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https://wnyt.com/news/8-million-dollar-stamp-goes-on-display-in-london/6297023/
www.showpiece.com
I see this Board and share are as lively as SGI, one of its constituents
Am I right in thinking it is the 20th Feb ? , and will the share price drop by that amount ? Anybody have a view on this. wakering 123
As per the Sunday times.
Merger deal to take insurers into top ten: Catlin Group, the insurer that is one of the most persistent takeover candidates on the stock market, is in talks with a larger insurer that would value the company at £2.53 billion
Not all cash though.
Bought into CGL at 509 but it's my smallest holding. GLA, hope you're all quids in after today's big increase.
Lucky I bought back in!
But no final divi. I will take it as xmas bonus. Thank you Santa :)
I Sold first thing this morning with a limit order only to get up and see a TO rumour! I know it may be BS , but after being in rubbish stocks for so long I could`nt risk being out if a bid comes in so bought back in all 9ks worth. hope its not bull..... but oh well . GL
Reason for the rise according to LSE news link above.
Can't grumble!
surprisingly did not have the market buying ( except for algos), on what is a v good announcement. There were a few rollover ordinary trades after hours, and hopefully, with a bit of news in Sunday papers, a push on to 580p next week would be due reward. All in MHO of course.
buying frenzy at 502,5, will transmogrify to selling frenzy at 502.75. 'ffing magic
Cheers I'll look into it.
Hi mpg1, I use Galvan ( IG), and I just 'fone' my order through, and it's placed in seconds at a known price to me. As far as auctions go, I believe the answer to yr question is yes. GL, n ATB
i just have a quick question regarding CFD which I hope you dont mind answering. Can you participate in the auctions before and after close? And do your orders go straight to the book? I presently use spread betting from time to time and pay for L2 market data so I was considering setting up a CFD account with IG and use their L2 so I wanted to see what the benefits would be. I didnt realise you still get the divi for the full whack of stock which is a big plus. ATB
Hi Dan. Thanks comments. With FTSE250 cos., I err on the side of levered products ( CFD ). The margin call is 15%, so for eg. I can hold a £20k position with a £3k deposit., and no stamp duty. I prefer this approach with high divi yield cos, and CGL is nigh on 6%. IF it was to pay 6% this coming FY, divi would be £1,2K on £3k outlay. Pretty good, + any possible rise in sp. Obviously I have neglected the downsides. 30% drop in sp causes me a £6 loss on a £3k outlay. CGL had major profit hits in 2011 - Japan Tsunami, hurricanes, floods in Eu, and the sp held up pretty well. 416p 6/06/11, down to low of 345 ( -17%) 12/09/11, and to 431p on 06/02/12, ( + 20%). and it increased divi. So Dan, I'm in. Plse do not take this as advice to buy, or to have levered products on any share of course. Wishing us both, and CGL the best of everything. GL Tom.
Hi Test, I really like your approach of thinking of worst case scenarios etc and looking at companies from a conservative view when it comes to whether to invest or not. This is what I try to do myself when decided where to allocate my money. I often find that hearing from other people’s points of view helps me decide what to do also. Often it’s the case that I hear something that puts me off a share, but sometimes I hear things that trigger a whole new episode of research. Rarely am I so confident / bullish about a share that I can dive straight in without first looking at other people’s opinions / despite general market sentiment. Let me know whether you choose to invest in Catlin or not and best of luck to you, my fellow investor. Very best regards, Dan
Hi Dan, I see the co. from a different angle, and look at 'worse case scenarios', and yes, all the points you raised are valid. Catlin would not be a sole insurer on cat. events. The 2 threads ( Undervalued, and Undervalued or Not?), have given me, insight which was previously lacking, and decision making is easier.This must be the whole point of these posts. Thanks and GL
Yeah huge catastrophes have often resulted in a "hard market" which are the very best years for insurers, providing they survived / are still in the game (of which Catlin would be one of them)
testpack, Not every loss you see on TV will be insured by Catlin. The expertise of the underwriters at Catlin must be very good for them to be so profitable etc. That’s the first thing. Secondly, even if they are involved, chances are they won't have taken on 100% of the risk. Usually for large / complex risks they'll just be one of many insurers liable. So, you may see a £300m loss, but if Catlin only have a 10% line done then they’ll have to pay out £30m. Thirdly, you have reinsurance. There are many types of reinsurance and some have been developed specifically for catastrophes too. All insurers will have reinsurance treaties in place whereby premium and claims are split proportionally between the insurer (Catlin in this case) and the reinsurer. So going back to my previous example where Catlin would have to pay out £30m – if that comes under the terms of the treaty where the reinsurers have agreed to split premiums and claims 30:70 then Catlin may end up paying just £9m. So, in this hypothetical example, you can see how you may see a huge £300m loss on TV, but Catlin may only have to pay out £9m (3% of the total) I’m obviously being totally hypothetical. But let’s say Catlin were down for the full 100% / the full £300m. It would either fall under the treaty and, failing that, Catlin would have purchased some reinsurance on a facultative / individual basis and / or, failing that, bought some excess of loss reinsurance whereby the reinsurer will pay all loses above £50m etc. So, even here, you can see how the loss to Catlin would be 25% of what the total paid out. Again I’m just being hypothetical but my point is this: All insurers employ lots of actuaries who do lots of catastrophe modelling, to ensure that the insurer does not take on more risk than they’re comfortable with. Insurers will then use actuarial models (including catastrophe modelling) to determine 1) what they choose to insure, 2) what coverage and limits to provide, and 3) How much and what reinsurance to purchase. Well that’s the idea. Only the best insurers have that down to a fine art. And Catlin is one of the best insurers - they know what they’re doing. Hope I haven’t sounded patronising there but I just wanted to (try to) explain that you can’t let the thought of losses (which is inevitable when you’re taking on loads of other people’s / companies’ risks) put you off investing in Catlin. Very best regards, Dan
However, 2227, rns stated premiums dropped by 6% on increasing exposure. Yes, I agree,future events may increase premiums, but will not help bottom line now, if they occur.
Yes. Dan, it is cheap against it's peers, and this bodes well for a decent push North, especially with the cos aggressive dividend policy. Like previous posters, on the surface it looks to be a great investment. However, every time I turn on the tv, and hear of some catastrophic event in some far flung place, or maybe closer at home, do I want my first thought to be 'how much will Catlins share fall '. Hmmmmm. tricky this one for me. GL.