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7 Pages«<567
CIC Insurance 2019
Ericsson
#121 Posted : Wednesday, October 21, 2020 8:23:04 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,143
Location: NAIROBI
https://www.businessdail...re-jumps-to-41pc-2485874
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
kmucheke
#122 Posted : Wednesday, October 21, 2020 4:55:31 PM
Rank: Member


Joined: 3/16/2019
Posts: 227
Ericsson wrote:
https://www.businessdailyafrica.com/bd/markets/capital-markets/cic-unit-trust-market-share-jumps-to-41pc-2485874


Quote:
Newcomer Co-op Unit trust grew funds under management from Sh10.83 million to Sh1.16 billion, joining the club of fund managers with over Sh1 billion in funds under management.


I still see Co-op Unit trust as a threat to CIC Unit trust.
Ericsson
#123 Posted : Wednesday, October 21, 2020 6:02:44 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,143
Location: NAIROBI
kmucheke wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/bd/markets/capital-markets/cic-unit-trust-market-share-jumps-to-41pc-2485874


Quote:
Newcomer Co-op Unit trust grew funds under management from Sh10.83 million to Sh1.16 billion, joining the club of fund managers with over Sh1 billion in funds under management.


I still see Co-op Unit trust as a threat to CIC Unit trust.


Still far.
Look at it in absolute numbers not percentage growth.The gap has widened.
Co-op unit trust grew by ksh.1.1bn while CIC grew by ksh.7bn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
kmucheke
#124 Posted : Wednesday, October 21, 2020 8:11:29 PM
Rank: Member


Joined: 3/16/2019
Posts: 227
Ericsson wrote:
kmucheke wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/bd/markets/capital-markets/cic-unit-trust-market-share-jumps-to-41pc-2485874


Quote:
Newcomer Co-op Unit trust grew funds under management from Sh10.83 million to Sh1.16 billion, joining the club of fund managers with over Sh1 billion in funds under management.


I still see Co-op Unit trust as a threat to CIC Unit trust.


Still far.
Look at it in absolute numbers not percentage growth. The gap has widened.
Co-op unit trust grew by ksh.1.1bn while CIC grew by ksh.7bn


True.

But I believe Co-op Unit trust is targeting SACCOs. SACCOs I understand make up the bulk institutional investors in CIC Unit trust. Unless the SACCO market is large for the two players.
heri
#125 Posted : Friday, October 23, 2020 8:39:13 AM
Rank: Member


Joined: 9/14/2011
Posts: 791
Location: nairobi
https://www.businessdail...ash-withdrawals-2571996

The Insurance Regulatory Authority (IRA) reckons in its latest report that job cuts and salary reductions look set to hurt pension and life assurance products, leading to reduced premiums.

“The pandemic has resulted either in redundancies and salary reductions which has a negative impact on pension and life assurance businesses,” said IRA commissioner Godfrey Kitpum.

The cancellations pose a threat to the stability of some insurers in form of lost premiums and squeezed liquidity, with the IRA noting that 20 insurance companies or 35 percent of 56 licensed businesses are in breach of capital adequacy requirements.
Ericsson
#126 Posted : Friday, October 23, 2020 9:40:25 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,143
Location: NAIROBI
heri wrote:
https://www.businessdailyafrica.com/bd/economy/job-cuts-spark-insurance-policy-cash-withdrawals-2571996

The Insurance Regulatory Authority (IRA) reckons in its latest report that job cuts and salary reductions look set to hurt pension and life assurance products, leading to reduced premiums.

“The pandemic has resulted either in redundancies and salary reductions which has a negative impact on pension and life assurance businesses,” said IRA commissioner Godfrey Kitpum.

The cancellations pose a threat to the stability of some insurers in form of lost premiums and squeezed liquidity, with the IRA noting that 20 insurance companies or 35 percent of 56 licensed businesses are in breach of capital adequacy requirements.


FY2020 results due out in Quarter 1 of 2021 and HY2021 results will reveal the effects/impact.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#127 Posted : Monday, November 23, 2020 10:23:26 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,143
Location: NAIROBI
Angelica _ann wrote:
Ericsson wrote:
FUNKY wrote:
Any updates from today's AGM?


There was nothing extraordinary in the agenda.


Land sale has gone through?


They have reverted to sell it slowly aka in plots form after the other deal collapsed.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#128 Posted : Monday, November 23, 2020 10:24:57 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,143
Location: NAIROBI
Queen wrote:
VituVingiSana wrote:
bartum wrote:
Queen wrote:
Ericsson wrote:
Queen wrote:
Ericsson wrote:
Ericsson wrote:
bartum wrote:
Where is this man @pkoli, he understood cic


Half year results will be out within the next two weeks.


HY 2019 results are out.
HY 2020 compared to 2019
Gross written premiums down 3.2% to ksh.9.283bn compared to 9.594bn
Net earned premiums down 0.069% to ksh.7.106bn compared to 7.111bn
Investment and other income down 26% to ksh.1.2bn compared to 1.62bn
Net claims and policy holders up 7.6% to ksh.5.4bn compared to 5.04bn
Loss before tax @ksh.286.54mn
Loss after tax at ksh.335.5mn


HY 2020?

Rectified


Great!

What's great
The rectification


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Funny Wazuans


Q3 they have managed to reduce/narrow the losses
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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