Yeah, thats what I am assuming at present as well...im actually trying to value it...cyclical to say the very least...my finger is on the trigger & baulked at .53 until I saw numbers coming in and drew back down to .42 but missed it...if the DOW tops out then it has further to fall on both sentiment and the overall reaction of equities...but it is worth every bit of $5.25 going forward...but its cyclical....Sun is far more exposed than IAG with its Peril thesis so there is $350m that can be saved right there along with the Gov helping out....so $1.04 is subjective but probably not required.
IAG Price at posting:
$4.45 Sentiment: Buy Disclosure: Not Held
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