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  1. #611
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    Could be opportunistic now with all the bad news out there?
    Quote Originally Posted by winner69 View Post
    I have the feeling many/several have looked over Tower as an acquisition and say nah ....at least while an unquantified significant liability hanging over their heads

    Maybe in a few years time if they get through the current crises

  2. #612
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    Can't even calculate customers discounts correctly .....no wonder they have problems with adding up what Christchurch might cost them

    Not a good look - from a consumers perspective anyway
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #613
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    Quote Originally Posted by winner69 View Post
    Can't even calculate customers discounts correctly .....no wonder they have problems with adding up what Christchurch might cost them

    Not a good look - from a consumers perspective anyway
    I think you're referencing to the below article...

    http://www.interest.co.nz/insurance/...s-multi-policy

    SHOCKING!!!!!

  4. #614
    Speedy Az winner69's Avatar
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    a month or so and share price still sinking - 85 cents as i post

    I see IAG spent a considerable amount on reinsurance for CHch last fiscal and sort if commented they don't really know if they need more

    With no takeover likely where to with TWR share price
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  5. #615
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    Quote Originally Posted by winner69 View Post
    a month or so and share price still sinking - 85 cents as i post

    I see IAG spent a considerable amount on reinsurance for CHch last fiscal and sort if commented they don't really know if they need more

    With no takeover likely where to with TWR share price
    Indeed. Is Tower in a death spiral or are we approaching irresistible take over price??

  6. #616
    ShareTrader Legend bull....'s Avatar
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    not good for this company, wonder what the hit is they might not have cover?
    one step ahead of the herd

  7. #617
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    Quote Originally Posted by bull.... View Post
    not good for this company, wonder what the hit is they might not have cover?
    Most of their policies by volume and value are likely to be in the major cities. From what I've seen in the news Wellington and Christchurch were shaken but ok which will limit the scale of the claims meaning this is not a repeat of the Christchurch in terms of claims and will be massively under any reinsurance limits (its blowing out the top of reinsurance limits that is creating problems re the Chch quakes).

    Assuming the cumulative reinsured bill is modest it may even be good for the insurance industry as it helps disconnect the view large earthquakes in NZ create hundred of millions if not billions in claims.
    Last edited by Scrunch; 14-11-2016 at 10:32 AM.

  8. #618
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    Quote Originally Posted by Scrunch View Post
    Most of their policies by volume and value are likely to be in the major cities. From what I've seen in the news Wellington and Christchurch were shaken but ok which will limit the scale of the claims meaning this is not a repeat of the Christchurch in terms of claims and will be massively under any reinsurance limits (its blowing out the top of reinsurance limits that is creating problems re the Chch quakes).

    Assuming the cumulative reinsured bill is modest it may even be good for the insurance industry as it helps disconnect the view large earthquakes in NZ create hundred of millions if not billions in claims.
    Looking at the damage so far, surely its got to be already well into the hundreds of millions - replacing some of those roads will cost that (not that they will be insurance claims thou) - there is quite a bit of damage in Wellington as well with some of the port and its wharves moved by a metre - I have a friend who is in a 5 storey apartment building in Wellington CBD who says he was told the building will be condemned as has moved half a metre if so, that alone is a big claim. The TSB arena and BNZ building (why you would build a massive building like that on a wharf anyway is beyond me) both sustained damage. I would say this could quite easily get into the billions range.
    Last edited by JAX; 14-11-2016 at 12:15 PM.

  9. #619
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    Quote Originally Posted by JAX View Post
    Looking at the damage so far, surely its got to be already well into the hundreds of millions - replacing some of those roads will cost that (not that they will be insurance claims thou) - there is quite a bit of damage in Wellington as well with some of the port and its wharves moved by a metre - I have a friend who is in a 5 storey apartment building in Wellington CBD who says he was told the building will be condemned as has moved half a metre if so, that alone is a big claim. The TSB arena and BNZ building (why you would build a massive building like that on a wharf anyway is beyond me) both sustained damage. I would say this could quite easily get into the billions range.
    CNN has reported that it would be at least a billion dollars in damages. Another round of insurance premium hikes for the Shaky Isles?

  10. #620
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    Quote Originally Posted by Bjauck View Post
    CNN has reported that it would be at least a billion dollars in damages. Another round of insurance premium hikes for the Shaky Isles?
    Premium hikes the least of our worries. You just might see some insurers withdrawing coverage. Homeowners / landowners and business owners unable to get asset protection will reduce the value of those assets.

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