SUN - Suncorp Group

[Calliope]

Re: SUN - Suncorp-Metway

I am guessing that IAG will lose some market share in the long term as people get angry about not being covered, whereas SUN will get more business at a higher premium. (Although I think they mis-priced this event).

You pay for what you get whether it's IAG or Suncorp.

 

[So_Cynical]

Re: SUN - Suncorp-Metway

IAG brands policies don't offer flood insurance as standard, whereas SUN does. Some SUN guy just went on TV to say they are covered regardless whether the water comes from above, below, left or right... there is no debate whether it's flood, storm water, man made error or act of God.

I am guessing that IAG will lose some market share in the long term as people get angry about not being covered, whereas SUN will get more business at a higher premium. (Although I think they mis-priced this event).

I had a bit of a chuckle tonight watching the news...there were some people complaining that they were having a little trouble getting money out of there insurance company because water damage from a rising creek/river is not considered to be a flood. one old guy got a shock after being told that his insurance cover was only good up to 15K as that was the maximum claim for flooding.

The camera panned down his letter from the insurance company to reveal that it was from Real insurance http://www.realinsurance.com.au/ people think that they are saving money by buying cheap insurance, and they are saving money right up to the time when they actually need to make a claim...then they find out that there decision to save money on a premium comes at a very real cost.

And SUN still holding well above $8 per share.

 

[Garpal Gumnut]

Re: SUN - Suncorp-Metway

I had a bit of a chuckle tonight watching the news...there were some people complaining that they were having a little trouble getting money out of there insurance company because water damage from a rising creek/river is not considered to be a flood. one old guy got a shock after being told that his insurance cover was only good up to 15K as that was the maximum claim for flooding.

The camera panned down his letter from the insurance company to reveal that it was from Real insurance http://www.realinsurance.com.au/ people think that they are saving money by buying cheap insurance, and they are saving money right up to the time when they actually need to make a claim...then they find out that there decision to save money on a premium comes at a very real cost.

And SUN still holding well above $8 per share.

I still reckon you'll get it below 8$, see my previous posts on SUN. Before it gets taken out by one of the banks.

gg

 

[oldblue]

Re: SUN - Suncorp-Metway

I still reckon you'll get it below 8$, see my previous posts on SUN. Before it gets taken out by one of the banks.

gg

Well, it would take another govt policy U turn - not out of the question of course - for one of the four pillars to be allowed to acquire SUN.

I don't see the regionals as potential predators.

 

[So_Cynical]

Re: SUN - Suncorp-Metway

(11th-January-2011)In very late today at $8.17 i figured the biggest SP falls happen on the day of the disaster/s so hopeful that theory proves to be correct over the coming days and weeks, this is a big average down for me in the expectation that over the next 6 or 8 months i can turn my long suffering SUN position around and finally get some closure. SUN is now my biggest single holding making up over 12% of my portfolio.

My average Price has come down to $9.06

A little less than 1 month later and im out today ($8.77) for 60 CPS profit....1 month for a return that's greater than the last 3 net dividends (18 months worth) combined. yet another no brainer/easy money trade.

Sure i was a little worried Yasi would spoil my party, and she did a little, but really was just a delay...a trade that should of taken 2 or 3 weeks took 4...i should clarify that i decided to exit in the belief that the SUN SP can go either way from here, another flood or hail storm and the SP could easy visit $8.05 again...so i decided to err on the side of caution, besides i think the market in general is toppy.

Now due to taxation concerns im not actually going to pocket any profit and in stead will leave the profit in by reducing my cost base, i will sell shares from this parcel and my most expensive parcel....so statistically 1 winner and 1 loser, leaving me with no overall capital gain but a slightly reduced cost per share for my long term SUN holding.

At least that's how it works in my head. :dunno:

 

[skc]

Re: SUN - Suncorp-Metway

A little less than 1 month later and im out today ($8.77) for 60 CPS profit....1 month for a return that's greater than the last 3 net dividends (18 months worth) combined. yet another no brainer/easy money trade.

Hind sight is a wonderful thing.

There was no way for you to know what sort of damage the Brisbane flood and Yasi would have done. The only way for that to be a good trade is that you know what their re-insurance policy coverage was like and what those limits were. This would only be a good trade if you worked out that, even if Brisbane flood and Yasi costed SUN $1B the company is still a bargain at $8.17...

Just because a trade worked in your favour doesn't mean it was a good trade... but I take it all back if you actually knew any of the above.

How can a trade not be a good trade even if it worked in your favour? For example, I am offered a bet on a single coin toss. Heads I win $10. Tails I lose $50. I accepted the bet, and head came out.... did I make the right decision just because I won $10??

 

[6figures]

Re: SUN - Suncorp-Metway

bought in at $8.32...

any thoughts in SUN? after floods and Yasi.. and now a drop today after NZ earth quake.. i knw IAG and SUN cover 60% of NZ however NZ covers first 100k for home damage..

SUN is also reporting their half yr profits tomorow... thoughts?

 

[So_Cynical]

Re: SUN - Suncorp-Metway

Hind sight is a wonderful thing.

There was no way for you to know what sort of damage the Brisbane flood and Yasi would have done. The only way for that to be a good trade is that you know what their re-insurance policy coverage was like and what those limits were. This would only be a good trade if you worked out that, even if Brisbane flood and Yasi costed SUN $1B the company is still a bargain at $8.17...

Just because a trade worked in your favour doesn't mean it was a good trade... but I take it all back if you actually knew any of the above.

Some how i missed your post skc...as a long time holder of SUN i knew that they have extensive single event disaster reinsurance...but that's not the main reason i took the trade, this trade was a little fundamental in that on the day of the Toowoomba flood, by mid afternoon it was clear to me that this major rainfall event was disastrous in size.

Now i figured that if i knew it was a disaster then other punters would also be a wake up to what was happening and as a result the SUN SP would be in free fall mode...i logged onto comsec thinking the SP would be below $8 and was stunned to see it down a little and trading at about $8.30..this was at about 2.45 PM or so.

I was at work so got busy with other stuff thinking ill look at the SP again in a half hour or so..checked back to see the SP down to around $8.20 and thought to myself it will sell off into the close....now it got down to about 8.10 at around 3.40 and started to rally a little over the next 5 minutes so i figured.

That's it...the panic sellers are finished and the smart money is moving in..i placed a buy order at 2 cents under the last sale, at about 3.55 PM and didn't know till i got home that i got filled, i was confident that SUN had found bottom before i took the trade....it was a good trade no 2 ways about it...the price action since i sold is making the exit look pretty good too.

 

[So_Cynical]

Re: SUN - Suncorp-Metway

One good thing about the market tanking over the last week or so is that the SUN dividend reinvestment price is determined by the average price over the 10 trading days commencing March 9.

At the moment its looking like the issue price will be around $8 maybe a touch under.

 

[fleetz]

SBKPB Maturity?

The SUN group hybrid CPS mature on 14th June 2013 and I am trying to confirm if the shares are redeemed for cash at their face value at maturity?

Anyone able to clarify what the maturity situation is?

Regards,

Fleetz

 

[kristianp]

Suncorp announces results that exceed expectations, increases interim dividend to 20c, yet the share price drops by 1.9%. What's up with that?

 

[McLovin]

I haven't read the result, just smh.com.au but this might be the reason...

The company’s result included a $63 million in gains from the sale of property and equipment, while the previous corresponding period included a $106 million loss on disposal of interests in various subsidiaries.

Read more: http://www.smh.com.au/business/earn...t-forecasts-20120222-1tmm9.html#ixzz1n3zVvJ7c

 

[So_Cynical]

I topped up my Suncorp holding today...based on the rationale that below $7.70 is/has been the buy zone over the last 32 months and i see no reason why it wont prove to be again.

Sun has an interesting 3 year chart, clearly trending sideways but with some quite large swings in both directions, overall some very choppy price action showing that buying in at any of the significant low points gives opportunities for profit.

I just keep buying the lows as i see em..just keep plodding along.
~

 

[So_Cynical]

(24th-May-2012) I topped up my Suncorp holding today...based on the rationale that below $7.70 is/has been the buy zone over the last 32 months and i see no reason why it wont prove to be again.

Sun has an interesting 3 year chart, clearly trending sideways but with some quite large swings in both directions, overall some very choppy price action showing that buying in at any of the significant low points gives opportunities for profit.

I just keep buying the lows as i see em..just keep plodding along.
~

Another one i got right (the last 2 buys anyway )....i sold about half my SUN shares today @ $9.11 ~ in a major readjustment of my SUN holdings, i got the recent dividends and have dropped out of the dividend reinvestment plan after 3 years of participation.

I have sold 6 of my 10 parcels including 2 losing parcels to reduce my holding price to just $6.63 while realising a 4.36% trade profit across the 6 parcels, will hold the rest of my shares for yield even though i have only 10% free carry...looking to enter again at under $8.

Its been an educational 4 and a half year adventure.

 

[Garpal Gumnut]

SUN has always good to me. I was in the original float, got some more via Promina holdings and usually accumulate when it retreats or recovers to $8.00

It has been doing very very well recently, the pick of the insurance stocks imo.

A long term chart over 13-14 years.

It would be nice to to see $24 again

gg

 

[piggybank]

 

[CptSmooth]

View attachment 55479

No follow through on that unfortunately. I took a medium term long option, not a great couple days for it so far

 

[clayton4115]

pretty bearish ?

 

[coolcup]

View attachment 56739

pretty bearish ?

Hi Clayton

Just for my benefit - what is the bottom indicator on your chart?

 

[Muschu]

This was/is a great stock but the volatility just got too much for an older person ..