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Kiboko Financial Services Ltd

Kiboko Financial Services Ltd. 23 rd October Board Meeting. Contents. Financials General Update. Financials: Movements since previous board meeting. UGX converted to USD at $1 = UGX 2580. Financials: Group premiums/commissions.

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Kiboko Financial Services Ltd

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  1. Kiboko Financial Services Ltd 23rd October Board Meeting

  2. Contents • Financials • General Update

  3. Financials: Movements since previous board meeting UGX converted to USD at $1 = UGX 2580

  4. Financials: Group premiums/commissions Note: these are as at 9th July 2013. UGX converted to USD at $1 = UGX 2580

  5. Financials: Other client premiums/commissions UGX converted to USD at $1 = UGX 2580

  6. Financials: Insurer Mix

  7. Financials: Expenses • To follow in meeting Expenses to date. FX $1=UGX 2580

  8. Claims: Kiboko Group • APDL: All claims prior to 2013 have been closed, the open claims are due to non premium payment • KEL: Premium is outstanding • APL: Premium all paid up and phoenix is preparing DV’s. • Team is active in following up with claims and requesting documentation from the clients.

  9. Activities • Participated in various events • Annual UMA Independence Exhibition 2nd – 10th October 2013 • International Trade Expo – 23rd – 25th July 2013 • Industry Events • Insurance Industry Sports Gala 29th June 2013 • Samuel attended workshop organised by IRA on Consensus Building • ATI brokers cocktail • IRA CEO’s breakfast meetings • UAIB annual meeting • Microinsurance workshop • Awareness training on Companies Act, 2012 organised by IRA • APA brokers cocktail • Goldstar brokers cocktail • TransAfrica brokers cocktail • Product launch by Lion Assurance

  10. Activities: UMA Independence Exhibition 2nd – 10th October

  11. Summary • Projected Gross Written Premium to reach approx $550k by year end. • New GM to start end November 2013. • Renewal for Kiboko Group policies to commence negotiations early November from UAP, Phoenix & APA. • Premium collections are approximately 52% ( $264k of $508k). • Renewal of IRA license under way • UAIB 2014 membership certificate • IIU 2014 membership certificates • KFS PI policy renewed 2014 • Auditors PI policy 2014 • Annual contribution deposit paid to IRA (1.5% of commissions)

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