NAIROBI, Kenya, April 17 – Jubilee Health Insurance net profit grew by 29 percent to Sh438 million in the full year ending December last year.
It links strong returns from investments with a 15 percent increase in insurance service revenue.
All segments, including corporate, retail, and SME, experienced double-digit growth, reflecting the company’s resilient business model.
Gross written premiums rose by 31 percent to Sh11.8 billion, and the number of lives insured increased by 25 percent to 238,000.
“Jubilee Health’s innovative approach to insurance has been driving exceptional customer service and company growth while our tailored products have expanded their market reach and resonated with customers, cementing our number one position within the region,” Jubilee Health Insurance CEO Njeri Njomo said.
Despite challenges in the macroeconomic environment, including increased claims costs, the company improved claims processing efficiency through integrated artificial intelligence (AI) systems and data analytics.
The company also saw growth in interest-bearing investments, contributing to the expansion of its asset base.
With a three-fold increase in cash flows from operations, Jubilee Health Insurance adds that it remains focused on prudent investment strategies to maximize shareholder value and achieve sustainable growth.
Earnings per share increased from Sh122.71 to Sh158.68 as a result of these efforts.
