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Kenya Re - what gives?
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Ericsson
#361 Posted : Wednesday, November 12, 2014 9:41:42 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
As we head toward the close of the year what is the opinion from wazuans about the mandatory 18% reinsurance business Kenya Re gets from all insurance companies.
I foresee the government extending the mandatory concession for another 5 years
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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mkeiy
#362 Posted : Wednesday, November 12, 2014 9:47:46 AM
Rank: Member

Joined: 1/27/2012
Posts: 851
Location: Nairobi
mkeiyd wrote:
What ails this stock?

Airport fire? Westgate? The impending expiry of its mandatory share of local reinsurance business?

PE of 5.62 Against;

Pan Africa's 13.42,
CiC 16.80,
Jubilee 8.45

@guru and others, What muted the drum beats?
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VituVingiSana
#363 Posted : Wednesday, November 12, 2014 10:33:45 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
mkeiy wrote:
mkeiyd wrote:
What ails this stock?

Airport fire? Westgate? The impending expiry of its mandatory share of local reinsurance business?

PE of 5.62 Against;

Pan Africa's 13.42,
CiC 16.80,
Jubilee 8.45

@guru and others, What muted the drum beats?

Kenya Re has always (post-IPO pop) traded at a discount to its NAV though it is in a different business vs the insurance firms which are financial supermarkets with Asset Management arms. So Kenya Re vs PAI, CIC, JIC is a not an apples to apples comparison.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#364 Posted : Wednesday, November 12, 2014 10:35:36 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
As we head toward the close of the year what is the opinion from wazuans about the mandatory 18% reinsurance business Kenya Re gets from all insurance companies.
I foresee the government extending the mandatory concession for another 5 years
IMHO, it should NOT extend the compulsory reinsurance. Let Kenya Re fight it out with the rest. That said, if it is anything like what we have seen with Mumias (or sugar firms) then GoK will extend the protection since GoK owns 60% of Kenya Re.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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guru267
#365 Posted : Wednesday, November 12, 2014 11:04:06 AM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
mkeiy wrote:
mkeiyd wrote:
What ails this stock?

Airport fire? Westgate? The impending expiry of its mandatory share of local reinsurance business?

PE of 5.62 Against;

Pan Africa's 13.42,
CiC 16.80,
Jubilee 8.45

@guru and others, What muted the drum beats?



KRA is suing for 1.2 Billion.. Kenya re refutes this amount.

Kenya re might provide for this payment come year end!
Mark 12:29
Deuteronomy 4:16
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Ericsson
#366 Posted : Wednesday, November 12, 2014 11:06:03 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Government will settle the dispute.
Kenya re is one of the cows Rotich depends on for milk (dividends)received
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#367 Posted : Wednesday, November 12, 2014 11:36:25 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
Government will settle the dispute.
Kenya re is one of the cows Rotich depends on for milk (dividends)received
GoK gets only 60% of Kenya Re's PAT and 100% of KRA's extortion...!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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littledove
#368 Posted : Wednesday, December 17, 2014 1:35:06 PM
Rank: Veteran

Joined: 7/1/2014
Posts: 927
Location: sky
something is happenning here!! a few days ago a big volume of 45m pushed the price to 18 from 16 rage, today a volume of 75m pushes the price to 18.50 from 17 range, some months ago such volumes propelled it to above 20 and they have not exited
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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murchr
#369 Posted : Monday, January 05, 2015 3:19:37 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Business Daily wrote:
US rating agency AM Best has assigned Kenya Reinsurance Corporation (Kenya Re) a stable rating, meaning the firm is in a strong financial position in terms of ability to pay claims.

The agency assigned the majority State-owned firm a strong “bbb” (up from “bbb-”) credit rating meaning the listed re-insurer can comfortably pay claims.

AM Best also affirmed Kenya Re’s B+ rating on expectations that the reinsurer will deliver strong 2014 financial results.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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S.Mutaga III
#370 Posted : Monday, January 05, 2015 4:04:30 PM
Rank: Member

Joined: 3/26/2012
Posts: 830
murchr wrote:
Business Daily wrote:
US rating agency AM Best has assigned Kenya Reinsurance Corporation (Kenya Re) a stable rating, meaning the firm is in a strong financial position in terms of ability to pay claims.

The agency assigned the majority State-owned firm a strong “bbb” (up from “bbb-”) credit rating meaning the listed re-insurer can comfortably pay claims.

AM Best also affirmed Kenya Re’s B+ rating on expectations that the reinsurer will deliver strong 2014 financial results.

I personally think Kenya Re is a heavily discounted counter with the only turn off being the meagre dividends and large government shareholding in it. If the government were to reduce its shareholding to a non controlling stake, this would be a counter to watch going forward. Still a good play for a long term investor.
A successful man is not he who gets the best, it is he who makes the best from what he gets.
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