Earnings and balance sheet have been pummelled in recent years due to a high level of catastrophes. A recent capital raising has restored the balance sheet. SP is now trading at about 0.9x book value on depressed (trailed) earnings. Management targets a through-the-cycle ROE of 12-14% which would warrant up to 2.0x book. Premium growth, cost efficiencies, lower claims expense and higher investment earnings (on expanded capital base) should see the company deliver its through the cycle ROE in 2-3 years time and lead to a doubling of the share price
Classic insurance turnaround
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Last
$1.16 |
Change
-0.010(0.85%) |
Mkt cap ! $432.6M | |||
| Open | High | Low | Value | Volume |
| $1.20 | $1.20 | $1.16 | $7.302K | 6.088K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 515 | $1.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.22 | 8726 | 1 |
View Market Depth
| Last trade - 15.32pm 15/11/2024 (20 minute delay) ? |
| TWR (ASX) Chart |
