Alea Share Discussion Threads

[handycam] 02/2/2006 14:14

A disinvestment. Don't forget to walk into the AGM backwards.

[adeyberry] 01/2/2006 21:51

Your all mad....lol!!!

What a lovely chart, I think I'm gonna print a copy and frame it!!!

[shanksaj] 01/2/2006 21:44

A tnemtsevni ??

[effortless cool] 01/2/2006 21:06

An outvestment?

[m.t.glass] 01/2/2006 20:49

An unvestment?

[alexandrews] 01/2/2006 20:07

Except it was an anti-investment?

[adeyberry] 01/2/2006 18:27

MTGlass........

PMSL!!!

This has been the best investment I've ever made, love it!!

[shanksaj] 01/2/2006 16:03

If you look carefully you will see there is a hole in the raft near the conductor....

[m.t.glass] 01/2/2006 14:48

Off the coast of Bermuda, Alea's MD organizes a singsong to keep staff spirits high.

[evilwebby] 01/2/2006 13:56

Sinking faster than the Titanic!

[m.t.glass] 01/2/2006 09:40

"...Alea downgraded to 'underperform' from 'in-line' at Goldman Sachs..."

[m.t.glass] 01/2/2006 08:28

Could the Alea boss's move from Alea Bermuda to Amlin Bermuda have a kiss-of-death effect on Amlin's share price? (AML)

[handycam] 31/1/2006 22:57

For clarification:

Financial Strength Ratings
A Best's Financial Strength Rating (FSR) is an opinion of an insurer's ability to meet its obligations to policyholders. Rating Modifiers and Affiliation Codes may also be associated with these ratings. The following list outlines our rating scale and associated descriptions.

Secure
A++, A+ (Superior)
A, A- (Excellent)
B++, B+(Very Good)


Vulnerable

B, B- (Fair)
C++, C+ (Marginal)
C, C- (Weak)
D (Poor)
E (Under Regulatory Supervision)
F (In Liquidation)
S (Rating Suspended)

Their financial ratios are falling away at a rate of knots, which is not encouraging.

Who will buy this stock now? My personal target is 46p (offered), which indicates clearly that I am not greedy.

Yours etc.,

[alexandrews] 31/1/2006 22:52

"At Amlin, he will have responsibility for all non-underwriting activities..."

Given Alea's underwriting record while he was CFO of Alea Bermuda, I guess that's a bit of a relief...

[paddyfool] 31/1/2006 22:24

MT in the telecast the ceo said that KKR had no ability to influence their decisions...........ho hum! I expect that KKR are pressing hard for a sale to the likes of Castlewood. This will have a loan note element attached and nothing much else. Perhaps a small cah consideration of under £20 million. When this is announced or something simila then the share price is of to sub 20p land....alll imho etc. But the clues are there when the CEO says in the telecast thatthey wan to aggresively resolve the run-off. There is only one way to do that and that is sell it.

[m.t.glass] 31/1/2006 20:35

Bloomberg are quoted in the Bermuda press as saying:

"Alea is 39 percent owned by the New York-based buyout firm Kohlberg Kravis Roberts & Co...."

The last stats from Alea I think showed KKR had 41% (?)
This might seem a very small difference - but does dropping under 40% have any significance in regard to corporate influence/responsibilities? I'm not aware that it does but I mention it in case it means anything to anyone else.

-------------------------------------

Also saw this quote reported in Bermuda:

"Too many risks remain," said analyst William Hawkins at Keefe, Bruyette & Woods Ltd. in London, who has a "market perform" rating on the stock and slashed his price target in half to 60 pence a share in an e-mailed note. "The substantial cut in our price target reflects Alea's rapidly deteriorating financial circumstances."

--------------------------------

And this - which includes a bit more on the boss - who it appears is leaving:

"...The group's Bermuda office, which has up to ten staff, is to remain open while the operations are in run off, according to the company. Stuart MacKellar, who heads the Bermuda operation, is leaving to join new Bermuda reinsurer Amlin. His departure has not been announced by Alea, and there is no word on whether his position will be filled..."



(Thinks.... is this runoff, or run away?
Sinking ship... he's outta here...)

[m.t.glass] 31/1/2006 20:16

Been having a bit of a delve among the Bermuda press..


It appears that Alea Bermuda's Chief Financial Officer (and CEO of its whole Bermuda operation) has taken up a job elsewhere - but Alea have not issued an official announcement - nor any announcement at all as far as I can see. So has he gone? Or is he dual-tasking?

The firm he has moved to is .......... Amlin.
(Is he just following an alphabetical career path?)
This from Lilla Zuill of Bermuda's Royal Gazette:

Amlin Bermuda Ltd., a new Bermuda reinsurer established by London insurer Amlin on December 1, has named Stuart MacKellar as managing director.
Mr.MacKellar, who is currently chief financial officer of Alea Bermuda Ltd., said he will join Amlin once Bermuda immigration approval is in hand. Trained as a chartered accountant with BDO Stoy Hayward, Mr.MacKellar moved to Bermuda in 1995 as a senior auditor with KPMG Peat Marwick, Moore Stephens & Butterfield. He joined Alea in 1999 and from 2004 has been CFO and head of the Bermuda operations of Alea (Bermuda) Ltd and Alea Group Holdings (Bermuda) Ltd.
At Amlin, he will have responsibility for all non-underwriting activities and will work closely with underwriting director John Andrews, the company said in a statement.

[adeyberry] 31/1/2006 16:51

True, that's why I stay clear of resource stocks!! Far too dangerous....

[alexandrews] 31/1/2006 16:50

Alea rather put in the shade by Regal Petroleum today...

[adeyberry] 31/1/2006 16:41

I think I may have been the cause of that bump!!

Although I was left with 500 unfilled!!

[holdontight] 31/1/2006 14:35

Off topic on this thread, but did you take a look at PGD....something is definitely going on......oh yes, the MCR thread needs your expert input!

[holdontight] 31/1/2006 14:29

Thanks......but it was MT Glass who alerted me to it, so credit should really go to him.

[adam] 31/1/2006 14:07

I did not take your advice but a great call Holdontight.

[alexandrews] 31/1/2006 03:31

Just think, if A.M. Best read the ADVFN BB's they could have come to that conclusion 12 months ago!

8-)