Liberty Kenya recently released its half-year results for the period ended 30th June 2019. It reported a gross earned premium revenue of Ksh 5.24 billion a 3.86% increase compared to the previous period which was Ksh 5.04 billion.
The outward reinsurance increased by 4.61% to Ksh 1.9 billion. The net insurance premium revenue increased by 3.405% to Ksh3.24 billion compared to the previous period of Ksh3.13 billion.
There was a 22% increase in investment income and fair value adjustment on financial investments to Ksh1.87 billion compared to the previous period that reported Ksh1.53 billion. The total income reported was KSh5.54 billion an 8.33% increase of the KSh5.12 billion reported last year.
The net policyholder benefits decreased to Ksh 2,59 billion compared to Ksh 2.61 billion a 0.46% decrease. The claims and expenses increased by 6.083% from Ksh 4.63 billion in the previous first-half period of 2018 to Ksh 4.92 billion in the current period.
The profit before tax was reported to be KSh628.84 million compared to the previous similar period KSh484.39 million, a 29 percent increase.
The profit after tax was reported to be KSh392.162 million compared to KSh 288.89 million in the previous period, a 35.75% increase. The earnings per share also increased by 45.83% from KSh 0.48 in the previous period to KSh 0.70 in the current first half year period of 2019.