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IAG - Insurance Australia Group
- Thread starter slimtrader
- Start date
michael_selway
Coal & Phosphate, thats it!
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Re: IAG going through 200d EMA
Im still curious why it rebounded so quick? no news? forecasts are still bad?
Bobby said:Yep,
Sure looks good as I hold a heap , when they were on the way down recently I almost JUMPED, but now feel ok !.
This is one stock I can't stick a stop loss on, lucky I did'nt.
Bob.
Im still curious why it rebounded so quick? no news? forecasts are still bad?
RichKid
PlanYourTrade > TradeYourPlan
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A great article from the Australian on IAG and the Insurance market, well worth a read imo.
Heat on IAG to outgrow risk- Robert Gottliebsen
The Australian April 01, 2006
Heat on IAG to outgrow risk- Robert Gottliebsen
The Australian April 01, 2006
RichKid
PlanYourTrade > TradeYourPlan
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Looks like IAG will pay two fully franked div's within a few months, must have changed the normal cycle dates, I thought the next one wasn't to be til September. Must be new reporting periods or something like that as I doubt there'l be 3 div payments in one calendar year, doesn't look to be a special div:
Ex Div date---- Pay Date---- Amount
18 May 06---- 26 Jun 06----- 12.50 cents
02 Mar 06----- 10 Apr 06----- 13.50 cents
Ex Div date---- Pay Date---- Amount
18 May 06---- 26 Jun 06----- 12.50 cents
02 Mar 06----- 10 Apr 06----- 13.50 cents
RichKid
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RichKid said:
Looks like I guessed wrong, didn't even recall seeing this annct, it is a special dividend:
Julia
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Re: IAG going through 200d EMA
Hi 'Bob
Why is it you can't put a stop loss on IAG?
Julia
Bobby said:Yep,
Sure looks good as I hold a heap , when they were on the way down recently I almost JUMPED, but now feel ok !.
This is one stock I can't stick a stop loss on, lucky I did'nt.
Bob.
Hi 'Bob
Why is it you can't put a stop loss on IAG?
Julia
Re: IAG going through 200d EMA
Hullo Julia,
I use mental stops, because I'm undisciplined:
But I do use them when intuition clicks in.
There is a most foul feeling to see a stock reach down to hit your stop & take you out, only to immediately rise again.
Bob.
Julia said:
Hullo Julia,
I use mental stops, because I'm undisciplined
: But I do use them when intuition clicks in.
There is a most foul feeling to see a stock reach down to hit your stop & take you out, only to immediately rise again.
Bob.
Thought this one needed a bit of a plug.
I'm not convinced the XJO can rally from where it is .... however in regards to this stock I do see some potential brewing.
As usual the participants for the last year have made $ by writing options each side of the price. Still I do think at this stage a LONG position may present itself if a BIG WHITE can take out my red overhead resistance line
I'm not convinced the XJO can rally from where it is .... however in regards to this stock I do see some potential brewing.
As usual the participants for the last year have made $ by writing options each side of the price. Still I do think at this stage a LONG position may present itself if a BIG WHITE can take out my red overhead resistance line
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What are your opinions on this stock? Its high dividend caught my eye. Does anyone think they can keep paying that kind of dividend?
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Bobby please explain
3 veiws of a secret
3 veiws of a secret
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mime said:
Smart Investor magazine dated October 2006 go to article Ripe with Cash p.27 > 32 .The reporter Helena Keers exposes what she thinks ,will be top yeilds of the future .I personally have not read the article so don't 'flame me' for telling you so.
Lastly Huntley's tip for Stock of the Week was IAG ......sorry did not read into topic as I have Promina (PMN) in my portfolio.
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I think telstra has the highest margin bracket too. Does that mean it's a gun stock?
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No I was making a querry about your advice.
bigdog
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My money is on QBE bidding control for IAG
IAG has been noted as take over target in recent newspaper articles
It had been pleasing to see the increase in IAG SP
Go QBE
TheAge today
Promina confirms Suncorp bid
Email Print Normal font Large font October 12, 2006 - 4:59PM
Diversified financial group Suncorp-Metway looks set to secure one of the largest takeovers in Australian corporate history with its $7.9 billion bid for general insurer Promina Group.
The board of Promina - which owns brands such as AAMI and Australian Pensioners Insurance Agency - said it was ''favourably disposed'' to the conditional offer.
Brisbane-based bank, insurance and wealth management group Suncorp has offered 0.2618 of its shares and $1.80 cash per Promina share, valuing Promina at $7.87 billion.
The news pushed Promina shares into new record territory, with the stock jumping almost 19 per cent to an intraday high of $7.70.
The shares ended up 82 cents or 12.7 per cent at $7.30 as Suncorp lost 10 cents to $22.20.
If approved, it will be the largest takeover in the financial services sector since Commonwealth Bank's $9.1 billion purchase of Colonial Ltd in 2000.
Outside of that sector, the size of the deal compares with BHP Billiton's $9.2 billion buyout of WMC Resources in 2005.
Both insurers remained tight-lipped about the deal today short of issuing statements confirming the bid, after market speculation about a possible takeover pushed Promina shares more than six per cent higher yesterday.
Suncorp says the merger gives it an expanded national presence, improved geographic diversity and a significant boost to its presence in the wealth management and life insurance markets.
''The proposal is in line with its strategy to pursue value accretive acquisitions which meet its investment criteria, create value for shareholders and enhance earnings per share,'' Suncorp said in a statement.
The offer brings a sense of confirmation to months of speculation about a round of consolidation among Australia's top four insurers.
However, Suncorp itself was considered one of the more likely takeover targets.
With Promina eager to move ahead with the merger, the companies are progressing with due diligence and negotiations for a formal merger agreement.
But approval from Australian and New Zealand regulators could still remain potential barriers to the acquisition.
CommSec analyst Carlos Castillo said there were unlikely to be many rival bids emerging from the woodwork with competition constraints likely to keep most players at bay.
''This has been something that's been in the pipeline for quite a while,'' he said.
''It's (the market) obviously not factoring anyone else coming in and making a bigger offer and trumping Suncorp.
''I think that's pretty unlikely because Suncorp is the one that can extract the most synergies out of an acquisition of Promina.
''Any other potential bidders, if they want to pay more, then they're really going to be doing so for strategic reasons not because they feel they can get more value out of the acquisition than Suncorp.''
The move will have ramifications for the broader financial sector with Insurance Australia Group (IAG) - Australia's second largest insurer by earned premium behind QBE - standing to benefit from the transaction.
''If this takeover goes ahead then it's hard to see anyone being able to buy IAG without further competition concerns being raised unless they're an offshore person who has no participation in the market at the moment,'' Mr Castillo said.
Deutsche Bank analyst James Coghill said the disruption a merger was likely to cause Promina and Suncorp would improve IAG's attractiveness in the medium-term.
''In terms of alternative bids, we see limited scope given competition constraints for IAG, and lower synergy potential from QBE, Wesfarmers and Allianz,'' Mr Coghill said.
''Furthermore, both QBE and Allianz have the ability to acquire offshore at more attractive multiples.''
Bank of Queensland managing director David Liddy said the merger was good news for his bank.
''It's a positive from our point of view, we stick to the view that we are a bank and what we are trying to do is get more Bank of Queensland customers in Queensland,'' he said.
Mr Liddy said the regional bank performed well after Suncorp's $1.26 billion acquisition of general insurance business GIO from AMP in 2001.
AAP
IAG has been noted as take over target in recent newspaper articles
It had been pleasing to see the increase in IAG SP
Go QBE
TheAge today
Promina confirms Suncorp bid
Email Print Normal font Large font October 12, 2006 - 4:59PM
Diversified financial group Suncorp-Metway looks set to secure one of the largest takeovers in Australian corporate history with its $7.9 billion bid for general insurer Promina Group.
The board of Promina - which owns brands such as AAMI and Australian Pensioners Insurance Agency - said it was ''favourably disposed'' to the conditional offer.
Brisbane-based bank, insurance and wealth management group Suncorp has offered 0.2618 of its shares and $1.80 cash per Promina share, valuing Promina at $7.87 billion.
The news pushed Promina shares into new record territory, with the stock jumping almost 19 per cent to an intraday high of $7.70.
The shares ended up 82 cents or 12.7 per cent at $7.30 as Suncorp lost 10 cents to $22.20.
If approved, it will be the largest takeover in the financial services sector since Commonwealth Bank's $9.1 billion purchase of Colonial Ltd in 2000.
Outside of that sector, the size of the deal compares with BHP Billiton's $9.2 billion buyout of WMC Resources in 2005.
Both insurers remained tight-lipped about the deal today short of issuing statements confirming the bid, after market speculation about a possible takeover pushed Promina shares more than six per cent higher yesterday.
Suncorp says the merger gives it an expanded national presence, improved geographic diversity and a significant boost to its presence in the wealth management and life insurance markets.
''The proposal is in line with its strategy to pursue value accretive acquisitions which meet its investment criteria, create value for shareholders and enhance earnings per share,'' Suncorp said in a statement.
The offer brings a sense of confirmation to months of speculation about a round of consolidation among Australia's top four insurers.
However, Suncorp itself was considered one of the more likely takeover targets.
With Promina eager to move ahead with the merger, the companies are progressing with due diligence and negotiations for a formal merger agreement.
But approval from Australian and New Zealand regulators could still remain potential barriers to the acquisition.
CommSec analyst Carlos Castillo said there were unlikely to be many rival bids emerging from the woodwork with competition constraints likely to keep most players at bay.
''This has been something that's been in the pipeline for quite a while,'' he said.
''It's (the market) obviously not factoring anyone else coming in and making a bigger offer and trumping Suncorp.
''I think that's pretty unlikely because Suncorp is the one that can extract the most synergies out of an acquisition of Promina.
''Any other potential bidders, if they want to pay more, then they're really going to be doing so for strategic reasons not because they feel they can get more value out of the acquisition than Suncorp.''
The move will have ramifications for the broader financial sector with Insurance Australia Group (IAG) - Australia's second largest insurer by earned premium behind QBE - standing to benefit from the transaction.
''If this takeover goes ahead then it's hard to see anyone being able to buy IAG without further competition concerns being raised unless they're an offshore person who has no participation in the market at the moment,'' Mr Castillo said.
Deutsche Bank analyst James Coghill said the disruption a merger was likely to cause Promina and Suncorp would improve IAG's attractiveness in the medium-term.
''In terms of alternative bids, we see limited scope given competition constraints for IAG, and lower synergy potential from QBE, Wesfarmers and Allianz,'' Mr Coghill said.
''Furthermore, both QBE and Allianz have the ability to acquire offshore at more attractive multiples.''
Bank of Queensland managing director David Liddy said the merger was good news for his bank.
''It's a positive from our point of view, we stick to the view that we are a bank and what we are trying to do is get more Bank of Queensland customers in Queensland,'' he said.
Mr Liddy said the regional bank performed well after Suncorp's $1.26 billion acquisition of general insurance business GIO from AMP in 2001.
AAP
bigdog
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The Age today included sentence:
Rumours of a merger to come between IAG and QBE, or a potential takeover of Suncorp by Westpac, were rife. IAG climbed 2.7 per cent to $5.75 while QBE slid 20 ¢ to $24.70.
Article heading covered:
PROMINA'S likely acceptance of an $8 billion takeover bid from Queensland's Suncorp-Metway will create a merged entity to rival the size of St George Bank and may set off a round of consolidation in the financial services industry.
Takeover to create $20bn finance giant
Marc Moncrief
October 13, 2006
Rumours of a merger to come between IAG and QBE, or a potential takeover of Suncorp by Westpac, were rife. IAG climbed 2.7 per cent to $5.75 while QBE slid 20 ¢ to $24.70.
Article heading covered:
PROMINA'S likely acceptance of an $8 billion takeover bid from Queensland's Suncorp-Metway will create a merged entity to rival the size of St George Bank and may set off a round of consolidation in the financial services industry.
Takeover to create $20bn finance giant
Marc Moncrief
October 13, 2006
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