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Sanlam Kenya FY17
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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  Included in the operating profit are the results of our life insurance, general insurance, investments, property and loans businesses. The general insurance and loan businesses exceeded the 2016 operating profit levels while the life insurance, investment management and property businesses performance declined. The general insurance business continues to show significant growth and returned to profitability in 2017. Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Quote:Dividends
The introduction of the new Risk Based Capital regime in 2020 will significantly increase the capital requirement for the Group’s life and general
insurance businesses. This is over and above the impact of the revised guidelines on valuations of technical provisions for the life business on the back of the high prescribed margins used for reserving. The Board of Directors will not be recommending the payment of a dividend for the year ended 2017 (2016: Nil) at the forthcoming Annual General Meeting scheduled for Thursday 10th May 2018.
Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Quote:Changes of Directors
Wikus Olivier resigns from the Boards of Sanlam Kenya Plc and Sanlam Life Insurance Limited to take up other roles within the wider Sanlam Group.
Mr Olivier was apponited a director on 16th May 2014 and also served as a member of the Audit Committee. The Board of Directors thanks Mr Olivier
for his contribution to the growth of the business and wishes him the best in his future endeavours.
Mugo Kibati resigned as the Sanlam Kenya Group
CEO to pursue personal and professional interests. The Board remains grateful to Mr. Kibati for his dedicated service to Sanlam Kenya, having assumed
the Group leadership role from February 2015. Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Rank: Chief Joined: 1/3/2007 Posts: 18,102 Location: Nairobi
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Do I need to sign up with Scribd to download these? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,508 Location: nairobi
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VituVingiSana wrote: Do I need to sign up with Scribd to download these? Yes. Its view only
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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VituVingiSana wrote: Do I need to sign up with Scribd to download these? CIC Insurance has overtaken Sanlam in the following metrics; --Gross written premium --Profit before and after tax --Total assets Company has now slipped to position 7 in the following ranking; --Jubilee Insurance --Britam Insurance --ICEA LION --UAP --Liberty Kenya Holdings Plc --CIC Insurance Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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Pesa Nane wrote:Included in the operating profit are the results of our life insurance, general insurance, investments, property and loans businesses. The general insurance and loan businesses exceeded the 2016 operating profit levels while the life insurance, investment management and property businesses performance declined. The general insurance business continues to show significant growth and returned to profitability in 2017. Why is the EPS 0.21  ? From my basic Wanjiku understanding the EPS should be 0.3684(i.e., 53045000÷144000000). Wazua accountants open my eyes please Dumb money becomes dumb only when it listens to smart money
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Fyatu wrote:Pesa Nane wrote:Included in the operating profit are the results of our life insurance, general insurance, investments, property and loans businesses. The general insurance and loan businesses exceeded the 2016 operating profit levels while the life insurance, investment management and property businesses performance declined. The general insurance business continues to show significant growth and returned to profitability in 2017. Why is the EPS 0.21 ? From my basic Wanjiku understanding the EPS should be 0.3684(i.e., 53045000÷144000000). Wazua accountants open my eyes please Consolidation tings. Profit attributable to shareholders of the parent/shares of the parent. If you own 50 percent of company A that owns 50% of company B, you are effectively entitled to 25% of the profits of Company B. Life is short. Live passionately.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Fyatu wrote:Pesa Nane wrote:Included in the operating profit are the results of our life insurance, general insurance, investments, property and loans businesses. The general insurance and loan businesses exceeded the 2016 operating profit levels while the life insurance, investment management and property businesses performance declined. The general insurance business continues to show significant growth and returned to profitability in 2017. Why is the EPS 0.21 ? From my basic Wanjiku understanding the EPS should be 0.3684(i.e., 53045000÷144000000). Wazua accountants open my eyes please Prudence would be to leave it to the wazua accountants as you wished....but meanwhile, consider the PAT less the non-controlling interest (ie Equity holders profit) divided by the number of shares. PAT: 53,045,000 Less Non-controlling interest of: 22,231,000 Equity holders profit = 30,814,000 EPS = 30,814,000 ÷ 144,000,000 shares = 0.214 Pesa Nane plans to be shilingi when he grows up.
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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Pesa Nane wrote:Fyatu wrote:Pesa Nane wrote:Included in the operating profit are the results of our life insurance, general insurance, investments, property and loans businesses. The general insurance and loan businesses exceeded the 2016 operating profit levels while the life insurance, investment management and property businesses performance declined. The general insurance business continues to show significant growth and returned to profitability in 2017. Why is the EPS 0.21 ? From my basic Wanjiku understanding the EPS should be 0.3684(i.e., 53045000÷144000000). Wazua accountants open my eyes please Prudence would be to leave it to the wazua accountants as you wished....but meanwhile, consider the PAT less the non-controlling interest (ie Equity holders profit) divided by the number of shares. PAT: 53,045,000 Less Non-controlling interest of: 22,231,000 Equity holders profit = 30,814,000 EPS = 30,814,000 ÷ 144,000,000 shares = 0.214 Makes sense now...Asante sana Dumb money becomes dumb only when it listens to smart money
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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sparkly wrote:Fyatu wrote:Pesa Nane wrote:Included in the operating profit are the results of our life insurance, general insurance, investments, property and loans businesses. The general insurance and loan businesses exceeded the 2016 operating profit levels while the life insurance, investment management and property businesses performance declined. The general insurance business continues to show significant growth and returned to profitability in 2017. Why is the EPS 0.21 ? From my basic Wanjiku understanding the EPS should be 0.3684(i.e., 53045000÷144000000). Wazua accountants open my eyes please Consolidation tings. Profit attributable to shareholders of the parent/shares of the parent. If you own 50 percent of company A that owns 50% of company B, you are effectively entitled to 25% of the profits of Company B. Thanks mate Dumb money becomes dumb only when it listens to smart money
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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https://www.businessdail...7784-368mbfz/index.html
Gateway insurance was not a wise acquisition Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Institutional shareholders form the top ten apart from Baloobhai Patel. This is what is holding the share price at the current levels Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 1/30/2011 Posts: 207
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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https://www.businessdail...0086-vikqpdz/index.html
NSE-listed non-bank financial services firm Sanlam Kenya has named Patrick Tumbo as the company’s group chief executive officer with immediate effect. Mr Tumbo takes over from Mugo Kibati who left to pursue other interests. George Kuria, the firm's general insurance chief executive officer, has been the acting group CEO for the past six months. Mr Tumbo joins Sanlam Kenya from Jubilee Insurance where he was the CEO, Kenya. He also served as Jubilee's Group technical head on insurance and reinsurance and on subsidiary boards. A statement by Sanlam credited Mr Tumbo with growing Jubilee's Kenya business from Sh4 billion to Sh24 billion during his tenure. “He was also instrumental in driving business growth through technology adoption and widening the client base by venturing into new untapped markets in the East African region,” said the insurer. Sanlam board chairman, John Simba, said Mr Tumbo will be assuming overall leadership for Sanlam Kenya PLC and the respective group subsidiary business. “In Mr Tumbo, we have secured a seasoned business leader who we also believe is the right fit to steer the Sanlam Group to new heights. This is part of our corporate strategy to position the group as a formidable non-bank financial services player in Kenya,” said Dr Simba in the statement. An alumnus of the University of Nairobi, Mr Tumbo holds a Masters of Business Administration degree, specialising in Strategic Management, Marketing and International Business and a Bachelor of Commerce (Insurance option) from the same university. He started his career as a Management Trainee at Alico Kenya (now AIG Kenya) in the early nineties and went to serve in different positions at Co-operative Insurance Company, PTA Reinsurance (ZEP-Re) and then up to CEO at Jubilee Insurance Company of Kenya Ltd. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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 The Board of Directors, Sanlam Kenya, is pleased to announce the appointment of Mr. Patrick Tumbo as the Group Chief Executive Officer with effect from 2nd August, 2018. Mr. Tumbo, a Chartered Insurer joins the Sanlam Kenya Group from Jubilee Insurance where he was serving as the CEO, Kenya. With over two decades’ experience in the insurance and re-insurance industry, Mr. Tumbo is well positioned to steer the Sanlam Group to new heights as part of our corporate strategy to position the group as a formidable non-bank financial services player in Kenya. A member of the Society of Fellows (UK), Mr. Tumbo, is an alumnus of the University of Nairobi, holds a Masters of Business Administration degree specializing in Strategic Management, Marketing and International Business and a Bachelor of Commerce, Insurance Option from the same university. He has also attended several Leadership, Strategy and advanced management training programs from IESE; Barcelona, Spain, London Business School, Lagos Business School and the Strathmore Business School. With over 25 years of relevant working experience and career growth, Mr. Tumbo started off as a Management Trainee at Alico Kenya (now AIG Kenya) in the early 90s. In 2015, Mr. Tumbo was honoured with the 'Africa Insurance CEO of the Year Award' by the Africa Insurance Organisation (AIO). He brings to the Sanlam Group a rare set of sector acumen, business development and corporate restructuring skills having previously served at AIG Kenya, PTA Reinsurance (ZEP-Re) and CIC insurance. The board welcomes Mr. Tumbo to Sanlam Kenya and commits to extend him our full support in growing the business. By Order of the Board. Dr. John P.N. Simba Chairman Pesa Nane plans to be shilingi when he grows up.
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Rank: Chief Joined: 1/3/2007 Posts: 18,102 Location: Nairobi
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Tumbo must have received a huge bump in remuneration given his jump from Jubilee. I do not understand why Jubilee picked Kipngetich though. 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: 10,684 Location: NAIROBI
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VituVingiSana wrote:Tumbo must have received a huge bump in remuneration given his jump from Jubilee.
I do not understand why Jubilee picked Kipngetich though. The chairman wanted a lame duck 🦆 ceo whom he can manipulate/will be clueless of the ongoings within Jubilee insurance as he runs the show Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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