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CIC Insurance FY 2017
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Ericsson
#1 Posted : Thursday, March 15, 2018 11:13:57 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
Profit before tax of sh.519.2mn versus 114.4mn in 2016
Net earned premiums at ksh.12.1bn
First and final dividend of sh.0.12
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Chaka
#2 Posted : Thursday, March 15, 2018 1:51:55 PM
Rank: Elder


Joined: 2/16/2007
Posts: 2,114
Last year dividend was 0.105 and before that 0.10..
Ericsson wrote:
Profit before tax of sh.519.2mn versus 114.4mn in 2016
Net earned premiums at ksh.12.1bn
First and final dividend of sh.0.12
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mlennyma
#3 Posted : Thursday, March 15, 2018 2:57:59 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,183
Location: nairobi
Chaka wrote:
Last year dividend was 0.105 and before that 0.10..
Ericsson wrote:
Profit before tax of sh.519.2mn versus 114.4mn in 2016
Net earned premiums at ksh.12.1bn
First and final dividend of sh.0.12


so why no rally?
"Don't let the fear of losing be greater than the excitement of winning."
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Ericsson
#4 Posted : Thursday, March 15, 2018 5:25:16 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
mlennyma wrote:
Chaka wrote:
Last year dividend was 0.105 and before that 0.10..
Ericsson wrote:
Profit before tax of sh.519.2mn versus 114.4mn in 2016
Net earned premiums at ksh.12.1bn
First and final dividend of sh.0.12


so why no rally?


If you didn't board while at sh.4 umechelewa.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Realtreaty
#5 Posted : Thursday, March 15, 2018 9:21:06 PM
Rank: Elder


Joined: 8/16/2011
Posts: 2,297
Ericsson wrote:
Profit before tax of sh.519.2mn versus 114.4mn in 2016
Net earned premiums at ksh.12.1bn
First and final dividend of sh.0.12

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
For every 100 shares you get 12 Kesd'oh! d'oh! d'oh! d'oh!
Hii ni kama Mumias...inataka wale wanamangunia ya shares
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Ebenyo
#6 Posted : Friday, March 16, 2018 7:54:57 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
Chaka wrote:
Last year dividend was 0.105 and before that 0.10..
Ericsson wrote:
Profit before tax of sh.519.2mn versus 114.4mn in 2016
Net earned premiums at ksh.12.1bn
First and final dividend of sh.0.12




wale wanahama KENRE waingie CIC.
Towards the goal of financial freedom
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Ericsson
#7 Posted : Friday, March 16, 2018 10:06:37 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
Dividend yield is at 2.18%.
This share makes sense to those who bought at sh.4 and below.
The dividend payout ratio though is good at 65% of after tax profits
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Horton
#8 Posted : Friday, March 16, 2018 10:17:35 AM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
Ericsson wrote:
Dividend yield is at 2.18%.
This share makes sense to those who bought at sh.4 and below.
The dividend payout ratio though is good at 65% of after tax profits



Good call Ericsson. What else are you holding besides CIC & KCB?
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Ericsson
#9 Posted : Friday, March 16, 2018 10:28:56 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
Horton wrote:
Ericsson wrote:
Dividend yield is at 2.18%.
This share makes sense to those who bought at sh.4 and below.
The dividend payout ratio though is good at 65% of after tax profits



Good call Ericsson. What else are you holding besides CIC & KCB?

Safaricom
Coop
Kengen
Kenya Re
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#10 Posted : Tuesday, March 27, 2018 4:08:10 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
https://www.businessdail...9726-aqr76tz/index.html

CIC Insurance stock is unappealing to investors due to high exposure to claims and a low return on equity despite having just reported a 154-per cent jump in 2017 full-year profit, researchers at Genghis Capital say.

The company has recommended the payment of a dividend and its net premiums as well as investment income rose, but analysts expect its price to come down by almost half.

In the five days to last Thursday, just after the release of its results, the price has fallen 2.7 per cent to stand at Sh5.45.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#11 Posted : Thursday, April 19, 2018 11:59:06 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
We are coming back to 3-3.50 by mid-may
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#12 Posted : Sunday, April 22, 2018 6:57:29 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
General Accident with assets of 17bn makes a profit of sh.1.1bn
Wealth is built through a relatively simple equation
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Ericsson
#13 Posted : Wednesday, May 02, 2018 4:18:54 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
CIC Africa (Uganda) Limited reported a loss of KShs 67 million for
the year ended 31 December 2017, with accumulated losses of
KShs 336 million. In addition, the company was in a net liability
position of KShs 75 million. Therefore the company is technically
insolvent.

CIC Africa Co-operatives Insurance Limited based in Malawi reported a loss of KShs.74 million for the year ended 31 December 2017. In addition, the company was in a net liability position of KShs 13 million. Therefore the company is technically insolvent.

As at 31 December 2017, the Group held in its books of account a Chase Bank Limited corporate bond amounting to KShs 155 million which is 23 % of the total corporate bonds portfolio. Chase Bank Limited was placed under receivership for a maximum period of 12 months effective April 7, 2016. Trading of the corporate bond at the Nairobi Securities Exchange Limited was suspended on 8 April 2016 following a directive from the Capital Markets Authority. This suspension was yet to be lifted as at 31 December 2017.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#14 Posted : Thursday, May 03, 2018 9:50:18 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
Highlights for 2017;
--Insurance premium growth slowed down during the period to December 2017 to 6.6% compared to an annual growth of 12.3% in a similar period of 2016.
--The non-life segment contributed 60% while long-term insurance business contributed 40% of the total premium written industry wide in 2017.
--Net claims and Operating expenses grew by 21% and 8% respectively.
--Overall growth was by 21% in 2017 despite the tough political environment.
--CIC General Business grew by 21% with the biggest payout been to Crop Insurance and Gikomba Fire
--The life sector grew faster by 13.6% compared to an 2.5% growth in non-life segment.
--CIC Life Assurance grew by 9% with the expenses stagnant at 2% YoY.
--Funds under management by CIC Asset Management at 32.5B

Strategic Initiatives 2018:
--Grow pension and individual life business.
--Innovative products and services that meet customer expectations.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Metch
#15 Posted : Thursday, May 03, 2018 9:54:31 AM
Rank: Member


Joined: 12/22/2015
Posts: 224
Location: Mombasa, Kenya
Ericsson wrote:
Highlights for 2017;
--Insurance premium growth slowed down during the period to December 2017 to 6.6% compared to an annual growth of 12.3% in a similar period of 2016.
--The non-life segment contributed 60% while long-term insurance business contributed 40% of the total premium written industry wide in 2017.
--Net claims and Operating expenses grew by 21% and 8% respectively.
--Overall growth was by 21% in 2017 despite the tough political environment.
--CIC General Business grew by 21% with the biggest payout been to Crop Insurance and Gikomba Fire
--The life sector grew faster by 13.6% compared to an 2.5% growth in non-life segment.
--CIC Life Assurance grew by 9% with the expenses stagnant at 2% YoY.
--Funds under management by CIC Asset Management at 32.5B

Strategic Initiatives 2018:
--Grow pension and individual life business.
--Innovative products and services that meet customer expectations.


What's the 'strategic initiative' for the technically insolvent subsidiaries?
Start!
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Ericsson
#16 Posted : Thursday, May 03, 2018 9:56:24 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
Metch wrote:
Ericsson wrote:
Highlights for 2017;
--Insurance premium growth slowed down during the period to December 2017 to 6.6% compared to an annual growth of 12.3% in a similar period of 2016.
--The non-life segment contributed 60% while long-term insurance business contributed 40% of the total premium written industry wide in 2017.
--Net claims and Operating expenses grew by 21% and 8% respectively.
--Overall growth was by 21% in 2017 despite the tough political environment.
--CIC General Business grew by 21% with the biggest payout been to Crop Insurance and Gikomba Fire
--The life sector grew faster by 13.6% compared to an 2.5% growth in non-life segment.
--CIC Life Assurance grew by 9% with the expenses stagnant at 2% YoY.
--Funds under management by CIC Asset Management at 32.5B

Strategic Initiatives 2018:
--Grow pension and individual life business.
--Innovative products and services that meet customer expectations.


What's the 'strategic initiative' for the technically insolvent subsidiaries?

Waiting to hear from them
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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heri
#17 Posted : Thursday, May 03, 2018 10:10:57 AM
Rank: Member


Joined: 9/14/2011
Posts: 834
Location: nairobi
Ericsson wrote:
CIC Africa (Uganda) Limited reported a loss of KShs 67 million for
the year ended 31 December 2017, with accumulated losses of
KShs 336 million. In addition, the company was in a net liability
position of KShs 75 million. Therefore the company is technically
insolvent.

CIC Africa Co-operatives Insurance Limited based in Malawi reported a loss of KShs.74 million for the year ended 31 December 2017. In addition, the company was in a net liability position of KShs 13 million. Therefore the company is technically insolvent.

As at 31 December 2017, the Group held in its books of account a Chase Bank Limited corporate bond amounting to KShs 155 million which is 23 % of the total corporate bonds portfolio. Chase Bank Limited was placed under receivership for a maximum period of 12 months effective April 7, 2016. Trading of the corporate bond at the Nairobi Securities Exchange Limited was suspended on 8 April 2016 following a directive from the Capital Markets Authority. This suspension was yet to be lifted as at 31 December 2017.



OMG. i am already 20% down having bought at 5.70 .
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mlennyma
#18 Posted : Thursday, May 03, 2018 12:24:41 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,183
Location: nairobi
heri wrote:
Ericsson wrote:
CIC Africa (Uganda) Limited reported a loss of KShs 67 million for
the year ended 31 December 2017, with accumulated losses of
KShs 336 million. In addition, the company was in a net liability
position of KShs 75 million. Therefore the company is technically
insolvent.

CIC Africa Co-operatives Insurance Limited based in Malawi reported a loss of KShs.74 million for the year ended 31 December 2017. In addition, the company was in a net liability position of KShs 13 million. Therefore the company is technically insolvent.

As at 31 December 2017, the Group held in its books of account a Chase Bank Limited corporate bond amounting to KShs 155 million which is 23 % of the total corporate bonds portfolio. Chase Bank Limited was placed under receivership for a maximum period of 12 months effective April 7, 2016. Trading of the corporate bond at the Nairobi Securities Exchange Limited was suspended on 8 April 2016 following a directive from the Capital Markets Authority. This suspension was yet to be lifted as at 31 December 2017.



OMG. i am already 20% down having bought at 5.70 .


was the corporate bond used to start insolvent businesses?
"Don't let the fear of losing be greater than the excitement of winning."
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Ericsson
#19 Posted : Thursday, May 03, 2018 12:26:51 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
mlennyma wrote:
heri wrote:
Ericsson wrote:
CIC Africa (Uganda) Limited reported a loss of KShs 67 million for
the year ended 31 December 2017, with accumulated losses of
KShs 336 million. In addition, the company was in a net liability
position of KShs 75 million. Therefore the company is technically
insolvent.

CIC Africa Co-operatives Insurance Limited based in Malawi reported a loss of KShs.74 million for the year ended 31 December 2017. In addition, the company was in a net liability position of KShs 13 million. Therefore the company is technically insolvent.

As at 31 December 2017, the Group held in its books of account a Chase Bank Limited corporate bond amounting to KShs 155 million which is 23 % of the total corporate bonds portfolio. Chase Bank Limited was placed under receivership for a maximum period of 12 months effective April 7, 2016. Trading of the corporate bond at the Nairobi Securities Exchange Limited was suspended on 8 April 2016 following a directive from the Capital Markets Authority. This suspension was yet to be lifted as at 31 December 2017.



OMG. i am already 20% down having bought at 5.70 .


was the corporate bond used to start insolvent businesses?


Seems so and maturity/full repayment is next year.
So they need to keep aside the money
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#20 Posted : Thursday, May 03, 2018 12:28:24 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
Metch wrote:
Ericsson wrote:
Highlights for 2017;
--Insurance premium growth slowed down during the period to December 2017 to 6.6% compared to an annual growth of 12.3% in a similar period of 2016.
--The non-life segment contributed 60% while long-term insurance business contributed 40% of the total premium written industry wide in 2017.
--Net claims and Operating expenses grew by 21% and 8% respectively.
--Overall growth was by 21% in 2017 despite the tough political environment.
--CIC General Business grew by 21% with the biggest payout been to Crop Insurance and Gikomba Fire
--The life sector grew faster by 13.6% compared to an 2.5% growth in non-life segment.
--CIC Life Assurance grew by 9% with the expenses stagnant at 2% YoY.
--Funds under management by CIC Asset Management at 32.5B

Strategic Initiatives 2018:
--Grow pension and individual life business.
--Innovative products and services that meet customer expectations.


What's the 'strategic initiative' for the technically insolvent subsidiaries?


They say Uganda is expected to break even this year
Wealth is built through a relatively simple equation
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