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