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KenyaRe FY19 - FY23 (Both Inclusive)
Rank: Member Joined: 4/21/2015 Posts: 141
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"Swiss Re's net loss forecast to hit $389mn in 2020, says Berenberg - Reinsurance News" https://www.reinsurancen...-in-2020-says-berenberg/
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Rank: Elder Joined: 12/4/2009 Posts: 9,402 Location: NAIROBI
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Q3 Quarterly Reports 2020 - 2021In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020. The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively. The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 17,414 Location: Nairobi
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Ericsson wrote:Q3 Quarterly Reports 2020 - 2021
In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.
The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit. Looking good! Though this is "operating profit" so there may be other expenses or losses not included. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 9,402 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:Q3 Quarterly Reports 2020 - 2021
In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.
The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit. Looking good! Though this is "operating profit" so there may be other expenses or losses not included. The long term business had a profit of sh.731.7mn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/4/2016 Posts: 1,916 Location: Kitale
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VituVingiSana wrote:Ericsson wrote:Q3 Quarterly Reports 2020 - 2021
In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.
The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit. Looking good! Though this is "operating profit" so there may be other expenses or losses not included. That means kenre will post an improved profit FY 2020 Towards the goal of financial freedom
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Rank: Elder Joined: 12/4/2009 Posts: 9,402 Location: NAIROBI
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Ebenyo wrote:VituVingiSana wrote:Ericsson wrote:Q3 Quarterly Reports 2020 - 2021
In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.
The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit. Looking good! Though this is "operating profit" so there may be other expenses or losses not included. That means kenre will post an improved profit FY 2020 They are also on a continental expansion mode. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 9,402 Location: NAIROBI
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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. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 17,414 Location: Nairobi
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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. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 4/4/2016 Posts: 1,916 Location: Kitale
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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 Towards the goal of financial freedom
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Rank: Chief Joined: 1/3/2007 Posts: 17,414 Location: Nairobi
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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. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 9,402 Location: NAIROBI
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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 Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: New-farer Joined: 5/21/2013 Posts: 72 Location: KENYA
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“The market can remain irrational longer than you can remain solvent.” - John Maynard Keynes
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Rank: Chief Joined: 1/3/2007 Posts: 17,414 Location: Nairobi
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0.5% is hardly building a stake. And it's equivalent to just 1mn Saf in value. Even if they bought 140mn shares = 5% *Disclosure: I am not a seller BUT I would like to see more shares bought out by those who are in it for the long-term and will push the mgmt, board and GoK to do better. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 4/4/2016 Posts: 1,916 Location: Kitale
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There could be some news forthcoming Towards the goal of financial freedom
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Rank: Elder Joined: 12/4/2009 Posts: 9,402 Location: NAIROBI
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VituVingiSana wrote:0.5% is hardly building a stake. And it's equivalent to just 1mn Saf in value. Even if they bought 140mn shares = 5% *Disclosure: I am not a seller BUT I would like to see more shares bought out by those who are in it for the long-term and will push the mgmt, board and GoK to do better. This is a trade for last week. 140mn shares is alot,getting that number would mean buying over a span of time Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 9,402 Location: NAIROBI
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VituVingiSana wrote:0.5% is hardly building a stake. And it's equivalent to just 1mn Saf in value. Even if they bought 140mn shares = 5% *Disclosure: I am not a seller BUT I would like to see more shares bought out by those who are in it for the long-term and will push the mgmt, board and GoK to do better. So that they behave like Safaricom  Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 9,402 Location: NAIROBI
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Dividend forecast for FY results to be announced next month is 15-20 cents per share Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/4/2016 Posts: 1,916 Location: Kitale
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Ericsson wrote:Dividend forecast for FY results to be announced next month is 15-20 cents per share That looks more realistic Towards the goal of financial freedom
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Rank: Elder Joined: 12/4/2009 Posts: 9,402 Location: NAIROBI
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Kenya Re low share price is due to its low Return on Investment. The excess cash is invested in low yielding assets such as treasury bills. It's better paying out the excess cash as dividends. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 9,402 Location: NAIROBI
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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 Sell and pay a dividend 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. Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL.  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. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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