Para scratched his head and wondered, How could one of the worlds largest insurance companies plummet from being the gold standard in the industry to one struggling for survival? At the end of 2007, Protection Insurance had $100 billion in annual revenues, 65 million customers, and 96,000 employees in 130 countries. One year later and staggered by losses stemming from the credit crisis, Protection Insurance teetered on the brink of failure and was in need of emergency government assistance. Protection Insurance had been a victim of the meltdown in the credit markets. The collapse of this respected financial institution sent shock waves throughout the worlds economy.
