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KenyaRe FY19 - FY23 (Both Inclusive)
Ebenyo
#601 Posted : Monday, February 22, 2021 4:43:51 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,917
Location: Kitale
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion
Applause Applause Applause Sell and pay a dividend Applause Are there buyers at that price in this market?


The rich Indians from Kisumu or government though the process may take time to conclude.

Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill
There are many rich Luos who can buy it. Applause

Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. Shame on you

The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback.



https://www.businessdail...insurance-plaza-3299332

@vvs.
There you have it;
""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details."

They will not use the proceeds to payout a dividend and highly unlikely stocks.



The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash.
They pushed safaricom to declare an interim dividend.

https://www.businessdail...rastatals-money-3296618
Towards the goal of financial freedom
Ericsson
#602 Posted : Monday, February 22, 2021 5:44:13 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,404
Location: NAIROBI
Ebenyo wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion
Applause Applause Applause Sell and pay a dividend Applause Are there buyers at that price in this market?


The rich Indians from Kisumu or government though the process may take time to conclude.

Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill
There are many rich Luos who can buy it. Applause

Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. Shame on you

The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback.



https://www.businessdail...insurance-plaza-3299332

@vvs.
There you have it;
""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details."

They will not use the proceeds to payout a dividend and highly unlikely stocks.



The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash.
They pushed safaricom to declare an interim dividend.

https://www.businessdail...rastatals-money-3296618

Can't rely on this since they ain't sure they will get a buyer.
Safaricom is a different case since it doesn't have financial regulatory compliances
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#603 Posted : Monday, February 22, 2021 9:06:16 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,416
Location: Nairobi
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion
Applause Applause Applause Sell and pay a dividend Applause Are there buyers at that price in this market?


The rich Indians from Kisumu or government though the process may take time to conclude.

Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill
There are many rich Luos who can buy it. Applause

Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. Shame on you

The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback.



https://www.businessdail...insurance-plaza-3299332

@vvs.
There you have it;
""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details."

They will not use the proceeds to payout a dividend and highly unlikely stocks.



The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash.
They pushed safaricom to declare an interim dividend.

https://www.businessdail...rastatals-money-3296618

Can't rely on this since they ain't sure they will get a buyer.
Safaricom is a different case since it doesn't have financial regulatory compliances

Kenya Re is over-capitalized for the size of its business.
It is earning low returns on its cash (deposits, T-Bills).
The sale of the property is a matter for 2021.
The dividend is for FY2020.

BUT the IRA can block a dividend.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#604 Posted : Tuesday, February 23, 2021 12:23:43 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,404
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion
Applause Applause Applause Sell and pay a dividend Applause Are there buyers at that price in this market?


The rich Indians from Kisumu or government though the process may take time to conclude.

Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill
There are many rich Luos who can buy it. Applause

Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. Shame on you

The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback.



https://www.businessdail...insurance-plaza-3299332

@vvs.
There you have it;
""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details."

They will not use the proceeds to payout a dividend and highly unlikely stocks.



The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash.
They pushed safaricom to declare an interim dividend.

https://www.businessdail...rastatals-money-3296618

Can't rely on this since they ain't sure they will get a buyer.
Safaricom is a different case since it doesn't have financial regulatory compliances

Kenya Re is over-capitalized for the size of its business.
It is earning low returns on its cash (deposits, T-Bills).
The sale of the property is a matter for 2021.
The dividend is for FY2020.

BUT the IRA can block a dividend.



Proceeds is for strategic reinvestment meaning.
What is this strategic investment they want to pursue that they can't use the available cash?
Is is acquisition of a stake in a reinsurer?
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#605 Posted : Thursday, March 04, 2021 12:40:41 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,404
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Ebenyo wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion
Applause Applause Applause Sell and pay a dividend Applause Are there buyers at that price in this market?


The rich Indians from Kisumu or government though the process may take time to conclude.

Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill
There are many rich Luos who can buy it. Applause

Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. Shame on you

The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback.



https://www.businessdail...insurance-plaza-3299332

@vvs.
There you have it;
""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details."

They will not use the proceeds to payout a dividend and highly unlikely stocks.



The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash.
They pushed safaricom to declare an interim dividend.

https://www.businessdail...rastatals-money-3296618

Can't rely on this since they ain't sure they will get a buyer.
Safaricom is a different case since it doesn't have financial regulatory compliances

Kenya Re is over-capitalized for the size of its business.
It is earning low returns on its cash (deposits, T-Bills).
The sale of the property is a matter for 2021.
The dividend is for FY2020.

BUT the IRA can block a dividend.


Properties investment is 31% of their total assets.
This is above the 30% limit.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Elephant Man
#606 Posted : Thursday, March 04, 2021 3:46:44 PM
Rank: Member


Joined: 12/24/2008
Posts: 90
Would prefer that they paid a better dividend for 2020 rather than spending loads of money advertising 50 years in business on billboards around town as if they are manufacturers of some soap or cooking oil or some other FMCG! After all, when does the public walk into their offices to purchase re-insurance?
VituVingiSana
#607 Posted : Thursday, March 04, 2021 5:18:18 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,416
Location: Nairobi
Elephant Man wrote:
Would prefer that they paid a better dividend for 2020 rather than spending loads of money advertising 50 years in business on billboards around town as if they are manufacturers of some soap or cooking oil or some other FMCG! After all, when does the public walk into their offices to purchase re-insurance?
Applause Applause Applause You need to write to the MD! Or the Chairperson. Applause Applause Applause
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#608 Posted : Thursday, March 04, 2021 6:50:40 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,404
Location: NAIROBI
VituVingiSana wrote:
Elephant Man wrote:
Would prefer that they paid a better dividend for 2020 rather than spending loads of money advertising 50 years in business on billboards around town as if they are manufacturers of some soap or cooking oil or some other FMCG! After all, when does the public walk into their offices to purchase re-insurance?
Applause Applause Applause You need to write to the MD! Or the Chairperson. Applause Applause Applause


Laughing out loudly Laughing out loudly
Amekasirika yake yote
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#609 Posted : Thursday, March 04, 2021 7:42:15 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,416
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Elephant Man wrote:
Would prefer that they paid a better dividend for 2020 rather than spending loads of money advertising 50 years in business on billboards around town as if they are manufacturers of some soap or cooking oil or some other FMCG! After all, when does the public walk into their offices to purchase re-insurance?
Applause Applause Applause You need to write to the MD! Or the Chairperson. Applause Applause Applause


Laughing out loudly Laughing out loudly
Amekasirika yake yote
I support @ElephantMan 100%. Pay more in dividends. Or use the "billboard advertising" to reach out and support its clients/staff/brokers.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
watesh
#610 Posted : Friday, March 05, 2021 9:19:26 AM
Rank: Member


Joined: 8/10/2014
Posts: 863
Location: Kenya
Elephant Man wrote:
Would prefer that they paid a better dividend for 2020 rather than spending loads of money advertising 50 years in business on billboards around town as if they are manufacturers of some soap or cooking oil or some other FMCG! After all, when does the public walk into their offices to purchase re-insurance?


Ifikie MD!!!!Applause Applause Applause Applause
Elephant Man
#611 Posted : Monday, March 08, 2021 11:19:53 AM
Rank: Member


Joined: 12/24/2008
Posts: 90
For a re-insurance company that has enjoyed the benefit of compulsory cessions from Gava (i.e. the taxpayer) since its inception, minority shareholders have very little to show other than tiny dividends and the odd bonus here or there (cutting my cake into smaller pieces, then trying to cheat me by saying that I now have more pieces of cake - nkt)!

Advertising on billboards is a pure 'procurement play' - no perceived benefit to Kenya-Re or its shareholders - benefit is to whichever billboard company that they are using. Board and MD are not in the know? Question of competence, if not integrity.

Their CSR (Niko fiti) is towards persons with physical disability. I have no quarrel with that - in fact I fully support it. I just need them to know that right now many of their shareholders are financially disabled!

The share price for this company has underperformed (on a PE basis) it's peers in the industry as well as the market as a whole for many years! So what is there to celebrate about being in business for 50 years?

GoK is suffering without money at the moment so this is the right time that Gava either divests from it or gives it out to 'professional' managers to run, given the paucity of returns from the current bunch at the trough.
VituVingiSana
#612 Posted : Monday, March 08, 2021 12:04:18 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,416
Location: Nairobi
Elephant Man wrote:
For a re-insurance company that has enjoyed the benefit of compulsory cessions from Gava (i.e. the taxpayer) since its inception, minority shareholders have very little to show other than tiny dividends and the odd bonus here or there (cutting my cake into smaller pieces, then trying to cheat me by saying that I now have more pieces of cake - nkt)!

Advertising on billboards is a pure 'procurement play' - no perceived benefit to Kenya-Re or its shareholders - benefit is to whichever billboard company that they are using. Board and MD are not in the know? Question of competence, if not integrity.

Their CSR (Niko fiti) is towards persons with physical disability. I have no quarrel with that - in fact I fully support it. I just need them to know that right now many of their shareholders are financially disabled!

The share price for this company has underperformed (on a PE basis) it's peers in the industry as well as the market as a whole for many years! So what is there to celebrate about being in business for 50 years?

GoK is suffering without money at the moment so this is the right time that Gava either divests from it or gives it out to 'professional' managers to run, given the paucity of returns from the current bunch at the trough.

Applause Applause Applause Someone needs to send this to the board!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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