PE around 10 seems fair enough for such a company
Quakes getting closer to big centers this week ...Levin not far away from Wellington hmmm
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Meet that NPAT guidance and there will be no reason for no dividend . The previous years they didn’t have a dividend the NPAT was negative year on year so not sure why It was a surprise
Job losses were inevitable after YOUI was merged in and customers migrated to the new self-serve platform. RBNZ strongly encouraging insurers to preserve capital so no chance of a dividend.
Amazing after many years of trying, they still haven't over provisioned for the Canterbury earthquakes, which still cost them $1.1m in 6 months.
Tower investors will have to wait another year (large claim events permitting) for our day or for the EQNZ recoveries claim.
Slightly better than my expectations below of $18m-$20m pretax, with a $22m pre tax and a $15m post tax profit. As per other posters a $30m full year post tax profit on the whole of company value of $269m is pretty good. Market hates it though. Contrary to all expectations no divi annoucement. I guess they are waiting to settle the EQC receivable before announcing a dividend and no guidance on when this might occur (now in the courts).
This share is killing me, good luck to all us holders
Even more lower north island quakes
If they continue with their current plan, workforce downsizing will have a positive effect on the cost line and benefit end of FY profit. Yeah there's always the possible impact of unexpected events but that's what insurance is all about, we know that already. Overall, what's not to like apart from no divvy just yet? You are right though Leemsip, the market doesn't like it. Have to bide our time a bit yet to prove them wrong.
Disc - hold a few
These arguments could come to NZ
Hope Tower don’t have too many such policies
https://www.smh.com.au/business/bank...05-p55000.html
It is usual for business interruption insurance to mirror material damage cover. Thus if you had fire cover for your building and contents this risk would also be covered in the business interruption cover.
I would expect pandemic cover in business interruption insurance to be the exception rather than the rule.
Boop boop de do
Marilyn