In April 2009 we consolidated the two general insurance licences of our Australian insurance companies (WFI and LI) into a single general insurance licence, retaining two distinct brands. This will streamline and improve our reporting and governance.

During the year we streamlined our management structure to provide greater focus and to encourage best practice. Two new leadership groups were established for broking and underwriting comprising the chief executive officers and some senior managers from each of these businesses. The structure is intended to provide greater focus and to encourage best practice in addition to the separation of strategic guidance and business development between the broking and underwriting operations.