R&q Insurance Share Discussion Threads

[royalles] 23/4/2024 11:18

Simon - i think more likely it will be sold as a whole and possibly bought out by one of the regional big boys.In terms of returns to shareholders i would guess somewhere in excess of 18p upto 31p a share.

Is all due to be resolved during Q2 so is very much game on to buy current cheapies IMO

[simon gordon] 23/4/2024 10:45

With the two new non-execs being specialists in restructuring it looks like the company could be turned into an unlisted SPV as they work through the legacy of Messrs Randall & Quilter.

Still can't get over that Phoenix and Slater blocked 170p.

[fx analyst] 23/4/2024 10:44

Tia,check out what the telegram group is saying :-) it is looking very very good indeed.





Tia01- 22 Apr '24 - 11:10 - 1468 of 1471

Is this on the verge of a big bounce. Plenty of buying in shares at these low prices!!!!!!

[red ninja] 23/4/2024 10:39

Mmm Dantee, you appear to be telling me it is dirt cheap, but no sign of funds or anybody with credibility buying, just mug punters.

[dantee] 23/4/2024 08:48

When that RNS lands this will do a minimum 15 bag quickly IMVHO

Could land at any moment too !

[red ninja] 22/4/2024 13:26

The question for me is can they stop the significant losses ?

[tia01] 22/4/2024 11:10

Is this on the verge of a big bounce. Plenty of buying in shares at these low prices!!!!!!

[profit7] 16/4/2024 14:49

$500m sale this Quarter
Mcap £10m

Do one mms this should be 40p

Because 60p on sale

[sbb1x] 08/2/2024 11:56

4.50 on the bid, any chance of a turn around here.....

[foreverbull] 02/2/2024 16:50

Looks like this is going towards (sad) demise !

[sbb1x] 23/1/2024 11:47

New 52 week low

[catabrit] 22/12/2023 09:56

More bad news. I just do not know how the average PI can underwrite the risk reward of this thing.

[controlledmadness] 14/12/2023 09:03

This deal seems bad. The items that R&Q are committed to from the purchase price seem to be there to make the price sound better.
I can almost understand the load of 46 million having to be repaid .
The capital contribution to Accredited should come with some value like shares or be made by the buyer.
I am not sure what the extra collateral is for but if it is accredited then the buyer should be paying it.
The assumed debt 0f 27 million from accredited should not left with accredited.
So at best 27+76 million =103 million should be deducted from the purchase price with the buyer just giving the money to Accredited.
So the purchase price is actually 362 million.
If the collateral is for Accredited then another 40-80 million need to be deducted from the purchase price.

[sbb1x] 17/11/2023 15:48

Up 18 percent and no posts...

[topvest] 15/11/2023 14:12

Very interesting developments here. I did well out of this by backing Ken Randall and exiting when he did. Phoenix and Slater thought they new best and have come thoroughly unstuck. I wonder whether Ken Randall may be tempted back? He would need to buy one of the larger holders shares first. It's back to what it was, with the legacy business, at 1/10th of the price!

[hybrasil] 24/10/2023 18:35

Yes a friend sent me that article.
I made good money historically from R&Q. Having read that article I decided it was barge pole material

[simon gordon] 24/10/2023 16:02

Here's how the Insurer is covering it, article is paywalled:

R&Q sells the Accredited crown jewels but proceeds represent only half of debt

The $465mn enterprise value put on Accredited in its proposed sale to Onex Partners appears to be broadly in line with expectations, but net cash proceeds available to R&Q after the deal closes may cover as little as half of the beleaguered parent’s debt, analysis by The Insurer shows.

[catabrit] 24/10/2023 14:35

Yeah, spot on. None of the newcomers have done well. Enstar have bossed it and that is probably because they have been in the game for thirty years and own 30% of the stock.

[foreverbull] 24/10/2023 14:31

I think the problem with legacy business is they may have priced the acquisitions aggressively which is haunting them now....

[catabrit] 24/10/2023 13:53

Market is saying TBV is likely lower as liabilities have not been priced properly. I would rather own Enstar Group at 0.9x book and likely lower when you take into account their conservatism.

[willemers0n] 24/10/2023 13:47

Agree not uncommon to trade below book, and anything below <0.5 book generally pricing as highly distressed. Interesting to note, 3mn shares traded since yesterday on a float of approx. 374mn or 0.8% - illiquid small cap. Someone could come in and be comfortable at 0.6x book following de-levering and that's be a 2x from here. But ofc it's insurance and not even mgmt seem to know where liabilities are landing...

[willemers0n] 24/10/2023 11:25

Indeed, but at 20 pence a share, it's now trading at 0.31 P/book or .21 P/ tangible book. They're getting $50mn working cap and liquidity for RQ next 18 months operations, plus that's assuming the top end of $80mn in collateral for RQ legacy liabilities and only $170mn de-levering. They're also injecting $76mn equity to Accredited ex-post transaction, so RQ should still own a stake in accredited right? Unless they're quite listerally asset stripping and leaving a doomed ship, in which case they'll have lawsuits coming their way from main shareholders. Would love ppls thoughts