Member Info for MaoWombat

Good post. Yes, I think this prequel to the report findings on Thursday will certainly help the share price. Wish I had not sold now. ce la vie.

The start for 2014 and end of 2013 has not been good for insurers, with all the bad weather . So with all the bad news re Ireland, I siold out here. At some stage I will be back in as RSA should be worth more

Agreed last Friday was a difficult one to call. I bought once and sold twice. Thorntons was a different animal. I think I blew it on that one, lost about £3k if I remember rightly. Still like their chocs though.

Yes me too...I need to clear my head and ask myself what value do it put on this share now.

Too much uncertainty atm. More likely it will swing downwards than upwards. For this reason, I am staying where I am, which is not holding.

Hottentot, Sorry can't add any value here, I will comment once I know how or if additional finance is to be sought.

I think Allianz, Zurich have been mentioned as possible suitors for a take over. Also a rights issue has been mentioned here as a possible way of securing needed funds. There is also a possibility that part / parts of RSA could be sold off to say Allianz, Zurich. This would alleviate any pressure for either a full take over or a rights issue. I would think this third option would be the preferred option for RSA. comments ?

I can only speculate what could possibly have occurred. Let's look at a fictitious Insurance company BODINJINS. They have 200 outstanding claims for bodily Injury. These claims are allocated to ten senior claims individuals with experience in these sort of claims, so they look after 20 each. They have claims reserves on these 200 claims, and each claim is reviewed regularly and reserves are updated when appropriate. These claims reserves are in the monthly results. So where can under reserving occur ? Actuaries typically look at large claims reserves, check Reinsurance levels, they may consider loading claims reserves. Most importantly they need to look at ibnr ( incurred but not reported ) this would include and amount for claims which may have recently occurred or changed, but not yet uploaded onto the claims systems. The loading and ibnr values, are subject to individual views and possibly can be mistakenly under or over reserved for. I have no idea what has occurred within RSA Ireland, and I am most surprised that checks / audits have not picked up any errors. Let's see what the investigation finds.

Said at 10.00 a.m. this morning, I thought 90p - 95p is where it should be after today's announcement. called it right.

I'm out !

Didn't sell all the shares I bought this morning. Just worked out that after dealing costs & stamp, todays shares (added to my original holding) have cost me 75p a share...happy with that.

Not sure whether this will come under more pressure later on today, taken some cash out , as I promised myself a visit to Tesco's to buy that turkey of a share.

Just smashed through 86p......take profit for today ? what do others who bought this a.m. think ?

Or did someone close the "gates to hell" after putting the fire out ? 85.55 --85.65 live

As 2013 draws to a close, we have to admit that this year is one of the worst for RSA. However, I see no reason for premium income to drop in 2014, unless they are downgraded again by S&P. So 2014 could be back to normal profit / divi wise. What price the share then?

Glad you clarified what the dentist visit was for. I thought you might be having some of your gold teeth extracted so you could buy some of these RSA shares at this bargain price. I think there is still a lot of value in posting and reading comments here. I particularly like the ii article relating to "below 90p" could be a take over target. Also the comment about a mini rally from a poster we have to admit got the "gates from hell" right. credit due where credit is due. I am holding.

Holding fairly steady at just over 81p, so already a small profit for some who bought here this morning. I would have thought the news is not bad enough for a near 20% drop from an already low £1 base. Surely 90p - 95p is more where it should be.

Yes you are right, I am looking at Tesco's, was hoping to buy some shares today, but diverted the funds to buy in here instead.

I too was going to top up at anything under a £1. Then reading what was posted here, I changed my view. Not working today as it was Xmas work party last night. Was not too surprised when I read the RNS, but aghast at the market reaction. All I can say is that I am glad I waited before buying further. Hopefully I have got it right now as I have increased my holdings this morning.

Mr Banks, Are you related to the Banker in "Mary Poppins"