Sayers: cashflow implications of reinsurance deal
The testimony of Andrew John Sayers continued on Thursday afternoon with prosecutor Andrew Baillie QC asking the partner at audit firm KPMG what would be the impact on the cashflow of the reinsurance deal signed by Independent Insurance, writes Olivier C Laurent .
According to Mr Sayers, in the short-term the deals would limit the cashflow at the company since the insurer would have to pay the premiums at the time they took the policy and only recover when the
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