sorry duplicate post
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sorry duplicate post
Market maybe thinking the dividend is a goner
Hope the next couple of months weather is fine and dry
Chart looks pretty ominous. Clear break down below the 100 day moving average line and I am pretty sure that's a slightly lop sided head and shoulders pattern with left shoulder in late February in the late 70's and right shoulder in mid June, again in late 70's. Usually a potender for a steep decline off the right shoulder. Could we see a re-test of the mid 50's area ? Good share to short in my opinion. Glad I didn't fall for all the hype talk at the last Auckland sharetrader gettogether in April when it was in the mid 80's and lots of people were talking it up.
Attachment 12764
Very easy to make a claim without all the information, it is standard practice. Claim gets lodged as soon as any loss is expected. Adjustor is appointed, does their thing, bills get paid, repeat as time goes by, settlement comes down the line. Most claims are lodged very quickly in the day of online forms and integrated systems.
Flood claims are very rarely total loss claims.
Definition of 1/100 year events will probably change agree a bit on this front. But even outside of climate change there are years that are heavier than others. That doesn't always change the average over the very long term.
Even if this year is a bad one further events covered under per event section of reinsurance treaty -means bottom line NPAT isn't currently expected to be further changed from earlier announcement as full year impact accounted for already.
Speculate all you want about reinsurance costs but they will be quickly passed on as annual premium adjustments roll through on renewal.
I am happy to assist you shorting if you're interested :)
Technically we are now in a weekly downtrend, with the break of 71 confirming a weekly bear flag. Significant area of support in 68-70 region, so will be bullish if this holds given a bear flag break just prior (i.e. a breakdown without much follow through). If it breaks that will be significant technical damage.
Can we encourage the Board Squatters to buy a small pile again, so things dont look so bad
& to save the day ? ;)
Wonder if there will be another basically Adrift on the Seas small Insurer looking for a new owner, that can be added
between now & next deferred dividend, to try to resurrect a bit of mana & hope (in place of the dividend) ? ;)
After all, there seem to be quite a few who are happy at throwing more coin at a very deep bottomless well
(or Cap Raise AKA a special variation of a reverse dividend situation) .. before prayer & hope sessions .. ;)
I contacted Tower and got a bit more information on reinsurance. They advised the aggregate programme will cover the recent floods up to $7.5m. Should the event ultimately exceed $10m, Tower’s catastrophe programme cuts in. This is reflected in the diagram attached (from page 20 of our half-year results presentation). Attachment 12765