Ann: Suspension from Official Quotation, page-173

Hi MazC,
I understand your train of thought but I'm afraid that will be extremely difficult based on their previous announcements.
The BOD are now minimizing exposure to losses both historic and future.
I assume this relates mostly to old SGH UK rather than the focus on SGS as has been mostly assumed
here. That does not mean the BOD won't kitchen sink the next figures to get stability.

I believe NIHL was progressing well but if the banks call the tune they may choose to block settle at a discount. This should only be a dent and not a write off for the huge profits NIHL should realise otherwise the banks would be hurting themselves.

It might make good business sense to reduce staff costs if the majority of NIHL can be settled early.
I don't know anything, but if the scale of redundancies to be announced matches what I have heard, it far exceeds those processing NIHL. I can't explain the reason for this.

My own lawyers (unrelated) recently emailed all their clients to alert them to the proposed changes to general accident claims. I'm sure they are simply hoping to spur those dormant potential claimants into action but they seem to acknowledge that pi claims are going to suffer stricter rules going forward. SGH may be simply reacting to this.

atb
JS