Kin Share Discussion Threads

[melody9999] 20/3/2006 08:44

all the bad news priced in now. with the insurance market having to firm, could be a bargain IMHO.........

[spooky] 09/3/2006 16:02

Any industry insiders any views on why the shares have been performing so poorly compared to the likes of Beazley ?

[siskinbird] 28/2/2006 10:06

Hi Pulp
I hope you are right about that overhang - I agree that KIN looks interesting, and has done for some time. I bought at 87p in April '05 and picked up some more in the rights issue, but I must say I'm disappointed in the recent performance of the sp, and the chart is looking dire. I tend to be a longtermer though and I'm confident enough in the numbers, fundamentals etc - but it would be good to see some movement upwards!

[pulpfiction] 23/2/2006 22:48

hi new to this board, i'll add my 2 peneth worth anyway. I think KIN look interesting;

looks as though the share price is being supressed due to a stock overhang. A lot of shares were purchased during the rights issue. These will probably have to be sold back into the market before we see a reversal (see RSA as there rights issue for comparison). Increases in re insurance premiums due to the Katrina should effect share price from FY to interim results.

pulp

[sunsetwarrior] 23/2/2006 14:00

These are becoming a little disappointing.
Anyone got any thoughts and/or news.
SW

[davemake] 27/1/2006 07:40

wy has share price dropped - can't find any news

[siskinbird] 16/1/2006 13:50

Thanks for the new thread sunset - good to have charts!
I agree with you abou the share price - steady as she goes at the moment, and doing nicely.

[sunsetwarrior] 30/12/2005 13:44

Now that the Rights Issue is out of the way this should quickly return to £1+.
Have a great New Year to all holders.
SW

[master rsi] 19/12/2005 16:50

KIN 92 - 92.50p =

A supper take up of the Right issue 95.89 per cent.............

Results of Rights Issue

RNS Number:9091V
Kiln PLC
19 December 2005

Kiln plc ("Kiln" or "the Company")
Results of Rights Issue

Kiln is pleased to announce that the 3 for 7 Rights Issue of 87,413,244 Issue
Shares at 87 pence per share as detailed in the Prospectus and Supplementary
Prospectus to Shareholders dated 2 November 2005 and 5 December 2005
respectively, closed for acceptance at 11:00am on 16 December 2005.

The Company received valid acceptances in respect of 83,823,660 Issue Shares
from Qualifying Shareholders, which represents an aggregate take-up of
approximately 95.89 per cent. This includes 17,570,135 Issue Shares which have
been subscribed for by Berkley Insurance Company, a 20.1 per cent. beneficial
shareholder in the Company...........

[sunsetwarrior] 13/11/2005 12:20

Just thought I'd bring this thread up to date. It's got charts!
BTW very positive movement. Long may it continue.
SW

[siskinbird] 03/11/2005 15:39

From today's Independent:-

"Kiln is a buy as insurers reap hurricane benefit

They were ill winds but they blew the insurance industry a load of good. The devastation wrought by the US hurricane season has been one big advert for insurance, and premiums for catastrophe reinsurance are expected to rise 23 per cent next year, and for oil rig insurance by 46 per cent.
For the second time in as many days, a Lloyd's of London-based insurer announced a rights issue yesterday to allow it to capitalise on the upturn. Kiln is raising £72.8m, which it will use to back new insurance contracts next year. The much bigger Amlin said on Tuesday that it was raising £224m for expansion.

Kiln's fund raising was not without its critics. Only £40m has been specifically earmarked for underwriting purpose s at Lloyd's next year, with the remainder going to provide "flexibility", so it looks opportunistic. Also, in an analysis of the last time the premium cycle turned up, after 11 September 2001, Bridgewell Securities showed yesterday that the insurers who raised most from shareholders have tended to make the worst returns on capital since then. Kiln's additional underwriting will have to be extra profitable to make up the 16 per cent discount to the prevailing share price at which the rights issue has been priced.

No matter, this is the right time to be in insurance shares. Kiln - which we tipped at 86.5p in April and which was 101p yesterday - is a buy, and the rights, at 87p, are very attractive."

[wimbledonblue] 02/11/2005 17:05

Increase the market cap by 43% for a mere 13% discount in the current share price, looks expensive compared to Amlin's rights issue. Plus more to come in the sector!

[siskinbird] 02/11/2005 09:59

Now there's a turn-up - a rights issue! 3 for 7 @ 87p. Market reaction so far appears positive, if somewhat underwhelming. Based on what I've seen so far, I intend to take up this offer. Any views?

[siskinbird] 26/10/2005 11:18

Thanks melody - interesting. 150p sounds very ambitious indeed, but let's hope so! Certainly KIN's stated view in the interims in September was that the current hurricane season would create "a favourable underwriting environment", and time will tell I guess. I hold, having bought at 88p about 6 mnths ago.

[melody9999] 26/10/2005 00:38

SKB - my attention was drawn from the Fleet Street Newsletter, who are very bullish about KIN as a contrarian play, suggesting that re-insurers will harden prices in wake of this active hurricane season. 100p max pic to buy, 150p target in next 3 months (sounds ambitious). Its on my watchlist

[siskinbird] 24/10/2005 15:02

I wonder what is happening here? I was expecting this to fall today on the back of weekend hurricane news! Far too many trades to be just a newspaper tip or similar, so presumably it's a city rumour of some sort...?

[ursus] 24/10/2005 09:24

?? any news or rumours?

[alexandrews] 13/10/2005 15:02

Nice to see the management are using a nice, conservative 1.85 GBP/USD exchange rate in their cost estimates for Katrina and Rita...

Alex

[sunsetwarrior] 02/10/2005 11:15

This will probably slide until the end of the hurricane season. Beginning of Nov. Very good buying opportunity then.

[siskinbird] 13/9/2005 13:28

Apparently not, maestro!

[maestro.] 02/9/2005 20:08

could go bust on Katrina claims...be careful!

[siskinbird] 20/7/2005 12:06

Order appears to have been restored today. If we ignore yesterday's blip, we're continuing to drift up nicely.

[sirgallahad] 19/7/2005 17:46

Siskinbird

It seems my post crossed with yours! Incidentally, iii also show the same closing bid/offer spread

[sirgallahad] 19/7/2005 17:45

Just noticed that today's closing bid/offer spread is 102.75/99.75

Can anyone explain in what circumstances the bid price can be higher than the offer?