Why are they doing this?

Good question. They entered the public casualty space about six years ago. They've been very aggressive, at least for them. Everyone in the space that I used to talk to, including the brokers, honestly, we all felt it was coming. You know, the tail is coming. But they play in the lead layer. They initially put up a limit of 10 million directly above the pool retention and took the whole 10 million. Now, they've cut back to five million. They write a ton of business in California. We would know what the expiring premium was. Although I wasn't quoting that layer, we'd see what they quoted it at in a market where you should be getting rate increases, and you'd say to yourself, what are they doing?