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  "notes": "The slide explains the methodology for normalizing insurance metrics between two different corporate structures.",
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      "text": "The Customer pays the same total amount in both structures; For KIN, Surplus Contribution is not counted in typical insurance metrics; We use Earned Surplus Contribution to calculate comparable Adjusted Loss & Combined ratios; Without this adjustment, true carrier performance is misstated by 10%",
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      "text": "1. Earned Surplus Contribution is a Non-GAAP measure representing the prorated customer Surplus contribution across the policy term.",
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