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CIC Insurance 1H16
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Aguytrying
#11 Posted : Saturday, July 30, 2016 5:10:06 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
bartum wrote:
I visited a certain hospital, had a chat with with a guy in cash office, I told him I wanted to take medical insurance with my family with CIC, I was shocked when he said don't try that, he preffered jubilee or resolution insurance,


Sadly this is true. From a friend. Their medical insurance doesn't pay or takes too long. Remember the year they had a medical insurance loss. As a result some hospitals do not like dealing with them.
The investor's chief problem - and even his worst enemy - is likely to be himself
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Spikes
#12 Posted : Saturday, July 30, 2016 6:23:55 PM
Rank: Elder

Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
Aguytrying wrote:
bartum wrote:
I visited a certain hospital, had a chat with with a guy in cash office, I told him I wanted to take medical insurance with my family with CIC, I was shocked when he said don't try that, he preffered jubilee or resolution insurance,


Sadly this is true. From a friend. Their medical insurance doesn't pay or takes too long. Remember the year they had a medical insurance loss. As a result some hospitals do not like dealing with them.



A friend of mine lost a probox. She was denied compensation by CIC on flimsy argument that the driver was negligent. CIC is run like a kiosk!
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Angelica _ann
#13 Posted : Saturday, July 30, 2016 7:21:38 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
@maka 3.5 Bob coming soon
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Ericsson
#14 Posted : Sunday, July 31, 2016 12:04:51 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
The insurer expanded rapidly without putting the necessary systems for checks and balances to avoid fraud.
Now is when they are putting them hence having problems with hospitals due to delayed payments.
I would like to see their balance sheet as as half year 2016 to see that loss in other comprehensive income
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Bachuma Gate
#15 Posted : Sunday, July 31, 2016 8:41:25 PM
Rank: Member

Joined: 3/26/2012
Posts: 280
Anyone dealt with Saham Insurance in terms of their medical cover? Let's be our brothers' keeper.
DOH
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Pesa Nane
#16 Posted : Sunday, July 31, 2016 10:27:44 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Ericsson wrote:
The insurer expanded rapidly without putting the necessary systems for checks and balances to avoid fraud.
Now is when they are putting them hence having problems with hospitals due to delayed payments.
I would like to see their balance sheet as as half year 2016 to see that loss in other comprehensive income

Interim results = scanty info
Pesa Nane plans to be shilingi when he grows up.
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Gatheuzi
#17 Posted : Monday, August 01, 2016 7:13:41 AM
Rank: Veteran

Joined: 8/16/2009
Posts: 994
Bond Holders earnings on interest of 325M almost at par with shareholders net earnings of 367M.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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DBLyon
#18 Posted : Monday, August 01, 2016 11:06:02 AM
Rank: Member

Joined: 5/28/2014
Posts: 149
Location: Nairobi
My cynical take on the report that said CiC "claims incurred declined by 26%...an indication of improvement of quality of business": sure claims incurred will decline if you are not honoring your commitments to pay claims.
When you live for others' opinions, you are dead.

- Carlos Slim Helu
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DBLyon
#19 Posted : Monday, August 01, 2016 11:08:29 AM
Rank: Member

Joined: 5/28/2014
Posts: 149
Location: Nairobi
DBLyon wrote:
My cynical take on the report that said CiC "claims incurred declined by 26%...an indication of improvement of quality of business": sure claims incurred will decline if you are not honoring your commitments to pay claims.


...yet the price will rise today. The information the common investor has access to is severely limited.
When you live for others' opinions, you are dead.

- Carlos Slim Helu
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Ericsson
#20 Posted : Monday, August 01, 2016 11:26:57 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
The decline in investment income is due to low interest rate on government securities and decline in stock market value.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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