Hardy Underwriting Share Discussion Threads

[gardenboy] 16/7/2003 18:14

rambutan2,

make anything of this?

Hardy Underwriting Group plc
Appointment of Adviser


Hardy Underwriting Group plc, the specialist insurer, announces that with
immediate effect, Redleaf Communications has been appointed as its financial
public relations advisers.

[gardenboy] 01/7/2003 21:11

'We remain confident of the continuing positive outlook for the underwriting market in 2003 and beyond'

- everything OK then!

[rambutan2] 01/7/2003 14:09

in at the right price yet again gdb! - you beat the director to it.
i reckon they put out the atrium comment just to remind folks what theyve got on their balance sheet and the bargain price they paid for it. remember, it only valued at 95p approx in the accounts.
and from today...
HARDY UNDERWRITING GROUP PLC

Increased underwriting capacity for syndicate 382 in 2004

In view of continued favourable underwriting conditions and opportunities
resulting from the recruitment of additional underwriters, syndicate 382,
managed by Hardy Underwriting Group plc, through its subsidiary, Hardy
(Underwriting Agencies) Limited, proposes to increase its underwriting capacity
from £100m for the 2003 underwriting year to £115m for 2004. The increase will
not have a material effect on the balance or composition of the syndicate's
business.
As part of the new arrangements implemented by Lloyd's centrally, the increase is subject to confirmation from the Lloyd's Franchise Board.
Hardy Underwriting Group plc owns 80.4% of the capacity of syndicate 382 and the effect of this pre-emption will therefore be to increase the group's own underwriting capacity from £80.4m to approximately £92.5m.
Commenting on the increased capacity, Barbara Merry, Chief Executive of Hardy Underwriting Group, said:
'We remain confident of the continuing positive outlook for the underwriting market in 2003 and beyond. We have accordingly strengthened our underwriting team, which has enabled us to increase capacity for the 2004 year of account. The increase in the Group's own underwriting to approximately £92.5m will further our stated intention to create a more substantial business for investors in Hardy Underwriting'.

[gardenboy] 01/7/2003 00:39

rb2,

did buy a few of these at the beginning of last week as I thought they looked oversold considering that they have one of the best track records in the sector.

------------------------------

RNS Number:9453M
Hardy Underwriting Group PLC
30 June 2003



Hardy Underwriting Group plc ("Hardy") acquired a 23.6% stake in Atrium
Underwriting plc ("Atrium") during the last quarter of 2002 at a price of 75p
per share.

Following recent movements in the Atrium share price Hardy wishes to clarify its
position with regard to its holding in Atrium and confirms that it has no
present intention of making a bid.



and later today,

RNS Number:9773M
Hardy Underwriting Group PLC
30 June 2003


HARDY UNDERWRITING GROUP PLC
30th JUNE 2003

DIRECTORS' SHAREHOLDINGS

Mr Ian Ivory has today acquired 30,000 shares of 220p each in the company

[rambutan2] 23/6/2003 11:53

ive been watching due to the atrium stake (25%) which im not sure that the mkt is valuing properly. auw now has a bigger mkt cap than hdu and imho could easily climb to 250p within the year. while hdu does possess the best combined ratio in the sector and could have plenty to go within the same time span. so, it offers a double whammy of growth compared to very nearly all the other ilvs which have a fairly dismal investment record. or am i missing something?

[azalea] 22/6/2003 16:57

Although I do not hold, I too have watched them for a long time. The recent decline is somewhat puzzling in what is seen as a strong Lloyds insurance market. Added to that is the last IC statement at approx 220p they were good value/further to go. Without going into my data bank I believe that Hardy has a significant stake (18%?) in Atrium - its share price is climbing significantly. Who knows, perhaps Hardy is considering a bid - which could account for the fall?

[rambutan2] 22/6/2003 16:19

any views on the recent decline?

[mr ashley james] 09/12/2002 01:10

Tinker,

Apparently Investors Chronicle have tipped HDU.

Cheers

Ash

[mr ashley james] 29/11/2002 00:45

Tinker,

Hardy are a really nice tight operation, I am very impressed with them.

I think you will do well with this one.

Best regards

Ashley

[tinker] 26/11/2002 11:15

Now broken through the 190 barrier, at year high. No-one interested ???

[tinker] 26/11/2002 11:13

Now broken through the 190 barrier and looks like staying there.

[mr ashley james] 08/11/2002 18:15

Rambutan,

Perhaps.

Anyway have a good weekend

Cheers

Ashley

[rambutan2] 08/11/2002 17:39

Cant help wondering whether all that director buying in sept was because they perhaps had an inkling of what might be happening later in the year. Note that the chairman is on the board of Murray Int and so sort of on the inside at Aberdeen... Just a thought.

[mr ashley james] 08/11/2002 16:23

Rambutan,

HDU buying more of AUW so far HDU up 6p, AUW up 3.50p

[rambutan2] 07/11/2002 14:07

It was the London Mkt Fund getting rid of their holding. See my recent posts on the GOS thread re them.
Also, note that Murray Int investment trust (also Aberdeen) hold a near 20% stake in Atrium.

[rambutan2] 07/11/2002 13:48

interesting...

[mr ashley james] 06/11/2002 10:16

Pyman,

HDU starting up again this morning.

Cheers

Ash

[pyman] 31/10/2002 17:41

why are they using cash to buy stake in Atrium rather than write their own business-is it that Atrium cheap as chips or are they thinking of getting bigger by aquisition,i.e stake prelude to takeover?

[charlie] 28/10/2002 02:09

Hardy Underwriting

Hardy Underwriting, the Lloyd's of London insurer, suffers from being a small company with a relatively low profile. But the specialist insurer runs one of the highest-rated syndicates, with an average annual return of 26 per cent.

Hardy managed to reduce its combined ratio - a key measure of efficiency - to 91.2 per cent, making it one of the more efficient operators in the Lloyd's market.

The surge in rates has led the insurer to double its aviation insurance book, while the market for helicopter insurance, where Hardy is a leader, is also rising strongly. Hardy has taken advantage by raising £25m in new capital. The company's marine insurance book also looks in good shape.

The shares (183.5p) are well above the 12-month low of 113p. But given the extra capacity, which will allow it to write £100m in premiums next year, and the robust insurance market, the shares should have further to go.

[charlie] 28/10/2002 02:09

duplicate post

[bluemerle] 30/9/2002 09:17

Nobody has recognised the potential here yet!!


LONDON (AFX) - Hardy Underwriting Group PLC six months to June 30 2002
Gross premiums written - 28.23 mln stg vs 17.92 mln
Pretax profit - 1.85 mln stg vs 913,000
Operating profit - 2.74 mln stg vs 1.45 mln
EPS - 5.9 pence vs 1.4

[mr ashley james] 17/9/2002 11:45

Alf,

Up 6% or 11p

[alfwilson] 13/8/2002 19:00

Ash

Thanks for your input.

As a holder of HDU ... I very much hope you are right. My calculations based upon forecast increase in eps and tempered by prevailing market conditions suggest that it might be prudent to assume a PE nearer 10 at this time. I am in for the longer term so I look forward to the time they are rated 20. In any event there does not seem like much danger of significant downside.

[mr ashley james] 12/8/2002 20:34

Alf,

NUMIS were saying 190p as of 24.06.2002

Personally based on EPS forecasts and assuming a PER of 20, I would suggest on 2002 EPS est of 18.20p, and 2003 of 26.50p, I personally think HDU is worth up to 364p 2003, 530p 2004, it depends on market sentiment for ILVs I suppose.

All IMHO, NAG, DYOR etc, etc

Cheers

Ash