₦airaland Forum

@ All,

Has Oasisins gone on TS? the seem not to have moved today
any info?

@All pls help me confirm the data below.
I just can't take my mind and eyes off this insuarance sector, I already have a whole lot of money there.
Pls help with the missing ones if you have the figures.

Pumping, AKTopgun, windywendy, everybody pls help me look am oh. Make e no be say na lai I don dey lai to myself since all these days.

INSURANCE N0 of Shares QTR Result
 AIICO                7,541,666,66           82,290,000 (1Q)
 BAICO                  247,500,000
 CONTINSURE 10,372,774,316 657819000(3Q)
 CORNERST 9,557,432,238 569689000(3Q)
 CRUSADER 3,325,257,107 576007000(3Q)
 CUSTODYINS 4,000,000,000 597200000(3Q)
 EQUITYASUR 6,949,767,966 150700000(3Q)
 GNI                1,500,000,000          132165000(3Q)
 GOLDINSURE 9,000,000,000
 GUINEAINS 5,400,000,000 172,300,000(2Q)
 HMARKINS 6,000,000,000
 INTENEGINS 16,509,670,584
 LASACO                7,323,313,227 865575000(3Q)
 LAWUNION 3,437,330,500 536907000(3Q)
 LINKASSURE 4,083,713,569 168,800,000(2Q)
 MBENEFIT 5,911,528,735 655697000(3Q)
 NEM                5,029,250,734 330000000(3Q)
 NIGERINS 3,950,861,642 354120000(3Q)
 OASISINS 5,000,000,000 Full year
 PRESTIGE 1,719,987,728 278000000(3Q)
 ROYALEX                3,359,898,835
 SOVRENINS 4,543,167,216 333100000(3Q)
 STACO       4,829,477,966 609691000(3Q)
 STDINSURE 3,469,689,000 430000000(3Q)
 UNIC                2,581,733,505 281853000(3Q)
 UNIVINSURE 13,971,581,169
 WAPIC                 4,218,969,999 572053000(3Q)

Got the info from Meristem. What is more confusing is that I just noticed they have different figures in two different documents. 7,323,313,227 in one and 14,178,211,979 in the other.
I strongly pray the former is the correct one oh.

@cj2008

cj2008:
lasaco has about 7 bill units,kant trace were u gt your info from.Meanwhile if i were u,i`ll stay put,Lasaco is is the most profitable insurance company in Nigeria.Ask someone

How did you arive at this conclusion? even with the former as n0 of shares they still have an Est. EPS of 0.16. where did you put coys like crusader, custodian, LawUnion, Prestige and co.?

Please tell me what I don't know.

AHHHH!!!!! @ all, Pumping, AKTopgun, everybody pls help me oh!
When did outstanding shares for LASACO become 14,178,211,979? oh my God I already bought a trailer load of that stock. all these hiding of fact and information even by NSE is the reason why fundametal can't work with NSE.
Chei! Nigeria with all it's ill in everything.

Please what do you guys advice? sell off very quickly and count my loss? or just abandon the money there? but for how long? pls just help with any advice. I bought last week at 5.30, with the above outstanding share I don't see it getting back to 5.30 anytime soon not to talk of profit.

@ Pumping and all,
Please confirm this data for me, NEM - PAT 3rd Qtr=330000000, n0 of Shares=5029250734, this gives me a forward PE of 55 @ current price which looks quite expensive to me.

Abeg save me from wrong data oh.

Yeah right oga topgun, my fears too.
but as you go for the former, I feel much better.
Anyway the result is still not looking bad sha, please confirm their outstanding share of 5911528735.
I just want to be sure.

[quote author=invisible! link=topic=31554.msg2038539#msg2038539 date=1205079598]So mutual benefits made losses or what?
I better start exiting my insurance positions shap shap! My broker will hear from me soonest.[/quote]They didn't make loss, just that they didn't make as much profit as they made previous year, despite having more turn-over (meaning they did more business).

wasere Pumping,

I too gbadun you. I just hope their share outstanding of 5911528735 that I have is correct.
I just no dey like make my spreadshet dey lie give me that's why i dey always wan confirm well well.

You still didn't put your email addy, anyway mine is dosky smyl at yahoo dot come, can you pls send me a mail for me to have your addy?

@ Pumping

I asked if you have the 3rd Qtr result of Mutual Benefit, guess you didn't see the post.

Can I have your email addy, I want you to look at something pls.

@ Pumping abeg can you help with 3rd qtr result of Mutual Benefit? it's not available on the NSE site

Thanks a lot Pumping, I go redo the maths

@Pumping,
Please what is the shares outstanding of Soverign? is it = 2,243,167,216 ?
if it is then I guess my calculation of the forward  PE is wrong, pardon me I no be accountant na to chop carry me come this side.
I devided the 3rd qtr result by 3 then X by 4 to arrive at an estimate of what their final PAT could be (444,133,333).
With that, estd. EPS=0.20 and forward PE = 28 @ today's price of 5.62

I beg teach me the accounting part wey I miss, I can figure out the rest arithmetically.

hmnmn, Oga pumping, thanks a lot.
What do you say to soverign trust? I think the stock is quite cheap at 5.62, another thing is I don't know which of their result shows the N333.1m profit, NSE website says it's 3rd qtr, I have another document that says second qtr result PAT=N333.1m. Do you know which is the truth?

Pumping Abeg, since you don position already, I guess you have nothing to loose.
Just give us hint on the two

Guys I hail oh. Abeg I wan ask 1 question. Does anyone know what is resposible for the upward movement of First Aluminium. I wan put money for there as the thing dey go up, but as I see, this na company wey dey make loss not profit.
Abi I no see well, from their 3 qtr result on NSE sight?

Elders in the house help oh with any info.

thanks pumping

pumping777:
I don't know the price at which Staco was bought. If it was towards the last bottom out price of around N5.51, don't worry at all. I think the depression here is due to the fact that it is due to go on TS soon.  However, if it ends up in TS at a reasonable low price, it will end up on net bid like Standard Alliance Insurance which went on TS at N4.69 and a forward PE of around 28.

A week or two ago the price dipped to around N5.51 enough to move the forward PE to around 32 just a bit higher than that of Standard insurance. I was waiting for further depression but it spiked. It is on the way down again.

These are the two insurance companies I was referring to in my posts last week or so. I believe these can be good canditates for post TS run.

Caveat Emptor.

Thanks a lot pumping, what a relief, at last I see someone who feel me. i was begining to think something is wrong somewhere that I don't know, cos my analysis is just what you posted.
Price 3Q Result               est. PAT            No of shares          EPS         PE Ratio   Status Recommendation
Staco 6 609,691,000 812,921,333 4,829,477,966 0.17 35.65 TS soon Buy now
StanAlliance 4.69 430,000,000 573,333,333 3,469,689,000 0.17 28.38 TS - 29/01/08 Buy now

This looks good enough to me now, so I was wondering. thanks jare.

blueband:
Since na only 1 bad eye she dey take look you,then no wahala.The problem na when she begin use her 2 bad eyes look you.

I no wan wait til she go begin look me with the 2 bad eyes, especially if there is something I can do to prevent that, the one eye too bad make e no reach two, two fit kill.

UBA Daily Stock bid attached

Staco has been on strong offer some few days now, does anyone know if the coy is having any prob? or is it just part of the general downward trend in the insurance sector?

Abeg help with any info, I adviced my collegue to buy and now she looks at me with 1 very bad eye everyday.
I bought some myself cos I felt the coy has good fundamentals, but i hope all is right. Others are loosing too but its own has been at maximum points daily.

Hi all,
I'm kind of new to the house, but I must comend you guys, it's really a nice house.

Can someone talk about what is happening in the insurance sub-sector. I want to plug into some of the companies but I'm trying to arrive at the best entrance.
Should I just buy tomorrow or do  you guys think the downward trend in price will continue for a while?