Jubilee Insurance has recorded a 150% rise in Half-Year Net Earnings to KSh 4.5 Billion compared to KSh 1.8 Billion over a similar period last year.
With a presence in Kenya, Uganda, Tanzania, Burundi and Mauritius, the insurance underwriter 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, while net insurance premium revenue was up to KSh 11.2 Billion compared to KSh 10.1 Billion over the last six months of 2020.
Jubilee has a presence in Kenya, Uganda, Tanzania, Mauritius and Burundi
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.
Total comprehensive income more than doubled to KSh 4.2 Billion from KSh 1.8 Billion in H1,2020.
Shareholders funds increased to KSh 36.8 Billion compared to KSh 29.7 Billion in H1, 2020.
Directors of the underwriter recommend 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, both days inclusive.
