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Standard actuarial techniques are used to calculate the ultimate claims and claim expenses. Management fee income was relatively stable in , primarily due to the reduced size of our structured reinsurance products and lower capital managed at Upsilon Fund , largely offset by increased capital managed at other joint ventures and Medici, including the impact of Fontana from the second quarter of For incurred accident year claims and claim expenses denominated in currencies other than USD, we have used the current year-end balance sheet foreign exchange rate for all periods provided, thereby eliminating the effects of changes in foreign currency translation rates from the incurred accident year claims development information included in the table below. For purposes of the annual impairment evaluation, we assess qualitative factors to determine if events or circumstances exist that would lead us to conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Our strategy focuses on operating as an integrated system of three competitive advantages: superior risk selection, superior customer relationships and superior capital management.

1453773 bitcoin in usd

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