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JUBILEE HOLDINGS
Ericsson
#61 Posted : Wednesday, January 06, 2021 8:55:40 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,254
Location: NAIROBI
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder πŸ”Š than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?


It will be measured post transaction when you will see the revenue/income Jubilee will be making.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#62 Posted : Wednesday, January 06, 2021 10:32:12 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,371
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder πŸ”Š than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?


It will be measured post transaction when you will see the revenue/income Jubilee will be making.

Revenues, per IFRS, will drop since the subsidiaries will be de-consolidated according to IFRS.

Do note that IFRS17 also kicks in 1 Jan 2023.

The comparison should be Apple to Apples.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#63 Posted : Wednesday, January 06, 2021 10:41:07 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,254
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder πŸ”Š than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?


It will be measured post transaction when you will see the revenue/income Jubilee will be making.

Revenues, per IFRS, will drop since the subsidiaries will be de-consolidated according to IFRS.

Do note that IFRS17 also kicks in 1 Jan 2023.

The comparison should be Apple to Apples.


They said the funds will be deployed to profitable ventures.
We wait and see.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#64 Posted : Monday, January 11, 2021 10:06:51 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,254
Location: NAIROBI
https://www.businessdail...er-allianz-deal-3253014

The sh.7.7bn proceeds they will get from Allianz will be used to expand life,medical business and invest in financial instruments and securities.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#65 Posted : Monday, January 18, 2021 9:26:37 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,254
Location: NAIROBI
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder πŸ”Š than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?



https://www.businessdail...neral-insurance-3260150

Meanwhile, Britam Life maintained the lead in the long-term insurance despite its market share shrinking from 24.7 percent to 23.96 percent.

ICEA Lion Life Assurance beat Jubilee to the second spot with a market share of 14.68 percent, a rise from 13.8 percent in June 2019.

Jubilee Insurance had the biggest drop with it's market share dropping from 15.5% in 2019 Q2 to 13.4% in Q2 2020.
ICEA LION Life Assurance had the biggest jump.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#66 Posted : Monday, January 18, 2021 9:58:56 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,371
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder πŸ”Š than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?



https://www.businessdail...neral-insurance-3260150

Meanwhile, Britam Life maintained the lead in the long-term insurance despite its market share shrinking from 24.7 percent to 23.96 percent.

ICEA Lion Life Assurance beat Jubilee to the second spot with a market share of 14.68 percent, a rise from 13.8 percent in June 2019.

Jubilee Insurance had the biggest drop with it's market share dropping from 15.5% in 2019 Q2 to 13.4% in Q2 2020.
ICEA LION Life Assurance had the biggest jump.

Market share is not profits.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#67 Posted : Monday, January 18, 2021 10:28:48 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,254
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
tandich wrote:



https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.
Nonsense. They got a great deal/multiple. Read the IM.

Actions speak louder πŸ”Š than words.
Time will tell who spoke nonsense .
How should we measure it?
I would like to come back to it.
Silence from @Ericsson?



https://www.businessdail...neral-insurance-3260150

Meanwhile, Britam Life maintained the lead in the long-term insurance despite its market share shrinking from 24.7 percent to 23.96 percent.

ICEA Lion Life Assurance beat Jubilee to the second spot with a market share of 14.68 percent, a rise from 13.8 percent in June 2019.

Jubilee Insurance had the biggest drop with it's market share dropping from 15.5% in 2019 Q2 to 13.4% in Q2 2020.
ICEA LION Life Assurance had the biggest jump.

Market share is not profits.



We are going step by step,so that at the conclusion whatever the outcome there will be no noise like where is the evidence.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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