Constantine P. Iordanou - Chairman, Chief Executive Officer, President, Member of Executive Committee, Member of Finance & Investment Committee and President of Arch Capital Group (Us) Inc John C. R. Hele - Chief Financial Officer, Principal Accounting Officer, Executive Vice President and Treasurer Mark D. Lyons - Chairman of Arch Worldwide Insurance Group and Chief Executive Officer of Arch Worldwide Insurance Group Analysts Michael Zaremski - Crédit Suisse AG, Research Division Matthew G. Heimermann - JP Morgan Chase & Co, Research Division Joshua D. Shanker - Deutsche Bank AG, Research Division Jay A. Cohen - BofA Merrill Lynch, Research Division Meyer Shields - Stifel, Nicolaus & Co., Inc., Research Division Vinay Misquith - Evercore Partners Inc., Research Division Jay Gelb - Barclays Capital, Research Division PresentationOperator Good day, ladies and gentlemen, and welcome to the Second Quarter 2012 Arch Capital Group Earnings Conference Call. My name is Dave, and I'll be your operator for today. [Operator Instructions] As a reminder, this call is being recorded for replay purposes. Before the company gets started with its update, management wants to first remind everyone that certain statements in today's press release and discussed on this call may constitute forward-looking statements under the federal securities laws. These statements are based upon management's current assessments and assumptions and are subject to a number of risks and uncertainties. Consequently, actual results may differ materially from those expressed or implied.