does anyone know if Imperial is still in business? other than trying to resell their defaulted policies and deals they purchsed at the height of the market, what are they actually doing? it looks like they settled a ot of their legal issues which is always helpful but the secondary life settlement market is dead and virtually non existent. while ITG does own many policies which were all pf and dfeaulted back to them, they have to be seriously under water in terms of market value. imho these policies are likley toxic and no credible buyer will put any real value on them, again IMHO. sure, they can continue funding the premiums and hope for maturities, but theyve probably have been doing this for the past two years with little luck/success. they had one early maturity for 10 million but literally no or very very few death claims have occured. i imagine the new principals are very smart folks. why did they see any value in this investment?? just curious.
did you see their earnings report from yesterday? big write downs on their portfolio. big losses on nearly every part of their business. it looks like they are nearly out of cash and have to raise it somewhere. they wrote down their life polies due to le adjustments, and thats only on the ones they were able to get new le's on. on many they couldnt so it looks like they just used the old ones and made a lot of assumptions.
can you say bad investment? IMHO