TWR - Tower Insurance.

[Rawz]

Those the ones he bought last year for high 70 cent range? Not a good trader (like the rest of us)

[nztx]

Interesting he seems to have an Sharesies account

Awful lot of trades listed eh

Some say not a good sign when CEO sells

Bills for the CEO's bash out at the holiday bach might be due anytime

Or did the whole office get flown out to a remote holiday destination somewhere in the Pacific for
the occasion ?

[ronaldson]

Interesting comment Rawz (#1681) - I looked back as far as 2021 - he bought 95644 in March '21 at 73.7cps, 90000 in May '21 at 76cps and 65000 in November '21 at 68cps. Of course, he "sold" 41444, being 10% of his then holding, into the compulsory buy back in 2022 at 72cps, and now 116,420 at marginally over 70cps cum dividend in late Dec '22. I guess as a top rate taxpayer a 4.0c unimputed dividend is only 2.44c net - he may have expected a price drop equivalent to the 4.0c when ex div in January, so beneficial to sell beforehand to avoid the tax circumstance.


Still, as an enthusiastic buyer in 2021 it would be good to think he had had a compelling private reason to sell or the optics aren't great.

[nztx]

Any exposure to recent & current extreme weather events onboard at TWR ?

Presumably further inflationary adjustments are being inflicted on all those 'covered'
but already reeling under other inflationary worries & costs spiralling upwards too

[nztx]

https://www.nzherald.co.nz/nz/weathe...A3W2JYBBSVY7I/


Weather: Cyclone Hale, first tropical cyclone of 2023, expected to hit North Island early this week

Surely not ?

When shall a trading update be expected to be Haled forth from the good folk sitting atop the lighthouse
while the fierce storms rage ?

[Antipodean]

Whats the question here? Were you surprised weather/climate still exists in 2023?

Generic storm response: Based on TWR's coverage % in NZ and the path of this cyclone - it is almost inevitable some Tower covered properties will likely be in the path.

Will it result in a trading update? Only if it is material.
Will it be material? Many factors (where applicable) go into this. # properties affected, how significantly they are affected, remediation abilities, excesses, reinsurance treaty recoveries & preventitive measures (local, civil & company).

Insurance companies expect and plan for storms, this isn't unusual.
Why is every media notification of a new storm a doom bell for TWR?

[Balance]

Whats the question here? Were you surprised weather/climate still exists in 2023?

Generic storm response: Based on TWR's coverage % in NZ and the path of this cyclone - it is almost inevitable some Tower covered properties will likely be in the path.

Will it result in a trading update? Only if it is material.
Will it be material? Many factors (where applicable) go into this. # properties affected, how significantly they are affected, remediation abilities, excesses, reinsurance treaty recoveries & preventitive measures (local, civil & company).

Insurance companies expect and plan for storms, this isn't unusual.
Why is every media notification of a new storm a doom bell for TWR?

https://www.stuff.co.nz/national/wea...t-to-top-400mm

Because TWR has tended to treat these events as abnormal and one offs?

I had TWR shares and bailed out after one abnormal storm too many!

[nztx]

https://www.nzherald.co.nz/nz/weathe...IJSZNQDQDSBPA/

In Gisborne, conditions were being described as worse than Cyclone Bola.



Further north, Auckland’s northern region and Northland have been hit by nearly a month’s worth of rain in the past 24 hours as the ex-cyclone strikes, MetService says.

sounds pretty abnormal ..

[850man]

Abnormal 6 years ago but more the norm these days. TWR have adjusted premiums to take into account increased risk as well as increases in building costs

[Poet]

https://www.stuff.co.nz/national/wea...t-to-top-400mm

Because TWR has tended to treat these events as abnormal and one offs?

I had TWR shares and bailed out after one abnormal storm too many!

I don't think they consider these events abnormal, in fact they have explicitly budgeted for four of them this year, each with a $10m excess before re-insurance kicks in.

Admittedly, the ChCh earthquakes were an abnormal event due to scale and cost. These weather events aren't, they are just business as usual.

I wouldn't even think this latest storm will make it to the level of one of this year's budgeted large events as it doesn't sound as if any residential property has been damaged.