Wazua
»
Investor
»
Stocks
»
JUBILEE HOLDINGS
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
|
VituVingiSana wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:https://pbs.twimg.com/me...rmat=jpg&name=large
A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved; (i)66% shareholding of Jubilee General Insurance Limited in Kenya (ii)51% shareholding of the Jubilee Insurance Company of Burundi (iii)31% shareholding of the Jubilee Insurance Company of Uganda (iv)54.15% shareholding of Jubilee Insurance Mauritius Limited AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company. B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved. C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified. Weeh This is a fire sale. Nonsense. They got a great deal/multiple. Read the IM. Actions speak louder 🔊 than words. Time will tell who spoke nonsense . How should we measure it? I would like to come back to it. Silence from @Ericsson? It will be measured post transaction when you will see the revenue/income Jubilee will be making. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
|
Ericsson wrote:VituVingiSana wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:https://pbs.twimg.com/me...rmat=jpg&name=large
A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved; (i)66% shareholding of Jubilee General Insurance Limited in Kenya (ii)51% shareholding of the Jubilee Insurance Company of Burundi (iii)31% shareholding of the Jubilee Insurance Company of Uganda (iv)54.15% shareholding of Jubilee Insurance Mauritius Limited AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company. B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved. C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified. Weeh This is a fire sale. Nonsense. They got a great deal/multiple. Read the IM. Actions speak louder 🔊 than words. Time will tell who spoke nonsense . How should we measure it? I would like to come back to it. Silence from @Ericsson? It will be measured post transaction when you will see the revenue/income Jubilee will be making. Revenues, per IFRS, will drop since the subsidiaries will be de-consolidated according to IFRS. Do note that IFRS17 also kicks in 1 Jan 2023. The comparison should be Apple to Apples. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
|
VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:https://pbs.twimg.com/me...rmat=jpg&name=large
A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved; (i)66% shareholding of Jubilee General Insurance Limited in Kenya (ii)51% shareholding of the Jubilee Insurance Company of Burundi (iii)31% shareholding of the Jubilee Insurance Company of Uganda (iv)54.15% shareholding of Jubilee Insurance Mauritius Limited AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company. B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved. C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified. Weeh This is a fire sale. Nonsense. They got a great deal/multiple. Read the IM. Actions speak louder 🔊 than words. Time will tell who spoke nonsense . How should we measure it? I would like to come back to it. Silence from @Ericsson? It will be measured post transaction when you will see the revenue/income Jubilee will be making. Revenues, per IFRS, will drop since the subsidiaries will be de-consolidated according to IFRS. Do note that IFRS17 also kicks in 1 Jan 2023. The comparison should be Apple to Apples. They said the funds will be deployed to profitable ventures. We wait and see. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
|
https://www.businessdail...er-allianz-deal-3253014
The sh.7.7bn proceeds they will get from Allianz will be used to expand life,medical business and invest in financial instruments and securities. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
|
VituVingiSana wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:https://pbs.twimg.com/me...rmat=jpg&name=large
A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved; (i)66% shareholding of Jubilee General Insurance Limited in Kenya (ii)51% shareholding of the Jubilee Insurance Company of Burundi (iii)31% shareholding of the Jubilee Insurance Company of Uganda (iv)54.15% shareholding of Jubilee Insurance Mauritius Limited AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company. B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved. C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified. Weeh This is a fire sale. Nonsense. They got a great deal/multiple. Read the IM. Actions speak louder 🔊 than words. Time will tell who spoke nonsense . How should we measure it? I would like to come back to it. Silence from @Ericsson? https://www.businessdail...neral-insurance-3260150
Meanwhile, Britam Life maintained the lead in the long-term insurance despite its market share shrinking from 24.7 percent to 23.96 percent. ICEA Lion Life Assurance beat Jubilee to the second spot with a market share of 14.68 percent, a rise from 13.8 percent in June 2019. Jubilee Insurance had the biggest drop with it's market share dropping from 15.5% in 2019 Q2 to 13.4% in Q2 2020. ICEA LION Life Assurance had the biggest jump. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
|
Ericsson wrote:VituVingiSana wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:https://pbs.twimg.com/me...rmat=jpg&name=large
A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved; (i)66% shareholding of Jubilee General Insurance Limited in Kenya (ii)51% shareholding of the Jubilee Insurance Company of Burundi (iii)31% shareholding of the Jubilee Insurance Company of Uganda (iv)54.15% shareholding of Jubilee Insurance Mauritius Limited AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company. B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved. C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified. Weeh This is a fire sale. Nonsense. They got a great deal/multiple. Read the IM. Actions speak louder 🔊 than words. Time will tell who spoke nonsense . How should we measure it? I would like to come back to it. Silence from @Ericsson? https://www.businessdail...neral-insurance-3260150
Meanwhile, Britam Life maintained the lead in the long-term insurance despite its market share shrinking from 24.7 percent to 23.96 percent. ICEA Lion Life Assurance beat Jubilee to the second spot with a market share of 14.68 percent, a rise from 13.8 percent in June 2019. Jubilee Insurance had the biggest drop with it's market share dropping from 15.5% in 2019 Q2 to 13.4% in Q2 2020. ICEA LION Life Assurance had the biggest jump. Market share is not profits. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
|
VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:https://pbs.twimg.com/me...rmat=jpg&name=large
A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved; (i)66% shareholding of Jubilee General Insurance Limited in Kenya (ii)51% shareholding of the Jubilee Insurance Company of Burundi (iii)31% shareholding of the Jubilee Insurance Company of Uganda (iv)54.15% shareholding of Jubilee Insurance Mauritius Limited AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company. B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved. C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified. Weeh This is a fire sale. Nonsense. They got a great deal/multiple. Read the IM. Actions speak louder 🔊 than words. Time will tell who spoke nonsense . How should we measure it? I would like to come back to it. Silence from @Ericsson? https://www.businessdail...neral-insurance-3260150
Meanwhile, Britam Life maintained the lead in the long-term insurance despite its market share shrinking from 24.7 percent to 23.96 percent. ICEA Lion Life Assurance beat Jubilee to the second spot with a market share of 14.68 percent, a rise from 13.8 percent in June 2019. Jubilee Insurance had the biggest drop with it's market share dropping from 15.5% in 2019 Q2 to 13.4% in Q2 2020. ICEA LION Life Assurance had the biggest jump. Market share is not profits. We are going step by step,so that at the conclusion whatever the outcome there will be no noise like where is the evidence. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
|
FY2020 Results https://pbs.twimg.com/me...rmat=jpg&name=small
Gross Written premiums ksh.29.97bn Investment Income Ksh.11.295bn Profit before Tax Ksh.5.076bn Profit after tax Ksh.4.087bn Jubilee holdings has classified sh 19.3 billion equivalent to 13 .2 percent of its business for sale. This can be attributable to the transaction to sell most portions of its general insurance business. Ksh.13.5 billion as corresponding liability to asset held for sale. The Net asset is therefore Shs 5.8 billion. Jubilee Holdings will receive sh 7.75 billion as proceeds from the transaction giving it a net gain of shs 1.95 billion. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
|
https://www.businessdail...o-close-in-june-3367484
Transaction with Allianz to be concluded in June Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
|
Ericsson wrote:https://www.businessdailyafrica.com/bd/corporate/companies/jubilee-stakes-deal-with-allianz-to-close-in-june-3367484
Transaction with Allianz to be concluded in June Allianz completes 66% acquisition of Jubilee General Insurance Kenya. The new entity is now known as Allianz-Jubilee https://www.businessdail...neral-insurance-3388014
The completion of acquisitions of Jubilee General Insurance in Tanzania,Uganda,Burundi and Mauritius to follow. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Wazua
»
Investor
»
Stocks
»
JUBILEE HOLDINGS
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|