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Royal Sun Alliance Share Chat (RSA)



Share Price: 465.80Bid: 465.70Ask: 466.00Change: 2.10 (+0.45%)Riser - Rsa Ins.
Spread: 0.30Spread as %: 0.06%Open: 464.50High: 468.10Low: 463.60Yesterday’s Close: 463.70


Share Discussion for Rsa Ins. (RSA)


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alb1on
Posts: 114
Question
Opinion:No Opinion
Price:464.40
Outlook
8 Oct '14
Having been rude about RSA after the Irish debacle I am now becoming more interested in them as a recovery play as (at least) the capital position is looking better. However, I have some questions and wonder if those with more knowledge can shed any light;

Firstly, their exposure to the bond market. The investment portfolio contains £11 billion of bonds. Although they have over £400m of unrecognised capital gains on these, this will go into reverse as yields increase which is probable in 2015/16. Does anyone know the sensitivity metric? (the impact in £m for every basis point increase in yield).

What are the planned disposals other than the outstanding Baltic and far east operations which are in the process of sale? Does anyone know if Italy is on the sales block? I must admit to an interest in Italy, knowing the market, and the operation is sub scale but could probably be flogged at a decent price.

Any inside views on the new management (especially Whittaker). I must admit I was disappointed when they went inside for their COO rather than going for an external heavyweight but it would be good to hear views from anyone who has seen him work since the appointment.
 
mono51
Posts: 218
Off Topic
Opinion:No Opinion
Price:469.90
SP fall
3 Oct '14
against the market trend today which was well up??? anyone know whey
MY21
Posts: 3,716
Off Topic
Opinion:No Opinion
Price:478.90
Car Insurance Enquiry
25 Sep '14
Millions ‘wasted’ on car insurance inquiry: Britain’s competition watchdog has been accused of wasting “millions of pounds” of taxpayers’ money as it unveiled the results of a lengthy inquiry into the £11 billion motor insurance market.
mono51
Posts: 218
Observation
Opinion:Buy
Price:463.00
questor
3 Sep '14
I recall questor advising not to touch Merlin IPO last October but i am now sitting on a healthy profit. these analysts are really a jobs worth . Look at Finn Cap & Singer as well, useless. They keep dissing BTG and yet it keeps going up because fundamentally its a soild business with great growth prospects. Sorry for rant but some of these analysts really p..s me off. Cannot undersatnd how they have any clients given theri lack of credibility. RSA going in right direction and divi will be restored next year . all good. Hang in there
mepobre
Posts: 371
Off Topic
Opinion:No Opinion
Price:469.00
questor report
3 Sep '14
Shows what little he knows !!
MY21
Posts: 3,716
Off Topic
Opinion:No Opinion
Price:445.10
Analyst Comment
27 Aug '14
“The stock is trading at a small discount to the sector, which we view as harsh given its now strong balance sheet and in line debt leverage. We find ourselves above consensus and… expect the group to be at the upper end of its medium-term targets,”

Bank of America Merrill Lynch analyst William Hardcastle hails Stephen Hester's turnaround at RSA.
lunatic
Posts: 719
Research
Opinion:Strong Sell
Price:428.20
Quester Report
9 Aug '14
There was little reason for optimism in RSA Insurance (LSE: RSA.L - news) 's first set of results following a major restructuring, says Questor
RSA Insurance 430½p-13.4p Questor says SELL
RSA Insurance’s [LON:RSA] first set of results, following some major balance sheet surgery under Stephen Hester, was an opportunity to show shareholders the promise of a brighter future.
However, the insurer fluffed its lines and Questor is now bailing out.
Bonz1957
Posts: 2,170
Off Topic
Opinion:No Opinion
Price:421.60
View Thread (2)
RE: Made Profit of £65million
8 Aug '14
Maybe the market was expecting larger profits. ATB
lunatic
Posts: 719
Observation
Opinion:Strong Sell
Price:423.30
View Thread (2)
Made Profit of £65million
8 Aug '14
And are back in the black ,So why are they dropping like a stone ?
MY21
Posts: 3,716
Off Topic
Opinion:No Opinion
Price:430.50
RSA press coverage
8 Aug '14
Sell RSA as turnaround labours:

RSA Insurance’s first set of results, following some major balance sheet surgery under Stephen Hester, was an opportunity to show shareholders the promise of a brighter future. RSA, formerly known as Royal and Sun Alliance, first hit problems in November last year.

A black hole was discovered in the Irish division’s accounts, which required a near-doubling of reserves from £70 million to £130 million.

The gap in the Irish arm’s insurance loss reserves was compounded by a £220 million fraud. RSA launched a £748 million discounted rights issue in March, the Baltic and Polish divisions were sold in April to raise a further £300 million, and the share price was consolidated five-for-one in May.

This offset a strong performance in Scandinavia. Looking at the company as a whole, the amount of insurance it is writing is falling, with net written premiums down 9% to £3.9 billion. And the core insurance business is only just breaking even, with a profit from underwriting of £2 million, down from £188 million in the same period last year.

The problem for RSA is that with record low bond yields, investment returns are also falling, down from £192 million to £166 million. Once you add in head office, interest and restructuring costs, the company reported first-half, pretax profits of £69 million, down from £250 million at the same stage last year.

Questor picked RSA as a very high risk buy last year (92½p, December 16) on the basis that the core business would attract buyers and it would resolve its problems. Questor thinks this is as good a time as any to bail out of this speculative tip, and downgrades to a sell.

RSA Insurance at 430½p-13.4p. Questor says “Sell”



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