wazua Sun, Dec 22, 2024
Welcome Guest Search | Active Topics | Log In | Register

9 Pages«<23456>»
JUBILEE HOLDINGS
Options
Previous Topic · Next Topic
Ericsson
#61 Posted : Wednesday, January 06, 2021 8:55:40 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder 🔊 than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?


It will be measured post transaction when you will see the revenue/income Jubilee will be making.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
 Report Abusive | Report SPAM
VituVingiSana
#62 Posted : Wednesday, January 06, 2021 10:32:12 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder 🔊 than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?


It will be measured post transaction when you will see the revenue/income Jubilee will be making.

Revenues, per IFRS, will drop since the subsidiaries will be de-consolidated according to IFRS.

Do note that IFRS17 also kicks in 1 Jan 2023.

The comparison should be Apple to Apples.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Back to top
 Report Abusive | Report SPAM
Ericsson
#63 Posted : Wednesday, January 06, 2021 10:41:07 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder 🔊 than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?


It will be measured post transaction when you will see the revenue/income Jubilee will be making.

Revenues, per IFRS, will drop since the subsidiaries will be de-consolidated according to IFRS.

Do note that IFRS17 also kicks in 1 Jan 2023.

The comparison should be Apple to Apples.


They said the funds will be deployed to profitable ventures.
We wait and see.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
 Report Abusive | Report SPAM | Edit by user: Wednesday, January 06, 2021 10:43 AM | Reason: Not specified
Ericsson
#64 Posted : Monday, January 11, 2021 10:06:51 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
https://www.businessdail...er-allianz-deal-3253014

The sh.7.7bn proceeds they will get from Allianz will be used to expand life,medical business and invest in financial instruments and securities.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
 Report Abusive | Report SPAM
Ericsson
#65 Posted : Monday, January 18, 2021 9:26:37 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder 🔊 than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?



https://www.businessdail...neral-insurance-3260150

Meanwhile, Britam Life maintained the lead in the long-term insurance despite its market share shrinking from 24.7 percent to 23.96 percent.

ICEA Lion Life Assurance beat Jubilee to the second spot with a market share of 14.68 percent, a rise from 13.8 percent in June 2019.

Jubilee Insurance had the biggest drop with it's market share dropping from 15.5% in 2019 Q2 to 13.4% in Q2 2020.
ICEA LION Life Assurance had the biggest jump.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
 Report Abusive | Report SPAM | Edit by user: Monday, January 18, 2021 9:31 AM | Reason: Not specified
VituVingiSana
#66 Posted : Monday, January 18, 2021 9:58:56 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder 🔊 than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?



https://www.businessdail...neral-insurance-3260150

Meanwhile, Britam Life maintained the lead in the long-term insurance despite its market share shrinking from 24.7 percent to 23.96 percent.

ICEA Lion Life Assurance beat Jubilee to the second spot with a market share of 14.68 percent, a rise from 13.8 percent in June 2019.

Jubilee Insurance had the biggest drop with it's market share dropping from 15.5% in 2019 Q2 to 13.4% in Q2 2020.
ICEA LION Life Assurance had the biggest jump.

Market share is not profits.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Back to top
 Report Abusive | Report SPAM
Ericsson
#67 Posted : Monday, January 18, 2021 10:28:48 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder 🔊 than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?



https://www.businessdail...neral-insurance-3260150

Meanwhile, Britam Life maintained the lead in the long-term insurance despite its market share shrinking from 24.7 percent to 23.96 percent.

ICEA Lion Life Assurance beat Jubilee to the second spot with a market share of 14.68 percent, a rise from 13.8 percent in June 2019.

Jubilee Insurance had the biggest drop with it's market share dropping from 15.5% in 2019 Q2 to 13.4% in Q2 2020.
ICEA LION Life Assurance had the biggest jump.

Market share is not profits.



We are going step by step,so that at the conclusion whatever the outcome there will be no noise like where is the evidence.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
 Report Abusive | Report SPAM
Ericsson
#68 Posted : Friday, April 16, 2021 9:37:32 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
FY2020 Results
https://pbs.twimg.com/me...rmat=jpg&name=small

Gross Written premiums ksh.29.97bn
Investment Income Ksh.11.295bn
Profit before Tax Ksh.5.076bn
Profit after tax Ksh.4.087bn

Jubilee holdings has classified sh 19.3 billion equivalent to 13 .2 percent of its business for sale. This can be attributable to the transaction to sell most portions of its general insurance business.

Ksh.13.5 billion as corresponding liability to asset held for sale. The Net asset is therefore Shs 5.8 billion.
Jubilee Holdings will receive sh 7.75 billion as proceeds from the transaction giving it a net gain of shs 1.95 billion.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
 Report Abusive | Report SPAM
Ericsson
#69 Posted : Monday, April 19, 2021 1:01:07 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
https://www.businessdail...o-close-in-june-3367484

Transaction with Allianz to be concluded in June
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
 Report Abusive | Report SPAM
Ericsson
#70 Posted : Tuesday, May 04, 2021 9:45:36 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Ericsson wrote:
https://www.businessdailyafrica.com/bd/corporate/companies/jubilee-stakes-deal-with-allianz-to-close-in-june-3367484

Transaction with Allianz to be concluded in June


Allianz completes 66% acquisition of Jubilee General Insurance Kenya.
The new entity is now known as Allianz-Jubilee

https://www.businessdail...neral-insurance-3388014

The completion of acquisitions of Jubilee General Insurance in Tanzania,Uganda,Burundi and Mauritius to follow.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
 Report Abusive | Report SPAM | Edit by user: Wednesday, May 05, 2021 8:08 AM | Reason: Not specified
Angelica _ann
#71 Posted : Friday, May 28, 2021 5:00:58 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,908
https://businesstoday.co...enya-managers-take-over/
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Back to top
 Report Abusive | Report SPAM
Ericsson
#72 Posted : Friday, June 04, 2021 12:03:08 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Jubilee insurance to seek shareholders approval to add share buyback in the articles of association.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
 Report Abusive | Report SPAM | Edit by user: Friday, June 04, 2021 12:15 PM | Reason: Not specified
deadpoet
#73 Posted : Friday, June 04, 2021 6:01:25 PM
Rank: Member


Joined: 9/27/2006
Posts: 503
Don't they have less than 100m shares? They should be splitting instead of buying back shares.
Back to top
 Report Abusive | Report SPAM
Ericsson
#74 Posted : Sunday, June 06, 2021 10:23:30 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
deadpoet wrote:
Don't they have less than 100m shares? They should be splitting instead of buying back shares.


They are using part of the proceeds to do a sharebuy back.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
 Report Abusive | Report SPAM
blackcobra
#75 Posted : Monday, June 07, 2021 10:38:57 AM
Rank: New-farer


Joined: 1/7/2010
Posts: 68
Location: kenya
These news on the buyback has been received well in the market. Currently trading at 20+ high. This is likely going to exert more upward pressure to the price of the already pricey share, a replica of what happened to NMG. However, i am thinking that this idea of buyback will reduce the company's liquidity and make the share less liquid. This is not a good move.

However, Jubilee is a profitable company, always giving dividends. Trading at 280, which is way below its Net Asset Value per share of 451 recorded in the yr ending Dec 2020. Its a good counter, though with the spike in price, it might be eish eish to hop in.
Back to top
 Report Abusive | Report SPAM | Edit by user: Monday, June 07, 2021 10:57 AM | Reason: Not specified
VituVingiSana
#76 Posted : Monday, June 07, 2021 1:58:38 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
blackcobra wrote:
These news on the buyback has been received well in the market. Currently trading at 20+ high. This is likely going to exert more upward pressure to the price of the already pricey share, a replica of what happened to NMG. However, i am thinking that this idea of buyback will reduce the company's liquidity and make the share less liquid. This is not a good move.

However, Jubilee is a profitable company, always giving dividends. Trading at 280, which is way below its Net Asset Value per share of 451 recorded in the yr ending Dec 2020. Its a good counter, though with the spike in price, it might be eish eish to hop in.
Smart to do a buyback when it is trading at 60% of NAV. It should buy back shares at 350 or lower if there are not decent opportunities.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Back to top
 Report Abusive | Report SPAM
Ericsson
#77 Posted : Monday, June 07, 2021 2:48:38 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
blackcobra wrote:
These news on the buyback has been received well in the market. Currently trading at 20+ high. This is likely going to exert more upward pressure to the price of the already pricey share, a replica of what happened to NMG. However, i am thinking that this idea of buyback will reduce the company's liquidity and make the share less liquid. This is not a good move.

However, Jubilee is a profitable company, always giving dividends. Trading at 280, which is way below its Net Asset Value per share of 451 recorded in the yr ending Dec 2020. Its a good counter, though with the spike in price, it might be eish eish to hop in.
Smart to do a buyback when it is trading at 60% of NAV. It should buy back shares at 350 or lower if there are not decent opportunities.


Special dividend will they issue one?
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
 Report Abusive | Report SPAM
blackcobra
#78 Posted : Tuesday, June 08, 2021 10:26:40 AM
Rank: New-farer


Joined: 1/7/2010
Posts: 68
Location: kenya
Ericsson wrote:
VituVingiSana wrote:
blackcobra wrote:
These news on the buyback has been received well in the market. Currently trading at 20+ high. This is likely going to exert more upward pressure to the price of the already pricey share, a replica of what happened to NMG. However, i am thinking that this idea of buyback will reduce the company's liquidity and make the share less liquid. This is not a good move.

However, Jubilee is a profitable company, always giving dividends. Trading at 280, which is way below its Net Asset Value per share of 451 recorded in the yr ending Dec 2020. Its a good counter, though with the spike in price, it might be eish eish to hop in.
Smart to do a buyback when it is trading at 60% of NAV. It should buy back shares at 350 or lower if there are not decent opportunities.


Special dividend will they issue one?


With Jubilee, anything is possible. When we all expect a split to make the share affordable, they are talking of a buyback.... this ill drive the price very high.
Back to top
 Report Abusive | Report SPAM
VituVingiSana
#79 Posted : Tuesday, June 08, 2021 1:26:35 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
blackcobra wrote:
Ericsson wrote:
VituVingiSana wrote:
blackcobra wrote:
These news on the buyback has been received well in the market. Currently trading at 20+ high. This is likely going to exert more upward pressure to the price of the already pricey share, a replica of what happened to NMG. However, i am thinking that this idea of buyback will reduce the company's liquidity and make the share less liquid. This is not a good move.

However, Jubilee is a profitable company, always giving dividends. Trading at 280, which is way below its Net Asset Value per share of 451 recorded in the yr ending Dec 2020. Its a good counter, though with the spike in price, it might be eish eish to hop in.
Smart to do a buyback when it is trading at 60% of NAV. It should buy back shares at 350 or lower if there are not decent opportunities.


Special dividend will they issue one?


With Jubilee, anything is possible. When we all expect a split to make the share affordable, they are talking of a buyback.... this ill drive the price very high.
There is no need to split the shares. A buyback (at a price significantly lower than NAV or Intrinsic Value) makes sense for shareholders who want to stay in.

Special Dividend: Perhaps!

Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Back to top
 Report Abusive | Report SPAM
Ericsson
#80 Posted : Friday, June 11, 2021 5:39:21 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder 🔊 than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?


Jubilee Holdings subsidiaries pre-Allianz deal
Jubilee life insurance limited (100%)
Jubilee General Insurance limited (100%)
Jubilee Health insurance limited (100%)
Jubilee Insurance Company of Uganda (65%)
Jubilee life insurance company of Uganda (65%)
Jubilee Insurance Company of Tanzania (51%)
Jubilee Life Insurance Company of Tanzania (51%)
Jubilee Insurance Company of Burundi S.A (70%)
Jubilee Life Insurance Company of Burundi S.A (70%)
Jubilee Insurance Mauritius Limited (80%)
Jubilee Financial Services Limited (100%)
Jubilee Investments Company Limited Uganda (100%)
Jubilee Investments Tanzania Limited (100%)
Jubilee Investments Burundi S.U (100%)
Jubilee Center Burundi S.P.R.L (80%)

Jubilee Holdings shareholding post-Allianz deal
Jubilee life insurance limited (100%)
Jubilee General Insurance limited (34%)
Jubilee Health insurance limited (100%)
Jubilee Insurance Company of Uganda (34%)
Jubilee life insurance company of Uganda (65%)
Jubilee Insurance Company of Tanzania (15%)
Jubilee Life Insurance Company of Tanzania (51%)
Jubilee Insurance Company of Burundi S.A (19%)
Jubilee Life Insurance Company of Burundi S.A (70%)
Jubilee Insurance Mauritius Limited (25.85%)
Jubilee Financial Services Limited (100%)
Jubilee Investments Company Limited Uganda (100%)
Jubilee Investments Tanzania Limited (100%)
Jubilee Investments Burundi S.U (100%)
Jubilee Center Burundi S.P.R.L (80%)

The following then become associates;
Jubilee General Insurance limited (34%)
Jubilee Insurance Company of Uganda (34%)
Jubilee Insurance Company of Tanzania (15%)
Jubilee Insurance Company of Burundi S.A (19%)
Jubilee Insurance Mauritius Limited (25.85%)

Jubilee Holdings Subsidiaries
Jubilee life insurance limited (100%)
Jubilee Health insurance limited (100%)
Jubilee life insurance company of Uganda (65%)
Jubilee Life Insurance Company of Tanzania (51%)
Jubilee Life Insurance Company of Burundi S.A (70%)
Jubilee Financial Services Limited (100%)
Jubilee Investments Company Limited Uganda (100%)
Jubilee Investments Tanzania Limited (100%)
Jubilee Investments Burundi S.U (100%)
Jubilee Center Burundi S.P.R.L (80%)
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
 Report Abusive | Report SPAM | Edit by user: Friday, June 11, 2021 6:18 AM | Reason: Not specified
Users browsing this topic
Guest (5)
9 Pages«<23456>»
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2024 Wazua.co.ke. All Rights Reserved.