https://www.businessdailyafrica.com/corporate/companies/Britam-takes-Sh4bn-hit-from-HF-share-plunge/4003102-4894952-n9vyu6/index.html

Financial services firm Britam has lost nearly Sh4 billion in paper wealth from its recent investment in mortgage financier HF Group
,whose share has sunk to a 15-year low after a turn of poor financial performance.

Britam has a 48.2 per cent stake in HF or 186.2 million shares, which are now valued at Sh1 billion.

In 2014 and 2015, the insurer invested a total of Sh4.7 billion to raise its stake in HF from 21 per cent to 48.8 per cent — but some share sales last year shaved off this to the current 48.2 per cent.

HF’s share price erosion at the Nairobi Securities Exchange (NSE) has forced Britam to impaire (write off) investment worth Sh2.15 billion in the lender from its books, indicating that its management has had little faith in the ability of the bank’s stock to rebound to its previous levels.

What about investors and policyholders whose money was invested there

They can buy more saviette and continue crying in the loos.

Looking at what has happened in the past few months I won’t be surprised if HF “merges” with EQTY or Britam

This was expected. Any fund (even Wanjiku) with heavy exposure to the NSE is going to take a hit on its books for FY 2018