How is this company worth $12B? Is it hard to short? The $12B equity valuation would imply slim odds of Max-Hervé George being fully paid out.
If not, what information are we missing?
If not, what information are we missing?
For Max-Hervé and his banks there is actually some rather significant risk. Their insurer could collapse due to some other cause, and policies might not be paid out. By keeping the policy and not settling, their taking out a position on Aviva's continued survival for 50 years.