Let us see what comes out the investigations in Bermuda into Mr Greenberg’s shareholding in a reinsurance company there. The results of this particular investigation have not been published yet.
I doubt Mr. Greenberg had any intention of retiring until his empire became the target of so many inquiries, lawsuits, etc. that has resulted in pretty significant fines already. I wonder what the final costs will be when “the other shoe drops”? Nice timing to exercise his “platinum parachute” and go clip coupons.
Strange how things seem to appear out of the blue when people start uncovering what many of us have known over the past years. There was a time when the insurance industry was this cloudy, strange group of company’s, whose dialog used terms that no one understood, but everyone including the so called analyst world provided their take on what everything meant.
We are going to see in the very near future, all of the “interesting” deals which have been struck over the past half decade. The smoothing deals, the hedge deals which were accounted as finite, yet no transparency existed, and certainly no risk was taken. All will be disclosed in due time, unfortunately, when they are, then all the experts will be outraged that this could have occurred, when they were looking at them straight in the face.
Unfortunately, the people who will suffer the most, are the professional folks in this industry, who for the most part provide their client base with sound, well educated advice.
In the end, it will all blow over, but not before some household names end up in places that they brought upon themselves.
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Let us see what comes out the investigations in Bermuda into Mr Greenberg’s shareholding in a reinsurance company there. The results of this particular investigation have not been published yet.
Isn’t Mr Greenberg 79? That doesn’t look to be a premature retirement to me!
I doubt Mr. Greenberg had any intention of retiring until his empire became the target of so many inquiries, lawsuits, etc. that has resulted in pretty significant fines already. I wonder what the final costs will be when “the other shoe drops”? Nice timing to exercise his “platinum parachute” and go clip coupons.
Strange how things seem to appear out of the blue when people start uncovering what many of us have known over the past years. There was a time when the insurance industry was this cloudy, strange group of company’s, whose dialog used terms that no one understood, but everyone including the so called analyst world provided their take on what everything meant.
We are going to see in the very near future, all of the “interesting” deals which have been struck over the past half decade. The smoothing deals, the hedge deals which were accounted as finite, yet no transparency existed, and certainly no risk was taken. All will be disclosed in due time, unfortunately, when they are, then all the experts will be outraged that this could have occurred, when they were looking at them straight in the face.
Unfortunately, the people who will suffer the most, are the professional folks in this industry, who for the most part provide their client base with sound, well educated advice.
In the end, it will all blow over, but not before some household names end up in places that they brought upon themselves.