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Kenya Re HY2017
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Ericsson
#1 Posted : Friday, August 04, 2017 11:38:52 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,798
Location: NAIROBI
Profit before tax increased by 4% from ksh. 2.212bn to ksh. 2.294bn
Gross premiums written grew by 6% for the six months period ended 30th June 2017 from ksh. 7.096bn to ksh. 7.504bn
Total assets increased by 6% from ksh. 38.94bn in December 2016 to ksh. 40.736bn in June 2017
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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bartum
#2 Posted : Friday, August 04, 2017 11:53:37 AM
Rank: Veteran


Joined: 8/11/2010
Posts: 1,011
Location: nairobi
Ericsson wrote:
Profit before tax increased by 4% from ksh. 2.212bn to ksh. 2.294bn
Gross premiums written grew by 6% for the six months period ended 30th June 2017 from ksh. 7.096bn to ksh. 7.504bn
Total assets increased by 6% from ksh. 38.94bn in December 2016 to ksh. 40.736bn in June 2017

Dvdnd
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Sir Jones
#3 Posted : Friday, August 04, 2017 1:25:00 PM
Rank: Member


Joined: 3/10/2009
Posts: 36
Ericsson wrote:
Profit before tax increased by 4% from ksh. 2.212bn to ksh. 2.294bn
Gross premiums written grew by 6% for the six months period ended 30th June 2017 from ksh. 7.096bn to ksh. 7.504bn
Total assets increased by 6% from ksh. 38.94bn in December 2016 to ksh. 40.736bn in June 2017

Kenya Re Half Year 2017 Net Profit hit Ksh.1.6 Billion
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winston
#4 Posted : Friday, August 04, 2017 2:32:00 PM
Rank: Member


Joined: 4/14/2010
Posts: 806
Location: Nairobi
Strictly speaking Kenya Re should do more...with its 20% mandatory receipt of all reinsurances in Kenya...it should at least grow top line at a minimum of the growth rate in the industry (roughly 8% - 11%). Sleeping on potential.
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obiero
#5 Posted : Sunday, August 06, 2017 6:03:00 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,973
Location: nairobi
winston wrote:
Strictly speaking Kenya Re should do more...with its 20% mandatory receipt of all reinsurances in Kenya...it should at least grow top line at a minimum of the growth rate in the industry (roughly 8% - 11%). Sleeping on potential.

@Winston I could not agree more, though @ericsson appears to have issued slightly dodgy results aka fake news, here below are the actuals:


KQ ABP 4.48; MTN ABP 5.20
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Ericsson
#6 Posted : Sunday, August 06, 2017 6:47:43 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,798
Location: NAIROBI
obiero wrote:
winston wrote:
Strictly speaking Kenya Re should do more...with its 20% mandatory receipt of all reinsurances in Kenya...it should at least grow top line at a minimum of the growth rate in the industry (roughly 8% - 11%). Sleeping on potential.

@Winston I could not agree more, though @ericsson appears to have issued slightly dodgy results aka fake news, here below are the actuals:



@Obiero
I can't compete and be like you in giving fake news.
There is a difference between company and group.
The results i gave were for the group
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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obiero
#7 Posted : Sunday, August 06, 2017 6:56:42 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,973
Location: nairobi
Ericsson wrote:
obiero wrote:
winston wrote:
Strictly speaking Kenya Re should do more...with its 20% mandatory receipt of all reinsurances in Kenya...it should at least grow top line at a minimum of the growth rate in the industry (roughly 8% - 11%). Sleeping on potential.

@Winston I could not agree more, though @ericsson appears to have issued slightly dodgy results aka fake news, here below are the actuals:



@Obiero
I can't compete and be like you in giving fake news.
There is a difference between company and group.
The results i gave were for the group

Weka link

KQ ABP 4.48; MTN ABP 5.20
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Ericsson
#8 Posted : Sunday, August 06, 2017 7:22:13 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,798
Location: NAIROBI
obiero wrote:
Ericsson wrote:
obiero wrote:
winston wrote:
Strictly speaking Kenya Re should do more...with its 20% mandatory receipt of all reinsurances in Kenya...it should at least grow top line at a minimum of the growth rate in the industry (roughly 8% - 11%). Sleeping on potential.

@Winston I could not agree more, though @ericsson appears to have issued slightly dodgy results aka fake news, here below are the actuals:



@Obiero
I can't compete and be like you in giving fake news.
There is a difference between company and group.
The results i gave were for the group

Weka link


Ziko kwa gazetti ya Friday let me search for the newspaper again then paste here
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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winston
#9 Posted : Monday, August 07, 2017 10:37:04 AM
Rank: Member


Joined: 4/14/2010
Posts: 806
Location: Nairobi
Just thinking...is there a way Kenya Re can have GOK increase mandatory reinsurance to them from 20% to 25%? In the name of 'Build Kenya'...just as it directed all Marine import insurances to be taken by Kenyan Insurance Companies.
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sparkly
#10 Posted : Monday, August 07, 2017 11:44:25 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
winston wrote:
Just thinking...is there a way Kenya Re can have GOK increase mandatory reinsurance to them from 20% to 25%? In the name of 'Build Kenya'...just as it directed all Marine import insurances to be taken by Kenyan Insurance Companies.


Mandatory Re insurance was to end 7 years ago. GOK has been extending
http://www.businessdaily...12064-ed6mjjz/index.html
Life is short. Live passionately.
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winston
#11 Posted : Monday, August 07, 2017 2:36:40 PM
Rank: Member


Joined: 4/14/2010
Posts: 806
Location: Nairobi
sparkly wrote:
[quote=winston]Just thinking...is there a way Kenya Re can have GOK increase mandatory reinsurance to them from 20% to 25%? In the name of 'Build Kenya'...just as it directed all Marine import insurances to be taken by Kenyan Insurance Companies.


Mandatory Re insurance was to end 7 years ago. GOK has been extending
http://www.businessdaily...2064-ed6mjjz/index.html[/quote]


GOK knows without it Kenya Re as is currently structured cannot survive without the mandatory reinsurance. Also I think it does not make sense to have mandatory reinsurance to regional country owned reinsurance companies (PTA reinsurance and Africa Reinsurance) and not have the same for your own Reinsurer.

My thinking behind asking for the increase is...increased mandatory reinsurance means that the government gets to get increased earnings from Kenya Re...without putting in additional investment by way of equity or debt...simple win -win.
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obiero
#12 Posted : Monday, August 07, 2017 7:41:14 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,973
Location: nairobi
winston wrote:
sparkly wrote:
[quote=winston]Just thinking...is there a way Kenya Re can have GOK increase mandatory reinsurance to them from 20% to 25%? In the name of 'Build Kenya'...just as it directed all Marine import insurances to be taken by Kenyan Insurance Companies.


Mandatory Re insurance was to end 7 years ago. GOK has been extending
http://www.businessdaily...2064-ed6mjjz/index.html[/quote]


GOK knows without it Kenya Re as is currently structured cannot survive without the mandatory reinsurance. Also I think it does not make sense to have mandatory reinsurance to regional country owned reinsurance companies (PTA reinsurance and Africa Reinsurance) and not have the same for your own Reinsurer.

My thinking behind asking for the increase is...increased mandatory reinsurance means that the government gets to get increased earnings from Kenya Re...without putting in additional investment by way of equity or debt...simple win -win.


@winston as per your own analysis, you will notice that KNRE is not a business but largely a collection agency similar to KRA. I once invested in it but honestly speaking there are better companies right now at the NSE

KQ ABP 4.48; MTN ABP 5.20
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sparkly
#13 Posted : Monday, August 07, 2017 8:24:51 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
obiero wrote:
winston wrote:
sparkly wrote:
[quote=winston]Just thinking...is there a way Kenya Re can have GOK increase mandatory reinsurance to them from 20% to 25%? In the name of 'Build Kenya'...just as it directed all Marine import insurances to be taken by Kenyan Insurance Companies.


Mandatory Re insurance was to end 7 years ago. GOK has been extending
http://www.businessdaily...2064-ed6mjjz/index.html[/quote]


GOK knows without it Kenya Re as is currently structured cannot survive without the mandatory reinsurance. Also I think it does not make sense to have mandatory reinsurance to regional country owned reinsurance companies (PTA reinsurance and Africa Reinsurance) and not have the same for your own Reinsurer.

My thinking behind asking for the increase is...increased mandatory reinsurance means that the government gets to get increased earnings from Kenya Re...without putting in additional investment by way of equity or debt...simple win -win.


@winston as per your own analysis, you will notice that KNRE is not a business but largely a collection agency similar to KRA. I once invested in it but honestly speaking there are better companies right now at the NSE [colour=red] like KQ [/colour]

Life is short. Live passionately.
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Horton
#14 Posted : Monday, August 07, 2017 10:17:39 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
obiero wrote:
winston wrote:
sparkly wrote:
[quote=winston]Just thinking...is there a way Kenya Re can have GOK increase mandatory reinsurance to them from 20% to 25%? In the name of 'Build Kenya'...just as it directed all Marine import insurances to be taken by Kenyan Insurance Companies.


Mandatory Re insurance was to end 7 years ago. GOK has been extending
http://www.businessdaily...2064-ed6mjjz/index.html[/quote]


GOK knows without it Kenya Re as is currently structured cannot survive without the mandatory reinsurance. Also I think it does not make sense to have mandatory reinsurance to regional country owned reinsurance companies (PTA reinsurance and Africa Reinsurance) and not have the same for your own Reinsurer.

My thinking behind asking for the increase is...increased mandatory reinsurance means that the government gets to get increased earnings from Kenya Re...without putting in additional investment by way of equity or debt...simple win -win.


@winston as per your own analysis, you will notice that KNRE is not a business but largely a collection agency similar to KRA. I once invested in it but honestly speaking there are better companies right now at the NSE


Yeah I was at KNRE very briefly. Sold at a small loss as recently as May and got into simba

The thing is even with the mandatory concessions and holding a majority marketshare, they seem to be just growing ever so slightly. What i find strange is that the insurance sector is at its infancy currently and this period should have the company growing in leaps and bounds.

Alot of revaluation reserves are going into sprucing up the PAT.

I feel the management are not as agile as they should be. They feel lethargic to me, perhaps its my untrained eye.
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obiero
#15 Posted : Tuesday, August 08, 2017 7:30:10 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,973
Location: nairobi
Horton wrote:
obiero wrote:
winston wrote:
sparkly wrote:
[quote=winston]Just thinking...is there a way Kenya Re can have GOK increase mandatory reinsurance to them from 20% to 25%? In the name of 'Build Kenya'...just as it directed all Marine import insurances to be taken by Kenyan Insurance Companies.


Mandatory Re insurance was to end 7 years ago. GOK has been extending
http://www.businessdaily...2064-ed6mjjz/index.html[/quote]


GOK knows without it Kenya Re as is currently structured cannot survive without the mandatory reinsurance. Also I think it does not make sense to have mandatory reinsurance to regional country owned reinsurance companies (PTA reinsurance and Africa Reinsurance) and not have the same for your own Reinsurer.

My thinking behind asking for the increase is...increased mandatory reinsurance means that the government gets to get increased earnings from Kenya Re...without putting in additional investment by way of equity or debt...simple win -win.


@winston as per your own analysis, you will notice that KNRE is not a business but largely a collection agency similar to KRA. I once invested in it but honestly speaking there are better companies right now at the NSE


Yeah I was at KNRE very briefly. Sold at a small loss as recently as May and got into simba

The thing is even with the mandatory concessions and holding a majority marketshare, they seem to be just growing ever so slightly. What i find strange is that the insurance sector is at its infancy currently and this period should have the company growing in leaps and bounds.

Alot of revaluation reserves are going into sprucing up the PAT.

I feel the management are not as agile as they should be. They feel lethargic to me, perhaps its my untrained eye.

@Horton your eyes are OK.. That share never moves. It's good for aged investors

KQ ABP 4.48; MTN ABP 5.20
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winston
#16 Posted : Wednesday, August 09, 2017 10:48:39 AM
Rank: Member


Joined: 4/14/2010
Posts: 806
Location: Nairobi
@obiero & horton...totally agree. It could be better...but will not be anytime soon. Sad really.
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Ericsson
#17 Posted : Monday, August 14, 2017 10:11:27 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,798
Location: NAIROBI
Get ready get ready counter is headed towards 30 per share
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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obiero
#18 Posted : Monday, August 14, 2017 10:58:56 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,973
Location: nairobi
Ericsson wrote:
Get ready get ready counter is headed towards 30 per share

Optimism at its peak

KQ ABP 4.48; MTN ABP 5.20
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Metasploit
#19 Posted : Monday, August 14, 2017 11:50:48 AM
Rank: Veteran


Joined: 3/26/2012
Posts: 985
Location: Dar es salaam,Tanzania
obiero wrote:
Ericsson wrote:
Get ready get ready counter is headed towards 30 per share

Optimism at its peak


This one rallies when others are not rallying and doesnt rally when others are rallying

“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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sparkly
#20 Posted : Monday, August 14, 2017 11:54:53 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Metasploit wrote:
obiero wrote:
Ericsson wrote:
Get ready get ready counter is headed towards 30 per share

Optimism at its peak


This one rallies when others are not rallying and doesnt rally when others are rallying


Rally has not yet started but i expect to exit at 36/- one day.
Life is short. Live passionately.
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