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HGH - Heartland Group Holdings
Building Society Holdings (BSH) is now Heartland NZ Ltd (HNZ) so might as well start a new thread with the new name.
Last edited by STMOD; 31-10-2018 at 03:08 PM.
Reason: name changed yet again
SCOTTY
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Member
Originally Posted by SCOTTY
Building Society Holdings (BSH) is now Heartland NZ Ltd (HNZ) so might as well start a new thread with the new name.
Its share price suggests that "hard land" is more suitable name.
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Originally Posted by Newman
Its share price suggests that "hard land" is more suitable name.
Love it.!!!!! lol
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Seems the silk purse remains a sows ear........
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Obviously ACC does not share the pessimistic view of the above posters as a SSH notice today says that they now own 5.64% of HNZ. Like me they see more of the "Promissed Land" to come.
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Originally Posted by SCOTTY
Obviously ACC does not share the pessimistic view of the above posters as a SSH notice today says that they now own 5.64% of HNZ. Like me they see more of the "Promissed Land" to come.
Unless they got them from their PGC holding.? They did have 54,444,099 PGC shares on 23/9/10.Will be interesting to see whether they think PGC or BSH is the road to the "Promissed Land".
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Originally Posted by belgarion
ITs worthwhile following what the ACC is up to as they have a pretty good track record. The fact that they are investing in a start-up that probably won't be paying a divie for quite a while suggests they see this as an exceptional investment (under their fund management rules) as I understand they usually have to recieve income fairly immediatley to help offset ACC claims.
Hardly a start-up belg. Marac and the other two businesses have been around for a day or two!!
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Fluid Member
NZX have announced Hearthland is to enter the NZX-50 index on June 20 (and PGC will exit it.)
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Originally Posted by belgarion
ITs worthwhile following what the ACC is up to as they have a pretty good track record. The fact that they are investing in a start-up that probably won't be paying a divie for quite a while suggests they see this as an exceptional investment (under their fund management rules) as I understand they usually have to recieve income fairly immediatley to help offset ACC claims.
ACC do have (or at least did have) a good record, but not for reasons of immediacy.
Levies pay the claims of today. The reserves are for the long tail typical of a compensation book that may need to pay long term injury claims years so there is very little that needs to be immediate beyond standard cashflow /treasury / cash management needs that the levies already meet. ACC are typically profitable on a cashflow basis and have little need to tap technical reserves - it's on the long tail actuarial view that reserves need to be established for.
This is also the secret of how private Worker Comp companies make money in other countries - they trade on smaller insurance margins because they understand the funds may be captive for decades before being required for claims so investment returns are consequently higher then a short tail insurance book like say State Insurance's who have to pay for Motor claims in short order.
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