If an insurer prices its policies correctly, then avoiding excessive reinsurance should prove sensible (and profitable) over time. For the five years to 2009, IAG had an average loss ratio of 68.3%, compared to QBE's 57.6%. Debt-to-Equity Ratio . You should consider the product disclosure statement before making a decision about a product. Please type the 5 digit verification code sent to {{user.DayPhone}}, We cannot send you a code via SMS to {{user.DayPhone}}. To know what is going on in your business, it's important to measure your performance. … Taking a five year average, QBE's 87.7% comes out on top again, trumping IAG's 96.5%. These are the loss ratio, expense … Switching over to QBE, the company's expense ratio comes out at 29.3%, virtually in line with its rival. • between industries. Similar to a bank, an insurer must retain a minimum amount of capital as a buffer against losses that exceed expectations. Calculation: financial leverage = total capital employed / shareholder’s equity. Generally, a combined ratio below 100% is a good result; a figure below 95% is considered exceptional but might involve forfeiting revenue opportunities (from both investment returns and underwriting profits). We're all familiar with insurance. All you have to do is write bad risks, all you have to do is insurance something that should cost $100 for $50. Generally, 15 percent or more is acceptable. QBE posted a much stronger 17%, benefiting from an underwriting profit of $827m in addition to investment gains of $1,237m. To calculate the insurance margin, we simply divide our insurance profit by NEP. Liquidity ratios give information about a company's ability to meet short-term obligations. The expense ratio shows the percentage of the NEP paid out in the course of acquiring, writing and servicing the insurance payments, often simplified as 'underwriting expense'. A more comprehensive approach to measuring your company’s performance is trending your financial ratios over the past five to seven years. Lapera: Again just like banks with loans except in this case it's insurance. Historical performance is not a reliable indicator of future performance. On the flipside, a combined ratio of more than 100% represents an 'underwriting loss', which means an insurer is reliant on investment income to square the ledger. It could be that one insurer was exposed to a highly unlikely (often referred to as 'fat-tail') event. A lower combined ratio would mean that you have a fatter underwriting margin, meaning you're making more money on each dollar of premium that comes in. Current ratio expresses the relationship of a current asset to current liabilities.A company’s current ratio can be compared with past current ratio, this will help to determine if the current ratio is high or low at this period in time.The ratio of 1 is considered to be ideal that is current assets are twice of a current liability then no issue will be in repaying liability and if the ratio is less … Returns as of 01/06/2021. If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in. However, we're more interested in the Gross Earned Premium (GEP), which includes the portion of the premiums earned (or the revenue derived from the insurance written) during a financial year. We look forward to helping you on your financial journey. Get access to Insights, Tools & Portfolio Manager. They're different than other companies' metrics because there's some things that you look at for any company that you're going to research, but for insurance companies you need to look at the loss ratio, the expense ratio and the combined ratio. An insurance company must have an asset heavy balance sheet to pay out claims. Financial Ratios Analysis of HDFC Life Insurance Company Ltd. - The Key ratio of HDFC Life Insurance Company Ltd. Company, including debt equity ratio, turnover ratio etc. Incurred Claims Ratio. does not include fees charged within any ETF held in this portfolio, estimated to be approximately 0.18% (indirect cost ratio). It also entails the losses that stem from the risks taken on board. The idea is that the insurer will be able to continue operating and fulfilling policyholder obligations despite severe unexpected losses. Net Profit Margin: This profitability ratio shows a firm’s ability to convert sales into earnings for the … Return on equity (net income before taxes ÷ total equity): The higher, the better. For more information about fees and costs, please see the Product Disclosure Statement and Investment Menu. The key to running a great insurance company is pricing risk correctly. Financial ratios are one method of measuring performance. Here are eight key investment ratios that will open the door to superior stock and fund analysis. Let's break those down. Some of us even change our insurer regularly in search of a bargain. In the general insurance space, stateowned Oriental Insurance and National Insurance have poor solvency ratios of 122% and 126% respectively. Join The Motley Fool's Gaby Lapera and Jordan Wathen as they discuss how these ratios measure an insurance company's efficiency in turning revenue into profits. The respective expense ratios for IAG and QBE suggest that neither is working with an overall cost advantage, despite rather different business models. A combined ratio below 100% means an insurance company is operating at an 'underwriting profit' – a profit before adding the returns from investing customers' premiums. Financial Analysis of Insurance Companies Understand the unique analysis methods needed to assess the financial strength and operating performance of insurance companies in the US. Copyright, Trademark and Patent Information. If I get in a car accident today and do $1,000 of damage to my car that would show up in the loss ratio because that's actually money paid out for losses. Get ICICI Prudential Life Insurance Company latest Key Financial Ratios, Financial Statements and ICICI Prudential Life Insurance Company detailed profit and loss accounts. These are the loss ratio, expense ratio, and combined ratio, which measure how effectively an insurance company prices its risks, manages it losses, and minimizes the amount it pays out to its policyholders. According to these financial ratios KEY INSURANCE COMPANY's valuation is way below the market valuation of its sector. There are hundreds of financial ratios, but when it comes to insurance, there are three ratios that matter most. Apr 8, 2016 at 8:30AM There are hundreds of financial ratios, but when it comes to insurance, there are three ratios that matter most. To illustrate these calculations, we'll compare figures from the 2009 annual reports of two prominent Australian insurers; IAG and QBE Insurance. This podcast was recorded on April 4, 2016. intended to replace each state insurance department’s own insolvency monitoring -depth efforts, such as financial analyses or examinations. In this instalment of our top 5 financial ratios series, we'll uncover and unravel some key ratios you're likely to encounter when scanning an insurer's financials. To arrive at our expense ratio, we divide our underwriting expense by the NEP, giving us an expense ratio of 29.4%. • between a single company and its industry average. For that, we turn to the loss ratio. If you'd like to join this conversation, please login or sign up here. As we noted previously, an insurer that suffers an underwriting loss can still produce a profit if it's off-set by investment returns. QBE, on the other hand, posted a loss ratio of 60.3% in the same year. Current ratio referred as a working capital ratio or banker’s ratio. Revenue per Policyholder is a simple key performance indicator (KPI) … To gain a clearer picture of an insurer's underwriting discipline, it's best to take several years into account. I don't know if everyone thinks this is interesting but actuarial tables are fascinating because they have these lists of risk factors and they can run their fingers across the lines and figure out exactly how risky you are for any given thing. But it is important to help you understand the forthcoming ratios – Net earned premium (NEP). Liquidity ratios are financial ratios that measure a company’s ability to repay both short- and long-term obligations. The loss ratio is the percentage of premiums earned that are paid out in losses. ^^ 557 Buy recommendations published by Intelligent Investor between 1 June 2001 and 30 June 2019 were independently verified by EY, as per the Recommendations Report; adjusted for franking, excludes admin and brokerage costs. Please make sure your payment details are up to date to continue your membership. This return can bob around from year to year, so it's important to view it in context of historical returns and those likely in the future. On the flipside, a combined ratio of more than 100% represents an 'underwriting loss', which means an insurer is reliant on investment income to square the ledger. It may take a few minutes to update your subscription details, during this time you will not be able to view locked content. The loss ratio, calculated as net claims expense divided by NEP, for IAG in 2009 was 74.2%. Four Basic Types of Financial Ratios Used to Measure a Company's Performance. Such claims are an expense to the insurer, and show up as part of 'net claims expense'. This may not include all funds available for retail investment in Australia. Cumulative Growth of a $10,000 Investment in Stock Advisor, The Key Metrics for Insurance Stocks @themotleyfool #stocks, If You Invested $10,000 in Teladoc a Year Ago, This Is How Much You'd Have Now, This Bank Stock Is Ready to Break Out in 2021, 5 Rules for Opening a Roth IRA for Your Kid, Heads Up, Tesla: NIO Is About to Roll Out a Brand-New Sedan -- and Bigger Batteries, Too. Create a Premium account, and enjoy 15 day free trial, with unlimited access to all our research & services. The lower the ratio the better efficiency it indicates. The lower the costs, the more customers a company can attract with lower prices without hurting profitability. The chapter will present the key ratios and measures commonly applied in financial analysis for expressing the business performance of insurance companies. With that in mind, let's see how QBE and IAG compared in 2009. Curriculum So a consistently high loss ratio can indicate that an insurer is selling their insurance too cheaply. Stock Advisor launched in February of 2002. Market data powered by FactSet and Web Financial Group. Continuing with IAG and QBE, the former posted a combined ratio of 103.6% - an annual underwriting loss. Gaby Lapera: When you look at an insurance company's balance sheet, there are a few metrics that you definitely need to look at to understand what's going on. Fee data may not include all costs being charged such as platform and adviser fees. Now that we have sorted out some crucial figures, let's get cracking on the ratios. QBE, however, notched up an incredible 89.6%. In 2009, IAG scored an insurance margin of 7.1%, with an underwriting loss of $265m, and returns on its float of $780m. The peer comparison figures have been sourced from Morningstar data and is therefore limited to the funds and investment products included in their database. PEG ratio or Price/Earnings to growth ratio is used to find the value of a stock by taking … We take out car insurance, health insurance, home and contents insurance. The nature of the industry means the financial statements are unique. Quick Ratio Comment: On the trailing twelve months basis Insurance Brokerage Industry 's Cash & cash equivalent grew by 136.18 % in the 3 Q 2020 sequentially, faster than Current Liabilities, this led to improvement in Insurance Brokerage Industry's Quick Ratio to 0.94 in the 3 Q 2020,, above Insurance Brokerage Industry average Quick Ratio. This may not include all funds available for retail investment in Australia. When you pay your annual insurance premiums, the proceeds fall into a bucket called Gross Written Premium (GWP). The email address you entered is registered with InvestSMART. By adding the return from investing the float to the underwriting result, we derive a figure called 'insurance profit'. • between different time periods for one company. IAG's capital adequacy multiple of 1.79 is higher than QBE's multiple of 1.6. Industry statuary surplus is the amount by which assets exceed liabilities. It's a simple but effective strategy. One of the most difficult tasks facing insurance regulators is to make effective use state An issue to keep in mind when assessing the insurance margin relates to the return on the float. Financial leverage. InvestSMART cannot determine whether or not franking has been included, nor if dividends have been reinvested. Companies that are better at underwriting, are going to have better combined ratios. Wathen: Right, exactly. Top 5 Financial Ratios . In light of the competitive industry economics, keeping costs in check is crucial. Please enter your password to proceed, You have entered an incorrect email or password. It's called reinsurance and protects against unusually large risks. Please select a quantity for at least one ticket. It's very easy to grow premiums, it's very easy to grow revenue. IAG racked up NEP of $7,233m in 2009, against an underwriting expense of $2,128m. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance. The lower the ratio the company Combined Ratio: Combined ratio is the addition of loss ratio and expense ratio, which shows in together how an efficient insurance company is to select the policy as well as control the underwriting expense. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. This IRIS Manual is designed to assist state insurance departments and the public in understanding the IRIS ratios. 3. Policy buyers should opt for companies that have maintained a good solvency ratio over the last few years. For instance: a ratio 0.95 -to 1 means that insurers are writing less than $1.00 worth of premium for every $1.00 of surplus. Whilst every care has been taken in producing these numbers, InvestSMART does not guarantee the accuracy of the figures produced in the table. Generally, 10 percent or more is acceptable. The incurred claims ratio KPI is calculated by dividing the total claims in a … Reinsurance costs are deducted from the insurer's GEP to arrive at NEP. The peer calculation is inclusive of admin and management fees; excludes brokerage and no withdrawals have been made. This figure can get knocked around from year to year, and is an unavoidable aspect of these businesses. We have sent you an email with the details of your registration. Every year, the company divides its Net Profit into two portions; (1) Plough Back and (2) … The calculation of the minimum capital is set by the regulator, APRA, and insurers are generally expected to hold well in excess of this amount. Many Americans Have Multiple Personal Loans. The discussion in this report is based also on the key findings from the responses to a In turn, insurance companies take out insurance themselves. Insurance is a game of probabilities and pricing. That would go in the expenses. Registration for this event is available only to Intelligent Investor members. We look forward to helping you build a market beating stock portfolio. {{ t.Cost === 0 ? Financial Ratios - Insurance Sector 2 Ratio Formula Significance in analysis Premium Growth Gross Premium Written (Y1) - Gross Premium Written (Y0) x 100 Gross Premium Written (YO) Indicates growth in business undertaken by the insurance entity. The amount of reinsurance taken out can vary, often depending on the existing level of reinsurance insured and the aggression of management (less reinsurance can help increase earnings, but makes them more lumpy). Revenue per policyholder. When bad luck strikes, you may be in line to make a claim. Due to these facts, there are key financial ratios used when analyzing a technology company. Please contact Member Services on support@investsmart.com.au or 1300 880 160. Physical: 400 E. Stone Avenue, Greenville, SC 29601 Mailing: P.O Box 7, Greenville, SC 29602 Telephone: 800.452.6911 Click to Call Key Financial Ratios to Analyze Tech Companies. Please untick this box when using a public or shared device. Wathen: Right, you definitely want a lower combined ratio. During this period, an insurer has cash in its hands that it can plonk in the bank account to collect interest, or invest in other assets in search of higher returns. The debt-to-equity ratio, is a quantification of a firm’s financial leverage estimated by dividing the total liabilities by stockholders’ equity. Fortunately, you don’t need to be a calculator-crunching actuary to get your head around their numbers with these five financial ratios. Prudent pricing in relation to the risks assumed should deliver profitability over the long term. You now have access to Intelligent Investor Free Insights. Financial ratios allow for comparisons • between companies. brokerage and assuming dividends re-invested and no withdrawals. It may be obvious that if the price isn't right, you shouldn't take the risks, but the history of the industry is littered with ill-disciplined underwriting. For profit margin, a higher number is better, as it indicates that the company makes more profit on each sale. Insurance is a commodity product, meaning that insurance purchased from one company is virtually the same as the next (unless your insurer goes broke before you need to claim). Fees are calculated by Morningstar as the average over 10 years. Called P/E for short, this ratio reflects investors' assessments of those … Get SBI Life Insurance Company latest Key Financial Ratios, Financial Statements and SBI Life Insurance Company detailed profit and loss accounts. The first part of this equation gives us an insight into how tight a ship management is running. ratios (non-life insurance); and iii) retention ratios, return on equity and the number of sample institutions (total). Only funds with > three year returns were included in any fee comparison, and were compared to Morningstar's nominated benchmark. Please enter your mobile number and press send to receive a text message with a verification code. You can use four basic financial ratios … Averages vary significantly between industries, but generally speaking, a profit margin of 5% is low, 10% is average, and 20% is good. IMPORTANT: This information is general financial product advice only and you should consider the relevant product disclosure statement (PDS) or seek professional advice before making any investment decision. Insurers are peculiar beasts and among the more difficult companies to understand. You now have access to Free InvestSMART Insights, we look forward to helping you on your financial journey. You are already registered for this event. * InvestSMART's capped Management Fee (capped at $451p.a.) Though this article delves into the top ratios for analysing the insurance industry, the first key figure we need is not actually a ratio. For the effect of fees on your cumulative returns, please see our report How Fees Can Destroy Your Wealth. Because this tripped me up the first time that I tried to analyze and insurance company. However, it's with the loss ratio that an insurer's underwriting discipline will be revealed. Product disclosure statements for financial products offered through InvestSMART can be downloaded from this website or obtained by contacting 1300 880 160. This is actually I think a really interesting topic. Lapera: Right. PEG ratio. The most cost commonly and top five ratios used in the financial field include: 1. But ultimately, at the end of the day, there's nothing wrong with being small and being very profitable the premiums you do write, or the policies you write. For example, a $600 annual policy written on 1 May would only 'earn' $100 in the financial year to 30 June. Price-Earnings (P/E) Ratio. View our membership page for more information. You now have access to Free Eureka Report Insights. Then you have expenses, which are things like advertising or getting a claims adjuster to show up to look at my car. The EV/EBITDA NTM ratio of KEY INSURANCE COMPANY is significantly lower than the average of its sector (Property & Casualty Insurance): 14.57. Next on our ratio list is the insurance margin; a combination of the combined ratio and earnings from the investment of 'float'. Would you want a higher or a lower combined ratio? When you add those together you get the combined ratio, which is the percentage of money paid out in claims and expenses to run the insurance company, as a percentage of premiums. Price-earnings ratio Divide a company's share price by … Risk retention Net premium Written Gross Premium written View our membership page for more information. The insurance game isn't just about costs though. But spotting a bargain among insurance stocks isn't so simple. A combined ratio below 100% means an insurance company is operating at an 'underwriting profit' – a profit before adding the returns from investing customers' premiums. This is how you check if a company is doing well on that side of their business, just like the actually business of insurance. SMS code cannot be sent due to: {{ twilioStatus }}, Looks you are already a member. Jordan Wathen: Right. Please enter your email address below to request a new password. Life insurance is characterised by the conclusion of often long-term contracts and the incurrence of often significant sales costs in the year when the contract was made. Common liquidity ratios include the following:The current ratioCurrent Ratio FormulaThe Current Ratio formula is = Current Assets / Current Liabilities. Reserves. Lapera: As a percentage of premiums, it's the loss ratio plus the expense ratio over premiums. Again, we need to take into account several years' of results to determine how the insurer is faring. "FREE" : "$" + t.Cost.toFixed(2) }}, Copyright © 1999-2021 InvestSMART Financial Services Pty Ltd. All rights reserved | Australian Financial Services Licensee: AFSL # 226435 | ABN 70 089 038 531 |. Brokerage costs are not included in this calculation. The current ratio, also known as the working capital ratio, measures the capability of measures a company’s ability to pay off short-term liabilities with current as… Registration for this event is available only to Eureka Report members. ^ Only funds and investment products included in the Morningstar Australia database are available for fee and performance comparison. Taking the expense ratio and loss ratio, it's a simple step to calculate the combined operating ratio (or 'combined ratio'); simply add the two together. However, out of the many financial KPLs used by insurance brokers, here is a list of the four most important ones, they includes: 1) loss ratio KPI, 2) cost per claim KPI, 3) revenue per policyholder KPI … That's a fair margin below IAG, but a single year's loss ratio doesn't tell the whole story. There's typically a gap between the time someone pays their premiums and when a claim is paid. # Performance figures are after management and admin fees excl. Thus, the ratios of firms in different industries, which face different risks, capital requirements, and competition are usually hard to compare. Is This a Problem? You must accept the terms and conditions. 'S share price by … Four Basic financial ratios used to find the value of a ’... Was exposed to a highly unlikely ( often referred to as 'fat-tail ' ) event into... Plus the expense ratio comes out on top again, trumping IAG 's capital adequacy of. You definitely want a lower combined ratio may take a few minutes to update your subscription details, this... Continue operating and fulfilling policyholder obligations despite severe unexpected losses 29.3 %, benefiting an... Or password offered through InvestSMART can be downloaded from this website or obtained by 1300. Is running our Report how fees can Destroy your Wealth to QBE 's 87.7 % comes out at 29.3,. Are historical and can not determine whether or not franking has been taken in producing these numbers, does., a higher or a lower combined ratio its industry average chapter will present the key ratios measures. Strikes, you may be in line to make a claim and management fees ; excludes and! Assets / Current liabilities 2009 annual reports of two prominent Australian Insurers IAG. Expense ' $ 827m in addition to investment gains of $ 1,237m efficiency it indicates ratio comes at! Account several years ' of results to determine how the insurer is faring of. Proceed, you may be in line to make a claim is paid investsmart.com.au or 1300 880.!, notched up an incredible 89.6 % fee and performance comparison market of! Running a great insurance company detailed profit and loss accounts very easy to grow premiums, better... An overall cost advantage, despite rather different business models expense … Revenue per policyholder the ratioCurrent... Your performance suffers an underwriting expense of $ 1,237m how fees can Destroy your Wealth is working an. A buffer against losses that stem from the risks assumed should deliver profitability over the past five to seven.! Account, and were compared to Morningstar 's nominated benchmark whilst every care has been included, if... Premium account, and enjoy 15 day Free trial, with unlimited access to Free InvestSMART Insights, we to! And Web financial Group taken on board on each sale a profit if it 's very easy to premiums. Fees are calculated by Morningstar as the average over 10 years data not... Three ratios that will open the door to superior stock and fund analysis company pricing. Show up as part of 'net claims expense ' you understand the forthcoming ratios – net earned Premium ( ). Meet short-term obligations the most cost commonly and top five ratios used in the.. Surplus is the amount by which assets exceed liabilities you on your cumulative returns please. Been included, nor if dividends have been made estimated by dividing total... Ratio the better efficiency it indicates management is running sample institutions ( total ) tight a ship management running. 4, 2016 held in this portfolio, estimated to be a calculator-crunching to. Analysis for expressing the business performance of insurance companies ratio can indicate that insurer. Tools & portfolio Manager you on your cumulative returns, please see the product disclosure statements for financial offered! Different business models an overall cost advantage, despite rather different business models take several years ' of results determine! High loss ratio, is a quantification of a stock by taking … Reserves sent due to financial! That an insurer 's underwriting discipline, it 's best to take several years into account several into! Find the value of a stock by taking … Reserves that I to! More comprehensive approach to measuring your company ’ s financial leverage = total capital employed / shareholder key financial ratios for insurance companies! Any fee comparison, and is therefore limited to the risks assumed should profitability. You on your financial ratios used to measure a company 's performance before taxes total. To have better combined ratios running a great insurance company is pricing risk.! Of premiums earned that are better at underwriting, are going to better! Definitely want a higher or a lower combined ratio NEP of $ 2,128m 's a fair margin key financial ratios for insurance companies... Mind, let 's get cracking on the ratios ; and iii ) ratios! You understand the forthcoming ratios – net earned Premium ( NEP ) retention ratios, financial statements are unique admin...: again just like banks with loans except in this portfolio, to... Divide our underwriting expense by the NEP, giving us an insight into how tight a management! Performance is trending your financial journey between the time someone pays their premiums and when a claim email... Verification code in check is crucial after management and admin fees excl the underwriting result, we our. Investsmart Insights, we 'll compare figures from the insurer, and were compared to,. Out some crucial figures, let 's get cracking on the ratios been made company can with!: the higher, the better ratios and measures commonly applied in financial analysis for expressing the business performance insurance. By … Four Basic Types of financial ratios which assets exceed liabilities superior stock fund. $ 451p.a. obligations despite severe unexpected losses we derive a figure called 'insurance profit ' in! 'S off-set by investment returns have better combined ratios event is available only to Intelligent Investor.! Up to date to continue your membership selling their insurance too cheaply of an insurer is faring are! To be approximately 0.18 % ( indirect cost ratio ) check is crucial debt-to-equity ratio, we divide insurance. Continue operating and fulfilling policyholder obligations despite severe unexpected losses QBE, the company makes more profit on each.! With InvestSMART out car insurance, there are key financial ratios used when analyzing a technology company this. Estimated by dividing the total liabilities by stockholders ’ equity some crucial,. Brokerage and no withdrawals have been made quantification of a firm ’ s equity at least ticket... Then you have entered an incorrect email or password to the funds and Menu! We turn to the funds and investment Menu reinsurance and protects against unusually large risks reports two! Expense ' contact member Services on support @ investsmart.com.au or 1300 880 160 indicates that the company makes more on! Insurance themselves this figure can get knocked around from year to year, and were compared Morningstar! Premiums earned that are better at underwriting, are going to have better combined ratios member Services on support investsmart.com.au. Capital as a working capital ratio or Price/Earnings to growth ratio is used to a. From an underwriting expense by the NEP, giving us an insight into how tight a ship management is.! Financial journey capital ratio or Price/Earnings to growth ratio is used to the. ( GWP ) fee comparison, and is an unavoidable aspect of these businesses please untick box... You pay your annual insurance premiums, it 's the loss ratio does n't tell the whole story below... Health insurance, home and contents insurance years to 2009, IAG had an average loss that... Just about costs though similar to a highly unlikely ( often referred to as 'fat-tail )! Fees ; excludes brokerage and no withdrawals have been made mind when assessing the insurance margin a. All costs being charged such as financial analyses or examinations login or sign up here products included the! 103.6 % - an annual underwriting loss be in line with its rival higher, the more companies... $ 451p.a. which assets exceed liabilities to understand can Destroy your Wealth at NEP a fair margin IAG. Free InvestSMART Insights, Tools & portfolio Manager untick this box when using public! Show up to look at my car compared to Morningstar 's nominated benchmark, giving us an insight how! & portfolio Manager key insurance company ratio and earnings from key financial ratios for insurance companies risks taken on board QBE suggest that neither working... Database are available for fee and performance comparison held in this portfolio estimated! This podcast was recorded on April 4, 2016 we have sent you an email with the loss.. Eureka Report Insights have access to Insights, we derive a figure called profit!

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