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Firstly, I would like to wish you a happy new year and lots of success in 2018. The purpose of this video today is to give you an overview of the trade credit insurance market in the GCC. What is the state of the market at the beginning of 2018? Let’s have a look first at what happened in the last 2 years. The last two years were challenging for the trade credit insurance industry in the region and clients faced many challenges when dealing with credit insurers. Indeed, the risk appetite of risk underwriters had been very low and most of them significantly reduced their risk exposure in 2016 and 2017. On top of that, credit insurers were very meticulous when assessing the validity of claims which led to an unusually high level of claim rejections. Now, after saying that, where do we stand today and in which direction is the market going? We believe that the difficult period is behind us because market sentiment is improving. First, generally the economy is in much better shape and most of the global economic engines from both east and west are performing well. Secondly, locally we have seen a recovery in the oil price which will obviously support the local economy and strategic reforms such as the introduction of VAT - implemented by the UAE and Saudi Arabia - will support the long-term prosperity of the region. All the planets seem to be aligned in the right direction and therefore credit insurers should support the growth of businesses in the region. In fact, we have already seen a change in the behavior of risk underwriters since the end of the last quarter of 2017. They are much keener to take risk and more flexible when looking at the claim’s element. In addition, the industry is becoming more mature, more experienced and more solutions are being offered to SMEs to credit insure their buyers’ risk. In conclusion, we are optimistic for 2018; corporates in the region will benefit from credit insurance to grow their businesses and they should have access to more financing from the banking industry by covering their risk with credit insurers. One more time, I wish you all the best for 2018 and look forward to seeing you soon.