We did have a very busy year in the insurance sector last year, very busy.... so no doubt this will affect insurers profits in general to some extent
But I agree its BAU cf CHC 2011
disclaimer no assoc with TWR at all.
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We did have a very busy year in the insurance sector last year, very busy.... so no doubt this will affect insurers profits in general to some extent
But I agree its BAU cf CHC 2011
disclaimer no assoc with TWR at all.
Still no Imputation credits on the up & coming 1 Feb 23 dividend
Wonder how much longer to go until TWR get to massage the taxman's hand with some coin ? :)
Insurers begin counting cost of Cyclone Hale
https://www.stuff.co.nz/business/130...f-cyclone-hale
update from tower ?
Some back of the envelope calcs... figures showed market share for IAG at 50% compared to TWR at 7% (though these are older probably still close enough for this stage)...
If IAG had 181 calls as per your linked article... TWR could have had less than 24 calls in relation to this.
Many could be call outs for drying carpet and patching leaking roofs. Some may be larger but will take time for loss adjusters to confirm.
As with any large event, we will need to wait a couple of weeks once the data is more settled and provisional adjusted costs are closer to reality then we will probably get an update. However as per above doesn't mean we will get a material change update.
Storms happen every year.
Interesting price action today. Share went ex 4c dividend today but rose 3c on reasonable turnover. Puzzled as to why someone would wait until today to buy. Maybe they were expecting a fall larger than the 4c dividend and were disappointed.
Poet - It was definitely out of whack as you say, but the market has corrected the mispricing subsequently.
only matter of time before its back to 75c .... performance of aussie insurance stocks has been good of late so demand is there to buy
Well this might be a big hit for Tower.
Auckland has really been hit hard
The ASM Notice has now issued for Tuesday 28 February so my guess is we will get an update at or immediately prior to that occasion. A few cars will need to be written off, and a small number of homes have been subjected to flooding today as TV news tends to exaggerate the overall circumstance. I really hope those affected are comprehensively insured, despite including TWR in my portfolio. Events like today are actually good for future business, and demonstrate that even in harder economic times folk should not risk their major assets by foregoing cover.
Yes, there will be claims but I doubt they will aggregate to be material. However the weather does seem to be more extreme and impactful than in the past. But insurers have the ability to reprice every 12 months to maintain margin if things start going south. And risk-based pricing will kick in going forward where properties are flood prone, to mitigate subsequent exposures.