Eric Andersen: Yes, I would say it depends where you are and it depends on the segment, it depends on the industry. I think we like to say there’s a million little markets out there depending on each individual client and the business they’re in and the type of exposures that are being covered. But then on macro basis, certainly, property, I think, continues to be the firmest as the primary carriers now deal with the effects of higher retained risk that they were traditionally passing on to reinsurers. But whether it’s the casualty lines, general liability, cyber, financial lines, D&O, professional that type of thing, we’re definitely seeing a stabilizing of that market. As more capital has come into those areas and clients are being given more choices in what they’re doing.
And I would also say that the insurers are 4 years into remediating their portfolios. And so they’re much more specific as to the areas that they choose to compete in and the kind of business that they want to write which does give clients sort of a more targeted choice of potential insurer partners.
Greg Case: Jimmy, in the context of this, if you step back and think about the implications for insurers, as Eric highlighted very well kind of on a product-by-product basis. As I talked, described in my comments and Christa amplified very well, this is really about a client leadership approach for us and fundamental demand is going up. The opportunity to talk to clients about risk out there in the world and how it’s connected, it’s going up. So irrespective of sort of the individual pricing environment which are prescribed well, the opportunity for us to engage clients and help them how to protect their business and grow is actually continuing to increase.
Jimmy Bhullar: Okay. And just lastly for Christa. On taxes, do you see anything in terms of like a minimum global tax or something that — based on what’s out there right now? And how — do you have any views on how it would impact your financials?
Christa Davies: Jimmy, we don’t comment on any future legislation. We run a global tax structure and we’ve had an underlying rate of 18% for the last 5 years and we feel really good about where we are.
Operator: Our next question comes from the line of Rob Cox with Goldman Sachs.
Rob Cox: And first, maybe just a longer-term question. I think in the past, you’ve talked about getting margins up into the 40% plus area. I know you don’t disclose margins by segment. But curious if you can give us some color on which of your businesses have some of the most opportunity there and if commercial risk could ever get to that level?
Greg Case: Rob, just take a step back for a second, as we’ve talked about, it really is about mid-single-digit or greater organic growth improving margins overtime and really driving double-digit free cash flow growth for the firm and all aspects contributed. And as you’re hearing in our commentary, more and more are connected. The solutions we are providing, some of the most innovative solutions we’re providing really are a function of how our commercial risk business, our reinsurance business, health, wealth and talent business has come together. And so we’re confident about continuing to drive margin improvement. As we described, organic revenue growth mid-single digit or greater and free cash flow growth double digit. That’s how we want you to think about it. That engine is really what’s coming together and we’re confident we can achieve that on our and our clients’ behalf.
Rob Cox: Okay, got it. And maybe just switching to the wealth segment. Obviously, strong growth in the quarter. I was wondering if that was more driven by the pension risk transfers or some of the regulatory changes we’re seeing, particularly in Europe. And if your outlook considers a continued tailwind from these areas?
