Factors that could cause our actual results to differ materially from those in this report are any of the risks described in “Part I.
−Removed: Risk Factors” included in our Form 10-K for the fiscal year ended December 31, 2021, as filed with the "Securities and Exchange Commission ("SEC") on March 8, 2022 (the “Form 10-K”).
+Added: Risk Factors” included in our Form 10-K for the fiscal year ended December 31, 2021, as filed with the "Securities and Exchange Commission ("SEC") on March 8, 2022 (the “Form 10-K”) and in “Part II.
+Added: Risk Factors” included in our Form 10-Q for the three months ended March 31, 2022, as filed with the SEC on May 3, 2022 (the “Q2 Form 10-Q”).
Any of these factors could result in a significant or material adverse effect on our results of operations or financial condition.
Additional risk factors not presently known to us or that we currently deem immaterial may also impair our business or results of operations.
−Removed: As of March 31, 2022, other than as disclosed below, there have been no other material changes to the risk factors disclosed in “Part I.
−Removed: Risk Factors” included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 as filed with the SEC.
+Added: As of June 30, 2022, there have been no other material changes to the risk factors disclosed in “Part I.
+Added: Risk Factors” included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and in “Part II.
+Added: Risk Factors” included in our Q2 Form 10-Q.
We may disclose changes to such factors or disclose additional factors from time to time in our future filings with the SEC.
−Removed: Our results of operations and financial condition could be adversely affected by the ongoing conflict between Russia and Ukraine and related disruptions in the global economy.
−Removed: The military conflict between Russia and Ukraine has negatively impacted the global economy.
−Removed: While we have no operations in Russia or Ukraine, some of our operations may be adversely affected by this conflict and its effects.
−Removed: Our specialty business includes marine, energy, aviation, political violence, terrorism, and credit risk, which protects insureds with interests in foreign jurisdictions in the event that governmental action prevents them from exercising their contractual rights, and may also protect their assets against physical damage perils.
−Removed: The insurance provided may include cover for losses arising from expropriation, forced abandonment, license cancellation, trade embargo, contract frustration, non-payment, war on land or political violence (including terrorism, revolution, insurrection and civil unrest).
−Removed: In certain instances, we specifically reinsure risks resulting from acts of war or terrorism.
−Removed: Even in cases where we attempt to exclude losses from acts of war or terrorism and certain other similar risks from some coverages written by us, there can be no assurance that a court or arbitration panel will interpret policy language or otherwise issue a ruling favorable to us.
−Removed: Accordingly, we can offer no assurance that our reserves for losses and loss expenses in connection with acts of war or terrorism, including, but not limited to, events related to the Russian-Ukrainian conflict, will be adequate to cover losses should they materialize.
−Removed: Furthermore, governments in the U.S., United Kingdom, and European Union, among others, have each imposed export controls on certain products and financial and economic sanctions on certain industry sectors and parties in Russia.
−Removed: These export controls and sanctions, or our failure to comply with them, could restrict our ability to do business with counterparties in one or more of the jurisdictions or have other adverse effects.
−Removed: Our Form 10-K discusses such effects in Item 1A Risk Factors under "Non-compliance with laws, regulations, and taxation regarding transactions with international counterparties may adversely affect our business."
−Removed: Return to table of contents
−Removed: We cannot predict the impact the ongoing conflict will have on our business or the global economy.
−Removed: Escalation of this conflict could result in, among other things, heightened cybersecurity threats, supply disruptions, protracted or increased inflation, lower consumer demand, fluctuations in interest and foreign exchange rates, and increased volatility in financial markets.
−Removed: Any of these developments could adversely affect our businesses, results of operations, and financial condition.
−Removed: In addition, the ongoing conflict may trigger or intensify other risks described under "Part I.
−Removed: Risk Factors" included in our Form 10-K.
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.