NAIROBI, Kenya, May 31 — Jubilee Holdings has announced a record dividend payout of Sh978 million for the 2024 financial year, following a robust performance that saw the insurer’s profit before tax hit Sh6.2 billion.
Shareholders approved a final dividend of Sh11.50 per share at the company’s 87th Annual General Meeting (AGM) in Nairobi.
Combined with the interim dividend of Sh2.00 already paid out, the total dividend stands at Sh13.50 per share—the highest in Jubilee’s history.
“We are proud to deliver this return to our shareholders. It reflects both our strong performance and our optimism for the future,” said Chairman Zul Abdul, highlighting the payout as evidence of the insurer’s financial health and long-term growth strategy.
The record payout follows a solid financial year ending April 2025.
Jubilee Holdings reported a Profit Before Tax of Sh6.2 billion, excluding gains from the earlier Jubilee Allianz deal. Gross Written Premiums soared by 34% to Sh53 billion, while Insurance Revenue climbed 14% to Sh25.7 billion.
Notably, the earnings exclude gains from the company’s earlier Jubilee Allianz transaction, underlining the strength of its core business.
CEO Julius Kipngetich credited the firm’s performance to its market leadership in medical insurance across Kenya, Uganda, and Tanzania.
He noted that East Africa’s low insurance penetration—currently 2.3% in Kenya, 0.6% in Tanzania, and 0.9% in Uganda—presents untapped growth opportunities.
“There’s still a massive opportunity for growth in health, life, and investment services,” Kipngetich said, pointing to the region’s rising demand for accessible and affordable coverage.
Jubilee’s record dividend marks a milestone in its transformation journey, reaffirming its commitment to shareholder value while positioning itself for further expansion in underserved markets across East Africa.
