Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Catlin sees £122m losses after Japan quake Date: Wednesday 20 Apr 2011 LONDON (ShareCast) - Initial estimates by insurance underwriter Catlin put the cost of the recent earthquake and tsunami in Japan at about US$200m (£122m). The estimate is based on total insured losses of between $20bn and $30bn, Catlin said. That is substantially higher than figures cited by underwriter Amlin, which predicted it would suffer losses of between £80m and £150m based on total losses of between $12bn and $25bn. “This estimate is subject to a considerable degree of uncertainty as the full scale of human and economic damage is not yet known,” said Catlin today. It will be many months until the total amount of insured damage arising from this catastrophe can be estimated with precision.” While losses from the Japan disaster combined with those from flooding in Australia and another earthquake in New Zealand will have a “significant” impact on 2011 earnings, Catlin says its capital base remains intact. It has a $500m mechanism in case of catastrophes and has other reinsurance protection on top of this, it says, adding, “A substantial portion of the losses from another major catastrophic event during 2011 would be recoverable from the reinsurance programme.”
Catlin guesses NZ quake cost at £77m By Lee Wild Date: Thursday 10 Mar 2011 LONDON (ShareCast) - Initial estimates by insurance underwriter Catlin put the cost of the recent earthquake in New Zealand at about US$125m (£77.5m). The quake near Christchurch - 6.3 of the Richter scale – killed over 150 people on 22 February and caused massive damage to the local infrastructure. “This estimate is subject to a considerable degree of uncertainty,” Catlin warned. “It will be many months until the total amount of insured damage arising from this catastrophe can be estimated with precision.” US bank JP Morgan thinks the final bill for the disaster will be $12bn (£7.5bn), making it the second most expensive in history for the insurance industry. Profits fell sharply at Catlin in the year to 31 December as natural disasters such as the earthquakes in Chile and New Zealand forced the property insurer to pay out for claims. Pre-tax profits fell to $406m (£252m) from $603m the previous year. Catastrophe losses amounted to more than $200m, compared to no such losses in 2009.
Thought went EX on 18th ... but seems that might have got my dates muddled with today (3% drop) ?? Anyway, I will be watching the retrace anf adding more if we see sub £3.60 in next few weeks. HOLD on my PF as haven't really got large enough holding to trade the drops ... just trying to add a few on the dips as this one should be over £4 all day long IMO !
4.5% dividend paid 18th March .... still time to top up before Ex Date !! 6.7% annual Divi equivilant is great value with this stock IMO, despite reduced profits still pleanty of upside long term (Just need for the man upstairs to quit with the earthquakes and floods in 2011/12)
Insurer Catlin Group (CGL) reported a smaller than expected drop in profit for the full-year ended 31st December 2010 after a strong underwriting performance helped it absorb 218 million dollars (135 million pounds) in natural disaster claims. The company said pre-tax profits for the 12-months fell by a third to 406 million dollars (252 million pounds), which compares with the company's calculation of consensus expectations of 373 million dollars (232 million pounds). Shares in Catlin moved up 7.2p to 392.7p.
What or any liabilities in Queensland?
Crashed through 370p resistance after a good many times of trying ... are we now seeing the Funds adding on the run upto Ex-Divi date (TBC) ?? I am holding tight for the divi and see where we are after that, still cant help but feeling that CGL is undervalued ... cash in their bank is worth 430p (ish) ??????
at £3.70 ... need something concrete to push through and chase those broker targets at £4.20 - £4.50 etc. etc. I don't think that riding on the back of FTSE will get us to the promised land ... will take news/speculation me thinks !!
UBS today were a little more optomistic that my target of £4.05 ... they suggest £4.20 (Although that is reduced from £4.90 previously) !!!! Top-up window recently at ca. £3.30 was a GIFT that I couldn't take advantage of (Cash famine) ... Well done for anyone who snaffled any of these in that dip ;o)
Thank you for your help. I agree it does look like a good investment. One for the long run. It has a great yield and the company looks solid. I'm with you all the way! Good luck to you.
They have not published 2011 "Prelims' Ex-Divi date. 2010 = 24th Feb 2009 = 18th Feb 2008 = 23rd Apr Guess we will have to wait a while to find out for sure ... have to say this is looking rather a tastey investment at present. Fingers crossed the markets pick her back up and edge us up a tad next week ... would be very happy with small gains but on regular basis (Little & often so to speak) ! CGL is a long term home for a modest chunk of my hard earned .... I will watch it daily (I'm a sucker that way) but at the end of the day I intend to hold for some time. BW & GLA who hold or buy into CGL :o)
Does anyone know when CGL goes ex-dividend? Many thanks
Touched 347.8p and bounced away. Hopefully we can build on the latest (Very robust) IMS and use the positive market sentiment that it generated as we navigate through coming weeks and months. Opinion = BUY (Target 405p)
Technical bounce at ca. 346-348p ... then hopefully strong buying on lead upto Ex-Divi (Early Feb'11) .... 404-406p top in late Jan'11 maybe ? Hey what does it matter, happy for these to be safely tucked away in my ISA for the long term (Investment rather than trade for me).... good news is that will also collect the 7% dividend along the way !
Total PUNT... stuck them in my ISA and see what the future holds ?? To be fair the Fundementals look relatively sound and Divi is half OK ... so has a reasonable chance of repairing some of damage endured over my wider PF by the likes of CRND & HAWK (Live & Learn).
Catlin is an insurer with great fundamentals including high and constantly increasing dividends. www.downtoearthinvestor.co.uk
16.8p/share is the figure
excellent at these levels - goes ex-dividend wednesday
Yes profits are still CGT liable all i mean is that when you purchase you will not be charged the 0.5% stamp duty which we get charged on most share purchases not much but saves a little bit!
Are you sure about that?? Traded on AIM, I assume you are UK tax paying, so any profit will be CGT liable for you personaly (of course after the threshold)...
I am looking to get into this around 315-318p should see an increase into the 30's shortly a little known added bonus on this one is because it is incorporated in Bermuda it is stamp duty exempt!
Anyone interested in these? I've recently read two articles recommending them as a quality stock in the sector and an income play. I'm considering purchasing at around the current price (I'll probably wait for a market pull back). Would welcome any feedback/comments/thoughts/recommendations.