Brit Insurance Share Discussion Threads

[jwe] 29/9/2003 16:19

Does anybody know the reason for the fall today?I would have thought after record profits this share should be on the way up!

[nil pd] 26/9/2003 00:10

Transparent, we men! Sanity returned.

Still, I'm hurting. I will keep the faith. Not selling!

Anyone know of any good news? No more hurricanes for example.

[azalea] 25/9/2003 18:45

Questor reckons they are worth a punt and puts them on a PE 8.5.

The thing to bear in mind is that they are in significant profit(well exceeding mkt expectations - £18m) and the full year is likely to be equally good. Even though the mkts may fall, BRE is going to continue to churn out very good profits for the next two years at least. With such prospects in mind if the price falls beyond fair value, they are not so big that a much bigger fish (looking to bolster its earnings) can't swallow them up. I believe the director/s recent purchase recognises their good value. I do not see them falling below 70p period!

[priscilla] 25/9/2003 11:52

You're probably a bloke, so fickleness is just something that goes with the territory!!! (Stands well back to avoid sharp incoming objects!)

[nil pd] 25/9/2003 08:48

Window closed... it was too cold

I see Mr C F Coates has nearly doubled his holding to 90,000 shares. I always put a lot of store behind director share purchases.

Window locked. Heading for the elevator to push the up button. At the top of the elevator is the launch pad...! Fickle aren't I?

[nil pd] 25/9/2003 00:44

qas27 - doesn't make sense does it? Whoever is/are the major seller/s(Amvescap?) obviously NEEDS to sell, ie needs the cash, because this company is clearly not a 'sell' (imo). Before the interims, I would have said to you, last chance to get in at a good price! Where do you think the price is headed now? Flat perhaps?

[priscilla] 24/9/2003 14:59

Nil Pd: this has a pretty solid floor in the mid 60p range. Plus you can console yourself that even for a very wealthy individual indeed, Neil Eckart must be watching his massive purchases at 80p with that stomach-churning feeling we've all experienced!

[nil pd] 24/9/2003 14:43

Am beginning to wish I'd sold when they hit 82p. Help me...need to keep faith...that open window is beckoning....!!!

[rambutan2] 24/9/2003 14:30

got fairly good write up in ft, but said share price would be static for now. neil woodford, manager in charge of perpetual unit trust with big holding has decided to sell down a bit. that is whats happening. i spose that potential buyers are just letting price drop and will step in when think its reached its bottom. thats what i would do.

[qas27] 24/9/2003 11:08

Selling just does not stop. Today has seen the biggest sell off within the last 3 weeks.

A definate growth company though it has fallen out my favour in the short term

[rambutan2] 23/9/2003 14:43

i thought they read well, perhaps the mkt didnt like the reminder about the div situation. in any case, they said what they could to reasure re how their risk profile is being lowered. pity they couldnt have taken advantage of the equ rally with some of that £575m cash, but i suppose that might up the risk in some peoples eyes. cant help thinking that a big opp is going to waste, but thats bye the bye. the ri3k business is interesting. could it have big potential? seems as though the seller, or one of them, is amves and they hold a v big chunk. wonder how much they want to reduce their position.

[davidcod] 23/9/2003 14:14

will be interesting what the press have to say.

tomorrow could be a good day, especially if US does well

[jwe] 23/9/2003 10:32

pe will be a lot less than 25. eps of 2.82 is for the 6 month period only

[nil pd] 23/9/2003 09:27

The results do indeed look astonishingly good. Puts the shares on an undemanding PE of 25.5, if my calculations are correct. And the net tangible assets underpin the price substantially.

The following para in the RNS made me a little nervous and might explain the cool reaction by the market. Does it refer to raising money??? I'd welcome views.


"In order to provide continued flexibility, we are currently
talking to our bankers about the creation of further debt facilities. However,
we are unlikely to extend the Group's gearing inclusive of convertible unsecured loan stock to more than 30% of net tangible assets".

[jwe] 23/9/2003 08:59

Agreed. Results seem impressive to me ,however the market does not seem to share the same view any thoughts why?

[paddyfool] 23/9/2003 08:36

At first pass the results look great potential for the year to earn out significantly in excess of £75 million.

[paddyfool] 23/9/2003 08:36

At first pass the results look great potential for the year to earn out significantly in excess of £75 million.

[qas27] 21/9/2003 20:13

Results on tuesday, good lck all to all holders.

[gnik] 18/9/2003 11:05

Paddyfool how will this affect other ilv's wun etc

[paddyfool] 18/9/2003 09:31

Very ugly reading.But this was ineveitable the moment they announced their initial problem see GOS thread for my views...pretty damm accurate I would say.

[qas27] 18/9/2003 09:27

GoshawK Insurance Holdings down 44% (profit warning)

[paddyfool] 18/9/2003 09:24

When the time comes for him to reaslise this he will be ok, It also gives him some clout on the exec board and will be a little harder to shift if they want him out.