More Reserving Issues At KFS

[Parsad]

More reserving issues at KFS, as well as other expenses.  Cheers!

 

http://finance.yahoo.com/news/KINGSWAY-ANNOUNCES-cnw-1533903973.html?x=0&.v=1

[beerbaron]

Such a crappy insurer! Poor investors that invested at 20$.

 

Were they able to give their company to charity in the end or did the court stop them?

 

BeerBaron

[StubbleJumper]

Such a crappy insurer! Poor investors that invested at 20$.

 

Were they able to give their company to charity in the end or did the court stop them?

 

BeerBaron

 

 

As I recall, the court stopped them. 

 

This thing is a pig.  Shoot it now, bury it, and the insurance industry can simply move on.

[Partner24]

I remember when I was working at a stockbroker firm (in 2005). The analysts used to recommend KFS. Everybody can do mistakes, but I've let that one pass!

 

[PlanMaestro]

They were authorized but only by the letter of the law but with strong recriminating language leaving the open the door for other actions. There are two things I do not understand:

 

1. Why they keep underwriting at a loss in a short tail business?

2. Why they have not been more aggressive in buying back their debt at a discount with their large cash horde?

[Uccmal]

I remember when I was working at a stockbroker firm (in 2005). The analysts used to recommend KFS. Everybody can do mistakes, but I've let that one pass!

 

 

Yes, I distinctly remember Ross Healy recommending this stock when it was in the low 20s.  I held it until after their first real bad quarter and managed to get out with a slight profit.  Lucky me - those quarters kept coming and coming.