Of course it won't be monetised upfront, doesn't matter if it...

Of course it won't be monetised upfront, doesn't matter if it will take 20 years since around 20c any asset FIG have is already completely written off (from a combined entity point of view). 92% of St Andrew's insurance portfolio is based on loans from B2B, let's assume the remaining 8% is life insurance and that's all written off, that's roughly similar to $5m discount to book that Freedom got anyway.

I got burned too many times where my thesis was correct but stuck in a value trap, I learned you can increase your odds faster enough if there's some kind of event on the horizon, I think for this stock it will be within next 4 months when post acquisition numbers come out. As I mentioned before, St Andrews won't be touched by RC because it doesn't deal directly with public (ASIC/RC is basically a political tool to make public think that they're doing them a service, the scam that AMP is pulling off have been going for a decade until it became so widespread that something HAS to be done, the "terrorism fund" the government set up aka Australian Reinsurance Pool Corporation (nice cover up name) has increased insurance cost for the public more than anything in the last 10 years, all your insurance receipts from PPL to MV has terrorism levy hidden in it, and there will never be a RC on it, gee I wonder why??). Anyway, if acquisition doesn't proceed then all my numbers are BS and I might as well consider my 21c investment in this stock worthless.