Introducing another well-capitalized mortgage insurer into a marketplace that is the size of Canada, the second-largest mortgage default market in the world, does not represent a disruption at all.
As a case in point, our current competitors, Genworth and CMHC, each have a market share of at least 30% and 70% respectively. Our market share objectives are very modest. We're going to have to fight, work hard, and be innovative to gain any traction against two well-established competitors.