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35 Pages«<32333435>
KenyaRe FY19 - FY23 (Both Inclusive)
Ericsson
#661 Posted : Tuesday, June 08, 2021 10:13:32 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#662 Posted : Wednesday, June 09, 2021 2:33:30 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,526
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#663 Posted : Wednesday, June 09, 2021 3:22:53 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


CMA vacated years ago now nearly 10 years.
They went to Embankment building,Upper hill
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#664 Posted : Thursday, June 10, 2021 8:04:24 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#665 Posted : Thursday, June 10, 2021 8:31:06 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,526
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Queen
#666 Posted : Thursday, June 10, 2021 9:07:01 PM
Rank: Member


Joined: 11/21/2018
Posts: 464
Location: Britain
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


That Prism building in upper Hill has had no single tenant, now in the 4th year since it was commissioned by the President. I wonder who owns it.
Ericsson
#667 Posted : Thursday, June 10, 2021 9:20:59 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


Government is expanding and snapping up office space in Upper Hill.
I guess you saw an advert by IRA and CMA looking for a building to acquire.
IEBC also wants to purchase a building in the same locality.

KCB is expanding and some of the functions/divisions are taking up the space in Upper Hill.
ODPP of Noordin Hajji took up Union Towers that belongs to UAP after European union moved out.
KDIC (Kenya Deposit Insurance Corporation) has taken 5 floors in Old Mutual UAP Towers.
Those are a few cases of what is boosting office uptake in Upper Hill and that is why government is expanding the roads and infrastructure there.

So 5 years from now the scenario will be different and putting up an office building will not be a waste of money
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#668 Posted : Thursday, June 10, 2021 9:25:08 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
Queen wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


That Prism building in upper Hill has had no single tenant, now in the 4th year since it was commissioned by the President. I wonder who owns it.


The building is overlooking Israeli embassy hence no tenant there coz of security reasons.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Queen
#669 Posted : Friday, June 11, 2021 2:26:14 PM
Rank: Member


Joined: 11/21/2018
Posts: 464
Location: Britain
Ericsson wrote:
Queen wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


That Prism building in upper Hill has had no single tenant, now in the 4th year since it was commissioned by the President. I wonder who owns it.


The building is overlooking Israeli embassy hence no tenant there coz of security reasons.


Am not sure whether the Israeli embassy has got anything to do with the lack of occupancy in the building. In any case, next to it there is 4th or is it 5th Ngong Avenue building which is fully occupied. The newly constructed Tourism Fund building also neighbour the embassy and has some tenants already. Besides, the Prism building has lately put up a huge banner (almost covering the entire height of the building) looking for tenants. I suspect the architectural design of the building, which can give you a headache even from the outside, is entirely to blame for the lack of occupancy.

You got to feel pity for the proprietors moreso if they put up the building using credit facilities.
VituVingiSana
#670 Posted : Friday, June 11, 2021 3:43:11 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,526
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


Government is expanding and snapping up office space in Upper Hill.
I guess you saw an advert by IRA and CMA looking for a building to acquire.
IEBC also wants to purchase a building in the same locality.

KCB is expanding and some of the functions/divisions are taking up the space in Upper Hill.
ODPP of Noordin Hajji took up Union Towers that belongs to UAP after European union moved out.
KDIC (Kenya Deposit Insurance Corporation) has taken 5 floors in Old Mutual UAP Towers.
Those are a few cases of what is boosting office uptake in Upper Hill and that is why government is expanding the roads and infrastructure there.

So 5 years from now the scenario will be different and putting up an office building will not be a waste of money
So the only institution "expanding" is government but that is still not enough. It will be a colossal mistake to build a commercial/office building in UH in the next 5 years.

The ROIs are horrific. KenyaRe is better off going with T-Bonds for the next 5 years. Or investing in other good listed firms with good dividends.

Perhaps middle-class residential (with mixed-use e.g. some shops, some offices) in a skyscraper similar to what the Chinese build in their cities. Or a share buyback!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#671 Posted : Friday, June 11, 2021 3:45:07 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,526
Location: Nairobi
Queen wrote:
Ericsson wrote:
Queen wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


That Prism building in upper Hill has had no single tenant, now in the 4th year since it was commissioned by the President. I wonder who owns it.


The building is overlooking Israeli embassy hence no tenant there coz of security reasons.


Am not sure whether the Israeli embassy has got anything to do with the lack of occupancy in the building. In any case, next to it there is 4th or is it 5th Ngong Avenue building which is fully occupied. The newly constructed Tourism Fund building also neighbour the embassy and has some tenants already. Besides, the Prism building has lately put up a huge banner (almost covering the entire height of the building) looking for tenants. I suspect the architectural design of the building, which can give you a headache even from the outside, is entirely to blame for the lack of occupancy.

You got to feel pity for the proprietors moreso if they put up the building using credit facilities.
Laughing out loudly Laughing out loudly Laughing out loudly Ati, "The building is overlooking Israeli embassy hence no tenant there coz of security reasons." given the Israelis are switched on and could have stopped the construction in some form or fashion had they wanted to.
As you mentioned, there are so many other buildings close by.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#672 Posted : Friday, June 11, 2021 6:26:08 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
Queen wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


That Prism building in upper Hill has had no single tenant, now in the 4th year since it was commissioned by the President. I wonder who owns it.


The building is overlooking Israeli embassy hence no tenant there coz of security reasons.


Am not sure whether the Israeli embassy has got anything to do with the lack of occupancy in the building. In any case, next to it there is 4th or is it 5th Ngong Avenue building which is fully occupied. The newly constructed Tourism Fund building also neighbour the embassy and has some tenants already. Besides, the Prism building has lately put up a huge banner (almost covering the entire height of the building) looking for tenants. I suspect the architectural design of the building, which can give you a headache even from the outside, is entirely to blame for the lack of occupancy.

You got to feel pity for the proprietors moreso if they put up the building using credit facilities.
Laughing out loudly Laughing out loudly Laughing out loudly Ati, "The building is overlooking Israeli embassy hence no tenant there coz of security reasons." given the Israelis are switched on and could have stopped the construction in some form or fashion had they wanted to.
As you mentioned, there are so many other buildings close by.



Just passed by Upper Hill and I saw a banner on KCB towers saying fully let
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#673 Posted : Friday, June 11, 2021 6:28:20 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


Government is expanding and snapping up office space in Upper Hill.
I guess you saw an advert by IRA and CMA looking for a building to acquire.
IEBC also wants to purchase a building in the same locality.

KCB is expanding and some of the functions/divisions are taking up the space in Upper Hill.
ODPP of Noordin Hajji took up Union Towers that belongs to UAP after European union moved out.
KDIC (Kenya Deposit Insurance Corporation) has taken 5 floors in Old Mutual UAP Towers.
Those are a few cases of what is boosting office uptake in Upper Hill and that is why government is expanding the roads and infrastructure there.

So 5 years from now the scenario will be different and putting up an office building will not be a waste of money
So the only institution "expanding" is government but that is still not enough. It will be a colossal mistake to build a commercial/office building in UH in the next 5 years.

The ROIs are horrific. KenyaRe is better off going with T-Bonds for the next 5 years. Or investing in other good listed firms with good dividends.

Perhaps middle-class residential (with mixed-use e.g. some shops, some offices) in a skyscraper similar to what the Chinese build in their cities. Or a share buyback!


Middle-class residential with mixed use,where is the land.
The ones they own are in court due to ownership dispute e.g Kiambu road,Shanzu
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#674 Posted : Saturday, June 12, 2021 12:35:45 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,526
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
Queen wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


That Prism building in upper Hill has had no single tenant, now in the 4th year since it was commissioned by the President. I wonder who owns it.


The building is overlooking Israeli embassy hence no tenant there coz of security reasons.


Am not sure whether the Israeli embassy has got anything to do with the lack of occupancy in the building. In any case, next to it there is 4th or is it 5th Ngong Avenue building which is fully occupied. The newly constructed Tourism Fund building also neighbour the embassy and has some tenants already. Besides, the Prism building has lately put up a huge banner (almost covering the entire height of the building) looking for tenants. I suspect the architectural design of the building, which can give you a headache even from the outside, is entirely to blame for the lack of occupancy.

You got to feel pity for the proprietors moreso if they put up the building using credit facilities.
Laughing out loudly Laughing out loudly Laughing out loudly Ati, "The building is overlooking Israeli embassy hence no tenant there coz of security reasons." given the Israelis are switched on and could have stopped the construction in some form or fashion had they wanted to.
As you mentioned, there are so many other buildings close by.



Just passed by Upper Hill and I saw a banner on KCB towers saying fully let
Like those banners that say 80% sold?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#675 Posted : Saturday, June 12, 2021 12:37:20 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,526
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


Government is expanding and snapping up office space in Upper Hill.
I guess you saw an advert by IRA and CMA looking for a building to acquire.
IEBC also wants to purchase a building in the same locality.

KCB is expanding and some of the functions/divisions are taking up the space in Upper Hill.
ODPP of Noordin Hajji took up Union Towers that belongs to UAP after European union moved out.
KDIC (Kenya Deposit Insurance Corporation) has taken 5 floors in Old Mutual UAP Towers.
Those are a few cases of what is boosting office uptake in Upper Hill and that is why government is expanding the roads and infrastructure there.

So 5 years from now the scenario will be different and putting up an office building will not be a waste of money
So the only institution "expanding" is government but that is still not enough. It will be a colossal mistake to build a commercial/office building in UH in the next 5 years.

The ROIs are horrific. KenyaRe is better off going with T-Bonds for the next 5 years. Or investing in other good listed firms with good dividends.

Perhaps middle-class residential (with mixed-use e.g. some shops, some offices) in a skyscraper similar to what the Chinese build in their cities. Or a share buyback!


Middle-class residential with mixed use,where is the land.
The ones they own are in court due to ownership dispute e.g Kiambu road,Shanzu
Which are these on Kiambu rd and Shanzu?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#676 Posted : Saturday, June 12, 2021 8:28:26 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


Government is expanding and snapping up office space in Upper Hill.
I guess you saw an advert by IRA and CMA looking for a building to acquire.
IEBC also wants to purchase a building in the same locality.

KCB is expanding and some of the functions/divisions are taking up the space in Upper Hill.
ODPP of Noordin Hajji took up Union Towers that belongs to UAP after European union moved out.
KDIC (Kenya Deposit Insurance Corporation) has taken 5 floors in Old Mutual UAP Towers.
Those are a few cases of what is boosting office uptake in Upper Hill and that is why government is expanding the roads and infrastructure there.

So 5 years from now the scenario will be different and putting up an office building will not be a waste of money
So the only institution "expanding" is government but that is still not enough. It will be a colossal mistake to build a commercial/office building in UH in the next 5 years.

The ROIs are horrific. KenyaRe is better off going with T-Bonds for the next 5 years. Or investing in other good listed firms with good dividends.

Perhaps middle-class residential (with mixed-use e.g. some shops, some offices) in a skyscraper similar to what the Chinese build in their cities. Or a share buyback!


Middle-class residential with mixed use,where is the land.
The ones they own are in court due to ownership dispute e.g Kiambu road,Shanzu
Which are these on Kiambu rd and Shanzu?


Kiambu road is the 50 acres dispute with Ngengi Muigai
Shanzu it's 23 acres with Kenya prisons.
More information in their 2019 annual report.

https://www.businessdail...6-billion-assets-3255130
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#677 Posted : Saturday, June 12, 2021 3:21:12 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,526
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


Government is expanding and snapping up office space in Upper Hill.
I guess you saw an advert by IRA and CMA looking for a building to acquire.
IEBC also wants to purchase a building in the same locality.

KCB is expanding and some of the functions/divisions are taking up the space in Upper Hill.
ODPP of Noordin Hajji took up Union Towers that belongs to UAP after European union moved out.
KDIC (Kenya Deposit Insurance Corporation) has taken 5 floors in Old Mutual UAP Towers.
Those are a few cases of what is boosting office uptake in Upper Hill and that is why government is expanding the roads and infrastructure there.

So 5 years from now the scenario will be different and putting up an office building will not be a waste of money
So the only institution "expanding" is government but that is still not enough. It will be a colossal mistake to build a commercial/office building in UH in the next 5 years.

The ROIs are horrific. KenyaRe is better off going with T-Bonds for the next 5 years. Or investing in other good listed firms with good dividends.

Perhaps middle-class residential (with mixed-use e.g. some shops, some offices) in a skyscraper similar to what the Chinese build in their cities. Or a share buyback!


Middle-class residential with mixed use,where is the land.
The ones they own are in court due to ownership dispute e.g Kiambu road,Shanzu
Which are these on Kiambu rd and Shanzu?


Kiambu road is the 50 acres dispute with Ngengi Muigai
Shanzu it's 23 acres with Kenya prisons.
More information in their 2019 annual report.

https://www.businessdail...-billion-assets-3255130
These are provided for.
I was referring to the UH plot. If they build middle-class apartments (Chinese style) in a skyscraper with a mixed use component. Not GTC, not fancy, not large... something affordable for singles and young couples (DINKs). NOT another office building in the next 5 years.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#678 Posted : Saturday, June 12, 2021 6:06:16 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.


Government is expanding and snapping up office space in Upper Hill.
I guess you saw an advert by IRA and CMA looking for a building to acquire.
IEBC also wants to purchase a building in the same locality.

KCB is expanding and some of the functions/divisions are taking up the space in Upper Hill.
ODPP of Noordin Hajji took up Union Towers that belongs to UAP after European union moved out.
KDIC (Kenya Deposit Insurance Corporation) has taken 5 floors in Old Mutual UAP Towers.
Those are a few cases of what is boosting office uptake in Upper Hill and that is why government is expanding the roads and infrastructure there.

So 5 years from now the scenario will be different and putting up an office building will not be a waste of money
So the only institution "expanding" is government but that is still not enough. It will be a colossal mistake to build a commercial/office building in UH in the next 5 years.

The ROIs are horrific. KenyaRe is better off going with T-Bonds for the next 5 years. Or investing in other good listed firms with good dividends.

Perhaps middle-class residential (with mixed-use e.g. some shops, some offices) in a skyscraper similar to what the Chinese build in their cities. Or a share buyback!


Middle-class residential with mixed use,where is the land.
The ones they own are in court due to ownership dispute e.g Kiambu road,Shanzu
Which are these on Kiambu rd and Shanzu?


Kiambu road is the 50 acres dispute with Ngengi Muigai
Shanzu it's 23 acres with Kenya prisons.
More information in their 2019 annual report.

https://www.businessdail...-billion-assets-3255130
These are provided for.
I was referring to the UH plot. If they build middle-class apartments (Chinese style) in a skyscraper with a mixed use component. Not GTC, not fancy, not large... something affordable for singles and young couples (DINKs). NOT another office building in the next 5 years.


The Upper hill plot isn't that big enough to accommodate the components of mixed use.The size of land is about 3/4 acre.
The location of the plot is also not conducive for middle-class apartments.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#679 Posted : Saturday, June 12, 2021 11:56:11 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Queen wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
VituVingiSana wrote:
No results and it's already June!

Disappointing.


Kenya Re 2020 results:

- Gross written premiums up 5.7%
- Net earned premiums up 34.2%
- Claims incurred up 21.7%
- Cedant acquisition costs up 29.8%
- Profit b4 tax down 4.6%
- Total Assets up 5.7%
- Dividend of Kshs. 0.20 (DPR:20%)
Book closure 30 June 2021
Payment date 13 August 2021

Registration for the AGM opens on 2 June and closes on Monday 28 June at 11am
Link to the full results;
https://mwangocapital.fi...21/06/kenya-re-2020.pdf

That dividend yield is decent. Not interested though, because of the trap


It's a better counter compared to KQ and HFCK.


A taller dwarf compared to those other two dwarfs.

The results are quite good under the circumstances. From the earlier press release it seems KenyaRe might have had take some additional hits/provisions relating to new rules/IFRS.

I am waiting to read the Chairman and CEO's letters.


Plus the details in the annual report.
Investment income on revaluation of properties got a beating.
About time KenyaRe got real about property valuations. I always discount these when I do my analysis.

- Kisumu property for sale at 1bn but no offers it seems.
- Vacancies in existing properties due to COVID and other reasons.
- CMA looking to move
- Upper Hill plot is dead in the water for now.

There wasn't much of a FV loss in 2020 in the accounts but in reality it should have been much higher.


CMA is not a tenant in any of Kenya Re properties.
Upper Hill plot someone has leased it and is selling used vehicles

Used car lot = dead in the water for now.
Wasn't CMA in Kenya Re Tower/Building in CBD? Anyway... more empty spaces.


The upper hill plot maybe from 2025 can they revisit it.
That may also be their new Hq and they fully rent out Reinsurance Plaza CBD

Waste of money building a new office building in UH in the next 5 years.
KCB has vacancies.
Britam has vacancies.
UAP probably has vacancies.
And many more A Class buildings within 1 km of UH have vacancies.
Westlands has new office buildings coming up.



The glut in office space in Westlands is too much.
New buildings are coming up yet the roads are narrow
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#680 Posted : Thursday, July 01, 2021 11:34:43 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ebenyo wrote:
[quote=VituVingiSana]New date in my head is 15 May 2021.
And ready to extend it to 30 May 2021.

At least the AGM can be held "early" since they do not need to rent/hire Bomas/KICC since the AGM will be virtual. No need to plan for tents, gifts, food, etc for 1000s of shareholders.

I hope they announce a dividend but given COVID I am not banking on it anymore. If they do, pay it out pap!


Last year results was released on 28th March.I wonder why it has taken so long this time.The squabble in the board concerning Mwarania seems not to be over.
COVID? New Auditor General?

Delay is due to change in actuarial valuation methodology in respect to Unearned Premium Reserves and claims reserves to an approach recommended by Insurance Regulatory Authority of Kenya.
This was to ensure regulatory compliance in reserving for both unearned premiums and claims by the corporation.
Every effort is being exerted to have the results released before 31 May 2021.


https://mobile.twitter.c...009163862155265/photo/1[/quote] 31st May 2021 it is.


Change in actuarial valuation methodology in respect to Unearned premium reserves and claim reserves affecting all insurance and reinsurance companies following directive from IRA.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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