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Ericsson		#11 Posted : Wednesday, May 01, 2019 10:26:36 AM
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI		Link to the financial results; https://jubileeinsurance...ncials-2018-Outlined.pdf Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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VituVingiSana		#12 Posted : Wednesday, May 01, 2019 11:42:38 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi		Ericsson wrote: Ebenyo wrote: Ericsson wrote: JHL’s overall GWP increased to KShs 34.8 billion (2017 – KShs 33.8 billion), whilst pre-tax profit increased 4.8% to KShs 5.41 billion (2017 – KShs 5.16 billion), supported by a strong contribution from insurance results at KShs 2.9 billion (2017 – KShs 2.7 billion). The Group’s total assets increased by 9% to KShs 114 billion from KShs 105 billion and total shareholders’ equity and reserves increased 11% from KShs 23.6 billion to KShs 26.1 billion JHL’s long term business posted a growth of 2% to KShs 14 Billion, which included Individual Life growth of 19% as the Group continues to implement the strategy to increase insurance penetration, particularly in Uganda and Tanzania Jubilee Holdings Limited maintained its regional market leadership in medical business and posted a growth of 4% from KShs 9.5 billion to KShs 9.9 billion, with underwriting profit of KShs 753 million (2017: KShs 878 million JHL’s underwriting profits grew by 14% to KShs 609 million from KShs 534 million with strong contributions from the Uganda, Tanzania and Burundi operations. During the year, the Boards of JHL and Jubilee Insurance Kenya approved the split of the Kenya subsidiary into three separate companies specializing in Medical, General and Life businesses respectively Jubilee Holdings Board has declared a final dividend of Ksh 8.00 per share for a combined interim and final dividend of Ksh 9.00 per share. Good management pays dividend whether there is growth in profits or not. The dividend is to boost share price.If you look at the total amount of money been paid as dividends as compared to the profits,its peanuts. Meanwhile this year project another decline in earned premiums Is there anything new in Jubilee sticking to a low Dividend Payout Ratio? When was the last time Jubilee had a Rights Issue? “[A great insurance manager] follows the policy of sticking with business that he understands and wants, without giving consideration to the impact on volume.” Berkshire Hathaway 1978 letter page 6. “We hear about a great many insurance managers talk about being willing to reduce volume in order to underwrite profitably, but we find that very few actually do so.” Berkshire Hathaway 1979 letter page 5. While it is common to talk about writing business only with strict underwriting criteria, it is hard to avoid the siren song of growth, especially for publicly traded carriers that have to worry about investors who only care about next quarter. Though it is challenging, a good underwriter must practice discipline in choosing the risks that it insures. Profitable companies will understand that this may mean growing more slowly or less than the year before but will assure profitability. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Ericsson		#13 Posted : Thursday, May 02, 2019 6:37:14 AM
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI		VituVingiSana wrote: Ericsson wrote: Ebenyo wrote: Ericsson wrote: JHL’s overall GWP increased to KShs 34.8 billion (2017 – KShs 33.8 billion), whilst pre-tax profit increased 4.8% to KShs 5.41 billion (2017 – KShs 5.16 billion), supported by a strong contribution from insurance results at KShs 2.9 billion (2017 – KShs 2.7 billion). The Group’s total assets increased by 9% to KShs 114 billion from KShs 105 billion and total shareholders’ equity and reserves increased 11% from KShs 23.6 billion to KShs 26.1 billion JHL’s long term business posted a growth of 2% to KShs 14 Billion, which included Individual Life growth of 19% as the Group continues to implement the strategy to increase insurance penetration, particularly in Uganda and Tanzania Jubilee Holdings Limited maintained its regional market leadership in medical business and posted a growth of 4% from KShs 9.5 billion to KShs 9.9 billion, with underwriting profit of KShs 753 million (2017: KShs 878 million JHL’s underwriting profits grew by 14% to KShs 609 million from KShs 534 million with strong contributions from the Uganda, Tanzania and Burundi operations. During the year, the Boards of JHL and Jubilee Insurance Kenya approved the split of the Kenya subsidiary into three separate companies specializing in Medical, General and Life businesses respectively Jubilee Holdings Board has declared a final dividend of Ksh 8.00 per share for a combined interim and final dividend of Ksh 9.00 per share. Good management pays dividend whether there is growth in profits or not. The dividend is to boost share price.If you look at the total amount of money been paid as dividends as compared to the profits,its peanuts. Meanwhile this year project another decline in earned premiums Is there anything new in Jubilee sticking to a low Dividend Payout Ratio? When was the last time Jubilee had a Rights Issue? “[A great insurance manager] follows the policy of sticking with business that he understands and wants, without giving consideration to the impact on volume.” Berkshire Hathaway 1978 letter page 6. “We hear about a great many insurance managers talk about being willing to reduce volume in order to underwrite profitably, but we find that very few actually do so.” Berkshire Hathaway 1979 letter page 5. While it is common to talk about writing business only with strict underwriting criteria, it is hard to avoid the siren song of growth, especially for publicly traded carriers that have to worry about investors who only care about next quarter. Though it is challenging, a good underwriter must practice discipline in choosing the risks that it insures. Profitable companies will understand that this may mean growing more slowly or less than the year before but will assure profitability. Which listed insurance has ever done a rights issue in the NSE? Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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VituVingiSana		#14 Posted : Thursday, May 02, 2019 6:58:57 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi		A lesson for investors in Insurance Firms from The Oracle of Omaha: “[A great insurance manager] follows the policy of sticking with business that he understands and wants, without giving consideration to the impact on volume.” Berkshire Hathaway 1978 letter page 6. “We hear about a great many insurance managers talk about being willing to reduce volume in order to underwrite profitably, but we find that very few actually do so.” Berkshire Hathaway 1979 letter page 5. While it is common to talk about writing business only with strict underwriting criteria, it is hard to avoid the siren song of growth, especially for publicly traded carriers that have to worry about investors who only care about next quarter. Though it is challenging, a good underwriter must practice discipline in choosing the risks that it insures. Profitable companies will understand that this may mean growing more slowly or less than the year before but will assure profitability. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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