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Sanlam Kenya Plc HY16
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sparkly
#11 Posted : Friday, December 30, 2016 1:39:48 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Ebenyo wrote:
Pesa Nane wrote:
HY16 Sad
FY16 Sad Sad



profit warning two years in a row?


This stock was a Wazua favourite just the other day. Good company... NOT
Life is short. Live passionately.
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  | | Edit by user: Friday, December 30, 2016 1:41 PM | Reason: Not specified
actuarywahisa
#12 Posted : Friday, December 30, 2016 2:50:13 PM
Rank: Member

Joined: 5/21/2014
Posts: 184
sparkly wrote:
Ebenyo wrote:
Pesa Nane wrote:
HY16 Sad
FY16 Sad Sad



profit warning two years in a row?


This stock was a Wazua favourite just the other day. Good company... NOT


There was a serious business disruption when the company opted to change its main system. That project was completely mishandled and the company bled hard in terms of human resource on sales agents.

Departure of Tom Gitogo to CIC and the GM and a BIIIIG group in its executive team as a result of the uncertainty.

Plus any Insurance company with a big part of its book as life assurance is going to take a hit when there is uncertainty in the economy.

Best way is to wait for the end year results to be released in March and then for the stock to settle after that and then taking a long term position.
There are too many opportunities all around. Open your eyes and maybe you'll spot one
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Ericsson
#13 Posted : Friday, December 30, 2016 5:12:35 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
That is the problem as an insurance company in Kenya when you fail to invest in property and real estate.
This would have given some income through revaluation and rental income.
Problem is Sanlam PLC doesn't want anything to do with real estate in kenya.
Too baaaad with the south african mode of business
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#14 Posted : Friday, December 30, 2016 5:13:57 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
actuarywahisa wrote:
sparkly wrote:
Ebenyo wrote:
Pesa Nane wrote:
HY16 Sad
FY16 Sad Sad



profit warning two years in a row?


This stock was a Wazua favourite just the other day. Good company... NOT


There was a serious business disruption when the company opted to change its main system. That project was completely mishandled and the company bled hard in terms of human resource on sales agents.

Departure of Tom Gitogo to CIC and the GM and a BIIIIG group in its executive team as a result of the uncertainty.

Plus any Insurance company with a big part of its book as life assurance is going to take a hit when there is uncertainty in the economy.

Best way is to wait for the end year results to be released in March and then for the stock to settle after that and then taking a long term position.


CIC share price where Tom Gitogo went to has also received a thorough beating this year
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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WWW
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mawinder
#15 Posted : Saturday, December 31, 2016 7:18:15 AM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
Ericsson wrote:
That is the problem as an insurance company in Kenya when you fail to invest in property and real estate.
This would have given some income through revaluation and rental income.
Problem is Sanlam PLC doesn't want anything to do with real estate in kenya.
Too baaaad with the south african mode of business

They are building something off Waiyaki way
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actuarywahisa
#16 Posted : Tuesday, January 03, 2017 9:50:03 AM
Rank: Member

Joined: 5/21/2014
Posts: 184
mawinder wrote:
Ericsson wrote:
That is the problem as an insurance company in Kenya when you fail to invest in property and real estate.
This would have given some income through revaluation and rental income.
Problem is Sanlam PLC doesn't want anything to do with real estate in kenya.
Too baaaad with the south african mode of business

They are building something off Waiyaki way


Correct. Since late 2014.

http://www.businessdaily...6198-fs15ucz/index.html
There are too many opportunities all around. Open your eyes and maybe you'll spot one
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  |
Impunity
#17 Posted : Tuesday, January 03, 2017 12:05:58 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
actuarywahisa wrote:
mawinder wrote:
Ericsson wrote:
That is the problem as an insurance company in Kenya when you fail to invest in property and real estate.
This would have given some income through revaluation and rental income.
Problem is Sanlam PLC doesn't want anything to do with real estate in kenya.
Too baaaad with the south african mode of business

They are building something off Waiyaki way


Correct. Since late 2014.

http://www.businessdaily...6198-fs15ucz/index.html



How safe is my funds (units) currently held in there?
d'oh!
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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actuarywahisa
#18 Posted : Tuesday, January 03, 2017 3:10:14 PM
Rank: Member

Joined: 5/21/2014
Posts: 184
Impunity wrote:
actuarywahisa wrote:
mawinder wrote:
Ericsson wrote:
That is the problem as an insurance company in Kenya when you fail to invest in property and real estate.
This would have given some income through revaluation and rental income.
Problem is Sanlam PLC doesn't want anything to do with real estate in kenya.
Too baaaad with the south african mode of business

They are building something off Waiyaki way


Correct. Since late 2014.

http://www.businessdaily...6198-fs15ucz/index.html



How safe is my funds (units) currently held in there?
d'oh!


Your funds are good. From what I have heard from guys in Sanlam and UAP after Old Mutual take over, SA guys don't like cutting corners. The main thing they are usually faulted for is 'using thorax' or 'bull-dozing' stuff.
There are too many opportunities all around. Open your eyes and maybe you'll spot one
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actuarywahisa
#19 Posted : Tuesday, January 03, 2017 3:17:16 PM
Rank: Member

Joined: 5/21/2014
Posts: 184
Impunity wrote:
actuarywahisa wrote:
mawinder wrote:
Ericsson wrote:
That is the problem as an insurance company in Kenya when you fail to invest in property and real estate.
This would have given some income through revaluation and rental income.
Problem is Sanlam PLC doesn't want anything to do with real estate in kenya.
Too baaaad with the south african mode of business

They are building something off Waiyaki way


Correct. Since late 2014.

http://www.businessdaily...6198-fs15ucz/index.html



How safe is my funds (units) currently held in there?
d'oh!


Your funds are good. Not that the firm cannot fail but for sure it is better managed than most other players in the industry.

I know from a few guys in Sanlam and UAP (especially after take-over by Old Mutual), that SA guys don't like cutting corners. The main thing they are usually faulted for is 'using thorax' or 'bull-dozing' when it comes to implementing stuff.
There are too many opportunities all around. Open your eyes and maybe you'll spot one
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alotoftalk
#20 Posted : Wednesday, January 04, 2017 3:53:59 AM
Rank: Member

Joined: 8/27/2015
Posts: 138
Location: Harare
Ericsson wrote:
That is the problem as an insurance company in Kenya when you fail to invest in property and real estate.
This would have given some income through revaluation and rental income.
Problem is Sanlam PLC doesn't want anything to do with real estate in kenya.
Too baaaad with the south african mode of business


The SA insurance business is actually focused on high quality real estate developments. Sandton City is owned by Liberty.

Sanlam the parent company is also in real estate

https://www.sanlaminvest...ts.com/sanlamproperties

Also, Sanlam is the pre-cursor to Pan African Life which developed most of Runda and the press release clearly states..lower income from property sales.

And in general, you can't run a life insurance business with no property investments unless your persistency is on a multi-year negative trend or you are in run-off.
Investment philosophy development in progress...
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  | | Edit by user: Wednesday, January 04, 2017 3:58 AM | Reason: fix broken link
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