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CIC HY 2017 PBT UP 28%
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Ericsson
#1 Posted : Friday, July 28, 2017 10:41:00 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
--Profit before tax growth of 28% to Kshs. 430M
--Investment Income growth of 54% as investments on the NSE begin to bear fruit.
--Gross Premium growth of 20% to 7.5B
--Claims incurred increased to Kshs. 4.1B in line with business growth.
--Shareholder fund growth by 1% and Total Assets by 11%
--CIC Insurance subsidiary CIC Asset Management Ltd. HY 17 PBT up 376% to Kshs. 33,878,000. All its funds also report substantial growth.

--Medical Business is a key strategy and is already delivering 20% to the General Business
--CIC is the biggest in Motor Commercial and Engineering classes of General Insurance with 12% market share in Motor Commercial
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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winston
#2 Posted : Friday, July 28, 2017 4:00:08 PM
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Location: Nairobi
@Ericsson...if the equities crash between now and endyear...might not bode well for the counter
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Ericsson
#3 Posted : Sunday, July 30, 2017 11:57:22 PM
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winston wrote:
@Ericsson...if the equities crash between now and endyear...might not bode well for the counter


Not that much as the company is diversified into other divisions where its amongst the top 5
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#4 Posted : Sunday, July 30, 2017 11:59:43 PM
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Posts: 10,809
Location: NAIROBI
CIC corners a quarter of unit trusts market

CIC Insurance has firmed up its top unit trust market-share position, accounting for nearly a quarter of industry assets under management, fresh data from the Capital Markets Authority (CMA) shows.
The CMA data contained in second quarter to June bulletin shows that by the end of March, CIC’s unit trust scheme had Sh13.49 billion in funds under management, accounting for 24.2 per cent of the industry total of Sh55.8 billion.
Britam’s unit trust scheme follows with a market share of 18.7 per cent, ahead of Old Mutual at 14.49 per cent and ICEA at 9.95 per cent.

http://www.businessdaily...038420-mef8xv/index.html
Wealth is built through a relatively simple equation
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Ericsson
#5 Posted : Monday, July 31, 2017 10:45:01 AM
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http://kenyanwallstreet....tive-investments-schemes
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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winston
#6 Posted : Monday, July 31, 2017 2:57:59 PM
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Posts: 806
Location: Nairobi
Ericsson wrote:
winston wrote:
@Ericsson...if the equities crash between now and endyear...might not bode well for the counter


Not that much as the company is diversified into other divisions where its amongst the top 5


My study of the p&l is that the PBT is largely coming from Investment income...and from their comments this benefitted from upturn in equities. I dont expect much by way of underwriting profits...therefore their PBT is most sensitive to equities...

Diversification into Unit trusts doesnt make alot of difference on the bottomline...the margin they make on unit trusts isnt much...The promoters of Unit trust earn a fee...which is then split between them, custodians, investment managers etc. With the number of UT around there isnt much room to increase fee rates.
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Pesa Nane
#7 Posted : Monday, July 31, 2017 5:51:28 PM
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Pesa Nane plans to be shilingi when he grows up.
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winston
#8 Posted : Monday, July 31, 2017 9:36:00 PM
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from above taking movement between 2017 and 2016: investment income change is around 700m but its eaten by underwriting loss movement of around 600m to give a pbt movement of 100m.
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Ericsson
#9 Posted : Tuesday, August 01, 2017 2:17:46 PM
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CIC Insurance sets a new 52-week high of Kshs. 5 on reduction of stake in loss making UG subsidiary & strong half year results.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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muandiwambeu
#10 Posted : Wednesday, August 02, 2017 1:14:48 PM
Rank: Veteran

Joined: 8/28/2015
Posts: 1,247
H1 banks results are taking eons. Can't wait to peep through them. Any one willing to cool our election tempers with some surprises.d'oh!
,Behold, a sower went forth to sow;....
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  | | Edit by user: Wednesday, August 02, 2017 1:21 PM | Reason: Not specified
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