Crusader Nigeria Plc

[billions]

I like d point made by zainab'....that d 1b naira is too round 4 comfort.it is likely dat dey sold an asset.

[Apache]

When we mention turnover for Insurance companies, is this the same as premiums?
If Yes, then I mgith not really panic cos if you look at the result, there was a very decent increase in turnover. So it's likely that they had a lot of claims this years which eroded their profit and in order to give a good result (considering they that will soon be coming for a PO) they sold an exceptional item. Hopefully, such claims might not be frequent in the future.
Their turnover is still healthy

[threecrown]

Originally Posted by Apache

When we mention turnover for Insurance companies, is this the same as premiums?
If Yes, then I mgith not really panic cos if you look at the result, there was a very decent increase in turnover. So it's likely that they had a lot of claims this years which eroded their profit and in order to give a good result (considering they that will soon be coming for a PO) they sold an exceptional item. Hopefully, such claims might not be frequent in the future.
Their turnover is still healthy

To support your point, this the summary of there premium for 2007 and 2006. they have had a good turnover in 2006 so it is likely that they had a lot of claims this years which eroded their profit.

GROSS PREMIUM 2007 2006
Life Premium Income 558072 471709
Non-Life Premium 1256316 621468

NET PREMIUM
Life Premium Income 435709 321257
Non-Life Premium 973914 545076

Profit Before Tax 626502 289345
Taxation 50495 28312
Profit After Tax 576007 261033

[Apache]

This is what i have from the guardian newspaper today

2007 - 2006
'000 - '000
Life premium Income (Gross): 635,137 - 456,213
Welfare Scheme/ DA (Gross): 463,646 - 473,475
Non-life Premium (Gross); 1,534,110 - 643,347
Investment Income: 846,712 - 404,856
Exceptional Item: 1,041,656 -
PBT: 1,582,293 - 300,447
PAT: 1,446,931 - 267,117
Life Insurance Funds: 302,702 - 243,993
Non-Life Insurance Funds: 360,349 - 166,650
Share Capital: 1,994,710 - 492,234
Shareholders Funds: 8,373,580 - 6,148,488
Total Assets: 13,015,675 - 10,327,142
earnings per share: 36K - 27K
Dividend per share: 15K - 15K
Dividend cover: 2.4 times - 1.8 times


Oya, Pastor Hispy and Zainab, can you guys dust out your ICAN and ACCA books and please analyse this for us.
What can you deduce from this result

[hispy99]

Originally Posted by Apache

This is what i have from the guardian newspaper today

2007 - 2006
'000 - '000
Life premium Income (Gross): 635,137 - 456,213
Welfare Scheme/ DA (Gross): 463,646 - 473,475
Non-life Premium (Gross); 1,534,110 - 643,347
Investment Income: 846,712 - 404,856
Exceptional Item: 1,041,656 -
PBT: 1,582,293 - 300,447
PAT: 1,446,931 - 267,117
Life Insurance Funds: 302,702 - 243,993
Non-Life Insurance Funds: 360,349 - 166,650
Share Capital: 1,994,710 - 492,234
Shareholders Funds: 8,373,580 - 6,148,488
Total Assets: 13,015,675 - 10,327,142
earnings per share: 36K - 27K
Dividend per share: 15K - 15K
Dividend cover: 2.4 times - 1.8 times


Oya, Pastor Hispy and Zainab, can you guys dust out your ICAN and ACCA books and please analyse this for us.
What can you deduce from this result

We need to see the notes in the full accounts to know what caused the exceptional items.

In my opinion, discount the figure in your valuation since exceptional/extraordinary items are supposed to be infrequent in nature.

[billions]

Originally Posted by Apache

When we mention turnover for Insurance companies, is this the same as premiums?
If Yes, then I mgith not really panic cos if you look at the result, there was a very decent increase in turnover. So it's likely that they had a lot of claims this years which eroded their profit and in order to give a good result (considering they that will soon be coming for a PO) they sold an exceptional item. Hopefully, such claims might not be frequent in the future.
Their turnover is still healthy

I am of d opinion dat the turnover of insurance companies shd be higher than premiums since these companies do many other bizz apart from insurance.

ur views pls...

[newton]

Originally Posted by billions

I am of d opinion dat the turnover of insurance companies shd be higher than premiums since these companies do many other bizz apart from insurance.

ur views pls...

Sure, the turnover usually includes premium and other income (investment...) hence it shd normally be more than just premium...(see breakdown of crusader results...investment income well over N800m)

[Apache]

Originally Posted by hispy99

We need to see the notes in the full accounts to know what caused the exceptional items.

In my opinion, discount the figure in your valuation since exceptional/extraordinary items are supposed to be infrequent in nature.

I think the exceptional item is concluded in the sense that whatever it is, we know it's not recurrent.
What I am interested in is the sustainability of profitability of this business in the long run hence looking at the increase in turnover (or is it premiums). For me, this results looks healthy. What I would like to see in their financial report is what eroded the profits such that they had to book an exceptional item to declare profit for this year

[hispy99]

Originally Posted by Apache

I think the exceptional item is concluded in the sense that whatever it is, we know it's not recurrent.
What I am interested in is the sustainability of profitability of this business in the long run hence looking at the increase in turnover (or is it premiums). For me, this results looks healthy. What I would like to see in their financial report is what eroded the profits such that they had to book an exceptional item to declare profit for this year

ok now I understand you. Most likely, they had to make payment on a big claim during the year. That is why we need to be careful with insurance companies, as one big claim can wipe out the profit for the year.

Also take note of the percentage contribution of investment income to total income (around 25%). We all know how the market has been behaving. Except they have supermen managing their portfolio, then they are most likely showing red, just like you and me

[henry_bonds@yahoo.co.uk]

Crusader was the local underwriters to the ADC plane crash. maybe the had to set aside some funds to take care of that long over due payment. Secondly, they might have expended some funds in the present restructuring.

These two items may account for the Crusader declaring a final year profit that is at par with her 1st qtr profit in that year.

[ntom]

it is not only crusader it is common with ins coy the will declare 80% of there income as profit me and u know it is not possible check there results and when it comes to pay dividen the will be paying kobo kobo

[chokit]

May i ask why the drop in price of crusader i believe it is on technical suspension.7.50 previously and now 7.35 today.

[Yomik]

Originally Posted by chokit

May i ask why the drop in price of crusader i believe it is on technical suspension.7.50 previously and now 7.35 today.

I dont understand i hope someone can explain more better to us.

[ntom]

Originally Posted by Yomik

I dont understand i hope someone can explain more better to us.

it was mark down for dividen 15kobo

[Yomik]

Originally Posted by ntom

it was mark down for dividen 15kobo

Thanks, i forgot about that.

[chokit]

Thanks for enlighting us but when a stock is on placed on TS the implication is it not going to be trading for the preiod hence where does the 2 trades recorded on it comes from because i remmeber i placed a sale order on my wema but unable to sell because of TS.

Can you tell us when the didvdend will be pais and when the coy shareholders registed will be closed for dividend.