Brit Insurance Share Discussion Threads

[madbadtrader] 30/4/2008 12:45

Someone bought £0.9M at £2.56 first thing this morning! This probably caused the markup and then the stampede to get out followed! However nice to see it has crept back up. I wonder what the person with almost a million quid was thinking - or what does he know?

[oniabsta] 30/4/2008 10:04

Same here.hope to buy them back shortly :0)

[deadly] 30/4/2008 10:00

Can only guess that the BRE property news above was mistaken for this share. Seems unlikely though. Nice surprise and I took the chance to sell 5k shares

[oniabsta] 30/4/2008 08:20

Anyone know whats happening? + 11%!!

[oniabsta] 15/4/2008 09:30

Exd tomorrow, 14.5p div = 6% of share price Last chance!

[oniabsta] 11/4/2008 15:51

Well I'll buy into that.....I did actually.... another 2000shs.

[benson] 11/4/2008 12:07

From t1ps today - Simon Cawkwell says BRE have lost a satellite (careless chaps). An 'informant' tells him the loss will be $90m and is not re-insured. Hence BRE is 'going down'.

[oniabsta] 20/3/2008 08:59

He's just fishing!

[little beaker] 19/3/2008 16:11

Hi Simon

BRE has released its best-guess sub-prime liability estimates. It's there in clear English in the final results and includes how much business they've written, with best-guess for claims likely to be received. They have denied having any exposure to subprime assets.

We've agreed that the level of exposure is uncertain and subject to revision, but that's what the whole business of insurance is about... no uncertainty, no insurance!

To put this in some context, their estimate for subprime losses comes in at significantly less than they will pay in dividends this year (a yield of nearly 10%). The dividend came in above expectations and they are continuing a share buy back programme, neither of which ally with your theory that their balance sheet is precarious.

Hope this helps,
Beaks

[simon cawkwell] 19/3/2008 10:25

Little Beaker,

Thank you for mentioning to me the advantage of reading. Very helpful.

However, much as I have read the statement, I cannot see any acceptable certainty as to what sub-prime comes back on BRE.

The fact is that sub-prime is moving quickly and an estimate of what is a market bid last week is most certainly not the same as a week later.

I think there is a sporting chance that BRE is fatally holed below the waterline.

Simon Cawkwell

[little beaker] 18/3/2008 10:18

Well, if you bothered to read (you can read, right?) their final results they have clearly stated how much of a contingency they have earmarked for subprime-related issues such as those you've flagged. I don't see how they've been anything other than transparent on the issue.

It's true that their ultimate subprime exposure will continue to be uncertain, and that speculation will influence the share price, but what is already known (and estimated) is already in the public domain, and therefore already reflected in a stock price of less than net tangible assets.

I'd personally be scrutinising those banks with the largest proportion of UK housing exposure, such as HBOS, AL, BB.. It's clear to me that UK housing is teetering on the brink of a crash greater than that seen in the US.

I reckon the only way out of this mess for the US and UK govts is to try to inflate their way out of public and private debt at the expense of savers.

[simon cawkwell] 17/3/2008 15:59

Gentlemen,

What is the definition of "near cash"?

How much of BRE's bonds will prove bad?

How much insured sub-prime bonds will be put back on to BRE?

Simon Cawkwell

PS: This looks a short to me

[harry rags] 10/3/2008 14:54

plus the buy backs looks like a great opportunity IMHO

[deadly] 10/3/2008 12:19

Nice results today. P/E of 5.3 and yield of 6.6% plus a special divi of 7p.
No-brainer for an income stock.

[jonak] 05/1/2008 01:38

...just need to wait out the recession

[harry rags] 03/1/2008 10:34

Its not that long ago that the company were buying back shares at 353p so 300p should be no problem IMHO

[little beaker] 31/12/2007 20:14

Stuck a few grand in this doggy:

- Discount to NAV
- P/e Discount to sector
- Share buyback
- Subprime worries overblown (IMO)
- Big fat dividend

Price target: £3

[harry rags] 24/12/2007 12:29

Company now started a buy back should send the share price northwards IMHO

[jonak] 20/12/2007 23:08

still descending...
driven by Deusche bank selling some ?

[bloodsports] 17/12/2007 17:17

Taken a big hit today, hope nothing too serious, think they all took pasting, but we fell the most.

[jonak] 13/12/2007 00:38

for what its worth, I'm buying.... nothing material that I can see to depress the SP

[liquidkid] 11/12/2007 15:14

Reinsurer Kiln (KIN) receives takeover offer, just half the mkt Cap of BRE and Goldmans now holding almost 10% could be in play soon as well.

[harry rags] 11/12/2007 15:00

Good to see a director buying at 246p

[alfred] 10/12/2007 13:00

This is one of those bad news market anomalies....except there is no bad news!

A share price recovery is assured.

[dumpling] 10/12/2007 12:04

I'm not aware of any future buy backs.