As the regulator, I must say that the Reserve Bank has enjoyed a very collaborative relationship with the industry. We continue to meet once a year with individual companies. The Insurance Task Force has helped resolved many issues and I would like this Committee to meet more often in 2007.
I am glad to say that the insurance industry is sound and the financial system is stable. On our part, the Reserve Bank will continue to develop new policies and progressively move towards enhancing its supervision based on sound risk assessments.