Dividend 75 cents per share

At price of 20 that gives a DY of 3.75%.

Paltry dividend is what keeps the stock from realizing full potential.

I am happy with the direction the firm is taking. Slow expansion, strong balance sheet.

(Re)Insurance firms are rated by several agencies and given 'grades' which reflect their strength and claims paying ability. Under IRA regulations, insurance firms need to keep minimum cash (or near cash) assets depending on the size of their potential liabilities.

KenRe to grow its underwriting needs to retain 'cash' to write more business. I think KenyaRe has a dividend policy based on cash earnings vs EPS.

Conservative insurance companies thrive in a volatile market.

I have looked at the results and they are impressive. I however note that they have not passed their equity loss in the PL statement. I thus suspect that they are not correcting stating their pl for FY 15( QE 2014 3,256 M vers QE 2015 2,553 M a loss of over 700 M)

NSE gains and losses are passed directly onto the equity account without passing onto the P&L.Thus EPS is unaffected but reflects in NAV

The reason why this is allowed is that Kenya re and Jubilee want to avoid wide swings in EPS thus offering share price stability

I am pretty sure this statement is not true. Why would insurance firms be allowed an accounting treatment [by IFRS, ICPAK] to offer price stability of the shares?

IFRS recognises various accounting policies and estimation methods for accounting items.

It all depends on the opinion you hold as long it does not compromise on the true and fair view of the company's position.

In this case these accounting tricks are not immediately apparent to Wanjiku and therefore Kenya re and Jubilee enjoy more stable share prices compared to other insurers.

That is when i would start taking this share seriously, but a very low shareholding by GOK less than 5%. or lower, better yet they offload completely. but thats just a dream, and im sure the company would be come better valued if that was the case.

With EPS of 5.1 they should reward shareholders abit more,especially given the consistent nature of their perfomance over the years