Mr. John Quinlan:

We have nobody working to optimise pricing to penalise loyal customers. That is absolutely not true. We outlined a process where, to stimulate competition in the marketplace, there can be a difference between a new price offer and a renewal, but over the lifetime of the policyholder, the customer will pay the same amount. Can a person play the system by pretending to be new versus renewal? Potentially. We have seen fronting in the past. It is not our intention to treat our loyal customers unfairly.