highsnlows
09 Sep 2015
Which stock exchange If this take over goes through what stock exchange will the new shares be traded on? As I hold Amlin, it might be a reasonable idea to sell some for the immediate profit and hold the rest ( in the take over company) ..... but on what stock exchange?HnL
aspace
09 Sep 2015
Re: More consolidation The Mitsui deal appears to have been priced at a level that factors in future synergies by extracting greater value from a lower combined cost base. Also at a ceiling price that dissuades rival offers.
Geminic
09 Sep 2015
CaCapital Gains Since the deal is expected to complete in the first quarter of 2016, I hope will will be given the option of spreading our gain into the next financial year.
onedb1
08 Sep 2015
Odey on a hat trick of bad calls lol First Tungsten , then Plus ( both longs ) and here he was short lol !! Auch !! Goes to show that Hedge fund gurus are not always as good as many believe . Today's news made me laugh , sorry . I know its poor form but this Odey is calling quite a few poorly
S17
08 Sep 2015
Re: Lovely capital gain, but will now have substantial CGT liability after holding since Angerstein days. Dividend income will also be missed. Should have slowly moved tranches into an ISA!
Inatthetop
08 Sep 2015
Re: More consolidation Feel I've become a bit of a jinx. Bought BRIT on public offering and soon after - taken over. Bought and topped up Catlin until early this year - taken over. Been topping up Amlin until recently - taken over.Bought LRE with the proceeds of Catlin - so?Also holding Beazley and Hiscox so CGT could become an issue for me If there are any more moves.A little sad to be losing some very good companies from my portfolio and running out of ideas as to what to do with the cash.However, that said, I believe once the current furore has died down (as it did after BRIT and Catlin) prices may return to a more reasonable level and could be an opportune moment to invest in this shrinking sector.Personally I believe Beazley to be the the most vulnerable to a takeover with Hiscox (my largest holding) the last to succumb to the predators.All IMHO.
Guitarsolo
08 Sep 2015
Re: More consolidation Oh how annoying! I didn't have a chance to get back in as am waiting on funds to become available in mid-autumn. Never mind. It's only money!I don't think it will stop here though. LRE is a target (good underwriting but not-so-good results). Hiscox is good but very big. Beazley and Novae will be easier to snap up. I can't help feeling though that the buyers are paying quite a lot for it. Whilst Insurers/Reinsurers' figures are held down by investment returns in the low interest rate world, they are being helped enormously by a benign claim environment. There hasn't been a North American catastrophe for a while and there haven't been any particularly expensive earthquakes for a while to affect the London market. Anyway, well done for anyone who has pocketed a nice capital gain. Shame to lose yet another good divi payer from the ranks though. Guitarsolo
aspace
08 Sep 2015
I have also been in Amlin since 2010, and by buying on the dips it had become my second largest holding and attractive upward gradient over that time. So buoyed up by today's sudden gain. But downside is not just what else to invest in but this will trigger a sizable taxable capital gain for me. My largest holding, until today, has been Berkshire Hathaway on the NYSE, which as everyone on here probably knows is an insurance behemoth with significant add-ons to balance out the insurance cycle. It has been a steady performer, no pesky dividends to attract the taxman and unlikely to be taken over.
Warren Buffoon
08 Sep 2015
Re: More consolidation Yes, I was in Catlin too. . . .. . also currently invested in Beazley which has move on today's news.
FRTEB
08 Sep 2015
Re: More consolidation Me too - Catlin and now Amlin. Both solid dividend payers. Nice capital gains but finding an equivalent home for the proceeds isn't easy.
farmerdave
08 Sep 2015
Re: More consolidation was in catlin as well - runnng out of things to invest in !FD
II Editor
08 Sep 2015
NEW ARTICLE: Amlin plc Soars By A Third On 670p-Per-Share Takeover Offer "Shares in Amlin (LSE:AML) are around a third higher today after the company became the subject of a 670p per share all-cash takeover offer from Japanese sector peer, Mitsui Sumitomo Insurance Company. The deal values Amlin at around £3.5bn and ..."[link]
Warren Buffoon
08 Sep 2015
Ooops Ooops....I missed the press release saying the offer is 670p in cash.Ah well. Onto the next....
Warren Buffoon
08 Sep 2015
Re: More consolidation According to today's papers, a bid is in the offing from Mitsui Sumitomo.Had these since 2010 with an annual growth rate of 9%. . . . be sorry to see them go.
Guitarsolo
01 Jul 2015
More consolidation More consolidation in the insurance/ reinsurance market with ACE and Chubb merging to create another behemoth. I suppose their increased size will allow them to write bigger risks, or take bigger shares of risks, which might mean that the likes of LRE and AML are left fighting over those risks the big(ger) boys don't want. Or could that allow them to more nimbly pick the risks? Who knows?!Anyway, I was looking to sell AML anyway as I need to raise some cash and have had a good run on this one (+38% over a shade under two years). Today's rise just gave me the impetus to choose today to sell. Personally, I feel the sector will continue to consolidate which will likely be profitable for shareholders of those companies that manage to find a decent partner. But much like the latter stages of a night at the local nightclub, there's always one or two left with a partner you'd rather wish you hadn't met! GLTA who hold. I'll be back if the opportunity presents itself. Guitarsolo
