Over reaction as results not that bad and much of the new business decline is because they have sold businesses and so it is to be expected. Full year results and the return of the divi will set this heading up.
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.
3 Oct '14
against the market trend today which was well up??? anyone know whey
25 Sep '14
Car Insurance Enquiry
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.
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