NAIROBI, Kenya, June 24 – Jubilee holdings shareholders have approved a total dividend of Shs1.1bn for 2021 after confirming the payment of the final dividend of Shs 13.0 per share.
The payment was approved during the virtual 2021 Annual General Meeting (AGM) held in Nairobi.
This brings to Shs 14.0, the total dividend paid including a special dividend of Shs 5.0.
In the financial year 2021, the total Profit Before Tax stood at Shs8.4 billion, increasing by 66 percent from the Shs 5.1 billion reported in 2020.
This strong performance, despite the increase of medical and life claims relating to COVID-19 cases, was partly driven by the gain on the sale of controlling interests in the general businesses in Kenya and Uganda, transactions that were completed last year:
In 2021, Jubilee’s Gross Written Premium reached Shs 38.8 billion, an increase of Shs 825 million.
The growth, despite the loss of the general insurance business in Kenya and Uganda, was driven by the good performance in the health and life insurance business, which grew by Shs 1.4 billion and Shs 1.2 billion respectively.
The group’s total assets increased by Shs 9 billion to Shs 155billion.
At the AGM, Jubilee Holdings Limited Chairman, Nizar Juma said the strong performance was backed by tight expense control measures and improved return on investments that allowed JHL to reinforce its leadership position in the industry, including the No. 1 composite insurer in Uganda and Tanzania and the No. 1 Health insurer in the Region.
“Retaining the regional leadership position over the years is only possible when we prioritize our customers and proactively innovate to align and deliver value to their changing needs and expectations. Our digital transformation will offer more meaningful engagement and value to all our stakeholders” Juma said.
