Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
Gross revenue increased by 33 percent to Sh10.6 billion from Sh8 billion recorded in the same period last year/COURTESY

Kenya

Jubilee Holdings posts Sh740m first half profit

Gross revenue increased by 33 percent to Sh10.6 billion from Sh8 billion recorded in the same period last year/COURTESY

NAIROBI, Kenya, Aug 22 – Jubilee Holdings has announced a 19 percent increase in its after-tax profit for the first half of 2012 to Sh740 million up from Sh623 million in the same period last year.

Profit before tax went up to Sh928 million from Sh781 million in 2011.

Gross revenue increased by 33 percent to Sh10.6 billion from Sh8 billion recorded in the same period last year.

Jubilee Holdings Chairman Nizar Juma said the improved performance was due to strategies implemented to improve operating efficiency, focus on risk management and an innovative product development drive.

“As we celebrate our 75th anniversary we are delighted to report that Jubilee remains the largest insurer in Kenya, Uganda and Tanzania. Jubilee’s asset base has grown from Sh38 billion to Sh43 billion in the first half of 2012,” Juma said.

Juma said following the performance the shareholders will receive a dividend of Sh5.50 per share.

Group profit after tax attributable to shareholders grew by 17.3 percent to Sh666.1 million in the first half of 2012 from Sh568 million recorded in the same period in 2011.

Investment income recorded a 47 percent growth to Sh1.442 billion in the first half of 2012.

Revenue from short term business grew by 37 percent in the first half of the year to Sh8.059 billion from Sh5.896 billion in 2011.

Jubilee, which has been in the Kenyan market for the last five years, has a 32 percent market.

Advertisement. Scroll to continue reading.

The group has its footprints in Uganda, Tanzania, Kenya, Burundi and Mauritius.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...