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KenyaRe FY19 - FY23 (Both Inclusive)
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AndyC
#581 Posted : Friday, January 22, 2021 2:45:52 PM
Rank: Member

Joined: 4/21/2015
Posts: 151
"Swiss Re's net loss forecast to hit $389mn in 2020, says Berenberg - Reinsurance News" https://www.reinsurancen...-in-2020-says-berenberg/
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Ericsson
#582 Posted : Friday, January 22, 2021 4:54:35 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Q3 Quarterly Reports 2020 - 2021

In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.

The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#583 Posted : Friday, January 22, 2021 9:19:36 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
Q3 Quarterly Reports 2020 - 2021

In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.

The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit.
Looking good! Though this is "operating profit" so there may be other expenses or losses not included.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#584 Posted : Saturday, January 23, 2021 3:15:09 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Q3 Quarterly Reports 2020 - 2021

In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.

The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit.
Looking good! Though this is "operating profit" so there may be other expenses or losses not included.


The long term business had a profit of sh.731.7mn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#585 Posted : Sunday, January 24, 2021 3:01:43 PM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
VituVingiSana wrote:
Ericsson wrote:
Q3 Quarterly Reports 2020 - 2021

In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.

The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit.
Looking good! Though this is "operating profit" so there may be other expenses or losses not included.


That means kenre will post an improved profit FY 2020
Towards the goal of financial freedom
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Ericsson
#586 Posted : Monday, January 25, 2021 1:39:57 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Ebenyo wrote:
VituVingiSana wrote:
Ericsson wrote:
Q3 Quarterly Reports 2020 - 2021

In Q3 2020, the general reinsurers reported an increase in the net premium income of 6.1% from KES 14.73billion reported by the end of Q3 2019 to KES 15.62billion in Q3 2020.
The reinsurers incurred KES 11.43billion in claims and KES 5.96billion in direct expenses (commissions and management expenses) representing an increase of 25.7% and1.9% respectively.

The operating profit for general reinsurance business improved significantly from a profit of KES 456.25million as at Q3 2019 to KES 2.32billion reported in Q3 2020 with Kenya Reinsurance Corporation contributing 69.9% of this profit.
Looking good! Though this is "operating profit" so there may be other expenses or losses not included.


That means kenre will post an improved profit FY 2020

They are also on a continental expansion mode.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#587 Posted : Sunday, January 31, 2021 11:11:45 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion



A special dividend will be great

From past experiences I don't see this coming.

Kenya Re needs to rejig their portfolio.
They should reduce their holding in government securities.Going forward yields on them are going down which will reduce the interest income.
Their portfolio in quoted securities is very small at ksh.2bn yet assets is 53bn.
In my opinion a good level of holdings in quoted securities should be about ksh.6bn
From 2bn to 6bn (with total assets of 53bn) hardly moves the needle. 10bn minimum (20%) in equities (at low prices) in good firms and reduce the % exposure to real estate.

Trying to sell the Kisumu building is a good start.


In the current economic environment,they are finding it difficult to get a buyer.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#588 Posted : Sunday, January 31, 2021 9:22:10 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion



A special dividend will be great

From past experiences I don't see this coming.

Kenya Re needs to rejig their portfolio.
They should reduce their holding in government securities.Going forward yields on them are going down which will reduce the interest income.
Their portfolio in quoted securities is very small at ksh.2bn yet assets is 53bn.
In my opinion a good level of holdings in quoted securities should be about ksh.6bn
From 2bn to 6bn (with total assets of 53bn) hardly moves the needle. 10bn minimum (20%) in equities (at low prices) in good firms and reduce the % exposure to real estate.

Trying to sell the Kisumu building is a good start.

In the current economic environment,they are finding it difficult to get a buyer.
Happens. No surprise there.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ebenyo
#589 Posted : Monday, February 01, 2021 11:29:40 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion



A special dividend will be great

From past experiences I don't see this coming.

Kenya Re needs to rejig their portfolio.
They should reduce their holding in government securities.Going forward yields on them are going down which will reduce the interest income.
Their portfolio in quoted securities is very small at ksh.2bn yet assets is 53bn.
In my opinion a good level of holdings in quoted securities should be about ksh.6bn
From 2bn to 6bn (with total assets of 53bn) hardly moves the needle. 10bn minimum (20%) in equities (at low prices) in good firms and reduce the % exposure to real estate.

Trying to sell the Kisumu building is a good start.

In the current economic environment,they are finding it difficult to get a buyer.
Happens. No surprise there.



Let them sell it and give the special dividend
Towards the goal of financial freedom
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VituVingiSana
#590 Posted : Monday, February 01, 2021 12:23:54 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ebenyo wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion



A special dividend will be great

From past experiences I don't see this coming.

Kenya Re needs to rejig their portfolio.
They should reduce their holding in government securities.Going forward yields on them are going down which will reduce the interest income.
Their portfolio in quoted securities is very small at ksh.2bn yet assets is 53bn.
In my opinion a good level of holdings in quoted securities should be about ksh.6bn
From 2bn to 6bn (with total assets of 53bn) hardly moves the needle. 10bn minimum (20%) in equities (at low prices) in good firms and reduce the % exposure to real estate.

Trying to sell the Kisumu building is a good start.

In the current economic environment,they are finding it difficult to get a buyer.
Happens. No surprise there.

Let them sell it and give the special dividend
#TanoTena manenos. I doubt it will be sold at 1bn in 2021.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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