Strike 1- $120 million write off loss. The force placed insurance business was an unmitigated disaster. At least after 2015, we can move on.
The crop business is still a concern. Mngt may have to write off some additional goodwill there as the business has made lossess the last 3 years and this year is not looking much better.
As I said yesterday, 2015 will still require re-structuring to Loss making businesses.
I'm expecting a 3-4% drop today.
Ann: QBE Insurance Group Limited - Sale of M&LS Business, page-5
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