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Kenya Re - 2018 and beyond
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Ericsson wrote:VituVingiSana wrote:24th August What happens on that day. Half year results or what Seems yesterdays share price rally was due to the half year results Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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VituVingiSana wrote:24th August Pesa Nane plans to be shilingi when he grows up.
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Rank: Member Joined: 5/2/2018 Posts: 267
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Kenya Re's after-tax profit for the six months to June 30th dipped 24.1% to Sh1.23bn from Sh1.62bn in HY 2017, as total income fell 5.7% to Sh8.31bn from Sh8.81bn, while expenses rose 0.8% to Sh6.56bn from Sh6.51bn.
Notably, the re-insurer increased its provisions for doubtful debt six-fold to Sh619.76m, from Sh104.33m in HY2017.
The financial statements are signed by Jadiah Mwarania, principal officer, David Kemei, chairman, and Anthony Munyao, a director.
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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Superprime1 wrote:Kenya Re's after-tax profit for the six months to June 30th dipped 24.1% to Sh1.23bn from Sh1.62bn in HY 2017, as total income fell 5.7% to Sh8.31bn from Sh8.81bn, while expenses rose 0.8% to Sh6.56bn from Sh6.51bn.
Notably, the re-insurer increased its provisions for doubtful debt six-fold to Sh619.76m, from Sh104.33m in HY2017.
The financial statements are signed by Jadiah Mwarania, principal officer, David Kemei, chairman, and Anthony Munyao, a director.  This one, ok. Let us watch and see. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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Pesa Nane wrote:VituVingiSana wrote:24th August Results out. Investor Briefing tomorrow. PAT down due to increased provisions  Provisions +500mn yoy  Receivables down  Cash and near-cash up (20bn) Decent results given the huge provisions BUT that also raises a red flag. Why didn't KenRe write off these amounts earlier? Why do they allow unpaid premiums to pile up? The moment the unpaid premium gets to 30 days, then cancel the policy. Perhaps only count as income those premiums that are paid even if using accrual accounting, KenRe can "provide" for unpaid premiums as a contra item. Of course, there could be an element of cleaning up the books so 2H looks better. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 4/4/2016 Posts: 2,016 Location: Kitale
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VituVingiSana wrote:Pesa Nane wrote:VituVingiSana wrote:24th August Results out. Investor Briefing tomorrow. PAT down due to increased provisions Provisions +500mn yoy Receivables down Cash and near-cash up (20bn) Decent results given the huge provisions BUT that also raises a red flag. Why didn't KenRe write off these amounts earlier? Why do they allow unpaid premiums to pile up? The moment the unpaid premium gets to 30 days, then cancel the policy. Perhaps only count as income those premiums that are paid even if using accrual accounting, KenRe can "provide" for unpaid premiums as a contra item. Of course, there could be an element of cleaning up the books so 2H looks better. Towards the goal of financial freedom
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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Superprime1 wrote:Kenya Re's after-tax profit for the six months to June 30th dipped 24.1% to Sh1.23bn from Sh1.62bn in HY 2017, as total income fell 5.7% to Sh8.31bn from Sh8.81bn, while expenses rose 0.8% to Sh6.56bn from Sh6.51bn.
Notably, the re-insurer increased its provisions for doubtful debt six-fold to Sh619.76m, from Sh104.33m in HY2017.
The financial statements are signed by Jadiah Mwarania, principal officer, David Kemei, chairman, and Anthony Munyao, a director. Were they in the same room?  #BringMwaraniaBack worked Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Angelica _ann wrote:Ebenyo wrote:Ericsson wrote:Kenya re should be giving a dividend of more than a shilling.
next year i project a dividend of kshs 0.90 from these year kshs 0.85 Next ARM, watch this space. How did i miss this post. Lol Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Tactic of painting a bad picture that the chairman and the acting MD were failures during the time Mwarania was ejected. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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VituVingiSana wrote:Pesa Nane wrote:VituVingiSana wrote:24th August Results out. Investor Briefing tomorrow. PAT down due to increased provisions Provisions +500mn yoy Receivables down Cash and near-cash up (20bn) Decent results given the huge provisions BUT that also raises a red flag. Why didn't KenRe write off these amounts earlier? Why do they allow unpaid premiums to pile up? The moment the unpaid premium gets to 30 days, then cancel the policy. Perhaps only count as income those premiums that are paid even if using accrual accounting, KenRe can "provide" for unpaid premiums as a contra item. Of course, there could be an element of cleaning up the books so 2H looks better. Pesanane do something and post the detailed results here Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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