something to watch, page-4

Excellent results. COR down to 101% (hey, they are almost making money on their insurance book!) and dividend fully franked. Dare I say it - no suprises really (although the net was slightly higher than the $7mm I was guessing at - but then again, the claims ratios were lower than I expected because of the cat-ceilings which I didn't take into account).

Was a great buy low 30's for anyone who took a punt. Div/yield (pre-tax) around 5%, PE now almost in line with the market with room to improve (based on capital over-cover). Once CIX gets its capital working (to, say, 1.8 times), CIX should adjust to around 43/44 cents (once the dust settles.

IMO it won't be long before CIX is back to above 40. Still worth a flutter in the mid 30's.

Best regards
Kit