Underwriting   Markets We hold a very strong position in our home market, i.e. the Benelux and in Southern Europe. About 25% of our adjusted gross premium income 2007 was generated by Benelux clients; Southern Europe represents 60 %. The increased importance of the Southern European portfolio is mainly due to the growth in France and Portugal. The Italian portfolio has seen a decline owing to changed reinsurance conditions. We underwrite reinsurance business mainly in Belgium, Luxembourg, The Netherlands, Italy, Portugal, Spain, France, United Kingdom, Ireland, Germany, Austria and Greece.     Adjusted gross premium: The gross premium includes reinsurance premiums from the companies within the KBC group. On the authority of the cedents concerned, Secura retrocedes these premiums to reinsurers as indicated by them.