Cheers Kit.The thing is, and this comes back to my fundamental...

Cheers Kit.
The thing is, and this comes back to my fundamental thinking of investments - I am not really fussed with the investment side of the business having fallen or like for like has declined from pcp.... we all know markets have sagged and lost value (we suck these things up, particularly in business) but it doesnt mean the investments are worthless.

....what will be interesting number is as you said, the COR. Crucial to the financial health of an insurance business. A prudent number (i love seeing COR under 100) will show that they have their underwriting strict and in tact... In fact, i dont even mind a fall in GWP from year to year if the COR year by year shrinks.