Prudential Bites the Dust

[Mr_Ed]

Originally Posted by Never_a_dull_moment



Ridiculous comparison. This is a LTCi conversation not DI. Post this on the DI Forum.

it's a perfect comparison.
it's the exact same argument that these idiots are using to bad mouth LTCi.

So what if 95% of the LTCi market is owned by 10 companies. Does that means that LTCi is not viable?

95% of the DI market is owned by 6 companies. Does that means that no one should purchase d.i. and no one should sell d.i.?

I am illustrating the absurdity of their argument by being absurd about d.i.

 

[Arthur Rudnick]

I am illustrating the absurdity of their argument by being absurd about d.i.

Scott,
The conversation here is about the state of the LTCi industry.
You cannot deny the problems in our market by talking about the status of another product.

Are you denying that problems exist in the LTCi market? Because if you truly believe that everything is wonderful, there's something wrong in your analysis.

You've been in the business a long time, you're a lot smarter than that.

 

[Mr_Ed]

Scott,
The conversation here is about the state of the LTCi industry.
You cannot deny the problems in our market by talking about the status of another product.

Are you denying that problems exist in the LTCi market? Because if you truly believe that everything is wonderful, there's something wrong in your analysis.

You've been in the business a long time, you're a lot smarter than that.

Scott who?


Is it bad if 95% of the LTCi market is owned by 10 companies?


nadm

 

[Arthur Rudnick]

Is it bad if 95% of the LTCi market is owned by 10 companies?

Not necessarily, unless 1 company owns 60% of the business and that's the case in the LTCi market.

That's not a healthy situation in any business, regardless of the product.

Will you be saying the same thing if Hancock exits the business? At what point will you start to see the red flags, that everyone else on the planet sees?

"Scott Who?"

You know, that guy "Scott" who's website you send everyone to.

 

[Mr_Ed]

Not necessarily, unless 1 company owns 60% of the business and that's the case in the LTCi market.

That's not a healthy situation in any business, regardless of the product.

your 60% figure is off by about a factor of 3.

 

[Arthur Rudnick]

your 60% figure is off by about a factor of 3

And, what percentage of the total business will Genworth do in 2012?

 

[Mr_Ed]

And, what percentage of the total business will Genworth do in 2012?

you said market share, not sales.

big difference.

 

[bluemarlin08]

The future is going to be bleak for lots of people that need care. Either family will have to do the care and/or you spend down all your assets, for many it won't take long to happen, then good old Medicaid, how long will it survive? I think it is the biggest hole in one's financial planning. However, IMO, I wouldn't bet on Genworth staying in the game forever.

 

[Arthur Rudnick]

[FONT=Times New Roman","serif]

[FONT=Times New Roman","serif]you said market share, not sales.

[/FONT][/FONT]

[FONT=Times New Roman","serif]Here's what I said on 3 separate posts:[/FONT]

[FONT=Times New Roman","serif]1) "And, what percentage of the total business will Genworth do in 2012"?

[FONT=Times New Roman","serif]2) "Not necessarily, unless 1 company owns 60% of the business and that's the case in the LTCi market".[/FONT]

[FONT=Times New Roman","serif][FONT=Times New Roman","serif]3) "[/FONT][FONT=Times New Roman","serif]Genworth will own 60% of the business and it's certainly not a good thing when any one company, in any industry controls that much market share"[/FONT][/FONT]
[FONT=Times New Roman","serif]
[FONT=Times New Roman","serif]Either way, you're talking semantics. I'm no math major, but if the total $ of LTCi sales is $10.00 and Genworth does $5.00, using a calculater, an abacus and a computer, I come up with 50%. Are my numbers wrong?[/FONT]

[FONT=Times New Roman","serif]So once again, what percentage of the total LTC business will Genworth wind up with in 2012?[/FONT]




[/FONT]


[/FONT]

 

[Mr_Ed]

[FONT=Times New Roman","serif]Here's what I said on 3 separate posts:[/FONT]

[FONT=Times New Roman","serif]1) "And, what percentage of the total business will Genworth do in 2012"?[/FONT]

[FONT=Times New Roman","serif]2) "Not necessarily, unless 1 company owns 60% of the business and that's the case in the LTCi market".

[FONT=Times New Roman","serif][FONT=Times New Roman","serif]3) "[/FONT][FONT=Times New Roman","serif]Genworth will own 60% of the business and it's certainly not a good thing when any one company, in any industry controls that much market share"[/FONT][/FONT]

[FONT=Times New Roman","serif][FONT=Times New Roman","serif]Either way, you're talking semantics. I'm no math major, but if the total $ of LTCi sales is $10.00 and Genworth does $5.00, using a calculater, an abacus and a computer, I come up with 50%. Are my numbers wrong?[/FONT][/FONT]
[FONT=Times New Roman","serif]
[FONT=Times New Roman","serif]So once again, what percentage of the total LTC business will Genworth wind up with in 2012?[/FONT]



[/FONT]



[/FONT]

you said "market share".

market share means what percentage of LTCi policies are owned by that company.

this isn't semantics. this is English.

Genworth's market share is about 20%.

For individual policies this year they will probably sell about 45% of the new policies.

They will sell a negligible amount in the group ltci market.