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Really pleased to see Aki Hussain at the helm, such a talented young man and will undoubtedly steer Hiscox to new heights. He’s IT savvy and understands the benefit of digital transformation.
I haven't known why HSX is being reduced gradually. Someone may perhaps give actual enlighten post here. However, the price is in range of reasonableness (to me though). 1/2 of my fund is allocated to long run and HSX is one of them; couple grands down isn't worry me.
I held Clipper Logistics when it was 300-380ish in 2018 (similar stake as HSX now) because of their Boohoo and ASDA contracts and market was not very kind at time. I am right in the end though heh heh :-) Relationship of Clipper to BOO & PLT is like Breezemount to IKEA.
Have bought back in here.
Market considers the company to be worth less now that is was last year before a vaccine came along?
Makes no sense to me. Gonna lock this away and come back in 2 years. By which time I expect the sp to have at least doubled.
alas, I have insurance shares across various companies...companies/brokers are commission based, so inflation goes up, income goes up and there is always someone who has to have insurance. ..should be a slam dunk but obviously not!
HSX could be weak for a while as they will have to proffer cheaper rates going forward to woo back customers.
HSX problem with COVID was that their customers were "higher echelon" so access to noisy media easy for them. Other insurers had same attitude but their customers had no access to media. ho hum.
I doubt any investor sniffing here as the value seems to be deteriorating here. There are loads of new recruits (that means experts are leaving) and PR in the company is absolutely zero (another flashing lights).
Based on technicals it looked a very positive share, but in my opinion the actual situation seems to be very very grim. So if it falls to 600p zone that is a good entry for me for now. Until then bye from here.
I hear P E groups are sniffing around...
Even I thought the same at first, but such dead bounces in shares dangerous at one point it will collapse. When the collapse time comes, it gets hard to get out of it as it will be falling like a stone.
The next major support around 760p and then in my opinion there is going to be major free fall to 600p range
Possibly something disastrous here???? day by day it gets bleak. Fortunately sold all my holding here,
All support broken, and it is looking dead weak around 785p. Also, there is some major sell out every day. Seems to be some major shareholder is cleaning the basket.
In my opinion, once that SELL order are done it is going to crazily get dumped down. Possibly somewhere in 600p region... In my opinion as screeeeam SELL at this point, waiting to buy back at 600p region... Unfortunately DUMP TIME!
Thanks for a bit of inside. HSX is one of core holdings (6-fig) for me. :-)
There is a big gain to be made here but patience will be required! Hiscox is hugely undervalued so may even get a bid or two.
I work in this industry, not at Hiscox. Some of the price rises going through the book across the London market are very high. Basically the market works by you make bumper profits for 2-3 years and then live off them (through reserve release) for the next 5-10. As long as the hurricane season is kind then insurers should do very well this year. Hiscox has the advantage of being diversified that Lancashire and Beasley don’t. Lancashire in particular is like a box of fireworks - either nothing happens and they make a big profit or their book is toast. Have to admit I am baffled by the price fall here as the market has never been so good for a long time.
I don't think the selloff is HSX specific. LRE, BEZ are also down equally. One big fund is reducing their exposure to the sector. This is my guess.
Thanks for the response Joe. It looks like the drop probably has been overdone done then.
Naturally, the sp has turned green for the day now I've sold out! Sod's law..
I get why that could cause some concern - but even from a quick glance at the most recent Trading Update RNS from 3 weeks ago: "Hiscox UK's exposure to potential business interruption claims has been running off at approximately 8% per month since June 2020. Residual exposure is expected to be largely run-off by the end of June 2021. As previously disclosed, the Group estimates exposure to restrictions already announced in 2021 to the end of June, to be less than $40 million".
So whilst they had $475million of liabilities and the publicity of court cases etc won't have helped, it seems they're motoring through these claims and pretty much out the other side now, with limited liabilities going forward.
I want to top up to average down (current average £8.21) but just don't know where this is going to settle!
Guys, this might be the answer as to what’s going on here
https://www.cityam.com/hiscox-tops-list-of-insurers-facing-business-interruption-claims/
I think the share price drop is quite possibly overdone, but Hiscox being at the top of this list is obviously not good news.
I think there’s too much risk hanging over the share until the value of these claims is known so have decided to sell, for now. (Money has gone into HYVE instead, which is travelling in the opposite direction!)
I believe there is a sector wide negativity... Probably some of the big funds are reducing their insurance -specialty insurance- exposure. In my personal opinion, it is a mistake. I might be wrong though.
This is a fantastic entry point in a company that recently announced decent results and hopefully the reinstatement of a dividend this year.Based on what is currently known I have bought today. Yes it might go lower but as always patience is key.
25% down from its fair value!!!
In my opinion, either MM's pulling down.. or some insider dumping.. If it recovers upside is £10....
If this continues, downside is £0 approaching very soon on this.
Buys are outweighing Sell, but still the price is falling like stone.
There is no real reason I could see!!!! Unless some insider knows that HSX is going to bust!
Because everyday it slips 2% to 3%. If this continues for another 40 day then it will be valued at £0
anyone have any ideas...
This is what the share picker tools says!!!!
Below Fair Value: HSX (£8) is trading below our estimate of fair value (£11.81)
Significantly Below Fair Value: HSX is trading below fair value by more than 20%.
These days technicals are simply getting wrong as people follow, just like a herd, on some crazy columnist or posts!
We should be at least or above £9... but for no reason it is moving on a down beat..
May that is called market momentum :D
Also, many traders taking advantage of the panic in the market and focussed on High Risk, High Reward shares
These magic words (Covid, Inflation, Crash, Job data, Global issues) are making everyone to make money on small caps and risk/reward shares at the moment. In the long run, this will do better to great. But for now silence prevails!
Absolutely no idea, I've just taken this as an opportunity to top up.
Any ideas why (excepting the brief Covid dip last spring) the share price is now at its lowest for six and a half years? Perhaps I'm missing something, but recent results, ongoing business and outlook don't suggest any reason to me why this should be sub £8 and not closer to (or above) £10.
Nice to see it’s on the right track....going north.
GLA