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Jubilee Holdings results FY2010 profit jumps 84 pct
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the deal
#121 Posted : Saturday, June 04, 2011 11:45:14 AM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@investor read what i have written above...be wise...that blog tells you nothing...i have repeated myself twice...yes i will in the near future and Jub will still be no 1 probably followed by CIC. I rest my case.
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QW25071985
#122 Posted : Saturday, June 04, 2011 11:48:58 AM
Rank: Veteran


Joined: 3/25/2011
Posts: 946
@investor . stop making a fool of yourself here. Yani u can pick up info on a blog and run with it to your broker to buy shares ?????Thats dangerous.The best such info shld do is to get you thinking for yourself..
in fx its even worse.Guys have soooooo many opinions on where the price shld head to but i dnt take it. i do my own research and take my stand.If i fail i learn from my mistake and do it again
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QW25071985
#123 Posted : Saturday, June 04, 2011 12:01:59 PM
Rank: Veteran


Joined: 3/25/2011
Posts: 946
On a lighter note anybody ever heard of a Breastaurant ????

check link : http://www.urbandictiona...e.php?term=breastaurant

its all the rage in US
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invest0r
#124 Posted : Saturday, June 04, 2011 12:06:59 PM
Rank: Member


Joined: 12/15/2010
Posts: 162
@the deal, i consider a load of things when investing in a stock, like any wise investor would do. I would never base my investment decisions on information contained in a blog. I do my research intensively and thoroughly. My discussion with @guru267 was only in one, only one, item in the Jubilee books.

@QW25071985, EVERYBODY KNOWS YOU ARE ALWAYS THE FOOL IN THIS FORUM OF WAZUA. YOU CANNOT PULL ME TO ARGUE WITH YOU.

I lay to rest this case.
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guru267
#125 Posted : Saturday, June 04, 2011 12:58:51 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
invest0r wrote:
@guru267, read my concluding remarks properly. To make it clear to you, the chairman’s statement contradicts the auditors report and so it’s prudent to go with the independent auditor’s report that is certified as true and accepted by NSE and CMA.

And note that I have not related the blog and the chairman’s statement in any way.

@investor the problem here is that you and some other wazuans are of the opinion that underwriting profits are always calculated by subtracting net claims and benefits from net premiums.. You and the others have a very long way to go in accounting...

By the way I didnt locate where the auditors talked about jubilees undewriting loss which is contrary to the chairmans statement as you so accuse.. Kindly post the link so that we can close the matter.. Thanx
Mark 12:29
Deuteronomy 4:16
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holycow
#126 Posted : Saturday, June 04, 2011 1:37:33 PM
Rank: Veteran


Joined: 11/11/2006
Posts: 972
Location: Home
Eish,Eh? guess insurance/actuarial science is not my cup of tea judging by this thread and the Britak one.
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youcan'tstopusnow
#127 Posted : Saturday, June 04, 2011 7:05:25 PM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
deal, sorry to say this, but its hard to take you serious nowadays. You shift goalposts every so often! You are exhibiting qw-like beahviour. Perhaps qw syndrome?
Mara, Britak is the shit, mara its not
Mara banks will not make you money, mara they will.
Mara Jublee is Gold, mara its trash, now its gold again
Be consistent ama you'll end up being YBC a.k.a Yawe a.k.a Capital Markets Geek
It is clear that even if Jubilee made 500 million in underwriting profit, it is not the best in the industry as is being shouted from the rooftops
invest0r's beef is that Financial Reports are supposed to reflect utmost good faith. If claims are being "inflated" how are people supposed to accurately analyse a business?
And we all know that Chairmen lie. All the time in fact. Just to give the investing public a brighter picture.
When AK reported reduced profits last time, they said next year will be better. Does anyone remember what happened when they announced their next set of results?

GOD BLESS YOUR LIFE
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youcan'tstopusnow
#128 Posted : Saturday, June 04, 2011 7:06:55 PM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
News just in, Eveready says that it inflated its expenses this year and that is why they made a loss
GOD BLESS YOUR LIFE
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the deal
#129 Posted : Saturday, June 04, 2011 7:24:17 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@YCSUN analysing an Insurance firm is no walk in the park...somebody showed me the ropes...so i had to update my info...i standby Jub...i stand by my word on Britak...i even pulled the Britak post from my blog to avoid misleading folks...on banks i only have Eqty Bank...
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youcan'tstopusnow
#130 Posted : Saturday, June 04, 2011 7:32:59 PM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
the deal wrote:
@YCSUN analysing an Insurance firm is no walk in the park...somebody showed me the ropes...so i had to update my info...i standby Jub...i stand by my word on Britak...i even pulled the Britak post from my blog to avoid misleading folks...on banks i only have Eqty Bank...

I agree.
I also agree on your point about float. An insurance company which makes an underwriting loss can still be a great investment! It is what they do with their premiums that matter
GOD BLESS YOUR LIFE
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invest0r
#131 Posted : Sunday, June 05, 2011 10:29:11 AM
Rank: Member


Joined: 12/15/2010
Posts: 162
guru267 wrote:
invest0r wrote:
@guru267, read my concluding remarks properly. To make it clear to you, the chairman’s statement contradicts the auditors report and so it’s prudent to go with the independent auditor’s report that is certified as true and accepted by NSE and CMA.

And note that I have not related the blog and the chairman’s statement in any way.

@investor the problem here is that you and some other wazuans are of the opinion that underwriting profits are always calculated by subtracting net claims and benefits from net premiums.. You and the others have a very long way to go in accounting...

By the way I didnt locate where the auditors talked about jubilees undewriting loss which is contrary to the chairmans statement as you so accuse.. Kindly post the link so that we can close the matter.. Thanx


@guru267, the agreeable documents we should use, in this case, are the audited financial reports that we all have. They are also available in NSE and Jubilee websites

In your closing remarks, pls present the following:

1. Your accounting calculations showing underwriting performance of Jubilee. (like i did in the concluding remarks - post 117)

2. A comparative analysis of the underwriting performance in insurance industry.

Always thankful
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guru267
#132 Posted : Sunday, June 05, 2011 12:52:43 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
invest0r wrote:


@guru267, the agreeable documents we should use, in this case, are the audited financial reports that we all have. They are also available in NSE and Jubilee websites

In your closing remarks, pls present the following:

1. Your accounting calculations showing underwriting performance of Jubilee. (like i did in the concluding remarks - post 117)

2. A comparative analysis of the underwriting performance in insurance industry.

Always thankful

@investor I do my research independently and come up with my own results which I share with wazuans and provide the source of my information... Thats as much as I can do because you can access the same information and deduce your own results..

One of the reasons I believe jub inflated claims was the fact that the notes show that there was no increase in any of fire, medical, life or motor claims in 2010 above 30% over 2009 except for ONE benefit paid to pension fund of 1.9billion as compared to 818million in 2009.. An increase of 158%... That is a striking abnormality and a likely measure to cater for the abnormal growth in fair value gains and revaluations...

This is an exerpt from the annual report..
Pension benefit obligation: to paid in contributions to a seperate trustee administered fund and are charged to the income statement in th year which they relate but the group has no further obligation once contribution is made...

In 2010 jub made abnormal profits and so decided to hike their pension contributions to ensure profit stability and also cushion the company against paying these contributions in recession years..

My expectations in 2011.
1. Fair value gains and revaluations will decline
2. Underwriting profits will rise
3. Investment income will shoot through the roof..
4. EPS should be at least 40bob
5. I expect 75th year celebrations to be marked with a very special dividend and bonus issue to shareholders..
Mark 12:29
Deuteronomy 4:16
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the deal
#133 Posted : Sunday, June 05, 2011 1:13:26 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@guru daamn spot on...you are really good at accounting...in my upcoming blog post i will show you one of the reasons why JUB might have acted that way...yes i expect underwriting profits too.
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the deal
#134 Posted : Sunday, June 05, 2011 4:05:21 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
HERE IS MY RESEARCH REPORT ON BRITAK, I HAVE MENTIONED JUBILEE SEVERAL TIMES AND I was not BIASED I HAD TO GO WITH NUMBERS here.

GO HERE http://contrarianinvesti...-investment-company.html
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invest0r
#135 Posted : Sunday, June 05, 2011 7:17:25 PM
Rank: Member


Joined: 12/15/2010
Posts: 162
@guru267 and @the deal, it’s too bad that when Jubilee makes an underwriting loss you allege that they inflated their claims. It’s even ‘more-bad’ that, @the deal, you call that good accounting.

@the deal, I still respect your work and respect your latest comparative analysis (Britak compared to its peers). I think if you can add the other 2 listed insurance companies it would be better, that is, Pan Africa Insurance and CFC insurance.

Otherwise, muchas gracias all
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the deal
#136 Posted : Sunday, June 05, 2011 7:50:25 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
invest0r wrote:
@guru267 and @the deal, it’s too bad that when Jubilee makes an underwriting loss you allege that they inflated their claims. It’s even ‘more-bad’ that, @the deal, you call that good accounting.

@the deal, I still respect your work and respect your latest comparative analysis (Britak compared to its peers). I think if you can add the other 2 listed insurance companies it would be better, that is, Pan Africa Insurance and CFC insurance.

Otherwise, muchas gracias all

JUB were just aggressive in the process they had to take risky biz but in the process they became the NO 1 insurer in E.A. a good price to pay....analysing an insurer is time consuming.
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guru267
#137 Posted : Sunday, June 05, 2011 8:34:15 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
invest0r wrote:
@guru267 and @the deal, it’s too bad that when Jubilee makes an underwriting loss you allege that they inflated their claims. It’s even ‘more-bad’ that, @the deal, you call that good accounting.

@the deal, I still respect your work and respect your latest comparative analysis (Britak compared to its peers). I think if you can add the other 2 listed insurance companies it would be better, that is, Pan Africa Insurance and CFC insurance.

Otherwise, muchas gracias all


@investor I see you are on a mission to dispute the facts for whatever reason you have... I have tried my very best to show you how companies like jubilee maintain stable income growth.. Instead of learning you turn a blind eye..


So You can enjoy from the sidelines as jubs share price does 1000% by the year 2021 and some of us have ridden an awesome wave...
Mark 12:29
Deuteronomy 4:16
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