Share Name Share Symbol Market Type Share ISIN Share Description
Catco Reins. LSE:CAT London Ordinary Share BMG1961Q2095 ORD USD0.00013716 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +$0.00 +0.00% $1.04 $1.02 $1.06 $1.06 $1.04 $1.04 51,614 11:00:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 33.9 0.0 - 407.33

Catco Reins. Share Discussion Threads

Showing 1201 to 1225 of 1225 messages
Chat Pages: 49  48  47  46  45  44  43  42  41  40  39  38  Older
DateSubjectAuthorDiscuss
18/10/2017
18:57
riverman - oopps, thanks. I was away a couple of days and obviously missed some stuff.
jonwig
18/10/2017
18:20
I think some of the other reinsurers have held up better though, Lancashire is my preferred name in this space
riverman77
18/10/2017
18:17
I think CAT already announced yesterday and marked the nav down a further 14% in September, following 6% in August, so 20% in total.
riverman77
18/10/2017
17:32
BCAI have declared an send-Sept nav of $0.8227, a 26% drop on August. CAT should be announcing within a day or two. Anything comparable would be a shock!
jonwig
04/10/2017
14:19
the special general meeting just passed the following motion (89% in favour): "Special General Meeting Your Board believes that it is important for the Company to take advantage of market opportunities and be able to raise additional capital, should there be an appropriate level of demand from both reinsurance buyers and potential new and existing investors. Following a recent change to the UK Prospectus Rules that enhances the ability of the Company to raise further capital without publishing a prospectus, the Company is seeking Shareholder approval at a Special General Meeting ("SGM") to permit it to issue further Ordinary Shares, up to a maximum of 20 per cent of the number of shares in issue at the date of the SGM, on a non-pre-emptive basis. The Company will continue to maintain its policy of only ever issuing shares at a premium to the prevailing NAV. Further information appears in the section "Capital Raising - Special General Meeting" in the Directors' Report, below. "
glawsiain
02/10/2017
06:21
"Requirement for new capital". A change from the usual demand from outside investors! And "the Company currently estimates a NAV return for 2017 of between positive five percent to negative 15 percent." Positive five would be a result! If I've calculated right (Jan 2017 baseline) the worst outcome would be closing NAV of $1.11 and probably a missed dividend. (Clever Mr Market?) https://www.investegate.co.uk/catco-re-ins-opps-fd--cat-/rns/issue-of-equity-and-portfolio-update/201710020700053355S/
jonwig
23/9/2017
08:55
Hi, Shavian! They're still unclear themselves of course. I'm a bit puzzled by their statement that the combined effects could fully erode 2017 returns. Taking the start of the year to be $1.247 xd, returns suggest little more than the dividend value - wrong, surely! There's also the question of how much of their own risk they lay off.
jonwig
23/9/2017
08:03
Hi chaps. Been watching this one since Harvey, having baled out of the Polar Capital Global Insurance OEIC at the first hint if flying coconuts and yachts. Just wondering where the discount is going to finish up once Maria and the earthquake effects have been fully factored in. Not tempted in just yet, although I note some chunky (insti?) buys yesterday.Good to see you here Jonwig!
shavian
22/9/2017
16:36
A bit more news from citywire hTTp://citywire.co.uk/investment-trust-insider/news/disaster-fund-warns-hurricanes-will-wipe-out-2017-returns/a1051859?ref=investment-trust-insider-latest-news-list
jimcar
19/9/2017
11:29
New storms on the horizon. It's an avoid for me for the time being.
stonesfan
18/9/2017
19:06
Yes, all getting costly. At least premiums are going to get a significant hike.
topvest
18/9/2017
06:07
Hiscox estimates insurance market losses of about $25bn from Harvey.
jonwig
13/9/2017
13:27
Yes, possibly! Don't they subtract a monthly attrition of (?) 0.15% of NAV? One way for them would be to increase that to as much as 0.5% and then release it if possible at the year-end contracts expiry.
jonwig
13/9/2017
11:30
Yes the current price seems to reflect the lower end of the losses. I wonder if we will go back to a premium to NAV. I think a lot of people liked the "uncorrelated to the market" idea but taking it as meaning not falling when the market falls, forgetting it can mean falling when the market rises!! If people now see this as being more risky then we could move to a discount. Any views?
jimcar
13/9/2017
10:05
Thanks Jim - but will future returns bump up enough to compensate for the greater risks?
jonwig
12/9/2017
14:31
Talks about CAT later in the article. Numis estimating "losses" of 15 - 25% in total for both hurricanes hTTp://citywire.co.uk/investment-trust-insider/news/blue-capital-suspends-buyback-as-it-rides-out-irma/a1048285?ea=497984&re=49170&utm_source=BulkEmail_Investment+Trust+Insider+Weekly&utm_medium=BulkEmail_Investment+Trust+Insider+Weekly&utm_campaign=BulkEmail_Investment+Trust+Insider+Weekly
jimcar
11/9/2017
11:12
FT 15 mins ago: BOSTON, Sept. 11, 2017 — Catastrophe modeling firm AIR Worldwide estimates industry insured losses in the United States resulting from Hurricane Irma will range from USD 20 billion to USD 40 billion. Note that these estimates are based on the NHC’s Sunday, September 10, 5:00 p.m. EDT forecast advisory for Irma. AIR Worldwide is a Verisk Analytics (Nasdaq:VRSK) business. [Probably announced around 10:50 going by chart.]
jonwig
10/9/2017
15:52
JIM - thanks, helps clear things up a bit! Of course the 'discount to NAV' is purely notional, and historic NAV is pretty useless for the present. End-August NAV will be published in the next week or so and, again, it might not be much use. I read recently on Artemis.bm (see header) that CAT hedges its own worst scenarios, so who knows?
jonwig
10/9/2017
15:15
This seems to agree though adds 2% for Mexico earthquake. hTTp://citywire.co.uk/investment-trust-insider/news/investment-trust-watch-perfect-storm-for-disaster-fund/a1047558?ea=497984&re=49128&utm_source=BulkEmail_Investment+Trust+Insider+Weekly&utm_medium=BulkEmail_Investment+Trust+Insider+Weekly&utm_campaign=BulkEmail_Investment+Trust+Insider+Weekly
jimcar
10/9/2017
14:08
Couple of things: • Jose is expected to move east of the US coastline. Not certain to, of course! • Assuming max 10% of NAV attrition on a single US windstorm event we could be at 20% loss to date - ie. 103p NAV post-event. (If I've read their comments correctly.) Looking at trades data for this stock, there have been decent size buys near the current price.
jonwig
08/9/2017
19:52
Comment on the 29/08 Harvey statement: Http://www.artemis.bm/blog/2017/08/29/markel-catco-sees-minimal-harvey-hit-at-below-10bn-industry-loss/
jonwig
08/9/2017
10:53
Stonesfan - the N. Atlantic hurricane season peaks around now (statistically 10 Sept, I'm told) but goes through to next month. Jose is following Irma, so there's still a queue of events! I'd leave this alone for at least the rest of this month and until there are some actual numbers from CAT. The good news is that rates are likely to harden next year, so a better balance of risk vs. reward. [Been away for a week with no decent net access. Not in the Windies, thankfully!]
jonwig
07/9/2017
10:58
.. and one I'm glad I didn't take.
stonesfan
30/8/2017
09:05
Thanks, Jonwig. Still a gamble then.
stonesfan
30/8/2017
06:05
Citywire: Http://citywire.co.uk/investment-trust-insider/news/hurricane-harvey-hits-shares-in-reinsurance-fund/a1044770?ref=investment-trust-insider-latest-news-list
jonwig
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