ESUR

[m06een00]

Since 2000 this has been a moderately successful online insurance business that specialise in car insurance as well as other areas (home and travel) and also own GoCompare.

The sp is currently malingering near a 2 year low as motor insurance premiums have softened over recent months, and Barclays just issued a downgrade. The shares are now off 33% from a high of £3 last seen in July 2017, just a year ago and they now yield around 6,8% with a cover of 1.5. But that cover is higher than it's been for some years and I don't feel there's any imminent danger of a cut, certainly not a substantial one.

Just bought some for my portfolio and will top up on more weakness as long as no skeleton-in-cupboard is suspected.

[monabri]

I hold Direct Line and Admiral in roughly equal percentages. Whilst I'm attracted to the yield on both (especially when you add "specials") but am slightly concerned about the director selling of shares in the last 3 months.

Direct Line should be providing an update any time soon.

[idpickering]

I hold Direct Line and Admiral in roughly equal percentages. Whilst I'm attracted to the yield on both (especially when you add "specials") but am slightly concerned about the director selling of shares in the last 3 months.

Direct Line should be providing an update any time soon.

Snap monastic! I hold those two, equally weighted as your good self. I’m not looking to top up either currently, nor am I looking at any other newbies either.

Ian.

[idpickering]

Since 2000 this has been a moderately successful online insurance business that specialise in car insurance as well as other areas (home and travel) and also own GoCompare.

The sp is currently malingering near a 2 year low as motor insurance premiums have softened over recent months, and Barclays just issued a downgrade. The shares are now off 33% from a high of £3 last seen in July 2017, just a year ago and they now yield around 6,8% with a cover of 1.5. But that cover is higher than it's been for some years and I don't feel there's any imminent danger of a cut, certainly not a substantial one.

Just bought some for my portfolio and will top up on more weakness as long as no skeleton-in-cupboard is suspected.

Thanks for bringing this share to our attention. As I mentioned to monastic above, I’m not looking at any other insurers currently. Good luck with your purchase.

Ian.

[monabri]

Snap monastic! I hold those two, equally weighted as your good self. I’m not looking to top up either currently, nor am I looking at any other newbies either.

Ian.

My new name? Clearly a mismash of "monabri" + " fantastic"... ... ... .. or maybe I should be looking out for a new habit ....something full length and ...

https://www.andracor.com/en/p/monks-rob ... gJo9PD_BwE

[monabri]

Just a note.
Gocompare was demerged from esure 3 Nov 2016 and is listed separately on the LSE. ( That's what it says on the esure website).

https://www.esuregroup.com/about-us.aspx

[m06een00]

Re GoCompare demerger - I think I was reading and old article there. I'll see if I can dig it up again.

[idpickering]

Snap monastic! I hold those two, equally weighted as your good self. I’m not looking to top up either currently, nor am I looking at any other newbies either.

Ian.

My new name? Clearly a mismash of "monabri" + " fantastic"... ... ... .. or maybe I should be looking out for a new habit ....something full length and ...

https://www.andracor.com/en/p/monks-rob ... gJo9PD_BwE

My error monabri, sorry. Using an Ipad isn't like using my good old lap top. I make to many spilling mistaks with the former.

To get back on topic though, in the insurance/non insurance sectors I have Legal & General, Aviva, Admiral Group and Direct Line, so I think I've got those covered already so no need to look at ESUR.

Ian.

[monabri]

When gocompare was demerged from esure ownership, the esure shareholders received new shares in gocompare.

In the 2017 esure annual report it says

"Profit after tax from discontinued operations
The Group generated profit after tax from discontinued
operations (Gocompare.com) of £nil (2016: £209.7m). In
2016, the Group recognised a fair value gain on disposal of
Gocompare.com of £213.6m. Gocompare.com was demerged
from the Group on 3 November 2016"

The esure website now only makes reference to "esure" and "Sheila's Wheels"

[midgesgalore]

I bought Esure shares at IPO and then again 3 x later as I started to get interested in HYP.
When Go Compare (GOCO) was de-merged I received equal numbers of shares in both companies and now GOCO have paid two 0.7p dividends (less than 1.2% yield) although it's share price has increased 1.7X
Esure's total FY dividend was held last year at 13.5p and I don't know yet what the next interim will be in October.


Overall the combined value of ESUR and GOCO is more than I paid, about 12%, but that is just fortunate timing.

I am happy to hold despite holding Admiral too (non-life insurance)

midgesgalore

[Gengulphus]

My error monabri, sorry. Using an Ipad isn't like using my good old lap top. I make to many spilling mistaks with the former.

Or possibly its 'spelling corrector' makes them for you? (Just asking because this has all the hallmarks of such a mistake...)

Gengulphus

[idpickering]

My error monabri, sorry. Using an Ipad isn't like using my good old lap top. I make to many spilling mistaks with the former.

Or possibly its 'spelling corrector' makes them for you? (Just asking because this has all the hallmarks of such a mistake...)

Gengulphus

Must oddmit I thought the same Gengulphus.

Ian

[m06een00]

Ah well. Shame you guys didn't want to know. Your loss.

[monabri]

Ah well. Shame you guys didn't want to know. Your loss.

Sometimes you get lucky! Did you expect the bid?.....


I think "we" called it right on SAGA ( 210p at the time ...today 119p).

viewtopic.php?f=15&t=6713&p=74176&hilit=Saga#p72276


SI rules eh?

[PinkDalek]

Ah well. Shame you guys didn't want to know. Your loss.

How do you know people here didn't buy or already held, such as midgesgalore (as it happens, I insured my vehicle with them in March this year but missed your OP entirely, possibly as I didn't recognise the ticker)?

[midgesgalore]

Ah well. Shame you guys didn't want to know. Your loss.

How do you know people here didn't buy or already held, such as midgesgalore (as it happens, I insured my vehicle with them in March this year but missed your OP entirely, possibly as I didn't recognise the ticker)?

Ahem ... I sold the lot today at 277.4p but for a couple of reasons
1. It was reported on Monday there was an unsolicited offer of 280p for 100% shares of Esure and Peter Wood appeared to be all gung-ho the next day and ploughing £50m of his money into the venture with Bain Capital. He keeps his Job
2. Analysts accept 37% upside to the Friday closing price is the best offer they can reasonably expect
3. Results hastily presented and, home and car, business disappointing due to bad weather taking a £14m hit
4. Company not paying an interim dividend in October 2018.

http://www.lse.co.uk/sharecast-news-article.asp?ArticleCode=27870262&ArticleHeadline=Esure_agrees_12bn_takeover_by_Bain_Capital_weather_claims_dent_H1_profit

5. My current home re-insurance is a higher premium than expected - not due to tax increases as that was an issue last year
6. They mucked up my login details for their on-line portal and they had to set me up with a temporary password. (took ages I don't have)
7. at 2.6p away from the offer price I am happy with that as the earliest upside will be well into 2019; time will tell and I will move on

So not very HYPish bailing out but I made my money and also all the dividends as well as some interest in Go Compare

No regrets, anyway I hold Admiral at, more than, double the conviction level (pardon the pun).

midgesgalore

[idpickering]

No regrets, anyway I hold Admiral at, more than, double the conviction level (pardon the pun).

midgesgalore

Admiral Group Interims out today, which is of interest to me. as I ponder topping up my Admiral Group holdings as my chosen pick for this month. I'm at just under average capital value weighting with them currently.

Ian.

[idpickering]

Admiral Group Interims out today....

Ian.

See; viewtopic.php?f=15&t=13182

Ian.

[m06een00]

Ah well. Shame you guys didn't want to know. Your loss.

Sometimes you get lucky! Did you expect the bid?.....


I think "we" called it right on SAGA ( 210p at the time ...today 119p).

viewtopic.php?f=15&t=6713&p=74176&hilit=Saga#p72276


SI rules eh?

I wasn't expecting any bid. Just felt they were very undervalued (<200p) at the time. Have sold them now after holding for just a month. That's never happened to me before.

On the subject of SAGA I do wonder what's happening there. Are we going to see a 'Carillion type scenario' in the insurance sector? The market seems to be sniffing a rat there if the sp behavior is anything to go by.