Universal Insurance Company PLC and Investment & Allied Assurance Company PLC

[newton]

Fantastic.

Thats some soothing news there - GlobeRe i mean.

Cheers!

[pesadilla]

Originally Posted by chymex

I do not think that any Insurance company that was certified in the last exercise should be considered "too small" to handle any amount. I believe we are bound to see the kind of revolution that happened in the banking industry repeat itself in the insurance industry very very soon. Who would have believed that First Bank with its "Metusellah age" would be contesting with the likes of Zenith, and Intercontinental over who is bigger? Who would have believed that Standard Trust Bank would have swallowed up the almighty UBA?

I believe its a matter of vision and strategies - thou shall not underate any of these Insurance folks cos the race has just begun

how far can you run when you are overweight? 16billion shares no be joke oh.
what is universals profit margin? even some banks with close to or over 20billion shares are thinking of share reconstruction.to stay on the race they must do something about the overbloated number of shares.

[hispy99]

Universal Insurance targets N0.625 Billion PAT for 2008. The company has 16Billion shares oustanding and currently trading @ N2.96, giving a PE of 75. Compay targets N1.2 billion PAT in 2010 and using this figure, PE is 38 now.

The Punch: Universal Insurance aims for N3bn premium

[Gucci Rufus]

As at today, after trading Universal Insurance is N3.10k. Is it still good buy for short term?
I would appreciate anybody in the house for quick response.

Thanks.

Urgent.

[Netpreneur]

it would be a good buy...they are coming out soon for PO...buy now and sell after the offer...very good for short term...

Cheers!

Netpreneur

[hispy99]

Originally Posted by Netpreneur

it would be a good buy...they are coming out soon for PO...buy now and sell after the offer...very good for short term...

Cheers!

Netpreneur

If it is indeed true that they are doing a PO and you are in for the short term, I would advise to buy and sell BEFORE the PO. Universal has 16billion shares outstanding with an estimated N0.625 billion PAT; how far do you think the share price will climb, even though the NSE is behaving very irrationally these days?

For me and my house, we are steering clear of Universal. Did you see how many shares were traded in the last 2 days, almost 900million shares were traded today

[pesadilla]

there are lots of other fairly valued insurance companies with good fundamentals.why should one be bothering himself with universal.i bought the PP at N0.95K but still not comfortable,imagine with will happen every cert is verified and people starts selling.it will be worst than a crashing house.they must reconstuct or mop-up to scare away the beast.888millions sold today only,thats an eyes opener.for now na siddon dey look i dey.

[cooldudeng]

Am about picking up Universal in the secondary market, can someone please hlp. Is it a good or bad buy?

[hispy99]

Originally Posted by cooldudeng

Am about picking up Universal in the secondary market, can someone please hlp. Is it a good or bad buy?

Read the posts above and make your decision

[chymex]

Originally Posted by Netpreneur

it would be a good buy...they are coming out soon for PO...buy now and sell after the offer...very good for short term...

Cheers!

Netpreneur

@Netpreneur, what's the source of your information on this PO? I will be very surprised if Universal does a PO soon. We should be expecting a reconstruction first.

[mamaelona]

Originally Posted by pesadilla

there are lots of other fairly valued insurance companies with good fundamentals.why should one be bothering himself with universal.i bought the PP at N0.95K but still not comfortable,imagine with will happen every cert is verified and people starts selling.it will be worst than a crashing house.they must reconstuct or mop-up to scare away the beast.888millions sold today only,thats an eyes opener.for now na siddon dey look i dey.

I agree that their outstanding shares is too high to sustain its price. I will stay clear. Please insurance stocks have good fundamentals that you would recommend.

[mamaelona]

Originally Posted by pesadilla

there are lots of other fairly valued insurance companies with good fundamentals.why should one be bothering himself with universal.i bought the PP at N0.95K but still not comfortable,imagine with will happen every cert is verified and people starts selling.it will be worst than a crashing house.they must reconstuct or mop-up to scare away the beast.888millions sold today only,thats an eyes opener.for now na siddon dey look i dey.

I agree that their outstanding shares is too high to sustain its price. I will stay clear. Please which insurance stocks have good fundamentals that you would recommend.

[chymex]

Originally Posted by mamaelona

I agree that their outstanding shares is too high to sustain its price. I will stay clear. Please which insurance stocks have good fundamentals that you would recommend.

You may check LAWUNION, UNIC and CRUSADER at their current prices for long term considerations. I do not know of any insurance stock that has the right fundamentals for short and medium terms. However you can check if you can get any of the newly listed before they peak; Hallmark, Goldinsure.

[chymex]

It appears Universal Insurance has swallowed up Investment & Allied Assurance Company PLC on this thread. However has anyone got any useful info about when this company will be listing on the floors of the NSE?

[hispy99]

Originally Posted by chymex

You may check LAWUNION, UNIC and CRUSADER at their current prices for long term considerations. I do not know of any insurance stock that has the right fundamentals for short and medium terms. However you can check if you can get any of the newly listed before they peak; Hallmark, Goldinsure.

Getting newly listed stocks is almost impossible except you have a superman broker. It is either the daily volume is very small or when it is high, they are mostly cross deals

[MR. CEE]

Originally Posted by edwardaigbokhan

Please help me out i bought 100,000 units during the pp. would i be given 100% allotment because anything short of 100% would be toooooooooooo bad. HELP

Boy, any quantity you are give take it and move on NSE is full of uncertanity these days.

[chymex]

Universal Insurance seems to have lost its little steam today. I expect this stock to be headed down south in the coming days with an expected massive dumping by profit takers. 16 billion shares !!! I expect a support around N2.3 that will eventually lead to a 1 for 3 re-construction. Too bad

[julianbassey]

Any news on when I&A assurance coy will be listed?

[wanaj0]

Learnt that IAA will be listed by mid March.

[olobade]

Originally Posted by wanaj0

Learnt that IAA will be listed by mid March.

Any info on the allotment?