Strong consolidated group financial profile based on particularly strong capitalization, and on strong liquidity and financial flexibility. Strong business profile in which leading operations in the United Arab Emirates (UAE), Algeria, Egypt, Senegal, Saudi Arabia, and Jordan are complemented by the BEST RE subgroup writing inward reinsurance in over 60 countries. Long track record of external growth and diversification supported by continuous enhancement of procedures, personnel, systems, risk management, and governance. Recent large losses at BEST RE in Thailand and South Korea have weakened capitalization at the subgroup and brought its "core" status into question. At the same time, the strategy, competitive position, and earnings capacity of the whole group have been brought into question by the current difficulties at
