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Britam 2018
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Ericsson
#1 Posted : Friday, August 24, 2018 10:07:29 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
Half Year Results are out
Pre tax profits up 7% to ksh. 1.366bn from 1.282bn in 2017
Assets increased by 14% to ksh.114bn from 99bn
Board of directors have resolved for an early redemption of the ksh.6bn medium term note issued in June 2014
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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rwitre
#2 Posted : Friday, August 24, 2018 10:34:24 PM
Rank: Member

Joined: 3/8/2018
Posts: 507
Location: Nairobi
Ericsson wrote:
Half Year Results are out
Pre tax profits up 7% to ksh. 1.366bn from 1.282bn in 2017
Assets increased by 14% to ksh.114bn from 99bn
Board of directors have resolved for an early redemption of the ksh.6bn medium term note issued in June 2014


Steady growth. Commendable results.Applause
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Pesa Nane
#3 Posted : Tuesday, September 04, 2018 9:39:50 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
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Ericsson
#4 Posted : Wednesday, October 03, 2018 11:58:18 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
Good move to repay the debt.This will boost profitability going forward

https://www.businessdail...88720-sx8p9e/index.html
Investors who lent Britam Sh6 billion through a bond Tuesday gave the firm approval to retire the borrowing early, saving the company hundreds of millions of shillings in interest payments.
The approval means Britam will pay back the Sh6 billion on November 12 for a facility that was to mature on July 15 next year, shortening the period for paying interest that amounted to Sh780 million annually.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#5 Posted : Sunday, October 14, 2018 11:28:00 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
https://www.businessdail...5478-xguuujz/index.html

Britam was to buy a 30% stake in Continental-Re, what happened?
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#6 Posted : Friday, December 14, 2018 11:19:48 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
https://www.businessdail...94952-n9vyu6/index.html

Financial services firm Britam has lost nearly Sh4 billion in paper wealth from its recent investment in mortgage financier HF Group
,whose share has sunk to a 15-year low after a turn of poor financial performance.

Britam has a 48.2 per cent stake in HF or 186.2 million shares, which are now valued at Sh1 billion.

In 2014 and 2015, the insurer invested a total of Sh4.7 billion to raise its stake in HF from 21 per cent to 48.8 per cent — but some share sales last year shaved off this to the current 48.2 per cent.

HF’s share price erosion at the Nairobi Securities Exchange (NSE) has forced Britam to impaire (write off) investment worth Sh2.15 billion in the lender from its books, indicating that its management has had little faith in the ability of the bank’s stock to rebound to its previous levels.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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rwitre
#7 Posted : Friday, December 14, 2018 11:31:38 AM
Rank: Member

Joined: 3/8/2018
Posts: 507
Location: Nairobi
Ericsson wrote:
https://www.businessdailyafrica.com/corporate/companies/Britam-takes-Sh4bn-hit-from-HF-share-plunge/4003102-4894952-n9vyu6/index.html

Financial services firm Britam has lost nearly Sh4 billion in paper wealth from its recent investment in mortgage financier HF Group
,whose share has sunk to a 15-year low after a turn of poor financial performance.

Britam has a 48.2 per cent stake in HF or 186.2 million shares, which are now valued at Sh1 billion.

In 2014 and 2015, the insurer invested a total of Sh4.7 billion to raise its stake in HF from 21 per cent to 48.8 per cent — but some share sales last year shaved off this to the current 48.2 per cent.

HF’s share price erosion at the Nairobi Securities Exchange (NSE) has forced Britam to impaire (write off) investment worth Sh2.15 billion in the lender from its books, indicating that its management has had little faith in the ability of the bank’s stock to rebound to its previous levels.


Wise move by Britam. Best to bite the bullet now when its books have the capacity to absorb the shock.
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Ericsson
#8 Posted : Friday, December 14, 2018 11:38:59 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
rwitre wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/corporate/companies/Britam-takes-Sh4bn-hit-from-HF-share-plunge/4003102-4894952-n9vyu6/index.html

Financial services firm Britam has lost nearly Sh4 billion in paper wealth from its recent investment in mortgage financier HF Group
,whose share has sunk to a 15-year low after a turn of poor financial performance.

Britam has a 48.2 per cent stake in HF or 186.2 million shares, which are now valued at Sh1 billion.

In 2014 and 2015, the insurer invested a total of Sh4.7 billion to raise its stake in HF from 21 per cent to 48.8 per cent — but some share sales last year shaved off this to the current 48.2 per cent.

HF’s share price erosion at the Nairobi Securities Exchange (NSE) has forced Britam to impaire (write off) investment worth Sh2.15 billion in the lender from its books, indicating that its management has had little faith in the ability of the bank’s stock to rebound to its previous levels.


Wise move by Britam. Best to bite the bullet now when its books have the capacity to absorb the shock.


What about investors and policyholders whose money was invested there
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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rwitre
#9 Posted : Friday, December 14, 2018 11:56:55 AM
Rank: Member

Joined: 3/8/2018
Posts: 507
Location: Nairobi
Ericsson wrote:
rwitre wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/corporate/companies/Britam-takes-Sh4bn-hit-from-HF-share-plunge/4003102-4894952-n9vyu6/index.html

Financial services firm Britam has lost nearly Sh4 billion in paper wealth from its recent investment in mortgage financier HF Group
,whose share has sunk to a 15-year low after a turn of poor financial performance.

Britam has a 48.2 per cent stake in HF or 186.2 million shares, which are now valued at Sh1 billion.

In 2014 and 2015, the insurer invested a total of Sh4.7 billion to raise its stake in HF from 21 per cent to 48.8 per cent — but some share sales last year shaved off this to the current 48.2 per cent.

HF’s share price erosion at the Nairobi Securities Exchange (NSE) has forced Britam to impaire (write off) investment worth Sh2.15 billion in the lender from its books, indicating that its management has had little faith in the ability of the bank’s stock to rebound to its previous levels.


Wise move by Britam. Best to bite the bullet now when its books have the capacity to absorb the shock.


What about investors and policyholders whose money was invested there


Britam investors/policyholders - They've being complaining about the HF stake since things started going downhill. As long as the rest of the operations generate profit, they'll take it in stride.

HFCK investors- Ni kukaa ngumu. Personally had to take the loss and jump ship when it was trading at 11. Those inside can only hope that management has a plan for getting out of this mess they're in. The exit of Ireri was a good start.
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Impunity
#10 Posted : Friday, December 14, 2018 11:57:19 AM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
Ericsson wrote:
rwitre wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/corporate/companies/Britam-takes-Sh4bn-hit-from-HF-share-plunge/4003102-4894952-n9vyu6/index.html

Financial services firm Britam has lost nearly Sh4 billion in paper wealth from its recent investment in mortgage financier HF Group
,whose share has sunk to a 15-year low after a turn of poor financial performance.

Britam has a 48.2 per cent stake in HF or 186.2 million shares, which are now valued at Sh1 billion.

In 2014 and 2015, the insurer invested a total of Sh4.7 billion to raise its stake in HF from 21 per cent to 48.8 per cent — but some share sales last year shaved off this to the current 48.2 per cent.

HF’s share price erosion at the Nairobi Securities Exchange (NSE) has forced Britam to impaire (write off) investment worth Sh2.15 billion in the lender from its books, indicating that its management has had little faith in the ability of the bank’s stock to rebound to its previous levels.


Wise move by Britam. Best to bite the bullet now when its books have the capacity to absorb the shock.


What about investors and policyholders whose money was invested there


They can buy more saviette and continue crying in the loos.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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