directFac is privately held, independent and free of third party debt. This allows us to make unconditional commitments to our clients, our risk capital partners, our employees and our owners. Without the pressure of short term earnings targets we are able to make decisions that are in the best long term interest of our constituents.

Our daily objective is to continue to build on the trust of our clients and risk capital providers while ensuring we deliver superior value.

Annually we transfer billions of dollars of technical risk from our clients' balance sheets to our risk capital partners. We are entrusted to bind lines without any form of referral in excess of $65m any one risk.

This level of authority is unusual and has been developed over a decade with core markets that have supported our company throughout. We take our responsibility to delivering a well-managed portfolio very seriously and as a result have been able to steadily expand our product capabilities year after year.

We are trusted by close to 100 ceding companies nationwide to rapidly provide coverage, on best in class certificate language. Based on our operating model, which we believe to be the lowest cost in the sector, we can offer the most cost efficient pricing for business that fits our appetite.

We are committed to only providing world class security and require minimum security ratings of our risk capital partners which excludes all but the highest rated reinsurers from our panel.

We are focused not simply on ability to pay but also willingness to pay. We strongly believe that syndicating capacity is prudent when transferring significant limit exposures via reinsurance for relatively modest premiums.

Our philosophy is simple - We deliver value by putting our clients' and markets' interests first.