Jubilee Holdings announced a final dividend of Ksh 579.8 million for the financial year ended December 2019. The Insurer will maintain a Ksh 8 final dividend per share despite a harsh operating environment caused by the pandemic. Jubilee Holdings will payout 652.3 million total dividend for the year that ended in December 2019.
Last year, the insurer recorded a slight dip in its net earnings, which fell from Ksh 4.1 billion to Ksh 4 billion as a result of rising claims and negative ROI. Further, its gross profit declined by Ksh 300 million to Ksh 5 billion, while its claims rose from Ksh 15.9 billion in 2018 to Ksh 19.7 billion.
Speaking on the dividend payout, Jubilee Holdings Group Chair Nizar Juma said, “We are proud that Jubilee Holdings has demonstrated its solid financial ground and stood by its shareholders, and not lowered the dividend payout, despite the current difficulties caused by the COVID-19 Pandemic.”
Going forward, the insurance group will leverage on its digital channels to deliver policies online, as well as allow customers to purchase and renew medical, motor and travel insurance.