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Sanlam Kenya FY17
Fyatu
#11 Posted : Saturday, May 05, 2018 1:57:03 PM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
Pesa Nane wrote:
Fyatu wrote:
Pesa Nane wrote:




Included in the operating profit are the results of our life insurance, general insurance, investments, property and loans businesses. The general insurance and loan businesses exceeded the 2016 operating profit levels while the life insurance, investment management and property businesses performance declined. The general insurance business continues to show significant growth and returned to profitability in 2017.



Why is the EPS 0.21d'oh! ? From my basic Wanjiku understanding the EPS should be 0.3684(i.e., 53045000÷144000000). Wazua accountants open my eyes please


Prudence would be to leave it to the wazua accountants as you wished....but meanwhile, consider the PAT less the non-controlling interest (ie Equity holders profit) divided by the number of shares.

PAT: 53,045,000
Less Non-controlling interest of: 22,231,000

Equity holders profit = 30,814,000

EPS = 30,814,000 ÷ 144,000,000 shares = 0.214


Makes sense now...Asante sana
Dumb money becomes dumb only when it listens to smart money
Fyatu
#12 Posted : Saturday, May 05, 2018 1:58:41 PM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
sparkly wrote:
Fyatu wrote:
Pesa Nane wrote:




Included in the operating profit are the results of our life insurance, general insurance, investments, property and loans businesses. The general insurance and loan businesses exceeded the 2016 operating profit levels while the life insurance, investment management and property businesses performance declined. The general insurance business continues to show significant growth and returned to profitability in 2017.



Why is the EPS 0.21d'oh! ? From my basic Wanjiku understanding the EPS should be 0.3684(i.e., 53045000÷144000000). Wazua accountants open my eyes please


Consolidation tings.

Profit attributable to shareholders of the parent/shares of the parent.

If you own 50 percent of company A that owns 50% of company B, you are effectively entitled to 25% of the profits of Company B.


Thanks mate
Dumb money becomes dumb only when it listens to smart money
Ericsson
#13 Posted : Monday, May 07, 2018 1:44:43 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
https://www.businessdail...7784-368mbfz/index.html

Gateway insurance was not a wise acquisition
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#14 Posted : Tuesday, May 08, 2018 10:35:22 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Institutional shareholders form the top ten apart from Baloobhai Patel.
This is what is holding the share price at the current levels
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Wororo
#15 Posted : Wednesday, May 09, 2018 9:05:22 AM
Rank: Member

Joined: 1/30/2011
Posts: 207
Ericsson
#16 Posted : Monday, August 06, 2018 5:15:03 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
https://www.businessdail...0086-vikqpdz/index.html

NSE-listed non-bank financial services firm Sanlam Kenya has named Patrick Tumbo as the company’s group chief executive officer with immediate effect.

Mr Tumbo takes over from Mugo Kibati who left to pursue other interests. George Kuria, the firm's general insurance chief executive officer, has been the acting group CEO for the past six months.

Mr Tumbo joins Sanlam Kenya from Jubilee Insurance where he was the CEO, Kenya. He also served as Jubilee's Group technical head on insurance and reinsurance and on subsidiary boards.

A statement by Sanlam credited Mr Tumbo with growing Jubilee's Kenya business from Sh4 billion to Sh24 billion during his tenure.
“He was also instrumental in driving business growth through technology adoption and widening the client base by venturing into new untapped markets in the East African region,” said the insurer.

Sanlam board chairman, John Simba, said Mr Tumbo will be assuming overall leadership for Sanlam Kenya PLC and the respective group subsidiary business.

“In Mr Tumbo, we have secured a seasoned business leader who we also believe is the right fit to steer the Sanlam Group to new heights. This is part of our corporate strategy to position the group as a formidable non-bank financial services player in Kenya,” said Dr Simba in the statement.

An alumnus of the University of Nairobi, Mr Tumbo holds a Masters of Business Administration degree, specialising in Strategic Management, Marketing and International Business and a Bachelor of Commerce (Insurance option) from the same university.

He started his career as a Management Trainee at Alico Kenya (now AIG Kenya) in the early nineties and went to serve in different positions at Co-operative Insurance Company, PTA Reinsurance (ZEP-Re) and then up to CEO at Jubilee Insurance Company of Kenya Ltd.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Pesa Nane
#17 Posted : Tuesday, August 07, 2018 11:37:43 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c

The Board of Directors, Sanlam Kenya, is pleased to announce the appointment of Mr. Patrick Tumbo as the Group Chief Executive Officer with effect from 2nd August, 2018.

Mr. Tumbo, a Chartered Insurer joins the Sanlam Kenya Group from Jubilee Insurance where he was serving as the CEO, Kenya. With over two decades’ experience in the insurance and re-insurance industry, Mr. Tumbo is well positioned to steer the Sanlam Group to new heights as part of our corporate strategy to position the group as a formidable non-bank financial services player in Kenya.

A member of the Society of Fellows (UK), Mr. Tumbo, is an alumnus of the University of
Nairobi, holds a Masters of Business Administration degree specializing in Strategic Management, Marketing and International Business and a Bachelor of Commerce, Insurance Option from the same university. He has also attended several Leadership, Strategy and advanced management training programs from IESE; Barcelona, Spain, London Business School, Lagos Business School and the Strathmore Business School.

With over 25 years of relevant working experience and career growth, Mr. Tumbo started off as a Management Trainee at Alico Kenya (now AIG Kenya) in the early 90s. In 2015, Mr. Tumbo was honoured with the 'Africa Insurance CEO of the Year Award' by the Africa
Insurance Organisation (AIO).

He brings to the Sanlam Group a rare set of sector acumen, business development and corporate restructuring skills having previously served at AIG Kenya, PTA Reinsurance (ZEP-Re) and CIC insurance.

The board welcomes Mr. Tumbo to Sanlam Kenya and commits to extend him our full support in growing the business.

By Order of the Board.
Dr. John P.N. Simba
Chairman
Pesa Nane plans to be shilingi when he grows up.
VituVingiSana
#18 Posted : Tuesday, August 07, 2018 2:23:28 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
Tumbo must have received a huge bump in remuneration given his jump from Jubilee.
I do not understand why Jubilee picked Kipngetich though.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#19 Posted : Wednesday, August 08, 2018 2:30:50 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Tumbo must have received a huge bump in remuneration given his jump from Jubilee.
I do not understand why Jubilee picked Kipngetich though.


The chairman wanted a lame duck 🦆 ceo whom he can manipulate/will be clueless of the ongoings within Jubilee insurance as he runs the show
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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