“Michael Gorzynski Now Controls a Long-Term Care Insurer,” by Allison Bell, ThinkAdvisor Quote: “HC2 Holdings — a conglomerate that owns a wide range of companies — has succeeded at selling a long-term care insurance (LTCI) business. The firm announced Wednesday that it sold the business, Continental Insurance Group Ltd., to MG Capital Management Ltd. for $65 million in cash and about $25 million in Continental Insurance assets. … LTCI issuers have a reputation for being difficult to sell. MG Capital’s acquisition of Continental Insurance, for cash, could break the ice and lead to other LTCI issuer deals.”   LTC Comment, Stephen A.
Read More

“Gen Xers, millennials have less saved for retirement than previous generations: survey,” by Kathleen Steele Gaivin, McKnight’s Senior Living Quote: “A national survey finds that members of Generation X (those born between 1965 and 1981) and millennials (born between 1981 and 1996) are more worried about retirement than the previous generations. Members of those two generations especially are concerned about their retirement security in the wake of the COVID-19 pandemic, according to the National Institute on Retirement Security. They were much more likely to spend down their ‘rainy day’ funds during the public health emergency, results show. … According to the
Read More