Wazua
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KenyaRe FY19 - FY23 (Both Inclusive)
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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VituVingiSana wrote:Ebenyo wrote:VituVingiSana wrote:New date in my head is 15 May 2021.
And ready to extend it to 30 May 2021.
At least the AGM can be held "early" since they do not need to rent/hire Bomas/KICC since the AGM will be virtual. No need to plan for tents, gifts, food, etc for 1000s of shareholders.
I hope they announce a dividend but given COVID I am not banking on it anymore. If they do, pay it out pap! Last year results was released on 28th March.I wonder why it has taken so long this time.The squabble in the board concerning Mwarania seems not to be over. COVID? New Auditor General? New Auditor General dealing with backlog that occurred when the office was vacant. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Ebenyo wrote:VituVingiSana wrote:New date in my head is 15 May 2021.
And ready to extend it to 30 May 2021.
At least the AGM can be held "early" since they do not need to rent/hire Bomas/KICC since the AGM will be virtual. No need to plan for tents, gifts, food, etc for 1000s of shareholders.
I hope they announce a dividend but given COVID I am not banking on it anymore. If they do, pay it out pap! Last year results was released on 28th March.I wonder why it has taken so long this time.The squabble in the board concerning Mwarania seems not to be over. Remember last year they were given leeway to release unaudited FY results but couldn't pay dividends till the financial statements were audited by the Auditor General. Dividend was paid in November. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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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  Sell and pay a dividend 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. Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL.  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. Property portfolio is more than 30% of its total assets. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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VituVingiSana wrote:Ebenyo wrote:VituVingiSana wrote:New date in my head is 15 May 2021.
And ready to extend it to 30 May 2021.
At least the AGM can be held "early" since they do not need to rent/hire Bomas/KICC since the AGM will be virtual. No need to plan for tents, gifts, food, etc for 1000s of shareholders.
I hope they announce a dividend but given COVID I am not banking on it anymore. If they do, pay it out pap! Last year results was released on 28th March.I wonder why it has taken so long this time.The squabble in the board concerning Mwarania seems not to be over. COVID? New Auditor General? Delay in releasing the FY results causing a slump in share price Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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VituVingiSana wrote:Ebenyo wrote:VituVingiSana wrote:New date in my head is 15 May 2021.
And ready to extend it to 30 May 2021.
At least the AGM can be held "early" since they do not need to rent/hire Bomas/KICC since the AGM will be virtual. No need to plan for tents, gifts, food, etc for 1000s of shareholders.
I hope they announce a dividend but given COVID I am not banking on it anymore. If they do, pay it out pap! Last year results was released on 28th March.I wonder why it has taken so long this time.The squabble in the board concerning Mwarania seems not to be over. COVID? New Auditor General? Delay is due to change in actuarial valuation methodology in respect to Unearned Premium Reserves and claims reserves to an approach recommended by Insurance Regulatory Authority of Kenya. This was to ensure regulatory compliance in reserving for both unearned premiums and claims by the corporation. Every effort is being exerted to have the results released before 31 May 2021. https://mobile.twitter.c...2009163862155265/photo/1Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:Ebenyo wrote:[quote=VituVingiSana]New date in my head is 15 May 2021.
And ready to extend it to 30 May 2021.
At least the AGM can be held "early" since they do not need to rent/hire Bomas/KICC since the AGM will be virtual. No need to plan for tents, gifts, food, etc for 1000s of shareholders.
I hope they announce a dividend but given COVID I am not banking on it anymore. If they do, pay it out pap! Last year results was released on 28th March.I wonder why it has taken so long this time.The squabble in the board concerning Mwarania seems not to be over. COVID? New Auditor General? Delay is due to change in actuarial valuation methodology in respect to Unearned Premium Reserves and claims reserves to an approach recommended by Insurance Regulatory Authority of Kenya. This was to ensure regulatory compliance in reserving for both unearned premiums and claims by the corporation. Every effort is being exerted to have the results released before 31 May 2021. https://mobile.twitter.c...009163862155265/photo/1[/quote] 31st May 2021 it is. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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AM Best Credit Ratings agency says although Kenya Re has not yet released financial results for year-end 2020, it anticipates that underwriting performance will have improved materially compared with the prior year, when the company reported a combined ratio of 117.5%. Am Best says outside Kenya where it gets compulsory 20% cession of business from local insurers, its competitive position is significantly weaker in other markets. Am Best says outside Kenya where it gets compulsory 20% cession of business from local insurers, its competitive position is significantly weaker in other markets. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ebenyo wrote:[quote=VituVingiSana]New date in my head is 15 May 2021.
And ready to extend it to 30 May 2021.
At least the AGM can be held "early" since they do not need to rent/hire Bomas/KICC since the AGM will be virtual. No need to plan for tents, gifts, food, etc for 1000s of shareholders.
I hope they announce a dividend but given COVID I am not banking on it anymore. If they do, pay it out pap! Last year results was released on 28th March.I wonder why it has taken so long this time.The squabble in the board concerning Mwarania seems not to be over. COVID? New Auditor General? Delay is due to change in actuarial valuation methodology in respect to Unearned Premium Reserves and claims reserves to an approach recommended by Insurance Regulatory Authority of Kenya. This was to ensure regulatory compliance in reserving for both unearned premiums and claims by the corporation. Every effort is being exerted to have the results released before 31 May 2021. https://mobile.twitter.c...009163862155265/photo/1[/quote] 31st May 2021 it is. Kenya Re is waiting for greenlight from its auditors EY to release the results Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Ebenyo wrote:Last year the dividend was 0.10.
They can afford 0.20 this year. With the way FY2020 results have delayed,I project no change in dividend Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/4/2016 Posts: 2,016 Location: Kitale
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Ericsson wrote:Ebenyo wrote:Last year the dividend was 0.10.
They can afford 0.20 this year. With the way FY2020 results have delayed,I project no change in dividend I thought the deadline was today.So it seems it will take longer. Towards the goal of financial freedom
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