Wilmington (WIL)

Sector:

Media

198.50p
   
  • Change Today:
      2.50p
  • 52 Week High: 200.00
  • 52 Week Low: 118.00
  • Currency: UK Pounds
  • Shares Issued: 87.56m
  • Volume: 93,430
  • Market Cap: £173.81m
  • RiskGrade: 198
  • Beta: 0.03

Wilmington enters new Singapore insurance tech joint venture

By Josh White

Date: Wednesday 14 Nov 2018

LONDON (ShareCast) - (Sharecast News) - Information, education and networking services provider Wilmington announced on Wednesday that Axco, its insurance information subsidiary, has entered into a 50-50 joint venture agreement with The Digital Insurer in Singapore.
The London-listed company said the joint venture, Axco Digital Insurer Ratings, would be based in Singapore and develop a new product that would provide insurance industry participants with information on "the new wave" of insurance technology providers that were becoming increasingly important in the industry.

It said insurance technology provided an "exciting opportunity" to enhance and, in some instances, disrupt traditional markets.

The challenge for insurance market participants was to assess the new entrants, and consider how they could best incorporate the new offerings into their current services.

Wilmington said the joint venture would provide syndicated research that would allow subscribers to assess the various insurance technology participants, their services, market propositions and business potential.

It said it would be investing up to $0.26m in the venture, of which $0.25m would be in the form of a loan to the entity.

The Digital Insurer was providing the technical capability to create the intellectual property on which the joint venture's products would be based.

Both partners would use their complementary presence in the global insurance market to leverage business development for the joint venture, Wilmington explained.

The agreement provided the option for Wilmington to subscribe for further shares in the joint venture in the future, allowing it to become a subsidiary once the venture had proved its commercial success.

In accordance with usual practice in such circumstances, the joint venture agreement provided that whilst the entity remained a 50-50 vehicle, any deadlock between the parties could be ultimately resolved through either party offering to sell its shares to the other or to buy the other's shares from it at the same price.

While that provision was uncapped in terms of the amounts involved, in the unlikely event of it being triggered, Wilmington said it would not be expected to be material in a group context.

"We are delighted to be setting up this joint venture with The Digital Insurer," said Wilmington group chief executive officer Pedro Ros.

"The product it will develop will enable us to provide a wider range of services to our current insurance clients as well as introducing us to new industry participants."

Hugh Terry, chief executive officer of The Digital Insurer, added that his company was "looking forward" to working with Wilmington and Axco to deliver the new products to the global insurance market.

"[Insurance technology] is an exciting and fast-developing part of the insurance ecosystem and together we believe we will be able to offer insurance participants unrivalled insight into how to adopt the new offerings in the most effective way."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Wilmington Market Data

Currency UK Pounds
Share Price 198.50p
Change Today 2.50p
% Change 1.28 %
52 Week High 200.00
52 Week Low 118.00
Volume 93,430
Shares Issued 87.56m
Market Cap £173.81m
Beta 0.03
RiskGrade 198

Wilmington Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
40.75% above the market average40.75% above the market average40.75% above the market average40.75% above the market average40.75% above the market average
74.55% above the sector average74.55% above the sector average74.55% above the sector average74.55% above the sector average74.55% above the sector average
Price Trend
28.80% above the market average28.80% above the market average28.80% above the market average28.80% above the market average28.80% above the market average
17.24% below the sector average17.24% below the sector average17.24% below the sector average17.24% below the sector average17.24% below the sector average
Income
47.79% above the market average47.79% above the market average47.79% above the market average47.79% above the market average47.79% above the market average
62.96% above the sector average62.96% above the sector average62.96% above the sector average62.96% above the sector average62.96% above the sector average
Growth
34.02% below the market average34.02% below the market average34.02% below the market average34.02% below the market average34.02% below the market average
25.93% below the sector average25.93% below the sector average25.93% below the sector average25.93% below the sector average25.93% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
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Wilmington Dividends

  Latest Previous
  Interim Final
Ex-Div 25-Feb-21 17-Oct-19
Paid 08-Apr-21 15-Nov-19
Amount 2.10p 5.00p

Trades for 07-May-2021

Time Volume / Share Price
10:14 87,759 @ 194.00p
16:29 25 @ 195.00p
14:52 650 @ 196.65p
13:42 2,500 @ 195.00p
13:42 2,496 @ 195.00p

Wilmington Key Personnel

CEO Mark Milner

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