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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| R&q Insurance Holdings Ltd | RQIH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.155 | 5.45% | 3.00 | 16:35:20 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3.00 | 2.845 |
| Industry Sector |
|---|
| NONLIFE INSURANCE |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 06/09/2021 | Interim | GBP | 0.02 | 23/09/2021 | 24/09/2021 | 12/10/2021 |
| 24/05/2021 | Final | GBP | 0.002 | 03/06/2021 | 04/06/2021 | 24/06/2021 |
| Top Posts |
|---|
Posted at 29/9/2023 16:48 by petomi Indeed the legacy business is a mess. Ironic that about a year ago Phoenix requisitioned a meeting to reinstate Ken Randall who as I recall was the architect of the original legacy business which has harboured so many problemsI haven't looked at the results in detail but the Accredited PM business looks to be doing well so let's hope there's value to be unlocked there. Presumably that's why the price has recovered well today after the initial sharp markdown GLA |
Posted at 04/3/2023 07:48 by red ninja It mainly happened last year (ie 2022) October 17 - 18th.Phoenix dropped almost 8% and Scopia went to 7.95%. The recent Scopia buying took them over the 8%. Thus it is a misleading RNS they have in reality gone from 7.95% -> 8.01% See 18th October 2022 RNS :- |
Posted at 01/2/2023 08:19 by edmonda As well as the first acquisition by R&Q's new JV with OBRA Capital that shows the significant potential for other similar deals, @RQIH won 7 new programs in December.Equity Development's fair value is now 155p/share, as you can read in a new research note freely accessible here: |
Posted at 06/1/2023 12:23 by red ninja RQIH alive and kicking and involved in legacy product liability claims relating to coal dust, asbestos, silica, and other exposures. I hope they have calculated the claims correctly given the problems they have had before with asbestos. :-R&Q Insurance Holdings Ltd. ("R&Q") and Obra Capital, Inc. ("Obra") are pleased to announce that they have acquired, through a newly formed joint venture, a wholly owned subsidiary of global safety equipment manufacturer MSA Safety Incorporated ("MSA Safety"). The acquired subsidiary (the "Company") holds legacy product liability claims relating to coal dust, asbestos, silica, and other exposures. MSA Safety contributed approximately $341 million in cash to the Company, in addition to related insurance assets, and the joint venture contributed $35 million. As a result of the transaction, R&Q will provide claims and management services and Obra (recently rebranded from Vida Capital) will provide investment management services to the Company. The transaction has enabled MSA Safety to remove all legacy cumulative trauma product liability reserves, related insurance assets, and associated deferred tax assets of the divested subsidiary from its balance sheet. As the transaction concerns non-insurance legacy liabilities, it will not be ceded to Gibson Re. The structure of the joint venture and the related exposures in this transaction result in reduced counterparty credit risk for R&Q, and therefore means that the fees will be lower than those earned from Gibson Re. William Spiegel, R&Q's Executive Chairman said: "We are pleased to form a joint venture with Obra to acquire and professionally manage these legacy liabilities, providing MSA Safety with a complete finality solution. This is an exciting transaction for R&Q, showcasing the capabilities, reputation and innovation of our Legacy Insurance business. This will see our reserves and non-insurance liabilities under management increase to over $1 billion, comprising two pools: traditional insurance reserves via Gibson Re, and non-insurance legacy liabilities. This furthers our strategy of becoming a leading manager of legacy liabilities and reflects our ability to execute transactions that match different legacy liabilities with the right form of capital." Andrew Pinkes, R&Q's Chief Executive Officer of Legacy Insurance said: "While we have been providing Legacy Insurance solutions to insurers, reinsurers and corporate captives for decades, this transaction opens up a new growth avenue in providing similar services for non-insurance, corporate liabilities. This transaction is a strong demonstration of R&Q's expertise in underwriting and managing long-tailed liabilities, as well as our innovative approach to structuring and delivering comprehensive finality solutions." |
Posted at 12/12/2022 21:55 by archy147 Simon i have no idea what to make of your post 1387.On the one hand, you're very candid about making losses here and elsewhere (which is pretty unusual, most posters prefer to blow their own trumpet, or say nothing). On the other, the scale of your investments seems, well, a little bit crackers. RQIH makes up about 2% of my overall portfolio. How much does it make up of yours? |
Posted at 12/12/2022 21:18 by simon gordon Chelverton UK Equity Growth Fund - November 2022:The Fund participated in the rally. Its largest contributors to returns were Accesso Technology, after a strong trading update, and Alpha Financial Markets on the back of strong interim results, which caused analysts to upgrade forecasts. Sigmaroc and Alpha FX both continued to rally after their late October trading updates. There were very few material negative detractors to returns in November. GB Group continued on a downward trend, after its October trading update signalled a slower rate of organic constant currency growth, and R&Q fell back in the absence of any news-flow. ----- One fundie who was in RQIH, Howay Investments, looks to have closed down as the fund got battered in the storm in H1 2022. Many of the holdings halved. SUPR was one of the favs. Been a brutal year. |
Posted at 12/12/2022 16:36 by simon gordon Archy,I was confident before Brandywine and Brickell. That was a lucky escape. I had 408,000 and had I held on I'd be down 408K. I was very relieved to get out at 162p on the Brickell news for a 78.7K loss. I then tried to trade it before the takeover vote and lost 15K on that trade when Brickell pulled their offer. You never know what can come from left field and wreck a business. A contract goes wrong, look at TRB who've screwed up a big contract and the share has halved. MJH, which I went into after RQIH, today had it shares suspended because the CFO has been cooking the books, I got in at 37p and out at 27p and was glad, if I'd held I be sitting tonight thinking I might lose it all. The CFO helped build Hastings Insurance, he wasn't a mickey mouse character but holders could be looking at a wipe out. Directors were buying shares and it was supposedly trading ahead of expectations and the ESG business was booming. Getting hit on RQIH and MJH are probably my two worst trades I've ever experienced. 200K loss. Fortunately, I got a chunk of it back on Lettuce Truss's gilt meltdown. It's not impossible that the balance sheet blows up again and you lose it all in RQIH. Don't bet the farm, unless you are ready to lose it all. This is a gamble, as is trading the markets! Xx |
Posted at 10/12/2022 16:49 by spectoacc "30p downside/374p upside" isn't odds tho - I'd think the 30p is far more likely than the 374p.Agree the Spiegel situation is distinctly odd. Phoenix surely didn't set out to lose this much money. Who's right, they or him? But also a small holder - for richer or poorer. Warren Buffett's "It's only when the tide goes out that you see who's been swimming naked" is maybe more apt ;) Question is, have RQIH washed up on a nudist beach? I hope so. |
Posted at 10/12/2022 13:51 by red ninja Yes, many things still looking right with R & Q, but some of the issues remain :-1) Is there going to be any more issues with the legacy portfolio which will require another cash raise ? 2) Phoenix seemed very unhappy with William Spiegel as boss of the company. Does it make sense to invest in a company with a Chairman whose integrity has been called into question. 3) Phoenix still selling out of their share presumably. They don't seem to have found a fund who wants to buy their remaining 4.5%. The share overhang may weigh on the company share price for a while yet. 4) The institutions bailed out RQIH at £1.05, but there is no indication that they are accumulating at current prices around 60p |
Posted at 07/12/2022 17:29 by simon gordon Back of the envelope calculations:2023 Profit after tax = £34.1m divided by 378m shares = 9p EPS at 60p = 6.7x P/E 2024 Profit after tax = £66.6m divided by 378m shares = 17.6p EPS at 60p = 3.4x P/E -If they pay out 25% of 17.6p = 4.4p at 60p = 7.3% yield. -If they paid out 50% of 17.6p = 8.8p at 60p = 14.7% yield. Edison have a 6.8p dividend forecast for 2024 = 11.3% yield at 60p. *Figures worked from Edison note of 18/8/22 with Cable at $1.23 and 10% Bermudian tax rate. ~Post edited to change share count from 392m to 378m. |
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