(Last Updated On: August 10, 2014)
NSE listed company Pan African Insurance Holdings posted a decline in its first half pretax profit by 42 percent. This is due to a decline in investment income which fell by 59 percent to sh221 million. Pretax profit were at sh495 million.
Property sales fell reducing operating surplus 13 percent. The core life business operating profit was up 18 percent while gross premiums were up 30 percent. The company’s latest products were a life cover plus insurance policy that insures customers who lose their jobs. New products are on track to be introduced.