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16 Pages«<141516
Kenya Re - 2018 and beyond
sparkly
#301 Posted : Sunday, March 15, 2020 2:58:37 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,888
Location: Enk are Nyirobi
VituVingiSana wrote:
https://www.nation.co.ke/news/Uhuru-frustrating-AG-appointment-MPs-say/1056-5491376-6niigwz/index.html No AG anytime soon!


I said it elsewhere that UMK will appoint an Auditor General in 2021/2, a few months before leaving office. He reserved himself 2 years to steal without accountabilty.
Life is short. Live passionately.
VituVingiSana
#302 Posted : Sunday, March 15, 2020 8:40:41 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,205
Location: Nairobi
sparkly wrote:
VituVingiSana wrote:
https://www.nation.co.ke/news/Uhuru-frustrating-AG-appointment-MPs-say/1056-5491376-6niigwz/index.html No AG anytime soon!

I said it elsewhere that UMK will appoint an Auditor General in 2021/2, a few months before leaving office. He reserved himself 2 years to steal without accountabilty.
Suddenly, Moi isn't looking all that bad on the economic/financial end of things! Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#303 Posted : Monday, March 16, 2020 10:21:41 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,888
Location: Enk are Nyirobi
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
https://www.nation.co.ke/news/Uhuru-frustrating-AG-appointment-MPs-say/1056-5491376-6niigwz/index.html No AG anytime soon!

I said it elsewhere that UMK will appoint an Auditor General in 2021/2, a few months before leaving office. He reserved himself 2 years to steal without accountabilty.
Suddenly, Moi isn't looking all that bad on the economic/financial end of things! Laughing out loudly


Apparently a case of Coronavirus deserves emergemcy than appointing the Auditor of government finances.
Life is short. Live passionately.
Extraterrestrial
#304 Posted : Monday, March 16, 2020 2:23:25 PM
Rank: Member


Joined: 11/17/2018
Posts: 150
Location: Mars
Kenya Re down to Sh2.19. Unbelievable.
winmak
#305 Posted : Monday, March 16, 2020 2:30:31 PM
Rank: Member


Joined: 12/1/2007
Posts: 512
Location: Nakuru
Extraterrestrial wrote:
Kenya Re down to Sh2.19. Unbelievable.


Buy buy buy...
For investors as a whole, returns decrease as motion increases ~ WB
Extraterrestrial
#306 Posted : Monday, March 16, 2020 4:24:22 PM
Rank: Member


Joined: 11/17/2018
Posts: 150
Location: Mars
The crisis is just getting started. Next may be major bankruptcies in the world's developed economies, even as the virus grows shockingly. Frontiers will definitely suffer from lower tax collections and difficulties raising finance, while private sector will suffer from both supply and demand shocks, including behavioural.
Ericsson
#307 Posted : Friday, March 20, 2020 10:41:07 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,860
Location: NAIROBI
https://www.businessdail...97426-14qpckq/index.html
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Swenani
#308 Posted : Saturday, March 21, 2020 10:15:20 AM
Rank: User


Joined: 8/15/2013
Posts: 13,161
Location: Vacuum
winmak wrote:
Extraterrestrial wrote:
Kenya Re down to Sh2.19. Unbelievable.


Buy buy buy...


With this corona virus, insurance companies is a big NO
If Obiero did it, Who Am I?
obiero
#309 Posted : Sunday, March 22, 2020 6:38:08 AM
Rank: Elder


Joined: 6/23/2009
Posts: 12,828
Location: nairobi
Swenani wrote:
winmak wrote:
Extraterrestrial wrote:
Kenya Re down to Sh2.19. Unbelievable.


Buy buy buy...


With this corona virus, insurance companies is a big NO

A bandia firm
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
Angelica _ann
#310 Posted : Sunday, March 22, 2020 7:46:59 AM
Rank: Elder


Joined: 12/7/2012
Posts: 11,701
obiero wrote:
Swenani wrote:
winmak wrote:
Extraterrestrial wrote:
Kenya Re down to Sh2.19. Unbelievable.


Buy buy buy...


With this corona virus, insurance companies is a big NO

A bandia firm


But treats shareholders, clients and staff well. Bailout, no!!! smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
heri
#311 Posted : Sunday, March 22, 2020 10:56:27 AM
Rank: Member


Joined: 9/14/2011
Posts: 778
Location: nairobi
Swenani wrote:
winmak wrote:
Extraterrestrial wrote:
Kenya Re down to Sh2.19. Unbelievable.


Buy buy buy...


With this corona virus, insurance companies is a big NO



with COVID 19, what is the exposure? They are not covering the pandemic? and when they cover, it is treatment in government hospitals

Of course most have big exposure through their investments in the NSE
sparkly
#312 Posted : Sunday, March 22, 2020 7:36:04 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,888
Location: Enk are Nyirobi
obiero wrote:
Swenani wrote:
winmak wrote:
Extraterrestrial wrote:
Kenya Re down to Sh2.19. Unbelievable.


Buy buy buy...


With this corona virus, insurance companies is a big NO

A bandia firm


You forgotten that you have 100k shares of the bandia firm smile
Life is short. Live passionately.
VituVingiSana
#313 Posted : Sunday, March 22, 2020 7:57:12 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,205
Location: Nairobi
sparkly wrote:
obiero wrote:
Swenani wrote:
winmak wrote:
Extraterrestrial wrote:
Kenya Re down to Sh2.19. Unbelievable.

Buy buy buy...

With this corona virus, insurance companies is a big NO

A bandia firm

You forgotten that you have 100k shares of the bandia firm smile
This firm doesn't require a bailout Laughing out loudly Applause
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#314 Posted : Tuesday, April 28, 2020 10:53:54 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,860
Location: NAIROBI
https://www.businessdail...36112-fxs9u2/index.html

American rating agency A.M. Best has downgraded the long-term Issuer credit rating (Long-Term ICR) outlook of listed Kenya Reinsurance Corporation (Kenya Re) to negative from stable.

The insurance-focused agency said the negative outlook on the long-term ICR reflects "Kenya Re's poor technical performance in recent years".

It noted the performance has been demonstrated by non-life underwriting results that are significantly weaker than its historical average and regional peers in 2018 and 2019.

"While the company's net income improved to Sh4 billion (2018: Sh2.3 billion), this was primarily driven by a one-off unrealised gain of Sh1.9 billion from an investment property write-back," said A.M. Best in a statement.
"They regraded the long-term outlook from stable to negative because of the economic down turn due to Covid-19 and the discrepancy between the 2019 loss ratio from our projection of the same," said Kenya Re chief executive officer Jadiah Mwarania.

"They explained that revision of outlook is something they do often across the world. The rating at B is unchanged."

Kenya Re reported an unaudited non-life underwriting loss of Sh2.6 billion in 2019, significantly higher than the loss of Sh1.1 billion reported in 2018.

The deterioration in performance was not anticipated by A.M. Best and was driven primarily by the company's books in the Middle East and Asia.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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