Esure Share Discussion Threads

[masurenguy] 17/9/2017 12:39

Whatever price it was at anytime over the past 12 months - ranging from 200p to 300p - is largely irrelevant. Any bid premium will be calculated at the shareprice on the date that it was actually made.

[nicbw01] 17/9/2017 11:32

It was £3 about 3 months ago so to me £3 isn't a premium. Even £3.25 would seem low. Will be interesting as u say to see what shares do in the morning.

[masurenguy] 17/9/2017 11:15

I think it largely depends upon who the successful predator is. A US, or even possibly an Asian/ME, financial services company wanting to move into the UK may be prepared to pay a premium to acquire Esure particularly if there are rival bidders. However, a UK or European operator who sees synergy with Esure is more likely to have a limit upon what they will pay.

The headline in the article reflects the valuation at the current shareprice. However, I would guess that a takeout price from an overseas bidder might be in the 300p - 325p range, valuing the company at £1250m - £1375m, but again it might be higher if a real bidding war breaks out. It will be interesting to see what impact this has on the shareprice tomorrow and that may provide some indicators on a takeout price expected by the market.

[nicbw01] 17/9/2017 09:24

What would be the expected premium for take out £3.50 - £3.80 or is that too high.

[nicbw01] 13/9/2017 14:02

What's going here. I thought this was going to be taken over

[soundbuy] 13/9/2017 08:22

Hmmmm......broker downgrade I'm guessing

[r ball] 05/8/2017 21:45

Lv= read across. I.e. More competition?

[nicbw01] 03/8/2017 19:41

Walked down for buyer. Definitely look like a takeover candidate...

[saltaire111] 03/8/2017 19:23

Bizarre response from the market. What didn't it like?

Results looks stunning to me.

Salty

[deadly] 03/8/2017 17:19

Results obviously below expectations!

[soundbuy] 03/8/2017 09:40

Mention in FT AV 2 or 3 weeks back that eSure has been weighing up whether to remain independent.....rumoured of course....

[r ball] 03/8/2017 09:35

PW would be receptive.

[masurenguy] 03/8/2017 09:16

I wonder how long it will be before Esure is the target of an external bid from within the sector !

[masurenguy] 03/8/2017 08:10

Outstanding interims !

Highlights

An excellent first half with growth in premiums, policies and profits

-- Gross written premiums up 22.8% to £393.3m (1H 2016: £320.4m)
-- In-force policies up 8.8% to 2.258m (1H 2016: 2.076m)
-- Profit before tax from continuing operations up 44.6% to £45.1m (1H 2016: £31.2m)
-- Combined operating ratio improved 2.6ppts to 96.6% (1H 2016: 99.2%)
-- Interim dividend of 4.1p per share (1H 2016: 3.0p per share) inclusive of a 20% special dividend
-- Solvency coverage(1) at 153% (FY 2016: 152%)

Sir Peter Wood, Chairman, said: "esure has performed very well in the first half of the year as the Management team continues to drive the Group's profitable growth strategy. Our solid capital position has led the Board to declare an interim dividend of 4.1 pence per share, which includes a special dividend, at the same time as allowing esure to retain sufficient capital and flexibility to continue to pursue our profitable growth ambitions."

Stuart Vann, Chief Executive Officer, said: "I am delighted with our performance in the first half of 2017. We have delivered strong growth in premiums, policies and profits as the success and momentum of our footprint expansion programme and disciplined underwriting continues to drive the business forward. In Motor, we are growing across all our customer segments, demonstrating the value and service proposition we offer to customers. I am really pleased with the outcome of our reinsurance renewal on 1 July which is testament to our focused underwriting approach and strong relationships with our reinsurance panel. As indicated earlier in the year, we have increased prices in the first half of the year which mitigate this increased cost to the business, whilst continuing to grow. Overall, it has been a great start to 2017, and we are firmly on track to deliver results at the positive end of our 2017 guidance."

[r ball] 03/8/2017 07:25

Also read across for Lv=

[saltaire111] 03/8/2017 07:23

Stocking results?

Superb performance, well ahead of expectation.

Salty

[masurenguy] 02/8/2017 06:33

Direct Line Group.

[nicbw01] 02/8/2017 00:22

R ball. What do u mean Dlg.

[r ball] 01/8/2017 23:56

Dlg read across?

[soundbuy] 01/8/2017 16:56

Nothing much - (AA. pre-close statement today - insurance side)

HY results Thursday........

[nicbw01] 01/8/2017 16:41

Soundbuy - what do u mean no AA.. Read across.

[soundbuy] 01/8/2017 16:37

Odd price action...........on volume.......no AA. read across?