Anyone know anything about the new CEO, Matt Cooper? Is there any reason to think he will be able to succeed in getting fair pricing from Suncorp where his predecessors failed so miserably? There will be another pricing re-set in June I think I remember reading.
To me it all comes down to that. Getting price increases like the North America players have done. The time of insurers treating panel beaters in Australia like indentured servants needs to end. AMA paid Suncorp $400 mil., and AMA deserves at least a normal rate of retuirn on the business they bought. They bought a partnership with Suncorp, a JV, not just a business that the seller no longer wanted to own.
The industry is still capcaity constrained, AMA fixes half of all of Suncorp's repairs, if Suncorp won't give AMA a fair retrun on that business AMA should just say, "ok, the deal is off, everythiing is now line by line, have a nice day." given the lack of capacity, wouldn't most of those cars come crawling back to AMA anyway? Even if 2/3 of the cars came back to them, implying they lose 33% of their Capital Smart business, the increased profitabiility on the remaining 2/3 should more than make up for it by my simple math. So less sales, more cash flow.
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