Share Name Share Symbol Market Type Share ISIN Share Description
Rsa Insurance Group Ld LSE:RSA London Ordinary Share GB00BKKMKR23 ORD GBP1.00
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 684.20 684.20 684.40 - 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonlife Insurance 6,546.0 483.0 30.9 22.1 7,079

Rsa Insurance Group Ld Share Discussion Threads

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Beaufort Securities - Our view: RSA delivered good performance in H1 2015. The group recorded a sharp rise in operating profits, well supported by higher net written premiums across most of the regions in which it operates. Premiums were strong in both personal and commercial lines, driven by strong rate increases. The group has improved performance under Stephen Hester (Chief Executive), who has streamlined the business to focus on markets in Britain, Ireland, Scandinavia and Canada. RSA successfully completed the disposal of businesses in Latin America and Russia, taking it closer to its principal disposal programme (total proceeds £1.2bn 2014–16). The group's cost reduction programme remains on track to deliver over £350m gross annualised savings by 2018. RSA is progressing well on various performance initiatives, including customer service, sales effectiveness, pricing and underwriting improvements, and technology improvements. Return on tangible equity remains within the medium-term target of 12–15%, a year ahead of its expectations. Solvency II coverage ratio remains towards the upper end of its target range of 130–160%. The group continued on its medium-term policy of ordinary dividend pay-outs of 40–50%. We note the uncertainty in the market after Brexit. However, RSA is well-placed with the majority of its earnings in foreign currencies to mitigate the challenges. Therefore, we maintain a Buy rating on the stock.
Jake Cordell - In terms of its share price, RSA has gone practically nowhere in the last two and a half years. On 1 January 2014 they opened at 460p a pop, and they closed yesterday at 498p - having rarely sunk lower than 400p or popped higher than 500p. Such stability is a rare beast on the stock markets, so when chief executive Stephen Hester warns in the report today "we will have setbacks", they are probably the kind of setbacks most other firms would be envious of. With underlying profits growing handsomely, RSA were quick to herald their own strong performance in an otherwise tough external environment. "RSA is insulated from Brexit impacts via non-sterling profits and separate regulated European subsidiaries. However, the impacts on interest rates are negative for insurers generally and uncertainties remain in other dimensions." In short: RSA keeps ticking over and insists Brexit won't hold it back.
Analysts said the good underlying numbers, combined with the fall in sterling since the Brexit vote, could attract bids for the company. "Following the failed takeover approach by Zurich last summer we believe that chief executive Stephen Hester has effectively hoisted the ‘for sale’ sign over the company," said Panmure Gordon's Barrie Cornes. "The weakness of Sterling post Brexit has effectively lowered the price those potential suitors such as Axa would have to pay to acquire RSA by circa 10pc. The downside for those shareholders hoping for an exit is that the share price has rallied 28pc since mid-February 2016 lows."
Most important part of the results to me was - Core Group combined ratio of 94.3% (H1 2015: 96.4%). Scandinavia 88.5%; Canada 94.5%; and the UK 94.4%. And the retirement of some of their more expensive debt. And great to see an increase in the dividend to 5p.
Yes, very good results indeed. The turnaround plan has worked. Well done Stephen Hester!
Not too shabby!
Barclays Capital reaffirms its overweight investment rating on RSA Insurance Group PLC (LON:RSA) and raised its price target to 568p.
Hester is on record that leaving EU will not have any material effect on RSA. We have been a successful world-wide insurer for most of our history. Shares will continue to strengthen.
Turnaround trail: Also suffering from disappointing financial performance in recent years has been insurer RSA. It endured accounting problems and fell into lossmaking territory in 2013, but with a new strategy it's quickly turning itself around. In fact, it's forecast to record a rise in earnings of 48% this year, followed by a further increase of 23% next year. Such strong growth figures have the potential to boost RSA's dividend and with it paying out just 43% of profit as a dividend, there appears to be significant scope for rapidly rising shareholder payouts. As a result, RSA's current yield of 2.9% isn't representative of the company's income potential. Certainly, forecasts aren't guaranteed, but with RSA trading on a price-to-earnings (P/E) ratio of 14.6, it seems to offer a sufficiently wide margin of safety alongside strong income prospects to merit investment at the present time.
Turnaround on track: Chief executive Stephen Hester wasted no time opening his wallet after releasing RSA Insurance’s Q1 results two weeks ago. He immediately snapped up 100,000 shares at 479.85p a time for a total outlay of £479,850. And he was followed last week by new non-executive director Martin Strobel with a £57,924 maiden purchase of 12,000 shares at 482.7p. Mr Hester arrived at RSA in 2014 after serious irregularities in the insurer’s Irish division were unearthed. Restructuring the group and rebuilding the balance sheet hasn’t been a speedy process, but the recent Q1 results suggest the turnaround is firmly on track. Analysts are expecting a big uplift in earnings this year, putting the company on a P/E of 15, which falls near to 12 next year on further strong forecast growth. A well-covered dividend yielding 3%, rising to 4% next year, is also on the cards, so the shares appear to offer reasonable value.
I see that the RSA share price is starting to close in on the Zurich Insurance take over offer price of last year, so it seems for once that a companies CEO was right when he said that the offer under valued the said company.
* RSA Insurance Group Plc : JP Morgan raises target price to 550p from 448p
jarbie - There would not be and I was not expecting one, will come with the half yearly statement.
Not a word about the Dividend
Read Panmure Gordon & Co's note on RSA INSURANCE GROUP PLC, out this morning, by visitinghxxps:// "RSA has delivered a good Q1 IMS with Net Written Premium at £1575m (-1% reported and flat at CRE) but Core NWP at £1457m was up 8%. The NTAV at 31 March was 303p/share (31 Dec 2015: 279p/share) whilst profitability was said to be slightly ahead of plan helped by better attritional losses and planned cost savings. The SII coverage ratio has increased to 150% (31/12/15: 143%). In our view the shares are..."
RSA Insurance Group Plc : Barclays raises price target to 545p from 457p RSA Insurance Group Plc : Barclays raises to overweight from equal weight
RSA a safe bet with ‘some opportunity’: RSA (RSA) has set ambitious new targets for its margins after Zurich pulled out of a bid for the insurer. Deutsche Bank analyst Oliver Steel retained his ‘hold’ recommendation and upped his target price to 515p from 450p. ‘The aborted offer from Zurich last year appears to have galvanised RSA’s profit improvement initiatives, and management has now set ambitious new targets to deliver margins in line with the best of its peers in its main markets,’ he said. ‘We think a good deal of this is achievable, and our forecasts for 2018 estimates are c.30% into the new target ranges, giving a price/earnings ratio in 2018 of 9.7x. Against this, we think continued balance sheet restructuring limits the dividend-paying ability for the next two to three years, leaving the yield trailing most of its peers even by 2018. In short, we see RSA as a relatively safe place while markets are volatile, with some opportunity, but we’d prefer a cheaper entry point than here.’
Income, growth and value: RSA continues to deliver on its turnaround plan, with the company’s most recent results highlighting the excellent progress being made. For example, RSA is forecast to record earnings growth of 43% in the current year, followed by further growth in net profit of 16% next year. This puts it on a price-to-earnings growth (PEG) ratio of 0.7, which indicates that capital gains are on the horizon. As well as capital growth potential, RSA also offers excellent income prospects. It may only yield 3.4% right now, but with the aforementioned profit growth in the pipeline, RSA is due to yield 4.4% in 2017 from a dividend covered 1.9 times by profit. Therefore, further brisk gains in dividends could be ahead making RSA a strong income, growth and value play.
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