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Pan Africa Insurance HY 2014 earnings down 51%

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maka		#11 Posted : Wednesday, February 18, 2015 5:44:35 PM
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi		Profit warning pap... possunt quia posse videntur
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murchr		#12 Posted : Wednesday, February 18, 2015 5:53:37 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		maka wrote: Profit warning pap... Dyer & Blair wrote: Dear Esteemed Client, Pan Africa Insurance Holdings has issued a profit warning for the year ended 31st December 2014. The company expects profit after tax for the period ending 31 December 2014 to decline more than 25 percent compared to the profit reported for the year ended 31st December 2014. The decline is attributable to the lower profits from sale of property in 2014 compared to 2013 and lower unrealized mark-to-market gains on equity investments in 2014. The company reported a 42.46 percent drop in profit before tax during the first half of 2014 majorly from lower gains in equity investments in 2014 compared to 2013. The company’s shareholders, in December 2014, approved the acquisition of at least 51 percent of Gateway insurance company limited. Through this acquisition, the company seeks to enter into the general insurance business. Pan Africa trades at a price to earnings of 9.1x and a price to book of 3.4x compared to a sector average of 13x and 2.9x respectively. Risks: Competition within the life business has been edging into the company’s gross premiums. Exposure to the equities market remains key risk. Upside: The entry into the general business will cushion the overall premium growth for the company which has been under competitive pressure. Insurance penetration remains very low in the operating market, thereby presenting an opportunity for both life and general business. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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Pesa Nane		#13 Posted : Wednesday, February 18, 2015 9:54:13 PM
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c		Pesa Nane plans to be shilingi when he grows up.
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hisah		#14 Posted : Thursday, February 19, 2015 8:10:39 AM
Rank: Chief Joined: 8/4/2010 Posts: 8,977		Has been a sell since Q1 2014. It's a no brainer CGT confusion will shave the equity porfolio again. If the incoming CBK governor spooks the market... You get the drift. When is short selling starting to reset utopia valuations on some counters? $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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actuarywahisa		#15 Posted : Thursday, February 19, 2015 10:33:41 AM
Rank: Member Joined: 5/21/2014 Posts: 184		hisah wrote: Has been a sell since Q1 2014. It's a no brainer CGT confusion will shave the equity porfolio again. If the incoming CBK governor spooks the market... You get the drift. When is short selling starting to reset utopia valuations on some counters? Very true. The CGT thing will really dent the companies that are heavily invested in the stock market. Methinks though that good opportunities are also going to show up due to the same. We need to kaa chonjo!! There are too many opportunities all around. Open your eyes and maybe you'll spot one
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Pesa Nane		#16 Posted : Wednesday, February 25, 2015 10:47:19 AM
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c		Pan Africa Insurance Holdings Limited - Appointment of the Group CEO Pesa Nane plans to be shilingi when he grows up.
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chiaroscuro		#17 Posted : Wednesday, February 25, 2015 11:04:26 AM
Rank: Veteran Joined: 2/2/2012 Posts: 1,134 Location: Nairobi		Pesa Nane wrote: Pan Africa Insurance Holdings Limited - Appointment of the Group CEO Can he do a repeat of what he did at EA Cables?
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Othelo		#18 Posted : Wednesday, February 25, 2015 11:19:21 AM
Rank: User Joined: 1/20/2014 Posts: 3,528		chiaroscuro wrote: Pesa Nane wrote: Pan Africa Insurance Holdings Limited - Appointment of the Group CEO Can he do a repeat of what he did at EA Cables? My thinking Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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kryptonite		#19 Posted : Wednesday, February 25, 2015 11:25:54 AM
Rank: Member Joined: 2/1/2010 Posts: 272 Location: Nairobi		Pesa Nane wrote: Pan Africa Insurance Holdings Limited - Appointment of the Group CEO If his track record is anything to go by, this is a fantastic appointment. Now my interest in this counter is piqued. The harder you work, the luckier you get
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Ericsson		#20 Posted : Wednesday, February 25, 2015 1:24:00 PM
Rank: Elder Joined: 12/4/2009 Posts: 10,810 Location: NAIROBI		Let's see his investment skills and how they will be applied as insurance companies are more of investment companies. Me thinks the appointment has also a political alignment. Kenya is a land of deals and connections Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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