Quantitative and Qualitative Disclosures About Market Risks
−Removed: We are exposed to market risks in the ordinary course of business, primarily related to interest rate sensitivities and foreign currency exchange risk.
+Added: Market risk is the risk of loss arising from adverse changes in market rates and prices, such as interest rates (inclusive of credit spreads) and other relevant market rate or price changes.
+Added: Market risk is directly influenced by the volatility and liquidity in the markets in which the related underlying assets are traded.
+Added: The following is a discussion of our primary market risk exposures and how those exposures are managed as of December 31, 2022.
+Added: Our market risk sensitive instruments are primarily entered into for purposes other than trading.
Interest Rate Risk
+Added: The primary market risks to our investment portfolio are interest rate risk and credit risk associated with investments in fixed maturity securities.
+Added: The objective of our investment activities is to maintain principal and the majority of our investments are short-term in nature.
+Added: For additional information regarding our investments, refer to Note 6, Investments, included in Item 8 of this report.
+Added: Additionally, we are exposed to interest rate risk as a result of our debt and our investment activities.
+Added: Our Credit Facility bears interest at a floating base rate plus an applicable margin.
+Added: As of December 31, 2022, our aggregate outstanding indebtedness was $69.5 million.
+Added: A 10% change in market interest rates would not be expected to have a material impact on our consolidated financial condition or results of operations.
+Added: For additional information regarding our debt, refer to Note 11, Debt, included in Item 8 of this report.
We may be exposed to interest rate risk as a result of our debt and our investment activities.
−Removed: We elected to terminate our line of credit facility in December 2020 and repaid all of the outstanding obligations.
The primary objective of our investment activities is to maintain principal and the majority of our investments are short-term in nature.
7 unchanged sentences
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.