meaning If-part in a sentence

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andrew495

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Hi.
Could you help me to understand the last sentence in the context, espessially the if-part. I am a bit confused because of a "if-part" not having a verb.
Here is a context:

Indeed, Berkshire is far more conservative in avoiding risk than most large insurers. For example, if the insurance industry should experience a $250 billion loss from some mega-catastrophe – a loss about triple anything it has ever experienced – Berkshire as a whole would likely record a large profit for the year. Our many streams of non-insurance earnings would see to that. Additionally, we would remain awash in cash and be eager to write business in an insurance market that might well be in disarray. Meanwhile, other major insurers and reinsurers would be swimming in red ink, if not facing insolvency.

I've bolded the last sentence I am asking about.

Whether it is an If-clause where verb is implied or it is a kind of addittional information used when you are adding that something may be even more, less, better, worse etc than you have just said?

Thanks in advance!
 
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GoesStation

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Other insurers and reinsurers would either be rapidly losing money or preparing to file for bankruptcy.
 

jutfrank

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if [they were] not facing insolvency, they would be swimming in red ink.
 

andrew495

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It seems as it is not a simply if-clause where condition causes result. Because being insolvent do not causes the being in red ink. Сonversely being in red ink usially ends with being insolvent.
Choice between bad situation and more bad situation is the best meaning I think.
Tricky sentence, tricky english! :-D
 
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emsr2d2

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It seems [STRIKE]as[/STRIKE] that it is not a simple if-clause where a condition causes a result. [STRIKE]Because[/STRIKE] Being insolvent does not [STRIKE]causes[/STRIKE] cause the being in red ink. Сonversely, being in red ink usually ends with being insolvent.
A/The choice between a bad situation and [STRIKE]a more bad[/STRIKE] worse situation is the best meaning, I think.
Tricky sentence, tricky English! :-D

Note my corrections above.
 
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