Partnership Share Discussion Threads

[scrapheap] 07/8/2014 22:18

I think both PA and JRG are benefiting from the annuity business announcements coming out from the big insurers like Aviva today, where yes the business is down a lot BUT not as disastrously as so many pundits seemed to assume post Budget.

PA's update next Thursday in their interims will show how the specialists are doing vs the old mainstream insurers... how much are the latter benefiting from people not doing the OMO and just swallowing their current providers annuity rates OR are the nimbler JRG and PA showing signs of outperforming the big boys with innovation???

[ashbox] 07/8/2014 14:59

A bit of life in the old dog today!

[scrapheap] 28/7/2014 18:07

Panmure Gordon shown as reiterating buy for PA. today and price target still of 175p

[scrapheap] 17/7/2014 13:31

Reliance Mutual is pulling out of the enhanced annuity market - their smoker annuity had historically seen them take some business from PA and JRG in my experience... one less competitor therefore in this space.

[scrapheap] 23/6/2014 09:53

Inevitable cost cutting announced today - 100 jobs going as PA downsizes to likely market size...

Imagine the cost saving if and when JRG and PA. merge to be 'the' specialist most nimble footed enhanced annuity provider who also does DB buyouts, long term care annuities, FTAs & equity release?

I would hope the research analysts who follow these could estimate what the combined balance sheet, P&L etc might look like with the 2 backbooks combined?

[scrapheap] 05/6/2014 08:52

Confirmed, PA. is removed from the FTSE 250 and FTSE 350 from effect Monday 23rd June.. It joins the FTSE Small Cap index instead however.

Swings and roundabouts, I imagine there's more trackers in the bigger indices.

[bluprince] 03/6/2014 08:47

Salpara111, looks like you were pretty much bang on the money with your previous prediction

Salpara111
15 May'14 - 20:16 - 348 of 370

[scrapheap] 02/6/2014 07:20

Why on earth do they pay for an RNS each month to show their shares in issue? I don't think there's any need to do so... got me going for a monday morning if nothing else.

[melody9999] 31/5/2014 08:44

Salpara - the clarity will come in the coming months ..... by then the share price will reflect that clarity of course. If it was now November or December I think my money would be elsewhere. But through the summer I think the risk these will fall much further is small; the amount they gain will be dependent on the outlook for annuities.

As often happens, I think the prediction for the demise of annuities is overdone; not only because people will continue to buy the certainty of annuities; but also because new products will become available based on the change in legislation. JRG and PA. have to re-invent themselves as well and their share price will perhaps reflect how adaptive and creative they are .....

[salpara111] 30/5/2014 23:02

Well, the share price appears to have stabilised but it is still unclear if the current share price represents a bargain or not.
I have put this on my monitor again with a view to watching the next 3-6 months.

[rathkum] 29/5/2014 19:54

Thanks hjs for your post. As you point out, an interesting read. On a two year horizon, PA could turn out to be a bargain at this level.

[hjs] 29/5/2014 13:51

An interesting article in yesterdays evening standard. Worth a read for PA. investors.

[rathkum] 23/5/2014 23:30

Is the death of annuities overdone? Three in four went ahead with purchase despite 'pension freedom' reform, broker claims

[ochs] 20/5/2014 19:16

Thanks for the correction, apologies.

[bluprince] 20/5/2014 14:34

Ochs, both companies are based in Surrey, Partnership are based in Redhill/Central London and Just Retirement are based in Reigate.

[ochs] 20/5/2014 13:26

Yes, it does seem an obvious solution, especially as I believe (and correct me if I'm wrong) they are both based in the Kent area.

Another outcome (probably longer term) is that when the dust settles Pru, L&G or Aviva buy one or both of them up?

[scrapheap] 20/5/2014 08:14

I am very surprised no analysts have suggested that JRG and PA might retrench and look at a merger as this would strip out costs and leave the merged entity as the 'go to' enhanced annuity provider in a 'new world'.

[scrapheap] 17/5/2014 16:53

I'm not sure I've posted this thought on here but one thing I'm seeing is that people are now happier to pay more in to pensions as they think there's more choice on taking money out with the end of so called compulsory annuitisation..

I don't think anyone in the media / research analysts have noted that actually this new freedom is almost certainly going to see pension pots swelling in size as those who previously thought ISAs/property were far better options than pensions and evil bad annuities, can now see the tax relief for the pension and then drawing it out over a tax-efficient period once their working income drops.

In that world of bigger pension pots, there will still be some buying annuities for life or at least some of their pot for that (a base line) and then use of FTAs, investment drawdown etc etc on top.

So the annuity cake may be smaller BUT the pension funds to be invested are likely to be larger than currently predicted.

That's my hunch anyway!!

[actybod] 16/5/2014 13:09

More US business and corporate annuity transactions in a recent MM article.

[scrapheap] 16/5/2014 11:11

Worth a watch when this is available - panel includes Steve Groves. I thought it was the bloke from Pointless to start with!

[alyo] 16/5/2014 09:49

Evil Knievel has reiterated a buy on this

[salpara111] 16/5/2014 09:41

The simple fact is that no one really knows what this business is worth today.
Until we see at least 6 months of trading under the new annuity rules we wont really know where it will land.
I thank my lucky stars as I had been watching both PA. and JRG but hesitated as I could not decide which one to go for.
I am keeping an eye on them as there may be value in the future but it will take time to become clear.