You know the market is down in the dumps when might TWR briefly dropped below 80cents
It is proving to be not so "brief" is it Rawz, and the half year results announcement is just 2 weeks away now.
I looked again at the quite remarkable April guidance update given and the suggestion that NPAT is forecast to exceed $35m assuming all the $45m large events allowance is utilised. I think it is likely still that none has been expended to date, and it is worth appreciating that means NPAT is rising by almost $1m per week in that circumstance. In addition it seems to me that GWP is growing faster than thought despite the economic circumstances, and that structural changes such as divesting PNG, the Solomons and Vanuatu and expanding the Suva business hub are positive. The only negative is the ongoing remediation for the policy discount fiasco and the related FMA action but the former must be nearly concluded now which in turn will release staffing resources to more productive activities.
So I expect any accompanying commentary on that occasion to lead to further upside share price surprise and agree the market is unduly pessimistic currently. But I agree that an extreme adverse catastrophe event is a potential black swan risk not all listed entities face to the same degree of possibility/probability, and perhaps that always needs to be factored in as a holder to mute excessive optimism!
I had a weird experience with Tower yesterday. Tower through trademe sent me a renewal notice for landlord house insurance. THey increased the premium by 50% over the previous year. much of the increase was driven by the amount insured. They seem to no longer allow you to insure your house for its market value. The market value is around 1/3 of the replacement value in my case. Anyway I phoned customer service and had a woman representative who kept fading out. Each time I said "I cant hear you" she turned the volume up. On the fifth time she faded out I hung up and redialled. I could hear the second rep and after about 5 minutes she said she would call me back after talking to a risk assessor. She never did call back. Good news (for tower shareholders) is I eventually rebought the insurance. Bad news is that either their or tradme's reps offer a pretty poor customer service experience.
I had a weird experience with Tower yesterday. Tower through trademe sent me a renewal notice for landlord house insurance. THey increased the premium by 50% over the previous year. much of the increase was driven by the amount insured. They seem to no longer allow you to insure your house for its market value. The market value is around 1/3 of the replacement value in my case. Anyway I phoned customer service and had a woman representative who kept fading out. Each time I said "I cant hear you" she turned the volume up. On the fifth time she faded out I hung up and redialled. I could hear the second rep and after about 5 minutes she said she would call me back after talking to a risk assessor. She never did call back. Good news (for tower shareholders) is I eventually rebought the insurance. Bad news is that either their or tradme's reps offer a pretty poor customer service experience.
I also have a similar experience with Tower via trademe insurance ...I had two cars plus my house covered comprehensively ...got shocked to get renewal notice for my Porsche to double as tower decided to shun European cars insurance thus they became super uncompetitive overnight in spite of multi policy discount ...to my surprise I cud get single car covered at my old premium via AA Insurance which have better customer service ...but still my house plus mx-5 is with them via trademe as they are still competitive for them . My claims experience with Tower is also not very positive ...they tried every trick in the trade to deny my claim ...even spent $ 5000 on FULL investigation of 3 months to finally pay in full . I will call tower 1/5 customer service level .
I also have a similar experience with Tower via trademe insurance ...I had two cars plus my house covered comprehensively ...got shocked to get renewal notice for my Porsche to double as tower decided to shun European cars insurance thus they became super uncompetitive overnight in spite of multi policy discount ...to my surprise I cud get single car covered at my old premium via AA Insurance which have better customer service ...but still my house plus mx-5 is with them via trademe as they are still competitive for them . My claims experience with Tower is also not very positive ...they tried every trick in the trade to deny my claim ...even spent $ 5000 on FULL investigation of 3 months to finally pay in full . I will call tower 1/5 customer service level .
Why not self insure? Get third party if you must but for the rest, the known limits just insure yourself. Crazy to give the premium away.
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Originally Posted by Rawz
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