Q: Do you still expect the cost of the run-off business to impact Q4? If yes, any idea when that should become history?
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5i Research Answer:
TSU acknowledged that it may still experience 'one-time costs' associated from exiting its disputed reinsurance program over the next year, but that it believes it will ultimately benefit from savings related to reinsurance costs, and a further reduction of catastrophe-exposed business. We believe in the coming year, this write-down will be largely an issue of the past, and that future results can be more focused on the core operations of the company.