My understanding is also a bit outdated but I guess the principles we are commenting on are unchanged. I suspect the main issue though has to be for the Appeal to be heard and depending on the outcome the Pru might even be looking for new reinsurers because its regulators are surely going to look carefully at its reinsurers.
However whether any of this will impact on Chesnara of Phoenix I would not know. Time will tell.
Dod
Got a credit card? use our Credit Card & Finance Calculators
Thanks to Wasron,jfgw,Rhyd6,eyeball08,Wondergirly, for Donating to support the site
Chesnara (CSN)
Forum rules
Tight HYP discussions only please - OT please discuss in strategies
Tight HYP discussions only please - OT please discuss in strategies
-
- The full Lemon
- Posts: 16629
- Joined: October 10th, 2017, 11:33 am
- Has thanked: 4343 times
- Been thanked: 7536 times
-
- Lemon Slice
- Posts: 597
- Joined: February 9th, 2019, 8:24 am
- Has thanked: 31 times
- Been thanked: 258 times
Re: Chesnara (CSN)
Hi All, I used to hold CSN before I culled nearly all of my individual stock holdings and moved over to ETFs and ITs. CSN were just under 400 when I sold as I recall, cant say that I am unhappy that I didn’t stick around for their subsequent journey. The last 6 weeks seems to have been particularly bad, dropping from ~360 to ~280 ie about 22%. Not being a HYPer I find a 7.3% yield to be insufficient incentive to hold a stock suffering such a significant capital loss.
ATB
Pref
ATB
Pref
-
- Lemon Slice
- Posts: 597
- Joined: February 9th, 2019, 8:24 am
- Has thanked: 31 times
- Been thanked: 258 times
Re: Chesnara (CSN)
Hi All, Sorry I'm just experimenting with posting an images from imgur with this post, so have posted a chart of CSN vs the FTSE 100 which I created as an example. So hopefully at least vaguely relevant..........
Whoops didnt notice that this was the HYP Practical board (just responding to a post in New Posts) so apologies for the reference to HYPers in my previous post. No offence meant !.
Pref
Whoops didnt notice that this was the HYP Practical board (just responding to a post in New Posts) so apologies for the reference to HYPers in my previous post. No offence meant !.
Pref
-
- Lemon Slice
- Posts: 597
- Joined: February 9th, 2019, 8:24 am
- Has thanked: 31 times
- Been thanked: 258 times
-
- Lemon Half
- Posts: 8427
- Joined: January 7th, 2017, 9:56 am
- Has thanked: 1549 times
- Been thanked: 3445 times
Re: Chesnara (CSN)
"Chesnara plc ("Chesnara" or the "Company"), through its existing Netherlands-based closed book operation, the Waard Group ("Waard"), has agreed to acquire a portfolio of life insurance business in run-off from the Dutch branch of Belgian-owned Argenta Bank-en Verzekeringsgroep N.V (the "Transaction").
The Transaction will see the transfer of a portfolio of approximately 44,000 term and savings policies for a consideration of €29.15 million (approximately £25.0 million), to be paid in cash funded from existing reserves within Waard. The consideration represents a discount of 17% to the acquired portfolio's Solvency II own funds, calculated on a Chesnara-consistent basis, and a 22% discount to Chesnara's estimate of Economic Value ("EcV") as at 30 June 2019. On completion, the business will be integrated within Waard."
https://www.londonstockexchange.com/exc ... 18757.html
New board for CSN, here
viewtopic.php?p=266249#p266249
The Transaction will see the transfer of a portfolio of approximately 44,000 term and savings policies for a consideration of €29.15 million (approximately £25.0 million), to be paid in cash funded from existing reserves within Waard. The consideration represents a discount of 17% to the acquired portfolio's Solvency II own funds, calculated on a Chesnara-consistent basis, and a 22% discount to Chesnara's estimate of Economic Value ("EcV") as at 30 June 2019. On completion, the business will be integrated within Waard."
https://www.londonstockexchange.com/exc ... 18757.html
New board for CSN, here
viewtopic.php?p=266249#p266249
Return to “HYP Practical (See Group Guidelines)”
Who is online
Users browsing this forum: tacpot12 and 35 guests