FIG freedom insurance group ltd

how low can this go?, page-268

  1. 524 Posts.
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    I just went through AR and realised all their provisions are clawback provisions which are based on the TC, this would reduce liability even more:

    $18m (cash) + $2.2m (receivable) + $2.9m (Spectrum) + $49.3m (TC) - $24.9m (total liability) = $47.5m

    Set aside $15m for one-off restructuring expense and fines, that becomes:

    $3m (cash) + $2.2m (receivable) + $2.9m (Spectrum) + $49.3m (TC) - $24.9m (total liability) = $32.5m

    Not that this means anything obviously. Sometimes I think I better go back to being an accountant, the numbers at least make sense to somebody.
 
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