Fort Dearborn Exiting the Business

[insurehound]

I feel better now knowing that there is a term for being screwed

 

[rjm63]

I feel better now knowing that there is a term for being screwed

Thanks for the chuckle.

 

[Freddie]

I have a contract with them...I will dig it out and see what it says....give me a few days.

I know back at the first of 2009 they stopped accepting new business for almost 5 months if memory serves .....said it was because they were swamped from the fall....which I always find hard to believe.

Now this....something is up.

I think back in 2009 they had a very very good product and everyone jumped on it. They stopped selling it because the demand is huge.

Also capital issues in 2009 for everyone - remember Aviva? Too much demand/too many aps.

Why are they pulling out now? They may be struggling with incredibly historically low bond yields. A bit like mutual funds with money markets. The yields are less then 1% and they need to make an expense ratio of 50 basis points aka 1/2%. It is hard.