“Michael Gorzynski Now Controls a Long-Term Care Insurer”

“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. Moses, President, Center for Long-Term Care Reform:

LTCI turnover.