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Federated National Holding Company Message Board

  • fabulouspoodle fabulouspoodle Nov 1, 2013 9:46 AM Flag

    Geeze, FNHC's quarter was far better than I expected...

    ....I was thinking maybe .28/.29 due to the huge increase in reisnsurrance expense...and they made about .40!

    Florida hurricane season basically over....and they said they are writing just over $3 million in new policies each week. Their tremendous growth just continues.

    Pretty amazing.

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    • I aggree,fabulous..... a very good quarter, with all the numbers moving nicely in a more profitable direction. However, from Q. 2 to Q. 3 of 2013, the profit per share went from .32 to .39. That's not yet super fantastic growth, though we should all be satisfied with it. One of the regular posters was hoping for .50 earnings this quarter. Patience is definitlely being rewarded I think we can see $12 per share by the end of the year, or surely in early 2014. The only thing to stand in the way are the budget battles in Congress, set for January 2014. And perhaps some overall correction of the stock market. -Scott

      • 1 Reply to scottr2958
      • Scott, I'm gonna disagree with you on that one. They made .31 last qtr....and going from .31 to.39 sequentially is super strong growth, an they did that while incurring the big increase in reinsurrance expense. Reinsurrance expense will stay flat for the next three quarters, but policy count will continue to grow rapidly.

        As for .50, I mean I was hoping for .29. I dont see how you could have modelled for .50....I mean we know what they made in q2, we knew the growth rate, and while its great on an annual basis, it doesnt add a ton sequentially; and we knew expenses, due to both reinsurance and employee count (as they mentioned in the current cc) would make expenses grow at a faster pace in the second quarter.


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