Naona watu wakila mbuzi apa!

I expected more so I'm kind of disappointed, i had an estimate of between 20-30% increase in Profit After Tax for the year ending 2010. The surge in net premiums was outdone by the increase in net expenses and net claims. Of this net expenses the company made a provision for doubtful debts of about Ksh 476 Million which if they manage to collect the debts might reflect positively on the companies profit-loss statement in 2011. The Company purchased Ksh 479 Million worth of quoted shares, remember they're among the top 10 shareholders in KCB hence i think they must have fully exercised their rights. At trailing PE of 3.9 it remains cheap but the provision of debts amounting to Ksh 476 Million is a big concern which i think investors should put the management on at the next AGM, also costs have been spiraling out of control year on and year on

More here http://contrarianinvesti...10-profit-up-14-pct.html

This js goes to show that kenya re does not care for its shareholders. How can they not explicitly state what the DPS will be, book closure, pay date???

I don't think so. First they should have done their due diligence. It's obvious with the sensitive matters around forest land that you check with forestry if you're buying land next to a forest just the same way you'd check when buying land next to a road reserve.

Anyway that said, they made more profits this year so I don't get why they cannot match last year's dividend pay out.

I'm pretty sure this was because of a VERY uncertain future because it is almost unheard of for a company to reduce its dividend amidst rising profits...

All in all this is a rubbish company...

NB: All the revenues a re insurer gets is dependent on the revenues of the insurers so buy jubilee or pan africa and sell kenya re

I guess those who were hyping this share have learnt a very good lesson, Govt controlled institutions tend to disappoint most of the time.

KenyaRE will only excite once they put a competent board and MD through an open and competitive process, govt appointees are in most cases Useless.

IMHO.

What do they plan to do the money with. There is ove ksh 6b. in retained earnings.

@guru where have you been? your jubelee did wonders!

>>I'm glad my recent order @9.80 didn't go through. Thinking about alternatives now.

LOL... Nothing will happen to the crooks! See KPC & ruto...