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Groupama 6,375 perpetual callable 2024

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Hoover 2 november 2015 09:22

Thanks Steven. Good to read the following alinea because it addresses a bit my concern:

? Overall, in the first half of 2015, the European Insurance sector reported
solid results. Performance was strong across the sector with life insurance doing
particularly well. We expect the overall trend of strong performance to continue
through to year end. While the theme of low global interest rates is an issue that
needs to be monitored, is it now less critical a concern than it was earlier in the
year. We believe that life new money reinvestment yields are around 2.25-
2.50% while overall portfolio yields are in the range of 3.25-3.50%. Many life
insurers now have a good track record of maintaining prudent asset liability
management policies and we do not expect insurers to report material net
amounts of mismatched books. P&C companies have reported combined ratios
of 94-97% and this should continue into H2 15 results, enabling companies to
report good core operating performance for the full year.

Cootje 3 november 2015 15:35

Verzekeraars hebben het moeilijk met lage rente
Geldt dit voor Groupama minder omdat we opdit forum nogal enthousiast zijn

Royal Dutch Pim 3 november 2015 19:02

quote:
Cootje schreef op 3 november 2015 15:35:
Verzekeraars hebben het moeilijk met lage rente
Geldt dit voor Groupama minder omdat we opdit forum nogal enthousiast zijn

Ik zie maar 1 persoon die echt enthousiast is (Little Steven). Maar dat zegt niets, doe wat je denkt dat je moet doen.

Hoover 4 november 2015 08:13

Ik vind ze ook koopwaardig.

[verwijderd] 4 november 2015 21:05

There is no enthusiasm but only a true rational thought. I think that this yield (above 6,X%) is a buy opportunity.
Take a look at a similar bond www.boerse-stuttgart.de/de/CNP-Assura... This has better rating but lower coupon and it's longer (2025 callable)

Cootje 29 februari 2016 16:40

Wat vinden we momenteel van de Groupama. 6,375 en 7 875 lopen nogal uiteen in koers is de 7,875 cumulatief 1e jaarhelft 2015 was goed

[verwijderd] 22 maart 2016 10:34

Good financial 2015 for Groupama:

Business activity consistent with the strategy
Group premium income of €13.7 billion
Selective development in France and in International markets
Far-reaching partnerships, for the future
Solid technical and operating performance
Stable non-life combined ratio of 99.2%
Active portfolio transformation in life with a share of unit-linked in individual savings reserves of 20.7%
Continued control of general expenses in 2015
Significant growth in economic operating income to €163 million
An increase in net income of +43% to €368 million
A robust solvency margin
263% under Solvency 2

en.groupama-sa.com/finance/financial-...

Hoover 4 mei 2017 00:06

Hi Little Steven,

I see a jump in the Groupama's from around mid 90 to 109 today. At the end that's 16 points in a year + 6 points interest makes a decent 22%+ return on our investments. Congratulations!

[verwijderd] 5 mei 2017 17:10

quote:
Hoover schreef op 4 mei 2017 00:06:
Hi Little Steven,

I see a jump in the Groupama's from around mid 90 to 109 today. At the end that's 16 points in a year + 6 points interest makes a decent 22%+ return on our investments. Congratulations!

Hi Hoover, thank you ;) !
Nice to meet you.
I was sure about the deal some years ago.
Now this hybrid bond is rated Investment Grade at BBB- with stable outlook.
Take a look at FR0013232444 too.
See U later

Hoover 5 mei 2017 22:07

That one jumped from 104 to 116% Too late now. Happy i bought some risk when we discussed last year. Cheers , H

ONN 9 mei 2017 16:15

In die nieuwe 6% wordt nu 116.15 geboden. In de 6.375% wordt 112 gelaten.

YTC in het eerste geval 3.97, in het tweede 4.36. Waarom deze (volgens mij) anomalie ? Oke, de eerste heeft een vaste looptijd. Dat zal het wel zijn.

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