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16-06-2016, 10:07 AM
#531
Interesting volume ... 2.1 million shares just went through for $1.44; This might set a bottom to the share price?
Discl: just hoping ...
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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27-06-2016, 11:31 PM
#532
Originally Posted by BlackPeter
Interesting volume ... 2.1 million shares just went through for $1.44; This might set a bottom to the share price?
Discl: just hoping ...
Devon funds management have been selling down their holding. They still have another 9m shares so maybe more weakness ahead?
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15-07-2016, 04:33 PM
#533
Almost 11m shares traded today as a fund sells out (probably Devon). Obviously there is a buyer at $1.31-1.32 for large lines of stock and the $1.30 area seems a strong base now and back in 2011.
My guess is we have found a base again and patience will be rewarded at $1.50+ in 2017.
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18-07-2016, 12:12 PM
#534
Member
Hard to see where Tower is heading, or if they are being left behind. There are new players eyeing up the Direct Market space that already are very successful in Australia, and the DM space is being fought with who has the best automated platform. Tower have had a massive screw up in their IT systems, and they are now a few years behind the competition.
Take a look at State's platform as an example of where the industry is heading for DM - automation and instant transaction. If I want to get a quote from Tower, I have to get someone to give me a call.
Last edited by Grunter; 18-07-2016 at 12:14 PM.
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18-07-2016, 12:22 PM
#535
Originally Posted by Grunter
Hard to see where Tower is heading, or if they are being left behind. There are new players eyeing up the Direct Market space that already are very successful in Australia, and the DM space is being fought with who has the best automated platform. Tower have had a massive screw up in their IT systems, and they are now a few years behind the competition.
Take a look at State's platform as an example of where the industry is heading for DM - automation and instant transaction. If I want to get a quote from Tower, I have to get someone to give me a call.
Not sure about Tower's response times ... but "automation" and "instant transactions" are in today's insurance market only a remote dream. I tried some months ago to get alternative quotes for our house and household insurance (I just wanted to see whether my current insurer is still up to scratch) - and it took me with the selected insurers (all big companies and "winners" in the Consumer magazine comparison) more than one hour each on the phone and afterwards some (sometimes overnight) waiting before they sent me an electronic quote. Surely - Tower can't be that much worse - can they?
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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18-07-2016, 01:00 PM
#536
Member
Originally Posted by BlackPeter
Not sure about Tower's response times ... but "automation" and "instant transactions" are in today's insurance market only a remote dream. I tried some months ago to get alternative quotes for our house and household insurance (I just wanted to see whether my current insurer is still up to scratch) - and it took me with the selected insurers (all big companies and "winners" in the Consumer magazine comparison) more than one hour each on the phone and afterwards some (sometimes overnight) waiting before they sent me an electronic quote. Surely - Tower can't be that much worse - can they?
Cechk out State's website. They have an instant transaction platform. TradeMe is another example.
I can guarantee that there are a number of players in the market currently working on these platforms, and they will be brought to market within the next 12 months or so.
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18-07-2016, 01:12 PM
#537
Member
"TradeMe is another example."
I thought Tower was behind TradeMe's insurance platform?
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18-07-2016, 01:15 PM
#538
Member
Originally Posted by Ghost Monkey
"TradeMe is another example."
I thought Tower was behind TradeMe's insurance platform?
It is. So Tower underwrite TradeMe's insurance offering, but TradeMe supply the platform (and take a cut). Theres nothing to stop TradeMe choosing to use another underwriter at any given time
Last edited by Grunter; 18-07-2016 at 01:19 PM.
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19-07-2016, 07:35 AM
#539
Originally Posted by Grunter
It is. So Tower underwrite TradeMe's insurance offering, but TradeMe supply the platform (and take a cut). Theres nothing to stop TradeMe choosing to use another underwriter at any given time
A front end interface like that could be bought or developed easily. However I think we (shareholders) best return would be merging or selling out with/to another company.
Tower seems ripe for takeover at its current SP imo . Strong balance sheet and customer base.
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19-07-2016, 11:52 AM
#540
Junior Member
From an insurance broker's point of view, Tower never ceases to amaze us in its ability to post losses, pay claims out of reinsurance revenue and all the while maintain its high dividend yield; who knows, maybe senior execs jumping ship before the ink's barely dry can be added to their list of industry-defying abilities?
http://www.insurancebusinessonline.c...ns-219853.aspx
Disc: Bought in at $1.24 last month despite my professional opinion/better judgement.
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