Jim, we’ve been talking about all the positives
and all the good things that are going on. That’s not always the case. There are some
bad things that happen. Can you elaborate on that?
Well, we’ve been fortunate with our reinsurance programs, in that they’ve all broken even
or made money. We’ve never had a reinsurance program in its entirety lose money, even though
we have had positions lose money. So nobody can say they’ve always been 100% profitable.
But we’re still here today after 25 years. I’m happy to say that. What I can tell you
is what reinsurance has been able to do to dealers, to help them get through the hard
times. There was an article in F&I Magazine about three years ago, back when the economy
was at its worst, and y’all interviewed a dealer who just happened to be one of our
clients. His statement was, if it weren’t for the reinsurance company, he wouldn’t be
in business today. He was able to utilize the assets that had accumulated and earned
in his reinsurance company to help pay the bills of his dealership, and I was proud of
that as anything we’ve ever done. So not only have we been able to make dealers money, we’ve
been able to generate assets they’re able to utilize to help them pay the bills, if
you will. And hopefully there’s money left over at the end of the day for them to have
a profit sharing program. And now we can expand that to the agents. We’ve been able to do
that with the agents, and they’ve been able to utilize the assets of the insurance companies.
So we’re happy about that.