Overall, the results projections are slightly above expectations, based mainly on the upbeat outlook in the non-life insurance business.

Revenue and net income trends remain below our expectations.

We believe that stable equity markets will support demand for (unit-linked) products, particularly in France and the U.S..

Expansion of our capacities in Denmark is the first step in building a worldwide manufacturing network. We have high expectations from the new factory, which will allow us to provide a faster and more flexible response to market requirements. A further aim is to access the glass fiber manufacturing know-how and expertise available at this location.

We are also working closely with our business partners to exceed customer expectations across our consumer, business and wholesale segments.

When we listened to the third-quarter earnings (report), their credit card business was performing above expectations and they felt that that was going to mitigate the negative impact they were experiencing from their retail operation,