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Kenya Re FY 2018
VituVingiSana
#21 Posted : Wednesday, March 27, 2019 2:06:44 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
the deal wrote:
Pray for @vvs...his windfall from KK is getting wiped out here...stock market will humble you Laughing out loudly Laughing out loudly Laughing out loudly

Losing my shirt on I&M after the FY 2018 results were released.
It's too hot to touch as it jumped from the 95 to 110 today.
Laughing out loudly Laughing out loudly Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#22 Posted : Wednesday, March 27, 2019 2:25:29 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
FY results are being released when @vvs?
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#23 Posted : Wednesday, March 27, 2019 2:56:30 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
Ericsson wrote:
FY results are being released when @vvs?
Investor Briefing 29th but the release/publication may be on 28th after-hours.
I like firms that release results BEFORE the briefings so time is spent discussing the results and not looking at powerpoint slides.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Superprime1
#24 Posted : Wednesday, March 27, 2019 10:55:20 PM
Rank: Member

Joined: 5/2/2018
Posts: 267
murchr wrote:
Superprime1 wrote:
murchr wrote:
Did they get rid of that Arap mashamba proxy?

Nope. One can kinda read his machinations in the FY 2018 performance primed to rid of Mwarania proper and square...



Mmh! When is Mwirania's contract ending?

Should be 2021.
Superprime1
#25 Posted : Friday, March 29, 2019 9:07:10 AM
Rank: Member

Joined: 5/2/2018
Posts: 267
36.3% drop in net profit to Sh2.28bn vs Sh3.58bn in 2017.

Dividend slashed yo Sh0.45, 47% down.
Ericsson
#26 Posted : Friday, March 29, 2019 9:21:08 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Superprime1 wrote:
36.3% drop in net profit to Sh2.28bn vs Sh3.58bn in 2017.

Dividend slashed yo Sh0.45, 47% down.


Kenya Re recorded a 32% drop in pre-tax profit, to record Ksh. 3.104 billion profit before tax compared to Ksh. 4.558 billion the year 2017. Profit after tax declined by 36% from ksh 3.577 billion to ksh 2.278 billion. "

Profits decline is due to 64% profits drop of the investment in Zep Re, Increase in claims reserves, Forex loss in Sudan due to currency devaluation and lower investment property value appreciation.

FY Gross premiums written 14.838393b vs. 14.827296b +0.075%
FY Less retrocession premiums [823.408m] vs. [547.481m] -50.399%
FY Net earned premiums 14.205976b vs. 13.679576b +3.848%
FY Investment income 3.386177b vs. 3.165314b +6.978%
FY Fair value gains on revaluation of investment properties 397.211m vs. 672.077m -40.898%
FY Total income 18.266334m vs. 18.189734b +0.421%
FY Gross claims incurred and policyholder benefits [9.456217b] vs. [8.110686b] +16.590%
FY Reinsurer share of claims and policyholder benefits 625.967m vs. 512.144m +22.225%
FY Net claims and benefits [8.830250b] vs. [7.598542b] +16.210%
FY Cedant acquisition costs [3.890255b] vs. [3.928700b] -0.979%
FY Operating and other expenses [2.019834b] vs. [1.709036b] +18.186%
FY Provision for doubtful debts [424.145m] vs. [394.905m] +7.404%
FY Total claims, benefits and other expenses [15.164484b] vs. [13.631183b] +11.248%
FY Profit before tax 3.101850b vs. 4.558551b -31.955%
FY Profit for the year 2.278282b vs. 3.577340b -36.314%
EPS (Basic and diluted) 3.25 vs. 5.11 -36.399%
Dividend per share 0.45 vs. 0.85 -17.059%
Total Equity 28.373033b vs. 27.205084b +4.293%
Government securities 14.314752b vs. 14.562840b -1.704%
Total Assets 44.362634b vs. 42.732667b +3.814%
Cash and cash equivalents at 31st December 5.797260b vs. 3.635590b +59.459%
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#27 Posted : Friday, March 29, 2019 9:22:38 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Ericsson wrote:
Pesa Nane wrote:


Unexpected income reduction from an associate--This is Zep Re

Forex losses due to currency devaluations in some of our markets--Sudan


As predicted and it has come to pass.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
sparkly
#28 Posted : Friday, March 29, 2019 10:27:00 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Ericsson wrote:
Ericsson wrote:
Pesa Nane wrote:


Unexpected income reduction from an associate--This is Zep Re

Forex losses due to currency devaluations in some of our markets--Sudan


As predicted and it has come to pass.


Waah but at least it's a profit.

Good perfomance does not excite the stock, adverse perfomance massacres it. I feell trapped.

@VVS say something.
Life is short. Live passionately.
VituVingiSana
#29 Posted : Friday, March 29, 2019 1:32:45 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
sparkly wrote:
Ericsson wrote:
Ericsson wrote:
Pesa Nane wrote:


Unexpected income reduction from an associate--This is Zep Re

Forex losses due to currency devaluations in some of our markets--Sudan


As predicted and it has come to pass.


Waah but at least it's a profit.

Good perfomance does not excite the stock, adverse perfomance massacres it. I feell trapped.

@VVS say something.

Patience. Why stress about it?
Not every year can be very good or growing. Consolidation. New systems being introduced. Lots of cash.
Yes, my primary concern is GoK's control and ownership. It seems the fights in the boardroom continue unabated.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#30 Posted : Friday, March 29, 2019 1:35:30 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
sparkly wrote:
Ericsson wrote:
Ericsson wrote:
Pesa Nane wrote:


Unexpected income reduction from an associate--This is Zep Re

Forex losses due to currency devaluations in some of our markets--Sudan


As predicted and it has come to pass.


Waah but at least it's a profit.

Good perfomance does not excite the stock, adverse perfomance massacres it. I feell trapped.

@VVS say something.

Patience. Why stress about it?
Not every year can be very good or growing. Consolidation. New systems being introduced. Lots of cash.
Yes, my primary concern is GoK's control and ownership. It seems the fights in the boardroom continue unabated.


Open offer is it still on the pipeline?
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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