TWR - Tower Insurance.

[Sideshow Bob]

Thanks for this info. Odd that I don't see any updates from TWR in the Direct Broking news for this year at all. Is it me or does everyone have that gap in info as well?

It is on the NZX page. https://www.nzx.com/companies/TWR/announcements

Not sure why Direct Broking wouldn't have it. Probably a question for them.

[ronaldson]

There are 33 NZX announcements issued by TWR so far this year. At least 4 relate directly to business updates, and many of the others are highly relevant to circumstances that could impact share price.

Source is Direct Broking site by clicking on TWR and then "News" in the drop down box.

[bull....]

I’m expecting that on 23 November Tower will announce a NPAT of $26m including large events (or $40m excluding large events) and a final dividend of 3.0 cps unimputed.

As extraordinarily items there will be an increase in Canterbury earthquake provisioning due to inflationary pressures and new claims and I’m also predicting $3m after tax in one off customer remediation costs to the incorrect calculation of multi policy discounts.

GWP will be up 13% to $457m and customer numbers will be up 4% to 317,000.

See http://nzx-prod-s7fsd7f98s.s3-websit...631/381273.pdf

cool
so after a bad yr as far as natural disasters go the underlying business is in good shape and rising interest rates and prudent cost control combined with premium increases to cover inflation should benefit twr bottom line going forward.

Also hopefully they will at some stage us some surplus funds for another buyback at some stage

[ronaldson]

Forrestdun - The difference between A$7.9m first announced as the sale price for the PNG subsidiary and the NZ$11.0m ultimately received is clearly not bridged by reference to intervening currency movements.

[850man]

There are 33 NZX announcements issued by TWR so far this year. At least 4 relate directly to business updates, and many of the others are highly relevant to circumstances that could impact share price.

Source is Direct Broking site by clicking on TWR and then "News" in the drop down box.

Weird, the most recent news dropdown I have is 2021, no 2022 for TWR. I have 2022 for all my others.

[Poet]

cool
so after a bad yr as far as natural disasters go the underlying business is in good shape and rising interest rates and prudent cost control combined with premium increases to cover inflation should benefit twr bottom line going forward.

Also hopefully they will at some stage us some surplus funds for another buyback at some stage

Yes indeed, after a bad year for large claims they are still sitting on an 8.5% gross dividend. Zero debt, surplus funds in the bank now earning reasonable interest rates - that alone could add $12m to net profit this coming year.
With a bit of luck they will give some forward profit guidance when they report on the 23rd, and I'd like to think that could be in the range of $35 to $40 m NPAT after allowing for a budgeted level of large claims

[bull....]

Yes indeed, after a bad year for large claims they are still sitting on an 8.5% gross dividend. Zero debt, surplus funds in the bank now earning reasonable interest rates - that alone could add $12m to net profit this coming year.
With a bit of luck they will give some forward profit guidance when they report on the 23rd, and I'd like to think that could be in the range of $35 to $40 m NPAT after allowing for a budgeted level of large claims

12m on premium's received would be nice , im picking a little less ( could go up if rates keep rising ) once all there current investments roll's off. i do note they state they are pretty conservative on what they invest in ie has to be top grade only mostly

[Poet]

12m on premium's received would be nice , im picking a little less ( could go up if rates keep rising ) once all there current investments roll's off. i do note they state they are pretty conservative on what they invest in ie has to be top grade only mostly

Well, with the last HY accounts showing they have $350m in cash/cash equivalents plus investments - the increase in interest rates should result in a hefty increase in investment income. I'm picking they should be able to get 5% at their level of risk tolerance

[ronaldson]

A lot of negative sentiment affecting diverse NZX stocks later in the day but pleasingly TWR has bucked the trend, albeit on small volume.

[ronaldson]

Time to get this thread back to being high on the list ready for tomorrow morning's FY results release. Closed at 69c today so momentum is positive.