does anyone know when the am best ratings is coming out & will the moa annual report have the full audited financials for the first time in yrs ?
10 replies (most recent on top)
@ex sev.er.ins legal bills are approaching $75K and depositions are next…..
tiaa got downgraded by Moodys
@1jq Y the down vote ? U think it is gonna be red baloons and lolipops ?
Is AM Best coming out with ratings soon ? Usually they are the first to publish. I say they are gonna rip us.
@sh what is the company trying to hide ? Are there boddies buried under the 34th floor ?
The company hasn’t published the full audited financials in YEARS. It was reduced to “highlights” and then reduced to nothing a few years ago. The AR used to be the signature marketing and identity piece of the firm and reflected the time tested and stable nature of the way we do business. Today, it still reflects the nature of the company, except it’s now flimsy, thoughtless garbage, barely together, and full of contradictions and lies. Nice going, marketing.
@ex sure hope so. company is playing hardball and drawing a big line in the sand. running up conwaze legal bills. Would not be surprised if sec steps in as S.ev was not properly licensed when they began acting as an investment advisor. could split their fledgeling bespoke company in 3.
sources are saying that am best will also cite company progress on expense controls and strengthening of balance sheet with the sale of its two properties. will cite continued implementation & execution risk & lack of coherent business strategy wavering w/sale of Truespire (Landmark). will cite lack of revenue growth to top & bottom lines & erosion & influence in non profit space.
@OP i've been told AM Best will be publishing ratings next week and Mutual will
Get no downgrades and a stable rating. However, the ratings agencies are extremely concerned about the long term viability of the firm as a going concern. They are going to cite the revolving door in the Csuite, huge operational problems, continued massive outflows, and time running out w/industry consolidation accelerating. Rich will have 1 more year to turn a profit and if he can't, he's gone.
will the annual report have an update on the Sev.erin/Gutterierz/Conjobway stuff ?