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Kenya Re - what gives?
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Gatheuzi
#371 Posted : Tuesday, January 06, 2015 7:07:28 AM
Rank: Veteran

Joined: 8/16/2009
Posts: 994
S.Mutaga III wrote:
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.

I share the same sentiments. I am looking forward to when gvt will reduce its stake. Btw Kibaki n Kimunya were too good at ofloading gvt stakes to raise cash for infrastructure devt. Jubilee is yet to pull a first one, but will keep waiting.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Ericsson
#372 Posted : Monday, February 02, 2015 4:33:15 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
This counter I give it a valuation price of 60-65 when it's compared to its peers on a profit-profit basis and total assets.
Question is when will it ever reach that price.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Gatheuzi
#373 Posted : Monday, February 02, 2015 4:46:36 PM
Rank: Veteran

Joined: 8/16/2009
Posts: 994
Ericsson wrote:
This counter I give it a valuation price of 60-65 when it's compared to its peers on a profit-profit basis and total assets.
Question is when will it ever reach that price.


It is not an exact peer of Jubilee, PAN African, Britam and other insurance companies out there who run the general, life and other businesses. But your point is worth noting, in that the value is higher than 17 currently being manifested. So instead of watching from far, karibu kwenye kiti, tungojee dereva.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Ericsson
#374 Posted : Monday, February 02, 2015 4:57:50 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
@Gatheuzi
The corporation has the following divisions;
General
Life
Property
And has subisidaries in west Africa and in the process of opening one for southern Africa.
Huyo derevaa atakuja siku gani.Hii mambo inatakanga vitu zifanywe chap chap
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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MaichBlack
#375 Posted : Monday, February 02, 2015 5:51:20 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,836
Ericsson wrote:
@Gatheuzi
The corporation has the following divisions;
General
Life
Property
And has subisidaries in west Africa and in the process of opening one for southern Africa.
Huyo derevaa atakuja siku gani.Hii mambo inatakanga vitu zifanywe chap chap

Free advice. Get in a take a seat!!! When it takes off it takes off. And then you will be left mourning and saying I wish I knew. But in your case you will be lying because you know!

I'm in this bus. I know it is taking too long at the stage like those Leyland buses of them days but I'm not panicky. I am a long termer. If you are a speculator, then this one will test your patience big time!

When you hear akina Joe Wanjui and Kirubi selling shares worth billions, don't think they bought shares worth billions! Get my drift?
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Ericsson
#376 Posted : Monday, February 02, 2015 6:08:24 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
@MaichBlack;
A company that listed just recently (CIC Insurance)has twice market capitalization of Kenya Re and yet it makes half the profits of Kenya Re.Hii market iko na mashetani.
Joe Wanjui and Kirubi sold their stakes in UAP because competition has really dug into UAP business and they couldn't be able to match their speed so take a bow and let a deep pocketed suitor steer the company
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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MaichBlack
#377 Posted : Monday, February 02, 2015 6:50:10 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,836
Ericsson wrote:
@MaichBlack;
A company that listed just recently (CIC Insurance)has twice market capitalization of Kenya Re and yet it makes half the profits of Kenya Re.Hii market iko na mashetani.
Joe Wanjui and Kirubi sold their stakes in UAP because competition has really dug into UAP business and they couldn't be able to match their speed so take a bow and let a deep pocketed suitor steer the company

My points are: -

1) Identify value/bargains. When you do, invest and relax.

2) Think long term. If what you have now is valuable you can relax. Thousands will turn to millions and millions to billions. Do you know how much James Mwangi's stake at equity is worth? Do you know much he has already pocketed in sale of some of the shares he held. And now, and this is the best question, do you know how much he had put in? And all along people have been waiting for Equity to collapse.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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guru267
#378 Posted : Monday, February 02, 2015 7:45:20 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
After what Old mutual paid Kenya re is a diamond!

All we need is like Munich re to come in and acquire 40% of G.O.K stake and unlock some value...
Mark 12:29
Deuteronomy 4:16
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murchr
#379 Posted : Monday, February 02, 2015 7:46:19 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
MaichBlack wrote:
Ericsson wrote:
@MaichBlack;
A company that listed just recently (CIC Insurance)has twice market capitalization of Kenya Re and yet it makes half the profits of Kenya Re.Hii market iko na mashetani.
Joe Wanjui and Kirubi sold their stakes in UAP because competition has really dug into UAP business and they couldn't be able to match their speed so take a bow and let a deep pocketed suitor steer the company

My points are: -

1) Identify value/bargains. When you do, invest and relax.

2) Think long term. If what you have now is valuable you can relax. Thousands will turn to millions and millions to billions. Do you know how much James Mwangi's stake at equity is worth? Do you know much he has already pocketed in sale of some of the shares he held. And now, and this is the best question, do you know how much he had put in? And all along people have been waiting for Equity to collapse.


@Maich, @Ericsson Owns some KNRE. He's just complaining that the thing never moves. I feel him. This one, is almost dormant on my portfolio infact i never look at the price changes.
"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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MaichBlack
#380 Posted : Monday, February 02, 2015 8:28:24 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,836
murchr wrote:
MaichBlack wrote:
Ericsson wrote:
@MaichBlack;
A company that listed just recently (CIC Insurance)has twice market capitalization of Kenya Re and yet it makes half the profits of Kenya Re.Hii market iko na mashetani.
Joe Wanjui and Kirubi sold their stakes in UAP because competition has really dug into UAP business and they couldn't be able to match their speed so take a bow and let a deep pocketed suitor steer the company

My points are: -

1) Identify value/bargains. When you do, invest and relax.

2) Think long term. If what you have now is valuable you can relax. Thousands will turn to millions and millions to billions. Do you know how much James Mwangi's stake at equity is worth? Do you know much he has already pocketed in sale of some of the shares he held. And now, and this is the best question, do you know how much he had put in? And all along people have been waiting for Equity to collapse.


@Maich, @Ericsson Owns some KNRE. He's just complaining that the thing never moves. I feel him. This one, is almost dormant on my portfolio infact i never look at the price changes.

We are many. I am also in the bus. I'm thinking of buying some for my daughter. She is an [extremely] long term investor only that she hasn't know it yet! It's very difficult picking counters for her. I'd hate to lose her money - it's a psychological thing. But this might be a safe bet as any.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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