Royal Exch Insurance

[tgs]

Thus anybody have any info about this company, the stock has not been moving up for some time now any news?

[hispy99]

Originally Posted by tgs

Thus anybody have any info about this company, the stock has not been moving up for some time now any news?

REAN set to raise additional fund in capital market

Guardian Newspapers

[BLUEMONEY]

Originally Posted by hispy99

REAN set to raise additional fund in capital market

Guardian Newspapers

thanks for the info.

[billions]

ROYAL EXCHANGE ASSURANCE PLC
UNAUDITED FIRST QUARTER RESULT FOR THE
PERIOD ENDED MARCH 31, 2008
2008 2007
GROSS PREMIUM N899.419m N680.149m
NET PREMIUM N723.447m N558.974m
PROFIT BEFORE TAXATION N66.658m N67.940m
TAXATION (N19.9m) (N20.382m)
PROFIT AFTER TAXATION N46.661m N47.5m

[hispy99]

Originally Posted by billions

ROYAL EXCHANGE ASSURANCE PLC
UNAUDITED FIRST QUARTER RESULT FOR THE
PERIOD ENDED MARCH 31, 2008
2008 2007
GROSS PREMIUM N899.419m N680.149m
NET PREMIUM N723.447m N558.974m
PROFIT BEFORE TAXATION N66.658m N67.940m
TAXATION (N19.9m) (N20.382m)
PROFIT AFTER TAXATION N46.661m N47.5m

Not good at all

[Avocado]

Meristem securities quoted the shares outstanding for ROYALEX at 1.6018B as at Dec 2007; but I've seen 2.8186 elsewhere. Either way, the result isn't anything impressive.

[riskreturn]

At 3.38 Naira, price of Royal Exchange Assurance Plc was today placed on technical suspension by the Nigerian Stock Exchange (NSE). This was due to the receipt of an application for supplementary issue of 1 billion shares.

[hispy99]

Originally Posted by riskreturn

At 3.38 Naira, price of Royal Exchange Assurance Plc was today placed on technical suspension by the Nigerian Stock Exchange (NSE). This was due to the receipt of an application for supplementary issue of 1 billion shares.

which supplementary issue is this o?

[tgs]

Originally Posted by hispy99

which supplementary issue is this o?

thus any one, hv any idea of direction this stock might be heading to, i hv quite thousand of it and am worried if its going to go down more after the PO

[hispy99]

Royalex: Half Year June 30 2008

Royal Exchange Plc. Half-year Ended 30/06/08. Tunrover 08 N2.0b 07 N1.65b

Pbt 08 N116.71m 07 N88.51m

Taxation 08 (n35.0m) 07 (n26.55m)

Pat 08 N81.69m 07 N61.95m.

[lynste]

ROYAL EXCHANGE ASSURANCE (NIG) PLC: Audited result for the year ended 31st December 2007 shows Gross Premium of N2.7 billion as against N2.14 billion in 2006. Profit after tax stood at N543.64 million compared with profit after tax and exceptional items of N178.71 million in 2006. The Directors are recommending a bonus of 1 for 10. The date of closure of register of members was June 30, 2008.

[hispy99]

Latest Market Info
ROYALEX: CHANGE IN BUSINESS STRUCTURE

ROYAL EXCHANGE ASSURANCE PLC: FOLLOWING A CHANGE IN BUSINESS STRUCTURE, THIS COMPANY IS NOW LISTED IN THE "OTHER FINANCIAL INSTITUTIONS" SECTOR AND IS NOW KNOWN AS "ROYAL EXCHANGE PLC"

[hispy99]

Originally Posted by hispy99

Latest Market Info
ROYALEX: CHANGE IN BUSINESS STRUCTURE

ROYAL EXCHANGE ASSURANCE PLC: FOLLOWING A CHANGE IN BUSINESS STRUCTURE, THIS COMPANY IS NOW LISTED IN THE "OTHER FINANCIAL INSTITUTIONS" SECTOR AND IS NOW KNOWN AS "ROYAL EXCHANGE PLC"

At this rate, there will be no "pure" insurance companies in future..who is next?

i'm moving this thread to its new location

[threecrown]

Originally Posted by hispy99

At this rate, there will be no "pure" insurance companies in future..who is next?
i'm moving this thread to its new location

Because insurance companies are fast discovering other avenues in the financial world compare to the banks who are still competing for no one position. Very soon and just like in many western countries, the insurance industry in Nigeria will be stronger than the banking industry.

[hispy99]

Originally Posted by threecrown

Because insurance companies are fast discovering other avenues in the financial world compare to the banks who are still competing for no one position. Very soon and just like in many western countries, the insurance industry in Nigeria will be stronger than the banking industry.

I don't see that happening anytime soon. The dynamics of insurance is different in developed markets than Nigeria. However, where did you come up with the fact that insurance companies were bigger than banks? At least this is not the case in the U.S. to the best of my knowledge, AIG is the biggest insurer and it is not bigger than Citigroup or BofA

[billions]

ROYAL EXCHANGE PLC
PERIOD FOURTH QUARTER ENDED 30TH SEPTEMBER 2008
2008
GROSS PREMIUM N1.096b
PROFIT BEFORE TAXATION N144.995m
FORECAST TAXATION (N55.944m)
PROFIT AFTER TAXATION N89.051m

[BLUEMONEY]

Originally Posted by billions

ROYAL EXCHANGE PLC
PERIOD FOURTH QUARTER ENDED 30TH SEPTEMBER 2008
2008
GROSS PREMIUM N1.096b
PROFIT BEFORE TAXATION N144.995m
FORECAST TAXATION (N55.944m)
PROFIT AFTER TAXATION N89.051m

Is this thier End of year result ?????

Thier Normal End of Year used to be in December so I was Suprised when I saw this Fourth Quater at September or have the Changes undertaken in the company affected the end of years also ?????

If there is no changes, then this must be thier Third Quater Result .

Anyhow, The Result is Very Poor when compared with the Half year result and maybe that is why there is no previous figure above to compare this current Figures with.

[hispy99]

3QTR SEPT 2008

Gross Premium 08 N2.506B 07 N2.040B
PBT 08 N342.321M 07 N280.354M
PAT 08 N239.625M 07 N196.248M

[hispy99]

Turnover PBT Tax PAT
31-Dec-08 12 Mths N3,314,000 (N1,539,000) (N896,463) (N2,435,000)
31-Dec-07 12 Mths N2,740,000 N671,908 (N128,263) N543,645
20.95% - -

FIXED ASSETS:- 08: N610.1MILLION, 07: N635.3MILLION; NET ASSETS - 08: N6.1BILLION, 07: N11.9BILLION
PROPOSED BONUS ISSUE OF 1 FOR 10. CLOSURE DATE: 7TH - 9TH SEPTEMBER, 2009.
PBT EXCLUDES EXCEPTIONAL ITEM:- 08: (N1.4BILLION), 07: NIL

[hispy99]

GROSS EARNINGS PBT TAX PAT
N'000 N'000 N'000 N'000
30-Jun-09 6 Mths N2,142,000 N301,336 (N96,427) N204,909
30-Jun-08 6 Mths N2,081,000 N253,919 (N76,176) N177,743
2.93% 18.67%
FIXED ASSETS:- JUN 09: N475.3MILLION, DEC 08: N500.3MILLION; NET ASSETS - JUN 09: N8.1BILLION, DEC 08: N6.1BILLION