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  1. #1
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    Default TWR - Tower Insurance.

    Hey guys,

    What do you think of tower's current share price? It seems to me that they are a large, stable, insurance company with minimal debt that ought to be trading well upwards of $2/share. I can't see why their price has dropped so drastically over the last few months. There's been no real changes or affects to their business that I can see. So what would have driven this dive in their price? Ripe for picking? Your thought?

    Cheers,
    Noso

  2. #2
    Just a harmless teddy bear
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    nosolution ..... where does most of Towers earnings come from?

    Answer that question and than you can understand why TWR (and others) shareprice is being 'beaten to hell'

    Have a look back to what happened to the likes of TWR when the sharemarkets collapsed post 9/11 ... get the picture.

    Tower say they have learned from past experiences and their investments are safer now .... but you never know

  3. #3
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    risk a bit out of fashion right now perhaps

    GPG out a few months ago. sold their hundred million at NZ$4.81 from what I read
    http://www.nbr.co.nz/article/gpg-dum...er-stake-33824

    nice exit!
    For clarity, nothing I say is advice....

  4. #4
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    Quote Originally Posted by peat View Post
    risk a bit out of fashion right now perhaps

    GPG out a few months ago. sold their hundred million at NZ$4.81 from what I read
    http://www.nbr.co.nz/article/gpg-dum...er-stake-33824

    nice exit!
    That was Tower Australia. GPG still holding their stake in Tower New Zealand - TWR.

  5. #5
    Legend peat's Avatar
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    thanks for correcting me there macduffy.
    the numbers didnt seem to quite match!
    For clarity, nothing I say is advice....

  6. #6
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    Volume is up quite a bit since the 9th. Looks like there are a number of people who think it might be the bottom... It'll be interesting to see what happens over the next few days.

  7. #7
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    Chart looking fugly...will look at it again near the 1.10-1.20 mark...
    Disclaimer: Do not take my posts seriously. They are only opinions.

    AMR has sold all shares and is pursuing property.

  8. #8
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    So I'd just like to point out that tower went up 7.5% today.... I should have trusted my instincts. Haha, na 'cause if I had purchased, I'm sure it would have gone down. And we don't want to trade on instincts; we want to trade on sound decisions based on quality analysis, whether that be technical or fundamental.

  9. #9
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    try this

    regards
    Paper Tiger
    om mani peme hum

  10. #10
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    Thumbs down

    Quote Originally Posted by belgarion View Post
    Thanks PT.

    The NZX is very annoying - still nothing but the NZ Herald has a report and Direct Borking has an annoucement that can't be seen for another 13 minutes!

    Grrr ... Somebody needs to sort out their technologies !!!
    Just the NZX pushing their own barrow. Instead of a phone call to TWR telling them to present the results in a form that can be published directly instead of an attachment, they leave it as only accessable through their web site, for which you must register.
    Typical NZX arrogance.
    Last edited by biker; 21-11-2008 at 12:54 PM. Reason: grammer

  11. #11
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    Must say that the increased dividend of 8cps was a pleasant surprise. A couple of years ago I'd almost given up Tower as a bad job, made the old NZ Govt Life look almost sexy!
    So well done - a little light amid the gloom.


  12. #12
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    so has TWR paid its divie yet use ASB sec for my NZX trading which is crap compared to my ASX e*trade platform
    People don't have ideas, ideas have people

  13. #13
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    hi jb
    the divi isn't due til 9 feb 09, and i couldn't find any reference to a record date.
    the direct broking site doesn't have details either -- probably tower's fault.
    the fully imputed 8 cps is good though.
    i searched for the company's website... cheers.

  14. #14
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    Quote Originally Posted by scamper View Post
    hi jb
    the divi isn't due til 9 feb 09, and i couldn't find any reference to a record date.
    the direct broking site doesn't have details either -- probably tower's fault.
    the fully imputed 8 cps is good though.
    i searched for the company's website... cheers.
    Ex-Div Date Monday 26 January 2009

  15. #15
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    I heard through the grapevine that Tower has just signed a deal to provide underwriting/insurance to dedicated Kiwibank Wealth Advisors. Small start but could be a big deal.
    The banks do cream it off the insurance Co's
    Most insurance companies pay brokers 90-100% of annual premium for life products as a base and anywhere from 30- 160% override commission depending how much business the broker writes with them. The banks write the most business by far and are therefore on the very highest of override.
    This is all paid upfront first month or the broker can elect to have it paid as earned.
    This is of course all writebackable if the business falls over within certain time limits (usually starting at 100% writeback before 12 mths and decreasing by 10% every month thereafter)
    So in some cases a policy has to be in full force over 2 years before the insurance co makes any money off the Client. (notwithstanding what the ins co has done with the money to generate a return)

    I like Tower as a Company, they have a good market presence and they are very competitive in the 50-60 age group for insurance
    Last edited by outspoken; 07-02-2009 at 10:12 AM.

  16. #16
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    The relationship with ANZ National had with Tower was only for General Insurance (e.g. House, Contents, Car, Travel, etc) - and the commission received for selling those is two-tenths of bugger all. So I don't think there was any creaming of anything going on.
    If I am not for myself, then who will be for me? And if I am only for myself, what am I? And if not now, when?

  17. #17
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    Exclamation

    Quote Originally Posted by belgarion View Post
    TWR is being valued at a few cents below NTA again. Am I missing something?

    I would have though the court decision to allow TWR to seek renewal of policies from ANZ customers would been positive ... even if, as the GM points out above, it was 2/10 of bugger all
    Perhaps because ANZ also has approval to market to the client base to retain them. I would suspect the majority of customers would rather continue to retain their "ANZ insurance cover" rather than shift over to a Tower Product involving a possible change of policy and direct debit etc.

  18. #18
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    Am considering an investment , any objections at 1.30?

    From what i see the ANZ stuff well and truly priced in , gearing is low at around 17% and they have just completed a capital raising , so no debt worries till 2014.

    Profitable buisness at a good price , or am i missing something?

  19. #19
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    No objection from me. I have these and have bought more at 131/132

  20. #20
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    Charts look poor, but with nta =132.98, p/e 6.1, div 6.1, now seems ok for the brave...

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