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  "documentTitle": "Deutsche Bank | Investment Banking Pitch Book | 38 slides",
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  "notes": "Includes regression equation and R-squared value. Pine projections are highlighted with specific discount scenarios.",
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      "text": "Scatter plot of P/TBV vs 2018E ROTE",
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      "text": "Note: Market data as of 2/2/2018. AIZ, PRA and MKL excluded from regression line. AIZ estimates N/A due to expected impact of The Warranty Group transaction. Source: FactSet, SNL Financial, Pine projections prepared by Pine Management and are pro-forma for sale of Tecmo; FY 2017 pending KPMG audit",
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