Effective engagement with all UK Shareholders in a post MiFID II world

In 1998 UK pension funds owned 21.7% of the average UK quoted company, and UK Insurance Companies owned a further 21.6%. By the end of 2014 these two percentages had shrunk to just 3.0% and 5.9% respectively. Overseas investors now dominate UK share registers, owning nearly 54% of all UK quoted …

Published: 13th February 2017


Results, deals and updates

Randall & Quilter's acquisition, Agency Programme Insurance, will fold easily into its Quest subsidiary in Bermuda. A manager of 28 reinsurance cells, reinsuring 8 US insurance and reinsurance companies for a range of risks, is in run-off and modestly but comfortably profitable. As a bonus R&Q will benefit from negative …

Published: 26th July 2016


A good finish to the first season

News this week from Helios Underwriting, (HUW), who reported a 33% rise in profits and a 43% rise in EPS to 12.23p on the back of a 43% growth in gross premiums written. The Board declared an implicitly repeatable dividend of 1.5p and a special dividend of 3.6p, based on …

Published: 5th June 2016


Investment managers, in threes

A recent dearth of news items on wealth managers / stockbrokers, and then like London buses three came along in a week. First, WH Ireland announced two contract wins for its Isle of Man office; then Wednesday brought a disappointing IMS from Rathbone, recognising that the first quarter had been …

Published: 23rd May 2016


Return to growth

Hiscox's pre-tax profits for 2015 of £216m were only 6% lower than those for 2014, quite impressive in a soft market. While some of this can be attributed to good fortune in terms of the relatively low level of natural catastrophes (Hiscox Re achieved a profit margin > 50% for …

Published: 7th March 2016


Plenty of seasonal cheer

Brewin Dolphin's latest year to end-September has not been an easy one and most forecasts were reduced in October (by which time they were, presumably, 'hindcasts'). However, after Charles Stanley's disappointing interims (see later) last week, there was a collective sigh of relief when "adjusted" profits were reported to be …

Published: 3rd December 2015