Market's view on Personal Group
Published on April 2024
- Stock watchers express a mixed sentiment about the company’s current position, with some optimistic about recent improvements in insurance customer numbers and premiums.
- Positive momentum is noted in the two main business streams: insurance and Hapi, with insurance retention rates highlighted as robust.
- Critics discuss the high administrative costs and the impact of management consultancy fees, alongside concerns about rising central costs due to the new CEO’s one-off costs and wage inflation.
- There is uncertainty about the company’s strategy under new leadership, with some watchers feeling that the new CEO has yet to make a significant impact.
- Recent financial results are described as pleasing by some, with a notable increase in dividends and strong contract wins, signalling potential for future growth despite some operational challenges.
- The company’s cash position is deemed strong, adding a layer of financial stability.
- Discussions about the potential closure or downsizing of the ‘Let’s Connect’ division due to its underperformance and its impact on the group’s overall profitability.
- Mixed reviews on the new CEO and the effectiveness of leadership changes, with some watchers believing in the potential for improvement and others remaining skeptical.