Cost reduction and derisking the insurance portfolio in...

Cost reduction and derisking the insurance portfolio in conjunction with solid attempt to gain marketshare via insurance family disounts over next 12 months is the Bullish argument, the Bearish argument you've summarised.

Guess we wait and see. But I believe it's a solid approach, that with the derisking as a key factor may bring a few more SMSFs and instos on board; less upside and less downside is what I am betting on as being attractive in the medium term.

I can get out now for a very serviceable 7 month return; but I don't see too much downside risk here is why I think I'll wait and see what happens. Probably short term drop is my asx-casino guess, followed by steady up trend into 15s. It is bit like betting on Red or Black at the moment, IMHO; except that I see 15-16% potential upside and less than 10% downside offset by divvy.