In the case of The Co-operators, our structure as a cooperative—because it's at the holding company level—doesn't relate to the prudential regulations. So we're subject to the same prudential regulation as any other insurance company, on exactly the same basis, with no difference.
With respect to rating agencies, I'm sure you know how the process works. The rating agency comes in and meets with senior management, the CFO and that sort of thing. They go over the books and the financial statements of the company, and they get disclosure from management, including with respect to any investments they make. Federally regulated insurance companies are required to have a prudent investment policy, so we have to manage our funds as a prudent person would. That's all regulated and observed by OSFI. All of that is provided to the rating agencies, and then they go off and work their wonders, I suppose.
I think the issue of rating agencies and whether or not they should be regulated is a separate question.