Mr. Kevin Thompson:

All we know is that we are in a period of unprofitability and volatility in the marketplace. That is one core outcome. It makes the market unattractive for any new player to come in. If we want to get new players in, increase capacity and if we want incumbents to increase their underwriting capacity, then we need to get stability. The answer to Deputy McGrath's question is that if we do not get stability, we will not get extra capacity. People will retrench.