Disclaimer

All information contained herein was prepared by Insurance Capital Markets Research (ICMR, the trading name of IC Markets Research Ltd., registered in England & Wales with company number 12561699), including all statistical tables, charts, graphs or other illustrations contained herein, unless otherwise noted. Results from simulations and projections are for illustrative purposes only and are based on certain assumptions. Therefore the recipient should not place undue reliance on these results. Past performance is not a reliable indicator of future results.

ICMR is not a legal, tax, investment or accounting adviser and makes no representation as to the accuracy or completeness of any data or information gathered or prepared.

This information is not intended to provide the sole basis for any evaluation by you of any transaction, security or instrument. Opinions and estimates constitute ICMR judgment and are subject to change without notice.

The data and analysis provided by ICMR herein or in connection herewith are provided “as is”, without warranty of any kind whether expressed or implied. The analysis is based upon data obtained from external sources, the accuracy of which has not been independently verified by ICMR. ICMR does not guarantee or warrant the correctness, completeness, currentness, merchantability or fitness for a particular purpose of such data and analysis. In no event will ICMR be liable for loss of profits or any other indirect, special, incidental and/or consequential damage of any kind howsoever incurred or designated, arising from any use of the analysis provided herein or in connection herewith.

The information on ICMR (Re)Insurance Specialty Index (RISX and RISXNTR) may not be reproduced or disseminated in whole or in part without prior written permission from Morningstar Indexes Ltd. The information may not be used to verify or correct other data, to create indices, risk models, or analytics, or in connection with issuing, offering, sponsoring, managing or marketing any securities, portfolios, financial products or other investment vehicles. Historical data and analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

The information is provided “as is” and the user of the information assumes the entire risk of any use it may make or permit to be made of the Information. Neither Morningstar Indexes nor ICMR nor any of their respective subsidiaries or their direct or indirect suppliers or any third party (the “Parties”) involved in the making or compiling of the Information makes any warranties or representations and to the maximum extent permitted by law hereby the Parties expressly disclaim all implied warranties including warranties of merchantability and fitness for a particular purpose. Without limiting any of the foregoing and to the maximum extent permitted by law in no event shall the Parties have any liability regarding any of the Information for any direct, indirect, special, punitive, consequential (including loss of profits) or any other damages even if notified of the possibility of such damages. The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited.

Neither ICMR, nor Morningstar Indexes Ltd. nor RISX nor RISXNTR are associated or affiliated in any way with Lloyd’s of London or the Society of Lloyd’s or the Corporation of Lloyd’s.