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KenyaRe FY19 - FY23 (Both Inclusive)
Ericsson
#721 Posted : Saturday, October 30, 2021 7:38:17 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,335
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Ericsson wrote:
https://youtu.be/fLgxkcD1Iz4


Operational challenges of 2021
-Slowdown in collecting premiums
-An increase in claims in certain lines of businesses.Certsin claims under policies which needs to be accommodated which resulted in claims costs going up.

Investment side;
-Slowdown in returns that they earn from investments such as bank deposits and other vehicles of investment.
-On the rental side of things,Kenya Re being a landlord.The market rates have had to go down.Things like escalation clauses on contracts have had to be removed or at least frozen for the time being.
A hit in the bottom line in terms of profitability.

Awful RoE.


Hope they subscribed/invested in the Family Bank bond and EABL Medium term note.
The two had attractive yields.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#722 Posted : Sunday, October 31, 2021 7:40:38 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,778
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ericsson wrote:
https://youtu.be/fLgxkcD1Iz4


Operational challenges of 2021
-Slowdown in collecting premiums
-An increase in claims in certain lines of businesses.Certsin claims under policies which needs to be accommodated which resulted in claims costs going up.

Investment side;
-Slowdown in returns that they earn from investments such as bank deposits and other vehicles of investment.
-On the rental side of things,Kenya Re being a landlord.The market rates have had to go down.Things like escalation clauses on contracts have had to be removed or at least frozen for the time being.
A hit in the bottom line in terms of profitability.

Awful RoE.


Hope they subscribed/invested in the Family Bank bond and EABL Medium term note.
The two had attractive yields.
Better to have bought GoK's tax-free IFBs at 12.5% but those are very long. FB and EABL were shorter. They should have picked up Centum's too given it is only 3 years.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#723 Posted : Tuesday, November 09, 2021 2:49:32 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,335
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ericsson wrote:
https://youtu.be/fLgxkcD1Iz4


Operational challenges of 2021
-Slowdown in collecting premiums
-An increase in claims in certain lines of businesses.Certsin claims under policies which needs to be accommodated which resulted in claims costs going up.

Investment side;
-Slowdown in returns that they earn from investments such as bank deposits and other vehicles of investment.
-On the rental side of things,Kenya Re being a landlord.The market rates have had to go down.Things like escalation clauses on contracts have had to be removed or at least frozen for the time being.
A hit in the bottom line in terms of profitability.

Awful RoE.


Hope they subscribed/invested in the Family Bank bond and EABL Medium term note.
The two had attractive yields.
Better to have bought GoK's tax-free IFBs at 12.5% but those are very long. FB and EABL were shorter. They should have picked up Centum's too given it is only 3 years.

For centum one investors are becoming jittery about the company because of it's venture in real estate.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#724 Posted : Tuesday, November 09, 2021 6:29:14 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,778
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ericsson wrote:
https://youtu.be/fLgxkcD1Iz4


Operational challenges of 2021
-Slowdown in collecting premiums
-An increase in claims in certain lines of businesses.Certsin claims under policies which needs to be accommodated which resulted in claims costs going up.

Investment side;
-Slowdown in returns that they earn from investments such as bank deposits and other vehicles of investment.
-On the rental side of things,Kenya Re being a landlord.The market rates have had to go down.Things like escalation clauses on contracts have had to be removed or at least frozen for the time being.
A hit in the bottom line in terms of profitability.

Awful RoE.


Hope they subscribed/invested in the Family Bank bond and EABL Medium term note.
The two had attractive yields.
Better to have bought GoK's tax-free IFBs at 12.5% but those are very long. FB and EABL were shorter. They should have picked up Centum's too given it is only 3 years.

For centum one investors are becoming jittery about the company because of it's venture in real estate.
Centum has been in real estate for 10 years. And has done better than Kenya Re with its office buildings.

Kenya Re couldn't even sell the small building in Kisumu while Centum actively sold 1bn+ real estate since 2019. So it's not a stretch to say that Centum will be in a position to pay off its CRE bond in 2 years.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#725 Posted : Tuesday, November 09, 2021 7:17:27 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,335
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ericsson wrote:
https://youtu.be/fLgxkcD1Iz4


Operational challenges of 2021
-Slowdown in collecting premiums
-An increase in claims in certain lines of businesses.Certsin claims under policies which needs to be accommodated which resulted in claims costs going up.

Investment side;
-Slowdown in returns that they earn from investments such as bank deposits and other vehicles of investment.
-On the rental side of things,Kenya Re being a landlord.The market rates have had to go down.Things like escalation clauses on contracts have had to be removed or at least frozen for the time being.
A hit in the bottom line in terms of profitability.

Awful RoE.


Hope they subscribed/invested in the Family Bank bond and EABL Medium term note.
The two had attractive yields.
Better to have bought GoK's tax-free IFBs at 12.5% but those are very long. FB and EABL were shorter. They should have picked up Centum's too given it is only 3 years.

For centum one investors are becoming jittery about the company because of it's venture in real estate.
Centum has been in real estate for 10 years. And has done better than Kenya Re with its office buildings.

Kenya Re couldn't even sell the small building in Kisumu while Centum actively sold 1bn+ real estate since 2019. So it's not a stretch to say that Centum will be in a position to pay off its CRE bond in 2 years.


The two are incomparable.
Centum was selling in small pieces or tuplots to various buyers.
Kenya Re is selling the whole building to one buyer.The building is not small unless you have a definition of what small is.

The bond being undersubscribed while family bank and EABL are oversubscribed means investors have a confidence issue with Centum.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#726 Posted : Friday, November 19, 2021 7:38:30 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,335
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Ericsson wrote:
https://youtu.be/fLgxkcD1Iz4


Operational challenges of 2021
-Slowdown in collecting premiums
-An increase in claims in certain lines of businesses.Certsin claims under policies which needs to be accommodated which resulted in claims costs going up.

Investment side;
-Slowdown in returns that they earn from investments such as bank deposits and other vehicles of investment.
-On the rental side of things,Kenya Re being a landlord.The market rates have had to go down.Things like escalation clauses on contracts have had to be removed or at least frozen for the time being.
A hit in the bottom line in terms of profitability.

Awful RoE.


Share price is responding to this.
Heading towards below ksh.2.20
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#727 Posted : Friday, November 19, 2021 12:30:10 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,778
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ericsson wrote:
https://youtu.be/fLgxkcD1Iz4


Operational challenges of 2021
-Slowdown in collecting premiums
-An increase in claims in certain lines of businesses.Certsin claims under policies which needs to be accommodated which resulted in claims costs going up.

Investment side;
-Slowdown in returns that they earn from investments such as bank deposits and other vehicles of investment.
-On the rental side of things,Kenya Re being a landlord.The market rates have had to go down.Things like escalation clauses on contracts have had to be removed or at least frozen for the time being.
A hit in the bottom line in terms of profitability.

Awful RoE.


Hope they subscribed/invested in the Family Bank bond and EABL Medium term note.
The two had attractive yields.
Better to have bought GoK's tax-free IFBs at 12.5% but those are very long. FB and EABL were shorter. They should have picked up Centum's too given it is only 3 years.

For centum one investors are becoming jittery about the company because of it's venture in real estate.
Centum has been in real estate for 10 years. And has done better than Kenya Re with its office buildings.

Kenya Re couldn't even sell the small building in Kisumu while Centum actively sold 1bn+ real estate since 2019. So it's not a stretch to say that Centum will be in a position to pay off its CRE bond in 2 years.


The two are incomparable.
Centum was selling in small pieces or tuplots to various buyers.
Kenya Re is selling the whole building to one buyer.The building is not small unless you have a definition of what small is.

The bond being undersubscribed while family bank and EABL are oversubscribed means investors have a confidence issue with Centum.
Who cares how Centum sells or what they sell. Haba na haba...

Kenya Re has failed to sell the Kisumu building for 1bn which is was valued at. I doubt they will get anything close to 1B.

The Centum bond was launched at a tough time in Dec 2020. No COVID vaccine.

EABL had "extended" its earlier bond and the new bond came out when there was more confidence with the vaccines out and being given to Kenyans. Same with Family Bank.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#728 Posted : Friday, November 19, 2021 1:58:05 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,335
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ericsson wrote:
https://youtu.be/fLgxkcD1Iz4


Operational challenges of 2021
-Slowdown in collecting premiums
-An increase in claims in certain lines of businesses.Certsin claims under policies which needs to be accommodated which resulted in claims costs going up.

Investment side;
-Slowdown in returns that they earn from investments such as bank deposits and other vehicles of investment.
-On the rental side of things,Kenya Re being a landlord.The market rates have had to go down.Things like escalation clauses on contracts have had to be removed or at least frozen for the time being.
A hit in the bottom line in terms of profitability.

Awful RoE.


Hope they subscribed/invested in the Family Bank bond and EABL Medium term note.
The two had attractive yields.
Better to have bought GoK's tax-free IFBs at 12.5% but those are very long. FB and EABL were shorter. They should have picked up Centum's too given it is only 3 years.

For centum one investors are becoming jittery about the company because of it's venture in real estate.
Centum has been in real estate for 10 years. And has done better than Kenya Re with its office buildings.

Kenya Re couldn't even sell the small building in Kisumu while Centum actively sold 1bn+ real estate since 2019. So it's not a stretch to say that Centum will be in a position to pay off its CRE bond in 2 years.


The two are incomparable.
Centum was selling in small pieces or tuplots to various buyers.
Kenya Re is selling the whole building to one buyer.The building is not small unless you have a definition of what small is.

The bond being undersubscribed while family bank and EABL are oversubscribed means investors have a confidence issue with Centum.
Who cares how Centum sells or what they sell. Haba na haba...

Kenya Re has failed to sell the Kisumu building for 1bn which is was valued at. I doubt they will get anything close to 1B.

The Centum bond was launched at a tough time in Dec 2020. No COVID vaccine.

EABL had "extended" its earlier bond and the new bond came out when there was more confidence with the vaccines out and being given to Kenyans. Same with Family Bank.


Even if covid vaccine was there that bond would still failed to get 100% subscription.

there is no harm in Kenya Re failing to sell the building but there is more harm in Centum failing to get buyers for its tuplots.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#729 Posted : Friday, November 19, 2021 2:56:59 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,778
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ericsson wrote:
https://youtu.be/fLgxkcD1Iz4


Operational challenges of 2021
-Slowdown in collecting premiums
-An increase in claims in certain lines of businesses.Certsin claims under policies which needs to be accommodated which resulted in claims costs going up.

Investment side;
-Slowdown in returns that they earn from investments such as bank deposits and other vehicles of investment.
-On the rental side of things,Kenya Re being a landlord.The market rates have had to go down.Things like escalation clauses on contracts have had to be removed or at least frozen for the time being.
A hit in the bottom line in terms of profitability.

Awful RoE.


Hope they subscribed/invested in the Family Bank bond and EABL Medium term note.
The two had attractive yields.
Better to have bought GoK's tax-free IFBs at 12.5% but those are very long. FB and EABL were shorter. They should have picked up Centum's too given it is only 3 years.

For centum one investors are becoming jittery about the company because of it's venture in real estate.
Centum has been in real estate for 10 years. And has done better than Kenya Re with its office buildings.

Kenya Re couldn't even sell the small building in Kisumu while Centum actively sold 1bn+ real estate since 2019. So it's not a stretch to say that Centum will be in a position to pay off its CRE bond in 2 years.


The two are incomparable.
Centum was selling in small pieces or tuplots to various buyers.
Kenya Re is selling the whole building to one buyer.The building is not small unless you have a definition of what small is.

The bond being undersubscribed while family bank and EABL are oversubscribed means investors have a confidence issue with Centum.
Who cares how Centum sells or what they sell. Haba na haba...

Kenya Re has failed to sell the Kisumu building for 1bn which is was valued at. I doubt they will get anything close to 1B.

The Centum bond was launched at a tough time in Dec 2020. No COVID vaccine.

EABL had "extended" its earlier bond and the new bond came out when there was more confidence with the vaccines out and being given to Kenyans. Same with Family Bank.


Even if covid vaccine was there that bond would still failed to get 100% subscription.

there is no harm in Kenya Re failing to sell the building but there is more harm in Centum failing to get buyers for its tuplots.
Laughing out loudly Laughing out loudly Laughing out loudly Now you are projecting bond subscription rates?
Centum will come through with real estate sales. 1H results are due. And then we wait for 2H. Riverbank is ready and units being handed over.

KenyaRe is losing money in reinsurance and surviving on interest income. Lousy dividends too.
NAV 11/- and dividend of 20c = Less than 2%.

Kenya Re's board needs to wisen up.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#730 Posted : Friday, November 19, 2021 3:05:46 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,335
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ericsson wrote:
https://youtu.be/fLgxkcD1Iz4


Operational challenges of 2021
-Slowdown in collecting premiums
-An increase in claims in certain lines of businesses.Certsin claims under policies which needs to be accommodated which resulted in claims costs going up.

Investment side;
-Slowdown in returns that they earn from investments such as bank deposits and other vehicles of investment.
-On the rental side of things,Kenya Re being a landlord.The market rates have had to go down.Things like escalation clauses on contracts have had to be removed or at least frozen for the time being.
A hit in the bottom line in terms of profitability.

Awful RoE.


Hope they subscribed/invested in the Family Bank bond and EABL Medium term note.
The two had attractive yields.
Better to have bought GoK's tax-free IFBs at 12.5% but those are very long. FB and EABL were shorter. They should have picked up Centum's too given it is only 3 years.

For centum one investors are becoming jittery about the company because of it's venture in real estate.
Centum has been in real estate for 10 years. And has done better than Kenya Re with its office buildings.

Kenya Re couldn't even sell the small building in Kisumu while Centum actively sold 1bn+ real estate since 2019. So it's not a stretch to say that Centum will be in a position to pay off its CRE bond in 2 years.


The two are incomparable.
Centum was selling in small pieces or tuplots to various buyers.
Kenya Re is selling the whole building to one buyer.The building is not small unless you have a definition of what small is.

The bond being undersubscribed while family bank and EABL are oversubscribed means investors have a confidence issue with Centum.
Who cares how Centum sells or what they sell. Haba na haba...

Kenya Re has failed to sell the Kisumu building for 1bn which is was valued at. I doubt they will get anything close to 1B.

The Centum bond was launched at a tough time in Dec 2020. No COVID vaccine.

EABL had "extended" its earlier bond and the new bond came out when there was more confidence with the vaccines out and being given to Kenyans. Same with Family Bank.


Even if covid vaccine was there that bond would still failed to get 100% subscription.

there is no harm in Kenya Re failing to sell the building but there is more harm in Centum failing to get buyers for its tuplots.
Laughing out loudly Laughing out loudly Laughing out loudly Now you are projecting bond subscription rates?
Centum will come through with real estate sales. 1H results are due. And then we wait for 2H. Riverbank is ready and units being handed over.

KenyaRe is losing money in reinsurance and surviving on interest income. Lousy dividends too.
NAV 11/- and dividend of 20c = Less than 2%.

Kenya Re's board needs to wisen up.


On the ground things are different for Centum,don't rely so much on powerpoint presentations.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#731 Posted : Tuesday, November 30, 2021 9:20:20 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,335
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/bd/corporate/companies/kenya-re-reopen-sale-of-its-sh1bn-kisumu-property-3595824

Kenya Re will launch a fresh bid to sell its Reinsurance Plaza building in Kisumu before the end of the year.

The firm's earnings could be boosted if significant gains are realised from the sale.
During the half year results it reported a 64% drop in profits.
Property portfolio constitutes 27% of its total investments.
It's unlikely they will get anything close to the 1bn from a private buyer. I think the building has been over-valued by the valuer. The only hope to get anything close to 1bn is from GoK/County but I shall not hold my breath.

Firms need to be realistic about property values shown on balance sheets.


Reinsurance Plaza building,Kisumu is a difficult property to offload for Kenya Re as its valuation has depreciated.
Occupancy levels have declined substantially due to exit of some major tenants.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#732 Posted : Wednesday, February 16, 2022 3:33:59 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,335
Location: NAIROBI
The MD has confirmed that they will be paying dividend during release of FY financial results in April.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#733 Posted : Thursday, February 17, 2022 6:41:03 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,335
Location: NAIROBI
Kenya Re increased its investment in the West Africa subsidiary and in Zep Re in the course of 2021.
Not sure whether the investment in Zep Re resulted in an increase in shareholding.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#734 Posted : Monday, February 21, 2022 3:01:48 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,778
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ericsson wrote:
https://youtu.be/fLgxkcD1Iz4


Operational challenges of 2021
-Slowdown in collecting premiums
-An increase in claims in certain lines of businesses.Certsin claims under policies which needs to be accommodated which resulted in claims costs going up.

Investment side;
-Slowdown in returns that they earn from investments such as bank deposits and other vehicles of investment.
-On the rental side of things,Kenya Re being a landlord.The market rates have had to go down.Things like escalation clauses on contracts have had to be removed or at least frozen for the time being.
A hit in the bottom line in terms of profitability.

Awful RoE.


Hope they subscribed/invested in the Family Bank bond and EABL Medium term note.
The two had attractive yields.
Better to have bought GoK's tax-free IFBs at 12.5% but those are very long. FB and EABL were shorter. They should have picked up Centum's too given it is only 3 years.

For centum one investors are becoming jittery about the company because of it's venture in real estate.
Centum has been in real estate for 10 years. And has done better than Kenya Re with its office buildings.

Kenya Re couldn't even sell the small building in Kisumu while Centum actively sold 1bn+ real estate since 2019. So it's not a stretch to say that Centum will be in a position to pay off its CRE bond in 2 years.


The two are incomparable.
Centum was selling in small pieces or tuplots to various buyers.
Kenya Re is selling the whole building to one buyer.The building is not small unless you have a definition of what small is.

The bond being undersubscribed while family bank and EABL are oversubscribed means investors have a confidence issue with Centum.
Who cares how Centum sells or what they sell. Haba na haba...

Kenya Re has failed to sell the Kisumu building for 1bn which is was valued at. I doubt they will get anything close to 1B.

The Centum bond was launched at a tough time in Dec 2020. No COVID vaccine.

EABL had "extended" its earlier bond and the new bond came out when there was more confidence with the vaccines out and being given to Kenyans. Same with Family Bank.


Even if covid vaccine was there that bond would still failed to get 100% subscription.

there is no harm in Kenya Re failing to sell the building but there is more harm in Centum failing to get buyers for its tuplots.
Laughing out loudly Laughing out loudly Laughing out loudly Now you are projecting bond subscription rates?
Centum will come through with real estate sales. 1H results are due. And then we wait for 2H. Riverbank is ready and units being handed over.

KenyaRe is losing money in reinsurance and surviving on interest income. Lousy dividends too.
NAV 11/- and dividend of 20c = Less than 2%.

Kenya Re's board needs to wisen up.


On the ground things are different for Centum,don't rely so much on powerpoint presentations.

This isn't a Centum thread but while you were sulking Laughing out loudly Riverbank has been handed over to buyers. 60 of 84 units delivered/sold despite COVID and going into an election year.

Any news of Kenya Re's sale of the (fake price) 1bn building in Kisumu?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#735 Posted : Monday, February 21, 2022 3:05:57 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,778
Location: Nairobi
Ericsson wrote:
The MD has confirmed that they will be paying dividend during release of FY financial results in April.
Means little when it pays 10c on a share trading at 2.30 which 4.2% DY.

BAT paid 80% of EPS and DY was 10%+

Note that Kenya Re needs to be pushed for a higher dividend.
Dividend of 0.10 (FY21) on a NAV of 12.25 is less than 1%.

Kenya Re is not even growing fast that one can forgo dividends for future benefits.
ROE was about 8% which is like T-Bills without the cash return to shareholders.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#736 Posted : Monday, February 21, 2022 3:08:08 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,778
Location: Nairobi
Ericsson wrote:
Kenya Re increased its investment in the West Africa subsidiary and in Zep Re in the course of 2021.
Not sure whether the investment in Zep Re resulted in an increase in shareholding.

What return does Zep Re give Kenya Re?
How much more did they buy?
Price paid?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#737 Posted : Monday, February 21, 2022 3:22:45 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,335
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Kenya Re increased its investment in the West Africa subsidiary and in Zep Re in the course of 2021.
Not sure whether the investment in Zep Re resulted in an increase in shareholding.


What return does Zep Re give Kenya Re?
Dividends and boosting profits as an associate


How much more did they buy?
Figure not disclosed,have to wait for annual report/AGM

Price paid?

Details will be known from Annual Report
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#738 Posted : Monday, February 21, 2022 11:56:04 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,778
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Re increased its investment in the West Africa subsidiary and in Zep Re in the course of 2021.
Not sure whether the investment in Zep Re resulted in an increase in shareholding.


What return does Zep Re give Kenya Re?
Dividends and boosting profits as an associate

What return on investment does Zep Re give Kenya Re?

How much more did they buy?
Figure not disclosed,have to wait for annual report/AGM
When did Kenya Re buy more shares in Zep Re?

Price paid?

Details will be known from Annual Report

Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#739 Posted : Tuesday, February 22, 2022 12:33:57 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,335
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Re increased its investment in the West Africa subsidiary and in Zep Re in the course of 2021.
Not sure whether the investment in Zep Re resulted in an increase in shareholding.


What return does Zep Re give Kenya Re?
Dividends and boosting profits as an associate


What return on investment does Zep Re give Kenya Re?
That figure not currently available,maybe if asked in the AGM next year.
Though from their annual report their dividend payment has been good.
In 2017 the dividend was $5mn from a profit of $23.77mn
In 2018 they paid a dividend of $2.5mn from a profit of $10.1mn,
In 2019 from a profit of $28.77 they paid a dividend of $5mn.
In 2020 from a profit of $17.3mn they paid a dividend of $5mn comprised of$2.5mn cash and $2.5mn bonus shares.


How much more did they buy?
Figure not disclosed,have to wait for annual report/AGM

When did Kenya Re buy more shares in Zep Re?
Quarter 3 of 2021

Price paid?

Details will be known from Annual Report


Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#740 Posted : Thursday, April 07, 2022 9:13:07 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,335
Location: NAIROBI
https://www.businessdail...n-defaults-rise-3773780

Kenya Re has disclosed that insurance companies and brokers have defaulted on Sh8.57 billion premiums, hurting the profitability of the Nairobi Securities Exchange-listed firm which has had to make provisions for the amounts receivable.

The company said in its financial statement for the year ended December 2021 that the unremitted premiums had risen by Sh2.7 billion in the period, indicating that insurers are either struggling for funds or have become lax in their obligations to the reinsurer.

Kenya Re makes provisions for the unremitted premiums in its balance sheet, and when some of these impairments are realised, they impact negatively on its bottom line.

“Delays in receiving outstanding reinsurance premiums continue to pose credit risk to the group. This is mainly from outstanding retro recoveries as well as outstanding premium receivables from cedants and brokers,” said Kenya Re.

“As at December 2021, gross receivables stood at Sh8.57 billion against provisions of Sh3.89 billion as compared to December 2020 where gross reinsurance receivables stood at Sh5.865 billion against provisions of Sh3.87 billion.”

The listed reinsurer saw its net profit for the year rise marginally by 0.8 percent to Sh2.97 billion, after incurring an impairment hit of Sh909.4 million for bad debts relating to the unpaid premiums—up from Sh227.8 million in 2020.
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Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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