Interesting or sloppy?, page-10

Like everything else Rob Terry produced, the NIHL portfolio is of course high quality.
His wonderful whiplash portfolio a case in point.
Also his fine, loss-making PSD as a business.
His own Serious Fraud Investigation into misleading the market and related-party deals.

Portfolio NIHL inherited from Quindell is cold call and mass spam text generated very rapidly late in day of NIHL claims in UK, as opposed to walk-in-door aggrieved over years (latter which generates 20-25% in NIHL, after excluding all the early rejection of cases which everyone does). Only one motive in generating the Quindell NIHL portfolio: Terry trying to make a quick buck post the Jackson reforms. Problem with NIHL is it is much harder to prove, some evidence comes late in process, and much easier insurers to resist than whiplash.

So far $1m earned for $30m spent by SGH - including on mature cases overdue for settlement - not quite what was predicted by SGH management!! (Even less than the 10% rate I predicted.) And some misleading guidance about it along way, covering up how bad things were going until horror 29 Feb NIHL news.

But don't worry, it's coming good. "40-50%" - double industry average - is what Grech still says, so it must be true. UK insurers of course will be in rush to settle now to try to help SGH out with its very public cash flow problems.