RichardBB49
11 Dec 2015
Re: Tax residence I seriously doubt, the 12.5% Corporate Tax rate has been in force for more than a 1/4 of a century as have the various investment schemes to attract companies to the republic.THat's why you se so many american drug companies basing themselves there, along with Google, Microsoft, Dell Computers, the list goes on.
Greyinvestor
12 Nov 2015
Re: Tax residence This is only from memory, but I think that the UK government has been looking at measures to persuade insurers to come back to the UK without hurting them. Remember that a lot of their profit really is generated offshore......
savenierres
12 Nov 2015
Tax residence One question in my mind is about tax residency and the potential for adverse charges in future.Remember a few years back BEZ transferred its legal base from London to Dublin to benefit from lower corporation tax. It saved an amount equal to 10% of its profits. Its actual operational staff did not relocate it was just a change of brass plate location.I should say that most of BEZ's revenues arise outside the UK so I see no moral/ethical problem with deciding to have these taxed in Ireland rather than in the UK.However the question of corporate tax dodging is a hot topic at the moment and George O is talking about taking measures to tax companies which shift their profits around between tax jurisdictions. I wonder if BEZ might at some point get caught up in that? And if so what impact that might have?Just a thought.....
Greyinvestor
12 Nov 2015
good results Travelling today, so not much time to post, but good IMS today, I thought. Excellent revenue growth in a really tough market, only HSX has done better.Profits look fine, as does investment return.There will be bad claims years to come, but this stock remains an indefinite hold for me.It's especially nice to see quality revenue growth. I just hope that the management team remains stable and that the company does not get acquired.Silence on the divi, which is fine. Let the year pan out, the company is a good payer.Well done BEZ management.....
onedb1
08 Sep 2015
Moving nicely today Amlin related ? Great stock for the portfolio and not to trade . Just a buy and hold .
RichardBB49
01 Aug 2015
Re: Steady half year No a big thank you to you, I was looking for an Insurance share to go in my portfolio when I picked up on your comment on Beazley, I definitely owe you a drink as it has proved to be one of the best recommendations in a long time.
Greyinvestor
31 Jul 2015
Re: Steady half year Well done with BEZ. I have hankered after RIT for years, but never can decide when they offer good value.I think that BEZ is now very highly rated, but it's probably fair, given that BEZ and HSX seem to be the only really good non life companies left on the market. The divis have been simply stunning.I'm finding the current market really difficult. I foolishly bought back into PFL, only to get clobbered by a profit warning a few days later.......
RichardBB49
29 Jul 2015
Re: Steady half year Hi Grey Investor I now own for me a substantial holding of these shares, purely thanks to you, when you alerted me to them they traded at 210p, I bought at that price and the very next month got my special dividend of from memory of 28p.They have become a permanent fixture of my portfolio and I am starting to rank them alongside RIT Capital Partners which I bought years ago at 345p.
Warren Buffoon
24 Jul 2015
Re: Steady half year Nice to see, Grey.....I've had these for a couple of years now and to my amazement, they.ve nearly doubled.No plans to sell unless they cut the dividend.
Greyinvestor
24 Jul 2015
Steady half year A steady set of half year results.Premiums/Revenue +2% - modest, could be betterCombined ratio 86% v 90% - fine but hurricane season yet to comeRates (2%) v (1)% - better than most underwritersEPS 17.2p v 13.5p - excellent, low claims so farDivi 3.3p v 3.1p - excellent, plus 6%, lots of headroom if no big catastrophes in the second halfInvestment income $43m v $46m - fineBond duration 1.4 years v 1.8 years - goodPBT $154m v $132m - too early to judge how the year will turn out, hurricane season to comeNTA 156p v 135 - excellent, but this shares are highly rated at more than twice NTA.In summary; still an excellent underwriter, could do with stronger revenue growth though, this may become more of an issue if rates stay low.For me these shares are a strong hold. I have a decent sized holding and have no intention of reducing the size of it. As to buying, I wouldn't buy at this price. I think it has got well ahead of the underlying NTA. The going rate used to be 1.4 * NTA and then rose to 1.7* NTA. This puts fair value at no more than £2.65.
onedb1
27 May 2015
300p Am blessed , lately everything I touch seems to be good . Added a trailing stop to the trade , though will keep my 293s physical for the divi . 2 trades here one was a SB which is now 7p in the money ( and has a 2p trailing stop in the money ) and the other is a position for pure divi reasons. My SB I will obviously close for profit .After Tungsten yesterday this is another good score
onedb1
27 May 2015
Consistently getting upgrades I like this stock , divi and growth and good steady growth . One for an ISA or portfolio Targeting the gap close would be good for me at 314/315 with a view of re-testing the highs . These stocks deserve more visibility instead of the typical AIM stocks as the compounding effect on someones portfolio with divis re invested is a good earner in my view
Greyinvestor
07 May 2015
Classy IMS A class leading IMS today, I thought.Premiums +6% - goodRates (1%), bigger falls in some areas - much better than othersInvestment yield 1% - goodBond duration 1.6 years v 1.8 years - goodClaims 'in line with expectations'This may seem a bit dull, but it's very good in an appalling market.Well done the management; you continue to be a class act.But this is only my opinion. I am continuing my stance of these shares being an indefinite Hold.
albent
06 Apr 2015
Beazley yielding 7.21% Analyst estimates and intrinsic val for Beazley (LSE:BEZ): [link]
savenierres
18 Feb 2015
Re: Directors' sales 1) it is incorrect to suggest that all directors' shares have been acquired via options/bonuses and so on. I first bought shares in BEZ some years ago when I noticed the CEO buying £40k worth in the open market (from memory at 92p or so) and was delighted to buy at a lower price than he did. 2) Given that some shares have just been vested I'd say the most likely explanation is that directors have been given shares which will create a tax liability and have decided to sell just enough of their new shares to cover the tax bill. This is standard operating procedure for most directors in most companies. It does not betoken any diminution of confidence in the company's prospects.3) Check out director shareholdings - the CERO owns about 1.5 million shares - so selling a few thousand does not tell you anything at all about his expectations for future share price trends - if he were at all negative he'd sell rather more than this trivial amount.
