Jardine Lloyd Thompson Share Discussion Threads

[lilwood] 25/7/2003 13:19

There seems to be a lot of selling ahead of their results. Can't find any info on whether they expect them to be good or bad! I hope it'll be good news, I bought some more this morning.

[honiton] 23/7/2003 11:03

Any views on this one. Reporting Monday.

[gnash] 25/4/2003 08:42

Anyone following this share ? It's not a fast mover , but it's starting to creep steadily up . It's gone thro' the 20 and 50 day MAs . the chart looks promising and the fundamentals are very good . It's in the Financials sector , which tends to lead the rally.

[wensley2] 04/4/2003 08:41

Does this stock ever trade ???

[dil] 14/3/2003 14:05

Yeah , thats how the directors saw it too going by they way they were slinging them last week.

[magic] 14/3/2003 03:28

One of very few shares which didn't bounce on the big pullback yesterday.
Seems very little between present level and 400.

[dr darkstar] 12/3/2003 23:13

short from 618 and looking for 300 longer term

[dil] 12/3/2003 22:03

Looks to me as though the price has been supported over the last week by the JLT pension fund purchase of 1,350,000 while in the mean time the directors have been excersing options over 100's of thousands at 100p and chucking them asap !!!

Shows where its heading then , stuff the workforce .. I'm allright Jack !

[theape] 11/3/2003 21:21

short jedi.

[harleymaxwell] 11/3/2003 17:30

any views on the fastfall?? further to go maybe but also touted as ftse 100 potential???

[tricky] 25/2/2003 17:27

the ape, I am no insurance expert, but I don't think jlt has this sort of exposure. Surely it is just a broker and earns fees from clients and insurers. It does not actually take on any risk.
Indeed jlt would argue that it is these conditions that it thrives in because of it's advisory experience. I think it is actually quite a good company, I just believe it is overvalued, it has some dodgy accounting issues, it's pricing power is at the top of it's cycle and it's headway in the states has stalled. Enough for me to be short!

[theape] 25/2/2003 16:01

oops I spoke too soon.

10:56AM Annuity & Life RE loses more than half its value (ANR) by Michael Baron
Annuity & Life RE (ANR) is plunging more than 56 percent to $1.24 in morning trades. After Monday's closing bell, the Bermuda-based reinsurance firm unleashed a number of negative news developments. The company forecast "significant losses" for the fourth quarter and year ended Dec. 31 due to "continuing adverse mortality" and an increase in reserves related to its life reinsurance business. The reserves were boosted in response to the receipt of a large number of open claim submissions that did not fit historical or expected patterns. The company also said that it has ceased writing new business, that it will not pay a dividend for the first quarter, and that it has terminated a number of its contracts. Annuity & Life RE was also unable to meet collateral requirements under various reinsurance treaties as of Dec. 31.

[theape] 24/2/2003 17:13

the murkiness in insurance comes from several areas.

a) they have been underpricing risks for years ( so large balance sheet write downs are required at some point.
b) disclosure ( especially in re-insuers and in the US has been less than clean)
c) some of the re-insurance market is offshore or swiss or captive companies, with less than adequate disclosure that their capital position can cover the risks.

hence insurance sector is dodgy as hell, and an accident is waiting to happen in the sector.

[tricky] 24/2/2003 11:54

Great looking results today, but I note that the company say that "03 has not seen the same level of rate increases as in 02" and "current pricing is at or near it's peak". They say that after the peak prices usually fall dramatically, but that it will be different this time and there will be not easing of premiums! My main concerns get worse, pension deficit increased from £50m to £87m in the year and had frs17 been in practise today, the p+l would have dropped by £15m in the year. Thay have huge intangibles , and even bought more goodwill during the year.
Having said all that the share is up 40 since I first mentioned it, today it's bang on it's 50day ma, the market seems to like them. I don't know what to do, so I'm doing nowt yet!

[errol6429] 08/2/2003 00:10

Why is it short of the year ?

[matthewa] 08/2/2003 00:06

Covered JLT short for a few Will reshort when theve finished squerezing. Reckon this coudl be short of the year

[tricky] 07/2/2003 11:20

theape, care to elaborate?

[theape] 07/2/2003 01:06

I think there is something murky in reinsurance.

[matthewa] 06/2/2003 08:29

tricky - Looks Dodgy as hell good call.

[tricky] 05/2/2003 15:51

Just had a gander at this.
At the end of 2001 their pension deficit was a cool £42.1 million, when they have to use frs17 their net assets will reduce from £122m to £80m and the p&l reserve from £93m to £51m. At the end of 2001 the ftse was around 5200, so I would guess this deficit has increased.
According to posts above they have hedged nearly all the dollar exposure, but at what cost?
They even say in the accounts that "the amortisation of purchased goodwill.....has had in increasingly significant impact on published earnings"
A p/e of around 20 doesn't leave much room for error and I reckon they are breaking down through 600.
What do you think chaps, am I right or wrong?

[theape] 09/1/2003 01:03

what do they do ??

:))

[aquila] 06/12/2002 12:00

M.T.Glass - nice when it happens!