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26 Pages«<242526
KenyaRe FY19 - FY23 (Both Inclusive)
Ericsson
#501 Posted : Monday, July 06, 2020 2:50:32 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,839
Location: NAIROBI
https://www.businessdail...588404-snfn7/index.html

Nairobi-based reinsurer Zep-Re is eying a Sh464.4 million (R74.5 million) investment in multinational property developer Grit Real Estate Income Group.

The shares will be bought on the Johannesburg Stock Exchange (JSE) from which Grit intends to delist, citing high regulatory and compliance costs.

Grit says in a circular that it wants to sell five million shares to ZEP-Re and another two million to Botswana Development Corporation Limited (BDC), a development finance institution.

Zep-Re has applied to acquire the five million shares for a cash consideration of Sh92.90 (R14.90) per share. The offer to Grit shareholders were open for acceptances from last Friday and closes on July 24.
The deal will see the two institutional investors acquire a combined 12.75 percent of the total Grit shares held on the JSE register or an equivalent of 2.21 percent of the total issued shares.

Kenya Re, the top shareholder of Zep-Re with a 19 percent stake, will have an indirect exposure to Grit’s portfolio in the ongoing transaction.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#502 Posted : Monday, July 06, 2020 7:45:49 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,196
Location: Nairobi
Ericsson wrote:
https://www.businessdailyafrica.com/corporate/companies/ZEPRe-eyes-Sh464m-stake-in-real-estate-company-Grit/4003102-5588404-snfn7/index.html

Nairobi-based reinsurer Zep-Re is eying a Sh464.4 million (R74.5 million) investment in multinational property developer Grit Real Estate Income Group.

The shares will be bought on the Johannesburg Stock Exchange (JSE) from which Grit intends to delist, citing high regulatory and compliance costs.

Grit says in a circular that it wants to sell five million shares to ZEP-Re and another two million to Botswana Development Corporation Limited (BDC), a development finance institution.

Zep-Re has applied to acquire the five million shares for a cash consideration of Sh92.90 (R14.90) per share. The offer to Grit shareholders were open for acceptances from last Friday and closes on July 24.
The deal will see the two institutional investors acquire a combined 12.75 percent of the total Grit shares held on the JSE register or an equivalent of 2.21 percent of the total issued shares.

Kenya Re, the top shareholder of Zep-Re with a 19 percent stake, will have an indirect exposure to Grit’s portfolio in the ongoing transaction.
So delisting is gaining ground in other SSA countries too.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#503 Posted : Sunday, July 12, 2020 11:55:13 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,839
Location: NAIROBI
Global Credit affirms Kenya Re’s stable outlook on strong capital, liquidity

Global Credit Ratings (GCR) has affirmed Kenya Reinsurance Corporation (Kenya Re) a national scale financial rating of AA+ with a stable outlook, citing strong capital base and healthy liquidity.

The South African rating agency said the reinsurer has demonstrated a strong financial profile both in Kenya and the international markets it serves.
“The entity demonstrated a strong financial profile, while business profile remained at intermediate levels, with small and risky presences in foreign markets diluting entrenched strong domestic market position,” said GCR.

GCR, however, downgraded Kenya Re’s international scale financial strength rating to B, from B+ on Kenya’s risks revisions. It, however, retained the stable outlook too.
The agency said the international scale financial strength rating was lowered to reflect higher operating risk in jurisdictions where gross premiums are derived.

Notably, Kenya and India accounted for 75 per cent of gross premiums in the financial year ended 2019, up from 70 per cent in the previous year.
GCR said the capital adequacy ratio was maintained at about three times the minimum, reflecting a sizeable capital base relative to the growing quantum of the insurance market and credit risks.


https://www.businessdail...91964-gvdxlbz/index.html
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#504 Posted : Monday, July 13, 2020 9:05:13 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,839
Location: NAIROBI
Ericsson wrote:
Angelica _ann wrote:
Spokesperson's Office
State House, Nairobi

Friday, 19th June 2020

Press Statement

*President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General*

His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General.

Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law.

Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting.

Kanze Dena Mararo
Spokesperson


Angelica_ann
Watch and learn,told you by July 1st


Parliament will hold a special sitting on Wednesday 15 July to accept or reject uhuru kenyatta Auditor general nominee
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
point
#505 Posted : Monday, July 13, 2020 9:14:14 AM
Rank: New-farer


Joined: 8/23/2015
Posts: 62
Location: nairobi
This is the stock to watch this week. Foreign participation was extremely high last week.
Balaa
#506 Posted : Monday, July 13, 2020 1:14:40 PM
Rank: Member


Joined: 7/6/2018
Posts: 147
Location: Kinshasa
point wrote:
This is the stock to watch this week. Foreign participation was extremely high last week.


Kenya Re is also reported to have received AA+ rating by GCR lately.

https://www.the-star.co...._twitter_impression=true
Queen
#507 Posted : Monday, July 13, 2020 5:20:38 PM
Rank: Member


Joined: 11/21/2018
Posts: 391
Location: Britain
Ericsson wrote:
Ericsson wrote:
Angelica _ann wrote:
Spokesperson's Office
State House, Nairobi

Friday, 19th June 2020

Press Statement

*President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General*

His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General.

Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law.

Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting.

Kanze Dena Mararo
Spokesperson


Angelica_ann
Watch and learn,told you by July 1st


Parliament will hold a special sitting on Wednesday 15 July to accept or reject uhuru kenyatta Auditor general nominee


Eti reject... You should have said they will meet to accept or accept. That is what our parliament has become, an appendage of the executive.
Ericsson
#508 Posted : Wednesday, July 15, 2020 11:25:50 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,839
Location: NAIROBI
Balaa wrote:
[quote=point]This is the stock to watch this week. Foreign participation was extremely high last week.


Kenya Re is also reported to have received AA+ rating by GCR lately.

https://www.the-star.co....twitter_impression=true[/quote]

And true it has been the stock to watch this week.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#509 Posted : Wednesday, July 15, 2020 5:39:28 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,839
Location: NAIROBI
Queen wrote:
Ericsson wrote:
Ericsson wrote:
Angelica _ann wrote:
Spokesperson's Office
State House, Nairobi

Friday, 19th June 2020

Press Statement

*President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General*

His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General.

Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law.

Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting.

Kanze Dena Mararo
Spokesperson


Angelica_ann
Watch and learn,told you by July 1st


Parliament will hold a special sitting on Wednesday 15 July to accept or reject uhuru kenyatta Auditor general nominee


Eti reject... You should have said they will meet to accept or accept. That is what our parliament has become, an appendage of the executive.


Parliament approves the appointment
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Angelica _ann
#510 Posted : Friday, July 17, 2020 12:55:59 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,700
Ericsson wrote:
Queen wrote:
Ericsson wrote:
Ericsson wrote:
Angelica _ann wrote:
Spokesperson's Office
State House, Nairobi

Friday, 19th June 2020

Press Statement

*President Kenyatta nominates Ms Nancy Janet Kabui Gathungu for position of Auditor General*

His Excellency President Uhuru Kenyatta has nominated Ms Nancy Janet Kabui Gathungu for the position of Auditor General.

Ms Gathungu was the first among the top three (3) candidates presented to His Excellency the President for nomination by the Recruitment Panel for the Selection of the Auditor General as set out in law.

Consequently, His Excellency the President has forwarded the name of Ms Nancy Janet Kabui Gathungu to the National Assembly for vetting.

Kanze Dena Mararo
Spokesperson


Angelica_ann
Watch and learn,told you by July 1st


Parliament will hold a special sitting on Wednesday 15 July to accept or reject uhuru kenyatta Auditor general nominee


Eti reject... You should have said they will meet to accept or accept. That is what our parliament has become, an appendage of the executive.


Parliament approves the appointment


Sworn in today!!! Let her start her work now. Kazi sasa!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Ericsson
#511 Posted : Friday, August 07, 2020 7:27:56 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,839
Location: NAIROBI
Half year results 2020 are out.
Profit before tax increased by 51.6% from ksh.1.379bn to 2.091bn
Profit after tax increased by 45.8% from ksh.1.075bn to 1.568bn
Total assets increased to ksh.53.346bn as at June 30 2020 compared to 50.362bn as at December 31 2019
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ebenyo
#512 Posted : Friday, August 07, 2020 8:29:39 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,863
Location: Kitale
Ericsson wrote:
Half year results 2020 are out.
Profit before tax increased by 51.6% from ksh.1.379bn to 2.091bn
Profit after tax increased by 45.8% from ksh.1.075bn to 1.568bn
Total assets increased to ksh.53.346bn as at June 30 2020 compared to 50.362bn as at December 31 2019




Applause encouraging results.So kenre was not affected by covid 19 going by these results.
Towards the goal of financial freedom
Ericsson
#513 Posted : Friday, August 07, 2020 1:10:28 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,839
Location: NAIROBI
Ebenyo wrote:
Ericsson wrote:
Half year results 2020 are out.
Profit before tax increased by 51.6% from ksh.1.379bn to 2.091bn
Profit after tax increased by 45.8% from ksh.1.075bn to 1.568bn
Total assets increased to ksh.53.346bn as at June 30 2020 compared to 50.362bn as at December 31 2019




Applause encouraging results.So kenre was not affected by covid 19 going by these results.


They still have a big potential to grow especially on the life/long term business.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#514 Posted : Saturday, August 08, 2020 6:39:56 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,839
Location: NAIROBI
https://www.nation.co.ke...higher-premiums-1914596

The corporation wants to establish a shariah compliant subsidiary in Egypt
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#515 Posted : Thursday, September 03, 2020 10:25:17 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,839
Location: NAIROBI
Virtual AGM will be held on 9 October 2020.
To approve payment of dividend of ksh.0.10 per share for the financial year ended 31st December 2019 to the shareholders registered in the books as at 9th October 2020 to be paid on or about 20th November 2020.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#516 Posted : Sunday, September 13, 2020 6:19:23 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,839
Location: NAIROBI
Targets for FY2020
Gross premium of ksh.18.8bn but due to COVID-19 has been revised to ksh.17.8bn
Income from investments was ksh.3bn but due to COVID-19 revised to 2.8bn
Rental income has been adjusted from ksh.906mn to ksh.880mn.
Mr.Mwarania says the pandemic has affected its three streams of income;premiums,rentals and investments.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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