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KenyaRe FY19 - FY23 (Both Inclusive)
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AndyC
#581 Posted : Friday, January 22, 2021 2:45:52 PM
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Joined: 4/21/2015
Posts: 151
"Swiss Re's net loss forecast to hit $389mn in 2020, says Berenberg - Reinsurance News" https://www.reinsurancen...-in-2020-says-berenberg/
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Ericsson
#582 Posted : Friday, January 22, 2021 4:54:35 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Q3 Quarterly Reports 2020 - 2021

In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.

The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit.
Wealth is built through a relatively simple equation
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VituVingiSana
#583 Posted : Friday, January 22, 2021 9:19:36 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Ericsson wrote:
Q3 Quarterly Reports 2020 - 2021

In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.

The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit.
Looking good! Though this is "operating profit" so there may be other expenses or losses not included.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#584 Posted : Saturday, January 23, 2021 3:15:09 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Q3 Quarterly Reports 2020 - 2021

In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.

The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit.
Looking good! Though this is "operating profit" so there may be other expenses or losses not included.


The long term business had a profit of sh.731.7mn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#585 Posted : Sunday, January 24, 2021 3:01:43 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
VituVingiSana wrote:
Ericsson wrote:
Q3 Quarterly Reports 2020 - 2021

In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.

The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit.
Looking good! Though this is "operating profit" so there may be other expenses or losses not included.


That means kenre will post an improved profit FY 2020
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Ericsson
#586 Posted : Monday, January 25, 2021 1:39:57 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Ebenyo wrote:
VituVingiSana wrote:
Ericsson wrote:
Q3 Quarterly Reports 2020 - 2021

In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.

The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit.
Looking good! Though this is "operating profit" so there may be other expenses or losses not included.


That means kenre will post an improved profit FY 2020

They are also on a continental expansion mode.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#587 Posted : Sunday, January 31, 2021 11:11:45 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion



A special dividend will be great

From past experiences I don't see this coming.

Kenya Re needs to rejig their portfolio.
They should reduce their holding in government securities.Going forward yields on them are going down which will reduce the interest income.
Their portfolio in quoted securities is very small at ksh.2bn yet assets is 53bn.
In my opinion a good level of holdings in quoted securities should be about ksh.6bn
From 2bn to 6bn (with total assets of 53bn) hardly moves the needle. 10bn minimum (20%) in equities (at low prices) in good firms and reduce the % exposure to real estate.

Trying to sell the Kisumu building is a good start.


In the current economic environment,they are finding it difficult to get a buyer.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#588 Posted : Sunday, January 31, 2021 9:22:10 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion



A special dividend will be great

From past experiences I don't see this coming.

Kenya Re needs to rejig their portfolio.
They should reduce their holding in government securities.Going forward yields on them are going down which will reduce the interest income.
Their portfolio in quoted securities is very small at ksh.2bn yet assets is 53bn.
In my opinion a good level of holdings in quoted securities should be about ksh.6bn
From 2bn to 6bn (with total assets of 53bn) hardly moves the needle. 10bn minimum (20%) in equities (at low prices) in good firms and reduce the % exposure to real estate.

Trying to sell the Kisumu building is a good start.

In the current economic environment,they are finding it difficult to get a buyer.
Happens. No surprise there.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ebenyo
#589 Posted : Monday, February 01, 2021 11:29:40 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion



A special dividend will be great

From past experiences I don't see this coming.

Kenya Re needs to rejig their portfolio.
They should reduce their holding in government securities.Going forward yields on them are going down which will reduce the interest income.
Their portfolio in quoted securities is very small at ksh.2bn yet assets is 53bn.
In my opinion a good level of holdings in quoted securities should be about ksh.6bn
From 2bn to 6bn (with total assets of 53bn) hardly moves the needle. 10bn minimum (20%) in equities (at low prices) in good firms and reduce the % exposure to real estate.

Trying to sell the Kisumu building is a good start.

In the current economic environment,they are finding it difficult to get a buyer.
Happens. No surprise there.



Let them sell it and give the special dividend
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VituVingiSana
#590 Posted : Monday, February 01, 2021 12:23:54 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Ebenyo wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion



A special dividend will be great

From past experiences I don't see this coming.

Kenya Re needs to rejig their portfolio.
They should reduce their holding in government securities.Going forward yields on them are going down which will reduce the interest income.
Their portfolio in quoted securities is very small at ksh.2bn yet assets is 53bn.
In my opinion a good level of holdings in quoted securities should be about ksh.6bn
From 2bn to 6bn (with total assets of 53bn) hardly moves the needle. 10bn minimum (20%) in equities (at low prices) in good firms and reduce the % exposure to real estate.

Trying to sell the Kisumu building is a good start.

In the current economic environment,they are finding it difficult to get a buyer.
Happens. No surprise there.

Let them sell it and give the special dividend
#TanoTena manenos. I doubt it will be sold at 1bn in 2021.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#591 Posted : Monday, February 01, 2021 12:44:17 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
Ebenyo wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion



A special dividend will be great

From past experiences I don't see this coming.

Kenya Re needs to rejig their portfolio.
They should reduce their holding in government securities.Going forward yields on them are going down which will reduce the interest income.
Their portfolio in quoted securities is very small at ksh.2bn yet assets is 53bn.
In my opinion a good level of holdings in quoted securities should be about ksh.6bn
From 2bn to 6bn (with total assets of 53bn) hardly moves the needle. 10bn minimum (20%) in equities (at low prices) in good firms and reduce the % exposure to real estate.

Trying to sell the Kisumu building is a good start.

In the current economic environment,they are finding it difficult to get a buyer.
Happens. No surprise there.

Let them sell it and give the special dividend
#TanoTena manenos. I doubt it will be sold at 1bn in 2021.


In that case they have two options;
-Lower the price
-Abandon the plan of selling it for now,hold it and continue earning rental income as they wait for economic conditions to improve
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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shiznit
#592 Posted : Wednesday, February 10, 2021 5:17:44 PM
Rank: New-farer


Joined: 5/21/2013
Posts: 72
Location: KENYA
“The market can remain irrational longer than you can remain solvent.” - John Maynard Keynes
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VituVingiSana
#593 Posted : Wednesday, February 10, 2021 10:20:07 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
shiznit wrote:

0.5% is hardly building a stake.
And it's equivalent to just 1mn Saf in value.

Even if they bought 140mn shares = 5%

*Disclosure: I am not a seller BUT I would like to see more shares bought out by those who are in it for the long-term and will push the mgmt, board and GoK to do better.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ebenyo
#594 Posted : Wednesday, February 10, 2021 10:32:30 PM
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Joined: 4/4/2016
Posts: 1,997
Location: Kitale
shiznit wrote:



There could be some news forthcoming
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Ericsson
#595 Posted : Thursday, February 11, 2021 1:27:55 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
shiznit wrote:

0.5% is hardly building a stake.
And it's equivalent to just 1mn Saf in value.

Even if they bought 140mn shares = 5%

*Disclosure: I am not a seller BUT I would like to see more shares bought out by those who are in it for the long-term and will push the mgmt, board and GoK to do better.


This is a trade for last week.
140mn shares is alot,getting that number would mean buying over a span of time
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#596 Posted : Thursday, February 11, 2021 10:22:42 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
shiznit wrote:

0.5% is hardly building a stake.
And it's equivalent to just 1mn Saf in value.

Even if they bought 140mn shares = 5%

*Disclosure: I am not a seller BUT I would like to see more shares bought out by those who are in it for the long-term and will push the mgmt, board and GoK to do better.


So that they behave like Safaricom Applause
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#597 Posted : Tuesday, February 16, 2021 2:45:08 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Dividend forecast for FY results to be announced next month is 15-20 cents per share
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#598 Posted : Friday, February 19, 2021 10:00:32 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
Ericsson wrote:
Dividend forecast for FY results to be announced next month is 15-20 cents per share



That looks more realistic
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Ericsson
#599 Posted : Sunday, February 21, 2021 9:46:10 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Kenya Re low share price is due to its low Return on Investment.
The excess cash is invested in low yielding assets such as treasury bills.
It's better paying out the excess cash as dividends.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#600 Posted : Monday, February 22, 2021 11:12:30 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion
Applause Applause Applause Sell and pay a dividend Applause Are there buyers at that price in this market?


The rich Indians from Kisumu or government though the process may take time to conclude.

Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill
There are many rich Luos who can buy it. Applause

Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. Shame on you

The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback.



https://www.businessdail...insurance-plaza-3299332

@vvs.
There you have it;
""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details."

They will not use the proceeds to payout a dividend and highly unlikely stocks.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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