The problem with the last CB/ER deal was the lack of analysis done by CB and the duplication of capacity on any single risk. That does not exist, or is very small, in this arrangement because AWH did not have the U.S. mix of business that DNA did. Rates will turn and AWH will be there to ride the wave. So I disagree with you on this issue but, I will agree that Sill walks away with some serious cash. You can't blame him for that.

I don't work for either company but I follow the industry and this is not the same deal and I think will pay big down the road.