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CIC Insurance group H1 2012 Results
Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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I remember last year going to Suntra to place an order to buy in the range of 60-70 bob. the lady mandated to trade them at the counter sized me up, sniled cheekly and said the shares were going for 110-130 bob and on listing they will touch 200 bob. since i did not want to look foolish by asking what were the fundamentals, i said thank you and left. Thank God for small mercy like that one. Thieves
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Rank: Member Joined: 2/8/2007 Posts: 808
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Again I said avoid underwriters (insurance companies) whose book is very dominated by medical and private motor vehicles. There is no money to be made and the fraud levels are legendary. This equates to a net claim buyer but masked by the large cashflows going through the account.
I would be selling the share if a kenyan underwriter told me they have doubled their medical book, unless they were BUPA International. If indeed CIC have doubled their medical book expect less than the 400m they made during the first half and you can take this to the bank.
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Rank: Member Joined: 1/17/2009 Posts: 55
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Kausha wrote:Again I said avoid underwriters (insurance companies) whose book is very dominated by medical and private motor vehicles. There is no money to be made and the fraud levels are legendary. This equates to a net claim buyer but masked by the large cashflows going through the account.
I would be selling the share if a kenyan underwriter told me they have doubled their medical book, unless they were BUPA International. If indeed CIC have doubled their medical book expect less than the 400m they made during the first half and you can take this to the bank.
Doubled their premiums... there is a difference
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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King G wrote:I remember last year going to Suntra to place an order to buy in the range of 60-70 bob. the lady mandated to trade them at the counter sized me up, sniled cheekly and said the shares were going for 110-130 bob and on listing they will touch 200 bob. since i did not want to look foolish by asking what were the fundamentals, i said thank you and left. Thank God for small mercy like that one.
I think the price at that time was reasonable. It was only after the decision was meant to allow Saccos buy more shares that CIC was diluted further.
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CIC Insurance group H1 2012 Results
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