Looks very good - think we just need all the brokers and analysts to digest the numbers and update forecasts, and perhaps a few positive write ups in the press, and can then power through 500p and beyond. Wait - this is the UK equity market, so probably not. |
Slightly surprised by the extent of the sell off from the days highs. |
That is quite some combined ratio, though I note the real one is 81.9% rather than the headline 72.1. A reminder I need to revise my priors on what a good result for an insurer actually is in a normal interest rate environment. |
Good results? |
2 days before the annual results update |
Pickdd up a few shares here inpressed with investors meets interview in November |
Frustrating I agree but if the team keep on delivering as they appear to have done to date, then the market will wake up to this one eventually Riverman.
And if it doesn't, someone will take it out or, perhaps more likely, management will look to sell up. They are heavily incentivised by TSR and if the market doesn't get them to the relevant hurdles on its own, then I've no doubt they will try to engineer a sale at a price that does. And that would mean substantial upside from here...
Detail on incentive plan is here at page 42/3 in case of interest: hxxps://conduitreinsurance.com/media/yiepe1dt/conduit-holdings-limited-registration-document.pdf |
26.01.24 RBC raises Conduit Holdings price target to 575 (550) pence - 'outperform'
29.01.24 Berenberg raises Conduit Holdings price target to 635 (620) pence - 'buy' |
And again - this should be up at least 10% on the back of the last couple of updates. |
Strong trading update the other day but not even a flicker of interest from markets or indeed anywhere else. Not sure what it will take to inject some life into this share. Thankfully they at least pay a dividend so it's not completely dead money. |
CRE is one of Shares Magazine 10 stocks for 2024. For those with no access here is a short snippet .... To give some impression of how fast the company is growing, it wrote more than $900 million worth of premiums in the first nine months of this year, an increase of 56% on this time last year, and since inception it has written $2 billion with what is called 'unearned premium' of $676 million which is yet to f low through to profits. This means in less than three years the firm has almost hit its five-year target already, Carvey tells Shares. |
Conduit Re’s Eckert: Pure Play Means Not Competing With Clients
Sticking with reinsuring—and not writing direct business—also simplifies operations and exposure management, said Neil Eckert, executive chairman, Conduit Re. Eckert spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
Sept. 11, 2023
Link : |
14 Aug, 2023
Insurers forging ahead on climate as anti-ESG forces grow – Conduit Re chair
The insurance industry's environmental efforts are continuing unabated even with an uptick in anti-environmental, social and governance sentiments.
The push to address climate change and manage the risk of transitioning to a low carbon economy "has never been stronger than it is today in the insurance market," Neil Eckert, executive chairman of Bermuda-based reinsurance group Conduit Holdings Ltd., said in an interview ... etc
Link : |
Bermuda corporation tax rate could be between 9% and 15%
Bermuda is considering imposing a corporate income tax rate on multinationals of between nine and 15 percent, according to a consultation paper released 8th August 2023.
Approximately 2,000 of the 16,000 international companies registered in Bermuda could meet the standard of having revenue of more than 750 million euros or $825 million along with the other requirements of the global minimum tax regime, according to a report in The Royal Gazette newspaper ... etc
Link : |
Doubt it. This stock is a buy from the 5 analysts covering it, and has a forecast annual eps growth of 130%+ The markets are very weak at the moment across all sectors, especially for juniors. |
Looks like the two Directors buying shares have a basic remuneration package of just over £4M between them so I don't think a couple of £100k's worth of share buying is a big deal, more like a token show of confidence...especially as every news bulletin seems to show the rest of the world on fire.
Also plenty of commentary in the natural disaster section of the AR regarding Earthquake and Offshore Wind damage and the briefest mention of Wildfires: maybe they've been caught out? |
Thanks Alan - good point |
Sleepy - if Conduit had been badly hit by Hawaii, would the directors be buying shares? |
Post 39 ... edited to make it more clear |
Who has been badly hit by Hawaii? What effect has it had on Conduit? |
Flagon - I believe your numbers refer to the share price/book value ratios rather than the book values |
According to Yahoo finance price/book (mrq) values of UK listed peers are ...
Conduit Re : CRE : 1.05
Beazley : BEZ : 1.78
Lancashire : LRE : 1.20
Hiscox : HSX : 1.60
Link : |
Director buying is relentless here. Bodes well. |
Long term chart has a potential cup and handle forming, looking good |
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