The only way they are staying level on a PCA multiple is by reducing the reinsurance coverage. They can reduce to zero but then they can’t pull that lever anymore. They are throwing off far more capital ( including $150mil a year income on investment portfolio) and require less for shrinking/ageing book. Ie. both numerator and denominator working against them re PCA multiple target . They will need to return more capital one way or the other. Ie. either dividends or buybacks.
Buyback? We don’t need no stinking buyback!, page-4
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Last
$3.90 |
Change
0.030(0.78%) |
Mkt cap ! $1.129B | |||
| Open | High | Low | Value | Volume |
| $3.94 | $3.95 | $3.89 | $518.2K | 132.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 6012 | $3.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.91 | 6831 | 20 |
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| Last trade - 14.03pm 29/07/2024 (20 minute delay) ? |
| HLI (ASX) Chart |