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32 Pages«<29303132>
KenyaRe FY19 - FY23 (Both Inclusive)
Ebenyo
#601 Posted : Monday, February 22, 2021 4:43:51 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,932
Location: Kitale
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion
Applause Applause Applause Sell and pay a dividend Applause Are there buyers at that price in this market?


The rich Indians from Kisumu or government though the process may take time to conclude.

Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill
There are many rich Luos who can buy it. Applause

Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. Shame on you

The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback.



https://www.businessdail...insurance-plaza-3299332

@vvs.
There you have it;
""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details."

They will not use the proceeds to payout a dividend and highly unlikely stocks.



The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash.
They pushed safaricom to declare an interim dividend.

https://www.businessdail...rastatals-money-3296618
Towards the goal of financial freedom
Ericsson
#602 Posted : Monday, February 22, 2021 5:44:13 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,523
Location: NAIROBI
Ebenyo wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion
Applause Applause Applause Sell and pay a dividend Applause Are there buyers at that price in this market?


The rich Indians from Kisumu or government though the process may take time to conclude.

Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill
There are many rich Luos who can buy it. Applause

Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. Shame on you

The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback.



https://www.businessdail...insurance-plaza-3299332

@vvs.
There you have it;
""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details."

They will not use the proceeds to payout a dividend and highly unlikely stocks.



The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash.
They pushed safaricom to declare an interim dividend.

https://www.businessdail...rastatals-money-3296618

Can't rely on this since they ain't sure they will get a buyer.
Safaricom is a different case since it doesn't have financial regulatory compliances
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#603 Posted : Monday, February 22, 2021 9:06:16 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,437
Location: Nairobi
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion
Applause Applause Applause Sell and pay a dividend Applause Are there buyers at that price in this market?


The rich Indians from Kisumu or government though the process may take time to conclude.

Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill
There are many rich Luos who can buy it. Applause

Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. Shame on you

The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback.



https://www.businessdail...insurance-plaza-3299332

@vvs.
There you have it;
""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details."

They will not use the proceeds to payout a dividend and highly unlikely stocks.



The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash.
They pushed safaricom to declare an interim dividend.

https://www.businessdail...rastatals-money-3296618

Can't rely on this since they ain't sure they will get a buyer.
Safaricom is a different case since it doesn't have financial regulatory compliances

Kenya Re is over-capitalized for the size of its business.
It is earning low returns on its cash (deposits, T-Bills).
The sale of the property is a matter for 2021.
The dividend is for FY2020.

BUT the IRA can block a dividend.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#604 Posted : Tuesday, February 23, 2021 12:23:43 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,523
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion
Applause Applause Applause Sell and pay a dividend Applause Are there buyers at that price in this market?


The rich Indians from Kisumu or government though the process may take time to conclude.

Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill
There are many rich Luos who can buy it. Applause

Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. Shame on you

The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback.



https://www.businessdail...insurance-plaza-3299332

@vvs.
There you have it;
""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details."

They will not use the proceeds to payout a dividend and highly unlikely stocks.



The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash.
They pushed safaricom to declare an interim dividend.

https://www.businessdail...rastatals-money-3296618

Can't rely on this since they ain't sure they will get a buyer.
Safaricom is a different case since it doesn't have financial regulatory compliances

Kenya Re is over-capitalized for the size of its business.
It is earning low returns on its cash (deposits, T-Bills).
The sale of the property is a matter for 2021.
The dividend is for FY2020.

BUT the IRA can block a dividend.



Proceeds is for strategic reinvestment meaning.
What is this strategic investment they want to pursue that they can't use the available cash?
Is is acquisition of a stake in a reinsurer?
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#605 Posted : Thursday, March 04, 2021 12:40:41 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,523
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion
Applause Applause Applause Sell and pay a dividend Applause Are there buyers at that price in this market?


The rich Indians from Kisumu or government though the process may take time to conclude.

Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill
There are many rich Luos who can buy it. Applause

Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. Shame on you

The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback.



https://www.businessdail...insurance-plaza-3299332

@vvs.
There you have it;
""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details."

They will not use the proceeds to payout a dividend and highly unlikely stocks.



The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash.
They pushed safaricom to declare an interim dividend.

https://www.businessdail...rastatals-money-3296618

Can't rely on this since they ain't sure they will get a buyer.
Safaricom is a different case since it doesn't have financial regulatory compliances

Kenya Re is over-capitalized for the size of its business.
It is earning low returns on its cash (deposits, T-Bills).
The sale of the property is a matter for 2021.
The dividend is for FY2020.

BUT the IRA can block a dividend.


Properties investment is 31% of their total assets.
This is above the 30% limit.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Elephant Man
#606 Posted : Thursday, March 04, 2021 3:46:44 PM
Rank: Member


Joined: 12/24/2008
Posts: 97
Would prefer that they paid a better dividend for 2020 rather than spending loads of money advertising 50 years in business on billboards around town as if they are manufacturers of some soap or cooking oil or some other FMCG! After all, when does the public walk into their offices to purchase re-insurance?
VituVingiSana
#607 Posted : Thursday, March 04, 2021 5:18:18 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,437
Location: Nairobi
Elephant Man wrote:
Would prefer that they paid a better dividend for 2020 rather than spending loads of money advertising 50 years in business on billboards around town as if they are manufacturers of some soap or cooking oil or some other FMCG! After all, when does the public walk into their offices to purchase re-insurance?
Applause Applause Applause You need to write to the MD! Or the Chairperson. Applause Applause Applause
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#608 Posted : Thursday, March 04, 2021 6:50:40 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,523
Location: NAIROBI
VituVingiSana wrote:
Elephant Man wrote:
Would prefer that they paid a better dividend for 2020 rather than spending loads of money advertising 50 years in business on billboards around town as if they are manufacturers of some soap or cooking oil or some other FMCG! After all, when does the public walk into their offices to purchase re-insurance?
Applause Applause Applause You need to write to the MD! Or the Chairperson. Applause Applause Applause


Laughing out loudly Laughing out loudly
Amekasirika yake yote
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#609 Posted : Thursday, March 04, 2021 7:42:15 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,437
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Elephant Man wrote:
Would prefer that they paid a better dividend for 2020 rather than spending loads of money advertising 50 years in business on billboards around town as if they are manufacturers of some soap or cooking oil or some other FMCG! After all, when does the public walk into their offices to purchase re-insurance?
Applause Applause Applause You need to write to the MD! Or the Chairperson. Applause Applause Applause


Laughing out loudly Laughing out loudly
Amekasirika yake yote
I support @ElephantMan 100%. Pay more in dividends. Or use the "billboard advertising" to reach out and support its clients/staff/brokers.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
watesh
#610 Posted : Friday, March 05, 2021 9:19:26 AM
Rank: Member


Joined: 8/10/2014
Posts: 866
Location: Kenya
Elephant Man wrote:
Would prefer that they paid a better dividend for 2020 rather than spending loads of money advertising 50 years in business on billboards around town as if they are manufacturers of some soap or cooking oil or some other FMCG! After all, when does the public walk into their offices to purchase re-insurance?


Ifikie MD!!!!Applause Applause Applause Applause
Elephant Man
#611 Posted : Monday, March 08, 2021 11:19:53 AM
Rank: Member


Joined: 12/24/2008
Posts: 97
For a re-insurance company that has enjoyed the benefit of compulsory cessions from Gava (i.e. the taxpayer) since its inception, minority shareholders have very little to show other than tiny dividends and the odd bonus here or there (cutting my cake into smaller pieces, then trying to cheat me by saying that I now have more pieces of cake - nkt)!

Advertising on billboards is a pure 'procurement play' - no perceived benefit to Kenya-Re or its shareholders - benefit is to whichever billboard company that they are using. Board and MD are not in the know? Question of competence, if not integrity.

Their CSR (Niko fiti) is towards persons with physical disability. I have no quarrel with that - in fact I fully support it. I just need them to know that right now many of their shareholders are financially disabled!

The share price for this company has underperformed (on a PE basis) it's peers in the industry as well as the market as a whole for many years! So what is there to celebrate about being in business for 50 years?

GoK is suffering without money at the moment so this is the right time that Gava either divests from it or gives it out to 'professional' managers to run, given the paucity of returns from the current bunch at the trough.
VituVingiSana
#612 Posted : Monday, March 08, 2021 12:04:18 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,437
Location: Nairobi
Elephant Man wrote:
For a re-insurance company that has enjoyed the benefit of compulsory cessions from Gava (i.e. the taxpayer) since its inception, minority shareholders have very little to show other than tiny dividends and the odd bonus here or there (cutting my cake into smaller pieces, then trying to cheat me by saying that I now have more pieces of cake - nkt)!

Advertising on billboards is a pure 'procurement play' - no perceived benefit to Kenya-Re or its shareholders - benefit is to whichever billboard company that they are using. Board and MD are not in the know? Question of competence, if not integrity.

Their CSR (Niko fiti) is towards persons with physical disability. I have no quarrel with that - in fact I fully support it. I just need them to know that right now many of their shareholders are financially disabled!

The share price for this company has underperformed (on a PE basis) it's peers in the industry as well as the market as a whole for many years! So what is there to celebrate about being in business for 50 years?

GoK is suffering without money at the moment so this is the right time that Gava either divests from it or gives it out to 'professional' managers to run, given the paucity of returns from the current bunch at the trough.

Applause Applause Applause Someone needs to send this to the board!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#613 Posted : Monday, March 08, 2021 12:08:32 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,523
Location: NAIROBI
VituVingiSana wrote:
Elephant Man wrote:
For a re-insurance company that has enjoyed the benefit of compulsory cessions from Gava (i.e. the taxpayer) since its inception, minority shareholders have very little to show other than tiny dividends and the odd bonus here or there (cutting my cake into smaller pieces, then trying to cheat me by saying that I now have more pieces of cake - nkt)!

Advertising on billboards is a pure 'procurement play' - no perceived benefit to Kenya-Re or its shareholders - benefit is to whichever billboard company that they are using. Board and MD are not in the know? Question of competence, if not integrity.

Their CSR (Niko fiti) is towards persons with physical disability. I have no quarrel with that - in fact I fully support it. I just need them to know that right now many of their shareholders are financially disabled!

The share price for this company has underperformed (on a PE basis) it's peers in the industry as well as the market as a whole for many years! So what is there to celebrate about being in business for 50 years?

GoK is suffering without money at the moment so this is the right time that Gava either divests from it or gives it out to 'professional' managers to run, given the paucity of returns from the current bunch at the trough.

Applause Applause Applause Someone needs to send this to the board!


DM through twitter or tweet to the chairman and the corporation twitter handle
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#614 Posted : Monday, March 08, 2021 12:11:53 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,523
Location: NAIROBI
Ericsson wrote:
VituVingiSana wrote:
Ebenyo wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion



A special dividend will be great

From past experiences I don't see this coming.

Kenya Re needs to rejig their portfolio.
They should reduce their holding in government securities.Going forward yields on them are going down which will reduce the interest income.
Their portfolio in quoted securities is very small at ksh.2bn yet assets is 53bn.
In my opinion a good level of holdings in quoted securities should be about ksh.6bn
From 2bn to 6bn (with total assets of 53bn) hardly moves the needle. 10bn minimum (20%) in equities (at low prices) in good firms and reduce the % exposure to real estate.

Trying to sell the Kisumu building is a good start.

In the current economic environment,they are finding it difficult to get a buyer.
Happens. No surprise there.

Let them sell it and give the special dividend
#TanoTena manenos. I doubt it will be sold at 1bn in 2021.


In that case they have two options;
-Lower the price
-Abandon the plan of selling it for now,hold it and continue earning rental income as they wait for economic conditions to improve


Sale has been shelved due to lack of buyers
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Elephant Man
#615 Posted : Monday, March 08, 2021 2:49:45 PM
Rank: Member


Joined: 12/24/2008
Posts: 97
So more money wasted on a failed process - advertising a building for sale.

There is more to this than meets the eye. 'Ordinary' Kenyans are praying and queueing and walking out of Kemsa/NYS and the like, with sack-loads (wheel-barrows?) of cash - and Kenya Re is having difficulty in selling a relatively new commercial building in KISUMU CITY for a measly Kshs. 1 billion? Next, you may hear of some other government entity wanting to put a building in the same location for Kshs.5b! But, there is no incentive or rent-seeking opportunity when buying/selling from/to another GoK entity...

I would actually not mind Kenya Re investing 0.0001% of their portfolio in some high risk venture - ETF, Tesla,Bitcoin, FX etc - they need to show some imagination, creativity, boldness and adventure in their portfolio management - the board will not be sacked if this type of investment went belly up!

Ericsson
#616 Posted : Friday, March 12, 2021 11:10:08 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,523
Location: NAIROBI
2.69 seems to be a resistance for the share price,it's unable to rise past that
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
obiero
#617 Posted : Saturday, March 13, 2021 4:48:18 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,878
Location: nairobi
Elephant Man wrote:
So more money wasted on a failed process - advertising a building for sale.

There is more to this than meets the eye. 'Ordinary' Kenyans are praying and queueing and walking out of Kemsa/NYS and the like, with sack-loads (wheel-barrows?) of cash - and Kenya Re is having difficulty in selling a relatively new commercial building in KISUMU CITY for a measly Kshs. 1 billion? Next, you may hear of some other government entity wanting to put a building in the same location for Kshs.5b! But, there is no incentive or rent-seeking opportunity when buying/selling from/to another GoK entity...

I would actually not mind Kenya Re investing 0.0001% of their portfolio in some high risk venture - ETF, Tesla,Bitcoin, FX etc - they need to show some imagination, creativity, boldness and adventure in their portfolio management - the board will not be sacked if this type of investment went belly up!


A fish rots from the head. I speak in code
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
Ericsson
#618 Posted : Saturday, March 13, 2021 10:29:35 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,523
Location: NAIROBI
The tenure of the MD is coming to an end this year.
He has served two terms of 5 years each.
He was appointed MD in April 2011
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#619 Posted : Monday, March 22, 2021 6:01:24 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,523
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Elephant Man wrote:
Would prefer that they paid a better dividend for 2020 rather than spending loads of money advertising 50 years in business on billboards around town as if they are manufacturers of some soap or cooking oil or some other FMCG! After all, when does the public walk into their offices to purchase re-insurance?
Applause Applause Applause You need to write to the MD! Or the Chairperson. Applause Applause Applause


Laughing out loudly Laughing out loudly
Amekasirika yake yote
I support @ElephantMan 100%. Pay more in dividends. Or use the "billboard advertising" to reach out and support its clients/staff/brokers.


Waah
The billboards are many,put on all the major highways in Nairobi.
Like ElephantMan has said,you might think Kenya Re manufactures and sells FMCG,soap,cooking or is a telco company like Safaricom,Airtel or Telkom kenya advertising its product/service.
Hii ni upuzi
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#620 Posted : Wednesday, March 31, 2021 8:44:05 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,437
Location: Nairobi
Leo ni leo.

Tutacheka ama tutalia?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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