Opinion: NatGen and Wells Fargo

National General may have seen Balboa as a bargain when it acquired
the lender-placed insurance business from QBE in late 2015.
After all, the New York insurer was topay just $90mn for operations QBE spent $700mn to acquire just
four years earlier, when the lucrative business was booking about
$1.3bn in annual premiums. But it appears that the bargain-basement
price should have sent up a red flag.
With the eruption last week of thelatest scandal involving Wells Fargo,...