A rise in claims and negative returns from investment activities hit net earnings of Jubilee Holdings Limited resulting in a slight fall in net earnings from KSh 4.1 Billion to KSh 4 Billion.
Its gross profit also declined slightly from KSh 5.3 Billion to KSh 5 Billion while gross premium earned climbed to KSh 29.1 Billion in 2019 from KSh 26.6 Billion in 2018.
Net claims rose to KSh 19.7 Billion from KSh 15.9 Billion the previous year.
Total Income increased to KSh 32.8 Billion from KSh 27.9 Billion.
Balance Sheet of Jubilee Holdings rose to KSh 130.1 Billion in 2019 compared to KSh 114.2 Billion the previous year.
Directors of Jubilee Insurance declared a dividend payment of KSh 8 per share. This brings the total dividend to KSh9 per share to be paid on or about 30th July, 2020.
The firm’s investment income dipped due to the share price decline at the Nairobi Securities Exchange(NSE).
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