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Kenya Re - 2018 and beyond
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Ericsson
#21 Posted : Monday, March 12, 2018 6:55:38 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
obiero wrote:
VituVingiSana wrote:
Hmmm, if Mugo Kibati comes in as MD then it might look interesting but is there a political power play as @Ericsson suggested?

Look at how KPLC was financially decimated since the last Rights Issue by the former & current management.

I will wait for the FY 2017 results BUT for all practical purposes, I might start bailing out at a discount to NAV or even a loss.

What KenRe needs is a STRATEGIC INVESTOR who takes over the management reins and keeps GoK/politics at bay.

In the long run managements stressing accounting appearance over economic substance usually achieve little of either - Warren Buffett

It's got to be a business with fundamentally good economics. It's got to be a management that I like and trust and admire. And it's got to be a price that makes sense. - Warren Buffett


Mugo Kibati has too much brain power for such a company.. He should be tapped for better things


Mugo Kibati can't work under Kemei.It will be constant war
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Ericsson
#22 Posted : Monday, March 12, 2018 10:32:10 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
https://www.businessdail...8832-4xp5ttz/index.html

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murchr
#23 Posted : Monday, March 12, 2018 11:23:41 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Ericsson wrote:
https://www.businessdailyafrica.com/corporate/companies/Sacked-Kenya-Re-boss-says-no-reason-given-for-sudden-dismissal/4003102-4338832-4xp5ttz/index.html



He should go to court. These Nyayo error antics should be a thing of the past.

When are they announcing the results?
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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VituVingiSana
#24 Posted : Tuesday, March 13, 2018 12:25:19 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
There was a disagreement between the chairman and the CEO Mwarania.
The chairman wanted to show the CEO who the boss is and decided to fire the CEO without consultation from the other board members.
Let's see how things go and if Kemei decides to put a person from his backyard i would advise anyone owning shares to run away very fast.

IMHO, Kemei is the one who should be fired but who is the DP and CS Finance?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#25 Posted : Tuesday, March 13, 2018 4:47:13 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
There was a disagreement between the chairman and the CEO Mwarania.
The chairman wanted to show the CEO who the boss is and decided to fire the CEO without consultation from the other board members.
Let's see how things go and if Kemei decides to put a person from his backyard i would advise anyone owning shares to run away very fast.

IMHO, Kemei is the one who should be fired but who is the DP and CS Finance?

@vvs
Retaliation by Ruto people for sacking Koros.

The merus will now retaliate against DP
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Mtafiti
#26 Posted : Tuesday, March 13, 2018 7:22:24 AM
Rank: Member

Joined: 5/22/2014
Posts: 321
Location: Ndeiya
Don't run away as yet. Could be too early. But why they had to kick him after petitioning the government for a 50% mandatory treaty cessions in Kenya's insurance business is unclear.
Again, that position looks jinxed after PK....3 in a row.
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VituVingiSana
#27 Posted : Tuesday, March 13, 2018 9:15:44 AM
Rank: Chief

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Posts: 18,346
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Mtafiti wrote:
Don't run away as yet. Could be too early. But why they had to kick him after petitioning the government for a 50% mandatory treaty cessions in Kenya's insurance business is unclear.
Again, that position looks jinxed after PK....3 in a row.

He was MD for almost 7 years BUT there's something fishy as @Ericsson put it. I think it's less about retaliation [re: Koros] but the cash/contracts/construction.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#28 Posted : Tuesday, March 13, 2018 9:20:42 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Mtafiti wrote:
Don't run away as yet. Could be too early. But why they had to kick him after petitioning the government for a 50% mandatory treaty cessions in Kenya's insurance business is unclear.
Again, that position looks jinxed after PK....3 in a row.

He was MD for almost 7 years BUT there's something fishy as @Ericsson put it. I think it's less about retaliation [re: Koros] but the cash/contracts/construction.


@vvs
Cash and construction they need to have one of their own in the management.
Unfortunately Kemei doesn't have one of his own.
For KNH it was followed procedurally since it was the minister who pulled the trigger.
As at now it's more of retaliation because the MPs from Koros backyard wanted to impeach the Health CS but the DP stopped them.
For cash and construction we wait to see.
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Mtafiti
#29 Posted : Tuesday, March 13, 2018 9:31:41 AM
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Joined: 5/22/2014
Posts: 321
Location: Ndeiya
The pronounced reason could be the recent downgrading of rating from B+ to B. The rating agency cited ERM issues. Of course, this portends to a ruined future. But with their mandatory cessions, they are relatively safe.
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VituVingiSana
#30 Posted : Tuesday, March 13, 2018 10:14:27 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Mtafiti wrote:
Don't run away as yet. Could be too early. But why they had to kick him after petitioning the government for a 50% mandatory treaty cessions in Kenya's insurance business is unclear.
Again, that position looks jinxed after PK....3 in a row.

He was MD for almost 7 years BUT there's something fishy as @Ericsson put it. I think it's less about retaliation [re: Koros] but the cash/contracts/construction.


@vvs
Cash and construction they need to have one of their own in the management.
Unfortunately Kemei doesn't have one of his own.
For KNH it was followed procedurally since it was the minister who pulled the trigger.
As at now it's more of retaliation because the MPs from Koros backyard wanted to impeach the Health CS but the DP stopped them.
For cash and construction we wait to see.

CS Health is Sicily Kariuki... isn't she Kikuyu not Meru?
It saddens me that tribalism not merit is the reason for many appointments.

https://www.businessdail...8832-4xp5ttz/index.html

“I reported to work as usual and was told to leave by the chairman of the board,” Mr Mwarania said in an interview moments after his departure was announced by the Kenya Re through the Nairobi Securities Exchange (NSE).


If this was NOT a board [vs chairman] decision then Mwarania can (& should( sue for wrongful dismissal.

What a clusterf**k for the only GoK controlled firm I have shares in. I should have stuck with ZERO... And I think I am headed that way.
I sold off my KQ, KPLC, KenGen, etc after what happened at KQ and KPLC.

Mwarania was competent and ran KenRe profitably, even if conservatively, and I liked that.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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