Premium growth of 5.1% in local currency terms for the quarter and driven by Corporate and New Markets The technical result was DKK 721m compared with DKK 602m in the fourth quarter of 2006 and the combined ratio was 86.2 The pre-tax profit for the full-year 2007 was DKK 3,109m, meeting our expectations for the year The profit and adjusted capital trigger a total amount of DKK 2,561m being returned to shareholders, equivalent to DKK 38 per share or a total distribution of 113% of the profit for the year after tax. The total amount distributed reflects TrygVesta's strong capital position. Expectations for 2008 include gross earned premium growth of 5% in local currency terms, a combined ratio before run-off of around 90 and pre-tax profit of DKK 2,500m. Inclusion of capital losses on equities up to 18 February 2008 would reduce the pre-tax profit to DKK 2,100m.