Browsing: Jubilee Insurance

Jubilee Holdings
  • Jubilee Holdings Limited has reported a half-year profit before tax of KES 4.1 billion ($34.1 million) for the period ended 30th June 2022
  • The Kenyan-headquartered insurer said its profitability had declined compared to the KSh 5.2 billion ($43.3 million) it posted in a similar period a year earlier
  • The NSE-listed insurer blamed the decline on a tough economic environment characterised by uncertainty arising from elections in Kenya and rising interest rates
  • Jubilee Holdings Board declared an interim dividend of KSh 1 per share, payable on 11 October 2022

Jubilee Holdings Limited has reported a half-year profit before tax of KES 4.1 billion  ($34.1 million) for the period ended 30th June 2022 to defy a tough economic environment characterised by uncertainty arising from elections in Kenya and rising interest rates.

On August 30, 2022, the Kenyan-headquartered insurer said its profitability had declined compared to the KSh 5.2 billion ($43.3) …

  • Jubilee Health has partnered with M-TIBA & Solution Sacco to launch a comprehensive and affordable health insurance cover dubbed “Solution Afya medical scheme”
  • The partnership will enable over 25,000 SACCO members and community-based organisations to benefit from the medical scheme through an extensive network of service providers across Kenya
  • The medical scheme will enable users to sign up and manage their health policies through M-TIBA’s mobile platform

Jubilee Health has partnered with M-TIBA & Solution Sacco to launch a comprehensive and affordable health insurance cover dubbed “Solution Afya medical scheme”.

The Nairobi-headquartered insurer said the partnership will enable over 25,000 SACCO members and community-based organisations to benefit from the medical scheme through an extensive network of service providers across the country.

The medical scheme will enable users to sign up and manage their health policies through M-TIBA’s mobile platform.

The health cover, with a minimum premium of …

Kenyan-based Jubilee Insurance Holdings (JHL) will pay a final dividend of Sh8 per share for the 2020 financial year. 

In a statement, JHL says its shareholders confirmed the amount during the virtual 2021 Annual General Meeting held in Nairobi. 

This therefore brings to Sh9.00 the total dividend per share and payment of Sh652.3 million or US$6.03 million as total dividend for the year. 

The final dividend will be paid on July 26th, 2021 to shareholders registered as of May 26th, 2021.

JHL earned a profit before tax of Sh5.08 billion for the financial period ended 31st December 2020, an increase of Sh70 million compared to 2019. 

This is despite operating in a challenging environment characterized by the effects of COVID-19 and related lockdowns. 

The Group’s total assets increased by 12.1 percent to Sh145.86 billion from Sh130.08 billion and total shareholders’ equity and reserves increased 15.8 percent from Sh28.25 billion

Jubilee Holdings Ltd announced it is selling between 51 per cent to 66 per cent stake of its operating subsidiaries engaged in short term general insurance business across the region to Allianz Group for about $99.35 million.

The regional insurer is selling its general insurance units in Kenya, Tanzania, Uganda, Mauritius and Burundi while retaining full ownership of its life and health insurance businesses except in Burundi and Mauritius.

Jubilee insurance chairperson Nizar Juma said that the operating subsidiaries are subjects to transaction accounts which are only 12.3 per cent of its combined net assets worth 297.13 million as at end of June this year.

“We are very pleased with this historic development for Jubilee Insurance. Over the past decade, we have been approached by a number of international insurers looking to partner with Jubilee to expand into East Africa. With Allianz, we have now identified a partner whose …

The insurance industry in Kenya has recorded an increase in the premiums underwritten between April and June 2019.

The premiums underwritten during this period amounted to Ksh117.28 billion (US$1.13 billion), a 4.4 per cent increase from Ksh112.39 billion (US$1.08 billion) recorded over the same period in 2018.

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The Insurance Regulatory Authority (IRA) has attributed this development largely to a 2.9 per cent growth recorded by the general business segment and 6.9 per cent by the long term insurance business segment.

“The increase in general business was mainly contributed by medical and motor private insurance classes of business which accounted for 66.8 per cent of the gross premium income,” IRA notes in its latest (Q2) industry report.

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During the same period, the claims incurred amounted to Ksh28.84 billion. This was a decrease of 1.3 …