TWR - Tower Insurance.

[winner69]

This is the guts of IAG problems (alongvwith credit markets)

"What we find historically and across the industry globally is that when we face into difficult economic times and when claims from prior years get re-valued, companies generally have to look at strengthening their reserves," said Mr Harmer,

I reckon that applies to Tower as well.

[Sgt Pepper]

Its a tough hold alright.

Is TWR still going to court? https://www.tower.co.nz/about-us/new...s-eqc-to-court

Cant find anything on this on the interweb...

Resolution on this $80m claim on EQC is holding back the divis and a $1 share price....

How do you find out when court proceedings are due to be heard in court. Is there an accessible public list/date of pending cases in the High Court??

[nztx]

This is the guts of IAG problems (alongvwith credit markets)

"What we find historically and across the industry globally is that when we face into difficult economic times and when claims from prior years get re-valued, companies generally have to look at strengthening their reserves," said Mr Harmer,

I reckon that applies to Tower as well.

The movements in the Investment markets (Shares & Fixed Interest) wont be helping, with sort of portfolios many Insurers usually carry ..

[Independent Observer AUNZ]

The movements in the Investment markets (Shares & Fixed Interest) wont be helping, with sort of portfolios many Insurers usually carry ..

Tower invests very low risk (fixed interest) for over 99% of assets. Of course interest returns have been impacted heavily but not as bouncy/wobbly as equities markets. Source: Annual Report

[Traderx]

TWR starting to look pretty cheap. Hopeful of divi likely to be restarted. Opened small position

[tim23]

TWR starting to look pretty cheap. Hopeful of divi likely to be restarted. Opened small position

We nearly thought that last time...

[mike2020]

We nearly thought that last time...

I was trapped in the TWR caught by the credit raise then CVD19 after taking a position thinking a divi was due. Woe to all who enter the TWR

[nztx]

We nearly thought that last time...

Too true .. and what was it landed instead ? .. a Cap Raise for an acquisition instead ?

Or was it reserving funds to improve their online platform ?

Or was it Premium refunds to the fortunates on the business end of the deal ?

TWR seem to have rewarded every other sucker in queue first and their long neglected Shareholder contingent appear to
be last in queue.. heck even Policy holders through C-19 got millions repaid ahead in the pile

TWR's treatment of their long suffering Shareholders does seem to be rather "Cheap & Nasty"

[Leemsip]

Half year results out in Oct. I expect another $14m post tax profit for the half taking the full year to around $30m (H1 NPAT was $15m). There will be some movement from Canty provisions, COVID premium givebacks, major disaster costs etc but I think $14m for H2 is a good ballpark.

Total company value is $240m so P/E on this is 8. Also growing gross premiums at 10% per year.

Hopefully we get a positive update on the EQC payout as this is the only thing stopping a dividend payout and a significant re-rate of this share.

Im getting tired of hearing myself say all of this year after year and not seeing it actually happen.

[Traderx]

Half year results out in Oct. I expect another $14m post tax profit for the half taking the full year to around $30m (H1 NPAT was $15m). There will be some movement from Canty provisions, COVID premium givebacks, major disaster costs etc but I think $14m for H2 is a good ballpark.

Total company value is $240m so P/E on this is 8. Also growing gross premiums at 10% per year.

Hopefully we get a positive update on the EQC payout as this is the only thing stopping a dividend payout and a significant re-rate of this share.

Im getting tired of hearing myself say all of this year after year and not seeing it actually happen.

Agree - on the customer side I like how they are moving towards full online/digital - if you do a dummy quote on Tower vs others etc you'll see the difference. As a Wellingtonian I detest/fear their risk based pricing approach, but I grudgingly accept that it is "fair" and any equalization/socialization should occur via govt - which it seems like it is with raised EQC cap etc.