Beyond the Text is a Conning podcast that features insights from its Insurance Research Department. Hosted by Alyssa Gittleman, a Director and Head of Consulting and Customer Operations for Conning Insurance Research. Alyssa will invite analysts and guests to provide insights on recent publications and emerging industry trends. Beyond the Text is intended to provide just that: going beyond Conning’s typical research. Conning’s analysts have deep industry knowledge and come from various backgrounds providing a greater level of context on industry trends for insurance professionals. ©2024 Conning, Inc. This document and the software described within are copyrighted with all rights reserved. No part of this document may be distributed, reproduced, transcribed, trans-mitted, stored in an electronic retrieval system, or translated into any language in any form by any means without the prior written permission of CHL Group. CHL Group does not make any warranties, express or implied, in this document. In no event shall any CHL Group member be liable for damages of any kind arising out of the use of this document or the information con-tained within it. This document is not intended to be complete, and we do not guarantee its accuracy. Any opinion expressed in this document is subject to change at any time without notice. This document contains information that is confidential or proprietary to CHL Group. By accepting this document you agree that: (1) if there is any pre-existing contract containing disclosure and use restrictions between you or your company and any CHL Group member, you and your company will use the information in this document in reliance on and subject to the terms of any such pre-existing contract; or (2) if there is no contractual relationship between you and your company and any CHL Group member, you and your company agree to protect the informa-tion in this document and not to reproduce, disclose or use the information in any way, except as may be required by law. This document is for informational purposes only and should not be interpreted as an offer to sell, or a solicitation or recommendation of an offer to buy any security, product or service, or retain CHL Group for investment advisory services. The information in this document is not intended to be nor should it be used as investment advice. This podcast is published by Conning, Inc. (“Conning”) and represents the opinion of Conning. This publication is intended only to inform readers about general developments of interest and does not constitute investment advice or a solicitation, and may not be construed as such. While every effort has been made to ensure the accuracy of the information contained herein, Conning does not guarantee such accuracy and cannot be held liable for any errors in or any reliance upon this information. Conning does not guarantee that this publication is complete, nor does Conning assume any duty to provide updates to any analysis contained herein. Certain information contained herein is based on data obtained from third parties and, although believed to be reliable, has not been independently verified by anyone at or affiliated with Conning. This material may contain projections or other forward-looking statements regarding future events, targets or expectations. There is no assurance that such events or targets will be achieved, and may be significantly different than that shown here. Opinions and statements of financial market trends constitute our judgment and are subject to change without notice. Although the assumptions underlying the forward-looking statements that may be contained herein are believed to be reasonable, they can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Any timely data or views should be considered as of this date unless otherwise specified. Historic market trends are not reliable indicators of actual future market behavior. Past performance is not a guarantee of future results. For more information and a list of full disclosures please visit the disclaimers section at https://www.conning.com/important%20information. C: COD00000219