In this workout we've been asked to calculate the growth rate in gross written premium and also the components of operating results for Generali's life insurance business in 2018. Now, we've been given extracts from their financial statements to help us do this and you can see on the left-hand side we have the information on their gross written premiums, and that's for both their life business and also their property and casualty business. So you can see that the gross written premium for the life business, were 46 billion in 2018 and just under 44 billion in 2017. Now, on the right-hand side we have the operating result for Generali, and you can see that that's just over 3 billion in 2018 and just under 3 billion in 2017. Now we also have the components of the operating result, so that's broken down into the technical margin, the investment result, and also the expenses. So the technical margin is the gray block at the top. The investment result is the red block in the middle and the expenses are the white block at the bottom. So let's have a go at calculating the growth rate for the premiums and also the components of the operating result. Now helpfully, all the information from the financial statements above has been popped into this table here. So you can see we've got the gross written premiums and all the components of the operating result. Now the first thing we're gonna need to do is to calculate that operating result and that's just by summing the technical margin, the investment result, and our expenses. So we do that for both 2017 and 2018. Now, to calculate our growth rates, we start off with the gross written premium, and we take the 2018 premium, the 46 billion divided by the 2017 premiums of 43.8 billion and then we just take away one. So that gives us a growth rate of 5.1% for the gross written premiums in 2018. So a nice healthy growth rate there for the company. Now we can take that formula and we can simply paste it below to give the growth rate for all the components of the operating result. And you can see at the top we've got the technical margin growth rate of 7.2%. So that's a really good growth rate and clearly some of that is going to be fueled by the fact there's a really good growth rate in the gross written premiums. Now, the performance of the investment result's not quite so good. You can see that's fallen by 12.5% between 2017 and 2018. So clearly some of that would've been to do with maybe the market conditions in that year. Now, in terms of the expenses, those have stayed broadly stable, they've grown by just under 1% between 2017 and 2018. And that's pretty good, considering what happened in terms of gross written premiums and also the technical margin. Now, the net result of all of that is actually the operating result of the business has grown by just under 3% in 2018, and that's because the technical margin had such healthy growth rate and that's the largest component of the operating result.