R&q Insurance Share Discussion Threads

[topvest] 10/9/2012 13:20

I wonder whether they will be sniffing around parts of Tawa as they seem to have a "for sale" price over parts (if not all) the business.

[stemis] 10/9/2012 08:27

Note from Equity Development



R&Q produced sparkling figures for the first half of 2012: the tax-efficient distribution is, as promised, up by 5%, so the net yield at the current price is 7.7%, equivalent to 14.1% gross for a top-rate taxpayer

While Syndicate 3330, was the star turn, all four divisions showed an improvement, both in revenue and profitability

The launch of R&Q's new Lloyd's syndicate for the 2013 Year of Account will provide its live underwriting division with critical mass, guaranteeing sufficient income to cover essential overheads as well as, hopefully, generating a good return on the Funds at Lloyd's

The profitability of the run-off syndicates was even better than I expected and with some bias towards the second half, I am increasing my forecast for attributable pre-tax to £10.5m and EPS to 18.1p. This leaves the PFER at 6.1x compared to a prospective net yield of 7.7% and the shares undervalued by any measure

[jonwig] 06/9/2012 07:24

Good divi increase ... what's the betting somebody will come along again and insist they aren't paying a dividend!

[lord gnome] 06/9/2012 07:21

Headline figures make nice reading. Good divi increase - if I could get 6% a year on everything I own I wouldn't have a care in the world. Directors look forward to the future with confidence - those are the words I like to hear. Happy to hold and would add more if I had funds. Yield of 7.4% based on current offer price of 111p.

[jonwig] 06/9/2012 07:06

Very good, I think, yes.

Businesses such as this make it pretty hard to decide just what the trend in "profits" is, or even what constitutes a profit!

But what stands out (for me) is the pretty significant amount of cash generation in this half (£26m) as opposed to outflow in the last two halves.
This is mostly from run-off syndicate 3330, by the looks of it.

[18bt] 06/9/2012 07:00

Good interims today, seem to be ahead of what the market is expecting. Surprised there isn't some further acquisition of run off portfolios, but perhaps they'll come in 2nd half.

[lord gnome] 14/8/2012 07:41

Continuing to move up - which is nice.

[18bt] 02/8/2012 12:01

R&Q forms new Lloyd's syndicate

2 August 2012 |By Newsdesk

Syndicate 1991 will be led by former Axis underwriter

Randall and Quilter's syndicate managing agent RQMA has launched a new Lloyd's syndicate.

Syndicate 1991 will be led by active underwriter Daniel Wright, formerly of Axis, who will underwrite delegated authority business.

RQMA has been given provisional approval by the Lloyd's franchise board to form the syndicate.

Syndicate 1991 plans to underwrite for the 2013 year of account, subject to formal Lloyd's approval.

RQMA chief executive Robin McCoy said: "This is a key development in the growth of our live underwriting business at Lloyds, as we add a 'first party' syndicate to our existing turnkey and RITC syndicates."

[18bt] 19/7/2012 12:57

From Insurance Times today:

Capacity provided by Ironshore Europe and Equity Red Star

Randall & Quilter-owned MGA Synergy Insurance Services has expanded its product range after securing new capacity providers.

The MGA is a provider of personal insurance for medium- and high-net-worth (HNW) individuals.

Synergy has established new long-term agreements with two A-rated capacity providers, Ironshore Europe Ltd and Equity Red Star.

As a result, Synergy's product rangae now includes insurance of UK and European properties, high performance vehicles, classic cars and large fine art and jewellery portfolios.

The MGA has also secured a new single specialist HNW claims provider for all claims, through Lawshield UK.

Synergy is part of R&Q MGA Limited, the specialist MGA segment of Randall & Quilter.

Commenting on the launch, Synergy underwriting director Emma Bennett said: "Our new long-term agreements with Equity Red Star and Ironshore Europe have enabled us to broaden our risk appetite and product range for our clients. Furthermore, our agreement with Lawshield means our clients will benefit from offering a single claims provider and contact number for all claims."

R&Q MGA chief executive Nicholas Hales added: "This product launch is a further example of our commitment to growing the R&Q MGA offering. We're focused on replicating the Group's unrivalled quality of service and innovation across our global platform and we look forward to the continued development of R&Q's MGA underwriting business."

In addition to Synergy,. the R&Q MGA stable also includes R&Q Just Underwriting, R&Q Marine Services and R&Q Commercial Risk Services.

[warrensearle] 27/6/2012 15:23

Sit tight and keep the faith chaps it'll all come good in the end!

[this_is_me] 27/6/2012 09:36

I am finding the same - good company performance dire share price performance across most of my holdings.

[lord gnome] 27/6/2012 07:22

I think that says everything about the state of the market and very little about the state of RQIH, jonwig.

I emailed the company about the recent steep fall in the share price. I was reassured that it was nothing company-specific and down purely to the markets. Under normal circumstance it would have amounted to a major buying opportunity, but times aren't normal and almost everything I own is currently in that category.

[jonwig] 27/6/2012 07:15

A pretty grudging response (so far, anyway) to two very encouraging announcements this morning.

[lord gnome] 07/6/2012 10:57

Continued drift down in the share price on low volume. Bored or nervous PIs selling out or do we have a persistent seller against a background of no buyers. I can't see that this fall presages anything sinister.

[lord gnome] 15/5/2012 14:03

Phew - that's a relief jonwig. Shares always go 'ex-div' on a Wednesday, so I was expecting another big fall tomorrow.

[beaufort1] 15/5/2012 13:59

Thanks Jonwig - reassuring in these troubled times.
Ted

[jonwig] 15/5/2012 13:36

In case there's concern about the fall today, RQIH are now trading "xd" - and the relevant RNS even says "dividend"!

We'll get 4.9p, but somebody seems to have been uncertain, since the share price didn't know how much it should drop!

[alter ego] 24/4/2012 13:50

Had to smile at this rather appropriate typo in the apologetic "correction" RNS issued today, see fourth word from end of para.

"The Company therefore proposes to enter into deeds of release which are intended permanently, irrevocably and unconditionally, to extinguish all claims, whether known, unknown, past, present, prospective or contingent, arsing in relation to"

[lord gnome] 24/4/2012 09:04

Thanks for the link jonwig. A very informative read.

[jonwig] 24/4/2012 07:43

Equity Development are pretty good on insurance sector stocks.
But I'm a bit surprised they highlighted the litigation issue. I never noticed it myself!

[speedsgh] 24/4/2012 07:33

Jonwig - Thanks for posting the link. The highlight of that Equity Development piece was this...

"The economic background suggests that real investment returns will remain
negative until the federation of private sector pensioners block all the entrances
to Congress, the Federal Reserve, Parliament and the Bank of England with their
Zimmer frames."

Not often you see a sense of humour in such write ups.

[jonwig] 24/4/2012 04:53

Coverage of results, new:

[fenners66] 23/4/2012 21:09

So does going ex div