R&q Insurance Share Discussion Threads

[this_is_me] 16/10/2013 21:24

Expect an RNS announcement by tomorrow.

[jonwig] 16/10/2013 10:28

It takes a bit of finding, but the shares go xd tomorrow:

Record time (for determining entitlement to N Shares and O Shares), 5.00 p.m. on 16 October 2013

Credit CREST accounts with 'interim CREST entitlements' 17 October 2013

Existing Ordinary Shares commence trading ex-dividend 17 October 2013

Anticipated time and date of issue and allotment of the N Shares and O Shares At or after 6.01 p.m. on 28 October 2013

Effective date for the Return of Value 28 October 2013
Credit CREST accounts (with respect to the Capital 4 November 2013

[Circular page 3]

[speedsgh] 15/10/2013 12:42

Positive update in Simon Thompson's bargain share portfolio column on the IC website today...

"...Trading on a modest premium to net asset value of 138p, and offering a solid 5.5 per cent historic dividend yield, I would run the 36 per cent profit we have made on this holding especially as it is only reasonable for the company to deploy its cash by making further value enhancing run-off acquisitions in the coming months."

[beaufort1] 15/10/2013 11:40

Nice little spike up today

[topvest] 28/8/2013 09:23

Results here are always a bit volatile. What matters is the results over the medium term and that still looks pretty good. Happy to hold.

[speedsgh] 28/8/2013 08:35

"Undiscounted net tangible asset value per share of 119.0p"

Wouldn't be surprised if the markets decide that today's results no longer warrant a continuing premium to NTAV. Having sold down c50% of my holding on the spike at the end of Mar, I would welcome any weakness to rebuild my position. I'm more interested in the long term picture + the distributions which should start to grow again in the not too distant future.

[this_is_me] 28/8/2013 07:49

In the long term the prospects for the company seem excellent for investors like myself. Whether it will be possible to sell and then buy ad a lower price is not really my area nof expertise.


Outlook

Overall, the outlook for Randall & Quilter is promising and we expect that the full year result will meet management's expectations based on a higher anticipated contribution from new legacy related acquisitions during the second half, which should compensate for the impact of lower investment returns and the slower earned premium development in Syndicate 1991.

The business continues to be in a transitional phase with its emergence as a significant active market participator, the impact of which should be very material over the medium to longer term given the growth opportunities we expect to be able to pursue.

Meanwhile, our acquisition activity in the legacy insurance area is benefiting from a very strong pipeline and we expect to deploy promptly the remainder of funds raised from the placing to help fund a number of transactions in the remainder of the year. This should bring an immediate as well as sustained benefit to the Group through the potential for additional service income and future potential reserve savings.

Whilst we have some near term challenges in our service businesses, which include managing the costs associated with increased regulation, the transition to a focused and relevant product offering is well under way with a range of new initiatives both in the short term and most notably over the medium to longer term.

K E Randall

Chairman and Chief Executive Officer

[jonwig] 28/8/2013 07:38

Thanks - didn't see it. The 'capital' option for me.

[this_is_me] 28/8/2013 07:36

Return of Cash via a N/O Share Scheme

The Return of Value, details of which will be outlined in a circular to be posted to shareholders during September, will give shareholders the option of receiving their payment as capital or income and provides a more flexible and efficient mechanism of returning capital. The payment of 3.4p per share is anticipated to be made through the scheme in early November 2013 to those shareholders on the record date in October 2013.

[jonwig] 28/8/2013 07:28

No they aren't disastrous, but I have to wonder what all the excitement was about in the run-up to these results.

The longer-term outlook (as quoted in post #344) is excellent, but were recent buyers that kind of investor? And anyway, the market is due to fall at open, so there might be a scramble out.

I can't find a calendar for the 3.4p payment: is it there?

[this_is_me] 28/8/2013 07:17

Overall, the outlook for Randall & Quilter is promising and we expect that the full year result will meet management's expectations based on a higher anticipated contribution from new legacy related acquisitions during the second half, which should compensatefor continuing low investment yields, the impact of slower earned premium development in Syndicate 1991 and the costs associated with optimising our regulatory and operational platforms. Looking into 2014 and beyond, we regard the future with confidence having positioned the Group well to benefit from the significant opportunities ahead in both our traditional area of run-off investments and in our developing active underwriting operations."





In common with many other insurance groups, our results for the first half were adversely affected by the declines in values of investment assets during the latter part of the period as the combination of rising yields and widening spreads took its toll. Over the period as a whole, however, the Group's investment performance was positive as we have for some time maintained a low average portfolio duration. I am pleased to report that all of the approximately GBP1m investment loss booked in June was recouped in July as investment markets recovered. Though we have on-going exposure to credit market volatility, the short duration of our investments will enable us to benefit from rising yields on the floating rate securities we hold or reinvest them at advantageous yields if and when the end of Quantitative Easing occurs

[manrobert] 28/8/2013 07:11

these results look disastrous.

[this_is_me] 27/8/2013 10:26

Happy days! The chattering masses haven't spotted this one but we are making lots of money!

[manrobert] 26/8/2013 07:51

and also simon thompson may update prior to results

[lord gnome] 25/8/2013 15:52

Figures due this week. A very bullish update in Friday's IC. If their predictions come to pass then the figures should be very good indeed.

[jonwig] 30/7/2013 07:08

New website has been given a bit of treatment.
I haven't checked for content yet.

hxxp://www.rqih.com/

[sogoesit] 12/6/2013 10:47

A pain-killer :-)?
Maybe, but the dividends alone have returned 14% since my purchase in 2011 coupled with capital growth of 20% pa.
Only just bettered by Chesnara.
May it long continue....
Cheers!

[lord gnome] 12/6/2013 10:16

Anodyne will do nicely thank you :-)

[this_is_me] 12/6/2013 08:49

Anodyne statement.

Boring steady progress is good.

[lord gnome] 12/6/2013 07:19

Good IMS / AGM statement today. Everything looks positive. No worries with this one.

[cnx] 10/6/2013 03:49

alto ego,thanks
I have posted on the above thread on mf today

[alter ego] 09/6/2013 09:37

cnx, not exactly, but this thread on the Fool does have some useful info hxxp://tinyurl.com/pkn6wly

[cnx] 08/6/2013 03:15

alter ego

is there a BB where AIM shares are discussed, focusing on IHT avoidance?

[sogoesit] 07/6/2013 11:46

Dealing with french business is risky in my view (based on personal experience!) but, my investment faith is in R&Q's hands, I have accumulated some 15% more to my holding today.

[alter ego] 07/6/2013 11:13

well spotted jonwig. It does also have possible implications for IHT. I've never been sure whether RQIH would be regarded as a stock that qualified for Business Property Relief as it is not a pure "trading" company as distinct from one that just invests in assets. Notwithstanding, the yield has made this an attractive punt that it might qualify for BPR and thus be exempt from IHT after two years of ownership.

Being listed on a "recognised exchange" (Bermuda is one) as defined by HMRC removes all doubt and bars RQIH from IHT relief so my holding will be heading for my ISA when the spread allows.