Mr. Anthony Brennan:

We tend to have our own investment teams that would look to invest the money for the long-term. In many cases it could be five, six or even ten years before a claim is settled. We would have teams who would look to invest that money in a wide range of different assets. One tries to get diversity. One would try to avoid putting money on deposit at the moment because of negative interest rates but there are times when it is necessary to have access to it if, for example, there are a couple of large claims coming up. One needs to know the cash is available in the company's bank account. Generally one tries to invest in something that hopefully has a positive yield with a longer term.