ICBC Financial Troubles

Posted on February 2, 2018 by

ICBC is not broke.  According to the Globe and Mail.

In a written statement, ICBC spokesman Adam Grossman said the insurer still has claims reserves of $11.7-billion, but that ICBC is losing money at an unsustainable pace.

Globe and Mail

Than why is the government asking to increase the insurance premiums of every driver by $400 and blame everyone else but bad management.  If this was a publicly traded company, the CEO would be fired already along with senior management.