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Kenya Re - 2018 and beyond
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VituVingiSana
#1 Posted : Monday, March 12, 2018 9:53:22 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
To start with it seems like the MD (Jadiah Mwarania) was fired after the terse notice from KenyaRe to the NSE.

https://twitter.com/BD_A...tatus/973083120147759104
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#2 Posted : Monday, March 12, 2018 10:24:04 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
[quote=VituVingiSana]To start with it seems like the MD (Jadiah Mwarania) was fired after the terse notice from KenyaRe to the NSE.

https://twitter.com/BD_A...atus/973083120147759104[/quote]

@vvs
He had become lacklustre of late,not so much positive news was being heard from the firm.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#3 Posted : Monday, March 12, 2018 10:51:39 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
I am re-evaluating my holdings in KenRe.
I had trust in Mwarania.

My only GoK holding [where GoK has a substantial influence/control]...
[Safaricom is (thankfully) controlled by Vodafone and not GoK]
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Monday, March 12, 2018 11:41 AM | Reason: Not specified
Pesa Nane
#4 Posted : Monday, March 12, 2018 11:54:26 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
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iris
#5 Posted : Monday, March 12, 2018 12:11:57 PM
Rank: Member

Joined: 9/11/2014
Posts: 228
Location: Nairobi
Ericsson wrote:
[quote=VituVingiSana]To start with it seems like the MD (Jadiah Mwarania) was fired after the terse notice from KenyaRe to the NSE.

https://twitter.com/BD_A...atus/973083120147759104[/quote]

@vvs
He had become lacklustre of late,not so much positive news was being heard from the firm.


@Ericsson, does GOK fire due to "lacklustre" performance? I am with @vvs on this. It just might be one of the few remaining GOK-owned institutions with a stash of cash that someone wants to lay their hands on. Hope I am wrong
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Horton
#6 Posted : Monday, March 12, 2018 12:19:50 PM
Rank: Veteran

Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
VituVingiSana wrote:
I am re-evaluating my holdings in KenRe.
I had trust in Mwarania.

My only GoK holding [where GoK has a substantial influence/control]...
[Safaricom is (thankfully) controlled by Vodafone and not GoK]



This was one reason I hadn’t invested here. I felt he was too comfortable and the poor 8-13% growth for a company that had:
a. Such a large market share
b. Compulsory concessions


Hope they get someone with ideas
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VituVingiSana
#7 Posted : Monday, March 12, 2018 1:00:49 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Horton wrote:
VituVingiSana wrote:
I am re-evaluating my holdings in KenRe.
I had trust in Mwarania.

My only GoK holding [where GoK has a substantial influence/control]...
[Safaricom is (thankfully) controlled by Vodafone and not GoK]



This was one reason I hadn’t invested here. I felt he was too comfortable and the poor 8-13% growth for a company that had:
a. Such a large market share
b. Compulsory concessions


Hope they get someone with ideas

I doubt he was fired for the 8-13% growth. Slow and steady.
Chairman: David Kemei appointed to the board in 2014, chairman in 2015
https://www.kenyare.co.k...-non-executive-director
https://www.businessdail...7532-om9cllz/index.html
Any connections to the DP?
The cash that Kenya Re has could be misused to buy land from politicians.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Monday, March 12, 2018 1:10 PM | Reason: Not specified
Ericsson
#8 Posted : Monday, March 12, 2018 1:10:59 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Horton wrote:
VituVingiSana wrote:
I am re-evaluating my holdings in KenRe.
I had trust in Mwarania.

My only GoK holding [where GoK has a substantial influence/control]...
[Safaricom is (thankfully) controlled by Vodafone and not GoK]



This was one reason I hadn’t invested here. I felt he was too comfortable and the poor 8-13% growth for a company that had:
a. Such a large market share
b. Compulsory concessions


Hope they get someone with ideas

I doubt he was fired for the 8-13% growth. Slow and steady.
Chairman: David Kemei appointed to the board in 2014, chairman in 2015
https://www.kenyare.co.k...-non-executive-director
https://www.businessdail...7532-om9cllz/index.html
Any connections to the DP?
The cash that Kenya Re has could be misused to buy land from politicians.


We wait to see how the saga/fiasco goes.
Definitely Kemei is a DP confidante.
Maybe it's a revenge to the KNH CEO dismissal.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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WWW
  | | Edit by user: Monday, March 12, 2018 1:13 PM | Reason: Not specified
VituVingiSana
#9 Posted : Monday, March 12, 2018 1:26:51 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Horton wrote:
VituVingiSana wrote:
I am re-evaluating my holdings in KenRe.
I had trust in Mwarania.

My only GoK holding [where GoK has a substantial influence/control]...
[Safaricom is (thankfully) controlled by Vodafone and not GoK]



This was one reason I hadn’t invested here. I felt he was too comfortable and the poor 8-13% growth for a company that had:
a. Such a large market share
b. Compulsory concessions


Hope they get someone with ideas

I doubt he was fired for the 8-13% growth. Slow and steady.
Chairman: David Kemei appointed to the board in 2014, chairman in 2015
https://www.kenyare.co.k...-non-executive-director
https://www.businessdail...7532-om9cllz/index.html
Any connections to the DP?
The cash that Kenya Re has could be misused to buy land from politicians.


We wait to see how the saga/fiasco goes.
Definitely Kemei is a DP confidante.
Maybe it's a revenge to the KNH CEO dismissal.
Ridiculous to fire a performing CEO on such (flimsy, political) grounds while there are 10s of non-performers in various GoK institutions.
I prefer GoK not being in the business of Business.

Expect Mwarania to sue.
Kiuna [TransCentury]
Ciano [Uchumi]
Kareithi [Olympia]
Even a crook like Mbugua [KQ]
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Angelica _ann
#10 Posted : Monday, March 12, 2018 1:40:55 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
The current position of the acting appointment individual vs insurance business doesn't bring confidence to growth of the institution.
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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