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CIX, CALLIDEN GROUP LIMITED
RADIO
post Posted: Aug 26 2008, 12:59 PM
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user posted image
Recent ShareScene.com Radio Broadcast (22/08/2008 08:30:00):
CIX - 2008 Half Year Results - Mr Nick Kirk, CEO

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.
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ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.
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RADIO
post Posted: May 27 2008, 11:29 AM
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user posted image
Recent ShareScene.com Radio Broadcast (22/05/2008 09:30:00):
CIX - CEO's Presentation Following AGM 2008 - Mr Nick Kirk, MD and CEO

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.
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ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.
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RADIO
post Posted: Feb 26 2008, 09:46 AM
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user posted image
Recent ShareScene.com Radio Broadcast (22/02/2008 08:30:00):
CIX - 2007 Full Year Results - Mr Nick Kirk, MD and CEO

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.
-------------------------------------------------------------------------------------------------------------
ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.
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samson
post Posted: Jul 18 2007, 03:42 PM
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In reply to: normc on Wednesday 18/07/07 01:02pm

And on TA, a clear breakout.

Cheers

 
normc
post Posted: Jul 18 2007, 01:02 PM
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Finally some real action in CIX. The acquisition of Australian Unity General Insurance has been well received by the market. SP up over 20% in past week or so.

This is the most recent and by far the biggest in a number of acquisitions.

The great thing with this deal is that it immediatly starts releasing some of the large amout of tax losses in Calliden's books. It also gives the potential to start utilizing the large store of franking credits in the books much earlier than would otherwise have been possible.

The franking credits are likely to encourage CIX to start paying dividends as soon as they are in a position to do so.

I think we can now expect big things from CIX over the next couple of years.

 
RADIO
post Posted: Jul 16 2007, 01:52 PM
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user posted image
Recent ShareScene.com Radio Broadcast (09/07/2007 15:00:00):
CIX - Investor Briefing - Mr Nick Kirk, MD and CEO

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.
-------------------------------------------------------------------------------------------------------------
ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.
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useless
post Posted: Feb 10 2007, 07:03 PM
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In reply to: smrt-guy on Thursday 02/02/06 07:19am

no - CIX does not pay dividends, that is quite correct.

the situation is though that CIX will not pay tax for MANY MANY YEARS due to the tax losses that it accumulated during The Bad Years as REAC. . . . .these tax losses are unlikely to be of much value at all to an acquirer but are of great value to CIX as separately listed entity [see pg 50 of last year's ANnual Report].

in addition, CIX has many millions of dollars of franking credits from The Good Years as REAC. . . .these are disclosed in the notes to the accounts in the Annual Report. . . [couldn't find on a quick flick through just now. . . .but I am sure that it will only take someone 10 minutes to confirm the precise details]. . . . the Franking Credits are of value to an acquirer as they survive and corporate transaction.

Please see the following that was posted in The Other Place recently regarding underlying business performance:


QUOTE

I think that they are only up on broad market sentiment for insurers. . . . coupled with the prospect of a takeover MAYBE ONE DAY at prices a little bit north of current trading price.

I had the opportunity to see a recent and very comprehensive survey of what Insurance Brokers (NIBA Members) think of the various underwriters.

CIX rated pretty highly on this survey - but the area where they rated higher than ANY OTHER underwriter was around price flexibility. While many brokers may see this as a positive. . . . means they can get their clients a better deal. . . . it is not necessarily a good thing for CIX investors.

Survey result made me think that that CIX will show pretty strong top line growth this year. HOWEVER, the bottom line will be dependent on actuarial assumptions around long term loss ratios in long-tail classes. . . . what ever the result looks like this time round, the "buying business through discounting" approach worries me a great deal.

It would have been OK to be the market leader on price three years ago - an insurer taking this approach would have won a lot of business at prices that would still have been pretty profitable.

HOWEVER, industry pricing in commercial lines has dropped away sharply in the last 24 months so that even insurers who are holding pretty firm on price are on ly just meeting their reasonable return on capital hurdles (say, around 15%). To the extent that CIX is undercutting these guys, it will be doing so for sub-WACC returns given that a) CIX WACC would be higher than for most insurers due to size issues, b) CIX cost structure would be worse than most insurers as Head Office overhead is spread over a smaller book.

l. . . . all up, the only real hope from here is a takeover. i doubt that there will be one any time soon. . . .but you never know.


 
smrt-guy
post Posted: Feb 9 2006, 09:32 AM
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Looks like I got set in this just in time. When is the report due? Could be a case of buy the rumor sell the fact. Time to adjust the stop-losses to keep this a free trade I suspect.



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stefoid
post Posted: Feb 9 2006, 09:21 AM
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really running into the report.

got caned due to its last report not showing rapid enough growth in premiums. Management said then that they had so many options that it was taking them longer than expected to sort through them.

If that wasnt just BS, then they should have a markedly more impressive report out soon, then we get the rerating.

If it doesnt....

 
User
post Posted: Feb 9 2006, 05:56 AM
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Yes I have been watching CIX over the past two weeks, mainly encouraged by the positive statements from some level headed people on here. My own research shows this could be a good buy. Technically it is starting to show some life. Could this be in anticipation of a good report as this will be the first year of full business or just about.

 
 


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