Highlights from CIC Group CEO Tom Gitogo at yesterday's trading bell;
The profit warning is due to;
--Capping of interest rates on what banks can lend and offer to depositors has impacted on interest income.
--Bear run on the NSE
--Expenses incurred on key investments they have made like IT systems

The insurance market in kenya is over represented;
-Buyouts and acquisitions key

CIC group facing various challenges.Major challenges are fraud and price undercutting

The group business is being hurt by civil war in South Sudan.The company is though planning to expand there if peace prevails.

Marine insurance has offered a key opportunity growth

Insurers offering life policies are set to post higher 2016 full-year profits boosted by a change in the regulatory requirement in accounting for liabilities.

Some of the revisions have been prompted by the Insurance Regulatory Authority’s (IRA) requirement that all life insurers should prepare their 2016 full-year accounts based on the gross premium valuation (GPV), which analysts say is less conservative compared to the previous net premium valuation (NPV).

http://www.businessdaily...19734-ff8j47/index.html

A retraction on the earlier profit warning issued is coming

DJ spin the disc and continue playing the music we dance.
Leo tuko at 3.90