Some gems in the last report. "MIC estimates its risk to capital ratio was 22 to 1 and excess minimum policyholder position was $64 million at December 31, 2009." Add in analyst average estimates of $270 million for 2010, and risk to capital ratio goes to 35-1 !! No more business will be written and they will have to switch to the new subsidiary which barely has any money. They said like $29 million.
"Our expectation that, as a result of continued losses, we will need to raise significant additional capital and/or achieve significant statutory capital relief in 2010"