Greyinvestor
23 Dec 2014
Re: Happy Christmas Thanks for the idea; it's not often that something suggested is so obscure that I haven't even heard of it!I too have large holdings in LRE and AML, plus BRIT, NVA and BEZ. I like LRE best at todays prices, but would wait a while in the hope of adding at a lower price. This year must be a peak year for earnings in the sector.I'm fairly sanguine about CGL selling up, but I would really like to discover a new sector/macro call for the next decade. It was S E Asia fifteen years ago, and non life insurers five years ago. There must be a depressed market out there somewhere.Maybe it's cash for now........
Rusty Jock
23 Dec 2014
Re: Happy Christmas Grey ..... agree , looks like we just sit tight till this deal is done , and we have to find a new home for the cash .I have already opened new positions with Amlin and Lancashire , as soon as the Catlin news broke , and so I have retained my sector exposure and the high yield . Like you I much prefer Catlin to both these . I dont normally suggest shares in case my punts go wrong , but maybe take a look at TPOG - Third Point Offshore Investors IT , the UK mirror of the US hedge fund run by Dan Loeb . It is off the radar for most folk , but it pays a 5% div once a year and has been a steady modest riser all through 2014 . I also like the fact that it seems quite resilient to market instability in as much as it did not fall when the markets corrected in Oct and early Dec . Divs are paid gross as it is registered in Guernsey , and it is about to go ex div very soon . A strong US $ should also provide a tailwind for the SP in 2015 , especially if Sterling weakens due to election uncertainty . I have held TPOG for over a year , and I am continuing to add as it seems to offer a steady 10% plus pa total return without the volatility of equity markets . Merry Xmas to all .
Greyinvestor
23 Dec 2014
Happy Christmas Happy Christmas everyone. This has been a good board that has grown and grown since I first posted in 2009. CGL was quite a solitary board at that time (price £3.10).It's nice to see the price drifting up, following the latest news. I'm assuming that this is getting close to being a 'done deal' at around £7.00. I'm disappointed to (potentially) lose Catlin. I love it when an owner really owns the responsibility for his business, post float, and retains a decent shareholding.I've been looking hard for a possible replacement, but nothing much is available at a decent price. I'm wondering if 2015 will end badly for what I believe to be a heavily overvalued market.I'd like to find a highly defensive sector, but I can't think of one that isn't overpriced. Ideas are welcome. I think that the real trick in 2015 will be to not lose money. Kind regards to all........
FRTEB
22 Dec 2014
Re: No offer yet Further thoughts...Think I'll miss being a Catlin shareholder.
FRTEB
22 Dec 2014
Re: Sale agreed of Box Innovation Group From the RNS:" CICL will receive cash proceeds of £85 million from the sale. Subject to relevant Board approvals, the Company expects to distribute to Catlin shareholders the portion of these proceeds that represents the surplus capital arising from its investment in BIGL. Details of any distribution will be announced following Board consideration in early January. "Looks like we'll get something but it won't be as much as the divi we were going to get. Not complaining though - anything will be a bonus.
PJ Foster
22 Dec 2014
Sale agreed of Box Innovation Group For £85 Million, that's about 20p a share - although what percentage of that we'll end up with as a special dividend I have no idea.Any thoughts?Cheers,
FRTEB
22 Dec 2014
Re: No offer yet Private investors can't really influence the outcome of this so I think the best thing we can do is sit back, enjoy Christmas, and see what the New Year brings. Selling at 699 would be a nice uplift from what CGL were trading at before the takeover talk but if a formal offer isn't forthcoming or is declined, then I'll happily continue to hold CGL and take the handsome dividends thankyouverymuch, safe in the knowledge that the business is in very capable hands. So the way I see it we either win in the short term or win in the long term. I'm happy with that!Good luck to all of us and have a great Christmas everyone.Bill
Greyinvestor
22 Dec 2014
Re: No offer yet Well spotted re Telegraph. I do wish that announcements would always be made publicly, rather than slipped out to reporters, though.........
seadoc
22 Dec 2014
Re: No offer yet Those will be the ones I got last Thursday at 14.30 for 361.36!So glad I am not only one with dyslexia.But in answer to your question: "However, it is understood that a formal announcement of the acquisition will not come until the New Year." and that according to Sunday Telegraph:[link]
ExpatBill
22 Dec 2014
Re: No offer yet I agree Greyinvestor. I'm not a big holder but think the offer is pitched too low and I certainly DON"T want any shares in a Yank company. I think the management could have done better. Maybe they wanted to get out before the brown stuff hits the fan - as it will - when all the fiat money printing results in the next blowup. Personally I'd rather be in CGL than a highly rated and small divi Yank share.
Greyinvestor
22 Dec 2014
Re: No offer yet Oops, I intended to type £6.50 !
Greyinvestor
22 Dec 2014
No offer yet I would just observe that no offer has emerged this morning. So, for now, nothing is certain. My own view is that the proposed offer is on the low side. I suspect that the Catlin board will be having a long, hard think about the likelihood of a better offer emerging from elsewhere. It is their responsibility to ensure that the interests of the shareholders are fully satisfied.All that we can do in the meantime is sit tight. I am not willing to sell in the market @ £3.50.
FRTEB
22 Dec 2014
Re: Feb Dividend I'm not expecting the divi, games - it was taken off the table when the XL deal was announced. So no divi unless the XL deal falls through. A possible sweetener though might come from the sale of Box, but that isn't certain and I don't think we have any figures for this yet.I'm not yet aware of any target date for the deal to be completed so we'll have to wait for further announcements in due course.
gamesinvestor
21 Dec 2014
Feb Dividend I expect we can forgo this now?Will it be a one deal before or around the next dividend date 19Feb?Games
gamesinvestor
21 Dec 2014
Re: selling xl shares "Alternatively, does anyone have any thoughts on ALM and KBT?"meth - Allied Minds looks like a massive bubble stock and personally I'd stay clear of it.It looks like the kind of company that positions itself as all important in terms of pushing IP out into the market, but having been involved in Venture Cap, the success rate is always over-egged.Games -- don't know about KBT
