applying the expected decline in assets from implementation of AASB17 suggests a $1.36 drop in net tangible assets (NTA) that will put NTA below the current share price
1) the AASB17 presentation stated:
‘Liability for Remaining Coverage (LRC) replaces Unearned Premium Liability (UPL); the LRC includes an explicit allowance for future profits on existing policies, known as the Contractual Service Margin (CSM); and the Increase in opening liabilities due to inclusion of CSM in LRC is expected to reduce net assets by $180m to $300m.’
AND
‘No change to capital requirements or aggregate capital base expected on transition; and PCA coverage ratio unchanged’
2) the 1h22 results presentation reported NTA of $3.63/share (pre buy-back), suggesting a flow through 37.5% reduction of net assets will reduce net tangible assets by $1.36/share . . . . . suggesting that as at 30 June 2022 the NTA would have been $2.27 (pre buy-back).
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Last
$5.73 |
Change
-0.100(1.72%) |
Mkt cap ! $1.561B | |||
| Open | High | Low | Value | Volume |
| $5.80 | $5.83 | $5.72 | $3.899M | 677.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5392 | $5.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.75 | 5417 | 1 |
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| Last trade - 16.10pm 11/09/2025 (20 minute delay) ? |
| HLI (ASX) Chart |