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Should bounce nicely now
In my opinion, Missing an opportunity is better than losing the money... I have it in the watch list, in my opinion this can go below the 52 weeks low if the lawsuit picks up crowd!!!
Sometimes it is hard to digest!!! but the truth is HSX fallen to floor around 654p on 19-Mar. That is without lawsuit complications.
If we factor in the lawsuit complication and the dull market situation, this looks like the start of the slope in my opinion
WAIT before you DIVE IN or AVERAGE!
Check out news in following link:
Most small UK companies have no pandemic insurance - watchdog - https://uk.investing.com/news/stock-market-news/most-small-uk-companies-have-no-pandemic-insurance--watchdog-2096252
I agree other insurance companies have already issued guidance to ensure their clients’ have a clear understanding to avoid any misconceptions. Market value has already come down from approximately 7 billion to today’s about 2.5 billion.
Price drop is excessive and should re-adjust upwards to a range of £11 to £13 pounds short term 1-2 weeks before settling as we recover from this regrettable virus.
Hi Tradegurus, I think the lawsuit will go away, before it gets very serious. Insurers like Hiscox write their policies in such a way that they avoid risk. What they do is not fair, but it is not about the ethics, its about them making money. Furthermore, they have some of the best law experts in the country working for them and they are involved when policy wordings are written and believe me when I say that they have considered pandemics of this nature. Below a link to give you insight in what some other insurers said back in late March about the subject.
https://www.insurancebusinessmag.com/uk/news/breaking-news/coronavirus-firms-clarify-business-interruption-coverage-217610.aspx
Hope this helps.
In my opinion, Virus can be cured and may not be that expensive to get it treated for!
BUT!!!! LAWSUIT is EXPENSIVE!
In my opinion, DOWNSIDE looming here..
My current reading is........5 consecutive weekly down candles here. 50 day ema very downward at the mo. Not to be touched till the sp bottoms out, which could be a couple of months.
And son't forget Solvency II capital adequacy regulations. Authorities will come down hard on any firm that deviates from their internal capital model.
I have never seen large fat candles drop so fast on a chart. I missed it but that was some fall.
I'm pretty sure they've already blown all their reinsurance protections! Blood on the carpet here.
They also are supposed to have significant losses from these Japanese hurricanes so I'm not sure how they're going to pay for them as these are newer losses so additional to the current position. Disaster.
I heard through the great vine that they are on the hook for the wildfires in US. I picked some up today, but have a feeling i might close out come end of day. Hoping for a short term bounce. GLA
Must be employing idiots rather than underwriters. Shame as this used to be a well run operation. I suppose their US exposure must be substantial, and almost all is at the wrong rating levels.
They also, I believe, write a lot of US Binding authorities where they give away a large commission to brokers, meaning they are hammered further.
These binding authority arrangements seem to be a real problem in the market, and are a lazy way of underwriting. Each risk should be assessed by their underwriters, this no longer would appear to be happening and now its coming home to roost. Can see this dipping below £10 per share in due course.
It’s one to just watch imo
Someone is in the know and I think there is bad news on the way given the fall.
Where is the bottom............................
same as HL
WOW FTSE 100
i remember the day they come in to market at £3
Tempus: Investing for the future is no disaster http://www.thetimes.co.uk/tto/business/columnists/tempus/article4609513.ece
Nice piece last week, certainly volatile trading last month but is £3bn cap a possibility by year end :) http://www.iii.co.uk/articles/257739/stockwatch%3A-very-special-situation
Hold Hiscox in the calm before the storm: The whole point of insurance is to protect against unpredictable risks, and so it’s only right that the Hiscox team are scanning the horizon for the next big claim. Robert Childs, the firm’s Chairman, warned that “a prevailing mood of suspicion and scepticism towards the financial services industry” could mean that the state support that kept the wheels on the sector in the aftermath of 9/11 might not be repeated in future. The FTSE 250 company wrote 12% more premiums in the period, totalling almost £1.1 billion, and group pretax profits rose 8.4% to £135.1 million. The interim dividend rose 6.7% to 8p per share, although the firm cautioned that next year’s Solvency II capital requirements for insurers, along with the looming hurricane season, could swerve into the path of its returns policy. Hiscox is one of the most diversified and well-run in the business, but it is liable to fall to earth along with the rest of the market once claims rise. Hold, for as long as you think the sector can outrun Mother Nature. Hiscox at 890.5p -40.5p. Questor says “Hold.”
Highlight stong regulatory headwinds.
Insurer Hiscox’s growth lifted by fewer disasters in first months of 2015: International specialist insurer Hiscox has reported a 12% quarterly increase in gross written premiums (GWP), boosted by currency movements and fewer disasters.
Good time to short.
Know nothing about HSX and said I would never do retail again once too often already Now.....I......did........give......you........a........heads-up...... Pity I didn't take some myself, along with some MUL