(Last Updated On: March 27, 2015)
Kenya’s top insurance company Jubilee Holdings has reported 24% rise in net profit for the year ended December 2014. Net profit stood at Ksh3.1 billion as compared to Ksh2.5 billion the previous year.
Gross premiums increased by 30% to Ksh30.3 billion stamping its position as top in both general and life insurance business. Gross premiums in life assurances and annuities stood at Ksh11 billion. All insurance operations had a double digit growth.
Jubilee Holdings declared a final dividend of Ksh7 per share bringing the total dividend to Ksh8.5 per share. There was also a bonus of 1 share for every 10 shares held hence a total of 5.9 million shares will be allotted.
In terms of future expansions, Jubilee will look for potential acquisitions in local and regional market