3 ms·
The company I worked for a few years ago (I'm not going to disclose who as I'll get shot) were an EU based insurance org and had a US subsidiary that they used
by allegory 12y ago
The company I worked for a few years ago (I'm not going to disclose who as I'll get shot) were an EU based insurance org and had a US subsidiary that they used for selling overseas. They had a 5 man legal team to keep the US govt off their backs. In the end they said "fuck it" and closed US operations down one afternoon with no noticed, cancelled everyone's policies and fired everyone (gave them 4 months pay at the same time).
Everyone was told why including the investors.
Not a major company (<$50M capital) but it stirred the pot big time in a particular sector of the insurance industry and pissed off a number of large investors in the US.