TWR - Tower Insurance

[Dolcile]

Partnership with Westpac sounds positive

https://api.nzx.com/public/announcement/459524/attachment/453028/459524-453028.pdf

[Poet]

Yes, more good news for TWR.

Combined with the $15 million reduction in annual re-insurance costs and the pending OCR cuts, this should all be positive for TWR shareprice

[Dolcile]

I am really tempted to buy more.  TWR sitting at 2% portfolio allocation so room for a bit more. 

[Otago K]

Partnership with Westpac sounds positive

https://api.nzx.com/public/announcement/459524/attachment/453028/459524-453028.pdf

I'm going to be a bit of a devils advocate, as I do wonder if it will compromise the boundaries of whether Tower might decline cover in some instances on risk assessments for the property, maybe they will make it so unattractive in such cases and suggest the Westpac customer check other insurance providers. still think I see it as a positive to Tower as an invest-able stock at present but.?? Could be useful as a S&P agmt due diligence clause to get suitable Insurance cover for Westpac borrowers looking to buy a property??

[Left Field]

I am really tempted to buy more.  TWR sitting at 2% portfolio allocation so room for a bit more. 

It's all about DYOR and making your own decisions..... I suggest your decision should include consideration of your current av holding SP vs the current market SP and the resultant 'safety' margin you'll have if you buy more.

FWIW TWR is currently a tab over 15% of my portfolio with my av holding SP just under $1.00. This provides my arguably 'overweight' position with a useful 'safety' buffer cf the current SP and helps me sleep easy!

[Basil]

8% portfolio allocation.  Westpac deal has the potential to steal a lot of market share off IAG and is probably a bigger deal than the market has so far recognised.  Looking forward to January's bonanza dividend.  That'll be a real problem solver for the Christmas holiday credit card bill lol

[Shareguy]

Both Craig's and FB positive as are a lot of you here. I agree and have brought back in.

[alkebab]

The selling is unrelenting despite the increased interest lately... Each time we hit $1.75/76 another massive sell comes out of nowhere and pushes the prices down.

Salt has been selling to maintain balance, unsure about ACC. FB has been buying.

[Basil]

Both Craig's and FB positive as are a lot of you here. I agree and have brought back in.

Welcome back.  Huge dividend due in January.  Perfect timing to enjoy on your summer holidays.
I think Salt's selling has been unrelenting and provides an opportunity which you've taken advantage of.  Most other high dividend payers have already rallied a lot in the last few weeks, whereas this one hasn't.  A very smart move getting back in now in my opinion.

[Shareguy]

Welcome back.  Huge dividend due in January.  Perfect timing to enjoy on your summer holidays.
I think Salt's selling has been unrelenting and provides an opportunity which you've taken advantage of.  Most other high dividend payers have already rallied a lot in the last few weeks, whereas this one hasn't.  A very smart move getting back in now in my opinion.

Thanks Basil, no issue buying as plenty for sale, unlike some of the other names I'm trying to get.

[Plata]

Added more today. Surprised this has not run up much yet now that the yield wars have begun... If you take off the 12-15 cent fully imputed dividend due at FY this looks pretty cheap in the current market.

[Dolcile]

I also added a few more this morning.   The yield looks very attractive in a 2.5% OCR environment.

[Basil]

Yeah, its been completely overlooked as a dividend yield play as was GNE until a few days ago.  Mr Market will wake up sooner or later.  Fantastic buying in the mid 170's in my opinion.  (I am already well positioned)
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P.S. Bugger it, its so compelling I squeezed a few more into my portfolio.

[entrep]

Pretty sure the infinite selling at $1.75 is Salt. Should move once they are out.

[Dolcile]

Some big volume going through early doors.

1 million shares off market @ $1.75