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CIC Insurance Group Plc's FY 2018
Superprime1
#1 Posted : Thursday, March 14, 2019 6:19:48 PM
Rank: Member


Joined: 5/2/2018
Posts: 194
Gross written premiums up 11.7% to Sh16.63bn

Total income up 9.5% to Sh17.08bn

Total expenses up 7.7% to Sh16.24bn

PBT up 64% to Sh851.62m

Net profit up 30.7% to Sh625.36m

First and final dividend of Sh0.13/share, up 8.3% from Sh0.12/share for FY 2017
mlennyma
#2 Posted : Thursday, March 14, 2019 6:27:18 PM
Rank: Elder


Joined: 7/21/2010
Posts: 5,935
Location: nairobi
Superprime1 wrote:
Gross written premiums up 11.7% to Sh16.63bn

Total income up 9.5% to Sh17.08bn

Total expenses up 7.7% to Sh16.24bn

PBT up 64% to Sh851.62m

Net profit up 30.7% to Sh625.36m

First and final dividend of Sh0.13/share, up 8.3% from Sh0.12/share for FY 2017

Among the poorest dividends
"Don't let the fear of losing be greater than the excitement of winning."
Ericsson
#3 Posted : Thursday, March 14, 2019 7:01:12 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,571
Location: NAIROBI
mlennyma wrote:
Superprime1 wrote:
Gross written premiums up 11.7% to Sh16.63bn

Total income up 9.5% to Sh17.08bn

Total expenses up 7.7% to Sh16.24bn

PBT up 64% to Sh851.62m

Net profit up 30.7% to Sh625.36m

First and final dividend of Sh0.13/share, up 8.3% from Sh0.12/share for FY 2017

Among the poorest dividends


Don't blame the dividend per share.
Look at the number of issued shares.
Look at the earnings per share.
Look at the total amount of dividend as a percentage of the profit after tax
Superprime1
#4 Posted : Thursday, March 14, 2019 8:39:17 PM
Rank: Member


Joined: 5/2/2018
Posts: 194
Ericsson wrote:
mlennyma wrote:
Superprime1 wrote:
Gross written premiums up 11.7% to Sh16.63bn

Total income up 9.5% to Sh17.08bn

Total expenses up 7.7% to Sh16.24bn

PBT up 64% to Sh851.62m

Net profit up 30.7% to Sh625.36m

First and final dividend of Sh0.13/share, up 8.3% from Sh0.12/share for FY 2017

Among the poorest dividends


Don't blame the dividend per share.
Look at the number of issued shares.
Look at the earnings per share.
Look at the total amount of dividend as a percentage of the profit after tax


CIC's proposed div payout stands at 54%; 2017 FY payout was about 65%.

The payout is good; it's profitability that's the problem. To pay better dividends, the insurer's net profit should be playing in the billions range, not millions, considering the capital employed. The return on equity is about 7.9%... return on assets at about 1.9%...
Pesa Nane
#5 Posted : Thursday, March 14, 2019 9:23:29 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,067
Location: 08c

Pesa Nane plans to be shilingi when he grows up.
Ericsson
#6 Posted : Thursday, March 14, 2019 11:29:54 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,571
Location: NAIROBI
Pesa Nane wrote:



Balance sheet and cashflow statement
Ericsson
#7 Posted : Thursday, March 14, 2019 11:37:11 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,571
Location: NAIROBI
Pesa Nane wrote:




Second Half 2018 must have been really tough if I compare Full year 2018 with Half Year

https://i.imgur.com/OTlrlNP.jpg

cyruskulei
#8 Posted : Friday, March 15, 2019 9:46:02 AM
Rank: Member


Joined: 3/9/2010
Posts: 126
Location: kenya
Ericsson wrote:
Pesa Nane wrote:




Second Half 2018 must have been really tough if I compare Full year 2018 with Half Year

https://i.imgur.com/OTlrlNP.jpg



Is there material announcement for this counter today?
Make money when others are lamenting
Ericsson
#9 Posted : Friday, March 15, 2019 10:49:29 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,571
Location: NAIROBI
cyruskulei wrote:
Ericsson wrote:
Pesa Nane wrote:




Second Half 2018 must have been really tough if I compare Full year 2018 with Half Year

https://i.imgur.com/OTlrlNP.jpg



Is there material announcement for this counter today?


I see no significant change in share price
Ericsson
#10 Posted : Friday, March 15, 2019 12:12:46 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,571
Location: NAIROBI
As a group we have continued to focus more on underwriting profit – not investment income” said the MD Tom Gitogo
VituVingiSana
#11 Posted : Friday, March 15, 2019 1:29:05 PM
Rank: Chief


Joined: 1/3/2007
Posts: 15,714
Location: Nairobi
Ericsson wrote:
As a group we have continued to focus more on underwriting profit – not investment income” said the MD Tom Gitogo
Not easy but a good strategy for the long-term.
Even WB talks about underwriting profits being extremely desirable even while he uses the float to generate investment income.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#12 Posted : Friday, March 15, 2019 1:31:49 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,571
Location: NAIROBI
Healthy cashflows and the company will easily repay the full principal of ksh.5bn Corporate bond issued in 2014
Ericsson
#13 Posted : Friday, March 15, 2019 1:33:25 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,571
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
As a group we have continued to focus more on underwriting profit – not investment income” said the MD Tom Gitogo
Not easy but a good strategy for the long-term.
Even WB talks about underwriting profits being extremely desirable even while he uses the float to generate investment income.


Growth in underwriting profits gives the company opportunity to pay higher dividends and returns to shareholders
Ericsson
#14 Posted : Saturday, March 16, 2019 12:04:24 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,571
Location: NAIROBI
Superprime1 wrote:
Ericsson wrote:
mlennyma wrote:
Superprime1 wrote:
Gross written premiums up 11.7% to Sh16.63bn

Total income up 9.5% to Sh17.08bn

Total expenses up 7.7% to Sh16.24bn

PBT up 64% to Sh851.62m

Net profit up 30.7% to Sh625.36m

First and final dividend of Sh0.13/share, up 8.3% from Sh0.12/share for FY 2017

Among the poorest dividends


Don't blame the dividend per share.
Look at the number of issued shares.
Look at the earnings per share.
Look at the total amount of dividend as a percentage of the profit after tax


CIC's proposed div payout stands at 54%; 2017 FY payout was about 65%.

The payout is good; it's profitability that's the problem. To pay better dividends, the insurer's net profit should be playing in the billions range, not millions, considering the capital employed. The return on equity is about 7.9%... return on assets at about 1.9%...


It's the economy stupid
Ericsson
#15 Posted : Monday, April 22, 2019 3:23:59 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,571
Location: NAIROBI
CIC Insurance Group says it is eyeing entry into Ethiopia, Tanzania and Rwanda as the firm seeks to increase its footprint in the Eastern and Central African region.

Chief Executive Officer Tom Gitogo told the Business Daily that the insurer was keenly following Prime Minister Abiy Ahmed’s administration’s efforts to free up the country’s financial sector that has for decades been under State control.

The firm’s planned entry would increase its countries of operation to seven, including Kenya. Currently, the insurer is present in Uganda, Malawi and South Sudan.

https://www.businessdail...81620-rigxpwz/index.html
Ericsson
#16 Posted : Monday, April 29, 2019 9:26:39 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,571
Location: NAIROBI
https://www.businessdail...1754-bmt2tpz/index.html

CIC Insurance has captured more than a third of the unit trusts market, opening a wider gap with Britam’s subsidiary that has shed assets.

Fresh data from the Capital Markets Authority (CMA) show that CIC unit trust scheme market share climbed to 34.25 per cent from previous nearly 27 percent at the end of March 2019, with Sh20.9 billion funds under management.

This piled pressure on closest competitor British American Unit Trust which had only Sh8.68 billion of the total collective investment schemes’ (CIS) Sh61.04 billion assets under management.

“CIC Unit Trust Scheme had the largest CIS asset portfolio valued at Sh20.91 billion, while British American Unit Trust had the second largest portfolio valued at Sh8.68 billion, accounting for 34.25 per cent and 14.23 per cent respectively,”

ICEA Lion gained Sh1 billion, pushing assets under management to Sh6.98 billion and overtaking Old Mutual to position three with 11.43 per cent market share. Old Mutual market share dropped to 10.95 per cent from 13.4 per cent held in March last year as its assets under management shrunk to 6.68 billion. CBA unit trust comes fifth.
Ericsson
#17 Posted : Monday, April 29, 2019 8:54:11 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,571
Location: NAIROBI
CIC Insurance is capitalizing on mistakes made by Jubilee,Britam and Old Mutual UAP
winmak
#18 Posted : Monday, April 29, 2019 9:47:09 PM
Rank: Member


Joined: 12/1/2007
Posts: 409
Location: Nakuru
Ericsson wrote:
CIC Insurance is capitalizing on mistakes made by Jubilee,Britam and Old Mutual UAP


Which mistakes are these?
For investors as a whole, returns decrease as motion increases ~ WB
Ericsson
#19 Posted : Monday, April 29, 2019 10:16:04 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,571
Location: NAIROBI
winmak wrote:
Ericsson wrote:
CIC Insurance is capitalizing on mistakes made by Jubilee,Britam and Old Mutual UAP


Which mistakes are these?

Being insensitive/not hearing to customers needs
winmak
#20 Posted : Tuesday, April 30, 2019 6:34:48 AM
Rank: Member


Joined: 12/1/2007
Posts: 409
Location: Nakuru
Ericsson wrote:
winmak wrote:
Ericsson wrote:
CIC Insurance is capitalizing on mistakes made by Jubilee,Britam and Old Mutual UAP


Which mistakes are these?

Being insensitive/not hearing to customers needs


Aha. I think banks with their rate cap issues will face serious capital flight to these trusts
For investors as a whole, returns decrease as motion increases ~ WB
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