Jubilee Insurance has recorded half-year net earnings of Ksh. 4.5 billion. This is a 150% increase compared to Ksh 1.8 billion recorded in a similar period last year.
With a presence in Kenya, Uganda, Tanzania, Burundi and Mauritius, the insurer posted a 119% increase in pre-tax profit of Ksh. 5.2 billion from Ksh. 2.4 billion over a similar period last year. Gross written premiums and contributions to Jubilee Insurance increased from Ksh. 20.2 billion to Ksh. 22.2 billion. Net insurance premium revenue was up to Ksh. 11.2 billion compared to Ksh. 10.1 billion over the last six months of 2020.
According to Jubilee Insurance unaudited consolidated accounts for the period ending 30 June, 2021, operating profit increased by 32% to Ksh. 3.1 Billion, while the balance sheet size increased by Ksh. 5.8 billion to Ksh. 151.7 billion.
Similarly, comprehensive income more than doubled to Ksh. 4.2 billion from Ksh. 1.8 billion in H1, 2020. Shareholders funds also increased to Ksh. 36.8 billion compared to Ksh. 29.7 billion in H1, 2020.
Jubilee Insurance Board of Directors of have recommended the payment of an interim dividend of 20% or Ksh. 1.00 per share, amounting to Ksh. 652.3 million, subject to withholding tax where applicable.
The dividend will be paid on or about 11 October, 2021 to members on the register at the close of business on 10 September, 2021. To facilitate payment of the dividend, the register of members will be closed from 13 September, 2021 to 24 September, 2021.