Commercial in confidence I had a great conversation with Bob Neil this morning regarding the sale process.  He’s having daily discussions with interested parties. Despite all the competing forces we’re all currently facing, they are committed to progressing through the opportunity.  As I mentioned yesterday, the timeline will slip a little because of the environment.…

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Commercial in confidence Today we experienced another history-making event.  The RBA simultaneously cut rates by 0.25bp, announced it’s first quantitative easing program, including a 3 year funding facility to provide cheap loans to bank and printing money to stimulate the economy. Whilst we’re all waiting for the curve to ‘flatten’, let’s hope these fiscal policy…

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Commercial in confidence Thank you to the advisers who joined the teleconference today.   The weekly forum is an opportunity for you to ask questions and us to provide a regular (virtual) face to face update whilst the due diligence process continues.  There is no significant change to previous updates.  We’ll be in a position to…

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Commercial in confidence There is no material change from the update we provided yesterday.  Our time is spent ensuring information provided in our data room is accurate and current.  It’s an interesting process to go through (not one we want to do often!).  The information requested varies dependent upon the level of understanding of the…

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Commercial in confidence I hope everyone had a reasonably relaxing weekend, and your families are safe and healthy.  It’s eerily quiet in Sydney and I suspect the same for most cities. Today I provided ASIC with our weekly update.  They generally ask the same questions. i.e. Are we meeting our obligations, how is the sale…

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Commercial in confidence Thank you to everyone who was able to join us for this mornings webinar. By mid to late next week we believe a shortlist of preferred candidates will be determined and comprehensive due diligence will begin. As part of this process, myself and the leadership team will have regular meetings with PwC and…

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I think it was Winston Churchill who said “never let a good crisis go to waste”.  It’s fair to say our industry and closer to home, our community is a live example of this opportunity.  In the last 6 weeks, we (and by we, I mean everyone in the Madison community) has faced into bushfires, floods,…

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Thank you to those who joined us this morning for the Madison Investment and Insurance Committee economic and portfolio update. We will be distributing a summary of the questions and the corresponding responses by Monday. You can access the slides from today’s presentation here. The update which was sent out this morning can be accessed…

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Commercial in confidence I’ve received calls about the current market conditions and the lack of a bespoke communication from the Investment Committee. I know based on experiences of market volatility how important regular communication.  My apologies for the oversight and I have taken steps to address your requests.  The Investment Committee will be providing regular…

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Commercial in confidence Evening all, Letting you know, we have received a few indicative offers for Madison.  This is prior to due diligence and therefore only the starting point.  I’ve had conversations with a number of you regarding the adviser panel.  I will be discussing this with them tomorrow so you can commence with your…

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