−Removed: and Qualitative Disclosures About Market Risk.
−Removed: Following the consummation of our Initial Public Offering, the net proceeds of our
−Removed: Initial Public Offering, including amounts in the Trust Account, have been invested in U.S.
−Removed: government treasury bills, notes or bonds with a maturity of 180 days or less or in certain money market funds that invest solely in U.S.
−Removed: the short-term nature of these investments, we believe there will be no associated material exposure to interest rate risk.
−Removed: Index to Financial Statements
+Added: Quantitative and Qualitative Disclosures About Market Risk.
+Added: Market risk is the risk of economic losses due to adverse changes in the estimated fair value of a financial instrument as the result of changes in equity prices, interest rates, foreign currency exchange rates and commodity prices.
+Added: Our consolidated balance sheets include assets and liabilities with estimated fair values that are subject to market risk.
+Added: Our primary market risk has been interest rate risk associated with investments in instruments with fixed maturities.
+Added: We do not have material exposure to commodity risk.
+Added: We are also exposed to credit risk on our investment portfolio.
+Added: We manage the exposure to credit risk in our portfolio by investing in high quality securities and diversifying our holdings.
+Added: We monitor our investment portfolio to ensure that credit risk does not exceed prudent levels.
+Added: Our investment policy is focused on preservation of capital, liquidity and earning a modest yield.
+Added: Substantially all of our investment portfolio is invested in U.S.
+Added: Treasury fixed maturity securities.
+Added: As of December 31, 2021, none of our fixed maturity securities portfolio was unrated or rated below investment grade.
+Added: Inflation Risk
+Added: Inflationary factors such as increases in overhead costs may adversely affect our results of operations.
+Added: Although we do not believe that inflation has had a material impact on our financial position or results of operations to date, a high rate of inflation in the future may have an adverse effect on our ability to maintain current levels of operating expenses as a percentage of total revenues, if the premiums earned or other payments we receive from CMS do not increase with these increased costs.
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.