Cash reserve is so healthy

Yes.because many claims have been already settled.

Whereas I do hope they maintain the dividend given they have the cash but I am not as optimistic as you are that they can make the same cash PAT for FY2021 as for FY2020.

Claims are still coming through with COVID.

Where did you read that?
I think most of their business out of Zambia is in "southern Africa" ex-SA.

Agreed.

"We have placed turnaround strategies in addition to the strategies articulated in our 2017-2021 business strategy plan to address the challenges that we identified in the year 2021."

https://www.standardmedi...robi-dip-by-27-per-cent

Land and property prices in Nairobi and it's environs are self-correcting due to market forces with a report revealing a drop of upto 27%.

A recent Macro Strategy Report published by EFG Hermes, a financial service company, which analysed land prices in the high-end market segment, upper-middle and satellite towns found that the pricing was significantly lower in the first quarter of 2021 compared to the past four years.

It notes that prices of residential and commercial property in Nairobi’s satellite towns have dipped since quarter four of 2019. “Could this represent the early signs of a deeper correction in high-end property prices?” posed the report.

The report says the property market in the country is overvalued, noting that the Covid-19 pandemic has seen distressed properties sale for less than their initial valuation.

The survey notes that the current land prices in the high-end segment are significantly lower than their peak levels over the past four years. “Notably, Quarter One (Q1) of 2021 land prices in Runda were 27 per cent below their recent peaks in Q4 of 2017,” reads the report in part.

“In the middle-income segment, current land prices are also lower than their peak levels over the past four years, but not by as much as the high-end segment.”

Prices in Runda have dropped way below the initial prices in Q4 of 2014. The report notes that while current land prices in Parklands and Westlands have changed from their peak levels over the past four years, current land prices in Upper Hill - Nairobi’s most expensive suburb are 13 per cent below their peaks in Q4 2017.

“Donholm stands out within the other segment for being the only suburb that has continued to see its land prices materially appreciate since Q4 2017,” noted the survey.

The report says on the performance of suburb land prices in Nairobi, between Q4 2017 and Q1 of 2021 all have underperformed the Consumer Price Index (CPI) which is 20 per cent.

“This has to be concerning for the outlook of the property market in Nairobi’s suburbs,” it reads.

https://www.businessdail...kisumu-property-3595824

Kenya Re will launch a fresh bid to sell its Reinsurance Plaza building in Kisumu before the end of the year.

The firm's earnings could be boosted if significant gains are realised from the sale.
During the half year results it reported a 64% drop in profits.
Property portfolio constitutes 27% of its total investments.

100% true they need to be realistic.
And with falling rental yields, the valuations have to be adjusted downwards.
They still haven't breached the 30% mark of investment in property, why can't they wait till market recovers to sell the property.

Operational challenges of 2021
-Slowdown in collecting premiums
-An increase in claims in certain lines of businesses.Certsin claims under policies which needs to be accommodated which resulted in claims costs going up.

Investment side;
-Slowdown in returns that they earn from investments such as bank deposits and other vehicles of investment.
-On the rental side of things,Kenya Re being a landlord.The market rates have had to go down.Things like escalation clauses on contracts have had to be removed or at least frozen for the time being.
A hit in the bottom line in terms of profitability.