Esure Share Discussion Threads

[masurenguy] 11/3/2014 09:55

"6. The annualised pro forma payout ratio has been grossed up to reflect the fact the Group has not been Listed for a full year and as such the dividend pence per share represents 5/6ths of the full year dividend that would have been paid had the Group been Listed for the full year."

[bikeaholic] 11/3/2014 09:43

Masurenguy....I read that as 5/6th of the annual divi. will be paid out unless its meant to read 15.8p represents 5/6th. of the annual divi.

[renew] 11/3/2014 09:31

Dr
The other side of the coin is that the cycle cant be far off its low, no exposure to Europe and reasonably inflation proof. If they only add a couple of percent of the divi per year from this level it will do me.

[dr biotech] 11/3/2014 09:24

I guess the revenues are fairly flat, and whilst its a high yield paying 85% of profits may not be sustainable longer term. I am happy to hold though.

[masurenguy] 11/3/2014 09:24

Bikeaholic - 352: = 4.88%

What is that ? Actual dividend of 15.8p = equal 5.9% and notional yield for a full year = 6.8%

[skinny] 11/3/2014 08:24

renew - from further down the RNS.

6. The annualised pro forma payout ratio has been grossed up to reflect the fact the Group has not been Listed for a full year and as such the dividend pence per share represents 5/6ths of the full year dividend that would have been paid had the Group been Listed for the full year.

[masurenguy] 11/3/2014 08:21

Both surprised and delighted to be able to top up @270p this morning !

[kendo10] 11/3/2014 08:16

£50,000 order at 268 around 8.02, hopefully we will see a steady rise from now on.

[nurdin] 11/3/2014 08:04

Had some myself :o)

Why the mark down though ?

[masurenguy] 11/3/2014 07:51

Yes renew - well actually it's technically 18.3p or 6.65% on that basis but who needs to split hairs. :-)
It looks like I got my timing right here, having reinvested part of the proceeds from another share sale
last week into ESUR for the first time @ 270.2p yesterday !

[dr biotech] 11/3/2014 07:45

That payout is a lot higher than I was expecting. They said that the divi would be paid 33/66 ration interim/final and I was expecting 15p full year pro rata having missed a couple of months before the IPO.

Hopefully get a positive start this morning. COR looks very good.

[renew] 11/3/2014 07:38

Masurenguy
Your yield isnt based on a full year!
Over 7 on pro rata.

[masurenguy] 11/3/2014 07:33

Good results with an excellent yield of 5.8% on last nights closing price.

RNS Number : 9649B
esure Group plc
11 March 2014

esure Group plc preliminary results for the year ended 31 December 2013

Strong, resilient financial performance delivered in 2013 despite challenging market conditions.

Financial highlights

· Gross written premiums up 4.0% to £535.8m (2012: £515.0m)

· In-force policies up 9.9% to 1.933 million (2012: 1.759 million)

· Profit before tax up 2.5% to £118.4m (2012:£115.5m)

· Combined operating ratio1 improved by 3.1ppts to 89.7% (2012: 92.8%)

· Additional Services Revenue ("ASR")2 broadly flat at £103.9m (2012: £104.1m)

- ASR excluding Claims Income2 up 7.9% to £95.7m (2012: £88.7m)

· Pro forma earnings per share up 5.8% to 22.4 pence (2012: 21.1 pence)

· Final dividend of 13.3 pence per share (FY 2012: nil). Full year dividend of 15.8 pence per share (2012: nil) represents an annualised pro forma payout ratio of 85%6

· Return on capital employed4 of 37.7% (2012: 37.0%)

· Strong financial position with IGD5 coverage of 308%, after the final dividend

Peter Wood, Chairman of esure Group plc, commented: "Our financial performance in our first year as a listed company is a testament to the Group's resilience, adaptability and the quality of the management team. We held firm to disciplined underwriting throughout the year and capitalised on some market opportunities. I am pleased to announce the Board has proposed a final dividend of 13.3 pence per share, which together with the interim dividend of 2.5 pence per share, represents an annualised pro forma payout ratio of 85%."

Stuart Vann, Chief Executive Officer of esure Group plc, commented: "2013 was a year of strong, resilient financial performance within tough market conditions. The Group has delivered premiums, customer numbers and earnings per share that are all up on the prior year. This performance has been underpinned by our disciplined underwriting, reserve strength and efficient expense base. The Group is financially strong and continues to hold robust reserves in excess of 15% above the actuarial best estimate. We believe this prudent approach can be a significant differentiator over time given the prevailing market conditions. In Motor, I believe our Sheilas' Wheels brand continues to deliver unique advantages to the Group as does our decision to re-enter segments of the market that we had exited during the personal injury crisis. In Home, performance has been strong, reflecting the benefits of precise risk selection and pricing mirroring those in Motor. Operationally, we work hard to support our competitive advantages. By remaining nimble, focused and adaptable we will rise to meet market challenges to the benefit of customers, staff and shareholders alike."

[renew] 11/3/2014 07:30

So was I.

Excellent performance and generally prudently run company.
Costs of the recent weather shouldnt have much impact on next years results.
Happy with the divi.
Would hope to see these at 350p later in year.

[dr biotech] 10/3/2014 21:47

I am talking the final rather than the total. Just for the avoidance of doubt

[renew] 10/3/2014 20:34

Divi under 12p will be a disaster for the share price.

[dr biotech] 10/3/2014 16:18

Admiral, DLG and Aviva were good. RSA was awful. AV is a bit different as they have a lot to prove in restructuring. I think though that a decent set of figures will have only a modest outcome as the expectations are reasonably high. Decent dividend of 10p or so would be nice, as would some healthy growth.

[grevis] 10/3/2014 14:58

If they are inline with expectations, what will that do for the share price I wonder?

[masurenguy] 10/3/2014 11:36

Full year results due tomorrow.

[bikeaholic] 07/3/2014 12:56

This is good enough for day-trading.

[dr biotech] 05/3/2014 12:31

Decent set of results from Admiral today, may explain the rise.

[dlku] 04/3/2014 23:55

needs a nice profit warning here to get this to 200p

CEO likely to dump some as lock in expires?

[gutterhead] 04/3/2014 23:07

Divorce 240p fancy 340p Adore 440p love 540p worship 640p idolise 740p get locked up for stalking 840p