The Perils of Moonlighting: Demutualisation Edition

Sometimes I moonlight as a researcher for clients when their research projects and mine coincide.  So from time to time, a gun for hire but not a mercenary.  I don’t know if it compromises my objectivity because my subjectivities were formed before my objectivities.  That is my output reflects my instincts which change when updated by facts that don’t confirm to my instincts.  I don’t say I am doing gods work.  I have never pretended to know the mind of god.

One the occupational bizarreties is that sometimes you find yourself being quoted in a national newspaper and the attribution is given to your client which normally is not disturbing.  It only becomes disturbing when you are quoted and the journalist’s headline is so at odds to the journalist’s own analysis and the material he quotes that you wrote.

I am not going to be more specific than that because client confidentiality precludes it.  But I will say that a lottery is where all the participants pay their money and take an equal chance. What is being contemplated by the DoFinance  is the enabling of control fraud.  This is not a game of chance it is a game of political rent seeking and any other gloss on the issue is an attempted obfuscation of that fact.

And no it was not me that wrote that demutualisation was akin to “legalized robbery of past generations.”  I wish my client would have tolerated such language.

Update:

The mutuals are better capitalized than the industry average. Their public cohorts are under capitalized. Your analysis is thus wrong. These are facts not opinions. Moreover, your argument that:
If it allows payers like Economical to hand over ownership to a tiny group made up partly of company insiders, the demutualization would likely be seen by the public as unfair. If on the other hand the government takes a stronger role and forces companies to distribute their surpluses more widely to all policy holders, it runs the risk of being tarred as too interfering.”
Is, with all due respect, unmitigated bullshit. If the government does not want to be seen as interfering it can write the legislation to prevent your first proposition thus saying no to control fraud. Make all policy holders benefactors and see how many want to convert. That is the acid test of intentions.

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