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NGHC

National General

$23.58

-0.03 (-0.13%)

08:37
09/03/19
09/03
08:37
09/03/19
08:37

National General to divest Euro Accident Health and Care Insurance

National General Holdings announced that it has entered into an agreement to sell its Euro Accident Health and Care Insurance Sweden operation to an investor group arranged by Impilo AB, a Swedish investment company focused on Nordic healthcare investments. Euro Accident Sweden provides health insurance, predominantly personal medical insurance or PMI which is an enhanced medical policy that supplements a national health care plan provided to large group and individuals. The estimated sale price for this transaction is $138M, which would result in an estimated pre-tax gain on sale of $3M, which is net of a negative realized FX translation impact of $22M. Since this transaction is based in Swedish Krona and will reflect certain closing adjustments, the final price and gain on sale will vary accordingly. The transaction is expected to close in late 2019 or early 2020, subject to customary closing conditions and regulatory approvals. Euro Accident Sweden net earned premium was $50M for the first six months of 2019 and $111M for full year 2018. Euro Accident Sweden's contribution to National General's pre-tax earnings was a loss of $3M for the first six months of 2019 and a pre-tax gain of $3M for full year 2018.

  • 04

    Sep

  • 18

    Sep

NGHC National General
$23.58

-0.03 (-0.13%)

03/20/19
COMP
03/20/19
INITIATION
Target $34
COMP
Buy
National General initiated with a Buy at Compass Point
Compass Point analyst Bijan Moazami initiated National General with a Buy rating and a price target of $34. The analyst cites the company's niche strategy in non-standard auto, RV, homeowner, and lender placed insurance business along with its "solid organic growth rate, successful acquisition track record and competitive cost structure". Moazami also contends that the National General valuation of 10.2-times his expected FY19 earnings is "extremely inexpensive" given the company's growth prospects.
03/20/19
03/20/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Lyft (LYFT) initiated with a Buy at DA Davidson. 2. KalVista (KALV) initiated with a Buy at Needham. 3. Peabody Energy (BTU) initiated with an Outperform at Credit Suisse. 4. Fox (FOXA) initiated with a Buy at BofA/Merrill. 5. National General (NGHC) initiated with a Buy at Compass Point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/12/19
RILY
04/12/19
DOWNGRADE
Target $26
RILY
Neutral
NMI Holdings downgraded to Neutral from Buy at B. Riley FBR
B. Riley FBR analyst Randy Binner downgraded NMI Holdings (NMIH) to Neutral from Buy with an unchanged price target of $26. The analyst cites valuation for the downgrade and highlights CNO Financial (CNO), Prudential Financial (PRU) and National General (NGHC) into the Q1 reporting season.
05/31/19
RILY
05/31/19
NO CHANGE
Target $36
RILY
Buy
National General price target raised to $36 from $33 at B. Riley FBR
B. Riley FBR analyst Randy Binner raised his price target for National General Holdings to $36 from $33 and reiterates a Buy rating on the shares. The analyst says the company's growth is "materially out of step" with its valuation.

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