Demutualized insurance companies are stock companies now, so the comparison between the stock companies and the mutuals is that at the end of the day these mutual insurance companies do not wish to make a profit over the long term. Over the short term, sure enough, we want that business to remain, and they pay taxes on the profits they make.
As to whether or not they would set up offshore companies in order to avoid paying taxes, they just don't do so. Other companies that we believe are doing it--and this is not only insurance companies but also the banks and other financial institutions--find an advantage in setting up offshore companies. Indeed, the study out of Statistics Canada came to the conclusion that there was an increase in those offshore companies and that the financial services sector was one of the prime areas responsible for that increase.