UAP Insurance "Gearing for an IPO"

Kenyan General Insurer with operations in Uganda and Sudan

Made up of two divisions:

1. Short term Insurance composed of Motor, Fire and Accidents
2. Long Term Life


5 Year Financial highlights 2005-2009

Gross Premiums Written up up 115%
Gross Premiums Earned up up 99%
Total Income up 83%
Profit Before Income Tax (PBT) down 43%
Profit After Tax (PAT) down 56%
Dividend up 16%
2009 EPS 1.35 VS 2008 EPS 2.34 down 43%
2009 Investment Income over 2008 up 33%

Number of Issued Shares 120 000000

Total Equity Ksh 3.4 Billion
Book Value Per Share Ksh 28.70
Price based on EPS of 1.35 (2009) Ksh 13.50 at a PE of 10
Price to Book Value 0.47

At 31 December 2009, the top ten shareholders in the Company were:
No. of Holding
Shares %
1. Bawan Limited 42,834,276 35.70%
2. Centum Investment Company Limited 29,070,637 24.23%
3. CJ Kirubi 20,172,721 16.81%
4. JN Muguiyi 12,604,547 10.50%
5. WK Martin 3,495,480 2.91%
6. ASG Smith 1,765,811 1.47%
7. TMJ Owen-Burke 1,367,062 1.14%
8. Sayani Investments 1,194,957 1.00%
9. Kikagi Limited 1,054,505 0.88%
10. Joseph Kiplangat Lesiew 940,098 0.78%

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