wazua Fri, Mar 29, 2024
Welcome Guest Search | Active Topics | Log In | Register

9 Pages«<56789>
CIC Insurance 2019
Ericsson
#121 Posted : Wednesday, October 21, 2020 8:23:04 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
https://www.businessdail...re-jumps-to-41pc-2485874
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
kmucheke
#122 Posted : Wednesday, October 21, 2020 4:55:31 PM
Rank: Member


Joined: 3/16/2019
Posts: 313
Ericsson wrote:
https://www.businessdailyafrica.com/bd/markets/capital-markets/cic-unit-trust-market-share-jumps-to-41pc-2485874


Quote:
Newcomer Co-op Unit trust grew funds under management from Sh10.83 million to Sh1.16 billion, joining the club of fund managers with over Sh1 billion in funds under management.


I still see Co-op Unit trust as a threat to CIC Unit trust.
Ericsson
#123 Posted : Wednesday, October 21, 2020 6:02:44 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
kmucheke wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/bd/markets/capital-markets/cic-unit-trust-market-share-jumps-to-41pc-2485874


Quote:
Newcomer Co-op Unit trust grew funds under management from Sh10.83 million to Sh1.16 billion, joining the club of fund managers with over Sh1 billion in funds under management.


I still see Co-op Unit trust as a threat to CIC Unit trust.


Still far.
Look at it in absolute numbers not percentage growth.The gap has widened.
Co-op unit trust grew by ksh.1.1bn while CIC grew by ksh.7bn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
kmucheke
#124 Posted : Wednesday, October 21, 2020 8:11:29 PM
Rank: Member


Joined: 3/16/2019
Posts: 313
Ericsson wrote:
kmucheke wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/bd/markets/capital-markets/cic-unit-trust-market-share-jumps-to-41pc-2485874


Quote:
Newcomer Co-op Unit trust grew funds under management from Sh10.83 million to Sh1.16 billion, joining the club of fund managers with over Sh1 billion in funds under management.


I still see Co-op Unit trust as a threat to CIC Unit trust.


Still far.
Look at it in absolute numbers not percentage growth. The gap has widened.
Co-op unit trust grew by ksh.1.1bn while CIC grew by ksh.7bn


True.

But I believe Co-op Unit trust is targeting SACCOs. SACCOs I understand make up the bulk institutional investors in CIC Unit trust. Unless the SACCO market is large for the two players.
heri
#125 Posted : Friday, October 23, 2020 8:39:13 AM
Rank: Member


Joined: 9/14/2011
Posts: 834
Location: nairobi
https://www.businessdail...ash-withdrawals-2571996

The Insurance Regulatory Authority (IRA) reckons in its latest report that job cuts and salary reductions look set to hurt pension and life assurance products, leading to reduced premiums.

“The pandemic has resulted either in redundancies and salary reductions which has a negative impact on pension and life assurance businesses,” said IRA commissioner Godfrey Kitpum.

The cancellations pose a threat to the stability of some insurers in form of lost premiums and squeezed liquidity, with the IRA noting that 20 insurance companies or 35 percent of 56 licensed businesses are in breach of capital adequacy requirements.
Ericsson
#126 Posted : Friday, October 23, 2020 9:40:25 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
heri wrote:
https://www.businessdailyafrica.com/bd/economy/job-cuts-spark-insurance-policy-cash-withdrawals-2571996

The Insurance Regulatory Authority (IRA) reckons in its latest report that job cuts and salary reductions look set to hurt pension and life assurance products, leading to reduced premiums.

“The pandemic has resulted either in redundancies and salary reductions which has a negative impact on pension and life assurance businesses,” said IRA commissioner Godfrey Kitpum.

The cancellations pose a threat to the stability of some insurers in form of lost premiums and squeezed liquidity, with the IRA noting that 20 insurance companies or 35 percent of 56 licensed businesses are in breach of capital adequacy requirements.


FY2020 results due out in Quarter 1 of 2021 and HY2021 results will reveal the effects/impact.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#127 Posted : Monday, November 23, 2020 10:23:26 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
Angelica _ann wrote:
Ericsson wrote:
FUNKY wrote:
Any updates from today's AGM?


There was nothing extraordinary in the agenda.


Land sale has gone through?


They have reverted to sell it slowly aka in plots form after the other deal collapsed.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#128 Posted : Monday, November 23, 2020 10:24:57 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
Queen wrote:
VituVingiSana wrote:
bartum wrote:
Queen wrote:
Ericsson wrote:
Queen wrote:
Ericsson wrote:
Ericsson wrote:
bartum wrote:
Where is this man @pkoli, he understood cic


Half year results will be out within the next two weeks.


HY 2019 results are out.
HY 2020 compared to 2019
Gross written premiums down 3.2% to ksh.9.283bn compared to 9.594bn
Net earned premiums down 0.069% to ksh.7.106bn compared to 7.111bn
Investment and other income down 26% to ksh.1.2bn compared to 1.62bn
Net claims and policy holders up 7.6% to ksh.5.4bn compared to 5.04bn
Loss before tax @ksh.286.54mn
Loss after tax at ksh.335.5mn


HY 2020?

Rectified


Great!

What's great
The rectification


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Funny Wazuans


Q3 they have managed to reduce/narrow the losses
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#129 Posted : Saturday, January 16, 2021 12:44:46 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
Ericsson wrote:
Queen wrote:
VituVingiSana wrote:
bartum wrote:
Queen wrote:
Ericsson wrote:
Queen wrote:
Ericsson wrote:
Ericsson wrote:
bartum wrote:
Where is this man @pkoli, he understood cic


Half year results will be out within the next two weeks.


HY 2019 results are out.
HY 2020 compared to 2019
Gross written premiums down 3.2% to ksh.9.283bn compared to 9.594bn
Net earned premiums down 0.069% to ksh.7.106bn compared to 7.111bn
Investment and other income down 26% to ksh.1.2bn compared to 1.62bn
Net claims and policy holders up 7.6% to ksh.5.4bn compared to 5.04bn
Loss before tax @ksh.286.54mn
Loss after tax at ksh.335.5mn


HY 2020?

Rectified


Great!

What's great
The rectification


Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Funny Wazuans


Q3 they have managed to reduce/narrow the losses


Profit warning missed
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
FUNKY
#130 Posted : Thursday, January 28, 2021 6:21:13 PM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,635
muandiwambeu
#131 Posted : Saturday, January 30, 2021 3:50:21 AM
Rank: Veteran


Joined: 8/28/2015
Posts: 1,247
Profit warning missed
!
FUNKY wrote:
https://kenyanwallstreet.com/cic-insurance-issues-profit-warning/


d'oh!
,Behold, a sower went forth to sow;....
Angelica _ann
#132 Posted : Saturday, January 30, 2021 12:17:43 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,901
I hope the 'profit warning' doesn't impact negatively the performance of the their MMF!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
doubletap
#133 Posted : Saturday, January 30, 2021 12:32:46 PM
Rank: Member


Joined: 7/17/2014
Posts: 132
Location: Wherethewindblows
Angelica _ann wrote:
I hope the 'profit warning' doesn't impact negatively the performance of the their MMF!!!


Thought they are mutually exclusive or are they linked in a way?
You have to learn the rules of the game. And then you have to play better than anyone else - Albert Einstein
winmak
#134 Posted : Saturday, January 30, 2021 8:56:09 PM
Rank: Member


Joined: 12/1/2007
Posts: 537
Location: Nakuru
doubletap wrote:
Angelica _ann wrote:
I hope the 'profit warning' doesn't impact negatively the performance of the their MMF!!!


Thought they are mutually exclusive or are they linked in a way?


Total different revenue streams, different business strategy
For investors as a whole, returns decrease as motion increases ~ WB
Ericsson
#135 Posted : Saturday, January 30, 2021 11:27:57 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
Angelica _ann wrote:
I hope the 'profit warning' doesn't impact negatively the performance of the their MMF!!!


The asset management business is doing well.
The laggards is the life assurance business
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#136 Posted : Tuesday, February 02, 2021 6:24:15 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
doubletap wrote:
Angelica _ann wrote:
I hope the 'profit warning' doesn't impact negatively the performance of the their MMF!!!


Thought they are mutually exclusive or are they linked in a way?


Probably coming year they might reduce the interest rate
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#137 Posted : Wednesday, February 10, 2021 11:33:22 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
muandiwambeu wrote:
Profit warning missed
!
FUNKY wrote:
https://kenyanwallstreet.com/cic-insurance-issues-profit-warning/


d'oh!


They went too deep in buying land and it has come to haunt them.
The cooperative bank loan may be straining their finances.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#138 Posted : Thursday, March 18, 2021 11:54:30 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
muandiwambeu wrote:
Profit warning missed
!
FUNKY wrote:
https://kenyanwallstreet.com/cic-insurance-issues-profit-warning/


d'oh!


Loss of ksh.600mn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#139 Posted : Thursday, March 25, 2021 12:37:25 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
Full year loss before tax ksh
79mn

First half--Loss of ksh.286mn
Second half--Profit of ksh.207mn
FY2020---Loss of 79mn

https://mobile.twitter.c...4972283463303170/photo/1
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
maka
#140 Posted : Friday, March 26, 2021 5:38:44 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
[quote=Ericsson]Full year loss before tax ksh
79mn

First half--Loss of ksh.286mn
Second half--Profit of ksh.207mn
FY2020---Loss of 79mn

https://mobile.twitter.c...972283463303170/photo/1[/quote]


Does this one have hope.. I think it has ever traded at 11.50.... Can it go back there in 5 years?
possunt quia posse videntur
Users browsing this topic
Guest
9 Pages«<56789>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Copyright © 2024 Wazua.co.ke. All Rights Reserved.