Brit Insurance Share Discussion Threads

[evox] 24/6/2009 09:23

Academic now. Would have been a good deal. Chaucer's loss.

[hoots mon] 22/6/2009 15:21

www.intermarketstocks.com has some broker comment regarding the offer.

[1fox1] 19/6/2009 12:22

Was reported in a number of sources that Brit is lining up a 0.23 brit shares per chaucer share merger.

Looks like the market today is betting on the reported going through - be interesting to see if they can get the major shareholders on board for this one.

I think it's a good deal for both parties, as an enlarged entity will have a better market concentration in a number of lines, which should lead to a number of synergy opportunities and pricing power.

[1fox1] 17/6/2009 14:51

Well no one knows more than the RNS statements that were released last week... people forecasting all kinds outcome which is causing uncertainty - people mooting a 3:1 agreed all-share offer (which sounds like way overvaluing CHU) to a 4:1 share offer (more sensibly valuing CHU at around 45p/sh), or no deal at all.

I'd bet on the final outcome personally, but I think for all parties (including CHU) the faster a conclusion to these talks is reached the better.

[ironhorse] 17/6/2009 10:19

What is the situation now with the Chaucer bid?

[1fox1] 17/6/2009 09:27

BRE downgraded yesterday by Fitch on earning volatility fears, from AA to A.

Me personally, if it wasn't for uncertainty surrounding the Chaucer bid, I'd say these were a stomping buy.

[evox] 10/6/2009 20:49

Yes, i'm still in. Nice steady share for an ISA. Strong balance sheet, good prospects.

[lonrho] 10/6/2009 14:40

very quiet board is there none left invested in this.

[jonak] 12/5/2009 20:57

yes, done quite well
reassuring performance and savvy management.
keen to see how they perform in USA

[evox] 12/5/2009 17:06

Excellent (and div next week too)!

[harry rags] 12/5/2009 16:42

OK I got it

[harry rags] 12/5/2009 16:38

What statement?

[makingheaps] 12/5/2009 12:42

Very upbeat statement today, hope we can close above £2.

[evox] 09/5/2009 21:26

Talk that Brit Insurance, up 4½ to 182½p, is set to bid 55p a share for rival Chaucer, up ¼ to 41¼p, could prove wide of the mark. Brit's investors are said not to be keen on the deal as the company is already trading at a discount to its net asset value. Sources said one solution could be for Chaucer's management team to be installed as head of the merged entity by a reverse takeover. Private equity firm Pamplona, which has been vying with Brit for Chaucer, is understood to have dropped out of the auction.

[evox] 22/4/2009 20:27

2009 UK Budget - Stock Implications
Marginal positive for Lloyds Insurers - Tax relief on claims equalisation
reserves to be extended to Lloyd's insurers as well as general insurance
companies. This is a small positive for Brit Insurance (BRE.L; £1.75; 1H),
Hiscox (HSX.L; £3.20; 2M) and Catlin (CGL.L; £3.40; 1H).

[rdlaing] 08/4/2009 02:27

G-D This woman is disgusting



Largest Landowner
"Queen Elizabeth II the largest landowner on Earth."
Queen Elizabeth II, head of state of the United Kingdom and of 31 other states and territories, is the legal owner of about 6,600 million acres of land, one sixth of the earth's non ocean surface.

She is the only person on earth who owns whole countries, and who owns countries that are not her own domestic territory. This land ownership is separate from her role as head of state and is different from other monarchies where no such claim is made – Norway, Belgium, Denmark etc.

The value of her land holding. £17,600,000,000,000 (approx).

This makes her the richest individual on earth. However, there is no way easily to value her real estate. There is no current market in the land of entire countries. At a rough estimate of $5,000 an acre, and based on the sale of Alaska to the USA by the Tsar, and of Louisiana to the USA by France, the Queen's land holding is worth a notional $33,000,000,000,000 (Thirty three trillion dollars or about £17,600,000,000,000). Her holding is based on the laws of the countries she owns and her land title is valid in all the countries she owns. Her main holdings are Canada, the 2nd largest country on earth, with 2,467 million acres, Australia, the 7th largest country on earth with 1,900 million acres, the Papua New Guinea with114 million acres, New Zealand with 66 million acres and the UK with 60 million acres.

She is the world's largest landowner by a significant margin. The next largest landowner is the Russian state, with an overall ownership of 4,219 million acres, and a direct ownership comparable with the Queen's land holding of 2,447 million acres. The 3rd largest landowner is the Chinese state, which claims all of Chinese land, about 2,365 million acres. The 4th largest landowner on earth is the Federal Government of the United States, which owns about one third of the land of the USA, 760 million acres. The fifth largest landowner on earth is the King of Saudi Arabia with 553 million acres

Largest five personal landowners on Earh Queen Elizabeth II 6,600 million acres
King Abdullah of Saudi Arabia 553 million acres
King Bhumibol of Thailand 126 million acres
King Mohammed IV of Morocco 113 million acres
Sultan Quaboos of Oman 76 million acres



Page last changed: 27th February 2007 @ 2:55 pm

[evox] 01/4/2009 15:10

Oh dear. Those recent substantial short positions don't seem to be working out too well. What a shame. I'll get my violin.

[evox] 24/3/2009 19:40

Oriel Securities analyst Thomas Dorner said Lloyd's results were broadly as expected and that U.K.-listed Lloyd's insurers are "still a good place to be."

"The Lloyd's insurers continue to command a great deal of interest from investors because they offer defensive qualities as well as an improving operating outlook due to increasing premium rates. In the current market we believe this puts the sector at a relative advantage to most other industries," Dorner said.

Dorner said he has a buy rating on Catlin Group Ltd (CGL.LN) and Brit Insurance Holdings PLC (BRE.LN), and hold ratings for Amlin PLC (AML.LN) and Hiscox Ltd. (HSX.LN).

[evox] 09/3/2009 08:47

Yes. A profit, healthy dividend, good ROI and a good strategy. That'll do me!

[topvest] 09/3/2009 07:57

Solid results today. 15p dividend for the year. This company looks to be in a good position to benefit going forwards from the weakness of others.

[topvest] 08/3/2009 18:35

Agreed. That's good news in my opinion. Acquisitions in the financial sector are best avoided at the moment. Best to concentrate on running your own business well. This looks an absolute bargain.

[evox] 08/3/2009 13:33

Sources said the company has approached investors about a possible rights issue or placing to raise around £150m at 120p to 150p a share.
A presentation about the capital raising is understood to have been sent to some investors.
Market practitioners believe Brit Insurance – down 6½ to 171½p – has been looking to raise fresh funds to finance a possible
part-cash, part-paper bid for rival Chaucer, which is up for sale.
Traders said bids for Chaucer – down 2¼ to 39¾p – are due in the next week. It is believed those parties interested in acquiring Chaucer have almost completed due diligence.
However, people close to the situation said late last night that Brit Insurance's board had this week decided not to carry out the fund-raising.
A source said: "The board considered a fund-raising, but believe it is now not in the best interest of shareholders."

Should soar tomorrow on results if no fundraising, based on Feb statement.
No advice intended.

[makingheaps] 10/2/2009 18:18

Very positive trading statement today, dealt deliberately in detail with the exposure to the financial sector which is said to be the cloud under which BRE has been for a while. Hopefully on the back of good press coverage and broker recommendations we will now see a rturn to the £3 level