Historical LAE (lower is better).... <pre> 2007 2006 2005 2004 Q4 25.5% 44.5% ??? Q3 58.5% 50.6% 65.4% Q2 57.4% 48.0% 55.5% 52.6% Q1 56.8% 47.5% 63.8% 77.0% </pre> Mike