.5 530.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 543.7 m 330.5 543.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 532.7 m 330.5 532.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 177.5 530.7 m 330.5 530.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 543.7 m 436.5 543.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 532.7 m 436.5 532.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 530.7 m 436.5 530.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 543.7 m 562.5 543.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 532.7 m 562.5 532.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 530.7 m 562.5 530.7 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 94.05 595.93 Td (Grant Date) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.05 595.93 Td (Expiration Date) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.50 595.93 Td (Number Outstanding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.15 595.93 Td (Number Exercisable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.70 582.32 Td (March 18, 2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.70 582.32 Td (March 15, 2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 582.32 Td (9,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 582.32 Td (9,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.35 570.32 Td (January 18, 2011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.20 570.32 Td (January 18, 2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 570.32 Td (123,255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 570.32 Td (123,255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.35 558.32 Td (January 11, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.35 558.32 Td (January 11, 2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 558.32 Td (91,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 558.32 Td (30,557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.20 546.32 Td (March 6, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.20 546.32 Td (March 6, 2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 546.32 Td (175,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 546.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 534.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 534.32 Td (399,623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 534.32 Td (163,512) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 515.20 Td (The ) Tj ET Q q 0 0 0 rg BT 68.42 515.20 Td (options ) Tj ET Q q 0 0 0 rg BT 100.73 515.20 Td (granted ) Tj ET Q q 0 0 0 rg BT 133.59 515.20 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.46 515.20 Td (March18, ) Tj ET Q q 0 0 0 rg BT 190.42 515.20 Td (2010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.42 515.20 Td ( ) Tj ET Q q 0 0 0 rg BT 213.29 515.20 Td (have ) Tj ET Q q 0 0 0 rg BT 235.04 515.20 Td (an ) Tj ET Q q 0 0 0 rg BT 247.34 515.20 Td (exercise ) Tj ET Q q 0 0 0 rg BT 282.97 515.20 Td (price ) Tj ET Q q 0 0 0 rg BT 305.82 515.20 Td (of ) Tj ET Q q 0 0 0 rg BT 317.02 515.20 Td (C) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.69 515.20 Td ($3.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.19 515.20 Td ( ) Tj ET Q q 0 0 0 rg BT 349.06 515.20 Td (per ) Tj ET Q q 0 0 0 rg BT 364.69 515.20 Td (share. ) Tj ET Q q 0 0 0 rg BT 390.95 515.20 Td (These ) Tj ET Q q 0 0 0 rg BT 417.70 515.20 Td (options ) Tj ET Q q 0 0 0 rg BT 450.02 515.20 Td (were ) Tj ET Q q 0 0 0 rg BT 472.31 515.20 Td (granted ) Tj ET Q q 0 0 0 rg BT 505.17 515.20 Td (to ) Tj ET Q q 0 0 0 rg BT 515.82 515.20 Td (directors ) Tj ET Q q 0 0 0 rg BT 553.67 515.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.20 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 75.41 503.20 Td (predecessor ) Tj ET Q q 0 0 0 rg BT 125.11 503.20 Td (company) Tj ET Q q 0 0 0 rg BT 161.11 503.20 Td (, ) Tj ET Q q 0 0 0 rg BT 166.11 503.20 Td (JJR ) Tj ET Q q 0 0 0 rg BT 182.89 503.20 Td (VI.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.20 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.22 486.20 Td (January18, ) Tj ET Q q 0 0 0 rg BT 114.32 486.20 Td (201) Tj ET Q q 0 0 0 rg BT 128.95 486.20 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.95 486.20 Td (, ) Tj ET Q q 0 0 0 rg BT 138.79 486.20 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 162.89 486.20 Td (granted ) Tj ET Q q 0 0 0 rg BT 195.88 486.20 Td (options ) Tj ET Q q 0 0 0 rg BT 228.33 486.20 Td (to ) Tj ET Q q 0 0 0 rg BT 239.10 486.20 Td (purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.64 486.20 Td (123,255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.14 486.20 Td ( ) Tj ET Q q 0 0 0 rg BT 313.14 486.20 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 350.02 486.20 Td (voting ) Tj ET Q q 0 0 0 rg BT 378.57 486.20 Td (common ) Tj ET Q q 0 0 0 rg BT 416.57 486.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 444.56 486.20 Td (of ) Tj ET Q q 0 0 0 rg BT 455.22 486.20 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 479.33 486.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 503.44 486.20 Td (to ) Tj ET Q q 0 0 0 rg BT 514.22 486.20 Td (of) Tj ET Q q 0 0 0 rg BT 522.37 486.20 Td (ficers ) Tj ET Q q 0 0 0 rg BT 547.57 486.20 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.20 Td (directors ) Tj ET Q q 0 0 0 rg BT 86.85 474.20 Td (at ) Tj ET Q q 0 0 0 rg BT 95.92 474.20 Td (an ) Tj ET Q q 0 0 0 rg BT 107.22 474.20 Td (exercise ) Tj ET Q q 0 0 0 rg BT 141.84 474.20 Td (price ) Tj ET Q q 0 0 0 rg BT 163.68 474.20 Td (of ) Tj ET Q q 0 0 0 rg BT 173.87 474.20 Td (C) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.54 474.20 Td ($6.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.04 474.20 Td ( ) Tj ET Q q 0 0 0 rg BT 204.90 474.20 Td (per ) Tj ET Q q 0 0 0 rg BT 219.53 474.20 Td (share. ) Tj ET Q q 0 0 0 rg BT 244.58 474.20 Td (All ) Tj ET Q q 0 0 0 rg BT 259.22 474.20 Td (of ) Tj ET Q q 0 0 0 rg BT 269.41 474.20 Td (these ) Tj ET Q q 0 0 0 rg BT 291.82 474.20 Td (options ) Tj ET Q q 0 0 0 rg BT 323.12 474.20 Td (were ) Tj ET Q q 0 0 0 rg BT 344.41 474.20 Td (fully ) Tj ET Q q 0 0 0 rg BT 365.16 474.20 Td (vested ) Tj ET Q q 0 0 0 rg BT 392.57 474.20 Td (upon ) Tj ET Q q 0 0 0 rg BT 414.43 474.20 Td (the ) Tj ET Q q 0 0 0 rg BT 428.51 474.20 Td (third ) Tj ET Q q 0 0 0 rg BT 449.25 474.20 Td (anniversary ) Tj ET Q q 0 0 0 rg BT 497.76 474.20 Td (of ) Tj ET Q q 0 0 0 rg BT 507.95 474.20 Td (their ) Tj ET Q q 0 0 0 rg BT 528.13 474.20 Td (issuance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.20 Td (and ) Tj ET Q q 0 0 0 rg BT 67.48 462.20 Td (expire ) Tj ET Q q 0 0 0 rg BT 95.50 462.20 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.54 462.20 Td (January18, ) Tj ET Q q 0 0 0 rg BT 157.67 462.20 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.67 462.20 Td (. ) Tj ET Q q 0 0 0 rg BT 183.21 462.20 Td ( ) Tj ET Q q 0 0 0 rg BT 186.25 462.20 Td (Using ) Tj ET Q q 0 0 0 rg BT 213.17 462.20 Td (the ) Tj ET Q q 0 0 0 rg BT 228.43 462.20 Td (Black-Scholes ) Tj ET Q q 0 0 0 rg BT 289.23 462.20 Td (option ) Tj ET Q q 0 0 0 rg BT 317.82 462.20 Td (pricing ) Tj ET Q q 0 0 0 rg BT 349.18 462.20 Td (model, ) Tj ET Q q 0 0 0 rg BT 379.72 462.20 Td (the ) Tj ET Q q 0 0 0 rg BT 394.97 462.20 Td (weighted ) Tj ET Q q 0 0 0 rg BT 434.66 462.20 Td (average ) Tj ET Q q 0 0 0 rg BT 468.78 462.20 Td (grant ) Tj ET Q q 0 0 0 rg BT 492.37 462.20 Td (date ) Tj ET Q q 0 0 0 rg BT 512.06 462.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 528.97 462.20 Td (value ) Tj ET Q q 0 0 0 rg BT 553.67 462.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 450.20 Td (these ) Tj ET Q q 0 0 0 rg BT 73.05 450.20 Td (options ) Tj ET Q q 0 0 0 rg BT 105.00 450.20 Td (is ) Tj ET Q q 0 0 0 rg BT 114.17 450.20 Td (C) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.83 450.20 Td ($3.72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.33 450.20 Td ( ) Tj ET Q q 0 0 0 rg BT 145.83 450.20 Td (per ) Tj ET Q q 0 0 0 rg BT 161.10 450.20 Td (share. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.20 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.03 433.20 Td (January1) Tj ET Q q 0 0 0 rg BT 103.26 433.20 Td (1, ) Tj ET Q q 0 0 0 rg BT 113.57 433.20 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.57 433.20 Td (, ) Tj ET Q q 0 0 0 rg BT 138.26 433.20 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 162.17 433.20 Td (granted ) Tj ET Q q 0 0 0 rg BT 194.97 433.20 Td (options ) Tj ET Q q 0 0 0 rg BT 227.23 433.20 Td (to ) Tj ET Q q 0 0 0 rg BT 237.81 433.20 Td (purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.16 433.20 Td (91,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.66 433.20 Td ( ) Tj ET Q q 0 0 0 rg BT 306.47 433.20 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 343.15 433.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 370.95 433.20 Td (of ) Tj ET Q q 0 0 0 rg BT 381.47 433.20 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 405.39 433.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 429.31 433.20 Td (to ) Tj ET Q q 0 0 0 rg BT 439.90 433.20 Td (of) Tj ET Q q 0 0 0 rg BT 448.04 433.20 Td (ficers ) Tj ET Q q 0 0 0 rg BT 473.06 433.20 Td (at ) Tj ET Q q 0 0 0 rg BT 483.09 433.20 Td (an ) Tj ET Q q 0 0 0 rg BT 495.33 433.20 Td (exercise ) Tj ET Q q 0 0 0 rg BT 530.90 433.20 Td (price ) Tj ET Q q 0 0 0 rg BT 553.69 433.20 Td (of ) Tj ET Q q 0 0 0 rg BT 564.52 433.20 Td ( ) Tj ET Q q 0 0 0 rg BT 567.02 433.20 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.20 Td (C$) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.67 421.20 Td (6.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.17 421.20 Td ( ) Tj ET Q q 0 0 0 rg BT 81.96 421.20 Td (per ) Tj ET Q q 0 0 0 rg BT 97.52 421.20 Td (share. ) Tj ET Q q 0 0 0 rg BT 123.71 421.20 Td (The ) Tj ET Q q 0 0 0 rg BT 142.05 421.20 Td (options ) Tj ET Q q 0 0 0 rg BT 174.30 421.20 Td (vest ) Tj ET Q q 0 0 0 rg BT 193.20 421.20 Td (equally ) Tj ET Q q 0 0 0 rg BT 225.42 421.20 Td (on ) Tj ET Q q 0 0 0 rg BT 238.22 421.20 Td (the ) Tj ET Q q 0 0 0 rg BT 253.23 421.20 Td (first, ) Tj ET Q q 0 0 0 rg BT 274.63 421.20 Td (second ) Tj ET Q q 0 0 0 rg BT 305.19 421.20 Td (and ) Tj ET Q q 0 0 0 rg BT 322.42 421.20 Td (third ) Tj ET Q q 0 0 0 rg BT 344.10 421.20 Td (anniversaries ) Tj ET Q q 0 0 0 rg BT 399.65 421.20 Td (of ) Tj ET Q q 0 0 0 rg BT 410.77 421.20 Td (the ) Tj ET Q q 0 0 0 rg BT 425.78 421.20 Td (grant ) Tj ET Q q 0 0 0 rg BT 449.12 421.20 Td (date. ) Tj ET Q q 0 0 0 rg BT 471.07 421.20 Td ( ) Tj ET Q q 0 0 0 rg BT 473.66 421.20 Td (The ) Tj ET Q q 0 0 0 rg BT 492.00 421.20 Td (options ) Tj ET Q q 0 0 0 rg BT 524.24 421.20 Td (expire ) Tj ET Q q 0 0 0 rg BT 552.02 421.20 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.20 Td (January1) Tj ET Q q 0 0 0 rg BT 88.23 409.20 Td (1, ) Tj ET Q q 0 0 0 rg BT 98.55 409.20 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.55 409.20 Td (. ) Tj ET Q q 0 0 0 rg BT 123.88 409.20 Td (Using ) Tj ET Q q 0 0 0 rg BT 150.59 409.20 Td (the ) Tj ET Q q 0 0 0 rg BT 165.63 409.20 Td (Black-Scholes ) Tj ET Q q 0 0 0 rg BT 226.22 409.20 Td (option ) Tj ET Q q 0 0 0 rg BT 254.60 409.20 Td (pricing ) Tj ET Q q 0 0 0 rg BT 285.75 409.20 Td (model, ) Tj ET Q q 0 0 0 rg BT 316.07 409.20 Td (the ) Tj ET Q q 0 0 0 rg BT 331.12 409.20 Td (weighted ) Tj ET Q q 0 0 0 rg BT 370.60 409.20 Td (average ) Tj ET Q q 0 0 0 rg BT 404.50 409.20 Td (grant ) Tj ET Q q 0 0 0 rg BT 427.88 409.20 Td (date ) Tj ET Q q 0 0 0 rg BT 447.36 409.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 464.06 409.20 Td (value ) Tj ET Q q 0 0 0 rg BT 488.54 409.20 Td (of ) Tj ET Q q 0 0 0 rg BT 499.69 409.20 Td (these ) Tj ET Q q 0 0 0 rg BT 523.06 409.20 Td (options ) Tj ET Q q 0 0 0 rg BT 555.34 409.20 Td (is ) Tj ET Q q 0 0 0 rg BT 564.51 409.20 Td ( ) Tj ET Q q 0 0 0 rg BT 567.01 409.20 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.20 Td (C) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.67 397.20 Td ($4.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.17 397.20 Td ( ) Tj ET Q q 0 0 0 rg BT 81.67 397.20 Td (per ) Tj ET Q q 0 0 0 rg BT 96.94 397.20 Td (share. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 380.20 Td (In ) Tj ET Q q 0 0 0 rg BT 60.75 380.20 Td (the ) Tj ET Q q 0 0 0 rg BT 75.38 380.20 Td (second ) Tj ET Q q 0 0 0 rg BT 105.57 380.20 Td (quarter ) Tj ET Q q 0 0 0 rg BT 136.30 380.20 Td (of ) Tj ET Q q 0 0 0 rg BT 147.05 380.20 Td (2013, ) Tj ET Q q 0 0 0 rg BT 171.97 380.20 Td (a ) Tj ET Q q 0 0 0 rg BT 178.83 380.20 Td (new ) Tj ET Q q 0 0 0 rg BT 197.91 380.20 Td (Equity ) Tj ET Q q 0 0 0 rg BT 226.99 380.20 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 266.61 380.20 Td (Plan ) Tj ET Q q 0 0 0 rg BT 286.81 380.20 Td (was ) Tj ET Q q 0 0 0 rg BT 304.78 380.20 Td (approved ) Tj ET Q q 0 0 0 rg BT 344.40 380.20 Td (by ) Tj ET Q q 0 0 0 rg BT 356.82 380.20 Td (the ) Tj ET Q q 0 0 0 rg BT 371.46 380.20 Td (Company's ) Tj ET Q q 0 0 0 rg BT 418.46 380.20 Td (common ) Tj ET Q q 0 0 0 rg BT 455.87 380.20 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 508.83 380.20 Td (at ) Tj ET Q q 0 0 0 rg BT 518.46 380.20 Td (the ) Tj ET Q q 0 0 0 rg BT 532.56 380.20 Td (Annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 368.20 Td (General ) Tj ET Q q 0 0 0 rg BT 84.07 368.20 Td (Meeting. ) Tj ET Q q 0 0 0 rg BT 121.78 368.20 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 145.31 368.20 Td (ceased ) Tj ET Q q 0 0 0 rg BT 174.37 368.20 Td (to ) Tj ET Q q 0 0 0 rg BT 184.57 368.20 Td (grant ) Tj ET Q q 0 0 0 rg BT 207.54 368.20 Td (new ) Tj ET Q q 0 0 0 rg BT 226.62 368.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 250.15 368.20 Td (options ) Tj ET Q q 0 0 0 rg BT 282.02 368.20 Td (under ) Tj ET Q q 0 0 0 rg BT 307.21 368.20 Td (the ) Tj ET Q q 0 0 0 rg BT 321.85 368.20 Td (preceding ) Tj ET Q q 0 0 0 rg BT 363.69 368.20 Td (Stock ) Tj ET Q q 0 0 0 rg BT 388.89 368.20 Td (Option ) Tj ET Q q 0 0 0 rg BT 419.09 368.20 Td (Plan. ) Tj ET Q q 0 0 0 rg BT 441.61 368.20 Td (The ) Tj ET Q q 0 0 0 rg BT 459.58 368.20 Td (Equity ) Tj ET Q q 0 0 0 rg BT 488.67 368.20 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 528.29 368.20 Td (Plan ) Tj ET Q q 0 0 0 rg BT 548.49 368.20 Td (is ) Tj ET Q q 0 0 0 rg BT 557.58 368.20 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 356.20 Td (new ) Tj ET Q q 0 0 0 rg BT 69.39 356.20 Td (securities ) Tj ET Q q 0 0 0 rg BT 109.88 356.20 Td (based ) Tj ET Q q 0 0 0 rg BT 135.37 356.20 Td (compensation ) Tj ET Q q 0 0 0 rg BT 193.64 356.20 Td (plan, ) Tj ET Q q 0 0 0 rg BT 216.08 356.20 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 253.25 356.20 Td (to ) Tj ET Q q 0 0 0 rg BT 263.75 356.20 Td (which ) Tj ET Q q 0 0 0 rg BT 290.31 356.20 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 314.15 356.20 Td (may ) Tj ET Q q 0 0 0 rg BT 334.09 356.20 Td (issue ) Tj ET Q q 0 0 0 rg BT 356.82 356.20 Td (restricted ) Tj ET Q q 0 0 0 rg BT 396.74 356.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 420.58 356.20 Td (grants ) Tj ET Q q 0 0 0 rg BT 447.74 356.20 Td (for ) Tj ET Q q 0 0 0 rg BT 462.13 356.20 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 498.73 356.20 Td (voting ) Tj ET Q q 0 0 0 rg BT 527.02 356.20 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 344.20 Td (shares, ) Tj ET Q q 0 0 0 rg BT 80.59 344.20 Td (restricted ) Tj ET Q q 0 0 0 rg BT 120.88 344.20 Td (units, ) Tj ET Q q 0 0 0 rg BT 145.93 344.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 170.13 344.20 Td (grants ) Tj ET Q q 0 0 0 rg BT 197.67 344.20 Td (for ) Tj ET Q q 0 0 0 rg BT 212.42 344.20 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 249.39 344.20 Td (voting ) Tj ET Q q 0 0 0 rg BT 278.05 344.20 Td (common ) Tj ET Q q 0 0 0 rg BT 316.14 344.20 Td (shares, ) Tj ET Q q 0 0 0 rg BT 346.72 344.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 370.93 344.20 Td (options ) Tj ET Q q 0 0 0 rg BT 403.47 344.20 Td (and ) Tj ET Q q 0 0 0 rg BT 421.01 344.20 Td (other ) Tj ET Q q 0 0 0 rg BT 444.65 344.20 Td (forms ) Tj ET Q q 0 0 0 rg BT 471.07 344.20 Td (of ) Tj ET Q q 0 0 0 rg BT 482.50 344.20 Td (equity ) Tj ET Q q 0 0 0 rg BT 510.59 344.20 Td (incentives ) Tj ET Q q 0 0 0 rg BT 554.23 344.20 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 332.20 Td (eligible ) Tj ET Q q 0 0 0 rg BT 81.88 332.20 Td (persons ) Tj ET Q q 0 0 0 rg BT 114.32 332.20 Td (as ) Tj ET Q q 0 0 0 rg BT 124.54 332.20 Td (part ) Tj ET Q q 0 0 0 rg BT 141.98 332.20 Td (of ) Tj ET Q q 0 0 0 rg BT 152.20 332.20 Td (their ) Tj ET Q q 0 0 0 rg BT 172.41 332.20 Td (compensation. ) Tj ET Q q 0 0 0 rg BT 232.21 332.20 Td (The ) Tj ET Q q 0 0 0 rg BT 249.64 332.20 Td (Equity ) Tj ET Q q 0 0 0 rg BT 278.20 332.20 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 317.29 332.20 Td (Plan ) Tj ET Q q 0 0 0 rg BT 336.96 332.20 Td (is ) Tj ET Q q 0 0 0 rg BT 345.52 332.20 Td (considered ) Tj ET Q q 0 0 0 rg BT 390.72 332.20 Td (an ) Tj ET Q q 0 0 0 rg BT 402.05 332.20 Td (amendment ) Tj ET Q q 0 0 0 rg BT 450.59 332.20 Td (and ) Tj ET Q q 0 0 0 rg BT 466.92 332.20 Td (restatement ) Tj ET Q q 0 0 0 rg BT 514.90 332.20 Td (of ) Tj ET Q q 0 0 0 rg BT 525.12 332.20 Td (the ) Tj ET Q q 0 0 0 rg BT 539.22 332.20 Td (Stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 320.20 Td (Option ) Tj ET Q q 0 0 0 rg BT 80.80 320.20 Td (Plan, ) Tj ET Q q 0 0 0 rg BT 104.09 320.20 Td (although ) Tj ET Q q 0 0 0 rg BT 142.10 320.20 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 191.79 320.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 215.91 320.20 Td (options ) Tj ET Q q 0 0 0 rg BT 248.38 320.20 Td (issued ) Tj ET Q q 0 0 0 rg BT 276.40 320.20 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 313.85 320.20 Td (to ) Tj ET Q q 0 0 0 rg BT 324.65 320.20 Td (the ) Tj ET Q q 0 0 0 rg BT 339.88 320.20 Td (Stock ) Tj ET Q q 0 0 0 rg BT 365.68 320.20 Td (Option ) Tj ET Q q 0 0 0 rg BT 396.47 320.20 Td (Plan ) Tj ET Q q 0 0 0 rg BT 417.27 320.20 Td (will ) Tj ET Q q 0 0 0 rg BT 435.84 320.20 Td (continue ) Tj ET Q q 0 0 0 rg BT 473.30 320.20 Td (to ) Tj ET Q q 0 0 0 rg BT 484.09 320.20 Td (be ) Tj ET Q q 0 0 0 rg BT 496.55 320.20 Td (governed ) Tj ET Q q 0 0 0 rg BT 536.77 320.20 Td (by ) Tj ET Q q 0 0 0 rg BT 549.79 320.20 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.20 Td (terms ) Tj ET Q q 0 0 0 rg BT 74.72 308.20 Td (of ) Tj ET Q q 0 0 0 rg BT 85.55 308.20 Td (the ) Tj ET Q q 0 0 0 rg BT 100.26 308.20 Td (Stock ) Tj ET Q q 0 0 0 rg BT 125.54 308.20 Td (Option ) Tj ET Q q 0 0 0 rg BT 155.82 308.20 Td (Plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 291.20 Td (Under ) Tj ET Q q 0 0 0 rg BT 77.88 291.20 Td (the ) Tj ET Q q 0 0 0 rg BT 93.00 291.20 Td (Equity ) Tj ET Q q 0 0 0 rg BT 122.56 291.20 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 162.65 291.20 Td (Plan, ) Tj ET Q q 0 0 0 rg BT 185.83 291.20 Td (a ) Tj ET Q q 0 0 0 rg BT 193.16 291.20 Td (director ) Tj ET Q q 0 0 0 rg BT 227.15 291.20 Td (who ) Tj ET Q q 0 0 0 rg BT 247.26 291.20 Td (either ) Tj ET Q q 0 0 0 rg BT 272.92 291.20 Td (directly ) Tj ET Q q 0 0 0 rg BT 306.36 291.20 Td (or ) Tj ET Q q 0 0 0 rg BT 317.58 291.20 Td (indirectly ) Tj ET Q q 0 0 0 rg BT 358.80 291.20 Td (purchases ) Tj ET Q q 0 0 0 rg BT 401.12 291.20 Td (up ) Tj ET Q q 0 0 0 rg BT 414.01 291.20 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.69 291.20 Td ($100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.19 291.20 Td ( ) Tj ET Q q 0 0 0 rg BT 465.08 291.20 Td (of ) Tj ET Q q 0 0 0 rg BT 475.67 291.20 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 499.67 291.20 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 536.44 291.20 Td (voting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 279.20 Td (common ) Tj ET Q q 0 0 0 rg BT 87.30 279.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 110.71 279.20 Td (on ) Tj ET Q q 0 0 0 rg BT 123.01 279.20 Td (the ) Tj ET Q q 0 0 0 rg BT 137.54 279.20 Td (open ) Tj ET Q q 0 0 0 rg BT 159.28 279.20 Td (market, ) Tj ET Q q 0 0 0 rg BT 191.84 279.20 Td (through ) Tj ET Q q 0 0 0 rg BT 225.26 279.20 Td (the ) Tj ET Q q 0 0 0 rg BT 239.78 279.20 Td (employee ) Tj ET Q q 0 0 0 rg BT 280.95 279.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 304.37 279.20 Td (purchase ) Tj ET Q q 0 0 0 rg BT 342.21 279.20 Td (plan, ) Tj ET Q q 0 0 0 rg BT 364.23 279.20 Td (or ) Tj ET Q q 0 0 0 rg BT 374.86 279.20 Td (via ) Tj ET Q q 0 0 0 rg BT 389.38 279.20 Td (other ) Tj ET Q q 0 0 0 rg BT 412.23 279.20 Td (means ) Tj ET Q q 0 0 0 rg BT 440.08 279.20 Td (acceptable ) Tj ET Q q 0 0 0 rg BT 484.57 279.20 Td (under ) Tj ET Q q 0 0 0 rg BT 509.65 279.20 Td (this ) Tj ET Q q 0 0 0 rg BT 526.40 279.20 Td (plan ) Tj ET Q q 0 0 0 rg BT 545.92 279.20 Td (\(see ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 267.20 Td (Note ) Tj ET Q q 0 0 0 rg BT 72.85 267.20 Td (13\) ) Tj ET Q q 0 0 0 rg BT 89.59 267.20 Td (will ) Tj ET Q q 0 0 0 rg BT 108.55 267.20 Td (receive ) Tj ET Q q 0 0 0 rg BT 140.83 267.20 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.67 267.20 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.67 267.20 Td ( ) Tj ET Q q 0 0 0 rg BT 157.08 267.20 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.27 267.20 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.27 267.20 Td ( ) Tj ET Q q 0 0 0 rg BT 176.68 267.20 Td (matching ) Tj ET Q q 0 0 0 rg BT 217.30 267.20 Td (grant ) Tj ET Q q 0 0 0 rg BT 241.26 267.20 Td (of ) Tj ET Q q 0 0 0 rg BT 253.00 267.20 Td (restricted ) Tj ET Q q 0 0 0 rg BT 293.61 267.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 318.13 267.20 Td (grants ) Tj ET Q q 0 0 0 rg BT 345.98 267.20 Td (for ) Tj ET Q q 0 0 0 rg BT 361.05 267.20 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 398.33 267.20 Td (voting ) Tj ET Q q 0 0 0 rg BT 427.30 267.20 Td (common ) Tj ET Q q 0 0 0 rg BT 465.71 267.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 494.10 267.20 Td (\(or ) Tj ET Q q 0 0 0 rg BT 509.17 267.20 Td (for ) Tj ET Q q 0 0 0 rg BT 524.24 267.20 Td (Canadian ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 255.20 Td (taxpayers, ) Tj ET Q q 0 0 0 rg BT 93.12 255.20 Td (restricted ) Tj ET Q q 0 0 0 rg BT 132.62 255.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 156.03 255.20 Td (units\) ) Tj ET Q q 0 0 0 rg BT 181.11 255.20 Td (based ) Tj ET Q q 0 0 0 rg BT 206.18 255.20 Td (on ) Tj ET Q q 0 0 0 rg BT 218.49 255.20 Td (the ) Tj ET Q q 0 0 0 rg BT 233.01 255.20 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 274.17 255.20 Td (purchase ) Tj ET Q q 0 0 0 rg BT 312.01 255.20 Td (price ) Tj ET Q q 0 0 0 rg BT 334.30 255.20 Td (of ) Tj ET Q q 0 0 0 rg BT 344.93 255.20 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 381.11 255.20 Td (voting ) Tj ET Q q 0 0 0 rg BT 408.97 255.20 Td (common ) Tj ET Q q 0 0 0 rg BT 446.26 255.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 473.56 255.20 Td (the ) Tj ET Q q 0 0 0 rg BT 488.08 255.20 Td (director ) Tj ET Q q 0 0 0 rg BT 521.47 255.20 Td (purchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 243.20 Td (during ) Tj ET Q q 0 0 0 rg BT 78.34 243.20 Td (the ) Tj ET Q q 0 0 0 rg BT 92.79 243.20 Td (six-month ) Tj ET Q q 0 0 0 rg BT 135.57 243.20 Td (period ) Tj ET Q q 0 0 0 rg BT 163.35 243.20 Td (beginning ) Tj ET Q q 0 0 0 rg BT 205.58 243.20 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.81 243.20 Td (June18, ) Tj ET Q q 0 0 0 rg BT 253.37 243.20 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.37 243.20 Td ( ) Tj ET Q q 0 0 0 rg BT 275.60 243.20 Td (and ) Tj ET Q q 0 0 0 rg BT 292.27 243.20 Td (ending ) Tj ET Q q 0 0 0 rg BT 321.71 243.20 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.94 243.20 Td (December31, ) Tj ET Q q 0 0 0 rg BT 392.26 243.20 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.26 243.20 Td (, ) Tj ET Q q 0 0 0 rg BT 416.99 243.20 Td (or ) Tj ET Q q 0 0 0 rg BT 427.55 243.20 Td (for ) Tj ET Q q 0 0 0 rg BT 441.44 243.20 Td (new ) Tj ET Q q 0 0 0 rg BT 460.33 243.20 Td (directors ) Tj ET Q q 0 0 0 rg BT 497.55 243.20 Td (within ) Tj ET Q q 0 0 0 rg BT 525.33 243.20 Td (6 ) Tj ET Q q 0 0 0 rg BT 532.56 243.20 Td (months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 231.20 Td (of ) Tj ET Q q 0 0 0 rg BT 61.10 231.20 Td (their ) Tj ET Q q 0 0 0 rg BT 82.21 231.20 Td (initial ) Tj ET Q q 0 0 0 rg BT 108.31 231.20 Td (appointment ) Tj ET Q q 0 0 0 rg BT 161.08 231.20 Td (date ) Tj ET Q q 0 0 0 rg BT 180.51 231.20 Td (\(the ) Tj ET Q q 0 0 0 rg BT 198.83 231.20 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 242.14 231.20 Td (Period\). ) Tj ET Q q 0 0 0 rg BT 281.29 231.20 Td ( ) Tj ET Q q 0 0 0 rg BT 284.07 231.20 Td (Matching ) Tj ET Q q 0 0 0 rg BT 325.17 231.20 Td (share ) Tj ET Q q 0 0 0 rg BT 349.04 231.20 Td (grants ) Tj ET Q q 0 0 0 rg BT 376.25 231.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.36 231.20 Td (148,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.86 231.20 Td ( ) Tj ET Q q 0 0 0 rg BT 422.63 231.20 Td (restricted ) Tj ET Q q 0 0 0 rg BT 462.61 231.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 486.49 231.20 Td (grants ) Tj ET Q q 0 0 0 rg BT 513.71 231.20 Td (for ) Tj ET Q q 0 0 0 rg BT 528.14 231.20 Td (ordinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 219.20 Td (voting ) Tj ET Q q 0 0 0 rg BT 78.81 219.20 Td (common ) Tj ET Q q 0 0 0 rg BT 117.05 219.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 145.29 219.20 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.98 219.20 Td (37,038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.48 219.20 Td ( ) Tj ET Q q 0 0 0 rg BT 193.73 219.20 Td (restricted ) Tj ET Q q 0 0 0 rg BT 234.18 219.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 258.54 219.20 Td (units ) Tj ET Q q 0 0 0 rg BT 281.24 219.20 Td (were ) Tj ET Q q 0 0 0 rg BT 303.91 219.20 Td (made ) Tj ET Q q 0 0 0 rg BT 328.82 219.20 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.07 219.20 Td (February28, ) Tj ET Q q 0 0 0 rg BT 396.42 219.20 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.42 219.20 Td ( ) Tj ET Q q 0 0 0 rg BT 419.67 219.20 Td (\(the ) Tj ET Q q 0 0 0 rg BT 438.46 219.20 Td (Grant ) Tj ET Q q 0 0 0 rg BT 468.92 219.20 Td (Date\). ) Tj ET Q q 0 0 0 rg BT 501.08 219.20 Td (The ) Tj ET Q q 0 0 0 rg BT 519.88 219.20 Td (number ) Tj ET Q q 0 0 0 rg BT 553.67 219.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 207.20 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 86.88 207.20 Td (voting ) Tj ET Q q 0 0 0 rg BT 115.45 207.20 Td (common ) Tj ET Q q 0 0 0 rg BT 153.45 207.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 181.45 207.20 Td (issued ) Tj ET Q q 0 0 0 rg BT 209.45 207.20 Td (on ) Tj ET Q q 0 0 0 rg BT 222.46 207.20 Td (the ) Tj ET Q q 0 0 0 rg BT 237.68 207.20 Td (Grant ) Tj ET Q q 0 0 0 rg BT 263.46 207.20 Td (Date ) Tj ET Q q 0 0 0 rg BT 285.34 207.20 Td (were ) Tj ET Q q 0 0 0 rg BT 307.78 207.20 Td (determined ) Tj ET Q q 0 0 0 rg BT 355.77 207.20 Td (by ) Tj ET Q q 0 0 0 rg BT 368.77 207.20 Td (dividing ) Tj ET Q q 0 0 0 rg BT 405.11 207.20 Td (\(A\) ) Tj ET Q q 0 0 0 rg BT 422.00 207.20 Td (the ) Tj ET Q q 0 0 0 rg BT 437.23 207.20 Td (dollar ) Tj ET Q q 0 0 0 rg BT 463.56 207.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 496.56 207.20 Td (of ) Tj ET Q q 0 0 0 rg BT 507.90 207.20 Td (the ) Tj ET Q q 0 0 0 rg BT 523.12 207.20 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.20 Td (matching ) Tj ET Q q 0 0 0 rg BT 89.51 195.20 Td (contribution ) Tj ET Q q 0 0 0 rg BT 140.70 195.20 Td (due ) Tj ET Q q 0 0 0 rg BT 157.44 195.20 Td (based ) Tj ET Q q 0 0 0 rg BT 182.51 195.20 Td (on ) Tj ET Q q 0 0 0 rg BT 194.81 195.20 Td (purchases ) Tj ET Q q 0 0 0 rg BT 236.54 195.20 Td (during ) Tj ET Q q 0 0 0 rg BT 264.95 195.20 Td (the ) Tj ET Q q 0 0 0 rg BT 279.47 195.20 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 317.87 195.20 Td (Period ) Tj ET Q q 0 0 0 rg BT 346.28 195.20 Td (by ) Tj ET Q q 0 0 0 rg BT 358.59 195.20 Td (\(B\) ) Tj ET Q q 0 0 0 rg BT 374.22 195.20 Td (the ) Tj ET Q q 0 0 0 rg BT 388.74 195.20 Td (closing ) Tj ET Q q 0 0 0 rg BT 419.93 195.20 Td (common ) Tj ET Q q 0 0 0 rg BT 457.22 195.20 Td (share ) Tj ET Q q 0 0 0 rg BT 480.63 195.20 Td (price ) Tj ET Q q 0 0 0 rg BT 502.91 195.20 Td (of ) Tj ET Q q 0 0 0 rg BT 513.54 195.20 Td (one ) Tj ET Q q 0 0 0 rg BT 530.29 195.20 Td (share ) Tj ET Q q 0 0 0 rg BT 553.69 195.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 183.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.63 183.20 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 128.25 183.20 Td (voting ) Tj ET Q q 0 0 0 rg BT 156.55 183.20 Td (common ) Tj ET Q q 0 0 0 rg BT 194.29 183.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 218.14 183.20 Td (at ) Tj ET Q q 0 0 0 rg BT 228.10 183.20 Td (close ) Tj ET Q q 0 0 0 rg BT 251.39 183.20 Td (of ) Tj ET Q q 0 0 0 rg BT 262.46 183.20 Td (market ) Tj ET Q q 0 0 0 rg BT 292.97 183.20 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.71 183.20 Td (June17, ) Tj ET Q q 0 0 0 rg BT 341.79 183.20 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.79 183.20 Td ( ) Tj ET Q q 0 0 0 rg BT 364.53 183.20 Td (\(the ) Tj ET Q q 0 0 0 rg BT 382.82 183.20 Td (Closing ) Tj ET Q q 0 0 0 rg BT 421.12 183.20 Td (Price\) ) Tj ET Q q 0 0 0 rg BT 452.18 183.20 Td (which ) Tj ET Q q 0 0 0 rg BT 479.36 183.20 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.65 183.20 Td ($8.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.15 183.20 Td ( ) Tj ET Q q 0 0 0 rg BT 522.90 183.20 Td (per ) Tj ET Q q 0 0 0 rg BT 538.41 183.20 Td (share. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 171.20 Td (The ) Tj ET Q q 0 0 0 rg BT 68.39 171.20 Td (restricted ) Tj ET Q q 0 0 0 rg BT 108.44 171.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 132.39 171.20 Td (grants ) Tj ET Q q 0 0 0 rg BT 159.67 171.20 Td (for ) Tj ET Q q 0 0 0 rg BT 174.18 171.20 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 210.90 171.20 Td (voting ) Tj ET Q q 0 0 0 rg BT 239.30 171.20 Td (common ) Tj ET Q q 0 0 0 rg BT 277.14 171.20 Td (shares ) Tj ET Q q 0 0 0 rg BT 304.97 171.20 Td (will ) Tj ET Q q 0 0 0 rg BT 323.37 171.20 Td (vest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.33 171.20 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.66 171.20 Td ( ) Tj ET Q q 0 0 0 rg BT 363.50 171.20 Td (on ) Tj ET Q q 0 0 0 rg BT 376.35 171.20 Td (each ) Tj ET Q q 0 0 0 rg BT 397.50 171.20 Td (anniversary ) Tj ET Q q 0 0 0 rg BT 446.99 171.20 Td (of ) Tj ET Q q 0 0 0 rg BT 458.17 171.20 Td (the ) Tj ET Q q 0 0 0 rg BT 473.23 171.20 Td (Grant ) Tj ET Q q 0 0 0 rg BT 498.84 171.20 Td (Date, ) Tj ET Q q 0 0 0 rg BT 523.06 171.20 Td (subject ) Tj ET Q q 0 0 0 rg BT 554.23 171.20 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 159.20 Td (the ) Tj ET Q q 0 0 0 rg BT 64.45 159.20 Td (terms ) Tj ET Q q 0 0 0 rg BT 88.91 159.20 Td (of ) Tj ET Q q 0 0 0 rg BT 99.48 159.20 Td (the ) Tj ET Q q 0 0 0 rg BT 113.93 159.20 Td (Guidelines. ) Tj ET Q q 0 0 0 rg BT 161.83 159.20 Td (The ) Tj ET Q q 0 0 0 rg BT 179.62 159.20 Td (matching ) Tj ET Q q 0 0 0 rg BT 219.07 159.20 Td (grant ) Tj ET Q q 0 0 0 rg BT 241.85 159.20 Td (will ) Tj ET Q q 0 0 0 rg BT 259.65 159.20 Td (be ) Tj ET Q q 0 0 0 rg BT 271.32 159.20 Td (subject ) Tj ET Q q 0 0 0 rg BT 301.89 159.20 Td (to ) Tj ET Q q 0 0 0 rg BT 311.90 159.20 Td (all ) Tj ET Q q 0 0 0 rg BT 324.13 159.20 Td (of ) Tj ET Q q 0 0 0 rg BT 334.70 159.20 Td (the ) Tj ET Q q 0 0 0 rg BT 349.16 159.20 Td (terms ) Tj ET Q q 0 0 0 rg BT 373.61 159.20 Td (and ) Tj ET Q q 0 0 0 rg BT 390.29 159.20 Td (conditions ) Tj ET Q q 0 0 0 rg BT 434.19 159.20 Td (of ) Tj ET Q q 0 0 0 rg BT 444.76 159.20 Td (the ) Tj ET Q q 0 0 0 rg BT 459.21 159.20 Td (Equity ) Tj ET Q q 0 0 0 rg BT 488.12 159.20 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 527.56 159.20 Td (Plan ) Tj ET Q q 0 0 0 rg BT 547.57 159.20 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 147.20 Td (applicable ) Tj ET Q q 0 0 0 rg BT 93.97 147.20 Td (grant ) Tj ET Q q 0 0 0 rg BT 117.41 147.20 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 168.32 147.20 Td ( ) Tj ET Q q 0 0 0 rg BT 171.00 147.20 Td (The ) Tj ET Q q 0 0 0 rg BT 189.43 147.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 231.20 147.20 Td (will ) Tj ET Q q 0 0 0 rg BT 249.64 147.20 Td (incur ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.07 147.20 Td ($38,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.57 147.20 Td ( ) Tj ET Q q 0 0 0 rg BT 308.46 147.20 Td (of ) Tj ET Q q 0 0 0 rg BT 319.67 147.20 Td (compensation ) Tj ET Q q 0 0 0 rg BT 378.10 147.20 Td (expense ) Tj ET Q q 0 0 0 rg BT 413.19 147.20 Td (per ) Tj ET Q q 0 0 0 rg BT 428.85 147.20 Td (month ) Tj ET Q q 0 0 0 rg BT 457.29 147.20 Td (relating ) Tj ET Q q 0 0 0 rg BT 490.71 147.20 Td (to ) Tj ET Q q 0 0 0 rg BT 501.38 147.20 Td (these ) Tj ET Q q 0 0 0 rg BT 524.81 147.20 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 135.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 73.61 135.20 Td (grants. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 111.20 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.65 111.20 Td (March6, ) Tj ET Q q 0 0 0 rg BT 105.17 111.20 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.17 111.20 Td (, ) Tj ET Q q 0 0 0 rg BT 130.34 111.20 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 154.88 111.20 Td (granted ) Tj ET Q q 0 0 0 rg BT 188.29 111.20 Td (to ) Tj ET Q q 0 0 0 rg BT 199.50 111.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 230.13 111.20 Td (executive ) Tj ET Q q 0 0 0 rg BT 271.86 111.20 Td (of) Tj ET Q q 0 0 0 rg BT 280.01 111.20 Td (ficers ) Tj ET Q q 0 0 0 rg BT 305.65 111.20 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 318.51 111.20 Td (stock ) Tj ET Q q 0 0 0 rg BT 343.05 111.20 Td (options ) Tj ET Q q 0 0 0 rg BT 375.92 111.20 Td (to ) Tj ET Q q 0 0 0 rg BT 387.13 111.20 Td (purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.09 111.20 Td (175,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.59 111.20 Td ( ) Tj ET Q q 0 0 0 rg BT 462.02 111.20 Td (common ) Tj ET Q q 0 0 0 rg BT 500.44 111.20 Td (shares, ) Tj ET Q q 0 0 0 rg BT 531.36 111.20 Td (with ) Tj ET Q q 0 0 0 rg BT 552.56 111.20 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 99.20 Td (exercise ) Tj ET Q q 0 0 0 rg BT 84.85 99.20 Td (price ) Tj ET Q q 0 0 0 rg BT 106.93 99.20 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.36 99.20 Td ($13.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.86 99.20 Td ( ) Tj ET Q q 0 0 0 rg BT 146.95 99.20 Td (and ) Tj ET Q q 0 0 0 rg BT 163.49 99.20 Td (vest ) Tj ET Q q 0 0 0 rg BT 181.69 99.20 Td (equally ) Tj ET Q q 0 0 0 rg BT 213.22 99.20 Td (on ) Tj ET Q q 0 0 0 rg BT 225.32 99.20 Td (the ) Tj ET Q q 0 0 0 rg BT 239.63 99.20 Td (next ) Tj ET Q q 0 0 0 rg BT 258.95 99.20 Td (three ) Tj ET Q q 0 0 0 rg BT 281.03 99.20 Td (anniversaries ) Tj ET Q q 0 0 0 rg BT 335.88 99.20 Td (of ) Tj ET Q q 0 0 0 rg BT 346.30 99.20 Td (the ) Tj ET Q q 0 0 0 rg BT 360.62 99.20 Td (grant ) Tj ET Q q 0 0 0 rg BT 383.26 99.20 Td (date ) Tj ET Q q 0 0 0 rg BT 402.01 99.20 Td (and ) Tj ET Q q 0 0 0 rg BT 418.55 99.20 Td (\(ii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.86 99.20 Td (37,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.36 99.20 Td ( ) Tj ET Q q 0 0 0 rg BT 462.45 99.20 Td (fully-vested, ) Tj ET Q q 0 0 0 rg BT 514.81 99.20 Td (unrestricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 87.20 Td (common ) Tj ET Q q 0 0 0 rg BT 88.10 87.20 Td (shares. ) Tj ET Q q 0 0 0 rg BT 118.70 87.20 Td ( ) Tj ET Q q 0 0 0 rg BT 121.59 87.20 Td (The ) Tj ET Q q 0 0 0 rg BT 140.24 87.20 Td (options ) Tj ET Q q 0 0 0 rg BT 172.80 87.20 Td (expire ) Tj ET Q q 0 0 0 rg BT 200.90 87.20 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.01 87.20 Td (March6, ) Tj ET Q q 0 0 0 rg BT 253.21 87.20 Td (2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.21 87.20 Td ( ) Tj ET Q q 0 0 0 rg BT 276.32 87.20 Td (. ) Tj ET Q q 0 0 0 rg BT 281.93 87.20 Td (Using ) Tj ET Q q 0 0 0 rg BT 308.93 87.20 Td (the ) Tj ET Q q 0 0 0 rg BT 324.26 87.20 Td (Black-Scholes ) Tj ET Q q 0 0 0 rg BT 385.13 87.20 Td (option ) Tj ET Q q 0 0 0 rg BT 413.80 87.20 Td (pricing ) Tj ET Q q 0 0 0 rg BT 445.23 87.20 Td (model, ) Tj ET Q q 0 0 0 rg BT 475.84 87.20 Td (the ) Tj ET Q q 0 0 0 rg BT 491.16 87.20 Td (weighted ) Tj ET Q q 0 0 0 rg BT 530.93 87.20 Td (average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 75.20 Td (grant ) Tj ET Q q 0 0 0 rg BT 73.05 75.20 Td (date ) Tj ET Q q 0 0 0 rg BT 92.20 75.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 108.58 75.20 Td (value ) Tj ET Q q 0 0 0 rg BT 132.73 75.20 Td (of ) Tj ET Q q 0 0 0 rg BT 143.56 75.20 Td (these ) Tj ET Q q 0 0 0 rg BT 166.61 75.20 Td (options ) Tj ET Q q 0 0 0 rg BT 198.56 75.20 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.73 75.20 Td ($7.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.23 75.20 Td ( ) Tj ET Q q 0 0 0 rg BT 232.73 75.20 Td (per ) Tj ET Q q 0 0 0 rg BT 248.00 75.20 Td (share. ) Tj ET Q q 0 0 0 rg BT 273.92 75.20 Td (These ) Tj ET Q q 0 0 0 rg BT 300.29 75.20 Td (grants ) Tj ET Q q 0 0 0 rg BT 327.23 75.20 Td (were ) Tj ET Q q 0 0 0 rg BT 349.16 75.20 Td (made ) Tj ET Q q 0 0 0 rg BT 373.32 75.20 Td (under ) Tj ET Q q 0 0 0 rg BT 398.58 75.20 Td (the ) Tj ET Q q 0 0 0 rg BT 413.30 75.20 Td (Company's ) Tj ET Q q 0 0 0 rg BT 460.38 75.20 Td (Equity ) Tj ET Q q 0 0 0 rg BT 489.55 75.20 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 529.25 75.20 Td (Plan. ) Tj ET Q endstream endobj 149 0 obj <> endobj 150 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 69.56 742.10 Td (Black-Scholes ) Tj ET Q q 0 0 0 rg BT 131.34 742.10 Td (option ) Tj ET Q q 0 0 0 rg BT 160.91 742.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 193.25 742.10 Td (model ) Tj ET Q q 0 0 0 rg BT 222.26 742.10 Td (was ) Tj ET Q q 0 0 0 rg BT 241.82 742.10 Td (used ) Tj ET Q q 0 0 0 rg BT 264.17 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 275.96 742.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 313.29 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 329.52 742.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 347.41 742.10 Td (value ) Tj ET Q q 0 0 0 rg BT 373.08 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 385.42 742.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 444.98 742.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 481.20 742.10 Td (using ) Tj ET Q q 0 0 0 rg BT 506.88 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.12 742.10 Td (following ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 101.55 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 108.65 730.10 Td (risk-free ) Tj ET Q q 0 0 0 rg BT 144.62 730.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 176.16 730.10 Td (rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.24 730.10 Td (1.88%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.07 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 221.18 730.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.06 730.10 Td (3.18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.89 730.10 Td (; ) Tj ET Q q 0 0 0 rg BT 261.77 730.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 298.86 730.10 Td (yield ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.96 730.10 Td (0.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.79 730.10 Td (; ) Tj ET Q q 0 0 0 rg BT 351.67 730.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 389.31 730.10 Td (volatility ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.52 730.10 Td (38.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.35 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 460.45 730.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.33 730.10 Td (100.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.16 730.10 Td (; ) Tj ET Q q 0 0 0 rg BT 511.04 730.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 548.67 730.10 Td (life ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 718.10 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.83 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 68.33 718.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.61 718.10 Td (10 ) Tj ET Q q 0 0 0 rg BT 91.11 718.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.21 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 114.71 718.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 701.10 Td (In ) Tj ET Q q 0 0 0 rg BT 61.01 701.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 108.66 701.10 Td (with ) Tj ET Q q 0 0 0 rg BT 128.53 701.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 150.67 701.10 Td (718 ) Tj ET Q q 0 0 0 rg BT 168.35 701.10 Td (\(Stock-Based ) Tj ET Q q 0 0 0 rg BT 224.91 701.10 Td (Compensation\), ) Tj ET Q q 0 0 0 rg BT 290.61 701.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 314.40 701.10 Td (has ) Tj ET Q q 0 0 0 rg BT 330.42 701.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 376.96 701.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 400.76 701.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 458.98 701.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 493.88 701.10 Td (on ) Tj ET Q q 0 0 0 rg BT 506.56 701.10 Td (a ) Tj ET Q q 0 0 0 rg BT 513.68 701.10 Td (straight-line ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 689.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 73.42 689.10 Td (over ) Tj ET Q q 0 0 0 rg BT 94.61 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 110.25 689.10 Td (requisite ) Tj ET Q q 0 0 0 rg BT 148.11 689.10 Td (service ) Tj ET Q q 0 0 0 rg BT 179.85 689.10 Td (period ) Tj ET Q q 0 0 0 rg BT 208.82 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 220.57 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 236.21 689.10 Td (last ) Tj ET Q q 0 0 0 rg BT 253.52 689.10 Td (separately ) Tj ET Q q 0 0 0 rg BT 297.48 689.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 329.79 689.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 362.09 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 373.85 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 389.49 689.10 Td (award. ) Tj ET Q q 0 0 0 rg BT 419.84 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 422.51 689.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 447.04 689.10 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.32 689.10 Td ($1.5 ) Tj ET Q q 0 0 0 rg BT 515.25 689.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.14 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 547.56 689.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 677.10 Td ($247,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.50 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 90.19 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 100.65 677.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 124.45 677.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 182.68 677.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 217.57 677.10 Td (for ) Tj ET Q q 0 0 0 rg BT 231.92 677.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.82 677.10 Td (years ) Tj ET Q q 0 0 0 rg BT 270.61 677.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 297.17 677.10 Td (December ) Tj ET Q q 0 0 0 rg BT 340.94 677.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 356.13 677.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 378.82 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 395.94 677.10 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.94 677.10 Td (, ) Tj ET Q q 0 0 0 rg BT 421.13 677.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 468.79 677.10 Td (, ) Tj ET Q q 0 0 0 rg BT 473.98 677.10 Td (which ) Tj ET Q q 0 0 0 rg BT 501.10 677.10 Td (is ) Tj ET Q q 0 0 0 rg BT 510.46 677.10 Td (a ) Tj ET Q q 0 0 0 rg BT 517.58 677.10 Td (component ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.42 665.10 Td (other ) Tj ET Q q 0 0 0 rg BT 85.06 665.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 139.81 665.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 179.00 665.10 Td (on ) Tj ET Q q 0 0 0 rg BT 192.09 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 207.40 665.10 Td (income ) Tj ET Q q 0 0 0 rg BT 239.93 665.10 Td (statement. ) Tj ET Q q 0 0 0 rg BT 283.62 665.10 Td (T) Tj ET Q q 0 0 0 rg BT 289.03 665.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 307.11 665.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 364.07 665.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 388.27 665.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 446.90 665.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 482.20 665.10 Td (related ) Tj ET Q q 0 0 0 rg BT 512.50 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 523.37 665.10 Td (all ) Tj ET Q q 0 0 0 rg BT 536.46 665.10 Td (option ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 653.10 Td (grants ) Tj ET Q q 0 0 0 rg BT 76.94 653.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.11 653.10 Td ($2.0 ) Tj ET Q q 0 0 0 rg BT 106.11 653.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 653.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.50 653.10 Td (as ) Tj ET Q q 0 0 0 rg BT 148.33 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 159.16 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 173.88 653.10 Td (year ) Tj ET Q q 0 0 0 rg BT 193.58 653.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 219.96 653.10 Td (December ) Tj ET Q q 0 0 0 rg BT 263.54 653.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 278.54 653.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.54 653.10 Td (, ) Tj ET Q q 0 0 0 rg BT 303.54 653.10 Td (which ) Tj ET Q q 0 0 0 rg BT 330.48 653.10 Td (will ) Tj ET Q q 0 0 0 rg BT 348.54 653.10 Td (be ) Tj ET Q q 0 0 0 rg BT 360.48 653.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 406.84 653.10 Td (over ) Tj ET Q q 0 0 0 rg BT 427.11 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 441.83 653.10 Td (next ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.54 653.10 Td (50 ) Tj ET Q q 0 0 0 rg BT 474.04 653.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.49 653.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 636.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.78 636.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 106.67 636.10 Td (average ) Tj ET Q q 0 0 0 rg BT 139.99 636.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 174.98 636.10 Td (price ) Tj ET Q q 0 0 0 rg BT 197.20 636.10 Td (of ) Tj ET Q q 0 0 0 rg BT 207.77 636.10 Td (all ) Tj ET Q q 0 0 0 rg BT 220.00 636.10 Td (the ) Tj ET Q q 0 0 0 rg BT 234.45 636.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 261.68 636.10 Td (exercisable ) Tj ET Q q 0 0 0 rg BT 308.88 636.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.33 636.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 376.65 636.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 636.10 Td ( ) Tj ET Q q 0 0 0 rg BT 398.89 636.10 Td (is ) Tj ET Q q 0 0 0 rg BT 407.79 636.10 Td (C) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.46 636.10 Td ($6.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.96 636.10 Td ( ) Tj ET Q q 0 0 0 rg BT 439.20 636.10 Td (on ) Tj ET Q q 0 0 0 rg BT 451.43 636.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 500.33 636.10 Td (options ) Tj ET Q q 0 0 0 rg BT 532.02 636.10 Td (granted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 624.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 71.68 624.10 Td (to ) Tj ET Q q 0 0 0 rg BT 81.70 624.10 Td (December ) Tj ET Q q 0 0 0 rg BT 125.03 624.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 139.78 624.10 Td (2013. ) Tj ET Q q 0 0 0 rg BT 164.36 624.10 Td (The ) Tj ET Q q 0 0 0 rg BT 182.15 624.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 221.05 624.10 Td (average ) Tj ET Q q 0 0 0 rg BT 254.37 624.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 289.37 624.10 Td (price ) Tj ET Q q 0 0 0 rg BT 311.60 624.10 Td (of ) Tj ET Q q 0 0 0 rg BT 322.17 624.10 Td (all ) Tj ET Q q 0 0 0 rg BT 334.41 624.10 Td (the ) Tj ET Q q 0 0 0 rg BT 348.87 624.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 376.11 624.10 Td (exercisable ) Tj ET Q q 0 0 0 rg BT 423.32 624.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.78 624.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 491.11 624.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.11 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 513.35 624.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.27 624.10 Td ($13.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.77 624.10 Td ( ) Tj ET Q q 0 0 0 rg BT 552.01 624.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 612.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 99.56 612.10 Td (options ) Tj ET Q q 0 0 0 rg BT 131.90 612.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 164.79 612.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.68 612.10 Td (March6, ) Tj ET Q q 0 0 0 rg BT 216.67 612.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.67 612.10 Td (. ) Tj ET Q q 0 0 0 rg BT 241.86 612.10 Td (The ) Tj ET Q q 0 0 0 rg BT 260.30 612.10 Td (grants ) Tj ET Q q 0 0 0 rg BT 287.64 612.10 Td (have ) Tj ET Q q 0 0 0 rg BT 309.41 612.10 Td (a ) Tj ET Q q 0 0 0 rg BT 316.74 612.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 356.29 612.10 Td (average ) Tj ET Q q 0 0 0 rg BT 390.27 612.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 433.71 612.10 Td (life ) Tj ET Q q 0 0 0 rg BT 449.93 612.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.16 612.10 Td (7.86 ) Tj ET Q q 0 0 0 rg BT 481.55 612.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.65 612.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.55 612.10 Td ( ) Tj ET Q q 0 0 0 rg BT 508.44 612.10 Td (and ) Tj ET Q q 0 0 0 rg BT 525.78 612.10 Td (the ) Tj ET Q q 0 0 0 rg BT 540.89 612.10 Td (stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 600.10 Td (options ) Tj ET Q q 0 0 0 rg BT 81.95 600.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 131.11 600.10 Td (have ) Tj ET Q q 0 0 0 rg BT 152.49 600.10 Td (an ) Tj ET Q q 0 0 0 rg BT 164.43 600.10 Td (intrinsic ) Tj ET Q q 0 0 0 rg BT 199.70 600.10 Td (value ) Tj ET Q q 0 0 0 rg BT 223.86 600.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.69 600.10 Td ($3.0 ) Tj ET Q q 0 0 0 rg BT 254.69 600.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.58 600.10 Td ( ) Tj ET Q q 0 0 0 rg BT 286.08 600.10 Td (as ) Tj ET Q q 0 0 0 rg BT 296.91 600.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.74 600.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 366.32 600.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.32 600.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 583.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.45 583.10 Td (arrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.11 583.10 Td ( ) Tj ET Q q 0 0 0 rg BT 92.86 583.10 Td (- ) Tj ET Q q 0 0 0 rg BT 97.95 583.10 Td (On ) Tj ET Q q 0 0 0 rg BT 111.92 583.10 Td (November ) Tj ET Q q 0 0 0 rg BT 155.88 583.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 165.14 583.10 Td (2010, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.39 583.10 Td (1,327,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.39 583.10 Td ( ) Tj ET Q q 0 0 0 rg BT 231.15 583.10 Td (subscription ) Tj ET Q q 0 0 0 rg BT 281.79 583.10 Td (receipts ) Tj ET Q q 0 0 0 rg BT 314.64 583.10 Td (were ) Tj ET Q q 0 0 0 rg BT 335.82 583.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 362.57 583.10 Td (in ) Tj ET Q q 0 0 0 rg BT 372.11 583.10 Td (a ) Tj ET Q q 0 0 0 rg BT 378.30 583.10 Td (private ) Tj ET Q q 0 0 0 rg BT 407.82 583.10 Td (placement ) Tj ET Q q 0 0 0 rg BT 450.66 583.10 Td (for ) Tj ET Q q 0 0 0 rg BT 464.08 583.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 499.71 583.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 527.02 583.10 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 78.29 571.10 Td (of ) Tj ET Q q 0 0 0 rg BT 89.20 571.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 113.61 571.10 Td (as ) Tj ET Q q 0 0 0 rg BT 125.24 571.10 Td (well ) Tj ET Q q 0 0 0 rg BT 145.76 571.10 Td (as ) Tj ET Q q 0 0 0 rg BT 157.39 571.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 195.12 571.10 Td (to ) Tj ET Q q 0 0 0 rg BT 206.20 571.10 Td (purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.04 571.10 Td (1,327,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.04 571.10 Td ( ) Tj ET Q q 0 0 0 rg BT 288.34 571.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 325.52 571.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 354.38 571.10 Td (common ) Tj ET Q q 0 0 0 rg BT 392.68 571.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 420.97 571.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.87 571.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 456.29 571.10 Td (for ) Tj ET Q q 0 0 0 rg BT 471.25 571.10 Td (C) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.92 571.10 Td ($6.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.42 571.10 Td ( ) Tj ET Q q 0 0 0 rg BT 503.72 571.10 Td (per ) Tj ET Q q 0 0 0 rg BT 519.79 571.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 546.45 571.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (subscription ) Tj ET Q q 0 0 0 rg BT 101.09 559.10 Td (receipts ) Tj ET Q q 0 0 0 rg BT 134.38 559.10 Td (were ) Tj ET Q q 0 0 0 rg BT 156.01 559.10 Td (converted ) Tj ET Q q 0 0 0 rg BT 197.64 559.10 Td (to ) Tj ET Q q 0 0 0 rg BT 207.13 559.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 230.44 559.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 266.52 559.10 Td (common ) Tj ET Q q 0 0 0 rg BT 303.72 559.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 330.91 559.10 Td (at ) Tj ET Q q 0 0 0 rg BT 339.84 559.10 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 364.95 559.10 Td (formation. ) Tj ET Q q 0 0 0 rg BT 409.08 559.10 Td ( ) Tj ET Q q 0 0 0 rg BT 411.29 559.10 Td (During ) Tj ET Q q 0 0 0 rg BT 441.82 559.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 466.52 559.10 Td (all ) Tj ET Q q 0 0 0 rg BT 478.71 559.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 527.58 559.10 Td (warrants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.10 Td (were ) Tj ET Q q 0 0 0 rg BT 71.93 547.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 112.18 547.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 134.12 547.10 Td (to ) Tj ET Q q 0 0 0 rg BT 144.40 547.10 Td (their ) Tj ET Q q 0 0 0 rg BT 165.22 547.10 Td (expiration ) Tj ET Q q 0 0 0 rg BT 208.27 547.10 Td (on ) Tj ET Q q 0 0 0 rg BT 220.77 547.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 279.35 547.10 Td (2013.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 523.30 Td (13. OTHER EMPLOYEE BENEFIT) Tj ET Q q 0 0 0 rg BT 225.07 523.30 Td ( PLANS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 506.30 Td (Defined ) Tj ET Q q 0 0 0 rg BT 85.58 506.30 Td (Contribution ) Tj ET Q q 0 0 0 rg BT 143.96 506.30 Td (Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.40 506.30 Td ( ) Tj ET Q q 0 0 0 rg BT 165.65 506.30 Td (- ) Tj ET Q q 0 0 0 rg BT 171.24 506.30 Td (In ) Tj ET Q q 0 0 0 rg BT 181.82 506.30 Td (January ) Tj ET Q q 0 0 0 rg BT 215.17 506.30 Td (201) Tj ET Q q 0 0 0 rg BT 229.79 506.30 Td (1, ) Tj ET Q q 0 0 0 rg BT 239.05 506.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 262.41 506.30 Td (formed ) Tj ET Q q 0 0 0 rg BT 293.54 506.30 Td (a ) Tj ET Q q 0 0 0 rg BT 300.23 506.30 Td (defined ) Tj ET Q q 0 0 0 rg BT 332.46 506.30 Td (contribution ) Tj ET Q q 0 0 0 rg BT 383.60 506.30 Td (401\(k\) ) Tj ET Q q 0 0 0 rg BT 412.51 506.30 Td (plan ) Tj ET Q q 0 0 0 rg BT 431.97 506.30 Td (covering ) Tj ET Q q 0 0 0 rg BT 469.21 506.30 Td (all ) Tj ET Q q 0 0 0 rg BT 481.46 506.30 Td (qualified ) Tj ET Q q 0 0 0 rg BT 519.25 506.30 Td (employees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 494.30 Td (of ) Tj ET Q q 0 0 0 rg BT 60.41 494.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 84.19 494.30 Td (and ) Tj ET Q q 0 0 0 rg BT 101.29 494.30 Td (its ) Tj ET Q q 0 0 0 rg BT 113.41 494.30 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 165.80 494.30 Td (Employees ) Tj ET Q q 0 0 0 rg BT 212.90 494.30 Td (can ) Tj ET Q q 0 0 0 rg BT 229.44 494.30 Td (choose ) Tj ET Q q 0 0 0 rg BT 259.88 494.30 Td (to ) Tj ET Q q 0 0 0 rg BT 270.33 494.30 Td (contribute ) Tj ET Q q 0 0 0 rg BT 313.54 494.30 Td (up ) Tj ET Q q 0 0 0 rg BT 326.21 494.30 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 494.30 Td (60%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.98 494.30 Td ( ) Tj ET Q q 0 0 0 rg BT 357.65 494.30 Td (of ) Tj ET Q q 0 0 0 rg BT 368.65 494.30 Td (their ) Tj ET Q q 0 0 0 rg BT 389.64 494.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 418.97 494.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 455.51 494.30 Td (but ) Tj ET Q q 0 0 0 rg BT 470.96 494.30 Td (not ) Tj ET Q q 0 0 0 rg BT 486.41 494.30 Td (more ) Tj ET Q q 0 0 0 rg BT 509.62 494.30 Td (than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.51 494.30 Td ($17,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.01 494.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 482.30 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.26 482.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.26 482.30 Td ( ) Tj ET Q q 0 0 0 rg BT 86.86 482.30 Td (to ) Tj ET Q q 0 0 0 rg BT 97.23 482.30 Td (the ) Tj ET Q q 0 0 0 rg BT 112.05 482.30 Td (plan. ) Tj ET Q q 0 0 0 rg BT 134.36 482.30 Td (Qualifying ) Tj ET Q q 0 0 0 rg BT 180.28 482.30 Td (employees ) Tj ET Q q 0 0 0 rg BT 225.64 482.30 Td (age ) Tj ET Q q 0 0 0 rg BT 242.12 482.30 Td (50 ) Tj ET Q q 0 0 0 rg BT 254.72 482.30 Td (and ) Tj ET Q q 0 0 0 rg BT 271.75 482.30 Td (older ) Tj ET Q q 0 0 0 rg BT 294.90 482.30 Td (can ) Tj ET Q q 0 0 0 rg BT 311.37 482.30 Td (contribute ) Tj ET Q q 0 0 0 rg BT 354.51 482.30 Td (an ) Tj ET Q q 0 0 0 rg BT 366.55 482.30 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.14 482.30 Td ($5,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.64 482.30 Td ( ) Tj ET Q q 0 0 0 rg BT 439.23 482.30 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.61 482.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.61 482.30 Td (. ) Tj ET Q q 0 0 0 rg BT 474.71 482.30 Td ( ) Tj ET Q q 0 0 0 rg BT 477.30 482.30 Td (Ef) Tj ET Q q 0 0 0 rg BT 486.56 482.30 Td (fective ) Tj ET Q q 0 0 0 rg BT 515.79 482.30 Td (April ) Tj ET Q q 0 0 0 rg BT 539.50 482.30 Td (2014, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 470.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.22 470.30 Td (matches ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.09 470.30 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.42 470.30 Td ( ) Tj ET Q q 0 0 0 rg BT 133.53 470.30 Td (of ) Tj ET Q q 0 0 0 rg BT 143.98 470.30 Td (the ) Tj ET Q q 0 0 0 rg BT 158.30 470.30 Td (employee ) Tj ET Q q 0 0 0 rg BT 199.29 470.30 Td (contribution ) Tj ET Q q 0 0 0 rg BT 250.28 470.30 Td (up ) Tj ET Q q 0 0 0 rg BT 262.39 470.30 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.28 470.30 Td (2.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.11 470.30 Td ( ) Tj ET Q q 0 0 0 rg BT 295.22 470.30 Td (of ) Tj ET Q q 0 0 0 rg BT 305.66 470.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 334.43 470.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 370.41 470.30 Td ( ) Tj ET Q q 0 0 0 rg BT 372.53 470.30 Td (plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.31 470.30 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.64 470.30 Td ( ) Tj ET Q q 0 0 0 rg BT 411.75 470.30 Td (of ) Tj ET Q q 0 0 0 rg BT 422.19 470.30 Td (additional ) Tj ET Q q 0 0 0 rg BT 464.29 470.30 Td (contributions ) Tj ET Q q 0 0 0 rg BT 519.17 470.30 Td (up ) Tj ET Q q 0 0 0 rg BT 531.28 470.30 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.17 470.30 Td (2.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.00 470.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 458.30 Td (of ) Tj ET Q q 0 0 0 rg BT 61.16 458.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 90.65 458.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 127.36 458.30 Td (for ) Tj ET Q q 0 0 0 rg BT 141.85 458.30 Td (a ) Tj ET Q q 0 0 0 rg BT 149.12 458.30 Td (total ) Tj ET Q q 0 0 0 rg BT 169.73 458.30 Td (maximum ) Tj ET Q q 0 0 0 rg BT 213.11 458.30 Td (expense ) Tj ET Q q 0 0 0 rg BT 248.15 458.30 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.31 458.30 Td (3.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.14 458.30 Td ( ) Tj ET Q q 0 0 0 rg BT 287.97 458.30 Td (of ) Tj ET Q q 0 0 0 rg BT 299.14 458.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 328.62 458.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 365.33 458.30 Td (per ) Tj ET Q q 0 0 0 rg BT 380.93 458.30 Td (participant. ) Tj ET Q q 0 0 0 rg BT 428.40 458.30 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 454.14 458.30 Td (matching ) Tj ET Q q 0 0 0 rg BT 494.18 458.30 Td (contributions ) Tj ET Q q 0 0 0 rg BT 549.79 458.30 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 446.30 Td (discretionary) Tj ET Q q 0 0 0 rg BT 101.55 446.30 Td (. ) Tj ET Q q 0 0 0 rg BT 107.07 446.30 Td (Employees ) Tj ET Q q 0 0 0 rg BT 154.52 446.30 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.74 446.30 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.07 446.30 Td ( ) Tj ET Q q 0 0 0 rg BT 196.08 446.30 Td (vested ) Tj ET Q q 0 0 0 rg BT 224.65 446.30 Td (in ) Tj ET Q q 0 0 0 rg BT 235.44 446.30 Td (their ) Tj ET Q q 0 0 0 rg BT 256.78 446.30 Td (own ) Tj ET Q q 0 0 0 rg BT 277.02 446.30 Td (contributions ) Tj ET Q q 0 0 0 rg BT 332.81 446.30 Td (and ) Tj ET Q q 0 0 0 rg BT 350.26 446.30 Td (vest ) Tj ET Q q 0 0 0 rg BT 369.38 446.30 Td (in ) Tj ET Q q 0 0 0 rg BT 379.51 446.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 403.63 446.30 Td (contributions ) Tj ET Q q 0 0 0 rg BT 459.42 446.30 Td (based ) Tj ET Q q 0 0 0 rg BT 485.21 446.30 Td (on ) Tj ET Q q 0 0 0 rg BT 498.22 446.30 Td (years ) Tj ET Q q 0 0 0 rg BT 522.33 446.30 Td (of ) Tj ET Q q 0 0 0 rg BT 533.68 446.30 Td (service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 434.30 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.15 434.30 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.48 434.30 Td ( ) Tj ET Q q 0 0 0 rg BT 95.85 434.30 Td (vested ) Tj ET Q q 0 0 0 rg BT 123.77 434.30 Td (after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.45 434.30 Td (five ) Tj ET Q q 0 0 0 rg BT 162.37 434.30 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.47 434.30 Td (. ) Tj ET Q q 0 0 0 rg BT 188.34 434.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 229.60 434.30 Td (contributions ) Tj ET Q q 0 0 0 rg BT 284.74 434.30 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.54 434.30 Td ($204,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.04 434.30 Td ( ) Tj ET Q q 0 0 0 rg BT 346.41 434.30 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.22 434.30 Td ($1) Tj ET Q q 0 0 0 rg BT 372.85 434.30 Td (18,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.35 434.30 Td (, ) Tj ET Q q 0 0 0 rg BT 405.22 434.30 Td (for ) Tj ET Q q 0 0 0 rg BT 419.25 434.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.84 434.30 Td (years ) Tj ET Q q 0 0 0 rg BT 457.31 434.30 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.18 434.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.55 434.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 542.01 434.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.01 434.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 422.30 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 422.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 125.52 422.30 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.52 422.30 Td (, ) Tj ET Q q 0 0 0 rg BT 150.52 422.30 Td (respectively) Tj ET Q q 0 0 0 rg BT 198.18 422.30 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 405.30 Td (Employee ) Tj ET Q q 0 0 0 rg BT 95.28 405.30 Td (Stock ) Tj ET Q q 0 0 0 rg BT 122.23 405.30 Td (Pur) Tj ET Q q 0 0 0 rg BT 138.16 405.30 Td (chase ) Tj ET Q q 0 0 0 rg BT 164.55 405.30 Td (Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.00 405.30 Td ( ) Tj ET Q q 0 0 0 rg BT 187.06 405.30 Td (- ) Tj ET Q q 0 0 0 rg BT 193.45 405.30 Td (In ) Tj ET Q q 0 0 0 rg BT 204.84 405.30 Td (the ) Tj ET Q q 0 0 0 rg BT 220.12 405.30 Td (second ) Tj ET Q q 0 0 0 rg BT 250.95 405.30 Td (quarter ) Tj ET Q q 0 0 0 rg BT 282.33 405.30 Td (of ) Tj ET Q q 0 0 0 rg BT 293.72 405.30 Td (201) Tj ET Q q 0 0 0 rg BT 308.35 405.30 Td (1, ) Tj ET Q q 0 0 0 rg BT 318.24 405.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 342.41 405.30 Td (initiated ) Tj ET Q q 0 0 0 rg BT 378.24 405.30 Td (the ) Tj ET Q q 0 0 0 rg BT 392.84 405.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 417.01 405.30 Td (Employee ) Tj ET Q q 0 0 0 rg BT 460.61 405.30 Td (Stock ) Tj ET Q q 0 0 0 rg BT 486.45 405.30 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 525.61 405.30 Td (Plan ) Tj ET Q q 0 0 0 rg BT 546.45 405.30 Td (\(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 393.30 Td (ESPP\) ) Tj ET Q q 0 0 0 rg BT 86.92 393.30 Td (to ) Tj ET Q q 0 0 0 rg BT 96.61 393.30 Td (encourage ) Tj ET Q q 0 0 0 rg BT 139.62 393.30 Td (continued ) Tj ET Q q 0 0 0 rg BT 180.97 393.30 Td (employee ) Tj ET Q q 0 0 0 rg BT 221.76 393.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 253.11 393.30 Td (in ) Tj ET Q q 0 0 0 rg BT 262.81 393.30 Td (the ) Tj ET Q q 0 0 0 rg BT 276.94 393.30 Td (operation, ) Tj ET Q q 0 0 0 rg BT 319.12 393.30 Td (growth ) Tj ET Q q 0 0 0 rg BT 349.37 393.30 Td (and ) Tj ET Q q 0 0 0 rg BT 365.73 393.30 Td (development ) Tj ET Q q 0 0 0 rg BT 419.29 393.30 Td (of ) Tj ET Q q 0 0 0 rg BT 429.12 393.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 452.15 393.30 Td (and ) Tj ET Q q 0 0 0 rg BT 468.50 393.30 Td (to ) Tj ET Q q 0 0 0 rg BT 478.20 393.30 Td (provide ) Tj ET Q q 0 0 0 rg BT 510.66 393.30 Td (an ) Tj ET Q q 0 0 0 rg BT 522.02 393.30 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 381.30 Td (investment ) Tj ET Q q 0 0 0 rg BT 96.27 381.30 Td (opportunity ) Tj ET Q q 0 0 0 rg BT 145.33 381.30 Td (to ) Tj ET Q q 0 0 0 rg BT 155.50 381.30 Td (employees. ) Tj ET Q q 0 0 0 rg BT 203.16 381.30 Td ( ) Tj ET Q q 0 0 0 rg BT 205.55 381.30 Td (Beginning ) Tj ET Q q 0 0 0 rg BT 249.60 381.30 Td (in ) Tj ET Q q 0 0 0 rg BT 259.77 381.30 Td (June ) Tj ET Q q 0 0 0 rg BT 280.50 381.30 Td (201) Tj ET Q q 0 0 0 rg BT 295.12 381.30 Td (1, ) Tj ET Q q 0 0 0 rg BT 305.02 381.30 Td (full ) Tj ET Q q 0 0 0 rg BT 321.29 381.30 Td (time ) Tj ET Q q 0 0 0 rg BT 341.46 381.30 Td (and ) Tj ET Q q 0 0 0 rg BT 358.29 381.30 Td (permanent ) Tj ET Q q 0 0 0 rg BT 402.88 381.30 Td (part ) Tj ET Q q 0 0 0 rg BT 420.82 381.30 Td (time ) Tj ET Q q 0 0 0 rg BT 440.99 381.30 Td (employees ) Tj ET Q q 0 0 0 rg BT 486.14 381.30 Td (working ) Tj ET Q q 0 0 0 rg BT 521.86 381.30 Td (more ) Tj ET Q q 0 0 0 rg BT 544.80 381.30 Td (than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 369.30 Td (30 ) Tj ET Q q 0 0 0 rg BT 62.70 369.30 Td (hours) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.92 369.30 Td ( ) Tj ET Q q 0 0 0 rg BT 87.62 369.30 Td (per ) Tj ET Q q 0 0 0 rg BT 103.08 369.30 Td (week ) Tj ET Q q 0 0 0 rg BT 126.88 369.30 Td (were ) Tj ET Q q 0 0 0 rg BT 149.01 369.30 Td (allowed ) Tj ET Q q 0 0 0 rg BT 183.36 369.30 Td (to ) Tj ET Q q 0 0 0 rg BT 193.84 369.30 Td (invest ) Tj ET Q q 0 0 0 rg BT 220.42 369.30 Td (up ) Tj ET Q q 0 0 0 rg BT 233.12 369.30 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.59 369.30 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.92 369.30 Td ( ) Tj ET Q q 0 0 0 rg BT 259.62 369.30 Td (of ) Tj ET Q q 0 0 0 rg BT 270.65 369.30 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 306.67 369.30 Td (salary ) Tj ET Q q 0 0 0 rg BT 333.25 369.30 Td (in ) Tj ET Q q 0 0 0 rg BT 343.13 369.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 366.93 369.30 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 403.51 369.30 Td (voting ) Tj ET Q q 0 0 0 rg BT 431.76 369.30 Td (common ) Tj ET Q q 0 0 0 rg BT 469.46 369.30 Td (shares. ) Tj ET Q q 0 0 0 rg BT 499.64 369.30 Td ( ) Tj ET Q q 0 0 0 rg BT 502.34 369.30 Td (Ef) Tj ET Q q 0 0 0 rg BT 511.60 369.30 Td (fective ) Tj ET Q q 0 0 0 rg BT 540.90 369.30 Td (April ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 357.30 Td (2014, ) Tj ET Q q 0 0 0 rg BT 74.59 357.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 98.39 357.30 Td (matches ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.84 357.30 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.17 357.30 Td ( ) Tj ET Q q 0 0 0 rg BT 159.85 357.30 Td (of ) Tj ET Q q 0 0 0 rg BT 170.87 357.30 Td (the ) Tj ET Q q 0 0 0 rg BT 185.77 357.30 Td (employee ) Tj ET Q q 0 0 0 rg BT 227.33 357.30 Td (contribution ) Tj ET Q q 0 0 0 rg BT 278.89 357.30 Td (up ) Tj ET Q q 0 0 0 rg BT 291.58 357.30 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.04 357.30 Td (2.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.87 357.30 Td ( ) Tj ET Q q 0 0 0 rg BT 325.56 357.30 Td (of ) Tj ET Q q 0 0 0 rg BT 336.58 357.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 365.92 357.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 402.48 357.30 Td (plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.83 357.30 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.16 357.30 Td ( ) Tj ET Q q 0 0 0 rg BT 442.85 357.30 Td (of ) Tj ET Q q 0 0 0 rg BT 453.87 357.30 Td (additional ) Tj ET Q q 0 0 0 rg BT 496.54 357.30 Td (contributions ) Tj ET Q q 0 0 0 rg BT 552.00 357.30 Td (up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 345.30 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.65 345.30 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.98 345.30 Td ( ) Tj ET Q q 0 0 0 rg BT 76.86 345.30 Td (of ) Tj ET Q q 0 0 0 rg BT 88.06 345.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 117.59 345.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 154.34 345.30 Td (for ) Tj ET Q q 0 0 0 rg BT 168.87 345.30 Td (a ) Tj ET Q q 0 0 0 rg BT 176.18 345.30 Td (total ) Tj ET Q q 0 0 0 rg BT 196.83 345.30 Td (maximum ) Tj ET Q q 0 0 0 rg BT 240.26 345.30 Td (expense ) Tj ET Q q 0 0 0 rg BT 275.34 345.30 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.54 345.30 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.87 345.30 Td ( ) Tj ET Q q 0 0 0 rg BT 302.74 345.30 Td (of ) Tj ET Q q 0 0 0 rg BT 313.95 345.30 Td (annual ) Tj ET Q q 0 0 0 rg BT 343.48 345.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 380.23 345.30 Td (per ) Tj ET Q q 0 0 0 rg BT 395.87 345.30 Td (participant. ) Tj ET Q q 0 0 0 rg BT 443.37 345.30 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 469.15 345.30 Td (matching ) Tj ET Q q 0 0 0 rg BT 509.24 345.30 Td (contributions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 333.30 Td (are ) Tj ET Q q 0 0 0 rg BT 65.14 333.30 Td (discretionary) Tj ET Q q 0 0 0 rg BT 116.69 333.30 Td (. ) Tj ET Q q 0 0 0 rg BT 122.13 333.30 Td (Employees ) Tj ET Q q 0 0 0 rg BT 169.50 333.30 Td (who ) Tj ET Q q 0 0 0 rg BT 189.65 333.30 Td (signed ) Tj ET Q q 0 0 0 rg BT 218.70 333.30 Td (up ) Tj ET Q q 0 0 0 rg BT 231.63 333.30 Td (for ) Tj ET Q q 0 0 0 rg BT 246.23 333.30 Td (the ) Tj ET Q q 0 0 0 rg BT 261.38 333.30 Td (ESPP) Tj ET Q q 0 0 0 rg BT 283.80 333.30 Td ( ) Tj ET Q q 0 0 0 rg BT 286.73 333.30 Td (by ) Tj ET Q q 0 0 0 rg BT 299.67 333.30 Td (May ) Tj ET Q q 0 0 0 rg BT 320.93 333.30 Td (30, ) Tj ET Q q 0 0 0 rg BT 336.37 333.30 Td (201) Tj ET Q q 0 0 0 rg BT 351.00 333.30 Td (1 ) Tj ET Q q 0 0 0 rg BT 358.93 333.30 Td (each ) Tj ET Q q 0 0 0 rg BT 380.18 333.30 Td (received ) Tj ET Q q 0 0 0 rg BT 416.98 333.30 Td (an ) Tj ET Q q 0 0 0 rg BT 429.35 333.30 Td (additional ) Tj ET Q q 0 0 0 rg BT 472.28 333.30 Td (100 ) Tj ET Q q 0 0 0 rg BT 490.21 333.30 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 527.02 333.30 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 321.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 77.96 321.30 Td (as ) Tj ET Q q 0 0 0 rg BT 89.27 321.30 Td (an ) Tj ET Q q 0 0 0 rg BT 101.68 321.30 Td (initial ) Tj ET Q q 0 0 0 rg BT 127.98 321.30 Td (participation ) Tj ET Q q 0 0 0 rg BT 181.49 321.30 Td (incentive. ) Tj ET Q q 0 0 0 rg BT 223.62 321.30 Td ( ) Tj ET Q q 0 0 0 rg BT 225.94 321.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 250.02 321.30 Td (also ) Tj ET Q q 0 0 0 rg BT 269.10 321.30 Td (pays ) Tj ET Q q 0 0 0 rg BT 290.40 321.30 Td (all ) Tj ET Q q 0 0 0 rg BT 303.37 321.30 Td (administrative ) Tj ET Q q 0 0 0 rg BT 363.55 321.30 Td (costs ) Tj ET Q q 0 0 0 rg BT 386.53 321.30 Td (related ) Tj ET Q q 0 0 0 rg BT 416.70 321.30 Td (to ) Tj ET Q q 0 0 0 rg BT 427.45 321.30 Td (this ) Tj ET Q q 0 0 0 rg BT 444.88 321.30 Td (plan. ) Tj ET Q q 0 0 0 rg BT 467.57 321.30 Td (During ) Tj ET Q q 0 0 0 rg BT 498.87 321.30 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.06 321.30 Td (years ) Tj ET Q q 0 0 0 rg BT 538.13 321.30 Td (ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.01 321.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 309.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.01 309.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.01 309.30 Td ( ) Tj ET Q q 0 0 0 rg BT 129.94 309.30 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.31 309.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 204.32 309.30 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.32 309.30 Td (, ) Tj ET Q q 0 0 0 rg BT 228.32 309.30 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 251.36 309.30 Td (incurred ) Tj ET Q q 0 0 0 rg BT 286.60 309.30 Td (costs ) Tj ET Q q 0 0 0 rg BT 308.53 309.30 Td (related ) Tj ET Q q 0 0 0 rg BT 337.66 309.30 Td (to ) Tj ET Q q 0 0 0 rg BT 347.36 309.30 Td (the ) Tj ET Q q 0 0 0 rg BT 361.51 309.30 Td (plan ) Tj ET Q q 0 0 0 rg BT 380.65 309.30 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.91 309.30 Td ($1) Tj ET Q q 0 0 0 rg BT 400.54 309.30 Td (13,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.04 309.30 Td ( ) Tj ET Q q 0 0 0 rg BT 429.97 309.30 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.33 309.30 Td ($58,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.83 309.30 Td (, ) Tj ET Q q 0 0 0 rg BT 483.26 309.30 Td (respectively) Tj ET Q q 0 0 0 rg BT 530.92 309.30 Td (. ) Tj ET Q q 0 0 0 rg BT 535.35 309.30 Td (Shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 297.30 Td (for ) Tj ET Q q 0 0 0 rg BT 64.16 297.30 Td (this ) Tj ET Q q 0 0 0 rg BT 81.11 297.30 Td (plan ) Tj ET Q q 0 0 0 rg BT 100.83 297.30 Td (are ) Tj ET Q q 0 0 0 rg BT 115.53 297.30 Td (purchased ) Tj ET Q q 0 0 0 rg BT 158.57 297.30 Td (on ) Tj ET Q q 0 0 0 rg BT 171.07 297.30 Td (the ) Tj ET Q q 0 0 0 rg BT 185.79 297.30 Td (open ) Tj ET Q q 0 0 0 rg BT 207.72 297.30 Td (market.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 273.50 Td (14. SHARE CAPIT) Tj ET Q q 0 0 0 rg BT 152.82 273.50 Td (AL) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.50 Td (On ) Tj ET Q q 0 0 0 rg BT 64.07 256.50 Td (December ) Tj ET Q q 0 0 0 rg BT 107.01 256.50 Td (7, ) Tj ET Q q 0 0 0 rg BT 116.36 256.50 Td (2012, ) Tj ET Q q 0 0 0 rg BT 140.72 256.50 Td (a ) Tj ET Q q 0 0 0 rg BT 147.01 256.50 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 195.51 256.50 Td (meeting ) Tj ET Q q 0 0 0 rg BT 229.57 256.50 Td (was ) Tj ET Q q 0 0 0 rg BT 246.98 256.50 Td (held ) Tj ET Q q 0 0 0 rg BT 266.05 256.50 Td (where ) Tj ET Q q 0 0 0 rg BT 292.33 256.50 Td (a ) Tj ET Q q 0 0 0 rg BT 298.62 256.50 Td (one-for) Tj ET Q q 0 0 0 rg BT 327.85 256.50 Td (-three ) Tj ET Q q 0 0 0 rg BT 353.02 256.50 Td (reverse ) Tj ET Q q 0 0 0 rg BT 383.74 256.50 Td (stock ) Tj ET Q q 0 0 0 rg BT 406.70 256.50 Td (split ) Tj ET Q q 0 0 0 rg BT 425.78 256.50 Td (was ) Tj ET Q q 0 0 0 rg BT 443.18 256.50 Td (unanimously ) Tj ET Q q 0 0 0 rg BT 496.70 256.50 Td (approved. ) Tj ET Q q 0 0 0 rg BT 538.13 256.50 Td (When ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.50 Td (the ) Tj ET Q q 0 0 0 rg BT 64.58 244.50 Td (reverse ) Tj ET Q q 0 0 0 rg BT 95.82 244.50 Td (stock ) Tj ET Q q 0 0 0 rg BT 119.29 244.50 Td (split ) Tj ET Q q 0 0 0 rg BT 138.89 244.50 Td (took ) Tj ET Q q 0 0 0 rg BT 159.03 244.50 Td (ef) Tj ET Q q 0 0 0 rg BT 166.62 244.50 Td (fect ) Tj ET Q q 0 0 0 rg BT 183.97 244.50 Td (on ) Tj ET Q q 0 0 0 rg BT 196.34 244.50 Td (January ) Tj ET Q q 0 0 0 rg BT 229.81 244.50 Td (29, ) Tj ET Q q 0 0 0 rg BT 244.67 244.50 Td (2013, ) Tj ET Q q 0 0 0 rg BT 269.54 244.50 Td (it ) Tj ET Q q 0 0 0 rg BT 277.46 244.50 Td (decreased ) Tj ET Q q 0 0 0 rg BT 319.25 244.50 Td (the ) Tj ET Q q 0 0 0 rg BT 333.83 244.50 Td (authorized ) Tj ET Q q 0 0 0 rg BT 378.40 244.50 Td (and ) Tj ET Q q 0 0 0 rg BT 395.21 244.50 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 444.24 244.50 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 480.48 244.50 Td ( ) Tj ET Q q 0 0 0 rg BT 482.85 244.50 Td (common ) Tj ET Q q 0 0 0 rg BT 520.21 244.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 547.57 244.50 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.50 Td (restricted ) Tj ET Q q 0 0 0 rg BT 89.48 232.50 Td (common ) Tj ET Q q 0 0 0 rg BT 126.76 232.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 154.03 232.50 Td (at ) Tj ET Q q 0 0 0 rg BT 163.52 232.50 Td (a ) Tj ET Q q 0 0 0 rg BT 170.24 232.50 Td (ratio ) Tj ET Q q 0 0 0 rg BT 190.84 232.50 Td (of ) Tj ET Q q 0 0 0 rg BT 201.45 232.50 Td (one-for) Tj ET Q q 0 0 0 rg BT 230.68 232.50 Td (-three. ) Tj ET Q q 0 0 0 rg BT 258.61 232.50 Td (The ) Tj ET Q q 0 0 0 rg BT 276.44 232.50 Td (primary ) Tj ET Q q 0 0 0 rg BT 310.37 232.50 Td (objective ) Tj ET Q q 0 0 0 rg BT 349.30 232.50 Td (of ) Tj ET Q q 0 0 0 rg BT 359.91 232.50 Td (the ) Tj ET Q q 0 0 0 rg BT 374.41 232.50 Td (reverse ) Tj ET Q q 0 0 0 rg BT 405.55 232.50 Td (stock ) Tj ET Q q 0 0 0 rg BT 428.94 232.50 Td (split ) Tj ET Q q 0 0 0 rg BT 448.45 232.50 Td (was ) Tj ET Q q 0 0 0 rg BT 466.28 232.50 Td (to ) Tj ET Q q 0 0 0 rg BT 476.34 232.50 Td (increase ) Tj ET Q q 0 0 0 rg BT 511.37 232.50 Td (the ) Tj ET Q q 0 0 0 rg BT 525.87 232.50 Td (per ) Tj ET Q q 0 0 0 rg BT 540.91 232.50 Td (share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.50 Td (price ) Tj ET Q q 0 0 0 rg BT 73.17 220.50 Td (of ) Tj ET Q q 0 0 0 rg BT 83.98 220.50 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 110.07 220.50 Td (common ) Tj ET Q q 0 0 0 rg BT 148.25 220.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 176.42 220.50 Td (to ) Tj ET Q q 0 0 0 rg BT 187.38 220.50 Td (meet ) Tj ET Q q 0 0 0 rg BT 210.00 220.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 240.38 220.50 Td (listing ) Tj ET Q q 0 0 0 rg BT 268.57 220.50 Td (requirements ) Tj ET Q q 0 0 0 rg BT 323.96 220.50 Td (of ) Tj ET Q q 0 0 0 rg BT 335.47 220.50 Td (the ) Tj ET Q q 0 0 0 rg BT 350.87 220.50 Td (NASDAQ ) Tj ET Q q 0 0 0 rg BT 395.72 220.50 Td (Capital ) Tj ET Q q 0 0 0 rg BT 427.78 220.50 Td (Market. ) Tj ET Q q 0 0 0 rg BT 462.11 220.50 Td (The ) Tj ET Q q 0 0 0 rg BT 480.84 220.50 Td (share ) Tj ET Q q 0 0 0 rg BT 505.13 220.50 Td (capital ) Tj ET Q q 0 0 0 rg BT 534.96 220.50 Td (for ) Tj ET Q q 0 0 0 rg BT 549.80 220.50 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.50 Td (common ) Tj ET Q q 0 0 0 rg BT 87.50 208.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 114.99 208.50 Td (is ) Tj ET Q q 0 0 0 rg BT 124.16 208.50 Td (as ) Tj ET Q q 0 0 0 rg BT 134.99 208.50 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 193.00 246.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 193.00 66.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 193.00 94.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 193.00 99.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 152.00 246.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 152.00 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 152.00 56.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 152.00 38.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 152.00 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 152.00 41.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 121.00 246.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 121.00 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 121.00 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 121.00 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 121.00 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.50 121.00 41.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 193 m 418.5 193 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 181 m 418.5 181 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 193 m 456.5 193 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 181 m 456.5 181 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 193 m 514.5 193 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 181 m 514.5 181 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 193 m 555.5 193 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 181 m 555.5 181 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 152 m 362.5 152 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 181 m 514.5 181 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 152 m 514.5 152 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 181 m 555.5 181 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 152 m 555.5 152 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 152 m 362.5 152 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 152 m 418.5 152 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 152 m 456.5 152 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 152 m 514.5 152 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 152 m 555.5 152 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 121 m 362.5 121 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 121 m 418.5 121 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 121 m 456.5 121 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 121 m 514.5 121 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 121 m 555.5 121 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 121 m 362.5 121 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 107 m 362.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 105 m 362.5 105 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 121 m 418.5 121 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 107 m 418.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 105 m 418.5 105 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 121 m 456.5 121 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 107 m 456.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 105 m 456.5 105 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 121 m 514.5 121 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 107 m 514.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 105 m 514.5 105 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 121 m 555.5 121 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 107 m 555.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514.5 105 m 555.5 105 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 183.73 Td (At December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.00 183.73 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.50 183.73 Td (2013) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 317.50 164.23 Td (Shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 309.65 156.23 Td (Authorized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 366.60 172.23 Td (Shares Issued) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 383.55 164.23 Td (and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 368.65 156.23 Td (Outstanding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.95 164.23 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 421.30 156.23 Td (\(in '000s\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.50 172.23 Td (Shares) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.65 164.23 Td (Issued and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 463.65 156.23 Td (Outstanding) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.45 164.23 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 518.80 156.23 Td (\(in '000s\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 140.67 Td (Ordinary) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.60 140.67 Td (266,666,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 140.67 Td (11,638,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 140.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 140.67 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.60 140.67 Td (9,291,871) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 140.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 140.67 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 125.67 Td (Restricted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.60 125.67 Td (33,333,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 125.67 Td (132,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 125.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 125.67 Td (132,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 125.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 125.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 110.67 Td (Total common shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.60 110.67 Td (300,000,001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 110.67 Td (11,771,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 110.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 110.67 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.60 110.67 Td (9,424,734) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.00 110.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 110.67 Td (28) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 89.50 Td (On ) Tj ET Q q 0 0 0 rg BT 64.96 89.50 Td (February1) Tj ET Q q 0 0 0 rg BT 108.18 89.50 Td (1, ) Tj ET Q q 0 0 0 rg BT 118.42 89.50 Td (2013, ) Tj ET Q q 0 0 0 rg BT 143.65 89.50 Td (an ) Tj ET Q q 0 0 0 rg BT 155.83 89.50 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 197.42 89.50 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.49 89.50 Td (4,125,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.49 89.50 Td ( ) Tj ET Q q 0 0 0 rg BT 250.62 89.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 274.46 89.50 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 311.07 89.50 Td (common ) Tj ET Q q 0 0 0 rg BT 348.80 89.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 376.53 89.50 Td (were ) Tj ET Q q 0 0 0 rg BT 398.69 89.50 Td (of) Tj ET Q q 0 0 0 rg BT 406.84 89.50 Td (fered ) Tj ET Q q 0 0 0 rg BT 430.11 89.50 Td (in ) Tj ET Q q 0 0 0 rg BT 440.02 89.50 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 465.66 89.50 Td (initial ) Tj ET Q q 0 0 0 rg BT 491.73 89.50 Td (public ) Tj ET Q q 0 0 0 rg BT 519.46 89.50 Td (of) Tj ET Q q 0 0 0 rg BT 527.61 89.50 Td (fering ) Tj ET Q q 0 0 0 rg BT 554.22 89.50 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.50 Td (the ) Tj ET Q q 0 0 0 rg BT 64.39 77.50 Td (United ) Tj ET Q q 0 0 0 rg BT 93.79 77.50 Td (States. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.35 77.50 Td (1,500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.35 77.50 Td ( ) Tj ET Q q 0 0 0 rg BT 164.53 77.50 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 200.58 77.50 Td (common ) Tj ET Q q 0 0 0 rg BT 237.75 77.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 264.92 77.50 Td (were ) Tj ET Q q 0 0 0 rg BT 286.53 77.50 Td (of) Tj ET Q q 0 0 0 rg BT 294.67 77.50 Td (fered ) Tj ET Q q 0 0 0 rg BT 317.39 77.50 Td (by ) Tj ET Q q 0 0 0 rg BT 329.08 77.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 352.37 77.50 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.99 77.50 Td (2,625,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.99 77.50 Td ( ) Tj ET Q q 0 0 0 rg BT 411.16 77.50 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 447.22 77.50 Td (common ) Tj ET Q q 0 0 0 rg BT 484.39 77.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 511.55 77.50 Td (were ) Tj ET Q q 0 0 0 rg BT 533.16 77.50 Td (sold ) Tj ET Q q 0 0 0 rg BT 552.01 77.50 Td (by ) Tj ET Q q 0 0 0 rg BT 564.51 77.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 65.50 Td (Kingsway ) Tj ET Q q 0 0 0 rg BT 93.23 65.50 Td (at ) Tj ET Q q 0 0 0 rg BT 103.12 65.50 Td (a ) Tj ET Q q 0 0 0 rg BT 110.23 65.50 Td (price ) Tj ET Q q 0 0 0 rg BT 132.89 65.50 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.89 65.50 Td ($5.85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.39 65.50 Td ( ) Tj ET Q q 0 0 0 rg BT 169.06 65.50 Td (per ) Tj ET Q q 0 0 0 rg BT 184.50 65.50 Td (share, ) Tj ET Q q 0 0 0 rg BT 210.78 65.50 Td (less ) Tj ET Q q 0 0 0 rg BT 228.45 65.50 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 282.78 65.50 Td (discounts ) Tj ET Q q 0 0 0 rg BT 323.23 65.50 Td (and ) Tj ET Q q 0 0 0 rg BT 340.34 65.50 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 381.02 65.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 404.81 65.50 Td (also ) Tj ET Q q 0 0 0 rg BT 423.59 65.50 Td (granted ) Tj ET Q q 0 0 0 rg BT 456.25 65.50 Td (the ) Tj ET Q q 0 0 0 rg BT 471.14 65.50 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 524.35 65.50 Td (an ) Tj ET Q q 0 0 0 rg BT 536.46 65.50 Td (option ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 53.50 Td (to ) Tj ET Q q 0 0 0 rg BT 60.59 53.50 Td (purchase ) Tj ET Q q 0 0 0 rg BT 98.94 53.50 Td (up ) Tj ET Q q 0 0 0 rg BT 111.75 53.50 Td (to ) Tj ET Q q 0 0 0 rg BT 122.33 53.50 Td (an ) Tj ET Q q 0 0 0 rg BT 134.58 53.50 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 176.25 53.50 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.40 53.50 Td (618,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.90 53.50 Td ( ) Tj ET Q q 0 0 0 rg BT 222.71 53.50 Td (additional ) Tj ET Q q 0 0 0 rg BT 265.51 53.50 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 302.19 53.50 Td (common ) Tj ET Q q 0 0 0 rg BT 340.00 53.50 Td (shares ) Tj ET Q q 0 0 0 rg BT 367.80 53.50 Td (at ) Tj ET Q q 0 0 0 rg BT 377.82 53.50 Td (the ) Tj ET Q q 0 0 0 rg BT 392.85 53.50 Td (public ) Tj ET Q q 0 0 0 rg BT 420.66 53.50 Td (of) Tj ET Q q 0 0 0 rg BT 428.81 53.50 Td (fering ) Tj ET Q q 0 0 0 rg BT 455.49 53.50 Td (price ) Tj ET Q q 0 0 0 rg BT 478.29 53.50 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.43 53.50 Td ($5.85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.93 53.50 Td ( ) Tj ET Q q 0 0 0 rg BT 514.74 53.50 Td (per ) Tj ET Q q 0 0 0 rg BT 530.32 53.50 Td (share ) Tj ET Q q 0 0 0 rg BT 554.23 53.50 Td (to ) Tj ET Q endstream endobj 151 0 obj <> endobj 152 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (cover ) Tj ET Q q 0 0 0 rg BT 75.27 742.10 Td (over) Tj ET Q q 0 0 0 rg BT 92.83 742.10 Td (-allotments, ) Tj ET Q q 0 0 0 rg BT 143.38 742.10 Td (if ) Tj ET Q q 0 0 0 rg BT 152.55 742.10 Td (any) Tj ET Q q 0 0 0 rg BT 166.34 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 171.90 742.10 Td (On ) Tj ET Q q 0 0 0 rg BT 187.18 742.10 Td (March ) Tj ET Q q 0 0 0 rg BT 216.33 742.10 Td (1) Tj ET Q q 0 0 0 rg BT 220.96 742.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 231.52 742.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 257.08 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 272.35 742.10 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 325.95 742.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 366.76 742.10 Td (this ) Tj ET Q q 0 0 0 rg BT 384.27 742.10 Td (option ) Tj ET Q q 0 0 0 rg BT 412.88 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 430.38 742.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 473.97 742.10 Td (an ) Tj ET Q q 0 0 0 rg BT 486.47 742.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.52 742.10 Td (451,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.02 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 86.38 730.10 Td (common ) Tj ET Q q 0 0 0 rg BT 123.87 730.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 153.31 730.10 Td (After ) Tj ET Q q 0 0 0 rg BT 176.91 730.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 231.06 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 248.00 730.10 Td (other ) Tj ET Q q 0 0 0 rg BT 271.05 730.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 311.60 730.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 335.21 730.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 369.35 730.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 411.28 730.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 449.32 730.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 730.10 Td ($9.8 ) Tj ET Q q 0 0 0 rg BT 480.15 730.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.04 730.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (All ) Tj ET Q q 0 0 0 rg BT 66.04 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 77.64 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 93.13 706.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 121.39 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 139.10 706.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 189.03 706.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 229.50 706.10 Td (common ) Tj ET Q q 0 0 0 rg BT 267.76 706.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 296.02 706.10 Td (are ) Tj ET Q q 0 0 0 rg BT 311.49 706.10 Td (beneficially ) Tj ET Q q 0 0 0 rg BT 361.95 706.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 391.88 706.10 Td (or ) Tj ET Q q 0 0 0 rg BT 403.48 706.10 Td (controlled ) Tj ET Q q 0 0 0 rg BT 447.29 706.10 Td (by ) Tj ET Q q 0 0 0 rg BT 460.55 706.10 Td (Kingsway) Tj ET Q q 0 0 0 rg BT 500.45 706.10 Td (. ) Tj ET Q q 0 0 0 rg BT 505.98 706.10 Td (The ) Tj ET Q q 0 0 0 rg BT 524.80 706.10 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (common ) Tj ET Q q 0 0 0 rg BT 86.93 694.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 113.85 694.10 Td (are ) Tj ET Q q 0 0 0 rg BT 127.98 694.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 159.90 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 169.61 694.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 188.76 694.10 Td (at ) Tj ET Q q 0 0 0 rg BT 197.91 694.10 Td (all ) Tj ET Q q 0 0 0 rg BT 209.83 694.10 Td (meetings ) Tj ET Q q 0 0 0 rg BT 247.86 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 258.13 694.10 Td (shareholders, ) Tj ET Q q 0 0 0 rg BT 313.09 694.10 Td (except ) Tj ET Q q 0 0 0 rg BT 341.12 694.10 Td (at ) Tj ET Q q 0 0 0 rg BT 350.26 694.10 Td (meetings ) Tj ET Q q 0 0 0 rg BT 388.30 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 398.56 694.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 429.93 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 440.19 694.10 Td (a ) Tj ET Q q 0 0 0 rg BT 446.55 694.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 479.58 694.10 Td (class ) Tj ET Q q 0 0 0 rg BT 500.95 694.10 Td (that ) Tj ET Q q 0 0 0 rg BT 517.87 694.10 Td (are ) Tj ET Q q 0 0 0 rg BT 532.01 694.10 Td (entitled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.79 682.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 79.01 682.10 Td (separately ) Tj ET Q q 0 0 0 rg BT 121.55 682.10 Td (as ) Tj ET Q q 0 0 0 rg BT 131.88 682.10 Td (a ) Tj ET Q q 0 0 0 rg BT 138.33 682.10 Td (class. ) Tj ET Q q 0 0 0 rg BT 162.28 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 164.14 682.10 Td (The ) Tj ET Q q 0 0 0 rg BT 181.69 682.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 220.90 682.10 Td (common ) Tj ET Q q 0 0 0 rg BT 257.90 682.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 284.90 682.10 Td (as ) Tj ET Q q 0 0 0 rg BT 295.24 682.10 Td (a ) Tj ET Q q 0 0 0 rg BT 301.68 682.10 Td (class ) Tj ET Q q 0 0 0 rg BT 323.13 682.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 344.02 682.10 Td (not ) Tj ET Q q 0 0 0 rg BT 358.81 682.10 Td (carry ) Tj ET Q q 0 0 0 rg BT 381.35 682.10 Td (more ) Tj ET Q q 0 0 0 rg BT 403.90 682.10 Td (than ) Tj ET Q q 0 0 0 rg BT 423.13 682.10 Td (30% ) Tj ET Q q 0 0 0 rg BT 443.46 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 453.80 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 468.02 682.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 508.89 682.10 Td (votes ) Tj ET Q q 0 0 0 rg BT 532.01 682.10 Td (eligible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.05 670.10 Td (be ) Tj ET Q q 0 0 0 rg BT 71.76 670.10 Td (voted ) Tj ET Q q 0 0 0 rg BT 96.25 670.10 Td (at ) Tj ET Q q 0 0 0 rg BT 105.74 670.10 Td (a ) Tj ET Q q 0 0 0 rg BT 112.45 670.10 Td (general ) Tj ET Q q 0 0 0 rg BT 144.14 670.10 Td (meeting ) Tj ET Q q 0 0 0 rg BT 178.63 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 189.23 670.10 Td (common ) Tj ET Q q 0 0 0 rg BT 226.50 670.10 Td (shareholders. ) Tj ET Q q 0 0 0 rg BT 281.64 670.10 Td (The ) Tj ET Q q 0 0 0 rg BT 299.46 670.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 338.94 670.10 Td (common ) Tj ET Q q 0 0 0 rg BT 376.20 670.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 403.46 670.10 Td (will ) Tj ET Q q 0 0 0 rg BT 421.29 670.10 Td (convert ) Tj ET Q q 0 0 0 rg BT 453.55 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 463.60 670.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 499.75 670.10 Td (common ) Tj ET Q q 0 0 0 rg BT 537.02 670.10 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.00 658.10 Td (event ) Tj ET Q q 0 0 0 rg BT 99.15 658.10 Td (that ) Tj ET Q q 0 0 0 rg BT 116.65 658.10 Td (these ) Tj ET Q q 0 0 0 rg BT 139.69 658.10 Td (Kingsway ) Tj ET Q q 0 0 0 rg BT 182.74 658.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 211.90 658.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 239.39 658.10 Td (are ) Tj ET Q q 0 0 0 rg BT 254.10 658.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 273.27 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 283.55 658.10 Td (non-af) Tj ET Q q 0 0 0 rg BT 309.47 658.10 Td (filiates ) Tj ET Q q 0 0 0 rg BT 339.18 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 350.01 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 364.73 658.10 Td (Company) Tj ET Q q 0 0 0 rg BT 402.96 658.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (During ) Tj ET Q q 0 0 0 rg BT 80.75 634.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 105.14 634.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 128.67 634.10 Td (declared ) Tj ET Q q 0 0 0 rg BT 164.95 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 181.81 634.10 Td (paid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.45 634.10 Td ($2.1 ) Tj ET Q q 0 0 0 rg BT 221.37 634.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.27 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 252.69 634.10 Td (in ) Tj ET Q q 0 0 0 rg BT 262.89 634.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 304.20 634.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 333.26 634.10 Td (through ) Tj ET Q q 0 0 0 rg BT 366.79 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 381.43 634.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 420.49 634.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 447.90 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 458.10 634.10 Td (Kingsway) Tj ET Q q 0 0 0 rg BT 498.01 634.10 Td (, ) Tj ET Q q 0 0 0 rg BT 502.93 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.57 634.10 Td (cumulative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 82.50 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 92.77 622.10 Td (which ) Tj ET Q q 0 0 0 rg BT 119.71 622.10 Td (they ) Tj ET Q q 0 0 0 rg BT 139.43 622.10 Td (were ) Tj ET Q q 0 0 0 rg BT 161.36 622.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 193.85 622.10 Td (through ) Tj ET Q q 0 0 0 rg BT 227.46 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 242.17 622.10 Td (end ) Tj ET Q q 0 0 0 rg BT 259.11 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 269.94 622.10 Td (July ) Tj ET Q q 0 0 0 rg BT 289.11 622.10 Td (2013. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (On ) Tj ET Q q 0 0 0 rg BT 65.42 598.10 Td (August ) Tj ET Q q 0 0 0 rg BT 98.41 598.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 110.01 598.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 135.70 598.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 160.91 598.10 Td (repurchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.32 598.10 Td (18,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.32 598.10 Td ( ) Tj ET Q q 0 0 0 rg BT 262.42 598.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 303.15 598.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 332.24 598.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 363.00 598.10 Td (by ) Tj ET Q q 0 0 0 rg BT 377.10 598.10 Td (Kingsway ) Tj ET Q q 0 0 0 rg BT 421.75 598.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 460.29 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 472.17 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 488.48 598.10 Td (Share ) Tj ET Q q 0 0 0 rg BT 515.35 598.10 Td (Repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 98.87 586.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 122.48 586.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 159.96 586.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.89 586.10 Td ($1.8 ) Tj ET Q q 0 0 0 rg BT 186.89 586.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.79 586.10 Td ( ) Tj ET Q q 0 0 0 rg BT 218.29 586.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 248.55 586.10 Td (related ) Tj ET Q q 0 0 0 rg BT 278.25 586.10 Td (to ) Tj ET Q q 0 0 0 rg BT 288.53 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 303.25 586.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 339.63 586.10 Td (on ) Tj ET Q q 0 0 0 rg BT 352.13 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 366.85 586.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 412.66 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 423.49 586.10 Td (these ) Tj ET Q q 0 0 0 rg BT 446.53 586.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 474.02 586.10 Td (from ) Tj ET Q q 0 0 0 rg BT 495.96 586.10 Td (Kingsway) Tj ET Q q 0 0 0 rg BT 535.86 586.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (On ) Tj ET Q q 0 0 0 rg BT 65.17 562.10 Td (October ) Tj ET Q q 0 0 0 rg BT 100.32 562.10 Td (18, ) Tj ET Q q 0 0 0 rg BT 115.76 562.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 138.70 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 156.08 562.10 Td (on ) Tj ET Q q 0 0 0 rg BT 169.03 562.10 Td (November ) Tj ET Q q 0 0 0 rg BT 214.18 562.10 Td (13, ) Tj ET Q q 0 0 0 rg BT 229.62 562.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 255.06 562.10 Td (Kingsway ) Tj ET Q q 0 0 0 rg BT 298.56 562.10 Td (notified ) Tj ET Q q 0 0 0 rg BT 332.61 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 347.77 562.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 389.60 562.10 Td (that ) Tj ET Q q 0 0 0 rg BT 407.54 562.10 Td (it ) Tj ET Q q 0 0 0 rg BT 416.04 562.10 Td (had ) Tj ET Q q 0 0 0 rg BT 433.42 562.10 Td (sold ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.03 562.10 Td (529,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.53 562.10 Td ( ) Tj ET Q q 0 0 0 rg BT 488.47 562.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.86 562.10 Td (600,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.36 562.10 Td ( ) Tj ET Q q 0 0 0 rg BT 541.30 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 552.57 562.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 89.06 550.10 Td (common ) Tj ET Q q 0 0 0 rg BT 125.92 550.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 155.28 550.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 202.94 550.10 Td (, ) Tj ET Q q 0 0 0 rg BT 207.30 550.10 Td (bringing ) Tj ET Q q 0 0 0 rg BT 243.05 550.10 Td (its ) Tj ET Q q 0 0 0 rg BT 254.36 550.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 293.43 550.10 Td (common ) Tj ET Q q 0 0 0 rg BT 330.28 550.10 Td (share ) Tj ET Q q 0 0 0 rg BT 353.24 550.10 Td (count ) Tj ET Q q 0 0 0 rg BT 377.32 550.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.97 550.10 Td (132,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.47 550.10 Td ( ) Tj ET Q q 0 0 0 rg BT 421.33 550.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.52 550.10 Td (1.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.35 550.10 Td ( ) Tj ET Q q 0 0 0 rg BT 454.21 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 464.41 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 478.49 550.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 527.01 550.10 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 77.49 538.10 Td (as ) Tj ET Q q 0 0 0 rg BT 88.32 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 99.15 538.10 Td (December ) Tj ET Q q 0 0 0 rg BT 142.73 538.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 157.73 538.10 Td (2013. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (During ) Tj ET Q q 0 0 0 rg BT 80.82 514.10 Td (2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.82 514.10 Td (1,327,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.82 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 148.31 514.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 185.24 514.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.17 514.10 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.67 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 227.16 514.10 Td (options ) Tj ET Q q 0 0 0 rg BT 259.10 514.10 Td (were ) Tj ET Q q 0 0 0 rg BT 281.03 514.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 321.28 514.10 Td (which ) Tj ET Q q 0 0 0 rg BT 348.21 514.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 382.36 514.10 Td (in ) Tj ET Q q 0 0 0 rg BT 392.63 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 407.34 514.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 443.71 514.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.54 514.10 Td (1,328,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.54 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 497.03 514.10 Td (common ) Tj ET Q q 0 0 0 rg BT 534.52 514.10 Td (shares. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (On ) Tj ET Q q 0 0 0 rg BT 65.30 490.10 Td (May ) Tj ET Q q 0 0 0 rg BT 86.70 490.10 Td (13, ) Tj ET Q q 0 0 0 rg BT 102.28 490.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 127.86 490.10 Td (an ) Tj ET Q q 0 0 0 rg BT 140.37 490.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 182.31 490.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.72 490.10 Td (2,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.72 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 236.11 490.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 260.30 490.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 297.25 490.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 325.32 490.10 Td (were ) Tj ET Q q 0 0 0 rg BT 347.82 490.10 Td (of) Tj ET Q q 0 0 0 rg BT 355.97 490.10 Td (fered ) Tj ET Q q 0 0 0 rg BT 379.58 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 390.44 490.10 Td (a ) Tj ET Q q 0 0 0 rg BT 397.95 490.10 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 445.47 490.10 Td (public ) Tj ET Q q 0 0 0 rg BT 473.54 490.10 Td (of) Tj ET Q q 0 0 0 rg BT 481.69 490.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 508.64 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 519.50 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 534.79 490.10 Td (United ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (States ) Tj ET Q q 0 0 0 rg BT 78.78 478.10 Td (at ) Tj ET Q q 0 0 0 rg BT 90.88 478.10 Td (a ) Tj ET Q q 0 0 0 rg BT 100.21 478.10 Td (price ) Tj ET Q q 0 0 0 rg BT 125.09 478.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.31 478.10 Td ($12.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.81 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 170.70 478.10 Td (per ) Tj ET Q q 0 0 0 rg BT 188.35 478.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 215.76 478.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 241.76 478.10 Td (also ) Tj ET Q q 0 0 0 rg BT 262.76 478.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 297.63 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 314.74 478.10 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 370.17 478.10 Td (an ) Tj ET Q q 0 0 0 rg BT 384.50 478.10 Td (option ) Tj ET Q q 0 0 0 rg BT 414.94 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 427.61 478.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 468.04 478.10 Td (up ) Tj ET Q q 0 0 0 rg BT 482.93 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 495.59 478.10 Td (an ) Tj ET Q q 0 0 0 rg BT 509.92 478.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 553.67 478.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (300,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 466.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 127.52 466.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 155.05 466.10 Td (at ) Tj ET Q q 0 0 0 rg BT 164.80 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 179.55 466.10 Td (public ) Tj ET Q q 0 0 0 rg BT 207.08 466.10 Td (of) Tj ET Q q 0 0 0 rg BT 215.23 466.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 241.64 466.10 Td (price ) Tj ET Q q 0 0 0 rg BT 264.16 466.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.02 466.10 Td ($12.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.52 466.10 Td ( ) Tj ET Q q 0 0 0 rg BT 305.06 466.10 Td (per ) Tj ET Q q 0 0 0 rg BT 320.36 466.10 Td (share ) Tj ET Q q 0 0 0 rg BT 343.99 466.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.31 466.10 Td (cover ) Tj ET Q q 0 0 0 rg BT 379.05 466.10 Td (over) Tj ET Q q 0 0 0 rg BT 396.62 466.10 Td (-allotments, ) Tj ET Q q 0 0 0 rg BT 446.64 466.10 Td (if ) Tj ET Q q 0 0 0 rg BT 455.28 466.10 Td (any) Tj ET Q q 0 0 0 rg BT 469.07 466.10 Td (. ) Tj ET Q q 0 0 0 rg BT 474.11 466.10 Td (On ) Tj ET Q q 0 0 0 rg BT 488.86 466.10 Td (May ) Tj ET Q q 0 0 0 rg BT 509.73 466.10 Td (27, ) Tj ET Q q 0 0 0 rg BT 524.76 466.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 549.79 466.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (underwriters ) Tj ET Q q 0 0 0 rg BT 104.27 454.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 145.76 454.10 Td (this ) Tj ET Q q 0 0 0 rg BT 163.95 454.10 Td (option ) Tj ET Q q 0 0 0 rg BT 193.24 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 211.41 454.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 255.68 454.10 Td (an ) Tj ET Q q 0 0 0 rg BT 268.86 454.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.58 454.10 Td (161,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.08 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 348.82 454.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 379.22 454.10 Td (After ) Tj ET Q q 0 0 0 rg BT 404.05 454.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 459.44 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 477.62 454.10 Td (other ) Tj ET Q q 0 0 0 rg BT 501.90 454.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 544.23 454.10 Td (total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 87.76 442.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.32 442.10 Td ($25.0 ) Tj ET Q q 0 0 0 rg BT 123.04 442.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.94 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 154.16 442.10 Td (were ) Tj ET Q q 0 0 0 rg BT 175.82 442.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 209.68 442.10 Td (on ) Tj ET Q q 0 0 0 rg BT 221.91 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 236.35 442.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 272.45 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 283.01 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 297.45 442.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 326.67 442.10 Td (A) Tj ET Q q 0 0 0 rg BT 333.34 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 335.57 442.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 366.68 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 377.24 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 391.68 442.10 Td (net ) Tj ET Q q 0 0 0 rg BT 406.12 442.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 443.89 442.10 Td (from ) Tj ET Q q 0 0 0 rg BT 465.55 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.99 442.10 Td (of) Tj ET Q q 0 0 0 rg BT 488.14 442.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 514.24 442.10 Td (will ) Tj ET Q q 0 0 0 rg BT 532.03 442.10 Td (be ) Tj ET Q q 0 0 0 rg BT 543.69 442.10 Td (used ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 430.10 Td (support ) Tj ET Q q 0 0 0 rg BT 92.78 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 107.50 430.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 153.88 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.16 430.10 Td (Anchor ) Tj ET Q q 0 0 0 rg BT 196.65 430.10 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 235.82 430.10 Td (Group, ) Tj ET Q q 0 0 0 rg BT 266.37 430.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 284.14 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 301.07 430.10 Td (its ) Tj ET Q q 0 0 0 rg BT 313.02 430.10 Td (af) Tj ET Q q 0 0 0 rg BT 320.61 430.10 Td (filiated ) Tj ET Q q 0 0 0 rg BT 351.43 430.10 Td (entities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.86 406.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 110.71 406.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 159.68 406.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 198.62 406.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 225.92 406.10 Td (are ) Tj ET Q q 0 0 0 rg BT 240.44 406.10 Td (not ) Tj ET Q q 0 0 0 rg BT 255.53 406.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 287.82 406.10 Td (to ) Tj ET Q q 0 0 0 rg BT 297.91 406.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 317.44 406.10 Td (and ) Tj ET Q q 0 0 0 rg BT 334.18 406.10 Td (are ) Tj ET Q q 0 0 0 rg BT 348.70 406.10 Td (beneficially ) Tj ET Q q 0 0 0 rg BT 398.21 406.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 427.17 406.10 Td (or ) Tj ET Q q 0 0 0 rg BT 437.81 406.10 Td (controlled ) Tj ET Q q 0 0 0 rg BT 480.66 406.10 Td (by ) Tj ET Q q 0 0 0 rg BT 492.97 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.50 406.10 Td (former ) Tj ET Q q 0 0 0 rg BT 537.01 406.10 Td (owner ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.29 394.10 Td (Camelot ) Tj ET Q q 0 0 0 rg BT 96.13 394.10 Td (Services, ) Tj ET Q q 0 0 0 rg BT 134.46 394.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 151.69 394.10 Td (as ) Tj ET Q q 0 0 0 rg BT 161.97 394.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.26 394.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 230.30 394.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.30 394.10 Td (. ) Tj ET Q q 0 0 0 rg BT 254.76 394.10 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 293.91 394.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 346.41 394.10 Td (are ) Tj ET Q q 0 0 0 rg BT 360.57 394.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 392.52 394.10 Td (to ) Tj ET Q q 0 0 0 rg BT 402.25 394.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 443.10 394.10 Td (on ) Tj ET Q q 0 0 0 rg BT 455.05 394.10 Td (a ) Tj ET Q q 0 0 0 rg BT 461.45 394.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 507.83 394.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 529.79 394.10 Td (whether ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.77 382.10 Td (not ) Tj ET Q q 0 0 0 rg BT 75.98 382.10 Td (declared ) Tj ET Q q 0 0 0 rg BT 112.28 382.10 Td (by ) Tj ET Q q 0 0 0 rg BT 124.71 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 139.37 382.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 166.24 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 177.00 382.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 216.65 382.10 Td (at ) Tj ET Q q 0 0 0 rg BT 226.30 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 240.95 382.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 258.37 382.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.14 382.10 Td ($0.045) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.64 382.10 Td ( ) Tj ET Q q 0 0 0 rg BT 299.07 382.10 Td (per ) Tj ET Q q 0 0 0 rg BT 314.28 382.10 Td (share ) Tj ET Q q 0 0 0 rg BT 337.81 382.10 Td (per ) Tj ET Q q 0 0 0 rg BT 353.02 382.10 Td (year ) Tj ET Q q 0 0 0 rg BT 372.66 382.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.99 382.10 Td (4.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.82 382.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 402.58 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 419.46 382.10 Td (may ) Tj ET Q q 0 0 0 rg BT 439.11 382.10 Td (be ) Tj ET Q q 0 0 0 rg BT 450.99 382.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 470.64 382.10 Td (in ) Tj ET Q q 0 0 0 rg BT 480.85 382.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 501.06 382.10 Td (or ) Tj ET Q q 0 0 0 rg BT 511.82 382.10 Td (in ) Tj ET Q q 0 0 0 rg BT 522.04 382.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 88.52 370.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 115.39 370.10 Td (at ) Tj ET Q q 0 0 0 rg BT 124.48 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 138.58 370.10 Td (option ) Tj ET Q q 0 0 0 rg BT 166.02 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 175.81 370.10 Td (Atlas. ) Tj ET Q q 0 0 0 rg BT 201.30 370.10 Td (In ) Tj ET Q q 0 0 0 rg BT 211.51 370.10 Td (liquidation, ) Tj ET Q q 0 0 0 rg BT 259.22 370.10 Td (dissolution ) Tj ET Q q 0 0 0 rg BT 305.00 370.10 Td (or ) Tj ET Q q 0 0 0 rg BT 315.21 370.10 Td (winding-up ) Tj ET Q q 0 0 0 rg BT 363.19 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 372.99 370.10 Td (Atlas, ) Tj ET Q q 0 0 0 rg BT 398.48 370.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 436.99 370.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 489.41 370.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 520.15 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 534.25 370.10 Td (greater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.64 358.10 Td ($1.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.14 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.45 358.10 Td (per ) Tj ET Q q 0 0 0 rg BT 100.52 358.10 Td (share ) Tj ET Q q 0 0 0 rg BT 123.93 358.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 142.91 358.10 Td (all ) Tj ET Q q 0 0 0 rg BT 155.21 358.10 Td (declared ) Tj ET Q q 0 0 0 rg BT 191.38 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 208.13 358.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 237.66 358.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 278.85 358.10 Td (or ) Tj ET Q q 0 0 0 rg BT 289.49 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 304.02 358.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 336.32 358.10 Td (it ) Tj ET Q q 0 0 0 rg BT 344.19 358.10 Td (would ) Tj ET Q q 0 0 0 rg BT 371.49 358.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 402.67 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 412.75 358.10 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 458.39 358.10 Td (if ) Tj ET Q q 0 0 0 rg BT 466.81 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 481.33 358.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 520.28 358.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 547.58 358.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (been ) Tj ET Q q 0 0 0 rg BT 71.08 346.10 Td (converted ) Tj ET Q q 0 0 0 rg BT 112.70 346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 122.68 346.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 162.08 346.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 189.84 346.10 Td (common ) Tj ET Q q 0 0 0 rg BT 227.03 346.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 254.22 346.10 Td (or ) Tj ET Q q 0 0 0 rg BT 264.75 346.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 300.83 346.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 328.58 346.10 Td (common ) Tj ET Q q 0 0 0 rg BT 365.78 346.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 392.97 346.10 Td (immediately ) Tj ET Q q 0 0 0 rg BT 445.15 346.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 466.79 346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 476.77 346.10 Td (liquidation. ) Tj ET Q q 0 0 0 rg BT 524.80 346.10 Td (Preferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 77.44 334.10 Td (are ) Tj ET Q q 0 0 0 rg BT 92.10 334.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 139.54 334.10 Td (into ) Tj ET Q q 0 0 0 rg BT 157.55 334.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 193.88 334.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 221.89 334.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 249.33 334.10 Td (at ) Tj ET Q q 0 0 0 rg BT 259.00 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.67 334.10 Td (option ) Tj ET Q q 0 0 0 rg BT 301.68 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 312.47 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.14 334.10 Td (holder ) Tj ET Q q 0 0 0 rg BT 355.14 334.10 Td (at ) Tj ET Q q 0 0 0 rg BT 364.81 334.10 Td (any ) Tj ET Q q 0 0 0 rg BT 381.70 334.10 Td (date ) Tj ET Q q 0 0 0 rg BT 400.81 334.10 Td (after ) Tj ET Q q 0 0 0 rg BT 421.58 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 436.25 334.10 Td (fifth ) Tj ET Q q 0 0 0 rg BT 455.92 334.10 Td (year ) Tj ET Q q 0 0 0 rg BT 475.58 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 486.36 334.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 522.70 334.10 Td (at ) Tj ET Q q 0 0 0 rg BT 532.37 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 547.04 334.10 Td (rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.53 322.10 Td (0.1270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.03 322.10 Td ( ) Tj ET Q q 0 0 0 rg BT 92.24 322.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 129.32 322.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 158.08 322.10 Td (common ) Tj ET Q q 0 0 0 rg BT 196.28 322.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 224.48 322.10 Td (for ) Tj ET Q q 0 0 0 rg BT 239.34 322.10 Td (each ) Tj ET Q q 0 0 0 rg BT 260.86 322.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 300.70 322.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 327.27 322.10 Td (The ) Tj ET Q q 0 0 0 rg BT 346.02 322.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 393.11 322.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 411.30 322.10 Td (is ) Tj ET Q q 0 0 0 rg BT 421.17 322.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 452.70 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 463.68 322.10 Td (change ) Tj ET Q q 0 0 0 rg BT 495.20 322.10 Td (if ) Tj ET Q q 0 0 0 rg BT 504.52 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 519.94 322.10 Td (number ) Tj ET Q q 0 0 0 rg BT 553.69 322.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 86.76 310.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 115.20 310.10 Td (common ) Tj ET Q q 0 0 0 rg BT 153.08 310.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 180.95 310.10 Td (or ) Tj ET Q q 0 0 0 rg BT 192.16 310.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 232.25 310.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 260.68 310.10 Td (common ) Tj ET Q q 0 0 0 rg BT 298.56 310.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 326.43 310.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 361.52 310.10 Td (as ) Tj ET Q q 0 0 0 rg BT 372.74 310.10 Td (a ) Tj ET Q q 0 0 0 rg BT 380.06 310.10 Td (result ) Tj ET Q q 0 0 0 rg BT 405.16 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 416.37 310.10 Td (proportional ) Tj ET Q q 0 0 0 rg BT 468.68 310.10 Td (share ) Tj ET Q q 0 0 0 rg BT 492.67 310.10 Td (events, ) Tj ET Q q 0 0 0 rg BT 523.59 310.10 Td (e.g. ) Tj ET Q q 0 0 0 rg BT 540.92 310.10 Td (share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (consolidation. ) Tj ET Q q 0 0 0 rg BT 109.15 298.10 Td ( ) Tj ET Q q 0 0 0 rg BT 111.71 298.10 Td (The ) Tj ET Q q 0 0 0 rg BT 130.02 298.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 169.42 298.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 197.17 298.10 Td (are ) Tj ET Q q 0 0 0 rg BT 212.14 298.10 Td (redeemable ) Tj ET Q q 0 0 0 rg BT 260.99 298.10 Td (at ) Tj ET Q q 0 0 0 rg BT 270.97 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 285.95 298.10 Td (option ) Tj ET Q q 0 0 0 rg BT 314.27 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 324.75 298.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 348.62 298.10 Td (at ) Tj ET Q q 0 0 0 rg BT 358.60 298.10 Td (a ) Tj ET Q q 0 0 0 rg BT 365.81 298.10 Td (price ) Tj ET Q q 0 0 0 rg BT 388.56 298.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 298.10 Td ($1.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.15 298.10 Td ( ) Tj ET Q q 0 0 0 rg BT 424.91 298.10 Td (per ) Tj ET Q q 0 0 0 rg BT 440.45 298.10 Td (share ) Tj ET Q q 0 0 0 rg BT 464.31 298.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 483.74 298.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 517.59 298.10 Td (and ) Tj ET Q q 0 0 0 rg BT 534.79 298.10 Td (unpaid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 91.39 286.10 Td (commencing ) Tj ET Q q 0 0 0 rg BT 145.54 286.10 Td (at ) Tj ET Q q 0 0 0 rg BT 155.25 286.10 Td (two ) Tj ET Q q 0 0 0 rg BT 172.75 286.10 Td (years ) Tj ET Q q 0 0 0 rg BT 196.35 286.10 Td (from ) Tj ET Q q 0 0 0 rg BT 218.29 286.10 Td (January ) Tj ET Q q 0 0 0 rg BT 251.89 286.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 261.89 286.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 284.39 286.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 302.44 286.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 338.81 286.10 Td (date ) Tj ET Q q 0 0 0 rg BT 357.97 286.10 Td (of ) Tj ET Q q 0 0 0 rg BT 368.80 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 383.52 286.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 422.65 286.10 Td (shares\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.83 262.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 114.55 262.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 146.83 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 157.44 262.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 198.61 262.10 Td (to ) Tj ET Q q 0 0 0 rg BT 208.68 262.10 Td (which ) Tj ET Q q 0 0 0 rg BT 235.40 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.90 262.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 288.82 262.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 341.65 262.10 Td (are ) Tj ET Q q 0 0 0 rg BT 356.14 262.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 388.41 262.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 410.70 262.10 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 456.31 262.10 Td (or ) Tj ET Q q 0 0 0 rg BT 466.93 262.10 Td (sooner) Tj ET Q q 0 0 0 rg BT 493.19 262.10 Td (, ) Tj ET Q q 0 0 0 rg BT 497.97 262.10 Td (if ) Tj ET Q q 0 0 0 rg BT 505.86 262.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 529.26 262.10 Td (declares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (dividends, ) Tj ET Q q 0 0 0 rg BT 93.89 250.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.06 250.10 Td ($184,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.56 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.06 250.10 Td (as ) Tj ET Q q 0 0 0 rg BT 153.89 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.72 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 179.43 250.10 Td (year ) Tj ET Q q 0 0 0 rg BT 199.14 250.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 225.52 250.10 Td (December ) Tj ET Q q 0 0 0 rg BT 269.10 250.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 284.10 250.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.10 250.10 Td (, ) Tj ET Q q 0 0 0 rg BT 309.10 250.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.93 250.10 Td ($0.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.43 250.10 Td ( ) Tj ET Q q 0 0 0 rg BT 344.93 250.10 Td (per ) Tj ET Q q 0 0 0 rg BT 360.20 250.10 Td (common ) Tj ET Q q 0 0 0 rg BT 397.70 250.10 Td (share.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 231.30 Td (15. DEFERRED POLICY) Tj ET Q q 0 0 0 rg BT 179.03 231.30 Td ( ) Tj ET Q q 0 0 0 rg BT 180.97 231.30 Td (ACQUISITION COSTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.30 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 88.03 214.30 Td (policy ) Tj ET Q q 0 0 0 rg BT 115.52 214.30 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 161.90 214.30 Td (costs ) Tj ET Q q 0 0 0 rg BT 184.40 214.30 Td (for ) Tj ET Q q 0 0 0 rg BT 198.56 214.30 Td (the ) Tj ET Q q 0 0 0 rg BT 213.28 214.30 Td (years ) Tj ET Q q 0 0 0 rg BT 236.88 214.30 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.26 214.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 321.84 214.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.84 214.30 Td ( ) Tj ET Q q 0 0 0 rg BT 344.34 214.30 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.28 214.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 419.86 214.30 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.86 214.30 Td ( ) Tj ET Q q 0 0 0 rg BT 442.36 214.30 Td (\(in ) Tj ET Q q 0 0 0 rg BT 455.97 214.30 Td ('000s\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 198.80 368.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 198.80 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 198.80 5.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 198.80 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 169.80 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 169.80 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 169.80 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 169.80 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 139.80 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 139.80 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 139.80 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 139.80 72.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 198.79999999999995 m 485.5 198.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 198.79999999999995 m 490.5 198.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 184.79999999999995 m 490.5 184.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 198.79999999999995 m 562.5 198.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 184.79999999999995 m 562.5 184.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 184.79999999999995 m 485.5 184.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 184.79999999999995 m 490.5 184.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 184.79999999999995 m 562.5 184.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 139.79999999999995 m 485.5 139.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 139.79999999999995 m 490.5 139.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 139.79999999999995 m 562.5 139.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 139.79999999999995 m 485.5 139.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 125.79999999999995 m 485.5 125.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 123.79999999999995 m 485.5 123.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 139.79999999999995 m 490.5 139.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 125.79999999999995 m 490.5 125.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 123.79999999999995 m 490.5 123.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 139.79999999999995 m 562.5 139.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 125.79999999999995 m 562.5 125.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 123.79999999999995 m 562.5 123.79999999999995 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.50 189.48 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.00 189.48 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 174.47 Td (Balance, beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 174.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 174.47 Td (6,674) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 174.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 174.47 Td (3,764) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 159.47 Td (Acquisition costs deferred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 159.47 Td (15,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 159.47 Td (13,283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 144.47 Td (Amortization charged to income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 144.47 Td (14,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 144.47 Td (10,373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 129.47 Td (Balance, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 129.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 129.47 Td (8,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 129.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 129.47 Td (6,674) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 101.50 Td (16. RELA) Tj ET Q q 0 0 0 rg BT 110.04 101.50 Td (TED P) Tj ET Q q 0 0 0 rg BT 138.47 101.50 Td (AR) Tj ET Q q 0 0 0 rg BT 152.56 101.50 Td (TY) Tj ET Q q 0 0 0 rg BT 166.08 101.50 Td ( ) Tj ET Q q 0 0 0 rg BT 168.40 101.50 Td (TRANSACTIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.50 Td (The ) Tj ET Q q 0 0 0 rg BT 68.29 84.50 Td (business ) Tj ET Q q 0 0 0 rg BT 104.93 84.50 Td (of ) Tj ET Q q 0 0 0 rg BT 115.40 84.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 139.25 84.50 Td (is ) Tj ET Q q 0 0 0 rg BT 148.66 84.50 Td (carried ) Tj ET Q q 0 0 0 rg BT 179.16 84.50 Td (on ) Tj ET Q q 0 0 0 rg BT 191.90 84.50 Td (through ) Tj ET Q q 0 0 0 rg BT 225.76 84.50 Td (its ) Tj ET Q q 0 0 0 rg BT 237.95 84.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 279.01 84.50 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 330.86 84.50 Td (Atlas) Tj ET Q q 0 0 0 rg BT 354.56 84.50 Td ( ) Tj ET Q q 0 0 0 rg BT 357.30 84.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 398.36 84.50 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 448.33 84.50 Td (have ) Tj ET Q q 0 0 0 rg BT 469.95 84.50 Td (been ) Tj ET Q q 0 0 0 rg BT 491.57 84.50 Td (a ) Tj ET Q q 0 0 0 rg BT 498.75 84.50 Td (party ) Tj ET Q q 0 0 0 rg BT 522.04 84.50 Td (to ) Tj ET Q q 0 0 0 rg BT 532.56 84.50 Td (various ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.50 Td (transactions ) Tj ET Q q 0 0 0 rg BT 101.27 72.50 Td (with ) Tj ET Q q 0 0 0 rg BT 122.56 72.50 Td (af) Tj ET Q q 0 0 0 rg BT 130.15 72.50 Td (filiates ) Tj ET Q q 0 0 0 rg BT 160.87 72.50 Td (in ) Tj ET Q q 0 0 0 rg BT 172.15 72.50 Td (the ) Tj ET Q q 0 0 0 rg BT 187.88 72.50 Td (past, ) Tj ET Q q 0 0 0 rg BT 210.00 72.50 Td (although ) Tj ET Q q 0 0 0 rg BT 248.50 72.50 Td (activity ) Tj ET Q q 0 0 0 rg BT 282.00 72.50 Td (in ) Tj ET Q q 0 0 0 rg BT 293.28 72.50 Td (this ) Tj ET Q q 0 0 0 rg BT 311.24 72.50 Td (regard ) Tj ET Q q 0 0 0 rg BT 340.29 72.50 Td (has ) Tj ET Q q 0 0 0 rg BT 357.12 72.50 Td (diminished ) Tj ET Q q 0 0 0 rg BT 405.08 72.50 Td (over ) Tj ET Q q 0 0 0 rg BT 426.35 72.50 Td (time. ) Tj ET Q q 0 0 0 rg BT 450.13 72.50 Td ( ) Tj ET Q q 0 0 0 rg BT 453.64 72.50 Td (Related ) Tj ET Q q 0 0 0 rg BT 487.69 72.50 Td (party ) Tj ET Q q 0 0 0 rg BT 511.75 72.50 Td (transactions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.50 Td (including ) Tj ET Q q 0 0 0 rg BT 90.07 60.50 Td (services ) Tj ET Q q 0 0 0 rg BT 124.58 60.50 Td (provided ) Tj ET Q q 0 0 0 rg BT 162.43 60.50 Td (to ) Tj ET Q q 0 0 0 rg BT 172.50 60.50 Td (or ) Tj ET Q q 0 0 0 rg BT 183.13 60.50 Td (received ) Tj ET Q q 0 0 0 rg BT 219.30 60.50 Td (by ) Tj ET Q q 0 0 0 rg BT 231.09 60.50 Td (Atlas) Tj ET Q q 0 0 0 rg BT 254.79 60.50 Td ( ) Tj ET Q q 0 0 0 rg BT 257.08 60.50 Td (insurance ) Tj ET Q q 0 0 0 rg BT 297.70 60.50 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 349.72 60.50 Td (are ) Tj ET Q q 0 0 0 rg BT 364.22 60.50 Td (carried ) Tj ET Q q 0 0 0 rg BT 394.28 60.50 Td (out ) Tj ET Q q 0 0 0 rg BT 409.36 60.50 Td (in ) Tj ET Q q 0 0 0 rg BT 419.43 60.50 Td (the ) Tj ET Q q 0 0 0 rg BT 433.95 60.50 Td (normal ) Tj ET Q q 0 0 0 rg BT 464.58 60.50 Td (course ) Tj ET Q q 0 0 0 rg BT 492.97 60.50 Td (of ) Tj ET Q q 0 0 0 rg BT 503.60 60.50 Td (operations ) Tj ET Q q 0 0 0 rg BT 547.56 60.50 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 48.50 Td (are ) Tj ET Q q 0 0 0 rg BT 65.08 48.50 Td (measured ) Tj ET Q q 0 0 0 rg BT 106.27 48.50 Td (at ) Tj ET Q q 0 0 0 rg BT 116.36 48.50 Td (the ) Tj ET Q q 0 0 0 rg BT 131.45 48.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 164.32 48.50 Td (of ) Tj ET Q q 0 0 0 rg BT 175.52 48.50 Td (consideration ) Tj ET Q q 0 0 0 rg BT 232.27 48.50 Td (paid ) Tj ET Q q 0 0 0 rg BT 252.36 48.50 Td (or ) Tj ET Q q 0 0 0 rg BT 263.56 48.50 Td (received ) Tj ET Q q 0 0 0 rg BT 300.30 48.50 Td (as ) Tj ET Q q 0 0 0 rg BT 311.50 48.50 Td (established ) Tj ET Q q 0 0 0 rg BT 358.81 48.50 Td (and ) Tj ET Q q 0 0 0 rg BT 376.12 48.50 Td (agreed ) Tj ET Q q 0 0 0 rg BT 405.64 48.50 Td (upon ) Tj ET Q q 0 0 0 rg BT 428.51 48.50 Td (by ) Tj ET Q q 0 0 0 rg BT 441.39 48.50 Td (the ) Tj ET Q q 0 0 0 rg BT 456.48 48.50 Td (parties. ) Tj ET Q q 0 0 0 rg BT 488.51 48.50 Td ( ) Tj ET Q q 0 0 0 rg BT 491.38 48.50 Td (Such ) Tj ET Q q 0 0 0 rg BT 514.25 48.50 Td (transactions ) Tj ET Q endstream endobj 153 0 obj <> endobj 154 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (typically ) Tj ET Q q 0 0 0 rg BT 86.65 742.10 Td (include ) Tj ET Q q 0 0 0 rg BT 117.75 742.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 145.51 742.10 Td (handling ) Tj ET Q q 0 0 0 rg BT 182.17 742.10 Td (services, ) Tj ET Q q 0 0 0 rg BT 218.54 742.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 260.74 742.10 Td (services ) Tj ET Q q 0 0 0 rg BT 294.61 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 310.71 742.10 Td (commission ) Tj ET Q q 0 0 0 rg BT 360.71 742.10 Td (payments. ) Tj ET Q q 0 0 0 rg BT 403.19 742.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 457.06 742.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 491.48 742.10 Td (that ) Tj ET Q q 0 0 0 rg BT 508.14 742.10 Td (consideration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 69.72 730.10 Td (for ) Tj ET Q q 0 0 0 rg BT 83.88 730.10 Td (such ) Tj ET Q q 0 0 0 rg BT 104.71 730.10 Td (services ) Tj ET Q q 0 0 0 rg BT 139.41 730.10 Td (approximates ) Tj ET Q q 0 0 0 rg BT 195.79 730.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 212.16 730.10 Td (value. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 713.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.57 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 70.46 713.10 Td (result ) Tj ET Q q 0 0 0 rg BT 95.13 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 105.91 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 120.58 713.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 159.67 713.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 187.12 713.10 Td (repurchased ) Tj ET Q q 0 0 0 rg BT 237.88 713.10 Td (by ) Tj ET Q q 0 0 0 rg BT 250.33 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 265.00 713.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 306.34 713.10 Td (on ) Tj ET Q q 0 0 0 rg BT 318.25 713.10 Td (August ) Tj ET Q q 0 0 0 rg BT 349.60 713.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 359.55 713.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 382.00 713.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 418.90 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 429.13 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 443.80 713.10 Td (Share ) Tj ET Q q 0 0 0 rg BT 469.02 713.10 Td (Repurchase ) Tj ET Q q 0 0 0 rg BT 517.58 713.10 Td (Agreement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.18 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 80.13 701.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 119.08 701.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 145.81 701.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 164.22 701.10 Td (by ) Tj ET Q q 0 0 0 rg BT 175.96 701.10 Td (Kingsway ) Tj ET Q q 0 0 0 rg BT 218.25 701.10 Td (on ) Tj ET Q q 0 0 0 rg BT 229.99 701.10 Td (October ) Tj ET Q q 0 0 0 rg BT 263.93 701.10 Td (18, ) Tj ET Q q 0 0 0 rg BT 278.17 701.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 299.91 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 316.09 701.10 Td (on ) Tj ET Q q 0 0 0 rg BT 327.83 701.10 Td (November ) Tj ET Q q 0 0 0 rg BT 371.78 701.10 Td (13, ) Tj ET Q q 0 0 0 rg BT 386.02 701.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 409.87 701.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 432.72 701.10 Td (is ) Tj ET Q q 0 0 0 rg BT 441.13 701.10 Td (no ) Tj ET Q q 0 0 0 rg BT 452.87 701.10 Td (longer ) Tj ET Q q 0 0 0 rg BT 480.16 701.10 Td (part ) Tj ET Q q 0 0 0 rg BT 497.44 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 507.51 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.47 701.10 Td (Kingsway ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 689.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 83.06 689.10 Td (company ) Tj ET Q q 0 0 0 rg BT 122.21 689.10 Td (system ) Tj ET Q q 0 0 0 rg BT 152.49 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 169.43 689.10 Td (therefore ) Tj ET Q q 0 0 0 rg BT 208.01 689.10 Td (is ) Tj ET Q q 0 0 0 rg BT 217.18 689.10 Td (not ) Tj ET Q q 0 0 0 rg BT 232.46 689.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 278.28 689.10 Td (a ) Tj ET Q q 0 0 0 rg BT 285.21 689.10 Td (related ) Tj ET Q q 0 0 0 rg BT 314.92 689.10 Td (party ) Tj ET Q q 0 0 0 rg BT 337.96 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 348.24 689.10 Td (Kingsway ) Tj ET Q q 0 0 0 rg BT 391.29 689.10 Td (as ) Tj ET Q q 0 0 0 rg BT 402.12 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 412.95 689.10 Td (December ) Tj ET Q q 0 0 0 rg BT 456.54 689.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 471.54 689.10 Td (2013.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 672.10 Td (During ) Tj ET Q q 0 0 0 rg BT 80.83 672.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 105.82 672.10 Td (a ) Tj ET Q q 0 0 0 rg BT 112.75 672.10 Td (small ) Tj ET Q q 0 0 0 rg BT 136.91 672.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 182.71 672.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.54 672.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.25 672.10 Td (Company) Tj ET Q q 0 0 0 rg BT 249.91 672.10 Td (s ) Tj ET Q q 0 0 0 rg BT 256.30 672.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 302.68 672.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 340.17 672.10 Td (was ) Tj ET Q q 0 0 0 rg BT 358.21 672.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 396.80 672.10 Td (to ) Tj ET Q q 0 0 0 rg BT 407.07 672.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 453.45 672.10 Td (vehicles, ) Tj ET Q q 0 0 0 rg BT 491.21 672.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 530.91 672.10 Td (focused ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 660.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.97 660.10 Td (income ) Tj ET Q q 0 0 0 rg BT 95.38 660.10 Td (generating ) Tj ET Q q 0 0 0 rg BT 140.55 660.10 Td (real-estate, ) Tj ET Q q 0 0 0 rg BT 187.11 660.10 Td (that ) Tj ET Q q 0 0 0 rg BT 205.07 660.10 Td (are ) Tj ET Q q 0 0 0 rg BT 220.25 660.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 266.54 660.10 Td (related-party ) Tj ET Q q 0 0 0 rg BT 320.59 660.10 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 376.33 660.10 Td (In ) Tj ET Q q 0 0 0 rg BT 387.63 660.10 Td (these ) Tj ET Q q 0 0 0 rg BT 411.15 660.10 Td (cases, ) Tj ET Q q 0 0 0 rg BT 437.72 660.10 Td (one ) Tj ET Q q 0 0 0 rg BT 455.13 660.10 Td (or ) Tj ET Q q 0 0 0 rg BT 466.44 660.10 Td (more ) Tj ET Q q 0 0 0 rg BT 489.96 660.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.26 660.10 Td (the ) Tj ET Q q 0 0 0 rg BT 516.45 660.10 Td (Company) Tj ET Q q 0 0 0 rg BT 558.11 660.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 648.10 Td (directors ) Tj ET Q q 0 0 0 rg BT 87.71 648.10 Td (may ) Tj ET Q q 0 0 0 rg BT 107.64 648.10 Td (be ) Tj ET Q q 0 0 0 rg BT 119.80 648.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 153.61 648.10 Td (to ) Tj ET Q q 0 0 0 rg BT 164.11 648.10 Td (control ) Tj ET Q q 0 0 0 rg BT 195.16 648.10 Td (unrelated ) Tj ET Q q 0 0 0 rg BT 235.08 648.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 266.68 648.10 Td (that ) Tj ET Q q 0 0 0 rg BT 284.39 648.10 Td (may ) Tj ET Q q 0 0 0 rg BT 304.33 648.10 Td (invest ) Tj ET Q q 0 0 0 rg BT 330.94 648.10 Td (in ) Tj ET Q q 0 0 0 rg BT 341.44 648.10 Td (these ) Tj ET Q q 0 0 0 rg BT 364.70 648.10 Td (vehicles ) Tj ET Q q 0 0 0 rg BT 400.19 648.10 Td (and ) Tj ET Q q 0 0 0 rg BT 417.34 648.10 Td (may ) Tj ET Q q 0 0 0 rg BT 437.28 648.10 Td (also ) Tj ET Q q 0 0 0 rg BT 456.11 648.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 489.92 648.10 Td (these ) Tj ET Q q 0 0 0 rg BT 513.19 648.10 Td (vehicles. ) Tj ET Q q 0 0 0 rg BT 553.67 648.10 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 636.10 Td (total, ) Tj ET Q q 0 0 0 rg BT 72.77 636.10 Td (such ) Tj ET Q q 0 0 0 rg BT 93.60 636.10 Td (related-party ) Tj ET Q q 0 0 0 rg BT 147.18 636.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 197.46 636.10 Td (were ) Tj ET Q q 0 0 0 rg BT 219.38 636.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 279.64 636.10 Td (1% ) Tj ET Q q 0 0 0 rg BT 295.47 636.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.30 636.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.02 636.10 Td (Company) Tj ET Q q 0 0 0 rg BT 362.69 636.10 Td (s ) Tj ET Q q 0 0 0 rg BT 369.08 636.10 Td (total ) Tj ET Q q 0 0 0 rg BT 389.35 636.10 Td (assets.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 612.30 Td (17. SELECTED QUAR) Tj ET Q q 0 0 0 rg BT 170.45 612.30 Td (TERL) Tj ET Q q 0 0 0 rg BT 196.76 612.30 Td (Y) Tj ET Q q 0 0 0 rg BT 203.61 612.30 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 262.23 612.30 Td ( DA) Tj ET Q q 0 0 0 rg BT 278.43 612.30 Td (T) Tj ET Q q 0 0 0 rg BT 284.36 612.30 Td (A) Tj ET Q q 0 0 0 rg BT 291.03 612.30 Td ( \(UNAUDITED\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 596.80 512.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 564.80 348.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 564.80 41.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 564.80 41.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 564.80 41.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 564.80 41.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 534.80 348.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 534.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 534.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 534.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 534.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 504.80 348.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 504.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 504.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 504.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 504.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 474.80 348.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 474.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 474.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 474.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 474.80 41.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 575.8 m 438.5 575.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 564.8 m 438.5 564.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 575.8 m 479.5 575.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 564.8 m 479.5 564.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 575.8 m 520.5 575.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 564.8 m 520.5 564.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 575.8 m 561.5 575.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 553.8 m 438.5 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 553.8 m 479.5 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 553.8 m 520.5 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 564.8 m 561.5 564.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 553.8 m 561.5 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 553.8 m 438.5 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 553.8 m 479.5 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 553.8 m 520.5 553.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 553.8 m 561.5 553.8 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 580.03 Td (\(in 000s, except per share data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.00 566.58 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.10 555.58 Td (Q4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.10 555.58 Td (Q3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.10 555.58 Td (Q2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.10 555.58 Td (Q1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 539.47 Td (Gross premium written) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.00 539.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.10 539.47 Td (26,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 539.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 539.47 Td (42,046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 539.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.10 539.47 Td (22,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 539.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 539.47 Td (31,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 524.47 Td (Net premium earned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.10 524.47 Td (27,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 524.47 Td (25,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.10 524.47 Td (23,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 524.47 Td (21,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 509.47 Td (Underwriting income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.10 509.47 Td (3,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.10 509.47 Td (2,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 509.47 Td (1,883) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.10 509.47 Td (1,422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 494.47 Td (Net income attributable to Atlas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.10 494.47 Td (9,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.10 494.47 Td (3,493) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 494.47 Td (2,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.10 494.47 Td (2,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 479.47 Td (Net income attributable to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.10 479.47 Td (9,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.10 479.47 Td (3,469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 479.47 Td (2,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.10 479.47 Td (2,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 464.47 Td (Basic earnings per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.00 464.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 464.47 Td (0.80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 464.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 464.47 Td (0.29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 464.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 464.47 Td (0.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 464.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 464.47 Td (0.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 449.47 Td (Diluted earnings per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.00 449.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 449.47 Td (0.77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 449.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 449.47 Td (0.29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 449.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 449.47 Td (0.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 449.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 449.47 Td (0.22) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 434.80 512.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 402.80 348.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 402.80 41.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 402.80 41.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 402.80 41.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 402.80 41.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 373.80 348.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 373.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 373.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 373.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 373.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 343.80 348.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 343.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 343.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 343.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 343.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 313.80 348.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 313.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 313.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 313.80 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.50 313.80 41.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 413.8 m 438.5 413.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 402.8 m 438.5 402.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 413.8 m 479.5 413.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 402.8 m 479.5 402.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 413.8 m 520.5 413.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 402.8 m 520.5 402.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 413.8 m 561.5 413.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 391.8 m 438.5 391.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 391.8 m 479.5 391.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 391.8 m 520.5 391.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 402.8 m 561.5 402.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 391.8 m 561.5 391.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 391.8 m 438.5 391.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 391.8 m 479.5 391.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 391.8 m 520.5 391.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 391.8 m 561.5 391.8 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 418.03 Td (\(in 000s, except per share data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.00 404.58 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.10 393.58 Td (Q4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.10 393.58 Td (Q3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.10 393.58 Td (Q2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.10 393.58 Td (Q1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 378.47 Td (Gross premium written) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.00 378.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.10 378.47 Td (22,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 378.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 378.47 Td (32,075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 378.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.10 378.47 Td (16,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 378.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 378.47 Td (22,354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 363.47 Td (Net premium earned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.10 363.47 Td (20,512) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 363.47 Td (17,976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.10 363.47 Td (16,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 363.47 Td (15,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 348.47 Td (Underwriting income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.10 348.47 Td (1,753) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.10 348.47 Td (1,096) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 348.47 Td (828) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 348.47 Td (298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 333.47 Td (Net income attributable to Atlas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.10 333.47 Td (2,178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.10 333.47 Td (1,699) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 333.47 Td (1,701) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 333.47 Td (602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 318.47 Td (Net income attributable to common shareholders) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.10 318.47 Td (2,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.10 318.47 Td (3,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.10 318.47 Td (1,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 318.47 Td (326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 303.47 Td (Basic earnings per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.00 303.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 303.47 Td (0.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 303.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 303.47 Td (0.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 303.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 303.47 Td (0.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 303.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 303.47 Td (0.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 288.47 Td (Diluted earnings per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.00 288.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 288.47 Td (0.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 288.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 288.47 Td (0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 288.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 288.47 Td (0.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.00 288.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 288.47 Td (0.05) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 253.50 Td (18. COMMITMENTS ) Tj ET Q q 0 0 0 rg BT 164.95 253.50 Td (AND CONTINGENCIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.50 Td (On ) Tj ET Q q 0 0 0 rg BT 65.02 224.50 Td (May ) Tj ET Q q 0 0 0 rg BT 86.16 224.50 Td (22, ) Tj ET Q q 0 0 0 rg BT 101.46 224.50 Td (2012, ) Tj ET Q q 0 0 0 rg BT 126.14 224.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 150.06 224.50 Td (closed ) Tj ET Q q 0 0 0 rg BT 178.40 224.50 Td (the ) Tj ET Q q 0 0 0 rg BT 193.42 224.50 Td (sale ) Tj ET Q q 0 0 0 rg BT 211.77 224.50 Td (of ) Tj ET Q q 0 0 0 rg BT 222.91 224.50 Td (the ) Tj ET Q q 0 0 0 rg BT 237.93 224.50 Td (headquarters ) Tj ET Q q 0 0 0 rg BT 291.81 224.50 Td (building ) Tj ET Q q 0 0 0 rg BT 327.95 224.50 Td (to ) Tj ET Q q 0 0 0 rg BT 338.53 224.50 Td (150 ) Tj ET Q q 0 0 0 rg BT 356.33 224.50 Td (Northwest ) Tj ET Q q 0 0 0 rg BT 400.80 224.50 Td (Point, ) Tj ET Q q 0 0 0 rg BT 427.22 224.50 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 451.41 224.50 Td (a ) Tj ET Q q 0 0 0 rg BT 458.65 224.50 Td (Delaware ) Tj ET Q q 0 0 0 rg BT 499.76 224.50 Td (limited ) Tj ET Q q 0 0 0 rg BT 530.89 224.50 Td (liability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.50 Td (company) Tj ET Q q 0 0 0 rg BT 86.01 212.50 Td (. ) Tj ET Q q 0 0 0 rg BT 90.74 212.50 Td ( ) Tj ET Q q 0 0 0 rg BT 92.48 212.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 115.82 212.50 Td (recognized ) Tj ET Q q 0 0 0 rg BT 161.92 212.50 Td (a ) Tj ET Q q 0 0 0 rg BT 168.59 212.50 Td (gain ) Tj ET Q q 0 0 0 rg BT 188.04 212.50 Td (on ) Tj ET Q q 0 0 0 rg BT 200.28 212.50 Td (the ) Tj ET Q q 0 0 0 rg BT 214.73 212.50 Td (sale ) Tj ET Q q 0 0 0 rg BT 232.51 212.50 Td (of ) Tj ET Q q 0 0 0 rg BT 243.07 212.50 Td (this ) Tj ET Q q 0 0 0 rg BT 259.75 212.50 Td (property ) Tj ET Q q 0 0 0 rg BT 295.86 212.50 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.43 212.50 Td ($213,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.93 212.50 Td (, ) Tj ET Q q 0 0 0 rg BT 348.66 212.50 Td (which ) Tj ET Q q 0 0 0 rg BT 375.33 212.50 Td (will ) Tj ET Q q 0 0 0 rg BT 393.13 212.50 Td (be ) Tj ET Q q 0 0 0 rg BT 404.80 212.50 Td (deferred ) Tj ET Q q 0 0 0 rg BT 440.34 212.50 Td (and ) Tj ET Q q 0 0 0 rg BT 457.01 212.50 Td (recognized ) Tj ET Q q 0 0 0 rg BT 503.11 212.50 Td (over ) Tj ET Q q 0 0 0 rg BT 523.11 212.50 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.56 212.50 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.56 212.50 Td ( ) Tj ET Q q 0 0 0 rg BT 544.79 212.50 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.50 Td (lease ) Tj ET Q q 0 0 0 rg BT 72.76 200.50 Td (term. ) Tj ET Q q 0 0 0 rg BT 96.37 200.50 Td ( ) Tj ET Q q 0 0 0 rg BT 98.53 200.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 122.42 200.50 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.05 200.50 Td ($43,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.55 200.50 Td ( ) Tj ET Q q 0 0 0 rg BT 204.33 200.50 Td (as ) Tj ET Q q 0 0 0 rg BT 215.44 200.50 Td (an ) Tj ET Q q 0 0 0 rg BT 227.66 200.50 Td (of) Tj ET Q q 0 0 0 rg BT 235.80 200.50 Td (fset ) Tj ET Q q 0 0 0 rg BT 253.02 200.50 Td (to ) Tj ET Q q 0 0 0 rg BT 263.58 200.50 Td (rent ) Tj ET Q q 0 0 0 rg BT 281.90 200.50 Td (expense ) Tj ET Q q 0 0 0 rg BT 316.88 200.50 Td (for ) Tj ET Q q 0 0 0 rg BT 331.32 200.50 Td (both ) Tj ET Q q 0 0 0 rg BT 351.88 200.50 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.87 200.50 Td (years ) Tj ET Q q 0 0 0 rg BT 390.75 200.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 417.40 200.50 Td (December ) Tj ET Q q 0 0 0 rg BT 461.26 200.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 476.54 200.50 Td (2014 ) Tj ET Q q 0 0 0 rg BT 499.32 200.50 Td (and ) Tj ET Q q 0 0 0 rg BT 516.53 200.50 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.53 200.50 Td (. ) Tj ET Q q 0 0 0 rg BT 541.61 200.50 Td (T) Tj ET Q q 0 0 0 rg BT 547.02 200.50 Td (otal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.50 Td (rental ) Tj ET Q q 0 0 0 rg BT 75.25 188.50 Td (expense ) Tj ET Q q 0 0 0 rg BT 109.93 188.50 Td (recognized ) Tj ET Q q 0 0 0 rg BT 156.28 188.50 Td (on ) Tj ET Q q 0 0 0 rg BT 168.76 188.50 Td (the ) Tj ET Q q 0 0 0 rg BT 183.46 188.50 Td (headquarters ) Tj ET Q q 0 0 0 rg BT 237.03 188.50 Td (building ) Tj ET Q q 0 0 0 rg BT 272.84 188.50 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.88 188.50 Td ($707,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.38 188.50 Td ( ) Tj ET Q q 0 0 0 rg BT 330.86 188.50 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.78 188.50 Td ($699,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.28 188.50 Td ( ) Tj ET Q q 0 0 0 rg BT 387.76 188.50 Td (for ) Tj ET Q q 0 0 0 rg BT 401.90 188.50 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.60 188.50 Td (years ) Tj ET Q q 0 0 0 rg BT 440.18 188.50 Td (ended ) Tj ET Q q 0 0 0 rg BT 466.54 188.50 Td (December ) Tj ET Q q 0 0 0 rg BT 510.11 188.50 Td (31, ) Tj ET Q q 0 0 0 rg BT 525.09 188.50 Td (2014 ) Tj ET Q q 0 0 0 rg BT 547.57 188.50 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.50 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 176.50 Td (, ) Tj ET Q q 0 0 0 rg BT 75.00 176.50 Td (respectively) Tj ET Q q 0 0 0 rg BT 122.66 176.50 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.50 Td (Atlas has the following future minimum rentals, related principally to of) Tj ET Q q 0 0 0 rg BT 338.92 152.50 Td (fice space, required under operating leases having ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.50 Td (initial or remaining noncancelable lease terms in excess of one year as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.60 140.50 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.19 140.50 Td ( \(all amounts in '000s\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 130.00 71.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 121.50 130.00 73.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 194.50 130.00 73.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 130.00 73.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 130.00 74.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 130.00 74.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 130.00 74.00 -23.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 130 m 121.5 130 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 107 m 121.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 121.5 130 m 194.5 130 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 121.5 107 m 194.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 130 m 267.5 130 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 107 m 267.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 130 m 340.5 130 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 107 m 340.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 130 m 414.5 130 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 107 m 414.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 130 m 488.5 130 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 107 m 488.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 130 m 562.5 130 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 107 m 562.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 121.5 107 m 194.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194.5 107 m 267.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 107 m 340.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 107 m 414.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 107 m 488.5 107 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 107 m 562.5 107 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 76.55 111.45 Td (Year) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.50 111.45 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 221.50 111.45 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 294.50 111.45 Td (2017) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 368.00 111.45 Td (2018) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 421.45 111.45 Td (2019 & Beyond) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 515.15 111.45 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 69.70 96.45 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.00 96.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.15 96.67 Td (1,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 96.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.65 96.67 Td (845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 96.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 96.67 Td (281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.00 96.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 96.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.00 96.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 96.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.00 96.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 96.67 Td (2,312) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 75.50 Td (In ) Tj ET Q q 0 0 0 rg BT 61.58 75.50 Td (the ) Tj ET Q q 0 0 0 rg BT 77.06 75.50 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 114.19 75.50 Td (course ) Tj ET Q q 0 0 0 rg BT 143.54 75.50 Td (of ) Tj ET Q q 0 0 0 rg BT 155.12 75.50 Td (its ) Tj ET Q q 0 0 0 rg BT 167.83 75.50 Td (business, ) Tj ET Q q 0 0 0 rg BT 206.75 75.50 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 231.12 75.50 Td (is ) Tj ET Q q 0 0 0 rg BT 241.04 75.50 Td (involved ) Tj ET Q q 0 0 0 rg BT 279.29 75.50 Td (in ) Tj ET Q q 0 0 0 rg BT 290.32 75.50 Td (legal ) Tj ET Q q 0 0 0 rg BT 313.01 75.50 Td (proceedings, ) Tj ET Q q 0 0 0 rg BT 367.08 75.50 Td (including ) Tj ET Q q 0 0 0 rg BT 408.11 75.50 Td (lawsuits, ) Tj ET Q q 0 0 0 rg BT 446.64 75.50 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 490.99 75.50 Td (examinations ) Tj ET Q q 0 0 0 rg BT 547.57 75.50 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 63.50 Td (inquiries. ) Tj ET Q q 0 0 0 rg BT 90.19 63.50 Td ( ) Tj ET Q q 0 0 0 rg BT 92.88 63.50 Td ( ) Tj ET Q q 0 0 0 rg BT 95.58 63.50 Td (Based ) Tj ET Q q 0 0 0 rg BT 122.71 63.50 Td (on ) Tj ET Q q 0 0 0 rg BT 135.41 63.50 Td (currently ) Tj ET Q q 0 0 0 rg BT 174.19 63.50 Td (available ) Tj ET Q q 0 0 0 rg BT 212.98 63.50 Td (information, ) Tj ET Q q 0 0 0 rg BT 265.38 63.50 Td (the ) Tj ET Q q 0 0 0 rg BT 280.29 63.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 321.88 63.50 Td (does ) Tj ET Q q 0 0 0 rg BT 342.90 63.50 Td (not ) Tj ET Q q 0 0 0 rg BT 358.37 63.50 Td (believe ) Tj ET Q q 0 0 0 rg BT 389.94 63.50 Td (that ) Tj ET Q q 0 0 0 rg BT 407.63 63.50 Td (it ) Tj ET Q q 0 0 0 rg BT 415.88 63.50 Td (is ) Tj ET Q q 0 0 0 rg BT 425.24 63.50 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 471.25 63.50 Td (possible ) Tj ET Q q 0 0 0 rg BT 506.73 63.50 Td (that ) Tj ET Q q 0 0 0 rg BT 524.42 63.50 Td (any ) Tj ET Q q 0 0 0 rg BT 541.55 63.50 Td (of ) Tj ET Q q 0 0 0 rg BT 552.57 63.50 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 51.50 Td (pending ) Tj ET Q q 0 0 0 rg BT 84.72 51.50 Td (legal ) Tj ET Q q 0 0 0 rg BT 106.65 51.50 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 157.47 51.50 Td (will ) Tj ET Q q 0 0 0 rg BT 175.52 51.50 Td (have ) Tj ET Q q 0 0 0 rg BT 196.90 51.50 Td (a ) Tj ET Q q 0 0 0 rg BT 203.84 51.50 Td (material ) Tj ET Q q 0 0 0 rg BT 239.10 51.50 Td (ef) Tj ET Q q 0 0 0 rg BT 246.68 51.50 Td (fect ) Tj ET Q q 0 0 0 rg BT 264.17 51.50 Td (on ) Tj ET Q q 0 0 0 rg BT 276.67 51.50 Td (the ) Tj ET Q q 0 0 0 rg BT 291.39 51.50 Td (Company's ) Tj ET Q q 0 0 0 rg BT 338.47 51.50 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 393.74 51.50 Td (Financial ) Tj ET Q q 0 0 0 rg BT 433.45 51.50 Td (Statements. ) Tj ET Q endstream endobj 155 0 obj <> endobj 156 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 73.99 742.10 Td (is ) Tj ET Q q 0 0 0 rg BT 83.54 742.10 Td (exposed ) Tj ET Q q 0 0 0 rg BT 119.19 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 129.85 742.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 155.50 742.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 173.38 742.10 Td (on ) Tj ET Q q 0 0 0 rg BT 186.27 742.10 Td (balances ) Tj ET Q q 0 0 0 rg BT 223.57 742.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 267.53 742.10 Td (from ) Tj ET Q q 0 0 0 rg BT 289.85 742.10 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 347.17 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 364.49 742.10 Td (reinsurers. ) Tj ET Q q 0 0 0 rg BT 409.30 742.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 437.18 742.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 476.16 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 486.82 742.10 Td (any ) Tj ET Q q 0 0 0 rg BT 504.14 742.10 Td (one ) Tj ET Q q 0 0 0 rg BT 521.46 742.10 Td (individual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 102.98 730.10 Td (is ) Tj ET Q q 0 0 0 rg BT 112.10 730.10 Td (not ) Tj ET Q q 0 0 0 rg BT 127.32 730.10 Td (material. ) Tj ET Q q 0 0 0 rg BT 164.84 730.10 Td (The ) Tj ET Q q 0 0 0 rg BT 182.83 730.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 229.86 730.10 Td (policies, ) Tj ET Q q 0 0 0 rg BT 265.90 730.10 Td (however) Tj ET Q q 0 0 0 rg BT 299.93 730.10 Td (, ) Tj ET Q q 0 0 0 rg BT 304.87 730.10 Td (are ) Tj ET Q q 0 0 0 rg BT 319.52 730.10 Td (distributed ) Tj ET Q q 0 0 0 rg BT 364.74 730.10 Td (by ) Tj ET Q q 0 0 0 rg BT 377.18 730.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 405.17 730.10 Td (who ) Tj ET Q q 0 0 0 rg BT 424.84 730.10 Td (may ) Tj ET Q q 0 0 0 rg BT 444.50 730.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 478.03 730.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 498.25 730.10 Td (collection ) Tj ET Q q 0 0 0 rg BT 540.12 730.10 Td (on ) Tj ET Q q 0 0 0 rg BT 552.56 730.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (behalf ) Tj ET Q q 0 0 0 rg BT 77.41 718.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 114.28 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 124.49 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 139.13 718.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 163.78 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 174.54 718.10 Td (their ) Tj ET Q q 0 0 0 rg BT 195.29 718.10 Td (agency ) Tj ET Q q 0 0 0 rg BT 226.03 718.10 Td (agreement. ) Tj ET Q q 0 0 0 rg BT 272.06 718.10 Td (Atlas ) Tj ET Q q 0 0 0 rg BT 295.60 718.10 Td (has ) Tj ET Q q 0 0 0 rg BT 311.36 718.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 344.89 718.10 Td (to ) Tj ET Q q 0 0 0 rg BT 355.10 718.10 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 390.84 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.48 718.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 442.89 718.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 483.09 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.85 718.10 Td (its ) Tj ET Q q 0 0 0 rg BT 505.73 718.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 547.58 718.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (monitors ) Tj ET Q q 0 0 0 rg BT 89.40 706.10 Td (concentrations ) Tj ET Q q 0 0 0 rg BT 151.56 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 163.74 706.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 190.35 706.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 209.20 706.10 Td (arising ) Tj ET Q q 0 0 0 rg BT 240.26 706.10 Td (from ) Tj ET Q q 0 0 0 rg BT 263.55 706.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 295.17 706.10 Td (geographic ) Tj ET Q q 0 0 0 rg BT 343.44 706.10 Td (regions, ) Tj ET Q q 0 0 0 rg BT 379.23 706.10 Td (activities, ) Tj ET Q q 0 0 0 rg BT 421.67 706.10 Td (or ) Tj ET Q q 0 0 0 rg BT 433.85 706.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 476.57 706.10 Td (characteristics ) Tj ET Q q 0 0 0 rg BT 537.61 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 706.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (reinsurers ) Tj ET Q q 0 0 0 rg BT 91.93 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 102.21 694.10 Td (minimize ) Tj ET Q q 0 0 0 rg BT 142.48 694.10 Td (its ) Tj ET Q q 0 0 0 rg BT 154.42 694.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 193.02 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 203.30 694.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 248.01 694.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 274.40 694.10 Td (from ) Tj ET Q q 0 0 0 rg BT 296.34 694.10 Td (reinsurers) Tj ET Q q 0 0 0 rg BT 338.36 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 340.86 694.10 Td (insolvency) Tj ET Q q 0 0 0 rg BT 383.54 694.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 677.10 Td (V) Tj ET Q q 0 0 0 rg BT 56.62 677.10 Td (irtually ) Tj ET Q q 0 0 0 rg BT 88.57 677.10 Td (all ) Tj ET Q q 0 0 0 rg BT 101.64 677.10 Td (states ) Tj ET Q q 0 0 0 rg BT 126.92 677.10 Td (require ) Tj ET Q q 0 0 0 rg BT 158.31 677.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 193.03 677.10 Td (licensed ) Tj ET Q q 0 0 0 rg BT 228.87 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 239.71 677.10 Td (do ) Tj ET Q q 0 0 0 rg BT 252.78 677.10 Td (business ) Tj ET Q q 0 0 0 rg BT 289.74 677.10 Td (therein ) Tj ET Q q 0 0 0 rg BT 320.58 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 331.42 677.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 351.70 677.10 Td (a ) Tj ET Q q 0 0 0 rg BT 359.21 677.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 391.16 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.56 677.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 447.84 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 465.35 677.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 501.73 677.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 527.01 677.10 Td (handling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 665.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 89.32 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 106.99 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 122.43 665.10 Td (unfunded ) Tj ET Q q 0 0 0 rg BT 163.42 665.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 196.64 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 208.20 665.10 Td (covered ) Tj ET Q q 0 0 0 rg BT 251.95 665.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 277.38 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 295.05 665.10 Td (unearned ) Tj ET Q q 0 0 0 rg BT 334.92 665.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 374.25 665.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 421.91 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.47 665.10 Td (impaired ) Tj ET Q q 0 0 0 rg BT 472.24 665.10 Td (or ) Tj ET Q q 0 0 0 rg BT 483.79 665.10 Td (insolvent ) Tj ET Q q 0 0 0 rg BT 523.68 665.10 Td (insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 653.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 97.05 653.10 Td (either ) Tj ET Q q 0 0 0 rg BT 121.60 653.10 Td (up ) Tj ET Q q 0 0 0 rg BT 133.39 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 142.96 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 156.97 653.10 Td (policy's ) Tj ET Q q 0 0 0 rg BT 189.44 653.10 Td (limit, ) Tj ET Q q 0 0 0 rg BT 212.62 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 226.63 653.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 269.51 653.10 Td (guaranty ) Tj ET Q q 0 0 0 rg BT 306.28 653.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 326.40 653.10 Td (covered ) Tj ET Q q 0 0 0 rg BT 359.83 653.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 383.83 653.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 426.17 653.10 Td (cap, ) Tj ET Q q 0 0 0 rg BT 444.34 653.10 Td (or ) Tj ET Q q 0 0 0 rg BT 454.46 653.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 479.58 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 489.69 653.10 Td (statutorily ) Tj ET Q q 0 0 0 rg BT 532.03 653.10 Td (defined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 87.89 641.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 147.30 641.10 Td (benefits, ) Tj ET Q q 0 0 0 rg BT 185.33 641.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 217.53 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 229.19 641.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 274.15 641.10 Td (deductibles. ) Tj ET Q q 0 0 0 rg BT 325.79 641.10 Td (These ) Tj ET Q q 0 0 0 rg BT 353.54 641.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 401.86 641.10 Td (are ) Tj ET Q q 0 0 0 rg BT 417.94 641.10 Td (funded ) Tj ET Q q 0 0 0 rg BT 449.58 641.10 Td (by ) Tj ET Q q 0 0 0 rg BT 463.46 641.10 Td (assessments, ) Tj ET Q q 0 0 0 rg BT 518.16 641.10 Td (made ) Tj ET Q q 0 0 0 rg BT 543.69 641.10 Td (on ) Tj ET Q q 0 0 0 rg BT 557.56 641.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.10 Td (retrospective, ) Tj ET Q q 0 0 0 rg BT 106.60 629.10 Td (prospective ) Tj ET Q q 0 0 0 rg BT 155.16 629.10 Td (or ) Tj ET Q q 0 0 0 rg BT 165.95 629.10 Td (pre-funded ) Tj ET Q q 0 0 0 rg BT 212.29 629.10 Td (basis, ) Tj ET Q q 0 0 0 rg BT 237.25 629.10 Td (which ) Tj ET Q q 0 0 0 rg BT 264.15 629.10 Td (are ) Tj ET Q q 0 0 0 rg BT 278.82 629.10 Td (levied ) Tj ET Q q 0 0 0 rg BT 305.72 629.10 Td (by ) Tj ET Q q 0 0 0 rg BT 318.18 629.10 Td (guaranty ) Tj ET Q q 0 0 0 rg BT 355.63 629.10 Td (associations ) Tj ET Q q 0 0 0 rg BT 406.42 629.10 Td (within ) Tj ET Q q 0 0 0 rg BT 434.44 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.12 629.10 Td (state, ) Tj ET Q q 0 0 0 rg BT 472.41 629.10 Td (up ) Tj ET Q q 0 0 0 rg BT 484.87 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 495.11 629.10 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 539.22 629.10 Td (limits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 617.10 Td (\(typically ) Tj ET Q q 0 0 0 rg BT 90.91 617.10 Td (2% ) Tj ET Q q 0 0 0 rg BT 106.82 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 117.74 617.10 Td (net ) Tj ET Q q 0 0 0 rg BT 136.98 617.10 Td (direct ) Tj ET Q q 0 0 0 rg BT 162.33 617.10 Td (written ) Tj ET Q q 0 0 0 rg BT 193.24 617.10 Td (premium\), ) Tj ET Q q 0 0 0 rg BT 242.19 617.10 Td (on ) Tj ET Q q 0 0 0 rg BT 254.78 617.10 Td (all ) Tj ET Q q 0 0 0 rg BT 267.36 617.10 Td (member ) Tj ET Q q 0 0 0 rg BT 302.71 617.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 336.96 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 347.32 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.12 617.10 Td (state ) Tj ET Q q 0 0 0 rg BT 383.03 617.10 Td (on ) Tj ET Q q 0 0 0 rg BT 395.62 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 410.42 617.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 433.01 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 443.92 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 458.72 617.10 Td (proportionate ) Tj ET Q q 0 0 0 rg BT 515.18 617.10 Td (share ) Tj ET Q q 0 0 0 rg BT 538.86 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.78 617.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 605.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 92.52 605.10 Td (written ) Tj ET Q q 0 0 0 rg BT 123.37 605.10 Td (by ) Tj ET Q q 0 0 0 rg BT 135.89 605.10 Td (member ) Tj ET Q q 0 0 0 rg BT 171.18 605.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 205.37 605.10 Td (in ) Tj ET Q q 0 0 0 rg BT 215.67 605.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 245.40 605.10 Td (covered ) Tj ET Q q 0 0 0 rg BT 279.57 605.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 300.98 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 311.83 605.10 Td (business ) Tj ET Q q 0 0 0 rg BT 348.25 605.10 Td (in ) Tj ET Q q 0 0 0 rg BT 358.55 605.10 Td (which ) Tj ET Q q 0 0 0 rg BT 385.51 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 400.25 605.10 Td (impaired, ) Tj ET Q q 0 0 0 rg BT 440.82 605.10 Td (insolvent ) Tj ET Q q 0 0 0 rg BT 480.01 605.10 Td (or ) Tj ET Q q 0 0 0 rg BT 490.86 605.10 Td (failed ) Tj ET Q q 0 0 0 rg BT 516.15 605.10 Td (insurer ) Tj ET Q q 0 0 0 rg BT 546.45 605.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 593.10 Td (engaged. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 576.10 Td (In ) Tj ET Q q 0 0 0 rg BT 59.97 576.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 96.88 576.10 Td (as ) Tj ET Q q 0 0 0 rg BT 106.84 576.10 Td (a ) Tj ET Q q 0 0 0 rg BT 112.92 576.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 152.32 576.10 Td (to ) Tj ET Q q 0 0 0 rg BT 161.74 576.10 Td (the ) Tj ET Q q 0 0 0 rg BT 175.59 576.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 202.78 576.10 Td (to ) Tj ET Q q 0 0 0 rg BT 212.19 576.10 Td (conduct ) Tj ET Q q 0 0 0 rg BT 245.48 576.10 Td (business ) Tj ET Q q 0 0 0 rg BT 281.01 576.10 Td (in ) Tj ET Q q 0 0 0 rg BT 290.42 576.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 319.26 576.10 Td (states ) Tj ET Q q 0 0 0 rg BT 343.12 576.10 Td (\(and ) Tj ET Q q 0 0 0 rg BT 362.52 576.10 Td (within ) Tj ET Q q 0 0 0 rg BT 389.71 576.10 Td (the ) Tj ET Q q 0 0 0 rg BT 403.56 576.10 Td (jurisdiction ) Tj ET Q q 0 0 0 rg BT 450.75 576.10 Td (of ) Tj ET Q q 0 0 0 rg BT 460.72 576.10 Td (some ) Tj ET Q q 0 0 0 rg BT 483.46 576.10 Td (local ) Tj ET Q q 0 0 0 rg BT 504.53 576.10 Td (governments\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 91.52 564.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 137.50 564.10 Td (are ) Tj ET Q q 0 0 0 rg BT 152.91 564.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 184.44 564.10 Td (to ) Tj ET Q q 0 0 0 rg BT 195.43 564.10 Td (or ) Tj ET Q q 0 0 0 rg BT 206.97 564.10 Td (required ) Tj ET Q q 0 0 0 rg BT 243.49 564.10 Td (to ) Tj ET Q q 0 0 0 rg BT 254.48 564.10 Td (participate ) Tj ET Q q 0 0 0 rg BT 299.88 564.10 Td (in ) Tj ET Q q 0 0 0 rg BT 310.87 564.10 Td (various ) Tj ET Q q 0 0 0 rg BT 343.52 564.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 382.83 564.10 Td (or ) Tj ET Q q 0 0 0 rg BT 394.37 564.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 413.13 564.10 Td (based ) Tj ET Q q 0 0 0 rg BT 439.11 564.10 Td (insurance-related ) Tj ET Q q 0 0 0 rg BT 511.17 564.10 Td (assessments, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 552.10 Td (including ) Tj ET Q q 0 0 0 rg BT 89.24 552.10 Td (mandatory ) Tj ET Q q 0 0 0 rg BT 133.48 552.10 Td (\(a/k/a ) Tj ET Q q 0 0 0 rg BT 157.71 552.10 Td (involuntary\) ) Tj ET Q q 0 0 0 rg BT 217.49 552.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 257.28 552.10 Td (pools, ) Tj ET Q q 0 0 0 rg BT 282.92 552.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 336.04 552.10 Td (associations, ) Tj ET Q q 0 0 0 rg BT 388.33 552.10 Td (workers' ) Tj ET Q q 0 0 0 rg BT 423.82 552.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 480.83 552.10 Td (second-injury ) Tj ET Q q 0 0 0 rg BT 537.29 552.10 Td (funds, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 540.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 98.58 540.10 Td (funds) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 1 J 1 j 3 M 120.8056640625 542.4388671875 m 123.3056640625 542.4388671875 l s q 0 0 0 rg BT 120.81 540.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.31 540.10 Td (and ) Tj ET Q q 0 0 0 rg BT 140.24 540.10 Td (other ) Tj ET Q q 0 0 0 rg BT 163.29 540.10 Td (state ) Tj ET Q q 0 0 0 rg BT 184.12 540.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 224.93 540.10 Td (facilities. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 516.30 Td (19. LINE OF) Tj ET Q q 0 0 0 rg BT 123.47 516.30 Td ( CREDIT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.30 Td (On ) Tj ET Q q 0 0 0 rg BT 64.91 499.30 Td (May ) Tj ET Q q 0 0 0 rg BT 85.93 499.30 Td (7, ) Tj ET Q q 0 0 0 rg BT 96.12 499.30 Td (2014, ) Tj ET Q q 0 0 0 rg BT 120.72 499.30 Td (American ) Tj ET Q q 0 0 0 rg BT 162.83 499.30 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 203.80 499.30 Td (Acquisition, ) Tj ET Q q 0 0 0 rg BT 255.65 499.30 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 273.61 499.30 Td (\(American ) Tj ET Q q 0 0 0 rg BT 322.90 499.30 Td (Acquisition\), ) Tj ET Q q 0 0 0 rg BT 382.53 499.30 Td (a ) Tj ET Q q 0 0 0 rg BT 389.65 499.30 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 433.45 499.30 Td (of ) Tj ET Q q 0 0 0 rg BT 443.88 499.30 Td (Atlas, ) Tj ET Q q 0 0 0 rg BT 470.18 499.30 Td (entered ) Tj ET Q q 0 0 0 rg BT 502.29 499.30 Td (into ) Tj ET Q q 0 0 0 rg BT 520.54 499.30 Td (a ) Tj ET Q q 0 0 0 rg BT 527.67 499.30 Td (loan ) Tj ET Q q 0 0 0 rg BT 547.58 499.30 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.30 Td (security ) Tj ET Q q 0 0 0 rg BT 83.18 487.30 Td (agreement ) Tj ET Q q 0 0 0 rg BT 126.34 487.30 Td (\(Loan ) Tj ET Q q 0 0 0 rg BT 155.84 487.30 Td (Agreement\) ) Tj ET Q q 0 0 0 rg BT 209.56 487.30 Td (for ) Tj ET Q q 0 0 0 rg BT 222.74 487.30 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.70 487.30 Td ($10 ) Tj ET Q q 0 0 0 rg BT 245.22 487.30 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.11 487.30 Td ( ) Tj ET Q q 0 0 0 rg BT 275.64 487.30 Td (revolving ) Tj ET Q q 0 0 0 rg BT 315.48 487.30 Td (loan ) Tj ET Q q 0 0 0 rg BT 334.22 487.30 Td (facility ) Tj ET Q q 0 0 0 rg BT 364.07 487.30 Td (with ) Tj ET Q q 0 0 0 rg BT 383.37 487.30 Td (Fifth ) Tj ET Q q 0 0 0 rg BT 404.23 487.30 Td (Third ) Tj ET Q q 0 0 0 rg BT 427.97 487.30 Td (Bank. ) Tj ET Q q 0 0 0 rg BT 453.10 487.30 Td (Under ) Tj ET Q q 0 0 0 rg BT 479.61 487.30 Td (the ) Tj ET Q q 0 0 0 rg BT 493.35 487.30 Td (Loan ) Tj ET Q q 0 0 0 rg BT 515.08 487.30 Td (Agreement, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.30 Td (funds ) Tj ET Q q 0 0 0 rg BT 75.73 475.30 Td (may ) Tj ET Q q 0 0 0 rg BT 96.46 475.30 Td (be ) Tj ET Q q 0 0 0 rg BT 109.41 475.30 Td (borrowed ) Tj ET Q q 0 0 0 rg BT 151.25 475.30 Td (and ) Tj ET Q q 0 0 0 rg BT 169.20 475.30 Td (re-borrowed ) Tj ET Q q 0 0 0 rg BT 222.13 475.30 Td (on ) Tj ET Q q 0 0 0 rg BT 235.64 475.30 Td (a ) Tj ET Q q 0 0 0 rg BT 243.59 475.30 Td (revolving ) Tj ET Q q 0 0 0 rg BT 285.43 475.30 Td (basis ) Tj ET Q q 0 0 0 rg BT 308.94 475.30 Td (by ) Tj ET Q q 0 0 0 rg BT 321.68 475.30 Td (American ) Tj ET Q q 0 0 0 rg BT 363.84 475.30 Td (Acquisition, ) Tj ET Q q 0 0 0 rg BT 416.52 475.30 Td (from ) Tj ET Q q 0 0 0 rg BT 439.47 475.30 Td (the ) Tj ET Q q 0 0 0 rg BT 455.19 475.30 Td (closing ) Tj ET Q q 0 0 0 rg BT 487.59 475.30 Td (date ) Tj ET Q q 0 0 0 rg BT 507.76 475.30 Td (until ) Tj ET Q q 0 0 0 rg BT 529.61 475.30 Td (\(but ) Tj ET Q q 0 0 0 rg BT 549.23 475.30 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.30 Td (including\) ) Tj ET Q q 0 0 0 rg BT 93.60 463.30 Td (May ) Tj ET Q q 0 0 0 rg BT 114.42 463.30 Td (7, ) Tj ET Q q 0 0 0 rg BT 124.41 463.30 Td (2015, ) Tj ET Q q 0 0 0 rg BT 149.40 463.30 Td (the ) Tj ET Q q 0 0 0 rg BT 164.11 463.30 Td (loan ) Tj ET Q q 0 0 0 rg BT 183.82 463.30 Td (maturity ) Tj ET Q q 0 0 0 rg BT 220.20 463.30 Td (date. ) Tj ET Q q 0 0 0 rg BT 241.67 463.30 Td (The ) Tj ET Q q 0 0 0 rg BT 259.71 463.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 291.63 463.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 309.11 463.30 Td (on ) Tj ET Q q 0 0 0 rg BT 321.60 463.30 Td (the ) Tj ET Q q 0 0 0 rg BT 336.31 463.30 Td (advances ) Tj ET Q q 0 0 0 rg BT 375.45 463.30 Td (under ) Tj ET Q q 0 0 0 rg BT 400.71 463.30 Td (the ) Tj ET Q q 0 0 0 rg BT 415.42 463.30 Td (revolving ) Tj ET Q q 0 0 0 rg BT 456.24 463.30 Td (loan ) Tj ET Q q 0 0 0 rg BT 475.95 463.30 Td (facility ) Tj ET Q q 0 0 0 rg BT 506.76 463.30 Td (will ) Tj ET Q q 0 0 0 rg BT 524.81 463.30 Td (generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.30 Td (be ) Tj ET Q q 0 0 0 rg BT 62.04 451.30 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 94.63 451.30 Td (plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.90 451.30 Td (2.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.73 451.30 Td (, ) Tj ET Q q 0 0 0 rg BT 144.83 451.30 Td (provided ) Tj ET Q q 0 0 0 rg BT 182.97 451.30 Td (that, ) Tj ET Q q 0 0 0 rg BT 203.07 451.30 Td (during ) Tj ET Q q 0 0 0 rg BT 231.77 451.30 Td (a ) Tj ET Q q 0 0 0 rg BT 238.81 451.30 Td (default, ) Tj ET Q q 0 0 0 rg BT 271.67 451.30 Td (interest ) Tj ET Q q 0 0 0 rg BT 303.70 451.30 Td (shall ) Tj ET Q q 0 0 0 rg BT 325.19 451.30 Td (accrue ) Tj ET Q q 0 0 0 rg BT 353.87 451.30 Td (at ) Tj ET Q q 0 0 0 rg BT 363.68 451.30 Td (a ) Tj ET Q q 0 0 0 rg BT 370.72 451.30 Td (rate ) Tj ET Q q 0 0 0 rg BT 388.30 451.30 Td (equal ) Tj ET Q q 0 0 0 rg BT 412.55 451.30 Td (to ) Tj ET Q q 0 0 0 rg BT 422.93 451.30 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 455.53 451.30 Td (plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.79 451.30 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.13 451.30 Td (. ) Tj ET Q q 0 0 0 rg BT 493.22 451.30 Td (In ) Tj ET Q q 0 0 0 rg BT 504.15 451.30 Td (addition, ) Tj ET Q q 0 0 0 rg BT 542.02 451.30 Td (there ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.30 Td (is ) Tj ET Q q 0 0 0 rg BT 58.42 439.30 Td (a ) Tj ET Q q 0 0 0 rg BT 64.61 439.30 Td (non-utilization ) Tj ET Q q 0 0 0 rg BT 125.23 439.30 Td (fee ) Tj ET Q q 0 0 0 rg BT 139.19 439.30 Td (equal ) Tj ET Q q 0 0 0 rg BT 162.60 439.30 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.12 439.30 Td (0.25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.95 439.30 Td ( ) Tj ET Q q 0 0 0 rg BT 199.70 439.30 Td (per ) Tj ET Q q 0 0 0 rg BT 214.22 439.30 Td (annum ) Tj ET Q q 0 0 0 rg BT 243.19 439.30 Td (of ) Tj ET Q q 0 0 0 rg BT 253.27 439.30 Td (an ) Tj ET Q q 0 0 0 rg BT 264.45 439.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 296.20 439.30 Td (equal ) Tj ET Q q 0 0 0 rg BT 319.60 439.30 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.13 439.30 Td ($10 ) Tj ET Q q 0 0 0 rg BT 345.88 439.30 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.77 439.30 Td ( ) Tj ET Q q 0 0 0 rg BT 376.52 439.30 Td (less ) Tj ET Q q 0 0 0 rg BT 393.27 439.30 Td (the ) Tj ET Q q 0 0 0 rg BT 407.24 439.30 Td (daily ) Tj ET Q q 0 0 0 rg BT 428.98 439.30 Td (average ) Tj ET Q q 0 0 0 rg BT 461.82 439.30 Td (of ) Tj ET Q q 0 0 0 rg BT 471.90 439.30 Td (the ) Tj ET Q q 0 0 0 rg BT 485.86 439.30 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 526.47 439.30 Td (principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 83.10 427.30 Td (of ) Tj ET Q q 0 0 0 rg BT 94.54 427.30 Td (the ) Tj ET Q q 0 0 0 rg BT 109.87 427.30 Td (revolving ) Tj ET Q q 0 0 0 rg BT 151.30 427.30 Td (loans ) Tj ET Q q 0 0 0 rg BT 175.52 427.30 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 225.30 427.30 Td (plus ) Tj ET Q q 0 0 0 rg BT 245.08 427.30 Td (the ) Tj ET Q q 0 0 0 rg BT 260.40 427.30 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 302.37 427.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 335.48 427.30 Td (of ) Tj ET Q q 0 0 0 rg BT 346.92 427.30 Td (the ) Tj ET Q q 0 0 0 rg BT 362.24 427.30 Td (letter ) Tj ET Q q 0 0 0 rg BT 385.90 427.30 Td (of ) Tj ET Q q 0 0 0 rg BT 397.33 427.30 Td (credit ) Tj ET Q q 0 0 0 rg BT 423.21 427.30 Td (obligations ) Tj ET Q q 0 0 0 rg BT 470.76 427.30 Td (outstanding. ) Tj ET Q q 0 0 0 rg BT 522.81 427.30 Td (The ) Tj ET Q q 0 0 0 rg BT 541.47 427.30 Td (Loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.30 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 96.92 415.30 Td (also ) Tj ET Q q 0 0 0 rg BT 115.53 415.30 Td (provides ) Tj ET Q q 0 0 0 rg BT 152.47 415.30 Td (for ) Tj ET Q q 0 0 0 rg BT 166.63 415.30 Td (the ) Tj ET Q q 0 0 0 rg BT 181.35 415.30 Td (issuance ) Tj ET Q q 0 0 0 rg BT 217.72 415.30 Td (of ) Tj ET Q q 0 0 0 rg BT 228.55 415.30 Td (letters ) Tj ET Q q 0 0 0 rg BT 255.49 415.30 Td (of ) Tj ET Q q 0 0 0 rg BT 266.32 415.30 Td (credit ) Tj ET Q q 0 0 0 rg BT 291.58 415.30 Td (in ) Tj ET Q q 0 0 0 rg BT 301.86 415.30 Td (an ) Tj ET Q q 0 0 0 rg BT 313.80 415.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 346.29 415.30 Td (up ) Tj ET Q q 0 0 0 rg BT 358.79 415.30 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.07 415.30 Td ($2 ) Tj ET Q q 0 0 0 rg BT 381.57 415.30 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.46 415.30 Td ( ) Tj ET Q q 0 0 0 rg BT 412.96 415.30 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 462.13 415.30 Td (at ) Tj ET Q q 0 0 0 rg BT 471.85 415.30 Td (any ) Tj ET Q q 0 0 0 rg BT 488.78 415.30 Td (time. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.30 Td (The ) Tj ET Q q 0 0 0 rg BT 69.52 398.30 Td (Loan ) Tj ET Q q 0 0 0 rg BT 93.16 398.30 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 141.56 398.30 Td (requires ) Tj ET Q q 0 0 0 rg BT 177.74 398.30 Td (us ) Tj ET Q q 0 0 0 rg BT 190.60 398.30 Td (to ) Tj ET Q q 0 0 0 rg BT 202.35 398.30 Td (comply ) Tj ET Q q 0 0 0 rg BT 236.32 398.30 Td (with ) Tj ET Q q 0 0 0 rg BT 258.07 398.30 Td (customary ) Tj ET Q q 0 0 0 rg BT 303.70 398.30 Td (af) Tj ET Q q 0 0 0 rg BT 311.29 398.30 Td (firmative ) Tj ET Q q 0 0 0 rg BT 351.91 398.30 Td (and ) Tj ET Q q 0 0 0 rg BT 370.32 398.30 Td (negative ) Tj ET Q q 0 0 0 rg BT 408.17 398.30 Td (covenants, ) Tj ET Q q 0 0 0 rg BT 454.63 398.30 Td (including ) Tj ET Q q 0 0 0 rg BT 496.37 398.30 Td (those ) Tj ET Q q 0 0 0 rg BT 521.45 398.30 Td (governing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.30 Td (indebtedness, ) Tj ET Q q 0 0 0 rg BT 106.41 386.30 Td (liens, ) Tj ET Q q 0 0 0 rg BT 130.05 386.30 Td (investments, ) Tj ET Q q 0 0 0 rg BT 182.58 386.30 Td (sales ) Tj ET Q q 0 0 0 rg BT 204.27 386.30 Td (of ) Tj ET Q q 0 0 0 rg BT 214.86 386.30 Td (assets, ) Tj ET Q q 0 0 0 rg BT 242.94 386.30 Td (issuance ) Tj ET Q q 0 0 0 rg BT 279.08 386.30 Td (of ) Tj ET Q q 0 0 0 rg BT 289.66 386.30 Td (securities, ) Tj ET Q q 0 0 0 rg BT 332.18 386.30 Td (and ) Tj ET Q q 0 0 0 rg BT 348.87 386.30 Td (distributions. ) Tj ET Q q 0 0 0 rg BT 403.47 386.30 Td (The ) Tj ET Q q 0 0 0 rg BT 421.27 386.30 Td (Loan ) Tj ET Q q 0 0 0 rg BT 443.57 386.30 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 490.25 386.30 Td (also ) Tj ET Q q 0 0 0 rg BT 508.62 386.30 Td (requires ) Tj ET Q q 0 0 0 rg BT 543.08 386.30 Td (us ) Tj ET Q q 0 0 0 rg BT 554.22 386.30 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.30 Td (comply ) Tj ET Q q 0 0 0 rg BT 82.35 374.30 Td (with ) Tj ET Q q 0 0 0 rg BT 102.49 374.30 Td (certain ) Tj ET Q q 0 0 0 rg BT 132.04 374.30 Td (financial ) Tj ET Q q 0 0 0 rg BT 169.38 374.30 Td (covenants, ) Tj ET Q q 0 0 0 rg BT 214.22 374.30 Td (including ) Tj ET Q q 0 0 0 rg BT 254.35 374.30 Td (the ) Tj ET Q q 0 0 0 rg BT 268.92 374.30 Td (Operating ) Tj ET Q q 0 0 0 rg BT 311.26 374.30 Td (Subsidiaries ) Tj ET Q q 0 0 0 rg BT 362.51 374.30 Td (\(defined ) Tj ET Q q 0 0 0 rg BT 398.18 374.30 Td (below\) ) Tj ET Q q 0 0 0 rg BT 428.30 374.30 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 478.43 374.30 Td (a ) Tj ET Q q 0 0 0 rg BT 485.22 374.30 Td (combined ) Tj ET Q q 0 0 0 rg BT 527.01 374.30 Td (statutory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.30 Td (net ) Tj ET Q q 0 0 0 rg BT 64.04 362.30 Td (worth ) Tj ET Q q 0 0 0 rg BT 89.18 362.30 Td (in ) Tj ET Q q 0 0 0 rg BT 98.78 362.30 Td (an ) Tj ET Q q 0 0 0 rg BT 110.04 362.30 Td (amount ) Tj ET Q q 0 0 0 rg BT 141.85 362.30 Td (not ) Tj ET Q q 0 0 0 rg BT 156.45 362.30 Td (less ) Tj ET Q q 0 0 0 rg BT 173.27 362.30 Td (than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.30 362.30 Td ($50 ) Tj ET Q q 0 0 0 rg BT 209.12 362.30 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.02 362.30 Td (. ) Tj ET Q q 0 0 0 rg BT 242.20 362.30 Td (The ) Tj ET Q q 0 0 0 rg BT 259.57 362.30 Td (revolving ) Tj ET Q q 0 0 0 rg BT 299.71 362.30 Td (loan ) Tj ET Q q 0 0 0 rg BT 318.75 362.30 Td (facility ) Tj ET Q q 0 0 0 rg BT 348.89 362.30 Td (is ) Tj ET Q q 0 0 0 rg BT 357.38 362.30 Td (secured ) Tj ET Q q 0 0 0 rg BT 389.73 362.30 Td (by ) Tj ET Q q 0 0 0 rg BT 401.55 362.30 Td (all ) Tj ET Q q 0 0 0 rg BT 413.36 362.30 Td (of ) Tj ET Q q 0 0 0 rg BT 423.51 362.30 Td (the ) Tj ET Q q 0 0 0 rg BT 437.55 362.30 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 486.03 362.30 Td (shares ) Tj ET Q q 0 0 0 rg BT 512.84 362.30 Td (of ) Tj ET Q q 0 0 0 rg BT 522.59 362.30 Td (American ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.30 Td (Country) Tj ET Q q 0 0 0 rg BT 82.13 350.30 Td (, ) Tj ET Q q 0 0 0 rg BT 88.04 350.30 Td (American ) Tj ET Q q 0 0 0 rg BT 131.85 350.30 Td (Service ) Tj ET Q q 0 0 0 rg BT 166.22 350.30 Td (and ) Tj ET Q q 0 0 0 rg BT 185.04 350.30 Td (Gateway) Tj ET Q q 0 0 0 rg BT 219.93 350.30 Td (, ) Tj ET Q q 0 0 0 rg BT 226.81 350.30 Td (which ) Tj ET Q q 0 0 0 rg BT 255.63 350.30 Td (are ) Tj ET Q q 0 0 0 rg BT 272.22 350.30 Td (wholly-owned ) Tj ET Q q 0 0 0 rg BT 334.37 350.30 Td (direct ) Tj ET Q q 0 0 0 rg BT 361.52 350.30 Td (or ) Tj ET Q q 0 0 0 rg BT 374.23 350.30 Td (indirect ) Tj ET Q q 0 0 0 rg BT 409.15 350.30 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 460.75 350.30 Td (of ) Tj ET Q q 0 0 0 rg BT 472.50 350.30 Td (American ) Tj ET Q q 0 0 0 rg BT 515.34 350.30 Td (Acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.30 Td (\(collectively) Tj ET Q q 0 0 0 rg BT 99.33 338.30 Td (, ) Tj ET Q q 0 0 0 rg BT 104.45 338.30 Td (the ) Tj ET Q q 0 0 0 rg BT 119.29 338.30 Td (Operating ) Tj ET Q q 0 0 0 rg BT 166.33 338.30 Td (Subsidiaries\). ) Tj ET Q q 0 0 0 rg BT 228.11 338.30 Td ( ) Tj ET Q q 0 0 0 rg BT 230.15 338.30 Td (As ) Tj ET Q q 0 0 0 rg BT 243.88 338.30 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.83 338.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 313.54 338.30 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.54 338.30 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.66 338.30 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.66 338.30 Td ( ) Tj ET Q q 0 0 0 rg BT 351.28 338.30 Td (funds ) Tj ET Q q 0 0 0 rg BT 376.12 338.30 Td (were ) Tj ET Q q 0 0 0 rg BT 398.17 338.30 Td (accessed ) Tj ET Q q 0 0 0 rg BT 435.77 338.30 Td (from ) Tj ET Q q 0 0 0 rg BT 457.83 338.30 Td (the ) Tj ET Q q 0 0 0 rg BT 472.67 338.30 Td (line ) Tj ET Q q 0 0 0 rg BT 490.28 338.30 Td (of ) Tj ET Q q 0 0 0 rg BT 501.24 338.30 Td (credit ) Tj ET Q q 0 0 0 rg BT 526.62 338.30 Td (nor ) Tj ET Q q 0 0 0 rg BT 542.57 338.30 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.30 Td (there ) Tj ET Q q 0 0 0 rg BT 72.49 326.30 Td (letters ) Tj ET Q q 0 0 0 rg BT 99.42 326.30 Td (of ) Tj ET Q q 0 0 0 rg BT 110.25 326.30 Td (credit ) Tj ET Q q 0 0 0 rg BT 135.51 326.30 Td (issued ) Tj ET Q q 0 0 0 rg BT 163.01 326.30 Td (under ) Tj ET Q q 0 0 0 rg BT 188.28 326.30 Td (the ) Tj ET Q q 0 0 0 rg BT 203.00 326.30 Td (terms ) Tj ET Q q 0 0 0 rg BT 227.71 326.30 Td (of ) Tj ET Q q 0 0 0 rg BT 238.54 326.30 Td (this ) Tj ET Q q 0 0 0 rg BT 255.49 326.30 Td (Loan 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.00 302.50 Td (20. SUBSEQUENT) Tj ET Q q 0 0 0 rg BT 150.07 302.50 Td ( EVENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 273.50 Td (None.) Tj ET Q endstream endobj 157 0 obj <> endobj 158 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Item 9. Changes in and Disagr) Tj ET Q q 0 0 0 rg BT 179.28 742.25 Td (eements with ) Tj ET Q q 0 0 0 rg BT 237.05 742.25 Td (Accountants on ) Tj ET Q q 0 0 0 rg BT 305.39 742.25 Td (Accounting and Financial Disclosur) Tj ET Q q 0 0 0 rg BT 457.73 742.25 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 717.25 Td (None.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 691.45 Td (I) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.33 691.45 Td (tem 9A. Contr) Tj ET Q q 0 0 0 rg BT 114.52 691.45 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 157.68 691.45 Td (ocedur) Tj ET Q q 0 0 0 rg BT 186.94 691.45 Td (es) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 666.45 Td (Evaluation of Disclosure Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 642.45 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 642.45 Td (e ) Tj ET Q q 0 0 0 rg BT 64.51 642.45 Td (have ) Tj ET Q q 0 0 0 rg BT 84.82 642.45 Td (established ) Tj ET Q q 0 0 0 rg BT 130.68 642.45 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 172.66 642.45 Td (controls ) Tj ET Q q 0 0 0 rg BT 206.31 642.45 Td (and ) Tj ET Q q 0 0 0 rg BT 222.18 642.45 Td (procedures ) Tj ET Q q 0 0 0 rg BT 267.48 642.45 Td (to ) Tj ET Q q 0 0 0 rg BT 276.69 642.45 Td (ensure ) Tj ET Q q 0 0 0 rg BT 304.22 642.45 Td (that ) Tj ET Q q 0 0 0 rg BT 320.65 642.45 Td (material ) Tj ET Q q 0 0 0 rg BT 354.84 642.45 Td (information ) Tj ET Q q 0 0 0 rg BT 403.48 642.45 Td (relating ) Tj ET Q q 0 0 0 rg BT 435.46 642.45 Td (to ) Tj ET Q q 0 0 0 rg BT 444.67 642.45 Td (us, ) Tj ET Q q 0 0 0 rg BT 457.49 642.45 Td (including ) Tj ET Q q 0 0 0 rg BT 496.70 642.45 Td (our ) Tj ET Q q 0 0 0 rg BT 511.46 642.45 Td (consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 630.45 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 102.49 630.45 Td (is ) Tj ET Q q 0 0 0 rg BT 111.93 630.45 Td (made ) Tj ET Q q 0 0 0 rg BT 136.35 630.45 Td (known ) Tj ET Q q 0 0 0 rg BT 166.34 630.45 Td (to ) Tj ET Q q 0 0 0 rg BT 176.89 630.45 Td (the ) Tj ET Q q 0 0 0 rg BT 191.88 630.45 Td (of) Tj ET Q q 0 0 0 rg BT 200.03 630.45 Td (ficers ) Tj ET Q q 0 0 0 rg BT 225.01 630.45 Td (who ) Tj ET Q q 0 0 0 rg BT 245.00 630.45 Td (certify ) Tj ET Q q 0 0 0 rg BT 273.86 630.45 Td (our ) Tj ET Q q 0 0 0 rg BT 289.96 630.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 327.71 630.45 Td (reports ) Tj ET Q q 0 0 0 rg BT 358.25 630.45 Td (and ) Tj ET Q q 0 0 0 rg BT 375.46 630.45 Td (to ) Tj ET Q q 0 0 0 rg BT 386.01 630.45 Td (the ) Tj ET Q q 0 0 0 rg BT 400.99 630.45 Td (members ) Tj ET Q q 0 0 0 rg BT 440.42 630.45 Td (of ) Tj ET Q q 0 0 0 rg BT 451.52 630.45 Td (senior ) Tj ET Q q 0 0 0 rg BT 478.73 630.45 Td (management ) Tj ET Q q 0 0 0 rg BT 532.59 630.45 Td (and ) Tj ET Q q 0 0 0 rg BT 549.79 630.45 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 618.45 Td (Board ) Tj ET Q q 0 0 0 rg BT 76.94 618.45 Td (of ) Tj ET Q q 0 0 0 rg BT 87.77 618.45 Td (Directors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 594.45 Td (Based ) Tj ET Q q 0 0 0 rg BT 77.39 594.45 Td (on ) Tj ET Q q 0 0 0 rg BT 90.34 594.45 Td (management) Tj ET Q q 0 0 0 rg BT 144.21 594.45 Td (s ) Tj ET Q q 0 0 0 rg BT 151.05 594.45 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 195.65 594.45 Td (as ) Tj ET Q q 0 0 0 rg BT 206.93 594.45 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.21 594.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 277.25 594.45 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.25 594.45 Td (, ) Tj ET Q q 0 0 0 rg BT 302.70 594.45 Td (our ) Tj ET Q q 0 0 0 rg BT 318.98 594.45 Td (president ) Tj ET Q q 0 0 0 rg BT 358.58 594.45 Td (and ) Tj ET Q q 0 0 0 rg BT 375.97 594.45 Td (chief ) Tj ET Q q 0 0 0 rg BT 398.91 594.45 Td (executive ) Tj ET Q q 0 0 0 rg BT 440.17 594.45 Td (of) Tj ET Q q 0 0 0 rg BT 448.32 594.45 Td (ficer ) Tj ET Q q 0 0 0 rg BT 469.59 594.45 Td (and ) Tj ET Q q 0 0 0 rg BT 486.98 594.45 Td (our ) Tj ET Q q 0 0 0 rg BT 503.26 594.45 Td (vice ) Tj ET Q q 0 0 0 rg BT 522.86 594.45 Td (president, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 582.45 Td (chief ) Tj ET Q q 0 0 0 rg BT 72.97 582.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 110.93 582.45 Td (of) Tj ET Q q 0 0 0 rg BT 119.08 582.45 Td (ficer ) Tj ET Q q 0 0 0 rg BT 140.38 582.45 Td (and ) Tj ET Q q 0 0 0 rg BT 157.80 582.45 Td (treasurer ) Tj ET Q q 0 0 0 rg BT 195.76 582.45 Td (have ) Tj ET Q q 0 0 0 rg BT 217.62 582.45 Td (concluded ) Tj ET Q q 0 0 0 rg BT 261.70 582.45 Td (that ) Tj ET Q q 0 0 0 rg BT 279.68 582.45 Td (our ) Tj ET Q q 0 0 0 rg BT 295.99 582.45 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 339.52 582.45 Td (controls ) Tj ET Q q 0 0 0 rg BT 374.72 582.45 Td (and ) Tj ET Q q 0 0 0 rg BT 392.14 582.45 Td (procedures ) Tj ET Q q 0 0 0 rg BT 438.99 582.45 Td (\(as ) Tj ET Q q 0 0 0 rg BT 453.64 582.45 Td (defined ) Tj ET Q q 0 0 0 rg BT 486.61 582.45 Td (in ) Tj ET Q q 0 0 0 rg BT 497.37 582.45 Td (Rules ) Tj ET Q q 0 0 0 rg BT 523.13 582.45 Td (13a-15\(e\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 570.45 Td (and ) Tj ET Q q 0 0 0 rg BT 67.09 570.45 Td (15d-15\(e\) ) Tj ET Q q 0 0 0 rg BT 109.17 570.45 Td (under ) Tj ET Q q 0 0 0 rg BT 134.60 570.45 Td (the ) Tj ET Q q 0 0 0 rg BT 149.47 570.45 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 190.96 570.45 Td (Act\) ) Tj ET Q q 0 0 0 rg BT 211.38 570.45 Td (are ) Tj ET Q q 0 0 0 rg BT 226.24 570.45 Td (ef) Tj ET Q q 0 0 0 rg BT 233.83 570.45 Td (fective ) Tj ET Q q 0 0 0 rg BT 263.69 570.45 Td (to ) Tj ET Q q 0 0 0 rg BT 274.12 570.45 Td (ensure ) Tj ET Q q 0 0 0 rg BT 302.87 570.45 Td (that ) Tj ET Q q 0 0 0 rg BT 320.52 570.45 Td (the ) Tj ET Q q 0 0 0 rg BT 335.39 570.45 Td (information ) Tj ET Q q 0 0 0 rg BT 385.26 570.45 Td (required ) Tj ET Q q 0 0 0 rg BT 421.23 570.45 Td (to ) Tj ET Q q 0 0 0 rg BT 431.66 570.45 Td (be ) Tj ET Q q 0 0 0 rg BT 443.75 570.45 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 483.62 570.45 Td (by ) Tj ET Q q 0 0 0 rg BT 496.27 570.45 Td (us ) Tj ET Q q 0 0 0 rg BT 507.82 570.45 Td (in ) Tj ET Q q 0 0 0 rg BT 518.25 570.45 Td (our ) Tj ET Q q 0 0 0 rg BT 534.24 570.45 Td (reports ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 558.45 Td (that ) Tj ET Q q 0 0 0 rg BT 67.33 558.45 Td (we ) Tj ET Q q 0 0 0 rg BT 81.32 558.45 Td (file ) Tj ET Q q 0 0 0 rg BT 96.98 558.45 Td (or ) Tj ET Q q 0 0 0 rg BT 107.65 558.45 Td (submit ) Tj ET Q q 0 0 0 rg BT 137.21 558.45 Td (under ) Tj ET Q q 0 0 0 rg BT 162.31 558.45 Td (the ) Tj ET Q q 0 0 0 rg BT 176.86 558.45 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 218.10 558.45 Td (Act ) Tj ET Q q 0 0 0 rg BT 234.88 558.45 Td (is ) Tj ET Q q 0 0 0 rg BT 243.88 558.45 Td (recorded, ) Tj ET Q q 0 0 0 rg BT 283.69 558.45 Td (processed, ) Tj ET Q q 0 0 0 rg BT 327.95 558.45 Td (summarized ) Tj ET Q q 0 0 0 rg BT 379.16 558.45 Td (and ) Tj ET Q q 0 0 0 rg BT 395.93 558.45 Td (reported ) Tj ET Q q 0 0 0 rg BT 431.58 558.45 Td (within ) Tj ET Q q 0 0 0 rg BT 459.47 558.45 Td (the ) Tj ET Q q 0 0 0 rg BT 474.02 558.45 Td (time ) Tj ET Q q 0 0 0 rg BT 494.13 558.45 Td (periods ) Tj ET Q q 0 0 0 rg BT 525.90 558.45 Td (specified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 546.45 Td (in ) Tj ET Q q 0 0 0 rg BT 59.56 546.45 Td (the ) Tj ET Q q 0 0 0 rg BT 73.56 546.45 Td (SEC ) Tj ET Q q 0 0 0 rg BT 93.68 546.45 Td (rules ) Tj ET Q q 0 0 0 rg BT 114.90 546.45 Td (and ) Tj ET Q q 0 0 0 rg BT 131.12 546.45 Td (forms, ) Tj ET Q q 0 0 0 rg BT 158.73 546.45 Td (and ) Tj ET Q q 0 0 0 rg BT 174.95 546.45 Td (is ) Tj ET Q q 0 0 0 rg BT 183.40 546.45 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 235.71 546.45 Td (and ) Tj ET Q q 0 0 0 rg BT 251.93 546.45 Td (communicated ) Tj ET Q q 0 0 0 rg BT 312.58 546.45 Td (to ) Tj ET Q q 0 0 0 rg BT 322.14 546.45 Td (our ) Tj ET Q q 0 0 0 rg BT 337.25 546.45 Td (management, ) Tj ET Q q 0 0 0 rg BT 392.62 546.45 Td (including ) Tj ET Q q 0 0 0 rg BT 432.17 546.45 Td (our ) Tj ET Q q 0 0 0 rg BT 447.28 546.45 Td (president ) Tj ET Q q 0 0 0 rg BT 485.72 546.45 Td (and ) Tj ET Q q 0 0 0 rg BT 501.94 546.45 Td (chief ) Tj ET Q q 0 0 0 rg BT 523.71 546.45 Td (executive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 534.45 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 534.45 Td (ficer ) Tj ET Q q 0 0 0 rg BT 78.96 534.45 Td (and ) Tj ET Q q 0 0 0 rg BT 95.90 534.45 Td (our ) Tj ET Q q 0 0 0 rg BT 111.73 534.45 Td (vice ) Tj ET Q q 0 0 0 rg BT 130.89 534.45 Td (president, ) Tj ET Q q 0 0 0 rg BT 172.54 534.45 Td (chief ) Tj ET Q q 0 0 0 rg BT 195.03 534.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 232.51 534.45 Td (of) Tj ET Q q 0 0 0 rg BT 240.66 534.45 Td (ficer ) Tj ET Q q 0 0 0 rg BT 261.47 534.45 Td (and ) Tj ET Q q 0 0 0 rg BT 278.41 534.45 Td (treasurer ) Tj ET Q q 0 0 0 rg BT 315.89 534.45 Td (to ) Tj ET Q q 0 0 0 rg BT 326.17 534.45 Td (allow ) Tj ET Q q 0 0 0 rg BT 350.88 534.45 Td (timely ) Tj ET Q q 0 0 0 rg BT 378.94 534.45 Td (decisions ) Tj ET Q q 0 0 0 rg BT 418.65 534.45 Td (regarding ) Tj ET Q q 0 0 0 rg BT 459.47 534.45 Td (required ) Tj ET Q q 0 0 0 rg BT 495.28 534.45 Td (disclosure.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 510.45 Td (Changes in Internal Controls) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 486.45 Td (There were no changes to our internal controls over financial reporting during the fiscal quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.40 486.45 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.98 486.45 Td ( that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 474.45 Td (have materially af) Tj ET Q q 0 0 0 rg BT 122.00 474.45 Td (fected, or are reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 308.96 474.45 Td (fect, our internal controls over financial reporting.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 450.45 Td (Management) Tj ET Q q 0 0 0 rg BT 107.04 450.45 Td (s Report on Internal Control Over Financial Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 426.45 Td (Our ) Tj ET Q q 0 0 0 rg BT 68.07 426.45 Td (management ) Tj ET Q q 0 0 0 rg BT 121.67 426.45 Td (is ) Tj ET Q q 0 0 0 rg BT 130.85 426.45 Td (responsible ) Tj ET Q q 0 0 0 rg BT 178.91 426.45 Td (for ) Tj ET Q q 0 0 0 rg BT 193.09 426.45 Td (establishing ) Tj ET Q q 0 0 0 rg BT 243.37 426.45 Td (and ) Tj ET Q q 0 0 0 rg BT 260.33 426.45 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 310.61 426.45 Td (adequate ) Tj ET Q q 0 0 0 rg BT 348.65 426.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 381.71 426.45 Td (control ) Tj ET Q q 0 0 0 rg BT 412.55 426.45 Td (over ) Tj ET Q q 0 0 0 rg BT 432.83 426.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 470.32 426.45 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 511.99 426.45 Td (as ) Tj ET Q q 0 0 0 rg BT 522.84 426.45 Td (such ) Tj ET Q q 0 0 0 rg BT 543.68 426.45 Td (term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.45 Td (is ) Tj ET Q q 0 0 0 rg BT 59.48 414.45 Td (defined ) Tj ET Q q 0 0 0 rg BT 92.27 414.45 Td (in ) Tj ET Q q 0 0 0 rg BT 102.86 414.45 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 144.47 414.45 Td (Act ) Tj ET Q q 0 0 0 rg BT 161.71 414.45 Td (Rule ) Tj ET Q q 0 0 0 rg BT 183.41 414.45 Td (13a-15\(f\). ) Tj ET Q q 0 0 0 rg BT 226.48 414.45 Td (Under ) Tj ET Q q 0 0 0 rg BT 254.27 414.45 Td (the ) Tj ET Q q 0 0 0 rg BT 269.30 414.45 Td (supervision ) Tj ET Q q 0 0 0 rg BT 318.21 414.45 Td (and ) Tj ET Q q 0 0 0 rg BT 335.46 414.45 Td (with ) Tj ET Q q 0 0 0 rg BT 356.05 414.45 Td (the ) Tj ET Q q 0 0 0 rg BT 371.07 414.45 Td (participation ) Tj ET Q q 0 0 0 rg BT 424.41 414.45 Td (of ) Tj ET Q q 0 0 0 rg BT 435.55 414.45 Td (our ) Tj ET Q q 0 0 0 rg BT 451.69 414.45 Td (management, ) Tj ET Q q 0 0 0 rg BT 508.09 414.45 Td (including ) Tj ET Q q 0 0 0 rg BT 548.67 414.45 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.45 Td (chief ) Tj ET Q q 0 0 0 rg BT 73.02 402.45 Td (executive ) Tj ET Q q 0 0 0 rg BT 114.36 402.45 Td (of) Tj ET Q q 0 0 0 rg BT 122.51 402.45 Td (ficer ) Tj ET Q q 0 0 0 rg BT 143.86 402.45 Td (and ) Tj ET Q q 0 0 0 rg BT 161.33 402.45 Td (chief ) Tj ET Q q 0 0 0 rg BT 184.35 402.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 222.36 402.45 Td (of) Tj ET Q q 0 0 0 rg BT 230.51 402.45 Td (ficer) Tj ET Q q 0 0 0 rg BT 248.42 402.45 Td (, ) Tj ET Q q 0 0 0 rg BT 253.96 402.45 Td (we ) Tj ET Q q 0 0 0 rg BT 268.65 402.45 Td (conducted ) Tj ET Q q 0 0 0 rg BT 312.77 402.45 Td (an ) Tj ET Q q 0 0 0 rg BT 325.24 402.45 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 369.93 402.45 Td (of ) Tj ET Q q 0 0 0 rg BT 381.29 402.45 Td (the ) Tj ET Q q 0 0 0 rg BT 396.54 402.45 Td (ef) Tj ET Q q 0 0 0 rg BT 404.13 402.45 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 451.58 402.45 Td (of ) Tj ET Q q 0 0 0 rg BT 462.94 402.45 Td (our ) Tj ET Q q 0 0 0 rg BT 479.31 402.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 512.88 402.45 Td (control ) Tj ET Q q 0 0 0 rg BT 544.24 402.45 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 88.39 390.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 128.46 390.45 Td (based ) Tj ET Q q 0 0 0 rg BT 154.63 390.45 Td (on ) Tj ET Q q 0 0 0 rg BT 168.04 390.45 Td (the ) Tj ET Q q 0 0 0 rg BT 183.67 390.45 Td (framework ) Tj ET Q q 0 0 0 rg BT 230.95 390.45 Td (in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 242.13 390.45 Td (Internal ) Tj ET Q q 0 0 0 rg BT 277.76 390.45 Td (Contr) Tj ET Q q 0 0 0 rg BT 300.73 390.45 Td (ol ) Tj ET Q q 0 0 0 rg BT 311.92 390.45 Td (- ) Tj ET Q q 0 0 0 rg BT 318.66 390.45 Td (Integrated ) Tj ET Q q 0 0 0 rg BT 363.72 390.45 Td (Framework) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.38 390.45 Td ( ) Tj ET Q q 0 0 0 rg BT 413.79 390.45 Td (issued ) Tj ET Q q 0 0 0 rg BT 442.20 390.45 Td (in ) Tj ET Q q 0 0 0 rg BT 453.39 390.45 Td (2013 ) Tj ET Q q 0 0 0 rg BT 476.80 390.45 Td (by ) Tj ET Q q 0 0 0 rg BT 490.21 390.45 Td (the ) Tj ET Q q 0 0 0 rg BT 505.84 390.45 Td (Committee ) Tj ET Q q 0 0 0 rg BT 553.68 390.45 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.45 Td (Sponsoring ) Tj ET Q q 0 0 0 rg BT 97.22 378.45 Td (Or) Tj ET Q q 0 0 0 rg BT 107.59 378.45 Td (ganizations ) Tj ET Q q 0 0 0 rg BT 154.79 378.45 Td (of ) Tj ET Q q 0 0 0 rg BT 164.78 378.45 Td (the ) Tj ET Q q 0 0 0 rg BT 178.53 378.45 Td (T) Tj ET Q q 0 0 0 rg BT 184.29 378.45 Td (readway ) Tj ET Q q 0 0 0 rg BT 219.81 378.45 Td (Commission. ) Tj ET Q q 0 0 0 rg BT 274.54 378.45 Td (Based ) Tj ET Q q 0 0 0 rg BT 300.63 378.45 Td (on ) Tj ET Q q 0 0 0 rg BT 312.29 378.45 Td (such ) Tj ET Q q 0 0 0 rg BT 332.28 378.45 Td (evaluation, ) Tj ET Q q 0 0 0 rg BT 378.09 378.45 Td (we ) Tj ET Q q 0 0 0 rg BT 391.41 378.45 Td (have ) Tj ET Q q 0 0 0 rg BT 411.94 378.45 Td (concluded ) Tj ET Q q 0 0 0 rg BT 454.69 378.45 Td (that ) Tj ET Q q 0 0 0 rg BT 471.35 378.45 Td (the ) Tj ET Q q 0 0 0 rg BT 485.22 378.45 Td (Company's ) Tj ET Q q 0 0 0 rg BT 531.46 378.45 Td (internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.45 Td (control ) Tj ET Q q 0 0 0 rg BT 80.83 366.45 Td (over ) Tj ET Q q 0 0 0 rg BT 101.09 366.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 138.57 366.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 177.73 366.45 Td (is ) Tj ET Q q 0 0 0 rg BT 186.90 366.45 Td (ef) Tj ET Q q 0 0 0 rg BT 194.49 366.45 Td (fective ) Tj ET Q q 0 0 0 rg BT 224.19 366.45 Td (as ) Tj ET Q q 0 0 0 rg BT 235.02 366.45 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.85 366.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 304.43 366.45 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.43 366.45 Td (. ) Tj ET Q q 0 0 0 rg BT 329.43 366.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.45 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.95 342.45 Td (management ) Tj ET Q q 0 0 0 rg BT 121.44 342.45 Td (does ) Tj ET Q q 0 0 0 rg BT 142.16 342.45 Td (not ) Tj ET Q q 0 0 0 rg BT 157.34 342.45 Td (expect ) Tj ET Q q 0 0 0 rg BT 185.83 342.45 Td (that ) Tj ET Q q 0 0 0 rg BT 203.22 342.45 Td (the ) Tj ET Q q 0 0 0 rg BT 217.84 342.45 Td (Company's ) Tj ET Q q 0 0 0 rg BT 264.81 342.45 Td (controls ) Tj ET Q q 0 0 0 rg BT 299.43 342.45 Td (and ) Tj ET Q q 0 0 0 rg BT 316.26 342.45 Td (procedures ) Tj ET Q q 0 0 0 rg BT 362.53 342.45 Td (over ) Tj ET Q q 0 0 0 rg BT 382.70 342.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 420.07 342.45 Td (reporting ) Tj ET Q q 0 0 0 rg BT 459.13 342.45 Td (will ) Tj ET Q q 0 0 0 rg BT 477.08 342.45 Td (prevent ) Tj ET Q q 0 0 0 rg BT 509.46 342.45 Td (all ) Tj ET Q q 0 0 0 rg BT 521.86 342.45 Td (errors ) Tj ET Q q 0 0 0 rg BT 547.57 342.45 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.45 Td (frauds. ) Tj ET Q q 0 0 0 rg BT 80.14 330.45 Td ( ) Tj ET Q q 0 0 0 rg BT 82.79 330.45 Td ( ) Tj ET Q q 0 0 0 rg BT 84.86 330.45 Td (A) Tj ET Q q 0 0 0 rg BT 91.53 330.45 Td ( ) Tj ET Q q 0 0 0 rg BT 94.18 330.45 Td (control ) Tj ET Q q 0 0 0 rg BT 125.16 330.45 Td (system, ) Tj ET Q q 0 0 0 rg BT 158.09 330.45 Td (no ) Tj ET Q q 0 0 0 rg BT 170.74 330.45 Td (matter ) Tj ET Q q 0 0 0 rg BT 198.93 330.45 Td (how ) Tj ET Q q 0 0 0 rg BT 218.80 330.45 Td (well ) Tj ET Q q 0 0 0 rg BT 238.67 330.45 Td (designed ) Tj ET Q q 0 0 0 rg BT 276.87 330.45 Td (and ) Tj ET Q q 0 0 0 rg BT 293.96 330.45 Td (operated, ) Tj ET Q q 0 0 0 rg BT 333.54 330.45 Td (can ) Tj ET Q q 0 0 0 rg BT 350.06 330.45 Td (provide ) Tj ET Q q 0 0 0 rg BT 383.26 330.45 Td (only ) Tj ET Q q 0 0 0 rg BT 403.69 330.45 Td (reasonable, ) Tj ET Q q 0 0 0 rg BT 451.60 330.45 Td (not ) Tj ET Q q 0 0 0 rg BT 467.03 330.45 Td (absolute, ) Tj ET Q q 0 0 0 rg BT 505.50 330.45 Td (assurance ) Tj ET Q q 0 0 0 rg BT 547.02 330.45 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.45 Td (the ) Tj ET Q q 0 0 0 rg BT 65.66 318.45 Td (objectives ) Tj ET Q q 0 0 0 rg BT 109.65 318.45 Td (of ) Tj ET Q q 0 0 0 rg BT 121.42 318.45 Td (the ) Tj ET Q q 0 0 0 rg BT 137.08 318.45 Td (control ) Tj ET Q q 0 0 0 rg BT 168.85 318.45 Td (system ) Tj ET Q q 0 0 0 rg BT 200.08 318.45 Td (are ) Tj ET Q q 0 0 0 rg BT 215.73 318.45 Td (met. ) Tj ET Q q 0 0 0 rg BT 236.67 318.45 Td ( ) Tj ET Q q 0 0 0 rg BT 240.11 318.45 Td ( ) Tj ET Q q 0 0 0 rg BT 243.56 318.45 Td (Further) Tj ET Q q 0 0 0 rg BT 272.60 318.45 Td (, ) Tj ET Q q 0 0 0 rg BT 278.54 318.45 Td (a ) Tj ET Q q 0 0 0 rg BT 286.43 318.45 Td (control ) Tj ET Q q 0 0 0 rg BT 318.20 318.45 Td (system's ) Tj ET Q q 0 0 0 rg BT 355.11 318.45 Td (design ) Tj ET Q q 0 0 0 rg BT 384.67 318.45 Td (must ) Tj ET Q q 0 0 0 rg BT 407.56 318.45 Td (reflect ) Tj ET Q q 0 0 0 rg BT 436.54 318.45 Td (the ) Tj ET Q q 0 0 0 rg BT 452.20 318.45 Td (fact ) Tj ET Q q 0 0 0 rg BT 470.63 318.45 Td (that ) Tj ET Q q 0 0 0 rg BT 489.07 318.45 Td (there ) Tj ET Q q 0 0 0 rg BT 512.50 318.45 Td (are ) Tj ET Q q 0 0 0 rg BT 528.15 318.45 Td (resource ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.45 Td (constraints, ) Tj ET Q q 0 0 0 rg BT 97.69 306.45 Td (and ) Tj ET Q q 0 0 0 rg BT 113.99 306.45 Td (the ) Tj ET Q q 0 0 0 rg BT 128.08 306.45 Td (benefits ) Tj ET Q q 0 0 0 rg BT 161.60 306.45 Td (of ) Tj ET Q q 0 0 0 rg BT 171.79 306.45 Td (controls ) Tj ET Q q 0 0 0 rg BT 205.87 306.45 Td (must ) Tj ET Q q 0 0 0 rg BT 227.19 306.45 Td (be ) Tj ET Q q 0 0 0 rg BT 238.49 306.45 Td (considered ) Tj ET Q q 0 0 0 rg BT 283.67 306.45 Td (relative ) Tj ET Q q 0 0 0 rg BT 315.52 306.45 Td (to ) Tj ET Q q 0 0 0 rg BT 325.16 306.45 Td (their ) Tj ET Q q 0 0 0 rg BT 345.35 306.45 Td (costs. ) Tj ET Q q 0 0 0 rg BT 369.72 306.45 Td ( ) Tj ET Q q 0 0 0 rg BT 371.58 306.45 Td ( ) Tj ET Q q 0 0 0 rg BT 373.45 306.45 Td (Because ) Tj ET Q q 0 0 0 rg BT 408.63 306.45 Td (of ) Tj ET Q q 0 0 0 rg BT 418.82 306.45 Td (the ) Tj ET Q q 0 0 0 rg BT 432.91 306.45 Td (inherent ) Tj ET Q q 0 0 0 rg BT 467.53 306.45 Td (limitations ) Tj ET Q q 0 0 0 rg BT 512.18 306.45 Td (in ) Tj ET Q q 0 0 0 rg BT 521.82 306.45 Td (all ) Tj ET Q q 0 0 0 rg BT 533.68 306.45 Td (control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.45 Td (systems, ) Tj ET Q q 0 0 0 rg BT 86.60 294.45 Td (no ) Tj ET Q q 0 0 0 rg BT 99.03 294.45 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 143.12 294.45 Td (of ) Tj ET Q q 0 0 0 rg BT 153.88 294.45 Td (controls ) Tj ET Q q 0 0 0 rg BT 188.53 294.45 Td (can ) Tj ET Q q 0 0 0 rg BT 204.83 294.45 Td (provide ) Tj ET Q q 0 0 0 rg BT 237.81 294.45 Td (absolute ) Tj ET Q q 0 0 0 rg BT 273.57 294.45 Td (assurance ) Tj ET Q q 0 0 0 rg BT 314.87 294.45 Td (that ) Tj ET Q q 0 0 0 rg BT 332.29 294.45 Td (all ) Tj ET Q q 0 0 0 rg BT 344.72 294.45 Td (control ) Tj ET Q q 0 0 0 rg BT 375.48 294.45 Td (issues ) Tj ET Q q 0 0 0 rg BT 401.80 294.45 Td (and ) Tj ET Q q 0 0 0 rg BT 418.67 294.45 Td (instances ) Tj ET Q q 0 0 0 rg BT 457.76 294.45 Td (of ) Tj ET Q q 0 0 0 rg BT 468.52 294.45 Td (fraud, ) Tj ET Q q 0 0 0 rg BT 494.55 294.45 Td (if ) Tj ET Q q 0 0 0 rg BT 503.09 294.45 Td (any) Tj ET Q q 0 0 0 rg BT 516.88 294.45 Td (, ) Tj ET Q q 0 0 0 rg BT 521.81 294.45 Td (within ) Tj ET Q q 0 0 0 rg BT 549.80 294.45 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.79 282.45 Td (have ) Tj ET Q q 0 0 0 rg BT 113.56 282.45 Td (been ) Tj ET Q q 0 0 0 rg BT 135.34 282.45 Td (detected. ) Tj ET Q q 0 0 0 rg BT 174.05 282.45 Td ( ) Tj ET Q q 0 0 0 rg BT 176.74 282.45 Td (These ) Tj ET Q q 0 0 0 rg BT 203.52 282.45 Td (inherent ) Tj ET Q q 0 0 0 rg BT 239.19 282.45 Td (limitations ) Tj ET Q q 0 0 0 rg BT 284.86 282.45 Td (include ) Tj ET Q q 0 0 0 rg BT 317.20 282.45 Td (the ) Tj ET Q q 0 0 0 rg BT 332.31 282.45 Td (realities ) Tj ET Q q 0 0 0 rg BT 366.87 282.45 Td (that ) Tj ET Q q 0 0 0 rg BT 384.76 282.45 Td (judgments ) Tj ET Q q 0 0 0 rg BT 429.33 282.45 Td (in ) Tj ET Q q 0 0 0 rg BT 440.01 282.45 Td (decision-making ) Tj ET Q q 0 0 0 rg BT 509.56 282.45 Td (can ) Tj ET Q q 0 0 0 rg BT 526.33 282.45 Td (be ) Tj ET Q q 0 0 0 rg BT 538.67 282.45 Td (faulty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.45 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 270.45 Td (that ) Tj ET Q q 0 0 0 rg BT 84.43 270.45 Td (breakdowns ) Tj ET Q q 0 0 0 rg BT 135.25 270.45 Td (can ) Tj ET Q q 0 0 0 rg BT 151.63 270.45 Td (occur ) Tj ET Q q 0 0 0 rg BT 176.34 270.45 Td (because ) Tj ET Q q 0 0 0 rg BT 210.48 270.45 Td (of ) Tj ET Q q 0 0 0 rg BT 221.31 270.45 Td (simple ) Tj ET Q q 0 0 0 rg BT 250.48 270.45 Td (mistake ) Tj ET Q q 0 0 0 rg BT 284.08 270.45 Td (or ) Tj ET Q q 0 0 0 rg BT 294.91 270.45 Td (error) Tj ET Q q 0 0 0 rg BT 313.79 270.45 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.45 Td (Additionally) Tj ET Q q 0 0 0 rg BT 99.90 246.45 Td (, ) Tj ET Q q 0 0 0 rg BT 105.53 246.45 Td (controls ) Tj ET Q q 0 0 0 rg BT 140.87 246.45 Td (can ) Tj ET Q q 0 0 0 rg BT 157.87 246.45 Td (be ) Tj ET Q q 0 0 0 rg BT 170.43 246.45 Td (circumvented ) Tj ET Q q 0 0 0 rg BT 227.98 246.45 Td (by ) Tj ET Q q 0 0 0 rg BT 241.10 246.45 Td (the ) Tj ET Q q 0 0 0 rg BT 256.45 246.45 Td (individual ) Tj ET Q q 0 0 0 rg BT 300.12 246.45 Td (acts ) Tj ET Q q 0 0 0 rg BT 318.79 246.45 Td (of ) Tj ET Q q 0 0 0 rg BT 330.25 246.45 Td (some ) Tj ET Q q 0 0 0 rg BT 354.48 246.45 Td (persons, ) Tj ET Q q 0 0 0 rg BT 390.66 246.45 Td (by ) Tj ET Q q 0 0 0 rg BT 403.78 246.45 Td (collusion ) Tj ET Q q 0 0 0 rg BT 443.57 246.45 Td (of ) Tj ET Q q 0 0 0 rg BT 455.03 246.45 Td (two ) Tj ET Q q 0 0 0 rg BT 473.15 246.45 Td (or ) Tj ET Q q 0 0 0 rg BT 484.61 246.45 Td (more ) Tj ET Q q 0 0 0 rg BT 508.28 246.45 Td (people, ) Tj ET Q q 0 0 0 rg BT 540.56 246.45 Td (or ) Tj ET Q q 0 0 0 rg BT 552.02 246.45 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.45 Td (management ) Tj ET Q q 0 0 0 rg BT 103.40 234.45 Td (override ) Tj ET Q q 0 0 0 rg BT 139.03 234.45 Td (of ) Tj ET Q q 0 0 0 rg BT 149.68 234.45 Td (control. ) Tj ET Q q 0 0 0 rg BT 182.82 234.45 Td ( ) Tj ET Q q 0 0 0 rg BT 185.13 234.45 Td ( ) Tj ET Q q 0 0 0 rg BT 187.28 234.45 Td (The ) Tj ET Q q 0 0 0 rg BT 205.14 234.45 Td (design ) Tj ET Q q 0 0 0 rg BT 233.56 234.45 Td (of ) Tj ET Q q 0 0 0 rg BT 244.21 234.45 Td (any ) Tj ET Q q 0 0 0 rg BT 260.96 234.45 Td (system ) Tj ET Q q 0 0 0 rg BT 291.05 234.45 Td (of ) Tj ET Q q 0 0 0 rg BT 301.70 234.45 Td (controls ) Tj ET Q q 0 0 0 rg BT 336.23 234.45 Td (also ) Tj ET Q q 0 0 0 rg BT 354.65 234.45 Td (is ) Tj ET Q q 0 0 0 rg BT 363.64 234.45 Td (based, ) Tj ET Q q 0 0 0 rg BT 391.22 234.45 Td (in ) Tj ET Q q 0 0 0 rg BT 401.31 234.45 Td (part, ) Tj ET Q q 0 0 0 rg BT 421.67 234.45 Td (upon ) Tj ET Q q 0 0 0 rg BT 443.99 234.45 Td (certain ) Tj ET Q q 0 0 0 rg BT 473.50 234.45 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 525.27 234.45 Td (about ) Tj ET Q q 0 0 0 rg BT 549.80 234.45 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.45 Td (likelihood ) Tj ET Q q 0 0 0 rg BT 93.92 222.45 Td (of ) Tj ET Q q 0 0 0 rg BT 105.63 222.45 Td (future ) Tj ET Q q 0 0 0 rg BT 132.87 222.45 Td (events, ) Tj ET Q q 0 0 0 rg BT 164.29 222.45 Td (and ) Tj ET Q q 0 0 0 rg BT 182.10 222.45 Td (there ) Tj ET Q q 0 0 0 rg BT 205.46 222.45 Td (can ) Tj ET Q q 0 0 0 rg BT 222.71 222.45 Td (be ) Tj ET Q q 0 0 0 rg BT 235.52 222.45 Td (no ) Tj ET Q q 0 0 0 rg BT 248.89 222.45 Td (assurance ) Tj ET Q q 0 0 0 rg BT 291.13 222.45 Td (that ) Tj ET Q q 0 0 0 rg BT 309.49 222.45 Td (any ) Tj ET Q q 0 0 0 rg BT 327.30 222.45 Td (design ) Tj ET Q q 0 0 0 rg BT 356.78 222.45 Td (will ) Tj ET Q q 0 0 0 rg BT 375.71 222.45 Td (successfully ) Tj ET Q q 0 0 0 rg BT 427.96 222.45 Td (achieve ) Tj ET Q q 0 0 0 rg BT 461.87 222.45 Td (its ) Tj ET Q q 0 0 0 rg BT 474.69 222.45 Td (stated ) Tj ET Q q 0 0 0 rg BT 501.38 222.45 Td (goals ) Tj ET Q q 0 0 0 rg BT 525.86 222.45 Td (under ) Tj ET Q q 0 0 0 rg BT 552.00 222.45 Td (all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.45 Td (potential ) Tj ET Q q 0 0 0 rg BT 88.94 210.45 Td (future ) Tj ET Q q 0 0 0 rg BT 116.77 210.45 Td (conditions; ) Tj ET Q q 0 0 0 rg BT 165.16 210.45 Td (over ) Tj ET Q q 0 0 0 rg BT 186.88 210.45 Td (time, ) Tj ET Q q 0 0 0 rg BT 211.11 210.45 Td (controls ) Tj ET Q q 0 0 0 rg BT 247.27 210.45 Td (may ) Tj ET Q q 0 0 0 rg BT 268.44 210.45 Td (become ) Tj ET Q q 0 0 0 rg BT 303.49 210.45 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 350.75 210.45 Td (because ) Tj ET Q q 0 0 0 rg BT 386.34 210.45 Td (of ) Tj ET Q q 0 0 0 rg BT 398.62 210.45 Td (changes ) Tj ET Q q 0 0 0 rg BT 434.78 210.45 Td (in ) Tj ET Q q 0 0 0 rg BT 446.51 210.45 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 494.63 210.45 Td (or ) Tj ET Q q 0 0 0 rg BT 506.91 210.45 Td (the ) Tj ET Q q 0 0 0 rg BT 523.07 210.45 Td (degree ) Tj ET Q q 0 0 0 rg BT 553.67 210.45 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.45 Td (compliance ) Tj ET Q q 0 0 0 rg BT 97.97 198.45 Td (with ) Tj ET Q q 0 0 0 rg BT 117.63 198.45 Td (the ) Tj ET Q q 0 0 0 rg BT 131.72 198.45 Td (policies ) Tj ET Q q 0 0 0 rg BT 164.70 198.45 Td (or ) Tj ET Q q 0 0 0 rg BT 174.91 198.45 Td (procedures ) Tj ET Q q 0 0 0 rg BT 220.66 198.45 Td (may ) Tj ET Q q 0 0 0 rg BT 239.75 198.45 Td (deteriorate. ) Tj ET Q q 0 0 0 rg BT 286.88 198.45 Td ( ) Tj ET Q q 0 0 0 rg BT 288.76 198.45 Td ( ) Tj ET Q q 0 0 0 rg BT 290.64 198.45 Td (Because ) Tj ET Q q 0 0 0 rg BT 325.83 198.45 Td (of ) Tj ET Q q 0 0 0 rg BT 336.04 198.45 Td (the ) Tj ET Q q 0 0 0 rg BT 350.14 198.45 Td (inherent ) Tj ET Q q 0 0 0 rg BT 384.78 198.45 Td (limitations ) Tj ET Q q 0 0 0 rg BT 429.44 198.45 Td (in ) Tj ET Q q 0 0 0 rg BT 439.10 198.45 Td (a ) Tj ET Q q 0 0 0 rg BT 445.41 198.45 Td (cost-ef) Tj ET Q q 0 0 0 rg BT 472.44 198.45 Td (fective ) Tj ET Q q 0 0 0 rg BT 501.52 198.45 Td (control ) Tj ET Q q 0 0 0 rg BT 531.72 198.45 Td (system, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.45 Td (misstatements ) Tj ET Q q 0 0 0 rg BT 109.16 186.45 Td (due ) Tj ET Q q 0 0 0 rg BT 126.10 186.45 Td (to ) Tj ET Q q 0 0 0 rg BT 136.38 186.45 Td (error ) Tj ET Q q 0 0 0 rg BT 158.31 186.45 Td (or ) Tj ET Q q 0 0 0 rg BT 169.14 186.45 Td (fraud ) Tj ET Q q 0 0 0 rg BT 192.73 186.45 Td (may ) Tj ET Q q 0 0 0 rg BT 212.45 186.45 Td (occur ) Tj ET Q q 0 0 0 rg BT 237.16 186.45 Td (and ) Tj ET Q q 0 0 0 rg BT 254.10 186.45 Td (not ) Tj ET Q q 0 0 0 rg BT 269.38 186.45 Td (be ) Tj ET Q q 0 0 0 rg BT 281.31 186.45 Td (detected.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.45 Td (The ) Tj ET Q q 0 0 0 rg BT 67.39 162.45 Td (independent ) Tj ET Q q 0 0 0 rg BT 118.10 162.45 Td (registered ) Tj ET Q q 0 0 0 rg BT 159.36 162.45 Td (public ) Tj ET Q q 0 0 0 rg BT 186.19 162.45 Td (accounting ) Tj ET Q q 0 0 0 rg BT 231.90 162.45 Td (firm ) Tj ET Q q 0 0 0 rg BT 250.96 162.45 Td (of ) Tj ET Q q 0 0 0 rg BT 261.13 162.45 Td (BDO ) Tj ET Q q 0 0 0 rg BT 284.08 162.45 Td (USA, ) Tj ET Q q 0 0 0 rg BT 308.42 162.45 Td (LLP) Tj ET Q q 0 0 0 rg BT 325.09 162.45 Td (, ) Tj ET Q q 0 0 0 rg BT 329.43 162.45 Td (as ) Tj ET Q q 0 0 0 rg BT 339.60 162.45 Td (auditors ) Tj ET Q q 0 0 0 rg BT 373.65 162.45 Td (of ) Tj ET Q q 0 0 0 rg BT 383.82 162.45 Td (the ) Tj ET Q q 0 0 0 rg BT 397.88 162.45 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 450.26 162.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 487.08 162.45 Td (statements ) Tj ET Q q 0 0 0 rg BT 531.13 162.45 Td (of ) Tj ET Q q 0 0 0 rg BT 540.89 162.45 Td (Atlas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.45 Td (and ) Tj ET Q q 0 0 0 rg BT 66.68 150.45 Td (its ) Tj ET Q q 0 0 0 rg BT 78.36 150.45 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 130.32 150.45 Td (has ) Tj ET Q q 0 0 0 rg BT 145.88 150.45 Td (issued ) Tj ET Q q 0 0 0 rg BT 173.12 150.45 Td (an ) Tj ET Q q 0 0 0 rg BT 184.80 150.45 Td (attestation ) Tj ET Q q 0 0 0 rg BT 228.14 150.45 Td (report ) Tj ET Q q 0 0 0 rg BT 254.25 150.45 Td (on ) Tj ET Q q 0 0 0 rg BT 266.49 150.45 Td (the ) Tj ET Q q 0 0 0 rg BT 280.94 150.45 Td (ef) Tj ET Q q 0 0 0 rg BT 288.53 150.45 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 335.19 150.45 Td (of ) Tj ET Q q 0 0 0 rg BT 345.76 150.45 Td (management's ) Tj ET Q q 0 0 0 rg BT 404.78 150.45 Td (internal ) Tj ET Q q 0 0 0 rg BT 437.56 150.45 Td (control ) Tj ET Q q 0 0 0 rg BT 468.12 150.45 Td (over ) Tj ET Q q 0 0 0 rg BT 488.13 150.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 525.35 150.45 Td (reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.45 Td (based ) Tj ET Q q 0 0 0 rg BT 76.78 138.45 Td (on ) Tj ET Q q 0 0 0 rg BT 90.80 138.45 Td (criteria ) Tj ET Q q 0 0 0 rg BT 123.13 138.45 Td (established ) Tj ET Q q 0 0 0 rg BT 171.58 138.45 Td (in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 183.37 138.45 Td (Internal ) Tj ET Q q 0 0 0 rg BT 219.60 138.45 Td (Contr) Tj ET Q q 0 0 0 rg BT 242.57 138.45 Td (ol ) Tj ET Q q 0 0 0 rg BT 254.37 138.45 Td (- ) Tj ET Q q 0 0 0 rg BT 261.71 138.45 Td (Integrated ) Tj ET Q q 0 0 0 rg BT 307.39 138.45 Td (Framework, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.56 138.45 Td (issued ) Tj ET Q q 0 0 0 rg BT 389.58 138.45 Td (in ) Tj ET Q q 0 0 0 rg BT 401.37 138.45 Td (2013 ) Tj ET Q q 0 0 0 rg BT 425.39 138.45 Td (by ) Tj ET Q q 0 0 0 rg BT 439.40 138.45 Td (the ) Tj ET Q q 0 0 0 rg BT 455.64 138.45 Td (Committee ) Tj ET Q q 0 0 0 rg BT 504.09 138.45 Td (of ) Tj ET Q q 0 0 0 rg BT 516.44 138.45 Td (Sponsoring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.45 Td (Or) Tj ET Q q 0 0 0 rg BT 60.37 126.45 Td (ganizations ) Tj ET Q q 0 0 0 rg BT 107.84 126.45 Td (of ) Tj ET Q q 0 0 0 rg BT 118.10 126.45 Td (the ) Tj ET Q q 0 0 0 rg BT 132.11 126.45 Td (T) Tj ET Q q 0 0 0 rg BT 137.86 126.45 Td (readway ) Tj ET Q q 0 0 0 rg BT 173.66 126.45 Td (Commission. ) Tj ET Q q 0 0 0 rg BT 228.52 126.45 Td (The ) Tj ET Q q 0 0 0 rg BT 245.99 126.45 Td (attestation ) Tj ET Q q 0 0 0 rg BT 289.02 126.45 Td (report ) Tj ET Q q 0 0 0 rg BT 314.82 126.45 Td (is ) Tj ET Q q 0 0 0 rg BT 323.42 126.45 Td (included ) Tj ET Q q 0 0 0 rg BT 359.79 126.45 Td (in ) Tj ET Q q 0 0 0 rg BT 369.49 126.45 Td (Item ) Tj ET Q q 0 0 0 rg BT 389.75 126.45 Td (8 ) Tj ET Q q 0 0 0 rg BT 396.67 126.45 Td (under ) Tj ET Q q 0 0 0 rg BT 421.37 126.45 Td (the ) Tj ET Q q 0 0 0 rg BT 435.52 126.45 Td (heading ) Tj ET Q q 0 0 0 rg BT 469.10 126.45 Td ("Report ) Tj ET Q q 0 0 0 rg BT 502.33 126.45 Td (of ) Tj ET Q q 0 0 0 rg BT 512.59 126.45 Td (Independent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.45 Td (Registered ) Tj ET Q q 0 0 0 rg BT 95.26 114.45 Td (Public ) Tj ET Q q 0 0 0 rg BT 122.77 114.45 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 171.92 114.45 Td (Firm ) Tj ET Q q 0 0 0 rg BT 193.87 114.45 Td (on ) Tj ET Q q 0 0 0 rg BT 206.37 114.45 Td (Internal ) Tj ET Q q 0 0 0 rg BT 239.97 114.45 Td (Controls ) Tj ET Q q 0 0 0 rg BT 276.91 114.45 Td (over ) Tj ET Q q 0 0 0 rg BT 297.18 114.45 Td (Financial ) Tj ET Q q 0 0 0 rg BT 336.89 114.45 Td (Reporting," ) Tj ET Q q 0 0 0 rg BT 385.97 114.45 Td (and ) Tj ET Q q 0 0 0 rg BT 402.91 114.45 Td (is ) Tj ET Q q 0 0 0 rg BT 412.08 114.45 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 465.11 114.45 Td (herein ) Tj ET Q q 0 0 0 rg BT 492.60 114.45 Td (by ) Tj ET Q q 0 0 0 rg BT 505.10 114.45 Td (reference. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 88.65 Td (Item 9B. Other) Tj ET Q q 0 0 0 rg BT 114.53 88.65 Td ( Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.85 Td (None.) Tj ET Q endstream endobj 159 0 obj <> endobj 160 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Part III.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Item 10. Dir) Tj ET Q q 0 0 0 rg BT 101.75 718.25 Td (ectors, Executive Officers and Corporate Governance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.63 694.25 Td (information ) Tj ET Q q 0 0 0 rg BT 116.92 694.25 Td (required ) Tj ET Q q 0 0 0 rg BT 152.31 694.25 Td (by ) Tj ET Q q 0 0 0 rg BT 164.39 694.25 Td (this ) Tj ET Q q 0 0 0 rg BT 180.92 694.25 Td (Item ) Tj ET Q q 0 0 0 rg BT 201.32 694.25 Td (will ) Tj ET Q q 0 0 0 rg BT 218.96 694.25 Td (be ) Tj ET Q q 0 0 0 rg BT 230.48 694.25 Td (included ) Tj ET Q q 0 0 0 rg BT 266.99 694.25 Td (in ) Tj ET Q q 0 0 0 rg BT 276.85 694.25 Td (our ) Tj ET Q q 0 0 0 rg BT 292.25 694.25 Td (proxy ) Tj ET Q q 0 0 0 rg BT 317.66 694.25 Td (statement ) Tj ET Q q 0 0 0 rg BT 358.06 694.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 390.68 694.25 Td (to ) Tj ET Q q 0 0 0 rg BT 400.54 694.25 Td (our ) Tj ET Q q 0 0 0 rg BT 415.95 694.25 Td (2015 ) Tj ET Q q 0 0 0 rg BT 438.03 694.25 Td (annual ) Tj ET Q q 0 0 0 rg BT 466.76 694.25 Td (meeting ) Tj ET Q q 0 0 0 rg BT 501.06 694.25 Td (of ) Tj ET Q q 0 0 0 rg BT 511.46 694.25 Td (shareholders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (\("Proxy ) Tj ET Q q 0 0 0 rg BT 83.80 682.25 Td (Statement"\), ) Tj ET Q q 0 0 0 rg BT 136.21 682.25 Td (which ) Tj ET Q q 0 0 0 rg BT 163.14 682.25 Td (information ) Tj ET Q q 0 0 0 rg BT 212.86 682.25 Td (is ) Tj ET Q q 0 0 0 rg BT 222.03 682.25 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 275.06 682.25 Td (by ) Tj ET Q q 0 0 0 rg BT 287.56 682.25 Td (reference ) Tj ET Q q 0 0 0 rg BT 327.24 682.25 Td (in ) Tj ET Q q 0 0 0 rg BT 337.52 682.25 Td (this ) Tj ET Q q 0 0 0 rg BT 353.92 682.25 Td (Annual ) Tj ET Q q 0 0 0 rg BT 385.85 682.25 Td (Report ) Tj ET Q q 0 0 0 rg BT 415.57 682.25 Td (on ) Tj ET Q q 0 0 0 rg BT 428.07 682.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 452.24 682.25 Td (10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (Item 1) Tj ET Q q 0 0 0 rg BT 76.94 658.25 Td (1. Executive Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.84 634.25 Td (information ) Tj ET Q q 0 0 0 rg BT 117.34 634.25 Td (required ) Tj ET Q q 0 0 0 rg BT 152.95 634.25 Td (by ) Tj ET Q q 0 0 0 rg BT 165.24 634.25 Td (this ) Tj ET Q q 0 0 0 rg BT 181.98 634.25 Td (Item ) Tj ET Q q 0 0 0 rg BT 202.60 634.25 Td (will ) Tj ET Q q 0 0 0 rg BT 220.44 634.25 Td (be ) Tj ET Q q 0 0 0 rg BT 232.17 634.25 Td (included ) Tj ET Q q 0 0 0 rg BT 268.90 634.25 Td (in ) Tj ET Q q 0 0 0 rg BT 278.97 634.25 Td (the ) Tj ET Q q 0 0 0 rg BT 293.48 634.25 Td (Proxy ) Tj ET Q q 0 0 0 rg BT 319.66 634.25 Td (Statement, ) Tj ET Q q 0 0 0 rg BT 364.44 634.25 Td (which ) Tj ET Q q 0 0 0 rg BT 391.17 634.25 Td (information ) Tj ET Q q 0 0 0 rg BT 440.68 634.25 Td (is ) Tj ET Q q 0 0 0 rg BT 449.64 634.25 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 502.46 634.25 Td (by ) Tj ET Q q 0 0 0 rg BT 514.75 634.25 Td (reference ) Tj ET Q q 0 0 0 rg BT 554.23 634.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (this ) Tj ET Q q 0 0 0 rg BT 66.40 622.25 Td (Annual ) Tj ET Q q 0 0 0 rg BT 98.33 622.25 Td (Report ) Tj ET Q q 0 0 0 rg BT 128.05 622.25 Td (on ) Tj ET Q q 0 0 0 rg BT 140.55 622.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 164.72 622.25 Td (10-K. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder) Tj ET Q q 0 0 0 rg BT 484.51 598.25 Td ( Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (Information ) Tj ET Q q 0 0 0 rg BT 100.11 574.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 140.78 574.25 Td (security ) Tj ET Q q 0 0 0 rg BT 174.78 574.25 Td (ownership ) Tj ET Q q 0 0 0 rg BT 218.79 574.25 Td (of ) Tj ET Q q 0 0 0 rg BT 229.48 574.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 259.03 574.25 Td (beneficial ) Tj ET Q q 0 0 0 rg BT 300.80 574.25 Td (owners ) Tj ET Q q 0 0 0 rg BT 332.03 574.25 Td (and ) Tj ET Q q 0 0 0 rg BT 348.82 574.25 Td (management ) Tj ET Q q 0 0 0 rg BT 402.26 574.25 Td (required ) Tj ET Q q 0 0 0 rg BT 437.92 574.25 Td (by ) Tj ET Q q 0 0 0 rg BT 450.27 574.25 Td (this ) Tj ET Q q 0 0 0 rg BT 467.07 574.25 Td (Item ) Tj ET Q q 0 0 0 rg BT 487.75 574.25 Td (will ) Tj ET Q q 0 0 0 rg BT 505.65 574.25 Td (be ) Tj ET Q q 0 0 0 rg BT 517.44 574.25 Td (included ) Tj ET Q q 0 0 0 rg BT 554.22 574.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 562.25 Td (Proxy ) Tj ET Q q 0 0 0 rg BT 91.11 562.25 Td (Statement, ) Tj ET Q q 0 0 0 rg BT 136.10 562.25 Td (which ) Tj ET Q q 0 0 0 rg BT 163.04 562.25 Td (information ) Tj ET Q q 0 0 0 rg BT 212.75 562.25 Td (is ) Tj ET Q q 0 0 0 rg BT 221.92 562.25 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 274.95 562.25 Td (by ) Tj ET Q q 0 0 0 rg BT 287.45 562.25 Td (reference ) Tj ET Q q 0 0 0 rg BT 327.13 562.25 Td (in ) Tj ET Q q 0 0 0 rg BT 337.41 562.25 Td (this ) Tj ET Q q 0 0 0 rg BT 353.81 562.25 Td (Annual ) Tj ET Q q 0 0 0 rg BT 385.75 562.25 Td (Report ) Tj ET Q q 0 0 0 rg BT 415.46 562.25 Td (on ) Tj ET Q q 0 0 0 rg BT 427.96 562.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 452.13 562.25 Td (10-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (The ) Tj ET Q q 0 0 0 rg BT 68.05 538.25 Td (following ) Tj ET Q q 0 0 0 rg BT 109.43 538.25 Td (table ) Tj ET Q q 0 0 0 rg BT 131.37 538.25 Td (includes ) Tj ET Q q 0 0 0 rg BT 167.19 538.25 Td (information ) Tj ET Q q 0 0 0 rg BT 216.90 538.25 Td (as ) Tj ET Q q 0 0 0 rg BT 227.73 538.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.56 538.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 297.15 538.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 538.25 Td ( ) Tj ET Q q 0 0 0 rg BT 319.65 538.25 Td (with ) Tj ET Q q 0 0 0 rg BT 339.93 538.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 370.74 538.25 Td (to ) Tj ET Q q 0 0 0 rg BT 380.47 538.25 Td (Atlas' ) Tj ET Q q 0 0 0 rg BT 405.88 538.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 433.37 538.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 491.42 538.25 Td (plans:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 506.50 Td (Equity Compensation Plan Information) Tj ET Q 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 59.00 500.75 112.00 -37.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 171.00 500.75 126.00 -37.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 297.00 500.75 117.00 -37.00 re f /GS0 gs 0.7490196078431373 0.8941176470588236 1 rg /GS0 gs 414.00 500.75 138.00 -37.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 171 500.75 m 297 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 171 463.75 m 297 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 500.75 m 414 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 463.75 m 414 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 500.75 m 552 500.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 414 463.75 m 552 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297 463.75 m 414 463.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 177.20 491.98 Td (Number) Tj ET Q q 0 0 0 rg BT 205.50 491.98 Td ( of securities to be issued ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 184.75 483.98 Td (upon exer) Tj ET Q q 0 0 0 rg BT 218.61 483.98 Td (cise of outstanding ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 188.15 475.98 Td (options, warrants & rights ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.50 467.98 Td (\(a\) ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 237.83 471.61 Td (2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 300.30 491.98 Td (W) Tj ET Q q 0 0 0 rg BT 307.86 491.98 Td (eighted average exer) Tj ET Q q 0 0 0 rg BT 377.91 491.98 Td (cise price ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 315.95 483.98 Td (of outstanding options, ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.95 475.98 Td (warrants and rights ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.80 467.98 Td (\(b\) ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 359.58 471.61 Td (3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.50 491.98 Td (Number) Tj ET Q q 0 0 0 rg BT 456.80 491.98 Td ( of securities r) Tj ET Q q 0 0 0 rg BT 504.86 491.98 Td (emaining ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.15 483.98 Td (available for) Tj ET Q q 0 0 0 rg BT 465.89 483.98 Td ( futur) Tj ET Q q 0 0 0 rg BT 485.52 483.98 Td (e issuance under) Tj ET Q q 0 0 0 rg BT 541.83 483.98 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.35 475.98 Td (equity compensation plans \(excluding ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.40 467.98 Td (securities r) Tj ET Q q 0 0 0 rg BT 460.79 467.98 Td (eflected in column \(a\)\) ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 539.00 471.61 Td (4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 61.50 454.98 Td (Equity compensation plans ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 61.50 446.98 Td (appr) Tj ET Q q 0 0 0 rg BT 77.80 446.98 Td (oved by security holders ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 162.69 450.61 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 220.50 447.00 Td (399,623) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.00 451.35 Td (*) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.50 447.00 Td (764,250) Tj ET Q BT /F1 10.00 Tf ET BT /F1 11.00 Tf ET BT /F1 7.15 Tf ET q 0 0 0 rg BT 50.00 420.03 Td (1 ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 55.36 415.05 Td (The Company has no equity compensation plans that were not approved by its security holders.) Tj ET Q BT /F1 11.00 Tf ET BT /F1 7.15 Tf ET q 0 0 0 rg BT 50.00 404.88 Td (2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 53.57 399.90 Td ( Summation of 399,623 shares outstanding under the March 18, 2010, January 18, 201) Tj ET Q q 0 0 0 rg BT 295.36 399.90 Td (1, January 1) Tj ET Q q 0 0 0 rg BT 329.12 399.90 Td (1, 2013 and the March 6, 2014 equity compensation plans) Tj ET Q BT /F1 11.00 Tf ET BT /F1 7.15 Tf ET q 0 0 0 rg BT 50.00 389.68 Td (3 ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 55.36 384.70 Td (A) Tj ET Q q 0 0 0 rg BT 59.90 384.70 Td (verage price not computed due to currency dif) Tj ET Q q 0 0 0 rg BT 189.02 384.70 Td (ferences) Tj ET Q BT /F1 11.00 Tf ET BT /F1 7.15 Tf ET q 0 0 0 rg BT 50.00 374.53 Td (4 ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 55.36 369.55 Td (Equal to the remainder allowable according to the 2013 Equity Incentive Plan \(10% of issued and outstanding ordinary shares\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 346.30 Td (ITEM 13. Certain Relationships and Related ) Tj ET Q q 0 0 0 rg BT 243.44 346.30 Td (T) Tj ET Q q 0 0 0 rg BT 249.37 346.30 Td (ransactions, and Dir) Tj ET Q q 0 0 0 rg BT 336.14 346.30 Td (ector) Tj ET Q q 0 0 0 rg BT 357.61 346.30 Td ( Independence) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 321.30 Td (Information ) Tj ET Q q 0 0 0 rg BT 100.23 321.30 Td (required ) Tj ET Q q 0 0 0 rg BT 136.01 321.30 Td (for ) Tj ET Q q 0 0 0 rg BT 150.14 321.30 Td (Item ) Tj ET Q q 0 0 0 rg BT 170.93 321.30 Td (13 ) Tj ET Q q 0 0 0 rg BT 183.40 321.30 Td (will ) Tj ET Q q 0 0 0 rg BT 201.42 321.30 Td (be ) Tj ET Q q 0 0 0 rg BT 213.33 321.30 Td (included ) Tj ET Q q 0 0 0 rg BT 250.23 321.30 Td (in ) Tj ET Q q 0 0 0 rg BT 260.48 321.30 Td (the ) Tj ET Q q 0 0 0 rg BT 275.16 321.30 Td (Proxy ) Tj ET Q q 0 0 0 rg BT 301.52 321.30 Td (Statement, ) Tj ET Q q 0 0 0 rg BT 346.48 321.30 Td (which ) Tj ET Q q 0 0 0 rg BT 373.38 321.30 Td (information ) Tj ET Q q 0 0 0 rg BT 423.06 321.30 Td (is ) Tj ET Q q 0 0 0 rg BT 432.20 321.30 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 485.20 321.30 Td (by ) Tj ET Q q 0 0 0 rg BT 497.67 321.30 Td (reference ) Tj ET Q q 0 0 0 rg BT 537.32 321.30 Td (in ) Tj ET Q q 0 0 0 rg BT 547.56 321.30 Td (this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 309.30 Td (Annual ) Tj ET Q q 0 0 0 rg BT 81.94 309.30 Td (Report ) Tj ET Q q 0 0 0 rg BT 111.66 309.30 Td (on ) Tj ET Q q 0 0 0 rg BT 124.16 309.30 Td (Form ) Tj ET Q q 0 0 0 rg BT 148.33 309.30 Td (10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 277.50 Td (ITEM 14. Principal ) Tj ET Q q 0 0 0 rg BT 135.56 277.50 Td (Accounting Fees and Services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.50 Td (Information ) Tj ET Q q 0 0 0 rg BT 100.23 259.50 Td (required ) Tj ET Q q 0 0 0 rg BT 136.01 259.50 Td (for ) Tj ET Q q 0 0 0 rg BT 150.14 259.50 Td (Item ) Tj ET Q q 0 0 0 rg BT 170.93 259.50 Td (14 ) Tj ET Q q 0 0 0 rg BT 183.40 259.50 Td (will ) Tj ET Q q 0 0 0 rg BT 201.42 259.50 Td (be ) Tj ET Q q 0 0 0 rg BT 213.33 259.50 Td (included ) Tj ET Q q 0 0 0 rg BT 250.23 259.50 Td (in ) Tj ET Q q 0 0 0 rg BT 260.48 259.50 Td (the ) Tj ET Q q 0 0 0 rg BT 275.16 259.50 Td (Proxy ) Tj ET Q q 0 0 0 rg BT 301.52 259.50 Td (Statement, ) Tj ET Q q 0 0 0 rg BT 346.48 259.50 Td (which ) Tj ET Q q 0 0 0 rg BT 373.38 259.50 Td (information ) Tj ET Q q 0 0 0 rg BT 423.06 259.50 Td (is ) Tj ET Q q 0 0 0 rg BT 432.20 259.50 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 485.20 259.50 Td (by ) Tj ET Q q 0 0 0 rg BT 497.67 259.50 Td (reference ) Tj ET Q q 0 0 0 rg BT 537.32 259.50 Td (in ) Tj ET Q q 0 0 0 rg BT 547.56 259.50 Td (this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.50 Td (Annual ) Tj ET Q q 0 0 0 rg BT 81.94 247.50 Td (Report ) Tj ET Q q 0 0 0 rg BT 111.66 247.50 Td (on ) Tj ET Q q 0 0 0 rg BT 124.16 247.50 Td (Form ) Tj ET Q q 0 0 0 rg BT 148.33 247.50 Td (10-K.) Tj ET Q endstream endobj 161 0 obj <> endobj 162 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (80) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Part IV) Tj ET Q q 0 0 0 rg BT 81.20 742.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 716.45 Td (ITEM 15. EXHIBITS ) Tj ET Q q 0 0 0 rg BT 144.47 716.45 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 224.76 716.45 Td ( ST) Tj ET Q q 0 0 0 rg BT 238.75 716.45 Td (A) Tj ET Q q 0 0 0 rg BT 245.22 716.45 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 288.38 716.45 Td ( SCHEDULES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 691.45 Td (\(a\) \(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.82 691.45 Td ( ) Tj ET Q q 0 0 0 rg BT 78.14 691.45 Td (The following consolidated financial statements, notes thereto and related information of ) Tj ET Q q 0 0 0 rg BT 435.81 691.45 Td (Atlas Financial Holdings, Inc. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 679.45 Td (are included in Item 8.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.45 Td (Consolidated Statements of Income and Comprehensive Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 643.45 Td (Consolidated Statements of Financial Position) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 625.45 Td (Consolidated Statements of Shareholders) Tj ET Q q 0 0 0 rg BT 217.28 625.45 Td ( Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 607.45 Td (Consolidated Statements of Cash Flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.45 Td (Notes to the Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.45 Td (Report of Independent Registered Public ) Tj ET Q q 0 0 0 rg BT 215.24 571.45 Td (Accounting Firm on Internal Control) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 553.45 Td (Reports of Independent Registered Public ) Tj ET Q q 0 0 0 rg BT 219.13 553.45 Td (Accounting Firms) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 520.45 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 64.44 520.45 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.10 520.45 Td ( ) Tj ET Q q 0 0 0 rg BT 78.68 520.45 Td (The ) Tj ET Q q 0 0 0 rg BT 97.00 520.45 Td (following ) Tj ET Q q 0 0 0 rg BT 138.67 520.45 Td (additional ) Tj ET Q q 0 0 0 rg BT 181.44 520.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 219.19 520.45 Td (statement ) Tj ET Q q 0 0 0 rg BT 260.29 520.45 Td (schedules ) Tj ET Q q 0 0 0 rg BT 301.95 520.45 Td (and ) Tj ET Q q 0 0 0 rg BT 319.16 520.45 Td (independent ) Tj ET Q q 0 0 0 rg BT 370.81 520.45 Td (auditors' ) Tj ET Q q 0 0 0 rg BT 407.61 520.45 Td (report ) Tj ET Q q 0 0 0 rg BT 434.27 520.45 Td (are ) Tj ET Q q 0 0 0 rg BT 449.25 520.45 Td (furnished ) Tj ET Q q 0 0 0 rg BT 489.80 520.45 Td (herewith ) Tj ET Q q 0 0 0 rg BT 527.56 520.45 Td (pursuant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.45 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 508.45 Td (the ) Tj ET Q q 0 0 0 rg BT 75.00 508.45 Td (requirements ) Tj ET Q q 0 0 0 rg BT 129.70 508.45 Td (of ) Tj ET Q q 0 0 0 rg BT 140.53 508.45 Td (Form10-K:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.45 Td (Schedules required to be filed under the provisions of RegulationS-X ) Tj ET Q q 0 0 0 rg BT 331.33 484.45 Td (Article7:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 464.65 Td (Schedule II - Condensed Financial Information of Registrant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 444.85 Td (Schedule IV) Tj ET Q q 0 0 0 rg BT 99.53 444.85 Td ( - Reinsurance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.05 Td (Schedule ) Tj ET Q q 0 0 0 rg BT 88.97 425.05 Td (V) Tj ET Q q 0 0 0 rg BT 96.02 425.05 Td ( - ) Tj ET Q q 0 0 0 rg BT 104.17 425.05 Td (V) Tj ET Q q 0 0 0 rg BT 110.28 425.05 Td (aluation and qualifying accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 405.25 Td (Schedule ) Tj ET Q q 0 0 0 rg BT 88.97 405.25 Td (VI - Supplemental information concerning property - casualty insurance operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 387.25 Td (All ) Tj ET Q q 0 0 0 rg BT 65.35 387.25 Td (other ) Tj ET Q q 0 0 0 rg BT 88.46 387.25 Td (schedules ) Tj ET Q q 0 0 0 rg BT 129.91 387.25 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 166.91 387.25 Td (to ) Tj ET Q q 0 0 0 rg BT 176.69 387.25 Td (Article ) Tj ET Q q 0 0 0 rg BT 207.03 387.25 Td (7 ) Tj ET Q q 0 0 0 rg BT 214.59 387.25 Td (of ) Tj ET Q q 0 0 0 rg BT 225.49 387.25 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 271.94 387.25 Td (S-X ) Tj ET Q q 0 0 0 rg BT 290.62 387.25 Td (are ) Tj ET Q q 0 0 0 rg BT 305.40 387.25 Td (omitted ) Tj ET Q q 0 0 0 rg BT 338.52 387.25 Td (because ) Tj ET Q q 0 0 0 rg BT 372.73 387.25 Td (they ) Tj ET Q q 0 0 0 rg BT 392.52 387.25 Td (are ) Tj ET Q q 0 0 0 rg BT 407.29 387.25 Td (not ) Tj ET Q q 0 0 0 rg BT 422.64 387.25 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 468.80 387.25 Td (or ) Tj ET Q q 0 0 0 rg BT 479.70 387.25 Td (because ) Tj ET Q q 0 0 0 rg BT 513.91 387.25 Td (the ) Tj ET Q q 0 0 0 rg BT 528.70 387.25 Td (required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.25 Td (information ) Tj ET Q q 0 0 0 rg BT 99.71 375.25 Td (is ) Tj ET Q q 0 0 0 rg BT 108.88 375.25 Td (included ) Tj ET Q q 0 0 0 rg BT 145.82 375.25 Td (in ) Tj ET Q q 0 0 0 rg BT 156.09 375.25 Td (the ) Tj ET Q q 0 0 0 rg BT 170.81 375.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 223.85 375.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 261.33 375.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 306.04 375.25 Td (or ) Tj ET Q q 0 0 0 rg BT 316.88 375.25 Td (in ) Tj ET Q q 0 0 0 rg BT 327.15 375.25 Td (the ) Tj ET Q q 0 0 0 rg BT 341.87 375.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 365.48 375.25 Td (thereto.) 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0 j 3 M 484.5 678.95 m 554.5 678.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 678.95 m 484.5 678.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 666.95 m 484.5 666.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 678.95 m 554.5 678.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 666.95 m 554.5 666.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 666.95 m 484.5 666.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 666.95 m 554.5 666.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 642.95 m 484.5 642.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 642.95 m 554.5 642.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 642.95 m 484.5 642.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 642.95 m 554.5 642.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 618.95 m 484.5 618.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 618.95 m 554.5 618.95 l s 0 0 0 RG 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484.5 499.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 497.95 m 484.5 497.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 510.95 m 554.5 510.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 499.95 m 554.5 499.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 497.95 m 554.5 497.95 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 683.20 Td (\($ in thousands\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.65 683.35 Td (Year ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 669.68 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.00 669.68 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 657.57 Td (Net investment gain) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 657.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 657.57 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.00 657.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 657.57 Td (96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 645.57 Td (Other underwriting expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 645.57 Td (1,825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 645.57 Td (542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 633.57 Td (Loss from operations before income tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 633.57 Td (\(1,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 633.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 633.57 Td (\(446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 633.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 621.57 Td (Income tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.30 621.57 Td (\(498) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 621.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.30 621.57 Td (\(67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 621.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 609.68 Td (Loss before equity in net income of subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 609.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 609.57 Td (\(1,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 609.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.00 609.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 609.57 Td (\(379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 609.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 597.57 Td (Equity in net income of subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 597.57 Td (19,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 597.57 Td (6,559) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 585.68 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 585.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 585.57 Td (17,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.00 585.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 585.57 Td (6,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 561.57 Td (Other comprehensive income \(loss\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 549.57 Td (Changes in net unrealized gains \(losses\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 549.57 Td (2,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.80 549.57 Td (\(4,354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 549.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 537.57 Td (Reclassification to income of net realized gains \(losses\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 537.57 Td (257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 537.57 Td (\(469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 537.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 525.57 Td (Effect of income tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.30 525.57 Td (\(777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 525.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 525.57 Td (1,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 513.57 Td (Other comprehensive income \(loss\) for the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 513.57 Td (1,509) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.80 513.57 Td (\(3,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 513.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 501.68 Td (Total comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 501.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 501.57 Td (19,211) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.00 501.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 501.57 Td (2,999) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 479.03 Td (See accompanying Notes to Condensed Financial Information of Registrant) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 171 0 obj <> endobj 172 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (85) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 728.30 Td (Schedule II Condensed Financial Information of Registrant \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 701.50 Td (Statements of Financial Position ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 639.00 412.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 639.00 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 639.00 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 610.00 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 610.00 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 610.00 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 580.00 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 580.00 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 580.00 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 550.00 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 550.00 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 550.00 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 523.00 412.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 523.00 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 523.00 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 494.00 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 494.00 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 494.00 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 467.00 412.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 467.00 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 467.00 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 427.00 412.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 427.00 48.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 427.00 52.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 366.00 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 366.00 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 366.00 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 336.00 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 336.00 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 336.00 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 306.00 412.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 306.00 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 306.00 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 279.00 412.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 279.00 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.50 279.00 52.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 664 m 510.5 664 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 664 m 562.5 664 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 664 m 510.5 664 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 639 m 510.5 639 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 664 m 562.5 664 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 639 m 562.5 639 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 639 m 510.5 639 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 639 m 562.5 639 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 550 m 510.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 550 m 562.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 550 m 510.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 536 m 510.5 536 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 534 m 510.5 534 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 550 m 562.5 550 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 536 m 562.5 536 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 534 m 562.5 534 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 534 m 510.5 534 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 536 m 510.5 536 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 534 m 562.5 534 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 536 m 562.5 536 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 494 m 510.5 494 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 494 m 562.5 494 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 494 m 510.5 494 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 479 m 510.5 479 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 494 m 562.5 494 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 479 m 562.5 479 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 321 m 510.5 321 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 321 m 562.5 321 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 321 m 510.5 321 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 306 m 510.5 306 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 321 m 562.5 321 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 306 m 562.5 306 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 306 m 510.5 306 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 292 m 510.5 292 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 290 m 510.5 290 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 306 m 562.5 306 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 292 m 562.5 292 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 290 m 562.5 290 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 290 m 510.5 290 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 292 m 510.5 292 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 290 m 562.5 290 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.5 292 m 562.5 292 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 668.25 Td (\($ in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.90 668.68 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.00 643.68 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.00 643.68 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 629.68 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 614.67 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 614.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.10 614.67 Td (23,428) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 614.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 614.67 Td (289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 599.67 Td (Accrued investment income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.65 599.67 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 599.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 584.67 Td (Accounts receivable and other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 584.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 584.67 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 569.67 Td (Deferred tax asset, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 569.67 Td (515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 569.67 Td (215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 554.67 Td (Investment in subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.10 554.67 Td (85,486) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 554.67 Td (63,313) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 539.68 Td (Total Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 539.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 539.67 Td (109,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 539.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 539.67 Td (63,842) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 513.68 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 498.67 Td (Other liabilities and accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 498.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 498.67 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 498.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 498.67 Td (144) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 483.68 Td (Total Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 483.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 483.67 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 483.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 483.67 Td (144) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 457.68 Td (Shareholders Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 443.57 Td (Preferred shares, par value per share $0.001, 100,000,000 shares authorized, 2,000,000 shares issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 433.57 Td (and outstanding at December 31, 2014 and December 31, 2013. Liquidation value $1.00 per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 431.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 431.67 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 431.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 431.67 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 415.67 Td (Ordinary voting common shares, par value per share $0.003, 266,666,667 shares authorized,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 405.67 Td (11,638,723 shares issued and outstanding at December 31, 2014 and 9,291,871 shares issued and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 395.67 Td (outstanding at December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 395.67 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 395.67 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 380.67 Td (Restricted voting common shares, par value per share $0.003, 33,333,334 shares authorized, 132,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 370.67 Td (shares issued and outstanding at December 31, 2014 and December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 370.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 370.67 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 355.67 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 355.67 Td (196,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.10 355.67 Td (169,595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 340.67 Td (Retained deficit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.80 340.72 Td (\(88,794) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.65 340.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 340.72 Td (\(106,496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 340.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 325.67 Td (Accumulated other comprehensive income \(loss\), net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.65 325.67 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 325.72 Td (\(1,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 325.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 310.68 Td (Total Shareholders Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 310.67 Td (109,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 310.67 Td (63,698) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 295.68 Td (Total Liabilities and Shareholders Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 295.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 295.67 Td (109,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.00 295.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 295.67 Td (63,842) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 270.23 Td (See accompanying notes to Condensed Financial Information of Registrant) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 173 0 obj <> endobj 174 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 715.45 Td (Schedule II Condensed Financial Information of Registrant \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 688.65 Td (Statements of Cash Flow ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 665.15 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 665.15 141.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 637.15 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 637.15 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 637.15 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 608.15 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 608.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 608.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 578.15 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 578.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 578.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 548.15 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 548.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 548.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 518.15 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 518.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 518.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 488.15 359.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 488.15 71.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 488.15 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 462.15 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 462.15 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 462.15 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 434.15 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 434.15 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 434.15 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 406.15 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 406.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 406.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 376.15 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 376.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 376.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 346.15 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 346.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 346.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 316.15 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 316.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 316.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 286.15 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 286.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 286.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 256.15 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 256.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 256.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 227.15 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 227.15 141.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 199.15 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 199.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 199.15 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 169.15 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.50 169.15 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 169.15 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 665.15 m 480.5 665.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 651.15 m 480.5 651.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 665.15 m 550.5 665.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 651.15 m 550.5 651.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 651.15 m 480.5 651.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 637.15 m 480.5 637.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 651.15 m 550.5 651.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 637.15 m 550.5 637.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 637.15 m 480.5 637.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 637.15 m 550.5 637.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 503.15 m 480.5 503.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 503.15 m 550.5 503.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 448.15 m 480.5 448.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 448.15 m 550.5 448.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 301.15 m 480.5 301.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 286.15 m 480.5 286.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 301.15 m 550.5 301.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 286.15 m 550.5 286.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 286.15 m 480.5 286.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 286.15 m 550.5 286.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 256.15 m 480.5 256.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 256.15 m 550.5 256.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 256.15 m 480.5 256.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 242.14999999999998 m 480.5 242.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 240.14999999999998 m 480.5 240.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 256.15 m 550.5 256.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 242.14999999999998 m 550.5 242.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 240.14999999999998 m 550.5 240.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 227.14999999999998 m 480.5 227.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 213.14999999999998 m 480.5 213.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 227.14999999999998 m 550.5 227.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 213.14999999999998 m 550.5 213.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 213.14999999999998 m 480.5 213.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 199.14999999999998 m 480.5 199.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 213.14999999999998 m 550.5 213.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 199.14999999999998 m 550.5 199.14999999999998 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 655.72 Td (\($ in '000's\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 429.65 655.60 Td (Year Ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 641.83 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.00 641.83 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 627.83 Td (Operating Activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 612.82 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 612.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 612.82 Td (17,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.00 612.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 612.82 Td (6,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 597.82 Td (Adjustments to reconcile net income to net cash used in operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 582.82 Td (Equity in net income of subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 582.87 Td (\(19,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 582.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.80 582.87 Td (\(6,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 582.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 567.82 Td (Share-based compensation expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 567.82 Td (1,469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 567.82 Td (247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 552.82 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 552.87 Td (\(301) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 552.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 552.87 Td (\(112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 552.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 537.82 Td (Net changes in operating assets and liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 522.82 Td (Other assets and accrued investment income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 522.82 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 522.87 Td (\(25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 522.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 507.82 Td (Accounts payable and accrued liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 507.87 Td (\(112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 507.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 507.82 Td (144) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 492.83 Td (Net cash flows used in operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 492.87 Td (\(233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 492.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 492.87 Td (\(125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 492.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 466.83 Td (Investing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 452.72 Td (Capital contributions made to subsidiaries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.80 452.77 Td (\(1,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 452.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 452.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 438.83 Td (Net cash flows used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.80 438.77 Td (\(1,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 438.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 438.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 410.83 Td (Financing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 395.82 Td (Preferred share buyback) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 395.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 395.87 Td (\(16,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 395.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 380.82 Td (Proceeds from initial public offering) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 380.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 380.82 Td (9,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 365.82 Td (Issuance of common shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 365.82 Td (25,021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 365.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 350.82 Td (Warrants exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 350.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 350.82 Td (7,181) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 335.82 Td (Dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 335.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.80 335.87 Td (\(2,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 335.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 320.82 Td (Dividends received) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 320.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 320.82 Td (1,752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 305.82 Td (Options exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 305.82 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 305.82 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 290.83 Td (Net cash flows provided by financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 290.82 Td (25,022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 290.82 Td (347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 275.82 Td (Net change in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 275.82 Td (23,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 275.82 Td (222) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 260.82 Td (Cash and cash equivalents, beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 260.82 Td (289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 260.82 Td (67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 245.82 Td (Cash and cash equivalents, end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.00 245.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 245.82 Td (23,428) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.00 245.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 245.82 Td (289) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 217.83 Td (Supplemental disclosure of cash information \(in '000's\):) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.10 217.83 Td (Year Ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 203.83 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.00 203.83 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 188.83 Td (Cash paid \(recovered\) for:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 173.82 Td (Interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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0 0 rg BT 540.91 698.25 Td (notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 686.25 Td (thereto ) Tj ET Q q 0 0 0 rg BT 80.26 686.25 Td (included ) Tj ET Q q 0 0 0 rg BT 117.20 686.25 Td (in ) Tj ET Q q 0 0 0 rg BT 127.48 686.25 Td (Item8. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 659.75 Td (Atlas has no material contingencies, long-term debt obligations or guarantees. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 633.25 Td (Atlas has not received cash dividends from its subsidiaries since its inception on December 31, 2010.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 606.45 Td (Schedule IV) Tj ET Q q 0 0 0 rg BT 101.77 606.45 Td ( Reinsurance) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 582.95 287.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 582.95 45.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 582.95 45.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 582.95 45.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 582.95 45.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 582.95 45.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 536.95 287.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 536.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 536.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 536.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 536.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 536.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 512.95 287.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 512.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 512.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 512.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 512.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 512.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 488.95 287.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 488.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 488.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 488.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 488.95 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 488.95 45.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 582.95 m 382.5 582.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 548.95 m 382.5 548.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 582.95 m 427.5 582.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 548.95 m 427.5 548.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 582.95 m 472.5 582.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 548.95 m 472.5 548.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 582.95 m 517.5 582.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 548.95 m 517.5 548.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 582.95 m 562.5 582.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 548.95 m 562.5 548.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 548.95 m 382.5 548.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 548.95 m 427.5 548.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 548.95 m 472.5 548.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 548.95 m 517.5 548.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 548.95 m 562.5 548.95 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 553.63 Td (\(in '000s\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.55 561.18 Td (Gross) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.45 553.18 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.25 569.18 Td (Ceded to) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 394.35 561.18 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.35 553.18 Td (Companies) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.90 575.03 Td (Assumed) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.10 567.03 Td (from) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.35 559.03 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.35 551.08 Td (Companies) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.50 561.18 Td (Net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.45 553.18 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.15 575.03 Td (% of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.45 567.03 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.90 559.03 Td (Assumed) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.15 551.08 Td (to Net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 539.68 Td (December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 527.57 Td (Premiums earned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 527.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.10 527.57 Td (107,587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 527.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 527.57 Td (\(9,589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 527.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 527.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 527.57 Td (126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 527.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.10 527.57 Td (98,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 527.57 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 527.57 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 503.68 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 491.57 Td (Premiums earned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 491.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.10 491.57 Td (83,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 491.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.80 491.57 Td (\(12,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 491.57 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 491.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 491.57 Td (528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 491.57 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.10 491.57 Td (71,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 491.57 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 491.57 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 451.65 Td (Schedule ) Tj ET Q q 0 0 0 rg BT 90.66 451.65 Td (V) Tj ET Q q 0 0 0 rg BT 97.70 451.65 Td ( ) Tj ET Q q 0 0 0 rg BT 107.52 451.65 Td (V) Tj ET Q q 0 0 0 rg BT 113.82 451.65 Td (aluation and qualifying accounts) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 428.15 287.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 428.15 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 428.15 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 428.15 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 428.15 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 428.15 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 387.15 287.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 387.15 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 387.15 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 387.15 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 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J 0 j 3 M 472.5 428.15 m 517.5 428.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 399.15 m 517.5 399.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 428.15 m 562.5 428.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 399.15 m 562.5 399.15 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 403.83 Td (\(in '000s\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.60 419.38 Td (Balance at) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 342.15 411.38 Td (Beginning) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.80 403.38 Td (of Period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.25 411.38 Td (Charged to) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.70 403.38 Td (Expenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.35 411.38 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.70 403.38 Td (additions) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.35 403.38 Td (Deductions) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.60 419.38 Td (Balance at) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 528.05 411.38 Td (End of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 528.15 403.38 Td (Period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 389.88 Td (December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 377.77 Td (Allowance for uncollectible receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 377.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 377.77 Td (776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 377.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 377.77 Td (505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 377.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 377.77 Td (172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 377.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.30 377.77 Td (\(893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 377.77 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 377.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 377.77 Td (560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 365.77 Td (Valuation allowance for deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 365.77 Td (9,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 365.77 Td (\(9,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 365.77 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 365.77 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.65 365.77 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 365.77 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 341.88 Td (December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 329.77 Td (Allowance for uncollectible receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 329.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 329.77 Td (484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.00 329.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 329.77 Td (764) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 329.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 329.77 Td (281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 329.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.30 329.77 Td (\(753) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 329.77 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 329.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 329.77 Td (776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 317.77 Td (Valuation allowance for deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.10 317.77 Td (11,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.65 317.77 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 317.77 Td (1,006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.80 317.77 Td (\(2,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 317.77 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 317.77 Td (9,446) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 278.15 Td (Schedule ) Tj ET Q q 0 0 0 rg BT 90.66 278.15 Td (VI - Supplemental information concerning pr) Tj ET Q q 0 0 0 rg BT 284.65 278.15 Td (operty-casualty insurance operations) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 254.65 372.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 254.65 140.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 226.65 372.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 226.65 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 226.65 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 196.65 372.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 196.65 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 196.65 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 166.65 372.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 166.65 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 166.65 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 136.65 29.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 79.50 136.65 343.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 136.65 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 136.65 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 106.65 372.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 106.65 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 106.65 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 76.65 372.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 76.65 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 76.65 67.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 240.64999999999998 m 495.5 240.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 226.64999999999998 m 495.5 226.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 240.64999999999998 m 562.5 240.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 226.64999999999998 m 562.5 226.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 226.64999999999998 m 495.5 226.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 226.64999999999998 m 562.5 226.64999999999998 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 245.33 Td (\(in '000s\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.60 245.33 Td (Year Ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.50 231.33 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 231.33 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 216.32 Td (Deferred policy acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 216.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 216.32 Td (8,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 216.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 216.32 Td (6,674) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 201.32 Td (Reserves for insurance claims and claims expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 201.32 Td (102,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 201.32 Td (101,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 186.32 Td (Unearned premiums) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 186.32 Td (58,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 186.32 Td (44,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 171.32 Td (Earned premiums) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 171.32 Td (98,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 171.32 Td (71,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 156.32 Td (Net investment income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 156.32 Td (3,110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 156.32 Td (2,141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 141.32 Td (Claims and claims adjustment expense incurred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 126.32 Td (Current year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 126.32 Td (61,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 126.32 Td (45,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 111.32 Td (Prior year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.30 111.37 Td (\(602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 111.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 111.32 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 96.32 Td (Amortization of deferred policy acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 96.32 Td (14,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 96.32 Td (10,373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 81.32 Td (Paid claims and claim adjustment expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 81.32 Td (62,725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 81.32 Td (50,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 66.32 Td (Gross premium written) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 66.32 Td (122,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 66.32 Td (93,060) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 177 0 obj <> /View <>>>>> endobj 178 0 obj <> /View <>>>>> endobj 179 0 obj <> endobj 180 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;