Seems folks have fallen in love with CIC. Any negative mention is overreacted to. Reminds me of the days when Equity was equally defended.

@techboy, kindly cool down.
I, just as majority of wazuans, agree that brokers recommendations are at times (if not all) CRAP, but on this CIC thing, i concur, its not worth anything above 3.70/-.

The insurance industry is the last place I would invest. The entire industry 43 companies makes only 7-9 billion in profits compared to the banks 100 billion. There is low penetration with most individuals and companies only buying motor, fire, personal accident and group medical cover. Any insurance company doing group medical cover is just bleeding itself because the claims are huge. The kenya population has a bad attitude towards insurance and the prefer "tunaomba serikali.." plus a bad savings culture.

I had tried to speculate with CFCI/liberty last year until I realized they preferred to keep 3 billion in cash, owed a huge loan to NIC and the MD was talking about investing in real estate when the stock market was down

Investors are always advised not to invest in a business they dont understand.

Tape reading tells me Kenya Re is facing strong resistance at the current level of 12.00/50. @hisah and other TAs, is there a likelihood of this resistance being broken in near term