ICBC Financial Troubles
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.
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.