1 unchanged sentence
We own and manage a large investment portfolio of various holdings, types and maturities.
−Removed: Investment income is one of our material sources of revenues and the investment portfolio represents the primary source of cash flows supporting operations and claim payments.
+Added: Investment income is one of our material sources of revenue and the investment portfolio represents the primary resource supporting operational and claim payments.
The assets within the investment portfolio are exposed to the same factors that affect overall financial market performance.
While our investment portfolio is exposed to factors affecting markets worldwide, it is most sensitive to fluctuations in the drivers of United States markets.
−Removed: We manage market risk via our defined investment policy guidelines implemented by our Parent’s investment team with oversight from our board of directors and our senior management.
−Removed: Important drivers of our market risk exposure monitored and managed by us include but are not limited to:
+Added: We manage market risk via our defined investment policy guidelines implemented by our investment managers with oversight from our Board of Directors and our senior management.
+Added: Important drivers of our market risk exposure that we monitor and manage include but are not limited to:
• Changes to the level of interest rates .
15 unchanged sentences
Market risk is measured for all investment assets at the individual security level.
−Removed: Market risks that are not fully captured by the quantitative analysis are highlighted.
−Removed: In addition, material market risk changes that occur from the last reporting period to the current are discussed.
−Removed: Changes to how risks are managed will also be identified and described.
+Added: Market risks that are not fully captured by the quantitative analysis and material market risk changes that occur from the last reporting period to the current are discussed in “—Trends and conditions” and “—Investment Portfolio” in “Item 7—Management’s Discussion and Analysis of Financial Condition and Results of Operations”.
At December 31, 2022, the effective duration of our investments available-for-sale was 3.6 years, which means that an instantaneous parallel shift (movement up or down) in the yield curve of 100 basis points would result in a change of 3.6% in fair value of our investments available-for-sale.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.