Catastrophe Claims Volatility Risk: Unexpected frequency or severity of natural or man-made disasters could lead to higher-than-anticipated claims and significant financial losses.

Investment Performance Risk: Adverse movements in financial markets, including interest rates, equity prices, and credit spreads, could negatively impact the company's investment portfolio returns and capital.

Underwriting and Pricing Inaccuracy Risk: The inability to accurately assess, price, and underwrite risks, or errors in actuarial models, could result in unfavorable loss ratios and reduced profitability.