Jubilee Holdings Announces Special Dividend as Profits Hit Sh6.83 Billion
The underwriter on Thursday announced that its net profit for the year rose to Sh6.83 billion from Sh4.08 billion
The increase was partly driven by the gain on the sale of controlling interests in the general businesses in
"In 2021, our primary focus was on product and service improvement through the deployment of new offerings especially in the SME and Micro segments. As a result of leveraging on enhanced distribution capabilities through our digital platforms, we were able to transact premiums of over Sh150 million. This represented a 700 per cent YoY growth compared to 2020", Kipng'etich said.
The performance was the result of a growth of Sh1.4 billion in the Health Insurance Business and Sh1.2 billion growth in the Life Insurance Business, to make up for the impact of the partial loss of the General Insurance Business.
Total comprehensive income after tax grew substantially to Sh7.4 billion from Sh5.8 billion in 2020, while investment income registered a growth of Sh4.6 billion from Sh11.3 billion to Sh15.9 billion.
The Group's Balance Sheet continues to remain solid and resilient as Total Assets increased by over Sh9billion to Sh155 billion.
"The excellent results cement Jubilee as the most stable and reliable insurer in
While the period under review was characterized by social and economic uncertainties occasioned by Covid-19, JHL was able to significantly reposition itself to focus on sustainable growth, enhanced earnings, and the creation of value for all stakeholders.
The partnership between
The transactions in the remaining two markets,
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