Yes indeed the first few pages of this thread quite illuminating
Halebop is a guru (I think he was an actuary in a past life)....expressed his concerns about concentration of risk
Grunter wasn’t keen on the long tail liabilities and suggested it would probably catch up with them eventually
Marilyn bought up what history has done to small insurers in NZ
T_j was put off by the ‘questionable’ past of some of the Directors
The Stuff article linked above has 3 cases against CBL. One was about CBL refusal to pay out on a bond re redundancy payments. Another guy is claiming millions re CBL selling unlawful policies in the Us and claimed ‘alleged deceit, breach of fiduciary duty and negligence.’. The third involved a former business partner claiming he only got half of what his shares were worth when Harris et all bought them off him.
But that didn’t stop the IPO being a great exciting success and punters including several Sharetrader veterans were seduced by the growth story and the rising share price and piled into CBL
That’s all history now ....but maybe there is a lesson in all this somewhere.