Fortunately due to buybacks we have about 30% less shares...

Fortunately due to buybacks we have about 30% less shares available today than in 2021.

Tuesday July 13, 2021: 412,514,184

Tuesday June 11, 2024: 291,300,726

The fall today is great for the current $100 million buyback. ($100m is $0.34 per share.)

10 May 2024: 'Based on Helia’s closing share price of $3.70 on 9 May 2024, the buy-back would represent areduction of 9.3 per cent of the Company’s issued share capital or around 27.0 million ordinary shares.'

ASX shows 7,989,879 trade today, $28,181,810. Be great if they bought a chunk of these.

From AFR this arvo:

'In 2020, Helia lost the contract to provide lenders mortgage insurance to National Australia Bank, which left CBA as its last major bank client. The NAB contract was picked up by QBE and had made up 12 per cent of its gross written premium revenue.

Helia has an estimated 34 per cent of the lenders mortgage insurance market, followed by QBE at 32 per cent, according to Morningstar. Other participants include ANZ LMI and Arch Capital, which bought Westpac’s lenders mortgage insurance business in 2021.'

QBE is much bigger with a market cap of $27B, compared to HLI $1.229B.

I read the announcement today as positive with HLI possibly picking up all CBA group brands: adding Bankwest and possibly something to do with their new Unloan platform.

Why would CBA use QBE who provide LMI to NAB? Surely CBA are not going to use ANZ or former Westpac (Arch).