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Trenwick Group Ltd. (TWK) Message Board

  • cigarbat cigarbat Feb 23, 2003 2:13 PM Flag

    Here's what I think we need.

    1) We need to know what their present "capital & surplus" is in the US SUbsidiaries.

    2) Have they received any regulatory notice's on the US Subs?

    3) If they lose the Subs, what would be left? (book value & income)

    4) What income stream do they have coming in from Lloyds, Chubb and elsewhere? Is it enough to cover the "monthly nut" & anticipated debt payments.

    5) Is there anything else on the balance sheet that's weak? (receivables, other line items)

    With this info, we could better ascertain out position. RJ, the Ins. Companies can't go BK, only the Holding company can. But the Ins. Co.s can be siezed by regulators if they drop below certain levels.

    But, the Chubb & Lloyds Biz appear to be seperated out and doing well at this time.

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    • cigar-

      This was an interesting list. Thanks.

      Question about #4-

      "4) What income stream do they have coming in from Lloyds, Chubb and elsewhere? Is it enough to cover the "monthly nut" & anticipated debt payments."

      Exactly what 'nut' is this? If part of it is the runoff from '99-'01 policies, is that part covered by the reserves? Couldn't this come out of the reserve capital (thus the need for the reserve strengthening...) as opposed to operating income?


      s

    • cigarbat, great questions. Any speculation from you or anyone else on what the answers may be with what information we know to date. Be warned though that we have a poster that does not like personal speculation with a hint toward the positives.

 

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