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Insurance Counters at NSE - Valuation & recommendation
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mwekez@ji
#81 Posted : Friday, April 12, 2013 1:51:37 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
mwekez@ji on Wednesday, January 30, 2013 wrote:
Britam – BUY – TP 8.32 (35% upside)
CFCI – BUY – TP 11.55 (66% upside)
Pan Africa – BUY – TP 74.70 (72% upside)
Kenya Re – BUY – TP 18.75 (59% upside)

CIC – SELL – TP 3.37 (18% downside)

Source: Standard Investment Bank – 30.01.2013


Today VWAP (1:50pm)

Britam - KES 9.00
CFCI - KES 13.45
Pan Africa - KES 62.50 (19.5% more upside remaining)
Kenya Re - KES 16.90 (10.9% more upside remaining)

CIC - KES 5.70 #Madness at the counter

You now know where value is still available smile
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theking
#82 Posted : Friday, May 24, 2013 3:44:41 PM
Rank: Member


Joined: 1/25/2010
Posts: 344
mwekez@ji wrote:
Britam – BUY – TP 8.32 (35% upside)
CFCI – BUY – TP 11.55 (66% upside)
Pan Africa – BUY – TP 74.70 (72% upside)
Kenya Re – BUY – TP 18.75 (59% upside)

CIC – SELL – TP 3.37 (18% downside)

Source: Standard Investment Bank – 30.01.2013


this was quite spot on, they should have indicated the prevailing prices at that point in time
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Museveni
#83 Posted : Friday, May 24, 2013 9:09:14 PM
Rank: Member


Joined: 8/16/2012
Posts: 660
theking wrote:
mwekez@ji wrote:
Britam – BUY – TP 8.32 (35% upside)
CFCI – BUY – TP 11.55 (66% upside)
Pan Africa – BUY – TP 74.70 (72% upside)
Kenya Re – BUY – TP 18.75 (59% upside)

CIC – SELL – TP 3.37 (18% downside)

Source: Standard Investment Bank – 30.01.2013


this was quite spot on, they should have indicated the prevailing prices at that point (PP) in time


Britam – BUY – TP 8.32 (35% upside)
meaning 8.32 = 135% PP thus prevailing price was (8.32/135)* 100 ≈ 6.12

CFCI – BUY – TP 11.55 (66% upside)
meaning 11.55 = 166% PP thus prevailing price was (11.55/166)* 100 ≈ 6.96

Pan Africa – BUY – TP 74.70 (72% upside)
meaning 74.70 = 172% PP thus prevailing price at that point was (74.70/172)* 100 ≈ 43.43

Kenya Re – BUY – TP 18.75 (59% upside)
meaning 18.75 = 159% PP thus prevailing price at that point was (18.75/159)* 100 ≈ 11.79

CIC – SELL – TP 3.37 (18% downside)
meaning 3.37 = 82% PP thus prevailing price at that point was (3.37/82)* 100 ≈ 4.11

All assuming brokerage fees haven't been deducted
Live and learn; and don’t forget, nothing ventured, nothing gained.
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Kenyanhustler
#84 Posted : Saturday, May 25, 2013 7:47:02 AM
Rank: New-farer


Joined: 6/7/2010
Posts: 20
Location: Nairobi
I am a SIB client but I never get these recommendations ... where do I get them? I mean where exactly did u quote those from?
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mwanahisa
#85 Posted : Saturday, May 25, 2013 10:35:45 AM
Rank: Elder


Joined: 6/2/2008
Posts: 1,438
Kenyanhustler wrote:
I am a SIB client but I never get these recommendations ... where do I get them? I mean where exactly did u quote those from?


Write to research@sib.co.ke and request them to include you on their mailing list.
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mwekez@ji
#86 Posted : Sunday, May 26, 2013 12:36:27 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
mwanahisa wrote:
Kenyanhustler wrote:
I am a SIB client but I never get these recommendations ... where do I get them? I mean where exactly did u quote those from?


Write to research@sib.co.ke and request them to include you on their mailing list.
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mwekez@ji
#87 Posted : Sunday, May 26, 2013 12:38:18 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
btw, Kenya Re is now valued at KES 22 by Genghis Capital - BUY
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mwekez@ji
#88 Posted : Sunday, May 26, 2013 1:22:16 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
... & Pan Afric has really stepped up their game. have seen a number of their outstanding ads
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mibbz
#89 Posted : Sunday, May 26, 2013 3:54:40 AM
Rank: Member


Joined: 2/18/2011
Posts: 448
mwekez@ji wrote:
... & Pan Afric has really stepped up their game. have seen a number of their outstanding ads


What do you think is fair value for panafric? Is 75 achieavable by the time they announce H1 results?
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mwekez@ji
#90 Posted : Monday, May 27, 2013 12:13:51 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
mibbz wrote:
mwekez@ji wrote:
... & Pan Afric has really stepped up their game. have seen a number of their outstanding ads


What do you think is fair value for panafric? Is 75 achieavable by the time they announce H1 results?


H1 results will come towards end of August. 75 is achievable by then
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mwekez@ji
#91 Posted : Monday, May 27, 2013 12:15:49 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Pan Africa Insurance has increased its shareholding in fund management company Sanlam Investment by a tenth, raising its stake in the firm to 27.5 per cent.

The Nairobi Securities Exchange listed insurer bought the additional shares in the first quarter of this year, chief executive Tom Gitogo said in an interview.

“We have in quarter one this year increased the holding to 27.5 per cent as we believe in the future of fund management in this region,” said Mr Gitogo.

http://www.businessdailyafrica....6/-/asf7jlz/-/index.html
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mibbz
#92 Posted : Monday, May 27, 2013 12:40:16 AM
Rank: Member


Joined: 2/18/2011
Posts: 448
mwekez@ji wrote:
Pan Africa Insurance has increased its shareholding in fund management company Sanlam Investment by a tenth, raising its stake in the firm to 27.5 per cent.

The Nairobi Securities Exchange listed insurer bought the additional shares in the first quarter of this year, chief executive Tom Gitogo said in an interview.

“We have in quarter one this year increased the holding to 27.5 per cent as we believe in the future of fund management in this region,” said Mr Gitogo.

http://www.businessdailyafrica....6/-/asf7jlz/-/index.html


Am a happy shareholder,loving how this company is rebranding and getting aggressive,definately shall have very good H1 numbers
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Kausha
#93 Posted : Thursday, May 30, 2013 2:44:48 PM
Rank: Member


Joined: 2/8/2007
Posts: 808
Interesting and some other one is at an advanced stage in buying a general insurer and possibly a Fund Manager. Certainly a lot of M&A activity expected in the insurance arena this season.
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mwekez@ji
#94 Posted : Friday, June 07, 2013 10:53:12 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Jubilee Insurance seeks to acquire rival firms for market share growth #AGM

The drive by Jubilee to acquire rival firms is expected to step up deal making in the region’s insurance market.
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Metasploit
#95 Posted : Friday, June 07, 2013 11:23:27 AM
Rank: Veteran


Joined: 3/26/2012
Posts: 985
Location: Dar es salaam,Tanzania
Clearly CFCI has no weaklings! I like the way the sellers have always been in control

“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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maligumu
#96 Posted : Friday, June 07, 2013 1:46:27 PM
Rank: Member


Joined: 2/22/2010
Posts: 510
Location: De egg
Metasploit wrote:
Clearly CFCI has no weaklings! I like the way the sellers have always been in control


Is it good or bad for the market.
Peace be with you
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mlennyma
#97 Posted : Friday, June 07, 2013 3:13:40 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,184
Location: nairobi
You will not know how cfci will clock 20
"Don't let the fear of losing be greater than the excitement of winning."
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maligumu
#98 Posted : Friday, June 07, 2013 4:17:48 PM
Rank: Member


Joined: 2/22/2010
Posts: 510
Location: De egg
mlennyma wrote:
You will not know how cfci will clock 20


Sure
Peace be with you
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Metasploit
#99 Posted : Friday, June 07, 2013 5:10:56 PM
Rank: Veteran


Joined: 3/26/2012
Posts: 985
Location: Dar es salaam,Tanzania
maligumu wrote:
Metasploit wrote:
Clearly CFCI has no weaklings! I like the way the sellers have always been in control


Is it good or bad for the market.


This is extremely good.

Look at Kenya Re ,Everytime there is an effort to break past 18,desperate sellers set in.in Short, supply is always there but will soon dry out considering the volumes that have been trading between 17.5-18

“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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mwekez@ji
#100 Posted : Sunday, July 07, 2013 10:56:32 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Insurance firms increase capital cushion by Sh25bn

IRA has indicated recently that the minimum capitalisation threshold could go up again to encourage more insurance companies to form bigger and more stable firms through mergers. The regulator’s report showed the life insurance sector recorded the biggest capital growth, jumping 72 per cent from Sh14.08 billion to Sh24.26 billion. General insurers increased their capital by 36.5 per cent from Sh31.32 billion to Sh42.74 billion in the same period. Life reinsurance saw the capital base from Sh1.74 billion to Sh2.79 billion, a 60.5 per cent increase, while in the general re-insurance business capital rose 24.1 per cent from Sh11.78 billion to Sh14.62 billion.

Assets

“The industry’s gross written insurance premiums amounted to Sh36.4 billion by the end of the first quarter of 2013, representing an increase of 16.7 per cent from Sh31.2 billion recorded by the end of the same period in 2012,” said the regulator.

The premium income reported under life insurance business amounted to Sh10.9 billion while general business premiums were Sh25.5 billion by March 2013.

At the same time, the insurance industry assets grew by 29.2 per cent from Sh256.8 as at March 2012 to Sh331.8 billion in March 2013. In the same period, industry liabilities increased by 25 per cent to Sh247.4 billion.
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