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CFC Insurance 1H 2012 Results
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FUNKY
#1 Posted : Wednesday, August 29, 2012 8:41:47 AM
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StatMeister
#2 Posted : Wednesday, August 29, 2012 9:11:17 AM
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HY EPS down 25%?
A bad day fishing is better than a good day at work
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PKoli
#3 Posted : Wednesday, August 29, 2012 9:25:12 AM
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StatMeister wrote:
HY EPS down 25%?


Not so good when the industry was up. What hapenned to their investment business?
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FUNKY
#4 Posted : Wednesday, August 29, 2012 9:28:09 AM
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"The consolidated premium revenue, investment income and commissions earned grew ... However these gains were negatively affected by increase in borrowing costs and inflation-driven operating expenses," the company said in a statement.
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StatMeister
#5 Posted : Wednesday, August 29, 2012 9:35:23 AM
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FUNKY wrote:
"The consolidated premium revenue, investment income and commissions earned grew ... However these gains were negatively affected by increase in borrowing costs and inflation-driven operating expenses," the company said in a statement.


I thought insurance companies invest premiums (not borrowings) in the stocks. The cost for placing order is a standard 1.8%, no relation to inflation.

I don't buy it
A bad day fishing is better than a good day at work
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FUNKY
#6 Posted : Wednesday, August 29, 2012 9:44:39 AM
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First insurance company to report a drop in profits!
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mkonomtupu
#7 Posted : Wednesday, August 29, 2012 11:48:17 AM
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deposits with financial institutions 1.6b in 2011 to 3.5b, marginal growth in investment income...surely what's wrong with their fund managers? so disappointing
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PKoli
#8 Posted : Wednesday, August 29, 2012 2:36:23 PM
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StatMeister wrote:
HY EPS down 25%?

Mr. Market does not seem disappointed with CFCI results. Demand is higher than on normal days.
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FUNKY
#9 Posted : Thursday, August 30, 2012 8:37:00 AM
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mwekez@ji
#10 Posted : Thursday, August 30, 2012 11:04:14 AM
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Joined: 5/31/2011
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Poor results. The business is also too risk averse. Its retention ratio is one of the lowest in the industry at 60% (meaning its passing on 40% of its premiums to reinsurers). To cap their risk averseness, they have deposited a whooping KES 3.5B in financial institutions (that float can earn far better if they were to stomach more risk). #Bloody bure
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