Resolution Insurance Sinks with Kes 6.5 Billion Client's Funds
Resolution Insurance has collapsed with over kes 6.5 billion in client cash, insurance claims, and creditor funds after its shareholders failed to recapitalise the business. The company has been facing [...]
Jubilee Holdings to Construct KSh461 Million Headquarters in Tanzania
Jubilee Holdings is set to construct a KSh461 million headquarters in Dar es Salaam for its Tanzanian operations. Jubilee’s chairman Nizar Juma says the construction will see the company save [...]
Insurance Companies and Brokers Fail to Remit Ksh 8.5 Billion- Kenya Re
Kenya Re has disclosed that insurance companies and brokers have failed to pay Sh 8.57 billion premiums, hurting the profitability of the insurance firm which has had to make provisions [...]UAP Insurance Records 24% Growth in Revenue to Ksh 13.8 Billion
UAP Insurance Kenya recorded a 24% growth in Gross Written Premium to kes 13.18 billion from kes 10.61 billion recorded in 2020 while the net earned premiums increased by 13 [...]Jubilee Declares Special Dividend of kes 1 Billion Backed by Profit Surge
The Board of Jubilee Holdings Limited announced a total dividend of Kes. 1.015 billion including a special dividend of Kes. 14.0 per share payable on the 25th of July 2022. [...]Britam Made Net Profit of KSh 72.1 M in 2021
Britam Holdings Plc, a listed underwriter, posted a Net Profit of KSh 72.1 Million in 2021. This performance is compared to a Net loss of KSh 9.1 Billion over a [...]
Resolution Insurance Stops Non-Medical Underwriting
Resolution Insurance has stopped underwriting non-medical covers for three months as it seeks fresh capital injection. The insurer’s acting Managing Director Bernard Githinji says there has been “significant delays” in raising [...]Liberty Net Earnings fall 87.9% to KSh 81.8M
Liberty Kenya Holdings Plc, an underwriter listed at the Nairobi Securities Exchange(NSE), has posted a decline in net earnings to KSh 81.8 Million in 2021 compared to a net profit [...]Policyholders of Collapsed Underwriters to Get More Compensation
Policyholders of collapsed insurance companies will soon get more in compensation if an ongoing review approves the increase. The Policyholders Compensation Fund(PCF) is at the moment paying upto KSh 250,000 [...]CIC Records Net Profit of KSh 668.4 Million
CIC Insurance Group, an underwriter listed at the Nairobi Securities Exchange(NSE), made a net profit of KSh 668.4 Million at the end of the 2021 financial year compared to a [...]Allianz SE Acquires 51% Stake in Jubilee Burundi
Allianz SE , a Global general insurer has completed the purchase of a 51 percent stake in Jubilee General Insurance Limited in Burundi from the parent company Jubilee Holdings, which [...]Invesco Assurance Appoints New CEO And Board Chair
Invesco Assurance, a leading underwriter, has announced the appointment of Daniel Muriungi Mugao as its Chief Executive Officer following approval from the Insurance Regulatory Authority. Invesco has also appointed Stephen [...]
