<p><strong>Speaker 0</strong>: <span>well going through the experiences we are at the moment. We were required back in October 21 by Pen Underwriting Limited and it's been an interesting journey. Firstly, when we went through that process of talking to different people, my one bit of advice to people is, make sure you get acquired by somebody that you like dealing with people that you get on with. They're really, really friendly guys, very easy to talk to, and from that point of view, the integration has been a very smooth and easy process.</span></p> <p><strong>Speaker 0</strong>: <span>It would be naive to say you don't get pinch points because you will do They're a much bigger company and we are a much smaller company and so during the integration process, you're going to get those points. But the support you get with a larger company and the support that we get within Penn is great. Be that on the risk and governance, the whole compliance side be that just within the IT world as well. So from that point of view, overall, I would say it's been really good and the guys are a great group of people,</span></p> <p><strong>Speaker 0</strong>: <span>so if I take them one at a time. The cash market, The area that we play in is quite a niche area. We have more limited distribution, but we have a team that really know what they're doing. Led by Pat Wood and Anthony Broom, they know their subject inside out. They work closely with their brokers, and it means that they can focus on writing the right risks and building their relationships with their brokers that they need to service, get to know the client, get to know the customer at the end and make sure that we write the right business for the right price.</span></p> <p><strong>Speaker 0</strong>: <span>So on the UK P I, the marketplace is slightly different. It hardened an awful lot, and it started to not be so hard. Service is still a key factor. Brokers have been very frustrated by the lack of service, particularly by some of the larger insurers out there. And we find that mum it's the fact that we pick up the phone. We talk directly to brokers that enables us to win business.</span></p> <p><strong>Speaker 0</strong>: <span>It also means that we're able to look at those risks that perhaps other insurers are quite quick to not be so keen to look at, whereas at mum we have the expertise, the background and the knowledge to be able to look at those. And we also make sure that our cover is always expanding and growing as we start to move forward. And so that's one of the things that we're constantly looking at as we get into this next stage of the market.</span></p> <p><strong>Speaker 0</strong>: <span>I think the biggest challenge right now is probably coming from the risk and governance, the compliance we're having to do a lot more work as ms on consumer duty and on risk management and on fair value. That all takes time. And that also means as well as taking time. It's going to take more money. And so for Ms Right now, as we're moving into a different cycle within the market, you've got to make sure that you're still charging the right price.</span></p> <p><strong>Speaker 0</strong>: <span>You've got to make sure your product is fit for what the client needs, but that you're getting the right price so that you can make an underwriting profit which will keep your carriers happy. And juggling those three things is quite a tough ask for MGAS. It's very easy just to focus on one of those, and if you forget one of them, then you're going to end up in trouble</span></p>