Just looking through the financial report, it looks like they have $20B in assets and $12B in liabilities, I would assume the liabilities would grow over time with guaranteed inflation.
Analyst report said they had $500m in mark to market losses in the GFC, so even if you say the current losses are worse, they should still be well capitalized.
The funds management part of the business will take a beating, but that is only a small part of the business.
Keen to hear peoples thoughts?
Just looking through the financial report, it looks like they...
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