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8 Pages«<678
CIC Insurance 2019
Ericsson
#141 Posted : Friday, March 26, 2021 7:57:12 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
maka wrote:
[quote=Ericsson]Full year loss before tax ksh
79mn

First half--Loss of ksh.286mn
Second half--Profit of ksh.207mn
FY2020---Loss of 79mn

https://mobile.twitter.c...972283463303170/photo/1[/quote]


Does this one have hope.. I think it has ever traded at 11.50.... Can it go back there in 5 years?


The new MD at his inauguration said he has a strategy of bringing it back on track.
Of late I have seen advertisements for recruitment for various positions.
They made a big mistake ploughing alot of their resources in buying huge tracks of land at far flung areas.

Let's see how it goes.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#142 Posted : Monday, March 29, 2021 11:37:40 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
[quote=Ericsson]Full year loss before tax ksh
79mn

First half--Loss of ksh.286mn
Second half--Profit of ksh.207mn
FY2020---Loss of 79mn

https://mobile.twitter.c...972283463303170/photo/1[/quote]

https://www.nse.co.ke/ph...ar-ended-31-dec-2020.pdf
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#143 Posted : Sunday, July 04, 2021 7:53:53 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
https://www.businessdail...ria-as-chairman-3459046

Former CEO is back as Chairman and independent director.
Musical 💺chairs.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Sufficiently Philanga....thropic
#144 Posted : Monday, July 05, 2021 11:29:10 AM
Rank: Elder


Joined: 9/23/2010
Posts: 2,157
Location: Sundowner,Amboseli
Ericsson wrote:
https://www.businessdailyafrica.com/bd/corporate/companies/cic-taps-former-chief-executive-nelson-kuria-as-chairman-3459046

Former CEO is back as Chairman and independent director.
Musical 💺chairs.


Mr.Market seems happy with this development.
Markets
heri
#145 Posted : Tuesday, July 06, 2021 11:45:05 AM
Rank: Member


Joined: 9/14/2011
Posts: 795
Location: nairobi
Sufficiently Philanga....thropic wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/bd/corporate/companies/cic-taps-former-chief-executive-nelson-kuria-as-chairman-3459046

Former CEO is back as Chairman and independent director.
Musical 💺chairs.


Mr.Market seems happy with this development.


Is it just the news of a new chairman that is exciting the market or there is another reason? I am deep in red on this one and any opportunity to get out of jail would be welcome
mlennyma
#146 Posted : Tuesday, July 06, 2021 12:36:33 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,109
Location: nairobi
heri wrote:
Sufficiently Philanga....thropic wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/bd/corporate/companies/cic-taps-former-chief-executive-nelson-kuria-as-chairman-3459046

Former CEO is back as Chairman and independent director.
Musical 💺chairs.


Mr.Market seems happy with this development.


Is it just the news of a new chairman that is exciting the market or there is another reason? I am deep in red on this one and any opportunity to get out of jail would be welcome


also gearing for a good exit
"Don't let the fear of losing be greater than the excitement of winning."
Sufficiently Philanga....thropic
#147 Posted : Tuesday, July 06, 2021 12:39:51 PM
Rank: Elder


Joined: 9/23/2010
Posts: 2,157
Location: Sundowner,Amboseli
heri wrote:
Sufficiently Philanga....thropic wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/bd/corporate/companies/cic-taps-former-chief-executive-nelson-kuria-as-chairman-3459046

Former CEO is back as Chairman and independent director.
Musical 💺chairs.


Mr.Market seems happy with this development.


Is it just the news of a new chairman that is exciting the market or there is another reason? I am deep in red on this one and any opportunity to get out of jail would be welcome


May reasons, 2 i can point out.
1) We are in the middle of a mini bull run that started with the tier 1 stocks, i.e Safaricom and Equity. I believe it's now tier 2 stocks turn to shine and this is where the CICs, Bamburi, Centum, Britam, NMG are. The monkey stocks will finally have their day.
2) Deep pocketed investors are buying into the stock market now that we only have 1 year left to the elections and history shows that the period after the elections is marked by alot of euphoria.

I suggest you just wait out until after the elections as the long journey upwards has just started but will gather momentum in the run up to elections and the period thereafter.
Markets
Ericsson
#148 Posted : Tuesday, July 06, 2021 12:56:20 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
Sufficiently Philanga....thropic wrote:
heri wrote:
Sufficiently Philanga....thropic wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/bd/corporate/companies/cic-taps-former-chief-executive-nelson-kuria-as-chairman-3459046

Former CEO is back as Chairman and independent director.
Musical 💺chairs.


Mr.Market seems happy with this development.


Is it just the news of a new chairman that is exciting the market or there is another reason? I am deep in red on this one and any opportunity to get out of jail would be welcome


May reasons, 2 i can point out.
1) We are in the middle of a mini bull run that started with the tier 1 stocks, i.e Safaricom and Equity. I believe it's now tier 2 stocks turn to shine and this is where the CICs, Bamburi, Centum, Britam, NMG are. The monkey stocks will finally have their day.
2) Deep pocketed investors are buying into the stock market now that we only have 1 year left to the elections and history shows that the period after the elections is marked by alot of euphoria.

I suggest you just wait out until after the elections as the long journey upwards has just started but will gather momentum in the run up to elections and the period thereafter.


What about the economic indicators,they are pointing a rosy picture.
Tourism is still dead.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#149 Posted : Tuesday, July 06, 2021 12:58:02 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
heri wrote:
Sufficiently Philanga....thropic wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/bd/corporate/companies/cic-taps-former-chief-executive-nelson-kuria-as-chairman-3459046

Former CEO is back as Chairman and independent director.
Musical 💺chairs.


Mr.Market seems happy with this development.


Is it just the news of a new chairman that is exciting the market or there is another reason? I am deep in red on this one and any opportunity to get out of jail would be welcome


Mark your exit price and jump out
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
maka
#150 Posted : Tuesday, July 06, 2021 1:09:25 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,423
Location: Nairobi
Ericsson wrote:
heri wrote:
Sufficiently Philanga....thropic wrote:
[quote=Ericsson]https://www.businessdailyafrica.com/bd/corporate/companies/cic-taps-former-chief-executive-nelson-kuria-as-chairman-3459046

Former CEO is back as Chairman and independent director.
Musical 💺chairs.


Mr.Market seems happy with this development.


Is it just the news of a new chairman that is exciting the market or there is another reason? I am deep in red on this one and any opportunity to get out of jail would be welcome


22% ... to the moon
possunt quia posse videntur
kmucheke
#151 Posted : Tuesday, July 13, 2021 5:36:04 PM
Rank: Member


Joined: 3/16/2019
Posts: 255
South Africa-based GCR downgrades CIC Insurance’s credit rating
Quote:
South Africa-based Global Credit Ratings (GCR) has downgraded the credit profiles of CIC Insurance Group general and life units.

Quote:
The agency said the rating downgrade on CIC Life followed the group’s continued elevated exposure to investment property — mainly land banks — on the backdrop of a significant shareholder loan, which is on commercial terms.

“The negative outlook reflects high susceptibility of investment property to market risk amid the Covid-19 pandemic, which could moderate the group’s capital assessment over the medium term,” the rating firm said.

On the life unit, GCR noted over the past five years, the underwriter’s capacity to generate internal capital has been sluggish considering weak earnings performance demonstrated over the same period.

“Consistent with GCR’s group ratings approach, CIC Life’s overall risk score was capped by the group’s creditworthiness despite having a stronger standalone credit profile relative to its parent company,” said GCR.

Meanwhile the share price has gained 58.22% YTD
Ericsson
#152 Posted : Wednesday, July 14, 2021 9:41:13 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
kmucheke wrote:
South Africa-based GCR downgrades CIC Insurance’s credit rating
Quote:
South Africa-based Global Credit Ratings (GCR) has downgraded the credit profiles of CIC Insurance Group general and life units.

Quote:
The agency said the rating downgrade on CIC Life followed the group’s continued elevated exposure to investment property — mainly land banks — on the backdrop of a significant shareholder loan, which is on commercial terms.

“The negative outlook reflects high susceptibility of investment property to market risk amid the Covid-19 pandemic, which could moderate the group’s capital assessment over the medium term,” the rating firm said.

On the life unit, GCR noted over the past five years, the underwriter’s capacity to generate internal capital has been sluggish considering weak earnings performance demonstrated over the same period.

“Consistent with GCR’s group ratings approach, CIC Life’s overall risk score was capped by the group’s creditworthiness despite having a stronger standalone credit profile relative to its parent company,” said GCR.

Meanwhile the share price has gained 58.22% YTD


It's correcting itself and will be back to ksh.2
Supply with no corresponding demand
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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