Hardy Underwriting Share Discussion Threads

[skyracer] 29/8/2008 08:48

These are good results in "challenging market conditions". Hardy now have no exposure to equities being in fixed income securities or cash, so we can expect a continued positive return from their investments. Tangible NAV now at 213p makes Hardy well undervalued. KIN and HUA have gone. HWY is going. HDU and NVA look obvious targets.

[skyracer] 08/2/2008 13:56

This seems good value. Inline earnings to come. Low PE. Good yield. Prospects of cash return. Potential target in a sector full of bid fever ie KIN, HUA, NVA and OIH.

[skyracer] 12/9/2007 08:19

60% increase in earnings. 08:19 am. Not a flicker of response.

[alansmith23] 31/8/2007 11:28

tipped in the IC this morning

[dumpling] 23/8/2007 14:52

I would take it to mean that total premiums received is 11 to 16 % more than pay outs. If I am wrong I shall be happy for someone to put me right.

[schober] 21/8/2007 20:23

can some knowledgable person explain what this means please? (from the trading update)
.......Syndicate 382 forecast results
The 2005 year of account continues to improve and the profit at closure is now
expected to be in the range 11% to 16% (previously 7.5% to 12.5 %).
In accordance with Lloyd's requirements, the 2006 year of account is subject to
a formal published forecast for the first time. Taking into account unexpired
exposures and our prudent reserving approach at this early stage, the profit for
the year is estimated to be in the range 11% to 16%............

[dumpling] 20/8/2007 13:45

Good rise today. Further rerating?

[dumpling] 14/8/2007 19:25

Only gainer in my portfolio today.

[dumpling] 13/8/2007 21:28

Share price barely affected by latest shake out - remarkasble for a financial share.

[dumpling] 13/5/2007 14:38

Est EPS 2007 is 31.7P plus Talbot being bought by Bermuda -based company leads me to believe that there is plenty of mileage left in this share.

[prinnytoo] 17/1/2007 06:29

Dividend rise with 10% increase per annum going forward.

Still solid!!!

[prinnytoo] 10/11/2006 06:51

Even more so, I cannot see the reason for the rise other than

F&C Inst Inv Funds ICVC 1,150,000 3.24 Chase Nominees Limited
Inst UK Smaller Co Fund

[prinnytoo] 07/11/2006 08:16

Solid as ever!!

[prinnytoo] 20/9/2006 07:07

Interim Results for the half year ended 30 June 2006


Hardy Underwriting Group plc, the specialist insurer, today announced its
interim results for the half year ended 30 June 2006. The highlights of which
are:

* Gross written premium of #58.35m (2005: #65.58m);

* Profit before tax f he half year above market expectations of
#6.1m as compared to the 2005 half year PBT of #7.7m;

* Basic earnings per share are 11.8p (2005: 15.4p);

* Net tangible assets per share are 166p per share (2005: 164p);

* The combined ratio is 84.4% (2005: 82.7%) excluding foreign
exchange losses is 81.6%.


Commenting on the interim results, Barbara Merry, Chief Executive of Hardy,
said:


"The profit before tax is ahead of market expectations at #6.1m. Each of the
underwriting years has continued to progress satisfactorily. We have been busy
in 2006 with our corporate activities and are now primed to take the business
forward, enhancing income and profits considerably over the next few years and
improving the return on equity dramatically if underwriting conditions permit

[saucepan] 30/8/2006 21:35

Thanks Moogies: that may simply be the explanation - analysts taking their time to digest, etc. As that news came out yesterday, and there was little reaction yesterday, I sensed there may be even more going on behind the scenes today, which someone has got wind of. Perhaps all will come out in the wash.

[moogies] 30/8/2006 19:30

As mooted in the IC tip it looks like Hardy are buying "the 9 per cent of the capacity of its Lloyds' syndicate that it doesn't already own so its shareholders - not Names - should shortly be the sole beneficiaries of those growing underwriting profits." IC 11/08/06


M.




Hardy Underwriting Group PLC
29 August 2006




Date: 29 August 2006

On behalf of: Hardy Underwriting Group plc ('Hardy')

Embargoed until: 0700 hrs


HARDY UNDERWRITING GROUP PLC

CAPACITY OFFER



Hardy Underwriting Group plc (Hardy), has today announced that Hardy
Underwriting Ltd ("HUL"), its wholly owned subsidiary, has applied to the
Council of Lloyd's for consent to make a minority buy-out the third party
capacity currently remaining on Syndicate 382.


On 28th July 2006, HUL made an offer to the third party capital providers, which
at the close of the offer at 4-00 on Friday 25th August had been accepted by
74.6%, by capacity, of those capital providers.


There is now a period of 21 days in which non-accepting members may make
representations to Lloyd's, following which a Lloyd's committee will meet to
consider the application. A further announcement will be made as soon as the
result of that meeting is known.



Enquiries to:


Hardy Underwriting Group plc Tel: [phone]

Jamie MacDiarmid, Finance Director


Redleaf Communications Tel: [phone]

Emma Kane/Andrew Dunn


Notes to Editors:


• Hardy Underwriting Group plc is a specialist insurer operating within
Lloyd's of London. It manages and participates in syndicate 382, a
syndicate with an unparalleled record of profitability over more than 25
years.


• Syndicate 382 underwrites across most of the major classes of commercial
insurance business except motor and liability sectors.


• Further information can be found on the Company's website:
www.hardygroup.co.uk






This information is provided by RNS
The company news service from the London Stock Exchange

[saucepan] 30/8/2006 16:26

Nice 52-week high on this. Anyone know what is driving today's action? Bid talk? (Went long a couple of weeks ago myself, on IC tip).

[charlie] 09/8/2006 16:58

Also not clear from the announcements where up to £75m is coming from. Is it external capital or can we expect Hardy fundraisings?

[charlie] 09/8/2006 16:57

Any views on the forthcoming appointment of Patrick Gage (currently syndicate 1301, Chaucer) to write a non-marine book capacity up to £75m at Hardy?

Syndicate 382 is only £110m capacity so this seems to represent a major development?

It makes me worry a bit about maintenance of the Hardy culture.

Anyone know anything about syndicate 1301's record?

[danny murphy] 28/7/2006 17:32

Ouch, why the 12p drop today to 196.5p????

[miguel] 14/6/2006 10:47

AGM stated dividends to be paid to those holding shares on 16 June. Why would this have gone XD today?

[danny murphy] 27/5/2006 15:48

Final 8.25p goes ex 14 June and is payable on 6 July.