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Jubilee Holdings FY18
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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  Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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At a glance  Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Final Div Kshs 8.00 Payable 25 July 19 Closure 25 June 19 Pesa Nane plans to be shilingi when he grows up.
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Pesa Nane wrote:At a glance Quality. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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JHL’s overall GWP increased to KShs 34.8 billion (2017 – KShs 33.8 billion), whilst pre-tax profit increased 4.8% to KShs 5.41 billion (2017 – KShs 5.16 billion), supported by a strong contribution from insurance results at KShs 2.9 billion (2017 – KShs 2.7 billion). The Group’s total assets increased by 9% to KShs 114 billion from KShs 105 billion and total shareholders’ equity and reserves increased 11% from KShs 23.6 billion to KShs 26.1 billion JHL’s long term business posted a growth of 2% to KShs 14 Billion, which included Individual Life growth of 19% as the Group continues to implement the strategy to increase insurance penetration, particularly in Uganda and Tanzania Jubilee Holdings Limited maintained its regional market leadership in medical business and posted a growth of 4% from KShs 9.5 billion to KShs 9.9 billion, with underwriting profit of KShs 753 million (2017: KShs 878 million JHL’s underwriting profits grew by 14% to KShs 609 million from KShs 534 million with strong contributions from the Uganda, Tanzania and Burundi operations. During the year, the Boards of JHL and Jubilee Insurance Kenya approved the split of the Kenya subsidiary into three separate companies specializing in Medical, General and Life businesses respectively Jubilee Holdings Board has declared a final dividend of Ksh 8.00 per share for a combined interim and final dividend of Ksh 9.00 per share. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Ericsson wrote:JHL’s overall GWP increased to KShs 34.8 billion (2017 – KShs 33.8 billion), whilst pre-tax profit increased 4.8% to KShs 5.41 billion (2017 – KShs 5.16 billion), supported by a strong contribution from insurance results at KShs 2.9 billion (2017 – KShs 2.7 billion).
The Group’s total assets increased by 9% to KShs 114 billion from KShs 105 billion and total shareholders’ equity and reserves increased 11% from KShs 23.6 billion to KShs 26.1 billion
JHL’s long term business posted a growth of 2% to KShs 14 Billion, which included Individual Life growth of 19% as the Group continues to implement the strategy to increase insurance penetration, particularly in Uganda and Tanzania
Jubilee Holdings Limited maintained its regional market leadership in medical business and posted a growth of 4% from KShs 9.5 billion to KShs 9.9 billion, with underwriting profit of KShs 753 million (2017: KShs 878 million
JHL’s underwriting profits grew by 14% to KShs 609 million from KShs 534 million with strong contributions from the Uganda, Tanzania and Burundi operations.
During the year, the Boards of JHL and Jubilee Insurance Kenya approved the split of the Kenya subsidiary into three separate companies specializing in Medical, General and Life businesses respectively
Jubilee Holdings Board has declared a final dividend of Ksh 8.00 per share for a combined interim and final dividend of Ksh 9.00 per share.
@Ericsson, your forecast on reporting dates are correct and precise. This time around JHL did not give 1:10 bonus. Final dividend of 8.00 Bob was expected . Next and final earning report for blue chips within H1 2019 is safaricom which you earlier reported is for Fri 3rd May. The trivial return is 1.20 Bob dividend minimum. EABL FY19 ending June is within August 2019 to fully complete the cycle. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Good results given how brutal 2018 was....I was expecting a drop in profits due to the steep drop in NMG share price...
My few concerns
1. Double digit drop in total income is not a good sign although this could be due to steep drop in NMG share price in 2018...full provisions for ARM? KQ?..TPS Serena didn't perform that well either...is competition catching up? Is it starting to affect top line growth...
2. Steep drop in claims...improved underwriting or management just trying to massage results? Let's see going forward...
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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the deal wrote:Good results given how brutal 2018 was....I was expecting a drop in profits due to the steep drop in NMG share price...
My few concerns
1. Double digit drop in total income is not a good sign although this could be due to steep drop in NMG share price in 2018...full provisions for ARM? KQ?..TPS Serena didn't perform that well either...is competition catching up? Is it starting to affect top line growth...
2. Steep drop in claims...improved underwriting or management just trying to massage results? Let's see going forward...
Jubilee Insurance posts flat profit on drop in premiumsJubilee Holdings has failed to grow its profit for the first time in 12 years, slowed by a decline in earned premiums as expenses shot up in the financial year ended December 2018. Total income dropped by 10.4 percent to Sh28 billion driven by 9.8 percent decline in gross earned premiums to Sh26.7 billion. However, operating profits rose by 4.8 percent to Sh5.41 billion, supported by a strong contribution from insurance results at Sh2.9 billion against Sh2.7 billion the previous year. https://www.businessdail...93326-hr28tkz/index.htmlWealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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Ericsson wrote:JHL’s overall GWP increased to KShs 34.8 billion (2017 – KShs 33.8 billion), whilst pre-tax profit increased 4.8% to KShs 5.41 billion (2017 – KShs 5.16 billion), supported by a strong contribution from insurance results at KShs 2.9 billion (2017 – KShs 2.7 billion).
The Group’s total assets increased by 9% to KShs 114 billion from KShs 105 billion and total shareholders’ equity and reserves increased 11% from KShs 23.6 billion to KShs 26.1 billion
JHL’s long term business posted a growth of 2% to KShs 14 Billion, which included Individual Life growth of 19% as the Group continues to implement the strategy to increase insurance penetration, particularly in Uganda and Tanzania
Jubilee Holdings Limited maintained its regional market leadership in medical business and posted a growth of 4% from KShs 9.5 billion to KShs 9.9 billion, with underwriting profit of KShs 753 million (2017: KShs 878 million
JHL’s underwriting profits grew by 14% to KShs 609 million from KShs 534 million with strong contributions from the Uganda, Tanzania and Burundi operations.
During the year, the Boards of JHL and Jubilee Insurance Kenya approved the split of the Kenya subsidiary into three separate companies specializing in Medical, General and Life businesses respectively
Jubilee Holdings Board has declared a final dividend of Ksh 8.00 per share for a combined interim and final dividend of Ksh 9.00 per share.
Good management pays dividend whether there is growth in profits or not. Towards the goal of financial freedom
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Ebenyo wrote:Ericsson wrote:JHL’s overall GWP increased to KShs 34.8 billion (2017 – KShs 33.8 billion), whilst pre-tax profit increased 4.8% to KShs 5.41 billion (2017 – KShs 5.16 billion), supported by a strong contribution from insurance results at KShs 2.9 billion (2017 – KShs 2.7 billion).
The Group’s total assets increased by 9% to KShs 114 billion from KShs 105 billion and total shareholders’ equity and reserves increased 11% from KShs 23.6 billion to KShs 26.1 billion
JHL’s long term business posted a growth of 2% to KShs 14 Billion, which included Individual Life growth of 19% as the Group continues to implement the strategy to increase insurance penetration, particularly in Uganda and Tanzania
Jubilee Holdings Limited maintained its regional market leadership in medical business and posted a growth of 4% from KShs 9.5 billion to KShs 9.9 billion, with underwriting profit of KShs 753 million (2017: KShs 878 million
JHL’s underwriting profits grew by 14% to KShs 609 million from KShs 534 million with strong contributions from the Uganda, Tanzania and Burundi operations.
During the year, the Boards of JHL and Jubilee Insurance Kenya approved the split of the Kenya subsidiary into three separate companies specializing in Medical, General and Life businesses respectively
Jubilee Holdings Board has declared a final dividend of Ksh 8.00 per share for a combined interim and final dividend of Ksh 9.00 per share.
Good management pays dividend whether there is growth in profits or not. The dividend is to boost share price.If you look at the total amount of money been paid as dividends as compared to the profits,its peanuts. Meanwhile this year project another decline in earned premiums Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Link to the financial results; https://jubileeinsurance...ncials-2018-Outlined.pdfWealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Ericsson wrote:Ebenyo wrote:Ericsson wrote:JHL’s overall GWP increased to KShs 34.8 billion (2017 – KShs 33.8 billion), whilst pre-tax profit increased 4.8% to KShs 5.41 billion (2017 – KShs 5.16 billion), supported by a strong contribution from insurance results at KShs 2.9 billion (2017 – KShs 2.7 billion).
The Group’s total assets increased by 9% to KShs 114 billion from KShs 105 billion and total shareholders’ equity and reserves increased 11% from KShs 23.6 billion to KShs 26.1 billion
JHL’s long term business posted a growth of 2% to KShs 14 Billion, which included Individual Life growth of 19% as the Group continues to implement the strategy to increase insurance penetration, particularly in Uganda and Tanzania
Jubilee Holdings Limited maintained its regional market leadership in medical business and posted a growth of 4% from KShs 9.5 billion to KShs 9.9 billion, with underwriting profit of KShs 753 million (2017: KShs 878 million
JHL’s underwriting profits grew by 14% to KShs 609 million from KShs 534 million with strong contributions from the Uganda, Tanzania and Burundi operations.
During the year, the Boards of JHL and Jubilee Insurance Kenya approved the split of the Kenya subsidiary into three separate companies specializing in Medical, General and Life businesses respectively
Jubilee Holdings Board has declared a final dividend of Ksh 8.00 per share for a combined interim and final dividend of Ksh 9.00 per share.
Good management pays dividend whether there is growth in profits or not. The dividend is to boost share price.If you look at the total amount of money been paid as dividends as compared to the profits,its peanuts. Meanwhile this year project another decline in earned premiums Is there anything new in Jubilee sticking to a low Dividend Payout Ratio? When was the last time Jubilee had a Rights Issue? “[A great insurance manager] follows the policy of sticking with business that he understands and wants, without giving consideration to the impact on volume.” Berkshire Hathaway 1978 letter page 6.
“We hear about a great many insurance managers talk about being willing to reduce volume in order to underwrite profitably, but we find that very few actually do so.” Berkshire Hathaway 1979 letter page 5.
While it is common to talk about writing business only with strict underwriting criteria, it is hard to avoid the siren song of growth, especially for publicly traded carriers that have to worry about investors who only care about next quarter. Though it is challenging, a good underwriter must practice discipline in choosing the risks that it insures. Profitable companies will understand that this may mean growing more slowly or less than the year before but will assure profitability.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:Ebenyo wrote:Ericsson wrote:JHL’s overall GWP increased to KShs 34.8 billion (2017 – KShs 33.8 billion), whilst pre-tax profit increased 4.8% to KShs 5.41 billion (2017 – KShs 5.16 billion), supported by a strong contribution from insurance results at KShs 2.9 billion (2017 – KShs 2.7 billion).
The Group’s total assets increased by 9% to KShs 114 billion from KShs 105 billion and total shareholders’ equity and reserves increased 11% from KShs 23.6 billion to KShs 26.1 billion
JHL’s long term business posted a growth of 2% to KShs 14 Billion, which included Individual Life growth of 19% as the Group continues to implement the strategy to increase insurance penetration, particularly in Uganda and Tanzania
Jubilee Holdings Limited maintained its regional market leadership in medical business and posted a growth of 4% from KShs 9.5 billion to KShs 9.9 billion, with underwriting profit of KShs 753 million (2017: KShs 878 million
JHL’s underwriting profits grew by 14% to KShs 609 million from KShs 534 million with strong contributions from the Uganda, Tanzania and Burundi operations.
During the year, the Boards of JHL and Jubilee Insurance Kenya approved the split of the Kenya subsidiary into three separate companies specializing in Medical, General and Life businesses respectively
Jubilee Holdings Board has declared a final dividend of Ksh 8.00 per share for a combined interim and final dividend of Ksh 9.00 per share.
Good management pays dividend whether there is growth in profits or not. The dividend is to boost share price.If you look at the total amount of money been paid as dividends as compared to the profits,its peanuts. Meanwhile this year project another decline in earned premiums Is there anything new in Jubilee sticking to a low Dividend Payout Ratio? When was the last time Jubilee had a Rights Issue? “[A great insurance manager] follows the policy of sticking with business that he understands and wants, without giving consideration to the impact on volume.” Berkshire Hathaway 1978 letter page 6.
“We hear about a great many insurance managers talk about being willing to reduce volume in order to underwrite profitably, but we find that very few actually do so.” Berkshire Hathaway 1979 letter page 5.
While it is common to talk about writing business only with strict underwriting criteria, it is hard to avoid the siren song of growth, especially for publicly traded carriers that have to worry about investors who only care about next quarter. Though it is challenging, a good underwriter must practice discipline in choosing the risks that it insures. Profitable companies will understand that this may mean growing more slowly or less than the year before but will assure profitability.
Which listed insurance has ever done a rights issue in the NSE? Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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A lesson for investors in Insurance Firms from The Oracle of Omaha: “[A great insurance manager] follows the policy of sticking with business that he understands and wants, without giving consideration to the impact on volume.” Berkshire Hathaway 1978 letter page 6. “We hear about a great many insurance managers talk about being willing to reduce volume in order to underwrite profitably, but we find that very few actually do so.” Berkshire Hathaway 1979 letter page 5. While it is common to talk about writing business only with strict underwriting criteria, it is hard to avoid the siren song of growth, especially for publicly traded carriers that have to worry about investors who only care about next quarter. Though it is challenging, a good underwriter must practice discipline in choosing the risks that it insures. Profitable companies will understand that this may mean growing more slowly or less than the year before but will assure profitability. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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