Preparations for IFRS 17 have been completed by 37 percent of global insurers. PHOTO | FILE Insurance Contracts IFRS 17 was issued by the International Accounting Standards Board in May 2017 as replacement for IRFS 4 Insurance Contracts. The reporting standards require an updated measurement model where estimates are re-assessed in each reporting period. The […]
Jubilee Holdings #ticker:JUB has bought Coca-Cola East Africa’s former head office in Nairobi’s Upper Hill at a cost of Sh1.1 billion, with the insurer planning to move its headquarters to the property in September. The Nairobi Securities Exchange #ticker:NSE -listed firm will lease out part of its current address –Jubilee Insurance House on Wabera Street— […]
THE DSE bourse has closed the first quarter of 2022 (Q122) on a positive note. The total turnover generated on the trading of stocks for the first quarter amounted to TZS 34.9Bln ($15.17Mln) which is a 48.9% jump from TZS 23.3Bln that was generated in the first quarter of 2021(Q121). Furthermore, the volume of socks […]
NAIROBI, Kenya April 1-Jubilee Holdings shareholders are set to receive a total dividend of Sh1.015 billion including a special dividend of Sh14 per share after the underwriter reported a 7 per cent jump in net profits for the full year ended December 31, 2021. The underwriter on Thursday announced that its net profit for the […]
Jubilee Holdings Chairman Nizar Juma (centre), Group CEO Julius Kip’ngetich (left) and Group Chief Operating Officer Juan Cazcarra during a press briefing on the firm’s 2021 financial results in Nairobi yesterday. Jubilee Holdings shareholders are set for a record Sh1.015 billion dividend payout after the insurer’s net profit grew 67 per cent helped by the […]
The underwriter on Thursday announced that its net profit for the year rose to Sh6.83 billion from Sh4.08 billion The increase was partly driven by the gain on the sale of controlling interests in the general businesses in Kenya and Uganda, transactions that were completed last year. Jubilee Holdings Limited Group CEO Julius Kipng’etich noted […]
Nairobi — Jubilee Holdings shareholders are set to receive a total dividend of Sh1.015 billion including a special dividend of Sh14 per share after the underwriter reported a 7 per cent jump in net profits for the full year ended December 31, 2021. The underwriter on Thursday announced that its net profit for the year […]
CIC Group has posted a Sh55million loss on its life assurance business for the year ended December 2021 , as claims hit Sh3.8billion, from Sh3.1 billion previous year. This is from a Sh60.2 million profit reported for the segment in 2020. Total benefits , claims and other expenses increased to Sh5.7 billion up from Sh4.7 […]
The Latest Released Money Insurance market study has evaluated the future growth potential of Money Insurance market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, […]
Global general insurer Allianz SE has completed the purchase of a 51 percent stake in Jubilee General Insurance Limited in Burundi from the parent company Jubilee Holdings, which will retain a 19 percent stake in the business. This is the third of several similar regional transactions after the Kenyan parent firm signed an agreement in […]
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