Where can i find the details?

Operating loss before tax reduced by 92% to KShs 24 Million from KShs 302 Million loss reported in 2015.
Sanlam General's gross written premium grew by 58% to KShs.1 Billion up from KShs. 633 Million in 2015
Sanlam General Insurance is on its way to being the top General Insurance business in the region

Group profit before tax increased from KShs. 54 Million as reported in 2015 to KShs. 317 Million
Group Total assets up by 5% to KShs. 28.4 Billion.
Good performance mainly attributable to improved performance by the General Insurance and investments businesses.

What's with the HUGE tax charges?

2016
PBT = Sh371m
Tax = Sh246m [66%!]
PAT = Sh71m

2015
PBT = Sh54m
Tax = Sh27m [50%]
PAT = Sh27m

i didn't know this company makes loose change profits

With the move to GPV valuation, there has been a huge release in reserves, resulting in the higher tax liability.

I just noticed the same! Hiyo tax rate is crazy. There could be a weird treatment for corporate tax in life insurance.

The insurer, previously known as Pan Africa Holdings, is majority-owned by South African financial services group Sanlam which has a 68 per cent stake.

Stupid reporting by business daily

What is stupid?

Giving wrong figures.
Sanlam holdings owns 58%

Sanlam Group Acquires Majority Stake in PineBridge East Africa

Sanlam Group, through its subsidiary Sanlam Emerging Markets (SEM), has reached an agreement with PineBridge Investments (“PineBridge”), a leading global multi-asset class asset manager, to acquire PineBridge’s majority stake in PineBridge Investments East Africa Limited in Kenya (PIEAL).

The transaction is subject to regulatory approval, following which PIEAL will be rebranded Sanlam Investments East Africa Limited (SIEAL). Sanlam will then look to integrate its asset management businesses in the region.

PIEAL is a leading asset management company in East Africa with operations in Kenya and Uganda, where it is licensed by the Capital Markets Authority and the Retirement Benefits Authority in Kenya and the Ugandan Capital Markets Authority and the Uganda Retirement Benefits Regulatory Authority.

Sanlam Emerging Markets Chief Executive Officer, Mr Junior Ngulube, says the acquisition will increase Sanlam’s asset management presence and capability in the region and enable the Group to build a leading position in institutional, affluent and retail investment management across East Africa.

Mr Anthony King, Regional CEO, EMEA at PineBridge Investments, says: “We looked for a partner in Africa who could best continue to work with our clients on the continent and we are pleased to have been able to complete this transaction with Sanlam. At the forefront of our negotiations was the need to secure a buyer with a strong local heritage in order to maximise future business growth and honour fiduciary, client and employee agreements.”

Mr Ngulube adds that the transaction is expected to unlock synergies that reach beyond asset management. “The existing Sanlam businesses in East Africa will be able to leverage SIEAL’s capabilities. As the business develops, it will provide opportunities to expand geographically and develop other investment products.”
Sanlam Group is one of Africa’s largest financial services providers, with a market capitalization in excess of US$ 11 billion (9 March 2017) and operations in 34 African countries with approximately US $60 billion in assets under management.

Mr Jonathan Stichbury, Chief Executive Officer of PIEAL adds: “Becoming part of the Sanlam Group offers our clients and staff new opportunities. We look forward to working with Sanlam to create value for our clients and continue building the East African business.”

http://kenyanwallstreet....e-pinebridge-east-africa