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  1. #511
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    Quote Originally Posted by BIRMANBOY View Post
    True that's why there's all that re-insurance going on..to ameliorate the risks. They never completely die however just get absorbed into "luckier" better financed entities. However yes not that's going to help an investor much if it happens. Still relatively infrequent though.
    In Standard's case the company not only completely died but its unlucky - or unwise - shareholders had to cough up another 10shillings per share uncalled capital. Watching that happen put me off partly-paid shares completely!

  2. #512
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    Unhappy Flow my Tears the Tiger said

    Quote Originally Posted by BIRMANBOY View Post
    Sort of glad I didn't buy any of these in March when I was contemplating it. Problem for me is the dividends are always unimputed which kind of puts me off. However they are maintaining y/e 15 dividend payouts which at current SP is 10 plus % before tax. Moderately interested again will keep an eye on SP movement. You don't see many insurance Co's going bust.
    Sort of unhappy that I did buy some of these in March

    There is not a lot of cheer anywhere in the announcement today.

    AND that is without assuming that the IT systems that the say is now deemed a load of rubbish (they used different phraseology) includes the one built for them back in 2000 and which I was involved in.

    Best Wishes
    Paper Tiger
    om mani peme hum

  3. #513
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    So 641 Christchurch claims remain outstanding - 5 years on

    Not entirely TWR fault the delays (some over cap ones been shunted on to them) but an indictment on the whole industry. Shame on them all.

    Almost criminal but then again its probably a case where the longer it takes the better off shareholders are.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

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  5. #515
    Speedy Az winner69's Avatar
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    Some interesting comment about what CHch really cost Tower in the last half ....with the suggestion more carnage to come (something to affectvall insurers)

    http://www.interest.co.nz/opinion/81...epair-marathon

    The CEO on thecradi this morning didn't sound too convincing about the future. He used the phrase 'continue to' do this and that ....but stopped short of saying continuing to disappoint.

    The guy from Macquaries said any chance of a takeover was pretty slim.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  6. #516
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    Quote Originally Posted by winner69 View Post
    Some interesting comment about what CHch really cost Tower in the last half ....with the suggestion more carnage to come (something to affectvall insurers)

    http://www.interest.co.nz/opinion/81...epair-marathon

    The CEO on thecradi this morning didn't sound too convincing about the future. He used the phrase 'continue to' do this and that ....but stopped short of saying continuing to disappoint.

    The guy from Macquaries said any chance of a takeover was pretty slim.
    I hope HBL doesn't get excited about adding TWR into its portfolio.

  7. #517
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    Red face There is always a next time

    Quote Originally Posted by winner69 View Post
    Some interesting comment about what CHch really cost Tower in the last half ....with the suggestion more carnage to come (something to affectvall insurers)

    http://www.interest.co.nz/opinion/81...epair-marathon

    The CEO on thecradi this morning didn't sound too convincing about the future. He used the phrase 'continue to' do this and that ....but stopped short of saying continuing to disappoint.

    The guy from Macquaries said any chance of a takeover was pretty slim.
    Cameron seems to have an axe or two that he is grinding, obviously poked himself in the eye whilst doing so.

    Best Wishes
    Paper Tiger

    Disc: It was not one of my better investment decisions.
    om mani peme hum

  8. #518
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    Can anyone perhaps guide me as to why NAB became a SSH in TWR recently? i would've assumed they have enough analyst power to point out the headwinds they're facing?

  9. #519
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    Quote Originally Posted by smtrader View Post
    Can anyone perhaps guide me as to why NAB became a SSH in TWR recently? i would've assumed they have enough analyst power to point out the headwinds they're facing?
    May be as nominee for another party. SSH notices are required for any "interest" in a company's shares - aggregating all holdings of subsidiary and associated entities.

  10. #520
    Speedy Az winner69's Avatar
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    Quote Originally Posted by macduffy View Post
    May be as nominee for another party. SSH notices are required for any "interest" in a company's shares - aggregating all holdings of subsidiary and associated entities.
    Basically all held by BNZ and managed by FNZC by looks of it

    MLC and FNZC mentioned in dispatches

    Been buying for a while now
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

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