The higher profit is only the effect of a strong decline of the tax rate.

The fourth quarter profit was below estimates, my estimate was 590m or 44 cents per share.

The U.S. result was disappointing.

This is quite conservative. More would have been a bonus.

The positive surprise is insurance in Europe, which has performed quite well, including in the Netherlands.

The U.S. result was disappointing. We expect a bit lower stock price due to the lower U.S. result.