All up - as good as good as could be expected.Key positive was...

All up - as good as good as could be expected.

Key positive was the loss ratio - at less than 40% this was outstanding but also unlikely to be sustainable. would be interesting to know what reserving policies are on long-tail business.

Key negative was the staff costs - higher than i would have expected.

however, my longer term reservations over the position of CIX in the Australian insurance market remain.