snowball82 Posted July 9, 2019 Author Share Posted July 9, 2019 Without revenue from the admitted space or acquisition, GMP sees $ 2.40 EPS for 2020. Likely a bit optimistic. We will see! Link to comment Share on other sites More sharing options...
snowball82 Posted August 12, 2019 Author Share Posted August 12, 2019 Q2 results : The $ 10 M reserve for inactive reinsurance segment has a significant impact but take a look to the USA growth. Revenues, new profitability and programs numbers. https://www.trisura.com/group/news Link to comment Share on other sites More sharing options...
snowball82 Posted September 4, 2019 Author Share Posted September 4, 2019 $ 40 million bought deal and more investment from the largest shareholder. https://www.newswire.ca/news-releases/trisura-group-ltd-announces-40-million-bought-deal-public-offering-and-concurrent-private-placement-up-to-12-million-894657861.html Link to comment Share on other sites More sharing options...
snowball82 Posted October 14, 2019 Author Share Posted October 14, 2019 New initiating coverage by Raymond James. Significant growth potential for Trisura specialty if they execute well. https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aTSU-2818796&symbol=TSU®ion=C Link to comment Share on other sites More sharing options...
snowball82 Posted November 1, 2019 Author Share Posted November 1, 2019 https://www.businesswire.com/news/home/20191031005921/en/Affirms-Credit-Ratings-Trisura-Guarantee-Insurance-Company Link to comment Share on other sites More sharing options...
snowball82 Posted November 7, 2019 Author Share Posted November 7, 2019 Q3 results https://www.globenewswire.com/news-release/2019/11/07/1943654/0/en/Trisura-Group-Reports-Third-Quarter-2019-Results.html Link to comment Share on other sites More sharing options...
gary17 Posted November 8, 2019 Share Posted November 8, 2019 up7% - congrats! Link to comment Share on other sites More sharing options...
snowball82 Posted November 8, 2019 Author Share Posted November 8, 2019 Thanks, I heard GMP Securities has a new report and boosts the target to $42 from $40. Unfortunately I didn’t see the new updates. Here some info about the cybersecurity space. https://us.res.keymedia.com/files/file/IBC_Cyber%20Report.pdf Link to comment Share on other sites More sharing options...
snowball82 Posted November 9, 2019 Author Share Posted November 9, 2019 The company add new strategics partners and growth. This is a new one with Jonas software than I found recently : https://www.portaltaxi.net/jonas-construction-software-and-trisura-insurance-forge-bonding-partnership/ .. and now than the acquisition is closed we can expect new revenues from the admitted market segment soon. Disclosure : Jonas is a CSU company. I own CSU and TSU. Link to comment Share on other sites More sharing options...
villainx Posted January 9, 2020 Share Posted January 9, 2020 I might be doing this wrong, but looking at the US shares (TRRSF), there hasn't been any activities for days. Did something happen or is this normal? Link to comment Share on other sites More sharing options...
snowball82 Posted February 6, 2020 Author Share Posted February 6, 2020 Stock price now 67 % higher since first post last year. New high at $ 45. Cormarks/ D. Kozielewicz / J. Fenwick seem very optimistic in yesterday report. Let see the execution from here and the consolidation plan for the USA. Link to comment Share on other sites More sharing options...
snowball82 Posted February 13, 2020 Author Share Posted February 13, 2020 "Highlights Gross and net premiums growth of 109.8% and 27.5% in Q4, and 104.7% and 23.5% for the full year supported by strong momentum in our U.S. business and continued growth in Canada. Net income of $4.2 million in the quarter, and $5.1 million in 2019, driven by strong underwriting performance and investment income in Canada and a growing contribution from the U.S. EPS of $0.47 in Q4 2019 and $0.69 in 2019, compared to $0.24 in Q4 2018 and 1.29 in 2018. Book value per share of $21.58, a 9.9% increase over December 31, 2018. Industry-leading results from our Canadian business, achieving a combined ratio of 82.9% in Q4 2019 and 87.8% in 2019, producing a 19.1% ROE for the year. Continued acceleration in our U.S. business, producing $95.4 million in GPW in the quarter and $1.5 million in net income. For the year, GPW of $263.9 million drove fee income of $8.0 million and net income of $3.8 million representing our first year of profitability. This is an outstanding result considering the business commenced last year. https://www.globenewswire.com/news-release/2020/02/13/1984248/0/en/Trisura-Group-Reports-Fourth-Quarter-and-2019-Annual-Results.html Corporate Development Following the close of the acquisition of TIC (formerly known as 21st Century Preferred Insurance Company) on November 1, 2019, Trisura continues to grow its capabilities with the intention of securing admitted licenses in all 50 states. Link to comment Share on other sites More sharing options...
Broeb22 Posted February 13, 2020 Share Posted February 13, 2020 Can I ask a dumb question, Snowball? How does it benefit you long-term to trumpet every quarter of Trisura’s performance? If you plan to buy any shares of TSU in the future, it would seem not over emphasizing their performance would benefit you more than trying to pump the stock. Link to comment Share on other sites More sharing options...
villainx Posted February 13, 2020 Share Posted February 13, 2020 How does it benefit you long-term to trumpet every quarter of Trisura’s performance? If you plan to buy any shares of TSU in the future, it would seem not over emphasizing their performance would benefit you more than trying to pump the stock. That kind of thinking would make this board useless, no? I assume y'all are super smart and already super rich, so sharing ideas is without ulterior motives. Link to comment Share on other sites More sharing options...
villainx Posted February 13, 2020 Share Posted February 13, 2020 How does it benefit you long-term to trumpet every quarter of Trisura’s performance? If you plan to buy any shares of TSU in the future, it would seem not over emphasizing their performance would benefit you more than trying to pump the stock. That kind of thinking would make these board useless, no? I assume y'all are super smart and already super rich, so sharing ideas is without ulterior motives. Link to comment Share on other sites More sharing options...
snowball82 Posted February 14, 2020 Author Share Posted February 14, 2020 Can I ask a dumb question, Snowball? How does it benefit you long-term to trumpet every quarter of Trisura’s performance? If you plan to buy any shares of TSU in the future, it would seem not over emphasizing their performance would benefit you more than trying to pump the stock. We are some here on this forum to believe we can help each other. Link to comment Share on other sites More sharing options...
Spekulatius Posted February 14, 2020 Share Posted February 14, 2020 Can I ask a dumb question, Snowball? How does it benefit you long-term to trumpet every quarter of Trisura’s performance? If you plan to buy any shares of TSU in the future, it would seem not over emphasizing their performance would benefit you more than trying to pump the stock. Do you believe that mentioning this stock here will boost TSU‘s share price. Based on my experience, that’s not the case, not even for small caps. Maybe for microcaps with very small float, trumpeting works in terms of temporarily increasing the shareprice, but even of that I am doubtful. Link to comment Share on other sites More sharing options...
Jurgis Posted February 14, 2020 Share Posted February 14, 2020 Can I ask a dumb question, Snowball? How does it benefit you long-term to trumpet every quarter of Trisura’s performance? If you plan to buy any shares of TSU in the future, it would seem not over emphasizing their performance would benefit you more than trying to pump the stock. Do you believe that mentioning this stock here will boost TSU‘s share price. Based on my experience, that’s not the case, not even for small caps. Maybe for microcaps with very small float, trumpeting works in terms of temporarily increasing the shareprice, but even of that I am doubtful. For microcaps and illiquid special situations, CoBF posting effect is real. There's sometimes a bump up for couple days at least. Posting quarterly results of companies IMO is a reasonable way to keep discussion alive and I appreciate it. Link to comment Share on other sites More sharing options...
snowball82 Posted February 20, 2020 Author Share Posted February 20, 2020 The stock price is up 100 % vs a year ago. Likely some analysts and investors think the US fronting platform still has large room for growth. From the letter to shareholders : "... Our goal in 2019 was to demonstrate the scalability and profitability of our U.S. fronting platform. Following a healthy ramp in 2018, we grew our team to 22 professionals, and bound an additional 15 programs generating $264 million in gross premium. We increased premium and net income in every quarter and anticipate growth to continue. As programs mature, earned premium and fee income accrue to our net income, driving profits from break even in the first quarter to $1.6 million in the fourth quarter, despite continued investment in infrastructure and costs associated with our acquisition. As we look to 2020 our focus will be on maintaining our growth trajectory in the excess and surplus lines, while introducing admitted capabilities through the acquisition and expansion of new licenses. Link to comment Share on other sites More sharing options...
Jurgis Posted February 20, 2020 Share Posted February 20, 2020 Trisura results so far have been great. There is a risk that they might write crappy business because of fast growth. I guess we have to trust them for now and monitor how things go. Disclosure: I have a position in Trisura. Link to comment Share on other sites More sharing options...
Broeb22 Posted February 20, 2020 Share Posted February 20, 2020 Trisura results so far have been great. There is a risk that they might write crappy business because of fast growth. I guess we have to trust them for now and monitor how things go. Disclosure: I have a position in Trisura. Agreed. It's a very new area of insurance for them. My take is that Trisura had historically been a solid underwriter in Canada, so they organizational discipline to have solid underwriting is there, though they may "learn" along the way through some losses. The other risk in my mind is that Canadian surety could get ugly. With the strength of real estate these days, I could see surety getting ugly if the Canadian economy hiccups. The data I found that went back to the CRE bust in the early 1990's showed peak combined ratios approaching 140% for two consecutive years, which obviously can dent capital ratios significantly if repeated. Link to comment Share on other sites More sharing options...
chrispy Posted March 19, 2020 Share Posted March 19, 2020 I have a limited understanding of surety insurance. This type of event if it was to prolong could be brutal on the surety lines, correct? Link to comment Share on other sites More sharing options...
whistlerbumps Posted March 19, 2020 Share Posted March 19, 2020 If construction really slowed in Canada, I think they could face some losses as construction firms faltered. Link to comment Share on other sites More sharing options...
Broeb22 Posted March 20, 2020 Share Posted March 20, 2020 I have a limited understanding of surety insurance. This type of event if it was to prolong could be brutal on the surety lines, correct? If contractors went bankrupt, yes. I found data stating surety combined ratio went to 140% in Canada in the '90-92 CRE crisis. Link to comment Share on other sites More sharing options...
snowball82 Posted March 20, 2020 Author Share Posted March 20, 2020 I have a limited understanding of surety insurance. This type of event if it was to prolong could be brutal on the surety lines, correct? If contractors went bankrupt, yes. I found data stating surety combined ratio went to 140% in Canada in the '90-92 CRE crisis. 30 years ago I was a young man. Maybe some things changed in this industry over time too. Link to comment Share on other sites More sharing options...
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