https://www.wsj.com/articles/volkswagen-in-advanced-talks-over-porsche-ipo-11645525495
You mean like mortgage backed securities before 2008?
Is this similar to derivatives or collateral debt obligations?
The key difference is that insurance is highly regulated and insurers are required to be well capitalized.
That coupled with diffused risk is a good thing (in very simplistic terms, the financial crisis was a failure to diffuse risk. Too few institutions were holding too many risky assets and/or guaranteeing against losses).
Otherwise every big oil spill and major hurricane would lead to bankruptcies of sole insurers lacking any reinsurance protection, 100s of thousands of unpaid home/auto claims for consumers, and thousands of unemployed employees.
Plus market turmoil from fire sales of these insurersâ investable assets.
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Estimates for this are now as high as $400M, but there is one more complication
https://www.caranddriver.com/news/a39188600/lamborghinis-bugattis-felicity-ace-cargo-ship/
Initial reports said that around 1100 Porsche vehicles, 189 Bentley vehicles, and approximately 100 Volkswagen Golf R, GTI, Arteon, and ID.4 vehicles were on the ship. Now we learn that Lamborghinis are also part of the picture. Automotive News reports that dozens of Lamborghinis, mostly Urus SUVs as well as Aventador and HuracĂĄn models, are on the ship.
Lambo looking at possibly restarting Aventador production to (re)build those final units.
They will. Porsche lost some gt2rs cars off France in â19, and they had to restart production. There is definitely precedent, and consumers will be very pissed if they donât get their final edition Aventadors, or Huracan STOs, etc.
As long as they can get the partsâŚ
my local Porsche dealer said about 50 of their cars were on the ship. not sure if that was a fib or not, but if so, that sucks for them.
And the saga continuesâŚ
https://www.yahoo.com/autos/felicity-ace-sinks-along-porsche-145400189.html
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At least the fire is out now
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Better this way to cover up the cause of the fire
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Bye, Felicity!
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RIP Land Rover Santana and Prelude.
The list of cars that sank just came out 
TLDR
| Brand | # |
|---|---|
| Audi A5 Convertible | 84 |
| Audi A5 Coupe | 43 |
| Audi A5 Sportback | 147 |
| Audi e-tron | 121 |
| Audi etron GT | 1 |
| Audi Q2 | 1 |
| Audi Q3 | 297 |
| Audi Q3 Sportback | 144 |
| Audi TT | 7 |
| Audi TT Roadster | 1 |
| Bentley Bentayga | 77 |
| Bentley Continental GT | 38 |
| Bentley Continental GT | 50 |
| Bentley Flying Spur | 25 |
| BMW 750i (2007) | 1 |
| Fendt tractors | 12 |
| Ford Mustang (2015) | 1 |
| Honda Prelude (1996) | 1 |
| Kia Soul (2014) | 1 |
| Lamborghini Aventador | 15 |
| Lamborghini Huracana | 20 |
| Lamborghini Urus | 50 |
| Land Rover Santana (1977) | 1 |
| MAN TGM (truck) | 1 |
| Mini Country Man (2019) | 1 |
| Nissan Versa Note (2018) | 1 |
| Porsche 718 Boxster GTS 4.0 | 1 |
| Porsche Cayenne (2015) | 1 |
| Porsche Cayenne, Macan, Panamera | 30 |
| Porsche Other - Taycan, 911, etc. | 558 |
| Seat Ateca | 3 |
| Volkswagen Caddy | 47 |
| Volkswagen Golf | 199 |
| Volkswagen ID.4 | 159 |
| Volkswagen Jetta (2017) | 1 |
| Volkswagen Taigo | 1 |
| Volkswagen Transporter T6 | 116 |
Probably servicemember cars for the random/older ones.
65th prelude ever produced for a collector. feelsbad
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Thatâs a lot of banayahoos
I think they lost some value on the way to the bottom of the ocean 
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#whoops another cargo ship en fuego
https://www.autoblog.com/2023/07/26/fremantle-highway-cargo-ship-fire-3000-cars/
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Another article said EV on board might have been to blameâŚ
Like the last couple, they wonât know until they investigate whatever remains, after the fire is out.