Member Info for Richard365054

Well done MrSoft for finding that statement from almost 3 years ago. In my opinion, a big addition is £100 million or more. Lloyd's don't don't seem to agree and probably view this as pocket change.

Just how much the additional provision is costing us depends on how many shares we hold. If the provision had been paid as a dividend, mine would have been in excess of £4,000, or not so far short of the amount that two claimants will receive. I won't criticise the claimants but instead point the finger at the Board members who instigated this fraudulent practise, all living the high life because the net work they exist in protects their myopic world.

It gives me absolutely no pleasure to see another ppi provision revealed, just a level of disgust at the Board of Directors that cannot do simple arithmetic and I have lost count of how many additional amounts have been set aside since they stated approximately two and a half years ago that no more would be needed. I could find the date and the person who made the statement but why should I waste my time.

The average ppi compensation is around £2,500 the last time I did any research into the matter. If it was £2,000 then £20, million would compensate 10,000 claimants. I have no accurate figure for how much the processing costs are but did hear some years ago it was around £600.

This is the third time that Lloyd's have set aside an additional sum in this financial year. Since they are incapable of calculating or estimating on the basis of historic claims, I would suggest they deserve very little respect for the way they have handled this debacle and are effectively opening the door to yet further fraudulent claims. By my figures, the additional £550 million will settle a further 220,000 claims. Are the Board that bad at arithmetic. Past performance would confirm that they are.

Good to see you posting again, Mrs N. I enjoy watching you beat away the flak that some posters send in your direction.

Quite extraordinary market capitalisation for Lloyds relative to it's profitability. Even if the trend is fairly flat you would think this would appeal to some fairly big buyers. But not so.
I made a comment this morning about well done to MrsN for giving as good as she gets. Needless to say it was removed. Bit like the stasi now on here.

New Zealand adapted very well when we left them in the lurch. I suppose it shows that you just need imaginative thinking. I personally felt our treatment of commonwealth neighbours was pretty shoddy all for the sake of joining a trading union. It's gone so much further than that and this is why so many want to leave this headlong flight to a political union and federal state. The EU just can't understand this.

I don't disagree with your point of view Sufcessex. But I find it remarkable how our police prioritise or ignore what's in the public interest. I would suggest a healthy manipulation by Government has kept them at bay over PPI because it has been a great benefit to the UK economy. Nothing to do with ethics or principles.

Some of you may recall I've posted a few times about the Board level instigators of this scandal and that it could only have occurred as a consequence of a board level decision across all the Banks who have been pretty well complicit in mis-selling this lucrative add on. I've written to the SFO on two occasions and had no response.
Now the police are to investigate the leak which led to the resignation of the US ambassador, because there is sufficient public interest. I don't know about other people, but I'm far more interested in individuals who have been responsible for my loss of dividends whilst pocketing untold bonuses. The Board level directors who determined and authorised this mis-sale scam and have sat in their comfy chairs pocketing the proceeds for years and have not retrospectively had to give up any of their accumulated benefits. Instead, the common share holder has carried the can. So the police prefer to investigate a leaked document rather than the largest scam ever carried out. Justice?

I hope you are right, Gate13Boy. But Lloyd's historically have been woefully wide of the mark when it comes to calculating ppi provision. It's only 2 months since they added an additional £100 million to the pot. Now that may seem like small beer, but if that had been paid as a dividend I would have been about £750 better off. Lloyd's allocate and write off money like it's going out of fashion. I don't think the final position will be known until February 2020, but I stand by my earlier statement and my assessments have been far closer to the mark over the last few years.

If you go back a few years, Lloyd's were constantly making statements that no additional ppi provision would be needed. I think since their first statement to this effect, they have made approximately ten more provisions. I pointed out in the early days that Lloyd's were making poor underestimates and suggested provisions that were much closer to the mark. Lloyd's have assumed their liability each month is 40% of the total and the monthly figure they have been using is £320 million. Again, they are underestimating and I calculate a further provision will be needed.

I see the payout total is running at a consistent high level. The claims companies are obviously filling their boots whilst they can and all a benefit to the economy. Very much doubt if any surplus capital will be left over once final payments have been made early next year. There may even be the need for an additional top up as Lloyd's have consistently, for 8 years, underestimated the amounts that would be paid out.
Limiting this site to purely Lloyd's comments have pretty well closed it completely. There's just hardly anything new that can be said. At the same time, the Brexit conundrum and MPs who are ignoring their electorates referendum decisions are destroying their own political bases. No matter which side of the fence you sit on, the impasse of Brexit and the shifting political opinions of MPs is keeping the Lloyd's price suppressed. A no deal would at least move the situation forward instead of paddling in circles all the time and going nowhere. No doubt this will be removed by the censors.

I think the end date for ppi was announced in early 2017. It gave two and a half years for outstanding claims to be made.

We've had to have a lot of patience although I agree, the dividend is a welcome recompense. Not so sure why the ending of ppi should have any bearing on the share price as the end date has been known for some years. I can't see that there will be any money left that was originally set aside for ppi as an additional amount was added to the pot at year end. I'll just be glad to see the back of this colossal fraudulent practise and forever wonder why the architects on the various boards were never punished. Disgraceful miscarriage of justice and an example of collusion between government, business and police.

Good morning, the fundamentals of Lloyd's remain very good with regular dividends (quarterly) to commence in the near future. It is one of the most solid income streams you could consider as well as being attractively priced. The unknown is which direction the share price will go, indeed will we even leave on October 31st. If you can answer that question there are hundreds of investors on here that would enjoy hearing your reasoning.

We all have a choice to become a member of a political party and thus at some point have a say with regards to who becomes a party leader, or in circumstances that we face today, who becomes the next Prime Minister. Criticising this process is to a degree, criticising ourselves, as many of us could exercise our democratic right. But most choose not to and I myself am included in this enormous group.

What is dreadfully apparent is how the Lloyd's price has been near enough frozen for the last 3 years. I think today it is around 1p higher than it was the day after the referendum in 2016. Even with all the profits and dividends and the closeness of the end of PPI, it resists upward movement. All down to Brexit being still no further forward.

The sheer scale of the problem isn't just down to the intricacy of leaving, it's down to the quality, or otherwise, of our elected politicians. It's interesting how many gushed their praises for the electorates that elected them in 2017, but then chose to ignore these same electorates who voted to leave the EU. Something like 60% of labour constituencies voted to leave but only about 2% of labour MPs chose to abide by their electorates' wishes. Individuals like Caroline Flint have my respect for trying to carry out their instructions.

The greatest problem and virtually insurmountable issue that faces the UK is the we have no statesmen in politics at the sharp end. We have parties bereft of talent and lacking leadership.

I have been critical of AHO in the past but overall he's done a very good job of turning this large institution around. With Lloyd's moving into pension and investment planning, another income stream has opened. A great shame that politicians of all parties cannot see the great damage they are causing. When someone as inept and performs daily as a buffoon and yet he's the favourite for the highest public office in the land, I have to switch off and go back to living my life away from the cities. Thank goodness.

Quite interesting how "certain individuals enriched themselves" and Lloyd's are quite prepared to accept and pay the fine. It makes me wonder how many individuals enriched themselves during the PPI fiasco and yet the SFO are not remotely interested in investigating the perpetrators on the Boards of the various Banks who initiated and grew fat on the proceeds of this gigantic fraud. A very strange justice system and undoubtedly the "Old Boys" network is still alive and well.

Thank you Pillart. I still have a very frail aunt who remembers some of the crashes as she was a very young girl working for the Observer Corps in the Dales. She can still recognise a Dornier from a Wellington and tells very sad tales of the state of the young boys as they were recovered from the wrecks. They were all heroes and should have some sort of memorials.

I think these days you have to take on the task of gaining recognition for someone who history appears to have passed by. I've started doing talks and presentations in small towns and villages in the north and invariably I am asked if I would like payment of my expenses. One subject I have been doing a lot of work on is in regard to airmen of WW2 who lost their lives in air crashes around Grassington in North Yorkshire. They have no memorial and virtually no one remembers them, but 12 aircraft crashed and around 34 young boys died. I have written a story about this and visited and photographed most of the sites. When I finish presentations I ask if any donation they would care to make could go to this project and help pay for a memorial before history has been completely forgotten.

Share price wise, this is where we were three years ago immediately after the referendum. In the years since we have had share buybacks and and the approaching end to ppi compensation. And still the price stalls.

The current European Budget Chief has already planned for all countries' rebates to end prior to the next common budget for 2021 - 2024. So if we had stayed we would in fact have been paying more than the £350 million figure. Perhaps Remain would like to publicise and explain that fact.

A Prime Minister is only as good as the people who advise him/her and in May's case she appointed some pretty awful advisors. When she called the last General Election she honestly thought she could improve her majority and for a while this looked likely to be the case. Then came the dreaded Dementia Tax and the way it was presented. There was nothing wrong with the concept or indeed the need to address Social Care. Other governments had walked away from the subject. But May's concept was badly flawed and instead of being honest and accepting that aspects of the proposal were wrong, she refused to backtrack and instead dug herself an even deeper hole. Retired Tories were shocked that their party could consider taking away a nest egg they intended leaving for their children and as a consequence huge numbers deserted her and the Tories lost their majority in Parliament. All down to poor advice and Politicians who won't accept when they are wrong.

Similarly, the PM has allowed the Brexit negotiations to focus on the divorce bill rather than the long term trading arrangements. You could say this was due to May being a Remainer and this is undoubtedly true. However, bearing in mind how dependent the EU is on the UK's financial contribution, we had plenty of negotiating muscle to say we will set our stall on leaving on WTO terms which is how most trade is conducted, and are prepared to negotiate the divorce bill once the trading arrangements have satisfied both sides. Instead we rolled over and behaved like a lap dog.

Throughout the last three years there has also been continual complaints from the Remainers that a second referendum was needed as the Brexiteers didn't know what they were voting for. Effectively these people were calling those who voted to leave thick or stupid. But the real damage and mistrust has been in Parliament where great swathes of MPs have refused to follow their constituents' wishes. This is where the anger really is and why the Brexit party is doing do well. People who have been ignored have been given a voice and this is not opportunism as some commentators should claim regarding Nigel Farage. This is someone who recognises that the electorate is in dander of being ignored at a seminal moment in history. Most people who voted for Brexit have remained quiet and law abiding, at the same time watching and wondering how people who didn't like the outcome could be given such voices. Now, at last, the Brexit supporters have someone who understands their mood. It says something that most other MPs don't have this level of understanding.