Britam Issues a profit warning. This makes it the 14th listed company in the Nairobi Securities Exchange to issue Profit Warnings. The Kenyan Insurance Industry has taken a big hit in the market.
Market Value down by Half since January 2015
Britam is down by 50.74% during the year. It closed at KES 13.30 on 23rd Wednesday 2015. We expect it to go lower. We have overlaid a 1 year chart of Britam, Pan African Insurance and Liberty Kenya Holdings to illustrate this phenomenon. Assuming you took positions with Britam you would definitely be doing very poorly compared to those peers. “Out of the Money” as they say.
